Does the table provide any information about Budget's cash flow?
Budget Franchise · 2025 FDDAnswer from 2025 FDD Document
Proceeds from debt securities of Avis Budget Rental Car Funding (AESOP) LLC —related party | 701 | 306 | 305 | | | (2,563) | (7,017) | (4,019) | | Net cash used in investing activities | (2,753) | (7,346) | (4,299) |
Avis Budget Group, Inc. CONSOLIDATED STATEMENTS OF CASH FLOWS (Continued) (In millions)
| 202 | 4 | 2023 | 2022 | |
|---|---|---|---|---|
| Financing activities Proceeds from long-term borrowings Payments on long-term borrowings | $ | 1,569 (939) | $ 936 (818) | |
| Net change in short-term borrowings Debt financing fees | (28) | (22) (951) | (1) (7) (3,329) | |
| Repurchases of common stock Dividends paid | (70) — — | (355) | 40 | |
| Contributions from non-controlling interests Net cash provided by (used) in financing activities exclusive of vehicle programs | 532 | (1,210) | (2,592) | |
| Vehicle programs: Proceeds from borrowings | 21,335 | 23,980 | 17,419 | |
| Payments on borrowings Debt financing fees | (22,604) (44) | (19,220) (44) | (15,160) (27) 2,232 | |
| Net cash provided by (used in) financing activities | (1,313) (781) | 4,716 3,506 | (360) | |
| Effect of changes in exchange rates on cash and cash equivalents, program and restricted cash | (31) | 14 | (32) | |
| Net increase (decrease) in cash and cash equivalents, program and restricted |
Source: Item 21 — FINANCIAL STATEMENTS (FDD page 79)
What This Means (2025 FDD)
According to Budget's 2025 Franchise Disclosure Document, the consolidated statements of cash flows for Avis Budget Group, Inc. are detailed in Item 21. The document includes data on cash flow activities over three years. Specifically, the table provides figures for the years ended December 31, 2024, 2023, and 2022. These figures are presented in millions of dollars.
The cash flow statement includes various components such as proceeds from long-term borrowings and payments on long-term borrowings. For instance, in 2024, proceeds from long-term borrowings amounted to $1,569 million, while payments on long-term borrowings were $(939) million. The statement also details the net change in short-term borrowings, debt financing fees, repurchases of common stock, and dividends paid. These values provide a comprehensive view of the company's financing activities during the specified periods.
Additionally, the cash flow statement includes information about vehicle programs, which are a significant part of Budget's operations. This section covers proceeds from borrowings, payments on borrowings, and debt financing fees related to these programs. For example, proceeds from borrowings for vehicle programs in 2024 were $21,335 million, and payments on borrowings were $(22,604) million. The statement also shows the effect of changes in exchange rates on cash and cash equivalents. This level of detail can help potential franchisees understand the financial dynamics of Budget's operations and assess the company's financial health.