Herc (HRI) 10-Q 8 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 04, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	HERC HOLDINGS INC.
Entity Central Index Key	1,364,479
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		28,312,817

CONDENSED CONSOLIDATED AND COMB

CONDENSED CONSOLIDATED AND COMBINED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 51.9	$ 15.7
Restricted cash and cash equivalents	4.7	16
Receivables, net of allowance of $26.7 and $23.8, respectively	290	287.8
Taxes receivable	7.5	8.7
Inventories	24.5	22.3
Prepaid expenses and other current assets	12.2	11
Total current assets	390.8	361.5
Revenue earning equipment, net	2,487.1	2,382.5
Property and equipment, net	270.2	246.6
Other intangible assets, net	303.7	300.5
Goodwill	91	91
Other long-term assets	35.2	14.9
Total assets	3,578	3,397
LIABILITIES AND EQUITY
Current maturities of long-term debt	15.5	10.2
Loans payable to affiliates	0	73.2
Accounts payable	262.9	109.5
Accrued liabilities	102.5	47.8
Taxes payable	12.3	41.6
Total current liabilities	393.2	282.3
Long-term debt	2,124.4	53.3
Deferred taxes	666.7	727.3
Other long-term liabilities	41.3	32.1
Total liabilities	3,225.6	1,095
Commitments and contingencies
Equity:
Preferred Stock, $0.01 par value, 13.3 shares authorized, no shares issued and outstanding	0	0
Common Stock, $0.01 par value, 133.3 shares authorized, 31.0 and 30.9 shares issued and 28.3 and 28.2 shares outstanding	0.3	0.3
Additional paid-in capital	1,772.2	3,734.6
Accumulated deficit	(612)	(605.5)
Accumulated other comprehensive loss	(116.1)	(135.4)
Treasury Stock, at cost, 2.7 shares and 2.7 shares	(692)	(692)
Total equity	352.4	2,302
Total liabilities and equity	$ 3,578	$ 3,397

CONDENSED CONSOLIDATED AND COM3

CONDENSED CONSOLIDATED AND COMBINED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Receivables, allowance for doubtful accounts	$ 26.7	$ 23.8
Preferred Stock, par value (in USD per share)	$ 0.01	$ 0.01
Preferred Stock, shares authorized (in shares)	13,300,000	13,300,000
Preferred Stock, shares issued (in shares)	0	0
Preferred Stock, shares outstanding (in shares)	0	0
Common Stock, par value (in USD per share)	$ 0.01	$ 0.01
Common Stock, shares authorized (in shares)	133,300,000	133,300,000
Common Stock, shares issued (in shares)	31,000,000	30,900,000
Common Stock, shares outstanding (in shares)	28,300,000	28,200,000
Treasury Stock, shares (in shares)	2,700,000	2,700,000

CONDENSED CONSOLIDATED AND COM4

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Equipment rentals	$ 360.3	$ 373.2	$ 996	$ 1,052.5
Sales of revenue earning equipment	24.9	30.4	94	124.5
Sales of new equipment, parts and supplies	15.7	25.3	50.9	68.2
Service and other revenues	2.7	2.9	8.7	10.6
Total revenues	403.6	431.8	1,149.6	1,255.8
Expenses:
Direct operating	169.6	185.7	487.3	538.2
Depreciation of revenue earning equipment	89.1	87.9	255.1	257.6
Cost of sales of revenue earning equipment	27.5	28.7	111.6	110.4
Cost of sales of new equipment, parts and supplies	12.1	20.6	39.2	54.3
Selling, general and administrative	67	62.8	200.5	206
Restructuring	0.1	2.5	3.5	3.5
Interest expense, net	32.3	9.3	52.1	27.8
Other income, net	(0.8)	(1.2)	(2.2)	(3.8)
Total expenses	396.9	396.3	1,147.1	1,194
Income before income taxes	6.7	35.5	2.5	61.8
Income tax expense	(3.7)	(14.7)	(9)	(28.7)
Net income (loss)	$ 3	$ 20.8	$ (6.5)	$ 33.1
Weighted average shares outstanding:
Basic (in shares)	28.3	30.3	28.3	30.5
Diluted (in shares)	28.3	30.3	28.3	30.5
Earnings (loss) per share:
Basic (in USD per share)	$ 0.11	$ 0.69	$ (0.23)	$ 1.09
Diluted (in USD per share)	$ 0.11	$ 0.69	$ (0.23)	$ 1.09

CONDENSED CONSOLIDATED AND COM5

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 3	$ 20.8	$ (6.5)	$ 33.1
Other comprehensive income (loss):
Foreign currency translation adjustments	(0.6)	(34.6)	23.3	(47.7)
Defined benefit pension plans:
Amortization of actuarial losses and settlement losses	0.5	0.1	1.4	0.5
Net loss arising during the period	0	0	(7.8)	(0.2)
Income tax (provision) benefit related to defined benefit pension plans	(0.2)	0.2	2.4	0.1
Total other comprehensive income (loss)	(0.3)	(34.3)	19.3	(47.3)
Total comprehensive income (loss)	$ 2.7	$ (13.5)	$ 12.8	$ (14.2)

CONDENSED CONSOLIDATED AND COM6

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CHANGES IN EQUITY (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2014		30.6
Beginning balance at Dec. 31, 2014	$ 1,693.7	$ 0.3	$ 2,530	$ (716.8)	$ (32.3)	$ (87.5)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	33.1			33.1
Other comprehensive income	(47.3)				(47.3)
Net settlement on vesting of equity awards	(4.5)		(4.5)
Stock-based compensation charges	2.3		2.3
Shares repurchased (in shares)		(1)
Shares repurchased	(261.7)					(261.7)
Capital contributions from affiliates	101.7		101.7
Distribution and net transfers to THC	440		440
Ending balance (in shares) at Sep. 30, 2015		29.6
Ending balance at Sep. 30, 2015	1,957.3	$ 0.3	3,069.5	(683.7)	(79.6)	(349.2)
Beginning balance (in shares) at Dec. 31, 2015		28.2
Beginning balance at Dec. 31, 2015	2,302	$ 0.3	3,734.6	(605.5)	(135.4)	(692)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(6.5)			(6.5)
Other comprehensive income	19.3				19.3
Net settlement on vesting of equity awards	(0.5)		(0.5)
Stock-based compensation charges	3.8		3.8
Exercise of stock options (in shares)		0.1
Exercise of stock options and other	10		10
Distribution and net transfers to THC	(1,975.7)
Ending balance (in shares) at Sep. 30, 2016		28.3
Ending balance at Sep. 30, 2016	$ 352.4	$ 0.3	$ 1,772.2	$ (612)	$ (116.1)	$ (692)

CONDENSED CONSOLIDATED AND COM7

CONDENSED CONSOLIDATED AND COMBINED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net income (loss)	$ (6.5)	$ 33.1
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation of revenue earning equipment	255.1	257.6
Depreciation of property and equipment	29.1	30.3
Amortization of other intangible assets	3.8	27.8
Amortization of deferred financing costs	4.2	3.4
Stock-based compensation charges	3.8	2.3
Provision for receivables allowance	24.4	29.6
Deferred taxes	9	(0.5)
Loss (gain) on sale of revenue earning equipment	17.6	(14.2)
Gain on sale of property and equipment	(0.8)	(1.2)
Income from joint ventures	(2.1)	(3)
Other	2	2
Changes in assets and liabilities:
Receivables	(40.4)	(20.8)
Inventories, prepaid expenses and other assets	(11.4)	(16)
Accounts payable	25.1	5.9
Accrued liabilities and other long-term liabilities	56.3	6.7
Taxes receivable and payable	1.7	34
Net cash provided by operating activities	370.9	377
Cash flows from investing activities:
Net change in restricted cash and cash equivalents	11.3	6.6
Revenue earning equipment expenditures	(325.7)	(537.8)
Proceeds from disposal of revenue earning equipment	99	126.8
Property and equipment expenditures	(29.2)	(67.1)
Proceeds from disposal of property and equipment	4.1	7.9
Other investing activities	0	(0.4)
Net cash used in investing activities	(240.5)	(464)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	1,235	0
Proceeds from revolving line of credit	1,646	1,455.6
Repayments on revolving line of credit	(794)	(1,546.4)
Principal payments under capital lease obligations	(8.7)	(6.6)
Proceeds from exercise of stock options and other	10	0
Net settlement on vesting of equity awards	(0.5)	(4.5)
Purchase of treasury stock	0	(261.7)
Capital contributions from affiliates	0	101.7
Distribution and net transfers to THC	(2,073.5)	440
Net financing activities with affiliates	(67.4)	(103.4)
Payment of debt issuance costs	(41.5)	0
Net cash provided by (used in) financing activities	(94.6)	74.7
Effect of foreign exchange rate changes on cash and cash equivalents	0.4	(3)
Net increase (decrease) in cash and cash equivalents during the period	36.2	(15.3)
Cash and cash equivalents at beginning of period	15.7	18.9
Cash and cash equivalents at end of period	51.9	3.6
Supplemental disclosures of cash flow information:
Cash paid for interest, net of amounts capitalized	15.2	24.6
Cash paid for income taxes, net of refunds	1.1	6.9
Supplemental disclosure of non-cash investing activity:
Purchases of revenue earning equipment in accounts payable	119.1	1.2
Purchases of property and equipment in accounts payable	8.8	0
Supplemental disclosure of non-cash financing activity:
Non-cash settlement of transactions with THC through equity	97.9	0
Supplemental disclosure of non-cash investing and financing activity:
Equipment acquired through capital lease	$ 20.3	$ 0

Background

Background	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background	Background Herc Holdings Inc. ("we", "us", "our", "Herc Holdings" or "the Company," or as the context requires, "its") is among the largest equipment rental companies in North America. It conducts substantially all of its operations through subsidiaries, including Herc Rentals Inc. ("Herc"). Operations are conducted under the Herc Rentals brand in the United States and under the Hertz Equipment Rental brand in Canada, China, the United Kingdom and through joint ventures in Saudi Arabia and Qatar. At September 30, 2016 , the Company had approximately 270 company-operated locations, as well as approximately 15 franchisee owned locations. The Company has been in the equipment rental business since 1965 and is a full-line equipment rental supplier in key markets, including commercial and residential construction, industrial and manufacturing, civil infrastructure, automotive, government and municipalities, energy, remediation, emergency response, facilities, entertainment and agriculture, as well as refineries and petrochemicals. The equipment rental business is supported by ProSolutions TM , the Company's industry specific solutions-based services, and its professional grade tools, commercial vehicles, and pump, power and climate control product offerings. On June 30, 2016 , the Company, under its former Hertz Global Holdings, Inc. name (in its form prior to the Spin-Off, "Hertz Holdings"), completed a spin-off (the “Spin-Off”) of its global vehicle rental business through a dividend to stockholders of all of the issued and outstanding common stock of Hertz Rental Car Holding Company, Inc., which was re-named Hertz Global Holdings, Inc. (“New Hertz”) in connection with the Spin-Off. New Hertz is now an independent public company and trades on the New York Stock Exchange under the symbol “HTZ.” The Company changed its name to Herc Holdings Inc. on June 30, 2016 and trades on the New York Stock Exchange under the symbol “HRI.” Following the Spin-Off, the Company continues to operate its global equipment rental business through its operating subsidiaries, including Herc Rentals Inc. (“Herc”). New Hertz continues to operate its global vehicle rental business through its operating subsidiaries including The Hertz Corporation ("THC"). For accounting purposes, due to the relative significance of New Hertz to Hertz Holdings, New Hertz was considered the spinnor or divesting entity and Herc Holdings was considered the spinnee or divested entity. As a result, despite the legal form of the transaction, New Hertz was the “accounting successor” to Hertz Holdings. Under the accounting rules, the historical financial information of New Hertz is required to reflect the financial information of Hertz Holdings, as if New Hertz spun off Herc Holdings in the Spin-Off. In contrast, the historical financial information of Herc Holdings, including certain information presented in these condensed consolidated and combined financial statements, reflects the financial information of the equipment rental business and certain parent legal entities of Herc as historically operated as part of Hertz Holdings, as if Herc Holdings was a stand-alone company for all periods presented. The historical financial information of Herc Holdings presented in these condensed consolidated and combined financial statements is not necessarily indicative of what Herc Holdings’ financial position or results of operations actually would have been had Herc Holdings operated as a separate, independent company for the periods presented.

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Pronouncements	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Recently Issued Accounting Pronouncements	Basis of Presentation and Recently Issued Accounting Pronouncements Basis of Presentation The Company prepares its condensed consolidated and combined financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”). In the opinion of management, the condensed consolidated and combined financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes. Actual results could differ materially from those estimates. Significant estimates inherent in the preparation of the condensed consolidated and combined financial statements include depreciation of revenue earning equipment, reserves for litigation and other contingencies, accounting for income taxes, pension and postretirement benefits, the recoverability of long-lived assets, useful lives and impairment of long-lived tangible and intangible assets including goodwill and trade name, valuation of stock-based compensation, reserves for restructuring, allowances for receivables and, prior to the Spin-Off, allocated general corporate expenses from THC, among others. The Quarterly Report on Form 10-Q for the quarter ended June 30, 2016 was the Company's first periodic report made post-Spin-Off as a stand-alone public company comprised of only the equipment rental business. The condensed consolidated and combined financial statements were presented on a basis of accounting that reflected a change in reporting entity and were adjusted for the effects of the Spin-Off. The condensed consolidated and combined financial statements and selected financial information represent only those operations, assets, liabilities and equity that form Herc Holdings on a stand-alone basis. Since the Spin-Off occurred on June 30, 2016, the financial statements in this Quarterly Report on Form 10-Q for the quarter ended September 30, 2016 (this "Report") represent the carve-out financial results for the first six months of 2016, including the Spin-Off impacts, and actual results for the three months ended September 30, 2016 . All prior period amounts represent carve-out financial results. Principles of Consolidation The condensed consolidated and combined financial statements include the accounts of Herc Holdings and its wholly owned domestic and international subsidiaries. In the event that the Company is a primary beneficiary of a variable interest entity, the assets, liabilities, and results of operations of the variable interest entity are included in the Company's condensed consolidated and combined financial statements. The Company accounts for its investments in joint ventures using the equity method when it has significant influence but not control and is not the primary beneficiary. All significant intercompany transactions have been eliminated in consolidation. Transactions between the Company and THC and its affiliates prior to the Spin-Off are herein referred to as “related party” or “affiliated” transactions for the periods presented. Effective with the Spin-Off on June 30, 2016, all transactions with THC and its affiliates were settled and paid in full. Effective upon the Spin-Off, the Company entered into a Transition Services Agreement ("TSA") with New Hertz. See Note 15 , " Arrangements with New Hertz " for further information. For periods prior to the Spin-Off, the condensed consolidated and combined financial statements include net interest expense on loans receivable and payable to affiliates and expense allocations for certain corporate functions historically performed by THC, including, but not limited to, general corporate expenses related to finance, legal, information technology, human resources, communications, employee benefits and incentives, insurance and stock-based compensation. These expenses were allocated to the Company on the basis of direct usage when identifiable, with the remainder allocated on the basis of revenues, operating expenses, headcount or other relevant measures. Management believes the assumptions underlying the condensed consolidated and combined financial statements, including the assumptions regarding the allocation of corporate expenses from THC, are reasonable. Nevertheless, the condensed consolidated and combined financial statements may not include all of the expenses that would have been incurred had the Company been a stand-alone company during the periods presented and may not reflect the Company's condensed consolidated and combined financial position, results of operations and cash flows had the Company been a stand-alone company during the periods presented. Actual costs that would have been incurred if the Company had been a stand-alone company would have depended on multiple factors, including organizational structure and strategic decisions made in various areas, including information technology and infrastructure. For additional information related to costs allocated to the Company by THC, see Note 14 , " Related Party Transactions ." Stock Split On June 30, 2016, the Company effected a 1-for-15 reverse stock split. The reverse stock split reduced the number of authorized shares of common stock and preferred stock to 133.3 million and 13.3 million , respectively. All share data and per share amounts have been retroactively adjusted for the reverse stock split in the accompanying condensed consolidated and combined financial statements and notes thereto for all periods presented. The retroactive adjustments resulted in the reclassification of $4.3 million from common stock to additional paid-in capital on the condensed consolidated and combined statements of changes in equity at September 30, 2015 . Reclassification of Prior Period Presentation Certain prior period amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported condensed consolidated and combined balance sheets, results of operations, equity or cash flows for any period presented. Correction of Errors During the Spin-Off and distribution process, the Company determined that certain historical balances that were attributed to Herc entities should have been attributed to THC. These classification errors were primarily caused by the historical mapping of certain entities to the Herc segment for Hertz Holdings and THC financial reporting purposes. As a result, certain historical balances related to Hertz Holdings and THC were inadvertently included in the historical carve-out financial statements of the Company. The Company assessed the materiality of these errors, both quantitatively and qualitatively, and concluded that the adjustments are not material to any prior annual or interim financial statements. The Company has revised its previously reported condensed consolidated and combined balance sheet, statements of other comprehensive income (loss), statements of changes in equity and statement of cash flows in this Report to correct these errors. The Company will also correct its previously reported financial statements in its future quarterly and annual filings. There was no impact of these errors to the condensed consolidated and combined statements of operations for any period. The table below reflects the impact of the revisions to amounts included in this Report that were previously reported by the Company and also reflects the retroactive impact of the June 30, 2016 stock split, as described above under the heading " Stock Split " (in millions). Nine Months Ended September 30, 2015 As Previously Reported Adjustments As Revised Condensed Consolidated and Combined Statements of Other Comprehensive Income (Loss) Total other comprehensive income (loss) $ (70.9 ) $ 23.6 $ (47.3 ) Total comprehensive income (loss) (37.8 ) 23.6 (14.2 ) September 30, 2015 As Previously Reported Adjustments Impact of Stock Split As Revised Condensed Consolidated and Combined Statements of Changes in Equity Additional paid-in capital $ 3,182.1 $ (116.9 ) $ 4.3 $ 3,069.5 Accumulated other comprehensive loss (173.3 ) 93.7 — (79.6 ) Nine Months Ended September 30, 2015 As Previously Reported Adjustments As Revised Condensed Consolidated and Combined Statements of Cash Flows Net cash provided by operating activities $ 378.5 $ (1.5 ) $ 377.0 Net cash provided by financing activities 86.3 (11.6 ) 74.7 Cash and cash equivalents at end of period 16.7 (13.1 ) 3.6 The Company has revised its condensed consolidated and combined statement of operations for the nine months ended September 30, 2015 to correct the recording of $6.2 million of expense from selling, general and administrative expense into direct operating expense which did not impact net income. The correction resulted from incorrect mapping of certain expense accounts to the financial statement line items. Recent Accounting Pronouncements Adopted Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could be Achieved After the Requisite Service Period In June 2014, the Financial Accounting Standards Board ("FASB") issued guidance requiring that a performance target in a share-based payment award that affects vesting and that can be achieved after the requisite service period is completed is to be accounted for as a performance condition; therefore, compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved, and the amount of compensation cost recognized should be based on the portion of the service period fulfilled. The Company adopted this guidance prospectively on January 1, 2016 in accordance with the effective date. Adoption of this new guidance did not impact the Company’s financial position, results of operations or cash flows. Amendments to the Consolidation Analysis In February 2015, the FASB issued guidance that changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The Company adopted this guidance retrospectively on January 1, 2016 in accordance with the effective date. Adoption of this new guidance did not impact the Company’s financial position, results of operations or cash flows. Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued guidance requiring debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. In August 2015, the FASB issued guidance clarifying that debt issuance costs related to line-of-credit and other revolving debt arrangements may be deferred and presented as an asset. The Company adopted this guidance retrospectively on January 1, 2016 in accordance with the effective date. The adoption of this new guidance did not impact the Company's financial position, results of operations or cash flows for any periods prior to 2016 . Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In April 2015, the FASB issued guidance for customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The Company adopted this guidance prospectively on January 1, 2016 in accordance with the effective date. Adoption of this new guidance did not impact the Company’s financial position, results of operations or cash flows. Not Yet Adopted Revenue from Contracts with Customers In May 2014, the FASB issued guidance that will replace most existing revenue recognition guidance in U.S. GAAP. The new guidance applies to all contracts with customers except for leases, insurance contracts, financial instruments, certain nonmonetary exchanges and certain guarantees. The core principle of the guidance is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The new principles-based revenue recognition model requires an entity to perform five steps in its analysis: 1) identify the contract(s) with a customer, 2) identify the performance obligations in the contract, 3) determine the transaction price, 4) allocate the transaction price to the performance obligations in the contract, and 5) recognize revenue when (or as) the entity satisfies a performance obligation. Under the new guidance, performance obligations in a contract will be separately identified, which may impact the timing of recognition of the revenue allocated to each obligation. The measurement of revenue recognized may also be impacted by identification of new performance obligations and other matters, such as collectability and variable consideration. Also, additional disclosures are required about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. The new guidance may be adopted on either a full or modified retrospective basis. As originally issued, the guidance was effective for annual reporting periods beginning after December 15, 2016, including interim periods within those reporting periods. However in July 2015, the FASB agreed to defer the effective date until annual and interim reporting periods beginning after December 15, 2017. In March 2016, the FASB issued clarifying guidance on assessing whether an entity is a principal or an agent in a revenue transaction, which impacts whether an entity reports revenue on a gross or net basis. In April 2016, the FASB issued guidance that reduces the complexity for identifying performance obligations and clarifies the implementation guidance on licensing for intellectual property. In May 2016, the FASB issued guidance that clarifies the collectability criterion, the presentation of sales taxes, and non-cash consideration, and provides additional implementation practical expedients. The Company is in the process of determining the method and timing of adoption and assessing the overall impacts of adopting this guidance on its financial position, results of operations and cash flows. Simplifying the Subsequent Measurement of Inventory In July 2015, the FASB issued guidance that requires inventory to be measured at the lower of cost and net realizable value (rather than cost or market), excluding inventory measured using the last-in, first-out method or the retail inventory method. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This guidance is effective prospectively for annual periods beginning after December 15, 2016 and interim periods within those annual periods. The Company has assessed the potential impacts from future adoption of this guidance and has determined that there will be no impact on its financial position, results of operations and cash flows. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued guidance that makes several changes to the manner in which financial assets and liabilities are accounted for, including, among other things, a requirement to measure most equity investments at fair value with changes in fair value recognized in net income (with the exception of investments that are consolidated or accounted for using the equity method or a fair value practicability exception), and amends certain disclosure requirements related to fair value measurements and financial assets and liabilities. This guidance is effective for annual periods beginning after December 15, 2017 and interim periods within those annual periods using a modified retrospective transition method for most of the requirements. The Company is in the process of assessing the potential impacts of adopting this guidance on its financial position, results of operations and cash flows. Leases In February 2016, the FASB issued guidance that replaces the existing lease guidance. The new guidance establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This guidance also expands the requirements for lessees to record leases embedded in other arrangements and the required quantitative and qualitative disclosures surrounding leases. Accounting guidance for lessors is largely unchanged. This guidance is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods using a modified retrospective transition approach. The Company is in the process of assessing the potential impacts of adopting this guidance on its financial position, results of operations and cash flows. Simplifying the Transition to the Equity Method of Accounting In March 2016, the FASB issued guidance that eliminates the requirement to apply the equity method of accounting retrospectively when significant influence over a previously held investment is obtained. Rather, the guidance requires the investor to add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method of accounting. This guidance is effective prospectively for annual periods beginning after December 15, 2016 and interim periods within those annual periods. The Company has assessed the potential impacts from future adoption of this guidance and has determined that there will be no impact on its financial position, results of operations and cash flows. Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued guidance that simplifies several areas of employee share-based payment accounting, including income taxes, forfeitures, minimum statutory withholding requirements, and classifications within the statement of cash flows. Most significantly, the new guidance eliminates the need to track tax “windfalls” in a separate pool within additional paid-in capital; instead, excess tax benefits and tax deficiencies will be recorded within income tax expense. The new guidance also gives entities the ability to elect whether to estimate forfeitures or account for them as they occur. Different adoption methods are required for the various aspects of the new guidance, including the retrospective, modified retrospective and prospective approaches, effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. The Company is in the process of assessing the impacts of adopting this guidance on its financial position, results of operations and cash flows. Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued guidance to eliminate the diversity in practice related to the classification of certain cash receipts and payments in the statement of cash flows, by adding or clarifying guidance on eight specific cash flow issues. This guidance is effective for annual and interim reporting periods beginning after December 15, 2017, with early adoption permitted. The Company is currently evaluating the new guidance and has not determined the impact adopting this guidance may have on its statement of cash flows.

Revenue Earning Equipment

Revenue Earning Equipment	9 Months Ended
	Sep. 30, 2016
Property Subject to or Available for Operating Lease, Net [Abstract]
Revenue Earning Equipment	Revenue Earning Equipment Revenue earning equipment consists of the following (in millions): September 30, 2016 December 31, 2015 Revenue earning equipment $ 3,760.1 $ 3,526.2 Less: Accumulated depreciation (1,273.0 ) (1,143.7 ) Revenue earning equipment, net $ 2,487.1 $ 2,382.5

Debt

Debt	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt	Debt The Company's debt consists of the following (in millions): Weighted Average Interest Rate at September 30, 2016 Fixed or Floating Interest Rate Maturity September 30, December 31, Senior Secured Second Priority Notes 2022 Notes 7.50% Fixed 2022 $ 610.0 $ — 2024 Notes 7.75% Fixed 2024 625.0 — Other Debt ABL Credit Facility 2.49% Floating 2021 852.0 — Capital leases 3.98% Fixed 2016-2021 74.4 63.5 Predecessor ABL Facility N/A Floating N/A — — Unamortized Debt Issuance Costs (a) (21.5 ) — Total debt 2,139.9 63.5 Less: Current maturities of long-term debt (15.5 ) (10.2 ) Long-term debt $ 2,124.4 $ 53.3 (a) Unamortized debt issuance costs totaling $18.0 million related to the ABL Credit Facility (as defined below) are included in "Other long-term assets" in the condensed consolidated and combined balance sheet as of September 30, 2016 . Senior Secured Second Priority Notes In June 2016 , Herc issued $610.0 million aggregate principal amount of 7.50% senior secured second priority notes due 2022 (the "2022 Notes") and $625.0 million aggregate principal amount of 7.75% senior secured second priority notes due 2024 (the "2024 Notes" and, together with the 2022 Notes, the "Notes"). Interest on the 2022 Notes accrues at the rate of 7.50% per annum and is payable semi-annually in arrears on June 1 and December 1 , commencing on December 1, 2016 . The 2022 Notes mature on June 1, 2022 . Interest on the 2024 Notes accrues at the rate of 7.75% per annum and is payable semi-annually in arrears on June 1 and December 1 , commencing on December 1, 2016 . The 2024 Notes mature on June 1, 2024 . ABL Credit Facility In connection with the Spin-Off on June 30, 2016 , the Company, through its Herc subsidiary, entered into a new asset-based revolving credit agreement that provides for senior secured revolving loans up to a maximum aggregate principal amount of $1,750 million (subject to availability under a borrowing base), including revolving loans in an aggregate principal amount of $350 million available to Canadian borrowers and U.S. borrowers (the "ABL Credit Facility"). Up to $250 million of the revolving loan facility is available for the issuance of letters of credit, subject to certain conditions including issuing lender participation. Extensions of credit under the ABL Credit Facility are limited by a borrowing base calculated periodically based on specified percentages of the value of eligible rental equipment, eligible service vehicles, eligible spare parts and merchandise, eligible accounts receivable, and eligible unbilled accounts subject to certain reserves and other adjustments. Subject to the satisfaction of certain conditions and limitations, the ABL Credit Facility allows for the addition of incremental revolving and/or term loan commitments. In addition, the ABL Credit Facility permits Herc to increase the amount of commitments under the ABL Credit Facility with the consent of each lender providing an additional commitment, subject to satisfaction of certain conditions. The ABL Credit Facility matures on June 30, 2021 . The interest rates applicable to the loans under the ABL Credit Facility are based on a fluctuating rate of interest measured by reference to either, at the borrowers’ option, (i) an adjusted London inter-bank offered rate, plus a borrowing margin or (ii) an alternate base rate, plus a borrowing margin (or, in the case of the Canadian borrowers, a rate equal to the rate on bankers’ acceptances with the same maturity, plus a borrowing margin). The borrowing margin on the ABL Credit Facility is determined based on a pricing grid that is bifurcated based on corporate credit ratings, with levels within the grid based on available commitments. Customary fees are also payable in respect of the ABL Credit Facility, including a commitment fee on the unutilized portion thereof. Predecessor ABL Facility In March 2011 , Herc and THC, as co-borrowers, and certain of their subsidiaries entered into a credit agreement on a revolving basis under an asset-based revolving credit facility (the "Predecessor ABL Facility"). Concurrent with the Spin-Off on June 30, 2016 , the Predecessor ABL Facility was terminated. All amounts, including unpaid interest, were paid in full at the time of termination. Covenants Notes The indenture governing the Notes contains covenants that, among other things, limit the ability of Herc to incur additional indebtedness, guarantee indebtedness or issue certain preferred shares; pay dividends on, redeem or repurchase stock or make other distributions in respect of its capital stock; repurchase, prepay or redeem subordinated indebtedness; make loans and investments; create liens; transfer or sell assets; consolidate, merge or sell or otherwise dispose of all or substantially all of its assets; enter into certain transactions with affiliates; and designate subsidiaries as unrestricted subsidiaries. ABL Credit Facility The ABL Credit Facility contains a number of negative covenants that, among other things, limit or restrict the ability of the borrowers and, in certain cases, their restricted subsidiaries to dispose of assets, incur additional indebtedness, incur guarantee obligations, prepay certain indebtedness, make certain dividends, create liens, make investments, make acquisitions, engage in mergers, change the nature of their business, engage in certain transactions with affiliates and enter into certain restrictive agreements. Failure to maintain certain levels of liquidity will subject the Herc credit group to a contractually specified fixed charge coverage ratio of not less than 1 :1 for the four quarters most recently ended. As of September 30, 2016 , the Company was not subject to the fixed charge coverage ratio test. Covenants in the ABL Credit Facility restrict payment of cash dividends to any parent of Herc, including Herc Holdings, except in an aggregate amount, taken together with certain investments, acquisitions and optional prepayments, not to exceed $200 million . Herc may also pay additional cash dividends under the ABL Credit Facility under certain circumstances. The ABL Credit Facility also contains certain affirmative covenants, including financial and other reporting requirements. Borrowing Capacity and Availability After outstanding borrowings, the following was available to the Company under the ABL Credit Facility as of September 30, 2016 (in millions): Remaining Capacity Availability Under Borrowing Base Limitation ABL Credit Facility $ 875.1 $ 875.1 As of September 30, 2016 , the ABL Credit Facility had $227.1 million available under the letter of credit facility sublimit, subject to borrowing base restrictions. Letters of Credit As of September 30, 2016 , $22.9 million of standby letters of credit were issued and outstanding under the ABL Credit Facility, none of which have been drawn upon.

Employee Retirement Benefits

Employee Retirement Benefits	9 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Employee Retirement Benefits	Employee Retirement Benefits In July 2016, the Company established the Herc Holdings Retirement Plan (the "Plan"). All assets and liabilities of The Hertz Corporation Account Balance Defined Benefit Pension Plan attributable to current and former employees of the equipment rental business were transferred to the Plan following the Spin-Off based on a preliminary allocation that is expected to be finalized before the end of the first quarter 2017. Additionally, pursuant to various collective bargaining agreements, certain union-represented employees participate in multiemployer pension plans. The following table sets forth the net periodic pension expense (in millions): Net Periodic Pension Costs (Benefits) Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Components of Net Periodic Pension Benefit: Service cost $ — $ 0.1 $ — $ 0.1 Interest cost 1.3 1.4 4.4 4.2 Expected return on plan assets (1.9 ) (2.2 ) (5.9 ) (6.6 ) Net amortizations 0.5 0.1 1.4 0.3 Settlement loss — — — 0.2 Net periodic pension benefit $ (0.1 ) $ (0.6 ) $ (0.1 ) $ (1.8 )

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation During the three months ended September 30, 2016, under the Herc Holdings Inc. 2008 Omnibus Incentive Plan (the "Omnibus Plan"), the Company granted 425,322 non-qualified stock options to certain employees at a weighted average grant date fair value of $14.25 as determined using the Black-Scholes option-pricing model. There were also 206,675 restricted stock units granted at a weighted average grant date fair value of $ 33.19 to certain directors and employees. The stock options vest 25% per year over four years and the restricted stock units vest 100% at the end of three years. A summary of the total compensation expense and associated income tax benefits recognized under the plan are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Compensation expense $ 1.1 $ 1.4 $ 3.8 $ 2.3 Income tax benefit (0.4 ) (0.5 ) (1.5 ) (0.9 ) Total $ 0.7 $ 0.9 $ 2.3 $ 1.4 Stock-based compensation expense includes expense attributable to the Company based on the terms of the awards previously granted under the Omnibus Plan to the Company's employees. Additionally, until the Spin-Off on June 30, 2016, stock-based compensation expense included an allocation of THC's corporate and shared functional employee expenses. The allocated stock-based compensation expenses from THC were $2.0 million for the nine months ended September 30, 2016 , and $1.3 million and $1.6 million for the three and nine months ended September 30, 2015 , respectively, on a pre-tax basis. There was no allocation during the three months ended September 30, 2016 . Accordingly, the amounts presented prior to the Spin-Off are not necessarily indicative of future awards and do not necessarily reflect the results that the Company would have experienced as an independent, publicly-traded company for the periods presented. As of September 30, 2016 , there was $19.5 million of total unrecognized compensation cost related to non-vested stock options, restricted stock units ("RSUs") and performance stock units ("PSUs") granted under the Omnibus Plan. The total unrecognized compensation cost is expected to be recognized over the remaining 2.4 years, on a weighted average basis, of the requisite service period that began on the grant dates.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The effective tax rate for the three months ended September 30, 2016 and 2015 was 55.2% and 41.4% , respectively. The effective tax rate for the nine months ended September 30, 2016 and 2015 was 360.0% and 46.4% , respectively. The effective tax rate for the full fiscal year 2016 is expected to be approximately 118.0% . The effective tax rates for the nine months ended September 30, 2016 and the expected full fiscal year 2016 rate are primarily driven by lower operating income and $6.4 million of tax expense related to state taxes incurred as a result of the Spin-Off. In connection with the Spin-Off, net operating loss carryforwards have been split between the Company and New Hertz pursuant to the Internal Revenue Code and regulations. While not expected to be significant, the split of net operating loss carryforwards may be further adjusted as income tax returns are finalized through 2017. As of September 30, 2016 , the Company has $183.7 million of gross federal net operating loss carryforwards to offset future taxable income. The federal net operating loss carryforward has been reduced by uncertain tax positions of $0.4 million .

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The changes in the accumulated other comprehensive income (loss) balance by component (net of tax) for the nine months ended September 30, 2016 and 2015 are presented in the tables below (in millions). Pension and Other Post-Employment Benefits Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2015 $ (15.5 ) $ (119.9 ) $ (135.4 ) Other comprehensive income (loss) before reclassification (4.9 ) 23.3 18.4 Amounts reclassified from accumulated other comprehensive loss 0.9 — 0.9 Net current period other comprehensive income (loss) (4.0 ) 23.3 19.3 Balance at September 30, 2016 $ (19.5 ) $ (96.6 ) $ (116.1 ) Pension and Other Post-Employment Benefits Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2014 $ (10.8 ) $ (21.5 ) $ (32.3 ) Other comprehensive income (loss) before reclassification 0.1 (47.7 ) (47.6 ) Amounts reclassified from accumulated other comprehensive loss 0.3 — 0.3 Net current period other comprehensive income (loss) 0.4 (47.7 ) (47.3 ) Balance at September 30, 2015 $ (10.4 ) $ (69.2 ) $ (79.6 ) Amounts reclassified from accumulated other comprehensive income (loss) to net income (loss) were as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, Pension and other postretirement benefit plans 2016 2015 2016 2015 Statement of Operations Caption Amortization of actuarial losses (a) $ 0.5 $ 0.1 $ 1.4 $ 0.3 Selling, general and administrative Settlement loss (a) — — — 0.2 Selling, general and administrative Total 0.5 0.1 1.4 0.5 Tax benefit (0.2 ) — (0.5 ) (0.2 ) Income tax expense Total reclassifications for the period $ 0.3 $ 0.1 $ 0.9 $ 0.3 (a) Included in the computation of net periodic pension costs (benefits). See Note 5 , " Employee Retirement Benefits ."

Contingencies and Off-Balance S

Contingencies and Off-Balance Sheet Commitments	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Off-Balance Sheet Commitments	Contingencies and Off-Balance Sheet Commitments Legal Proceedings From time to time the Company is a party to various legal proceedings. Summarized below are the most significant legal proceedings to which the Company is a party. In re Hertz Global Holdings, Inc. Securities Litigation - In November 2013, a purported shareholder class action, Pedro Ramirez, Jr. v. Hertz Global Holdings, Inc., et al., was commenced in the U.S. District Court for the District of New Jersey naming the Company (under its former Hertz Global Holdings, Inc. name) and certain of its officers as defendants and alleging violations of the federal securities laws. The complaint alleged that the Company made material misrepresentations and/or omissions of material fact in its public disclosures during the period from February 25, 2013 through November 4, 2013, in violation of Section 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and Rule 10b-5 promulgated thereunder. The complaint sought an unspecified amount of monetary damages on behalf of the purported class and an award of costs and expenses, including counsel fees and expert fees. In June 2014, the Company responded to the amended complaint by filing a motion to dismiss. After a hearing in October 2014, the court granted the Company’s motion to dismiss the complaint. The dismissal was without prejudice and plaintiff was granted leave to file a second amended complaint within 30 days of the order. In November 2014, plaintiff filed a second amended complaint which shortened the putative class period such that it was not alleged to have commenced until May 18, 2013 and made allegations that were not substantively very different than the allegations in the prior complaint. In early 2015, this case was assigned to a new federal judge in the District of New Jersey, and the Company responded to the second amended complaint by filing another motion to dismiss. On July 22, 2015, the court granted the Company’s motion to dismiss without prejudice and ordered that plaintiff could file a third amended complaint on or before August 22, 2015. On August 21, 2015, plaintiff filed a third amended complaint. The third amended complaint included additional allegations, named additional current and former officers as defendants and expanded the putative class period such that it was alleged to span from February 14, 2013 to July 16, 2015. On November 4, 2015, the Company filed its motion to dismiss. Thereafter, a motion was made by plaintiff to add a new plaintiff, because of challenges to the standing of the first plaintiff. The court granted plaintiffs leave to file a fourth amended complaint to add the new plaintiff, and the new complaint was filed on March 1, 2016. The Company and the individual defendants moved to dismiss the fourth amended complaint in its entirety with prejudice on March 24, 2016, and plaintiff filed its opposition to same on May 6, 2016. On June 13, 2016, the Company and the individual defendants filed their reply briefs in support of their motions to dismiss. The matter is now fully briefed. The Company believes that it has valid and meritorious defenses and New Hertz, which is responsible for managing this matter, has informed the Company that it intends to vigorously defend against the complaint, but litigation is subject to many uncertainties and the outcome of this matter is not predictable with assurance. It is possible that this matter could be decided unfavorably to the Company. However, the Company is currently unable to estimate the range of these possible losses, but they could be material to the Company's consolidated and combined financial condition, results of operations or cash flows in any particular reporting period. Governmental Investigations - In June 2014, the Company (in its previous form as the holding company of both the existing equipment rental operations as well as the rental car operations that have since been spun off into a separate company) was advised by the staff of the New York Regional Office of the Securities and Exchange Commission ("SEC") that it is investigating the events disclosed in certain of the Company’s filings with the SEC (under its former Hertz Global Holdings, Inc. name). In addition, in December 2014 a state securities regulator requested information, and starting in June 2016 the Company has had communications with the United States Attorney’s Office for the District of New Jersey, in each case regarding the same or similar events. The investigations and communications generally involve the restatements included in the Company’s 2014 Form 10-K and related accounting for prior periods. The Company has and intends to continue to cooperate with all governmental requests related to the foregoing. Due to the stage of the proceedings, the Company is currently unable to predict the likely outcome of the proceedings or estimate the range of reasonably possible losses, which could be material. Among other matters, the restatements included in the Company’s 2014 Form 10-K addressed a variety of accounting matters involving THC's former Brazil vehicle rental operations. The Company has identified certain activities by THC's former vehicle rental operations in Brazil that may raise issues under the Foreign Corrupt Practices Act and other federal and local laws. THC has self-reported these issues to appropriate government entities, and these issues continue to be investigated. At this time, the Company is unable to predict the outcome of these issues or estimate the range of reasonably possible losses, which could be material. In addition, the Company is subject to a number of claims and proceedings that generally arise in the ordinary conduct of its business. These matters include, but are not limited to, claims arising from the operation of rented equipment and workers' compensation claims. The Company does not believe that the liabilities arising from such ordinary course claims and proceedings will have a material adverse effect on the Company's consolidated and combined financial position, results of operations or cash flows. The Company has established reserves for matters where the Company believes the losses are probable and can be reasonably estimated. For matters, including certain of those described above, where a reserve has not been established, the ultimate outcome or resolution cannot be predicted at this time, or the amount of ultimate loss, if any, cannot be reasonably estimated. Litigation is subject to many uncertainties and there can be no assurance as to the outcome of the individual litigated matters. It is possible that certain of the actions, claims, inquiries or proceedings, including those discussed above, could be decided unfavorably to the Company or any of its subsidiaries involved. Accordingly, it is possible that an adverse outcome from such a proceeding could exceed the amount accrued in an amount that could be material to the Company's consolidated and combined financial condition, results of operations or cash flows in any particular reporting period. Off-Balance Sheet Commitments Indemnification Obligations In the ordinary course of business, the Company executes contracts involving indemnification obligations customary in the relevant industry and indemnifications specific to a transaction such as the sale of a business. These indemnification obligations might include claims relating to the following: environmental matters; intellectual property rights; governmental regulations and employment-related matters; customer, supplier and other commercial contractual relationships; and financial matters. Performance under these indemnification obligations would generally be triggered by a breach of terms of the contract or by a third party claim. The Company regularly evaluates the probability of having to incur costs associated with these indemnification obligations and has accrued for expected losses that are probable and estimable. The types of indemnification obligations for which payments are possible include the following: The Spin-Off In connection with the Spin-Off, pursuant to the separation and distribution agreement (as discussed in Note 15 , " Arrangements with New Hertz "), the Company has assumed the liability for, and control of, all pending and threatened legal matters related to its equipment rental business and related assets, as well as assumed or retained liabilities, and will indemnify New Hertz for any liability arising out of or resulting from such assumed legal matters. The separation and distribution agreement also provides for certain liabilities to be shared by the parties. The Company is responsible for a portion of these shared liabilities (typically 15% ) , as set forth in that agreement. New Hertz is responsible for managing the settlement or other disposition of such shared liabilities. Pursuant to the tax matters agreement, the Company has agreed to indemnify New Hertz for any resulting taxes and related losses if the Company takes or fails to take any action (or permits any of its affiliates to take or fail to take any action) that causes the Spin-Off and related transactions to be taxable, or if there is an acquisition of the equity securities or assets of the Company or of any member of the Company’s group that causes the Spin-Off and related transactions to be taxable. Environmental The Company has indemnified various parties for the costs associated with remediating numerous hazardous substance storage, recycling or disposal sites in many states and, in some instances, for natural resource damages. The amount of any such expenses or related natural resource damages for which the Company may be held responsible could be substantial. The probable expenses that the Company expects to incur for such matters have been accrued, and those expenses are reflected in the Company's condensed consolidated and combined financial statements. As of September 30, 2016 and December 31, 2015 , the aggregate amounts accrued for environmental liabilities including liability for environmental indemnities, reflected in the Company's condensed consolidated and combined balance sheets in "Accrued liabilities" were $0.2 million and $0.1 million , respectively. The accrual generally represents the estimated cost to study potential environmental issues at sites deemed to require investigation or clean-up activities, and the estimated cost to implement remediation actions, including on-going maintenance, as required. Cost estimates are developed by site. Initial cost estimates are based on historical experience at similar sites and are refined over time on the basis of in-depth studies of the sites. For many sites, the remediation costs and other damages for which the Company ultimately may be responsible cannot be reasonably estimated because of uncertainties with respect to factors such as the Company's connection to the site, the materials there, the involvement of other potentially responsible parties, the application of laws and other standards or regulations, site conditions, and the nature and scope of investigations, studies, and remediation to be undertaken (including the technologies to be required and the extent, duration, and success of remediation).

Restructuring

Restructuring	9 Months Ended
	Sep. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring As part of the Company's ongoing effort to reduce operating costs, the Company reduced headcount and closed certain branches in 2015 and 2016 in the U.S. and Canada resulting in severance costs as well as branch closure charges which principally relate to continuing lease obligations at vacant facilities. The Company incurred the following restructuring costs (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 By Type: Termination benefits $ 0.1 $ 2.0 $ 1.9 $ 2.2 Facility closure and lease obligation costs — 0.5 1.6 1.3 Total $ 0.1 $ 2.5 $ 3.5 $ 3.5 The following table sets forth the activity affecting the restructuring accrual during the nine months ended September 30, 2016 (in millions). The Company expects to pay the remaining restructuring obligations relating to termination benefits over the next twelve months. The remainder of the restructuring accrual relates to future lease obligations which will be paid over the remaining term of the applicable leases. Termination Other Total Balance as of December 31, 2015 $ 1.2 $ 1.3 $ 2.5 Charges incurred 1.9 1.6 3.5 Cash payments (2.9 ) (1.9 ) (4.8 ) Other non-cash charges (0.1 ) — (0.1 ) Balance as of September 30, 2016 $ 0.1 $ 1.0 $ 1.1 Arrangements with New Hertz In connection with the Spin-Off, the Company entered into a separation and distribution agreement (the “Separation Agreement”) with New Hertz. In connection therewith, the Company also entered into various other ancillary agreements with New Hertz to effect the Spin-Off and provide a framework for its relationship with New Hertz. The following summarizes some of the most significant agreements and relationships that Herc Holdings will continue to have with New Hertz. Separation and Distribution Agreement The Separation Agreement sets forth the Company's agreements with New Hertz regarding the principal actions to be taken in connection with the Spin-Off. It also sets forth other agreements that govern aspects of the Company's relationship with New Hertz following the Spin-Off regarding (i) the internal reorganization and related financing transactions that took place prior to the Spin-Off; (ii) the manner in which legal matters and claims are allocated and certain liabilities are shared between the Company and New Hertz; and (iii) other matters including transfers of assets and liabilities, treatment or termination of intercompany arrangements, releases of certain claims between the parties and their affiliates, successors and assigns, (iv) contains mutual indemnification clauses and (v) allocates Spin-Off expenses between the parties. Transition Services Agreement The Company entered into a transition services agreement (the “Transition Services Agreement”) pursuant to which New Hertz or its affiliates will provide specified services to the Company on a transitional basis to help ensure an orderly transition following the Spin-Off, although New Hertz may request certain transition services to be performed by the Company. The Transition Services Agreement generally provides for a term of up to two years following the Spin-Off, though the recipient of the services may elect to terminate a service at any time upon advance written notice. Tax Matters Agreement The Company entered into a tax matters agreement (the “Tax Matters Agreement”) with New Hertz that governs the parties' rights, responsibilities and obligations after the Spin-Off with respect to tax liabilities and benefits, tax attributes, tax contests and other tax matters regarding income taxes, other taxes and related tax returns. Employee Matters Agreement The Company and New Hertz entered into an employee matters agreement (the “Employee Matters Agreement”) to allocate liabilities and responsibilities relating to employment matters, employee compensation, benefit plans and programs and other related matters. The Employee Matters Agreement governs New Hertz and the Company's obligations with respect to such matters for current and former employees of the vehicle rental business and the equipment rental business. Intellectual Property Agreement The Company and New Hertz entered into an intellectual property agreement (the “Intellectual Property Agreement”) that provides for ownership, licensing and other arrangements regarding the trademarks and related intellectual property that New Hertz and the Company use in conducting their businesses. The Intellectual Property Agreement allocates ownership between New Hertz and the Company of all trademarks, domain names and certain copyrights that Hertz Holdings or its subsidiaries owned immediately prior to the distribution date. Real Estate Arrangements The Company and New Hertz entered into certain real estate lease agreements pursuant to which the Company will lease certain office and shared rental facilities space from New Hertz. Rent payments will generally be negotiated based on comparable fair market rental rates and adjusted each year of the lease to reflect increases or decreases in operating and maintenance expenses and other factors. New Hertz may generally terminate the leases in the event of a material uncured default by the Company.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Financial Instruments The Company established risk management policies and procedures, which seek to reduce the Company’s risk exposure to fluctuations in foreign currency exchange rates. However, there can be no assurance that these policies and procedures will be successful. Although the instruments utilized involve varying degrees of credit, market and interest risk, the counterparties to the agreements are expected to perform fully under the terms of the agreements. The Company monitors counterparty credit risk, including lenders, on a regular basis, but cannot be certain that all risks will be discerned or that its risk management policies and procedures will always be effective. Additionally, in the event of default under the Company’s master derivative agreements, the non-defaulting party has the option to set-off any amounts owed with regard to open derivative positions. Foreign Currency Exchange Rate Risk The Company’s objective in managing exposure to foreign currency fluctuations is to limit the exposure of certain cash flows and earnings to foreign currency exchange rate changes through the use of various derivative contracts. The Company experiences foreign currency risks in its global operations as a result of various factors, including intercompany local currency denominated loans, rental operations in various currencies and purchasing fleet in various currencies. The following table summarizes the estimated fair value of the Company's financial instruments, none of which have been designated in a hedging relationship (in millions). Fair Value of Financial Instruments Prepaid & Other Current Assets Accrued Liabilities September 30, 2016 December 31, September 30, 2016 December 31, Foreign currency forward contracts $ — $ 0.1 $ 1.2 $ — The following table summarizes the losses on derivative instruments for the periods indicated. All losses are recorded in "Selling, general and administrative" in the condensed consolidated and combined statements of operations (in millions). Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Foreign currency forward contracts $ (2.6 ) $ (0.2 ) $ (2.7 ) $ (6.5 )

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis The fair value of accounts receivable, accounts payable and accrued liabilities, to the extent the underlying liability will be settled in cash, approximates the carrying values because of the short-term nature of these instruments. Cash Equivalents and Investments At December 31, 2015 , the Company had cash equivalents of $13.5 million . The cash equivalents primarily consisted of money market accounts which were classified as Level 1 assets which the Company measured at fair value on a recurring basis. The Company determines the fair value of cash equivalents using a market approach based on quoted prices in active markets. The Company had no cash equivalents at September 30, 2016 . Financial Instruments The fair value of the Company's financial instruments as of September 30, 2016 and December 31, 2015 are shown in Note 11 , " Financial Instruments ." The Company's financial instruments are classified as Level 2 assets and liabilities and are priced using quoted market prices for similar assets or liabilities in active markets. Debt Obligations The fair value of debt is estimated based on quoted market rates as well as borrowing rates currently available to the Company for loans with similar terms and average maturities (Level 2 inputs) (in millions). September 30, 2016 December 31, 2015 Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Debt $ 2,161.4 $ 2,206.2 $ 63.5 $ 63.5

Earnings (Loss) Per Share

Earnings (Loss) Per Share	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share Basic earnings (loss) per share has been computed based upon the weighted average number of common shares outstanding. Diluted earnings (loss) per share has been computed based upon the weighted average number of common shares outstanding plus the effect of all potentially dilutive common stock equivalents, except when the effect would be anti-dilutive. On June 30, 2016 , the Company effected a 1-for-15 reverse stock split. All share data, per share amounts and dilutive and antidilutive amounts have been retroactively adjusted to reflect the impact of the separation and conversion, including the reverse stock split, in the accompanying condensed consolidated and combined financial statements and notes thereto for all periods presented. The following table sets forth the computation of basic and diluted earnings (loss) per share (in millions, except per share data). Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Basic and diluted earnings (loss) per share: Numerator: Net income (loss), basic and diluted $ 3.0 $ 20.8 $ (6.5 ) $ 33.1 Denominator: Basic weighted average common shares 28.3 30.3 28.3 30.5 Stock options, RSUs and PSUs (a) — — — — Weighted average shares used to calculate diluted earnings per share 28.3 30.3 28.3 30.5 Earnings (loss) per share: Basic $ 0.11 $ 0.69 $ (0.23 ) $ 1.09 Diluted $ 0.11 $ 0.69 $ (0.23 ) $ 1.09 Antidilutive stock options, RSUs and PSUs (a) 0.3 0.1 0.2 — (a) The dilutive impact of stock options, RSUs and PSUs for the three months ended September 30, 2016 and the three and nine months ended September 30, 2015 and antidilutive impact for the nine months ended September 30, 2015 round to zero for each period.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Transactions between the Company and THC and its affiliates prior to the Spin-Off are herein referred to as “related party” or “affiliated” transactions for the periods presented. Effective with the Spin-Off on June 30, 2016 , all transactions with THC and its affiliates were settled and paid in full. Effective upon the Spin-Off, the Company entered into a Transition Services Agreement ("TSA") with New Hertz. See Note 15 , " Arrangements with New Hertz " for further information. Corporate Allocations Prior to the Spin-Off, THC provided services to and funded certain expenses for the Company that were recorded at the THC level. As discussed in Note 2 , " Basis of Presentation and Recently Issued Accounting Pronouncements ," the financial information in these condensed consolidated and combined financial statements includes direct costs of the Company incurred by THC on the Company’s behalf and an allocation of general corporate expenses of THC which were not historically allocated to the Company for certain support functions that were provided on a centralized basis within THC and not recorded at the business unit level, such as expenses related to finance, human resources, information technology, facilities, and legal, among others, and that would have been incurred had the Company been a separate, stand-alone entity. Costs incurred and allocated by THC were included in the condensed consolidated and combined statements of operations as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Direct operating $ — $ (0.8 ) $ 0.6 $ (0.1 ) Selling, general and administrative — 9.0 18.0 27.4 Total allocated expenses $ — $ 8.2 $ 18.6 $ 27.3 Loans with Affiliates The Company entered into various loan agreements with affiliates as part of the centralized approach to cash management and financing of worldwide operations by THC. The amounts due to and from other affiliates had various interest rates and maturity dates but were generally short-term in nature. Effective with the Spin-Off on June 30, 2016 , any loans with affiliates were settled and paid in full, including any accrued interest. Agreements with Carl C. Icahn On September 15, 2014, Hertz Holdings entered into the Nomination and Standstill Agreement (the “Nomination and Standstill Agreement”) with Carl C. Icahn, High River Limited Partnership, Hopper Investments LLC, Barberry Corp., Icahn Partners LP, Icahn Partners Master Fund LP, Icahn Enterprises G.P. Inc., Icahn Enterprises Holdings L.P., IPH GP LLC, Icahn Capital LP, Icahn Onshore LP, Icahn Offshore LP, Beckton Corp., Vincent J. Intrieri, Samuel Merksamer and Daniel A. Ninivaggi (collectively, the “Original Icahn Group”). The Company continues to be subject to the rights and obligations of Hertz Holdings under the Nomination and Standstill Agreement. In addition, in connection with their appointments to the Company’s board of directors, each of Courtney Mather, Louis J. Pastor and Stephen A. Mongillo (collectively, the “Icahn Designees,” and, together with the Original Icahn Group, the “Icahn Group”) executed a Joinder Agreement agreeing to become bound as a party to the terms and conditions of the Nomination and Standstill Agreement (such Joinder Agreements are referred to herein collectively as the “Joinder Agreements,” and, together with the Nomination and Standstill Agreement, the “Icahn Agreements”). Pursuant to the Icahn Agreements, the Icahn Designees were appointed to the Company’s board of directors upon completion of the Spin-Off. Pursuant to the Icahn Agreements, so long as an Icahn Designee is a member of the board of directors, the board of directors will not be expanded to greater than ten directors without approval from the Icahn Designees then on the board of directors. In addition, pursuant to the Icahn Agreements, subject to certain restrictions and requirements, the Icahn Group will have certain replacement rights in the event an Icahn Designee resigns or is otherwise unable to serve as a director (other than as a result of not being nominated by the Company for an annual meeting). In addition, until the date that no Icahn Designee is a member of the Board (or otherwise deemed to be on the Board pursuant to the terms of the Icahn Agreements) (the “Board Representation Period”), the Icahn Group agrees to vote all of its shares of the Company’s common stock in favor of the election of all of the Company’s director nominees at each annual or special meeting of the Company’s stockholders. Also pursuant to the Icahn Agreements, during the Board Representation Period, and subject to limited exceptions, the Icahn Group will adhere to certain standstill obligations, including the obligation to not solicit proxies or consents or influence others with respect to the same. The Icahn Group further agrees that during the Board Representation Period, subject to certain limited exceptions, the Icahn Group will not acquire or otherwise beneficially own more than 20% of the Company’s outstanding voting securities. Further, pursuant to the Icahn Agreements, the board of directors dissolved the previously existing Executive and Finance Committee of the Company’s board of directors, and agreed not to create a separate executive committee of the board so long as an Icahn Designee is a member of the board of directors. If at any time the Icahn Group ceases to hold a “net long position,” as defined in the Nomination and Standstill Agreement, in at least (A) 1,900,000 shares of the Company’s common stock, the Icahn Group will cause one Icahn Designee to promptly resign from the board of directors; (B) 1,520,000 shares of the Company’s common stock, the Icahn Group will cause two Icahn Designees to promptly resign from the board of directors; and (C) 1,266,667 shares of the Company’s common stock, the Icahn Group will cause all of the Icahn Designees to promptly resign from the board of directors and the Company’s obligations under the Icahn Agreements will terminate. The foregoing share amounts are adjusted for the reverse stock split that was effective immediately after the Spin-Off. In addition, pursuant to the Icahn Agreements, the Company entered into a registration rights agreement, effective June 30, 2016 (the “Registration Rights Agreement”), with High River Limited Partnership, Icahn Partners LP and Icahn Partners Master Fund LP, on behalf of any person who is a member of the “Icahn group” (as such term is defined therein) who owns applicable securities at the relevant time and is or has become a party to the Registration Rights Agreement. The Registration Rights Agreement provides for customary demand and piggyback registration rights and obligations. An affiliate of Carl C. Icahn purchased $50 million in aggregate principal amount of the 2022 Notes and $75 million in aggregate principal amount of the 2024 Notes.

Arrangements With New Hertz

Arrangements With New Hertz	9 Months Ended
	Sep. 30, 2016
Restructuring and Related Activities [Abstract]
Arrangements With New Hertz	Restructuring As part of the Company's ongoing effort to reduce operating costs, the Company reduced headcount and closed certain branches in 2015 and 2016 in the U.S. and Canada resulting in severance costs as well as branch closure charges which principally relate to continuing lease obligations at vacant facilities. The Company incurred the following restructuring costs (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 By Type: Termination benefits $ 0.1 $ 2.0 $ 1.9 $ 2.2 Facility closure and lease obligation costs — 0.5 1.6 1.3 Total $ 0.1 $ 2.5 $ 3.5 $ 3.5 The following table sets forth the activity affecting the restructuring accrual during the nine months ended September 30, 2016 (in millions). The Company expects to pay the remaining restructuring obligations relating to termination benefits over the next twelve months. The remainder of the restructuring accrual relates to future lease obligations which will be paid over the remaining term of the applicable leases. Termination Other Total Balance as of December 31, 2015 $ 1.2 $ 1.3 $ 2.5 Charges incurred 1.9 1.6 3.5 Cash payments (2.9 ) (1.9 ) (4.8 ) Other non-cash charges (0.1 ) — (0.1 ) Balance as of September 30, 2016 $ 0.1 $ 1.0 $ 1.1 Arrangements with New Hertz In connection with the Spin-Off, the Company entered into a separation and distribution agreement (the “Separation Agreement”) with New Hertz. In connection therewith, the Company also entered into various other ancillary agreements with New Hertz to effect the Spin-Off and provide a framework for its relationship with New Hertz. The following summarizes some of the most significant agreements and relationships that Herc Holdings will continue to have with New Hertz. Separation and Distribution Agreement The Separation Agreement sets forth the Company's agreements with New Hertz regarding the principal actions to be taken in connection with the Spin-Off. It also sets forth other agreements that govern aspects of the Company's relationship with New Hertz following the Spin-Off regarding (i) the internal reorganization and related financing transactions that took place prior to the Spin-Off; (ii) the manner in which legal matters and claims are allocated and certain liabilities are shared between the Company and New Hertz; and (iii) other matters including transfers of assets and liabilities, treatment or termination of intercompany arrangements, releases of certain claims between the parties and their affiliates, successors and assigns, (iv) contains mutual indemnification clauses and (v) allocates Spin-Off expenses between the parties. Transition Services Agreement The Company entered into a transition services agreement (the “Transition Services Agreement”) pursuant to which New Hertz or its affiliates will provide specified services to the Company on a transitional basis to help ensure an orderly transition following the Spin-Off, although New Hertz may request certain transition services to be performed by the Company. The Transition Services Agreement generally provides for a term of up to two years following the Spin-Off, though the recipient of the services may elect to terminate a service at any time upon advance written notice. Tax Matters Agreement The Company entered into a tax matters agreement (the “Tax Matters Agreement”) with New Hertz that governs the parties' rights, responsibilities and obligations after the Spin-Off with respect to tax liabilities and benefits, tax attributes, tax contests and other tax matters regarding income taxes, other taxes and related tax returns. Employee Matters Agreement The Company and New Hertz entered into an employee matters agreement (the “Employee Matters Agreement”) to allocate liabilities and responsibilities relating to employment matters, employee compensation, benefit plans and programs and other related matters. The Employee Matters Agreement governs New Hertz and the Company's obligations with respect to such matters for current and former employees of the vehicle rental business and the equipment rental business. Intellectual Property Agreement The Company and New Hertz entered into an intellectual property agreement (the “Intellectual Property Agreement”) that provides for ownership, licensing and other arrangements regarding the trademarks and related intellectual property that New Hertz and the Company use in conducting their businesses. The Intellectual Property Agreement allocates ownership between New Hertz and the Company of all trademarks, domain names and certain copyrights that Hertz Holdings or its subsidiaries owned immediately prior to the distribution date. Real Estate Arrangements The Company and New Hertz entered into certain real estate lease agreements pursuant to which the Company will lease certain office and shared rental facilities space from New Hertz. Rent payments will generally be negotiated based on comparable fair market rental rates and adjusted each year of the lease to reflect increases or decreases in operating and maintenance expenses and other factors. New Hertz may generally terminate the leases in the event of a material uncured default by the Company.

Basis of Presentation and Rec23

Basis of Presentation and Recently Issued Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Company prepares its condensed consolidated and combined financial statements in conformity with accounting principles generally accepted in the United States (“U.S. GAAP”). In the opinion of management, the condensed consolidated and combined financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. The year-end condensed balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes. Actual results could differ materially from those estimates. Significant estimates inherent in the preparation of the condensed consolidated and combined financial statements include depreciation of revenue earning equipment, reserves for litigation and other contingencies, accounting for income taxes, pension and postretirement benefits, the recoverability of long-lived assets, useful lives and impairment of long-lived tangible and intangible assets including goodwill and trade name, valuation of stock-based compensation, reserves for restructuring, allowances for receivables and, prior to the Spin-Off, allocated general corporate expenses from THC, among others. The Quarterly Report on Form 10-Q for the quarter ended June 30, 2016 was the Company's first periodic report made post-Spin-Off as a stand-alone public company comprised of only the equipment rental business. The condensed consolidated and combined financial statements were presented on a basis of accounting that reflected a change in reporting entity and were adjusted for the effects of the Spin-Off. The condensed consolidated and combined financial statements and selected financial information represent only those operations, assets, liabilities and equity that form Herc Holdings on a stand-alone basis. Since the Spin-Off occurred on June 30, 2016, the financial statements in this Quarterly Report on Form 10-Q for the quarter ended September 30, 2016 (this "Report") represent the carve-out financial results for the first six months of 2016, including the Spin-Off impacts, and actual results for the three months ended September 30, 2016 . All prior period amounts represent carve-out financial results.
Principles of Consolidation	Principles of Consolidation The condensed consolidated and combined financial statements include the accounts of Herc Holdings and its wholly owned domestic and international subsidiaries. In the event that the Company is a primary beneficiary of a variable interest entity, the assets, liabilities, and results of operations of the variable interest entity are included in the Company's condensed consolidated and combined financial statements. The Company accounts for its investments in joint ventures using the equity method when it has significant influence but not control and is not the primary beneficiary. All significant intercompany transactions have been eliminated in consolidation. Transactions between the Company and THC and its affiliates prior to the Spin-Off are herein referred to as “related party” or “affiliated” transactions for the periods presented. Effective with the Spin-Off on June 30, 2016, all transactions with THC and its affiliates were settled and paid in full. Effective upon the Spin-Off, the Company entered into a Transition Services Agreement ("TSA") with New Hertz. See Note 15 , " Arrangements with New Hertz " for further information. For periods prior to the Spin-Off, the condensed consolidated and combined financial statements include net interest expense on loans receivable and payable to affiliates and expense allocations for certain corporate functions historically performed by THC, including, but not limited to, general corporate expenses related to finance, legal, information technology, human resources, communications, employee benefits and incentives, insurance and stock-based compensation. These expenses were allocated to the Company on the basis of direct usage when identifiable, with the remainder allocated on the basis of revenues, operating expenses, headcount or other relevant measures. Management believes the assumptions underlying the condensed consolidated and combined financial statements, including the assumptions regarding the allocation of corporate expenses from THC, are reasonable. Nevertheless, the condensed consolidated and combined financial statements may not include all of the expenses that would have been incurred had the Company been a stand-alone company during the periods presented and may not reflect the Company's condensed consolidated and combined financial position, results of operations and cash flows had the Company been a stand-alone company during the periods presented. Actual costs that would have been incurred if the Company had been a stand-alone company would have depended on multiple factors, including organizational structure and strategic decisions made in various areas, including information technology and infrastructure. For additional information related to costs allocated to the Company by THC, see Note 14 , " Related Party Transactions ."
Reclassification of Prior Period Presentation	Reclassification of Prior Period Presentation Certain prior period amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect on the reported condensed consolidated and combined balance sheets, results of operations, equity or cash flows for any period presented.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could be Achieved After the Requisite Service Period In June 2014, the Financial Accounting Standards Board ("FASB") issued guidance requiring that a performance target in a share-based payment award that affects vesting and that can be achieved after the requisite service period is completed is to be accounted for as a performance condition; therefore, compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved, and the amount of compensation cost recognized should be based on the portion of the service period fulfilled. The Company adopted this guidance prospectively on January 1, 2016 in accordance with the effective date. Adoption of this new guidance did not impact the Company’s financial position, results of operations or cash flows. Amendments to the Consolidation Analysis In February 2015, the FASB issued guidance that changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The Company adopted this guidance retrospectively on January 1, 2016 in accordance with the effective date. Adoption of this new guidance did not impact the Company’s financial position, results of operations or cash flows. Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued guidance requiring debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. In August 2015, the FASB issued guidance clarifying that debt issuance costs related to line-of-credit and other revolving debt arrangements may be deferred and presented as an asset. The Company adopted this guidance retrospectively on January 1, 2016 in accordance with the effective date. The adoption of this new guidance did not impact the Company's financial position, results of operations or cash flows for any periods prior to 2016 . Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In April 2015, the FASB issued guidance for customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The Company adopted this guidance prospectively on January 1, 2016 in accordance with the effective date. Adoption of this new guidance did not impact the Company’s financial position, results of operations or cash flows. Not Yet Adopted Revenue from Contracts with Customers In May 2014, the FASB issued guidance that will replace most existing revenue recognition guidance in U.S. GAAP. The new guidance applies to all contracts with customers except for leases, insurance contracts, financial instruments, certain nonmonetary exchanges and certain guarantees. The core principle of the guidance is that an entity should recognize revenue for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The new principles-based revenue recognition model requires an entity to perform five steps in its analysis: 1) identify the contract(s) with a customer, 2) identify the performance obligations in the contract, 3) determine the transaction price, 4) allocate the transaction price to the performance obligations in the contract, and 5) recognize revenue when (or as) the entity satisfies a performance obligation. Under the new guidance, performance obligations in a contract will be separately identified, which may impact the timing of recognition of the revenue allocated to each obligation. The measurement of revenue recognized may also be impacted by identification of new performance obligations and other matters, such as collectability and variable consideration. Also, additional disclosures are required about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. The new guidance may be adopted on either a full or modified retrospective basis. As originally issued, the guidance was effective for annual reporting periods beginning after December 15, 2016, including interim periods within those reporting periods. However in July 2015, the FASB agreed to defer the effective date until annual and interim reporting periods beginning after December 15, 2017. In March 2016, the FASB issued clarifying guidance on assessing whether an entity is a principal or an agent in a revenue transaction, which impacts whether an entity reports revenue on a gross or net basis. In April 2016, the FASB issued guidance that reduces the complexity for identifying performance obligations and clarifies the implementation guidance on licensing for intellectual property. In May 2016, the FASB issued guidance that clarifies the collectability criterion, the presentation of sales taxes, and non-cash consideration, and provides additional implementation practical expedients. The Company is in the process of determining the method and timing of adoption and assessing the overall impacts of adopting this guidance on its financial position, results of operations and cash flows. Simplifying the Subsequent Measurement of Inventory In July 2015, the FASB issued guidance that requires inventory to be measured at the lower of cost and net realizable value (rather than cost or market), excluding inventory measured using the last-in, first-out method or the retail inventory method. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. This guidance is effective prospectively for annual periods beginning after December 15, 2016 and interim periods within those annual periods. The Company has assessed the potential impacts from future adoption of this guidance and has determined that there will be no impact on its financial position, results of operations and cash flows. Recognition and Measurement of Financial Assets and Financial Liabilities In January 2016, the FASB issued guidance that makes several changes to the manner in which financial assets and liabilities are accounted for, including, among other things, a requirement to measure most equity investments at fair value with changes in fair value recognized in net income (with the exception of investments that are consolidated or accounted for using the equity method or a fair value practicability exception), and amends certain disclosure requirements related to fair value measurements and financial assets and liabilities. This guidance is effective for annual periods beginning after December 15, 2017 and interim periods within those annual periods using a modified retrospective transition method for most of the requirements. The Company is in the process of assessing the potential impacts of adopting this guidance on its financial position, results of operations and cash flows. Leases In February 2016, the FASB issued guidance that replaces the existing lease guidance. The new guidance establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and lease liability on the balance sheet for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This guidance also expands the requirements for lessees to record leases embedded in other arrangements and the required quantitative and qualitative disclosures surrounding leases. Accounting guidance for lessors is largely unchanged. This guidance is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods using a modified retrospective transition approach. The Company is in the process of assessing the potential impacts of adopting this guidance on its financial position, results of operations and cash flows. Simplifying the Transition to the Equity Method of Accounting In March 2016, the FASB issued guidance that eliminates the requirement to apply the equity method of accounting retrospectively when significant influence over a previously held investment is obtained. Rather, the guidance requires the investor to add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method of accounting. This guidance is effective prospectively for annual periods beginning after December 15, 2016 and interim periods within those annual periods. The Company has assessed the potential impacts from future adoption of this guidance and has determined that there will be no impact on its financial position, results of operations and cash flows. Improvements to Employee Share-Based Payment Accounting In March 2016, the FASB issued guidance that simplifies several areas of employee share-based payment accounting, including income taxes, forfeitures, minimum statutory withholding requirements, and classifications within the statement of cash flows. Most significantly, the new guidance eliminates the need to track tax “windfalls” in a separate pool within additional paid-in capital; instead, excess tax benefits and tax deficiencies will be recorded within income tax expense. The new guidance also gives entities the ability to elect whether to estimate forfeitures or account for them as they occur. Different adoption methods are required for the various aspects of the new guidance, including the retrospective, modified retrospective and prospective approaches, effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. The Company is in the process of assessing the impacts of adopting this guidance on its financial position, results of operations and cash flows. Statement of Cash Flows: Classification of Certain Cash Receipts and Cash Payments In August 2016, the FASB issued guidance to eliminate the diversity in practice related to the classification of certain cash receipts and payments in the statement of cash flows, by adding or clarifying guidance on eight specific cash flow issues. This guidance is effective for annual and interim reporting periods beginning after December 15, 2017, with early adoption permitted. The Company is currently evaluating the new guidance and has not determined the impact adopting this guidance may have on its statement of cash flows.

Basis of Presentation and Rec24

Basis of Presentation and Recently Issued Accounting Pronouncements Basis of Presentation and Recently Issued Accounting Pronouncements (Tables)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Impact of Revisions to Items Previously Reported by Company	The table below reflects the impact of the revisions to amounts included in this Report that were previously reported by the Company and also reflects the retroactive impact of the June 30, 2016 stock split, as described above under the heading " Stock Split " (in millions). Nine Months Ended September 30, 2015 As Previously Reported Adjustments As Revised Condensed Consolidated and Combined Statements of Other Comprehensive Income (Loss) Total other comprehensive income (loss) $ (70.9 ) $ 23.6 $ (47.3 ) Total comprehensive income (loss) (37.8 ) 23.6 (14.2 ) September 30, 2015 As Previously Reported Adjustments Impact of Stock Split As Revised Condensed Consolidated and Combined Statements of Changes in Equity Additional paid-in capital $ 3,182.1 $ (116.9 ) $ 4.3 $ 3,069.5 Accumulated other comprehensive loss (173.3 ) 93.7 — (79.6 ) Nine Months Ended September 30, 2015 As Previously Reported Adjustments As Revised Condensed Consolidated and Combined Statements of Cash Flows Net cash provided by operating activities $ 378.5 $ (1.5 ) $ 377.0 Net cash provided by financing activities 86.3 (11.6 ) 74.7 Cash and cash equivalents at end of period 16.7 (13.1 ) 3.6

Revenue Earning Equipment (Tabl

Revenue Earning Equipment (Tables)	9 Months Ended
	Sep. 30, 2016
Property Subject to or Available for Operating Lease, Net [Abstract]
Components of Revenue Earning Equipment	Revenue earning equipment consists of the following (in millions): September 30, 2016 December 31, 2015 Revenue earning equipment $ 3,760.1 $ 3,526.2 Less: Accumulated depreciation (1,273.0 ) (1,143.7 ) Revenue earning equipment, net $ 2,487.1 $ 2,382.5

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Debt	The Company's debt consists of the following (in millions): Weighted Average Interest Rate at September 30, 2016 Fixed or Floating Interest Rate Maturity September 30, December 31, Senior Secured Second Priority Notes 2022 Notes 7.50% Fixed 2022 $ 610.0 $ — 2024 Notes 7.75% Fixed 2024 625.0 — Other Debt ABL Credit Facility 2.49% Floating 2021 852.0 — Capital leases 3.98% Fixed 2016-2021 74.4 63.5 Predecessor ABL Facility N/A Floating N/A — — Unamortized Debt Issuance Costs (a) (21.5 ) — Total debt 2,139.9 63.5 Less: Current maturities of long-term debt (15.5 ) (10.2 ) Long-term debt $ 2,124.4 $ 53.3 (a) Unamortized debt issuance costs totaling $18.0 million related to the ABL Credit Facility (as defined below) are included in "Other long-term assets" in the condensed consolidated and combined balance sheet as of September 30, 2016 .
Borrowing Capacity and Availability on Line of Credit	After outstanding borrowings, the following was available to the Company under the ABL Credit Facility as of September 30, 2016 (in millions): Remaining Capacity Availability Under Borrowing Base Limitation ABL Credit Facility $ 875.1 $ 875.1

Employee Retirement Benefits (T

Employee Retirement Benefits (Tables)	9 Months Ended
	Sep. 30, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Periodic Costs	The following table sets forth the net periodic pension expense (in millions): Net Periodic Pension Costs (Benefits) Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Components of Net Periodic Pension Benefit: Service cost $ — $ 0.1 $ — $ 0.1 Interest cost 1.3 1.4 4.4 4.2 Expected return on plan assets (1.9 ) (2.2 ) (5.9 ) (6.6 ) Net amortizations 0.5 0.1 1.4 0.3 Settlement loss — — — 0.2 Net periodic pension benefit $ (0.1 ) $ (0.6 ) $ (0.1 ) $ (1.8 )

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Components of Stock-Based Compensation Expense	A summary of the total compensation expense and associated income tax benefits recognized under the plan are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Compensation expense $ 1.1 $ 1.4 $ 3.8 $ 2.3 Income tax benefit (0.4 ) (0.5 ) (1.5 ) (0.9 ) Total $ 0.7 $ 0.9 $ 2.3 $ 1.4

Accumulated Other Comprehensi29

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	The changes in the accumulated other comprehensive income (loss) balance by component (net of tax) for the nine months ended September 30, 2016 and 2015 are presented in the tables below (in millions). Pension and Other Post-Employment Benefits Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2015 $ (15.5 ) $ (119.9 ) $ (135.4 ) Other comprehensive income (loss) before reclassification (4.9 ) 23.3 18.4 Amounts reclassified from accumulated other comprehensive loss 0.9 — 0.9 Net current period other comprehensive income (loss) (4.0 ) 23.3 19.3 Balance at September 30, 2016 $ (19.5 ) $ (96.6 ) $ (116.1 ) Pension and Other Post-Employment Benefits Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2014 $ (10.8 ) $ (21.5 ) $ (32.3 ) Other comprehensive income (loss) before reclassification 0.1 (47.7 ) (47.6 ) Amounts reclassified from accumulated other comprehensive loss 0.3 — 0.3 Net current period other comprehensive income (loss) 0.4 (47.7 ) (47.3 ) Balance at September 30, 2015 $ (10.4 ) $ (69.2 ) $ (79.6 )
Reclassification out of Accumulated Other Comprehensive Income	Amounts reclassified from accumulated other comprehensive income (loss) to net income (loss) were as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, Pension and other postretirement benefit plans 2016 2015 2016 2015 Statement of Operations Caption Amortization of actuarial losses (a) $ 0.5 $ 0.1 $ 1.4 $ 0.3 Selling, general and administrative Settlement loss (a) — — — 0.2 Selling, general and administrative Total 0.5 0.1 1.4 0.5 Tax benefit (0.2 ) — (0.5 ) (0.2 ) Income tax expense Total reclassifications for the period $ 0.3 $ 0.1 $ 0.9 $ 0.3 (a) Included in the computation of net periodic pension costs (benefits). See Note 5 , " Employee Retirement Benefits ."

Restructuring (Tables)

Restructuring (Tables)	9 Months Ended
	Sep. 30, 2016
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The Company incurred the following restructuring costs (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 By Type: Termination benefits $ 0.1 $ 2.0 $ 1.9 $ 2.2 Facility closure and lease obligation costs — 0.5 1.6 1.3 Total $ 0.1 $ 2.5 $ 3.5 $ 3.5
Schedule of Restructuring Reserve	The following table sets forth the activity affecting the restructuring accrual during the nine months ended September 30, 2016 (in millions). The Company expects to pay the remaining restructuring obligations relating to termination benefits over the next twelve months. The remainder of the restructuring accrual relates to future lease obligations which will be paid over the remaining term of the applicable leases. Termination Other Total Balance as of December 31, 2015 $ 1.2 $ 1.3 $ 2.5 Charges incurred 1.9 1.6 3.5 Cash payments (2.9 ) (1.9 ) (4.8 ) Other non-cash charges (0.1 ) — (0.1 ) Balance as of September 30, 2016 $ 0.1 $ 1.0 $ 1.1

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Estimated Fair Value of Financial Instruments	The following table summarizes the estimated fair value of the Company's financial instruments, none of which have been designated in a hedging relationship (in millions). Fair Value of Financial Instruments Prepaid & Other Current Assets Accrued Liabilities September 30, 2016 December 31, September 30, 2016 December 31, Foreign currency forward contracts $ — $ 0.1 $ 1.2 $ —
Derivative Instruments, Gain (Loss)	The following table summarizes the losses on derivative instruments for the periods indicated. All losses are recorded in "Selling, general and administrative" in the condensed consolidated and combined statements of operations (in millions). Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Foreign currency forward contracts $ (2.6 ) $ (0.2 ) $ (2.7 ) $ (6.5 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Debt	The fair value of debt is estimated based on quoted market rates as well as borrowing rates currently available to the Company for loans with similar terms and average maturities (Level 2 inputs) (in millions). September 30, 2016 December 31, 2015 Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Debt $ 2,161.4 $ 2,206.2 $ 63.5 $ 63.5

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted earnings (loss) per share (in millions, except per share data). Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Basic and diluted earnings (loss) per share: Numerator: Net income (loss), basic and diluted $ 3.0 $ 20.8 $ (6.5 ) $ 33.1 Denominator: Basic weighted average common shares 28.3 30.3 28.3 30.5 Stock options, RSUs and PSUs (a) — — — — Weighted average shares used to calculate diluted earnings per share 28.3 30.3 28.3 30.5 Earnings (loss) per share: Basic $ 0.11 $ 0.69 $ (0.23 ) $ 1.09 Diluted $ 0.11 $ 0.69 $ (0.23 ) $ 1.09 Antidilutive stock options, RSUs and PSUs (a) 0.3 0.1 0.2 — (a) The dilutive impact of stock options, RSUs and PSUs for the three months ended September 30, 2016 and the three and nine months ended September 30, 2015 and antidilutive impact for the nine months ended September 30, 2015 round to zero for each period.

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Costs incurred and allocated by THC were included in the condensed consolidated and combined statements of operations as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Direct operating $ — $ (0.8 ) $ 0.6 $ (0.1 ) Selling, general and administrative — 9.0 18.0 27.4 Total allocated expenses $ — $ 8.2 $ 18.6 $ 27.3

Background (Details)

Background (Details)	9 Months Ended
	Sep. 30, 2016company_operated_branchfranchisee_owned_branch
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of company-operated branches | company_operated_branch	270
Number of franchisee owned branches | franchisee_owned_branch	15

Basis of Presentation and Rec36

Basis of Presentation and Recently Issued Accounting Pronouncements - Stock Split (Details) shares in Millions, $ in Millions	Jun. 30, 2016shares	Sep. 30, 2016USD ($)shares	Dec. 31, 2015USD ($)shares	Sep. 30, 2015USD ($)
Class of Stock [Line Items]
Stock split conversion ratio	0.0667
Common Stock, shares authorized (in shares) | shares	133.3	133.3	133.3
Preferred Stock, shares authorized (in shares) | shares	13.3	13.3	13.3
Impact to common stock, value, issued		$ 0.3	$ 0.3
Impact of stock-split on additional paid-in capital		$ 1,772.2	$ 3,734.6	$ 3,069.5
Impact of Stock Split | Adjustments
Class of Stock [Line Items]
Impact to common stock, value, issued				(4.3)
Impact of stock-split on additional paid-in capital				$ 4.3

Basis of Presentation and Rec37

Basis of Presentation and Recently Issued Accounting Pronouncements - Correction of Errors (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Dec. 31, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total other comprehensive income (loss)	$ (0.3)	$ (34.3)	$ 19.3	$ (47.3)
Total comprehensive income (loss)	2.7	(13.5)	12.8	(14.2)
Additional paid-in capital	1,772.2	3,069.5	1,772.2	3,069.5	$ 3,734.6
Accumulated other comprehensive loss	(116.1)	(79.6)	(116.1)	(79.6)	(135.4)
Net cash provided by operating activities			370.9	377
Net cash provided by financing activities			(94.6)	74.7
Cash and cash equivalents	51.9	3.6	51.9	3.6	$ 15.7	$ 18.9
Selling, general and administrative	67	62.8	200.5	206
Direct operating	$ 169.6	185.7	$ 487.3	538.2
As Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total other comprehensive income (loss)				(70.9)
Total comprehensive income (loss)				(37.8)
Additional paid-in capital		3,182.1		3,182.1
Accumulated other comprehensive loss		(173.3)		(173.3)
Net cash provided by operating activities				378.5
Net cash provided by financing activities				86.3
Cash and cash equivalents		16.7		16.7
Adjustments | Historical Mapping of Entities Related to Spin-Off
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total other comprehensive income (loss)				23.6
Total comprehensive income (loss)				23.6
Additional paid-in capital		(116.9)		(116.9)
Accumulated other comprehensive loss		93.7		93.7
Net cash provided by operating activities				(1.5)
Net cash provided by financing activities				(11.6)
Cash and cash equivalents		(13.1)		(13.1)
Adjustments | Reclassification Between SG&A and Direct Operating Expenses due to Incorrect Mapping
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Selling, general and administrative				6.2
Direct operating				6.2
Impact of Stock Split | Adjustments
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Additional paid-in capital		$ 4.3		$ 4.3

Revenue Earning Equipment - Rev

Revenue Earning Equipment - Revenue Earning Equipment Components (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Property Subject to or Available for Operating Lease, Net [Abstract]
Revenue earning equipment	$ 3,760.1	$ 3,526.2
Less: Accumulated depreciation	(1,273)	(1,143.7)
Revenue earning equipment, net	$ 2,487.1	$ 2,382.5

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs	$ (21.5)	$ 0
Total debt	2,139.9	63.5
Less: Current maturities of long-term debt	(15.5)	(10.2)
Long-term debt	$ 2,124.4	53.3
Senior Secured Second Priority Notes | 2022 Notes
Debt Instrument [Line Items]
Weighted Average interest rate (as a percent)	7.50%
Debt, gross	$ 610	0
Senior Secured Second Priority Notes | 2024 Notes
Debt Instrument [Line Items]
Weighted Average interest rate (as a percent)	7.75%
Debt, gross	$ 625	0
Capital leases | Capital leases
Debt Instrument [Line Items]
Weighted Average interest rate (as a percent)	3.98%
Debt, gross	$ 74.4	63.5
Senior Secured Revolving Credit Facility | Line of Credit | ABL Credit Facility
Debt Instrument [Line Items]
Weighted Average interest rate (as a percent)	2.49%
Debt, gross	$ 852	0
Senior Secured Revolving Credit Facility | Line of Credit | Predecessor ABL Facility
Debt Instrument [Line Items]
Debt, gross	0	$ 0
Other long-term assets | Senior Secured Revolving Credit Facility | Line of Credit | ABL Credit Facility
Debt Instrument [Line Items]
Unamortized debt issuance costs related to credit facility	$ 18

Debt - Senior Secured Second Pr

Debt - Senior Secured Second Priority Notes (Details) - Senior Secured Second Priority Notes	Jun. 30, 2016USD ($)
7.50% Senior Notes, Due 2022
Debt Instrument [Line Items]
Aggregate principal amount	$ 610,000,000
Stated rate	7.50%
7.75% Senior Notes, Due 2024
Debt Instrument [Line Items]
Aggregate principal amount	$ 625,000,000
Stated rate	7.75%

Debt - ABL Credit Facility (Det

Debt - ABL Credit Facility (Details) - Line of Credit - ABL Credit Facility	9 Months Ended
	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)
Line of Credit Facility [Line Items]
Fixed charge coverage ratio (not less than)	1
Senior Secured Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 1,750,000,000
Maximum payment of dividends (not to exceed)	$ 200,000,000
Remaining Capacity	875,100,000
Availability Under Borrowing Base Limitation	875,100,000
Revolving Credit Facility
Line of Credit Facility [Line Items]
Maximum borrowing capacity		350,000,000
Letter of Credit
Line of Credit Facility [Line Items]
Maximum borrowing capacity		$ 250,000,000
Remaining Capacity	227,100,000
Letter of credit outstanding	$ 22,900,000

Employee Retirement Benefits -

Employee Retirement Benefits - Net Periodic Costs (Benefits) (Details) - Pension Benefits - U.S. - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 0	$ 0.1	$ 0	$ 0.1
Interest cost	1.3	1.4	4.4	4.2
Expected return on plan assets	(1.9)	(2.2)	(5.9)	(6.6)
Net amortizations	0.5	0.1	1.4	0.3
Settlement loss	0	0	0	0.2
Net periodic pension benefit	$ (0.1)	$ (0.6)	$ (0.1)	$ (1.8)

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - Omnibus Plan - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-qualified stock options granted (in shares)	425,322
Options, weighted average grant date fair value (in USD per share)	$ 14.25		$ 14.25
Allocated stock-based compensation expense	$ 1,100,000	$ 1,400,000	$ 3,800,000	$ 2,300,000
Unrecognized compensation cost	$ 19,500,000		$ 19,500,000
Compensation cost not yet recognized, period for recognition			2 years 5 months 4 days
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	25.00%
Award vesting period	4 years
Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock, grants in period (in shares)	206,675
Restricted stock, weighted average grant date fair value (in USD per share)	$ 33.19
Vesting percentage	100.00%
Award vesting period	3 years
THC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated stock-based compensation expense	$ 0	$ 1,300,000	$ 2,000,000	$ 1,600,000

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock-Based Compensation Expense (Details) - Omnibus Plan - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award, Compensation Cost [Line Items]
Compensation expense	$ 1.1	$ 1.4	$ 3.8	$ 2.3
Income tax benefit	(0.4)	(0.5)	(1.5)	(0.9)
Total	$ 0.7	$ 0.9	$ 2.3	$ 1.4

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2016
Income Tax Contingency [Line Items]
Effective tax rate (as percent)	55.20%	41.40%	360.00%	46.40%
Uncertain tax positions	$ 0.4		$ 0.4
Forecast
Income Tax Contingency [Line Items]
Effective tax rate (as percent)					118.00%
Tax expense related to state taxes incurred from spin-off					$ 6.4
Federal
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 183.7		$ 183.7

Accumulated Other Comprehensi46

Accumulated Other Comprehensive Income (Loss) - Changes in AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			$ 2,302	$ 1,693.7
Total other comprehensive income (loss)	$ (0.3)	$ (34.3)	19.3	(47.3)
Ending balance	352.4	1,957.3	352.4	1,957.3
Pension and Other Post-Employment Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(15.5)	(10.8)
Other comprehensive income (loss) before reclassification			(4.9)	0.1
Amounts reclassified from accumulated other comprehensive loss			0.9	0.3
Total other comprehensive income (loss)			(4)	0.4
Ending balance	(19.5)	(10.4)	(19.5)	(10.4)
Foreign Currency Items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(119.9)	(21.5)
Other comprehensive income (loss) before reclassification			23.3	(47.7)
Amounts reclassified from accumulated other comprehensive loss			0	0
Total other comprehensive income (loss)			23.3	(47.7)
Ending balance	(96.6)	(69.2)	(96.6)	(69.2)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(135.4)	(32.3)
Other comprehensive income (loss) before reclassification			18.4	(47.6)
Amounts reclassified from accumulated other comprehensive loss			0.9	0.3
Total other comprehensive income (loss)			19.3	(47.3)
Ending balance	$ (116.1)	$ (79.6)	$ (116.1)	$ (79.6)

Accumulated Other Comprehensi47

Accumulated Other Comprehensive Income (Loss) - Reclassification out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative	$ (67)	$ (62.8)	$ (200.5)	$ (206)
Total	6.7	35.5	2.5	61.8
Tax benefit	(3.7)	(14.7)	(9)	(28.7)
Net income (loss)	3	20.8	(6.5)	33.1
Reclassification out of Accumulated Other Comprehensive Income | Pension and Other Post-Employment Benefits
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Total	0.5	0.1	1.4	0.5
Tax benefit	(0.2)	0	(0.5)	(0.2)
Net income (loss)	0.3	0.1	0.9	0.3
Reclassification out of Accumulated Other Comprehensive Income | Amortization of actuarial (gain) losses
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative	0.5	0.1	1.4	0.3
Reclassification out of Accumulated Other Comprehensive Income | Settlement loss
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Selling, general and administrative	$ 0	$ 0	$ 0	$ 0.2

Contingencies and Off-Balance48

Contingencies and Off-Balance Sheet Commitments (Details) - USD ($) $ in Millions	1 Months Ended	9 Months Ended
	Oct. 31, 2014	Sep. 30, 2016	Dec. 31, 2015
Accrued Expenses and Other Liabilities
Loss Contingencies [Line Items]
Accrued environmental liabilities		$ 0.2	$ 0.1
THC
Loss Contingencies [Line Items]
Related party indemnification percentage		15.00%
Hertz Global Holdings, Inc. Securities Litigation
Loss Contingencies [Line Items]
Plaintiff's period to file amended complaint	30 days

Restructuring - Restructuring C

Restructuring - Restructuring Costs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 0.1	$ 2.5	$ 3.5	$ 3.5
Termination benefits
Restructuring Cost and Reserve [Line Items]
Restructuring	0.1	2	1.9	2.2
Facility closure and lease obligation costs
Restructuring Cost and Reserve [Line Items]
Restructuring	$ 0	$ 0.5	$ 1.6	$ 1.3

Restructuring - Restructuring R

Restructuring - Restructuring Reserve (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2015			$ 2.5
Charges incurred	$ 0.1	$ 2.5	3.5	$ 3.5
Cash payments			(4.8)
Other non-cash charges			(0.1)
Balance as of September 30, 2016	1.1		1.1
Termination benefits
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2015			1.2
Charges incurred	0.1	$ 2	1.9	$ 2.2
Cash payments			(2.9)
Other non-cash charges			(0.1)
Balance as of September 30, 2016	0.1		0.1
Other
Restructuring Reserve [Roll Forward]
Balance as of December 31, 2015			1.3
Charges incurred			1.6
Cash payments			(1.9)
Other non-cash charges			0
Balance as of September 30, 2016	$ 1		$ 1

Financial Instruments - Estimat

Financial Instruments - Estimated Fair Value of Financial Instruments (Details) - Fair Value, Measurements, Recurring - Not Designated as Hedging Instrument - Foreign Currency Forward Contracts - USD ($) $ in Millions	Sep. 30, 2016	Dec. 31, 2015
Prepaid Expenses and Other Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Derivatives	$ 0	$ 0.1
Accrued Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Derivatives	$ 1.2	$ 0

Financial Instruments - Gains (

Financial Instruments - Gains (Losses) on Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Foreign Currency Forward Contracts | Selling, General and Administrative Expenses
Derivative Instruments, Gain (Loss) [Line Items]
Foreign currency forward contracts	$ (2.6)	$ (0.2)	$ (2.7)	$ (6.5)

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and investments	$ 0	$ 13,500,000
Estimate of Fair Value Measurement [Member] | Level 2
Fair Value of Financial Instruments [Abstract]
Debt	2,206,200,000	63,500,000
Reported Value Measurement [Member]
Fair Value of Financial Instruments [Abstract]
Debt	$ 2,161,400,000	$ 63,500,000

Earnings (Loss) Per Share - Nar

Earnings (Loss) Per Share - Narrative (Details)	Jun. 30, 2016
Earnings Per Share [Abstract]
Stock split conversion ratio	0.0667

Earnings (Loss) Per Share - Com

Earnings (Loss) Per Share - Computation of Basic and Diluted Earnings (Loss) per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Numerator:
Net income (loss), basic and diluted	$ 3	$ 20.8	$ (6.5)	$ 33.1
Denominator:
Basic weighted average common shares (in shares)	28.3	30.3	28.3	30.5
Stock options, RSUs and PSUs (in shares)	0	0	0	0
Weighted average shares used to calculate diluted earnings per share (in shares)	28.3	30.3	28.3	30.5
Earnings (loss) per share:
Basic (in USD per share)	$ 0.11	$ 0.69	$ (0.23)	$ 1.09
Diluted (in USD per share)	$ 0.11	$ 0.69	$ (0.23)	$ 1.09
Antidilutive stock options, RSUs and PSUs (in shares)	0	0	0	0
Antidilutive stock options, RSUs and PSUs
Earnings (loss) per share:
Antidilutive stock options, RSUs and PSUs (in shares)	0.3	0.1	0.2	0

Related Party Transactions - Co

Related Party Transactions - Costs Incurred and Allocated (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Related Party Transaction [Line Items]
Direct operating	$ 169.6	$ 185.7	$ 487.3	$ 538.2
Selling, general and administrative	67	62.8	200.5	206
THC
Related Party Transaction [Line Items]
Direct operating	0	(0.8)	0.6	(0.1)
Selling, general and administrative	0	9	18	27.4
Total allocated expenses	$ 0	$ 8.2	$ 18.6	$ 27.3

Related Party Transactions - Ag

Related Party Transactions - Agreements with Carl Icahn (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)shares
Senior Notes | 7.50% Senior Notes, Due 2022 | Affiliate of Related Party
Related Party Transaction [Line Items]
Purchase of principal | $	$ 50
Senior Notes | 7.75% Senior Notes, Due 2024 | Affiliate of Related Party
Related Party Transaction [Line Items]
Purchase of principal | $	$ 75
Nomination and Standstill Agreement | Icahn Group
Related Party Transaction [Line Items]
Ownership percentage limit (no more than)	20.00%
Net long position shares held, tranche one (in shares)	1,900,000
Net long position shares held, tranche two (in shares)	1,520,000
Net long position shares held, tranche three (in shares)	1,266,667

Arrangements With New Hertz Arr

Arrangements With New Hertz Arrangements With New Hertz (Details)	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Transition Services Agreement period (up to)	2 years