Adjusted EBITDA for the segment fell 7% to $57 million, mainly due to the same factors. Financials Avis Budget ended the quarter with cash and cash equivalents of $527 million, and total corporate debt of $3,530 million. As of Jun 30, 2016, the company's shareholders' equity was $339 million. During the first two quarters, the company generated $1,070 million as cash flow from operating activities. During the second quarter, Avis repurchased nearly 3.5 million shares worth $100 million, including which it bought roughly 6.5 million shares for $180 million during the first half of 2016.