| Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | |
|---|---|---|---|---|---|---|
Cash flows from operating activities: | ||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ||||||
-50 | -227 | 327 | -491 | 273 | -82 | |
Net income (loss) from discontinued operations | ||||||
- | - | - | -17 | 158 | 132 | |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ||||||
- | - | - | -474 | 115 | -214 | |
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | ||||||
Depreciation and reserves for revenue earning vehicles | ||||||
2,791 | 2,546 | 2,722 | 2,531 | 2,361 | 2,625 | |
Depreciation and amortization, non-vehicle | ||||||
203 | 218 | 240 | 265 | 274 | 291 | |
Amortization of deferred financing costs and debt discount (premium) | ||||||
52 | 50 | 46 | 48 | 54 | 51 | |
Amortization and write-off of debt discount (premium) | ||||||
- | - | - | - | - | -13 | |
Loss on extinguishment of debt | ||||||
-43 | -22 | -13 | -55 | 0 | -1 | |
Stock-based compensation charges | ||||||
18 | 14 | 19 | 13 | 16 | 10 | |
Provision for receivables allowance | ||||||
53 | 35 | 33 | 51 | 36 | 38 | |
Deferred income taxes, net | ||||||
27 | -66 | -922 | -78 | 11 | -23 | |
(Gain) loss on marketable securities | ||||||
30 | 20 | 3 | 84 | 133 | 0 | |
(Gain) loss on sale of non-vehicle capital assets | ||||||
39 | 1 | 2 | - | - | - | |
(Gain) loss on derivatives | ||||||
12 | -7 | 0 | - | - | - | |
Impairment charges and asset write-downs | ||||||
0 | 0 | 116 | 340 | 70 | 37 | |
Other | ||||||
3 | 0 | -5 | 8 | -7 | -10 | |
Changes in assets and liabilities: | ||||||
Non-vehicle receivables | ||||||
88 | 136 | 75 | 174 | 62 | 42 | |
Prepaid expenses and other assets | ||||||
8 | 23 | 22 | 31 | 11 | 53 | |
Operating lease right-of-use assets | ||||||
402 | - | - | - | - | - | |
Non-vehicle accounts payable | ||||||
65 | 70 | 20 | 31 | -8 | 54 | |
Accrued liabilities | ||||||
-88 | 75 | -86 | -40 | 44 | 142 | |
Accrued taxes, net | ||||||
14 | -8 | -23 | 38 | -21 | -10 | |
Operating lease liabilities | ||||||
-428 | - | - | - | - | - | |
Self-insured liabilities | ||||||
-28 | 0 | -4 | 30 | 37 | 57 | |
Net cash provided by (used in) operating activities | ||||||
2,900 | 2,556 | 2,394 | 2,529 | 2,776 | 2,941 | |
Revenue earning vehicles expenditures | ||||||
13,714 | 12,493 | 10,596 | 10,872 | 11,266 | 9,814 | |
Proceeds from disposal of revenue earning vehicles | ||||||
9,486 | 8,452 | 7,653 | 8,679 | 8,676 | 7,167 | |
Non-vehicle capital asset expenditures | ||||||
224 | 177 | 173 | 134 | 250 | 331 | |
Proceeds from non-vehicle capital assets disposed of or to be disposed of | ||||||
27 | 51 | 21 | 59 | 107 | 78 | |
Proceeds from sale of Brazil Operations, net of retained cash | ||||||
0 | 0 | 94 | 0 | 0 | - | |
Acquisitions, net of cash acquired | ||||||
1 | 2 | 15 | 2 | 95 | 75 | |
Purchases of marketable securities | ||||||
0 | 60 | 0 | - | - | - | |
Sales of marketable securities | ||||||
0 | 36 | 9 | 267 | - | - | |
Payments to Acquire Investments | ||||||
- | - | - | 0 | - | - | |
Return of (investment in) equity investment | ||||||
0 | 0 | -7 | 45 | -236 | 30 | |
Other | ||||||
-1 | 4 | 0 | 0 | - | - | |
Net cash provided by (used in) investing activities | ||||||
-4,425 | -4,197 | -3,000 | -2,048 | -2,380 | -2,756 | |
Proceeds from issuance of vehicle debt | ||||||
- | - | - | - | - | 4,410 | |
Repayments of vehicle debt | ||||||
- | - | - | - | - | 4,523 | |
Proceeds from issuance of non-vehicle debt | ||||||
- | - | - | - | - | 2,480 | |
Repayments of non-vehicle debt | ||||||
- | - | - | - | - | 2,457 | |
Purchase of treasury shares | ||||||
- | - | - | 100 | 605 | 0 | |
Payment of financing costs | ||||||
53 | 47 | 59 | 75 | 29 | 63 | |
Early redemption premium payment | ||||||
34 | 19 | 5 | 27 | 0 | 0 | |
Transfers from discontinued entities | ||||||
- | - | - | 2,122 | 61 | 72 | |
Contributions from noncontrolling interests | ||||||
49 | 60 | 0 | 0 | - | - | |
Proceeds from Rights Offering, net | ||||||
748 | 0 | 0 | - | - | - | |
Other | ||||||
-3 | -2 | 0 | 12 | 1 | -4 | |
Net cash provided by (used in) financing activities | ||||||
1,474 | 1,561 | 988 | -183 | -368 | -77 | |
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | ||||||
1 | -14 | 28 | -11 | -28 | -30 | |
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period | ||||||
-50 | -94 | 410 | 287 | 0 | 78 | |
Cash flows from discontinued operations: | ||||||
Cash flows provided by (used in) operating activities | ||||||
- | - | - | 205 | 556 | 511 | |
Cash flows provided by (used in) investing activities | ||||||
- | - | - | -77 | -385 | -427 | |
Cash flows provided by (used in) financing activities | ||||||
- | - | - | -97 | -172 | -82 | |
Effect of foreign currency exchange rate changes on cash and cash equivalents of discontinued operations | ||||||
- | - | - | - | -3 | -1 | |
Net Cash Provided by (Used in) Discontinued Operations | ||||||
- | - | - | 31 | -4 | 1 | |
Supplemental disclosures of cash flow information: | ||||||
Cash paid during the period for: | ||||||
Income taxes, net of refunds | ||||||
21 | 26 | 54 | 57 | 24 | 42 | |
Operating lease liabilities | ||||||
575 | - | - | - | - | - | |
Supplemental disclosures of non-cash flow information: | ||||||
Purchases of revenue earning vehicles included in accounts payable, net of incentives | ||||||
165 | 169 | 194 | 185 | 140 | 115 | |
Sales of revenue earning vehicles included in vehicle receivables | ||||||
667 | 510 | 431 | 473 | 1,069 | 482 | |
Sales of property and other equipment included in receivables | ||||||
0 | 75 | 0 | 0 | 15 | 2 | |
Purchases of non-vehicle capital assets included in accounts payable | ||||||
40 | 42 | 65 | 20 | 37 | 67 | |
Revenue earning vehicles and non-vehicle capital assets acquired through capital lease | ||||||
23 | 21 | 35 | 22 | 11 | 16 | |
Receivable on sale of Brazil Operations | ||||||
0 | 0 | 13 | 0 | 0 | 130 | |
Operating lease right-of-use assets obtained in exchange for lease liabilities | ||||||
680 | 0 | 0 | - | - | - | |
The Hertz Corporation | ||||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest | ||||||
-45 | -222 | 332 | -488 | - | - | |
Net income (loss) from discontinued operations | ||||||
- | - | - | -15 | - | - | |
Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest | ||||||
- | - | - | -473 | - | - | |
Depreciation and reserves for revenue earning vehicles | ||||||
2,791 | 2,546 | 2,722 | 2,531 | - | - | |
Depreciation and amortization, non-vehicle | ||||||
203 | 218 | 240 | 265 | - | - | |
Amortization of deferred financing costs and debt discount (premium) | ||||||
52 | 50 | 46 | 48 | - | - | |
Loss on extinguishment of debt | ||||||
-43 | -22 | -13 | -55 | - | - | |
Stock-based compensation charges | ||||||
18 | 14 | 19 | 13 | - | - | |
Provision for receivables allowance | ||||||
53 | 35 | 33 | 51 | - | - | |
Deferred income taxes, net | ||||||
28 | -64 | -922 | -78 | - | - | |
(Gain) loss on sale of non-vehicle capital assets | ||||||
39 | 1 | 2 | - | - | - | |
(Gain) loss on derivatives | ||||||
12 | -7 | 0 | - | - | - | |
(Gain) loss on marketable securities | ||||||
30 | 20 | 3 | 84 | - | - | |
Impairment charges and asset write-downs | ||||||
0 | 0 | 116 | 340 | - | - | |
Other | ||||||
4 | 0 | -4 | 8 | - | - | |
Non-vehicle receivables | ||||||
88 | 136 | 75 | 174 | - | - | |
Prepaid expenses and other assets | ||||||
8 | 23 | 22 | 31 | - | - | |
Operating lease right-of-use assets | ||||||
402 | - | - | - | - | - | |
Non-vehicle accounts payable | ||||||
65 | 70 | 20 | 31 | - | - | |
Accrued liabilities | ||||||
-88 | 75 | -86 | -40 | - | - | |
Accrued taxes, net | ||||||
14 | -8 | -24 | 38 | - | - | |
Operating lease liabilities | ||||||
-428 | - | - | - | - | - | |
Self-insured liabilities | ||||||
-28 | 0 | -4 | 30 | - | - | |
Net cash provided by (used in) operating activities | ||||||
2,907 | 2,563 | 2,399 | 2,530 | - | - | |
Revenue earning vehicles expenditures | ||||||
13,714 | 12,493 | 10,596 | 10,872 | - | - | |
Proceeds from disposal of revenue earning vehicles | ||||||
9,486 | 8,452 | 7,653 | 8,679 | - | - | |
Non-vehicle capital asset expenditures | ||||||
224 | 177 | 173 | 134 | - | - | |
Proceeds from non-vehicle capital assets disposed of or to be disposed of | ||||||
27 | 51 | 21 | 59 | - | - | |
Proceeds from sale of Brazil Operations, net of retained cash | ||||||
0 | 0 | 94 | 0 | - | - | |
Acquisitions, net of cash acquired | ||||||
1 | 2 | 15 | 2 | - | - | |
Purchases of marketable securities | ||||||
0 | 60 | - | - | - | - | |
Sales of marketable securities | ||||||
0 | 36 | 9 | 267 | - | - | |
Return of (investment in) equity investment | ||||||
0 | 0 | -7 | 45 | - | - | |
Other | ||||||
-1 | 4 | 0 | 0 | - | - | |
Net cash provided by (used in) investing activities | ||||||
-4,425 | -4,197 | -3,000 | -2,048 | - | - | |
Payment of financing costs | ||||||
53 | 47 | 59 | - | - | - | |
Early redemption premium payment | ||||||
34 | 19 | 5 | 27 | - | - | |
Advances to Hertz Holdings | ||||||
12 | 9 | 6 | 102 | - | - | |
Transfers from discontinued entities | ||||||
- | - | - | 2,122 | - | - | |
Contributions from noncontrolling interests | ||||||
49 | 60 | 0 | - | - | - | |
Proceeds from Rights Offering, net | ||||||
750 | - | - | - | - | - | |
Other | ||||||
0 | 0 | 1 | 13 | - | - | |
Net cash provided by (used in) financing activities | ||||||
1,467 | 1,554 | 983 | -184 | - | - | |
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents | ||||||
1 | -14 | 28 | -11 | - | - | |
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period | ||||||
-50 | -94 | 410 | 287 | - | - | |
Cash flows provided by (used in) operating activities | ||||||
- | - | - | 207 | - | - | |
Cash flows provided by (used in) investing activities | ||||||
- | - | - | -77 | - | - | |
Cash flows provided by (used in) financing activities | ||||||
- | - | - | -94 | - | - | |
Net Cash Provided by (Used in) Discontinued Operations | ||||||
- | - | - | 36 | - | - | |
Income taxes, net of refunds | ||||||
21 | 26 | 54 | 57 | - | - | |
Operating lease liabilities | ||||||
575 | - | - | - | - | - | |
Purchases of revenue earning vehicles included in accounts payable, net of incentives | ||||||
165 | 169 | 194 | 185 | - | - | |
Sales of revenue earning vehicles included in receivables | ||||||
667 | 510 | 431 | 473 | - | - | |
Purchases of non-vehicle capital assets included in accounts payable | ||||||
40 | 42 | 65 | 20 | - | - | |
Revenue earning vehicles and non-vehicle capital assets acquired through capital lease | ||||||
23 | 21 | 35 | 22 | - | - | |
Receivable on sale of Brazil Operations | ||||||
0 | 0 | 13 | 0 | - | - | |
Operating lease right-of-use assets obtained in exchange for lease liabilities | ||||||
680 | 0 | 0 | - | - | - | |
Non-cash dividend paid to affiliate | ||||||
- | - | - | 334 | - | - | |
Vehicles | ||||||
Loss on extinguishment of debt | ||||||
0 | -22 | 0 | -6 | - | - | |
Proceeds from issuance of debt | ||||||
13,013 | 14,009 | 10,756 | 9,692 | - | - | |
Repayments of debt | ||||||
11,530 | 12,426 | 10,244 | 9,748 | - | - | |
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period from continuing operations | ||||||
- | - | - | 0 | - | - | |
Interest, net of amounts capitalized: | ||||||
431 | 379 | 291 | 235 | - | - | |
Non-Vehicle | ||||||
Loss on extinguishment of debt | ||||||
-43 | 0 | -13 | -49 | - | - | |
Non-vehicle | ||||||
Proceeds from issuance of debt | ||||||
3,016 | 557 | 2,100 | 2,592 | - | - | |
Repayments of debt | ||||||
3,732 | 571 | 1,560 | 4,651 | - | - | |
Interest, net of amounts capitalized: | ||||||
272 | 286 | 291 | 292 | - | - | |
Non-Vehicle Related Service | ||||||
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period from continuing operations | ||||||
- | - | - | 0 | - | - | |