Document
falsefalse--12-31--12-31Q2Q22019201900016578530000047129P1Y270000002700000029000000290000000.010.010.010.01860000001008600000010084000000100840000001000.010.041250.0550.0550.062501.140.010.01000020000002000000
0001657853
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
2019-07-30
0001657853
2019-07-30
0001657853
2018-12-31
0001657853
2019-06-30
0001657853
htz:NonVehicleRelatedServiceMember
2019-06-30
0001657853
htz:VehicleRelatedServiceMember
2018-12-31
0001657853
htz:NonVehicleRelatedServiceMember
2018-12-31
0001657853
htz:VehicleRelatedServiceMember
2019-06-30
0001657853
htz:TheHertzCorporationMember
2018-12-31
0001657853
htz:TheHertzCorporationMember
2019-06-30
0001657853
2018-01-01
2018-06-30
0001657853
2019-04-01
2019-06-30
0001657853
htz:NonVehicleRelatedServiceMember
2018-01-01
2018-06-30
0001657853
2018-04-01
2018-06-30
0001657853
htz:VehicleRelatedServiceMember
2018-04-01
2018-06-30
0001657853
htz:VehicleRelatedServiceMember
2019-04-01
2019-06-30
0001657853
htz:NonVehicleRelatedServiceMember
2018-04-01
2018-06-30
0001657853
htz:VehicleRelatedServiceMember
2019-01-01
2019-06-30
0001657853
htz:NonVehicleRelatedServiceMember
2019-01-01
2019-06-30
0001657853
htz:NonVehicleRelatedServiceMember
2019-04-01
2019-06-30
0001657853
htz:VehicleRelatedServiceMember
2018-01-01
2018-06-30
0001657853
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-12-31
0001657853
us-gaap:ParentMember
2019-06-30
0001657853
us-gaap:AdditionalPaidInCapitalMember
2019-01-01
2019-03-31
0001657853
us-gaap:NoncontrollingInterestMember
2019-01-01
2019-03-31
0001657853
us-gaap:NoncontrollingInterestMember
2019-04-01
2019-06-30
0001657853
us-gaap:AdditionalPaidInCapitalMember
2019-04-01
2019-06-30
0001657853
2019-03-31
0001657853
us-gaap:ParentMember
2019-04-01
2019-06-30
0001657853
us-gaap:NoncontrollingInterestMember
2018-12-31
0001657853
us-gaap:RetainedEarningsMember
2019-04-01
2019-06-30
0001657853
us-gaap:NoncontrollingInterestMember
2019-03-31
0001657853
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-03-31
0001657853
2019-01-01
2019-03-31
0001657853
us-gaap:PreferredStockMember
2019-03-31
0001657853
us-gaap:CommonStockMember
2019-06-30
0001657853
us-gaap:RetainedEarningsMember
2018-12-31
0001657853
us-gaap:TreasuryStockMember
2018-12-31
0001657853
us-gaap:RetainedEarningsMember
2019-01-01
2019-03-31
0001657853
us-gaap:CommonStockMember
2019-03-31
0001657853
us-gaap:RetainedEarningsMember
2019-03-31
0001657853
us-gaap:ParentMember
2018-12-31
0001657853
us-gaap:CommonStockMember
2018-12-31
0001657853
us-gaap:ParentMember
2019-01-01
2019-03-31
0001657853
us-gaap:ParentMember
2019-03-31
0001657853
us-gaap:PreferredStockMember
2018-12-31
0001657853
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-06-30
0001657853
us-gaap:NoncontrollingInterestMember
2019-06-30
0001657853
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-04-01
2019-06-30
0001657853
us-gaap:TreasuryStockMember
2019-06-30
0001657853
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-01-01
2019-03-31
0001657853
us-gaap:AdditionalPaidInCapitalMember
2018-12-31
0001657853
us-gaap:TreasuryStockMember
2019-03-31
0001657853
us-gaap:AdditionalPaidInCapitalMember
2019-06-30
0001657853
us-gaap:RetainedEarningsMember
2019-06-30
0001657853
us-gaap:AdditionalPaidInCapitalMember
2019-03-31
0001657853
us-gaap:PreferredStockMember
2019-06-30
0001657853
us-gaap:TreasuryStockMember
2017-12-31
0001657853
us-gaap:ParentMember
2018-04-01
2018-06-30
0001657853
us-gaap:NoncontrollingInterestMember
2018-04-01
2018-06-30
0001657853
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-01-01
0001657853
us-gaap:RetainedEarningsMember
2018-01-01
0001657853
us-gaap:TreasuryStockMember
2018-03-31
0001657853
us-gaap:ParentMember
2018-01-01
0001657853
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-06-30
0001657853
2018-01-01
2018-03-31
0001657853
us-gaap:CommonStockMember
2018-01-01
0001657853
us-gaap:NoncontrollingInterestMember
2018-01-01
2018-03-31
0001657853
us-gaap:CommonStockMember
2018-06-30
0001657853
2018-01-01
0001657853
us-gaap:AdditionalPaidInCapitalMember
2018-06-30
0001657853
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2017-12-31
0001657853
us-gaap:ParentMember
2018-01-01
2018-03-31
0001657853
us-gaap:CommonStockMember
2018-03-31
0001657853
us-gaap:AdditionalPaidInCapitalMember
2018-01-01
2018-03-31
0001657853
us-gaap:ParentMember
2017-12-31
0001657853
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-03-31
0001657853
us-gaap:AdditionalPaidInCapitalMember
2018-03-31
0001657853
2018-03-31
0001657853
us-gaap:NoncontrollingInterestMember
2018-03-31
0001657853
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-04-01
2018-06-30
0001657853
us-gaap:CommonStockMember
2017-12-31
0001657853
us-gaap:TreasuryStockMember
2018-01-01
0001657853
us-gaap:AdditionalPaidInCapitalMember
2017-12-31
0001657853
us-gaap:TreasuryStockMember
2018-06-30
0001657853
us-gaap:PreferredStockMember
2018-03-31
0001657853
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-01-01
2018-03-31
0001657853
us-gaap:ParentMember
2018-06-30
0001657853
us-gaap:NoncontrollingInterestMember
2018-06-30
0001657853
us-gaap:RetainedEarningsMember
2018-04-01
2018-06-30
0001657853
us-gaap:RetainedEarningsMember
2018-01-01
2018-03-31
0001657853
us-gaap:RetainedEarningsMember
2017-12-31
0001657853
us-gaap:NoncontrollingInterestMember
2017-12-31
0001657853
us-gaap:NoncontrollingInterestMember
2018-01-01
0001657853
us-gaap:PreferredStockMember
2017-12-31
0001657853
us-gaap:AdditionalPaidInCapitalMember
2018-01-01
0001657853
2018-06-30
0001657853
us-gaap:RetainedEarningsMember
2018-03-31
0001657853
us-gaap:ParentMember
2018-03-31
0001657853
us-gaap:AdditionalPaidInCapitalMember
2018-04-01
2018-06-30
0001657853
us-gaap:PreferredStockMember
2018-06-30
0001657853
us-gaap:RetainedEarningsMember
2018-06-30
0001657853
2017-12-31
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
2018-12-31
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:VehicleRelatedServiceMember
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:VehicleRelatedServiceMember
2018-12-31
0001657853
htz:TheHertzCorporationMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:VehicleRelatedServiceMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:VehicleRelatedServiceMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:VehicleRelatedServiceMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:VehicleRelatedServiceMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:RetainedEarningsMember
2018-01-01
2018-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:ParentMember
2018-01-01
2018-03-31
0001657853
htz:TheHertzCorporationMember
2018-01-01
2018-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:CommonStockMember
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:NoncontrollingInterestMember
2018-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:AdditionalPaidInCapitalMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:RetainedEarningsMember
2017-12-31
0001657853
htz:TheHertzCorporationMember
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:DueFromAffiliateMember
2018-01-01
0001657853
htz:TheHertzCorporationMember
us-gaap:AdditionalPaidInCapitalMember
2018-01-01
2018-03-31
0001657853
htz:TheHertzCorporationMember
htz:DueFromAffiliateMember
2018-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:CommonStockMember
2018-01-01
0001657853
htz:TheHertzCorporationMember
us-gaap:NoncontrollingInterestMember
2018-01-01
2018-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:ParentMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:ParentMember
2017-12-31
0001657853
htz:TheHertzCorporationMember
us-gaap:AdditionalPaidInCapitalMember
2018-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:ParentMember
2018-01-01
0001657853
htz:TheHertzCorporationMember
us-gaap:AdditionalPaidInCapitalMember
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:DueFromAffiliateMember
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:DueFromAffiliateMember
2018-01-01
2018-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2017-12-31
0001657853
htz:TheHertzCorporationMember
2018-01-01
0001657853
htz:TheHertzCorporationMember
us-gaap:CommonStockMember
2017-12-31
0001657853
htz:TheHertzCorporationMember
us-gaap:AdditionalPaidInCapitalMember
2018-01-01
0001657853
htz:TheHertzCorporationMember
us-gaap:RetainedEarningsMember
2018-01-01
0001657853
htz:TheHertzCorporationMember
us-gaap:NoncontrollingInterestMember
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:CommonStockMember
2018-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:RetainedEarningsMember
2018-03-31
0001657853
htz:TheHertzCorporationMember
2017-12-31
0001657853
htz:TheHertzCorporationMember
htz:DueFromAffiliateMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-01-01
0001657853
htz:TheHertzCorporationMember
us-gaap:NoncontrollingInterestMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:AdditionalPaidInCapitalMember
2017-12-31
0001657853
htz:TheHertzCorporationMember
us-gaap:ParentMember
2018-03-31
0001657853
htz:TheHertzCorporationMember
htz:DueFromAffiliateMember
2017-12-31
0001657853
htz:TheHertzCorporationMember
us-gaap:RetainedEarningsMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
2018-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:ParentMember
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:RetainedEarningsMember
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:CommonStockMember
2019-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:ParentMember
2019-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:ParentMember
2019-01-01
2019-03-31
0001657853
htz:TheHertzCorporationMember
2019-01-01
2019-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:NoncontrollingInterestMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:ParentMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:CommonStockMember
2018-12-31
0001657853
htz:TheHertzCorporationMember
us-gaap:NoncontrollingInterestMember
2018-12-31
0001657853
htz:TheHertzCorporationMember
htz:DueFromAffiliateMember
2018-12-31
0001657853
htz:TheHertzCorporationMember
us-gaap:RetainedEarningsMember
2019-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:NoncontrollingInterestMember
2019-01-01
2019-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:RetainedEarningsMember
2019-01-01
2019-03-31
0001657853
htz:TheHertzCorporationMember
htz:DueFromAffiliateMember
2019-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:ParentMember
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:CommonStockMember
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:AdditionalPaidInCapitalMember
2018-12-31
0001657853
htz:TheHertzCorporationMember
us-gaap:NoncontrollingInterestMember
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:AdditionalPaidInCapitalMember
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2018-12-31
0001657853
htz:TheHertzCorporationMember
us-gaap:AdditionalPaidInCapitalMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:RetainedEarningsMember
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:AdditionalPaidInCapitalMember
2019-03-31
0001657853
htz:TheHertzCorporationMember
htz:DueFromAffiliateMember
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:RetainedEarningsMember
2018-12-31
0001657853
htz:TheHertzCorporationMember
us-gaap:AccumulatedOtherComprehensiveIncomeMember
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:DueFromAffiliateMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:ParentMember
2018-12-31
0001657853
htz:TheHertzCorporationMember
2019-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:RetainedEarningsMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:DueFromAffiliateMember
2019-01-01
2019-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:AdditionalPaidInCapitalMember
2019-01-01
2019-03-31
0001657853
htz:TheHertzCorporationMember
us-gaap:NoncontrollingInterestMember
2019-03-31
0001657853
htz:TheHertzCorporationMember
htz:A767AutoLeasingLLCMember
2019-01-01
2019-06-30
0001657853
us-gaap:AccountingStandardsUpdate201409Member
us-gaap:CalculatedUnderRevenueGuidanceInEffectBeforeTopic606Member
2018-12-31
0001657853
us-gaap:AccountingStandardsUpdate201409Member
us-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member
2019-01-01
0001657853
us-gaap:CalculatedUnderRevenueGuidanceInEffectBeforeTopic606Member
2018-12-31
0001657853
2019-01-01
0001657853
us-gaap:AccountingStandardsUpdate201409Member
2019-01-01
0001657853
htz:TheHertzCorporationMember
us-gaap:AccountingStandardsUpdate201409Member
us-gaap:CalculatedUnderRevenueGuidanceInEffectBeforeTopic606Member
2018-12-31
0001657853
htz:TheHertzCorporationMember
us-gaap:AccountingStandardsUpdate201409Member
us-gaap:DifferenceBetweenRevenueGuidanceInEffectBeforeAndAfterTopic606Member
2019-01-01
0001657853
htz:TheHertzCorporationMember
us-gaap:AccountingStandardsUpdate201409Member
2019-01-01
0001657853
htz:EuropeanFleetNotes4.125PercentDueOctober2021Member
2018-12-31
0001657853
htz:EuropeanFleetNotesMember
2018-12-31
0001657853
htz:EuropeanFleetNotes5.500PercentDueMarch2023Member
2019-06-30
0001657853
htz:EuropeanFleetNotes5.500PercentDueMarch2023Member
2018-12-31
0001657853
htz:EuropeanFleetNotes4.125PercentDueOctober2021Member
2019-06-30
0001657853
htz:EuropeanFleetNotesMember
2019-06-30
0001657853
us-gaap:NotesPayableOtherPayablesMember
2019-06-30
0001657853
htz:OtherFleetDebtMember
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2018Series3Member
2018-12-31
0001657853
htz:HFLFMediumTermNotesMember
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2015Series1Member
2019-06-30
0001657853
htz:UsFleetMediumTermNotes2018Series2Member
2019-06-30
0001657853
htz:HVFIIUsFleetVariableMediumTermNotesMember
2019-06-30
0001657853
htz:HFLFSeries20161Member
2018-12-31
0001657853
htz:HFLFSeries20161Member
2019-06-30
0001657853
htz:HFLFSeries20171NotesMember
2019-06-30
0001657853
htz:UsFleetMediumTermNotes2016Series3Member
2019-06-30
0001657853
htz:FleetDebtMember
2018-12-31
0001657853
htz:HFLFSeries20191Member
2019-06-30
0001657853
htz:CanadianSecuritizationMember
2019-06-30
0001657853
htz:HFLFSeries20171NotesMember
2018-12-31
0001657853
htz:HVFIIUSFleetVariableFundingNotesMember
2019-06-30
0001657853
htz:HVFIISeries2013ANotesMember
2019-06-30
0001657853
htz:HFLFSeries20151NotesMember
2018-12-31
0001657853
us-gaap:SeniorLoansMember
2019-06-30
0001657853
htz:UsFleetMediumTermNotes2019Series2Member
2019-06-30
0001657853
htz:SeniorCreditFacilityMember
2018-12-31
0001657853
htz:FleetDebtMember
2019-06-30
0001657853
htz:HFLFSeries20191Member
2018-12-31
0001657853
htz:SeniorCreditFacilityMember
2019-06-30
0001657853
us-gaap:CorporateDebtSecuritiesMember
2019-06-30
0001657853
htz:SeniorSecondPrioritySecuredNotesMember
2019-06-30
0001657853
htz:UsFleetMediumTermNotes2015Series1Member
2018-12-31
0001657853
htz:HFLFMediumTermNotesMember
2019-06-30
0001657853
htz:UsFleetMediumTermNotes2019Series1Member
2019-06-30
0001657853
htz:UsFleetMediumTermNotes2016Series4Member
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2016Series1Member
2018-12-31
0001657853
htz:HVFIISeries2013BNotesMember
2019-06-30
0001657853
us-gaap:CorporateDebtSecuritiesMember
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2015Series3Member
2019-06-30
0001657853
us-gaap:NotesPayableOtherPayablesMember
2018-12-31
0001657853
us-gaap:CapitalLeaseObligationsMember
2019-06-30
0001657853
htz:HFLFSeries20181Member
2018-12-31
0001657853
htz:OtherCorporateDebtMember
2019-06-30
0001657853
htz:NewZealandRevolvingCreditFacilityMember
2019-06-30
0001657853
htz:HVFIIUsFleetVariableMediumTermNotesMember
2018-12-31
0001657853
htz:EuropeanSecuritizationMember
2019-06-30
0001657853
htz:NewZealandRevolvingCreditFacilityMember
2018-12-31
0001657853
htz:HVFIISeries2013BNotesMember
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2015Series3Member
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2017Series1Member
2018-12-31
0001657853
htz:HFLFSeries20132NotesMember
2019-06-30
0001657853
htz:UsFleetMediumTermNotes2018Series1Member
2019-06-30
0001657853
htz:UsFleetMediumTermNotes2018Series3Member
2019-06-30
0001657853
us-gaap:CapitalLeaseObligationsMember
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2016Series2Member
2019-06-30
0001657853
htz:HFLFSeries20151NotesMember
2019-06-30
0001657853
htz:UsFleetMediumTermNotes2017Series1Member
2019-06-30
0001657853
htz:USVehicleRCFMember
2019-06-30
0001657853
us-gaap:SeniorLoansMember
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2017Series2Member
2019-06-30
0001657853
htz:UkLeveragedFinancingMember
2018-12-31
0001657853
htz:EuropeanSecuritizationMember
2018-12-31
0001657853
htz:CanadianSecuritizationMember
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2018Series2Member
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2016Series4Member
2019-06-30
0001657853
htz:HFLFSeries20132NotesMember
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2016Series1Member
2019-06-30
0001657853
htz:OtherCorporateDebtMember
2018-12-31
0001657853
htz:HFLFSeries20181Member
2019-06-30
0001657853
htz:UsFleetMediumTermNotes2019Series1Member
2018-12-31
0001657853
us-gaap:SeniorNotesMember
2019-06-30
0001657853
htz:AustralianSecuritizationMember
2019-06-30
0001657853
htz:UkLeveragedFinancingMember
2019-06-30
0001657853
htz:UsFleetMediumTermNotes2016Series2Member
2018-12-31
0001657853
htz:HVFIISeries2013ANotesMember
2018-12-31
0001657853
htz:USVehicleRCFMember
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2019Series2Member
2018-12-31
0001657853
us-gaap:SeniorNotesMember
2018-12-31
0001657853
htz:AustralianSecuritizationMember
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2018Series1Member
2018-12-31
0001657853
htz:DonlenABSProgramMember
2018-12-31
0001657853
htz:HVFIIUSFleetVariableFundingNotesMember
2018-12-31
0001657853
htz:DonlenABSProgramMember
2019-06-30
0001657853
htz:OtherFleetDebtMember
2019-06-30
0001657853
htz:SeniorSecondPrioritySecuredNotesMember
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2016Series3Member
2018-12-31
0001657853
htz:UsFleetMediumTermNotes2017Series2Member
2018-12-31
0001657853
htz:SeniorAssetsBasedLineOfCreditFacilityMember
2019-06-30
0001657853
htz:UsFleetFinancingFacilityMember
2019-06-30
0001657853
htz:HVFIIU.S.ABSProgramMember
2019-06-30
0001657853
us-gaap:LetterOfCreditMember
2019-06-30
0001657853
htz:SeniorNotes6250PercentDue2022Member
2018-12-31
0001657853
htz:SeniorNotes5Point875PercentDueOctober2020Member
2018-12-31
0001657853
htz:SeniorNotes6250PercentDue2022Member
2019-06-30
0001657853
htz:SeniorNotes5.50PercentDue2024Member
2018-12-31
0001657853
htz:SeniorNotes7Point375PercentDueJanuary2021Member
2018-12-31
0001657853
htz:SeniorNotes7Point375PercentDueJanuary2021Member
2019-06-30
0001657853
htz:SeniorNotes5.50PercentDue2024Member
2019-06-30
0001657853
htz:SeniorNotes5Point875PercentDueOctober2020Member
2019-06-30
0001657853
us-gaap:RevolvingCreditFacilityMember
htz:SeniorCreditFacilityMember
2019-06-30
0001657853
srt:AffiliatedEntityMember
htz:HVFIIU.S.VehicleMediumTermNotesSeries20191RentalCarAssetBackedNotesClassDMember
2019-02-28
0001657853
us-gaap:LetterOfCreditMember
2019-06-30
0001657853
srt:ScenarioForecastMember
us-gaap:RevolvingCreditFacilityMember
htz:UKFinancingFacilityMember
2019-10-31
0001657853
htz:HVFIISeries2013ANotesMember
2019-02-28
0001657853
htz:InternationalFleetFinancingNo.2B.V.Member
2019-06-30
0001657853
us-gaap:RevolvingCreditFacilityMember
htz:CanadianSecuritizationDueOctober2018Member
2019-04-30
0001657853
htz:HVFIISeries2019AVariableFundingRentalCarAssetBackedNotesMember
2019-02-28
0001657853
srt:ScenarioForecastMember
us-gaap:RevolvingCreditFacilityMember
htz:FundingLPSeries2015ANotesMember
2019-10-31
0001657853
srt:AffiliatedEntityMember
htz:HVFIIU.S.VehicleMediumTermNotesSeries20192RentalCarAssetBackedNotesClassDMember
2019-05-31
0001657853
us-gaap:LetterOfCreditMember
2019-06-30
0001657853
htz:SeniorRevolvingCreditFacilityandLetterofCreditFacilityMember
2019-06-30
0001657853
us-gaap:RevolvingCreditFacilityMember
htz:UKFinancingFacilityDueOctober2019Member
2019-05-31
0001657853
htz:HVFIIU.S.VehicleMediumTermNotesSeries20192RentalCarAssetBackedNotesClassABCandDMember
2019-05-31
0001657853
us-gaap:LetterOfCreditMember
htz:SeniorCreditFacilityMember
2019-06-30
0001657853
htz:HVFIISeries2013ANotesMember
2019-05-01
2019-05-31
0001657853
htz:HVFIIU.S.VehicleMediumTermNotesSeries20191RentalCarAssetBackedNotesClassABCandDMember
2019-02-28
0001657853
htz:InternationalFleetFinancingNo.2B.V.Member
2018-12-31
0001657853
htz:InternationalFleetFinancingNo.2B.V.Member
2019-01-01
2019-06-30
0001657853
htz:HFLFMediumTermNotesSeries20191AssetBackNotesClassABCDandEMember
2019-05-31
0001657853
htz:SeniorAssetsBasedLineOfCreditFacilityMember
2019-04-01
2019-06-30
0001657853
htz:VehicleRentalsOperatingLeaseMember
2019-01-01
2019-06-30
0001657853
htz:VehicleRentalsOperatingLeaseMember
2019-04-01
2019-06-30
0001657853
htz:FleetLeasingOperatingLeaseMember
2019-01-01
2019-06-30
0001657853
htz:VariableOperatingLeaseMember
2019-04-01
2019-06-30
0001657853
htz:FleetLeasingOperatingLeaseMember
2019-04-01
2019-06-30
0001657853
htz:VariableOperatingLeaseMember
2019-01-01
2019-06-30
0001657853
srt:MinimumMember
2019-06-30
0001657853
srt:MaximumMember
2019-06-30
0001657853
us-gaap:StockCompensationPlanMember
2019-04-01
2019-06-30
0001657853
us-gaap:StockCompensationPlanMember
2018-04-01
2018-06-30
0001657853
us-gaap:StockCompensationPlanMember
2019-01-01
2019-06-30
0001657853
us-gaap:StockCompensationPlanMember
2018-01-01
2018-06-30
0001657853
us-gaap:FairValueInputsLevel3Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:MoneyMarketFundsMember
2019-06-30
0001657853
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:EquitySecuritiesMember
2019-06-30
0001657853
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:EquitySecuritiesMember
2019-06-30
0001657853
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:EquitySecuritiesMember
2018-12-31
0001657853
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:MoneyMarketFundsMember
2018-12-31
0001657853
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:MoneyMarketFundsMember
2019-06-30
0001657853
us-gaap:FairValueInputsLevel3Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:EquitySecuritiesMember
2018-12-31
0001657853
us-gaap:FairValueInputsLevel3Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:MoneyMarketFundsMember
2018-12-31
0001657853
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:EquitySecuritiesMember
2018-12-31
0001657853
us-gaap:FairValueInputsLevel1Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:EquitySecuritiesMember
2018-12-31
0001657853
us-gaap:FairValueInputsLevel3Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:EquitySecuritiesMember
2019-06-30
0001657853
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:MoneyMarketFundsMember
2019-06-30
0001657853
us-gaap:FairValueInputsLevel1Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:EquitySecuritiesMember
2019-06-30
0001657853
us-gaap:FairValueInputsLevel1Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:MoneyMarketFundsMember
2018-12-31
0001657853
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:MoneyMarketFundsMember
2018-12-31
0001657853
us-gaap:FairValueInputsLevel1Member
us-gaap:FairValueMeasurementsRecurringMember
us-gaap:MoneyMarketFundsMember
2019-06-30
0001657853
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
htz:FleetDebtMember
2018-12-31
0001657853
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
2018-12-31
0001657853
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
htz:OtherCorporateDebtMember
2019-06-30
0001657853
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
htz:OtherCorporateDebtMember
2018-12-31
0001657853
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
2019-06-30
0001657853
us-gaap:FairValueInputsLevel2Member
us-gaap:FairValueMeasurementsRecurringMember
htz:FleetDebtMember
2019-06-30
0001657853
srt:AffiliatedEntityMember
2019-05-01
2019-05-31
0001657853
htz:TheHertzCorporationMember
htz:A767AutoLeasingLLCMember
2019-04-01
2019-06-30
0001657853
srt:AffiliatedEntityMember
2018-01-01
2018-06-30
0001657853
htz:MasterLoanAgreementMember
2019-06-30
0001657853
htz:TaxRelatedLiabilityMember
2019-06-30
0001657853
htz:A767AutoLeasingLLCMember
2019-06-30
0001657853
srt:AffiliatedEntityMember
2019-04-01
2019-06-30
0001657853
htz:MasterMotorVehicleLeaseandManagementAgreementMember
htz:A767AutoLeasingLLCMember
2019-01-01
2019-06-30
0001657853
srt:AffiliatedEntityMember
2018-04-01
2018-06-30
0001657853
srt:AffiliatedEntityMember
2019-01-01
2019-06-30
0001657853
htz:MasterLoanAgreementMember
2018-12-31
0001657853
htz:TaxRelatedLiabilityMember
2018-12-31
0001657853
us-gaap:OperatingSegmentsMember
us-gaap:AllOtherSegmentsMember
2019-06-30
0001657853
us-gaap:OperatingSegmentsMember
htz:InternationalCarRentalMember
2018-12-31
0001657853
us-gaap:OperatingSegmentsMember
htz:U.S.CarRentalMember
2018-12-31
0001657853
us-gaap:OperatingSegmentsMember
htz:U.S.CarRentalMember
2019-06-30
0001657853
us-gaap:OperatingSegmentsMember
us-gaap:AllOtherSegmentsMember
2018-12-31
0001657853
us-gaap:CorporateNonSegmentMember
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:CorporateNonSegmentMember
2018-12-31
0001657853
us-gaap:OperatingSegmentsMember
htz:InternationalCarRentalMember
2019-06-30
0001657853
us-gaap:CorporateNonSegmentMember
2018-12-31
0001657853
htz:TheHertzCorporationMember
us-gaap:CorporateNonSegmentMember
2019-06-30
0001657853
us-gaap:SalesRevenueSegmentMember
us-gaap:ProductConcentrationRiskMember
us-gaap:AllOtherSegmentsMember
2019-01-01
2019-06-30
0001657853
htz:EuropeanFleetNotes4.375PercentDueJanuary2019Member
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:VehicleRelatedServiceMember
us-gaap:DeferredLossOnEarlyExtinguishmentOfDebtMember
2018-04-01
2018-06-30
0001657853
htz:VehicleRelatedServiceMember
htz:NonCashDebtChargesMember
2019-04-01
2019-06-30
0001657853
htz:FinanceandInformationTechnologyTransformationCostsMember
2018-01-01
2018-06-30
0001657853
us-gaap:OperatingSegmentsMember
2018-04-01
2018-06-30
0001657853
us-gaap:OperatingSegmentsMember
htz:U.S.CarRentalMember
2018-01-01
2018-06-30
0001657853
us-gaap:OperatingSegmentsMember
htz:U.S.CarRentalMember
2018-04-01
2018-06-30
0001657853
us-gaap:OperatingSegmentsMember
htz:InternationalCarRentalMember
2018-04-01
2018-06-30
0001657853
us-gaap:OperatingSegmentsMember
htz:InternationalCarRentalMember
2019-04-01
2019-06-30
0001657853
us-gaap:OperatingSegmentsMember
htz:InternationalCarRentalMember
2018-01-01
2018-06-30
0001657853
us-gaap:CorporateNonSegmentMember
2018-01-01
2018-06-30
0001657853
us-gaap:OperatingSegmentsMember
2019-04-01
2019-06-30
0001657853
us-gaap:OperatingSegmentsMember
htz:U.S.CarRentalMember
2019-04-01
2019-06-30
0001657853
htz:RestructuringandRestructuringRelatedChargesMember
2018-01-01
2018-06-30
0001657853
htz:VehicleRelatedServiceMember
htz:NonCashDebtChargesMember
2019-01-01
2019-06-30
0001657853
htz:NonVehicleRelatedServiceMember
htz:NonvehicleDeprecationandAmortizationMember
2018-01-01
2018-06-30
0001657853
us-gaap:OperatingSegmentsMember
us-gaap:AllOtherSegmentsMember
2019-01-01
2019-06-30
0001657853
us-gaap:OperatingSegmentsMember
htz:U.S.CarRentalMember
2019-01-01
2019-06-30
0001657853
us-gaap:CorporateNonSegmentMember
2019-04-01
2019-06-30
0001657853
htz:OtherIncomeExpenseMember
2019-04-01
2019-06-30
0001657853
htz:VehicleRelatedServiceMember
htz:NonCashDebtChargesMember
2018-01-01
2018-06-30
0001657853
us-gaap:OperatingSegmentsMember
2019-01-01
2019-06-30
0001657853
us-gaap:OperatingSegmentsMember
2018-01-01
2018-06-30
0001657853
htz:VehicleRelatedServiceMember
us-gaap:DeferredLossOnEarlyExtinguishmentOfDebtMember
2018-04-01
2018-06-30
0001657853
htz:NonVehicleRelatedServiceMember
htz:NonCashDebtChargesMember
2019-04-01
2019-06-30
0001657853
htz:NonVehicleRelatedServiceMember
htz:NonCashDebtChargesMember
2018-01-01
2018-06-30
0001657853
htz:OtherIncomeExpenseMember
2018-04-01
2018-06-30
0001657853
us-gaap:OperatingSegmentsMember
us-gaap:AllOtherSegmentsMember
2018-04-01
2018-06-30
0001657853
htz:VehicleRelatedServiceMember
htz:NonCashDebtChargesMember
2018-04-01
2018-06-30
0001657853
us-gaap:OperatingSegmentsMember
htz:InternationalCarRentalMember
2019-01-01
2019-06-30
0001657853
us-gaap:OperatingSegmentsMember
us-gaap:AllOtherSegmentsMember
2018-01-01
2018-06-30
0001657853
htz:VehicleRelatedServiceMember
us-gaap:DeferredLossOnEarlyExtinguishmentOfDebtMember
2019-01-01
2019-06-30
0001657853
htz:RestructuringandRestructuringRelatedChargesMember
2019-04-01
2019-06-30
0001657853
htz:VehicleRelatedServiceMember
us-gaap:DeferredLossOnEarlyExtinguishmentOfDebtMember
2019-04-01
2019-06-30
0001657853
htz:FinanceandInformationTechnologyTransformationCostsMember
2019-01-01
2019-06-30
0001657853
htz:NonVehicleRelatedServiceMember
htz:NonvehicleDeprecationandAmortizationMember
2019-04-01
2019-06-30
0001657853
htz:NonVehicleRelatedServiceMember
htz:NonCashDebtChargesMember
2019-01-01
2019-06-30
0001657853
htz:NonVehicleRelatedServiceMember
htz:NonvehicleDeprecationandAmortizationMember
2019-01-01
2019-06-30
0001657853
htz:OtherIncomeExpenseMember
2019-01-01
2019-06-30
0001657853
htz:NonVehicleRelatedServiceMember
htz:NonvehicleDeprecationandAmortizationMember
2018-04-01
2018-06-30
0001657853
htz:FinanceandInformationTechnologyTransformationCostsMember
2018-04-01
2018-06-30
0001657853
htz:RestructuringandRestructuringRelatedChargesMember
2019-01-01
2019-06-30
0001657853
htz:VehicleRelatedServiceMember
us-gaap:DeferredLossOnEarlyExtinguishmentOfDebtMember
2018-01-01
2018-06-30
0001657853
us-gaap:CorporateNonSegmentMember
2019-01-01
2019-06-30
0001657853
htz:FinanceandInformationTechnologyTransformationCostsMember
2019-04-01
2019-06-30
0001657853
htz:OtherIncomeExpenseMember
2018-01-01
2018-06-30
0001657853
htz:RestructuringandRestructuringRelatedChargesMember
2018-04-01
2018-06-30
0001657853
us-gaap:OperatingSegmentsMember
us-gaap:AllOtherSegmentsMember
2019-04-01
2019-06-30
0001657853
htz:NonVehicleRelatedServiceMember
htz:NonCashDebtChargesMember
2018-04-01
2018-06-30
0001657853
us-gaap:CorporateNonSegmentMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:FinanceandInformationTechnologyTransformationCostsMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:OtherIncomeExpenseMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:CorporateNonSegmentMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:FinanceandInformationTechnologyTransformationCostsMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
htz:NonCashDebtChargesMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
htz:NonvehicleDeprecationandAmortizationMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:FinanceandInformationTechnologyTransformationCostsMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
htz:NonvehicleDeprecationandAmortizationMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
htz:U.S.CarRentalMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:VehicleRelatedServiceMember
us-gaap:DeferredLossOnEarlyExtinguishmentOfDebtMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:CorporateNonSegmentMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
htz:InternationalCarRentalMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
htz:NonCashDebtChargesMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:RestructuringandRestructuringRelatedChargesMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:OtherIncomeExpenseMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:VehicleRelatedServiceMember
us-gaap:DeferredLossOnEarlyExtinguishmentOfDebtMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
htz:NonCashDebtChargesMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
us-gaap:AllOtherSegmentsMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonCashDebtChargesMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:CorporateNonSegmentMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:RestructuringandRestructuringRelatedChargesMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:OtherIncomeExpenseMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
htz:InternationalCarRentalMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
htz:NonvehicleDeprecationandAmortizationMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
us-gaap:AllOtherSegmentsMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:RestructuringandRestructuringRelatedChargesMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:OtherIncomeExpenseMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:CorporateNonSegmentMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
htz:NonCashDebtChargesMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonCashDebtChargesMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:FinanceandInformationTechnologyTransformationCostsMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
htz:U.S.CarRentalMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonCashDebtChargesMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:RestructuringandRestructuringRelatedChargesMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
htz:U.S.CarRentalMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:VehicleRelatedServiceMember
us-gaap:DeferredLossOnEarlyExtinguishmentOfDebtMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonVehicleRelatedServiceMember
htz:NonvehicleDeprecationandAmortizationMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
us-gaap:AllOtherSegmentsMember
2019-01-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
htz:U.S.CarRentalMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
htz:InternationalCarRentalMember
2018-01-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
us-gaap:AllOtherSegmentsMember
2019-04-01
2019-06-30
0001657853
htz:TheHertzCorporationMember
htz:NonCashDebtChargesMember
2018-04-01
2018-06-30
0001657853
htz:TheHertzCorporationMember
us-gaap:OperatingSegmentsMember
htz:InternationalCarRentalMember
2019-01-01
2019-06-30
0001657853
us-gaap:CostOfGoodsSegmentMember
us-gaap:ProductConcentrationRiskMember
us-gaap:AllOtherSegmentsMember
2019-01-01
2019-06-30
0001657853
srt:GuarantorSubsidiariesMember
2019-06-30
0001657853
srt:ConsolidationEliminationsMember
2018-12-31
0001657853
srt:SubsidiaryIssuerMember
srt:ReportableLegalEntitiesMember
2018-12-31
0001657853
srt:NonGuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2018-12-31
0001657853
srt:SubsidiaryIssuerMember
2018-12-31
0001657853
srt:NonGuarantorSubsidiariesMember
2018-12-31
0001657853
srt:GuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2018-12-31
0001657853
srt:GuarantorSubsidiariesMember
2018-12-31
0001657853
srt:SubsidiaryIssuerMember
srt:ReportableLegalEntitiesMember
2019-06-30
0001657853
srt:GuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2019-06-30
0001657853
srt:NonGuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2019-06-30
0001657853
srt:ConsolidationEliminationsMember
2019-06-30
0001657853
srt:NonGuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2018-04-01
2018-06-30
0001657853
srt:SubsidiaryIssuerMember
srt:ReportableLegalEntitiesMember
2018-04-01
2018-06-30
0001657853
srt:GuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2018-04-01
2018-06-30
0001657853
srt:ConsolidationEliminationsMember
2018-04-01
2018-06-30
0001657853
srt:GuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2019-04-01
2019-06-30
0001657853
srt:SubsidiaryIssuerMember
srt:ReportableLegalEntitiesMember
2019-04-01
2019-06-30
0001657853
srt:NonGuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2019-04-01
2019-06-30
0001657853
srt:ConsolidationEliminationsMember
2019-04-01
2019-06-30
0001657853
srt:GuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2019-01-01
2019-06-30
0001657853
srt:NonGuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2019-01-01
2019-06-30
0001657853
srt:SubsidiaryIssuerMember
srt:ReportableLegalEntitiesMember
2019-01-01
2019-06-30
0001657853
srt:ConsolidationEliminationsMember
2019-01-01
2019-06-30
0001657853
srt:ConsolidationEliminationsMember
2018-01-01
2018-06-30
0001657853
srt:NonGuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2018-01-01
2018-06-30
0001657853
srt:GuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2018-01-01
2018-06-30
0001657853
srt:SubsidiaryIssuerMember
srt:ReportableLegalEntitiesMember
2018-01-01
2018-06-30
0001657853
srt:SubsidiaryIssuerMember
srt:ReportableLegalEntitiesMember
2017-12-31
0001657853
srt:NonGuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2018-06-30
0001657853
srt:ConsolidationEliminationsMember
htz:VehicleRelatedServiceMember
2018-01-01
2018-06-30
0001657853
srt:GuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
htz:NonVehicleRelatedServiceMember
2018-01-01
2018-06-30
0001657853
srt:NonGuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
htz:NonVehicleRelatedServiceMember
2018-01-01
2018-06-30
0001657853
srt:NonGuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2017-12-31
0001657853
srt:GuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2018-06-30
0001657853
srt:NonGuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
htz:VehicleRelatedServiceMember
2018-01-01
2018-06-30
0001657853
srt:GuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
htz:VehicleRelatedServiceMember
2018-01-01
2018-06-30
0001657853
srt:SubsidiaryIssuerMember
srt:ReportableLegalEntitiesMember
htz:NonVehicleRelatedServiceMember
2018-01-01
2018-06-30
0001657853
srt:SubsidiaryIssuerMember
srt:ReportableLegalEntitiesMember
2018-06-30
0001657853
srt:ConsolidationEliminationsMember
htz:NonVehicleRelatedServiceMember
2018-01-01
2018-06-30
0001657853
srt:ConsolidationEliminationsMember
2017-12-31
0001657853
srt:ConsolidationEliminationsMember
2018-06-30
0001657853
srt:SubsidiaryIssuerMember
srt:ReportableLegalEntitiesMember
htz:VehicleRelatedServiceMember
2018-01-01
2018-06-30
0001657853
srt:GuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
2017-12-31
0001657853
srt:SubsidiaryIssuerMember
srt:ReportableLegalEntitiesMember
htz:NonVehicleRelatedServiceMember
2019-01-01
2019-06-30
0001657853
srt:GuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
htz:VehicleRelatedServiceMember
2019-01-01
2019-06-30
0001657853
srt:GuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
htz:NonVehicleRelatedServiceMember
2019-01-01
2019-06-30
0001657853
srt:NonGuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
htz:NonVehicleRelatedServiceMember
2019-01-01
2019-06-30
0001657853
srt:ConsolidationEliminationsMember
htz:NonVehicleRelatedServiceMember
2019-01-01
2019-06-30
0001657853
srt:NonGuarantorSubsidiariesMember
srt:ReportableLegalEntitiesMember
htz:VehicleRelatedServiceMember
2019-01-01
2019-06-30
0001657853
srt:ConsolidationEliminationsMember
htz:VehicleRelatedServiceMember
2019-01-01
2019-06-30
0001657853
srt:SubsidiaryIssuerMember
srt:ReportableLegalEntitiesMember
htz:VehicleRelatedServiceMember
2019-01-01
2019-06-30
0001657853
us-gaap:CommonStockMember
2019-06-24
0001657853
us-gaap:SubsequentEventMember
2019-07-12
2019-07-12
0001657853
us-gaap:SubsequentEventMember
2109-07-12
0001657853
htz:SeniorNotes7Point125PercentDue2026Member
us-gaap:SubsequentEventMember
2019-08-07
0001657853
htz:CommonStockOversubscriptionRightMember
us-gaap:SubsequentEventMember
2019-07-12
2019-07-12
0001657853
htz:CommonStockBasicSubscriptionRightMember
us-gaap:SubsequentEventMember
2019-07-12
2019-07-12
xbrli:shares
iso4217:USD
iso4217:USD
xbrli:shares
xbrli:pure
iso4217:EUR
iso4217:USD
iso4217:CAD
htz:segment
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
_______________________________________________________________________________
FORM 10-Q
|
| | |
☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For the quarterly period ended | June 30, 2019 |
OR |
☐ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
HERTZ GLOBAL HOLDINGS, INC.
THE HERTZ CORPORATION
(Exact name of registrant as specified in its charter)
|
| | | | | | |
Delaware | | 001-37665 | | 61-1770902 |
Delaware | | 001-07541 | | 13-1938568 |
(State or other jurisdiction of incorporation or organization) | | (Commission File Number) | | (I.R.S. Employer Identification No.) |
| | | | | | |
| | 8501 Williams Road | | |
| | Estero, | Florida | 33928 | | |
| | 239 | 301-7000 | | |
| | (Address, including Zip Code, and telephone number, including area code, of registrant's principal executive offices) | | |
| | | | | | |
| | | | |
| | Not Applicable | | |
| | (Former name, former address and former fiscal year, if changed since last report.) | | |
|
| | | | | | | |
Securities registered pursuant to Section 12(b) of the Act: |
| | Title of Each Class | | Trading Symbol(s) | | Name of Each Exchange on which Registered |
Hertz Global Holdings, Inc. | | Common Stock | par value $0.01 per share | | HTZ | | New York Stock Exchange |
The Hertz Corporation | | None | | None | | None |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Hertz Global Holdings, Inc. Yes ☒ No ☐
The Hertz Corporation Yes ☒ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Hertz Global Holdings, Inc. Yes ☒ No ☐
The Hertz Corporation Yes ☒ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.
|
| | | | | | |
Hertz Global Holdings, Inc. | Large accelerated filer | ☒ | Accelerated filer | ☐ | Non-accelerated filer | ☐ |
| Smaller reporting company | ☐ | Emerging growth company | ☐ | | |
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ | | |
The Hertz Corporation | Large accelerated filer | ☐ | Accelerated filer | ☐ | Non-accelerated filer | ☒ |
| Smaller reporting company | ☐ | Emerging growth company | ☐ | | |
| If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. | ☐ | | |
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Hertz Global Holdings, Inc. Yes ☐ No ☒
The Hertz Corporation Yes ☐ No ☒
Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.
|
| | | | | | |
| | Class | | Shares Outstanding at | July 30, 2019 |
Hertz Global Holdings, Inc. | | Common Stock, | par value $0.01 per share | | 142,067,813 |
The Hertz Corporation | | Common Stock, | par value $0.01 per share | | 100 |
| | | | | (100% owned by Rental Car Intermediate Holdings, LLC) |
| | | | | | |
HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
THE HERTZ CORPORATION AND SUBSIDIARIES
TABLE OF CONTENTS
HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
THE HERTZ CORPORATION AND SUBSIDIARIES
PART I. FINANCIAL INFORMATION
ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)
Index
|
| | |
| | Page |
Hertz Global Holdings, Inc. and Subsidiaries | |
| |
| |
| |
| |
| |
The Hertz Corporation and Subsidiaries | |
| |
| |
| |
| |
| |
Notes to the Condensed Consolidated Financial Statements | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
Unaudited
(In millions, except par value) |
| | | | | | | |
| June 30, 2019 | | December 31, 2018 |
ASSETS | | | |
Cash and cash equivalents | $ | 415 |
| | $ | 1,127 |
|
Restricted cash and cash equivalents: | | | |
Vehicle | 207 |
| | 257 |
|
Non-vehicle | 32 |
| | 26 |
|
Total restricted cash and cash equivalents | 239 |
| | 283 |
|
Total cash, cash equivalents, restricted cash and restricted cash equivalents | 654 |
| | 1,410 |
|
Receivables: | | | |
Vehicle | 434 |
| | 625 |
|
Non-vehicle, net of allowance of $29 and $27, respectively | 1,264 |
| | 962 |
|
Total receivables, net | 1,698 |
| | 1,587 |
|
Prepaid expenses and other assets | 926 |
| | 902 |
|
Revenue earning vehicles: | | | |
Vehicles | 19,687 |
| | 15,703 |
|
Less: accumulated depreciation | (3,242 | ) | | (3,284 | ) |
Total revenue earning vehicles, net | 16,445 |
| | 12,419 |
|
Property and equipment, net | 772 |
| | 778 |
|
Operating lease right-of-use assets | 1,547 |
| | — |
|
Intangible assets, net | 3,229 |
| | 3,203 |
|
Goodwill | 1,083 |
| | 1,083 |
|
Total assets(a) | $ | 26,354 |
| | $ | 21,382 |
|
LIABILITIES AND STOCKHOLDERS' EQUITY | | | |
Accounts payable: | | | |
Vehicle | $ | 705 |
| | $ | 284 |
|
Non-vehicle | 664 |
| | 704 |
|
Total accounts payable | 1,369 |
| | 988 |
|
Accrued liabilities | 1,358 |
| | 1,304 |
|
Accrued taxes, net | 164 |
| | 136 |
|
Debt: | | | |
Vehicle | 14,919 |
| | 11,902 |
|
Non-vehicle | 4,428 |
| | 4,422 |
|
Total debt | 19,347 |
| | 16,324 |
|
Operating lease liabilities | 1,538 |
| | — |
|
Public liability and property damage | 426 |
| | 418 |
|
Deferred income taxes, net | 1,082 |
| | 1,092 |
|
Total liabilities(a) | 25,284 |
| | 20,262 |
|
Commitments and contingencies |
|
| |
|
|
Stockholders' equity: | | | |
Preferred stock, $0.01 par value, no shares issued and outstanding | — |
| | — |
|
Common stock, $0.01 par value, 86 and 86 shares issued, respectively and 84 and 84 shares outstanding, respectively | 1 |
| | 1 |
|
Additional paid-in capital | 2,267 |
| | 2,261 |
|
Accumulated deficit | (1,017 | ) | | (909 | ) |
Accumulated other comprehensive income (loss) | (187 | ) | | (192 | ) |
Treasury stock, at cost, 2 shares and 2 shares, respectively | (100 | ) | | (100 | ) |
Stockholders' equity attributable to Hertz Global | 964 |
| | 1,061 |
|
Noncontrolling interests | 106 |
| | 59 |
|
Total stockholders' equity | 1,070 |
| | 1,120 |
|
Total liabilities and stockholders' equity | $ | 26,354 |
| | $ | 21,382 |
|
The accompanying notes are an integral part of these financial statements.
2
HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Unaudited
(In millions, except per share data)
|
| | | | | | | | | | | | | | | |
| Three Months Ended June 30, | | Six Months Ended June 30, |
| 2019 | | 2018 | | 2019 | | 2018 |
Revenues: | | | | | | | |
Worldwide vehicle rental | $ | 2,344 |
| | $ | 2,217 |
| | $ | 4,297 |
| | $ | 4,111 |
|
All other operations | 167 |
| | 172 |
| | 321 |
| | 341 |
|
Total revenues | 2,511 |
| | 2,389 |
| | 4,618 |
| | 4,452 |
|
Expenses: | | | | | | | |
Direct vehicle and operating | 1,388 |
| | 1,349 |
| | 2,655 |
| | 2,585 |
|
Depreciation of revenue earning vehicles and lease charges | 634 |
| | 687 |
| | 1,226 |
| | 1,348 |
|
Selling, general and administrative | 258 |
| | 265 |
| | 490 |
| | 498 |
|
Interest expense, net: | | | | | | | |
Vehicle | 127 |
| | 127 |
| | 238 |
| | 221 |
|
Non-vehicle | 72 |
| | 73 |
| | 144 |
| | 146 |
|
Total interest expense, net | 199 |
| | 200 |
| | 382 |
| | 367 |
|
Other (income) expense, net | (12 | ) | | (26 | ) | | (31 | ) | | (29 | ) |
Total expenses | 2,467 |
| | 2,475 |
| | 4,722 |
| | 4,769 |
|
Income (loss) before income taxes | 44 |
| | (86 | ) | | (104 | ) | | (317 | ) |
Income tax (provision) benefit | (4 | ) | | 23 |
| | (3 | ) | | 52 |
|
Net income (loss) | 40 |
| | (63 | ) | | (107 | ) | | (265 | ) |
Net (income) loss attributable to noncontrolling interests | (2 | ) | | — |
| | (1 | ) | | — |
|
Net income (loss) attributable to Hertz Global | $ | 38 |
| | $ | (63 | ) | | $ | (108 | ) | | $ | (265 | ) |
Weighted average shares outstanding: | | | | | | | |
Basic | 96 |
| | 96 |
| | 96 |
| | 95 |
|
Diluted | 97 |
| | 96 |
| | 96 |
| | 95 |
|
Earnings (loss) per share: | | | | | | | |
Basic earnings (loss) per share | $ | 0.40 |
| | $ | (0.66 | ) | | $ | (1.13 | ) | | $ | (2.78 | ) |
Diluted earnings (loss) per share | $ | 0.40 |
| | $ | (0.66 | ) | | $ | (1.13 | ) | | $ | (2.78 | ) |
The accompanying notes are an integral part of these financial statements.
3
HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
Unaudited
(In millions)
|
| | | | | | | | | | | | | | | |
| Three Months Ended June 30, | | Six Months Ended June 30, |
| 2019 | | 2018 | | 2019 | | 2018 |
Net income (loss) | $ | 40 |
| | $ | (63 | ) | | $ | (107 | ) | | $ | (265 | ) |
Other comprehensive income (loss): | | | | | | | |
Foreign currency translation adjustments | (5 | ) | | (19 | ) | | 3 |
| | (19 | ) |
Net gain (loss) on defined benefit pension plans | 1 |
|
| 5 |
|
| — |
|
| 2 |
|
Reclassification from other comprehensive income (loss) to other (income) expense for amortization of actuarial (gains) losses on defined benefit pension plans | 2 |
| | — |
| | 3 |
| | — |
|
Total other comprehensive income (loss) before income taxes | (2 | ) | | (14 | ) | | 6 |
| | (17 | ) |
Income tax (provision) benefit related to reclassified amounts of net periodic costs on defined benefit pension plans | — |
| | — |
| | (1 | ) | | — |
|
Total other comprehensive income (loss) | (2 | ) | | (14 | ) | | 5 |
| | (17 | ) |
Total comprehensive income (loss) | 38 |
| | (77 | ) | | (102 | ) | | (282 | ) |
Comprehensive (income) loss attributable to noncontrolling interests | (2 | ) | | — |
| | (1 | ) | | — |
|
Comprehensive income (loss) attributable to Hertz Global | $ | 36 |
| | $ | (77 | ) | | $ | (103 | ) | | $ | (282 | ) |
The accompanying notes are an integral part of these financial statements.
4
HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
Unaudited
(In millions)
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Preferred Stock Shares | | Common Stock Shares | | Common Stock Amount | | Additional Paid-In Capital | | Accumulated Deficit | | Accumulated Other Comprehensive Income (Loss) | | Treasury Stock Shares | | Treasury Stock Amount | | Stockholders' Equity Attributable to Hertz Global | | Non- controlling Interests | | Total Stockholders' Equity |
Balance as of: | | | | | |
December 31, 2017 | — |
| | 84 |
| | $ | 1 |
| | $ | 2,243 |
| | $ | (506 | ) | | $ | (118 | ) | | 2 |
| | $ | (100 | ) | | $ | 1,520 |
| | $ | — |
| | $ | 1,520 |
|
Change in accounting principle | — |
| | — |
| | — |
| | — |
| | (189 | ) | | — |
| | — |
| | — |
| | (189 | ) | | — |
| | (189 | ) |
January 1, 2018 (as adjusted) | — |
| | 84 |
| | 1 |
| | 2,243 |
| | (695 | ) | | (118 | ) | | 2 |
| | (100 | ) | | 1,331 |
| | — |
| | 1,331 |
|
Net income (loss) | — |
| | — |
| | — |
| | — |
| | (202 | ) | | — |
| | — |
| | — |
| | (202 | ) | | — |
| | (202 | ) |
Other comprehensive income (loss) | — |
| | — |
| | — |
| | — |
| | — |
| | (3 | ) | | — |
| | — |
| | (3 | ) | | — |
| | (3 | ) |
Net settlement on vesting of restricted stock | — |
| | — |
| | — |
| | (3 | ) | | — |
| | — |
| | — |
| | — |
| | (3 | ) | | — |
| | (3 | ) |
Stock-based compensation charges | — |
| | — |
| | — |
| | 10 |
| | — |
| | — |
| | — |
| | — |
| | 10 |
| | — |
| | 10 |
|
Contributions from noncontrolling interests | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 5 |
| | 5 |
|
March 31, 2018 | — |
| | 84 |
| | 1 |
| | 2,250 |
| | (897 | ) | | (121 | ) | | 2 |
| | (100 | ) | | 1,133 |
| | 5 |
| | 1,138 |
|
Net income (loss) | — |
| | — |
| | — |
| | — |
| | (63 | ) | | — |
| | — |
| | — |
| | (63 | ) | | — |
| | (63 | ) |
Other comprehensive income (loss) | — |
| | — |
| | — |
| | — |
| | — |
| | (14 | ) | | — |
| | — |
| | (14 | ) | | — |
| | (14 | ) |
Stock-based compensation charges | — |
| | — |
| | — |
| | 3 |
| | — |
| | — |
| | — |
| | — |
| | 3 |
| | — |
| | 3 |
|
Contributions from noncontrolling interests | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 5 |
| | 5 |
|
June 30, 2018 | — |
| | 84 |
| | $ | 1 |
| | $ | 2,253 |
| | $ | (960 | ) | | $ | (135 | ) | | 2 |
| | $ | (100 | ) | | $ | 1,059 |
| | $ | 10 |
| | $ | 1,069 |
|
|
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
| Preferred Stock Shares | | Common Stock Shares | | Common Stock Amount | | Additional Paid-In Capital | | Accumulated Deficit(a) | | Accumulated Other Comprehensive Income (Loss) | | Treasury Stock Shares | | Treasury Stock Amount | | Stockholders' Equity Attributable to Hertz Global | | Non- controlling Interests | | Total Stockholders' Equity |
Balance as of: | | | | | |
December 31, 2018 | — |
| | 84 |
| | $ | 1 |
| | $ | 2,261 |
| | $ | (909 | ) | | $ | (192 | ) | | 2 |
| | $ | (100 | ) | | $ | 1,061 |
| | $ | 59 |
| | $ | 1,120 |
|
Net income (loss) | — |
| | — |
| | — |
| | — |
| | (147 | ) | | — |
| | — |
| | — |
| | (147 | ) | | (1 | ) | | (148 | ) |
Other comprehensive income (loss) | — |
| | — |
| | — |
| | — |
| | — |
| | 7 |
| | — |
| | — |
| | 7 |
| | — |
| | 7 |
|
Net settlement on vesting of restricted stock | — |
| | — |
| | — |
| | (2 | ) | | — |
| | — |
| | — |
| | — |
| | (2 | ) | | — |
| | (2 | ) |
Stock-based compensation charges | — |
| | — |
| | — |
| | 3 |
| | — |
| | — |
| | — |
| | — |
| | 3 |
| | — |
| | 3 |
|
Contributions from noncontrolling interests | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 25 |
| | 25 |
|
March 31, 2019 | — |
| | 84 |
| | 1 |
| | 2,262 |
| | (1,056 | ) | | (185 | ) | | 2 |
| | (100 | ) | | 922 |
| | 83 |
| | 1,005 |
|
Net income (loss) | — |
| | — |
| | — |
| | — |
| | 39 |
| | — |
| | — |
| | — |
| | 39 |
| | 2 |
| | 41 |
|
Other comprehensive income (loss) | — |
| | — |
| | — |
| | — |
| | — |
| | (2 | ) | | — |
| | — |
| | (2 | ) | | — |
| | (2 | ) |
Stock-based compensation charges | — |
| | — |
| | — |
| | 5 |
| | — |
| | — |
| | — |
| | — |
| | 5 |
| | — |
| | 5 |
|
Contributions from noncontrolling interests | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | — |
| | 21 |
| | 21 |
|
June 30, 2019 | — |
| | 84 |
| | $ | 1 |
| | $ | 2,267 |
| | $ | (1,017 | ) | | $ | (187 | ) | | 2 |
| | $ | (100 | ) | | $ | 964 |
| | $ | 106 |
| | $ | 1,070 |
|
The accompanying notes are an integral part of these financial statements.
5
HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Unaudited
(In millions)
|
| | | | | | | |
| Six Months Ended June 30, |
| 2019 | | 2018 |
Cash flows from operating activities: | | | |
Net income (loss) | $ | (107 | ) | | $ | (265 | ) |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | | | |
Depreciation and reserves for revenue earning vehicles | 1,329 |
| | 1,306 |
|
Depreciation and amortization, non-vehicle | 99 |
| | 113 |
|
Amortization of deferred financing costs and debt discount (premium) | 26 |
| | 26 |
|
Loss on extinguishment of debt | — |
| | 22 |
|
Stock-based compensation charges | 8 |
| | 7 |
|
Provision for receivables allowance | 23 |
| | 19 |
|
Deferred income taxes, net | (13 | ) | | (74 | ) |
(Gain) loss on marketable securities | (20 | ) | | (17 | ) |
Other | (22 | ) | | 3 |
|
Changes in assets and liabilities: | | | |
Non-vehicle receivables | (316 | ) | | (275 | ) |
Prepaid expenses and other assets | (90 | ) | | (84 | ) |
Operating lease right-of-use assets | 200 |
| | — |
|
Non-vehicle accounts payable | 65 |
| | 154 |
|
Accrued liabilities | 56 |
| | 5 |
|
Accrued taxes, net | 29 |
| | 2 |
|
Operating lease liabilities | (211 | ) | | — |
|
Public liability and property damage | (2 | ) | | — |
|
Net cash provided by (used in) operating activities | 1,054 |
| | 942 |
|
Cash flows from investing activities: | | | |
Revenue earning vehicles expenditures | (8,947 | ) | | (7,610 | ) |
Proceeds from disposal of revenue earning vehicles | 4,212 |
| | 3,654 |
|
Capital asset expenditures, non-vehicle | (118 | ) | | (80 | ) |
Proceeds from property and other equipment disposed of or to be disposed of | 21 |
| | 8 |
|
Purchases of marketable securities | — |
| | (61 | ) |
Sales of marketable securities | — |
| | 36 |
|
Other | — |
| | (2 | ) |
Net cash provided by (used in) investing activities | (4,832 | ) | | (4,055 | ) |
The accompanying notes are an integral part of these financial statements.
6
HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
Unaudited
(In millions)
|
| | | | | | | |
| Six Months Ended June 30, |
| 2019 | | 2018 |
Cash flows from financing activities: | | | |
Proceeds from issuance of vehicle debt | 8,267 |
| | 9,414 |
|
Repayments of vehicle debt | (5,254 | ) | | (6,829 | ) |
Proceeds from issuance of non-vehicle debt | 815 |
| | 187 |
|
Repayments of non-vehicle debt | (823 | ) | | (194 | ) |
Payment of financing costs | (23 | ) | | (27 | ) |
Early redemption premium payment | — |
| | (19 | ) |
Contributions from noncontrolling interests | 45 |
| | 10 |
|
Other | (4 | ) | | (2 | ) |
Net cash provided by (used in) financing activities | 3,023 |
| | 2,540 |
|
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | (1 | ) | | (10 | ) |
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period | (756 | ) | | (583 | ) |
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period | 1,410 |
| | 1,504 |
|
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period | $ | 654 |
| | $ | 921 |
|
|
|
| |
| |