Hertz global holdings, inc (HTZ)
CashFlow / Quarterly
Mar'20Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16
Cash flows from operating activities:
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

-357

-115

172

41

-148

-102

140

-63

-202

616

92

-158

-223

-440

42

-42

-51

Net income (loss) from discontinued operations

-

-

-

-

-

-

-

-

-

-

-

-

-

-2

-2

-14

1

Income (Loss) from Continuing Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest

-

-

-

-

-

-

-

-

-

-

-

-

-

-438

44

-28

-52

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles

733

735

727

685

644

594

646

665

641

633

679

726

684

644

675

611

601

Depreciation and amortization, non-vehicle

53

52

52

51

48

52

53

55

58

58

62

62

58

70

67

61

67

Amortization of deferred financing costs and debt discount (premium)

12

12

14

12

14

14

10

13

13

13

12

11

10

17

9

9

13

Amortization and write-off of debt discount (premium)

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2

2

1

Stock-based compensation charges

0

4

6

5

3

4

3

4

3

3

4

5

7

-3

4

7

5

Provision for receivables allowance

15

18

12

13

10

6

10

10

9

5

11

9

8

16

11

10

14

Deferred income taxes, net

-13

-31

71

-9

-4

-27

35

-38

-36

-784

37

-104

-71

-89

60

-34

-15

Marketable Securities, Gain (Loss)

0

-

-

-

11

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on marketable securities

-

-

-

-

-

-1

4

17

0

-

-

-

-

9

0

0

75

(Gain) loss on sale of non-vehicle capital assets

21

-

-

-

8

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on derivatives

0

-

-

-

5

-

-

-

-

-

-

-

-

-

-

-

-

Impairment charges and asset write-downs

-

-

-

-

-

-

-

-

-

0

0

86

30

309

28

3

0

Other

4

26

-1

-22

0

-1

-2

-1

4

7

-19

13

-6

8

4

0

-4

Changes in assets and liabilities:
Non-vehicle receivables

-226

-44

-184

283

33

-81

-58

168

107

-109

4

203

-23

3

-43

159

55

Prepaid expenses and other assets

61

-36

-46

35

55

-35

-26

20

64

-3

-46

36

35

17

-34

24

24

Operating lease right-of-use assets

100

97

105

110

90

-

-

-

-

-

-

-

-

-

-

-

-

Non-vehicle accounts payable

-86

-7

7

33

32

-49

-35

81

73

-120

25

86

29

6

-18

34

9

Accrued liabilities

-59

-48

-96

31

25

-31

101

1

4

-81

48

-23

-30

-56

31

8

-23

Accrued taxes, net

-14

-11

-4

19

10

-29

19

0

2

-32

10

-9

8

15

9

21

-7

Operating lease liabilities

-66

-

-

-

-94

-

-

-

-

-

-

-

-

-

-

-

-

Self-insured liabilities

-17

-24

-2

2

-4

-15

15

-3

3

-22

17

8

-7

-2

14

12

6

Net cash provided by (used in) operating activities

449

667

1,179

540

514

539

1,075

541

401

417

1,014

478

485

478

1,037

553

461

Revenue earning vehicles expenditures

4,346

2,178

2,589

4,974

3,973

2,417

2,466

4,045

3,565

1,913

1,974

3,872

2,837

2,162

1,823

3,502

3,385

Proceeds from disposal of revenue earning vehicles

2,212

3,293

1,981

2,059

2,153

3,074

1,724

1,872

1,782

2,368

1,450

1,900

1,935

2,259

1,633

2,025

2,762

Non-vehicle capital asset expenditures

59

54

52

64

54

58

39

36

44

49

40

43

41

35

27

26

46

Proceeds from non-vehicle capital assets disposed of or to be disposed of

23

6

0

2

19

4

39

4

4

3

7

4

7

6

14

20

19

Sales of marketable securities

74

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Return of (investment in) equity investment

-

-

-

-

-

-

-

-

-

-

-

-

-

233

0

45

-233

Other

1

-1

0

0

0

-1

3

-25

27

-4

2

11

-9

-

-

-

-

Net cash provided by (used in) investing activities

-2,097

1,067

-660

-2,977

-1,855

602

-744

-2,205

-1,850

405

-465

-2,013

-927

91

-210

-1,505

-424

Proceeds from issuance of vehicle debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,449

Repayments of vehicle debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,240

Proceeds from issuance of non-vehicle debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

365

Repayments of non-vehicle debt

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

371

Payment of financing costs

9

20

10

11

12

17

3

8

19

16

9

22

12

2

22

41

10

Transfers from discontinued entities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

2,000

122

Contributions from noncontrolling interests

0

0

4

20

25

35

15

5

5

-

-

-

-

-

-

-

-

Other

-2

0

1

-2

-2

1

-1

1

-3

1

0

0

-1

2

-2

4

8

Net cash provided by (used in) financing activities

1,701

-1,077

-472

2,084

939

-747

-232

663

1,877

-1,097

-984

2,678

391

-1,217

-684

1,395

323

Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents

-4

8

-6

1

-2

-10

6

-18

8

2

9

9

8

-21

2

-4

12

Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period

49

665

41

-352

-404

384

105

-1,019

436

-273

-426

1,152

-43

-669

145

439

372

Cash flows provided by (used in) operating activities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

89

116

Cash flows provided by (used in) investing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

1

-85

7

Cash flows provided by (used in) financing activities

-

-

-

-

-

-

-

-

-

-

-

-

-

0

-1

28

-124

Net Cash Provided by (Used in) Discontinued Operations

-

-

-

-

-

-

-

-

-

-

-

-

-

0

0

32

-1

Supplemental disclosures of cash flow information:
Cash paid during the period for:
Income taxes, net of refunds

5

9

-3

9

6

11

5

4

6

14

11

27

2

22

10

11

14

Supplemental disclosures of non-cash flow information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives

200

122

-524

136

431

68

-447

-65

613

125

-477

109

437

47

-422

5

555

Sales of revenue earning vehicles included in vehicle receivables

1,043

-

-

-

365

-

-

-

-

-

-

-

215

-130

211

-52

444

Sales of property and other equipment included in receivables

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

6

11

Purchases of non-vehicle capital assets included in accounts payable

32

-8

2

1

45

-1

1

0

42

16

8

11

30

5

-4

1

18

Revenue earning vehicles and non-vehicle capital assets acquired through capital lease

-

-

-

-

-

-

-

-

-

11

11

11

2

-

-

-

-

Operating lease right-of-use assets obtained in exchange for lease liabilities

-

-

-

-

-

0

0

0

0

-

-

-

-

-

-

-

-

The Hertz Corporation
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest

-356

-114

174

41

-146

-100

141

-62

-201

618

94

-158

-222

-

-

-

-

Depreciation and reserves for revenue earning vehicles

733

735

727

685

644

594

646

665

641

633

679

726

684

-

-

-

-

Depreciation and amortization, non-vehicle

53

52

52

51

48

52

53

55

58

58

62

62

58

-

-

-

-

Amortization of deferred financing costs and debt discount (premium)

12

12

14

12

14

14

10

13

13

13

12

11

10

-

-

-

-

Stock-based compensation charges

0

4

6

5

3

4

3

4

3

3

4

5

7

-

-

-

-

Provision for receivables allowance

15

18

12

13

10

6

10

10

9

5

11

9

8

-

-

-

-

Deferred income taxes, net

-12

-31

71

-8

-4

-26

35

-37

-36

-785

37

-103

-71

-

-

-

-

Marketable Securities, Gain (Loss)

0

-

-

-

11

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on sale of non-vehicle capital assets

21

-

-

-

8

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on derivatives

0

-

-

-

5

-

-

-

-

-

-

-

-

-

-

-

-

(Gain) loss on marketable securities

-

-

-

-

-

-1

4

17

0

-

-

-

-

-

-

-

-

Impairment charges and asset write-downs

-

-

-

-

-

-

-

-

-

0

0

86

30

-

-

-

-

Other

3

27

-1

-22

0

-1

-2

-1

4

8

-19

13

-6

-

-

-

-

Non-vehicle receivables

-226

-44

-184

283

33

-81

-58

168

107

-109

4

203

-23

-

-

-

-

Prepaid expenses and other assets

61

-36

-46

35

55

-35

-26

20

64

-3

-46

36

35

-

-

-

-

Operating lease right-of-use assets

100

97

105

110

90

-

-

-

-

-

-

-

-

-

-

-

-

Non-vehicle accounts payable

-86

-7

7

33

32

-49

-35

81

73

-120

25

86

29

-

-

-

-

Accrued liabilities

-59

-48

-96

31

25

-31

101

1

4

-81

48

-23

-30

-

-

-

-

Accrued taxes, net

-14

-11

-4

19

10

-29

19

0

2

-33

10

-9

8

-

-

-

-

Operating lease liabilities

-66

-

-

-

-94

-

-

-

-

-

-

-

-

-

-

-

-

Self-insured liabilities

-17

-24

-2

2

-4

-15

15

-3

3

-22

17

8

-7

-

-

-

-

Net cash provided by (used in) operating activities

450

669

1,181

541

516

542

1,076

543

402

418

1,016

479

486

-

-

-

-

Revenue earning vehicles expenditures

4,346

2,178

2,589

4,974

3,973

2,417

2,466

4,045

3,565

1,913

1,974

3,872

2,837

-

-

-

-

Proceeds from disposal of revenue earning vehicles

2,212

3,293

1,981

2,059

2,153

3,074

1,724

1,872

1,782

2,368

1,450

1,900

1,935

-

-

-

-

Non-vehicle capital asset expenditures

59

54

52

64

54

58

39

36

44

49

40

43

41

-

-

-

-

Proceeds from non-vehicle capital assets disposed of or to be disposed of

23

6

0

2

19

4

39

4

4

3

7

4

7

-

-

-

-

Sales of marketable securities

74

0

0

0

0

-

-

-

-

-

-

-

-

-

-

-

-

Other

1

-1

0

0

0

-1

3

-25

27

-4

2

11

-9

-

-

-

-

Net cash provided by (used in) investing activities

-2,097

1,067

-660

-2,977

-1,855

602

-744

-2,205

-1,850

405

-465

-2,013

-927

-

-

-

-

Payment of financing costs

9

20

10

11

12

17

3

8

19

16

9

22

12

-

-

-

-

Advances to Hertz Holdings

3

2

4

2

4

2

1

2

4

2

1

1

2

-

-

-

-

Contributions from noncontrolling interests

0

-

-

-

25

35

24

-4

5

-

-

-

-

-

-

-

-

Other

-

-

-

-

-

-

-

10

0

2

-1

0

0

-

-

-

-

Net cash provided by (used in) financing activities

1,700

-1,079

-474

2,083

937

-750

-233

661

1,876

-1,098

-986

2,677

390

-

-

-

-

Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents

-4

8

-6

1

-2

-10

6

-18

8

2

9

9

8

-

-

-

-

Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period

49

665

41

-352

-404

384

105

-1,019

436

-273

-426

1,152

-43

-

-

-

-

Income taxes, net of refunds

5

9

-3

9

6

11

5

4

6

14

11

27

2

-

-

-

-

Purchases of revenue earning vehicles included in accounts payable, net of incentives

200

122

-524

136

431

68

-447

-65

613

125

-477

109

437

-

-

-

-

Sales of revenue earning vehicles included in receivables

-

-

-

-

-

-

-

-

-

-

-

-

215

-

-

-

-

Purchases of non-vehicle capital assets included in accounts payable

32

-8

2

1

45

-1

1

0

42

16

8

11

30

-

-

-

-

Revenue earning vehicles and non-vehicle capital assets acquired through capital lease

-

-

-

-

-

-

-

-

-

11

11

11

2

-

-

-

-

Vehicles
Proceeds from issuance of debt

3,661

1,974

2,772

4,600

3,667

2,138

2,457

4,233

5,181

3,849

1,879

2,930

2,098

-

-

-

-

Repayments of debt

2,538

2,992

3,284

2,518

2,736

2,901

2,696

3,546

3,283

4,357

2,222

1,973

1,692

-

-

-

-

Interest, net of amounts capitalized:

103

100

118

126

87

111

93

93

82

79

82

63

67

-

-

-

-

Sales of revenue earning vehicles included in vehicle receivables

-

-

-

-

-

-

454

-64

268

-

-

-

-

-

-

-

-

Sales of revenue earning vehicles included in other receivables

-

-

-

-

-

-

-

-

0

-

-

-

-

-

-

-

-

Non-vehicle
Proceeds from issuance of debt

1,440

1,290

911

474

341

170

200

60

127

0

0

2,000

100

-

-

-

-

Repayments of debt

851

1,295

1,614

479

344

173

204

63

131

574

632

252

102

-

-

-

-

Interest, net of amounts capitalized:

26

90

42

111

29

115

29

114

28

127

36

98

30

-

-

-

-