Hertz Global (HTZ) 10-Q 6 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 30, 2018
Entity Information [Line Items]
Entity Registrant Name	HERTZ GLOBAL HOLDINGS, INC
Entity Central Index Key	1,657,853
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		84,179,208
The Hertz Corporation
Entity Information [Line Items]
Entity Registrant Name	HERTZ CORP
Entity Central Index Key	47,129
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		100

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Jun. 30, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents		$ 685	$ 1,072
Restricted cash and cash equivalents:		236	432
Total cash, cash equivalents, restricted cash and restricted cash equivalents		921	1,504
Receivables:		1,426	1,365
Prepaid expenses and other assets		922	687
Revenue earning vehicles:
Vehicles		17,706	14,574
Less accumulated depreciation		(3,289)	(3,238)
Total revenue earning vehicles, net		14,417	11,336
Property and equipment:
Land, buildings and leasehold improvements		1,204	1,233
Service equipment and other		790	763
Less accumulated depreciation		(1,192)	(1,156)
Total property and equipment, net		802	840
Other intangible assets, net		3,200	3,242
Goodwill		1,083	1,084
Total assets(a)	[1]	22,771	20,058
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		1,491	946
Accrued liabilities		1,158	920
Accrued taxes, net		162	160
Debt:		17,364	14,865
Public liability and property damage		421	427
Deferred income taxes, net		1,106	1,220
Total liabilities	[1]	21,702	18,538
Commitments and contingencies
Stockholders' equity:
Preferred Stock, $0.01 par value, no shares issued and outstanding		0	0
Common Stock		1	1
Additional paid-in capital		2,253	2,243
Accumulated deficit		(960)	(506)
Accumulated other comprehensive income (loss)		(135)	(118)
Treasury Stock, at cost, 2 shares and 2 shares		(100)	(100)
Total equity		1,059	1,520
Non-controlling interest		10	0
Total stockholders' equity		1,069	1,520
Total liabilities and stockholders' equity		22,771	20,058
Vehicles
ASSETS
Restricted cash and cash equivalents:		209	386
Receivables:		354	531
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		697	294
Debt:		12,933	10,431
Non-vehicle
ASSETS
Restricted cash and cash equivalents:		27	46
Receivables:		1,072	834
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		794	652
Debt:		4,431	4,434
The Hertz Corporation
ASSETS
Cash and cash equivalents		685	1,072
Restricted cash and cash equivalents:		236	432
Total cash, cash equivalents, restricted cash and restricted cash equivalents		921	1,504
Receivables:		1,426	1,365
Prepaid expenses and other assets		922	687
Revenue earning vehicles:
Vehicles		17,706	14,574
Less accumulated depreciation		(3,289)	(3,238)
Total revenue earning vehicles, net		14,417	11,336
Property and equipment:
Land, buildings and leasehold improvements		1,204	1,233
Service equipment and other		790	763
Less accumulated depreciation		(1,192)	(1,156)
Total property and equipment, net		802	840
Other intangible assets, net		3,200	3,242
Goodwill		1,083	1,084
Total assets(a)	[2]	22,771	20,058
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		1,491	946
Accrued liabilities		1,158	920
Accrued taxes, net		162	160
Debt:		17,364	14,865
Public liability and property damage		421	427
Deferred income taxes, net		1,107	1,220
Total liabilities	[2]	21,703	18,538
Commitments and contingencies
Stockholders' equity:
Common Stock		0	0
Additional paid-in capital		3,179	3,166
Due from affiliate		(48)	(42)
Accumulated deficit		(1,938)	(1,486)
Accumulated other comprehensive income (loss)		(135)	(118)
Total equity		1,058	1,520
Non-controlling interest		10	0
Total stockholders' equity		1,068	1,520
Total liabilities and stockholders' equity		22,771	20,058
The Hertz Corporation | Vehicles
ASSETS
Restricted cash and cash equivalents:		209	386
Receivables:		354	531
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		697	294
Debt:		12,933	10,431
The Hertz Corporation | Non-vehicle
ASSETS
Restricted cash and cash equivalents:		27	46
Receivables:		1,072	834
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		794	652
Debt:		$ 4,431	$ 4,434
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2018 and December 31, 2017 include total assets of variable interest entities (“VIEs”) of $706 million and $524 million, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2018 and December 31, 2017 include total liabilities of VIEs of $696 million and $524 million, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Special Purpose Entities" in Note 6, "Debt," and "Other Relationships" in Note 12, "Related Party Transactions," for further information.
[2]	The Hertz Corporation's consolidated total assets as of June 30, 2018 and December 31, 2017 include total assets of variable interest entities (“VIEs”) of $706 million and $524 million, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of June 30, 2018 and December 31, 2017 include total liabilities of VIEs of $696 million and $524 million, respectively, for which the creditors of the VIEs have no recourse to the Hertz Corporation. See "Special Purpose Entities" in Note 6, "Debt," and "Other Relationships" in Note 12, "Related Party Transactions," for further information.

CONDENSED CONSOLIDATED BALANCE3

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares issued	86,000,000	86,000,000
Common Stock, shares outstanding	84,000,000	84,000,000
Treasury Stock, shares repurchased	2,000,000	2,000,000
VIE, total assets	$ 706	$ 524
VIE, total liabilities	696	524
Non-vehicle
Receivables, allowance for doubtful accounts (in dollars)	29	33
The Hertz Corporation
Receivables, allowance for doubtful accounts (in dollars)	$ 29	$ 33
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares issued	100	100
Common Stock, shares outstanding	100	100

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues:
Worldwide vehicle rental	$ 2,217	$ 2,062	$ 4,111	$ 3,827
All other operations	172	162	341	313
Revenues	2,389	2,224	4,452	4,140
Expenses:
Direct vehicle and operating	1,349	1,255	2,585	2,387
Depreciation of revenue earning vehicles and lease charges, net	687	743	1,348	1,444
Selling, general and administrative	265	223	498	442
Total interest expense, net	200	158	367	289
Intangible asset impairments	0	86	0	86
Other (income) expense, net	(26)	4	(29)	31
Total expenses	2,475	2,469	4,769	4,679
Income (loss) before income taxes	(86)	(245)	(317)	(539)
Income tax (provision) benefit	23	87	52	158
Net income (loss)	$ (63)	$ (158)	$ (265)	$ (381)
Weighted average shares outstanding:
Basic (in shares)	84	83	83	83
Diluted (in shares)	84	83	83	83
Earnings (loss) per share - basic and diluted:
Basic earnings (loss) per share (in dollars per share)	$ (0.75)	$ (1.90)	$ (3.19)	$ (4.59)
Diluted earnings (loss) per share (in dollars per share)	$ (0.75)	$ (1.90)	$ (3.19)	$ (4.59)
Vehicles
Expenses:
Total interest expense, net	$ 127	$ (82)	$ 221	$ 153
Non-vehicle
Expenses:
Total interest expense, net	73	(76)	146	136
The Hertz Corporation
Revenues:
Worldwide vehicle rental	2,217	2,062	4,111	3,827
All other operations	172	162	341	313
Revenues	2,389	2,224	4,452	4,140
Expenses:
Direct vehicle and operating	1,349	1,255	2,585	2,387
Depreciation of revenue earning vehicles and lease charges, net	687	743	1,348	1,444
Selling, general and administrative	265	223	498	442
Total interest expense, net	198	157	364	287
Intangible asset impairments	0	86	0	86
Other (income) expense, net	(26)	4	(29)	31
Total expenses	2,473	2,468	4,766	4,677
Income (loss) before income taxes	(84)	(244)	(314)	(537)
Income tax (provision) benefit	23	86	51	157
Net income (loss)	(61)	(158)	(263)	(380)
The Hertz Corporation | Vehicles
Expenses:
Total interest expense, net	127	82	221	153
The Hertz Corporation | Non-vehicle
Expenses:
Total interest expense, net	$ 71	$ 75	$ 143	$ 134

CONDENSED CONSOLIDATED STATEME5

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Net income (loss)	$ (63)	$ (158)	$ (265)	$ (381)
Other comprehensive income (loss):
Foreign currency translation adjustments	(19)	(4)	(19)	12
Reclassification of realized gain on securities to other (income) expense	0	0	0	(3)
Net gain (loss) on defined benefit pension plans	5	(3)	2	(4)
Reclassification from other comprehensive income (loss) to selling, general and administrative expense for amortization of actuarial (gains) losses on defined benefit pension plans	0	1	0	2
Total other comprehensive income (loss) before income taxes	(14)	(6)	(17)	7
Income tax (provision) benefit related to net gains and losses on defined benefit pension plans	0	0	0	0
Income tax (provision) benefit related to reclassified amounts of net periodic costs on defined benefit pension plans	0	(1)	0	(1)
Total other comprehensive income (loss)	(14)	(7)	(17)	6
Total comprehensive income (loss)	(77)	(165)	(282)	(375)
The Hertz Corporation
Net income (loss)	(61)	(158)	(263)	(380)
Other comprehensive income (loss):
Foreign currency translation adjustments	(19)	(4)	(19)	12
Reclassification of realized gain on securities to other (income) expense	0	0	0	(3)
Net gain (loss) on defined benefit pension plans	5	(3)	2	(4)
Reclassification from other comprehensive income (loss) to selling, general and administrative expense for amortization of actuarial (gains) losses on defined benefit pension plans	0	1	0	2
Total other comprehensive income (loss) before income taxes	(14)	(6)	(17)	7
Income tax (provision) benefit related to net gains and losses on defined benefit pension plans	0	0	0	0
Income tax (provision) benefit related to reclassified amounts of net periodic costs on defined benefit pension plans	0	(1)	0	(1)
Total other comprehensive income (loss)	(14)	(7)	(17)	6
Total comprehensive income (loss)	$ (75)	$ (165)	$ (280)	$ (374)

CONDENSED CONSOLIDATED STATEME6

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flows from operating activities:
Net income (loss)	$ (265)	$ (381)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation of revenue earning vehicles, net	1,306	1,410
Depreciation and amortization, non-vehicle	113	120
Amortization of deferred financing costs and debt discount (premium)	26	21
Loss on extinguishment of debt	22	8
Stock-based compensation charges	7	12
Provision for receivables allowance	19	17
Deferred income taxes, net	(74)	(175)
Impairment charges and asset write-downs	0	116
Gain on marketable securities	(17)	(3)
Other	3	7
Changes in assets and liabilities:
Non-vehicle receivables	(275)	(180)
Prepaid expenses and other assets	(84)	(71)
Non-vehicle accounts payable	154	115
Accrued liabilities	5	(53)
Accrued taxes, net	2	(1)
Public liability and property damage	0	1
Net cash provided by (used in) operating activities	942	963
Cash flows from investing activities:
Revenue earning vehicles expenditures	(7,610)	(6,709)
Proceeds from disposal of revenue earning vehicles	3,654	3,835
Capital asset expenditures, non-vehicle	(80)	(84)
Proceeds from disposal of property and other equipment	8	11
Purchases of marketable securities	(61)	0
Sales of marketable securities	36	9
Other	(2)	(2)
Net cash provided by (used in) investing activities	(4,055)	(2,940)
Cash flows from financing activities:
Payment of financing costs	(27)	(34)
Early redemption premium payment	(19)	(5)
Other	8	(1)
Net cash provided by (used in) financing activities	2,540	3,069
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	(10)	17
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	(583)	1,109
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	1,504	1,094
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	921	2,203
Cash paid during the period for:
Income taxes, net of refunds	10	29
Supplemental disclosures of non-cash flow information:
Purchases of revenue earning vehicles included in accounts payable and accrued liabilities, net of incentives	548	546
Purchases of non-vehicle capital assets included in accounts payable	42	41
Revenue earning vehicles and non-vehicle capital assets acquired through capital lease	16	13
Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	9,414	5,028
Repayments of debt	(6,829)	(3,665)
Cash paid during the period for:
Interest, net of amounts capitalized:	175	130
Supplemental disclosures of non-cash flow information:
Sales of revenue earning vehicles included in receivables	204	151
Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	187	2,100
Repayments of debt	(194)	(354)
Cash paid during the period for:
Interest, net of amounts capitalized:	142	128
Supplemental disclosures of non-cash flow information:
Sales of revenue earning vehicles included in receivables	4	5
The Hertz Corporation
Cash flows from operating activities:
Net income (loss)	(263)	(380)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation of revenue earning vehicles, net	1,306	1,410
Depreciation and amortization, non-vehicle	113	120
Amortization of deferred financing costs and debt discount (premium)	26	21
Loss on extinguishment of debt	22	8
Stock-based compensation charges	7	12
Provision for receivables allowance	19	17
Deferred income taxes, net	(73)	(174)
Impairment charges and asset write-downs	0	116
Gain on marketable securities		(3)
Other	3	7
Changes in assets and liabilities:
Non-vehicle receivables	(275)	(180)
Prepaid expenses and other assets	(84)	(71)
Non-vehicle accounts payable	154	115
Accrued liabilities	5	(53)
Accrued taxes, net	2	(1)
Public liability and property damage	0	1
Net cash provided by (used in) operating activities	945	965
Cash flows from investing activities:
Revenue earning vehicles expenditures	(7,610)	(6,709)
Proceeds from disposal of revenue earning vehicles	3,654	3,835
Capital asset expenditures, non-vehicle	(80)	(84)
Proceeds from disposal of property and other equipment	8	11
Purchases of marketable securities	(61)	0
Sales of marketable securities	36	9
Other	(2)	(2)
Net cash provided by (used in) investing activities	(4,055)	(2,940)
Cash flows from financing activities:
Payment of financing costs	(27)	(34)
Early redemption premium payment	(19)	(5)
Advances to Hertz Holdings	(6)	(3)
Other	11	0
Net cash provided by (used in) financing activities	2,537	3,067
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	(10)	17
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	(583)	1,109
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	1,504	1,094
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	921	2,203
Cash paid during the period for:
Income taxes, net of refunds	10	29
Supplemental disclosures of non-cash flow information:
Purchases of revenue earning vehicles included in accounts payable and accrued liabilities, net of incentives	548	546
Purchases of non-vehicle capital assets included in accounts payable	42	41
Revenue earning vehicles and non-vehicle capital assets acquired through capital lease	16	13
The Hertz Corporation | Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	9,414	5,028
Repayments of debt	(6,829)	(3,665)
Cash paid during the period for:
Interest, net of amounts capitalized:	175	130
Supplemental disclosures of non-cash flow information:
Sales of revenue earning vehicles included in receivables	204	151
The Hertz Corporation | Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	187	2,100
Repayments of debt	(194)	(354)
Cash paid during the period for:
Interest, net of amounts capitalized:	142	128
Supplemental disclosures of non-cash flow information:
Sales of revenue earning vehicles included in receivables	$ 4	$ 5

Background

Background	6 Months Ended
	Jun. 30, 2018
Background Disclosure [Abstract]
Background	Background Hertz Global Holdings, Inc. ("Hertz Global" when including its subsidiaries and variable interest entities and "Hertz Holdings" excluding its subsidiaries and variable interest entities) was incorporated in Delaware in 2015 to serve as the top-level holding company for Rental Car Intermediate Holdings, LLC, which wholly owns The Hertz Corporation ("Hertz" and interchangeably with Hertz Global, the "Company"), Hertz Global's primary operating company. Hertz was incorporated in Delaware in 1967 and is a successor to corporations that have been engaged in the vehicle rental and leasing business since 1918. Hertz operates its vehicle rental business globally primarily through the Hertz, Dollar and Thrifty brands from company-owned, licensee and franchisee locations in the United States ("U.S."), Africa, Asia, Australia, Canada, the Caribbean, Europe, Latin America, the Middle East and New Zealand. Through its Donlen subsidiary, Hertz provides vehicle leasing and fleet management services.

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Pronouncements	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Recently Issued Accounting Pronouncements	Basis of Presentation and Recently Issued Accounting Pronouncements Basis of Presentation The Company's unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. The 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. The December 31, 2017 unaudited condensed consolidated balance sheet data is derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with information included in the Company's Form 10‑K for the year ended December 31, 2017 (the "2017 Form 10‑K"), as filed with the Securities and Exchange Commission ("SEC") on February 27, 2018. Certain prior period amounts have been reclassified to conform with current period presentation. As disclosed below in "Recently Issued Accounting Pronouncements," the Company adopted the financial statement disclosure guidance "Restricted Cash" on January 1, 2018. Principles of Consolidation The unaudited condensed consolidated financial statements of Hertz Global include the accounts of Hertz Global and its wholly owned and majority owned U.S. and international subsidiaries. The unaudited condensed consolidated financial statements of Hertz include the accounts of Hertz and its wholly owned and majority owned U.S. and international subsidiaries. The Company is the primary beneficiary of certain variable interest entities, therefore, the assets, liabilities, results of operations and cash flows of the variable interest entities are included in the Company's unaudited condensed consolidated financial statements. The Company accounts for its investment 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. Out of Period Adjustments The Company identified a misstatement in its 2016 financial statements, related to the income tax provision, that it corrected in the second quarter of 2017. The cumulative impact of the adjustment was an increase in net loss of approximately $10 million . There was no impact to loss before income taxes. The misstatement related to an error in the tax provision for U.S. income of a foreign equity investment transaction for fiscal year 2016. The Company considered both quantitative and qualitative factors in assessing the materiality of the item and determined that the misstatement was not material to any prior period and not material to the three and six months ended June 30, 2017. Correction of Errors The Company identified classification errors within the operating and investing sections of its unaudited condensed consolidated statement of cash flows for the six months ended June 30, 2017 that were previously disclosed in the Company's Form 10-Q for the quarterly period ended March 31, 2018. The error related to $19 million of intangible software assets for which no payment was made as of June 30, 2017 . The Company considered both quantitative and qualitative factors in assessing the materiality of the classification errors individually, and in the aggregate, and determined that the classification errors are not material and revised the accompanying unaudited condensed consolidated statement of cash flows for the six months ended June 30, 2017 , accordingly. Correction of the error decreased cash provided by operating activities for changes in non-vehicle accounts payable by $19 million , decreased cash used in investing activities by $19 million , and decreased capital asset expenditures, non-vehicle by $19 million . Also, there was a $19 million increase in the non-cash supplemental disclosure for purchases of non-vehicle capital assets included in accounts payable. These revisions had no impact to cash flows from financing activities. Additionally, these revisions had no impact on the Company's unaudited condensed consolidated balance sheet as of December 31, 2017 or its unaudited condensed consolidated statement of operations for the three and six months ended June 30, 2017 . Recently Issued Accounting Pronouncements Adopted Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board (the "FASB") issued guidance that replaced most existing revenue recognition guidance in U.S. GAAP. The FASB also issued several amendments and updates to the new revenue standard (collectively, “Topic 606”). Topic 606 applies to all contracts with customers except for leases, insurance contracts, financial instruments, certain nonmonetary exchanges and certain guarantees. The core principle of Topic 606 is that an entity should recognize revenue from customers for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services, as well as when an entity should recognize revenue gross as a principal or net as an agent and how an entity should identify performance obligations. Topic 606 requires disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. The Company adopted Topic 606 on the effective date, January 1, 2018, using a modified retrospective approach applied to all contracts. Prior periods have not been retrospectively adjusted. The impact to the Company’s financial position, results of operations and cash flows is primarily for revenue associated with the redemption of points earned by customers under the Company’s loyalty programs (“loyalty points”). For transactions that generate loyalty points to the customer, a portion of revenue is deferred until the loyalty points are redeemed by the customer. The amount of revenue deferred is equivalent to the retail value of each loyalty point less an estimated amount representing loyalty points that are not expected to be redeemed. The cumulative effect of applying the new guidance to all contracts with customers that were not completed as of January 1, 2018 has been recorded as an adjustment to accumulated deficit, net of tax, as of the adoption date as follows: Hertz Global (In millions) Deferred income taxes, net Accrued liabilities Total liabilities Accumulated deficit Total equity Total liabilities and equity As of December 31, 2017 $ 1,220 $ 920 $ 18,538 $ (506 ) $ 1,520 $ 20,058 Effect of Adopting ASC 606 (51 ) 240 189 (189 ) (189 ) — As of January 1, 2018 $ 1,169 $ 1,160 $ 18,727 $ (695 ) $ 1,331 $ 20,058 Hertz (In millions) Deferred income taxes, net Accrued liabilities Total liabilities Accumulated deficit Total equity Total liabilities and equity As of December 31, 2017 $ 1,220 $ 920 $ 18,538 $ (1,486 ) $ 1,520 $ 20,058 Effect of Adopting ASC 606 (51 ) 240 189 (189 ) (189 ) — As of January 1, 2018 $ 1,169 $ 1,160 $ 18,727 $ (1,675 ) $ 1,331 $ 20,058 As disclosed above, the Company adopted Topic 606 on a modified retrospective basis, therefore, historical financial information has not been restated for comparative purposes and continues to be reported under the accounting standards in effect for those periods (“legacy guidance”). The following table presents the amounts for line items in the Company’s unaudited condensed consolidated balance sheet, statement of operations and cash flows impacted by the adoption of Topic 606 as compared to the amounts that would have been recognized in accordance with legacy guidance. The impact to the Company's unaudited condensed consolidated statement of comprehensive income (loss) is comprised solely of the impact to net income (loss) as shown in the table below: Hertz Global (In millions, except per share data) As Reported Effect of Adoption Increase (Decrease) Balances Without Adoption Unaudited Condensed Consolidated Balance Sheet as of June 30, 2018: Accrued liabilities $ 1,158 $ 239 $ 919 Deferred income taxes, net 1,106 (53 ) 1,159 Total liabilities 21,702 186 21,516 Accumulated deficit (960 ) (186 ) (774 ) Total stockholders' equity 1,069 (186 ) 1,255 Unaudited Condensed Consolidated Statement of Operations for the Three Months Ended June 30, 2018: Worldwide vehicle rental revenues $ 2,217 $ (2 ) $ 2,219 Selling, general and administrative expense 265 (1 ) 266 Income (loss) before income taxes (86 ) (1 ) (85 ) Income tax (provision) benefit 23 2 21 Net income (loss) (63 ) 1 (64 ) Basic earnings (loss) per share (0.75 ) 0.01 (0.76 ) Diluted earnings (loss) per share (0.75 ) 0.01 (0.76 ) Unaudited Condensed Consolidated Statement of Operations for the Six Months Ended June 30, 2018: Worldwide vehicle rental revenues $ 4,111 $ 1 $ 4,110 Selling, general and administrative expense 498 — 498 Income (loss) before income taxes (317 ) 1 (318 ) Income tax (provision) benefit 52 2 50 Net income (loss) (265 ) 3 (268 ) Basic earnings (loss) per share (3.19 ) 0.04 (3.23 ) Diluted earnings (loss) per share (3.19 ) 0.04 (3.23 ) Unaudited Condensed Consolidated Statement of Cash Flow for the Six Months Ended June 30, 2018: Cash flows from operating activities: Net income (loss) $ (265 ) $ 3 $ (268 ) Deferred income taxes, net (74 ) (2 ) (72 ) Accrued liabilities 5 (1 ) 6 Hertz (In millions, except per share data) As Reported Effect of Adoption Increase (Decrease) Balances Without Adoption Unaudited Condensed Consolidated Balance Sheet as of June 30, 2018: Accrued liabilities $ 1,158 $ 239 $ 919 Deferred income taxes, net 1,107 (53 ) 1,160 Total liabilities 21,703 186 21,517 Accumulated deficit (1,938 ) (186 ) (1,752 ) Total stockholders' equity 1,068 (186 ) 1,254 Unaudited Condensed Consolidated Statement of Operations for the Three Months Ended June 30, 2018: Worldwide vehicle rental revenues $ 2,217 $ (2 ) $ 2,219 Selling, general and administrative expense 265 (1 ) 266 Income (loss) before income taxes (84 ) (1 ) (83 ) Income tax (provision) benefit 23 2 21 Net income (loss) (61 ) 1 (62 ) Unaudited Condensed Consolidated Statement of Operations for the Six Months Ended June 30, 2018: Worldwide vehicle rental revenues $ 4,111 $ 1 $ 4,110 Selling, general and administrative expense 498 — 498 Income (loss) before income taxes (314 ) 1 (315 ) Income tax (provision) benefit 51 2 49 Net income (loss) (263 ) 3 (266 ) Unaudited Condensed Consolidated Statement of Cash Flow for the Six Months Ended June 30, 2018: Cash flows from operating activities: Net income (loss) $ (263 ) $ 3 $ (266 ) Deferred income taxes, net (73 ) (2 ) (71 ) Accrued liabilities 5 (1 ) 6 See Note 7 , " Revenue ," for information regarding the Company’s accounting policies for revenue recognition, including the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, as well as other required disclosures under Topic 606. Restricted Cash In November 2016, the FASB issued guidance that clarifies existing guidance on the classification and presentation of restricted cash in the statement of cash flows. The guidance requires entities to show the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flows. Additionally, entities will no longer present transfers between cash and cash equivalents and restricted cash and restricted cash equivalents in the statement of cash flows. The Company adopted this guidance retrospectively in accordance with the effective date on January 1, 2018. Adoption of this guidance had no impact on the Company's financial position or results of operations. The impact to the unaudited condensed consolidated statement of cash flows of adopting this guidance is as follows: Hertz Global Six Months Ended June 30, 2017 (In millions) As Previously Reported Adjustments As Adjusted Net change in restricted cash and cash equivalents, vehicle $ 55 $ (55 ) $ — Net cash provided by (used in) investing activities (a) (2,885 ) (55 ) (2,940 ) Net change in restricted cash and cash equivalents, non-vehicle (834 ) 834 — Net cash provided by (used in) financing activities 2,235 834 3,069 Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash 12 5 17 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 816 278 1,094 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 1,141 1,062 2,203 Hertz Six Months Ended June 30, 2017 (In millions) As Previously Reported Adjustments As Adjusted Net change in restricted cash and cash equivalents, vehicle $ 55 $ (55 ) $ — Net cash provided by (used in) investing activities (a) (2,885 ) (55 ) (2,940 ) Net change in restricted cash and cash equivalents, non-vehicle (834 ) 834 — Net cash provided by (used in) financing activities 2,233 834 3,067 Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash 12 5 17 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 816 278 1,094 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 1,141 1,062 2,203 (a) Amount previously reported includes the $19 million revision to correct for an error as disclosed above in "Correction of Errors." Not Yet Adopted Leases In February 2016, the FASB issued guidance that replaces the existing lease guidance in U.S. GAAP. The new guidance ("Topic 842") establishes a right-of-use (“ROU”) model that requires a lessee to record on the balance sheet a ROU asset and corresponding lease liability based on the present value of future lease payments for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. Topic 842 also expands the requirements for lessees to record leases embedded in other arrangements. Additionally, enhanced quantitative and qualitative disclosures surrounding leases are required which provide financial statement users the ability to assess the amount, timing and uncertainty of cash flows arising from leases. Topic 842 is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods with early adoption permitted. The Company intends to adopt this guidance, in accordance with the effective date, on January 1, 2019. A modified retrospective transition approach is required for both lessees and lessors for existing leases at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company intends to avail itself of the allowable practical expedients for existing or expired contracts of lessees and lessors wherein the Company would not be required to reassess whether such contracts contain leases, the lease classification or the initial direct costs. Additionally, with respect to its real estate leases, the Company intends to avail itself of the practical expedient for lessees which allows it to elect an accounting policy by class of underlying asset to combine lease and non-lease components. The Company does not intend to utilize the practical expedient which allows the use of hindsight by lessees and lessors in determining the lease term and in assessing impairment of its ROU assets. The Company is in the process of evaluating whether to avail itself of other allowable practicable expedients during transition. In July 2018, the FASB issued guidance related to Topic 842 that provides an additional transition method that would allow the Company to only apply the new lease standard in the year of adoption. Additionally, the guidance provides a practical expedient for lessors that would allow the Company to elect as an accounting policy, by class of underlying asset, to combine non-lease components with the related lease components, if certain conditions are met. This could allow the Company to account for all revenue earned from the operations of rental vehicles and from other forms of rental related activities under the new lease guidance. The Company plans to adopt the new transition method which allows the application of the standard at the adoption date, January 1, 2019, and will recognize a cumulative-effect adjustment to the opening balances of retained earnings in the period of adoption. The Company is in the process of evaluating the new guidance related to the practical expedient. Lessee Adoption of Topic 842 will result in a material increase in the Company's lease-related assets and liabilities on its balance sheet, primarily for leases of rental locations and other assets. Additionally, adoption of this guidance will impact the statement of cash flows with respect to the presentation of the Company's operating activities, but is not expected to impact its presentation of investing or financing activities. Adoption of Topic 842 is not expected to have a material impact on the Company’s results of operations. The Company has reached conclusions on key accounting assessments related to its leases which includes an accounting policy election to not recognize ROU assets or lease liabilities for short-term leases (i.e. those with a term of 12 months or less). The Company is performing an analysis of its lease portfolio to ensure proper application of the new guidance including implementation of internal controls over financial reporting. Lessor The Company has concluded that revenue earned from the rental and leasing of vehicles and from other forms of rental related activities wherein an identified asset is transferred to the customer and the customer has the ability to control that asset is within the scope of this guidance and that additional disclosures regarding lease revenue are required upon adoption. The Company is in the process of evaluating the breakdown of its vehicle rental revenues into lease and non-lease components. There is no impact to the nature, timing or recognition of rental lease revenue upon adoption of this guidance. Reporting Comprehensive Income In February 2018, the FASB issued guidance that allows a reclassification from accumulated other comprehensive income to retained earnings for the stranded tax effects resulting from the U.S. Tax Cuts and Jobs Act ("TCJA"). The guidance is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods. The guidance should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the TCJA is recognized. Early adoption is permitted, including adoption in any interim period. Adoption of this guidance will result in a reclassification of certain amounts from accumulated other comprehensive income to retained earnings as of the date adopted.

Acquisitions and Divestitures

Acquisitions and Divestitures	6 Months Ended
	Jun. 30, 2018
Business Combinations and Divestitures [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Divestitures Equity Investment The Company had an investment that was accounted for under the equity method. In March 2017, the Company determined it had an other than temporary loss in value of its investment and recorded an impairment charge of $30 million , which is included in other (income) expense, net in the accompanying unaudited condensed consolidated statement of operations for the six months ended June 30, 2017 . In September 2017, the investee was dissolved and the Company no longer has an ownership interest in the entity.

Revenue Earning Vehicles

Revenue Earning Vehicles	6 Months Ended
	Jun. 30, 2018
Revenue Earning Vehicles [Abstract]
Revenue Earning Vehicles	Revenue Earning Vehicles The components of revenue earning vehicles, net are as follows: (In millions) June 30, 2018 December 31, 2017 Revenue earning vehicles $ 17,256 $ 14,209 Less: Accumulated depreciation (3,162 ) (3,123 ) 14,094 11,086 Revenue earning vehicles held for sale, net 323 250 Revenue earning vehicles, net $ 14,417 $ 11,336 Depreciation of revenue earning vehicles and lease charges, net includes the following: Three Months Ended Six Months Ended (In millions) 2018 2017 2018 2017 Depreciation of revenue earning vehicles $ 634 $ 660 $ 1,228 $ 1,265 (Gain) loss on disposal of revenue earning vehicles (a) 31 66 78 145 Rents paid for vehicles leased 22 17 42 34 Depreciation of revenue earning vehicles and lease charges, net $ 687 $ 743 $ 1,348 $ 1,444 (a) (Gain) loss on disposal of revenue earning vehicles by segment is as follows: Three Months Ended Six Months Ended (In millions) 2018 2017 2018 2017 U.S. Rental Car (i) $ 34 $ 67 $ 79 $ 145 International Rental Car (3 ) (1 ) (1 ) — Total $ 31 $ 66 $ 78 $ 145 (i) Includes costs associated with the Company's U.S. vehicle sales operations of $34 million for each of the three months ended June 30, 2018 and 2017 and $70 million and $63 million for the six months ended June 30, 2018 and 2017 , respectively. Depreciation rates are reviewed on a quarterly basis based on management's ongoing assessment of present and estimated future market conditions, their effect on residual values at the time of disposal and the estimated holding periods for the vehicles. The impact of depreciation rate changes is as follows: Increase (decrease) Three Months Ended Six Months Ended (In millions) 2018 2017 2018 2017 U.S. Rental Car (a) $ 3 $ 36 $ 12 $ 62 International Rental Car 1 1 3 1 Total $ 4 $ 37 $ 15 $ 63 (a) The depreciation rate changes in the U.S. Rental Car operations for the three and six months ended June 30, 2018 include a net increase in depreciation expense of $2 million based on the review completed during the second quarter of 2018 . The depreciation rate changes in the U.S. Rental Car operations for the three and six months ended June 30, 2017 include a net increase in depreciation expense of $24 million based on the review completed during the second quarter of 2017 .

Intangible Asset Impairment

Intangible Asset Impairment	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Asset Impairment	Intangible Asset Impairment As a result of declines in revenue and profitability of the Company and a decline in the share price of Hertz Global's common stock, the Company performed an impairment analysis of its indefinite-lived intangible assets as of June 30, 2017 using the relief from royalty method, a measurement using level 3 inputs under the GAAP fair value hierarchy. As a result of the analysis, the Company concluded that there was an impairment of the Dollar Thrifty tradename in its U.S. Rental Car segment and recorded a charge of $ 86 million . The impairment was largely due to a decrease in long-term revenue projections coupled with an increase in the weighted average cost of capital. The carrying value of the Dollar Thrifty tradename at June 30, 2017 was approximately $934 million , representing its estimated fair value.

Debt

Debt	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Debt	Debt The Company's debt, including its available credit facilities, consists of the following ($ in millions): Facility Weighted Average Interest Rate Fixed or Maturity June 30, December 31, Non-Vehicle Debt Senior Term Loan 4.85% Floating 6/2023 $ 681 $ 688 Senior RCF N/A Floating 6/2021 — — Senior Notes (1) 6.13% Fixed 10/2020-10/2024 2,500 2,500 Senior Second Priority Secured Notes 7.63% Fixed 6/2022 1,250 1,250 Promissory Notes 7.00% Fixed 1/2028 27 27 Other Non-Vehicle Debt 1.91% Fixed Various 11 11 Unamortized Debt Issuance Costs and Net (Discount) Premium (38 ) (42 ) Total Non-Vehicle Debt 4,431 4,434 Vehicle Debt HVF U.S. Vehicle Medium Term Notes HVF Series 2010-1 N/A N/A N/A — 39 HVF Series 2013-1 (2) 1.91% Fixed 8/2018 208 625 208 664 HVF II U.S. ABS Program HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A (2) 3.58% Floating 3/2020 3,030 1,970 HVF II Series 2013-B (2) 3.52% Floating 3/2020 28 123 3,058 2,093 Facility Weighted Average Interest Rate Fixed or Maturity June 30, December 31, HVF II U.S. Vehicle Medium Term Notes HVF II Series 2015-1 (2) 2.93% Fixed 3/2020 780 780 HVF II Series 2015-2 (2) 2.45% Fixed 9/2018 265 265 HVF II Series 2015-3 (2) 3.10% Fixed 9/2020 371 371 HVF II Series 2016-1 (2) 2.89% Fixed 3/2019 466 466 HVF II Series 2016-2 (2) 3.41% Fixed 3/2021 595 595 HVF II Series 2016-3 (2) 2.72% Fixed 7/2019 424 424 HVF II Series 2016-4 (2) 3.09% Fixed 7/2021 424 424 HVF II Series 2017-1 (2) 3.38% Fixed 10/2020 450 450 HVF II Series 2017-2 (2) 3.57% Fixed 10/2022 350 350 HVF II Series 2018-1 (2) 3.41% Fixed 2/2023 1,000 — HVF II Series 2018-2 (2) 3.80% Fixed 6/2021 200 — HVF II Series 2018-3 (2) 4.15% Fixed 7/2023 200 — 5,525 4,125 Donlen ABS Program HFLF Variable Funding Notes HFLF Series 2013-2 (2) 2.56% Floating 3/2020 66 380 66 380 HFLF Medium Term Notes HFLF Series 2015-1 (4) 2.97% Floating 7/2018-3/2019 85 145 HFLF Series 2016-1 (4) 3.15% Both 7/2018-1/2020 239 318 HFLF Series 2017-1 (4) 2.61% Both 7/2018-8/2020 480 500 HFLF Series 2018-1 (4) 2.55% Both 7/2019-6/2021 550 — 1,354 963 Vehicle Debt - Other U.S. Vehicle RCF 4.56% Floating 6/2021 133 186 European Revolving Credit Facility 2.95% Floating 3/2020 410 184 European Vehicle Notes (3) 5.07% Fixed 10/2021-3/2023 838 773 European Securitization (2) 1.70% Floating 10/2018-3/2020 490 367 Canadian Securitization (2) 3.13% Floating 10/2018-3/2020 308 237 Australian Securitization (2) 3.51% Floating 3/2020 132 155 New Zealand RCF 4.71% Floating 3/2020 36 42 U.K. Financing Facility 2.86% Floating 7/2018-4/2021 377 251 Other Vehicle Debt 3.98% Floating 7/2018-10/2022 51 51 2,775 2,246 Unamortized Debt Issuance Costs and Net (Discount) Premium (53 ) (40 ) Total Vehicle Debt 12,933 10,431 Total Debt $ 17,364 $ 14,865 N/A - Not applicable (1) References to the "Senior Notes" include the series of Hertz's unsecured senior notes set forth on the table below. Outstanding principal amounts for each such series of the Senior Notes is also specified below: (In millions) Outstanding Principal Senior Notes June 30, 2018 December 31, 2017 5.875% Senior Notes due October 2020 $ 700 $ 700 7.375% Senior Notes due January 2021 500 500 6.250% Senior Notes due October 2022 500 500 5.500% Senior Notes due October 2024 800 800 $ 2,500 $ 2,500 (2) Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness expect the outstanding principal of the relevant indebtedness to be repaid in full. The legal final maturity date is the date on which the outstanding principal of the relevant indebtedness is legally due and payable in full. (3) References to the "European Vehicle Notes" include the series of Hertz Holdings Netherlands B.V.'s, an indirect wholly-owned subsidiary of Hertz organized under the laws of The Netherlands (“HHN BV”), unsecured senior notes (converted from Euros to U.S. dollars at a rate of 1.16 to 1 and 1.19 to 1 as of June 30, 2018 and December 31, 2017 , respectively) set forth on the table below. Outstanding principal amounts for each such series of the European Vehicle Notes is also specified below: (In millions) Outstanding Principal European Vehicles Notes June 30, 2018 December 31, 2017 4.375% Senior Notes due January 2019 $ — $ 505 4.125% Senior Notes due October 2021 260 268 5.500% Senior Notes due March 2023 578 — $ 838 $ 773 (4) In the case of the Hertz Fleet Lease Funding LP ("HFLF") Medium Term Notes, such notes are repayable from cash flows derived from third-party leases comprising the underlying HFLF collateral pool. The initial maturity date referenced for each series of HFLF Medium Term Notes represents the end of the revolving period for such series, at which time the related notes begin to amortize monthly by an amount equal to the lease collections payable to that series. To the extent the revolving period already has ended, the initial maturity date reflected is July 2018. The second maturity date referenced for each series of HFLF Medium Term Notes represents the date by which Hertz and the investors in the related series expect such series of notes to be repaid in full, which is based upon various assumptions made at the time of pricing of such notes, including the contractual amortization of the underlying leases as well as the assumed rate of prepayments of such leases. Such maturity reference is to the “expected final maturity date” as opposed to the subsequent “legal final maturity date.” The legal final maturity date is the date on which the relevant indebtedness is legally due and payable. Although the underlying lease cash flows that support the repayment of the HFLF Medium Term Notes may vary, the cash flows generally are expected to approximate a straight-line amortization of the related notes from the initial maturity date through the expected final maturity date. The Company is highly leveraged and a substantial portion of its liquidity needs arise from debt service on its indebtedness and from the funding of its costs of operations, acquisitions and capital expenditures. The Company’s practice is to maintain sufficient liquidity through cash from operations, credit facilities and other financing arrangements, to mitigate any adverse impact on its operations resulting from adverse financial market conditions. As of June 30, 2018 , approximately $2.2 billion of vehicle debt and $25 million of non-vehicle debt is due to mature between July 1, 2018 and June 30, 2019. The Company has reviewed its debt facilities and determined that it is probable that the Company will be able, and has the intent, to refinance these facilities at such times as the Company determines appropriate prior to their respective maturities. Non-Vehicle Debt Senior Facilities In June 2018, the Company terminated letters of credit issued under the Senior RCF with a stated amount of approximately $302 million and, reissued such letters of credit under the Letter of Credit Facility, as defined below. As a result, the commitments under the Senior RCF were permanently reduced on a dollar-for-dollar basis, such that after giving effect to such reduction the Senior RCF consists of a $865 million senior secured revolving credit facility. Vehicle Debt HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013 Notes : In April 2018, HVF II increased the maximum commitments under the HVF II Series 2013-A Notes and HVF II Series 2013-B Notes (the "HVF II Series 2013 Notes") by $250 million , such that after giving effect to such increase, the aggregate maximum principal amount of the HVF II Series 2013 Notes is approximately $3.7 billion . HVF II Series 2017-A Notes : In March 2018, HVF II terminated all $500 million of commitments under the HVF II Series 2017-A Notes. HVF II U.S. Vehicle Medium Term Notes HVF II Series 2018-2 Notes and HVF II Series 2018-3 Notes : In June 2018, HVF II issued the Series 2018-2 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D ("the HVF II Series 2018-2 Notes") and the Series 2018-3 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D ("the HVF II Series 2018-3 Notes") in an aggregate principal amount of approximately $426 million . Hertz purchased the Class D Notes of each such series and as a result, approximately $26 million of the aggregate principal amount is eliminated in consolidation. There is subordination within the HVF II Series 2018-2 Notes and the HVF II Series 2018-3 Notes based on class. HVF II Series 2018-1 Notes : In January 2018, HVF II issued the Series 2018-1 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D ("the HVF II Series 2018-1 Notes") in an aggregate principal amount of approximately $1.1 billion . Hertz purchased the Class D Notes of such series and as a result, approximately $58 million of the aggregate principal amount is eliminated in consolidation. There is subordination within the HVF II Series 2018-1 Notes based on class. HFLF Medium Term Notes HFLF Series 2018-1 Notes : In May 2018, HFLF issued the Series 2018-1 Asset-Backed Notes, Class A, Class B, Class C, Class D, and Class E (collectively, the “HFLF Series 2018-1 Notes”) in an aggregate principal amount of $550 million . The HFLF Series 2018-1 Notes are fixed rate, except for the Class A-1 Notes which are floating rate and carry an interest rate based upon a spread to one-month LIBOR. A portion of the net proceeds of this issuance were used to reduce amounts outstanding under the HFLF Series 2013-2 Notes. Vehicle Debt - Other European Vehicle Notes In March 2018, HHN BV issued 5.50% Senior Notes due March 2023 in an aggregate original principal amount of €500 million (the "2023 Notes"). A portion of the net proceeds from this issuance were used in April 2018 to fully redeem all €425 million of 4.375 % Senior Notes due January 2019 , and the Company recorded $20 million of charges for the early redemption premium and write-off of deferred financing costs. European Revolving Credit Facility In March 2018, HHN BV amended its credit agreement ("European Revolving Credit Facility") to provide for aggregate maximum borrowing capacity (subject to borrowing base availability) of up to €438 million during the peak rental season, for a seasonal commitment period through October 2018 . Following the expiration of the seasonal commitment period, aggregate maximum borrowings available under the European Revolving Credit Facility will revert to €235 million (subject to borrowing base availability). Canadian Securitization In May 2018, TCL Funding Limited Partnership, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Hertz, amended its supplemental indenture for its Series 2015-A Variable Funding Rental Car Asset Backed Notes (the "Funding LP Series 2015-A Notes") to provide for aggregate maximum borrowing capacity (subject to borrowing base availability) of up to CAD $410 million during the peak rental season, for a seasonal commitment period through October 2018 . Following the expiration of the seasonal commitment period, aggregate maximum borrowings available under the Funding LP Series 2015-A Notes will revert to CAD $350 million (subject to borrowing base availability). U.K. Financing Facility In May 2018, Hertz U.K. Limited amended its credit agreement ("U.K. Financing Facility") to provide for aggregate maximum borrowing capacity (subject to asset availability) of up to £ 287.5 million during the peak rental season, and in July 2018, the U.K. Financing Facility was further amended to provide for aggregate maximum borrowing capacity (subject to asset availability) of up to £ 300 million during the peak rental season, for a seasonal commitment period through September 2018 . Following the expiration of the seasonal commitment period, aggregate maximum borrowings available under the U.K. Financing Facility will revert to £ 250 million (subject to asset availability). Borrowing Capacity and Availability Borrowing capacity and availability comes from the Company's "revolving credit facilities," which are a combination of variable funding asset-backed securitization facilities, cash-flow-based revolving credit facilities, asset-based revolving credit facilities and a standalone $400 million letter of credit facility (the "Letter of Credit Facility"). Creditors under each such asset-backed securitization facility and asset-based revolving credit facility have a claim on a specific pool of assets as collateral. The Company's ability to borrow under each such asset-backed securitization facility and asset-based revolving credit facility is a function of, among other things, the value of the assets in the relevant collateral pool. With respect to each such asset-backed securitization facility and asset-based revolving credit facility, the Company refers to the amount of debt it can borrow given a certain pool of assets as the borrowing base. The Company refers to "Remaining Capacity" as the maximum principal amount of debt permitted to be outstanding under the respective facility (i.e., with respect to a variable funding asset-backed securitization facility or asset-based revolving credit facility, the amount of debt the Company could borrow assuming it possessed sufficient assets as collateral) less the principal amount of debt then-outstanding under such facility. With respect to a variable funding asset-backed securitization facility or asset-based revolving credit facility, the Company refers to "Availability Under Borrowing Base Limitation" as the lower of Remaining Capacity or the borrowing base less the principal amount of debt then-outstanding under such facility (i.e., the amount of debt that can be borrowed given the collateral possessed at such time). With respect to the Senior RCF and the Letter of Credit Facility, "Availability Under Borrowing Base Limitation" is the same as "Remaining Capacity" since borrowings under the Senior RCF and the Letter of Credit Facility are not subject to a borrowing base. The following facilities were available to the Company as of June 30, 2018 , and are presented net of any outstanding letters of credit: (In millions) Remaining Availability Under Non-Vehicle Debt Senior RCF $ 502 $ 502 Letter of Credit Facility — — Total Non-Vehicle Debt 502 502 Vehicle Debt U.S. Vehicle RCF — — HVF II U.S. Vehicle Variable Funding Notes 607 — HFLF Variable Funding Notes 434 6 European Revolving Credit Facility 96 — European Securitization 41 — Canadian Securitization — — Australian Securitization 51 — U.K. Financing Facility — — New Zealand RCF 5 — Total Vehicle Debt 1,234 6 Total $ 1,736 $ 508 Letters of Credit As of June 30, 2018 , there were outstanding standby letters of credit totaling $676 million . As disclosed above, the Company terminated letters of credit issued under the Senior RCF and reissued such letters of credit under the Letter of Credit Facility. Issued letters of credit primarily support the Company's insurance programs, vehicle rental concessions and leaseholds as well as to provide credit enhancement for its asset-backed securitization facilities. Of this amount, $363 million was issued under the Senior RCF and $302 million was issued under the Letter of Credit Facility. As of June 30, 2018 , none of the issued letters of credit have been drawn upon. Special Purpose Entities Substantially all of the Company's revenue earning vehicles and certain related assets are owned by special purpose entities, or are encumbered in favor of the lenders under the various credit facilities, other secured financings and asset-backed securities programs. None of such assets (including the assets owned by Hertz Vehicle Financing II LP, Hertz Vehicle Financing LLC, Rental Car Finance LLC, DNRS II LLC, HFLF, Donlen Trust and various international subsidiaries that facilitate the Company's international securitizations) are available to satisfy the claims of general creditors. The Company has a 25% ownership interest in International Fleet Financing No. 2 B.V. ("IFF No. 2"), a special purpose entity whose sole purpose is to provide commitments to lend in various currencies subject to borrowing bases comprised of revenue earning vehicles and related assets of certain of Hertz International, Ltd.'s subsidiaries. IFF No. 2 is a variable interest entity and the Company is the primary beneficiary, therefore, the assets, liabilities, and results of operations of IFF No. 2 are included in the Company's unaudited condensed consolidated financial statements. As of June 30, 2018 and December 31, 2017 , IFF No. 2 had total assets of $696 million and $524 million , respectively, primarily comprised of loan receivables, and total liabilities of $696 million and $524 million , respectively, primarily comprised of debt and loan payables. Covenant Compliance The financial covenant provides that Hertz’s consolidated first lien net leverage ratio, as defined in the credit agreements governing the Senior RCF and the Letter of Credit Facility, as of the last day of any fiscal quarter following and including fiscal quarter ending December 31, 2017 (the "Covenant Leverage Ratio"), may not exceed a ratio of 3.00 to 1.00 . As of June 30, 2018 , Hertz was in compliance with the Covenant Leverage Ratio.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company recognizes two types of revenue; (i) revenue from contracts with customers, and (ii) lease revenue, which is generated through the fleet leasing operations of its Donlen subsidiary. As disclosed in the Revenue from Contracts with Customers section of Note 2 , “ Basis of Presentation and Recently Issued Accounting Pronouncements ” (" Note 2 "), the Company adopted Topic 606 in accordance with the effective date on January 1, 2018. Note 2 includes disclosures regarding the Company’s method of adoption and the impact on the Company’s financial position, results of operations and cash flows. In the Leases section of Note 2 , the Company discloses that it has concluded that revenue earned from vehicle rentals, and from other forms of rental related activities wherein an identified asset is transferred to the customer and the customer has the ability to control that asset, will be accounted for under Topic 842 upon its adoption. Until the Company adopts Topic 842, vehicle rental and rental related revenues are recognized in accordance with Topic 606. The Company recognizes revenue net of any taxes or non-concession fees collected from customers on behalf of governmental authorities. Revenue from Contracts with Customers The Company operates at airport rental locations in the U.S. and internationally ("airport") and at off airport locations also in the U.S. and internationally ("off airport"). For the Company's airport company-operated rental locations, the Company has obtained concessions or similar leasing agreements or arrangements, granting it the right to conduct a vehicle rental business at the respective airport. The terms of an airport concession typically require the Company to pay the airport's operator concession fees based upon a specified percentage of the revenues it generates at the airport, subject to a minimum annual guarantee. The terms of the Company's concessions typically do not forbid it from seeking, and in a few instances actually require it to seek, reimbursement from customers for concession fees it pays; however, in certain jurisdictions the law limits or forbids the Company from doing so. Where the Company is required or permitted to seek such reimbursement, it is its general practice to do so. The Company's airport rental customers are typically airline travelers; whereas the Company's off airport rental customers include people who prefer to rent vehicles closer to their home or place of work for business or leisure purposes, as well as those needing to travel to or from airports. The Company's off airport customers also include people who have been referred by, or whose rental costs are being wholly or partially reimbursed by, insurance companies following accidents in which their vehicles were damaged, those expecting to lease vehicles that are not yet available from their leasing companies and replacement renters. In addition, the Company's off airport customers include drivers for transportation network companies ("TNC"). The following table presents revenues from contracts with customers by reportable segment and disaggregated by product/service and type of location and customer: Three Months Ending June 30, 2018 (In millions) U.S. Rental Car International Rental Car All Other Operations Consolidated Vehicle rental and rental related: Airport $ 1,142 $ 332 $ — $ 1,474 Off airport 453 219 — 672 Total vehicle rental and rental related 1,595 551 — 2,146 Other: Licensee revenue 8 38 — 46 Ancillary retail vehicle sales 25 — — 25 Fleet management — — 10 10 Total other 33 38 10 81 Total revenue from contracts with customers $ 1,628 $ 589 $ 10 $ 2,227 Six Months Ending June 30, 2018 (In millions) U.S. Rental Car International Rental Car All Other Operations Consolidated Vehicle rental and rental related: Airport $ 2,124 $ 583 $ — $ 2,707 Off airport 865 404 — 1,269 Total vehicle rental and rental related 2,989 987 — 3,976 Other: Licensee revenue 14 70 — 84 Ancillary retail vehicle sales 51 — — 51 Fleet management — — 22 22 Total other 65 70 22 157 Total revenue from contracts with customers $ 3,054 $ 1,057 $ 22 $ 4,133 Vehicle Rental and Rental Related Revenues The Company recognizes revenue from its vehicle rental operations when persuasive evidence of a contract exists, the performance obligations have been satisfied, the transaction price is fixed or determinable and collection is reasonably assured. Performance obligations associated with vehicle rental transactions are satisfied over the rental period, except for the portion associated with loyalty points, as further described below. Rental periods are short term in nature. Therefore, the Company has elected to apply the practical expedient which eliminates the requirement to disclose information about remaining performance obligations. Performance obligations associated with rental related activities, such as charges to the customer for the fueling of vehicles and value-added services such as loss damage waivers, insurance products, navigation units, supplemental equipment and other consumables, are also satisfied over the rental period. Revenue from charges that are passed through to the customer, such as gasoline, vehicle licensing and airport concession fees, is recorded on a gross basis with a corresponding charge to direct vehicle and operating expense. Sales commissions paid to third parties are generally expensed when incurred due to the short-term nature of the related transaction on which the commission was earned and are recorded within selling, general and administrative expense. Payments are due from customers at the completion of the rental, except for customers with negotiated payment terms, generally net 30 days or less, which are invoiced and remain as accounts receivable until collected. Loyalty Programs - The Company offers loyalty programs, primarily Hertz Gold Plus Rewards, wherein customers are eligible to earn loyalty points that are redeemable for free rental days or can be converted to loyalty points for redemption of products and services under loyalty programs of other companies. Each transaction that generates loyalty points results in the deferral of revenue equivalent to the retail value of the redemption of the loyalty points. The associated revenue is recognized when the customer redeems the loyalty points at some point in the future. The retail value of loyalty points is estimated based on the expected retail value of the future vehicle rental to be provided less an estimated amount representing loyalty points that are not expected to be redeemed (“breakage”). Breakage is estimated on a quarterly basis and includes significant assumptions such as historical breakage trends and internal Company forecasts. During the three and six months ended June 30, 2018 , based on the net impact of loyalty points earned and redeemed by customers, the Company recognized $1 million and $4 million of revenue, respectively. As of June 30, 2018 , the value of unredeemed loyalty points is $261 million , which is recorded as a contract liability in accrued liabilities in the accompanying unaudited condensed consolidated balance sheet. Customer Rebates - The Company has business customers that rent vehicles based on terms that have been negotiated through contracts with their employers, or other entities with which they are associated (“commercial contracts”), which can differ substantially from the terms on which the Company rents vehicles to the general public. Some of the commercial contracts contain provisions which allow for rebates to the entity based on achieving a specific rental volume threshold. Rebates are treated as variable consideration and are recognized as a reduction of revenue at the time of the rental based on the rebate expected to be earned by the entity. Licensee Revenue The Company has franchise agreements which allow an independent entity to rent their vehicles under the Company’s brands, primarily Hertz, Dollar or Thrifty, for a fee (“franchise fee”). Franchise fees are earned over time for the duration of the franchise agreement and are typically based on the larger of a minimum payment or an amount representing a percentage of net sales of the franchised business. Franchise fees are recognized as earned and when collectability is reasonably assured. Franchise fees that relate to a future contract term, such as initial fees or renewal fees, are deferred and recognized over the term of the franchise agreement. The Company has elected to apply one of the practical expedients under Topic 606, and as such the value of unsatisfied performance obligations for sales-based royalty fees from franchisees is not disclosed. Ancillary Retail Vehicle Sales Revenue Ancillary retail vehicle sales represent revenues generated from the sale of warranty contracts, financing and title fees, and other ancillary services associated with vehicles disposed of at the Company’s retail outlets. These revenues are recorded at the point in time when the Company sells the product or provides the service to the customer. These revenues exclude the sale price of the vehicle which is a component of the gain or loss on the disposition and is included in depreciation of revenue earning vehicles and lease charges, net. Fleet Management Revenue The Company's Donlen subsidiary generates revenue from various fleet management services, such as fuel purchasing and management, preventive maintenance, repair consultation, toll management and accident management. Fleet management revenue is recognized net of any fees collected from customers on behalf of third party service providers, as services are rendered. Contract Balances The Company recognizes receivables and liabilities resulting from its contracts with customers. Contract receivables primarily consist of receivables from customers for vehicle rentals. Contract liabilities primarily consist of obligations to customers for prepaid vehicle rentals and related to the Company’s points-based loyalty programs. The contract liability balance as of June 30, 2018 is $412 million and is included in accrued liabilities in the accompanying unaudited condensed consolidated balance sheet. The contract liability as of January 1, 2018, after giving effect to the adoption of Topic 606, was $345 million and revenue recognized during the six months ended June 30, 2018 for such contract liabilities is $96 million . The contract liability as of March 31, 2018 was $388 million and revenue recognized during the three months ended June 30, 2018 for such contract liabilities is $87 million .

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit	6 Months Ended
	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Tax (Provision) Benefit	Income Tax (Provision) Benefit The Company recognized the income tax effects of the tax reform legislation commonly referred to as the Tax Cuts and Jobs Act ("TCJA") in its audited consolidated financial statements included in the Company’s 2017 Form 10‑K in accordance with Staff Accounting Bulletin No. 118, which provides SEC staff guidance for the application of Topic 740, Income Taxes, in the reporting period in which the TCJA was signed into law. The guidance also provides for a measurement period of up to one year from the enactment date for the Company to complete the accounting for the U.S. tax law changes. As such, the Company’s 2017 financial results reflected the provisional estimate of the income tax effects of the TCJA. No subsequent adjustments have been made to the amounts recorded as of December 31, 2017, which continue to represent a provisional estimate of the impact of TCJA. The estimate of the impact of TCJA is based on certain assumptions and the Company's current interpretation, and may change, as the Company receives additional clarification and implementation guidance and as the interpretation of the TCJA evolves over time. The Company continues to analyze the impact of TCJA provisions effective January 1, 2018. The income tax provision for the three and six months ended June 30, 2018 incorporates the TCJA's changes to deductions for executive compensation and meals and entertainment. Other provisions include global intangible low-tax income ("GILTI"), base erosion anti-avoidance tax ("BEAT"), and foreign-derived intangible income ("FDII"). As of June 30, 2018 , the Company estimates no short-to-medium term tax liability resulting from GILTI, BEAT, or FDII. These are estimates and are based on the Company's current interpretation of the TCJA. These assumptions and interpretations may change as additional clarification and implementation guidance are issued as the interpretation of the TCJA evolves over time. As such, the Company is still analyzing certain aspects of the Act and refining its estimate, which could potentially affect the measurement of deferred tax assets and liabilities or potentially give rise to new deferred tax amounts. Hertz Global The effective tax rate for the three months ended June 30, 2018 and 2017 is 27% and 36% , respectively. The effective tax rate for the six months ended June 30, 2018 and 2017 is 16% and 29% , respectively. The Company recorded a tax benefit of $23 million for the three months ended June 30, 2018 , compared to $87 million for the three months ended June 30, 2017 . The lower effective income tax rate and related tax benefit are primarily due to the reduced corporate tax rate as a result of the TCJA, reduced corporate losses, and the composition of earnings by jurisdictions, partially offset by the release of the valuation allowance on U.S. federal capital losses. The Company recorded a tax benefit of $52 million for the six months ended June 30, 2018 , compared to $158 million for the six months ended June 30, 2017 . The lower effective income tax rate and related tax benefit are primarily due to the reduced corporate tax rate as a result of the TCJA, reduced corporate losses, and the composition of earnings by jurisdictions, partially offset by the release of the valuation allowance on U.S. federal capital losses. Hertz The effective tax rate for the three months ended June 30, 2018 and 2017 is 27% and 35% , respectively. The effective tax rate for the six months ended June 30, 2018 and 2017 is 16% and 29% , respectively. The Company recorded a tax benefit of $23 million for the three months ended June 30, 2018 , compared to $86 million for the three months ended June 30, 2017 . The lower effective income tax rate and related tax benefit are primarily due to the reduced corporate tax rate as a result of the TCJA, reduced corporate losses, and the composition of earnings by jurisdictions, partially offset by the release of the valuation allowance on U.S. federal capital losses. The Company recorded a tax benefit of $51 million for the six months ended June 30, 2018 , compared to $157 million for the six months ended June 30, 2017 . The lower effective income tax rate and related tax benefit are primarily due to the reduced corporate tax rate as a result of the TCJA, reduced corporate losses, and the composition of earnings by jurisdictions, partially offset by the release of the valuation allowance on U.S. federal capital losses.

Earnings (Loss) Per Share - Her

Earnings (Loss) Per Share - Hertz Global	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings (Loss) Per Share - Hertz Global	Earnings (Loss) Per Share - Hertz Global Basic earnings (loss) per share has been computed based upon the weighted average number of common shares outstanding. Diluted earnings (loss) per share has been computed based upon the weighted average number of common shares outstanding plus the effect of all potentially dilutive common stock equivalents, except when the effect would be anti-dilutive. The following table sets forth the computation of basic and diluted earnings (loss) per share: Three Months Ended Six Months Ended (In millions, except per share data) 2018 2017 2018 2017 Basic and diluted earnings (loss) per share: Numerator: Net income (loss), basic and diluted $ (63 ) $ (158 ) $ (265 ) $ (381 ) Denominator: Basic weighted average common shares 84 83 83 83 Dilutive stock options, RSUs, PSUs and PSAs — — — — Weighted average shares used to calculate diluted earnings per share 84 83 83 83 Antidilutive stock options, RSUs, PSUs and PSAs 3 3 3 3 Earnings (loss) per share: Basic earnings (loss) per share $ (0.75 ) $ (1.90 ) $ (3.19 ) $ (4.59 ) Diluted earnings (loss) per share $ (0.75 ) $ (1.90 ) $ (3.19 ) $ (4.59 )

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
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 cash, restricted cash, accounts receivable, accounts payable and accrued expenses, 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, Restricted Cash Equivalents and Investments The Company’s cash equivalents and restricted cash equivalents primarily consist of investments in money market funds and time deposits. The Company determines the fair value of cash equivalents using a market approach based on quoted prices in active markets (Level 1 inputs). Investments in equity securities that are measured at fair value on a recurring basis consist of marketable securities. The following table summarizes the ending balances of the Company's cash equivalents, restricted cash equivalents and investments: June 30, 2018 December 31, 2017 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Money market funds and time deposits $ 485 $ — $ — $ 485 $ 634 $ — $ — $ 634 Equity securities 41 — — 41 — — — — Debt Obligations The fair value of debt is estimated based on quoted market rates as well as borrowing rates currently available to the Company for loans with similar terms and average maturities (Level 2 inputs). As of June 30, 2018 As of December 31, 2017 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Non-vehicle Debt $ 4,469 $ 4,154 $ 4,476 $ 4,438 Vehicle Debt 12,986 12,911 10,471 10,456 Total $ 17,455 $ 17,065 $ 14,947 $ 14,894 Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis In March 2017, as further described in Note 3 , " Acquisitions and Divestitures ," the Company determined it had an other than temporary loss in value of its equity method investment. In June 2017, as further described in Note 5 , " Intangible Asset Impairment ," the Company recorded impairment charges for the Dollar Thrifty tradename.

Contingencies and Off-Balance S

Contingencies and Off-Balance Sheet Commitments	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Off-Balance Sheet Commitments	Contingencies and Off-Balance Sheet Commitments Legal Proceedings Public Liability and Property Damage The Company is currently a defendant in numerous actions and has received numerous claims on which actions have not yet been commenced for public liability and property damage arising from the operation of motor vehicles rented from the Company. The obligation for public liability and property damage on self-insured U.S. and international vehicles, as stated on the accompanying unaudited condensed consolidated balance sheets, represents an estimate for both reported accident claims not yet paid and claims incurred but not yet reported. The related liabilities are recorded on a non-discounted basis. Reserve requirements are based on rental volume and actuarial evaluations of historical accident claim experience and trends, as well as future projections of ultimate losses, expenses, premiums and administrative costs. As of June 30, 2018 and December 31, 2017 , the Company's liability recorded for public liability and property damage matters is $421 million and $427 million , respectively. The Company believes that its analysis is based on the most relevant information available, combined with reasonable assumptions, and that the Company may prudently rely on this information to determine the estimated liability. The liability is subject to significant uncertainties. The adequacy of the liability reserve is regularly monitored based on evolving accident claim history and insurance related state legislation changes. If the Company's estimates change or if actual results differ from these assumptions, the amount of the recorded liability is adjusted to reflect these results. Other Matters From time to time the Company is a party to various legal proceedings, typically involving operational issues common to the vehicle rental business, including claims by employees and former employees, and governmental investigations. The Company has summarized below the most significant legal proceedings to which the Company was and/or is a party to during the six months ended June 30, 2018 or the period after June 30, 2018 , but before the filing of this Report on Form 10‑Q. In re Hertz Global Holdings, Inc. Securities Litigation - In November 2013, a purported shareholder class action, Pedro Ramirez, Jr. v. Hertz Global Holdings, Inc., et al., was commenced in the U.S. District Court for the District of New Jersey naming Old Hertz Holdings (as defined in the Company's 2017 Form 10‑K) and certain of its officers as defendants and alleging violations of the federal securities laws. The complaint alleged that Old Hertz Holdings made material misrepresentations and/or omissions of material fact in its public disclosures during the period from February 25, 2013 through November 4, 2013, in violation of Section 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder. The complaint sought an unspecified amount of monetary damages on behalf of the purported class and an award of costs and expenses, including counsel fees and expert fees. In June 2014, Old Hertz Holdings responded to the amended complaint by filing a motion to dismiss. After a hearing in October 2014, the court granted Old Hertz Holdings’ motion to dismiss the complaint. The dismissal was without prejudice and plaintiff was granted leave to file a second amended complaint within 30 days of the order. In November 2014, plaintiff filed a second amended complaint which shortened the putative class period such that it was not alleged to have commenced until May 18, 2013 and made allegations that were not substantively very different than the allegations in the prior complaint. In early 2015, this case was assigned to a new federal judge in the District of New Jersey, and Old Hertz Holdings responded to the second amended complaint by filing another motion to dismiss. On July 22, 2015, the court granted Old Hertz Holdings’ motion to dismiss without prejudice and ordered that plaintiff could file a third amended complaint on or before August 22, 2015. On August 21, 2015, plaintiff filed a third amended complaint. The third amended complaint included additional allegations, named additional current and former officers as defendants and expanded the putative class period such that it was alleged to span from February 14, 2013 to July 16, 2015. Plaintiffs filed a fourth amended complaint to add a new plaintiff on March 1, 2016. Old Hertz Holdings and the individual defendants moved to dismiss the fourth amended complaint in its entirety with prejudice on March 24, 2016, and plaintiff filed its opposition to same. The plaintiffs filed their Initial Brief in November 2017 and Old Hertz Holdings - joined by two of the individual defendants along with a separate brief by one of the individual defendants - filed Opposition Briefs in January 2018. The plaintiffs’ Reply Brief was thereafter filed in February of 2018. Oral arguments were requested and were held on June 12, 2018. The Company intends to assert that it has meritorious defenses in the foregoing matters and the Company intends to vigorously defend itself. Governmental Investigations - In June 2014, the Company was advised by the staff of the New York Regional Office of the Securities and Exchange Commission (“SEC”) that it is investigating the events disclosed in certain of the Company’s filings with the SEC. In addition, starting in June 2016 the Company has had communications with the U.S. Attorney’s Office for the District of New Jersey regarding the same or similar events. The investigations and communications generally involve the restatements included in the Old Hertz Holdings Form 10-K for the year ended December 31, 2014, as filed with the SEC on July 16, 2015 and related accounting for prior periods. The Company has and intends to continue to cooperate with all requests related to the foregoing. The Company is engaged in discussions with the enforcement staff of the New York office of the SEC ("Staff") to resolve certain matters under investigation. Any proposed settlement that might result from discussions with the Staff would be subject to additional reviews and approvals, including acceptance and authorization by the SEC. The Company cannot predict the ultimate timing or the final terms of a possible settlement, including any settlement amount. The Company has established an estimated range of probable loss, but given the uncertainties associated with the matters under discussion, the Company is unable to determine a best estimate within the range of loss. Therefore, during the three months ended June 30, 2018, the Company accrued a loss contingency equal to the minimum amount of the range of loss based on current circumstances. It is possible that an adverse outcome with respect to the restatement investigations and the other issues discussed herein could result in losses that exceed the accrual or the estimated range and could be material to the Company's consolidated financial condition, results of operations or cash flows in any particular reporting period. Additionally, the Company previously identified certain activities in Brazil that raised issues under the Foreign Corrupt Practices Act (the "FCPA") and other federal and local laws, which the Company self-reported to appropriate government entities. The matters associated with the FCPA and other federal matters have been resolved without further action by the applicable government entities. The Company is continuing its cooperation with respect to matters under local Brazilian laws. The Company had previously accrued a loss contingency with respect to the Brazil-related matters that was not material. Because of the resolution of these matters here in the U.S., during the three months ended June 30, 2018, the Company decreased the loss contingency accrual. However, it is possible that an adverse outcome with respect to the ongoing matters in Brazil could result in losses that could be material to the Company's consolidated financial condition, results of operations or cash flows in any particular reporting period. French Road Tax - The French Tax Authority has challenged the historic practice of several vehicle rental companies, including Hertz France, of registering vehicles in jurisdictions where it is established and where the road tax payable with respect to those vehicles is lower than the road tax payable in the jurisdictions where the vehicles will primarily be used. In respect of a period in 2005, the Company has unsuccessfully appealed the French Tax assessment to the highest Administrative court in France. In respect of a period from 2003 to 2005, following an adverse judgment, the Company appealed the French Tax Authority’s assessment to the Civil Court of Appeal. In March 2017, the Company received an adverse judgment in the 2003 -2005 road tax appeal from the Civil Court of Appeal. The Company appealed this decision to the Supreme Civil Court in May 2017. In December 2017, the French Tax Authority issued an assessment for registration tax for the year 2014 and the Company submitted a rebuttal to the French Tax Authority in February 2018. The Company began reserving for this matter in 2015 and assesses the reserve on a quarterly basis as part of the financial statements close process. In addition to the matters described above, the Company maintains an internal compliance program through which it from time to time identifies other potential violations of laws and regulations applicable to the Company. When the Company identifies such matters, the Company conducts an internal investigation and otherwise cooperates with governmental authorities, as appropriate. The Company has established reserves for matters where the Company believes that losses are probable and can be reasonably estimated. Other than the aggregate reserve established for claims for public liability and property damage, none of those reserves are material. For matters, including certain of those described above, where the Company has not established a reserve, the ultimate outcome or resolution cannot be predicted at this time, or the amount of ultimate loss, if any, cannot be reasonably estimated. These matters are subject to many uncertainties and the outcome of the individual litigated matters is not predictable with assurance. It is possible that certain of the actions, claims, inquiries or proceedings, including those discussed above, could be decided unfavorably to the Company or any of its subsidiaries involved. Accordingly, it is possible that an adverse outcome from such a proceeding could exceed the amount accrued in an amount that could be material to the accompanying consolidated financial condition, results of operations or cash flows in any particular reporting period. Indemnification Obligations In the ordinary course of business, the Company has executed contracts involving indemnification obligations customary in the relevant industry and indemnifications specific to a transaction such as the sale of a business. These indemnification obligations might include claims relating to the following: environmental matters; intellectual property rights; governmental regulations and employment-related matters; customer, supplier and other commercial contractual relationships; and financial matters. Specifically, 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. In addition, Hertz entered into customary indemnification agreements with Hertz Holdings and certain of the Company's stockholders and their affiliates pursuant to which Hertz Holdings and Hertz will indemnify those entities and their respective affiliates, directors, officers, partners, members, employees, agents, representatives and controlling persons, against certain liabilities arising out of performance of a consulting agreement with Hertz Holdings and each of such entities and certain other claims and liabilities, including liabilities arising out of financing arrangements or securities offerings. The Company has entered into customary indemnification agreements with each of its directors and certain of its officers. Performance under these indemnification obligations would generally be triggered by a breach of terms of the contract or by a third-party claim. In connection with the Spin-Off, the Company executed an agreement with Herc Holdings that contains mutual indemnification clauses and a customary indemnification provision with respect to liability arising out of or resulting from assumed legal matters. The Company regularly evaluates the probability of having to incur costs associated with these indemnification obligations and have accrued for expected losses that are probable and estimable.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Agreements with the Icahn Group In the normal course of business, the Company purchases goods and services and leases property from entities controlled by Carl C. Icahn and his affiliates, including The Pep Boys - Manny, Moe & Jack. During the three months ended June 30, 2018 and 2017 , the Company purchased approximately $11 million and $2 million , respectively, worth of goods and services from these related parties. During the six months ended June 30, 2018 and 2017 , the Company purchased approximately $17 million and $4 million , respectively, worth of goods and services from these related parties. In May 2018, the Company sold approximately $36 million of marketable securities to the Icahn Group at the then current market price of such securities. Transactions between Hertz Holdings and Hertz In June 2017, Hertz entered into a master loan agreement with Hertz Holdings for a facility size of $425 million with an expiration in June 2018 (the "2017 Master Loan"). The interest rate is based on the U.S. Dollar LIBOR rate plus a margin. In June 2018, upon expiration of the 2017 Master Loan, Hertz entered into a new master loan agreement with Hertz Holdings for a facility size of $425 million with an expiration in June 2019 (the "2018 Master Loan") where amounts outstanding under the 2017 Master Loan were transferred to the 2018 Master Loan. The interest rate is based on the U.S. Dollar LIBOR rate plus a margin. As of June 30, 2018 and December 31, 2017 , there was $113 million and $107 million , respectively, outstanding under the 2018 Master Loan representing advances and any accrued but unpaid interest. As of June 30, 2018 and December 31, 2017 , Hertz has a due to affiliate in the amount of $65 million , which represents its tax-related liability to Hertz Holdings. The above amounts are included in equity in the accompanying unaudited condensed consolidated balance sheets of Hertz. Other Relationships In January 2018, Hertz entered into a Master Motor Vehicle Lease and Management Agreement (the “767 Lease Agreement”) pursuant to which Hertz granted 767 Auto Leasing LLC (“767”), an entity affiliated with the Icahn Group, the option to acquire certain vehicles from Hertz at rates aligned with the rates at which Hertz sells vehicles to third parties. Hertz will lease the vehicles, purchased by 767 under the 767 Lease Agreement or from third parties, under a mutually developed fleet plan and Hertz will manage, service, repair, sell and maintain those leased vehicles on behalf of 767. Hertz will rent the leased vehicles to drivers of TNC, including Lyft drivers, from rental counters within locations leased or owned by affiliates of 767, including locations operated under a master lease agreement with The Pep Boys - Manny, Joe & Jack. The 767 Lease Agreement has an initial term of 18 months and is subject to automatic six-month renewals thereafter, unless terminated by either party (with or without cause) prior to the start of any such six-month renewal. 767’s payment obligations under the 767 Lease Agreement are guaranteed by American Entertainment Properties Corp., an entity affiliated with Mr. Icahn ("American"). American contributed $5 million to 767 in February 2018 and $5 million in May 2018. 767 commenced business in late-March 2018, and is still in the early stages of its operations. During the three and six months ended June 30, 2018, the Company sold 586 and 592 vehicles, respectively, to 767 for approximately $7 million with substantially all of the sales occurring in the three months ended June 30, 2018. The Company is entitled to 25% of the profit from the rental of the leased vehicles, as specified in the 767 Lease Agreement, which is variable and based primarily on the rental revenue, less certain costs, such as depreciation, licensing and maintenance expenses. The Company has determined that it is the primary beneficiary of 767 due to its power to direct the activities of 767 that most significantly impact 767's economic performance and the Company's obligation to absorb 25% of 767's gains/losses. Accordingly, 767 is consolidated by the Company as a VIE.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has identified three reportable segments, which are organized based on the products and services provided by its operating segments and the geographic areas in which its operating segments conduct business, as follows: • U.S. Rental Car ("U.S. RAC") - rental of vehicles (cars, crossovers and light trucks), as well as sales of value-added services, in the U.S. and consists of the Company's U.S. operating segment; • International Rental Car ("International RAC") - rental and leasing of vehicles (cars, vans, crossovers and light trucks), as well as sales of value-added services, internationally and consists of the Company's Europe and Other International operating segments, which are aggregated into a reportable segment based primarily upon similar economic characteristics, products and services, customers, delivery methods and general regulatory environments; • All Other Operations - primarily consists of the Company's Donlen business, which provides vehicle leasing and fleet management services, together with other business activities which represent less than 2% of revenues and expenses of the segment. In addition to the above reportable segments, the Company has corporate operations ("Corporate") which includes general corporate assets and expenses and certain interest expense (including net interest on non-vehicle debt). The following tables provide significant statement of operations and balance sheet information by segment for each of Hertz Global and Hertz, as well as adjusted pre-tax income (loss), the segment measure of profitability. Three Months Ended Six Months Ended (In millions) 2018 2017 2018 2017 Revenues U.S. Rental Car $ 1,628 $ 1,519 $ 3,054 $ 2,872 International Rental Car 589 543 1,057 955 All Other Operations 172 162 341 313 Total Hertz Global and Hertz $ 2,389 $ 2,224 $ 4,452 $ 4,140 Depreciation of revenue earning vehicles and lease charges, net U.S. Rental Car $ 447 $ 524 $ 881 $ 1,023 International Rental Car 112 100 214 185 All Other Operations 128 119 253 236 Total Hertz Global and Hertz $ 687 $ 743 $ 1,348 $ 1,444 Adjusted pre-tax income (loss) (a) U.S. Rental Car $ 24 $ (37 ) $ (24 ) $ (152 ) International Rental Car 74 56 69 52 All Other Operations 24 19 47 39 Corporate (143 ) (120 ) (289 ) (234 ) Total Hertz Global (21 ) (82 ) (197 ) (295 ) Corporate - Hertz 2 1 3 2 Total Hertz $ (19 ) $ (81 ) $ (194 ) $ (293 ) (In millions) June 30, 2018 December 31, 2017 Total Assets U.S. Rental Car $ 14,847 $ 12,785 International Rental Car 4,973 3,971 All Other Operations 1,759 1,700 Corporate 1,192 1,602 Total Hertz Global and Hertz $ 22,771 $ 20,058 (a) Adjusted pre-tax income (loss), the Company's segment profitability measure, is calculated as income (loss) before income taxes plus non-cash acquisition accounting charges, debt-related charges relating to the amortization and write-off of debt financing costs and debt discounts and premiums, goodwill, intangible and tangible asset impairments and write downs, information technology and finance transformation costs and certain other miscellaneous or non-recurring items. Reconciliations of adjusted pre-tax income (loss) by segment to consolidated amounts are summarized below. Hertz Global Three Months Ended Six Months Ended (In millions) 2018 2017 2018 2017 Adjusted pre-tax income (loss): U.S. Rental Car $ 24 $ (37 ) $ (24 ) $ (152 ) International Rental Car 74 56 69 52 All Other Operations 24 19 47 39 Total reportable segments 122 38 92 (61 ) Corporate (1) (143 ) (120 ) (289 ) (234 ) Adjusted pre-tax income (loss) (21 ) (82 ) (197 ) (295 ) Adjustments: Acquisition accounting (2) (15 ) (16 ) (30 ) (31 ) Debt-related charges (3) (13 ) (10 ) (26 ) (21 ) Loss on extinguishment of debt (4) (20 ) (8 ) (22 ) (8 ) Restructuring and restructuring related charges (5) (10 ) (5 ) (13 ) (13 ) Impairment charges and asset write-downs (6) — (86 ) — (116 ) Information technology and finance transformation costs (7) (29 ) (20 ) (51 ) (39 ) Other (8) 22 (18 ) 22 (16 ) Income (loss) before income taxes $ (86 ) $ (245 ) $ (317 ) $ (539 ) Hertz Three Months Ended Six Months Ended (In millions) 2018 2017 2018 2017 Adjusted pre-tax income (loss): U.S. Rental Car $ 24 $ (37 ) $ (24 ) $ (152 ) International Rental Car 74 56 69 52 All Other Operations 24 19 47 39 Total reportable segments 122 38 92 (61 ) Corporate (1) (141 ) (119 ) (286 ) (232 ) Adjusted pre-tax income (loss) (19 ) (81 ) (194 ) (293 ) Adjustments: Acquisition accounting (2) (15 ) (16 ) (30 ) (31 ) Debt-related charges (3) (13 ) (10 ) (26 ) (21 ) Loss on extinguishment of debt (4) (20 ) (8 ) (22 ) (8 ) Restructuring and restructuring related charges (5) (10 ) (5 ) (13 ) (13 ) Impairment charges and asset write-downs (6) — (86 ) — (116 ) Information technology and finance transformation costs (7) (29 ) (20 ) (51 ) (39 ) Other (8) 22 (18 ) 22 (16 ) Income (loss) before income taxes $ (84 ) $ (244 ) $ (314 ) $ (537 ) (1) Represents general corporate expenses, non-vehicle interest expense, as well as other business activities. (2) Represents incremental expense associated with amortization of other intangible assets and depreciation of property and equipment relating to acquisition accounting. (3) Primarily represents debt-related charges relating to the amortization of deferred financing costs and debt discounts and premiums. (4) In 2018, primarily represents $20 million of early redemption premium and write-off of deferred financing costs associated with the full redemption of the 4.375 % European Vehicle Senior Notes due January 2019 in April 2018. In 2017, represents $6 million of early redemption premium and write-off of deferred financing costs associated with the redemption of certain notes and a $2 million write-off of deferred financing costs associated with the termination of commitments under the Senior RCF. (5) Represents charges incurred under restructuring actions as defined in U.S. GAAP, excluding impairments and asset write-downs, which are shown separately in the table. Also includes restructuring related charges such as incremental costs incurred directly supporting business transformation initiatives. Such costs include transition costs incurred in connection with business process outsourcing arrangements and incremental costs incurred to facilitate business process re-engineering initiatives that involve significant organization redesign and extensive operational process changes. Also includes consulting costs, legal fees and other expenses related to the previously disclosed accounting review and investigation. (6) In 2017, represents a second quarter $86 million impairment of the Dollar Thrifty tradename and a first quarter impairment of $30 million related to an equity method investment. (7) Represents costs associated with the Company’s information technology and finance transformation programs, both of which are multi-year initiatives to upgrade and modernize the Company’s systems and processes. (8) Represents miscellaneous or non-recurring items. In 2018, includes a $17 million gain on marketable securities and a $6 million legal settlement received in the second quarter related to an oil spill in the Gulf of Mexico in 2010. In 2017, includes first and second quarter adjustments, as applicable, to the carrying value of the Company's previous Brazil operations and second quarter charges of $6 million for labor-related matters and $5 million relating to PLPD as a result of a terrorist event.

Guarantor and Non-Guarantor Con

Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz	6 Months Ended
	Jun. 30, 2018
Guarantor and Non-Guarantor Condensed Consolidating Financial Statements Disclosure [Abstract]
Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz	Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz The following condensed consolidating financial information presents the Condensed Consolidating Balance Sheets as of June 30, 2018 and December 31, 2017 , the Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) for the three and six months ended June 30, 2018 and 2017 and the Statements of Cash Flows for the six months ended June 30, 2018 and 2017 of (a) The Hertz Corporation, ("Parent”); (b) the Parent's subsidiaries that guarantee the Senior Notes issued by the Parent ("Guarantor Subsidiaries"); (c) the Parent's subsidiaries that do not guarantee the Senior Notes issued by the Parent ("Non-Guarantor Subsidiaries"); (d) elimination entries necessary to consolidate the Parent with the Guarantor Subsidiaries and Non-Guarantor Subsidiaries ("Eliminations"); and of (e) Hertz on a consolidated basis. Investments in subsidiaries are accounted for using the equity method for purposes of the consolidating presentation. The principal elimination entries relate to investments in subsidiaries and intercompany balances and transactions. The Guarantor Subsidiaries are 100% owned by the Parent and all guarantees are full and unconditional and joint and several. Additionally, substantially all of the assets of the Guarantor Subsidiaries are pledged under the Senior Facilities and Senior Second Priority Secured Notes, and consequently will not be available to satisfy the claims of Hertz's general creditors. In lieu of providing separate unaudited financial statements for the Guarantor Subsidiaries, Hertz has included the accompanying condensed consolidating financial statements based on Rule 3-10 of the SEC's Regulation S-X. Management of Hertz does not believe that separate financial statements of the Guarantor Subsidiaries are material to Hertz's investors; therefore, separate financial statements and other disclosures concerning the Guarantor Subsidiaries are not presented. During the preparation of the condensed consolidating financial information of The Hertz Corporation and Subsidiaries as of and for the year ended December 31, 2017, it was determined that there were classification errors within the investing section of the statements of cash flows that resulted in overstatement of capital contributions to subsidiaries and return of capital from subsidiaries for the Parent and classification errors within the financing section of the statements of cash flows that resulted in overstatement of capital contributions received from parent and payment of dividends and returns of capital for the Non-Guarantor Subsidiaries. The overstatement was $159 million for the six months ended June 30, 2017 . The errors, which the Company has determined are not material to this disclosure, had no impact to cash from investing activities for the Parent or cash from financing activities of the Non-Guarantor Subsidiaries, and had no impact to any cash flows of the Guarantor Subsidiaries. These errors are eliminated in consolidation and therefore have no impact on the Company’s unaudited condensed consolidated financial condition, results of operations or cash flows. The Company has revised the Condensed Consolidating Statements of Cash Flows for the Parent, Non-Guarantor Subsidiaries and Eliminations for the six months ended June 30, 2017 to correct for these errors. THE HERTZ CORPORATION CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2018 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries ASSETS Cash and cash equivalents $ 393 $ 6 $ 286 $ — $ 685 Restricted cash and cash equivalents 71 9 156 — 236 Total cash, cash equivalents, restricted cash and restricted cash equivalents 464 15 442 — 921 Receivables, net of allowance 468 163 795 — 1,426 Due from affiliates 3,565 5,070 8,852 (17,487 ) — Prepaid expenses and other assets 4,367 40 301 (3,786 ) 922 Revenue earning vehicles, net 402 2 14,013 — 14,417 Property and equipment, net 606 63 133 — 802 Investment in subsidiaries, net 7,767 1,298 — (9,065 ) — Other intangible assets, net 128 3,065 7 — 3,200 Goodwill 102 943 38 — 1,083 Total assets $ 17,869 $ 10,659 $ 24,581 $ (30,338 ) $ 22,771 LIABILITIES AND STOCKHOLDER'S EQUITY Due to affiliates $ 10,843 $ 2,328 $ 4,316 $ (17,487 ) $ — Accounts payable 466 115 910 — 1,491 Accrued liabilities 685 69 404 — 1,158 Accrued taxes, net 76 18 2,466 (2,398 ) 162 Debt 4,563 — 12,801 — 17,364 Public liability and property damage 178 41 202 — 421 Deferred income taxes, net — 1,485 1,010 (1,388 ) 1,107 Total liabilities 16,811 4,056 22,109 (21,273 ) 21,703 Stockholder's equity: Total stockholder's equity attributable to Hertz 1,058 6,603 2,462 (9,065 ) 1,058 Non-controlling interest — — 10 — 10 Total stockholder's equity 1,058 6,603 2,472 (9,065 ) 1,068 Total liabilities and stockholder's equity $ 17,869 $ 10,659 $ 24,581 $ (30,338 ) $ 22,771 THE HERTZ CORPORATION CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2017 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries ASSETS Cash and cash equivalents $ 686 $ 9 $ 377 $ — $ 1,072 Restricted cash and cash equivalents 225 7 200 — 432 Total cash, cash equivalents, restricted cash and restricted cash equivalents 911 16 577 — 1,504 Receivables, net of allowance 366 167 832 — 1,365 Due from affiliates 3,373 4,567 8,794 (16,734 ) — Prepaid expenses and other assets 3,747 37 302 (3,399 ) 687 Revenue earning vehicles, net 352 2 10,982 — 11,336 Property and equipment, net 639 61 140 — 840 Investment in subsidiaries, net 7,966 1,265 — (9,231 ) — Other intangible assets, net 141 3,091 10 — 3,242 Goodwill 102 944 38 — 1,084 Total assets $ 17,597 $ 10,150 $ 21,675 $ (29,364 ) $ 20,058 LIABILITIES AND STOCKHOLDER'S EQUITY Due to affiliates $ 10,368 $ 2,156 $ 4,210 $ (16,734 ) $ — Accounts payable 375 92 479 — 946 Accrued liabilities 473 73 374 — 920 Accrued taxes, net 77 21 2,235 (2,173 ) 160 Debt 4,619 — 10,246 — 14,865 Public liability and property damage 165 37 225 — 427 Deferred income taxes, net — 1,451 995 (1,226 ) 1,220 Total liabilities 16,077 3,830 18,764 (20,133 ) 18,538 Stockholder's equity: Total stockholder's equity 1,520 6,320 2,911 (9,231 ) 1,520 Total liabilities and stockholder's equity $ 17,597 $ 10,150 $ 21,675 $ (29,364 ) $ 20,058 THE HERTZ CORPORATION CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Three Months Ended June 30, 2018 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Total revenues $ 1,193 $ 368 $ 2,129 $ (1,301 ) $ 2,389 Expenses: Direct vehicle and operating 839 182 328 — 1,349 Depreciation of revenue earning vehicles and lease charges, net 1,220 98 670 (1,301 ) 687 Selling, general and administrative 179 16 70 — 265 Interest (income) expense, net 100 (37 ) 135 — 198 Other (income) expense, net (25 ) — (1 ) — (26 ) Total expenses 2,313 259 1,202 (1,301 ) 2,473 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (1,120 ) 109 927 — (84 ) Income tax (provision) benefit 235 (21 ) (191 ) — 23 Equity in earnings (losses) of subsidiaries, net of tax 824 34 — (858 ) — Net income (loss) (61 ) 122 736 (858 ) (61 ) Other comprehensive income (loss), net of tax (14 ) (3 ) (14 ) 17 (14 ) Comprehensive income (loss) $ (75 ) $ 119 $ 722 $ (841 ) $ (75 ) THE HERTZ CORPORATION CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Three Months Ended June 30, 2017 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Total revenues $ 1,170 $ 354 $ 1,871 $ (1,171 ) $ 2,224 Expenses: Direct vehicle and operating 741 181 333 — 1,255 Depreciation of revenue earning vehicles and lease charges, net 1,024 113 714 (1,108 ) 743 Selling, general and administrative 156 8 59 — 223 Interest (income) expense, net 101 (25 ) 81 — 157 Intangible asset impairments — 86 — — 86 Other (income) expense, net — — 4 — 4 Total expenses 2,022 363 1,191 (1,108 ) 2,468 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (852 ) (9 ) 680 (63 ) (244 ) Income tax (provision) benefit 358 1 (273 ) — 86 Equity in earnings (losses) of subsidiaries, net of tax 336 30 — (366 ) — Net income (loss) (158 ) 22 407 (429 ) (158 ) Other comprehensive income (loss), net of tax (7 ) 3 (8 ) 5 (7 ) Comprehensive income (loss) $ (165 ) $ 25 $ 399 $ (424 ) $ (165 ) THE HERTZ CORPORATION CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Six Months Ended June 30, 2018 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Total revenues $ 2,249 $ 687 $ 3,618 $ (2,102 ) $ 4,452 Expenses: Direct vehicle and operating 1,590 354 641 — 2,585 Depreciation of revenue earning vehicles and lease charges, net 1,985 182 1,283 (2,102 ) 1,348 Selling, general and administrative 340 28 130 — 498 Interest (income) expense, net 204 (70 ) 230 — 364 Intangible asset impairments — — — — — Other (income) expense, net (27 ) — (2 ) — (29 ) Total expenses 4,092 494 2,282 (2,102 ) 4,766 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (1,843 ) 193 1,336 — (314 ) Income tax (provision) benefit 356 (35 ) (270 ) — 51 Equity in earnings (losses) of subsidiaries, net of tax 1,224 58 — (1,282 ) — Net income (loss) (263 ) 216 1,066 (1,282 ) (263 ) Other comprehensive income (loss), net of tax (17 ) (5 ) (17 ) 22 (17 ) Comprehensive income (loss) $ (280 ) $ 211 $ 1,049 $ (1,260 ) $ (280 ) THE HERTZ CORPORATION CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Six Months Ended June 30, 2017 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Total revenues $ 2,220 $ 661 $ 3,248 $ (1,989 ) $ 4,140 Expenses: Direct vehicle and operating 1,429 350 608 — 2,387 Depreciation of revenue earning vehicles and lease charges, net 1,761 215 1,335 (1,867 ) 1,444 Selling, general and administrative 306 19 117 — 442 Interest (income) expense, net 183 (47 ) 151 — 287 Intangible asset impairments — 86 — — 86 Other (income) expense, net 33 — (2 ) — 31 Total expenses 3,712 623 2,209 (1,867 ) 4,677 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (1,492 ) 38 1,039 (122 ) (537 ) Income tax (provision) benefit 572 (14 ) (401 ) — 157 Equity in earnings (losses) of subsidiaries, net of tax 540 62 — (602 ) — Net income (loss) (380 ) 86 638 (724 ) (380 ) Other comprehensive income (loss), net of tax 6 3 4 (7 ) 6 Comprehensive income (loss) $ (374 ) $ 89 $ 642 $ (731 ) $ (374 ) THE HERTZ CORPORATION CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2018 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Net cash provided by (used in) operating activities $ (34 ) $ 5 $ 2,093 $ (1,119 ) $ 945 Cash flows from investing activities: Revenue earning vehicles expenditures (213 ) — (7,397 ) — (7,610 ) Proceeds from disposal of revenue earning vehicles 96 — 3,558 — 3,654 Capital asset expenditures, non-vehicle (54 ) (6 ) (20 ) — (80 ) Proceeds from disposal of property and other equipment 3 — 5 — 8 Purchases of marketable securities (60 ) — (1 ) — (61 ) Sales of marketable securities 36 — — — 36 Other — — (2 ) — (2 ) Capital contributions to subsidiaries (1,978 ) — — 1,978 — Return of capital from subsidiaries 1,900 — — (1,900 ) — Loan to Parent/Guarantor from Non-Guarantor — — 76 (76 ) — Net cash provided by (used in) investing activities (270 ) (6 ) (3,781 ) 2 (4,055 ) Cash flows from financing activities: Proceeds from issuance of vehicle debt 1,172 — 8,242 — 9,414 Repayments of vehicle debt (1,226 ) — (5,603 ) — (6,829 ) Proceeds from issuance of non-vehicle debt 187 — — — 187 Repayments of non-vehicle debt (194 ) — — — (194 ) Payment of financing costs (1 ) — (26 ) — (27 ) Early redemption premium payment — — (19 ) — (19 ) Advances to Hertz Holdings (6 ) — — — (6 ) Other 1 — 10 — 11 Capital contributions received from parent — — 1,978 (1,978 ) — Payment of dividends and return of capital — — (3,019 ) 3,019 — Loan to Parent/Guarantor from Non-Guarantor (76 ) — — 76 — Net cash provided by (used in) financing activities (143 ) — 1,563 1,117 2,537 Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents — — (10 ) — (10 ) Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period (447 ) (1 ) (135 ) — (583 ) Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 911 16 577 — 1,504 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ 464 $ 15 $ 442 $ — $ 921 THE HERTZ CORPORATION CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2017 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Net cash provided by (used in) operating activities $ (396 ) $ 15 $ 2,168 $ (822 ) $ 965 Cash flows from investing activities: Revenue earning vehicles expenditures (171 ) (5 ) (6,533 ) — (6,709 ) Proceeds from disposal of revenue earning vehicles 91 — 3,744 — 3,835 Capital asset expenditures, non-vehicle (56 ) (5 ) (23 ) — (84 ) Proceeds from disposal of property and other equipment 6 — 5 — 11 Sales of marketable securities — — 9 — 9 Other — — (2 ) — (2 ) Capital contributions to subsidiaries (1,260 ) — — 1,260 — Return of capital from subsidiaries 1,739 — — (1,739 ) — Loan to Parent/Guarantor from Non-Guarantor — — 431 (431 ) — Net cash provided by (used in) investing activities 349 (10 ) (2,369 ) (910 ) (2,940 ) Cash flows from financing activities: Proceeds from issuance of vehicle debt 631 — 4,397 — 5,028 Repayments of vehicle debt (657 ) — (3,008 ) — (3,665 ) Proceeds from issuance of non-vehicle debt 2,100 — — — 2,100 Repayments of non-vehicle debt (354 ) — — — (354 ) Payment of financing costs (16 ) (4 ) (14 ) — (34 ) Advances to Hertz Holdings (3 ) — — — (3 ) Early redemption premium payment (5 ) — — — (5 ) Capital contributions received from parent — — 1,260 (1,260 ) — Payment of dividends and return of capital — — (2,561 ) 2,561 — Loan to Parent/Guarantor from Non-Guarantor (431 ) — — 431 — Net cash provided by (used in) financing activities 1,265 (4 ) 74 1,732 3,067 Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents — — 17 — 17 Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period 1,218 1 (110 ) — 1,109 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 511 17 566 — 1,094 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ 1,729 $ 18 $ 456 $ — $ 2,203

Basis of Presentation and Rec21

Basis of Presentation and Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of Consolidation The unaudited condensed consolidated financial statements of Hertz Global include the accounts of Hertz Global and its wholly owned and majority owned U.S. and international subsidiaries. The unaudited condensed consolidated financial statements of Hertz include the accounts of Hertz and its wholly owned and majority owned U.S. and international subsidiaries. The Company is the primary beneficiary of certain variable interest entities, therefore, the assets, liabilities, results of operations and cash flows of the variable interest entities are included in the Company's unaudited condensed consolidated financial statements. The Company accounts for its investment 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	The impact to the unaudited condensed consolidated statement of cash flows of adopting this guidance is as follows: Hertz Global Six Months Ended June 30, 2017 (In millions) As Previously Reported Adjustments As Adjusted Net change in restricted cash and cash equivalents, vehicle $ 55 $ (55 ) $ — Net cash provided by (used in) investing activities (a) (2,885 ) (55 ) (2,940 ) Net change in restricted cash and cash equivalents, non-vehicle (834 ) 834 — Net cash provided by (used in) financing activities 2,235 834 3,069 Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash 12 5 17 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 816 278 1,094 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 1,141 1,062 2,203 Hertz Six Months Ended June 30, 2017 (In millions) As Previously Reported Adjustments As Adjusted Net change in restricted cash and cash equivalents, vehicle $ 55 $ (55 ) $ — Net cash provided by (used in) investing activities (a) (2,885 ) (55 ) (2,940 ) Net change in restricted cash and cash equivalents, non-vehicle (834 ) 834 — Net cash provided by (used in) financing activities 2,233 834 3,067 Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash 12 5 17 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 816 278 1,094 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 1,141 1,062 2,203 (a) Amount previously reported includes the $19 million revision to correct for an error as disclosed above in "Correction of Errors." Recently Issued Accounting Pronouncements Adopted Revenue from Contracts with Customers In May 2014, the Financial Accounting Standards Board (the "FASB") issued guidance that replaced most existing revenue recognition guidance in U.S. GAAP. The FASB also issued several amendments and updates to the new revenue standard (collectively, “Topic 606”). Topic 606 applies to all contracts with customers except for leases, insurance contracts, financial instruments, certain nonmonetary exchanges and certain guarantees. The core principle of Topic 606 is that an entity should recognize revenue from customers for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services, as well as when an entity should recognize revenue gross as a principal or net as an agent and how an entity should identify performance obligations. Topic 606 requires disclosures about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. The Company adopted Topic 606 on the effective date, January 1, 2018, using a modified retrospective approach applied to all contracts. Prior periods have not been retrospectively adjusted. The impact to the Company’s financial position, results of operations and cash flows is primarily for revenue associated with the redemption of points earned by customers under the Company’s loyalty programs (“loyalty points”). For transactions that generate loyalty points to the customer, a portion of revenue is deferred until the loyalty points are redeemed by the customer. The amount of revenue deferred is equivalent to the retail value of each loyalty point less an estimated amount representing loyalty points that are not expected to be redeemed. The cumulative effect of applying the new guidance to all contracts with customers that were not completed as of January 1, 2018 has been recorded as an adjustment to accumulated deficit, net of tax, as of the adoption date as follows: Hertz Global (In millions) Deferred income taxes, net Accrued liabilities Total liabilities Accumulated deficit Total equity Total liabilities and equity As of December 31, 2017 $ 1,220 $ 920 $ 18,538 $ (506 ) $ 1,520 $ 20,058 Effect of Adopting ASC 606 (51 ) 240 189 (189 ) (189 ) — As of January 1, 2018 $ 1,169 $ 1,160 $ 18,727 $ (695 ) $ 1,331 $ 20,058 Hertz (In millions) Deferred income taxes, net Accrued liabilities Total liabilities Accumulated deficit Total equity Total liabilities and equity As of December 31, 2017 $ 1,220 $ 920 $ 18,538 $ (1,486 ) $ 1,520 $ 20,058 Effect of Adopting ASC 606 (51 ) 240 189 (189 ) (189 ) — As of January 1, 2018 $ 1,169 $ 1,160 $ 18,727 $ (1,675 ) $ 1,331 $ 20,058 As disclosed above, the Company adopted Topic 606 on a modified retrospective basis, therefore, historical financial information has not been restated for comparative purposes and continues to be reported under the accounting standards in effect for those periods (“legacy guidance”). The following table presents the amounts for line items in the Company’s unaudited condensed consolidated balance sheet, statement of operations and cash flows impacted by the adoption of Topic 606 as compared to the amounts that would have been recognized in accordance with legacy guidance. The impact to the Company's unaudited condensed consolidated statement of comprehensive income (loss) is comprised solely of the impact to net income (loss) as shown in the table below: Hertz Global (In millions, except per share data) As Reported Effect of Adoption Increase (Decrease) Balances Without Adoption Unaudited Condensed Consolidated Balance Sheet as of June 30, 2018: Accrued liabilities $ 1,158 $ 239 $ 919 Deferred income taxes, net 1,106 (53 ) 1,159 Total liabilities 21,702 186 21,516 Accumulated deficit (960 ) (186 ) (774 ) Total stockholders' equity 1,069 (186 ) 1,255 Unaudited Condensed Consolidated Statement of Operations for the Three Months Ended June 30, 2018: Worldwide vehicle rental revenues $ 2,217 $ (2 ) $ 2,219 Selling, general and administrative expense 265 (1 ) 266 Income (loss) before income taxes (86 ) (1 ) (85 ) Income tax (provision) benefit 23 2 21 Net income (loss) (63 ) 1 (64 ) Basic earnings (loss) per share (0.75 ) 0.01 (0.76 ) Diluted earnings (loss) per share (0.75 ) 0.01 (0.76 ) Unaudited Condensed Consolidated Statement of Operations for the Six Months Ended June 30, 2018: Worldwide vehicle rental revenues $ 4,111 $ 1 $ 4,110 Selling, general and administrative expense 498 — 498 Income (loss) before income taxes (317 ) 1 (318 ) Income tax (provision) benefit 52 2 50 Net income (loss) (265 ) 3 (268 ) Basic earnings (loss) per share (3.19 ) 0.04 (3.23 ) Diluted earnings (loss) per share (3.19 ) 0.04 (3.23 ) Unaudited Condensed Consolidated Statement of Cash Flow for the Six Months Ended June 30, 2018: Cash flows from operating activities: Net income (loss) $ (265 ) $ 3 $ (268 ) Deferred income taxes, net (74 ) (2 ) (72 ) Accrued liabilities 5 (1 ) 6 Hertz (In millions, except per share data) As Reported Effect of Adoption Increase (Decrease) Balances Without Adoption Unaudited Condensed Consolidated Balance Sheet as of June 30, 2018: Accrued liabilities $ 1,158 $ 239 $ 919 Deferred income taxes, net 1,107 (53 ) 1,160 Total liabilities 21,703 186 21,517 Accumulated deficit (1,938 ) (186 ) (1,752 ) Total stockholders' equity 1,068 (186 ) 1,254 Unaudited Condensed Consolidated Statement of Operations for the Three Months Ended June 30, 2018: Worldwide vehicle rental revenues $ 2,217 $ (2 ) $ 2,219 Selling, general and administrative expense 265 (1 ) 266 Income (loss) before income taxes (84 ) (1 ) (83 ) Income tax (provision) benefit 23 2 21 Net income (loss) (61 ) 1 (62 ) Unaudited Condensed Consolidated Statement of Operations for the Six Months Ended June 30, 2018: Worldwide vehicle rental revenues $ 4,111 $ 1 $ 4,110 Selling, general and administrative expense 498 — 498 Income (loss) before income taxes (314 ) 1 (315 ) Income tax (provision) benefit 51 2 49 Net income (loss) (263 ) 3 (266 ) Unaudited Condensed Consolidated Statement of Cash Flow for the Six Months Ended June 30, 2018: Cash flows from operating activities: Net income (loss) $ (263 ) $ 3 $ (266 ) Deferred income taxes, net (73 ) (2 ) (71 ) Accrued liabilities 5 (1 ) 6 See Note 7 , " Revenue ," for information regarding the Company’s accounting policies for revenue recognition, including the nature, amount, timing, and uncertainty of revenue and cash flows arising from contracts with customers, as well as other required disclosures under Topic 606. Restricted Cash In November 2016, the FASB issued guidance that clarifies existing guidance on the classification and presentation of restricted cash in the statement of cash flows. The guidance requires entities to show the changes in the total of cash, cash equivalents, restricted cash and restricted cash equivalents in the statement of cash flows. Additionally, entities will no longer present transfers between cash and cash equivalents and restricted cash and restricted cash equivalents in the statement of cash flows. The Company adopted this guidance retrospectively in accordance with the effective date on January 1, 2018. Adoption of this guidance had no impact on the Company's financial position or results of operations. The impact to the unaudited condensed consolidated statement of cash flows of adopting this guidance is as follows: Hertz Global Six Months Ended June 30, 2017 (In millions) As Previously Reported Adjustments As Adjusted Net change in restricted cash and cash equivalents, vehicle $ 55 $ (55 ) $ — Net cash provided by (used in) investing activities (a) (2,885 ) (55 ) (2,940 ) Net change in restricted cash and cash equivalents, non-vehicle (834 ) 834 — Net cash provided by (used in) financing activities 2,235 834 3,069 Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash 12 5 17 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 816 278 1,094 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 1,141 1,062 2,203 Hertz Six Months Ended June 30, 2017 (In millions) As Previously Reported Adjustments As Adjusted Net change in restricted cash and cash equivalents, vehicle $ 55 $ (55 ) $ — Net cash provided by (used in) investing activities (a) (2,885 ) (55 ) (2,940 ) Net change in restricted cash and cash equivalents, non-vehicle (834 ) 834 — Net cash provided by (used in) financing activities 2,233 834 3,067 Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash 12 5 17 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 816 278 1,094 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period 1,141 1,062 2,203 (a) Amount previously reported includes the $19 million revision to correct for an error as disclosed above in "Correction of Errors." Not Yet Adopted Leases In February 2016, the FASB issued guidance that replaces the existing lease guidance in U.S. GAAP. The new guidance ("Topic 842") establishes a right-of-use (“ROU”) model that requires a lessee to record on the balance sheet a ROU asset and corresponding lease liability based on the present value of future lease payments for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. Topic 842 also expands the requirements for lessees to record leases embedded in other arrangements. Additionally, enhanced quantitative and qualitative disclosures surrounding leases are required which provide financial statement users the ability to assess the amount, timing and uncertainty of cash flows arising from leases. Topic 842 is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods with early adoption permitted. The Company intends to adopt this guidance, in accordance with the effective date, on January 1, 2019. A modified retrospective transition approach is required for both lessees and lessors for existing leases at, or entered into after, the beginning of the earliest comparative period presented in the financial statements. The Company intends to avail itself of the allowable practical expedients for existing or expired contracts of lessees and lessors wherein the Company would not be required to reassess whether such contracts contain leases, the lease classification or the initial direct costs. Additionally, with respect to its real estate leases, the Company intends to avail itself of the practical expedient for lessees which allows it to elect an accounting policy by class of underlying asset to combine lease and non-lease components. The Company does not intend to utilize the practical expedient which allows the use of hindsight by lessees and lessors in determining the lease term and in assessing impairment of its ROU assets. The Company is in the process of evaluating whether to avail itself of other allowable practicable expedients during transition. In July 2018, the FASB issued guidance related to Topic 842 that provides an additional transition method that would allow the Company to only apply the new lease standard in the year of adoption. Additionally, the guidance provides a practical expedient for lessors that would allow the Company to elect as an accounting policy, by class of underlying asset, to combine non-lease components with the related lease components, if certain conditions are met. This could allow the Company to account for all revenue earned from the operations of rental vehicles and from other forms of rental related activities under the new lease guidance. The Company plans to adopt the new transition method which allows the application of the standard at the adoption date, January 1, 2019, and will recognize a cumulative-effect adjustment to the opening balances of retained earnings in the period of adoption. The Company is in the process of evaluating the new guidance related to the practical expedient. Lessee Adoption of Topic 842 will result in a material increase in the Company's lease-related assets and liabilities on its balance sheet, primarily for leases of rental locations and other assets. Additionally, adoption of this guidance will impact the statement of cash flows with respect to the presentation of the Company's operating activities, but is not expected to impact its presentation of investing or financing activities. Adoption of Topic 842 is not expected to have a material impact on the Company’s results of operations. The Company has reached conclusions on key accounting assessments related to its leases which includes an accounting policy election to not recognize ROU assets or lease liabilities for short-term leases (i.e. those with a term of 12 months or less). The Company is performing an analysis of its lease portfolio to ensure proper application of the new guidance including implementation of internal controls over financial reporting. Lessor The Company has concluded that revenue earned from the rental and leasing of vehicles and from other forms of rental related activities wherein an identified asset is transferred to the customer and the customer has the ability to control that asset is within the scope of this guidance and that additional disclosures regarding lease revenue are required upon adoption. The Company is in the process of evaluating the breakdown of its vehicle rental revenues into lease and non-lease components. There is no impact to the nature, timing or recognition of rental lease revenue upon adoption of this guidance. Reporting Comprehensive Income In February 2018, the FASB issued guidance that allows a reclassification from accumulated other comprehensive income to retained earnings for the stranded tax effects resulting from the U.S. Tax Cuts and Jobs Act ("TCJA"). The guidance is effective for annual periods beginning after December 15, 2018, and interim periods within those annual periods. The guidance should be applied either in the period of adoption or retrospectively to each period in which the effect of the change in the U.S. federal corporate income tax rate in the TCJA is recognized. Early adoption is permitted, including adoption in any interim period. Adoption of this guidance will result in a reclassification of certain amounts from accumulated other comprehensive income to retained earnings as of the date adopted.

Basis of Presentation and Rec22

Basis of Presentation and Recently Issued Accounting Pronouncements (Tables)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of New Accounting Pronouncements and Changes in Accounting Principles	The cumulative effect of applying the new guidance to all contracts with customers that were not completed as of January 1, 2018 has been recorded as an adjustment to accumulated deficit, net of tax, as of the adoption date as follows: Hertz Global (In millions) Deferred income taxes, net Accrued liabilities Total liabilities Accumulated deficit Total equity Total liabilities and equity As of December 31, 2017 $ 1,220 $ 920 $ 18,538 $ (506 ) $ 1,520 $ 20,058 Effect of Adopting ASC 606 (51 ) 240 189 (189 ) (189 ) — As of January 1, 2018 $ 1,169 $ 1,160 $ 18,727 $ (695 ) $ 1,331 $ 20,058 Hertz (In millions) Deferred income taxes, net Accrued liabilities Total liabilities Accumulated deficit Total equity Total liabilities and equity As of December 31, 2017 $ 1,220 $ 920 $ 18,538 $ (1,486 ) $ 1,520 $ 20,058 Effect of Adopting ASC 606 (51 ) 240 189 (189 ) (189 ) — As of January 1, 2018 $ 1,169 $ 1,160 $ 18,727 $ (1,675 ) $ 1,331 $ 20,058 As disclosed above, the Company adopted Topic 606 on a modified retrospective basis, therefore, historical financial information has not been restated for comparative purposes and continues to be reported under the accounting standards in effect for those periods (“legacy guidance”). The following table presents the amounts for line items in the Company’s unaudited condensed consolidated balance sheet, statement of operations and cash flows impacted by the adoption of Topic 606 as compared to the amounts that would have been recognized in accordance with legacy guidance. The impact to the Company's unaudited condensed consolidated statement of comprehensive income (loss) is comprised solely of the impact to net income (loss) as shown in the table below: Hertz Global (In millions, except per share data) As Reported Effect of Adoption Increase (Decrease) Balances Without Adoption Unaudited Condensed Consolidated Balance Sheet as of June 30, 2018: Accrued liabilities $ 1,158 $ 239 $ 919 Deferred income taxes, net 1,106 (53 ) 1,159 Total liabilities 21,702 186 21,516 Accumulated deficit (960 ) (186 ) (774 ) Total stockholders' equity 1,069 (186 ) 1,255 Unaudited Condensed Consolidated Statement of Operations for the Three Months Ended June 30, 2018: Worldwide vehicle rental revenues $ 2,217 $ (2 ) $ 2,219 Selling, general and administrative expense 265 (1 ) 266 Income (loss) before income taxes (86 ) (1 ) (85 ) Income tax (provision) benefit 23 2 21 Net income (loss) (63 ) 1 (64 ) Basic earnings (loss) per share (0.75 ) 0.01 (0.76 ) Diluted earnings (loss) per share (0.75 ) 0.01 (0.76 ) Unaudited Condensed Consolidated Statement of Operations for the Six Months Ended June 30, 2018: Worldwide vehicle rental revenues $ 4,111 $ 1 $ 4,110 Selling, general and administrative expense 498 — 498 Income (loss) before income taxes (317 ) 1 (318 ) Income tax (provision) benefit 52 2 50 Net income (loss) (265 ) 3 (268 ) Basic earnings (loss) per share (3.19 ) 0.04 (3.23 ) Diluted earnings (loss) per share (3.19 ) 0.04 (3.23 ) Unaudited Condensed Consolidated Statement of Cash Flow for the Six Months Ended June 30, 2018: Cash flows from operating activities: Net income (loss) $ (265 ) $ 3 $ (268 ) Deferred income taxes, net (74 ) (2 ) (72 ) Accrued liabilities 5 (1 ) 6 Hertz (In millions, except per share data) As Reported Effect of Adoption Increase (Decrease) Balances Without Adoption Unaudited Condensed Consolidated Balance Sheet as of June 30, 2018: Accrued liabilities $ 1,158 $ 239 $ 919 Deferred income taxes, net 1,107 (53 ) 1,160 Total liabilities 21,703 186 21,517 Accumulated deficit (1,938 ) (186 ) (1,752 ) Total stockholders' equity 1,068 (186 ) 1,254 Unaudited Condensed Consolidated Statement of Operations for the Three Months Ended June 30, 2018: Worldwide vehicle rental revenues $ 2,217 $ (2 ) $ 2,219 Selling, general and administrative expense 265 (1 ) 266 Income (loss) before income taxes (84 ) (1 ) (83 ) Income tax (provision) benefit 23 2 21 Net income (loss) (61 ) 1 (62 ) Unaudited Condensed Consolidated Statement of Operations for the Six Months Ended June 30, 2018: Worldwide vehicle rental revenues $ 4,111 $ 1 $ 4,110 Selling, general and administrative expense 498 — 498 Income (loss) before income taxes (314 ) 1 (315 ) Income tax (provision) benefit 51 2 49 Net income (loss) (263 ) 3 (266 ) Unaudited Condensed Consolidated Statement of Cash Flow for the Six Months Ended June 30, 2018: Cash flows from operating activities: Net income (loss) $ (263 ) $ 3 $ (266 ) Deferred income taxes, net (73 ) (2 ) (71 ) Accrued liabilities 5 (1 ) 6

Revenue Earning Vehicles (Table

Revenue Earning Vehicles (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue Earning Vehicles [Abstract]
Components of Revenue Earning Vehicles	The components of revenue earning vehicles, net are as follows: (In millions) June 30, 2018 December 31, 2017 Revenue earning vehicles $ 17,256 $ 14,209 Less: Accumulated depreciation (3,162 ) (3,123 ) 14,094 11,086 Revenue earning vehicles held for sale, net 323 250 Revenue earning vehicles, net $ 14,417 $ 11,336
Depreciation on Revenue Earning Vehicles and Lease Charges	Depreciation of revenue earning vehicles and lease charges, net includes the following: Three Months Ended Six Months Ended (In millions) 2018 2017 2018 2017 Depreciation of revenue earning vehicles $ 634 $ 660 $ 1,228 $ 1,265 (Gain) loss on disposal of revenue earning vehicles (a) 31 66 78 145 Rents paid for vehicles leased 22 17 42 34 Depreciation of revenue earning vehicles and lease charges, net $ 687 $ 743 $ 1,348 $ 1,444 (a) (Gain) loss on disposal of revenue earning vehicles by segment is as follows: Three Months Ended Six Months Ended (In millions) 2018 2017 2018 2017 U.S. Rental Car (i) $ 34 $ 67 $ 79 $ 145 International Rental Car (3 ) (1 ) (1 ) — Total $ 31 $ 66 $ 78 $ 145 (i) Includes costs associated with the Company's U.S. vehicle sales operations of $34 million for each of the three months ended June 30, 2018 and 2017 and $70 million and $63 million for the six months ended June 30, 2018 and 2017 , respectively.
Impact of Depreciation Rate Changes	Depreciation rates are reviewed on a quarterly basis based on management's ongoing assessment of present and estimated future market conditions, their effect on residual values at the time of disposal and the estimated holding periods for the vehicles. The impact of depreciation rate changes is as follows: Increase (decrease) Three Months Ended Six Months Ended (In millions) 2018 2017 2018 2017 U.S. Rental Car (a) $ 3 $ 36 $ 12 $ 62 International Rental Car 1 1 3 1 Total $ 4 $ 37 $ 15 $ 63 (a) The depreciation rate changes in the U.S. Rental Car operations for the three and six months ended June 30, 2018 include a net increase in depreciation expense of $2 million based on the review completed during the second quarter of 2018 . The depreciation rate changes in the U.S. Rental Car operations for the three and six months ended June 30, 2017 include a net increase in depreciation expense of $24 million based on the review completed during the second quarter of 2017 .

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Components of debt	The Company's debt, including its available credit facilities, consists of the following ($ in millions): Facility Weighted Average Interest Rate Fixed or Maturity June 30, December 31, Non-Vehicle Debt Senior Term Loan 4.85% Floating 6/2023 $ 681 $ 688 Senior RCF N/A Floating 6/2021 — — Senior Notes (1) 6.13% Fixed 10/2020-10/2024 2,500 2,500 Senior Second Priority Secured Notes 7.63% Fixed 6/2022 1,250 1,250 Promissory Notes 7.00% Fixed 1/2028 27 27 Other Non-Vehicle Debt 1.91% Fixed Various 11 11 Unamortized Debt Issuance Costs and Net (Discount) Premium (38 ) (42 ) Total Non-Vehicle Debt 4,431 4,434 Vehicle Debt HVF U.S. Vehicle Medium Term Notes HVF Series 2010-1 N/A N/A N/A — 39 HVF Series 2013-1 (2) 1.91% Fixed 8/2018 208 625 208 664 HVF II U.S. ABS Program HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A (2) 3.58% Floating 3/2020 3,030 1,970 HVF II Series 2013-B (2) 3.52% Floating 3/2020 28 123 3,058 2,093 Facility Weighted Average Interest Rate Fixed or Maturity June 30, December 31, HVF II U.S. Vehicle Medium Term Notes HVF II Series 2015-1 (2) 2.93% Fixed 3/2020 780 780 HVF II Series 2015-2 (2) 2.45% Fixed 9/2018 265 265 HVF II Series 2015-3 (2) 3.10% Fixed 9/2020 371 371 HVF II Series 2016-1 (2) 2.89% Fixed 3/2019 466 466 HVF II Series 2016-2 (2) 3.41% Fixed 3/2021 595 595 HVF II Series 2016-3 (2) 2.72% Fixed 7/2019 424 424 HVF II Series 2016-4 (2) 3.09% Fixed 7/2021 424 424 HVF II Series 2017-1 (2) 3.38% Fixed 10/2020 450 450 HVF II Series 2017-2 (2) 3.57% Fixed 10/2022 350 350 HVF II Series 2018-1 (2) 3.41% Fixed 2/2023 1,000 — HVF II Series 2018-2 (2) 3.80% Fixed 6/2021 200 — HVF II Series 2018-3 (2) 4.15% Fixed 7/2023 200 — 5,525 4,125 Donlen ABS Program HFLF Variable Funding Notes HFLF Series 2013-2 (2) 2.56% Floating 3/2020 66 380 66 380 HFLF Medium Term Notes HFLF Series 2015-1 (4) 2.97% Floating 7/2018-3/2019 85 145 HFLF Series 2016-1 (4) 3.15% Both 7/2018-1/2020 239 318 HFLF Series 2017-1 (4) 2.61% Both 7/2018-8/2020 480 500 HFLF Series 2018-1 (4) 2.55% Both 7/2019-6/2021 550 — 1,354 963 Vehicle Debt - Other U.S. Vehicle RCF 4.56% Floating 6/2021 133 186 European Revolving Credit Facility 2.95% Floating 3/2020 410 184 European Vehicle Notes (3) 5.07% Fixed 10/2021-3/2023 838 773 European Securitization (2) 1.70% Floating 10/2018-3/2020 490 367 Canadian Securitization (2) 3.13% Floating 10/2018-3/2020 308 237 Australian Securitization (2) 3.51% Floating 3/2020 132 155 New Zealand RCF 4.71% Floating 3/2020 36 42 U.K. Financing Facility 2.86% Floating 7/2018-4/2021 377 251 Other Vehicle Debt 3.98% Floating 7/2018-10/2022 51 51 2,775 2,246 Unamortized Debt Issuance Costs and Net (Discount) Premium (53 ) (40 ) Total Vehicle Debt 12,933 10,431 Total Debt $ 17,364 $ 14,865 N/A - Not applicable (1) References to the "Senior Notes" include the series of Hertz's unsecured senior notes set forth on the table below. Outstanding principal amounts for each such series of the Senior Notes is also specified below: (In millions) Outstanding Principal Senior Notes June 30, 2018 December 31, 2017 5.875% Senior Notes due October 2020 $ 700 $ 700 7.375% Senior Notes due January 2021 500 500 6.250% Senior Notes due October 2022 500 500 5.500% Senior Notes due October 2024 800 800 $ 2,500 $ 2,500 (2) Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness expect the outstanding principal of the relevant indebtedness to be repaid in full. The legal final maturity date is the date on which the outstanding principal of the relevant indebtedness is legally due and payable in full. (3) References to the "European Vehicle Notes" include the series of Hertz Holdings Netherlands B.V.'s, an indirect wholly-owned subsidiary of Hertz organized under the laws of The Netherlands (“HHN BV”), unsecured senior notes (converted from Euros to U.S. dollars at a rate of 1.16 to 1 and 1.19 to 1 as of June 30, 2018 and December 31, 2017 , respectively) set forth on the table below. Outstanding principal amounts for each such series of the European Vehicle Notes is also specified below: (In millions) Outstanding Principal European Vehicles Notes June 30, 2018 December 31, 2017 4.375% Senior Notes due January 2019 $ — $ 505 4.125% Senior Notes due October 2021 260 268 5.500% Senior Notes due March 2023 578 — $ 838 $ 773 (4) In the case of the Hertz Fleet Lease Funding LP ("HFLF") Medium Term Notes, such notes are repayable from cash flows derived from third-party leases comprising the underlying HFLF collateral pool. The initial maturity date referenced for each series of HFLF Medium Term Notes represents the end of the revolving period for such series, at which time the related notes begin to amortize monthly by an amount equal to the lease collections payable to that series. To the extent the revolving period already has ended, the initial maturity date reflected is July 2018. The second maturity date referenced for each series of HFLF Medium Term Notes represents the date by which Hertz and the investors in the related series expect such series of notes to be repaid in full, which is based upon various assumptions made at the time of pricing of such notes, including the contractual amortization of the underlying leases as well as the assumed rate of prepayments of such leases. Such maturity reference is to the “expected final maturity date” as opposed to the subsequent “legal final maturity date.” The legal final maturity date is the date on which the relevant indebtedness is legally due and payable. Although the underlying lease cash flows that support the repayment of the HFLF Medium Term Notes may vary, the cash flows generally are expected to approximate a straight-line amortization of the related notes from the initial maturity date through the expected final maturity date. The fair value of debt is estimated based on quoted market rates as well as borrowing rates currently available to the Company for loans with similar terms and average maturities (Level 2 inputs). As of June 30, 2018 As of December 31, 2017 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Non-vehicle Debt $ 4,469 $ 4,154 $ 4,476 $ 4,438 Vehicle Debt 12,986 12,911 10,471 10,456 Total $ 17,455 $ 17,065 $ 14,947 $ 14,894
Schedule of facilities available for the use of the company and its subsidiaries	The following facilities were available to the Company as of June 30, 2018 , and are presented net of any outstanding letters of credit: (In millions) Remaining Availability Under Non-Vehicle Debt Senior RCF $ 502 $ 502 Letter of Credit Facility — — Total Non-Vehicle Debt 502 502 Vehicle Debt U.S. Vehicle RCF — — HVF II U.S. Vehicle Variable Funding Notes 607 — HFLF Variable Funding Notes 434 6 European Revolving Credit Facility 96 — European Securitization 41 — Canadian Securitization — — Australian Securitization 51 — U.K. Financing Facility — — New Zealand RCF 5 — Total Vehicle Debt 1,234 6 Total $ 1,736 $ 508

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2018
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue	The following table presents revenues from contracts with customers by reportable segment and disaggregated by product/service and type of location and customer: Three Months Ending June 30, 2018 (In millions) U.S. Rental Car International Rental Car All Other Operations Consolidated Vehicle rental and rental related: Airport $ 1,142 $ 332 $ — $ 1,474 Off airport 453 219 — 672 Total vehicle rental and rental related 1,595 551 — 2,146 Other: Licensee revenue 8 38 — 46 Ancillary retail vehicle sales 25 — — 25 Fleet management — — 10 10 Total other 33 38 10 81 Total revenue from contracts with customers $ 1,628 $ 589 $ 10 $ 2,227 Six Months Ending June 30, 2018 (In millions) U.S. Rental Car International Rental Car All Other Operations Consolidated Vehicle rental and rental related: Airport $ 2,124 $ 583 $ — $ 2,707 Off airport 865 404 — 1,269 Total vehicle rental and rental related 2,989 987 — 3,976 Other: Licensee revenue 14 70 — 84 Ancillary retail vehicle sales 51 — — 51 Fleet management — — 22 22 Total other 65 70 22 157 Total revenue from contracts with customers $ 3,054 $ 1,057 $ 22 $ 4,133

Earnings (Loss) Per Share - H26

Earnings (Loss) Per Share - Hertz Global (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted earnings (loss) per share: Three Months Ended Six Months Ended (In millions, except per share data) 2018 2017 2018 2017 Basic and diluted earnings (loss) per share: Numerator: Net income (loss), basic and diluted $ (63 ) $ (158 ) $ (265 ) $ (381 ) Denominator: Basic weighted average common shares 84 83 83 83 Dilutive stock options, RSUs, PSUs and PSAs — — — — Weighted average shares used to calculate diluted earnings per share 84 83 83 83 Antidilutive stock options, RSUs, PSUs and PSAs 3 3 3 3 Earnings (loss) per share: Basic earnings (loss) per share $ (0.75 ) $ (1.90 ) $ (3.19 ) $ (4.59 ) Diluted earnings (loss) per share $ (0.75 ) $ (1.90 ) $ (3.19 ) $ (4.59 )

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Cash, Cash Equivalents and Investments	The following table summarizes the ending balances of the Company's cash equivalents, restricted cash equivalents and investments: June 30, 2018 December 31, 2017 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Money market funds and time deposits $ 485 $ — $ — $ 485 $ 634 $ — $ — $ 634 Equity securities 41 — — 41 — — — —
Components of debt	The Company's debt, including its available credit facilities, consists of the following ($ in millions): Facility Weighted Average Interest Rate Fixed or Maturity June 30, December 31, Non-Vehicle Debt Senior Term Loan 4.85% Floating 6/2023 $ 681 $ 688 Senior RCF N/A Floating 6/2021 — — Senior Notes (1) 6.13% Fixed 10/2020-10/2024 2,500 2,500 Senior Second Priority Secured Notes 7.63% Fixed 6/2022 1,250 1,250 Promissory Notes 7.00% Fixed 1/2028 27 27 Other Non-Vehicle Debt 1.91% Fixed Various 11 11 Unamortized Debt Issuance Costs and Net (Discount) Premium (38 ) (42 ) Total Non-Vehicle Debt 4,431 4,434 Vehicle Debt HVF U.S. Vehicle Medium Term Notes HVF Series 2010-1 N/A N/A N/A — 39 HVF Series 2013-1 (2) 1.91% Fixed 8/2018 208 625 208 664 HVF II U.S. ABS Program HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A (2) 3.58% Floating 3/2020 3,030 1,970 HVF II Series 2013-B (2) 3.52% Floating 3/2020 28 123 3,058 2,093 Facility Weighted Average Interest Rate Fixed or Maturity June 30, December 31, HVF II U.S. Vehicle Medium Term Notes HVF II Series 2015-1 (2) 2.93% Fixed 3/2020 780 780 HVF II Series 2015-2 (2) 2.45% Fixed 9/2018 265 265 HVF II Series 2015-3 (2) 3.10% Fixed 9/2020 371 371 HVF II Series 2016-1 (2) 2.89% Fixed 3/2019 466 466 HVF II Series 2016-2 (2) 3.41% Fixed 3/2021 595 595 HVF II Series 2016-3 (2) 2.72% Fixed 7/2019 424 424 HVF II Series 2016-4 (2) 3.09% Fixed 7/2021 424 424 HVF II Series 2017-1 (2) 3.38% Fixed 10/2020 450 450 HVF II Series 2017-2 (2) 3.57% Fixed 10/2022 350 350 HVF II Series 2018-1 (2) 3.41% Fixed 2/2023 1,000 — HVF II Series 2018-2 (2) 3.80% Fixed 6/2021 200 — HVF II Series 2018-3 (2) 4.15% Fixed 7/2023 200 — 5,525 4,125 Donlen ABS Program HFLF Variable Funding Notes HFLF Series 2013-2 (2) 2.56% Floating 3/2020 66 380 66 380 HFLF Medium Term Notes HFLF Series 2015-1 (4) 2.97% Floating 7/2018-3/2019 85 145 HFLF Series 2016-1 (4) 3.15% Both 7/2018-1/2020 239 318 HFLF Series 2017-1 (4) 2.61% Both 7/2018-8/2020 480 500 HFLF Series 2018-1 (4) 2.55% Both 7/2019-6/2021 550 — 1,354 963 Vehicle Debt - Other U.S. Vehicle RCF 4.56% Floating 6/2021 133 186 European Revolving Credit Facility 2.95% Floating 3/2020 410 184 European Vehicle Notes (3) 5.07% Fixed 10/2021-3/2023 838 773 European Securitization (2) 1.70% Floating 10/2018-3/2020 490 367 Canadian Securitization (2) 3.13% Floating 10/2018-3/2020 308 237 Australian Securitization (2) 3.51% Floating 3/2020 132 155 New Zealand RCF 4.71% Floating 3/2020 36 42 U.K. Financing Facility 2.86% Floating 7/2018-4/2021 377 251 Other Vehicle Debt 3.98% Floating 7/2018-10/2022 51 51 2,775 2,246 Unamortized Debt Issuance Costs and Net (Discount) Premium (53 ) (40 ) Total Vehicle Debt 12,933 10,431 Total Debt $ 17,364 $ 14,865 N/A - Not applicable (1) References to the "Senior Notes" include the series of Hertz's unsecured senior notes set forth on the table below. Outstanding principal amounts for each such series of the Senior Notes is also specified below: (In millions) Outstanding Principal Senior Notes June 30, 2018 December 31, 2017 5.875% Senior Notes due October 2020 $ 700 $ 700 7.375% Senior Notes due January 2021 500 500 6.250% Senior Notes due October 2022 500 500 5.500% Senior Notes due October 2024 800 800 $ 2,500 $ 2,500 (2) Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness expect the outstanding principal of the relevant indebtedness to be repaid in full. The legal final maturity date is the date on which the outstanding principal of the relevant indebtedness is legally due and payable in full. (3) References to the "European Vehicle Notes" include the series of Hertz Holdings Netherlands B.V.'s, an indirect wholly-owned subsidiary of Hertz organized under the laws of The Netherlands (“HHN BV”), unsecured senior notes (converted from Euros to U.S. dollars at a rate of 1.16 to 1 and 1.19 to 1 as of June 30, 2018 and December 31, 2017 , respectively) set forth on the table below. Outstanding principal amounts for each such series of the European Vehicle Notes is also specified below: (In millions) Outstanding Principal European Vehicles Notes June 30, 2018 December 31, 2017 4.375% Senior Notes due January 2019 $ — $ 505 4.125% Senior Notes due October 2021 260 268 5.500% Senior Notes due March 2023 578 — $ 838 $ 773 (4) In the case of the Hertz Fleet Lease Funding LP ("HFLF") Medium Term Notes, such notes are repayable from cash flows derived from third-party leases comprising the underlying HFLF collateral pool. The initial maturity date referenced for each series of HFLF Medium Term Notes represents the end of the revolving period for such series, at which time the related notes begin to amortize monthly by an amount equal to the lease collections payable to that series. To the extent the revolving period already has ended, the initial maturity date reflected is July 2018. The second maturity date referenced for each series of HFLF Medium Term Notes represents the date by which Hertz and the investors in the related series expect such series of notes to be repaid in full, which is based upon various assumptions made at the time of pricing of such notes, including the contractual amortization of the underlying leases as well as the assumed rate of prepayments of such leases. Such maturity reference is to the “expected final maturity date” as opposed to the subsequent “legal final maturity date.” The legal final maturity date is the date on which the relevant indebtedness is legally due and payable. Although the underlying lease cash flows that support the repayment of the HFLF Medium Term Notes may vary, the cash flows generally are expected to approximate a straight-line amortization of the related notes from the initial maturity date through the expected final maturity date. The fair value of debt is estimated based on quoted market rates as well as borrowing rates currently available to the Company for loans with similar terms and average maturities (Level 2 inputs). As of June 30, 2018 As of December 31, 2017 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Non-vehicle Debt $ 4,469 $ 4,154 $ 4,476 $ 4,438 Vehicle Debt 12,986 12,911 10,471 10,456 Total $ 17,455 $ 17,065 $ 14,947 $ 14,894

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables provide significant statement of operations and balance sheet information by segment for each of Hertz Global and Hertz, as well as adjusted pre-tax income (loss), the segment measure of profitability. Three Months Ended Six Months Ended (In millions) 2018 2017 2018 2017 Revenues U.S. Rental Car $ 1,628 $ 1,519 $ 3,054 $ 2,872 International Rental Car 589 543 1,057 955 All Other Operations 172 162 341 313 Total Hertz Global and Hertz $ 2,389 $ 2,224 $ 4,452 $ 4,140 Depreciation of revenue earning vehicles and lease charges, net U.S. Rental Car $ 447 $ 524 $ 881 $ 1,023 International Rental Car 112 100 214 185 All Other Operations 128 119 253 236 Total Hertz Global and Hertz $ 687 $ 743 $ 1,348 $ 1,444 Adjusted pre-tax income (loss) (a) U.S. Rental Car $ 24 $ (37 ) $ (24 ) $ (152 ) International Rental Car 74 56 69 52 All Other Operations 24 19 47 39 Corporate (143 ) (120 ) (289 ) (234 ) Total Hertz Global (21 ) (82 ) (197 ) (295 ) Corporate - Hertz 2 1 3 2 Total Hertz $ (19 ) $ (81 ) $ (194 ) $ (293 ) (In millions) June 30, 2018 December 31, 2017 Total Assets U.S. Rental Car $ 14,847 $ 12,785 International Rental Car 4,973 3,971 All Other Operations 1,759 1,700 Corporate 1,192 1,602 Total Hertz Global and Hertz $ 22,771 $ 20,058 (a) Adjusted pre-tax income (loss), the Company's segment profitability measure, is calculated as income (loss) before income taxes plus non-cash acquisition accounting charges, debt-related charges relating to the amortization and write-off of debt financing costs and debt discounts and premiums, goodwill, intangible and tangible asset impairments and write downs, information technology and finance transformation costs and certain other miscellaneous or non-recurring items. Reconciliations of adjusted pre-tax income (loss) by segment to consolidated amounts are summarized below. Hertz Global Three Months Ended Six Months Ended (In millions) 2018 2017 2018 2017 Adjusted pre-tax income (loss): U.S. Rental Car $ 24 $ (37 ) $ (24 ) $ (152 ) International Rental Car 74 56 69 52 All Other Operations 24 19 47 39 Total reportable segments 122 38 92 (61 ) Corporate (1) (143 ) (120 ) (289 ) (234 ) Adjusted pre-tax income (loss) (21 ) (82 ) (197 ) (295 ) Adjustments: Acquisition accounting (2) (15 ) (16 ) (30 ) (31 ) Debt-related charges (3) (13 ) (10 ) (26 ) (21 ) Loss on extinguishment of debt (4) (20 ) (8 ) (22 ) (8 ) Restructuring and restructuring related charges (5) (10 ) (5 ) (13 ) (13 ) Impairment charges and asset write-downs (6) — (86 ) — (116 ) Information technology and finance transformation costs (7) (29 ) (20 ) (51 ) (39 ) Other (8) 22 (18 ) 22 (16 ) Income (loss) before income taxes $ (86 ) $ (245 ) $ (317 ) $ (539 ) Hertz Three Months Ended Six Months Ended (In millions) 2018 2017 2018 2017 Adjusted pre-tax income (loss): U.S. Rental Car $ 24 $ (37 ) $ (24 ) $ (152 ) International Rental Car 74 56 69 52 All Other Operations 24 19 47 39 Total reportable segments 122 38 92 (61 ) Corporate (1) (141 ) (119 ) (286 ) (232 ) Adjusted pre-tax income (loss) (19 ) (81 ) (194 ) (293 ) Adjustments: Acquisition accounting (2) (15 ) (16 ) (30 ) (31 ) Debt-related charges (3) (13 ) (10 ) (26 ) (21 ) Loss on extinguishment of debt (4) (20 ) (8 ) (22 ) (8 ) Restructuring and restructuring related charges (5) (10 ) (5 ) (13 ) (13 ) Impairment charges and asset write-downs (6) — (86 ) — (116 ) Information technology and finance transformation costs (7) (29 ) (20 ) (51 ) (39 ) Other (8) 22 (18 ) 22 (16 ) Income (loss) before income taxes $ (84 ) $ (244 ) $ (314 ) $ (537 ) (1) Represents general corporate expenses, non-vehicle interest expense, as well as other business activities. (2) Represents incremental expense associated with amortization of other intangible assets and depreciation of property and equipment relating to acquisition accounting. (3) Primarily represents debt-related charges relating to the amortization of deferred financing costs and debt discounts and premiums. (4) In 2018, primarily represents $20 million of early redemption premium and write-off of deferred financing costs associated with the full redemption of the 4.375 % European Vehicle Senior Notes due January 2019 in April 2018. In 2017, represents $6 million of early redemption premium and write-off of deferred financing costs associated with the redemption of certain notes and a $2 million write-off of deferred financing costs associated with the termination of commitments under the Senior RCF. (5) Represents charges incurred under restructuring actions as defined in U.S. GAAP, excluding impairments and asset write-downs, which are shown separately in the table. Also includes restructuring related charges such as incremental costs incurred directly supporting business transformation initiatives. Such costs include transition costs incurred in connection with business process outsourcing arrangements and incremental costs incurred to facilitate business process re-engineering initiatives that involve significant organization redesign and extensive operational process changes. Also includes consulting costs, legal fees and other expenses related to the previously disclosed accounting review and investigation. (6) In 2017, represents a second quarter $86 million impairment of the Dollar Thrifty tradename and a first quarter impairment of $30 million related to an equity method investment. (7) Represents costs associated with the Company’s information technology and finance transformation programs, both of which are multi-year initiatives to upgrade and modernize the Company’s systems and processes. (8) Represents miscellaneous or non-recurring items. In 2018, includes a $17 million gain on marketable securities and a $6 million legal settlement received in the second quarter related to an oil spill in the Gulf of Mexico in 2010. In 2017, includes first and second quarter adjustments, as applicable, to the carrying value of the Company's previous Brazil operations and second quarter charges of $6 million for labor-related matters and $5 million relating to PLPD as a result of a terrorist event.

Guarantor and Non-Guarantor C29

Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz (Tables)	6 Months Ended
	Jun. 30, 2018
Guarantor and Non-Guarantor Condensed Consolidating Financial Statements Disclosure [Abstract]
Condensed Balance Sheet	THE HERTZ CORPORATION CONDENSED CONSOLIDATING BALANCE SHEET June 30, 2018 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries ASSETS Cash and cash equivalents $ 393 $ 6 $ 286 $ — $ 685 Restricted cash and cash equivalents 71 9 156 — 236 Total cash, cash equivalents, restricted cash and restricted cash equivalents 464 15 442 — 921 Receivables, net of allowance 468 163 795 — 1,426 Due from affiliates 3,565 5,070 8,852 (17,487 ) — Prepaid expenses and other assets 4,367 40 301 (3,786 ) 922 Revenue earning vehicles, net 402 2 14,013 — 14,417 Property and equipment, net 606 63 133 — 802 Investment in subsidiaries, net 7,767 1,298 — (9,065 ) — Other intangible assets, net 128 3,065 7 — 3,200 Goodwill 102 943 38 — 1,083 Total assets $ 17,869 $ 10,659 $ 24,581 $ (30,338 ) $ 22,771 LIABILITIES AND STOCKHOLDER'S EQUITY Due to affiliates $ 10,843 $ 2,328 $ 4,316 $ (17,487 ) $ — Accounts payable 466 115 910 — 1,491 Accrued liabilities 685 69 404 — 1,158 Accrued taxes, net 76 18 2,466 (2,398 ) 162 Debt 4,563 — 12,801 — 17,364 Public liability and property damage 178 41 202 — 421 Deferred income taxes, net — 1,485 1,010 (1,388 ) 1,107 Total liabilities 16,811 4,056 22,109 (21,273 ) 21,703 Stockholder's equity: Total stockholder's equity attributable to Hertz 1,058 6,603 2,462 (9,065 ) 1,058 Non-controlling interest — — 10 — 10 Total stockholder's equity 1,058 6,603 2,472 (9,065 ) 1,068 Total liabilities and stockholder's equity $ 17,869 $ 10,659 $ 24,581 $ (30,338 ) $ 22,771 THE HERTZ CORPORATION CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2017 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries ASSETS Cash and cash equivalents $ 686 $ 9 $ 377 $ — $ 1,072 Restricted cash and cash equivalents 225 7 200 — 432 Total cash, cash equivalents, restricted cash and restricted cash equivalents 911 16 577 — 1,504 Receivables, net of allowance 366 167 832 — 1,365 Due from affiliates 3,373 4,567 8,794 (16,734 ) — Prepaid expenses and other assets 3,747 37 302 (3,399 ) 687 Revenue earning vehicles, net 352 2 10,982 — 11,336 Property and equipment, net 639 61 140 — 840 Investment in subsidiaries, net 7,966 1,265 — (9,231 ) — Other intangible assets, net 141 3,091 10 — 3,242 Goodwill 102 944 38 — 1,084 Total assets $ 17,597 $ 10,150 $ 21,675 $ (29,364 ) $ 20,058 LIABILITIES AND STOCKHOLDER'S EQUITY Due to affiliates $ 10,368 $ 2,156 $ 4,210 $ (16,734 ) $ — Accounts payable 375 92 479 — 946 Accrued liabilities 473 73 374 — 920 Accrued taxes, net 77 21 2,235 (2,173 ) 160 Debt 4,619 — 10,246 — 14,865 Public liability and property damage 165 37 225 — 427 Deferred income taxes, net — 1,451 995 (1,226 ) 1,220 Total liabilities 16,077 3,830 18,764 (20,133 ) 18,538 Stockholder's equity: Total stockholder's equity 1,520 6,320 2,911 (9,231 ) 1,520 Total liabilities and stockholder's equity $ 17,597 $ 10,150 $ 21,675 $ (29,364 ) $ 20,058
Condensed Income Statement	THE HERTZ CORPORATION CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Three Months Ended June 30, 2018 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Total revenues $ 1,193 $ 368 $ 2,129 $ (1,301 ) $ 2,389 Expenses: Direct vehicle and operating 839 182 328 — 1,349 Depreciation of revenue earning vehicles and lease charges, net 1,220 98 670 (1,301 ) 687 Selling, general and administrative 179 16 70 — 265 Interest (income) expense, net 100 (37 ) 135 — 198 Other (income) expense, net (25 ) — (1 ) — (26 ) Total expenses 2,313 259 1,202 (1,301 ) 2,473 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (1,120 ) 109 927 — (84 ) Income tax (provision) benefit 235 (21 ) (191 ) — 23 Equity in earnings (losses) of subsidiaries, net of tax 824 34 — (858 ) — Net income (loss) (61 ) 122 736 (858 ) (61 ) Other comprehensive income (loss), net of tax (14 ) (3 ) (14 ) 17 (14 ) Comprehensive income (loss) $ (75 ) $ 119 $ 722 $ (841 ) $ (75 ) THE HERTZ CORPORATION CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Three Months Ended June 30, 2017 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Total revenues $ 1,170 $ 354 $ 1,871 $ (1,171 ) $ 2,224 Expenses: Direct vehicle and operating 741 181 333 — 1,255 Depreciation of revenue earning vehicles and lease charges, net 1,024 113 714 (1,108 ) 743 Selling, general and administrative 156 8 59 — 223 Interest (income) expense, net 101 (25 ) 81 — 157 Intangible asset impairments — 86 — — 86 Other (income) expense, net — — 4 — 4 Total expenses 2,022 363 1,191 (1,108 ) 2,468 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (852 ) (9 ) 680 (63 ) (244 ) Income tax (provision) benefit 358 1 (273 ) — 86 Equity in earnings (losses) of subsidiaries, net of tax 336 30 — (366 ) — Net income (loss) (158 ) 22 407 (429 ) (158 ) Other comprehensive income (loss), net of tax (7 ) 3 (8 ) 5 (7 ) Comprehensive income (loss) $ (165 ) $ 25 $ 399 $ (424 ) $ (165 ) THE HERTZ CORPORATION CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Six Months Ended June 30, 2018 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Total revenues $ 2,249 $ 687 $ 3,618 $ (2,102 ) $ 4,452 Expenses: Direct vehicle and operating 1,590 354 641 — 2,585 Depreciation of revenue earning vehicles and lease charges, net 1,985 182 1,283 (2,102 ) 1,348 Selling, general and administrative 340 28 130 — 498 Interest (income) expense, net 204 (70 ) 230 — 364 Intangible asset impairments — — — — — Other (income) expense, net (27 ) — (2 ) — (29 ) Total expenses 4,092 494 2,282 (2,102 ) 4,766 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (1,843 ) 193 1,336 — (314 ) Income tax (provision) benefit 356 (35 ) (270 ) — 51 Equity in earnings (losses) of subsidiaries, net of tax 1,224 58 — (1,282 ) — Net income (loss) (263 ) 216 1,066 (1,282 ) (263 ) Other comprehensive income (loss), net of tax (17 ) (5 ) (17 ) 22 (17 ) Comprehensive income (loss) $ (280 ) $ 211 $ 1,049 $ (1,260 ) $ (280 ) THE HERTZ CORPORATION CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Six Months Ended June 30, 2017 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Total revenues $ 2,220 $ 661 $ 3,248 $ (1,989 ) $ 4,140 Expenses: Direct vehicle and operating 1,429 350 608 — 2,387 Depreciation of revenue earning vehicles and lease charges, net 1,761 215 1,335 (1,867 ) 1,444 Selling, general and administrative 306 19 117 — 442 Interest (income) expense, net 183 (47 ) 151 — 287 Intangible asset impairments — 86 — — 86 Other (income) expense, net 33 — (2 ) — 31 Total expenses 3,712 623 2,209 (1,867 ) 4,677 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (1,492 ) 38 1,039 (122 ) (537 ) Income tax (provision) benefit 572 (14 ) (401 ) — 157 Equity in earnings (losses) of subsidiaries, net of tax 540 62 — (602 ) — Net income (loss) (380 ) 86 638 (724 ) (380 ) Other comprehensive income (loss), net of tax 6 3 4 (7 ) 6 Comprehensive income (loss) $ (374 ) $ 89 $ 642 $ (731 ) $ (374 )
Condensed Cash Flow Statement	THE HERTZ CORPORATION CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2018 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Net cash provided by (used in) operating activities $ (34 ) $ 5 $ 2,093 $ (1,119 ) $ 945 Cash flows from investing activities: Revenue earning vehicles expenditures (213 ) — (7,397 ) — (7,610 ) Proceeds from disposal of revenue earning vehicles 96 — 3,558 — 3,654 Capital asset expenditures, non-vehicle (54 ) (6 ) (20 ) — (80 ) Proceeds from disposal of property and other equipment 3 — 5 — 8 Purchases of marketable securities (60 ) — (1 ) — (61 ) Sales of marketable securities 36 — — — 36 Other — — (2 ) — (2 ) Capital contributions to subsidiaries (1,978 ) — — 1,978 — Return of capital from subsidiaries 1,900 — — (1,900 ) — Loan to Parent/Guarantor from Non-Guarantor — — 76 (76 ) — Net cash provided by (used in) investing activities (270 ) (6 ) (3,781 ) 2 (4,055 ) Cash flows from financing activities: Proceeds from issuance of vehicle debt 1,172 — 8,242 — 9,414 Repayments of vehicle debt (1,226 ) — (5,603 ) — (6,829 ) Proceeds from issuance of non-vehicle debt 187 — — — 187 Repayments of non-vehicle debt (194 ) — — — (194 ) Payment of financing costs (1 ) — (26 ) — (27 ) Early redemption premium payment — — (19 ) — (19 ) Advances to Hertz Holdings (6 ) — — — (6 ) Other 1 — 10 — 11 Capital contributions received from parent — — 1,978 (1,978 ) — Payment of dividends and return of capital — — (3,019 ) 3,019 — Loan to Parent/Guarantor from Non-Guarantor (76 ) — — 76 — Net cash provided by (used in) financing activities (143 ) — 1,563 1,117 2,537 Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents — — (10 ) — (10 ) Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period (447 ) (1 ) (135 ) — (583 ) Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 911 16 577 — 1,504 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ 464 $ 15 $ 442 $ — $ 921 THE HERTZ CORPORATION CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Six Months Ended June 30, 2017 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Net cash provided by (used in) operating activities $ (396 ) $ 15 $ 2,168 $ (822 ) $ 965 Cash flows from investing activities: Revenue earning vehicles expenditures (171 ) (5 ) (6,533 ) — (6,709 ) Proceeds from disposal of revenue earning vehicles 91 — 3,744 — 3,835 Capital asset expenditures, non-vehicle (56 ) (5 ) (23 ) — (84 ) Proceeds from disposal of property and other equipment 6 — 5 — 11 Sales of marketable securities — — 9 — 9 Other — — (2 ) — (2 ) Capital contributions to subsidiaries (1,260 ) — — 1,260 — Return of capital from subsidiaries 1,739 — — (1,739 ) — Loan to Parent/Guarantor from Non-Guarantor — — 431 (431 ) — Net cash provided by (used in) investing activities 349 (10 ) (2,369 ) (910 ) (2,940 ) Cash flows from financing activities: Proceeds from issuance of vehicle debt 631 — 4,397 — 5,028 Repayments of vehicle debt (657 ) — (3,008 ) — (3,665 ) Proceeds from issuance of non-vehicle debt 2,100 — — — 2,100 Repayments of non-vehicle debt (354 ) — — — (354 ) Payment of financing costs (16 ) (4 ) (14 ) — (34 ) Advances to Hertz Holdings (3 ) — — — (3 ) Early redemption premium payment (5 ) — — — (5 ) Capital contributions received from parent — — 1,260 (1,260 ) — Payment of dividends and return of capital — — (2,561 ) 2,561 — Loan to Parent/Guarantor from Non-Guarantor (431 ) — — 431 — Net cash provided by (used in) financing activities 1,265 (4 ) 74 1,732 3,067 Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents — — 17 — 17 Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period 1,218 1 (110 ) — 1,109 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 511 17 566 — 1,094 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ 1,729 $ 18 $ 456 $ — $ 2,203

Basis of Presentation and Rec30

Basis of Presentation and Recently Issued Accounting Pronouncements (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)	$ (63)	$ (158)	$ (265)	$ (381)
Net cash provided by operating activities			(942)	(963)
Net cash used in investing activities			4,055	2,940
Purchases of revenue earning vehicles included in accounts payable and accrued liabilities, net of incentives			548	546
Restatement Adjustment | Other Immaterial Errors
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)		$ 10
Accounts Payable | Non-vehicle | Restatement Adjustment | Other Immaterial Errors
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash provided by operating activities				19
Net cash used in investing activities				19
Purchases of revenue earning vehicles included in accounts payable and accrued liabilities, net of incentives				$ 19
Accounting Standards Update 2014-09 | Difference between Revenue Guidance in Effect before and after Topic 606
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net income (loss)	$ 1		$ 3
Other accrued liabilities					$ 19

Basis of Presentation and Rec31

Basis of Presentation and Recently Issued Accounting Pronouncements (Recent Issued Accounting Pronouncements) (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended			6 Months Ended
		Jun. 30, 2018		Jun. 30, 2017	Jun. 30, 2018		Jun. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
Balance Sheet Related Disclosures [Abstract]
Deferred income taxes, net		$ 1,106			$ 1,106			$ 1,169	$ 1,220
Accrued liabilities		1,158			1,158			1,160	920
Total liabilities		21,702	[1]		21,702	[1]		18,727	18,538	[1]
Accumulated deficit		(960)			(960)			(695)	(506)
Total equity		1,069			1,069			1,331	1,520
Total liabilities and equity		22,771			22,771			20,058	20,058
Income Statement Related Disclosures [Abstract]
Worldwide vehicle rental		2,217		$ 2,062	4,111		$ 3,827
Selling, general and administrative		265		223	498		442
Adjustments:		(86)		(245)	(317)		(539)
Income tax (provision) benefit		23		87	52		158
Net income (loss)		$ (63)		$ (158)	$ (265)		$ (381)
Basic earnings (loss) per share (in dollars per share)		$ (0.75)		$ (1.90)	$ (3.19)		$ (4.59)
Diluted earnings (loss) per share (in dollars per share)		$ (0.75)		$ (1.90)	$ (3.19)		$ (4.59)
Cash Flow Related Items [Abstract]
Net cash provided by (used in) investing activities					$ (4,055)		$ (2,940)
Net cash provided by (used in) financing activities					2,540		3,069
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period					1,504		1,094
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period		$ 921		$ 2,203	921		2,203
Deferred income taxes, net					(74)
Accrued liabilities					5		(53)
Accounting Standards Update 2014-09
Cash Flow Related Items [Abstract]
Net Cash Provided by (Used in) Investing Activities, Continuing Operations							(2,885)
Net cash provided by (used in) financing activities							2,235
Effect of Exchange Rate on Cash and Cash Equivalents, Continuing Operations							12
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period					1,141		816
The Hertz Corporation
Balance Sheet Related Disclosures [Abstract]
Deferred income taxes, net		1,107			1,107				1,220
Accrued liabilities		1,158			1,158				920
Total liabilities	[2]	21,703			21,703				18,538
Accumulated deficit		(1,938)			(1,938)				(1,486)
Total equity		1,068			1,068				1,520
Total liabilities and equity		22,771			22,771				20,058
Income Statement Related Disclosures [Abstract]
Worldwide vehicle rental		2,217		2,062	4,111		3,827
Selling, general and administrative		265		223	498		442
Adjustments:		(84)		(244)	(314)		(537)
Income tax (provision) benefit		23		86	51		157
Net income (loss)		(61)		(158)	(263)		(380)
Cash Flow Related Items [Abstract]
Net cash provided by (used in) investing activities					(4,055)		(2,940)
Net cash provided by (used in) financing activities					2,537		3,067
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period					1,504		1,094
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period		921		$ 2,203	921		2,203
Deferred income taxes, net					(73)
Accrued liabilities					5		(53)
The Hertz Corporation | Accounting Standards Update 2014-09
Balance Sheet Related Disclosures [Abstract]
Deferred income taxes, net								1,169
Accrued liabilities								1,160
Total liabilities								18,727
Accumulated deficit								(1,675)
Total equity								1,331
Total liabilities and equity								20,058
Cash Flow Related Items [Abstract]
Net cash provided by (used in) investing activities							(2,885)
Net cash provided by (used in) financing activities							2,233
Effect of Exchange Rate on Cash and Cash Equivalents							12
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period					1,141		816
Calculated under Revenue Guidance in Effect before Topic 606
Balance Sheet Related Disclosures [Abstract]
Deferred income taxes, net		1,159			1,159				1,220
Accrued liabilities		919			919				920
Total liabilities		21,516			21,516				18,538
Accumulated deficit		(774)			(774)				(506)
Total equity		1,255			1,255				1,520
Total liabilities and equity									20,058
Income Statement Related Disclosures [Abstract]
Worldwide vehicle rental		2,219			4,110
Selling, general and administrative		266			498
Adjustments:		(85)			(318)
Income tax (provision) benefit		21			50
Net income (loss)		$ (64)			$ (268)
Basic earnings (loss) per share (in dollars per share)		$ (0.76)			$ (3.23)
Diluted earnings (loss) per share (in dollars per share)		$ (0.76)			$ (3.23)
Cash Flow Related Items [Abstract]
Net Cash Provided by (Used in) Investing Activities, Continuing Operations							(2,940)
Net cash provided by (used in) financing activities							3,069
Effect of Exchange Rate on Cash and Cash Equivalents, Continuing Operations							17
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period					$ 2,203		1,094
Deferred income taxes, net					(72)
Accrued liabilities					6
Calculated under Revenue Guidance in Effect before Topic 606 | The Hertz Corporation
Balance Sheet Related Disclosures [Abstract]
Deferred income taxes, net		$ 1,160			1,160
Accrued liabilities		919			919
Total liabilities		21,517			21,517
Accumulated deficit		(1,752)			(1,752)
Total equity		1,254			1,254				1,520
Income Statement Related Disclosures [Abstract]
Worldwide vehicle rental		2,219			4,110
Selling, general and administrative		266			498
Adjustments:		(83)			(315)
Income tax (provision) benefit		21			49
Net income (loss)		(62)			(266)
Cash Flow Related Items [Abstract]
Net cash provided by (used in) investing activities							(2,940)
Net cash provided by (used in) financing activities							3,067
Effect of Exchange Rate on Cash and Cash Equivalents							17
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period					2,203		1,094
Deferred income taxes, net					(71)
Accrued liabilities					6
Calculated under Revenue Guidance in Effect before Topic 606 | The Hertz Corporation | Accounting Standards Update 2014-09
Balance Sheet Related Disclosures [Abstract]
Deferred income taxes, net									1,220
Accrued liabilities									920
Total liabilities									18,538
Accumulated deficit									(1,486)
Total liabilities and equity									$ 20,058
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Balance Sheet Related Disclosures [Abstract]
Deferred income taxes, net		(53)			(53)			(51)
Accrued liabilities		239			239			240
Total liabilities		186			186			189
Accumulated deficit		(186)			(186)			(189)
Total equity		(186)			(186)			(189)
Total liabilities and equity								0
Income Statement Related Disclosures [Abstract]
Worldwide vehicle rental		(2)			1
Selling, general and administrative		(1)			0
Adjustments:		(1)			1
Income tax (provision) benefit		2			2
Net income (loss)		$ 1			$ 3
Basic earnings (loss) per share (in dollars per share)		$ 0.01			$ 0.04
Diluted earnings (loss) per share (in dollars per share)		$ 0.01			$ 0.04
Cash Flow Related Items [Abstract]
Net Cash Provided by (Used in) Investing Activities, Continuing Operations							(55)
Net cash provided by (used in) financing activities							834
Effect of Exchange Rate on Cash and Cash Equivalents, Continuing Operations							5
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period					$ 1,062		278
Deferred income taxes, net					(2)
Accrued liabilities					(1)
Difference between Revenue Guidance in Effect before and after Topic 606 | The Hertz Corporation | Accounting Standards Update 2014-09
Balance Sheet Related Disclosures [Abstract]
Deferred income taxes, net		$ (53)			(53)			(51)
Accrued liabilities		239			239			240
Total liabilities		186			186			189
Accumulated deficit		(186)			(186)			(189)
Total equity		(186)			(186)			(189)
Total liabilities and equity								$ 0
Income Statement Related Disclosures [Abstract]
Worldwide vehicle rental		(2)			1
Selling, general and administrative		(1)			0
Adjustments:		(1)			1
Income tax (provision) benefit		2			2
Net income (loss)		$ 1			3
Cash Flow Related Items [Abstract]
Net cash provided by (used in) investing activities							(55)
Net cash provided by (used in) financing activities							834
Effect of Exchange Rate on Cash and Cash Equivalents							5
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period					1,062		278
Deferred income taxes, net					(2)
Accrued liabilities					$ (1)
Vehicles | Accounting Standards Update 2014-09
Cash Flow Related Items [Abstract]
Change in restricted cash and cash equivalents							55
Vehicles | The Hertz Corporation | Accounting Standards Update 2014-09
Cash Flow Related Items [Abstract]
Change in restricted cash and cash equivalents							55
Vehicles | Calculated under Revenue Guidance in Effect before Topic 606
Cash Flow Related Items [Abstract]
Change in restricted cash and cash equivalents							0
Vehicles | Calculated under Revenue Guidance in Effect before Topic 606 | The Hertz Corporation
Cash Flow Related Items [Abstract]
Change in restricted cash and cash equivalents							0
Vehicles | Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Cash Flow Related Items [Abstract]
Change in restricted cash and cash equivalents							(55)
Vehicles | Difference between Revenue Guidance in Effect before and after Topic 606 | The Hertz Corporation | Accounting Standards Update 2014-09
Cash Flow Related Items [Abstract]
Change in restricted cash and cash equivalents							(55)
Non-vehicle | Accounting Standards Update 2014-09
Cash Flow Related Items [Abstract]
Change in restricted cash and cash equivalents							(834)
Non-vehicle | The Hertz Corporation | Accounting Standards Update 2014-09
Cash Flow Related Items [Abstract]
Change in restricted cash and cash equivalents							(834)
Non-vehicle | Calculated under Revenue Guidance in Effect before Topic 606
Cash Flow Related Items [Abstract]
Change in restricted cash and cash equivalents							0
Non-vehicle | Calculated under Revenue Guidance in Effect before Topic 606 | The Hertz Corporation
Cash Flow Related Items [Abstract]
Change in restricted cash and cash equivalents							0
Non-vehicle | Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Cash Flow Related Items [Abstract]
Change in restricted cash and cash equivalents							834
Non-vehicle | Difference between Revenue Guidance in Effect before and after Topic 606 | The Hertz Corporation | Accounting Standards Update 2014-09
Cash Flow Related Items [Abstract]
Change in restricted cash and cash equivalents							$ 834
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2018 and December 31, 2017 include total assets of variable interest entities (“VIEs”) of $706 million and $524 million, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2018 and December 31, 2017 include total liabilities of VIEs of $696 million and $524 million, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Special Purpose Entities" in Note 6, "Debt," and "Other Relationships" in Note 12, "Related Party Transactions," for further information.
[2]	The Hertz Corporation's consolidated total assets as of June 30, 2018 and December 31, 2017 include total assets of variable interest entities (“VIEs”) of $706 million and $524 million, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of June 30, 2018 and December 31, 2017 include total liabilities of VIEs of $696 million and $524 million, respectively, for which the creditors of the VIEs have no recourse to the Hertz Corporation. See "Special Purpose Entities" in Note 6, "Debt," and "Other Relationships" in Note 12, "Related Party Transactions," for further information.

Acquisitions and Divestitures (

Acquisitions and Divestitures (Divestiture) (Details) - USD ($) $ in Millions	1 Months Ended	6 Months Ended
	Mar. 31, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charges and asset write-downs		$ 0	$ 116
Discontinued Operations, Held-for-sale | Other Income (Expense)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charges and asset write-downs	$ 30

Revenue Earning Vehicles (Compo

Revenue Earning Vehicles (Components of Revenue Earning Vehicles) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Revenue earning vehicles	$ 17,256		$ 17,256		$ 14,209
Less: Accumulated depreciation	(3,162)		(3,162)		(3,123)
Subtotal	14,094		14,094		11,086
Revenue earning vehicles held for sale, net	323		323		250
Total revenue earning vehicles, net	14,417		14,417		$ 11,336
Depreciation of revenue earning vehicles	634	$ 660	1,228	$ 1,265
(Gain) loss on disposal of revenue earning equipment	31	66	78	145
Rents paid for vehicles leased	22	17	42	34
Depreciation of revenue earning equipment and lease charges, net	687	743	1,348	1,444
U.S. Rental Car
Property, Plant and Equipment [Line Items]
(Gain) loss on disposal of revenue earning equipment	34	67	79	145
Other cost of services	34		70	63
International Rental Car
Property, Plant and Equipment [Line Items]
(Gain) loss on disposal of revenue earning equipment	$ (3)	$ (1)	$ (1)	$ 0

Revenue Earning Vehicles (Depre

Revenue Earning Vehicles (Depreciation Rates) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue earning equipment
Depreciation rate changes	$ 4	$ 37	$ 15	$ 63
U.S. Rental Car
Revenue earning equipment
Depreciation rate changes	3	36	12	62
International Rental Car
Revenue earning equipment
Depreciation rate changes	1	1	$ 3	$ 1
Other Immaterial Error Corrections | U.S. Rental Car
Revenue earning equipment
Depreciation rate changes	$ 2	$ 24

Intangible Asset Impairment (De

Intangible Asset Impairment (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Finite-Lived Intangible Assets [Line Items]
Intangible asset impairments	$ 0	$ 86	$ 0	$ 86
Trade Names | U.S. Rental Car
Finite-Lived Intangible Assets [Line Items]
Intangible asset impairments		86
Trade Names | U.S. Rental Car | Fair Value, Measurements, Nonrecurring
Finite-Lived Intangible Assets [Line Items]
Indefinite-lived intangible assets		$ 934		$ 934

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) $ in Millions	Jun. 30, 2018USD ($)€ / $	Jun. 30, 2018EUR (€)€ / $	May 31, 2018EUR (€)	Dec. 31, 2017USD ($)€ / $
Debt Instrument [Line Items]
Debt:	$ 17,364			$ 14,865
Total Non-Vehicle Debt
Debt Instrument [Line Items]
Unamortized Net Discount	(38)			(42)
Debt:	$ 4,431			4,434
Senior Term Loan
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.85%	4.85%
Outstanding principal	$ 681			688
Senior RCF
Debt Instrument [Line Items]
Outstanding principal	$ 0			0
Senior Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.13%	6.13%
Outstanding principal	$ 2,500			2,500
5.875% Senior Notes due October 2020
Debt Instrument [Line Items]
Outstanding principal	$ 700			700
Interest rate	5.875%	5.875%
7.375% Senior Notes due January 2021
Debt Instrument [Line Items]
Outstanding principal	$ 500			500
Interest rate	7.375%	7.375%
6.250% Senior Notes due October 2022
Debt Instrument [Line Items]
Outstanding principal	$ 500			500
Interest rate	6.25%	6.25%
5.500% Senior Notes due October 2024
Debt Instrument [Line Items]
Outstanding principal	$ 800			800
Interest rate	5.50%	5.50%
Senior Second Priority Secured Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	7.63%	7.63%
Outstanding principal	$ 1,250			1,250
Promissory Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	7.00%	7.00%
Outstanding principal	$ 27			27
Non-Vehicle Debt
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.91%	1.91%
Outstanding principal	$ 11			11
Total Vehicle Debt
Debt Instrument [Line Items]
Unamortized Net Discount	(53)			(40)
Debt:	12,933			10,431
U.S. Fleet Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal	208			664
U.S. Fleet Medium Term Notes Series 2010-1 Notes
Debt Instrument [Line Items]
Outstanding principal	$ 0			39
U.S. Fleet Medium Term Notes Series 2013-1 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.91%	1.91%
Outstanding principal	$ 208			625
Total
Debt Instrument [Line Items]
Outstanding principal	$ 3,058			2,093
HVF II Series 2013-A
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.58%	3.58%
Outstanding principal	$ 3,030			1,970
HVF II Series 2013-B
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.52%	3.52%
Outstanding principal	$ 28			123
HVF II U.S. Fleet Variable Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal	$ 5,525			4,125
U.S. Fleet Medium Term Notes 2015 Series 1
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.93%	2.93%
Outstanding principal	$ 780			780
U.S. Fleet Medium Term Notes 2015 Series 2
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.45%	2.45%
Outstanding principal	$ 265			265
U.S. Fleet Medium Term Notes 2015 Series 3
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.10%	3.10%
Outstanding principal	$ 371			371
U.S. Fleet Medium Term Notes 2016 Series 1
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.89%	2.89%
Outstanding principal	$ 466			466
U.S. Fleet Medium Term Notes 2016 Series 2
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.41%	3.41%
Outstanding principal	$ 595			595
U.S. Fleet Medium Term Notes 2016 Series 3
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.72%	2.72%
Outstanding principal	$ 424			424
U.S. Fleet Medium Term Notes 2016 Series 4
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.09%	3.09%
Outstanding principal	$ 424			424
U.S. Fleet Medium Term Notes 2017 Series 1
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.38%	3.38%
Outstanding principal	$ 450			450
U.S. Fleet Medium Term Notes 2017 Series 2
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.57%	3.57%
Outstanding principal	$ 350			350
U.S. Fleet Medium Term Notes 2018 Series 1
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.41%	3.41%
Outstanding principal	$ 1,000			0
U.S. Fleet Medium Term Notes 2018 Series 2
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.80%	3.80%
Outstanding principal	$ 200			0
U.S. Fleet Medium Term Notes 2018 Series 3
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.15%	4.15%
Outstanding principal	$ 200			0
Donlen ABS Program
Debt Instrument [Line Items]
Outstanding principal	$ 66			380
HFLF Series 2013-2 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.56%	2.56%
Outstanding principal	$ 66			380
HFLF Variable Funding Notes
Debt Instrument [Line Items]
Outstanding principal	$ 1,354			963
HFLF Series 2015-1
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.97%	2.97%
Outstanding principal	$ 85			145
HFLF Series 2016-1
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.15%	3.15%
Outstanding principal	$ 239			318
HFLF Series 2017-1
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.61%	2.61%
Outstanding principal	$ 480			500
HFLF Series 2018-1
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.55%	2.55%
Outstanding principal	$ 550			0
Other Fleet Debt
Debt Instrument [Line Items]
Outstanding principal	$ 2,775			2,246
U.S. Vehicle RCF
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.56%	4.56%
Outstanding principal	$ 133			186
European Revolving Credit Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.95%	2.95%
Outstanding principal	$ 410			184
European Fleet Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.07%	5.07%
Outstanding principal	$ 838			$ 773
Foreign currency exchange rate (EURO to USD) | € / $	1.16	1.16		1.19
4.375% Senior Notes due January 2019
Debt Instrument [Line Items]
Outstanding principal	$ 0			$ 505
Interest rate	4.375%	4.375%
Face Amount | €		€ 425,000,000
4.125% Senior Notes due October 2021
Debt Instrument [Line Items]
Outstanding principal	$ 260			268
Interest rate	4.125%	4.125%
Face Amount | €		€ 225,000,000
European Fleet Notes, 5.500%, Due March 2023
Debt Instrument [Line Items]
Outstanding principal	$ 578			0
Interest rate	5.50%	5.50%
Face Amount | €		€ 500,000,000
European Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.70%	1.70%
Outstanding principal	$ 490			367
Canadian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.13%	3.13%
Outstanding principal	$ 308			237
Australian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.51%	3.51%
Outstanding principal	$ 132			155
New Zealand RCF
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.71%	4.71%
Outstanding principal	$ 36			42
UK Leveraged Financing
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.86%	2.86%
Outstanding principal	$ 377			251
Face Amount | €		€ 250,000,000	€ 287,500,000
Other Vehicle Debt
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.98%	3.98%
Outstanding principal	$ 51			$ 51

Debt (Narrative) (Details)

Debt (Narrative) (Details)	1 Months Ended			3 Months Ended		6 Months Ended
	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Jan. 31, 2018USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2018EUR (€)	Jun. 30, 2017USD ($)	Jul. 31, 2018EUR (€)	Jun. 30, 2018EUR (€)	Jun. 30, 2018CAD ($)	May 31, 2018EUR (€)	May 31, 2018CAD ($)	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Adjustments:				$ (86,000,000)	$ (245,000,000)	$ (317,000,000)		$ (539,000,000)
VIE, total assets	$ 706,000,000			706,000,000		706,000,000								$ 524,000,000
VIE, total liabilities	696,000,000			696,000,000		696,000,000								524,000,000
Remaining capacity	1,736,000,000			1,736,000,000		1,736,000,000
HFLF Variable Funding Notes
Debt Instrument [Line Items]
Outstanding principal	1,354,000,000			1,354,000,000		1,354,000,000								963,000,000
Remaining capacity	434,000,000			434,000,000		434,000,000
European Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding principal	410,000,000			410,000,000		410,000,000								184,000,000
Remaining capacity	96,000,000			96,000,000		96,000,000
European Vehicle Notes
Debt Instrument [Line Items]
Outstanding principal	838,000,000			838,000,000		838,000,000								773,000,000
HVF II Series 2017-A Notes And HVF II Series 2017-B Notes
Debt Instrument [Line Items]
Decrease to borrowing capacity of revolving credit facility		$ (250,000,000)
HVF II Series 2013 Notes
Debt Instrument [Line Items]
Decrease to borrowing capacity of revolving credit facility		(3,700,000,000)
HVF II Series 2017-A
Debt Instrument [Line Items]
Decrease to borrowing capacity of revolving credit facility		$ 500,000,000
HVF II Series 2018-2 Class A, B, C and D
Debt Instrument [Line Items]
Repayments of debt	0
Outstanding principal	426,000,000			426,000,000		426,000,000
European Securitization
Debt Instrument [Line Items]
Outstanding principal	490,000,000			490,000,000		490,000,000								367,000,000
Remaining capacity	41,000,000			41,000,000		41,000,000
UK Leveraged Financing
Debt Instrument [Line Items]
Face Amount | €										€ 250,000,000		€ 287,500,000
Outstanding principal	377,000,000			377,000,000		377,000,000								251,000,000
New Zealand RCF
Debt Instrument [Line Items]
Outstanding principal	36,000,000			36,000,000		36,000,000								42,000,000
Remaining capacity	5,000,000			5,000,000		5,000,000
HFLF Series 2015-1
Debt Instrument [Line Items]
Outstanding principal	85,000,000			85,000,000		85,000,000								145,000,000
Canadian Securitization
Debt Instrument [Line Items]
Outstanding principal	308,000,000			308,000,000		308,000,000								237,000,000
Remaining capacity	0			$ 0		0
Senior RCF
Debt Instrument [Line Items]
Fixed charge coverage ratio, number of quarters				1 year
Remaining capacity	502,000,000			$ 502,000,000		502,000,000
Senior RCF
Debt Instrument [Line Items]
Outstanding principal	0			0		0								0
Senior Term Loan
Debt Instrument [Line Items]
Outstanding principal	$ 681,000,000			$ 681,000,000		$ 681,000,000								688,000,000
5.500% Senior Notes due October 2024
Debt Instrument [Line Items]
Interest rate	5.50%			5.50%		5.50%				5.50%	5.50%
Outstanding principal	$ 800,000,000			$ 800,000,000		$ 800,000,000								800,000,000
U.S. Vehicle RCF
Debt Instrument [Line Items]
Outstanding principal	133,000,000			133,000,000		133,000,000								186,000,000
Remaining capacity	0			0		0
Total Vehicle Debt
Debt Instrument [Line Items]
Remaining capacity	1,234,000,000			1,234,000,000		1,234,000,000
HFLF Series 2013-2 Notes
Debt Instrument [Line Items]
Outstanding principal	66,000,000			66,000,000		66,000,000								380,000,000
HFLF Series 2017-1
Debt Instrument [Line Items]
Outstanding principal	480,000,000			480,000,000		480,000,000								500,000,000
HFLF Series 2016-1
Debt Instrument [Line Items]
Outstanding principal	$ 239,000,000			$ 239,000,000		$ 239,000,000								318,000,000
4.125% Senior Notes due October 2021
Debt Instrument [Line Items]
Interest rate	4.125%			4.125%		4.125%				4.125%	4.125%
Face Amount | €										€ 225,000,000
Outstanding principal	$ 260,000,000			$ 260,000,000		$ 260,000,000								268,000,000
Senior Notes
Debt Instrument [Line Items]
Outstanding principal	2,500,000,000			2,500,000,000		2,500,000,000								2,500,000,000
HVF II Series 2013-A
Debt Instrument [Line Items]
Outstanding principal	3,030,000,000			3,030,000,000		3,030,000,000								1,970,000,000
HVF II Series 2013-B
Debt Instrument [Line Items]
Outstanding principal	28,000,000			28,000,000		28,000,000								123,000,000
HVF II Series 2018-1 Class A, B, C and D
Debt Instrument [Line Items]
Outstanding principal			$ 1,100,000,000
HVF II Series 2018-1 Class D
Debt Instrument [Line Items]
Repayments of debt			$ 58,000,000
HFLF Series 2018-1
Debt Instrument [Line Items]
Outstanding principal	$ 550,000,000			$ 550,000,000		$ 550,000,000								0
European Fleet Notes, 5.500%, Due March 2023
Debt Instrument [Line Items]
Interest rate	5.50%			5.50%		5.50%				5.50%	5.50%
Face Amount | €										€ 500,000,000
Outstanding principal	$ 578,000,000			$ 578,000,000		$ 578,000,000								0
UK Leveraged Financing, Due January 2019
Debt Instrument [Line Items]
Interest rate	400.00%			400.00%		400.00%				400.00%	400.00%
Subsequent Event | UK Leveraged Financing, Due September 2018
Debt Instrument [Line Items]
Face Amount | €									€ 300,000,000
Letter of Credit
Debt Instrument [Line Items]
Outstanding standby letters of credit	$ 676,000,000			$ 676,000,000		$ 676,000,000
Vehicles
Debt Instrument [Line Items]
Repayments of principal in next twelve months	2,200,000,000			2,200,000,000		2,200,000,000
Proceeds from issuance of debt						9,414,000,000		5,028,000,000
Repayments of debt						6,829,000,000		3,665,000,000
Non-vehicle
Debt Instrument [Line Items]
Repayments of principal in next twelve months	25,000,000			25,000,000		25,000,000
Proceeds from issuance of debt						187,000,000		2,100,000,000
Repayments of debt						194,000,000		$ 354,000,000
Revolving Credit Facility | Senior RCF
Debt Instrument [Line Items]
Outstanding standby letters of credit	363,000,000			363,000,000		363,000,000
Revolving Credit Facility | European Securitization, Due October 2018
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity | €										€ 438,000,000
Revolving Credit Facility | European Revolving Credit Facility, Due January 2019
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity | €										€ 235,000,000
Revolving Credit Facility | Canadian Securitization, Due October 2018
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity													$ 410,000,000
Revolving Credit Facility | Canadian Securitization Funding LP Series 2015-A Notes
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity											$ 350,000,000
Revolving Credit Facility | Letter of Credit | Senior RCF
Debt Instrument [Line Items]
Decrease to borrowing capacity of revolving credit facility	(302,000,000)
Line of credit facility, maximum borrowing capacity	865,000,000			865,000,000		865,000,000
Letter of Credit
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	400,000,000			400,000,000		400,000,000
Letter of Credit | Senior RCF
Debt Instrument [Line Items]
Outstanding standby letters of credit	302,000,000			302,000,000		302,000,000
International Fleet Financing No. 2 B.V.
Debt Instrument [Line Items]
VIE, total assets	696,000,000			696,000,000		696,000,000								524,000,000
VIE, total liabilities	$ 696,000,000			$ 696,000,000		$ 696,000,000								$ 524,000,000
Ownership percentage						25.00%	25.00%
Restricted Cash | European Fleet Notes, 5.500%, Due March 2023
Debt Instrument [Line Items]
Proceeds from issuance of debt | €							€ 425,000,000

Debt (Borrowing Capacity) (Deta

Debt (Borrowing Capacity) (Details) $ in Millions	Jun. 30, 2018USD ($)
Debt Instrument [Line Items]
Remaining capacity	$ 1,736
Availability under borrowing base limitation	508
Senior RCF
Debt Instrument [Line Items]
Remaining capacity	502
Availability under borrowing base limitation	502
Letter of Credit Facility
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
Total Non-Vehicle Debt
Debt Instrument [Line Items]
Remaining capacity	502
Availability under borrowing base limitation	502
U.S. Vehicle RCF
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
HVF II U.S. Vehicle Variable Funding Notes
Debt Instrument [Line Items]
Remaining capacity	607
Availability under borrowing base limitation	0
HFLF Variable Funding Notes
Debt Instrument [Line Items]
Remaining capacity	434
Availability under borrowing base limitation	6
European Revolving Credit Facility
Debt Instrument [Line Items]
Remaining capacity	96
Availability under borrowing base limitation	0
European Securitization
Debt Instrument [Line Items]
Remaining capacity	41
Availability under borrowing base limitation	0
Canadian Securitization
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
Australian Securitization
Debt Instrument [Line Items]
Remaining capacity	51
Availability under borrowing base limitation	0
U.K. Financing Facility
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
New Zealand RCF
Debt Instrument [Line Items]
Remaining capacity	5
Availability under borrowing base limitation	0
Total Vehicle Debt
Debt Instrument [Line Items]
Remaining capacity	1,234
Availability under borrowing base limitation	$ 6

Debt (Covenant Ratios) (Details

Debt (Covenant Ratios) (Details)	Jun. 30, 2018
Senior Revolving Credit Facility and Letter of Credit Facility
Debt Instrument [Line Items]
Maximum consolidated leverage ratio	3

Revenue Disaggregated Revenue -

Revenue Disaggregated Revenue - Products and Serives and Geographical (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 2,227	$ 4,133
Vehicles
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	2,146	3,976
Other Revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	81	157
Licensee revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	46	84
Ancillary retail vehicle sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	25	51
Fleet management
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	10	22
Airport
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,474	2,707
Off airport
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	672	1,269
U.S. Rental Car
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,628	3,054
U.S. Rental Car | Vehicles
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,595	2,989
U.S. Rental Car | Other Revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	33	65
U.S. Rental Car | Licensee revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	8	14
U.S. Rental Car | Ancillary retail vehicle sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	25	51
U.S. Rental Car | Fleet management
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
U.S. Rental Car | Airport
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	1,142	2,124
U.S. Rental Car | Off airport
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	453	865
International Rental Car
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	589	1,057
International Rental Car | Vehicles
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	551	987
International Rental Car | Other Revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	38	70
International Rental Car | Licensee revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	38	70
International Rental Car | Ancillary retail vehicle sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
International Rental Car | Fleet management
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
International Rental Car | Airport
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	332	583
International Rental Car | Off airport
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	219	404
All Other Operations
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	10	22
All Other Operations | Vehicles
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
All Other Operations | Other Revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	10	22
All Other Operations | Licensee revenue
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
All Other Operations | Ancillary retail vehicle sales
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
All Other Operations | Fleet management
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	10	22
All Other Operations | Airport
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	0	0
All Other Operations | Off airport
Disaggregation of Revenue [Line Items]
Revenue from contracts with customers	$ 0	$ 0

Revenue Narrative (Details)

Revenue Narrative (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Jan. 01, 2018
Revenue from Contract with Customer [Abstract]
Contract with Customer, Customer Loyalty Program Point Balance Liability, Revenue Recognized	$ 1	$ 4
Loyalty points revenue recognized	87	96
Outstanding point balance amount	261	261
Contract with customer liability	$ 412	$ 412	$ 388	$ 345

Revenue Contracted Balances (De

Revenue Contracted Balances (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Jan. 01, 2018
Contract with Customer, Liability [Abstract]
Contract with customer liability	$ 412	$ 412	$ 388	$ 345
Loyalty points revenue recognized	$ 87	$ 96

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Income Tax Contingency [Line Items]
Effective tax rate (as percent)	27.00%	36.00%	16.00%	29.00%
Income tax (provision) benefit	$ 23	$ 87	$ 52	$ 158
The Hertz Corporation
Income Tax Contingency [Line Items]
Effective tax rate (as percent)	27.00%	35.00%	16.00%	29.00%
Income tax (provision) benefit	$ 23	$ 86	$ 51	$ 157

Earnings (Loss) Per Share - H44

Earnings (Loss) Per Share - Hertz Global (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Numerator:
Net income (loss), basic and diluted	$ (63)	$ (158)	$ (265)	$ (381)
Denominator:
Basic weighted average common shares	84	83	83	83
Dilutive stock options, RSUs, PSUs and PSAs	0	0	0	0
Weighted average shares used to calculate diluted earnings per share	84	83	83	83
Earnings (loss) per share:
Basic earnings (loss) per share (in dollars per share)	$ (0.75)	$ (1.90)	$ (3.19)	$ (4.59)
Diluted earnings (loss) per share (in dollars per share)	$ (0.75)	$ (1.90)	$ (3.19)	$ (4.59)
Antidilutive stock options, RSUs and PSUs
Denominator:
Antidilutive stock options, RSUs, PSUs and PSAs	3	3	3	3

Fair Value Measurements (Cash a

Fair Value Measurements (Cash and Cash Equivalents and Investments) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Money market funds and time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 485	$ 634
Money market funds and time deposits | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	485	634
Money market funds and time deposits | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Money market funds and time deposits | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	41	0
Equity Securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	41	0
Equity Securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Equity Securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 0	$ 0

Fair Value Measurements (Financ

Fair Value Measurements (Financial Instruments) (Details) - Fair Value, Measurements, Recurring - Level 2 - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Fair Value of Financial Instruments [Abstract]
Nominal Unpaid Principal Balance	$ 17,455	$ 14,947
Aggregate Fair Value	17,065	14,894
Non-Vehicle Debt
Fair Value of Financial Instruments [Abstract]
Nominal Unpaid Principal Balance	4,469	4,476
Aggregate Fair Value	4,154	4,438
Total Vehicle Debt
Fair Value of Financial Instruments [Abstract]
Nominal Unpaid Principal Balance	12,986	10,471
Aggregate Fair Value	$ 12,911	$ 10,456

Contingencies and Off-Balance47

Contingencies and Off-Balance Sheet Commitments (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Public liability and property damage	$ 421	$ 427

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	1 Months Ended		3 Months Ended		6 Months Ended
	May 30, 2018USD ($)	Feb. 28, 2018USD ($)	Jun. 30, 2018USD ($)Vehicle	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)Vehicle	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)	Jun. 30, 2016USD ($)
Related Party Transaction [Line Items]
Due from related parties				$ 425		$ 425		$ 425
Mr. Icahn
Related Party Transaction [Line Items]
Purchases from related party			$ 11	$ 2	$ 17	$ 4
Mr. Icahn | Sale of Marketable Securities [Member]
Related Party Transaction [Line Items]
Revenue from transaction with related party	$ 36
Mr. Icahn | Master Loan Agreement
Related Party Transaction [Line Items]
Due from related parties			113		113		$ 107
Mr. Icahn | Tax Related Liability
Related Party Transaction [Line Items]
Due from related parties			$ 65		$ 65		$ 65
767 Auto Leasing, LLC
Related Party Transaction [Line Items]
Number of vehicles sold | Vehicle			586		592
Amount of transaction			$ 7
767 Auto Leasing, LLC | Master Motor Vehicle Lease and Management Agreement
Related Party Transaction [Line Items]
Operating income or loss, percent					25.00%
767 Auto Leasing, LLC | American
Related Party Transaction [Line Items]
Contributions from affiliates	$ 5	$ 5

Segment Information (Details)

Segment Information (Details) $ in Millions		3 Months Ended			6 Months Ended
		Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Mar. 31, 2017USD ($)	Jun. 30, 2018USD ($)segment	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Number of reportable segments | segment					3
Revenues		$ 2,389	$ 2,224		$ 4,452	$ 4,140
Depreciation of revenue earning vehicles and lease charges, net		687	743		1,348	1,444
Adjusted pre-tax income (loss):		(21)	(82)		(197)	(295)
Total Assets	[1]	22,771			22,771		$ 20,058
Adjustments:		86	245		317	539
Intangible asset impairments		0	86		0	86
Equity method investment, other than temporary impairment				$ 30
Gain (Loss) on Sale of Equity Investments					17	3
Purchase accounting
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		15	16		30	31
Other
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		13	10		26	21
Loss on extinguishment of debt
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		20	8		22	8
Restructuring and restructuring related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		10	5		13	13
Impairment charges and asset write-downs
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		0	86		0	116
Finance and Information Technology Transformation Costs
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		29	20		51	39
Other
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		(22)	18		(22)	16
Operating Segments
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):		122	38		92	(61)
Operating Segments | U.S. Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues		1,628	1,519		3,054	2,872
Depreciation of revenue earning vehicles and lease charges, net		447	524		881	1,023
Adjusted pre-tax income (loss):		24	(37)		(24)	(152)
Total Assets		14,847			14,847		12,785
Operating Segments | International Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues		589	543		1,057	955
Depreciation of revenue earning vehicles and lease charges, net		112	100		214	185
Adjusted pre-tax income (loss):		74	56		69	52
Total Assets		4,973			4,973		3,971
Operating Segments | All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues		172	162		341	313
Depreciation of revenue earning vehicles and lease charges, net		128	119		253	236
Adjusted pre-tax income (loss):		24	19		47	39
Total Assets		1,759			1,759		1,700
Corporate, Non-Segment
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):		(143)	(120)		(289)	(234)
Total Assets		1,192			1,192		1,602
The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues		2,389	2,224		4,452	4,140
Depreciation of revenue earning vehicles and lease charges, net		687	743		1,348	1,444
Adjusted pre-tax income (loss):		(19)	(81)		(194)	(293)
Total Assets	[2]	22,771			22,771		$ 20,058
Adjustments:		84	244		314	537
Intangible asset impairments		0	86		0	86
Gain (Loss) on Sale of Equity Investments		17				3
The Hertz Corporation | Purchase accounting
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		15	16		30	31
The Hertz Corporation | Other
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		13	10		26	21
The Hertz Corporation | Loss on extinguishment of debt
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		20	8		22	8
The Hertz Corporation | Restructuring and restructuring related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		10	5		13	13
The Hertz Corporation | Impairment charges and asset write-downs
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		0	86		0	116
The Hertz Corporation | Finance and Information Technology Transformation Costs
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		29	20		51	39
The Hertz Corporation | Other
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		(22)	18		(22)	16
The Hertz Corporation | Settlement
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:		(6)
The Hertz Corporation | Operating Segments
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):		122	38		92	(61)
The Hertz Corporation | Operating Segments | U.S. Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):		24	(37)		(24)	(152)
The Hertz Corporation | Operating Segments | International Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):		74	56		69	52
The Hertz Corporation | Operating Segments | All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):		24	19		47	39
The Hertz Corporation | Corporate, Non-Segment
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):		(141)	(119)		(286)	(232)
The Hertz Corporation | Segment Reconciling Items
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):		$ 2	1		$ 3	2
Product Concentration Risk | Cost of Goods, Segment | All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Concentration risk, percentage (less than)					2.00%
Product Concentration Risk | Revenues | All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Concentration risk, percentage (less than)					2.00%
Senior Notes 4.25% Due April 2018 | The Hertz Corporation | Loss on extinguishment of debt
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:						(6)
Senior Revolving Credit Facility | The Hertz Corporation | Loss on extinguishment of debt
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:						$ (2)
Trade Names | U.S. Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Intangible asset impairments			86
BRAZIL | The Hertz Corporation | International Rental Car | Settlement
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:			(5)
BRAZIL | The Hertz Corporation | International Rental Car | Labor-Related Matters [Member]
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:			$ (6)
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2018 and December 31, 2017 include total assets of variable interest entities (“VIEs”) of $706 million and $524 million, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2018 and December 31, 2017 include total liabilities of VIEs of $696 million and $524 million, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Special Purpose Entities" in Note 6, "Debt," and "Other Relationships" in Note 12, "Related Party Transactions," for further information.
[2]	The Hertz Corporation's consolidated total assets as of June 30, 2018 and December 31, 2017 include total assets of variable interest entities (“VIEs”) of $706 million and $524 million, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of June 30, 2018 and December 31, 2017 include total liabilities of VIEs of $696 million and $524 million, respectively, for which the creditors of the VIEs have no recourse to the Hertz Corporation. See "Special Purpose Entities" in Note 6, "Debt," and "Other Relationships" in Note 12, "Related Party Transactions," for further information.

Guarantor and Non-Guarantor C50

Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2018	Dec. 31, 2017
Condensed Financial Statements, Captions [Line Items]
Prepaid expenses and other assets		$ 922	$ 687
Restatement Adjustment | Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Adjustment to cash flows from investing activities	$ 159

Guarantor and Non-Guarantor C51

Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz (Balance Sheet) (Details) - USD ($) $ in Millions		Jun. 30, 2018		Jan. 01, 2018	Dec. 31, 2017		Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
ASSETS
Cash and cash equivalents		$ 685			$ 1,072
Restricted cash and cash equivalents:		236			432
Total cash, cash equivalents, restricted cash and restricted cash equivalents		921			1,504		$ 2,203	$ 1,094
Receivables, net of allowance		1,426			1,365
Due from related parties							425		$ 425
Prepaid expenses and other assets		922			687
Revenue earning vehicles, net		14,417			11,336
Property and equipment, net		802			840
Other intangible assets, net		3,200			3,242
Goodwill		1,083			1,084
Total assets(a)	[1]	22,771			20,058
LIABILITIES AND STOCKHOLDERS' EQUITY
Total accounts payable		1,491			946
Accrued liabilities		1,158		$ 1,160	920
Accrued taxes, net		162			160
Debt		17,364			14,865
Public liability and property damage		421			427
Deferred income taxes, net		1,106		1,169	1,220
Total liabilities		21,702	[1]	18,727	18,538	[1]
Equity:
Total stockholder's equity attributable to Hertz		1,059			1,520
Non-controlling interest		10			0
Total stockholders' equity		1,069		1,331	1,520
Total liabilities and stockholders' equity		22,771		$ 20,058	20,058
Eliminations
ASSETS
Cash and cash equivalents		0			0
Restricted cash and cash equivalents:		0			0
Total cash, cash equivalents, restricted cash and restricted cash equivalents		0			0		0	0
Receivables, net of allowance		0			0
Due from related parties		(17,487)			(16,734)
Prepaid expenses and other assets		(3,786)			(3,399)
Revenue earning vehicles, net		0			0
Property and equipment, net		0			0
Investment in subsidiaries, net		(9,065)			(9,231)
Other intangible assets, net		0			0
Goodwill		0			0
Total assets(a)		(30,338)			(29,364)
LIABILITIES AND STOCKHOLDERS' EQUITY
Due to affiliates		(17,487)			(16,734)
Total accounts payable		0			0
Accrued liabilities		0			0
Accrued taxes, net		(2,398)			(2,173)
Debt		0			0
Public liability and property damage		0			0
Deferred income taxes, net		(1,388)			(1,226)
Total liabilities		(21,273)			(20,133)
Equity:
Total stockholder's equity attributable to Hertz		(9,065)
Non-controlling interest		0
Total stockholders' equity		(9,065)			(9,231)
Total liabilities and stockholders' equity		(30,338)			(29,364)
Parent (The Hertz Corporation) | Reportable Legal Entities
ASSETS
Cash and cash equivalents		393			686
Restricted cash and cash equivalents:		71			225
Total cash, cash equivalents, restricted cash and restricted cash equivalents		464			911		1,729	511
Receivables, net of allowance		468			366
Due from related parties		3,565			3,373
Prepaid expenses and other assets		4,367			3,747
Revenue earning vehicles, net		402			352
Property and equipment, net		606			639
Investment in subsidiaries, net		7,767			7,966
Other intangible assets, net		128			141
Goodwill		102			102
Total assets(a)		17,869			17,597
LIABILITIES AND STOCKHOLDERS' EQUITY
Due to affiliates		10,843			10,368
Total accounts payable		466			375
Accrued liabilities		685			473
Accrued taxes, net		76			77
Debt		4,563			4,619
Public liability and property damage		178			165
Deferred income taxes, net		0			0
Total liabilities		16,811			16,077
Equity:
Total stockholder's equity attributable to Hertz		1,058
Non-controlling interest		0
Total stockholders' equity		1,058			1,520
Total liabilities and stockholders' equity		17,869			17,597
Guarantor Subsidiaries | Reportable Legal Entities
ASSETS
Cash and cash equivalents		6			9
Restricted cash and cash equivalents:		9			7
Total cash, cash equivalents, restricted cash and restricted cash equivalents		15			16		18	17
Receivables, net of allowance		163			167
Due from related parties		5,070			4,567
Prepaid expenses and other assets		40			37
Revenue earning vehicles, net		2			2
Property and equipment, net		63			61
Investment in subsidiaries, net		1,298			1,265
Other intangible assets, net		3,065			3,091
Goodwill		943			944
Total assets(a)		10,659			10,150
LIABILITIES AND STOCKHOLDERS' EQUITY
Due to affiliates		2,328			2,156
Total accounts payable		115			92
Accrued liabilities		69			73
Accrued taxes, net		18			21
Debt		0			0
Public liability and property damage		41			37
Deferred income taxes, net		1,485			1,451
Total liabilities		4,056			3,830
Equity:
Total stockholder's equity attributable to Hertz		6,603
Non-controlling interest		0
Total stockholders' equity		6,603			6,320
Total liabilities and stockholders' equity		10,659			10,150
Non-Guarantor Subsidiaries | Reportable Legal Entities
ASSETS
Cash and cash equivalents		286			377
Restricted cash and cash equivalents:		156			200
Total cash, cash equivalents, restricted cash and restricted cash equivalents		442			577		456	566
Receivables, net of allowance		795			832
Due from related parties		8,852			8,794
Prepaid expenses and other assets		301			302
Revenue earning vehicles, net		14,013			10,982
Property and equipment, net		133			140
Investment in subsidiaries, net		0			0
Other intangible assets, net		7			10
Goodwill		38			38
Total assets(a)		24,581			21,675
LIABILITIES AND STOCKHOLDERS' EQUITY
Due to affiliates		4,316			4,210
Total accounts payable		910			479
Accrued liabilities		404			374
Accrued taxes, net		2,466			2,235
Debt		12,801			10,246
Public liability and property damage		202			225
Deferred income taxes, net		1,010			995
Total liabilities		22,109			18,764
Equity:
Total stockholder's equity attributable to Hertz		2,462
Non-controlling interest		10
Total stockholders' equity		2,472			2,911
Total liabilities and stockholders' equity		24,581			21,675
The Hertz Corporation
ASSETS
Cash and cash equivalents		685			1,072
Restricted cash and cash equivalents:		236			432
Total cash, cash equivalents, restricted cash and restricted cash equivalents		921			1,504		$ 2,203	$ 1,094
Receivables, net of allowance		1,426			1,365
Due from related parties		0			0
Prepaid expenses and other assets		922			687
Revenue earning vehicles, net		14,417			11,336
Property and equipment, net		802			840
Investment in subsidiaries, net		0			0
Other intangible assets, net		3,200			3,242
Goodwill		1,083			1,084
Total assets(a)	[2]	22,771			20,058
LIABILITIES AND STOCKHOLDERS' EQUITY
Due to affiliates		0			0
Total accounts payable		1,491			946
Accrued liabilities		1,158			920
Accrued taxes, net		162			160
Debt		17,364			14,865
Public liability and property damage		421			427
Deferred income taxes, net		1,107			1,220
Total liabilities	[2]	21,703			18,538
Equity:
Total stockholder's equity attributable to Hertz		1,058			1,520
Non-controlling interest		10			0
Total stockholders' equity		1,068			1,520
Total liabilities and stockholders' equity		$ 22,771			$ 20,058
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2018 and December 31, 2017 include total assets of variable interest entities (“VIEs”) of $706 million and $524 million, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2018 and December 31, 2017 include total liabilities of VIEs of $696 million and $524 million, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Special Purpose Entities" in Note 6, "Debt," and "Other Relationships" in Note 12, "Related Party Transactions," for further information.
[2]	The Hertz Corporation's consolidated total assets as of June 30, 2018 and December 31, 2017 include total assets of variable interest entities (“VIEs”) of $706 million and $524 million, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of June 30, 2018 and December 31, 2017 include total liabilities of VIEs of $696 million and $524 million, respectively, for which the creditors of the VIEs have no recourse to the Hertz Corporation. See "Special Purpose Entities" in Note 6, "Debt," and "Other Relationships" in Note 12, "Related Party Transactions," for further information.

Guarantor and Non-Guarantor C52

Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz (Statement of Operations and Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 2,389	$ 2,224	$ 4,452	$ 4,140
Expenses:
Direct vehicle and operating	1,349	1,255	2,585	2,387
Depreciation of revenue earning vehicles and lease charges, net	687	743	1,348	1,444
Selling, general and administrative	265	223	498	442
Interest (income) expense, net	200	158	367	289
Intangible asset impairments	0	86	0	86
Other (income) expense, net	(26)	4	(29)	31
Total expenses	2,475	2,469	4,769	4,679
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(86)	(245)	(317)	(539)
Income tax (provision) benefit	23	87	52	158
Net income (loss)	(63)	(158)	(265)	(381)
Other comprehensive income (loss), net of tax	(14)	(7)	(17)	6
Total comprehensive income (loss)	(77)	(165)	(282)	(375)
Eliminations
Condensed Financial Statements, Captions [Line Items]
Revenues	(1,301)	(1,171)	(2,102)	(1,989)
Expenses:
Direct vehicle and operating	0	0	0	0
Depreciation of revenue earning vehicles and lease charges, net	(1,301)	(1,108)	(2,102)	(1,867)
Selling, general and administrative	0	0	0	0
Interest (income) expense, net	0	0	0	0
Intangible asset impairments		0	0	0
Other (income) expense, net	0	0	0	0
Total expenses	(1,301)	(1,108)	(2,102)	(1,867)
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	0	(63)	0	(122)
Income tax (provision) benefit	0	0	0	0
Equity in earnings (losses) of subsidiaries, net of tax	(858)	(366)	(1,282)	(602)
Net income (loss)	(858)	(429)	(1,282)	(724)
Other comprehensive income (loss), net of tax	17	5	22	(7)
Total comprehensive income (loss)	(841)	(424)	(1,260)	(731)
Parent (The Hertz Corporation) | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Revenues	1,193	1,170	2,249	2,220
Expenses:
Direct vehicle and operating	839	741	1,590	1,429
Depreciation of revenue earning vehicles and lease charges, net	1,220	1,024	1,985	1,761
Selling, general and administrative	179	156	340	306
Interest (income) expense, net	100	101	204	183
Intangible asset impairments		0	0	0
Other (income) expense, net	(25)	0	(27)	33
Total expenses	2,313	2,022	4,092	3,712
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(1,120)	(852)	(1,843)	(1,492)
Income tax (provision) benefit	235	358	356	572
Equity in earnings (losses) of subsidiaries, net of tax	824	336	1,224	540
Net income (loss)	(61)	(158)	(263)	(380)
Other comprehensive income (loss), net of tax	(14)	(7)	(17)	6
Total comprehensive income (loss)	(75)	(165)	(280)	(374)
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Revenues	368	354	687	661
Expenses:
Direct vehicle and operating	182	181	354	350
Depreciation of revenue earning vehicles and lease charges, net	98	113	182	215
Selling, general and administrative	16	8	28	19
Interest (income) expense, net	(37)	(25)	(70)	(47)
Intangible asset impairments		86	0	86
Other (income) expense, net	0	0	0	0
Total expenses	259	363	494	623
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	109	(9)	193	38
Income tax (provision) benefit	(21)	1	(35)	(14)
Equity in earnings (losses) of subsidiaries, net of tax	34	30	58	62
Net income (loss)	122	22	216	86
Other comprehensive income (loss), net of tax	(3)	3	(5)	3
Total comprehensive income (loss)	119	25	211	89
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Revenues	2,129	1,871	3,618	3,248
Expenses:
Direct vehicle and operating	328	333	641	608
Depreciation of revenue earning vehicles and lease charges, net	670	714	1,283	1,335
Selling, general and administrative	70	59	130	117
Interest (income) expense, net	135	81	230	151
Intangible asset impairments		0	0	0
Other (income) expense, net	(1)	4	(2)	(2)
Total expenses	1,202	1,191	2,282	2,209
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	927	680	1,336	1,039
Income tax (provision) benefit	(191)	(273)	(270)	(401)
Equity in earnings (losses) of subsidiaries, net of tax	0	0	0	0
Net income (loss)	736	407	1,066	638
Other comprehensive income (loss), net of tax	(14)	(8)	(17)	4
Total comprehensive income (loss)	722	399	1,049	642
The Hertz Corporation
Condensed Financial Statements, Captions [Line Items]
Revenues	2,389	2,224	4,452	4,140
Expenses:
Direct vehicle and operating	1,349	1,255	2,585	2,387
Depreciation of revenue earning vehicles and lease charges, net	687	743	1,348	1,444
Selling, general and administrative	265	223	498	442
Interest (income) expense, net	198	157	364	287
Intangible asset impairments	0	86	0	86
Other (income) expense, net	(26)	4	(29)	31
Total expenses	2,473	2,468	4,766	4,677
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(84)	(244)	(314)	(537)
Income tax (provision) benefit	23	86	51	157
Equity in earnings (losses) of subsidiaries, net of tax	0	0	0	0
Net income (loss)	(61)	(158)	(263)	(380)
Other comprehensive income (loss), net of tax	(14)	(7)	(17)	6
Total comprehensive income (loss)	$ (75)	$ (165)	$ (280)	$ (374)

Guarantor and Non-Guarantor C53

Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz (Statement of Cash Flows) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 942	$ 963
Cash flows from investing activities:
Revenue earning vehicles expenditures	(7,610)	(6,709)
Proceeds from disposal of revenue earning vehicles	3,654	3,835
Capital asset expenditures, non-vehicle	(80)	(84)
Proceeds from disposal of property and other equipment	8	11
Purchases of marketable securities	(61)	0
Sales of marketable securities	36	9
Other	(2)	(2)
Net cash provided by (used in) investing activities	(4,055)	(2,940)
Cash flows from financing activities:
Payment of financing costs	(27)	(34)
Early redemption premium payment	(19)	(5)
Other	8	(1)
Net cash provided by (used in) financing activities	2,540	3,069
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	(10)	17
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	(583)	1,109
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	1,504	1,094
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	921	2,203
Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	9,414	5,028
Repayments of debt	(6,829)	(3,665)
Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	187	2,100
Repayments of debt	(194)	(354)
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(1,119)	(822)
Cash flows from investing activities:
Revenue earning vehicles expenditures	0	0
Proceeds from disposal of revenue earning vehicles	0	0
Capital asset expenditures, non-vehicle	0	0
Proceeds from disposal of property and other equipment	0	0
Purchases of marketable securities	0
Sales of marketable securities	0	0
Other	0	0
Capital contributions to subsidiaries	1,978	1,260
Return of capital from subsidiaries	(1,900)	(1,739)
Loan to Parent/Guarantor from Non-Guarantor	(76)	(431)
Net cash provided by (used in) investing activities	2	(910)
Cash flows from financing activities:
Payment of financing costs	0	0
Advances to Hertz Global/Old Hertz Holdings	0	0
Early redemption premium payment	0	0
Other	0
Capital contributions received from parent	(1,978)	(1,260)
Payment of dividends and return of capital	3,019	2,561
Loan to Parent/Guarantor from Non-Guarantor	76	431
Net cash provided by (used in) financing activities	1,117	1,732
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	0	0
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	0	0
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	0	0
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	0	0
Eliminations | Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	0	0
Repayments of debt	0	0
Eliminations | Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	0	0
Repayments of debt	0	0
Parent (The Hertz Corporation) | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(34)	(396)
Cash flows from investing activities:
Revenue earning vehicles expenditures	(213)	(171)
Proceeds from disposal of revenue earning vehicles	96	91
Capital asset expenditures, non-vehicle	(54)	(56)
Proceeds from disposal of property and other equipment	3	6
Purchases of marketable securities	(60)
Sales of marketable securities	36	0
Other	0	0
Capital contributions to subsidiaries	(1,978)	(1,260)
Return of capital from subsidiaries	1,900	1,739
Loan to Parent/Guarantor from Non-Guarantor	0	0
Net cash provided by (used in) investing activities	(270)	349
Cash flows from financing activities:
Payment of financing costs	(1)	(16)
Advances to Hertz Global/Old Hertz Holdings	(6)	(3)
Early redemption premium payment	0	(5)
Other	1
Capital contributions received from parent	0	0
Payment of dividends and return of capital	0	0
Loan to Parent/Guarantor from Non-Guarantor	(76)	(431)
Net cash provided by (used in) financing activities	(143)	1,265
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	0	0
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	(447)	1,218
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	911	511
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	464	1,729
Parent (The Hertz Corporation) | Reportable Legal Entities | Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	1,172	631
Repayments of debt	(1,226)	(657)
Parent (The Hertz Corporation) | Reportable Legal Entities | Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	187	2,100
Repayments of debt	(194)	(354)
Guarantor Subsidiaries | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	5	15
Cash flows from investing activities:
Revenue earning vehicles expenditures	0	(5)
Proceeds from disposal of revenue earning vehicles	0	0
Capital asset expenditures, non-vehicle	(6)	(5)
Proceeds from disposal of property and other equipment	0	0
Purchases of marketable securities	0
Sales of marketable securities	0	0
Other	0	0
Capital contributions to subsidiaries	0	0
Return of capital from subsidiaries	0	0
Loan to Parent/Guarantor from Non-Guarantor	0	0
Net cash provided by (used in) investing activities	(6)	(10)
Cash flows from financing activities:
Payment of financing costs	0	(4)
Advances to Hertz Global/Old Hertz Holdings	0	0
Early redemption premium payment	0	0
Other	0
Capital contributions received from parent	0	0
Payment of dividends and return of capital	0	0
Loan to Parent/Guarantor from Non-Guarantor	0	0
Net cash provided by (used in) financing activities	0	(4)
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	0	0
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	(1)	1
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	16	17
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	15	18
Guarantor Subsidiaries | Reportable Legal Entities | Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	0	0
Repayments of debt	0	0
Guarantor Subsidiaries | Reportable Legal Entities | Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	0	0
Repayments of debt	0	0
Non-Guarantor Subsidiaries | Reportable Legal Entities
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	2,093	2,168
Cash flows from investing activities:
Revenue earning vehicles expenditures	(7,397)	(6,533)
Proceeds from disposal of revenue earning vehicles	3,558	3,744
Capital asset expenditures, non-vehicle	(20)	(23)
Proceeds from disposal of property and other equipment	5	5
Purchases of marketable securities	(1)
Sales of marketable securities	0	9
Other	(2)	(2)
Capital contributions to subsidiaries	0	0
Return of capital from subsidiaries	0	0
Loan to Parent/Guarantor from Non-Guarantor	76	431
Net cash provided by (used in) investing activities	(3,781)	(2,369)
Cash flows from financing activities:
Payment of financing costs	(26)	(14)
Advances to Hertz Global/Old Hertz Holdings	0	0
Early redemption premium payment	(19)	0
Other	10
Capital contributions received from parent	1,978	1,260
Payment of dividends and return of capital	(3,019)	(2,561)
Loan to Parent/Guarantor from Non-Guarantor	0	0
Net cash provided by (used in) financing activities	1,563	74
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	(10)	17
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	(135)	(110)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	577	566
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	442	456
Non-Guarantor Subsidiaries | Reportable Legal Entities | Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	8,242	4,397
Repayments of debt	(5,603)	(3,008)
Non-Guarantor Subsidiaries | Reportable Legal Entities | Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	0	0
Repayments of debt	0	0
The Hertz Corporation
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	945	965
Cash flows from investing activities:
Revenue earning vehicles expenditures	(7,610)	(6,709)
Proceeds from disposal of revenue earning vehicles	3,654	3,835
Capital asset expenditures, non-vehicle	(80)	(84)
Proceeds from disposal of property and other equipment	8	11
Purchases of marketable securities	(61)	0
Sales of marketable securities	36	9
Other	(2)	(2)
Capital contributions to subsidiaries	0	0
Return of capital from subsidiaries	0	0
Loan to Parent/Guarantor from Non-Guarantor	0	0
Net cash provided by (used in) investing activities	(4,055)	(2,940)
Cash flows from financing activities:
Payment of financing costs	(27)	(34)
Advances to Hertz Global/Old Hertz Holdings	(6)	(3)
Early redemption premium payment	(19)	(5)
Other	11	0
Capital contributions received from parent	0	0
Payment of dividends and return of capital	0	0
Loan to Parent/Guarantor from Non-Guarantor	0	0
Net cash provided by (used in) financing activities	2,537	3,067
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	(10)	17
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	(583)	1,109
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	1,504	1,094
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	921	2,203
The Hertz Corporation | Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	9,414	5,028
Repayments of debt	(6,829)	(3,665)
The Hertz Corporation | Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	187	2,100
Repayments of debt	$ (194)	$ (354)