Herc (HRI) 10-Q 23 Oct 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2019shares
Entity Information [Line Items]
Document Transition Report	false
Document Quarterly Report	true
Document Fiscal Period Focus	Q3
Entity Tax Identification Number	20-3530539
Document Type	10-Q
Amendment Flag	false
Entity Registrant Name	HERC HOLDINGS INC.
Entity Address, Address Line One	27500 Riverview Center Blvd.
Entity Address, City or Town	Bonita Springs
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	34134
City Area Code	239
Local Phone Number	301-1000
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	HRI
Security Exchange Name	NYSE
Entity Central Index Key	0001364479
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Large Accelerated Filer
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Entity File Number	001-33139
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Incorporation, State or Country Code	DE
Entity Common Stock, Shares Outstanding	28,822,275

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents	$ 34.5	$ 27.8
Receivables, net of allowances of $24.8 and $21.5, respectively	316.4	332.4
Other current assets	30.9	40.2
Total current assets	381.8	400.4
Rental equipment, net	2,625	2,504.7
Property and equipment, net	302.7	282.5
Right-of-use lease assets	186.8	0
Intangible assets, net	292.1	293.5
Goodwill	91	91
Other long-term assets	23.7	38.1
Total assets	3,903.1	3,610.2
LIABILITIES AND EQUITY
Current maturities of long-term debt and financing obligations	33	29.9
Current maturities of operating lease liabilities	30.3	0
Accounts payable	212	147
Accrued liabilities	120.9	122.3
Total current liabilities	396.2	299.2
Long-term debt, net	2,149.1	2,129.9
Financing obligations, net	118.2	116.3
Operating lease liabilities	161.5	0
Deferred tax liabilities	441.2	448.3
Other long-term liabilities	43.9	43.8
Total liabilities	3,310.1	3,037.5
Commitments and contingencies (Note 10)
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, 31.5 and 31.2 shares issued and 28.8 and 28.5 shares outstanding	0.3	0.3
Additional paid-in capital	1,789.2	1,777.9
Accumulated deficit	(386.3)	(391.1)
Accumulated other comprehensive loss	(118.2)	(122.4)
Treasury stock, at cost, 2.7 shares and 2.7 shares	(692)	(692)
Total equity	593	572.7
Total liabilities and equity	$ 3,903.1	$ 3,610.2

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Receivables, allowance for doubtful accounts	$ 24.8	$ 21.5
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)	31,500,000	31,200,000
Common Stock, shares outstanding (in shares)	28,800,000	28,500,000
Treasury Stock, shares (in shares)	2,700,000	2,700,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Total revenues	$ 508.1	$ 516.2	$ 1,458.9	$ 1,433
Expenses:
Direct operating	197.7	194.4	575.3	584.9
Depreciation of rental equipment	102.7	98.3	303.6	288.6
Cost of sales of rental equipment	36.7	51.1	170.2	168.9
Cost of sales of new equipment, parts and supplies	7.2	10.6	25.8	27.7
Selling, general and administrative	76.2	78.4	221.2	229.2
Restructuring	0	0	7.8	1
Interest expense, net	81.9	38.6	146.4	103
Other income, net	0.5	(0.4)	(1.8)	(0.8)
Total expenses	502.9	471	1,448.5	1,402.5
Income before income taxes	5.2	45.2	10.4	30.5
Income tax benefit	4.2	1	2	5.3
Net income	$ 9.4	$ 46.2	$ 12.4	$ 35.8
Weighted average shares outstanding:
Basic	28.7	28.5	28.7	28.4
Diluted	29.1	28.9	29.1	28.9
Earnings per share:
Basic	$ 0.33	$ 1.62	$ 0.43	$ 1.26
Diluted	$ 0.32	$ 1.60	$ 0.43	$ 1.24
Equipment rental
Revenues:
Total revenues	$ 459.6	$ 449	$ 1,244.8	$ 1,210.6
Sales of rental equipment
Revenues:
Total revenues	35.4	50.1	171.8	175.6
Sales of new equipment, parts and supplies
Revenues:
Total revenues	10	14.2	34.1	36.4
Service and other revenue
Revenues:
Total revenues	$ 3.1	$ 2.9	$ 8.2	$ 10.4

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 9.4	$ 46.2	$ 12.4	$ 35.8
Other comprehensive income (loss):
Foreign currency translation adjustments	(3.6)	8.6	5.8	(5.6)
Unrealized gains and losses on hedging instruments:
Unrealized gains (losses) on hedging instruments	(0.4)	0.2	(3.4)	3.2
Income tax benefit (provision) related to hedging instruments	(0.2)	0	(0.9)	0.8
Pension and postretirement benefit liability adjustments:
Amortization of net losses included in net periodic pension cost	0.4	0.3	1.2	0.8
Income tax provision related to defined benefit pension plans	(0.1)	(0.1)	(0.3)	(0.2)
Total other comprehensive income (loss)	(3.5)	9	4.2	(2.6)
Total comprehensive income	$ 5.9	$ 55.2	$ 16.6	$ 33.2

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (Unaudited) - USD ($) shares in Millions, $ in Millions	Total	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Beginning balance (in shares) at Dec. 31, 2017		28.3
Beginning balance at Dec. 31, 2017	$ 510.4	$ 0.3	$ 1,763.1	$ (462.4)	$ (98.6)	$ (692)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(35.8)			(35.8)
Other comprehensive loss	(2.6)				(2.6)
Net settlement on vesting of equity awards, shares		0.1
Net settlement on vesting of equity awards	(1.1)		(1.1)
Stock-based compensation charges	9.9		9.9
Employee stock purchase plan	1.4		1.4
Exercise of stock options, shares		0.1
Exercise of stock options	0.5		0.5
Ending balance at Sep. 30, 2018	554.3	$ 0.3	1,773.8	(426.6)	(101.2)	(692)
Ending balance (in shares) at Sep. 30, 2018		28.5
Beginning balance (in shares) at Jun. 30, 2018		28.5
Beginning balance at Jun. 30, 2018	495.3	$ 0.3	1,770	(472.8)	(110.2)	(692)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(46.2)			(46.2)
Other comprehensive loss	9				9
Stock-based compensation charges	3.3		3.3
Employee stock purchase plan	0.5		0.5
Ending balance at Sep. 30, 2018	554.3	$ 0.3	1,773.8	(426.6)	(101.2)	(692)
Ending balance (in shares) at Sep. 30, 2018		28.5
Beginning balance (in shares) at Dec. 31, 2018		28.5
Beginning balance at Dec. 31, 2018	572.7	$ 0.3	1,777.9	(391.1)	(122.4)	(692)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(12.4)			(12.4)
Other comprehensive loss	4.2				4.2
Net settlement on vesting of equity awards, shares		0.3
Net settlement on vesting of equity awards	(3.7)		(3.7)
Stock-based compensation charges	12.5		12.5
Employee stock purchase plan	1.8		1.8
Exercise of stock options, shares		0
Exercise of stock options	0.7		0.7
Ending balance at Sep. 30, 2019	593	$ 0.3	1,789.2	(386.3)	(118.2)	(692)
Ending balance (in shares) at Sep. 30, 2019		28.8
Beginning balance (in shares) at Jun. 30, 2019		28.7
Beginning balance at Jun. 30, 2019	583.7	$ 0.3	1,785.8	(395.7)	(114.7)	(692)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	(9.4)			(9.4)
Other comprehensive loss	(3.5)				(3.5)
Net settlement on vesting of equity awards, shares		0.1
Net settlement on vesting of equity awards	(1.7)		(1.7)
Stock-based compensation charges	4.3		4.3
Employee stock purchase plan	0.6		0.6
Exercise of stock options, shares		0
Exercise of stock options	0.2		0.2
Ending balance at Sep. 30, 2019	593	$ 0.3	$ 1,789.2	(386.3)	$ (118.2)	$ (692)
Ending balance (in shares) at Sep. 30, 2019		28.8
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of new accounting pronouncement (Note 2)	$ (7.6)			$ (7.6)

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Cash flows from operating activities:
Net income	$ 9.4	$ 46.2	$ 12.4	$ 35.8
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of rental equipment	102.7	98.3	303.6	288.6
Depreciation of property and equipment			39.3	38.2
Amortization of intangible assets			5.2	3.6
Amortization of deferred debt and financing obligations costs			4.3	4.7
Loss on extinguishment of debt	51		53.6	5.4
Stock-based compensation charges			12.5	9.9
Restructuring			5.5	0
Provision for receivables allowances			40.2	41
Deferred taxes			(5.6)	(6.4)
Gain on sale of rental equipment			(1.6)	(6.7)
Income from joint ventures			(0.3)	(1.3)
Other			5.6	8
Changes in assets and liabilities:
Receivables			(37)	(46.7)
Other assets			2.8	(2.2)
Accounts payable			(1.6)	(3.5)
Accrued liabilities and other long-term liabilities			2.3	6.6
Net cash provided by operating activities			441.2	375
Cash flows from investing activities:
Rental equipment expenditures			(506.7)	(617.5)
Proceeds from disposal of rental equipment			156.9	189.1
Non-rental capital expenditures			(34.9)	(58.5)
Proceeds from disposal of property and equipment			5	3.9
Other			4	0
Net cash used in investing activities			(375.7)	(483)
Cash flows from financing activities:
Proceeds from issuance of long-term debt			1,200	0
Repayments of long-term debt			(864.5)	(123.5)
Proceeds from revolving lines of credit and securitization			1,134.3	650.8
Repayments on revolving lines of credit and securitization			(1,465.5)	(424.5)
Proceeds from financing obligations			4.7	0	$ 6.4
Principal payments under capital lease and financing obligations			(11.9)	(13.1)
Debt redemption premium payment	(41.5)		(41.5)	(3.7)
Payment of debt financing costs			(13.3)	(1)
Proceeds from exercise of stock options			0.7	0.5
Proceeds from employee stock purchase plan			1.8	1.4
Net settlement on vesting of equity awards			(3.7)	(1.1)
Net cash used in financing activities			(58.9)	85.8
Effect of foreign exchange rate changes on cash and cash equivalents			0.1	(1.3)
Net increase in cash and cash equivalents during the period			6.7	(23.5)
Cash and cash equivalents cash at beginning of period			27.8	41.5	41.5
Cash and cash equivalents at end of period	$ 34.5	$ 18	34.5	18	$ 27.8
Supplemental disclosures of cash flow information:
Cash paid for interest, including premium payment			121.2	90.2
Cash paid for income taxes, net			0.7	12
Supplemental disclosure of non-cash investing activity:
Purchases of rental equipment in accounts payable			63.8	80.6
Non-rental capital expenditures in accounts payable			7.3	5.6
Note receivable on disposal of joint venture			$ 19	$ 0

Background

Background	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background	Background Herc Holdings Inc. ("we," "us," "our," "Herc Holdings," "the Company" or, as the context requires, "its") is one of the leading equipment rental suppliers with approximately 270 locations at September 30, 2019 , principally in North America. The Company 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 Canada and under the Hertz Equipment Rental brand in other international locations. With over 50 years of experience, the Company is a full-line equipment rental supplier offering a broad portfolio of equipment for rent. In addition to its principal business of equipment rental, the Company sells used equipment and contractor supplies such as construction consumables, tools, small equipment and safety supplies; provides repair, maintenance, equipment management services and safety training to certain of its customers; offers equipment re-rental services and provides on-site support to its customers; and provides ancillary services such as equipment transport, rental protection, cleaning, refueling and labor. The Company's classic fleet includes aerial, earthmoving, material handling, trucks and trailers, air compressors, compaction and lighting. The Company's equipment rental business is supported by ProSolutions TM , its industry-specific solutions-based services, which includes power generation, climate control, remediation and restoration, and studio and production equipment, and its ProContractor professional grade tools. On June 30, 2016, the Company, in its previous form as the holding company of both the existing equipment rental operations as well as the former vehicle rental operations (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 an independent public company that trades on the New York Stock Exchange under the symbol "HTZ" and continues to operate its global vehicle rental business through its operating subsidiaries including The Hertz Corporation ("THC"). 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.”

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Pronouncements Basis of Presentation and Recently Issued Accounting Pronouncements (Notes)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	Basis of Presentation and Recently Issued Accounting Pronouncements Basis of Presentation The Company prepares its condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"). In the opinion of management, the condensed consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. The year-end condensed consolidated balance sheet data was derived from audited financial statements, however, these condensed consolidated financial statements do not include all of the disclosures required for complete annual financial statements and, accordingly, certain information, footnotes and disclosures normally included in annual financial statements, prepared in accordance with U.S. GAAP, have been condensed or omitted in accordance with Securities and Exchange Commission ("SEC") rules and regulations. The Company believes that the disclosures made are adequate to make the information not misleading. Accordingly, the condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on February 28, 2019. 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 financial statements include receivables allowances, depreciation of rental equipment, the recoverability of long-lived assets, useful lives and impairment of long-lived tangible and intangible assets including goodwill and trade name, pension and postretirement benefits, valuation of stock-based compensation, reserves for litigation and other contingencies and accounting for income taxes, among others. Principles of Consolidation The condensed consolidated financial statements include the accounts of Herc Holdings and its wholly owned 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 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. Recently Issued Accounting Pronouncements Adopted Leases In February 2016, the Financial Accounting Standards Board ("FASB") issued new leasing guidance ("Topic 842") that replaced the existing lease guidance ("Topic 840"). Topic 842 established 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 are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This guidance also expanded 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. The Company adopted Topic 842 on its effective date of January 1, 2019 using a modified retrospective transition approach; as such, Topic 842 was not applied to periods prior and the adoption had no impact on the Company's previously reported results. The Company recognized operating lease liabilities of $165.3 million upon adoption, with corresponding ROU assets on its balance sheet. This guidance did not have a material impact on its results of operations and cash flows. The Company took advantage of the transition package of practical expedients permitted within Topic 842 which allowed the Company not to reassess (i) whether any expired or existing lease contracts are or contain leases, (ii) the historical lease classification for any expired or existing leases and (iii) initial direct costs for any existing leases. The Company has elected not to combine lease and non-lease components for its real estate leases and allocates the consideration in the contract based on relative stand-alone prices of each component. Additionally, as discussed in Note 3 , " Revenue Recognition ," most of the Company's equipment rental revenues were accounted for under Topic 840 until the adoption of Topic 842. The Company recognized a cumulative-effect adjustment to the opening balance of retained earnings related to these items of $7.6 million . The adoption of Topic 842 will not have a significant impact on future revenues. The Company also elected the practical expedient that allows lessors to treat the lease and non-lease components as a single lease component where the non-lease component would otherwise be accounted for under Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers (“Topic 606”), as timing and pattern of transfer for the lease component and non-lease components associated with that lease component are the same. Not Yet Adopted Compensation - Retirement Benefits In August 2018, the FASB issued guidance that adds, removes, and modifies disclosure requirements related to defined benefit pension and other postretirement plans in order to improve the disclosure effectiveness. The guidance is effective for fiscal years beginning after December 15, 2020 and should be applied on a retrospective basis to all periods presented, with early adoption permitted. The Company expects to adopt the new and modified disclosures requirements of this new guidance on its effective date. Fair Value Measurement In August 2018, the FASB issued new guidance that modifies disclosure requirements on fair value measurements, removing and modifying certain disclosures, while adding other disclosures. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. The Company expects to adopt the new guidance on its effective date and adoption is not expected to have a material impact on the Company's financial statement disclosures.

Revenue Recognition

Revenue Recognition	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition The Company is principally engaged in the business of renting equipment. Ancillary to the Company’s principal equipment rental business, the Company also sells used rental equipment, new equipment and parts and supplies and offers certain services to support its customers. The Company’s business is primarily focused in North America with revenue from the United States representing approximately 90.0% and 89.5% of total revenue for the three and nine months ended September 30, 2019 , respectively, compared to 89.6% and 88.7% for the same periods in 2018. The Company’s rental transactions are principally accounted for under Topic 842. Prior to the adoption of Topic 842, the Company accounted for rental transactions under Topic 840. The Company’s sale of rental and new equipment, parts and supplies along with certain services provided to customers are accounted for under Topic 606. The Company recognizes revenue when it satisfies a performance obligation by transferring control over a product or service to a customer. The amount of revenue recognized reflects the consideration the Company expects to be entitled to in exchange for such products or services. The following tables summarizes the applicable accounting guidance for the Company’s revenues for the three and nine months ended September 30, 2019 and 2018 , respectively (in millions): Three Months Ended September 30, 2019 2018 Topic 842 Topic 606 Total Topic 840 Topic 606 Total Revenues: Equipment rental $ 416.0 $ — $ 416.0 $ 404.8 $ — $ 404.8 Other rental revenue: Delivery and pick-up — 27.6 27.6 — 25.5 25.5 Other 16.0 — 16.0 18.7 — 18.7 Total other rental revenues 16.0 27.6 43.6 18.7 25.5 44.2 Total equipment rentals 432.0 27.6 459.6 423.5 25.5 449.0 Sales of rental equipment — 35.4 35.4 — 50.1 50.1 Sales of new equipment, parts and supplies — 10.0 10.0 — 14.2 14.2 Service and other revenues — 3.1 3.1 — 2.9 2.9 Total revenues $ 432.0 $ 76.1 $ 508.1 $ 423.5 $ 92.7 $ 516.2 Nine Months Ended September 30, 2019 2018 Topic 842 Topic 606 Total Topic 840 Topic 606 Total Revenues: Equipment rental $ 1,134.2 $ — $ 1,134.2 $ 1,101.6 $ — $ 1,101.6 Other rental revenue: Delivery and pick-up — 71.6 71.6 — 63.9 63.9 Other 39.0 — 39.0 45.1 — 45.1 Total other rental revenues 39.0 71.6 110.6 45.1 63.9 109.0 Total equipment rentals 1,173.2 71.6 1,244.8 1,146.7 63.9 1,210.6 Sales of rental equipment — 171.8 171.8 — 175.6 175.6 Sales of new equipment, parts and supplies — 34.1 34.1 — 36.4 36.4 Service and other revenues — 8.2 8.2 — 10.4 10.4 Total revenues $ 1,173.2 $ 285.7 $ 1,458.9 $ 1,146.7 $ 286.3 $ 1,433.0 Topic 842 revenues Equipment Rental Revenue The Company offers a broad portfolio of equipment for rent on a daily, weekly or monthly basis, with most rental agreements cancelable upon the return of the equipment. Virtually all customer contracts can be canceled by the customer with no penalty by returning the equipment within one day; therefore, the Company does not allocate the transaction price between the different contract elements. Equipment rental revenue includes revenue generated from renting equipment to customers and is recognized on a straight-line basis over the length of the rental contract. As part of this straight-line methodology, when the equipment is returned, the Company recognizes as incremental revenue the excess, if any, between the amount the customer is contractually required to pay, which is based on the rental contract period applicable to the actual number of days the equipment was out on rent, over the cumulative amount of revenue recognized to date. In any given accounting period, the Company will have customers return equipment and be contractually required to pay more than the cumulative amount of revenue recognized to date under the straight-line methodology. Also included in equipment rental revenue is re-rent revenue in which the Company will rent specific pieces of equipment from vendors and then re-rent that equipment to its customers. Provisions for discounts, rebates to customers and other adjustments are provided for in the period the related revenue is recorded. Other Other equipment rental revenue is primarily comprised of fees for the Company’s rental protection program and environmental charges. Fees paid for the rental protection program allow customers to limit the risk of financial loss in the event the Company’s equipment is damaged or lost. Fees for the rental protection program and environmental recovery fees are recognized on a straight-line basis over the length of the rental contract. Topic 606 revenues Delivery and pick-up Delivery and pick-up revenue associated with renting equipment is recognized when the services are performed. Sales of Rental Equipment, New Equipment, Parts and Supplies The Company sells its used rental equipment, new equipment, parts and supplies. Revenues recorded for each category are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Sales of rental equipment $ 35.4 $ 50.1 $ 171.8 $ 175.6 Sales of new equipment 4.8 5.1 16.0 15.5 Sales of parts and supplies 5.2 9.1 18.1 20.9 Total $ 45.4 $ 64.3 $ 205.9 $ 212.0 The Company recognizes revenue from the sale of rental equipment, new equipment, parts and supplies when control of the asset transfers to the customer, which is typically when the asset is picked up by or delivered to the customer and when significant risks and rewards of ownership have passed to the customer. Sales and other tax amounts collected from customers and remitted to government authorities are accounted for on a net basis and, therefore, excluded from revenue. The Company routinely sells its used rental equipment in order to manage repair and maintenance costs, as well as the composition, age and size of its fleet. The Company disposes of used equipment through a variety of channels including retail sales to customers and other third parties, sales to wholesalers, brokered sales and auctions. The Company also sells new equipment, parts and supplies. The types of new equipment that the Company sells vary by location and include a variety of ProContractor tools and supplies, small equipment (such as work lighting, generators, pumps, compaction equipment and power trowels), safety supplies and expendables. Under Topic 606, the accounts receivable balance, prior to allowances for doubtful accounts, for the sale of rental equipment, new equipment, parts and supplies, was approximately $16.3 million and $19.5 million as of September 30, 2019 and December 31, 2018 , respectively. Service and other revenues Service and other revenues primarily include revenue earned from equipment management and similar services for rental customers which includes providing customer support functions such as dedicated in-plant operations, plant management services, training, and repair and maintenance services particularly to industrial customers who request such services. The Company recognizes revenue for service and other revenues as the services are provided. Service and other revenues are typically invoiced together with a customer’s rental amounts and, therefore, it is not practical for the Company to separate the accounts receivable amount related to services and other revenues that are accounted for under Topic 606; however, such amount is not considered material. Receivables and contract assets and liabilities Most of the Company's equipment rental revenue is accounted for under Topic 842. The customers that are responsible for the remaining equipment rental revenue that is accounted for under Topic 606 are generally the same customers that rent the Company's equipment. Concentration of credit risk with respect to the Company's accounts receivable is limited because a large number of geographically diverse customers makes up its customer base. No single customer makes up more than 3% of the Company's equipment rental revenue or accounts receivable balance for the last three years. The Company manages credit risk associated with its accounts receivable at the customer level through credit approvals, credit limits and other monitoring procedures. The Company maintains allowances for doubtful accounts that reflect the Company's estimate of the amount of receivables that the Company will be unable to collect based on its historical write-off experience. The Company does not have material contract assets or contract liabilities associated with customer contracts. The Company's contracts with customers do not generally result in material amounts billed to customers in excess of recognizable revenue. The Company did not recognize material revenue during the three and nine months ended September 30, 2019 that was included in the contract liability balance as of the beginning of such period. Performance obligations Most of the Company's revenue recognized under Topic 606 is recognized at a point-in-time, rather than over time. Accordingly, in any particular period, the Company does not generally recognize a significant amount of revenue from performance obligations satisfied (or partially satisfied) in previous periods, and the amount of such revenue recognized during the three and nine months ended September 30, 2019 was not material. We also do not expect to recognize material revenue in the future related to performance obligations that are unsatisfied (or partially unsatisfied) as of September 30, 2019 . Contract estimates and judgments The Company's revenues accounted for under Topic 606 generally do not require significant estimates or judgments, primarily for the following reasons: • The transaction price is generally fixed and stated on the Company's contracts; • As noted above, the Company's contracts generally do not include multiple performance obligations, and accordingly do not generally require estimates of the standalone selling price for each performance obligation; • The Company's revenues do not include material amounts of variable consideration; and • Most of the Company's revenue is recognized as of a point-in-time and the timing of the satisfaction of the applicable performance obligations is readily determinable. As noted above, the revenue recognized under Topic 606 is generally recognized at the time of delivery to, or pick-up by, the customer. The Company monitors and reviews its estimated standalone selling prices on a regular basis.

Revenue Earning Equipment

Revenue Earning Equipment	9 Months Ended
	Sep. 30, 2019
Property Subject to or Available for Operating Lease, Net [Abstract]
Revenue Earning Equipment	Rental Equipment Rental equipment consists of the following (in millions): September 30, 2019 December 31, 2018 Rental equipment $ 3,993.3 $ 3,840.7 Less: Accumulated depreciation (1,368.3 ) (1,336.0 ) Rental equipment, net $ 2,625.0 $ 2,504.7

Leases (Notes)

Leases (Notes)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lessee, Finance Leases [Text Block]	Leases The Company leases real estate, office equipment and service vehicles. The Company's leases have remaining lease terms of up to 15 years , some of which include options to extend the leases for up to 20 years . The Company has included the initial lease term in the case where there are options to extend as it has determined that it is not reasonably certain that the Company would exercise those options. Leases are classified as either finance or operating at inception of the lease, with classification affecting the pattern of expense recognition in the income statement. Operating leases result in the recognition of ROU assets and lease liabilities on the balance sheet. ROU assets represent the Company's right to use the leased asset for the lease term and lease liabilities represent the obligation to make lease payments. The liability is calculated as the present value of the remaining minimum rental payments for existing operating leases using either the rate implicit in the lease or, if none exists, the Company's incremental borrowing rate. The Company's capital leases are accounted for as finance leases; no significant changes have been made for the accounting of such leases. The Company also leases certain equipment that it rents to its customers where the payments vary based upon the amount of time the equipment is on rent. There are no fixed payments on these leases and, therefore, no lease liability or ROU assets have been recorded. Leases with an initial term of 12 months or less are not recorded on the balance sheet. Lease expense for these leases is recognized on a straight-line basis over the lease term. The components of lease expense consist of the following (in millions): Classification Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost (a) Direct operating $ 25.3 $ 70.0 Finance lease cost: Amortization of ROU assets Depreciation and amortization (b) 1.8 5.5 Interest on lease liabilities Interest expense, net 0.4 1.1 Sublease income Equipment rental revenue (17.3 ) (46.4 ) Net lease cost $ 10.2 $ 30.2 (a) Includes short-term leases of $ 13.7 million and $36.8 million for the three and nine months ended September 30, 2019 , and variable lease costs of $ 0.8 million and $3.1 million for the three and nine months ended September 30, 2019 , respectively. (b) Depreciation and amortization is included with selling, general and administrative expense. During the second quarter of 2019, the Company entered into a plan of restructuring with respect to certain branches in Canada. As part of the plan, certain of its leased locations were closed and the Company recorded a ROU asset impairment of $4.8 million . Additionally, the Company recorded related leasehold improvement impairments of $0.7 million and severance charges of $2.3 million . Balance sheet information related to leases consists of the following (in millions): Classification September 30, 2019 Assets Operating lease ROU assets Right-of-use assets $ 186.8 Finance lease ROU assets Property and equipment, net (a) 52.8 Total leased assets $ 239.6 Liabilities Current Operating Current maturities of operating lease liabilities $ 30.3 Finance Current maturities of long-term debt and financing obligations 22.9 Non-current Operating Operating lease liabilities 161.5 Finance Long-term debt, net 30.1 Total lease liabilities $ 244.8 Weighted average remaining lease term Operating leases 7.4 Finance leases 5.4 Weighted average discount rate Operating leases 4.05 % Finance leases 2.97 % (a) Finance lease right-of-use assets are recorded net of accumulated amortization of $56.3 million . Cash flow information related to leases consists of the following (in millions): Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9.7 $ 29.3 Operating cash flows from finance leases 0.4 1.1 Financing cash flows from finance leases 3.0 9.3 Right-of-use assets obtained in exchange for lease obligations: Operating leases 26.9 48.4 Finance leases 24.9 27.3 Maturities of lease liabilities are as follows (in millions): Operating Leases Finance Leases 2019 $ 7.5 $ 13.2 2020 39.7 16.4 2021 33.5 5.5 2022 28.4 5.3 2023 24.3 4.8 After 2024 90.6 11.4 Total lease payments 224.0 56.6 Less: Interest (32.2 ) (3.6 ) Present value of lease liabilities $ 191.8 $ 53.0

Debt

Debt	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Debt	Debt The Company's debt consists of the following (in millions): Weighted Average Effective Interest Rate at September 30, 2019 Weighted Average Stated Interest Rate at September 30, 2019 Fixed or Floating Interest Rate Maturity September 30, December 31, Senior Notes 2027 Notes 5.61% 5.50% Fixed 2027 $ 1,200.0 $ — Senior Secured Second Priority Notes 2022 Notes N/A N/A N/A N/A — 427.0 2024 Notes N/A N/A N/A N/A — 437.5 Other Debt New ABL Credit Facility N/A 3.49% Floating 2024 752.0 — ABL Credit Facility N/A N/A N/A N/A — 1,085.2 AR Facility N/A 2.77% Floating 2020 175.0 175.0 Finance lease liabilities 2.97% N/A Fixed 2019-2027 53.0 38.1 Other borrowings N/A 4.79% Floating 2020 6.8 4.6 Unamortized Debt Issuance Costs (a) (8.1 ) (10.6 ) Total debt 2,178.7 2,156.8 Less: Current maturities of long-term debt (29.6 ) (26.9 ) Long-term debt, net $ 2,149.1 $ 2,129.9 (a) Unamortized debt issuance costs totaling $9.9 million related to the New ABL Credit Facility and AR Facility (as each is defined below) as of September 30, 2019 and $10.4 million related to the ABL Credit Facility (as defined below) and the AR Facility as of December 31, 2018 are included in "Other long-term assets" in the condensed consolidated balance sheets. The effective interest rate for the fixed rate 2027 Notes (as defined below) includes the stated interest on the notes and the amortization of any debt issuance costs. Senior Notes On July 9, 2019, the Company issued $1.2 billion aggregate principal amount of its 5.50% Senior Notes due 2027 (the “2027 Notes”). The net proceeds were used to redeem the remaining 2022 Notes and 2024 Notes (as defined below) and repay a portion of the indebtedness outstanding under the then existing ABL Credit Facility. Interest on the 2027 Notes accrues at the rate of 5.50% per annum and will be payable semi-annually in arrears on January 15 and July 15, commencing on January 15, 2020. The 2027 Notes will mature on July 15, 2027. Ranking; Guarantees The 2027 Notes are the Company’s senior unsecured obligations, ranking equally in right of payment with all of the Company’s existing and future senior indebtedness, effectively junior to any of the Company’s existing and future secured indebtedness, including the New ABL Credit Facility (as defined below), to the extent of the value of the assets securing such indebtedness, and senior in right of payment to any of the Company’s existing and future subordinated indebtedness. The 2027 Notes will be guaranteed on a senior unsecured basis, subject to limited exceptions including special purpose securitization subsidiaries, by the Company’s current and future domestic subsidiaries. Redemption The Company may redeem the 2027 Notes, in whole or in part, at any time prior to July 15, 2022, at a price equal to 100% of the aggregate principal amount thereof, plus the applicable make-whole premium and accrued and unpaid interest, if any, to, but excluding, the redemption date. The Company may redeem the 2027 Notes, in whole or in part, at any time (i) on or after July 15, 2022 and prior to July 15, 2023, at a price equal to 102.750% of the principal amount of the 2027 Notes, (ii) on or after July 15, 2023 and prior to July 15, 2024, at a price equal to 101.833% of the principal amount of the 2027 Notes, (iii) on or after July 15, 2024 and prior to July 15, 2025, at a price equal to 100.917% of the principal amount of the 2027 Notes and (iv) on or after July 15, 2025, at a price equal to 100.000% of the principal amount of the 2027 Notes, in each case, plus accrued and unpaid interest, if any, to, but not including, the applicable redemption date. In addition, at any time on or prior to July 15, 2022, the Company may, at its option, redeem up to 40% of the original aggregate principal amount of the 2027 Notes with the proceeds of one or more equity offerings at a redemption price of 105.500% of the principal amount of the 2027 Notes, plus accrued and unpaid interest, if any, to, but excluding, the date of redemption. Covenants The indenture governing the 2027 Notes contains certain covenants applicable to the Company and its restricted subsidiaries, including limitations on liens, indebtedness, mergers, consolidations and acquisitions, sales, transfers and other dispositions of assets, loans and other investments, dividends and other distributions, stock repurchases and redemptions and other restricted payments, restrictions affecting subsidiaries, transactions with affiliates and designations of unrestricted subsidiaries. Upon the occurrence of certain events constituting a change of control triggering event, the Company is required to make an offer to repurchase all of the 2027 Notes (unless otherwise redeemed) at a purchase price equal to 101% of their principal amount, plus accrued and unpaid interest, if any to (but excluding) the repurchase date. If the Company sells assets under certain circumstances, it must use the proceeds to make an offer to purchase the 2027 Notes at a price equal to 100% of their principal amount, plus accrued and unpaid interest, if any, to, but excluding, the repurchase date. Events of Default The indenture also provides for customary events of default, including the following (subject to any applicable cure period): nonpayment, breach of covenants in the indenture, payment defaults under or acceleration of certain other indebtedness, failure to discharge certain judgments and certain events of bankruptcy, insolvency and reorganization. If an event of default occurs or is continuing, the trustee or the holders of at least 30% in aggregate principal amount of the 2027 Notes then outstanding may declare the principal of, premium, if any, and accrued and unpaid interest, if any, to be due and payable immediately. 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"). In March 2017, October 2017 and July 2018, Herc drew down on its ABL Credit Facility (as defined below) and cumulatively redeemed $183.0 million in aggregate principal amount of the 2022 Notes and $187.5 million in aggregate principal amount of the 2024 Notes. On July 9, 2019, Herc redeemed the remaining $427.0 million outstanding principal amount of its 2022 Notes and the remaining $437.5 million outstanding principal amount of its 2024 Notes. The Notes were redeemed at a redemption price of 103.750% in the case of the 2022 Notes and 105.813% in the case of the 2024 Notes, plus interest accrued to, but excluding, July 9, 2019. The Company used a portion of the net proceeds from its offering of the 2027 Notes to redeem the Notes and to pay related fees and expenses. The Company recorded a loss on early extinguishment of debt of $51.0 million comprised of the cash premiums paid of $41.5 million and unamortized debt issuance costs of $9.5 million . New ABL Credit Facility On July 31, 2019, Herc Holdings, Herc and certain other subsidiaries of Herc Holdings entered into a credit agreement with respect to a new senior secured asset-based revolving credit facility (the “New ABL Credit Facility”), which refinances in full and replaces the then existing asset-based credit facility ("ABL Credit Facility") and related guarantee and collateral/security agreements. On July 31, 2019, Herc Holdings borrowed $722.0 million under the New ABL Credit Facility and repaid all amounts outstanding under the ABL Credit Facility. The New ABL Credit Facility provides (subject to availability under a borrowing base) for aggregate maximum borrowings of up to $1,750 million under a revolving loan 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. Subject to the satisfaction of certain conditions and limitations, the New ABL Credit Facility allows for the addition of incremental revolving commitments and/or incremental term loans. Maturity The New ABL Credit Facility matures on July 31, 2024. Guarantees; Collateral/Security The obligations of each of the borrowers under the New ABL Credit Facility are guaranteed by each of Herc Holdings’ direct and indirect U.S. and Canadian subsidiaries, with certain exceptions, including special purpose securitization subsidiaries. The obligations of the borrowers under the New ABL Credit Facility and the guarantees thereof are secured by security interests in substantially all of the assets of each borrower and guarantor, including pledges of all the capital stock of all of their direct subsidiaries, with certain exceptions. The liens securing the New ABL Credit Facility are subject to certain exceptions. Also, subject to certain limitations and conditions, the New ABL Credit Facility permits the incurrence of future secured debt on a basis either pari passu with, or subordinated to, the liens securing the New ABL Credit Facility. Interest The interest rates applicable to any loans under the New ABL Credit Facility are based, at the option of the borrowers, on (i) a floating rate based on LIBOR (for loans denominated in U.S. dollars) or CDOR (for loans denominated in Canadian dollars) plus an initial margin of 1.50% per annum or (ii) a base rate plus an initial margin of 0.50%, in each case, where margin is adjusted under the New ABL Credit Facility based on the quarterly average excess availability under the New ABL Credit Facility. Covenants The New ABL Credit Facility contains a number of covenants that, among other things, limit or restrict the ability of the borrowers and their subsidiaries to incur additional indebtedness, prepay other indebtedness, make dividends and other restricted payments, create or incur liens, make acquisitions and other investments, engage in mergers, consolidations or sales of assets, engage in certain transactions with affiliates, and enter into certain restrictive agreements limiting the ability to create or incur liens. In addition, under the New ABL Credit Facility, upon excess availability falling below certain levels, the borrowers will be required to comply with a minimum fixed charge coverage ratio of no less than 1.00 :1.00. Events of Default The New ABL Credit Facility provides that the occurrence of any of the following events will constitute an event of default: payment default, breach of representation or warranty, covenant breach, cross default to other material indebtedness, certain bankruptcy events, dissolution, invalidity of the credit agreement or any intercreditor agreement (if any), judgment in excess of a certain monetary threshold, any security or guarantee documents cease to be in effect, an ERISA event, pension event or a change of control. Upon the occurrence and during the continuation of an event of default, the agent may exercise remedies on behalf of the lenders, including accelerating the repayment of outstanding loans under the New ABL Credit Facility. ABL Credit Facility The Company's ABL Credit Facility, executed by its Herc subsidiary, provided 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, that had a maturity date of June 30, 2021. Up to $250 million of the revolving loan facility was available for the issuance of letters of credit, subject to certain conditions including issuing lender participation. On July 31, 2019, Herc Holdings borrowed $722.0 million under the New ABL Credit Facility and repaid all amounts outstanding under the ABL Credit Facility. The Company recorded a loss on early extinguishment of debt of $2.6 million comprised of unamortized debt issuance costs. Accounts Receivable Securitization Facility In September 2018, the Company entered into an accounts receivable securitization facility (the "AR Facility") with aggregate commitments of $175 million that matures on September 16, 2020. In connection with the AR Facility, Herc and one of its wholly-owned subsidiaries sell their accounts receivables on an ongoing basis to Herc Receivables U.S. LLC, a wholly-owned special-purpose entity (the "SPE"). The SPE's sole business consists of the purchase by the SPE of accounts receivable from Herc and the Herc subsidiary seller and borrowing by the SPE against the eligible accounts receivable from the lenders under the facility. The borrowings are secured by liens on the accounts receivable and other assets of the SPE. Collections on the accounts receivable are used to service the borrowings. The SPE is a separate legal entity that is consolidated in the Company's financial statements. The SPE assets are owned by the SPE and are not available to settle the obligations of the Company or any of its other subsidiaries. Herc is the servicer of the accounts receivable under the AR Facility. All of the obligations of the Herc subsidiary seller and the servicer and certain indemnification obligations of the SPE under the agreements governing the AR Facility are guaranteed by Herc pursuant to a performance guarantee. The AR Facility is excluded from current maturities of long-term debt as the Company has the intent and ability to consummate refinancing and extend the term of the agreement. Other Borrowings The Company's subsidiary in China has uncommitted credit agreements for up to an aggregate principal amount of $10.0 million . Interest accrues on the loans drawn under these facilities at a rate of 110% of the prevailing base lending rates published by People's Bank of China and is payable quarterly. As of September 30, 2019, the Company had short-term borrowings under these facilities totaling $6.8 million . Borrowing Capacity and Availability After outstanding borrowings, the following was available to the Company under the New ABL Credit Facility and AR Facility as of September 30, 2019 (in millions): Remaining Capacity Availability Under Borrowing Base Limitation New ABL Credit Facility $ 976.5 $ 976.5 AR Facility — — Total $ 976.5 $ 976.5 In addition, as of September 30, 2019, the Company's subsidiary in China had uncommitted credit facilities of which $3.2 million was available for borrowing. Letters of Credit As of September 30, 2019, $21.5 million of standby letters of credit were issued and outstanding, none of which have been drawn upon. The New ABL Credit Facility had $228.5 million available under the letter of credit facility sublimit, subject to borrowing base restrictions.

Financing Obligations

Financing Obligations	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Financing Obligations	Financing Obligations In October 2017, Herc consummated a sale-leaseback transaction pursuant to which it sold 42 of its properties located in the U.S. for gross proceeds of approximately $119.5 million , and during the fourth quarter of 2018, entered into sale-leaseback transactions with respect to two additional properties for gross proceeds of $6.4 million . Herc entered into a master lease agreement pursuant to which it has continued operations at those properties as a tenant. The triple net lease agreement has an initial term of 20 years, subject to extension, at Herc's option, for up to five additional periods of five years each. The sale of the properties did not qualify for sale-leaseback accounting due to continuing involvement with the properties. Therefore, the book value of the buildings and land remains on the Company's consolidated balance sheet. During March 2019, Herc entered into a sale-leaseback transaction for certain service vehicles that did not qualify for sale-leaseback accounting, therefore the book value of the vehicles remains on the Company's consolidated balance sheet. Gross proceeds from the sale-leaseback transaction were $4.7 million . The Company's financing obligations consist of the following (in millions): Weighted Average Effective Interest Rate at September 30, 2019 Maturities September 30, 2019 December 31, 2018 Financing obligations 4.89% 2026-2038 $ 124.2 $ 122.1 Unamortized financing issuance costs (2.6 ) (2.8 ) Total financing obligations 121.6 119.3 Less: Current maturities of financing obligations (3.4 ) (3.0 ) Financing obligations, net $ 118.2 $ 116.3

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax benefit was $4.2 million and $2.0 million for the three and nine months ended September 30, 2019 , respectively, which were primarily driven by an income tax benefit of approximately $6.3 million related to the debt transactions described in Note 6 , " Debt ", partially offset by the level of pre-tax income, non-deductible expenses, foreign taxes and taxes related to foreign sourced income. Income tax benefit was $1.0 million and $5.3 million for the three and nine months ended September 30, 2018, respectively, as a result of the reduction in the Company's estimate of its one-time transition tax determined in accordance with the Tax Cuts and Jobs Act of 2017 by $24.5 million , resulting in a net $14.8 million benefit after consideration of the Company's net operating loss carryforwards. The Company's estimate was finalized at December 31, 2018. The tax benefit was partially offset by the level of pre-tax income, non-deductible expenses, foreign taxes and taxes related to foreign sourced income.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2019
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, 2019 are presented in the table below (in millions). Pension and Other Post-Employment Benefits Unrealized Gains (Loss) on Hedging Instruments Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2018 $ (18.7 ) $ 2.7 $ (106.4 ) $ (122.4 ) Other comprehensive income (loss) before reclassification — (2.5 ) 5.8 3.3 Amounts reclassified from accumulated other comprehensive loss 0.9 — — 0.9 Net current period other comprehensive income (loss) 0.9 (2.5 ) 5.8 4.2 Balance at September 30, 2019 $ (17.8 ) $ 0.2 $ (100.6 ) $ (118.2 ) Amounts reclassified from accumulated other comprehensive income (loss) to net loss were as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, Pension and other postretirement benefit plans Statement of Operations Caption 2019 2018 2019 2018 Amortization of actuarial losses Selling, general and administrative $ 0.4 $ 0.3 $ 1.2 $ 0.8 Tax benefit Income tax benefit (0.1 ) (0.1 ) (0.3 ) (0.2 ) Total reclassifications for the period $ 0.3 $ 0.2 $ 0.9 $ 0.6

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Legal Proceedings In re Hertz Global Holdings, Inc. Securities Litigation - In November 2013, a putative 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 Hertz Holdings and certain of its officers as defendants and alleging violations of the federal securities laws. The complaint alleged that Hertz Holdings made material misrepresentations and/or omission 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 unspecified monetary damages on behalf of the purported class and an award of costs and expenses, including counsel fees and expert fees. In June 2014, Hertz Holdings moved to dismiss the amended complaint. In October 2014, the court granted Hertz Holdings’ motion to dismiss without prejudice, allowing the plaintiff to amend the complaint a second time. In November 2014, plaintiff filed a second amended complaint which shortened the putative class period and made allegations that were not substantively very different than the allegations in the prior complaint. In early 2015, Hertz Holdings moved to dismiss the second amended complaint. In July 2015, the court granted Hertz Holdings’ motion to dismiss without prejudice, allowing plaintiff to file a third amended complaint. In August 2015, plaintiff filed a third amended complaint which included additional allegations, named additional then-current and former officers as defendants and expanded the putative class period to extend from February 14, 2013 to July 16, 2015. In November 2015, Hertz Holdings moved to dismiss the third amended complaint. The plaintiff then sought leave to add a new plaintiff because of challenges to the standing of the first plaintiff. The court granted plaintiff leave to file a fourth amended complaint to add the new plaintiff, and the new complaint was filed on March 1, 2016. Hertz Holdings and the individual defendants moved to dismiss the fourth amended complaint with prejudice on March 24, 2016. In April 2017, the court granted Hertz Holdings' and the individual defendants' motions to dismiss and dismissed the action with prejudice. In May 2017, plaintiff filed a notice of appeal and, in June 2018, oral argument was conducted before the U.S. Court of Appeals for the Third Circuit. In September 2018, the court affirmed the dismissal of the action with prejudice. On February 5, 2019, plaintiff filed a motion to set aside the judgment against it, and for leave to file a fifth amended complaint. The proposed amended complaint would add allegations related to New Hertz’s December 31, 2018 settlement with the SEC that, among other things, ordered New Hertz to cease and desist from violating certain of the federal securities laws and imposed a civil penalty of $16.0 million . On February 26, 2019, New Hertz filed an opposition to plaintiff’s motion for relief from judgment and leave to file a fifth amended complaint. On March 8, 2019, plaintiff filed a reply in support of that motion. On September 30, 2019, the court denied plaintiff’s motion for relief from judgment and leave to file a fifth amended complaint. 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 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 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 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 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 or assets or a financial transaction. These indemnification obligations might include claims relating to the following: accuracy of representations; compliance with covenants and agreements by the Company or third parties; environmental matters; intellectual property rights; governmental regulations; employment-related matters; customer, supplier and other commercial contractual relationships; condition of assets; and financial or other 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 consolidated financial statements. As of September 30, 2019 and December 31, 2018 , the aggregate amounts accrued for environmental liabilities, including liability for environmental indemnities, reflected in the Company's consolidated 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). Guarantee The Company has guaranteed an outstanding bank loan in connection with a previous joint venture. The Company has determined the maximum potential payment amount under the guarantee is approximately $7.7 million ; however, the probability of any payment is remote and therefore the Company has not recorded a liability on its balance sheet as of September 30, 2019

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2019
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 and interest 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. Interest Rate Swap Arrangement In March 2017, the Company entered into a three -year LIBOR-based interest rate swap arrangement on a portion of its outstanding ABL Credit Facility and, subsequent to the debt transactions discussed in Note 6 , " Debt ", the New ABL Credit Facility. The aggregate amount of the swap is equal to a portion of the U.S. dollar principal amount of the New ABL Credit Facility and the payment dates of the swap coincide with the interest payment dates of the New ABL Credit Facility. The swap contract provides for the Company to pay a fixed interest rate and receive a floating rate. The variable interest rate resets monthly. The swap has been accounted for as a cash flow hedge of a portion of the New ABL Credit Facility. The following table summarizes the outstanding interest rate swap arrangement as of September 30, 2019 (dollars in millions): Aggregate Notional Amount Receive Rate Receive Rate Pay Rate New ABL Credit Facility $ 350.0 1-month LIBOR + 1.50% 3.5 % 3.2 % The following table summarizes the estimated fair value of the Company's financial instruments (in millions): Fair Value of Financial Instruments September 30, 2019 December 31, 2018 Other Current Assets Accrued Liabilities Other Long-Term Assets Accrued Liabilities Derivatives Designated as Hedging Instruments Interest rate swap $ 0.2 $ — $ 3.6 $ — The following table summarizes the gains and losses on derivative instruments for the periods indicated. Gains and losses recognized on foreign currency forward contracts and the effective portion of interest rate swaps are included in the condensed consolidated statements of operations together with the corresponding offsetting gains and losses on the underlying hedged transactions. All gains and losses recognized are included in "Selling, general and administrative" in the condensed consolidated statements of operations (in millions). Gain Recognized Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Derivatives Not Designated as Hedging Instruments Foreign currency forward contracts $ — $ — $ — $ 0.2

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2019
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 Cash equivalents, when held, primarily consist of money market accounts which are classified as Level 1 assets which the Company measures 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, 2019 or December 31, 2018 . Financial Instruments The fair value of the Company's financial instruments as of September 30, 2019 and December 31, 2018 is 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 values of the Company's New ABL Credit Facility, ABL Credit Facility, AR Facility, finance lease liabilities and other borrowings approximated their book values as of September 30, 2019 and December 31, 2018 . The fair value of the Company's 2027 Notes, 2022 Notes and 2024 Notes are 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, 2019 December 31, 2018 Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value 2027 Notes $ 1,200.0 $ 1,248.0 $ — $ — 2022 Notes and 2024 Notes — — 864.5 901.2

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share Basic earnings per share has been computed based upon the weighted average number of common shares outstanding. Diluted 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. The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share data). Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Basic and diluted earnings per share: Numerator: Net income, basic and diluted $ 9.4 $ 46.2 $ 12.4 $ 35.8 Denominator: Basic weighted average common shares 28.7 28.5 28.7 28.4 Stock options, RSUs and PSUs 0.4 0.4 0.4 0.5 Weighted average shares used to calculate diluted earnings (loss) per share 29.1 28.9 29.1 28.9 Earnings per share: Basic $ 0.33 $ 1.62 $ 0.43 $ 1.26 Diluted $ 0.32 $ 1.60 $ 0.43 $ 1.24 Antidilutive stock options, RSUs and PSUs 0.2 0.2 0.3 0.2

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Agreements with Carl C. Icahn The Company is subject to the Nomination and Standstill Agreement, dated September 15, 2014 (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"). In connection with their appointments or nomination, as applicable, to the Company’s board of directors (the "Board"), each of Courtney Mather, Louis J. Pastor, Stephen A. Mongillo, Nicholas F. Graziano and Jonathan Frates (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, together with the Nomination and Standstill Agreement, are collectively referred to herein as the "Icahn Agreements"). Pursuant to the Icahn Agreements, Messrs. Mather, Pastor and Mongillo were appointed to the Company’s Board effective June 30, 2016, Mr. Graziano was elected to the Board at the Company's 2018 annual meeting of stockholders in place of Mr. Mongillo and Mr. Frates was appointed to the Board on August 16, 2019 to replace Mr. Mather, who resigned from the Board effective August 15, 2019. Pursuant to the Icahn Agreements, so long as an Icahn Designee is a member of the Board, the Board will not be expanded beyond its current size of 11 members without approval from the Icahn Designees then on the Board. 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 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, and, subject to limited exceptions, the Icahn Group further agrees to (i) adhere to certain standstill obligations, including the obligation to not solicit proxies or consents or influence others with respect to the same, and (ii) not acquire or otherwise beneficially own more than 20% of the Company’s outstanding voting securities. Under the Icahn Agreements, if the Icahn Group ceases to hold a “net long position,” as defined in the Nomination and Standstill Agreement, in at least 1,900,000 shares of the Company’s common stock, the Icahn Group will cause one Icahn Designee to resign from the Board; if the Icahn Group’s holdings are further reduced to specified levels, additional Icahn Designees are required to resign. 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. 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 continues 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 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 including (i) the manner in which legal matters and claims are allocated and certain liabilities are shared between the Company and New Hertz; (ii) other matters including transfers of assets and liabilities, treatment or termination of intercompany arrangements and releases of certain claims between the parties and their affiliates; (iii) mutual indemnification clauses; and (iv) allocation of Spin-Off expenses between the parties. Transition Services Agreement The Company entered into a transition services agreement ("TSA"), pursuant to which New Hertz or its affiliates provided, during the three and nine months ended September 30, 2018 , specified services, primarily consisting of IT support, to the Company on a transitional basis to help ensure an orderly transition following the Spin-Off. During the three and nine months ended September 30, 2018 , the Company incurred expenses of $0.6 million and $6.3 million , respectively, under the TSA which are included in "Direct operating" and "Selling, general and administrative" expenses in the Company's condensed consolidated statements of operations. Effective upon the migration of the Company’s financial systems from the New Hertz system to a stand-alone system in July 2018, the Company receives no further services from New Hertz under the TSA. Tax Matters Agreement The Company entered into a 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 to allocate liabilities and responsibilities relating to employment matters, employee compensation, benefit plans and programs and other related 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 Spin-Off.

Arrangements With New Hertz

Arrangements With New Hertz	9 Months Ended
	Sep. 30, 2019
Restructuring and Related Activities [Abstract]
Arrangements With New Hertz	Related Party Transactions Agreements with Carl C. Icahn The Company is subject to the Nomination and Standstill Agreement, dated September 15, 2014 (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"). In connection with their appointments or nomination, as applicable, to the Company’s board of directors (the "Board"), each of Courtney Mather, Louis J. Pastor, Stephen A. Mongillo, Nicholas F. Graziano and Jonathan Frates (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, together with the Nomination and Standstill Agreement, are collectively referred to herein as the "Icahn Agreements"). Pursuant to the Icahn Agreements, Messrs. Mather, Pastor and Mongillo were appointed to the Company’s Board effective June 30, 2016, Mr. Graziano was elected to the Board at the Company's 2018 annual meeting of stockholders in place of Mr. Mongillo and Mr. Frates was appointed to the Board on August 16, 2019 to replace Mr. Mather, who resigned from the Board effective August 15, 2019. Pursuant to the Icahn Agreements, so long as an Icahn Designee is a member of the Board, the Board will not be expanded beyond its current size of 11 members without approval from the Icahn Designees then on the Board. 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 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, and, subject to limited exceptions, the Icahn Group further agrees to (i) adhere to certain standstill obligations, including the obligation to not solicit proxies or consents or influence others with respect to the same, and (ii) not acquire or otherwise beneficially own more than 20% of the Company’s outstanding voting securities. Under the Icahn Agreements, if the Icahn Group ceases to hold a “net long position,” as defined in the Nomination and Standstill Agreement, in at least 1,900,000 shares of the Company’s common stock, the Icahn Group will cause one Icahn Designee to resign from the Board; if the Icahn Group’s holdings are further reduced to specified levels, additional Icahn Designees are required to resign. 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. 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 continues 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 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 including (i) the manner in which legal matters and claims are allocated and certain liabilities are shared between the Company and New Hertz; (ii) other matters including transfers of assets and liabilities, treatment or termination of intercompany arrangements and releases of certain claims between the parties and their affiliates; (iii) mutual indemnification clauses; and (iv) allocation of Spin-Off expenses between the parties. Transition Services Agreement The Company entered into a transition services agreement ("TSA"), pursuant to which New Hertz or its affiliates provided, during the three and nine months ended September 30, 2018 , specified services, primarily consisting of IT support, to the Company on a transitional basis to help ensure an orderly transition following the Spin-Off. During the three and nine months ended September 30, 2018 , the Company incurred expenses of $0.6 million and $6.3 million , respectively, under the TSA which are included in "Direct operating" and "Selling, general and administrative" expenses in the Company's condensed consolidated statements of operations. Effective upon the migration of the Company’s financial systems from the New Hertz system to a stand-alone system in July 2018, the Company receives no further services from New Hertz under the TSA. Tax Matters Agreement The Company entered into a 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 to allocate liabilities and responsibilities relating to employment matters, employee compensation, benefit plans and programs and other related 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 Spin-Off.

Basis of Presentation and Rec_2

Basis of Presentation and Recently Issued Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The Company prepares its condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America ("U.S. GAAP"). In the opinion of management, the condensed consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair statement of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. The year-end condensed consolidated balance sheet data was derived from audited financial statements, however, these condensed consolidated financial statements do not include all of the disclosures required for complete annual financial statements and, accordingly, certain information, footnotes and disclosures normally included in annual financial statements, prepared in accordance with U.S. GAAP, have been condensed or omitted in accordance with Securities and Exchange Commission ("SEC") rules and regulations. The Company believes that the disclosures made are adequate to make the information not misleading. Accordingly, the condensed consolidated financial statements should be read in conjunction with the Company's audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018, filed with the SEC on February 28, 2019. 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 financial statements include receivables allowances, depreciation of rental equipment, the recoverability of long-lived assets, useful lives and impairment of long-lived tangible and intangible assets including goodwill and trade name, pension and postretirement benefits, valuation of stock-based compensation, reserves for litigation and other contingencies and accounting for income taxes, among others.
Principles of Consolidation	Principles of Consolidation
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Adopted Leases In February 2016, the Financial Accounting Standards Board ("FASB") issued new leasing guidance ("Topic 842") that replaced the existing lease guidance ("Topic 840"). Topic 842 established 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 are classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This guidance also expanded 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. The Company adopted Topic 842 on its effective date of January 1, 2019 using a modified retrospective transition approach; as such, Topic 842 was not applied to periods prior and the adoption had no impact on the Company's previously reported results. The Company recognized operating lease liabilities of $165.3 million upon adoption, with corresponding ROU assets on its balance sheet. This guidance did not have a material impact on its results of operations and cash flows. The Company took advantage of the transition package of practical expedients permitted within Topic 842 which allowed the Company not to reassess (i) whether any expired or existing lease contracts are or contain leases, (ii) the historical lease classification for any expired or existing leases and (iii) initial direct costs for any existing leases. The Company has elected not to combine lease and non-lease components for its real estate leases and allocates the consideration in the contract based on relative stand-alone prices of each component. Additionally, as discussed in Note 3 , " Revenue Recognition ," most of the Company's equipment rental revenues were accounted for under Topic 840 until the adoption of Topic 842. The Company recognized a cumulative-effect adjustment to the opening balance of retained earnings related to these items of $7.6 million . The adoption of Topic 842 will not have a significant impact on future revenues. The Company also elected the practical expedient that allows lessors to treat the lease and non-lease components as a single lease component where the non-lease component would otherwise be accounted for under Accounting Standards Codification ("ASC") Topic 606, Revenue from Contracts with Customers (“Topic 606”), as timing and pattern of transfer for the lease component and non-lease components associated with that lease component are the same. Not Yet Adopted Compensation - Retirement Benefits In August 2018, the FASB issued guidance that adds, removes, and modifies disclosure requirements related to defined benefit pension and other postretirement plans in order to improve the disclosure effectiveness. The guidance is effective for fiscal years beginning after December 15, 2020 and should be applied on a retrospective basis to all periods presented, with early adoption permitted. The Company expects to adopt the new and modified disclosures requirements of this new guidance on its effective date. Fair Value Measurement In August 2018, the FASB issued new guidance that modifies disclosure requirements on fair value measurements, removing and modifying certain disclosures, while adding other disclosures. The guidance is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019, with early adoption permitted. The Company expects to adopt the new guidance on its effective date and adoption is not expected to have a material impact on the Company's financial statement disclosures.

Revenue Recognition (Tables)

Revenue Recognition (Tables)	9 Months Ended
	Sep. 30, 2019
Revenue from Contract with Customer [Abstract]
Schedule of Prospective Adoption of New Accounting Pronouncements	The following tables summarizes the applicable accounting guidance for the Company’s revenues for the three and nine months ended September 30, 2019 and 2018 , respectively (in millions): Three Months Ended September 30, 2019 2018 Topic 842 Topic 606 Total Topic 840 Topic 606 Total Revenues: Equipment rental $ 416.0 $ — $ 416.0 $ 404.8 $ — $ 404.8 Other rental revenue: Delivery and pick-up — 27.6 27.6 — 25.5 25.5 Other 16.0 — 16.0 18.7 — 18.7 Total other rental revenues 16.0 27.6 43.6 18.7 25.5 44.2 Total equipment rentals 432.0 27.6 459.6 423.5 25.5 449.0 Sales of rental equipment — 35.4 35.4 — 50.1 50.1 Sales of new equipment, parts and supplies — 10.0 10.0 — 14.2 14.2 Service and other revenues — 3.1 3.1 — 2.9 2.9 Total revenues $ 432.0 $ 76.1 $ 508.1 $ 423.5 $ 92.7 $ 516.2 Nine Months Ended September 30, 2019 2018 Topic 842 Topic 606 Total Topic 840 Topic 606 Total Revenues: Equipment rental $ 1,134.2 $ — $ 1,134.2 $ 1,101.6 $ — $ 1,101.6 Other rental revenue: Delivery and pick-up — 71.6 71.6 — 63.9 63.9 Other 39.0 — 39.0 45.1 — 45.1 Total other rental revenues 39.0 71.6 110.6 45.1 63.9 109.0 Total equipment rentals 1,173.2 71.6 1,244.8 1,146.7 63.9 1,210.6 Sales of rental equipment — 171.8 171.8 — 175.6 175.6 Sales of new equipment, parts and supplies — 34.1 34.1 — 36.4 36.4 Service and other revenues — 8.2 8.2 — 10.4 10.4 Total revenues $ 1,173.2 $ 285.7 $ 1,458.9 $ 1,146.7 $ 286.3 $ 1,433.0
Disaggregation of Revenue	Revenues recorded for each category are as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Sales of rental equipment $ 35.4 $ 50.1 $ 171.8 $ 175.6 Sales of new equipment 4.8 5.1 16.0 15.5 Sales of parts and supplies 5.2 9.1 18.1 20.9 Total $ 45.4 $ 64.3 $ 205.9 $ 212.0

Revenue Earning Equipment (Tabl

Revenue Earning Equipment (Tables)	9 Months Ended
	Sep. 30, 2019
Property Subject to or Available for Operating Lease, Net [Abstract]
Components of Revenue Earning Equipment	Rental equipment consists of the following (in millions): September 30, 2019 December 31, 2018 Rental equipment $ 3,993.3 $ 3,840.7 Less: Accumulated depreciation (1,368.3 ) (1,336.0 ) Rental equipment, net $ 2,625.0 $ 2,504.7

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Lease, Cost [Table Text Block]	The components of lease expense consist of the following (in millions): Classification Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Operating lease cost (a) Direct operating $ 25.3 $ 70.0 Finance lease cost: Amortization of ROU assets Depreciation and amortization (b) 1.8 5.5 Interest on lease liabilities Interest expense, net 0.4 1.1 Sublease income Equipment rental revenue (17.3 ) (46.4 ) Net lease cost $ 10.2 $ 30.2 (a) Includes short-term leases of $ 13.7 million and $36.8 million for the three and nine months ended September 30, 2019 , and variable lease costs of $ 0.8 million and $3.1 million for the three and nine months ended September 30, 2019 , respectively. (b) Depreciation and amortization is included with selling, general and administrative expense.
AssetsandLiabilitiesLesseeTableTextBlock [Table Text Block]	Balance sheet information related to leases consists of the following (in millions): Classification September 30, 2019 Assets Operating lease ROU assets Right-of-use assets $ 186.8 Finance lease ROU assets Property and equipment, net (a) 52.8 Total leased assets $ 239.6 Liabilities Current Operating Current maturities of operating lease liabilities $ 30.3 Finance Current maturities of long-term debt and financing obligations 22.9 Non-current Operating Operating lease liabilities 161.5 Finance Long-term debt, net 30.1 Total lease liabilities $ 244.8 Weighted average remaining lease term Operating leases 7.4 Finance leases 5.4 Weighted average discount rate Operating leases 4.05 % Finance leases 2.97 % (a) Finance lease right-of-use assets are recorded net of accumulated amortization of $56.3 million .
CashFlowLesseeTableTextBlock [Table Text Block]	Cash flow information related to leases consists of the following (in millions): Three Months Ended September 30, 2019 Nine Months Ended September 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 9.7 $ 29.3 Operating cash flows from finance leases 0.4 1.1 Financing cash flows from finance leases 3.0 9.3 Right-of-use assets obtained in exchange for lease obligations: Operating leases 26.9 48.4 Finance leases 24.9 27.3
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Maturities of lease liabilities are as follows (in millions): Operating Leases Finance Leases 2019 $ 7.5 $ 13.2 2020 39.7 16.4 2021 33.5 5.5 2022 28.4 5.3 2023 24.3 4.8 After 2024 90.6 11.4 Total lease payments 224.0 56.6 Less: Interest (32.2 ) (3.6 ) Present value of lease liabilities $ 191.8 $ 53.0

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Debt	The Company's debt consists of the following (in millions): Weighted Average Effective Interest Rate at September 30, 2019 Weighted Average Stated Interest Rate at September 30, 2019 Fixed or Floating Interest Rate Maturity September 30, December 31, Senior Notes 2027 Notes 5.61% 5.50% Fixed 2027 $ 1,200.0 $ — Senior Secured Second Priority Notes 2022 Notes N/A N/A N/A N/A — 427.0 2024 Notes N/A N/A N/A N/A — 437.5 Other Debt New ABL Credit Facility N/A 3.49% Floating 2024 752.0 — ABL Credit Facility N/A N/A N/A N/A — 1,085.2 AR Facility N/A 2.77% Floating 2020 175.0 175.0 Finance lease liabilities 2.97% N/A Fixed 2019-2027 53.0 38.1 Other borrowings N/A 4.79% Floating 2020 6.8 4.6 Unamortized Debt Issuance Costs (a) (8.1 ) (10.6 ) Total debt 2,178.7 2,156.8 Less: Current maturities of long-term debt (29.6 ) (26.9 ) Long-term debt, net $ 2,149.1 $ 2,129.9 (a) Unamortized debt issuance costs totaling $9.9 million related to the New ABL Credit Facility and AR Facility (as each is defined below) as of September 30, 2019 and $10.4 million related to the ABL Credit Facility (as defined below) and the AR Facility as of December 31, 2018 are included in "Other long-term assets" in the condensed consolidated balance sheets.
Borrowing Capacity and Availability on Line of Credit	After outstanding borrowings, the following was available to the Company under the New ABL Credit Facility and AR Facility as of September 30, 2019 (in millions): Remaining Capacity Availability Under Borrowing Base Limitation New ABL Credit Facility $ 976.5 $ 976.5 AR Facility — — Total $ 976.5 $ 976.5

Financing Obligations (Tables)

Financing Obligations (Tables)	9 Months Ended
	Sep. 30, 2019
Leases [Abstract]
Capital Leases in Financial Statements of Lessee Disclosure	The Company's financing obligations consist of the following (in millions): Weighted Average Effective Interest Rate at September 30, 2019 Maturities September 30, 2019 December 31, 2018 Financing obligations 4.89% 2026-2038 $ 124.2 $ 122.1 Unamortized financing issuance costs (2.6 ) (2.8 ) Total financing obligations 121.6 119.3 Less: Current maturities of financing obligations (3.4 ) (3.0 ) Financing obligations, net $ 118.2 $ 116.3

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2019
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, 2019 are presented in the table below (in millions). Pension and Other Post-Employment Benefits Unrealized Gains (Loss) on Hedging Instruments Foreign Currency Items Accumulated Other Comprehensive Income (Loss) Balance at December 31, 2018 $ (18.7 ) $ 2.7 $ (106.4 ) $ (122.4 ) Other comprehensive income (loss) before reclassification — (2.5 ) 5.8 3.3 Amounts reclassified from accumulated other comprehensive loss 0.9 — — 0.9 Net current period other comprehensive income (loss) 0.9 (2.5 ) 5.8 4.2 Balance at September 30, 2019 $ (17.8 ) $ 0.2 $ (100.6 ) $ (118.2 )
Reclassification out of Accumulated Other Comprehensive Income	Amounts reclassified from accumulated other comprehensive income (loss) to net loss were as follows (in millions): Three Months Ended September 30, Nine Months Ended September 30, Pension and other postretirement benefit plans Statement of Operations Caption 2019 2018 2019 2018 Amortization of actuarial losses Selling, general and administrative $ 0.4 $ 0.3 $ 1.2 $ 0.8 Tax benefit Income tax benefit (0.1 ) (0.1 ) (0.3 ) (0.2 ) Total reclassifications for the period $ 0.3 $ 0.2 $ 0.9 $ 0.6

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of Outstanding Interest Rate Swap Arrangement	The following table summarizes the outstanding interest rate swap arrangement as of September 30, 2019 (dollars in millions): Aggregate Notional Amount Receive Rate Receive Rate Pay Rate New ABL Credit Facility $ 350.0 1-month LIBOR + 1.50% 3.5 % 3.2 %
Estimated Fair Value of Financial Instruments	The following table summarizes the estimated fair value of the Company's financial instruments (in millions): Fair Value of Financial Instruments September 30, 2019 December 31, 2018 Other Current Assets Accrued Liabilities Other Long-Term Assets Accrued Liabilities Derivatives Designated as Hedging Instruments Interest rate swap $ 0.2 $ — $ 3.6 $ —
Derivative Instruments, Gain (Loss)	The following table summarizes the gains and losses on derivative instruments for the periods indicated. Gains and losses recognized on foreign currency forward contracts and the effective portion of interest rate swaps are included in the condensed consolidated statements of operations together with the corresponding offsetting gains and losses on the underlying hedged transactions. All gains and losses recognized are included in "Selling, general and administrative" in the condensed consolidated statements of operations (in millions). Gain Recognized Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Derivatives Not Designated as Hedging Instruments Foreign currency forward contracts $ — $ — $ — $ 0.2

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Fair Value of Debt	The fair value of the Company's 2027 Notes, 2022 Notes and 2024 Notes are 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, 2019 December 31, 2018 Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value 2027 Notes $ 1,200.0 $ 1,248.0 $ — $ — 2022 Notes and 2024 Notes — — 864.5 901.2

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	9 Months Ended
	Sep. 30, 2019
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted earnings per share (in millions, except per share data). Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Basic and diluted earnings per share: Numerator: Net income, basic and diluted $ 9.4 $ 46.2 $ 12.4 $ 35.8 Denominator: Basic weighted average common shares 28.7 28.5 28.7 28.4 Stock options, RSUs and PSUs 0.4 0.4 0.4 0.5 Weighted average shares used to calculate diluted earnings (loss) per share 29.1 28.9 29.1 28.9 Earnings per share: Basic $ 0.33 $ 1.62 $ 0.43 $ 1.26 Diluted $ 0.32 $ 1.60 $ 0.43 $ 1.24 Antidilutive stock options, RSUs and PSUs 0.2 0.2 0.3 0.2

Background (Details)

Background (Details)	9 Months Ended
	Sep. 30, 2019company_operated_branch
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Company owned locations	270

Basis of Presentation and Rec_3

Basis of Presentation and Recently Issued Accounting Pronouncements - Narrative (Details) $ in Millions	Sep. 30, 2019USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Present value of lease liabilities	$ 191.8
Cumulative Effect of New Accounting Principle in Period of Adoption	7.6
Topic 842
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Present value of lease liabilities	$ 165.3

Revenue Recognition - Narrative

Revenue Recognition - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
UNITED STATES
Concentration Risk [Line Items]
Concentration Risk, Percentage	90.00%	89.60%	89.50%	88.70%
Topic 606
Concentration Risk [Line Items]
Accounts receivable	$ 16.3		$ 16.3		$ 19.5

Revenue Recognition - Applicabl

Revenue Recognition - Applicable Accounting Guidance for Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Equipment rental	$ 416	$ 404.8	$ 1,134.2	$ 1,101.6
Total other rental revenues	43.6	44.2	110.6	109
Total equipment rentals	459.6	449	1,244.8	1,210.6
Sales of rental equipment	35.4	50.1	171.8	175.6
Sales of new equipment, parts and supplies	10	14.2	34.1	36.4
Service and other revenues	3.1	2.9	8.2	10.4
Total revenues	508.1	516.2	1,458.9	1,433
Topic 842
Revenues:
Equipment rental	416		1,134.2
Total other rental revenues	16		39
Total equipment rentals	432		1,173.2
Sales of rental equipment	0		0
Sales of new equipment, parts and supplies	0		0
Service and other revenues	0		0
Total revenues	432		1,173.2
Topic 606
Revenues:
Equipment rental	0	0	0	0
Total other rental revenues	27.6	25.5	71.6	63.9
Total equipment rentals	27.6	25.5	71.6	63.9
Sales of rental equipment	35.4	50.1	171.8	175.6
Sales of new equipment, parts and supplies	10	14.2	34.1	36.4
Service and other revenues	3.1	2.9	8.2	10.4
Total revenues	76.1	92.7	285.7	286.3
Topic 840
Revenues:
Equipment rental		404.8		1,101.6
Total other rental revenues		18.7		45.1
Total equipment rentals		423.5		1,146.7
Sales of rental equipment		0		0
Sales of new equipment, parts and supplies		0		0
Service and other revenues		0		0
Total revenues		423.5		1,146.7
Delivery and pick-up
Revenues:
Total other rental revenues	27.6	25.5	71.6	63.9
Delivery and pick-up | Topic 842
Revenues:
Total other rental revenues	0		0
Delivery and pick-up | Topic 606
Revenues:
Total other rental revenues	27.6	25.5	71.6	63.9
Delivery and pick-up | Topic 840
Revenues:
Total other rental revenues		0		0
Other
Revenues:
Total other rental revenues	16	18.7	39	45.1
Other | Topic 842
Revenues:
Total other rental revenues	16		39
Other | Topic 606
Revenues:
Total other rental revenues	$ 0	0	$ 0	0
Other | Topic 840
Revenues:
Total other rental revenues		$ 18.7		$ 45.1

Revenue Recognition Revenue by

Revenue Recognition Revenue by Category (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenue from Contract with Customer [Abstract]
Sales Revenue, Revenue Earning Equipment, Gross	$ 35.4	$ 50.1	$ 171.8	$ 175.6
Sales Revenue, New Equipment	4.8	5.1	16	15.5
Sales Revenue, Parts and Supplies	5.2	9.1	18.1	20.9
Sales Revenue, Revenue Earning Equipment, Net	$ 45.4	$ 64.3	$ 205.9	$ 212

Revenue Earning Equipment - Rev

Revenue Earning Equipment - Revenue Earning Equipment Components (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Property Subject to or Available for Operating Lease, Net [Abstract]
Rental equipment	$ 3,993.3	$ 3,840.7
Less: Accumulated depreciation	(1,368.3)	(1,336)
Rental equipment, net	$ 2,625	$ 2,504.7

Leases Narrative (Details)

Leases Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining Lease Term	15 years
Lessee, Finance Lease, Renewal Term	20 years
2019 Plan [Member]
Lessee, Lease, Description [Line Items]
Operating Lease, Impairment Loss	$ 4.8
Impairment of Leasehold	0.7
Severance Costs	$ 2.3

Leases Lease Cost (Details)

Leases Lease Cost (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Leases [Abstract]
Operating Lease, Cost	$ 25.3	$ 70
Finance Lease, Right-of-Use Asset, Amortization	1.8	5.5
Finance Lease, Interest Expense	0.4	1.1
Sublease Income	(17.3)	(46.4)
Lease, Cost	10.2	30.2
Short-term Lease, Cost	13.7	36.8
Variable Lease, Cost	$ 0.8	$ 3.1

Leases Balance Sheet Lease Info

Leases Balance Sheet Lease Information (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Assets
Right-of-use assets	$ 186.8	$ 0
Property and equipment, net(a)	52.8
Total leased assets	239.6
Current
Current maturities of operating lease liabilities	30.3	0
Current maturities of long-term debt and financing obligations	22.9
Non-current
Operating lease liabilities	161.5	$ 0
Long-term debt, net	30.1
Total lease liabilities	$ 244.8
Weighted average remaining lease term
Operating leases	7 years 4 months 24 days
Finance leases	5 years 4 months 24 days
Weighted Average Discount Rate [Abstract]
Operating leases	4.05%
Finance leases	2.97%
FinanceLeaseAsset [Member]
Weighted Average Discount Rate [Abstract]
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$ 56.3

Leases Cash Flow Information Re

Leases Cash Flow Information Related to Leases (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 9.7	$ 29.3
Operating cash flows from finance leases	0.4	1.1
Financing cash flows from finance leases	3	9.3
Right-of-Use Assets Obtained in Exchange for Lease Obligations [Abstract]
Operating leases	26.9	48.4
Finance leases	$ 24.9	$ 27.3

Leases Maturities of Lease Liab

Leases Maturities of Lease Liabilities (Details) $ in Millions	Sep. 30, 2019USD ($)
Operating Leases
2019	$ 7.5
2020	39.7
2021	33.5
2022	28.4
2023	24.3
After 2024	90.6
Total lease payments	224
Less: Interest	32.2
Present value of lease liabilities	191.8
Finance Leases
2019	13.2
2020	16.4
2021	5.5
2022	5.3
2023	4.8
After 2024	11.4
Total lease payments	56.6
Less: Interest	3.6
Present value of lease liabilities	$ 53

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2019	Jul. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs	$ (8.1)		$ (10.6)
Total debt	2,178.7		2,156.8
Less: Current maturities of financing obligations	(29.6)		(26.9)
Long-term debt, net	$ 2,149.1		2,129.9
Senior Secured Second Priority Notes | 2022 Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.50%
Debt, gross	$ 0		427
Senior Secured Second Priority Notes | 2024 Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	7.75%
Debt, gross	$ 0		437.5
Senior Secured Second Priority Notes | 2027 Notes [Member]
Debt Instrument [Line Items]
Weighted Average Effective Interest Rate at September 30, 2019	5.61%
Debt Instrument, Interest Rate, Stated Percentage	5.50%
Debt, gross	$ 1,200		0
Line of Credit | Asset-backed Securities, Securitized Loans and Receivables [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	2.77%
Debt, gross	$ 175		175
Line of Credit | Other borrowings
Debt Instrument [Line Items]
Debt, gross	$ 6.8		4.6
Finance lease liabilities
Debt Instrument [Line Items]
Weighted Average Effective Interest Rate at September 30, 2019	4.89%
Debt, gross	$ 124.2		122.1
Less: Current maturities of financing obligations	(3.4)		(3)
Finance lease liabilities | Finance lease liabilities
Debt Instrument [Line Items]
Debt, gross	53		38.1
Senior Secured Revolving Credit Facility | Line of Credit | ABL Credit Facility
Debt Instrument [Line Items]
Debt, gross	$ 0	$ 722	1,085.2
Senior Secured Revolving Credit Facility | Line of Credit | New Credit Facility [Member] [Domain]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	3.49%
Debt, gross	$ 752
Senior Secured Revolving Credit Facility | Line of Credit | Other borrowings
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	4.79%
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	$ 9.9		$ 10.4

Debt - Senior Secured Second Pr

Debt - Senior Secured Second Priority Notes (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Jul. 09, 2019	Dec. 31, 2018	Jun. 30, 2016
Debt Instrument [Line Items]
Gain (Loss) on Extinguishment of Debt	$ 51	$ 53.6	$ 5.4
Payment for Debt Extinguishment or Debt Prepayment Cost	41.5	$ 41.5	$ 3.7
Write off of Deferred Debt Issuance Cost	$ 9.5
2027 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		100.00%
2027 Notes [Member] | Debt Instrument, Redemption, Period One [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		105.50%
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed		40.00%
2027 Notes [Member] | Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		102.75%
2027 Notes [Member] | Debt Instrument, Redemption, Period Three [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		101.833%
2027 Notes [Member] | Debt Instrument, Redemption, Period Four [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		100.917%
2027 Notes [Member] | Debt Instrument, Redemption, Period Five [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		100.00%
2027 Notes [Member] | Debt Instrument, Redemption, Period Six [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		101.00%
2027 Notes [Member] | Debt Instrument, Redemption, Period Seven [Member]
Debt Instrument [Line Items]
Debt Instrument, Redemption Price, Percentage		100.00%
Senior Notes [Member] | 2022 Notes
Debt Instrument [Line Items]
Aggregate principal amount						$ 610
Debt Instrument, Interest Rate, Stated Percentage	7.50%	7.50%
Aggregate principal amount redeemed	$ 183	$ 183		$ 427
Debt, gross	$ 0	$ 0			$ 427
Senior Notes [Member] | 2027 Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.50%	5.50%
Debt, gross	$ 1,200	$ 1,200			0
Senior Notes [Member] | 2024 Notes
Debt Instrument [Line Items]
Aggregate principal amount						$ 625
Debt Instrument, Interest Rate, Stated Percentage	7.75%	7.75%
Aggregate principal amount redeemed	$ 187.5	$ 187.5		$ 437.5
Debt, gross	$ 0	$ 0			$ 437.5

Debt - ABL Credit Facility & Ot

Debt - ABL Credit Facility & Other Borrowings (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2019USD ($)	Sep. 30, 2019USD ($)	Jul. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Line of Credit Facility [Line Items]
Line of Credit Facility, Covenant Terms, Fixed Charge Coverage Ratio, Minimum		1
Write off of Deferred Debt Issuance Cost	$ 9.5
Remaining Capacity	976.5	$ 976.5
Availability Under Borrowing Base Limitation	976.5	976.5
ABL Credit Facility
Line of Credit Facility [Line Items]
Write off of Deferred Debt Issuance Cost		2.6
Line of Credit | ABL Credit Facility | Senior Secured Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	1,750	1,750
Debt, gross	0	0	$ 722	$ 1,085.2
Remaining Capacity	976.5	976.5
Availability Under Borrowing Base Limitation	976.5	976.5
Line of Credit | ABL Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	350	350
Line of Credit | ABL Credit Facility | Letter of Credit
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	250	250
Remaining Capacity	228.5	228.5
Letter of credit outstanding	21.5	21.5
Long-term Line of Credit	0	0
Line of Credit | Other borrowings
Line of Credit Facility [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	10	$ 10
Line of credit facility, percentage ratio of interest rate to prevailing base lending rates		110.00%
Debt, gross	6.8	$ 6.8		4.6
Remaining Capacity	3.2	3.2
Line of Credit | Asset-backed Securities, Securitized Loans and Receivables [Member]
Line of Credit Facility [Line Items]
Debt, gross	175	175		$ 175
Remaining Capacity	0	0
Availability Under Borrowing Base Limitation	$ 0	$ 0

Debt - Securitization (Details)

Debt - Securitization (Details) $ in Millions	Sep. 30, 2019USD ($)
Asset-backed Securities, Securitized Loans and Receivables [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 175

Financing Obligations - Narrati

Financing Obligations - Narrative (Details) $ in Millions	Oct. 10, 2017USD ($)propertyperiod	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)property
Leases [Abstract]
Sale leaseback transaction, number of properties | property	42			2
Sale leaseback transaction, gross proceeds | $	$ 119.5	$ 4.7	$ 0	$ 6.4
Sale leaseback transaction, lease term (in years)	20 years
Sale leaseback transaction, number of additional periods | period	5
Sale Leaseback Transaction, Length Of Each Additional Period		5 years

Financing Obligations - Obligat

Financing Obligations - Obligations (Details) - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Less: Current maturities of financing obligations	$ (29.6)	$ (26.9)
Finance lease liabilities
Debt Instrument [Line Items]
Weighted Average Effective Interest Rate at September 30, 2019	4.89%
Financing obligations	$ 124.2	122.1
Unamortized financing issuance costs	(2.6)	(2.8)
Total financing obligations	121.6	119.3
Less: Current maturities of financing obligations	(3.4)	(3)
Financing obligations, net	$ 118.2	$ 116.3

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Tax Disclosure [Abstract]
Income Tax Expense (Benefit)	$ (4.2)	$ (1)	$ (2)	$ (5.3)
Effective Income Tax Rate Reconciliation, Deduction, Amount			$ 6.3
Tax Cuts and Jobs Act, Incomplete Accounting, Transition Tax for Accumulated Foreign Earnings, Provisional Income Tax Expense				24.5
Net income tax benefit related to toll charge as a result tax rate change				$ 14.8

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) - Changes in AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	$ 583.7	$ 495.3	$ 572.7	$ 510.4
Total other comprehensive income (loss)	(3.5)	9	4.2	(2.6)
Ending balance	593	554.3	593	554.3
Pension and Other Post-Employment Benefits
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(18.7)
Other comprehensive income (loss) before reclassification			0
Amounts reclassified from accumulated other comprehensive loss			0.9
Total other comprehensive income (loss)			0.9
Ending balance	(17.8)		(17.8)
Unrealized Gains (Loss) on Hedging Instruments
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			2.7
Other comprehensive income (loss) before reclassification			(2.5)
Amounts reclassified from accumulated other comprehensive loss			0
Total other comprehensive income (loss)			(2.5)
Ending balance	0.2		0.2
Foreign Currency Items
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance			(106.4)
Other comprehensive income (loss) before reclassification			5.8
Amounts reclassified from accumulated other comprehensive loss			0
Total other comprehensive income (loss)			5.8
Ending balance	(100.6)		(100.6)
Accumulated Other Comprehensive Income (Loss)
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Beginning balance	(114.7)	(110.2)	(122.4)	(98.6)
Other comprehensive income (loss) before reclassification			3.3
Amounts reclassified from accumulated other comprehensive loss			0.9
Total other comprehensive income (loss)			4.2
Ending balance	$ (118.2)	$ (101.2)	$ (118.2)	$ (101.2)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Loss) - Reclassification out of AOCI (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of actuarial losses	$ 0.5	$ (0.4)	$ (1.8)	$ (0.8)
Tax benefit	(4.2)	(1)	(2)	(5.3)
Reclassification out of Accumulated Other Comprehensive Income
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Net loss	(0.3)	(0.2)	(0.9)	(0.6)
Reclassification out of Accumulated Other Comprehensive Income | Selling, general and administrative
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Amortization of actuarial losses	(0.4)	(0.3)	(1.2)	(0.8)
Reclassification out of Accumulated Other Comprehensive Income | Income tax benefit
Reclassification Adjustment out of Accumulated Other Comprehensive Income [Line Items]
Tax benefit	$ (0.1)	$ (0.1)	$ 0.3	$ (0.2)

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Loss Contingencies [Line Items]
Accrual for environmental liabilities	$ 0.2	$ 0.1
Guarantor Obligations, Maximum Exposure, Undiscounted	$ 7.7
New Hertz
Loss Contingencies [Line Items]
Portion of shared liabilities	15.00%
Hertz Governmental Investigation [Member]
Loss Contingencies [Line Items]
Litigation Settlement, Amount Awarded to Other Party	$ 16

Financial Instruments - Summary

Financial Instruments - Summary of Outstanding Interest Rate Swap Agreement (Details) - Interest rate swap - Cash Flow Hedge $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, Term of Contract	3 years
Aggregate Notional Amount	$ 350
LIBOR
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Spread on receive rate	3.50%
Receive Rate	3.50%
Pay Rate	3.20%

Financial Instruments - Estimat

Financial Instruments - Estimated Fair Value of Financial Instruments (Details) - Fair Value, Measurements, Recurring - Derivatives Designated as Hedging Instruments - Interest rate swap - USD ($) $ in Millions	Sep. 30, 2019	Dec. 31, 2018
Prepaid Expenses and Other Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset Derivatives	$ 0.2	$ 3.6
Accrued Liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability Derivatives	$ 0	$ 0

Financial Instruments - Gains (

Financial Instruments - Gains (Losses) on Derivative Instruments (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Selling, General and Administrative Expenses | Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Loss on cash flow hedge	$ 0	$ 0	$ 0	$ 0.2

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and investments		$ 0
Fair Value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	$ 1,248,000,000	901,200,000
Carry Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Instrument, Fair Value Disclosure	$ 1,200,000,000	$ 864,500,000

Earnings Per Share - Computatio

Earnings 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, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Numerator:
Net income, basic and diluted	$ 9.4	$ 46.2	$ 12.4	$ 35.8
Denominator:
Basic weighted average common shares	28.7	28.5	28.7	28.4
Stock options, RSUs and PSUs	0.4	0.4	0.4	0.5
Weighted average shares used to calculate diluted earnings (loss) per share	29.1	28.9	29.1	28.9
Basic	$ 0.33	$ 1.62	$ 0.43	$ 1.26
Earnings per share:
Diluted	$ 0.32	$ 1.60	$ 0.43	$ 1.24
Antidilutive stock options, RSUs and PSUs
Earnings per share:
Antidilutive stock options, RSUs and PSUs	0.2	0.2	0.3	0.2

Related Party Transactions - Ag

Related Party Transactions - Agreements with Carl Icahn (Details) - Nomination and Standstill Agreement - Icahn Group - shares	Sep. 15, 2014	Sep. 30, 2019
Related Party Transaction [Line Items]
Ownership percentage limit (more than)	20.00%
Net long position shares held, tranche one (at least) (in shares)		1,900,000

Arrangements With New Hertz Arr

Arrangements With New Hertz Arrangements With New Hertz (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Transition Services Agreement | New Hertz
Related Party Transaction [Line Items]
Incurred expenses	$ 0.6	$ 6.3