AVIS BUDGET GROUP INC

For the period ended Dec 31, 2023. Filed Feb 16, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 16, 2024

CAR$124.08-2.8%Stored close · as of Nov 10, 2026

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Contents

Consolidated Balance Sheets as of December 31, 2023 and

CONSOLIDATED BALANCE SHEETS

(In millions, except par value)

	As of December 31,
2023 · 2022
Assets
Current assets:
	Cash and cash equivalents	$555		$570
	Receivables (net of allowance for doubtful accounts of $87 and $86, respectively)	900		810
	Other current assets	684		506
Total current assets	2,139		1,886
Property and equipment, net	719		594
Operating lease right-of-use assets	2,654		2,405
Deferred income taxes	1,868		1,379
Goodwill	1,099		1,070
Other intangibles, net	670		666
Other non-current assets	441		499
Total assets exclusive of assets under vehicle programs	9,590		8,499
Assets under vehicle programs:
	Program cash	85		70
	Vehicles, net	21,240		15,961
	Receivables from vehicle manufacturers and other	443		421
	Investment in Avis Budget Rental Car Funding (AESOP) LLC—related party	1,211		976
		22,979		17,428
Total assets	$32,569		$25,927
Liabilities and stockholders’ equity
Current liabilities:
	Accounts payable and other current liabilities	$2,627		$2,547
	Short-term debt and current portion of long-term debt	32		27
Total current liabilities	2,659		2,574
Long-term debt	4,791		4,644
Long-term operating lease liabilities	2,117		1,884
Other non-current liabilities	528		554
Total liabilities exclusive of liabilities under vehicle programs	10,095		9,656
Liabilities under vehicle programs:
	Debt	3,496		2,534
	Debt due to Avis Budget Rental Car Funding (AESOP) LLC—related party	15,441		11,275
	Deferred income taxes	3,418		2,754
	Other	462		408
		22,817		16,971
Commitments and contingencies (Note 15)
Stockholders’ equity:
	Preferred stock, $.01 par value—authorized 10 shares; none issued and outstanding	—		—
	Common stock, $.01 par value—authorized 250 shares; issued 137 shares, respectively	1		1
	Additional paid-in capital	6,634		6,666
	Retained earnings	3,854		2,579
	Accumulated other comprehensive loss	(96)		(101)
	Treasury stock, at cost 102 and 98 shares, respectively	(10,742)		(9,848)
Stockholders’ equity attributable to Avis Budget Group, Inc.	(349)		(703)
	Non-controlling interests	6		3
Total stockholders’ equity	(343)		(700)
Total liabilities and stockholders’ equity	$32,569		$25,927

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.