FINANCIAL STATEMENT ANALYSIS

Financial Statement Analysis



Financial Statement Analysis

Introduction

Avis Budget Group functions two of the premier emblems in the automotive rental commerce through Avis and Budget. Avis is a premier rental vehicle supplier to the financial and leisure segments of the journey commerce and Budget goals price-conscious customers.

The business functions two characteristic emblems but portions the identical fleet, administration, upkeep amenities, schemes, expertise and administrative infrastructure. The business has positions in over 70 countries.

Avis Budget procedures encompass over 6,500 vehicle and motor truck rental positions in the United States, Canada, Australia, New Zealand, Latin America, the Caribbean and components of the Pacific region. The company's rental fleet sums more than 350,000 vehicles, and it accomplished more than 23 million vehicle rentals worldwide in 2009.

For 2009, the business developed incomes of $5.13 billion and snare decrease of $4 million. The Avis, Budget and Budget Truck emblems accounted for roughly 61%, 32% and 7% of our income, respectively, in 2009 (The Tobin Tax 2006).

For the full year, total vehicle rental incomes declined 15% versus the preceding year, propelled by a 20% down turn in rental days partially counteract by a 6% boost in time and mileage income per day.

Founded in 1957, Enterprise is America's biggest vehicle rental company. We profit from J.D. Powers & Assoc peak location for clientele service by a rental vehicle business year after year. Looking for a vocation change? Enterprise is consistently graded by Business Week as one of the “50 Best Places to Launch a Career".

 

Balance Sheet of Avis Budget Group

Fiscal Year

2007

2006

2005

2004

2003

Fiscal Year End Date

3/31/07

3/31/06

3/31/05

3/31/04

3/31/03

Assets

 

 

 

 

 

Total Assets

25,554,623.6

22,944,025.2

20,671,377.0

18,965,250.8

17,496,494.2

Cash & Short Term Investments

2,247,441.2

2,237,469.6

2,197,146.4

2,209,511.6

2,145,749.0

     Cash

1,460,833.0

1,222,203.8

1,112,169.8

1,018,671.2

905,792.6

     Short Term Investments

786,608.2

1,015,265.8

1,084,976.6

1,190,840.4

1,239,956.4

Receivables (Net)

5,696,308.8

5,582,476.8

5,382,758.2

5,185,478.6

5,000,013.8

Inventories -Total

1,377,582.6

1,221,335.0

1,080,901.2

984,310.6

922,333.0

     Raw Materials

 

 

 

 

 

     Work in Process

 

 

 

 

 

     Finished Goods

 

 

 

 

 

     Progress Payments & Other

 

 

 

 

 

Prepaid Expenses

 

 

 

 

 

Other Current Assets

940,217.0

1,049,589.2

1,018,839.8

972,531.2

861,922.8

Current Assets - Total

10,365,502.0

10,090,870.6

9,679,645.6

9,351,832.0

8,930,018.6

Long Term Receivables

3,744,216.4

2,739,741.0

1,889,923.8

1,194,403.2

641,148.6

Investment in Associated Companies

1,581,006.6

1,404,005.6

1,284,957.6

1,195,342.6

1,139,647.2

Other Investments

2,759,259.2

2,287,078.8

1,977,871.2

1,696,666.6

1,531,691.4

Property Plant and Equipment - Gross

14,847,815.0

13,985,341.0

13,122,622.2

12,585,869.6

12,011,348.4

     Accumulated Depreciation

8,490,940.4

8,153,014.8

7,754,510.0

7,403,311.4

6,941,095.4

     Property Plant and Equipment � Net

6,356,874.6

5,832,326.2

5,368,112.2

5,182,558.2

5,070,253.0

Other Assets

747,764.8

590,003.0

470,866.6

344,448.2

183,735.4

     Deferred Charges

 

 

 

 

0.0

     Tangible Other Assets

 

 

 

 

171,371.8

     Intangible Other Assets

 

 

 

 

12,362.6

Total Assets

25,554,623.6

22,944,025.2

20,671,377.0

18,965,250.8

17,496,494.2

Liabilities & Shareholders' Equity

 

 

 

 

 

Total Liabilities & Shareholders' Equity

25,554,623.6

22,944,025.2

20,671,377.0

18,965,250.8

17,496,494.2

Accounts Payable

1,889,312.2

1,743,629.0

1,589,505.0

1,479,564.0

1,385,217.8

Short Term Debt & Current Portion of Long Term Debt

4,128,054.2

3,570,522.4

2,901,974.0

2,497,696.6

2,114,831.4

Accrued Payroll

 

 

 

 

 

Income Taxes Payable

329,349.2

311,967.0

294,786.4

260,061.4

247,212.4

Dividends Payable

 

 

 

 

 

Other Current Liabilities

2,681,807.8

2,478,417.6

2,498,083.4

2,501,338.0

2,483,733.8

Current Liabilities - Total

9,035,728.6

8,118,908.8

7,306,897.2

6,761,208.4

6,253,543.8

Long Term Debt

5,052,075.4

4,524,695.8

4,005,984.2

3,574,273.8

3,312,564.4

     Long Term Debt Excluding Capitalized Leases

5,012,223.2

4,492,570.2

3,982,595.4

3,561,732.2

3,312,564.4

     Capitalized Lease Obligations

39,852.2

32,125.6

23,388.8

12,541.6

0.0

Provision for Risks and Charges

666,554.0

692,379.6

693,883.6

682,325.0

623,608.8

Deferred Income

 

 

 

 

 

Deferred Taxes

751,015.0

494,759.6

300,854.4

129,887.8

 

     Deferred Taxes - Credit

 

 

 

 

 

     Deferred Taxes - Debit

 

 

 

 

 

Deferred Tax Liability in Untaxed Reserves

 

 

 

 

 

Other Liabilities

100,135.0

99,174.6

88,115.0

71,633.4

58,904.6

Total Liabilities

15,605,508.0

13,929,918.4

12,395,734.4

11,219,328.4

10,222,797.2

Non-Equity Reserves

0.0

0.0

0.0

0.0

0.0

Minority Interest

533,050.6

500,245.8

450,958.0

416,370.4

356,044.0

Preferred Stock

0.0

0.0

0.0

0.0

0.0

     Preferred Stock Issued for ESOP

 

 

 

 

 

     ESOP Guarantees - Preferred Issued

 

 

 

 

 

Common Equity

9,416,065.0

8,513,861.0

7,824,684.6

7,329,552.0

6,917,652.8

Total Liabilities & Shareholders' Equity

25,554,623.6

22,944,025.2

20,671,377.0

18,965,250.8

17,496,494.2

 

Balance Sheet of Enterprise vehicle Rental Company 

Fiscal Year

2007

2006

2005

2004

2003

Fiscal Year End Date

3/31/07

3/31/06

3/31/05

3/31/04

3/31/03

Assets

 

 

 

 

 

Total Assets

25,554,623.6

22,944,025.2

20,671,377.0

18,965,250.8

17,496,494.2

Cash & Short Term Investments

2,247,441.2

2,237,469.6

2,197,146.4

2,209,511.6

2,145,749.0

     Cash

1,460,833.0

1,222,203.8

1,112,169.8

1,018,671.2

905,792.6

     Short Term Investments

786,608.2

1,015,265.8

1,084,976.6

1,190,840.4

1,239,956.4

Receivables (Net)

5,696,308.8

5,582,476.8

5,382,758.2

5,185,478.6

5,000,013.8

Inventories -Total

1,377,582.6

1,221,335.0

1,080,901.2

984,310.6

922,333.0

     Raw Materials

 

 

 

 

 

     Work in Process

 

 

 

 

 

     Finished Goods

 

 

 

 

 

     Progress Payments & Other

 

 

 

 

 

Prepaid Expenses

 

 

 

 

 

Other Current Assets

940,217.0

1,049,589.2

1,018,839.8

972,531.2

861,922.8

Current Assets - Total

10,365,502.0

10,090,870.6

9,679,645.6

9,351,832.0

8,930,018.6

Long Term Receivables

3,744,216.4

2,739,741.0

1,889,923.8

1,194,403.2

641,148.6

Investment in Associated Companies

1,581,006.6

1,404,005.6

1,284,957.6

1,195,342.6

1,139,647.2

Other Investments

2,759,259.2

2,287,078.8

1,977,871.2

1,696,666.6

1,531,691.4

Property Plant and Equipment - Gross

14,847,815.0

13,985,341.0

13,122,622.2

12,585,869.6

12,011,348.4

     Accumulated Depreciation

8,490,940.4

8,153,014.8

7,754,510.0

7,403,311.4

6,941,095.4

     Property Plant and Equipment � Net

6,356,874.6

5,832,326.2

5,368,112.2

5,182,558.2

5,070,253.0

Other Assets

747,764.8

590,003.0

470,866.6

344,448.2

183,735.4

     Deferred Charges

 

 

 

 

0.0

     Tangible Other Assets

 

 

 

 

171,371.8

     Intangible Other Assets

 

 

 

 

12,362.6

Total Assets

25,554,623.6

22,944,025.2

20,671,377.0

18,965,250.8

17,496,494.2

Liabilities & Shareholders' Equity

 

 

 

 

 

Total Liabilities & Shareholders' Equity

25,554,623.6

22,944,025.2

20,671,377.0

18,965,250.8

17,496,494.2

Accounts Payable

1,889,312.2

1,743,629.0

1,589,505.0

1,479,564.0

1,385,217.8

Short Term Debt & Current Portion of Long Term Debt

4,128,054.2

3,570,522.4

2,901,974.0

2,497,696.6

2,114,831.4

Accrued Payroll

 

 

 

 

 

Income Taxes Payable

329,349.2

311,967.0

294,786.4

260,061.4

247,212.4

Dividends Payable

 

 

 

 

 

Other Current Liabilities

2,681,807.8

2,478,417.6

2,498,083.4

2,501,338.0

2,483,733.8

Current Liabilities - Total

9,035,728.6

8,118,908.8

7,306,897.2

6,761,208.4

6,253,543.8

Long Term Debt

5,052,075.4

4,524,695.8

4,005,984.2

3,574,273.8

3,312,564.4

     Long Term Debt Excluding Capitalized Leases

5,012,223.2

4,492,570.2

3,982,595.4

3,561,732.2

3,312,564.4

     Capitalized Lease Obligations

39,852.2

32,125.6

23,388.8

12,541.6

0.0

Provision for Risks and Charges

666,554.0

692,379.6

693,883.6

682,325.0

623,608.8

Deferred Income

 

 

 

 

 

Deferred Taxes

751,015.0

494,759.6

300,854.4

129,887.8

 

     Deferred Taxes - Credit

 

 

 

 

 

     Deferred Taxes - Debit

 

 

 

 

 

Deferred Tax Liability in Untaxed Reserves

 

 

 

 

 

Other ...