Hertz Global (HTZ) 10-K 26 Feb 21 2020 FY Annual report Financial data

Cover page

Cover page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Feb. 22, 2021	Jun. 30, 2020
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2020
Document Transition Report	false
Entity Registrant Name	HERTZ GLOBAL HOLDINGS, INC
Entity Incorporation, State or Country Code	DE
Entity File Number	001-37665
Entity Tax Identification Number	61-1770902
Entity Address, Address Description	8501 Williams Road
Entity Address, City or Town	Estero,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33928
City Area Code	239
Local Phone Number	301-7000
Title of 12(b) Security	Common Stock
Trading Symbol	HTZGQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 220
Entity Common Stock, Shares Outstanding		156,206,478
Entity Central Index Key	0001657853
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false
The Hertz Corporation
Entity Information [Line Items]
Document Period End Date	Dec. 31, 2020
Entity Registrant Name	HERTZ CORP
Entity Incorporation, State or Country Code	DE
Entity File Number	001-07541
Entity Tax Identification Number	13-1938568
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100
Entity Central Index Key	0000047129
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	FY
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Dec. 31, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents		$ 1,096	$ 865
Restricted cash and cash equivalents:		411	495
Total cash, cash equivalents, restricted cash and restricted cash equivalents		1,507	1,360
Receivables:		777	1,840
Prepaid expenses and other assets		373	689
Revenue earning vehicles:
Vehicles		7,540	17,085
Less: accumulated depreciation		(1,478)	(3,296)
Total revenue earning vehicles, net		6,062	13,789
Property and equipment, net		666	757
Operating lease right-of-use assets		1,675	1,871
Intangible assets, net		2,992	3,238
Goodwill		1,045	1,083
Assets held for sale		1,811	0
Total assets	[1]	16,908	24,627
LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)
Accounts payable:		418	943
Accrued liabilities		759	1,032
Accrued taxes, net		121	150
Debt:		6,267	17,089
Operating lease liabilities		1,636	1,848
Self-insured liabilities		488	553
Deferred income taxes, net		730	1,124
Total liabilities not subject to compromise		10,419	22,739
Liabilities subject to compromise		4,965	0
Liabilities held for sale		1,431	0
Total liabilities	[1]	16,815	22,739
Commitments and contingencies
Stockholder's equity:
Preferred Stock		0	0
Common Stock			1
Additional paid-in capital			3,024
Accumulated deficit			(967)
Accumulated other comprehensive income (loss)			(189)
Treasury stock		100	100
Stockholder's equity (deficit) attributable to Hertz			1,769
Noncontrolling interests		37	119
Total stockholder's equity (deficit)		93	1,888
Total liabilities and stockholder's equity (deficit)		16,908	24,627
Vehicle
ASSETS
Restricted cash and cash equivalents:		50	466
Receivables:		164	791
LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)
Accounts payable:		29	289
Debt:		6,024	13,368
Non-vehicle
ASSETS
Restricted cash and cash equivalents:		361	29
Receivables:		613	1,049
LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)
Accounts payable:		389	654
Debt:		243	3,721
The Hertz Corporation
ASSETS
Cash and cash equivalents		1,096	865
Restricted cash and cash equivalents:		383	495
Total cash, cash equivalents, restricted cash and restricted cash equivalents		1,479	1,360
Receivables:		777	1,840
Due from Hertz Holdings		1	0
Prepaid expenses and other assets		372	689
Revenue earning vehicles:
Vehicles		7,540	17,085
Less: accumulated depreciation		(1,478)	(3,296)
Total revenue earning vehicles, net		6,062	13,789
Property and equipment, net		666	757
Intangible assets, net		2,992	3,238
Goodwill		1,045	1,083
Assets held for sale		1,811	0
Total assets	[2]	16,880	24,627
LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)
Accounts payable:		418	943
Accrued liabilities		759	1,032
Accrued taxes, net		121	150
Debt:		6,267	17,089
Self-insured liabilities		488	553
Deferred income taxes, net		735	1,128
Total liabilities not subject to compromise		10,424	22,743
Liabilities subject to compromise		5,030	0
Liabilities held for sale		1,431	0
Total liabilities	[2]	16,885	22,743
Commitments and contingencies
Stockholder's equity:
Common Stock		0	0
Additional paid-in capital		3,953	3,955
Due from affiliate		0	(64)
Accumulated deficit		(3,783)	(1,937)
Accumulated other comprehensive income (loss)		(212)	(189)
Stockholder's equity (deficit) attributable to Hertz		(42)	1,765
Noncontrolling interests		37	119
Total stockholder's equity (deficit)		(5)	1,884
Total liabilities and stockholder's equity (deficit)		16,880	24,627
The Hertz Corporation | Vehicle
ASSETS
Restricted cash and cash equivalents:		50	466
Receivables:		164	791
LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)
Accounts payable:		29	289
Debt:		6,024	13,368
The Hertz Corporation | Non-vehicle
ASSETS
Restricted cash and cash equivalents:		333	29
Receivables:		613	1,049
LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)
Accounts payable:		389	654
Debt:		$ 243	$ 3,721
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of December 31, 2020 and December 31, 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of December 31, 2020 and December 31, 2019 include total liabilities of VIEs of $475 million and $1.1 billion, 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 "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information.
[2]	The Hertz Corporation's consolidated total assets as of December 31, 2020 and December 31, 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of December 31, 2020 and December 31, 2019 include total liabilities of VIEs of $475 million and $1.1 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions		Dec. 31, 2020	Dec. 31, 2019
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		158,235,410	144,153,444
Common stock, shares outstanding		156,206,478	142,124,512
Treasury stock, shares		2,028,932	2,028,932
Assets	[1]	$ 16,908	$ 24,627
Liabilities	[1]	16,815	22,739
Non-vehicle
Receivables, allowance for doubtful accounts (in dollars)		$ 46	$ 35
The Hertz Corporation
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares authorized		3,000	3,000
Common stock, shares issued		100	100
Common stock, shares outstanding		100	100
Assets	[2]	$ 16,880	$ 24,627
Liabilities	[2]	16,885	22,743
The Hertz Corporation | Non-vehicle
Receivables, allowance for doubtful accounts (in dollars)		46	35
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Assets		511	1,300
Liabilities		$ 475	$ 1,100
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of December 31, 2020 and December 31, 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of December 31, 2020 and December 31, 2019 include total liabilities of VIEs of $475 million and $1.1 billion, 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 "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information.
[2]	The Hertz Corporation's consolidated total assets as of December 31, 2020 and December 31, 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of December 31, 2020 and December 31, 2019 include total liabilities of VIEs of $475 million and $1.1 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information.

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Worldwide vehicle rental	$ 4,628	$ 9,107	$ 8,756
All other operations	630	672	748
Total revenues	5,258	9,779	9,504
Expenses:
Direct vehicle and operating	3,627	5,486	5,355
Depreciation of revenue earning vehicles and lease charges	2,032	2,565	2,690
Selling, general and administrative	664	969	1,017
Interest expense, net:
Total interest expense, net	608	805	739
Intangible and other asset impairments	213	0	0
Other (income) expense, net	(9)	(59)	(40)
Reorganization items, net	175	0	0
Total expenses	7,310	9,766	9,761
Income (loss) before income taxes	(2,052)	13	(257)
Income tax (provision) benefit	329	(63)	30
Net income (loss)	(1,723)	(50)	(227)
Net (income) loss attributable to noncontrolling interests	9	(8)	2
Net income (loss) attributable to Hertz Global	$ (1,714)	$ (58)	$ (225)
Weighted-average shares outstanding:
Basic (in shares)	150	117	96
Diluted (in shares)	150	117	96
Earnings (loss) per share:
Basic earnings (loss) per share (in dollars per share)	$ (11.44)	$ (0.49)	$ (2.35)
Diluted earnings (loss) per share (in dollars per share)	$ (11.44)	$ (0.49)	$ (2.35)
The Hertz Corporation
Revenues:
Worldwide vehicle rental	$ 4,628	$ 9,107	$ 8,756
All other operations	630	672	748
Total revenues	5,258	9,779	9,504
Expenses:
Direct vehicle and operating	3,627	5,486	5,355
Depreciation of revenue earning vehicles and lease charges	2,032	2,565	2,690
Selling, general and administrative	664	969	1,017
Interest expense, net:
Total interest expense, net	606	798	732
Intangible and other asset impairments	213	0	0
Write-off of intercompany loan	133	0	0
Other (income) expense, net	(9)	(59)	(40)
Reorganization items, net	175	0	0
Total expenses	7,441	9,759	9,754
Income (loss) before income taxes	(2,183)	20	(250)
Income tax (provision) benefit	328	(65)	28
Net income (loss)	(1,855)	(45)	(222)
Net (income) loss attributable to noncontrolling interests	9		2
Net income (loss) attributable to Hertz Global	(1,846)	(53)	(220)
Vehicle
Interest expense, net:
Total interest expense, net	(455)	(494)	(448)
Vehicle | The Hertz Corporation
Interest expense, net:
Total interest expense, net	(455)	(494)	(448)
Non-vehicle
Interest expense, net:
Total interest expense, net	(153)	(311)	(291)
Non-vehicle | The Hertz Corporation
Interest expense, net:
Total interest expense, net	$ (151)	$ (304)	$ (284)

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Non-vehicle | The Hertz Corporation
Contractual Interest	$ 129

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income (loss)	$ (1,723)	$ (50)	$ (227)
Other comprehensive income (loss):
Foreign currency translation adjustments	(19)	6	(34)
Reclassification of foreign currency items to other (income) expense, net	0	0	(1)
Net gain (loss) on pension and postretirement benefit plans	(11)	(11)	(44)
Reclassification from other comprehensive income (loss) to other (income) expense for amortization of actuarial net losses	13	11	5
Total other comprehensive income (loss) before income taxes	(17)	6	(74)
Income tax (provision) benefit related to pension and postretirement benefit plans	(4)	(1)	12
Income tax (provision) benefit related to reclassified amounts of net periodic costs on pension and postretirement benefit plans	(2)	(2)	(1)
Total other comprehensive income (loss)	(23)	3	(63)
Total comprehensive income (loss)	(1,746)	(47)	(290)
Comprehensive (income) loss attributable to noncontrolling interests	9	(8)	2
Comprehensive income (loss) attributable to Hertz Global	(1,737)	(55)	(288)
The Hertz Corporation
Net income (loss)	(1,855)	(45)	(222)
Other comprehensive income (loss):
Foreign currency translation adjustments	(19)	6	(34)
Reclassification of foreign currency items to other (income) expense, net	0	0	(1)
Net gain (loss) on pension and postretirement benefit plans	(11)	(11)	(44)
Reclassification from other comprehensive income (loss) to other (income) expense for amortization of actuarial net losses	13	11	5
Total other comprehensive income (loss) before income taxes	(17)	6	(74)
Income tax (provision) benefit related to pension and postretirement benefit plans	(4)	(1)	12
Income tax (provision) benefit related to reclassified amounts of net periodic costs on pension and postretirement benefit plans	(2)	(2)	(1)
Total other comprehensive income (loss)	(23)	3	(63)
Total comprehensive income (loss)	(1,878)	(42)	(285)
Comprehensive (income) loss attributable to noncontrolling interests	9	(8)	2
Comprehensive income (loss) attributable to Hertz Global	$ (1,869)	$ (50)	$ (283)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions		Total	Change in accounting principle	Cumulative Effect, Period of Adoption, Adjusted Balance	The Hertz Corporation	The Hertz CorporationChange in accounting principle	The Hertz CorporationCumulative Effect, Period of Adoption, Adjusted Balance	Stockholders' Equity Attributable to Hertz Global	Stockholders' Equity Attributable to Hertz GlobalChange in accounting principle	Stockholders' Equity Attributable to Hertz GlobalCumulative Effect, Period of Adoption, Adjusted Balance	Stockholders' Equity Attributable to Hertz GlobalThe Hertz Corporation	Stockholders' Equity Attributable to Hertz GlobalThe Hertz CorporationChange in accounting principle	Stockholders' Equity Attributable to Hertz GlobalThe Hertz CorporationCumulative Effect, Period of Adoption, Adjusted Balance	Preferred Stock Shares	Common Stock Shares	Common Stock SharesCumulative Effect, Period of Adoption, Adjusted Balance	Common Stock SharesThe Hertz Corporation	Common Stock SharesThe Hertz CorporationCumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-In Capital	Additional Paid-In CapitalCumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-In CapitalThe Hertz Corporation	Additional Paid-In CapitalThe Hertz CorporationCumulative Effect, Period of Adoption, Adjusted Balance	Due From AffiliateThe Hertz Corporation	Due From AffiliateThe Hertz CorporationCumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Deficit	Accumulated DeficitChange in accounting principle	Accumulated DeficitCumulative Effect, Period of Adoption, Adjusted Balance	Accumulated DeficitThe Hertz Corporation	Accumulated DeficitThe Hertz CorporationChange in accounting principle	Accumulated DeficitThe Hertz CorporationCumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)The Hertz Corporation	Accumulated Other Comprehensive Income (Loss)The Hertz CorporationCumulative Effect, Period of Adoption, Adjusted Balance	Treasury Stock	Treasury StockCumulative Effect, Period of Adoption, Adjusted Balance	Non- controlling Interests	Non- controlling InterestsThe Hertz Corporation	Non- controlling InterestsThe Hertz CorporationCumulative Effect, Period of Adoption, Adjusted Balance
Beginning Balance (in shares) at Dec. 31, 2017														0	84,000,000	84,000,000	100	100																	2,000,000	2,000,000
Beginning Balance at Dec. 31, 2017		$ 1,520	$ (189)	$ 1,331	$ 1,520	$ (189)	$ 1,331	$ 1,520	$ (189)	$ 1,331	$ 1,520	$ (189)	$ 1,331		$ 1	$ 1	$ 0	$ 0	$ 2,243	$ 2,243	$ 3,166	$ 3,166	$ (42)	$ (42)	$ (506)	$ (189)	$ (695)	$ (1,486)	$ (189)	$ (1,675)	$ (118)	$ (118)	$ (118)	$ (118)	$ (100)	$ (100)	$ 0	$ 0	$ 0
Increase (Decrease) in Stockholders' Equity
Net income (loss)		(227)			(222)			(225)			(220)														(225)			(220)									(2)	(2)
Due from Hertz Holdings					(10)						(10)												(10)
Other comprehensive income (loss)		(63)			(63)			(63)			(63)																				(63)		(63)
Net settlement on vesting of restricted stock		(3)						(3)											(3)
Stock-based compensation charges		21			21			21			21								21		21
Other					61																																	61
Reclassification of income tax effects resulting from the Tax Cuts and Jobs Act		0			0																				11			11			(11)		(11)
Contributions from noncontrolling interests		61																																			61
Ending Balance (in shares) at Dec. 31, 2018														0	84,000,000		100																		2,000,000
Ending Balance at Dec. 31, 2018		1,120			1,118			1,061			1,059				$ 1		$ 0		2,261		3,187		(52)		(909)			(1,884)			(192)		(192)		$ (100)		59	59
Increase (Decrease) in Stockholders' Equity
Net income (loss)		(50)			(45)			(58)			(53)														(58)			(53)									8	8
Due from Hertz Holdings					(12)						(12)												(12)
Other comprehensive income (loss)		3			3			3			3																				3		3
Net settlement on vesting of restricted stock		(3)						(3)											(3)
Stock-based compensation charges		18			18			18			18								18		18
Contributions from noncontrolling interests		52			52																																52	52
Contributions from Hertz Holdings					750						750										750
Rights Offering/Stock issuance, net (in shares)															58,000,000
Rights Offering/Stock issuance, net		748						748											748
Ending Balance (in shares) at Dec. 31, 2019														0	142,000,000		100																		2,000,000
Ending Balance at Dec. 31, 2019		1,888			1,884			1,769			1,765				$ 1		$ 0		3,024		3,955		(64)		(967)			(1,937)			(189)		(189)		$ (100)		119	119
Increase (Decrease) in Stockholders' Equity
Net income (loss)		(1,723)			(1,855)			(1,714)			(1,846)														(1,714)			(1,846)									(9)	(9)
Due from Hertz Holdings					(4)						(4)												(4)
Liabilities subject to compromise	[1]				(65)						(65)												(65)
Write-off of intercompany loan	[2]				133						133												133
Other comprehensive income (loss)		(23)			(23)			(23)			(23)																				(23)		(23)
Net settlement on vesting of restricted stock		(3)						(3)											(3)
Stock-based compensation charges		(2)			(2)			(2)			(2)								(2)		(2)
Rights Offering/Stock issuance, net (in shares)															14,000,000
Rights Offering/Stock issuance, net		29						29							$ 1				28
Distributions to noncontrolling interests, net		(73)			(73)																																(73)	(73)
Ending Balance (in shares) at Dec. 31, 2020														0	156,000,000		100																		2,000,000
Ending Balance at Dec. 31, 2020		$ 93			$ (5)			$ 56			$ (42)				$ 2		$ 0		$ 3,047		$ 3,953		$ 0		$ (2,681)			$ (3,783)			$ (212)		$ (212)		$ (100)		$ 37	$ 37
[1]	As a result of the Chapter 11 Cases, a Pre-petition loan due to an affiliate was classified as liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. See Note 19, "Liabilities Subject to Compromise."
[2]	As a result of the filing of the Chapter 11 Cases, the full amount outstanding under a loan due from affiliate was deemed uncollectible and written off. See Note, 14, "Related Party Transactions."

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from operating activities:
Net income (loss)		$ (1,723)	$ (50)	$ (227)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles		2,259	2,791	2,546
Depreciation and amortization, non-vehicle		225	203	218
Amortization of deferred financing costs and debt discount (premium)		59	52	50
Loss on extinguishment of debt		5	43	22
Stock-based compensation charges		(2)	18	14
Provision for receivables allowance		94	53	35
Deferred income taxes, net		(353)	27	(66)
Intangible and other asset impairments		213	0	0
(Gain) loss on marketable securities		0	(30)	(20)
(Gain) loss on sale of non-vehicle capital assets		(24)	(39)	(1)
Other		13	(9)	7
Changes in assets and liabilities:
Non-vehicle receivables		195	(88)	(136)
Prepaid expenses and other assets		92	(8)	(23)
Operating lease right-of-use assets		366	402	0
Non-vehicle accounts payable		98	65	70
Accrued liabilities		(61)	(98)	72
Accrued taxes, net		(52)	14	(8)
Operating lease liabilities		(375)	(428)	0
Self-insured liabilities		(76)	(18)	3
Net cash provided by (used in) operating activities		953	2,900	2,556
Cash flows from investing activities:
Revenue earning vehicles expenditures		(5,542)	(13,714)	(12,493)
Proceeds from disposal of revenue earning vehicles		10,098	9,486	8,452
Non-vehicle capital asset expenditures		(98)	(224)	(177)
Proceeds from non-vehicle capital assets disposed of or to be disposed of		60	27	51
Purchases of marketable securities		0	0	(60)
Sales of marketable securities		74	0	36
Other		(1)	0	(6)
Net cash provided by (used in) investing activities		4,591	(4,425)	(4,197)
Cash flows from financing activities:
Payment of financing costs		(75)	(53)	(47)
Early redemption premium payment		0	(34)	(19)
Contributions from (distributions to) noncontrolling interests		(75)	49	60
Proceeds from issuance of stock, net		28	0	0
Proceeds from Rights Offering, net		0	748	0
Net cash provided by (used in) financing activities		(5,372)	1,474	1,561
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents		46	1	(14)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period		218	(50)	(94)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period		1,360	1,410	1,504
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period		1,507	1,360	1,410
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	[1]	1,578	1,360	1,410
Cash paid during the period for:
Income taxes, net of refunds		(11)	21	26
Operating lease liabilities		546	575	0
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives		9	165	169
Sales of revenue earning vehicles included in vehicle receivables		144	667	510
Sales-type capital lease of revenue earning vehicles included in other receivables		0	0	75
Fleet payables included in liabilities subject to compromise		2	0	0
Purchases of non-vehicle capital assets included in accounts payable		7	40	42
Revenue earning vehicles and non-vehicle capital assets acquired through capital leases		32	23	21
Purchases of non-vehicle capital assets included in liabilities subject to compromise		18	0	0
Operating lease right-of-use assets obtained in exchange for lease liabilities		152	680	0
The Hertz Corporation
Cash flows from operating activities:
Net income (loss)		(1,855)	(45)	(222)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles		2,259	2,791	2,546
Depreciation and amortization, non-vehicle		225	203	218
Amortization of deferred financing costs and debt discount (premium)		59	52	50
Loss on extinguishment of debt		5	43	22
Stock-based compensation charges		(2)	18	14
Provision for receivables allowance		94	53	35
Deferred income taxes, net		(353)	28	(64)
Intangible and other asset impairments		213	0	0
Write-off of intercompany loan		133	0	0
(Gain) loss on marketable securities		0	(30)	(20)
(Gain) loss on sale of non-vehicle capital assets		(24)	(39)	(1)
Other		13	(8)	7
Changes in assets and liabilities:
Non-vehicle receivables		195	(88)	(136)
Prepaid expenses and other assets		94	(8)	(23)
Operating lease right-of-use assets		366	402	0
Non-vehicle accounts payable		98	65	70
Accrued liabilities		(61)	(98)	72
Accrued taxes, net		(52)	14	(8)
Operating lease liabilities		(375)	(428)	0
Self-insured liabilities		(76)	(18)	3
Net cash provided by (used in) operating activities		956	2,907	2,563
Cash flows from investing activities:
Revenue earning vehicles expenditures		(5,542)	(13,714)	(12,493)
Proceeds from disposal of revenue earning vehicles		10,098	9,486	8,452
Non-vehicle capital asset expenditures		(98)	(224)	(177)
Proceeds from non-vehicle capital assets disposed of or to be disposed of		60	27	51
Purchases of marketable securities		0	0	(60)
Sales of marketable securities		74	0	36
Other		(1)	0	(6)
Net cash provided by (used in) investing activities		4,591	(4,425)	(4,197)
Cash flows from financing activities:
Payment of financing costs		(75)	(53)	(47)
Early redemption premium payment		0	(34)	(19)
Advances to Hertz Holdings		(5)	(12)	(9)
Contributions from (distributions to) noncontrolling interests		(75)	49	60
Proceeds from issuance of stock, net		0	750	0
Net cash provided by (used in) financing activities		(5,403)	1,467	1,554
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents		46	1	(14)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period		190	(50)	(94)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period		1,360	1,410	1,504
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period		1,479	1,360	1,410
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	[1]	1,550	1,360	1,410
Cash paid during the period for:
Income taxes, net of refunds		(11)	21	26
Operating lease liabilities		546	575	0
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives		9	165	169
Sales of revenue earning vehicles included in vehicle receivables		144	667	510
Sales-type capital lease of revenue earning vehicles included in other receivables		0	0	75
Fleet payables included in liabilities subject to compromise		2	0	0
Purchases of non-vehicle capital assets included in accounts payable		7	40	42
Revenue earning vehicles and non-vehicle capital assets acquired through capital leases		32	23	21
Purchases of non-vehicle capital assets included in liabilities subject to compromise		18	0	0
Operating lease right-of-use assets obtained in exchange for lease liabilities		152	680	0
Vehicle
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Loss on extinguishment of debt		5	0	22
Cash flows from financing activities:
Proceeds from issuance of vehicle debt		4,546	13,013	14,009
Repayments of vehicle debt		(10,751)	(11,530)	(12,426)
Cash paid during the period for:
Interest, net of amounts capitalized:		335	431	379
Vehicle | The Hertz Corporation
Cash flows from financing activities:
Proceeds from issuance of vehicle debt		4,546	13,013	14,009
Repayments of vehicle debt		(10,751)	(11,530)	(12,426)
Cash paid during the period for:
Interest, net of amounts capitalized:		335	431	379
Non-vehicle
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Loss on extinguishment of debt		0	43	0
Cash flows from financing activities:
Proceeds from issuance of vehicle debt		1,812	3,016	557
Repayments of vehicle debt		(855)	(3,732)	(571)
Cash paid during the period for:
Interest, net of amounts capitalized:		109	272	286
Non-vehicle | The Hertz Corporation
Cash flows from financing activities:
Proceeds from issuance of vehicle debt		1,812	3,016	557
Repayments of vehicle debt		(855)	(3,732)	(571)
Cash paid during the period for:
Interest, net of amounts capitalized:		$ 109	$ 272	$ 286
[1]	Amounts include cash and cash equivalents and restricted cash and cash equivalents which are held for sale as disclosed in Note 3, "Divestitures."

Background

Background	12 Months Ended
	Dec. 31, 2020
Background Disclosure [Abstract]
Background	Background Hertz Global Holdings, Inc. 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 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 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. As disclosed in Note 3, "Divestitures," in the fourth quarter of 2020, the Company entered into a stock and asset purchase agreement to sell the Donlen Assets. Unless otherwise noted, information disclosed in these notes to the consolidated financial statements exclude the Donlen Assets. In March 2020, the World Health Organization declared COVID-19 a global pandemic. In response to COVID-19, local and national governments around the world instituted shelter-in-place and similar orders and travel restrictions, and airline and other travel decreased suddenly and dramatically. Despite a strong start to the year, as a result of the impact on travel demand, late in the first quarter, the Company began experiencing a high level of rental cancellations and a significant decline in forward bookings. In response, the Company began adjusting its fleet levels to reflect the reduced level of demand by leveraging its multiple used-vehicle channels and negotiating with suppliers to reduce fleet commitments. Additionally, the Company began aggressively managing costs, including implementing employee furlough programs affecting approximately 20,000 employees worldwide to align staffing levels with the slowdown in demand. The Company (i) initiated a restructuring program affecting approximately 11,000 employees in its U.S. RAC segment and U.S. corporate operations, the majority of which were previously furloughed; (ii) actively negotiated to abate or defer its airport rent and concession payments; (iii) substantially reduced capital expenditures; (iv) eliminated discretionary marketing spend; and (v) reduced commitments to purchase vehicles by approximately $4.0 billion from original commitments in its U.S. RAC segment. See Note 11, "Restructuring" for further information regarding the restructuring program disclosed above. Although the Company had taken aggressive action to eliminate costs, it faced significant ongoing expenses, including monthly payments under its Operating Lease with HVF, pursuant to which Hertz leases from HVF vehicles used in the Company's U.S. rental car operations. HVF II issues asset-backed notes and lends the proceeds thereof to HVF to finance the acquisition of vehicles, which are then leased to Hertz pursuant to the Operating Lease. Monthly payments under the Operating Lease are variable and significant and are subject to volatility depending upon the changes in current market value estimates of the underlying leased vehicles. During April 2020, the Company engaged in discussions with various creditors to obtain relief from its obligations to make full rent payments under its Operating Lease. While such discussions were ongoing, to preserve liquidity, on April 27, 2020, Hertz did not make certain payments, including the full rent payments, in accordance with the Operating Lease. As a result of the failure to make the full rent payments on April 27, 2020, an amortization event was in effect as of May 5, 2020 for all series of notes issued by HVF II and a liquidation event was in effect with respect to the variable funding notes (“Series 2013-A Notes”) issued by HVF II. As a result of the amortization event, and notwithstanding the forbearance agreement described below, proceeds from the sales of vehicles that collateralize the notes issued by HVF II were to be primarily applied to the payment of principal and interest under those notes and were not available to finance new vehicle acquisitions for Hertz. A liquidation event means that, unless the affected noteholders otherwise agree, the affected noteholders can direct the liquidation of vehicles serving as collateral for their notes. On May 4, 2020, prior to the occurrence of the liquidation event with respect to the Series 2013-A Notes, Hertz, HVF, HVF II and DTG Operations, Inc. entered into a forbearance agreement (the “Forbearance Agreement”) with holders (the “VFN Noteholders”) of the Series 2013-A Notes representing approximately 77% in aggregate principal amount of the Series 2013-A Notes. Pursuant to the Forbearance Agreement that became effective against all VFN Noteholders, the VFN Noteholders agreed to forbear from exercising their liquidation remedies. The Forbearance Agreement with the VFN Noteholders expired on May 22, 2020. Concurrently with entering into the Forbearance Agreement, on May 4, 2020, Hertz entered into limited waiver agreements (collectively, the “Waiver Agreements”) with certain of the lenders (the “Lenders”) under its (i) Senior RCF/senior term loan facility, (ii) letter of credit facility, (iii) alternative letter of credit facility and (iv) U.S. Vehicle RCF (collectively, the “Facilities”). Pursuant to the Waiver Agreements, the Lenders agreed to (a) waive any default or event of default that could have resulted from the above referenced missed payment under the Operating Lease, (b) waive any default or event of default that had arisen as a result of Hertz’s failure to deliver its 2020 operating budget on a timely basis in accordance with the Facilities and (c) extend the grace period to cure a default with respect to Hertz’s obligation to reimburse drawings that occurred under certain letters of credit during the waiver period. The Waiver Agreements which were effective across the Facilities expired on May 22, 2020. In accordance with the Forbearance Agreement and the Waiver Agreements, the Company made a payment of approximately $30 million reflecting certain variable payment elements of monthly rent under the Operating Lease, including an interest component on May 5, 2020. Voluntary Petitions for Bankruptcy In connection with the expiration of the Forbearance Agreement and the Waiver Agreements described above and the continuing economic impact from COVID-19, on the Petition Date, the Debtors filed Petitions under Chapter 11 of the Bankruptcy Code in the Bankruptcy Court. The Chapter 11 Cases are being jointly administered by the Bankruptcy Court under the caption In re The Hertz Corporation, et al., Case No. 20-11218 (MFW) . In May 2020, the Bankruptcy Court approved motions filed by the Debtors that were designed primarily to mitigate the impact of the Chapter 11 Cases on the Company’s operations, customers and employees. The Debtors are authorized to conduct their business activities in the ordinary course, and pursuant to orders entered by the Bankruptcy Court, the Debtors are authorized to, among other things and subject to the terms and conditions of such orders (i) pay employees’ wages and related obligations; (ii) pay certain taxes; (iii) pay critical vendors and certain fees to airport authorities and provide adequate protection; (iv) continue to maintain certain customer programs; (v) maintain insurance programs; (vi) use certain cash collateral on an interim basis; (vii) honor certain obligations to franchisees; and (viii) maintain existing cash management systems. Per the terms of the Interim Lease Order entered on July 24, 2020, the Debtors were directed to, among other things, (i) make $650 million of base rent payments under the Operating Lease to the HVF trustee in the amount of six equal monthly payments of approximately $108 million commencing in July 2020 through December 2020; (ii) dispose of at least 182,521 lease vehicles between June 1, 2020 and December 31, 2020, inclusive, where the proceeds of the dispositions, subject to certain exclusions set forth in the Interim Lease Order, were used to make payments under the Operating Lease; (iii) fund interest payments on the Operating Lease from draws on certain existing letters of credit, which are reimbursable by the Debtors; and (iv) suspended litigation relating to the Operating Lease until January 15, 2021 with all parties reserving all rights with respect to future litigation claims. For the period from June 1, 2020 through December 31, 2020, the Company disposed of approximately 198,000 lease vehicles pursuant to or otherwise in satisfaction of its vehicle disposition obligations under the Interim Lease Order. In 2020, the Bankruptcy Court entered the Lease Rejection Orders which applied, in the aggregate, to 359 off airport and 66 airport locations in the Company's U.S. RAC segment. See Note 10, "Leases" for further information. On January 20, 2021, the Bankruptcy Court authorized the Second Lease Order, which extended the forbearance period related to the Operating Lease to September 30, 2021, provided that the Debtors dispose of 121,510 lease vehicles, at least 113,381 of which will be non-program vehicles, and reach a minimum cumulative vehicle disposition proceeds of $2.0 billion by September 30, 2021. Additionally, the Second Lease Order directed the Debtors to (i) have no more than 157,262 lease vehicles by September 30, 2021 and (ii) make $756 million of base rent payments under the Operating Lease to the HVF trustee in the amount of nine equal monthly payments of $84 million commencing in January 2021 through September 2021. Debtors-In-Possession The Debtors are currently operating as debtors-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. In general, as debtors-in-possession under the Bankruptcy Code, the Debtors are authorized to continue to operate as an ongoing business but may not engage in transactions outside the ordinary course of business without the prior approval of the Bankruptcy Court. Automatic Stay Subject to certain specific exceptions under the Bankruptcy Code, the Debtors' bankruptcy petitions automatically stayed most judicial or administrative actions against the Debtors and efforts by creditors to collect on or otherwise exercise rights or remedies with respect to obligations of the Debtors incurred prior to the Petition Date. Substantially all of the Debtors’ Pre-petition liabilities are subject to resolution as provided in the Bankruptcy Code. Potential Claims The Debtors have filed with the Bankruptcy Court schedules and statements setting forth, among other things, the assets and liabilities of each of the Debtors, subject to the assumptions filed in connection therewith. These schedules and statements may be subject to further amendment or modification after filing. As part of the Chapter 11 Cases, parties believing that they have claims or causes of action against the Debtors may file proofs of claim evidencing such claims. Certain holders of Pre-petition claims that are not governmental units were required to file proofs of claim by the deadline for general claims, which was on October 21, 2020, the Bar Date. As of December 31, 2020, the Debtors have received approximately 14,600 proofs of claim in the aggregate asserted amount of approximately $104.5 billion. Such amount includes duplicate claims across multiple debtor legal entities. These claims are in the process of being reconciled to amounts recorded in the Company's accounting records. Differences in amounts recorded and claims filed by creditors will be investigated and resolved, including through the filing of objections with the Bankruptcy Court, where appropriate. The Company may ask the Bankruptcy Court to disallow claims that the Company believes are duplicative, have been later amended or superseded, are without merit, are overstated or should be disallowed for other reasons. Additional amounts may be included in liabilities subject to compromise in future periods if the Company elects to reject executory contracts, tax claims, unexpired leases and/or other claims asserted as part of the Chapter 11 Cases. Due to the uncertain nature of many of the potential claims, the magnitude of potential claims not reasonably estimable at this time and potential claims not considered to be probable as of the balance sheet date, these claims are not currently included in liabilities subject to compromise in the accompanying consolidated balance sheet. As of the date of the issuance of this 2020 Annual Report, the Company’s assessment of the validity of claims received has not been completed. In light of the substantial number of claims filed, and expected to be filed, the claims resolution process may take considerable time to complete and likely will continue after the Debtors emerge from bankruptcy. Borrowing Capacity and Availability The filing of the Chapter 11 Cases constituted defaults, termination events and/or amortization events with respect to certain of the Company's existing debt obligations. As a result of the filing of the Chapter 11 Cases, the remaining capacity under almost all of the Company's revolving credit facilities was terminated, as disclosed in Note 6, "Debt." Consequently, the proceeds of sales of vehicles which serve as collateral for such vehicle finance facilities must be applied to the payment of the related indebtedness of the Non-Debtor Financing Subsidiaries (as defined in Note 6, "Debt") and are not otherwise available to fund the Company’s operations. Additionally, the Company is precluded from accessing any of its subordinated investment in the vehicle collateral until the related defaults are waived or the third party funding under those facilities has been retired, either through the monetization of the underlying collateral or the refinancing of the related indebtedness. Proceeds from vehicle receivables, excluding manufacturer rebates, as of December 31, 2020 and ongoing vehicle sales must be applied to vehicle debt in amortization. The Company currently has waivers related to the filing of the Chapter 11 Cases under its European ABS and U.K. Fleet Financing facility that were extended to March 5, 2021, as disclosed in Note 6, "Debt." On October 12, 2020, the Bankruptcy Court entered an order authorizing Hertz and Donlen to enter into certain agreements in connection with a new asset-based securitization facility with a newly formed non-Debtor special purpose entity, DFLF. On October 16, 2020, DFLF issued the Series 2020-1 Notes in an aggregate principal amount up to $400 million pursuant to this new facility, as disclosed in Note 6, "Debt." On October 29, 2020, the Bankruptcy Court entered an order authorizing the Debtors to obtain certain debtor-in-possession financing. In accordance with the Bankruptcy Court’s order, on October 30, 2020, Hertz, as borrower, and Hertz Global and certain of its subsidiaries located in the U.S. and Canada, in each case that are debtors in these Chapter 11 Cases, as guarantors, entered into the DIP Credit Agreement. The DIP Credit Agreement provides for DIP Loans in an aggregate amount of up to $1.65 billion, of which (i) up to $1.0 billion can be used as equity for new interim fleet financing, giving the Debtors the ability to replenish their vehicle fleet in the future, and (ii) up to $800 million can be used for working capital and general corporate purposes. The DIP Loans are available in multiple draws of at least (i) $250 million each, or (ii) the remaining available commitments if such commitments are less than $250 million. The DIP Loans bear interest at a rate of LIBOR plus 7.25% (subject to a 1.00% floor), which is reduced to LIBOR plus 6.75% upon a significant repayment of Pre-petition first lien debt. See Note 6, "Debt" for further details. On February 16, 2021, Hertz borrowed an additional $250 million as per the minimum draw requirement of the DIP Credit Agreement. On November 24, 2020, the Bankruptcy Court entered an order authorizing the formation of HVIF and for the Debtors to obtain interim fleet financing. In accordance with the Bankruptcy Court's order, on November 25, 2020, HVIF issued the Series 2020-1 Notes in an aggregate principal amount up to $4.0 billion, as disclosed in Note 6, "Debt." On January 13, 2021, the Bankruptcy Court entered an order authorizing the Debtors to enter into a Canadian fleet financing facility up to CAD$400 million. On January 28, 2021, TCL Funding Limited Partnership, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Hertz, entered into the Funding LP Series 2021-A which provides for aggregate maximum borrowings of CAD$350 million on a revolving basis. Subject to initial availability, the initial draw of CAD$120 million was used to pay the outstanding obligations under the Funding LP Series 2015-A Notes, including any unpaid default interest. The Company's inability to retain any proceeds from the sale of vehicles under its U.S. ABS programs means that its sources of liquidity are primarily its unrestricted cash and unrestricted cash equivalents on hand, cash generated from its operations and up to $800 million from its DIP Credit Agreement. As of December 31, 2020, the Company had $1.1 billion of unrestricted cash and unrestricted cash equivalents and approximately $1.1 billion of availability under the DIP Credit Agreement, net of the $275 million minimum liquidity requirement, for a total liquidity of $2.2 billion which the Company believes will be sufficient to fund its operations through approximately December 31, 2021, assuming it does not experience any unforeseen liquidity needs before then, which could result in the utilization of the liquidity in advance of December 31, 2021. Going Concern The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern and contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. The Company’s ability to continue as a going concern is contingent upon its ability to successfully implement a plan of reorganization, among other factors, and the realization of assets and the satisfaction of liabilities are subject to uncertainty. Further, any plan of reorganization could materially change the amounts of assets and liabilities reported in the accompanying consolidated financial statements. The accompanying consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern or as a consequence of the Chapter 11 Cases. As a result of the Company's financial condition, defaults under certain debt agreements as disclosed in Note 6, "Debt," and the risks and uncertainties surrounding the Chapter 11 Cases, substantial doubt exists that the Company will be able to continue as a going concern for one year from the issuance date of this 2020 Annual Report. NYSE Delisting and Transfer to the OTC Market On May 26, 2020, the Company received a letter from the staff of NYSE Regulation, Inc. that it had determined to commence proceedings to delist the common stock of Hertz Global from the NYSE in light of the Company’s disclosure on May 22, 2020 that it had commenced voluntary petitions for reorganization under Chapter 11. The Company appealed the determination in a timely manner and requested a hearing before the NYSE. On October 15, 2020, the NYSE heard the Company’s appeal. On October 29, 2020, the NYSE informed Hertz Global that its common stock was no longer suitable for listing on the NYSE and that the NYSE suspended trading of Hertz Global common stock (NYSE ticker symbol: HTZ) after the market close on October 29, 2020. Hertz Global common stock began trading exclusively on the OTC market on October 30, 2020 under the symbol "HTZGQ." On October 30, 2020, the NYSE applied to the SEC pursuant to Form 25 to remove the common stock of Hertz Global from listing and registration on the NYSE at the opening of business on November 10, 2020. Hertz Global common stock was delisted on November 10, 2020. Upon deregistration of Hertz Global common stock under Section 12(b) of the Exchange Act, Hertz Global common stock remains registered under Section 12(g) of the Exchange Act.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Accounting Principles The Company’s consolidated financial statements have been prepared in accordance with U.S. GAAP. Reclassifications Certain prior period amounts have been reclassified to conform with current period presentation. Principles of Consolidation The consolidated financial statements of Hertz Global include the accounts of Hertz Global, its wholly owned and majority owned U.S. and international subsidiaries, and its VIEs, as applicable. The consolidated financial statements of Hertz include the accounts of Hertz, its wholly owned and majority owned U.S. and international subsidiaries, and its VIEs, as applicable. The Company consolidates a VIE when it is deemed the primary beneficiary. 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. Accounting Standards Codification 852 - Reorganizations Effective on the Petition Date, the Company applied accounting standards applicable to reorganizations, Accounting Standards Codification 852 - Reorganizations, in preparing the accompanying consolidated financial statements as of and for the year ended December 31, 2020, which requires the financial statements, for periods subsequent to the commencement of the Chapter 11 Cases, to distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Accordingly, Pre-petition obligations of the Debtors that may be impacted by the Chapter 11 Cases have been classified as liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. These liabilities are reported at the amounts the Company anticipates will be allowed by the Bankruptcy Court, even if they may be settled for lesser amounts. See Note 19, "Liabilities Subject to Compromise," for additional information. In addition, certain charges related to the Chapter 11 Cases are recorded as reorganization items, net in the accompanying consolidated statements of operations for the year ended December 31, 2020. See Note 20, "Reorganization Items, Net," for additional information. Use of Estimates and Assumptions 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 consolidated financial statements and footnotes. Actual results could differ materially from those estimates. Significant estimates inherent in the preparation of the consolidated financial statements include depreciation of revenue earning vehicles, reserves for litigation and other contingencies, accounting for income taxes and related uncertain tax positions, pension and postretirement benefit costs, the recoverability of long-lived assets, useful lives and impairment of long-lived tangible and intangible assets including goodwill, valuation of stock-based compensation, self-insured liabilities, allowance for doubtful accounts, the retail value of loyalty points, and fair value of financial instruments, among others. Revenue Earning Vehicles Revenue earning vehicles are stated at cost, net of related discounts and incentives from manufacturers. Holding periods typically range from six to thirty-six months. Generally, when revenue earning vehicles are acquired outside of a vehicle repurchase program, the Company estimates the period that the Company will hold the asset, primarily based on historical measures of the amount of rental activity (e.g., automobile mileage). The Company also estimates the residual value of the applicable revenue earning vehicles at the expected time of disposal, taking into consideration factors such as make, model and options, age, physical condition, mileage, sale location, time of the year and channel of disposition (e.g., auction, retail, dealer direct) and market conditions. Depreciation is recorded over the estimated holding period. 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 expected time of disposal and the estimated holding periods. Gains and losses on the sale of vehicles, including the costs associated with disposals, are included in depreciation of revenue earning vehicles and lease charges in the accompanying consolidated statements of operations. For program vehicles, the manufacturers agree to repurchase program vehicles at a specified price or guarantee the depreciation rate on the vehicles during established repurchase or auction periods, subject to, among other things, certain vehicle condition, mileage and holding period requirements. Guaranteed depreciation programs guarantee on an aggregate basis the residual value of the program vehicle upon sale according to certain parameters which include the holding period, mileage and condition of the vehicles. The Company records a provision in accumulated depreciation for excess mileage and vehicle condition, as necessary, during the holding period. Donlen's revenue earning vehicles are leased under long term agreements with its customers. These leases contain provisions whereby Donlen has a contracted residual value guaranteed by the lessee, such that it does not bear the risk of any gains or losses on the disposal of these vehicles. Donlen accounts for its lease contracts using the appropriate lease classifications. The Company continually evaluates revenue earning vehicles to determine whether events or changes in circumstances have occurred that may warrant revision of the residual value or holding period. Self-insured Liabilities Self-insured liabilities in the accompanying consolidated balance sheets include public liability, property damage, general liability, liability insurance supplement, personal accident insurance, and worker's compensation. These represent an estimate for both reported accident claims not yet paid, and claims incurred but not yet reported and are recorded on an undiscounted 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 and administrative costs. The adequacy of the liability 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. Recoverability of Goodwill and Indefinite-lived Intangible Assets The Company tests the recoverability of its goodwill and indefinite-lived intangible assets by performing an impairment analysis on an annual basis, as of October 1, and at interim periods when circumstances require as a result of a triggering event. A goodwill impairment charge is calculated as the amount by which a reporting unit's carrying amount exceeds its fair value. For goodwill, fair value is determined using an income approach based on the discounted cash flows of each reporting unit. A reporting unit is an operating segment or a business one level below that operating segment (the component level) if discrete financial information is prepared and regularly reviewed by segment management. Components are aggregated into a single reporting unit when they have similar economic characteristics. The Company has four reporting units: U.S. Rental Car, Europe Rental Car, Other International Rental Car and Donlen. The fair values of the reporting units are estimated using the net present value of discounted cash flows generated by each reporting unit and incorporate various assumptions related to discount rates, growth rates, cash flow projections, tax rates and terminal value rates specific to the reporting unit to which they are applied. Discount rates are set by using the Weighted-Average Cost of Capital (“WACC”) methodology. The Company’s discounted cash flows are based upon reasonable and appropriate assumptions about the underlying business activities of the Company’s reporting units. In the impairment analysis for an indefinite-lived intangible asset, the Company compares the carrying value of the asset to its estimated fair value and recognizes an impairment charge whenever the carrying amount of the asset exceeds its estimated fair value. The estimated fair value for a tradename utilizes a relief-from-royalty income approach, which includes the Company’s revenue projections for each asset, along with assumptions for royalty rates, tax rates and WACC. Subrogation Receivables The Company records receivables for vehicle damage caused while a vehicle is on rent with a customer based on billed and unbilled recoveries and represents the amount of damage the Company expects to recover. Amounts recorded are estimated using a combination of actual historical data with respect to damage expense and collections and other facts and circumstances. Subrogation receivables are recorded as a contra-expense (i.e. a credit to direct vehicle and operating expense in the accompanying consolidated statements of operations) in the period in which the expense was incurred. The Company had net subrogation receivables of $67 million and $109 million which are included in non-vehicle receivables, net in the accompanying consolidated balance sheets as of December 31, 2020 and 2019, respectively. Income Taxes The Company recognized the effects of the TCJA enacted on December 22, 2017, which created the global intangible low-tax income ("GILTI") provision that imposes U.S. tax on certain earnings of foreign subsidiaries that are subject to foreign tax below a certain threshold. GILTI taxes are recorded in current income tax expense as incurred. In 2018 and 2019, the Company asserted indefinite reinvestment on certain of its foreign earnings. As of December 31, 2020, the Company no longer asserts permanent reinvestment of foreign earnings, due to the impact from COVID-19, as disclosed in Note 1, "Background." The Company does not anticipate that the change in its assertion will have a material impact on its cash flows during the next twelve months. Valuation Allowances The Company’s current and future provision for income taxes is impacted by the initial recognition of and changes in valuation allowances in certain jurisdictions. The Company intends to maintain these allowances until it is more likely than not that the deferred tax assets will be realized. The Company’s future provision for income taxes will include no tax benefit with respect to losses incurred in these jurisdictions. Accordingly, income taxes are impacted by changes in valuation allowances and the mix of earnings among jurisdictions. The Company evaluates the realizability of its deferred tax assets on a quarterly basis. In completing this evaluation, the Company considers all available evidence in order to determine whether, based on the weight of the evidence, a valuation allowance for its deferred tax assets is necessary. Such evidence includes the evaluation of historical cumulative earnings and losses in recent years, future reversals of deferred tax liabilities, the availability of carry forwards and the remaining period of the respective carry forward, future taxable income (exclusive of the reversal of temporary differences and carryforwards), and any applicable tax-planning strategies that are available. If, based on the weight of the evidence, it is more likely than not that all or a portion of the Company’s deferred tax assets will not be realized, a valuation allowance is recorded. If operating results improve or decline on a continual basis in a particular jurisdiction, the Company’s decision regarding the need for a valuation allowance could change resulting in either the initial recognition or reversal of a valuation allowance in that jurisdiction, which could have a significant impact on income tax expense in the period recognized and subsequent periods. In determining the provision for income taxes for financial statement purposes, the Company makes certain estimates and judgments, which affect its evaluation of the carrying value of its deferred tax assets, as well as its calculation of certain tax liabilities. Uncertain Tax Positions The calculation of the Company’s gross unrecognized tax benefits and liabilities includes uncertainties in the application of, and changes in, complex tax regulations in a multitude of jurisdictions across its global operations. The Company recognizes tax benefits and liabilities based on its estimates of whether, and the extent to which, additional taxes will be due. The Company adjusts these benefits and liabilities based on changing facts and circumstances; however, due to the complexity of these uncertainties and the impact of tax audits, the ultimate resolutions may differ significantly from the Company’s estimates. Revenue Recognition In February 2016, the FASB issued guidance that replaced the existing lease guidance in U.S. GAAP and in 2018 and 2019 issued amendments and updates to the new lease standard (collectively "Topic 842"). Upon adoption of Topic 842, on January 1, 2019, the Company accounts for revenue earned from vehicle rentals and rental related activities wherein an identified asset is transferred to the customer and the customer has the ability to control that asset under Topic 842. Prior to the adoption of Topic 842, the Company accounted for such revenue under Revenue from Contracts with Customers ("Topic 606"). As such, vehicle rental and rental related revenue is recognized under Topic 842 for the years ended December 31, 2020 and December 31, 2019, and under Topic 606 for the year ended December 31, 2018. The policy that follows herein is applicable under Topics 842 and 606 unless otherwise noted. The Company recognizes two types of revenue: (i) lease revenue; and (ii) revenue from contracts with customers. The Company reports revenues for taxes or non-concession fees collected from customers on behalf of governmental authorities on a net basis. 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. 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 charged 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. Upon adoption of Topic 606, each transaction that generates loyalty points results in the deferral of revenue equivalent to the retail value at the date the points are earned. 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 current retail value measured as of the date the loyalty points are earned, less an estimated amount representing loyalty points that are not expected to be redeemed (“breakage”). Breakage is reviewed on a quarterly basis and includes significant assumptions such as historical breakage trends and internal Company forecasts. 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 lease incentives under Topic 842 and variable consideration under Topic 606, 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 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. Under Topic 606 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. 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 in the accompanying consolidated statements of operations. Fleet Leasing and Fleet Management Revenue The Company's Donlen subsidiary generates revenue from various fleet leasing and fleet management services. Donlen’s operating leases for fleets have lease periods that are typically for twelve months, after which the lease converts to a month-to-month lease, allowing the vehicle to be surrendered any time thereafter. The Company's fleet leases contain a terminal rental adjustment clause ("TRAC") where, upon sale of the vehicle following the termination of the lease, a TRAC adjustment may result through which the lessee is credited or charged with the gain or loss on the vehicle's disposal. Such TRAC adjustments are considered variable charges. Fleet management services are comprised of fuel purchasing and management, preventive vehicle 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. Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents Cash and cash equivalents include cash on hand and highly liquid investments with an original maturity of three months or less. The Company's cash and cash equivalents are invested in various investment grade institutional money market funds, and bank money market and interest bearing accounts. Restricted cash and restricted cash equivalents includes cash and cash equivalents that are not readily available for use in the Company's operating activities. Restricted cash and restricted cash equivalents are primarily comprised of proceeds from the disposition of vehicles pledged under the terms of vehicle debt financing arrangements and is restricted for the purchase of revenue earning vehicles and other specified uses under the vehicle debt facilities, cash utilized as credit enhancement under those arrangements, and certain cash accounts supporting regulatory reserve requirements related to the Company's self-insurance. As a result of the filing of the Chapter 11 Cases, the Company has multiple segregated bank accounts, some of which can only be accessed upon approval by the Bankruptcy Court, and cash collateral accounts for certain purposes. These funds are primarily held in demand deposit and money market accounts or in highly rated money market funds with investments primarily in government and corporate obligations. Deposits held at financial institutions may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company limits exposure relating to financial instruments by diversifying the financial instruments among various counterparties, which consist of major financial institutions. Receivables, Net of Allowance Receivables are stated net of allowances and primarily represent credit extended to vehicle manufacturers, customers that satisfy defined credit criteria, and amounts due from customers resulting from damage to rental vehicles. The estimate of the allowance for doubtful accounts is based on the Company's future expected losses and its judgement as to the likelihood of ultimate payment. Actual receivables are written-off against the allowance for doubtful accounts when the Company determines the balance will not be collected. Estimates for future credit memos are based on historical experience and are reflected as reductions to revenue, while bad debt expense is reflected as a component of direct vehicle and operating expense in the accompanying consolidated statements of operations. Property and Equipment, Net The Company's property and equipment, net consists of the following: (In millions) December 31, 2020 December 31, 2019 Land, buildings and leasehold improvements $ 1,277 $ 1,271 Service vehicles, equipment and furniture and fixtures 761 798 Less: accumulated depreciation (1,372) (1,312) Total property and equipment, net $ 666 $ 757 Land is stated at cost and reviewed annually for impairment as further disclosed above in "Long-lived Assets, Including Finite-lived Intangible Assets." Property and equipment are stated at cost and are depreciated utilizing the straight-line method over the estimated useful lives of the related assets. Useful lives are as follows: Buildings 1 to 50 years Furniture and fixtures 1 to 5 years Service vehicles and equipment 1 to 25 years Leasehold improvements The lesser of the economic life or the lease term Depreciation expense for property and equipment, net for the years ended December 31, 2020, 2019 and 2018 was $129 million, $122 million and $129 million, respectively. The Company follows the practice of charging maintenance and repair costs for service vehicles, furniture and fixtures, and equipment, including the cost of minor replacements, to maintenance expense. Long-lived Assets, Including Finite-lived Intangible Assets Finite-lived intangible assets include concession agreements, technology, customer relationships and other intangibles. Long-lived assets and intangible assets with finite lives, including technology-related intangibles, are amortized using the straight-line method over the estimated economic lives of the assets, which range from one two Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost is to be recognized over the period during which the employee is required to provide service in exchange for the award. Forfeitures are accounted for when they occur. The Company has estimated the fair value of options issued at the date of grant using a Black-Scholes option-pricing model, which includes assumptions related to volatility, expected term, dividend yield and risk-free interest rate. The Company accounts for restricted stock unit and performance stock unit awards as equity classified awards. For restricted stock units ("RSUs") the expense is based on the grant-date fair value of the stock and the number of shares that vest, recognized over the service period. For performance stock units ("PSUs") and performance stock awards ("PSAs"), the expense is based on the grant-date fair value of the stock, recognized over a two service period depending upon the applicable performance condition. For PSUs and PSAs, the Company re-assesses the probability of achieving the applicable performance condition quarterly and adjusts the recognition of expense accordingly. The Company includes the excess tax benefit within income tax expense in the accompanying consolidated statements of operations when realized. Fair Value Measurements Generally accepted accounting principles define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market or, if none exists, the most advantageous market, for the specific asset or liability at the measurement date (referred to as the "exit price"). Fair value is a market-based measurement that is determined based upon assumptions that market participants would use in pricing an asset or liability, including consideration of nonperformance risk. The Company assesses the inputs used to measure fair value using the three-tier hierarchy promulgated under U.S. GAAP. This hierarchy indicates the extent to which inputs used in measuring fair value are observable in the market. Level 1: Inputs that reflect quoted prices for identical assets or liabilities in active markets that are observable. Level 2: Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3: Inputs that are unobservable to the extent that observable inputs are not available for the asset or liability at the measurement date and include management's judgment about assumptions market participants would use in pricing the asset or liability. Financial Instruments The Company is exposed to a variety of market risks, including the effects of changes in interest rates, gasoline and diesel fuel prices and foreign currency exchange rates. The Company manages exposure to these market risks through regular operating and financing activities and, when deemed appropriate, through the use of financial instruments. Financial instruments are viewed as risk management tools and have not been used for speculative or trading purposes. In addition, financial instruments are entered into with a diversified group of major financial institutions in order to manage the Company's exposure to counterparty nonperformance on such instruments. The Company measures all financial instruments at their fair value and does not offset the derivative assets and liabilities in its accompanying consolidated balance sheets. As the Company does not have financial instruments that are designated and qualify as hedging instruments, the changes in their fair value are recognized currently in the Company's operating results. Foreign Currency Translation and Transactions Assets and liabilities of international subsidiaries whose functional currency is the local currency are translated at the rate of exchange in effect on the balance sheet date; income and expenses are translated at the average exchange rates throughout the year. The related translation adjustments are reflected in accumulated other comprehensive income (loss) in the accompanying consolidated balance sheets. Foreign currency exchange rate gains and losses resulting from transactions are included in selling, general and administrative expense in the accompanying consolidated statements of operations. Advertising Advertising and sales promotion costs are expensed the first time the advertising or sales promotion takes place. Advertising costs are reflected as a component of selling, general and administrative expenses in the accompanying consolidated statements of operations and for the years ended December 31, 2020, 2019 and 2018 were $112 million, $318 million and $238 million, respectively. Divestitures The Company classifies long-lived assets and liabilities to be disposed of as held for sale in the period in which they are available for immediate sale in their present condition and the sale is probable and expected to be completed within one year. The Company initially measures assets and liabilities held for sale at the lower of their carrying value or fair value less costs to sell and assesses their fair value quarterly until disposed. When the divestiture represents a strategic shift that has (or will have) a major effect on the Company's operations and financial results, the disposal is presented as a discontinued operation. Recently Issued Accounting Pronouncements Adopted Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued guidance that sets forth a current expected credit loss impairment model for financial assets, which replaces the current incurred loss model, and issued amendments and updates to the new standard in 2018 and 2019. This model requires a financial asset (or group of financial assets), including trade receivables, measured at amortized cost to be presented at the net amount expected to be collected with an allowance for credit losses deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The Company adopted this guidance when effective, on January 1, 2020, using a modified retrospective transition method. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows. Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement In August 2018, the FASB issued guidance on a customer's accounting for implementation fees paid in a cloud computing service contract arrangement that addresses which implementation costs to capitalize as an asset and which costs to expense. Capitalized implementation fees are to be expensed over the term of the cloud computing arrangement, and the expense is required to be recognized in the same line item in the income statement as the associated hosting service expenses. The entity is also required to present the capitalized implementation fees on the balance sheet in the same line item as the prepayment for hosting service fees associated with the cloud computing arrangement. The Company adopted this guidance when effective, on January 1, 2020, using a prospective transition method. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows. The Company has hosting arrangements in connection with its Enterprise Resource Planning systems. Prior to the adoption of this guidance, the Company capitalized certain implementation costs for its hosting arrangements in intangible assets, net, in the accompanying consolidated balance sheet as of December 31, 2019. Subsequent to the adoption of this guidance on January 1, 2020, the Company

Divestitures

Divestitures	12 Months Ended
	Dec. 31, 2020
Business Combinations [Abstract]
Divestitures	Divestitures Donlen Asset Sale In November 2020, the Company entered into a stock and asset purchase agreement (the "Purchase Agreement") with Freedom Acquirer LLC (the "Buyer"), an affiliate of Athene Holding Ltd., to sell substantially all of the assets of its wholly-owned subsidiary Donlen. At the closing, the Buyer will pay approximately $825 million in cash, subject to adjustments based on the level of assumed indebtedness, working capital and fleet equity. Within three business days of the execution of the Purchase Agreement, the Buyer made a good faith deposit of $82.5 million into a deposit escrow that will either (i) be credited to the purchase price payable at the closing and released to the Company, (ii) be released to the Company upon termination of the Purchase Agreement in certain circumstances in which the Buyer has breached the Purchase Agreement or (iii) be released to the Buyer if the Purchase Agreement is terminated for other reasons. A hearing is scheduled on March 1, 2021 with the Bankruptcy Court for final approval of the sale. The assets and liabilities of Donlen, included in the Company's All Other Operations segment, to be included in the sale have been classified as held for sale in the accompanying consolidated balance sheet as of December 31, 2020. Assets and liabilities classified as held for sale are required to be recorded at the lower of the carrying value or fair value less any costs to sell. The major classes of assets and liabilities held for sale as of December 31, 2020 are presented below at their carrying value. (in millions) December 31, 2020 ASSETS Cash and cash equivalents $ 3 Restricted cash and cash equivalents 68 Receivables, net 207 Prepaid expenses and other assets 28 Revenue earning vehicles, net 1,432 Property and equipment, net 6 Operating lease right-of-use assets 2 Intangible assets, net 29 Goodwill 36 Total assets held for sale $ 1,811 LIABILITIES Accounts payable $ 76 Accrued liabilities 19 Accrued taxes, net 3 Vehicle debt 1,327 Operating lease liabilities 6 Total liabilities held for sale $ 1,431 Sale of Non-vehicle Capital Assets In 2019, the Company completed the sale of certain non-vehicle capital assets in its U.S. Rental Car segment (the "Non-Vehicle Asset Sale") and recognized a $39 million pre-tax gain on the sale which is included in other (income) expense, net in the accompanying consolidated statement of operations for the year ended December 31, 2019. In 2020, the Company received additional cash from the Non-Vehicle Asset Sale and recognized an additional $20 million pre-tax gain on the sale, which is included in other (income) expense, net in the accompanying consolidated statement of operations for the year ended December 31, 2020. Sale of Marketable Securities In 2020, the Company sold marketable securities for $74 million and recognized an immaterial gain on the sale in its corporate operations, which is included in other (income) expense, net in the accompanying consolidated statement of operations for the year ended December 31, 2020.

Revenue Earning Vehicles

Revenue Earning Vehicles	12 Months Ended
	Dec. 31, 2020
Revenue Earning Vehicles [Abstract]
Revenue Earning Vehicles	Revenue Earning Vehicles The components of revenue earning vehicles, net are as follows: December 31, (In millions) 2020 2019 Revenue earning vehicles $ 7,492 $ 16,626 Less accumulated depreciation (1,467) (3,159) 6,025 13,467 Revenue earning vehicles held for sale, net (1) 37 322 Revenue earning vehicles, net $ 6,062 $ 13,789 (1) Represents the carrying amount of vehicles currently placed on the Company's retail lots for sale or actively in the process of being sold through other disposition channels.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net Technology-related Intangible and Other Assets Due to uncertainty surrounding the Company's financial ability to complete certain information technology projects as a result of COVID-19 and the filing of the Chapter 11 Cases, as disclosed in Note 1, "Background," the Company concluded in the second quarter of 2020 that there was an impairment of such technology-related intangible assets and capitalized cloud computing implementation costs. In the second quarter of 2020, the Company recorded an impairment charge of $193 million in its corporate operations, representing an impairment of the carrying value of the abandoned portion of such assets as of June 30, 2020 of $124 million and $69 million of technology-related intangible assets and other assets, respectively. Recoverability of Goodwill and Indefinite-lived Intangible Assets The Company tests the recoverability of its goodwill and indefinite-lived intangible assets by performing an impairment analysis on an annual basis, as of October 1, and at interim periods when circumstances require as a result of a triggering event, as defined by ASC 350. The Company considered factors such as, but not limited to, its expectations of projected revenues, expenses and cash flows, reflecting the expected duration and extent of impact to its business, customers, economy and the travel industry from COVID-19, and the impact of the Chapter 11 Cases. The Company performed the goodwill impairment analyses using the income approach, a measurement using level 3 inputs under the U.S. GAAP fair value hierarchy. In performing the impairment analyses, the weighted-average cost of capital used in the discounted cash flow model was calculated based upon the fair value of the Company's debt and stock price with a debt to equity ratio comparable to the vehicle rental car industry. This present value model requires management to estimate future cash flows and forecasted earnings before interest, taxes, depreciation and amortization ("EBITDA") margins and capital investments of each reporting unit. The assumptions the Company used to estimate future cash flows and EBITDA margins are consistent with the assumptions that the reporting units use for internal planning purposes, which the Company believes would be generally consistent with that of a market participant. The discount rate used for each reporting unit ranged from 12.5% to 14.0%. All reporting units that have goodwill were noted to have a fair value that exceeded their carrying values. Each of the Company's reporting units had fair values that exceeded their respective carrying values by more than 20%. The Company performed the intangible impairment analyses for indefinite-lived intangible assets using the relief-from-royalty income approach, a measurement using level 3 inputs under the U.S. GAAP fair value hierarchy. The Company considered consistent factors as described above related to goodwill in addition to royalty rates. The assumptions the Company uses to estimate royalty rates are consistent with the assumptions that the reporting units use for internal planning purposes, which the Company believes would be generally consistent with that of a market participant. The discount rate used for each indefinite-lived intangible ranged from 13% to 14.0%. All indefinite-lived intangibles were noted to have a fair value that exceeded their carrying values, except for the Hertz tradename in the Company's International RAC segment where the Company recorded an impairment charge of $20 million. Each of the Company's other indefinite-lived intangible assets had fair values that exceeded their respective carrying values by more than 10%, except in the Company’s U.S. RAC segment which was in excess by 7% of the carrying value of $934 million. Further deterioration in the general economic conditions in the travel industry, the Company’s cash flows and the Company's ability to obtain future financing to maintain its fleet or the weighted average cost of capital assumptions may result in an impairment charge to earnings in future quarters. The Company will continue to closely monitor actual results versus its expectations as well as any significant changes in market events or conditions, including the impact of COVID-19 on the Company's business and the travel industry, and the resulting impact to its assumptions about future estimated cash flows and the weighted average cost of capital. If the Company's expectations of the operating results, both in magnitude or timing, do not materialize, or if its weighted average cost of capital increases, the Company may be required to record goodwill and indefinite-lived intangible asset impairment charges, which could be material. Goodwill The following summarizes the changes in the Company's goodwill, by segment: (In millions) U.S. Rental Car International Rental Car All Other Operations Total Balance as of January 1, 2020 Goodwill $ 1,029 $ 236 $ 36 $ 1,301 Accumulated impairment losses — (218) — (218) 1,029 18 36 1,083 Goodwill acquired and other changes during the period (1) — (2) (36) (38) — (2) (36) (38) Balance as of December 31, 2020 Goodwill 1,029 236 — 1,265 Accumulated impairment losses — (220) — (220) $ 1,029 $ 16 $ — $ 1,045 (1) Goodwill associated with the Company's All Other Operations segment, was classified as held for sale as of December 31, 2020, as disclosed in Note 3, "Divestitures." (In millions) U.S. Rental Car International Rental Car All Other Operations Total Balance as of January 1, 2019 Goodwill $ 1,029 $ 236 $ 36 $ 1,301 Accumulated impairment losses — (218) — (218) 1,029 18 36 1,083 Goodwill acquired and other changes during the period — — — — — — — — Balance as of December 31, 2019 Goodwill 1,029 236 36 1,301 Accumulated impairment losses — (218) — (218) $ 1,029 $ 18 $ 36 $ 1,083 Intangible Assets, Net Intangible assets, net, consisted of the following major classes: December 31, 2020 (In millions) Gross Accumulated Net Amortizable intangible assets: Customer-related $ 268 $ (268) $ — Concession rights 414 (371) 43 Technology-related intangibles (1) 359 (232) 127 Other (2) 60 (56) 4 Total 1,101 (927) 174 Indefinite-lived intangible assets: Tradenames 2,794 — 2,794 Other (3) 24 — 24 Total 2,818 — 2,818 Total intangible assets, net $ 3,919 $ (927) $ 2,992 December 31, 2019 (In millions) Gross Accumulated Net Amortizable intangible assets: Customer-related $ 333 $ (313) $ 20 Concession rights 414 (324) 90 Technology-related intangibles (1) 515 (236) 279 Other (2) 74 (64) 10 Total 1,336 (937) 399 Indefinite-lived intangible assets: Tradenames 2,814 — 2,814 Other (3) 25 — 25 Total 2,839 — 2,839 Total intangible assets, net $ 4,175 $ (937) $ 3,238 (1) Technology-related intangibles include software not yet placed into service. (2) Other amortizable intangible assets primarily include reacquired franchise rights. (3) Other indefinite-lived intangible assets primarily consist of reacquired franchise rights. Years Ended December 31, (In millions) 2020 2019 2018 Amortization of intangible assets $ 96 $ 81 $ 89 The following table summarizes the Company's expected amortization expense based on its amortizable intangible assets as of December 31, 2020: (In millions) 2021 $ 85 2022 33 2023 24 2024 17 2025 7 After 2025 8 Total expected amortization expense $ 174

Debt

Debt	12 Months Ended
	Dec. 31, 2020
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 as of December 31, 2020 Fixed or Maturity December 31, December 31, Non-Vehicle Debt Senior Term Loan (1) Floating 6/2023 $ — $ 660 Senior RCF (1) Floating 6/2021 — — Senior Notes (1)(2) Fixed 10/2022-1/2028 — 2,700 Senior Second Priority Secured Notes (1) Fixed 6/2022 — 350 Senior Secured Superpriority Debtor-in-Possession Credit Agreement 8.53% Floating 12/2021 250 — Promissory Notes (1) Fixed 1/2028 — 27 Other Non-Vehicle Debt 7.26% Fixed Various 18 18 Unamortized Debt Issuance Costs and Net (Discount) Premium (25) (34) Total Non-Vehicle Debt Not Subject to Compromise 243 3,721 Non-Vehicle Debt Subject to Compromise Senior Term Loan 3.50% Floating 6/2023 656 — Senior RCF 3.41% Floating 6/2021 615 — Senior Notes (2) 6.11% Fixed 10/2022-1/2028 2,700 — Senior Second Priority Secured Notes 7.63% Fixed 6/2022 350 — Promissory Notes 7.00% Fixed 1/2028 27 — Alternative Letter of Credit Facility (6) 5.25% Floating 11/2023 114 — Senior RCF Letter of Credit Facility 5.50% Floating 6/2021 17 — Unamortized Debt Issuance Costs and Net (Discount) Premium (36) — Total Non-Vehicle Debt Subject to Compromise 4,443 — Vehicle Debt HVF II U.S. ABS Program HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A (3)(6) 3.39% Floating 3/2022 1,940 2,644 1,940 2,644 Facility Weighted-Average Interest Rate as of December 31, 2020 Fixed or Maturity December 31, December 31, HVF II U.S. Vehicle Medium Term Notes HVF II Series 2015-1 (3) N/A N/A N/A — 780 HVF II Series 2015-3 (3) 3.64% Fixed 9/2020 163 371 HVF II Series 2016-2 (3) 3.98% Fixed 3/2021 263 595 HVF II Series 2016-4 (3) 3.65% Fixed 7/2021 187 424 HVF II Series 2017-1 (3) 3.91% Fixed 10/2020 199 450 HVF II Series 2017-2 (3) 4.31 % Fixed 10/2022 164 350 HVF II Series 2018-1 (3) 3.86 % Fixed 2/2023 468 1,000 HVF II Series 2018-2 (3) 4.31 % Fixed 6/2021 94 200 HVF II Series 2018-3 (3) 4.62 % Fixed 7/2023 95 200 HVF II Series 2019-1 (3) 4.37 % Fixed 3/2022 330 700 HVF II Series 2019-2 (3) 3.98 % Fixed 5/2024 354 750 HVF II Series 2019-3 (3) 3.22 % Fixed 12/2024 352 800 2,669 6,620 Donlen U.S. ABS Program HFLF U.S. ABS Program HFLF Variable Funding Notes HFLF Series 2013-2 (4)(6) 6.12% Floating 1/2021-6/2022 — 286 — 286 HFLF Medium Term Notes HFLF Series 2016-1 (4) N/A N/A N/A — 34 HFLF Series 2017-1 (4) 2.94 % Both 1/2021-8/2022 — 229 HFLF Series 2018-1 (4) 2.74 % Both 1/2021-8/2022 — 462 HFLF Series 2019-1 (4) 2.31 % Both 1/2021-8/2022 — 650 — 1,375 Vehicle Debt - Other U.S. Vehicle RCF N/A N/A N/A — 146 European Vehicle Notes (5) 5.07% Fixed 10/2021-3/2023 888 810 European ABS (3) 1.60% Floating 11/2021 263 766 Hertz Canadian Securitization (3)(6) 3.67% Floating 3/2021 53 241 Donlen Canadian Securitization (3) 1.54% Floating 12/2022 — 24 Australian Securitization (3) 1.67% Floating 6/2021 97 177 New Zealand RCF 2.91% Floating 6/2021 35 50 U.K. Financing Facility 3.01% Floating 1/2021-11/2023 105 247 Other Vehicle Debt 3.52% Floating 1/2021-11/2024 37 29 1,478 2,490 Unamortized Debt Issuance Costs and Net (Discount) Premium (63) (47) Total Vehicle Debt Not Subject to Compromise 6,024 13,368 Total Debt Not Subject to Compromise $ 6,267 $ 17,089 N/A - Not applicable (1) As a result of filing the Chapter 11 Cases, certain debt was classified as liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. The weighted-average interest rate for such debt is disclosed in subsequent rows under "non-vehicle debt subject to compromise." (2) References to the "Senior Notes" include the series of Hertz's unsecured senior notes set forth in the table below which are included in liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. Outstanding principal amounts for each such series of the Senior Notes is also specified below: (In millions) Outstanding Principal Senior Notes December 31, 2020 December 31, 2019 6.250% Senior Notes due October 2022 $ 500 $ 500 5.500% Senior Notes due October 2024 800 800 7.125% Senior Notes due August 2026 500 500 6.000% Senior Notes due January 2028 900 900 $ 2,700 $ 2,700 (3) 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 originally expected 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. While HVF II remains in an amortization event, as described below, the expected maturity will deviate from its stated, contractual maturity date during amortization as payoff is based on the sale of the underlying vehicles and the pro-rata application of those proceeds across all outstanding HVF II Series of Notes in accordance with their seniority. During the amortization event, the ultimate maturity of the notes will depend upon the length of time the underlying vehicle collateral is sold or the timing of the refinancing of the notes. (4) In the case of the HFLF Medium Term Notes, such notes are repayable from cash flows derived from third-party leases comprising the underlying HFLF collateral pool. As a result of the Chapter 11 Cases and the resulting amortization events, as described below, the revolving period for all series was terminated and are amortizing monthly by an amount equal to the lease collections payable to that series and the maturity date referenced for each series of HFLF Medium Term Notes represents the date by which Hertz expects such series of notes to be repaid in full, which is based upon 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. (5) 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 ("Hertz Netherlands"), unsecured senior notes (converted from Euros to U.S. dollars at a rate of 1.22 to 1 and 1.12 to 1 as of December 31, 2020 and 2019, respectively) set forth in the table below. Outstanding principal amounts for each such series of the European Vehicle Notes is also specified below: (In millions) Outstanding Principal European Vehicle Notes December 31, 2020 December 31, 2019 4.125% Senior Notes due October 2021 $ 276 $ 251 5.500% Senior Notes due March 2023 612 559 $ 888 $ 810 (6) Includes default interest which is comprised of an increase in the contractual spread. Chapter 11 As a result of filing the Chapter 11 Cases, as disclosed in Note 1, "Background," and as noted in the table above, the Company reclassified certain of its non-vehicle debt instruments, net of deferred financing costs, discounts and premiums, as applicable, to liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. The Company has suspended accruing and paying interest and amortizing deferred financing costs, discounts and premiums, as applicable, on the Senior Notes, Promissory Notes and Alternative Letter of Credit Facility, as of the Petition Date. The Company is continuing to pay in cash an amount equal to the monthly interest at the non-default rate for the Senior Term Loan and Senior RCF (collectively, "the First Lien Facilities"), and has suspended amortizing the associated deferred financing costs, discounts and premiums for the First Lien Facilities, as applicable, as of the Petition Date. On November 3, 2020, as directed by the Bankruptcy Court in an order dated October 29, 2020, the Company paid in cash an amount equal to the monthly interest that would have accrued on the First Lien Facilities during the period May 1, 2020 through June 30, 2020 upon entry of the DIP Order as defined below. On December 1, 2020, as directed by the Bankruptcy Court in an order dated August 25, 2020, the Company paid in cash an amount equal to half of the interest that would have accrued on the Senior Second Priority Secured Notes during the period July 1, 2020 through November 30, 2020 with the remaining half paid in kind as of December 31, 2020. On February 4, 2021, as directed by the Bankruptcy Court, the Company will continue to pay half of the interest on the Senior Second Priority Secured Notes with the remaining half paid in kind. The filing of the Chapter 11 Cases constituted an event of default that accelerated the Debtors’ obligations under the Senior Term Loan, the Senior RCF, the U.S. Vehicle RCF, the Letter of Credit Facility and the Alternative Letter of Credit Facility. Additionally, the filing triggered defaults, termination events and/or amortization events under certain obligations of (i) Hertz International Limited, Hertz Netherlands and the direct and indirect subsidiary companies located outside of the U.S. and Canada (collectively the "International Subsidiaries") (some of which were waived or amended, subject to certain time limitations, as disclosed further below), and (ii) HVF, HVF II, HFLF and certain other vehicle financing subsidiaries (collectively the "Non-Debtor Financing Subsidiaries"). Non-Vehicle Debt Senior Secured Superpriority Debtor-in-Possession Credit Agreement On October 15, 2020, Hertz entered into a commitment letter for debtor-in-possession financing with the holders of a majority in aggregate outstanding amount of its Pre-petition first-lien debt (collectively, the “Initial Commitment Parties”) pursuant to which the Initial Commitment Parties committed to backstop the DIP Credit Agreement in an aggregate amount of $1.65 billion, subject to the terms and conditions set forth in the initial commitment letter. The initial commitment letter was amended on October 28, 2020 to add certain additional commitment parties. On October 29, 2020, the Bankruptcy Court entered an order authorizing the Debtors to obtain certain debtor-in-possession financing (the "DIP Order"). In accordance with the Bankruptcy Court’s order, on October 30, 2020, Hertz, as borrower, and Hertz Global and certain of its subsidiaries located in the U.S. and Canada, in each case that are debtors in these Chapter 11 Cases, as guarantors (collectively, the "DIP Debtors"), entered into the DIP Credit Agreement with the financial institutions identified therein as lenders and Barclays Bank PLC as administrative agent. The DIP Credit Agreement provides for DIP Loans, of which (i) up to $1.0 billion can be used as equity for new interim fleet financing, giving the DIP Debtors the ability to replenish their vehicle fleet in the future, and (ii) up to $800 million can be used for working capital and general corporate purposes. The DIP Loans are available in multiple draws of at least (i) $250 million each, or (ii) the remaining available commitments if such commitments are less than $250 million. The DIP Loans bear interest at a rate of LIBOR plus 7.25% (subject to a 1.00% floor), which is reduced to LIBOR plus 6.75% upon a significant repayment of Pre-petition first lien debt. The DIP Credit Agreement matures on December 31, 2021 and has limited covenants and events of default, including one milestone requiring the filing of a plan of reorganization by August 1, 2021. The DIP Credit Agreement will be secured by first priority liens on substantially all of the DIP Debtors’ assets (subject to certain exclusions) and has the support of the requisite majority of the DIP Debtors’ first lien Pre-petition debt to allow for consensual priming of existing liens. The DIP Credit Agreement does not contain a roll-up or cross-collateralization of Pre-petition debt or otherwise dictate how Pre-petition claims will be addressed in a plan of reorganization. The DIP Credit Agreement includes customary negative covenants for debtor-in-possession loan agreements of this type, including covenants limiting the loan parties and their subsidiaries’ ability to, among other things, incur additional indebtedness, create liens on assets, make investments, loans or advances, engage in mergers, consolidations, sales of assets and acquisitions, pay dividends and distributions and make payments in respect of junior or Pre-petition indebtedness, in each case subject to customary exceptions for debtor-in-possession loan agreements of this type. The DIP Credit Agreement also includes conditions precedent, representations and warranties, mandatory prepayments, affirmative covenants and events of default customary for financings of this type. Certain bankruptcy-related events are also events of default, including, but not limited to, the dismissal by the Bankruptcy Court of any of the Chapter 11 Cases, the conversion of any of the Chapter 11 Cases to a case under chapter 7 of the Bankruptcy Code, the appointment of a trustee pursuant to Chapter 11, and certain other events related to the impairment of the lenders’ rights or liens granted under the DIP Credit Agreement. In November 2020, the Company drew $250 million from the DIP Credit Agreement and Hertz utilized $50 million of the draw to make a capital contribution to HVIF in order to pay fees associated with the issuance of the HVIF Series 2020-1 Notes, as defined below. On February 16, 2021, Hertz borrowed an additional $250 million as per the minimum draw requirements of the DIP Credit Agreement. Senior Notes In August 2019, Hertz issued $500 million in aggregate principal amount of 7.125% Senior Notes due August 2026 (the "2026 Notes"). Hertz utilized proceeds from the issuance of the 2026 Notes, together with net proceeds from the Rights Offering, as described in Note 17, "Equity and Earnings (Loss) Per Share - Hertz Global," to redeem all $700 million of the outstanding 5.875% Senior Notes due 2020 and all $500 million of the outstanding 7.375% Senior Notes due 2021. In November 2019, Hertz issued $900 million in aggregate principal amount of 6.000% Senior Notes due January 2028 (the "2028 Notes"). Hertz utilized proceeds from the issuance of the 2028 Notes, together with available cash, to redeem $900 million in aggregate principal amount of its outstanding 7.625% Senior Second Priority Secured Notes due 2022 (the "Senior Second Priority Secured Notes"). Vehicle Debt The governing documents of certain of the vehicle debt financing arrangements specified below contain covenants that, among other things, significantly limit or restrict (or upon certain circumstances may significantly restrict or prohibit) the ability of the borrowers/issuers, and the guarantors if applicable, to make certain restricted payments (including paying dividends, redeeming stock, making other distributions, loans or advances) to Hertz Holdings and Hertz, whether directly or indirectly. To the extent applicable, aggregate maximum borrowings are subject to borrowing base availability. There is subordination within certain series of vehicle debt based on class. Proceeds from the issuance of vehicle debt is typically used to acquire or refinance vehicles or to repay portions of outstanding principal amounts of vehicle debt with an earlier maturity. HVF II U.S. ABS Program HVF II, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Hertz, is the issuer of variable funding notes and medium term notes under the HVF II U.S. ABS Program. HVF II has entered into a base indenture that permits it to issue term and revolving rental vehicle asset-backed securities, secured by one or more shared or segregated collateral pools consisting primarily of portions of the rental vehicles used in the Company's U.S. vehicle rental operations and contractual rights related to such vehicles that have been allocated as the ultimate indirect collateral for HVF II's financings. Within each series of HVF II U.S. Vehicle Medium Term Notes there is subordination based on class. The assets of HVF II and HVF II GP Corp. are owned by HVF II and HVF II GP Corp., respectively, and are not available to satisfy the claims of Hertz’s general creditors. As a result of the failure to make the full rent payments on April 27, 2020, an amortization event was in effect as of May 5, 2020 for all series of notes issued by HVF II and a liquidation event was in effect with respect to the Series 2013-A Notes issued by HVF II. As a result of the amortization event, proceeds from the sales of vehicles that collateralize the notes issued by HVF II must be primarily applied to the payment of principal and are allocated on what approximates a pro rata basis to the reduction of principal on the basis of seniority by class. As disclosed in Note 1, "Background," per the terms of the Interim Lease Order entered on July 24, 2020, the Debtors, as directed, made $650 million of base rent payments under the Operating Lease to the HVF trustee in the amount of six equal monthly payments of approximately $108 million commencing in July 2020 through December 2020. On January 20, 2021, the Bankruptcy Court entered the Second Lease Order, which directed the Debtors, among other things, to make $756 million of base rent payments under the Operating Lease to the HVF trustee in the amount of nine equal monthly payments of $84 million commencing in January 2021 through September 2021. The parties have agreed to defer litigation related to the Operating Lease until September 30, 2021. HVF II is accruing default interest on the HVF II Variable Funding Notes and accruing non-default interest on the U.S. Vehicle Medium Term Notes. Non-default interest is being paid on the HVF II Variable Funding Notes and the U.S. Vehicle Medium Term Notes from funds drawn on existing letter of credit facilities, as described below. HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A Notes: In February 2019, HVF II extended the maturities of $3.4 billion of existing commitments under the HVF II Series 2013-A Notes from March 2020 to March 2021, added $400 million in new commitments and terminated the HVF II Series 2013-B Notes, transitioning $300 million in commitments to the HVF II Series 2013-A Notes. In May 2019, HVF II increased the commitments of the HVF II Series 2013 Notes by $40 million such that after giving effect to such commitments the maximum principal amount was approximately $4.1 billion. In February 2020, HVF II extended the maturity of the Series 2013-A Notes from March 2021 to March 2022 and increased the commitments thereunder by $750 million. After giving effect to the transactions, the aggregate maximum principal amount of the Series 2013-A Notes was $4.9 billion, where $0.2 billion of commitments have a maturity of March 2021. HVF II U.S. Vehicle Medium Term Notes HVF II Series 2019-1 Notes: In February 2019, HVF II issued the Series 2019-1 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D in an aggregate principal amount of $745 million. HVF II Series 2019-2 Notes: In May 2019, HVF II issued the Series 2019-2 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D in an aggregate principal amount of $799 million. HVF II Series 2019-3 Notes: In November 2019, HVF II issued the Series 2019-3 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D in an aggregate principal amount of $800 million. The Class D notes initially were purchased by an affiliate of HVF II and in December 2019, were sold to a third party. HVF II Series 2017-2 and Various Series 2018 and 2019 Class D Notes : In March 2020, HVF II sold the below notes to third parties, which it had acquired at the time of the respective initial offerings and which were previously eliminated in consolidation. (In millions) Aggregate Principal Amount HVF II Series 2017-2 Class D Notes $ 20 HVF II Series 2018-1 Class D Notes 58 HVF II Series 2018-2 Class D Notes 13 HVF II Series 2018-3 Class D Notes 13 HVF II Series 2019-1 Class D Notes 45 HVF II Series 2019-2 Class D Notes 49 Total $ 198 HVIF U.S. ABS Program On November 24, 2020, the Bankruptcy Court entered an order authorizing the Debtors to obtain interim fleet financing and the formation of HVIF. In accordance with the Bankruptcy Court's order, on November 25, 2020, HVIF issued the Series 2020-1 Rental Car Asset Backed Notes, Class A and Class B (collectively, the "HVIF Series 2020-1 Notes") in an aggregate principal amount of $4.0 billion to unaffiliated third parties. The HVIF Series 2020-1 Notes are comprised of $3.5 billion aggregate principal amount of Series 2020-1 3.00% Class A Notes and $500 million aggregate principal of Series 2020-1 3.75% Class B Notes. The HVIF Series 2020-1 Notes have a maturity date of November 24, 2021. The Class B Notes are subordinated to the Class A Notes. There were no notes issued as of December 31, 2020. The HVIF Series 2020-1 Notes are restricted to be drawn upon if the utilization of the vehicles that serve as collateral falls below 55%. Donlen U.S. ABS Program HFLF, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Donlen is the issuer under the Donlen U.S. ABS Program. HFLF has entered into a base indenture that permits it to issue term and revolving vehicle lease asset-backed securities. Donlen utilizes the HFLF securitization platform to finance its U.S. vehicle leasing operations. The notes issued by HFLF are ultimately backed by a special unit of beneficial interest in a pool of leases and the related vehicles. References to the “Donlen U.S. ABS Program” include HFLF’s Variable Funding Notes together with HFLF’s Medium Term Notes. The filing of the Chapter 11 Cases triggered an amortization event under the HFLF Variable Funding Notes and the HFLF Medium Term Notes. As a result, the remaining commitments under the HFLF Series 2013-2 Notes were terminated and, while the amortization events continue, proceeds from lease payments and from the sales of vehicles that collateralize the notes issued by HFLF must be applied to the reduction of principal and payment of interest on the notes. The principal will be allocated on approximately a pro rata basis and distributed to the note holders on the basis of seniority by class. HFLF is accruing default interest on the HFLF Variable Funding Notes, while non-default interest is being paid on the HFLF Variable Funding Notes and the HFLF Medium Term Notes. HFLF Variable Funding Notes In February 2020, HFLF amended the HFLF Series 2013-2 Notes to extend the end of the revolving period from March 2021 to March 2022 and increased the commitments thereunder by $100 million, such that the aggregate maximum borrowings of the HFLF Series 2013-2 Notes increased to $600 million. As a result of the pending sale of the Donlen Assets, the amount outstanding of $316 million has been classified as liabilities held for sale in the accompanying consolidated balance sheet as of December 31, 2020, as disclosed in Note 3, "Divestitures." HFLF Medium Term Notes HFLF Series 2019-1 Notes : In May 2019, HFLF issued the Series 2019-1 Asset Backed Notes, Class A, Class B, Class C, Class D and Class E in an aggregate principal amount of $650 million. The HFLF Series 2019-1 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. As a result of the pending sale of the Donlen Assets, the amount outstanding of $734 million has been classified as liabilities held for sale in the accompanying consolidated balance sheet as of December 31, 2020, as disclosed in Note 3, "Divestitures." DFLF Variable Funding Notes On October 12, 2020, the Bankruptcy Court entered an order authorizing Hertz and Donlen to enter into certain agreements in connection with DFLF. On October 16, 2020, DFLF issued the Series 2020-1 Notes to offset funding needs created by the amortization of the HFLF Variable Funding Notes, where DFLF will fund lease originations going forward. As of December 31, 2020, DFLF has access to up to $400 million of available funding, subject to certain conditions, and $300 million of committed funding available which increases by a minimum of $50 million per month, subject to the payment of incremental up-front fees. As a result of the pending sale of the Donlen Assets, the amount outstanding of $250 million has been classified as liabilities held for sale in the accompanying consolidated balance sheet as of December 31, 2020, as disclosed in Note 3, "Divestitures." Vehicle Debt-Other The filing of the Chapter 11 Cases constituted defaults, termination events and/or amortization events with respect to certain of the Company's existing debt obligations, as described below. U.S. Vehicle Revolving Credit Facility In August 2020, Hertz terminated the U.S. vehicle revolving credit facility by utilizing available cash to pay in full amounts outstanding of $93 million. European Vehicle Notes The European Vehicle Notes are the primary vehicle financing facility for the Company's vehicle rental operations in Italy, Belgium and Luxembourg and finances a portion of its assets in the United Kingdom, France, The Netherlands, Spain and Germany. The agreements governing the European Vehicle Notes contain covenants that apply to the Hertz credit group similar to those for the Senior Notes. The terms of the European Vehicle Notes permit Hertz Netherlands to incur additional indebtedness that would be pari passu with the European Vehicle Notes. Hertz Netherlands and certain other international subsidiaries entered into a limited forbearance and lock-up agreement (the “Lock-up Agreement”), as extended, in respect of the European Vehicle Notes pursuant to which the majority noteholders agreed not to take action in respect of any default or event of default that could have resulted from the Chapter 11 Cases, in order to support a transaction set-forth in the Lock-up Agreement, and to be implemented by a scheme of arrangement (subject to conditions and approvals), subsequent to the waiver expiration on December 31, 2020. The transaction set out in the Lock-up Agreement is intended to be implemented by a UK Scheme of Arrangement and is expected to comprise (i) an issuance of €250.0 million in new notes to certain European Vehicle Notes lenders for cash by Hertz International Limited (the “HIL Notes”); (ii) an on-lending of the proceeds from the HIL Notes to Hertz Netherlands; (iii) a bifurcation of the existing guarantee claims under the European Vehicle Notes, which would then be auctioned, and the amount owing on the European Vehicle Notes would be reduced by the proceeds from the sale of the existing guarantee claims; and (iv) an extension of the maturity and an alteration of the European Vehicle Notes terms which may include a further reduction of amounts owing (amounts and final terms are dependent upon the level of participation of existing European Vehicle Notes holders in the lending for the HIL Notes). The UK Scheme of Arrangement was approved by the requisite majority of European Vehicle Notes creditors. The guarantee bifurcation from Hertz is subject to approval by the Bankruptcy Court and the intention is to have the UK Scheme of Arrangement recognized in the U.S. under Chapter 15 of the Bankruptcy Code. A Bankruptcy Court hearing has been scheduled for March 2021. European ABS The European ABS is the primary vehicle financing facility for the Company's vehicle rental operations in France, the Netherlands, Germany and Spain. The lenders under the European ABS have been granted a security interest in the owned rental vehicles used in the Company's vehicle rental operations in these countries and certain contractual rights related to such vehicles. An amortization event, that would have arisen under the European ABS as a result of filing the Chapter 11 Cases, was waived in May 2020 as International Fleet Financing No.2 B.V (“IFF No. 2”) entered into a waiver agreement as extended which expires on March 5, 2021 or earlier if certain conditions are not met (the "European Waiver"). Under the European Waiver, aggregate maximum borrowings were not to exceed (i) €201 million from January 29, 2021 to February 11, 2021, (ii) €187 million from February 12, 2021 to February 18, 2021 and (iii) €180 million from and including February 19, 2021. Hertz Canadian Securitization TCL Funding Limited Partnership, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Hertz (“Funding LP”), is the issuer under the Hertz Canadian Securitization. The Hertz Canadian Securitization was established to facilitate financing activities relating to the vehicles used by the Company in the Canadian daily vehicle rental operations. The lenders under the Hertz Canadian Securitization have been granted a security interest primarily in the owned rental vehicles used in the Company's vehicle rental operations in Canada and certain contractual rights related to such vehicles as well as certain other assets owned by the Hertz entities connected to the financing. In connection with the establishment of the Hertz Canadian Securitization, Funding LP issued the Series 2015-A Variable Funding Rental Car Asset Backed Notes (the “Funding LP Series 2015-A Notes”) that provided for aggregate maximum borrowings of CAD$350 million on a revolving basis. The filing of the Chapter 11 Cases triggered an amortization event under the Hertz Canadian Securitization. As a result, the remaining committed available borrowings were terminated and proceeds from the sales of vehicles and receipt of vehicle receivables that collateralize the Hertz Canadian Securitization must be applied to the payment of principal. On September 23, 2020, Funding LP entered into an interim agreement under the Hertz Canadian Securitization in which default interest will be paid. On January 13, 2021, the Bankruptcy Court entered an order authorizing the Debtors to enter into a new series under the Hertz Canadian Securitization, Funding LP Series 2021-A Notes. On January 27, 2021, Funding LP entered into aggregate maximum borrowings of CAD$350 million on a revolving basis, subject to availability under the borrowing base limitation. The initial draw was used, in part, to pay outstanding obligations under the Funding LP Series 2015-A Notes, including any unpaid default interest. As a result of the payoff of the Funding LP Series 2015-A Notes, the Hertz Canadian Securitization amortization event ceased to exist. Donlen Canadian Securitization In December 2019, Donlen established a new securitization platform (the "Donlen Canadian Securitization") to finance its Canadian vehicle leasing operations. The Donlen Canadian Securitization provides for aggregate maximum borrowings of CAD$50 million on a revolving basis and a maturity of December 2022. As a result of the pending sale of the Donlen Assets, the amount outstanding of $27 million has been classified as liabilities held for sale in the accompanying consolidated balance sheet as of December 31, 2020, as disclosed in Note 3, "Divestitures." The filing of the Chapter 11 Cases triggered an event of default under the Donlen Canadian Securitization. Donlen entered into a waiver agreement, as extended, under the Donlen Canadian Securitization with an expiration date of the earlier of April 27, 2021 or the closing of the Donlen Asset Sale, in which the aggregate maximum borrowings were reduced from CAD$50 million to CAD$37 million. Australian Securitization HA Fleet Pty Limited, an indirect wholly-owned subsidiary of Hertz, is the issuer under the Australian Securitization. The Australian Securitization is the primary fleet financing facility for Hertz's vehicle rental operations in Australia. The lender under the Australian Securitization has been granted a security interest primarily in the owned rental vehicles used in its vehicle rental operations in Australia and certain contractual rights related to such vehicles. An amortization event that would have arisen under the Australian Securitization as a result of filing the Chapter 11 Cases was waived in May 2020 as HA Fleet Pty Limited, an indirect, wholly-own

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers In the Revenue Recognition section of Note 2, “Significant Accounting Policies”, the Company discloses 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, are accounted for under Topic 842, which the Company adopted in accordance with the effective date on January 1, 2019. Prior to the adoption of Topic 842, the Company accounted for such revenue under Topic 606 for the year ended December 31, 2018. The following disclosures are in accordance with Topic 606 for the year ended December 31, 2018. See Note 10, "Leases" for disclosures in accordance with Topic 842 for the years ended December 31, 2020 and 2019. 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"). The Company's airport rental customers are primarily 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 TNC drivers. The following table presents revenues from contracts with customers by reportable segment and disaggregated by product/service and type of location and customer for the year ended December 31, 2018: Year Ended December 31, 2018 (In millions) U.S. Rental Car International Rental Car All Other Operations Consolidated Vehicle rental and rental related: Airport $ 4,465 $ 1,288 $ — $ 5,753 Off airport 1,881 842 — 2,723 Total vehicle rental and rental related 6,346 2,130 — 8,476 Other: Licensee revenue 32 145 — 177 Ancillary retail vehicle sales 102 1 — 103 Fleet management — — 45 45 Total other 134 146 45 325 Total revenue from contracts with customers $ 6,480 $ 2,276 $ 45 $ 8,801 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 December 31, 2018 is $341 million and is included in accrued liabilities in the accompanying consolidated balance sheet. The revenue recognized during the year ended December 31, 2018 for such contract liabilities is $127 million. Additionally, the Company elected to apply the practical expedient where the value of unsatisfied performance obligations for sales-based royalty fees from franchisees is not disclosed.

Employee Retirement Benefits

Employee Retirement Benefits	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Employee Retirement Benefits	Employee Retirement Benefits The Company sponsors multiple domestic and international employee retirement benefit plans. Benefits are based upon years of service and compensation. The Hertz Corporation Account Balance Defined Benefit Pension Plan (the “Hertz Retirement Plan”) is a U.S. cash balance plan which was amended in 2014 to permanently discontinue future benefit accruals and participation under the plan for non-union employees. Additionally, the Company sponsors the Hertz Corporation Benefit Equalization Plan ("BEP") and the Hertz Corporation Supplemental Executive Retirement Plans (together with the BEP, the "Supplemental Plans"), where benefit accruals and participation under the Supplemental Plans were discontinued by the Company effective December 31, 2014. Some of the Company’s international subsidiaries have defined benefit retirement plans or participate in various insured or multiemployer plans. In certain countries, when the subsidiaries make the required funding payments, they have no further obligations under such plans. The Company's benefit plans are generally funded, except for certain non-qualified U.S. defined benefit plans and in Germany, France and Italy, where unfunded liabilities are recorded. The Company also sponsors defined contribution plans for certain eligible U.S. and non-U.S. employees, where contributions are matched based on specific guidelines in the plans. The Company also sponsors postretirement health care and life insurance benefits for a limited number of employees with hire dates prior to January 1, 1990. Management makes certain assumptions relating to discount rates, salary growth, long-term return on plan assets, retirement rates, mortality rates and other factors when determining amounts to be recognized. These assumptions are reviewed annually by management, assisted by the enrolled actuary, and updated as warranted. The Company uses a December 31 measurement date for all of the plans and utilizes fair value to calculate the market-related value of pension assets for purposes of determining the expected return on plan assets and accounting for asset gains and losses. Actual results that differ from the Company's assumptions are accumulated and amortized over future periods and, therefore, significant differences in actual experience or significant changes in assumptions would affect the Company's pension costs and obligations. The Company recognizes an asset for each over funded plan and a liability for each underfunded plan in the consolidated balance sheets. Pension plan liabilities are revalued annually based on updated assumptions and information about the individuals covered by the plan. For pension plans, if accumulated actuarial gains and losses are in excess of a 10 percent corridor, the excess is amortized on a straight-line basis over the average remaining service period of active participants. Prior service cost is amortized on a straight-line basis from the date recognized over the average remaining service period of active participants, when applicable. As a result of filing the Chapter 11 Cases, as disclosed in Note 1, "Background," participants of the Supplemental Plans are no longer entitled to benefit payments and are considered general creditors of the Company. As such, the Company classified $24 million of its U.S. pension benefit obligation as liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. The following tables set forth the funded status and the net periodic pension cost of the Hertz Retirement Plan and other U.S. based retirement plans, other postretirement benefit plans including health care and life insurance plans covering domestic (i.e. U.S.) employees and the retirement plans for international operations (“Non-U.S.”), together with amounts included in the accompanying consolidated balance sheets and statements of operations: Pension Benefits Postretirement U.S. Non-U.S. Benefits (U.S.) (In millions) 2020 2019 2020 2019 2020 2019 Change in Benefit Obligation Benefit obligation as of January 1 $ 559 $ 516 $ 286 $ 246 $ 12 $ 12 Service cost — — 1 1 — — Interest cost 15 21 5 6 — — Plan curtailments (2) — — — — — Plan settlements (88) (33) (5) — — — Benefits paid (3) (4) (6) (5) (1) (1) Foreign currency exchange rate translation — — 17 5 — — Actuarial loss (gain) 41 59 42 33 1 1 Benefit obligation as of December 31 (1) $ 522 $ 559 $ 340 $ 286 $ 12 $ 12 Change in Plan Assets Fair value of plan assets as of January 1 $ 503 $ 452 $ 228 $ 192 $ — $ — Actual return (loss) gain on plan assets 74 84 28 29 — — Company contributions 2 4 4 5 1 1 Plan settlements (88) (33) (5) — — — Benefits paid (3) (4) (6) (5) (1) (1) Foreign currency exchange rate translation — — 9 7 — — Fair value of plan assets as of December 31 $ 488 $ 503 $ 258 $ 228 $ — $ — Funded Status of the Plan Plan assets less than benefit obligation $ (34) $ (56) $ (82) $ (58) $ (12) $ (12) (1) Participants of the Supplemental Plans are no longer entitled to benefit payments and are considered general creditors of the Company. As such, the Company classified $24 million of its U.S. pension benefit obligation as liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. In 2020 and 2019, discount rates decreased, resulting in actuarial losses for the U.S. and Non-U.S. pension and postretirement plans. In addition, an increase in the inflation assumption in 2020 resulted in an actuarial loss in the Non-U.S. pension plans. Pension Benefits Postretirement U.S. Non-U.S. Benefits (U.S.) ($ in millions) 2020 2019 2020 2019 2020 2019 Amounts recognized in balance sheets: Prepaid expenses and other assets $ — $ — $ 14 $ 25 $ — $ — Accrued liabilities (34) (56) (96) (83) (12) (12) Net obligation recognized in the balance sheets $ (34) $ (56) $ (82) $ (58) $ (12) $ (12) Prior service credit $ — $ — $ (2) $ (2) $ — $ — Net gain (loss) (47) (73) (93) (70) (1) 1 Accumulated other comprehensive income (loss) (47) (73) (95) (72) (1) 1 Funded/(Unfunded) accrued pension or postretirement benefit 13 17 13 14 (11) (13) Net obligation recognized in the balance sheets $ (34) $ (56) $ (82) $ (58) $ (12) $ (12) Total recognized in other comprehensive (income) loss $ (26) $ (13) $ 23 $ 13 $ 1 $ 1 Total recognized in net periodic benefit cost and other comprehensive (income) loss $ (20) $ (3) $ 25 $ 12 $ 1 $ 1 Accumulated Benefit Obligation as of December 31 (1) $ 522 $ 559 $ 338 $ 284 N/A N/A Weighted-average assumptions as of December 31 Discount rate 2.3 % 3.1 % 1.4 % 1.9 % 2.3 % 3.2 % Expected return on assets 4.5 % 4.8 % 3.0 % 3.2 % N/A N/A Average rate of increase in compensation 4.3 % 4.3 % 2.1 % 2.2 % N/A N/A Interest crediting rate 3.8 % 3.8 % N/A N/A N/A N/A Initial health care cost trend rate N/A N/A N/A N/A 5.5 % 5.8 % Ultimate health care cost trend rate N/A N/A N/A N/A 4.5 % 4.5 % Number of years to ultimate trend rate N/A N/A N/A N/A 18 19 N/A - Not applicable (1) Participants of the Supplemental Plans are no longer entitled to benefit payments and are considered general creditors of the Company. As such, the Company classified $24 million of its U.S. pension benefit obligation as liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. The discount rate used to determine the December 31, 2020 and 2019 benefit obligations for U.S. pension plans is based on the rate from the Mercer Pension Discount Curve-Above Mean Yield that is appropriate for the duration of the Company's plan liabilities. For its plans outside the U.S., the discount rate reflects the market rates for an optimized subset of high-quality corporate bonds currently available. The discount rate in a country was determined based on a yield curve constructed from high quality corporate bonds in that country. The rate selected from the yield curve has a duration that matches its plan. The expected return on plan assets for each funded plan is based on expected future investment returns considering the target investment mix of plan assets. The following table sets forth the net periodic pension and postretirement (including health care, life insurance and auto) expense charged to net income (loss). The components of net periodic pension expense (benefit), other than service cost, are included in other (income) expense, net in the accompanying consolidated statements of operations. Pension Benefits Postretirement U.S. Non-U.S. Years Ended December 31, ($ in millions) 2020 2019 2018 2020 2019 2018 2020 2019 2018 Components of Net Periodic Pension and Postretirement Expense (Benefit) Service cost $ — $ — $ 1 $ 1 $ 1 $ 1 $ — $ — $ — Interest cost 15 21 19 5 6 7 — — 1 Expected return on plan assets (20) (22) (28) (7) (9) (11) — — — Net amortizations 2 6 1 1 1 1 — — — Settlement loss 9 5 3 2 — — — — — Net pension and postretirement expense (benefit) $ 6 $ 10 $ (4) $ 2 $ (1) $ (2) $ — $ — $ 1 Weighted-average discount rate for expense (January 1) 3.1 % 4.2 % 3.6 % 1.9 % 2.7 % 2.4 % 3.2 % 4.2 % 3.5 % Weighted-average assumed long-term rate of return on assets (January 1) 4.8 % 6.3 % 6.3 % 3.2 % 4.8 % 5.2 % N/A N/A N/A Weighted-average interest crediting rate for expense 3.8 % 3.8 % 3.8 % N/A N/A N/A N/A N/A N/A Initial health care cost trend rate N/A N/A N/A N/A N/A N/A 5.8 % 6.1 % 6.4 % Ultimate health care cost trend rate (rate to which cost trend is expected to decline) N/A N/A N/A N/A N/A N/A 4.5 % 4.5 % 4.5 % Number of years to ultimate trend rate N/A N/A N/A N/A N/A N/A 18 19 20 N/A - Not applicable The net of tax loss in accumulated other comprehensive income (loss) as of December 31, 2020 and 2019 relating to pension benefits of the Hertz Retirement Plan was $122 million and $118 million, respectively. The provisions charged to net income (loss) for the years ended December 31, 2020, 2019 and 2018 for all other pension plans were approximately $6 million, $11 million and $10 million, respectively. The provisions charged to net income (loss) for the years ended December 31, 2020, 2019 and 2018 for the defined contribution plans were approximately $11 million, $27 million and $26 million, respectively. Plan Assets The Company has a long-term investment outlook for the assets held in the Company sponsored plans, which is consistent with the long-term nature of each plan's respective liabilities. The Company has two major plans which reside in the U.S. and the United Kingdom. The U.S. Plan The U.S. Plan (the “Plan”) has a target asset allocation mix of 65% in investments intended to hedge the impact of capital market movements ("Immunizing Portfolio Investments"), comprised primarily of fixed income securities, and 35% in investments intended to earn more than the pension liability growth over the long-term ("Growth Portfolio Investments"). The Growth Portfolio Investments are primarily invested in passively managed equity funds, international and emerging market funds that are actively managed and non-investment grade fixed income funds. The overall strategy and the Immunizing Portfolio Investments are managed by professional investment managers. The investments within these asset classes are diversified in order to minimize the risk of large losses. The Plan assumes a 4.5% expected long-term annual weighted-average rate of return on assets. The fair value measurements of the Company's U.S. pension plan assets are based upon inputs that reflect quoted prices for identical assets or liabilities in active markets that are observable (Level 1) and significant observable inputs (Level 2) that reflect quoted prices for similar assets or liabilities in active markets. The fair value measurements of the U.S. pension plan assets relate to common collective trusts and other pooled investment vehicles consisting of the following asset categories: (In millions) December 31, 2020 December 31, 2019 Asset Category Level 1 Level 2 Measured at NAV (1) Level 1 Level 2 Measured at NAV (1) Cash $ 6 $ — $ — $ 10 $ — $ — Short Term Investments — 28 — — 36 — Equity Funds (2) : U.S. Large Cap — 66 — — 70 — U.S. Small Cap — 11 — — 10 — International Large Cap — 36 — — 38 — International Small Cap — 7 — — 7 — International Emerging Markets — 6 9 — 8 8 Fixed Income Securities: U.S. Treasuries — 18 — — 1 — Corporate Bonds — 245 — — 247 — Government Bonds — 9 — — 24 — Municipal Bonds — 10 — — 11 — Derivatives - Interest Rate 3 — — (3) — — Derivatives - Credit — — — — 1 — Non-Investment Grade Fixed Income (2) — 34 — — 35 — Total fair value of pension plan assets $ 9 $ 470 $ 9 $ 7 $ 488 $ 8 (1) Includes certain investments where the fair value measurement utilizes the net asset value (NAV) and as such, are not classified in the fair value levels above. (2) The Level 2 investments relate to investment funds that publish daily NAV per unit. The daily NAV is available to participants in the funds and redemptions can be made daily at the current NAV. The fair value and units are determined and published, and are the basis for current transactions. The investments are not eligible for the NAV practical expedient. However, they are measured at the published NAV because the quoted NAV per unit represents the price at which the investment would be sold in a transaction between independent market participants. The U.K. Plan The Company's United Kingdom defined benefit pension plan (the "U.K. Plan") has a target allocation of 30% actively managed diversified growth and multi-asset credit funds, 10% passive equity funds and 60% protection portfolio that consists of liability driven investments, Sterling liquidity fund and United Kingdom corporate bonds. The actively managed diversified growth and multi-asset credit funds are intended to deliver a long-term equity-like return but with reduced levels of volatility. The protection portfolio is designed to partially hedge the interest rate and inflation expectation exposure of the liabilities which are measured on a local regulatory basis. The amount that is required to be invested in each fund to maintain target hedge ratios will vary over time as the value of the liabilities change and the allocations within the protection portfolio will be allowed to vary accordingly. All of the invested assets of the U.K. Plan are held via pooled funds managed by professional investment managers. The U.K. Plan assumes a 3.0% expected long-term weighted-average rate of return on assets for the Plan in total. The Company's U.K. Plan accounts for $251 million of the $258 million in fair value of Non-U.S. plan assets as of December 31, 2020 and accounts for $221 million of the $228 million in fair value of Non-U.S. plan assets as of December 31, 2019. The fair value measurements of the Company's U.K. Plan assets are based upon inputs that reflect quoted prices for identical assets or liabilities in active markets that are observable (Level 1) and significant observable inputs that reflect quoted prices for similar assets or liabilities in active markets (Level 2). The fair value measurements of the U.K. Plan assets relate to common collective trusts and other pooled investment vehicles consisting of the following asset categories: (In millions) December 31, 2020 December 31, 2019 Asset Category Level 1 Level 2 Measured at NAV (1) Level 1 Level 2 Measured at NAV (1) Actively Managed Multi-Asset Funds: Diversified Growth Funds (2) $ — $ 39 $ — $ — $ 42 $ — Multi Asset Credit — — 37 — — 36 Passive Equity Funds: U.K. Equities (2) — 12 — — 11 — Overseas Equities (2) — 14 — — 14 — Passive Bond Funds: Corporate Bonds — 27 — — 24 — Liability Driven Investments (2) — 98 — — 48 — Liquidity Fund 24 — — 46 — — Total fair value of pension plan assets $ 24 $ 190 $ 37 $ 46 $ 139 $ 36 (1) Includes certain investments where the fair value measurement utilizes the net asset value (NAV) and as such, are not classified in the fair value levels above. (2) The Level 2 investments relate to investment funds that publish daily NAV per unit. The daily NAV is available to participants in the funds and redemptions can be made daily at the current NAV. The fair value and units are determined and published, and are the basis for current transactions. The investments are not eligible for the NAV practical expedient. However, they are measured at the published NAV because the quoted NAV per unit represents the price at which the investment would be sold in a transaction between independent market participants. Contributions The Company's policy for funded plans is to contribute annually, at a minimum, amounts required by applicable laws, regulations and union agreements. From time to time, the Company makes contributions beyond those legally required. In 2020 and 2019, the Company did not make any cash contributions to its U.S. qualified pension plan. In 2020 and 2019, the Company made contributions to its U.S. non-qualified pension plans of $2 million and $4 million, respectively. The Company made discretionary contributions of $3 million to its U.K. Plan during the years ended December 31, 2020 and 2019. The Company does not anticipate contributing to the U.S. qualified pension plan during 2021. For the U.K. Plan the Company anticipates contributing $3 million during 2021 and does not anticipate contributing any significant amounts to its other international plans. The level of 2021 and future contributions will vary, and is dependent on a number of factors including investment returns, interest rate fluctuations, plan demographics, funding regulations and the results of the final actuarial valuation. Estimated Future Benefit Payments The following table presents estimated future benefit payments: (In millions) Pension Benefits Postretirement 2021 $ 34 $ 1 2022 33 1 2023 36 1 2024 38 1 2025 40 1 After 2025 217 3 $ 398 $ 8 Multiemployer Pension Plans The Company contributes to several multiemployer defined benefit pension plans under collective bargaining agreements that cover certain of its union-represented employees. The risks of participating in such plans are different from the risks of a single-employer plan, in the following respects: a) Assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employers. b) If a participating employer ceases to contribute to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. c) If the Company ceases to have an obligation to contribute to the multiemployer plan in which the Company had been a contributing employer, the Company may be required to pay to the plan an amount based on the underfunded status of the plan and on the history of its participation in the plan prior to the cessation of its obligation to contribute. The amount that an employer that has ceased to have an obligation to contribute to a multiemployer plan is required to pay to the plan is referred to as a withdrawal liability. Amounts accrued for benefit payments under the Company's multiemployer pension plans of $2 million have been classified as liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. The Company's participation in multiemployer plans is outlined in the table below. For plans that are not individually significant to the Company, the total amount of contributions is presented in the aggregate. EIN /Pension Pension FIP / (1) Contributions by Surcharge Imposed Expiration Pension Fund 2020 2019 2020 2019 2018 Western Conference of Teamsters 91-6145047 Green Green N/A $ 5 $ 8 $ 7 N/A 9/30/2021 Other Plans (2) 2 4 3 Total Contributions $ 7 $ 12 $ 10 N/A Not applicable (1) Indicates whether a Funding Improvement Plan, as required under the Code to be adopted by plans in the “yellow” zone, or a Rehabilitation Plan, as required under the Code to be adopted by plans in the “red” zone, is pending or has been implemented as of the end of the plan year that ended in 2020. (2) Included in the Other Plans are contributions to the Local 1034 Pension Fund. The amount contributed by Hertz to the Local 1034 Pension Fund was reported as being more than 5% of total contributions to the plan on the fund's Form 5500 for the year ended December 31, 2019.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The stock-based compensation expense associated with the Hertz Holdings stock-based compensation plans is pushed down from Hertz Global and recorded on the books at the Hertz level. Plans In May 2016, Old Hertz Holdings board of directors adopted the Hertz Global Holdings, Inc. 2016 Omnibus Incentive Plan (the “Omnibus Plan”), which was amended by its stockholders at the annual meeting of stockholders held on May 24, 2019 to increase the number of shares which can be granted under the plan by 2,490,000 shares. As amended, the Omnibus Plan contains 11,767,723 shares which can be granted pursuant to the terms and conditions of the Omnibus Plan. In connection with the Rights Offering, as disclosed in Note 17, “Equity and Earnings (Loss) Per Share - Hertz Global”, and pursuant to the Omnibus Plan, the number of shares which can be granted under the plan was increased by an additional 453,741 shares in 2019. The Omnibus Plan provides for grants of both equity and cash awards, including non-qualified stock options, incentive stock options, stock appreciation rights, performance awards (shares and units), restricted stock, restricted stock units and deferred stock units to key executives, employees and non-management directors. The shares of common stock to be delivered under the Omnibus Plan may consist, in whole or in part, of common stock held in treasury or authorized but unissued shares of common stock, not reserved for any other purpose. As of December 31, 2020, the Company had 2,694,399 shares underlying awards outstanding under the Omnibus Plan. Shares subject to any award (other than distribution awards) granted under the Omnibus Plan that for any reason are canceled, terminated, forfeited, settled in cash or otherwise settled without the issuance of common stock after the effective date of the Omnibus Plan will generally be available for future grants under the Omnibus Plan. A summary of the total compensation expense and associated income tax benefits recognized, including the cost of stock options, RSUs, PSUs, and PSAs is as follows: Years Ended December 31, (In millions) 2020 2019 2018 Compensation expense $ (2) $ 18 $ 14 Income tax benefit — (2) (3) Total $ (2) $ 16 $ 11 As of December 31, 2020, there was approximately $8 million of total unrecognized compensation cost related to non-vested stock options, RSUs, PSUs and PSAs granted. The total unrecognized compensation cost is expected to be recognized over the remaining 1.1 years, on a weighted average basis, of the requisite service period that began on the grant dates. Stock Options and Stock Appreciation Rights All stock options and stock appreciation rights granted under the Omnibus Plan will have a per-share exercise price of not less than the fair market value of one share of Hertz Global's common stock on the grant date. Stock options and stock appreciation rights will vest based on a minimum period of service or the occurrence of events (such as a change in control, as defined in the Omnibus Plan) specified by the Compensation Committee of the Company's Board. No stock options or stock appreciation rights will be exercisable after a maximum of ten years from the grant date. The Company accounts for options as equity-classified awards and recognizes compensation cost on a straight-line basis over the vesting period. The value of each option award is estimated on the grant date using a Black-Scholes option valuation model that incorporates the assumptions noted in the following table. The Company calculates the expected volatility based on the historical movement of its stock price. Grants Assumption 2020 (1) 2019 (2) 2018 Expected volatility — % 68.5 % 56.7 % Expected dividend yield — % — % — % Expected term (years) 0 7 5 Risk-free interest rate — % 1.93 % 2.57 % Weighted-average grant date fair value $ — $ 9.19 $ 8.92 (1) There were no options approved to be granted by the Company's Compensation Committee in 2020. (2) Options granted in 2019 are solely related to the incremental grants awarded as part of the Rights Offering, as disclosed in Note 17, "Equity and Earnings (Loss) Per Share - Hertz Global." A summary of option activity as of December 31, 2020 is presented below: Options Shares Weighted Weighted- Aggregate Intrinsic Outstanding as of January 1, 2020 1,055,954 $ 28.36 4.0 $ — Granted — — — — Exercised — — — — Forfeited or Expired (956,916) 27.70 — — Outstanding as of December 31, 2020 99,038 34.76 2.3 — Exercisable as of December 31, 2020 98,194 35.35 1.4 — A summary of non-vested option activity as of December 31, 2020 is presented below: Non-vested Weighted- Weighted-Average Non-vested as of January 1, 2020 477,438 $ 18.31 $ 9.35 Granted — — — Vested (19,664) 17.97 8.93 Forfeited (434,525) 18.34 9.39 Non-vested as of December 31, 2020 23,249 18.07 9.06 Additional information pertaining to option activity under the plans is as follows: Years Ended December 31, (In millions) 2020 2019 2018 Aggregate intrinsic value of stock options exercised $ — $ — $ — Cash received from the exercise of stock options — — — Fair value of options that vested — 5 3 Tax benefit realized on exercise of stock options — — — Performance Stock Awards, Performance Stock Units, Restricted Stock and Restricted Stock Units PSAs and PSUs granted under the Omnibus Plan will vest based on the achievement of pre-determined performance goals over performance periods determined by the Compensation Committee. Each of the units granted represent the right to receive one share of Hertz Global's common stock on a specified future date. In the event of an employee's death or disability, a pro rata portion of the employee's PSAs and PSUs will vest to the extent performance goals are achieved at the end of the performance period. Restricted stock and RSUs granted under the Omnibus Plan will vest based on a minimum period of service or the occurrence of events (such as a change in control, as defined in the Omnibus Plan) specified by the Compensation Committee. On August 4, 2020, in recognition of the Chapter 11 Cases, all long-term incentive plans were frozen and as such, no shares will be distributed upon vesting (the "Equity Vesting Event"). As a result, none of the 2018, 2019 or 2020 unvested PSA, PSU and RSU equity awards will vest. The 2020 threshold performance achievement set forth in these 2018, 2019 and 2020 PSU awards also failed to be met due to the COVID-19 pandemic impact on our financial results, and as a result, no PSU shares will be distributed upon vesting. A summary of the PSU and PSA activity as of December 31, 2020 is presented below: Shares Weighted- Aggregate Intrinsic Outstanding as of January 1, 2020 2,247,643 $ 19.08 $ 21 Granted 1,482,197 22.18 — Vested (75,288) 20.15 — Forfeited or Expired (1,841,247) 22.05 — Outstanding as of December 31, 2020 1,813,305 16.47 2 A summary of RSU activity as of December 31, 2020 is presented below: Shares Weighted- Aggregate Intrinsic Outstanding as of January 1, 2020 1,044,269 $ 18.43 $ 16 Granted 757,294 12.18 — Vested (396,749) 19.07 — Forfeited or Expired (622,758) 14.50 — Outstanding as of December 31, 2020 782,056 15.11 1 Additional information pertaining to RSU activity is as follows: Years Ended December 31, 2020 2019 2018 Total fair value of awards that vested (In millions) $ 8 $ 12 $ 5 Weighted-average grant date fair value of awards 12.18 18.66 17.40 Compensation expense for PSUs, PSAs and RSUs is based on the grant date fair value, and is recognized ratably over the vesting period. For grants in 2020, 2019 and 2018, the vesting period is three years. In addition to the service vesting condition, the PSUs and PSAs had an additional vesting condition which called for the number of units that will be awarded being based on achievement of a certain level of Operating Income, Adjusted Corporate EBITDA or other performance measures over the applicable measurement period. As a result of the Equity Vesting Event, none of the 2018, 2019 or 2020 unvested PSA, PSU and RSU shares will be distributed upon vesting.

Leases

Leases	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Leases	Leases The Company adopted Topic 842 in accordance with the effective date on January 1, 2019. In the Revenue Recognition section of Note 2, “Significant Accounting Policies, the Company discloses 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, is accounted for under Topic 842. Prior to the adoption of Topic 842, the Company accounted for such revenue under Topic 606 for the year ended December 31, 2018. The Company enters into certain agreements as a lessor under which it rents vehicles and leases fleets to customers. The Company enters into certain agreements as a lessee to rent real estate, vehicles and other equipment and to conduct its vehicle rental operations under concession agreements. If any of the following criteria are met, the Company classifies the lease as a financing lease (as a lessee) or as a direct financing or sales-type lease (both as a lessor): • The lease transfers ownership of the underlying asset to the lessee by the end of the lease term; • The lease grants the lessee an option to purchase the underlying asset that the Company is reasonably certain to exercise; • The lease term is for 75% or more of the remaining economic life of the underlying asset, unless the commencement date falls within the last 25% of the economic life of the underlying asset; • The present value of the sum of the lease payments equals or exceeds 90% of the fair value of the underlying asset; or • The underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. Leases that do not meet any of the above criteria are accounted for as operating leases. The Company combines lease and non-lease components in its contracts under Topic 842, when permissible. The following further describes the Company's leasing transactions. Lessor The Company's operating leases for vehicle rentals have rental periods that are typically short term (e.g., daily or weekly) and can generally be extended for up to one month or terminated at the customer's discretion. Rental charges are computed on a limited or unlimited mileage rate, or on a time rate plus a mileage charge. In connection with the vehicle rental, the Company offers supplemental equipment rentals (e.g., child seats and ski racks) which are deemed lease components. The Company also offers value-added services in connection with the vehicle rental, which are deemed non-lease components, such as loss or collision damage waiver, theft protection, liability and personal accident/effects insurance coverage, premium emergency roadside service and satellite radio. Additionally, the Company charges for variable services primarily consisting of tolls and refueling charges incurred during the rental period and for fees associated with the early or late termination of the vehicle lease. The Company mitigates residual value risk of its revenue earning vehicles by utilizing manufacturer repurchase and guaranteed depreciation programs, using sophisticated vehicle diagnostic and repair equipment to maintain the condition of its vehicles and through periodic reviews of vehicle depreciation rates based on management's ongoing assessment of present and estimated future market conditions. The Company's operating leases for fleets have lease periods that are typically for twelve months, after which the lease converts to a month-to-month lease, allowing the vehicle to be surrendered any time thereafter. The Company's fleet leases contain a terminal rental adjustment clause which are considered variable charges. The following table summarizes the amount of operating lease income and other income included in total revenues in the accompanying consolidated statements of operations for the years ended December 31, 2020 and 2019: (In millions) 2020 2019 Operating lease income from vehicle rentals $ 4,320 $ 8,579 Operating lease income from fleet leasing 639 674 Variable operating lease income 30 164 Revenue accounted for under Topic 842 4,989 9,417 Revenue accounted for under Topic 606 269 362 Total revenues $ 5,258 $ 9,779 Lessee As a lessee, the Company has the following types of operating leases: • Concession agreements which grant the Company the right to conduct its vehicle rental operations at airports, hotels and train stations and to use building space such as terminal counters and parking garages; • Real estate leases for its off airport vehicle rental locations and other premises; • Revenue earning vehicle leases; and • Other equipment leases. The Company's lease terms generally range from one month to thirty-five years and a number of agreements contain escalation clauses, which increase the payment obligation based on a fixed or variable rate and renewal options. The length of renewals vary and may result in different payment terms. Payment terms are based on fixed rates explicit in the lease, including guaranteed minimums and/or variable rates based on: • Operating expenses, such as common area charges, real estate taxes and insurance; • A percentage of revenues or sales arising at the relevant premises; and/or • Periodic inflation adjustments. The Company recognizes a right-of-use asset and lease liability in its accompanying consolidated balance sheets for leases with a term greater than twelve months. Options to extend or terminate a lease are included in the Company's right-of-use asset and lease liability when it is reasonably certain that such options will be exercised. The Company does not recognize right-of-use assets or lease liabilities for short-term leases (i.e., those with a term of twelve months or less) and recognizes lease expense on a straight-line basis over the lease term, as applicable. To determine the present value of its lease payments, the Company utilizes the interest rate implicit in the lease agreement. If the implicit interest rate cannot be determined in the lease agreement, the Company utilizes the Company's collateralized incremental borrowing rate as of the date of adoption, January 1, 2019, or the commencement date of the lease, whichever is later. As a result of the impact from COVID-19 as disclosed in Note 1, "Background," the Company received rent concessions in the form of abatement and payment deferrals of fixed and variable rent payments for its airport and off airport locations in the amount of approximately $300 million during the year ended December 31, 2020, which substantially represents amounts previously due in 2020. The Company elected to apply the accounting relief provided by the FASB and elected to not evaluate whether the concession is a modification. The Company will account for the concession as if it were part of the existing contract. In 2020, the Bankruptcy Court entered the Lease Rejection Orders which applied, in the aggregate, to 359 off airport and 66 airport locations in the Company's U.S. RAC segment. The following table summarizes the amount of lease costs incurred by the Company: Years ended December 31, (In millions) 2020 2019 2018 Minimum fixed lease costs (1) : Short-term lease costs $ 142 $ 130 N/A Operating lease costs 527 545 N/A Total 669 675 $ 577 Variable lease costs 23 326 438 Total lease costs $ 692 $ 1,001 $ 1,015 (1) Topic 842, which was adopted on January 1, 2019, requires the Company to disclose the short-term portion of minimum fixed lease costs. For the year ended December 31, 2018, under the then existing guidance in Topic 840, the Company was only required to disclose minimum fixed costs in total. The following summarizes the weighted-average remaining lease term and weighted-average discount rate for the Company's operating leases as a lessee: December 31, 2020 Weighted-average remaining lease term (in years) 9.5 Weighted-average discount rate 10.6 % The following table summarizes the Company's minimum fixed lease obligations under existing agreements as a lessee, excluding variable concession obligations in excess of minimum annual guarantees and short-term leases, as of December 31, 2020: (In millions) 2021 $ 449 2022 386 2023 313 2024 248 2025 193 After 2025 1,061 Total lease payments 2,650 Interest (1,014) Operating lease liabilities at December 31, 2020 $ 1,636
Leases	Leases The Company adopted Topic 842 in accordance with the effective date on January 1, 2019. In the Revenue Recognition section of Note 2, “Significant Accounting Policies, the Company discloses 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, is accounted for under Topic 842. Prior to the adoption of Topic 842, the Company accounted for such revenue under Topic 606 for the year ended December 31, 2018. The Company enters into certain agreements as a lessor under which it rents vehicles and leases fleets to customers. The Company enters into certain agreements as a lessee to rent real estate, vehicles and other equipment and to conduct its vehicle rental operations under concession agreements. If any of the following criteria are met, the Company classifies the lease as a financing lease (as a lessee) or as a direct financing or sales-type lease (both as a lessor): • The lease transfers ownership of the underlying asset to the lessee by the end of the lease term; • The lease grants the lessee an option to purchase the underlying asset that the Company is reasonably certain to exercise; • The lease term is for 75% or more of the remaining economic life of the underlying asset, unless the commencement date falls within the last 25% of the economic life of the underlying asset; • The present value of the sum of the lease payments equals or exceeds 90% of the fair value of the underlying asset; or • The underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. Leases that do not meet any of the above criteria are accounted for as operating leases. The Company combines lease and non-lease components in its contracts under Topic 842, when permissible. The following further describes the Company's leasing transactions. Lessor The Company's operating leases for vehicle rentals have rental periods that are typically short term (e.g., daily or weekly) and can generally be extended for up to one month or terminated at the customer's discretion. Rental charges are computed on a limited or unlimited mileage rate, or on a time rate plus a mileage charge. In connection with the vehicle rental, the Company offers supplemental equipment rentals (e.g., child seats and ski racks) which are deemed lease components. The Company also offers value-added services in connection with the vehicle rental, which are deemed non-lease components, such as loss or collision damage waiver, theft protection, liability and personal accident/effects insurance coverage, premium emergency roadside service and satellite radio. Additionally, the Company charges for variable services primarily consisting of tolls and refueling charges incurred during the rental period and for fees associated with the early or late termination of the vehicle lease. The Company mitigates residual value risk of its revenue earning vehicles by utilizing manufacturer repurchase and guaranteed depreciation programs, using sophisticated vehicle diagnostic and repair equipment to maintain the condition of its vehicles and through periodic reviews of vehicle depreciation rates based on management's ongoing assessment of present and estimated future market conditions. The Company's operating leases for fleets have lease periods that are typically for twelve months, after which the lease converts to a month-to-month lease, allowing the vehicle to be surrendered any time thereafter. The Company's fleet leases contain a terminal rental adjustment clause which are considered variable charges. The following table summarizes the amount of operating lease income and other income included in total revenues in the accompanying consolidated statements of operations for the years ended December 31, 2020 and 2019: (In millions) 2020 2019 Operating lease income from vehicle rentals $ 4,320 $ 8,579 Operating lease income from fleet leasing 639 674 Variable operating lease income 30 164 Revenue accounted for under Topic 842 4,989 9,417 Revenue accounted for under Topic 606 269 362 Total revenues $ 5,258 $ 9,779 Lessee As a lessee, the Company has the following types of operating leases: • Concession agreements which grant the Company the right to conduct its vehicle rental operations at airports, hotels and train stations and to use building space such as terminal counters and parking garages; • Real estate leases for its off airport vehicle rental locations and other premises; • Revenue earning vehicle leases; and • Other equipment leases. The Company's lease terms generally range from one month to thirty-five years and a number of agreements contain escalation clauses, which increase the payment obligation based on a fixed or variable rate and renewal options. The length of renewals vary and may result in different payment terms. Payment terms are based on fixed rates explicit in the lease, including guaranteed minimums and/or variable rates based on: • Operating expenses, such as common area charges, real estate taxes and insurance; • A percentage of revenues or sales arising at the relevant premises; and/or • Periodic inflation adjustments. The Company recognizes a right-of-use asset and lease liability in its accompanying consolidated balance sheets for leases with a term greater than twelve months. Options to extend or terminate a lease are included in the Company's right-of-use asset and lease liability when it is reasonably certain that such options will be exercised. The Company does not recognize right-of-use assets or lease liabilities for short-term leases (i.e., those with a term of twelve months or less) and recognizes lease expense on a straight-line basis over the lease term, as applicable. To determine the present value of its lease payments, the Company utilizes the interest rate implicit in the lease agreement. If the implicit interest rate cannot be determined in the lease agreement, the Company utilizes the Company's collateralized incremental borrowing rate as of the date of adoption, January 1, 2019, or the commencement date of the lease, whichever is later. As a result of the impact from COVID-19 as disclosed in Note 1, "Background," the Company received rent concessions in the form of abatement and payment deferrals of fixed and variable rent payments for its airport and off airport locations in the amount of approximately $300 million during the year ended December 31, 2020, which substantially represents amounts previously due in 2020. The Company elected to apply the accounting relief provided by the FASB and elected to not evaluate whether the concession is a modification. The Company will account for the concession as if it were part of the existing contract. In 2020, the Bankruptcy Court entered the Lease Rejection Orders which applied, in the aggregate, to 359 off airport and 66 airport locations in the Company's U.S. RAC segment. The following table summarizes the amount of lease costs incurred by the Company: Years ended December 31, (In millions) 2020 2019 2018 Minimum fixed lease costs (1) : Short-term lease costs $ 142 $ 130 N/A Operating lease costs 527 545 N/A Total 669 675 $ 577 Variable lease costs 23 326 438 Total lease costs $ 692 $ 1,001 $ 1,015 (1) Topic 842, which was adopted on January 1, 2019, requires the Company to disclose the short-term portion of minimum fixed lease costs. For the year ended December 31, 2018, under the then existing guidance in Topic 840, the Company was only required to disclose minimum fixed costs in total. The following summarizes the weighted-average remaining lease term and weighted-average discount rate for the Company's operating leases as a lessee: December 31, 2020 Weighted-average remaining lease term (in years) 9.5 Weighted-average discount rate 10.6 % The following table summarizes the Company's minimum fixed lease obligations under existing agreements as a lessee, excluding variable concession obligations in excess of minimum annual guarantees and short-term leases, as of December 31, 2020: (In millions) 2021 $ 449 2022 386 2023 313 2024 248 2025 193 After 2025 1,061 Total lease payments 2,650 Interest (1,014) Operating lease liabilities at December 31, 2020 $ 1,636

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring	RestructuringDue to the impact from COVID-19 as disclosed in Note 1, "Background," the Company initiated a restructuring program beginning in April 2020, affecting approximately 11,000 employees in its U.S. Rental Car segment and corporate operations and incurred approximately $37 million of charges for termination benefits during the second quarter of 2020, where $7 million was classified as liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020 as disclosed below. This program was substantially completed in the third quarter of 2020. The following tables summarize restructuring charges incurred under this program: (In millions) Year Ended December 31, 2020 Termination charges: Direct vehicle and operating $ 25 Selling, general and administrative 12 Total $ 37 (In millions) Year Ended December 31, 2020 Termination charges: U.S. Rental Car Segment $ 34 Corporate operations 3 Total $ 37 The tables above do not include pension-related settlement charges incurred during the year ended December 31, 2020. See Note 8, "Employee Retirement Benefits." The following table summarizes the activity affecting the restructuring accrual, which is recorded in accrued liabilities or was reclassified to liabilities subject to compromise in the accompanying consolidated balance sheet, during the year ended December 31, 2020. (In millions) Termination Balance as of December 31, 2019 $ 1 Charges incurred 37 Cash payments (29) Liabilities subject to compromise (1) (7) Other (2) Balance as of December 31, 2020 $ — (1) As a result of filing the Chapter 11 Cases, as disclosed in Note 1, "Background," the Company classified $7 million of restructuring charges as liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. See Note 19, "Liabilities Subject to Compromise."

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Income Tax (Provision) Benefit	Income Tax (Provision) Benefit On March 27, 2020, the U.S. federal government passed the CARES Act. The Company has considered the income tax provisions of the CARES Act in the tax benefit calculation for the year ended December 31, 2020. Under the CARES Act, Alternative Minimum Tax ("AMT") credit refunds are accelerated and fully refundable in tax returns through the year 2019. As a result of this provision, the Company recovered its remaining AMT credit as a refund in the amount of $20 million in the year ended December 31, 2020. The Company also benefited from the provisions of the CARES Act related to the employee retention credit, payroll tax deferral, the increase in the interest expense limitation, and temporary suspension of the NOL percentage utilization limitation. On December 22, 2017, the U.S. enacted the TCJA, which made substantial changes to corporate income tax laws. Among the key provisions were a U.S. corporate tax rate reduction from 35% to 21% effective for tax years beginning January 1, 2018; an acceleration of expensing for certain business assets; a repeal of the LKE deferral rules as applicable to personal property, including rental vehicles; a one-time transition tax on the deemed repatriation of cumulative earnings from foreign subsidiaries; and changes to U.S. taxation of foreign earnings from a worldwide to a territorial tax system effective for tax years beginning January 1, 2018. The Company has reflected the adoption and impact of TCJA in its financial results for all years following enactment. The components of income (loss) before income taxes for the Company's domestic and foreign operations were as follows: Hertz Global As of December 31, (In millions) 2020 2019 2018 Domestic $ (1,692) $ 28 $ (293) Foreign (360) (15) 36 Total income (loss) before income taxes $ (2,052) $ 13 $ (257) Hertz As of December 31, (In millions) 2020 2019 2018 Domestic $ (1,823) $ 35 $ (286) Foreign (360) (15) 36 Total income (loss) before income taxes $ (2,183) $ 20 $ (250) The total income tax provision (benefit) consists of the following: Hertz Global and Hertz As of December 31, (In millions) 2020 2019 2018 Current: Federal $ — $ — $ (3) Foreign 18 20 32 State and local 4 16 7 Total current 22 36 36 Deferred: Federal (356) 1 (66) Foreign 35 (1) 11 State and local (30) 27 (11) Total deferred (351) 27 (66) Total provision (benefit) - Hertz Global (329) 63 (30) Federal deferred tax (provision) benefit applicable to Hertz Holdings 1 2 2 Total provision (benefit) - Hertz $ (328) $ 65 $ (28) The principal items of the U.S. and foreign net deferred tax assets and liabilities are as follows: Hertz Global and Hertz As of December 31, (In millions) 2020 2019 Deferred tax assets: Employee benefit plans $ 44 $ 44 Net operating loss carry forwards 828 2,386 Federal and state tax credit carry forwards 55 43 Accrued and prepaid expenses 124 127 Operating lease liabilities 390 410 Total deferred tax assets 1,441 3,010 Less: valuation allowance (651) (396) Total net deferred tax assets 790 2,614 Deferred tax liabilities: Depreciation on tangible assets (380) (2,518) Intangible assets (723) (738) Operating lease right-of-use assets (406) (422) Total deferred tax liabilities (1,509) (3,678) Net deferred tax liability - Hertz Global (719) (1,064) Deferred tax asset - net operating loss applicable to Hertz Holdings (5) (3) Net deferred tax liability - Hertz $ (724) $ (1,067) Hertz Global and Hertz In determining valuation allowances, an assessment of positive and negative evidence was performed regarding realization of the deferred tax assets. This assessment included the evaluation of cumulative earnings and losses in recent years, scheduled reversals of deferred tax liabilities, the availability of carry forwards and the remaining period of the respective carry forward, future taxable income and any applicable tax-planning strategies that are available. As of December 31, 2020, the Company has U.S. Federal net operating loss carryforwards ("Federal NOLs") of approximately $1.2 billion, $252 million tax effected and federal tax credits of approximately $23 million. Our Federal NOLs are driven by U.S. operational losses and have an indefinite carryforward period, which may offset 80% of taxable income generated in any future year. The federal tax credits begin expiring in 2035. The Company has not recorded a valuation allowance on its Federal NOLs or federal tax credits as there are adequate U.S. deferred tax liabilities that could be realized within the carry forward periods. As of December 31, 2020, the Company had state net operating loss carry forwards ("State NOLs") of approximately $4.1 billion of which $550 million have an indefinite utilization period with remaining State NOLs beginning to expire in 2021. The tax effected State NOLs are recorded as a deferred tax asset in the amount of $244 million, and are offset, in part, by a valuation allowance totaling $236 million. In addition, as of December 31, 2020, the Company has approximately $31 million in state tax credits that are fully offset by a valuation allowance. The state tax credits expire over various years beginning in 2021 depending upon when they were generated and the particular jurisdiction. We evaluated the positive and negative evidence supporting realization of the State NOLs and state tax credits on a tax filing basis. We recorded valuation allowances in those jurisdictions with a history of cumulative losses and no other sources of taxable income, including deferred tax liabilities or tax planning strategies, sufficient to conclude the State NOLs and credits are more-likely-than-not to be realized. As of December 31, 2020, the Company had foreign net operating loss carry forwards ("Foreign NOLs") of approximately $1.3 billion, of which $1.1 billion have an indefinite utilization period with the remaining Foreign NOLs beginning to expire in 2024. The tax effected Foreign NOLs are recorded as a deferred tax asset of $332 million, and are offset, in part, by valuation allowances totaling $303 million. In addition, as of December 31, 2020, the Company has approximately $1 million of tax credits in foreign jurisdictions and are fully offset by a valuation allowance. The foreign tax credits have an indefinite utilization period. We evaluated the positive and negative evidence supporting realization of the Foreign NOLs and foreign tax credits on a tax filing basis. We recorded valuation allowances in those jurisdictions with a history of cumulative losses and no other sources of taxable income, including deferred tax liabilities or tax planning strategies, sufficient to conclude the Foreign NOLs or foreign credits were more-likely-than-not to be realized. The Company's Federal, State and Foreign NOLs may be subject to limitations upon an ownership change before or upon emergence from Chapter 11. The significant items in the reconciliation of the statutory and effective income tax rates consisted of the following items in the table below. Percentages are calculated from the underlying numbers in thousands, and as a result, may not agree to the amount when calculated in millions. Hertz Global and Hertz Years Ended December 31, 2020 2019 2018 Statutory federal tax rate 21 % 21 % 21 % Foreign tax rate differential — (31) (1) State and local income taxes, net of federal income tax benefit 5 (102) 7 Change in state apportionment and statutory rates, net of federal income tax benefit 1 (17) 1 Tax reform — — (9) Federal and foreign permanent differences — (3) — Withholding taxes — 62 (3) Uncertain tax positions — 29 (3) Change in valuation allowance (11) 591 (5) Change in foreign statutory rates — 15 (3) Tax credits — (75) 7 Stock option shortfalls — 7 (1) All other items, net — 3 1 Effective tax rate - Hertz Global 16 500 12 All other items, net rate impact applicable to Hertz Holdings (1) (174) (1) Effective tax rate - Hertz 15 % 326 % 11 % The Company recorded a tax benefit in 2020 versus a tax provision in 2019. The change is primarily due to significant losses in 2020 resulting from the effect of COVID-19, offset, in part, by the impact of valuation allowances on net deferred tax assets. The Company recorded a tax provision in 2019 versus a tax benefit in 2018. The change is primarily due to an increase in the valuation allowance relating to losses in certain U.S. and non-U.S. jurisdictions and an increase in pretax operating results. As of December 31, 2020, total unrecognized tax benefits were $53 million and, if settled, $36 million would favorably impact the effective tax rate in future periods. However, considering correlative adjustments associated with some uncertain tax positions, the net impact on the income tax provision would be approximately $4 million if settled. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Hertz Global and Hertz Years Ended December 31, (In millions) 2020 2019 2018 Balance as of January 1 $ 48 $ 49 $ 43 Increase (decrease) attributable to tax positions taken during prior periods 5 5 3 Increase (decrease) attributable to tax positions taken during the current year 1 1 5 Decrease attributable to settlements with taxing authorities (1) (7) (2) Balance as of December 31 $ 53 $ 48 $ 49 The Company conducts business globally and, as a result, files tax returns in the U.S. and non-U.S. jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world. The open tax years for these jurisdictions span from 2005 to 2020. During 2020, the IRS proposed transfer pricing adjustments to the Company's 2014 and 2015 tax years, for which the company is pursuing competent authority relief. The IRS continues to audit the Company's 2016 tax year. Previously, in 2016, the German Tax Authorities provided us with an assessment which asserted that we underreported our German taxable income for our 2005–2010 tax years. This assertion was based on the German Tax Authorities’ belief that certain intercompany charges made by the U.S. to our German entity were overstated. To avoid the double taxation resulting in these tax years from this assessment, the Company pursued U.S. and German competent authority relief. We believe that it is reasonably possible that a decrease of up to $25 million in unrecognized tax benefits related to the German assessment may be necessary within the coming year. Additionally, we are under audit in several U.S. states and other non-U.S. jurisdictions, and it is reasonably possible that the amount of unrecognized tax benefits may change as the result of the completion of ongoing examinations, the expiration of the statute of limitations or other unforeseen circumstances. The amount that is reasonably possible to change during the next twelve months is not expected to be significant. Net, after-tax interest and penalties related to tax liabilities are classified as a component of income tax in the accompanying consolidated statements of operations. Income tax expense of $1 million and $0.4 million was recognized for such interest and penalties during the years ended December 31, 2020 and 2019, respectively, and during the year ended December 31, 2018, a benefit of $1 million was recognized for such interest and penalties. Net, after-tax interest and penalties were accrued as a component of tax in the Company's consolidated balance sheet in the amount of $9 million and $8 million as of December 31, 2020 and 2019, respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value MeasurementsUnder U.S. GAAP, entities are allowed to measure certain financial instruments and other items at fair value. The Company has not elected the fair value measurement option for any of its assets or liabilities that meet the criteria for this option. Irrespective of the fair value option previously described, U.S. GAAP requires certain financial and non-financial assets and liabilities of the Company to be measured on either a recurring basis or on a nonrecurring basis. Assets and Liabilities Measured at Fair Value on a Recurring Basis The fair value of cash, restricted cash, accounts receivable, accounts payable and accrued liabilities, to the extent the underlying liability will be settled in cash, approximates the carrying values because of the short-term nature of these instruments. The Company's assessment of goodwill and other intangible assets for impairment includes an assessment using various Level 2 inputs (earnings before interest, taxes, depreciation and amortization ("EBITDA") multiples and royalty rates) and Level 3 inputs (forecasted cash flows and discount rates). See Note 2, "Significant Accounting Policies — Recoverability of Goodwill and Intangible Assets," for more information on the application of the use of fair value methodology in the Company's assessment. 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 bank money market and interest-bearing accounts. The Company determines the fair value of cash equivalents using a market approach based on quoted prices in active markets (i.e., Level 1 inputs). Investments in equity securities that are measured at fair value on a recurring basis consisted of marketable securities which the Company divested of in 2020. See Note 3, "Divestitures," for further information. The following table summarizes the ending balances of the Company's cash equivalents, restricted cash equivalents and investments: December 31, 2020 December 31, 2019 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash equivalents $ 723 $ — $ — $ 723 $ 531 $ — $ — $ 531 Marketable securities — — — — 74 — — 74 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 (i.e., Level 2 inputs). As of December 31, 2020 As of December 31, 2019 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value (1) Nominal Unpaid Principal Balance Aggregate Fair Value Non-Vehicle Debt (2) $ 4,747 $ 3,382 $ 3,755 $ 3,840 Vehicle Debt 6,087 6,021 13,415 13,529 Total $ 10,834 $ 9,403 $ 17,170 $ 17,369 (1) The decrease in the aggregate fair value of the Company's debt is due to the impact from COVID-19 and the filing of the Chapter 11 Cases, as disclosed in Note 1, "Background." (2) Includes Non-Vehicle Debt included in liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. See Note 6, "Debt." Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis Donlen Asset Sale As a result of the impending sale of the Donlen Assets, the associated assets and liabilities have been classified as assets held for sale and liabilities held for sale, respectively as of December 31, 2020. Additionally, the assets and liabilities classified as held for sale were required to be recorded at the lower of carrying value or fair value less any costs to sell. See Note 3, "Divestitures," for additional information.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2020
Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Changes in the accumulated other comprehensive income (loss) balance by component (net of tax) are as follows: (In millions) Pension and Other Post-Employment Benefits Foreign Currency Items Unrealized Losses from Currency Translation Adjustments on Terminated Net Investment Hedges Accumulated Other Comprehensive Income (Loss) Balance as of January 1, 2020 $ (118) $ (52) $ (19) $ (189) Other comprehensive income (loss) before reclassification (15) (19) — (34) Amounts reclassified from accumulated other comprehensive income (loss) 11 — — 11 Balance as of December 31, 2020 $ (122) $ (71) $ (19) $ (212) (In millions) Pension and Other Post-Employment Benefits Foreign Currency Items Unrealized Losses from Currency Translation Adjustments on Terminated Net Investment Hedges Accumulated Other Comprehensive Income (Loss) Balance as of January 1, 2019 $ (115) $ (58) $ (19) $ (192) Other comprehensive income (loss) before reclassification (12) 6 — (6) Amounts reclassified from accumulated other comprehensive income (loss) 9 — — 9 Balance as of December 31, 2019 $ (118) $ (52) $ (19) $ (189)

Contingencies and Off-Balance S

Contingencies and Off-Balance Sheet Commitments	12 Months Ended
	Dec. 31, 2020
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 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 in the accompanying 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 an undiscounted basis and 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 December 31, 2020 and 2019, the Company's liability recorded for public liability and property damage matters is $488 million and $553 million, respectively. The Company believes that its analysis is based on the most relevant information available, combined with reasonable assumptions. The liability is subject to significant uncertainties. The adequacy of the liability 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. Loss Contingencies 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 during 2020 or the period after December 31, 2020, but before the filing of this 2020 Annual Report. Governmental Investigations - 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 were previously resolved without further action by the applicable U.S. government entities. The Company entered into a leniency agreement in August 2020 with the Brazilian authorities for a monetary sanction against a Hertz non-Debtor subsidiary and the matters under local Brazilian laws are now closed. 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 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 certain of its public disclosures 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. The complaint, as amended, was dismissed with prejudice on April 27, 2017 and on September 20, 2018, the Third Circuit affirmed the dismissal of the complaint with prejudice. On February 5, 2019, the plaintiffs filed a motion asking the federal district court to exercise its discretion and allow the plaintiffs to reinstate their claims to include additional allegations from the administrative order agreed to by the SEC and the Company in December 2018, which was supplemented by reference to the Company’s subsequently filed litigation against former executives (disclosed below). On September 30, 2019, the federal district court of New Jersey denied the plaintiffs’ motion for relief from the April 27, 2017 judgment and a related motion to allow the filing of a proposed fifth amended complaint. On October 30, 2019, the plaintiffs filed a notice of appeal with the U.S. Court of Appeals for the Third Circuit. The parties fully briefed the appeal and oral argument had been scheduled for June 19, 2020. As a result of the Company's bankruptcy, the appeal was stayed as to the Company, but the plaintiffs advocated that the appeal could proceed against the individual defendants. On October 13, 2020, the Third Circuit affirmed the District Court’s dismissal of the plaintiffs’ motion for relief against the individual defendants since the motion was not timely filed. 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 disclosed 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. Other Proceedings Litigation Against Former Executives - The Company filed litigation in federal court in New Jersey against Mark Frissora, Elyse Douglas and John Jefferey Zimmerman on March 25, 2019, and in state court in Florida against Scott Sider on March 28, 2019, all of whom were former executive officers of Old Hertz Holdings. The complaints predominantly allege breach of contract and seek repayment of incentive-based compensation received by the defendants in connection with restatements included in the Old Hertz Holdings Form 10-K for the year ended December 31, 2014 and related accounting for prior periods. The Company is also seeking recovery for the costs of the SEC investigation that resulted in an administrative order on December 31, 2018 with respect to events generally involving the restatements included in Old Hertz Holdings Form 10-K for the year ended December 31, 2014 and other damages resulting from the necessity of the restatements. The Company is pursuing these legal proceedings in accordance with its clawback policy and contractual rights. The parties are currently involved in motion practice in the New Jersey action and discovery and depositions have commenced in the Florida action. In October 2019, the Company entered into a confidential Settlement Agreement with Elyse Douglas. In September and October 2020, the judge in the New Jersey action entered orders requiring the parties and applicable insurers to attend and participate in mediation. The attorneys in the Florida action voluntarily agreed to participate in the same mediation which was held on November 30, 2020. The mediation was unsuccessful, but settlement discussions have continued. Pursuant to the agreements governing the separation of Herc Holdings from Hertz Global that occurred on June 30, 2016, Herc Holdings is entitled to 15% of the net proceeds of any repayment or recovery. 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 has accrued for expected losses that are probable and estimable.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Transactions and Agreements between Hertz Holdings and Hertz In June 2018, Hertz entered into a master loan agreement with Hertz Holdings for a facility size of $425 million with an expiration in June 2019 at an interest rate based on the U.S. Dollar LIBOR rate plus a margin (the "2018 Master Loan"). In June 2019, upon expiration of the 2018 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 2020 (the "2019 Master Loan") where amounts outstanding under the 2018 Master Loan were transferred to the 2019 Master Loan. The interest rate was based on the U.S. Dollar LIBOR rate plus a margin. As of December 31, 2019, the amount outstanding under the 2019 Master loan was $129 million, representing advances and any accrued but unpaid interest. Additionally, Hertz had a loan due to an affiliate in the amount of $65 million as of December 31, 2019, representing a tax-related liability to Hertz Holdings. The net impact of the above amounts is included in stockholder's equity in the accompanying consolidated balance sheet of Hertz as of December 31, 2019. As a result of filing the Chapter 11 Cases, as disclosed in Note 1, "Background," the full amount outstanding under the 2019 Master Loan was deemed uncollectible, resulting in a charge of $133 million during the second quarter of 2020, which is included in the accompanying consolidated statement of operations for Hertz for the year ended December 31, 2020. Additionally, the loan due to an affiliate, which represents a tax-related liability from Hertz to Hertz Holdings, in the amount of $65 million was classified as liabilities subject to compromise in the accompanying consolidated balance sheet of Hertz as of December 31, 2020. See Note 19, "Liabilities Subject to Compromise." On May 23, 2020, Hertz entered into a new master loan agreement with Hertz Holdings for a facility size of $25 million with an expiration in May 2021 (the "New Loan"). The interest rate is based on the U.S. Dollar LIBOR rate plus a margin. As of December 31, 2020, there is $1 million outstanding under the New Loan representing additional charges incurred during 2020 largely associated with the ATM Program, as disclosed in Note 17, "Equity and Earnings (Loss) Per Share - Hertz Global," paid by Hertz on behalf of Hertz Holdings. Agreements with the Icahn Group In May 2020, Carl C. Icahn, High River Limited Partnership, Hopper Investments LLC, Barberry Corp., Icahn Partners LP, Icahn Partners Master Fund LP, Icahn Enterprises G.P. Inc., Icahn Enterprises Holdings L.P., IPH GP LLC, Icahn Capital LP, Icahn Onshore LP, Icahn Offshore LP, Beckton Corp., Vincent J. Intrieri, Samuel J. Merksamer and Daniel A. Ninivaggi (collectively, the “Icahn Group”) divested all owned shares of Hertz Global common stock (the "Icahn Divestiture"). As a result of the Icahn Divestiture, the Icahn Group is no longer a related party of the Company. Subsequent to the Icahn Divestiture, there continue to be arms-length transactions between the Company and 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 five months ended May 31, 2020, the Company purchased approximately $23 million worth of goods and services from these related parties. During the years ended December 31, 2019 and 2018, the Company purchased approximately $57 million and $39 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. Other Relationships In connection with its vehicle rental businesses, the Company enters into millions of rental transactions every year involving millions of customers. In order to conduct those businesses, the Company also procures goods and services from thousands of vendors. Some of those customers and vendors may be affiliated with members of the Company's Board. The Company believes that all such rental and procurement transactions involved terms no less favorable to the Company than those that it believes would have been obtained in the absence of such affiliation. The Company's Nominating and Governance Committee oversees compliance through our Standards of Business Conduct, reviews conflicts of interest involving directors and determines whether to approve each transaction that involves the Company or any of its affiliates, on one hand, and (directly or indirectly) a director or member of his or her family or any entity managed by any such person, on the other hand. 767 Auto Leasing LLC 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. As disclosed above, due to the Icahn Divestiture, the Icahn Group is no longer a related party of the Company. Hertz leases the vehicles purchased by 767 under the 767 Lease Agreement or from third parties, under a mutually developed fleet plan and Hertz manages, services, repairs, sells and maintains those leased vehicles on behalf of 767. Hertz currently rents the leased vehicles to drivers of TNCs from rental counters within locations leased or owned by affiliates of 767 ("Icahn Locations"), including locations operated under a master lease agreement with The Pep Boys - Manny, Joe & Jack. The 767 Lease Agreement had an initial term, as extended, of approximately 22 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. ("AEPC"), an entity affiliated with the Icahn Group. During 2020, 767 distributed $75 million to AEPC and there were no cash contributions from AEPC to 767, except for certain services. During 2019, AEPC contributed $49 million to 767 along with certain services. 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 vehicle-related 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.

Equity and Earnings (Loss) Per

Equity and Earnings (Loss) Per Share - Hertz Global	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Equity and Earnings (Loss) Per Share - Hertz Global	Equity and Earnings (Loss) Per Share - Hertz Global Equity of Hertz Global Holdings, Inc. As of December 31, 2020 and 2019, there were 40 million shares of Hertz Holdings preferred stock authorized, par value $0.01 per share, 400 million shares of Hertz Holdings common stock authorized, par value $0.01 per share, and two million shares of treasury stock. Share Repurchase Program Hertz Holdings has a Board-approved share repurchase program that authorizes it to repurchase shares of its common stock through a variety of methods, including in the open market or through privately negotiated transactions, in accordance with applicable securities laws. It does not obligate Hertz Holdings to make any repurchases at any specific time or situation. There were no shares repurchased under this program in 2020 or 2019. As of December 31, 2020, Hertz Holdings has repurchased two million shares for $100 million under this program. This amount is included in treasury stock in the accompanying Hertz Global consolidated balance sheets as of December 31, 2020 and 2019, respectively. The timing and extent to which Hertz Holdings repurchases its shares will depend upon, among other things, market conditions, share price, liquidity targets and other factors. Share repurchases may be commenced or suspended at any time or from time to time without prior notice. Since Hertz Holdings does not conduct business itself, it primarily funds repurchases of its common stock using dividends from Hertz or amounts borrowed under the master loan agreement. The credit agreements governing Hertz's Senior Facilities, Letter of Credit Facility, Alternative Letter of Credit Facility and DIP Credit Agreement restrict its ability to make dividends and certain payments, including payments to Hertz Holdings for share repurchases. Earnings (Loss) Per Share Basic earnings (loss) per share has been computed based upon the weighted-average number of common shares outstanding. Diluted earnings (loss) per share has been computed based upon the weighted-average number of common shares outstanding plus the effect of all potentially dilutive common stock equivalents, except when the effect would be anti-dilutive. Rights Offering In June 2019, Hertz Global filed a prospectus supplement to its Registration Statement on Form S-3 declared effective by the SEC on June 12, 2019 for a rights offering to raise gross proceeds of approximately $750 million and providing for the issuance of up to an aggregate of 57,915,055 new shares of Hertz Global common stock. Upon closing in July 2019, the Rights Offering was fully subscribed resulting in Hertz Global selling 57,915,055 shares of its common stock for gross proceeds of $750 million. Basic weighted-average shares outstanding and weighted-average shares used to calculate diluted earnings (loss) per share for 2018 have been adjusted retrospectively to give effect to the Rights Offering. Open Market Sale Agreement In June 2020, subsequent to approval from the Bankruptcy Court and pursuant to a prospectus supplement to the Registration Statement, Hertz Global entered into an open market sale agreement under which it may offer and sell, from time to time, shares of its common stock, par value $0.01 per share, having an aggregate offering price of up to $500 million. Prior to its suspension on June 15, 2020 and ultimate termination on June 18, 2020, Hertz Global issued 13,912,368 shares under the ATM Program for net proceeds of approximately $28 million, which is included in non-vehicle restricted cash in the accompanying consolidated balance sheet as of December 31, 2020. The following table sets forth the computation of basic and diluted earnings (loss) per share: Years Ended December 31, (In millions, except per share data) 2020 2019 2018 Numerator: Net income (loss) attributable to Hertz Global $ (1,714) $ (58) $ (225) Denominator: Basic weighted-average shares outstanding (excluding the impact of the Rights Offering) 150 84 84 Rights Offering adjustment (1) — 33 12 Basic weighted-average shares outstanding 150 117 96 Dilutive stock options, RSUs and PSUs — — — Diluted weighted-average shares outstanding 150 117 96 Antidilutive stock options, RSUs, PSUs and PSAs 2 2 1 Earnings (loss) per share: Basic earnings (loss) per share $ (11.44) $ (0.49) $ (2.35) Diluted earnings (loss) per share $ (11.44) $ (0.49) $ (2.35) (1) Reflects the impact of the Rights Offering subscription period and the weighted-average impact of the issuance of 57,915,055 shares from the Rights Offering on July 18, 2019.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s chief operating decision maker assesses performance and allocates resources based upon the financial information for the Company’s operating segments. The Company aggregates certain of its operating segments into its reportable segments. 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. 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 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; and • 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 1% of revenues and expenses of the segment. In the fourth quarter of 2020, we entered into a stock and asset purchase agreement to sell substantially all the Donlen Assets. See Note 3, "Divestitures," for further information. In addition to the above reportable segments, the Company has Corporate operations which includes general corporate assets and expenses and certain interest expense (including net interest on non-vehicle debt). Corporate includes other items necessary to reconcile the reportable segments to the Company's total amounts. Effective during the three months ended June 30, 2019, the Company changed its segment measure of profitability for its reportable segments to Adjusted EBITDA, as shown in the Adjusted EBITDA reconciliation tables below. This measure better aligns with the way the Company reviews its overall vehicle rental and leasing business and determines management incentive compensation. Prior to the three months ended June 30, 2019, the Company's segment measure of profitability was Adjusted Pre-tax Income (Loss) which included non-vehicle depreciation and amortization, non-vehicle debt interest, net and certain other items. For comparability purposes, the Company has adjusted retrospectively the 2018 segment results to reflect the new segment measure of profitability. The following tables provide significant statements of operations, balance sheets and statements of cash flow information by reportable segment for each of Hertz Global and Hertz, as well as Adjusted EBITDA, the measure used to determine segment profitability. Years Ended December 31, (In millions) 2020 2019 2018 Revenues U.S. Rental Car $ 3,656 $ 6,938 $ 6,480 International Rental Car 972 2,169 2,276 All Other Operations 630 672 748 Total Hertz Global and Hertz $ 5,258 $ 9,779 $ 9,504 Depreciation of revenue earning vehicles and lease charges U.S. Rental Car $ 1,323 $ 1,656 $ 1,678 International Rental Car 274 440 448 All Other Operations 435 469 564 Total Hertz Global and Hertz $ 2,032 $ 2,565 $ 2,690 Depreciation and amortization, non-vehicle assets U.S. Rental Car $ 179 $ 156 $ 159 International Rental Car 22 23 32 All Other Operations 10 10 10 Corporate 14 14 17 Total Hertz Global and Hertz $ 225 $ 203 $ 218 Years Ended December 31, (In millions) 2020 2019 2018 Interest expense, net U.S. Rental Car $ 253 $ 157 $ 144 International Rental Car 86 93 113 All Other Operations 40 31 27 Corporate 229 524 455 Total Hertz Global 608 805 739 Hertz interest income from loan to Hertz Global (2) (7) (7) Total - Hertz $ 606 $ 798 $ 732 Adjusted EBITDA U.S. Rental Car $ (791) $ 480 $ 226 International Rental Car (248) 147 231 All Other Operations 93 100 82 Corporate (49) (78) (106) Total Hertz Global and Hertz $ (995) $ 649 $ 433 As of December 31, (In millions) 2020 2019 Revenue earning vehicles, net U.S. Rental Car $ 4,974 $ 9,820 International Rental Car 1,088 2,319 All Other Operations (1) 1,432 1,650 Total Hertz Global and Hertz $ 7,494 $ 13,789 Property and equipment, net U.S. Rental Car $ 472 $ 541 International Rental Car 96 99 All Other Operations (2) 6 7 Corporate 98 110 Total Hertz Global and Hertz $ 672 $ 757 Total assets U.S. Rental Car $ 11,042 $ 16,459 International Rental Car 2,956 4,563 All Other Operations (3) 1,818 2,115 Corporate 1,092 1,490 Total Hertz Global (4) 16,908 24,627 Corporate - Hertz (5) (28) — Total Hertz (4) $ 16,880 $ 24,627 (1) Includes $1.4 billion of revenue earning vehicles, net classified as held for sale as of December 31, 2020 as disclosed in Note 3, "Divestitures." (2) Includes $6 million of property and equipment, net classified as held for sale as of December 31, 2020 as disclosed in Note 3, "Divestitures." (3) Includes $1.8 billion of assets classified as held for sale as of December 31, 2020 as disclosed in Note 3, "Divestitures." (4) The consolidated total assets of Hertz Global and Hertz as of December 31, 2020 and 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information. (5) Excludes net proceeds from the ATM Program of $28 million as disclosed in Note 17, "Equity and Earnings (Loss) Per Share - Hertz Global." Years Ended December 31, (In millions) 2020 2019 2018 Revenue earning vehicles and non-vehicle capital assets U.S. Rental Car: Expenditures $ (3,957) $ (9,384) $ (8,597) Proceeds from disposals 7,752 6,306 5,570 Net expenditures - Hertz Global and Hertz $ 3,795 $ (3,078) $ (3,027) International Rental Car: Expenditures $ (1,032) $ (3,401) $ (3,191) Proceeds from disposals 2,068 2,854 2,755 Net expenditures - Hertz Global and Hertz $ 1,036 $ (547) $ (436) All Other Operations: Expenditures $ (615) $ (1,043) $ (807) Proceeds from disposals 335 352 176 Net expenditures - Hertz Global and Hertz $ (280) $ (691) $ (631) Corporate: Expenditures $ (36) $ (110) $ (75) Proceeds from disposals 3 1 2 Net expenditures - Hertz Global and Hertz $ (33) $ (109) $ (73) The Company operates in the U.S. and in international countries. International operations are substantially in Europe. The operations within major geographic areas for each of Hertz Global and Hertz are summarized below: Years Ended December 31, (In millions) 2020 2019 2018 Revenues U.S. $ 4,271 $ 7,596 $ 7,211 International 987 2,183 2,293 Total Hertz Global and Hertz $ 5,258 $ 9,779 $ 9,504 As of December 31, (In millions) 2020 2019 Revenue earning vehicles, net U.S. $ 4,974 $ 11,424 International 1,088 2,365 Total Hertz Global and Hertz $ 6,062 $ 13,789 Property and equipment, net U.S. $ 570 $ 658 International 96 99 Total Hertz Global and Hertz $ 666 $ 757 As of December 31, (In millions) 2020 2019 Total assets U.S. (1) $ 13,732 $ 19,876 International (2) 3,176 4,751 Total Hertz Global 16,908 24,627 U.S. - Hertz (28) — Total Hertz $ 16,880 $ 24,627 (1) Includes $1.8 billion of assets classified as held for sale as of December 31, 2020 as disclosed in Note 3, "Divestitures." (2) Includes $48 million of assets classified as held for sale as of December 31, 2020 as disclosed in Note 3, "Divestitures." Reconciliations of Adjusted EBITDA by segment to consolidated amounts are summarized below: Hertz Global Years Ended December 31, (In millions) 2020 2019 2018 Adjusted EBITDA: U.S. Rental Car $ (791) $ 480 $ 226 International Rental Car (248) 147 231 All Other Operations 93 100 82 Total reportable segments (946) 727 539 Corporate (1) (49) (78) (106) Total Hertz Global (995) 649 433 Adjustments: Non-vehicle depreciation and amortization (225) (203) (218) Non-vehicle debt interest, net (153) (311) (291) Vehicle debt-related charges (2) (50) (38) (36) Loss on extinguishment of vehicle debt (3) (5) — (22) Restructuring and restructuring related charges (4) (64) (14) (32) Intangible and other asset impairments (5) (213) — — Information technology and finance transformation costs (6) (42) (114) (98) Reorganization items, net (7) (175) — — Pre-reorganization charges and non-debtor financing charges (8) (109) — — Other items (9) (21) 44 7 Income (loss) before income taxes $ (2,052) $ 13 $ (257) Hertz Years Ended December 31, (In millions) 2020 2019 2018 Adjusted EBITDA: U.S. Rental Car $ (791) $ 480 $ 226 International Rental Car (248) 147 231 All Other Operations 93 100 82 Total reportable segments (946) 727 539 Corporate (1) (49) (78) (106) Total Hertz (995) 649 433 Adjustments: Non-vehicle depreciation and amortization (225) (203) (218) Non-vehicle debt interest, net (151) (304) (284) Vehicle debt-related charges (2) (50) (38) (36) Loss on extinguishment of vehicle debt (3) (5) — (22) Restructuring and restructuring related charges (4) (64) (14) (32) Intangible and other asset impairments (5) (213) — — Write-off of intercompany loan (10) (133) — — Information technology and finance transformation costs (6) (42) (114) (98) Reorganization items, net (7) (175) — — Pre-reorganization charges and non-debtor financing charges (8) (109) — — Other items (9) (21) 44 7 Income (loss) before income taxes $ (2,183) $ 20 $ (250) (1) Represents other reconciling items primarily consisting of general corporate expenses, non-vehicle interest expense, as well as other business activities. (2) Represents vehicle debt-related charges relating to the amortization of deferred financing costs and debt discounts and premiums. (3) In 2020, represents a $5 million write-off of deferred financing costs resulting from the European ABS waiver agreements. 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. (4) Represents charges incurred under restructuring actions as defined in U.S. GAAP, excluding impairments and asset write-downs. See Note 11, "Restructuring," for further information. Also includes restructuring related charges such as incremental costs incurred directly supporting business transformation initiatives. In 2018, also includes consulting costs, legal fees and other expenses related to the previously disclosed accounting review and investigation. (5) In 2020, represents a $193 million impairment of technology-related intangible and other assets and a $20 million impairment of the Hertz tradename, as disclosed in Note 5, "Goodwill and Intangible Assets, Net." (6) 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. (7) In 2020, represents charges incurred associated with the filing of the Chapter 11 Cases, as disclosed in Note 20, "Reorganization Items, Net." (8) In 2020, represents charges incurred prior to the filing of the Chapter 11 Cases, as disclosed in Note 1, "Background," which are comprised of preparation charges for the reorganization, such as professional fees. Also, includes certain non-debtor financing and professional fee charges. (9) Represents miscellaneous items, including non-cash stock-based compensation charges, and amounts attributable to noncontrolling interests. In 2020, also includes $16 million associated with the Donlen Asset Sale, partially offset by $18 million for losses associated with certain vehicle damages. In 2019, also includes a $30 million gain on marketable securities and a $39 million gain on the sale of non-vehicle capital assets. In 2018, also includes a $20 million gain on marketable securities, and a $6 million legal settlement received related to an oil spill in the Gulf of Mexico in 2010. (10) In 2020, represents the write-off of the 2019 Master Loan between Hertz and Hertz Holdings, as disclosed in Note 16, "Related Party Transactions."

Liabilities Subject to Compromi

Liabilities Subject to Compromise	12 Months Ended
	Dec. 31, 2020
Liabilities Subject to Compromise [Abstract]
Liabilities Subject To Compromise	Liabilities Subject to Compromise The accompanying consolidated balance sheet as of December 31, 2020 includes amounts classified as liabilities subject to compromise, which represent Pre-petition liabilities the Company anticipates will be allowed as claims in the Chapter 11 Cases. These amounts represent the Debtors' current estimate of known or potential obligations to be resolved in connection with the Chapter 11 Cases and may differ from actual future settlement amounts. The Company will continue to evaluate these liabilities throughout the Chapter 11 process and adjust amounts as necessary. Such adjustments could be material and will be recorded in reorganization items, net in the accompanying consolidated statements of operations. The following table summarizes liabilities subject to compromise: (In millions) December 31, 2020 Accounts payable $ 267 Accrued liabilities 166 Accrued taxes, net 19 Accrued interest on debt subject to compromise 70 Debt subject to compromise (1) 4,443 Liabilities subject to compromise - Hertz Global 4,965 Due from Affiliate - Hertz (2) 65 Liabilities subject to compromise - Hertz $ 5,030 (1) See Note 6, "Debt" for details of Pre-petition, non-vehicle debt reported as liabilities subject to compromise as of December 31, 2020. (2) See Note 16, "Related Party Transactions" for details of a Pre-petition intercompany loan due to an affiliate reported as liabilities subject to compromise as of December 31, 2020.

Reorganization Items Net

Reorganization Items Net	12 Months Ended
	Dec. 31, 2020
Reorganizations [Abstract]
Reorganization Items, Net	Reorganization Items, Net The Debtors have incurred and will continue to incur costs associated with the reorganization, including professional and consulting fees. Charges associated with the Chapter 11 Cases have been recorded as reorganization items, net in the accompanying consolidated statements of operations for the year ended December 31, 2020. For the year ended December 31, 2020, the Company incurred $175 million of charges comprised primarily of professional fees, of which $102 million were paid as of December 31, 2020, and $46 million and $19 million were recorded in accrued liabilities and accounts payable, respectively, in the accompanying consolidated balance sheet as of December 31, 2020.

Condensed Combined Debtor-in-Po

Condensed Combined Debtor-in-Possession Financial Information	12 Months Ended
	Dec. 31, 2020
Guarantor and Non-Guarantor Condensed Consolidating Financial Statements Disclosure [Abstract]
Guarantor and Non-Guarantor Annual Condensed Consolidating Financial Information	Condensed Combined Debtor-in-Possession Financial Information The following financial statements represent the audited condensed combined financial statements of the Debtors. The results of the non-debtor entities are not included in these financial statements. Intercompany transactions among Debtors have been eliminated in the following financial statements. Intercompany transactions among Debtors and non-debtor entities have not been eliminated in the following financial statements. Amounts reported for Hertz Global and Hertz are substantially the same, with the exception of that related to interest expense (income) and tax provision (benefit), as well as activity associated with the master loan agreement between Hertz and Hertz Global and proceeds from the issuance of stock under the ATM Program as disclosed in the Notes to our consolidated financial statements under the caption Item 8, "Financial Statements and Supplementary Data” included in this 2020 Annual Report Note 16, "Related Party Transactions," and Note 17, "Equity and Earnings (Loss) Per Share - Hertz Global," respectively. THE DEBTORS CONDENSED COMBINED BALANCE SHEET (in millions) December 31, 2020 ASSETS Cash and cash equivalents $ 492 Restricted cash and cash equivalents 305 Total cash, cash equivalents, restricted cash and restricted cash equivalents 797 Receivables, net 388 Due from non-debtor affiliates 51,638 Prepaid expenses and other assets 183 Revenue earning vehicles, net 37 Property and equipment, net 549 Operating lease right-of-use assets 1,424 Investment in subsidiaries, net 4,527 Intangible assets, net 2,988 Goodwill 488 Assets held for sale (1) 173 Total assets $ 63,192 LIABILITIES AND EQUITY Accounts payable $ 200 Accrued liabilities 412 Accrued taxes, net 48 Debt 242 Operating lease liabilities 1,385 Self-insured liabilities 251 Deferred income taxes, net 887 Total liabilities not subject to compromise 3,425 Liabilities subject to compromise 59,637 Liabilities held for sale (1) 74 Total liabilities 63,136 Total equity attributable to the Debtors 56 Total liabilities and equity $ 63,192 (1) The assets and liabilities of Donlen as of December 31, 2020, have been classified as assets held for sale and liabilities held for sale, respectively. See Note 3, "Divestitures," for additional information. THE DEBTORS CONDENSED COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (in millions) Year Ended December 31, 2020 Total revenues $ 3,593 Expenses: Direct vehicle and operating 2,896 Depreciation of revenue earning vehicles and lease charges 2,970 Selling, general and administrative 492 Interest (income) expense, net 122 Intangible and other asset impairments 213 Other (income) expense, net (35) Reorganization items, net 175 Total expenses 6,833 Income (loss) before income taxes and equity in earnings (losses) of non-debtor entities (3,240) Income tax (provision) benefit 710 Equity in earnings (losses) of non-debtor entities 816 Net income (loss) (1,714) Total other comprehensive income (loss), net of tax (23) Comprehensive income (loss) attributable to the Debtors $ (1,737) THE DEBTORS CONDENSED COMBINED STATEMENT OF CASH FLOWS (in millions) Year Ended December 31, 2020 Net cash provided by (used in) operating activities $ (738) Cash flows from investing activities: Revenue earning vehicles expenditures (478) Proceeds from disposal of revenue earning vehicles 594 Non-vehicle capital asset expenditures (79) Proceeds from non-vehicle capital assets disposed of 48 Sales of marketable securities 74 Capital contributions to non-debtor entities (835) Return of capital from non-debtor entities 838 Loan to non-debtor entity (180) Loan repayment from non-debtor entity 189 Net cash provided by (used in) investing activities 171 Cash flows from financing activities: Proceeds from issuance of vehicle debt 321 Repayments of vehicle debt (467) Proceeds from issuance of non-vehicle debt 1,812 Repayments of non-vehicle debt (855) Proceeds from the issuance of stock, net 28 Other (2) Net cash provided by (used in) financing activities 837 Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents 1 Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period 271 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 526 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ 797

SCHEDULE I CONDENSED FINANCIAL

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT	12 Months Ended
	Dec. 31, 2020
Condensed Financial Information Disclosure [Abstract]
Schedule I Condensed Financial Information of Registrant	PARENT COMPANY BALANCE SHEETS (In millions, except par value) December 31, 2020 2019 ASSETS Restricted cash and restricted cash equivalents $ 28 $ — Prepaid expenses and other assets 1 — Investments in subsidiaries, net — 1,765 Deferred income taxes, net 5 4 Due from Hertz 65 — Total assets $ 99 $ 1,769 LIABILITIES AND STOCKHOLDERS' EQUITY Due to Hertz $ 1 $ — Investments in subsidiaries, net 42 — Total liabilities 43 — Preferred stock, $0.01 par value, no shares issued and outstanding — — Common stock, $0.01 par value, 158,235,410 and 144,153,444 shares issued, respectively and 156,206,478 and 142,124,512 shares outstanding, respectively 2 1 Additional paid-in capital 3,047 3,024 Accumulated deficit (2,681) (967) Accumulated other comprehensive income (loss) (212) (189) Equity before treasury stock 156 1,869 Treasury stock, at cost, 2,028,932 shares and 2,028,932 shares, respectively (100) (100) Total stockholders' equity 56 1,769 Total liabilities and stockholders' equity $ 99 $ 1,769 The accompanying notes are an integral part of these financial statements. PARENT COMPANY STATEMENTS OF OPERATIONS (In millions) Years Ended December 31, 2020 2019 2018 Total Revenues $ — $ — $ — Expenses: Interest expense, net 2 7 7 Write-off of intercompany loan (133) — — Total expenses (131) 7 7 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries 131 (7) (7) Income tax (provision) benefit 1 2 2 Equity in earnings (losses) of subsidiaries, net of tax (1,846) (53) (220) Net income (loss) $ (1,714) $ (58) $ (225) The accompanying notes are an integral part of these financial statements. PARENT COMPANY STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (In millions) Years Ended December 31, 2020 2019 2018 Net income (loss) $ (1,714) $ (58) $ (225) Total other comprehensive income (loss) (23) 3 (63) Total comprehensive income (loss) $ (1,737) $ (55) $ (288) The accompanying notes are an integral part of these financial statements. PARENT COMPANY STATEMENTS OF CASH FLOWS (In millions) Years Ended December 31, 2020 2019 2018 Net cash provided by (used in) operating activities $ (3) $ (7) $ (7) Cash flows from financing activities: Proceeds from loans with Hertz 5 12 9 Proceeds from Rights Offering, net — 748 — Contributions to Hertz — (750) — Proceeds from issuance of stock, net 28 — — Other (2) (3) (2) Net cash provided by (used in) financing activities 31 7 7 Net increase (decrease) in cash and cash equivalents during the period 28 — — Cash and cash equivalents at beginning of period — — — Cash and cash equivalents at end of period $ 28 $ — $ — The accompanying notes are an integral part of these financial statements. Hertz Global Holdings, Inc. ("Hertz Global" when including its subsidiaries and variable interest entities ("VIEs") and "Hertz Holdings" excluding its subsidiaries and VIEs) was incorporated in Delaware in 2015 and wholly owns Rental Car Intermediate Holdings, LLC which wholly owns The Hertz Corporation ("Hertz"), Hertz Global's primary operating company. On May 22, 2020, Hertz Global, Hertz and certain of their direct and indirect subsidiaries in the U.S. and Canada filed voluntary petitions for relief under chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. The Chapter 11 Cases are being jointly administered by the Bankruptcy Court under the caption In re The Hertz Corporation, et al., Case No. 20-11218 (MFW) . Refer to Note 1, "Background," to its Notes to the consolidated financial statements included in this 2020 Annual Report under the caption Item 8, "Financial Statements and Supplementary Data," for further information. In November 2020, Hertz Global entered into a stock and asset purchase agreement to sell substantially all of the assets and certain liabilities of Donlen. See Note 3, "Divestitures," to the Notes to its consolidated financial statements included in this 2020 Annual Report under the caption Item 8, "Financial Statements and Supplementary Data," for additional information. These condensed parent company financial statements reflect the activity of Hertz Holdings as the parent company to Hertz and have been prepared in accordance with Rule 12-04, Schedule 1 of Regulation S-X, as the restricted net assets of Hertz exceed 25% of the consolidated net assets of Hertz Holdings. This information should be read in conjunction with the consolidated financial statements of Hertz Global included in this 2020 Annual Report under the caption Item 8, "Financial Statements and Supplementary Data." For a discussion of the commitments and contingencies of Hertz Holdings, refer to the sections below included in Note 15, "Contingencies and Off-Balance Sheet Commitments," to the Notes to its consolidated financial statements included in this 2020 Annual Report under the caption Item 8, "Financial Statements and Supplementary Data." • In re Hertz Global Holdings, Inc. Securities Litigation • Litigation Against Former Executives For a discussion of Hertz Holdings transactions with Hertz under the master loan, refer to Note 16, "Related Party Transactions," to the Notes to its consolidated financial statements in this 2020 Annual Report under the caption Item 8, "Financial Statements and Supplementary Data." The amounts related to the master loan transactions are included in investments in subsidiaries in the accompanying parent-only balance sheet of Hertz Holdings for the year ended December 31, 2019. For the year ended December 31, 2020, the negative balance in investments in subsidiaries, net in the accompanying parent-only balance sheet of Hertz Holdings reflects the $42 million stockholder's deficit attributable to Hertz.

SCHEDULE II VALUATION AND QUALI

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2020
SEC Schedule, 12-09, Valuation and Qualifying Accounts [Abstract]
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES THE HERTZ CORPORATION AND SUBSIDIARIES (DEBTORS-IN-POSSESSION) (In millions) Balance at Beginning of Period Additions Charged to Expense Translation Adjustments Deductions Balance at End of Period Receivables allowances: Year Ended December 31, 2020 $ 35 $ 94 (1) $ — $ (83) (1)(2) $ 46 Year Ended December 31, 2019 27 53 — (45) (2) 35 Year Ended December 31, 2018 33 35 (1) (40) (2) 27 Tax valuation allowances: Year Ended December 31, 2020 $ 396 $ 218 $ 37 $ — $ 651 Year Ended December 31, 2019 318 75 3 — 396 Year Ended December 31, 2018 305 21 1 (9) (3) 318 (1) Activity includes allowances associated with Donlen which have been classified as held for sale as of December 31, 2020, as disclosed in Note 3, "Divestitures," to the notes to the Company's consolidated financial statements in this 2020 Annual Report under the caption Item 8, "Financial Statements and Supplementary Data." (2) Amounts written off, net of recoveries.

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Reclassifications	Reclassifications Certain prior period amounts have been reclassified to conform with current period presentation.
Principles of Consolidation	Principles of ConsolidationThe consolidated financial statements of Hertz Global include the accounts of Hertz Global, its wholly owned and majority owned U.S. and international subsidiaries, and its VIEs, as applicable. The consolidated financial statements of Hertz include the accounts of Hertz, its wholly owned and majority owned U.S. and international subsidiaries, and its VIEs, as applicable. The Company consolidates a VIE when it is deemed the primary beneficiary. 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.
Use of Estimates and Assumptions	Use of Estimates and Assumptions 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 consolidated financial statements and footnotes. Actual results could differ materially from those estimates. Significant estimates inherent in the preparation of the consolidated financial statements include depreciation of revenue earning vehicles, reserves for litigation and other contingencies, accounting for income taxes and related uncertain tax positions, pension and postretirement benefit costs, the recoverability of long-lived assets, useful lives and impairment of long-lived tangible and intangible assets including goodwill, valuation of stock-based compensation, self-insured liabilities, allowance for doubtful accounts, the retail value of loyalty points, and fair value of financial instruments, among others.
Self-insured Liabilities	Self-insured Liabilities Self-insured liabilities in the accompanying consolidated balance sheets include public liability, property damage, general liability, liability insurance supplement, personal accident insurance, and worker's compensation. These represent an estimate for both reported accident claims not yet paid, and claims incurred but not yet reported and are recorded on an undiscounted 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 and administrative costs. The adequacy of the liability 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.
Recoverability of Goodwill and Indefinite-lived Intangible Assets	Recoverability of Goodwill and Indefinite-lived Intangible Assets The Company tests the recoverability of its goodwill and indefinite-lived intangible assets by performing an impairment analysis on an annual basis, as of October 1, and at interim periods when circumstances require as a result of a triggering event. A goodwill impairment charge is calculated as the amount by which a reporting unit's carrying amount exceeds its fair value. For goodwill, fair value is determined using an income approach based on the discounted cash flows of each reporting unit. A reporting unit is an operating segment or a business one level below that operating segment (the component level) if discrete financial information is prepared and regularly reviewed by segment management. Components are aggregated into a single reporting unit when they have similar economic characteristics. The Company has four reporting units: U.S. Rental Car, Europe Rental Car, Other International Rental Car and Donlen. The fair values of the reporting units are estimated using the net present value of discounted cash flows generated by each reporting unit and incorporate various assumptions related to discount rates, growth rates, cash flow projections, tax rates and terminal value rates specific to the reporting unit to which they are applied. Discount rates are set by using the Weighted-Average Cost of Capital (“WACC”) methodology. The Company’s discounted cash flows are based upon reasonable and appropriate assumptions about the underlying business activities of the Company’s reporting units. In the impairment analysis for an indefinite-lived intangible asset, the Company compares the carrying value of the asset to its estimated fair value and recognizes an impairment charge whenever the carrying amount of the asset exceeds its estimated fair value. The estimated fair value for a tradename utilizes a relief-from-royalty income approach, which includes the Company’s revenue projections for each asset, along with assumptions for royalty rates, tax rates and WACC.
Subrogation Receivables	Subrogation Receivables The Company records receivables for vehicle damage caused while a vehicle is on rent with a customer based on billed and unbilled recoveries and represents the amount of damage the Company expects to recover. Amounts recorded are estimated using a combination of actual historical data with respect to damage expense and collections and other facts and circumstances. Subrogation receivables are recorded as a contra-expense (i.e. a credit to direct vehicle and operating expense in the accompanying consolidated statements of operations) in the period in which the expense was incurred.
Income Taxes	Income Taxes The Company recognized the effects of the TCJA enacted on December 22, 2017, which created the global intangible low-tax income ("GILTI") provision that imposes U.S. tax on certain earnings of foreign subsidiaries that are subject to foreign tax below a certain threshold. GILTI taxes are recorded in current income tax expense as incurred. In 2018 and 2019, the Company asserted indefinite reinvestment on certain of its foreign earnings. As of December 31, 2020, the Company no longer asserts permanent reinvestment of foreign earnings, due to the impact from COVID-19, as disclosed in Note 1, "Background." The Company does not anticipate that the change in its assertion will have a material impact on its cash flows during the next twelve months. Valuation Allowances The Company’s current and future provision for income taxes is impacted by the initial recognition of and changes in valuation allowances in certain jurisdictions. The Company intends to maintain these allowances until it is more likely than not that the deferred tax assets will be realized. The Company’s future provision for income taxes will include no tax benefit with respect to losses incurred in these jurisdictions. Accordingly, income taxes are impacted by changes in valuation allowances and the mix of earnings among jurisdictions. The Company evaluates the realizability of its deferred tax assets on a quarterly basis. In completing this evaluation, the Company considers all available evidence in order to determine whether, based on the weight of the evidence, a valuation allowance for its deferred tax assets is necessary. Such evidence includes the evaluation of historical cumulative earnings and losses in recent years, future reversals of deferred tax liabilities, the availability of carry forwards and the remaining period of the respective carry forward, future taxable income (exclusive of the reversal of temporary differences and carryforwards), and any applicable tax-planning strategies that are available. If, based on the weight of the evidence, it is more likely than not that all or a portion of the Company’s deferred tax assets will not be realized, a valuation allowance is recorded. If operating results improve or decline on a continual basis in a particular jurisdiction, the Company’s decision regarding the need for a valuation allowance could change resulting in either the initial recognition or reversal of a valuation allowance in that jurisdiction, which could have a significant impact on income tax expense in the period recognized and subsequent periods. In determining the provision for income taxes for financial statement purposes, the Company makes certain estimates and judgments, which affect its evaluation of the carrying value of its deferred tax assets, as well as its calculation of certain tax liabilities. Uncertain Tax Positions The calculation of the Company’s gross unrecognized tax benefits and liabilities includes uncertainties in the application of, and changes in, complex tax regulations in a multitude of jurisdictions across its global operations. The Company recognizes tax benefits and liabilities based on its estimates of whether, and the extent to which, additional taxes will be due. The Company adjusts these benefits and liabilities based on changing facts and circumstances; however, due to the complexity of these uncertainties and the impact of tax audits, the ultimate resolutions may differ significantly from the Company’s estimates.
Revenue Recognition	Revenue Recognition In February 2016, the FASB issued guidance that replaced the existing lease guidance in U.S. GAAP and in 2018 and 2019 issued amendments and updates to the new lease standard (collectively "Topic 842"). Upon adoption of Topic 842, on January 1, 2019, the Company accounts for revenue earned from vehicle rentals and rental related activities wherein an identified asset is transferred to the customer and the customer has the ability to control that asset under Topic 842. Prior to the adoption of Topic 842, the Company accounted for such revenue under Revenue from Contracts with Customers ("Topic 606"). As such, vehicle rental and rental related revenue is recognized under Topic 842 for the years ended December 31, 2020 and December 31, 2019, and under Topic 606 for the year ended December 31, 2018. The policy that follows herein is applicable under Topics 842 and 606 unless otherwise noted. The Company recognizes two types of revenue: (i) lease revenue; and (ii) revenue from contracts with customers. The Company reports revenues for taxes or non-concession fees collected from customers on behalf of governmental authorities on a net basis. 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. 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 charged 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. Upon adoption of Topic 606, each transaction that generates loyalty points results in the deferral of revenue equivalent to the retail value at the date the points are earned. 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 current retail value measured as of the date the loyalty points are earned, less an estimated amount representing loyalty points that are not expected to be redeemed (“breakage”). Breakage is reviewed on a quarterly basis and includes significant assumptions such as historical breakage trends and internal Company forecasts. 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 lease incentives under Topic 842 and variable consideration under Topic 606, 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 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. Under Topic 606 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. 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 in the accompanying consolidated statements of operations. Fleet Leasing and Fleet Management Revenue The Company's Donlen subsidiary generates revenue from various fleet leasing and fleet management services. Donlen’s operating leases for fleets have lease periods that are typically for twelve months, after which the lease converts to a month-to-month lease, allowing the vehicle to be surrendered any time thereafter. The Company's fleet leases contain a terminal rental adjustment clause ("TRAC") where, upon sale of the vehicle following the termination of the lease, a TRAC adjustment may result through which the lessee is credited or charged with the gain or loss on the vehicle's disposal. Such TRAC adjustments are considered variable charges. Fleet management services are comprised of fuel purchasing and management, preventive vehicle 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.
Cash, Restricted Cash, Cash Equivalents and Restricted Cash Equivalents	Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents Cash and cash equivalents include cash on hand and highly liquid investments with an original maturity of three months or less. The Company's cash and cash equivalents are invested in various investment grade institutional money market funds, and bank money market and interest bearing accounts. Restricted cash and restricted cash equivalents includes cash and cash equivalents that are not readily available for use in the Company's operating activities. Restricted cash and restricted cash equivalents are primarily comprised of proceeds from the disposition of vehicles pledged under the terms of vehicle debt financing arrangements and is restricted for the purchase of revenue earning vehicles and other specified uses under the vehicle debt facilities, cash utilized as credit enhancement under those arrangements, and certain cash accounts supporting regulatory reserve requirements related to the Company's self-insurance. As a result of the filing of the Chapter 11 Cases, the Company has multiple segregated bank accounts, some of which can only be accessed upon approval by the Bankruptcy Court, and cash collateral accounts for certain purposes. These funds are primarily held in demand deposit and money market accounts or in highly rated money market funds with investments primarily in government and corporate obligations. Deposits held at financial institutions may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company limits exposure relating to financial instruments by diversifying the financial instruments among various counterparties, which consist of major financial institutions.
Receivables, Net of Allowance	Receivables, Net of Allowance Receivables are stated net of allowances and primarily represent credit extended to vehicle manufacturers, customers that satisfy defined credit criteria, and amounts due from customers resulting from damage to rental vehicles. The estimate of the allowance for doubtful accounts is based on the Company's future expected losses and its judgement as to the likelihood of ultimate payment. Actual receivables are written-off against the allowance for doubtful accounts when the Company determines the balance will not be collected. Estimates for future credit memos are based on historical experience and are reflected as reductions to revenue, while bad debt expense is reflected as a component of direct vehicle and operating expense in the accompanying consolidated statements of operations.
Property and Equipment, Net	Revenue Earning Vehicles Revenue earning vehicles are stated at cost, net of related discounts and incentives from manufacturers. Holding periods typically range from six to thirty-six months. Generally, when revenue earning vehicles are acquired outside of a vehicle repurchase program, the Company estimates the period that the Company will hold the asset, primarily based on historical measures of the amount of rental activity (e.g., automobile mileage). The Company also estimates the residual value of the applicable revenue earning vehicles at the expected time of disposal, taking into consideration factors such as make, model and options, age, physical condition, mileage, sale location, time of the year and channel of disposition (e.g., auction, retail, dealer direct) and market conditions. Depreciation is recorded over the estimated holding period. 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 expected time of disposal and the estimated holding periods. Gains and losses on the sale of vehicles, including the costs associated with disposals, are included in depreciation of revenue earning vehicles and lease charges in the accompanying consolidated statements of operations. For program vehicles, the manufacturers agree to repurchase program vehicles at a specified price or guarantee the depreciation rate on the vehicles during established repurchase or auction periods, subject to, among other things, certain vehicle condition, mileage and holding period requirements. Guaranteed depreciation programs guarantee on an aggregate basis the residual value of the program vehicle upon sale according to certain parameters which include the holding period, mileage and condition of the vehicles. The Company records a provision in accumulated depreciation for excess mileage and vehicle condition, as necessary, during the holding period. Donlen's revenue earning vehicles are leased under long term agreements with its customers. These leases contain provisions whereby Donlen has a contracted residual value guaranteed by the lessee, such that it does not bear the risk of any gains or losses on the disposal of these vehicles. Donlen accounts for its lease contracts using the appropriate lease classifications. The Company continually evaluates revenue earning vehicles to determine whether events or changes in circumstances have occurred that may warrant revision of the residual value or holding period. Property and Equipment, Net The Company's property and equipment, net consists of the following: (In millions) December 31, 2020 December 31, 2019 Land, buildings and leasehold improvements $ 1,277 $ 1,271 Service vehicles, equipment and furniture and fixtures 761 798 Less: accumulated depreciation (1,372) (1,312) Total property and equipment, net $ 666 $ 757 Land is stated at cost and reviewed annually for impairment as further disclosed above in "Long-lived Assets, Including Finite-lived Intangible Assets." Property and equipment are stated at cost and are depreciated utilizing the straight-line method over the estimated useful lives of the related assets. Useful lives are as follows: Buildings 1 to 50 years Furniture and fixtures 1 to 5 years Service vehicles and equipment 1 to 25 years Leasehold improvements The lesser of the economic life or the lease term Depreciation expense for property and equipment, net for the years ended December 31, 2020, 2019 and 2018 was $129 million, $122 million and $129 million, respectively.
Long-lived Assets, Including Finite-lived Intangible Assets	Long-lived Assets, Including Finite-lived Intangible Assets Finite-lived intangible assets include concession agreements, technology, customer relationships and other intangibles. Long-lived assets and intangible assets with finite lives, including technology-related intangibles, are amortized using the straight-line method over the estimated economic lives of the assets, which range from one two
Stock-Based Compensation	Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost is to be recognized over the period during which the employee is required to provide service in exchange for the award. Forfeitures are accounted for when they occur. The Company has estimated the fair value of options issued at the date of grant using a Black-Scholes option-pricing model, which includes assumptions related to volatility, expected term, dividend yield and risk-free interest rate. The Company accounts for restricted stock unit and performance stock unit awards as equity classified awards. For restricted stock units ("RSUs") the expense is based on the grant-date fair value of the stock and the number of shares that vest, recognized over the service period. For performance stock units ("PSUs") and performance stock awards ("PSAs"), the expense is based on the grant-date fair value of the stock, recognized over a two
Fair Value Measurements	Fair Value Measurements Generally accepted accounting principles define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market or, if none exists, the most advantageous market, for the specific asset or liability at the measurement date (referred to as the "exit price"). Fair value is a market-based measurement that is determined based upon assumptions that market participants would use in pricing an asset or liability, including consideration of nonperformance risk. The Company assesses the inputs used to measure fair value using the three-tier hierarchy promulgated under U.S. GAAP. This hierarchy indicates the extent to which inputs used in measuring fair value are observable in the market. Level 1: Inputs that reflect quoted prices for identical assets or liabilities in active markets that are observable. Level 2: Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3: Inputs that are unobservable to the extent that observable inputs are not available for the asset or liability at the measurement date and include management's judgment about assumptions market participants would use in pricing the asset or liability.
Financial Instruments	Financial InstrumentsThe Company is exposed to a variety of market risks, including the effects of changes in interest rates, gasoline and diesel fuel prices and foreign currency exchange rates. The Company manages exposure to these market risks through regular operating and financing activities and, when deemed appropriate, through the use of financial instruments. Financial instruments are viewed as risk management tools and have not been used for speculative or trading purposes. In addition, financial instruments are entered into with a diversified group of major financial institutions in order to manage the Company's exposure to counterparty nonperformance on such instruments. The Company measures all financial instruments at their fair value and does not offset the derivative assets and liabilities in its accompanying consolidated balance sheets. As the Company does not have financial instruments that are designated and qualify as hedging instruments, the changes in their fair value are recognized currently in the Company's operating results.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions Assets and liabilities of international subsidiaries whose functional currency is the local currency are translated at the rate of exchange in effect on the balance sheet date; income and expenses are translated at the average exchange rates throughout the year. The related translation adjustments are reflected in accumulated other comprehensive income (loss) in the accompanying consolidated balance sheets. Foreign currency exchange rate gains and losses resulting from transactions are included in selling, general and administrative expense in the accompanying consolidated statements of operations.
Advertising	Advertising Advertising and sales promotion costs are expensed the first time the advertising or sales promotion takes place. Advertising costs are reflected as a component of selling, general and administrative expenses in the accompanying
Divestitures	Divestitures The Company classifies long-lived assets and liabilities to be disposed of as held for sale in the period in which they are available for immediate sale in their present condition and the sale is probable and expected to be completed within one year. The Company initially measures assets and liabilities held for sale at the lower of their carrying value or fair value less costs to sell and assesses their fair value quarterly until disposed. When the divestiture represents a strategic shift that has (or will have) a major effect on the Company's operations and financial results, the disposal is presented as a discontinued operation.
Recently issued accounting pronouncements	Recently Issued Accounting Pronouncements Adopted Measurement of Credit Losses on Financial Instruments In June 2016, the FASB issued guidance that sets forth a current expected credit loss impairment model for financial assets, which replaces the current incurred loss model, and issued amendments and updates to the new standard in 2018 and 2019. This model requires a financial asset (or group of financial assets), including trade receivables, measured at amortized cost to be presented at the net amount expected to be collected with an allowance for credit losses deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The Company adopted this guidance when effective, on January 1, 2020, using a modified retrospective transition method. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows. Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement In August 2018, the FASB issued guidance on a customer's accounting for implementation fees paid in a cloud computing service contract arrangement that addresses which implementation costs to capitalize as an asset and which costs to expense. Capitalized implementation fees are to be expensed over the term of the cloud computing arrangement, and the expense is required to be recognized in the same line item in the income statement as the associated hosting service expenses. The entity is also required to present the capitalized implementation fees on the balance sheet in the same line item as the prepayment for hosting service fees associated with the cloud computing arrangement. The Company adopted this guidance when effective, on January 1, 2020, using a prospective transition method. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows. The Company has hosting arrangements in connection with its Enterprise Resource Planning systems. Prior to the adoption of this guidance, the Company capitalized certain implementation costs for its hosting arrangements in intangible assets, net, in the accompanying consolidated balance sheet as of December 31, 2019. Subsequent to the adoption of this guidance on January 1, 2020, the Company records implementation fees incurred in connection with its hosting arrangements in prepaid expenses and other assets in the accompanying consolidated balance sheet as of December 31, 2020. Simplifying the Accounting for Income Taxes In December 2019, the FASB issued guidance that simplifies the accounting for income taxes by removing certain exceptions in existing guidance and improves consistency in application by clarifying and amending existing guidance. This guidance is effective for annual periods beginning after December 15, 2020, and interim periods within those annual periods. On July 1, 2020, the Company adopted this guidance early, as permitted, on a prospective basis, where adjustments as of January 1, 2020 were not material; therefore, adoption of this guidance had no material impact on the Company's financial position, results of operations or cash flows. Facilitation of the Effects of Reference Rate Reform In March 2020, the FASB issued guidance that provides optional expedients and exceptions for contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform initiatives. This guidance is effective beginning March 12, 2020 through December 31, 2022 where the transition method varies depending upon the specific expedient or exception. On December 31, 2020, the Company early adopted on a prospective basis, as permitted, the optional practical expedient for contract modification for all debt and lease agreements under Topics 470 and 842. The Company continues to work with its lenders in identifying reference rate transition options and expected timing for new rates to be implemented into existing agreements. At the time of this filing, the adoption of this guidance had no material impact on the Company's financial position, results of operations or cash flows.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2020
Accounting Policies [Abstract]
Schedule of Property, Plant and Equipment	The Company's property and equipment, net consists of the following: (In millions) December 31, 2020 December 31, 2019 Land, buildings and leasehold improvements $ 1,277 $ 1,271 Service vehicles, equipment and furniture and fixtures 761 798 Less: accumulated depreciation (1,372) (1,312) Total property and equipment, net $ 666 $ 757 The following table presents revenues from contracts with customers by reportable segment and disaggregated by product/service and type of location and customer for the year ended December 31, 2018: Year Ended December 31, 2018 (In millions) U.S. Rental Car International Rental Car All Other Operations Consolidated Vehicle rental and rental related: Airport $ 4,465 $ 1,288 $ — $ 5,753 Off airport 1,881 842 — 2,723 Total vehicle rental and rental related 6,346 2,130 — 8,476 Other: Licensee revenue 32 145 — 177 Ancillary retail vehicle sales 102 1 — 103 Fleet management — — 45 45 Total other 134 146 45 325 Total revenue from contracts with customers $ 6,480 $ 2,276 $ 45 $ 8,801
Schedule of Estimated Useful Lives of Depreciable Assets	Property and equipment are stated at cost and are depreciated utilizing the straight-line method over the estimated useful lives of the related assets. Useful lives are as follows: Buildings 1 to 50 years Furniture and fixtures 1 to 5 years Service vehicles and equipment 1 to 25 years Leasehold improvements The lesser of the economic life or the lease term

Divestitures (Tables)

Divestitures (Tables)	12 Months Ended
	Dec. 31, 2020
The Hertz Corporation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Assets Held For Sale Not Part Of Disposal Group	The major classes of assets and liabilities held for sale as of December 31, 2020 are presented below at their carrying value. (in millions) December 31, 2020 ASSETS Cash and cash equivalents $ 3 Restricted cash and cash equivalents 68 Receivables, net 207 Prepaid expenses and other assets 28 Revenue earning vehicles, net 1,432 Property and equipment, net 6 Operating lease right-of-use assets 2 Intangible assets, net 29 Goodwill 36 Total assets held for sale $ 1,811 LIABILITIES Accounts payable $ 76 Accrued liabilities 19 Accrued taxes, net 3 Vehicle debt 1,327 Operating lease liabilities 6 Total liabilities held for sale $ 1,431 Sale of Non-vehicle Capital Assets In 2019, the Company completed the sale of certain non-vehicle capital assets in its U.S. Rental Car segment (the "Non-Vehicle Asset Sale") and recognized a $39 million pre-tax gain on the sale which is included in other (income) expense, net in the accompanying consolidated statement of operations for the year ended December 31, 2019. In 2020, the Company received additional cash from the Non-Vehicle Asset Sale and recognized an additional $20 million pre-tax gain on the sale, which is included in other (income) expense, net in the accompanying consolidated statement of operations for the year ended December 31, 2020. Sale of Marketable Securities In 2020, the Company sold marketable securities for $74 million and recognized an immaterial gain on the sale in its corporate operations, which is included in other (income) expense, net in the accompanying consolidated statement of operations for the year ended December 31, 2020.

Revenue Earning Vehicles (Table

Revenue Earning Vehicles (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue Earning Vehicles [Abstract]
Components of Revenue Earning Vehicles	The components of revenue earning vehicles, net are as follows: December 31, (In millions) 2020 2019 Revenue earning vehicles $ 7,492 $ 16,626 Less accumulated depreciation (1,467) (3,159) 6,025 13,467 Revenue earning vehicles held for sale, net (1) 37 322 Revenue earning vehicles, net $ 6,062 $ 13,789 (1) Represents the carrying amount of vehicles currently placed on the Company's retail lots for sale or actively in the process of being sold through other disposition channels.

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Tables)	12 Months Ended
	Dec. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of changes in goodwill, by segment	The following summarizes the changes in the Company's goodwill, by segment: (In millions) U.S. Rental Car International Rental Car All Other Operations Total Balance as of January 1, 2020 Goodwill $ 1,029 $ 236 $ 36 $ 1,301 Accumulated impairment losses — (218) — (218) 1,029 18 36 1,083 Goodwill acquired and other changes during the period (1) — (2) (36) (38) — (2) (36) (38) Balance as of December 31, 2020 Goodwill 1,029 236 — 1,265 Accumulated impairment losses — (220) — (220) $ 1,029 $ 16 $ — $ 1,045 (1) Goodwill associated with the Company's All Other Operations segment, was classified as held for sale as of December 31, 2020, as disclosed in Note 3, "Divestitures." (In millions) U.S. Rental Car International Rental Car All Other Operations Total Balance as of January 1, 2019 Goodwill $ 1,029 $ 236 $ 36 $ 1,301 Accumulated impairment losses — (218) — (218) 1,029 18 36 1,083 Goodwill acquired and other changes during the period — — — — — — — — Balance as of December 31, 2019 Goodwill 1,029 236 36 1,301 Accumulated impairment losses — (218) — (218) $ 1,029 $ 18 $ 36 $ 1,083
Schedule of components of other intangible assets by major classes	Intangible assets, net, consisted of the following major classes: December 31, 2020 (In millions) Gross Accumulated Net Amortizable intangible assets: Customer-related $ 268 $ (268) $ — Concession rights 414 (371) 43 Technology-related intangibles (1) 359 (232) 127 Other (2) 60 (56) 4 Total 1,101 (927) 174 Indefinite-lived intangible assets: Tradenames 2,794 — 2,794 Other (3) 24 — 24 Total 2,818 — 2,818 Total intangible assets, net $ 3,919 $ (927) $ 2,992 December 31, 2019 (In millions) Gross Accumulated Net Amortizable intangible assets: Customer-related $ 333 $ (313) $ 20 Concession rights 414 (324) 90 Technology-related intangibles (1) 515 (236) 279 Other (2) 74 (64) 10 Total 1,336 (937) 399 Indefinite-lived intangible assets: Tradenames 2,814 — 2,814 Other (3) 25 — 25 Total 2,839 — 2,839 Total intangible assets, net $ 4,175 $ (937) $ 3,238 (1) Technology-related intangibles include software not yet placed into service. (2) Other amortizable intangible assets primarily include reacquired franchise rights. (3) Other indefinite-lived intangible assets primarily consist of reacquired franchise rights.
Finite-lived Intangible Assets Amortization Expense	Years Ended December 31, (In millions) 2020 2019 2018 Amortization of intangible assets $ 96 $ 81 $ 89
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table summarizes the Company's expected amortization expense based on its amortizable intangible assets as of December 31, 2020: (In millions) 2021 $ 85 2022 33 2023 24 2024 17 2025 7 After 2025 8 Total expected amortization expense $ 174

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2020
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 as of December 31, 2020 Fixed or Maturity December 31, December 31, Non-Vehicle Debt Senior Term Loan (1) Floating 6/2023 $ — $ 660 Senior RCF (1) Floating 6/2021 — — Senior Notes (1)(2) Fixed 10/2022-1/2028 — 2,700 Senior Second Priority Secured Notes (1) Fixed 6/2022 — 350 Senior Secured Superpriority Debtor-in-Possession Credit Agreement 8.53% Floating 12/2021 250 — Promissory Notes (1) Fixed 1/2028 — 27 Other Non-Vehicle Debt 7.26% Fixed Various 18 18 Unamortized Debt Issuance Costs and Net (Discount) Premium (25) (34) Total Non-Vehicle Debt Not Subject to Compromise 243 3,721 Non-Vehicle Debt Subject to Compromise Senior Term Loan 3.50% Floating 6/2023 656 — Senior RCF 3.41% Floating 6/2021 615 — Senior Notes (2) 6.11% Fixed 10/2022-1/2028 2,700 — Senior Second Priority Secured Notes 7.63% Fixed 6/2022 350 — Promissory Notes 7.00% Fixed 1/2028 27 — Alternative Letter of Credit Facility (6) 5.25% Floating 11/2023 114 — Senior RCF Letter of Credit Facility 5.50% Floating 6/2021 17 — Unamortized Debt Issuance Costs and Net (Discount) Premium (36) — Total Non-Vehicle Debt Subject to Compromise 4,443 — Vehicle Debt HVF II U.S. ABS Program HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A (3)(6) 3.39% Floating 3/2022 1,940 2,644 1,940 2,644 Facility Weighted-Average Interest Rate as of December 31, 2020 Fixed or Maturity December 31, December 31, HVF II U.S. Vehicle Medium Term Notes HVF II Series 2015-1 (3) N/A N/A N/A — 780 HVF II Series 2015-3 (3) 3.64% Fixed 9/2020 163 371 HVF II Series 2016-2 (3) 3.98% Fixed 3/2021 263 595 HVF II Series 2016-4 (3) 3.65% Fixed 7/2021 187 424 HVF II Series 2017-1 (3) 3.91% Fixed 10/2020 199 450 HVF II Series 2017-2 (3) 4.31 % Fixed 10/2022 164 350 HVF II Series 2018-1 (3) 3.86 % Fixed 2/2023 468 1,000 HVF II Series 2018-2 (3) 4.31 % Fixed 6/2021 94 200 HVF II Series 2018-3 (3) 4.62 % Fixed 7/2023 95 200 HVF II Series 2019-1 (3) 4.37 % Fixed 3/2022 330 700 HVF II Series 2019-2 (3) 3.98 % Fixed 5/2024 354 750 HVF II Series 2019-3 (3) 3.22 % Fixed 12/2024 352 800 2,669 6,620 Donlen U.S. ABS Program HFLF U.S. ABS Program HFLF Variable Funding Notes HFLF Series 2013-2 (4)(6) 6.12% Floating 1/2021-6/2022 — 286 — 286 HFLF Medium Term Notes HFLF Series 2016-1 (4) N/A N/A N/A — 34 HFLF Series 2017-1 (4) 2.94 % Both 1/2021-8/2022 — 229 HFLF Series 2018-1 (4) 2.74 % Both 1/2021-8/2022 — 462 HFLF Series 2019-1 (4) 2.31 % Both 1/2021-8/2022 — 650 — 1,375 Vehicle Debt - Other U.S. Vehicle RCF N/A N/A N/A — 146 European Vehicle Notes (5) 5.07% Fixed 10/2021-3/2023 888 810 European ABS (3) 1.60% Floating 11/2021 263 766 Hertz Canadian Securitization (3)(6) 3.67% Floating 3/2021 53 241 Donlen Canadian Securitization (3) 1.54% Floating 12/2022 — 24 Australian Securitization (3) 1.67% Floating 6/2021 97 177 New Zealand RCF 2.91% Floating 6/2021 35 50 U.K. Financing Facility 3.01% Floating 1/2021-11/2023 105 247 Other Vehicle Debt 3.52% Floating 1/2021-11/2024 37 29 1,478 2,490 Unamortized Debt Issuance Costs and Net (Discount) Premium (63) (47) Total Vehicle Debt Not Subject to Compromise 6,024 13,368 Total Debt Not Subject to Compromise $ 6,267 $ 17,089 N/A - Not applicable (1) As a result of filing the Chapter 11 Cases, certain debt was classified as liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. The weighted-average interest rate for such debt is disclosed in subsequent rows under "non-vehicle debt subject to compromise." (2) References to the "Senior Notes" include the series of Hertz's unsecured senior notes set forth in the table below which are included in liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. Outstanding principal amounts for each such series of the Senior Notes is also specified below: (In millions) Outstanding Principal Senior Notes December 31, 2020 December 31, 2019 6.250% Senior Notes due October 2022 $ 500 $ 500 5.500% Senior Notes due October 2024 800 800 7.125% Senior Notes due August 2026 500 500 6.000% Senior Notes due January 2028 900 900 $ 2,700 $ 2,700 (3) 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 originally expected 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. While HVF II remains in an amortization event, as described below, the expected maturity will deviate from its stated, contractual maturity date during amortization as payoff is based on the sale of the underlying vehicles and the pro-rata application of those proceeds across all outstanding HVF II Series of Notes in accordance with their seniority. During the amortization event, the ultimate maturity of the notes will depend upon the length of time the underlying vehicle collateral is sold or the timing of the refinancing of the notes. (4) In the case of the HFLF Medium Term Notes, such notes are repayable from cash flows derived from third-party leases comprising the underlying HFLF collateral pool. As a result of the Chapter 11 Cases and the resulting amortization events, as described below, the revolving period for all series was terminated and are amortizing monthly by an amount equal to the lease collections payable to that series and the maturity date referenced for each series of HFLF Medium Term Notes represents the date by which Hertz expects such series of notes to be repaid in full, which is based upon 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. (5) 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 ("Hertz Netherlands"), unsecured senior notes (converted from Euros to U.S. dollars at a rate of 1.22 to 1 and 1.12 to 1 as of December 31, 2020 and 2019, respectively) set forth in the table below. Outstanding principal amounts for each such series of the European Vehicle Notes is also specified below: (In millions) Outstanding Principal European Vehicle Notes December 31, 2020 December 31, 2019 4.125% Senior Notes due October 2021 $ 276 $ 251 5.500% Senior Notes due March 2023 612 559 $ 888 $ 810 (6) Includes default interest which is comprised of an increase in the contractual spread. 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 (i.e., Level 2 inputs). As of December 31, 2020 As of December 31, 2019 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value (1) Nominal Unpaid Principal Balance Aggregate Fair Value Non-Vehicle Debt (2) $ 4,747 $ 3,382 $ 3,755 $ 3,840 Vehicle Debt 6,087 6,021 13,415 13,529 Total $ 10,834 $ 9,403 $ 17,170 $ 17,369 (1) The decrease in the aggregate fair value of the Company's debt is due to the impact from COVID-19 and the filing of the Chapter 11 Cases, as disclosed in Note 1, "Background." (2) Includes Non-Vehicle Debt included in liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. See Note 6, "Debt."
Schedule of extinguishment of debt	The following table reflects the amount of losses for each respective redemption/termination: Years Ended December 31, Redemption/Termination (in millions) 2020 2019 2018 Non-Vehicle Debt: 5.875% Senior Notes due 2020 $ — $ 2 $ — 7.375% Senior Notes due 2021 — 2 — 7.625% Senior Second Priority Secured Notes due 2022 — 39 — Total Non-Vehicle Debt — 43 — Vehicle Debt: HVF II Series 2017-A — — 2 4.375% European Vehicle Notes due 2019 — — 20 European ABS 5 — — Total Vehicle Debt 5 — 22 Total Loss on Extinguishment of Debt $ 5 $ 43 $ 22
Components of maturities of debt	As of December 31, 2020, the nominal amounts of maturities of debt, including non-vehicle debt subject to compromise, for each of the years ending December 31 are as follows: (In millions) 2021 2022 2023 2024 2025 After 2025 Non-Vehicle Debt (1) $ 1,016 $ 870 $ 633 $ 801 $ — $ 1,427 Vehicle Debt (2) 1,732 2,466 1,183 706 — — Total $ 2,748 $ 3,336 $ 1,816 $ 1,507 $ — $ 1,427 (1) Includes Non-Vehicle Debt of $4.4 billion included in liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020, and as the expected maturity date is subject to the outcome of the Chapter 11 Cases, the original, legal maturity dates are reflected in this table.
Schedule of facilities available for the use of the company and its subsidiaries	The following facilities were available to the Company as of December 31, 2020 and are presented net of any outstanding letters of credit: (In millions) Remaining Availability Under Non-Vehicle Debt Senior RCF (1) $ — $ — Senior Secured Superpriority Debtor-in-Possession Credit Agreement 1,400 1,400 Letter of Credit Facility (1) — — Alternative Letter of Credit Facility (1) — — Total Non-Vehicle Debt 1,400 1,400 Vehicle Debt HVF II U.S. Vehicle Variable Funding Notes (1) — — HVIF Series 2020-1 4,000 10 European ABS 471 — Hertz Canadian Securitization (1) — — Australian Securitization 63 2 U.K. Financing Facility 44 1 New Zealand RCF 19 2 Total Vehicle Debt 4,597 15 Total $ 5,997 $ 1,415 (1) As a result of the filing of the Chapter 11 Cases, there is no longer remaining capacity or availability under these facilities, as such unused commitments were terminated.

Revenue from Contracts with C_2

Revenue from Contracts with Customers Revenue Earning Vehicles (Tables)	12 Months Ended
	Dec. 31, 2020
Revenue from Contract with Customer [Abstract]
Components of Revenue Earning Vehicles	The Company's property and equipment, net consists of the following: (In millions) December 31, 2020 December 31, 2019 Land, buildings and leasehold improvements $ 1,277 $ 1,271 Service vehicles, equipment and furniture and fixtures 761 798 Less: accumulated depreciation (1,372) (1,312) Total property and equipment, net $ 666 $ 757 The following table presents revenues from contracts with customers by reportable segment and disaggregated by product/service and type of location and customer for the year ended December 31, 2018: Year Ended December 31, 2018 (In millions) U.S. Rental Car International Rental Car All Other Operations Consolidated Vehicle rental and rental related: Airport $ 4,465 $ 1,288 $ — $ 5,753 Off airport 1,881 842 — 2,723 Total vehicle rental and rental related 6,346 2,130 — 8,476 Other: Licensee revenue 32 145 — 177 Ancillary retail vehicle sales 102 1 — 103 Fleet management — — 45 45 Total other 134 146 45 325 Total revenue from contracts with customers $ 6,480 $ 2,276 $ 45 $ 8,801

Employee Retirement Benefits (T

Employee Retirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2020
Retirement Benefits [Abstract]
Schedule of Net Funded Status	The following tables set forth the funded status and the net periodic pension cost of the Hertz Retirement Plan and other U.S. based retirement plans, other postretirement benefit plans including health care and life insurance plans covering domestic (i.e. U.S.) employees and the retirement plans for international operations (“Non-U.S.”), together with amounts included in the accompanying consolidated balance sheets and statements of operations: Pension Benefits Postretirement U.S. Non-U.S. Benefits (U.S.) (In millions) 2020 2019 2020 2019 2020 2019 Change in Benefit Obligation Benefit obligation as of January 1 $ 559 $ 516 $ 286 $ 246 $ 12 $ 12 Service cost — — 1 1 — — Interest cost 15 21 5 6 — — Plan curtailments (2) — — — — — Plan settlements (88) (33) (5) — — — Benefits paid (3) (4) (6) (5) (1) (1) Foreign currency exchange rate translation — — 17 5 — — Actuarial loss (gain) 41 59 42 33 1 1 Benefit obligation as of December 31 (1) $ 522 $ 559 $ 340 $ 286 $ 12 $ 12 Change in Plan Assets Fair value of plan assets as of January 1 $ 503 $ 452 $ 228 $ 192 $ — $ — Actual return (loss) gain on plan assets 74 84 28 29 — — Company contributions 2 4 4 5 1 1 Plan settlements (88) (33) (5) — — — Benefits paid (3) (4) (6) (5) (1) (1) Foreign currency exchange rate translation — — 9 7 — — Fair value of plan assets as of December 31 $ 488 $ 503 $ 258 $ 228 $ — $ — Funded Status of the Plan Plan assets less than benefit obligation $ (34) $ (56) $ (82) $ (58) $ (12) $ (12)
Schedule of Defined Benefit Plan, Amounts Included in Financial Statements and Assumptions Used	Pension Benefits Postretirement U.S. Non-U.S. Benefits (U.S.) ($ in millions) 2020 2019 2020 2019 2020 2019 Amounts recognized in balance sheets: Prepaid expenses and other assets $ — $ — $ 14 $ 25 $ — $ — Accrued liabilities (34) (56) (96) (83) (12) (12) Net obligation recognized in the balance sheets $ (34) $ (56) $ (82) $ (58) $ (12) $ (12) Prior service credit $ — $ — $ (2) $ (2) $ — $ — Net gain (loss) (47) (73) (93) (70) (1) 1 Accumulated other comprehensive income (loss) (47) (73) (95) (72) (1) 1 Funded/(Unfunded) accrued pension or postretirement benefit 13 17 13 14 (11) (13) Net obligation recognized in the balance sheets $ (34) $ (56) $ (82) $ (58) $ (12) $ (12) Total recognized in other comprehensive (income) loss $ (26) $ (13) $ 23 $ 13 $ 1 $ 1 Total recognized in net periodic benefit cost and other comprehensive (income) loss $ (20) $ (3) $ 25 $ 12 $ 1 $ 1 Accumulated Benefit Obligation as of December 31 (1) $ 522 $ 559 $ 338 $ 284 N/A N/A Weighted-average assumptions as of December 31 Discount rate 2.3 % 3.1 % 1.4 % 1.9 % 2.3 % 3.2 % Expected return on assets 4.5 % 4.8 % 3.0 % 3.2 % N/A N/A Average rate of increase in compensation 4.3 % 4.3 % 2.1 % 2.2 % N/A N/A Interest crediting rate 3.8 % 3.8 % N/A N/A N/A N/A Initial health care cost trend rate N/A N/A N/A N/A 5.5 % 5.8 % Ultimate health care cost trend rate N/A N/A N/A N/A 4.5 % 4.5 % Number of years to ultimate trend rate N/A N/A N/A N/A 18 19 N/A - Not applicable
Schedule of Net Benefit Costs	The following table sets forth the net periodic pension and postretirement (including health care, life insurance and auto) expense charged to net income (loss). The components of net periodic pension expense (benefit), other than service cost, are included in other (income) expense, net in the accompanying consolidated statements of operations. Pension Benefits Postretirement U.S. Non-U.S. Years Ended December 31, ($ in millions) 2020 2019 2018 2020 2019 2018 2020 2019 2018 Components of Net Periodic Pension and Postretirement Expense (Benefit) Service cost $ — $ — $ 1 $ 1 $ 1 $ 1 $ — $ — $ — Interest cost 15 21 19 5 6 7 — — 1 Expected return on plan assets (20) (22) (28) (7) (9) (11) — — — Net amortizations 2 6 1 1 1 1 — — — Settlement loss 9 5 3 2 — — — — — Net pension and postretirement expense (benefit) $ 6 $ 10 $ (4) $ 2 $ (1) $ (2) $ — $ — $ 1 Weighted-average discount rate for expense (January 1) 3.1 % 4.2 % 3.6 % 1.9 % 2.7 % 2.4 % 3.2 % 4.2 % 3.5 % Weighted-average assumed long-term rate of return on assets (January 1) 4.8 % 6.3 % 6.3 % 3.2 % 4.8 % 5.2 % N/A N/A N/A Weighted-average interest crediting rate for expense 3.8 % 3.8 % 3.8 % N/A N/A N/A N/A N/A N/A Initial health care cost trend rate N/A N/A N/A N/A N/A N/A 5.8 % 6.1 % 6.4 % Ultimate health care cost trend rate (rate to which cost trend is expected to decline) N/A N/A N/A N/A N/A N/A 4.5 % 4.5 % 4.5 % Number of years to ultimate trend rate N/A N/A N/A N/A N/A N/A 18 19 20 N/A - Not applicable
Schedule of Allocation of Plan Assets	The fair value measurements of the U.S. pension plan assets relate to common collective trusts and other pooled investment vehicles consisting of the following asset categories: (In millions) December 31, 2020 December 31, 2019 Asset Category Level 1 Level 2 Measured at NAV (1) Level 1 Level 2 Measured at NAV (1) Cash $ 6 $ — $ — $ 10 $ — $ — Short Term Investments — 28 — — 36 — Equity Funds (2) : U.S. Large Cap — 66 — — 70 — U.S. Small Cap — 11 — — 10 — International Large Cap — 36 — — 38 — International Small Cap — 7 — — 7 — International Emerging Markets — 6 9 — 8 8 Fixed Income Securities: U.S. Treasuries — 18 — — 1 — Corporate Bonds — 245 — — 247 — Government Bonds — 9 — — 24 — Municipal Bonds — 10 — — 11 — Derivatives - Interest Rate 3 — — (3) — — Derivatives - Credit — — — — 1 — Non-Investment Grade Fixed Income (2) — 34 — — 35 — Total fair value of pension plan assets $ 9 $ 470 $ 9 $ 7 $ 488 $ 8 (1) Includes certain investments where the fair value measurement utilizes the net asset value (NAV) and as such, are not classified in the fair value levels above. (2) The Level 2 investments relate to investment funds that publish daily NAV per unit. The daily NAV is available to participants in the funds and redemptions can be made daily at the current NAV. The fair value and units are determined and published, and are the basis for current transactions. The investments are not eligible for the NAV practical expedient. However, they are measured at the published NAV because the quoted NAV per unit represents the price at which the investment would be sold in a transaction between independent market participants. (In millions) December 31, 2020 December 31, 2019 Asset Category Level 1 Level 2 Measured at NAV (1) Level 1 Level 2 Measured at NAV (1) Actively Managed Multi-Asset Funds: Diversified Growth Funds (2) $ — $ 39 $ — $ — $ 42 $ — Multi Asset Credit — — 37 — — 36 Passive Equity Funds: U.K. Equities (2) — 12 — — 11 — Overseas Equities (2) — 14 — — 14 — Passive Bond Funds: Corporate Bonds — 27 — — 24 — Liability Driven Investments (2) — 98 — — 48 — Liquidity Fund 24 — — 46 — — Total fair value of pension plan assets $ 24 $ 190 $ 37 $ 46 $ 139 $ 36 (1) Includes certain investments where the fair value measurement utilizes the net asset value (NAV) and as such, are not classified in the fair value levels above. (2) The Level 2 investments relate to investment funds that publish daily NAV per unit. The daily NAV is available to participants in the funds and redemptions can be made daily at the current NAV. The fair value and units are determined and published, and are the basis for current transactions. The investments are not eligible for the NAV practical expedient. However, they are measured at the published NAV because the quoted NAV per unit represents the price at which the investment would be sold in a transaction between independent market participants.
Schedule of Expected Benefit Payments	The following table presents estimated future benefit payments: (In millions) Pension Benefits Postretirement 2021 $ 34 $ 1 2022 33 1 2023 36 1 2024 38 1 2025 40 1 After 2025 217 3 $ 398 $ 8
Schedule of Multiemployer Plans	The Company's participation in multiemployer plans is outlined in the table below. For plans that are not individually significant to the Company, the total amount of contributions is presented in the aggregate. EIN /Pension Pension FIP / (1) Contributions by Surcharge Imposed Expiration Pension Fund 2020 2019 2020 2019 2018 Western Conference of Teamsters 91-6145047 Green Green N/A $ 5 $ 8 $ 7 N/A 9/30/2021 Other Plans (2) 2 4 3 Total Contributions $ 7 $ 12 $ 10 N/A Not applicable (1) Indicates whether a Funding Improvement Plan, as required under the Code to be adopted by plans in the “yellow” zone, or a Rehabilitation Plan, as required under the Code to be adopted by plans in the “red” zone, is pending or has been implemented as of the end of the plan year that ended in 2020. (2) Included in the Other Plans are contributions to the Local 1034 Pension Fund. The amount contributed by Hertz to the Local 1034 Pension Fund was reported as being more than 5% of total contributions to the plan on the fund's Form 5500 for the year ended December 31, 2019.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2020
Share-based Payment Arrangement [Abstract]
Summary of the total compensation expense and associated recognized income tax benefits	A summary of the total compensation expense and associated income tax benefits recognized, including the cost of stock options, RSUs, PSUs, and PSAs is as follows: Years Ended December 31, (In millions) 2020 2019 2018 Compensation expense $ (2) $ 18 $ 14 Income tax benefit — (2) (3) Total $ (2) $ 16 $ 11
Schedule of valuation assumptions	The value of each option award is estimated on the grant date using a Black-Scholes option valuation model that incorporates the assumptions noted in the following table. The Company calculates the expected volatility based on the historical movement of its stock price. Grants Assumption 2020 (1) 2019 (2) 2018 Expected volatility — % 68.5 % 56.7 % Expected dividend yield — % — % — % Expected term (years) 0 7 5 Risk-free interest rate — % 1.93 % 2.57 % Weighted-average grant date fair value $ — $ 9.19 $ 8.92 (1) There were no options approved to be granted by the Company's Compensation Committee in 2020. (2) Options granted in 2019 are solely related to the incremental grants awarded as part of the Rights Offering, as disclosed in Note 17, "Equity and Earnings (Loss) Per Share - Hertz Global."
Summary of option activity under the stock incentive plan and omnibus plan	A summary of option activity as of December 31, 2020 is presented below: Options Shares Weighted Weighted- Aggregate Intrinsic Outstanding as of January 1, 2020 1,055,954 $ 28.36 4.0 $ — Granted — — — — Exercised — — — — Forfeited or Expired (956,916) 27.70 — — Outstanding as of December 31, 2020 99,038 34.76 2.3 — Exercisable as of December 31, 2020 98,194 35.35 1.4 —
Summary of non-vested options and changes during the year	A summary of non-vested option activity as of December 31, 2020 is presented below: Non-vested Weighted- Weighted-Average Non-vested as of January 1, 2020 477,438 $ 18.31 $ 9.35 Granted — — — Vested (19,664) 17.97 8.93 Forfeited (434,525) 18.34 9.39 Non-vested as of December 31, 2020 23,249 18.07 9.06
Schedule of additional information pertaining to option activity under the plans	Additional information pertaining to option activity under the plans is as follows: Years Ended December 31, (In millions) 2020 2019 2018 Aggregate intrinsic value of stock options exercised $ — $ — $ — Cash received from the exercise of stock options — — — Fair value of options that vested — 5 3 Tax benefit realized on exercise of stock options — — —
Summary of PSU and RSU activity under the omnibus plan	A summary of the PSU and PSA activity as of December 31, 2020 is presented below: Shares Weighted- Aggregate Intrinsic Outstanding as of January 1, 2020 2,247,643 $ 19.08 $ 21 Granted 1,482,197 22.18 — Vested (75,288) 20.15 — Forfeited or Expired (1,841,247) 22.05 — Outstanding as of December 31, 2020 1,813,305 16.47 2 A summary of RSU activity as of December 31, 2020 is presented below: Shares Weighted- Aggregate Intrinsic Outstanding as of January 1, 2020 1,044,269 $ 18.43 $ 16 Granted 757,294 12.18 — Vested (396,749) 19.07 — Forfeited or Expired (622,758) 14.50 — Outstanding as of December 31, 2020 782,056 15.11 1
Schedule of additional information pertaining to RSU activity	Additional information pertaining to RSU activity is as follows: Years Ended December 31, 2020 2019 2018 Total fair value of awards that vested (In millions) $ 8 $ 12 $ 5 Weighted-average grant date fair value of awards 12.18 18.66 17.40

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2020
Leases [Abstract]
Operating lease, lease income	The following table summarizes the amount of operating lease income and other income included in total revenues in the accompanying consolidated statements of operations for the years ended December 31, 2020 and 2019: (In millions) 2020 2019 Operating lease income from vehicle rentals $ 4,320 $ 8,579 Operating lease income from fleet leasing 639 674 Variable operating lease income 30 164 Revenue accounted for under Topic 842 4,989 9,417 Revenue accounted for under Topic 606 269 362 Total revenues $ 5,258 $ 9,779
Operating Lease Costs	The following table summarizes the amount of lease costs incurred by the Company: Years ended December 31, (In millions) 2020 2019 2018 Minimum fixed lease costs (1) : Short-term lease costs $ 142 $ 130 N/A Operating lease costs 527 545 N/A Total 669 675 $ 577 Variable lease costs 23 326 438 Total lease costs $ 692 $ 1,001 $ 1,015 (1) Topic 842, which was adopted on January 1, 2019, requires the Company to disclose the short-term portion of minimum fixed lease costs. For the year ended December 31, 2018, under the then existing guidance in Topic 840, the Company was only required to disclose minimum fixed costs in total. The following summarizes the weighted-average remaining lease term and weighted-average discount rate for the Company's operating leases as a lessee: December 31, 2020 Weighted-average remaining lease term (in years) 9.5 Weighted-average discount rate 10.6 %
Lessee, Operating Lease, Liability, Maturity	The following table summarizes the Company's minimum fixed lease obligations under existing agreements as a lessee, excluding variable concession obligations in excess of minimum annual guarantees and short-term leases, as of December 31, 2020: (In millions) 2021 $ 449 2022 386 2023 313 2024 248 2025 193 After 2025 1,061 Total lease payments 2,650 Interest (1,014) Operating lease liabilities at December 31, 2020 $ 1,636

Restructuring (Tables)

Restructuring (Tables)	12 Months Ended
	Dec. 31, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	The following tables summarize restructuring charges incurred under this program: (In millions) Year Ended December 31, 2020 Termination charges: Direct vehicle and operating $ 25 Selling, general and administrative 12 Total $ 37 (In millions) Year Ended December 31, 2020 Termination charges: U.S. Rental Car Segment $ 34 Corporate operations 3 Total $ 37 The tables above do not include pension-related settlement charges incurred during the year ended December 31, 2020. See Note 8, "Employee Retirement Benefits." The following table summarizes the activity affecting the restructuring accrual, which is recorded in accrued liabilities or was reclassified to liabilities subject to compromise in the accompanying consolidated balance sheet, during the year ended December 31, 2020. (In millions) Termination Balance as of December 31, 2019 $ 1 Charges incurred 37 Cash payments (29) Liabilities subject to compromise (1) (7) Other (2) Balance as of December 31, 2020 $ —

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit (Tables)	12 Months Ended
	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Schedule of components of income before income taxes	The components of income (loss) before income taxes for the Company's domestic and foreign operations were as follows: Hertz Global As of December 31, (In millions) 2020 2019 2018 Domestic $ (1,692) $ 28 $ (293) Foreign (360) (15) 36 Total income (loss) before income taxes $ (2,052) $ 13 $ (257) Hertz As of December 31, (In millions) 2020 2019 2018 Domestic $ (1,823) $ 35 $ (286) Foreign (360) (15) 36 Total income (loss) before income taxes $ (2,183) $ 20 $ (250)
Schedule of total provision for taxes on income	The total income tax provision (benefit) consists of the following: Hertz Global and Hertz As of December 31, (In millions) 2020 2019 2018 Current: Federal $ — $ — $ (3) Foreign 18 20 32 State and local 4 16 7 Total current 22 36 36 Deferred: Federal (356) 1 (66) Foreign 35 (1) 11 State and local (30) 27 (11) Total deferred (351) 27 (66) Total provision (benefit) - Hertz Global (329) 63 (30) Federal deferred tax (provision) benefit applicable to Hertz Holdings 1 2 2 Total provision (benefit) - Hertz $ (328) $ 65 $ (28)
Schedule of principal items of the U.S. and foreign net deferred tax assets and liabilities	The principal items of the U.S. and foreign net deferred tax assets and liabilities are as follows: Hertz Global and Hertz As of December 31, (In millions) 2020 2019 Deferred tax assets: Employee benefit plans $ 44 $ 44 Net operating loss carry forwards 828 2,386 Federal and state tax credit carry forwards 55 43 Accrued and prepaid expenses 124 127 Operating lease liabilities 390 410 Total deferred tax assets 1,441 3,010 Less: valuation allowance (651) (396) Total net deferred tax assets 790 2,614 Deferred tax liabilities: Depreciation on tangible assets (380) (2,518) Intangible assets (723) (738) Operating lease right-of-use assets (406) (422) Total deferred tax liabilities (1,509) (3,678) Net deferred tax liability - Hertz Global (719) (1,064) Deferred tax asset - net operating loss applicable to Hertz Holdings (5) (3) Net deferred tax liability - Hertz $ (724) $ (1,067)
Schedule of significant items in the reconciliation of the statutory and effective income tax rates	The significant items in the reconciliation of the statutory and effective income tax rates consisted of the following items in the table below. Percentages are calculated from the underlying numbers in thousands, and as a result, may not agree to the amount when calculated in millions. Hertz Global and Hertz Years Ended December 31, 2020 2019 2018 Statutory federal tax rate 21 % 21 % 21 % Foreign tax rate differential — (31) (1) State and local income taxes, net of federal income tax benefit 5 (102) 7 Change in state apportionment and statutory rates, net of federal income tax benefit 1 (17) 1 Tax reform — — (9) Federal and foreign permanent differences — (3) — Withholding taxes — 62 (3) Uncertain tax positions — 29 (3) Change in valuation allowance (11) 591 (5) Change in foreign statutory rates — 15 (3) Tax credits — (75) 7 Stock option shortfalls — 7 (1) All other items, net — 3 1 Effective tax rate - Hertz Global 16 500 12 All other items, net rate impact applicable to Hertz Holdings (1) (174) (1) Effective tax rate - Hertz 15 % 326 % 11 %
Schedule of a reconciliation of the beginning and ending amount of unrecognized tax benefits	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: Hertz Global and Hertz Years Ended December 31, (In millions) 2020 2019 2018 Balance as of January 1 $ 48 $ 49 $ 43 Increase (decrease) attributable to tax positions taken during prior periods 5 5 3 Increase (decrease) attributable to tax positions taken during the current year 1 1 5 Decrease attributable to settlements with taxing authorities (1) (7) (2) Balance as of December 31 $ 53 $ 48 $ 49

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2020
Fair Value Disclosures [Abstract]
Company's Cash Equivalents and Investments	The following table summarizes the ending balances of the Company's cash equivalents, restricted cash equivalents and investments: December 31, 2020 December 31, 2019 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash equivalents $ 723 $ — $ — $ 723 $ 531 $ — $ — $ 531 Marketable securities — — — — 74 — — 74
Components of Debt	The Company's debt, including its available credit facilities, consists of the following ($ in millions): Facility Weighted-Average Interest Rate as of December 31, 2020 Fixed or Maturity December 31, December 31, Non-Vehicle Debt Senior Term Loan (1) Floating 6/2023 $ — $ 660 Senior RCF (1) Floating 6/2021 — — Senior Notes (1)(2) Fixed 10/2022-1/2028 — 2,700 Senior Second Priority Secured Notes (1) Fixed 6/2022 — 350 Senior Secured Superpriority Debtor-in-Possession Credit Agreement 8.53% Floating 12/2021 250 — Promissory Notes (1) Fixed 1/2028 — 27 Other Non-Vehicle Debt 7.26% Fixed Various 18 18 Unamortized Debt Issuance Costs and Net (Discount) Premium (25) (34) Total Non-Vehicle Debt Not Subject to Compromise 243 3,721 Non-Vehicle Debt Subject to Compromise Senior Term Loan 3.50% Floating 6/2023 656 — Senior RCF 3.41% Floating 6/2021 615 — Senior Notes (2) 6.11% Fixed 10/2022-1/2028 2,700 — Senior Second Priority Secured Notes 7.63% Fixed 6/2022 350 — Promissory Notes 7.00% Fixed 1/2028 27 — Alternative Letter of Credit Facility (6) 5.25% Floating 11/2023 114 — Senior RCF Letter of Credit Facility 5.50% Floating 6/2021 17 — Unamortized Debt Issuance Costs and Net (Discount) Premium (36) — Total Non-Vehicle Debt Subject to Compromise 4,443 — Vehicle Debt HVF II U.S. ABS Program HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A (3)(6) 3.39% Floating 3/2022 1,940 2,644 1,940 2,644 Facility Weighted-Average Interest Rate as of December 31, 2020 Fixed or Maturity December 31, December 31, HVF II U.S. Vehicle Medium Term Notes HVF II Series 2015-1 (3) N/A N/A N/A — 780 HVF II Series 2015-3 (3) 3.64% Fixed 9/2020 163 371 HVF II Series 2016-2 (3) 3.98% Fixed 3/2021 263 595 HVF II Series 2016-4 (3) 3.65% Fixed 7/2021 187 424 HVF II Series 2017-1 (3) 3.91% Fixed 10/2020 199 450 HVF II Series 2017-2 (3) 4.31 % Fixed 10/2022 164 350 HVF II Series 2018-1 (3) 3.86 % Fixed 2/2023 468 1,000 HVF II Series 2018-2 (3) 4.31 % Fixed 6/2021 94 200 HVF II Series 2018-3 (3) 4.62 % Fixed 7/2023 95 200 HVF II Series 2019-1 (3) 4.37 % Fixed 3/2022 330 700 HVF II Series 2019-2 (3) 3.98 % Fixed 5/2024 354 750 HVF II Series 2019-3 (3) 3.22 % Fixed 12/2024 352 800 2,669 6,620 Donlen U.S. ABS Program HFLF U.S. ABS Program HFLF Variable Funding Notes HFLF Series 2013-2 (4)(6) 6.12% Floating 1/2021-6/2022 — 286 — 286 HFLF Medium Term Notes HFLF Series 2016-1 (4) N/A N/A N/A — 34 HFLF Series 2017-1 (4) 2.94 % Both 1/2021-8/2022 — 229 HFLF Series 2018-1 (4) 2.74 % Both 1/2021-8/2022 — 462 HFLF Series 2019-1 (4) 2.31 % Both 1/2021-8/2022 — 650 — 1,375 Vehicle Debt - Other U.S. Vehicle RCF N/A N/A N/A — 146 European Vehicle Notes (5) 5.07% Fixed 10/2021-3/2023 888 810 European ABS (3) 1.60% Floating 11/2021 263 766 Hertz Canadian Securitization (3)(6) 3.67% Floating 3/2021 53 241 Donlen Canadian Securitization (3) 1.54% Floating 12/2022 — 24 Australian Securitization (3) 1.67% Floating 6/2021 97 177 New Zealand RCF 2.91% Floating 6/2021 35 50 U.K. Financing Facility 3.01% Floating 1/2021-11/2023 105 247 Other Vehicle Debt 3.52% Floating 1/2021-11/2024 37 29 1,478 2,490 Unamortized Debt Issuance Costs and Net (Discount) Premium (63) (47) Total Vehicle Debt Not Subject to Compromise 6,024 13,368 Total Debt Not Subject to Compromise $ 6,267 $ 17,089 N/A - Not applicable (1) As a result of filing the Chapter 11 Cases, certain debt was classified as liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. The weighted-average interest rate for such debt is disclosed in subsequent rows under "non-vehicle debt subject to compromise." (2) References to the "Senior Notes" include the series of Hertz's unsecured senior notes set forth in the table below which are included in liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. Outstanding principal amounts for each such series of the Senior Notes is also specified below: (In millions) Outstanding Principal Senior Notes December 31, 2020 December 31, 2019 6.250% Senior Notes due October 2022 $ 500 $ 500 5.500% Senior Notes due October 2024 800 800 7.125% Senior Notes due August 2026 500 500 6.000% Senior Notes due January 2028 900 900 $ 2,700 $ 2,700 (3) 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 originally expected 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. While HVF II remains in an amortization event, as described below, the expected maturity will deviate from its stated, contractual maturity date during amortization as payoff is based on the sale of the underlying vehicles and the pro-rata application of those proceeds across all outstanding HVF II Series of Notes in accordance with their seniority. During the amortization event, the ultimate maturity of the notes will depend upon the length of time the underlying vehicle collateral is sold or the timing of the refinancing of the notes. (4) In the case of the HFLF Medium Term Notes, such notes are repayable from cash flows derived from third-party leases comprising the underlying HFLF collateral pool. As a result of the Chapter 11 Cases and the resulting amortization events, as described below, the revolving period for all series was terminated and are amortizing monthly by an amount equal to the lease collections payable to that series and the maturity date referenced for each series of HFLF Medium Term Notes represents the date by which Hertz expects such series of notes to be repaid in full, which is based upon 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. (5) 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 ("Hertz Netherlands"), unsecured senior notes (converted from Euros to U.S. dollars at a rate of 1.22 to 1 and 1.12 to 1 as of December 31, 2020 and 2019, respectively) set forth in the table below. Outstanding principal amounts for each such series of the European Vehicle Notes is also specified below: (In millions) Outstanding Principal European Vehicle Notes December 31, 2020 December 31, 2019 4.125% Senior Notes due October 2021 $ 276 $ 251 5.500% Senior Notes due March 2023 612 559 $ 888 $ 810 (6) Includes default interest which is comprised of an increase in the contractual spread. 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 (i.e., Level 2 inputs). As of December 31, 2020 As of December 31, 2019 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value (1) Nominal Unpaid Principal Balance Aggregate Fair Value Non-Vehicle Debt (2) $ 4,747 $ 3,382 $ 3,755 $ 3,840 Vehicle Debt 6,087 6,021 13,415 13,529 Total $ 10,834 $ 9,403 $ 17,170 $ 17,369 (1) The decrease in the aggregate fair value of the Company's debt is due to the impact from COVID-19 and the filing of the Chapter 11 Cases, as disclosed in Note 1, "Background." (2) Includes Non-Vehicle Debt included in liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. See Note 6, "Debt."

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2020
Accumulated Other Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in the accumulated other comprehensive income (loss) balance by component (net of tax) are as follows: (In millions) Pension and Other Post-Employment Benefits Foreign Currency Items Unrealized Losses from Currency Translation Adjustments on Terminated Net Investment Hedges Accumulated Other Comprehensive Income (Loss) Balance as of January 1, 2020 $ (118) $ (52) $ (19) $ (189) Other comprehensive income (loss) before reclassification (15) (19) — (34) Amounts reclassified from accumulated other comprehensive income (loss) 11 — — 11 Balance as of December 31, 2020 $ (122) $ (71) $ (19) $ (212) (In millions) Pension and Other Post-Employment Benefits Foreign Currency Items Unrealized Losses from Currency Translation Adjustments on Terminated Net Investment Hedges Accumulated Other Comprehensive Income (Loss) Balance as of January 1, 2019 $ (115) $ (58) $ (19) $ (192) Other comprehensive income (loss) before reclassification (12) 6 — (6) Amounts reclassified from accumulated other comprehensive income (loss) 9 — — 9 Balance as of December 31, 2019 $ (118) $ (52) $ (19) $ (189)

Equity and Earnings (Loss) Pe_2

Equity and Earnings (Loss) Per Share - Hertz Global (Tables)	12 Months Ended
	Dec. 31, 2020
Earnings Per Share [Abstract]
Computation of basic and diluted earnings (loss) per share	The following table sets forth the computation of basic and diluted earnings (loss) per share: Years Ended December 31, (In millions, except per share data) 2020 2019 2018 Numerator: Net income (loss) attributable to Hertz Global $ (1,714) $ (58) $ (225) Denominator: Basic weighted-average shares outstanding (excluding the impact of the Rights Offering) 150 84 84 Rights Offering adjustment (1) — 33 12 Basic weighted-average shares outstanding 150 117 96 Dilutive stock options, RSUs and PSUs — — — Diluted weighted-average shares outstanding 150 117 96 Antidilutive stock options, RSUs, PSUs and PSAs 2 2 1 Earnings (loss) per share: Basic earnings (loss) per share $ (11.44) $ (0.49) $ (2.35) Diluted earnings (loss) per share $ (11.44) $ (0.49) $ (2.35) (1) Reflects the impact of the Rights Offering subscription period and the weighted-average impact of the issuance of 57,915,055 shares from the Rights Offering on July 18, 2019.

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2020
Segment Reporting [Abstract]
Summary of contribution of reportable segments to revenues and adjusted pre-tax income and the reconciliation to consolidated amounts	The following tables provide significant statements of operations, balance sheets and statements of cash flow information by reportable segment for each of Hertz Global and Hertz, as well as Adjusted EBITDA, the measure used to determine segment profitability. Years Ended December 31, (In millions) 2020 2019 2018 Revenues U.S. Rental Car $ 3,656 $ 6,938 $ 6,480 International Rental Car 972 2,169 2,276 All Other Operations 630 672 748 Total Hertz Global and Hertz $ 5,258 $ 9,779 $ 9,504 Depreciation of revenue earning vehicles and lease charges U.S. Rental Car $ 1,323 $ 1,656 $ 1,678 International Rental Car 274 440 448 All Other Operations 435 469 564 Total Hertz Global and Hertz $ 2,032 $ 2,565 $ 2,690 Depreciation and amortization, non-vehicle assets U.S. Rental Car $ 179 $ 156 $ 159 International Rental Car 22 23 32 All Other Operations 10 10 10 Corporate 14 14 17 Total Hertz Global and Hertz $ 225 $ 203 $ 218 Years Ended December 31, (In millions) 2020 2019 2018 Interest expense, net U.S. Rental Car $ 253 $ 157 $ 144 International Rental Car 86 93 113 All Other Operations 40 31 27 Corporate 229 524 455 Total Hertz Global 608 805 739 Hertz interest income from loan to Hertz Global (2) (7) (7) Total - Hertz $ 606 $ 798 $ 732 Adjusted EBITDA U.S. Rental Car $ (791) $ 480 $ 226 International Rental Car (248) 147 231 All Other Operations 93 100 82 Corporate (49) (78) (106) Total Hertz Global and Hertz $ (995) $ 649 $ 433 As of December 31, (In millions) 2020 2019 Revenue earning vehicles, net U.S. Rental Car $ 4,974 $ 9,820 International Rental Car 1,088 2,319 All Other Operations (1) 1,432 1,650 Total Hertz Global and Hertz $ 7,494 $ 13,789 Property and equipment, net U.S. Rental Car $ 472 $ 541 International Rental Car 96 99 All Other Operations (2) 6 7 Corporate 98 110 Total Hertz Global and Hertz $ 672 $ 757 Total assets U.S. Rental Car $ 11,042 $ 16,459 International Rental Car 2,956 4,563 All Other Operations (3) 1,818 2,115 Corporate 1,092 1,490 Total Hertz Global (4) 16,908 24,627 Corporate - Hertz (5) (28) — Total Hertz (4) $ 16,880 $ 24,627 (1) Includes $1.4 billion of revenue earning vehicles, net classified as held for sale as of December 31, 2020 as disclosed in Note 3, "Divestitures." (2) Includes $6 million of property and equipment, net classified as held for sale as of December 31, 2020 as disclosed in Note 3, "Divestitures." (3) Includes $1.8 billion of assets classified as held for sale as of December 31, 2020 as disclosed in Note 3, "Divestitures." (4) The consolidated total assets of Hertz Global and Hertz as of December 31, 2020 and 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information. (5) Excludes net proceeds from the ATM Program of $28 million as disclosed in Note 17, "Equity and Earnings (Loss) Per Share - Hertz Global." Years Ended December 31, (In millions) 2020 2019 2018 Revenue earning vehicles and non-vehicle capital assets U.S. Rental Car: Expenditures $ (3,957) $ (9,384) $ (8,597) Proceeds from disposals 7,752 6,306 5,570 Net expenditures - Hertz Global and Hertz $ 3,795 $ (3,078) $ (3,027) International Rental Car: Expenditures $ (1,032) $ (3,401) $ (3,191) Proceeds from disposals 2,068 2,854 2,755 Net expenditures - Hertz Global and Hertz $ 1,036 $ (547) $ (436) All Other Operations: Expenditures $ (615) $ (1,043) $ (807) Proceeds from disposals 335 352 176 Net expenditures - Hertz Global and Hertz $ (280) $ (691) $ (631) Corporate: Expenditures $ (36) $ (110) $ (75) Proceeds from disposals 3 1 2 Net expenditures - Hertz Global and Hertz $ (33) $ (109) $ (73) The Company operates in the U.S. and in international countries. International operations are substantially in Europe. The operations within major geographic areas for each of Hertz Global and Hertz are summarized below: Years Ended December 31, (In millions) 2020 2019 2018 Revenues U.S. $ 4,271 $ 7,596 $ 7,211 International 987 2,183 2,293 Total Hertz Global and Hertz $ 5,258 $ 9,779 $ 9,504 As of December 31, (In millions) 2020 2019 Revenue earning vehicles, net U.S. $ 4,974 $ 11,424 International 1,088 2,365 Total Hertz Global and Hertz $ 6,062 $ 13,789 Property and equipment, net U.S. $ 570 $ 658 International 96 99 Total Hertz Global and Hertz $ 666 $ 757 As of December 31, (In millions) 2020 2019 Total assets U.S. (1) $ 13,732 $ 19,876 International (2) 3,176 4,751 Total Hertz Global 16,908 24,627 U.S. - Hertz (28) — Total Hertz $ 16,880 $ 24,627 (1) Includes $1.8 billion of assets classified as held for sale as of December 31, 2020 as disclosed in Note 3, "Divestitures." (2) Includes $48 million of assets classified as held for sale as of December 31, 2020 as disclosed in Note 3, "Divestitures." Reconciliations of Adjusted EBITDA by segment to consolidated amounts are summarized below: Hertz Global Years Ended December 31, (In millions) 2020 2019 2018 Adjusted EBITDA: U.S. Rental Car $ (791) $ 480 $ 226 International Rental Car (248) 147 231 All Other Operations 93 100 82 Total reportable segments (946) 727 539 Corporate (1) (49) (78) (106) Total Hertz Global (995) 649 433 Adjustments: Non-vehicle depreciation and amortization (225) (203) (218) Non-vehicle debt interest, net (153) (311) (291) Vehicle debt-related charges (2) (50) (38) (36) Loss on extinguishment of vehicle debt (3) (5) — (22) Restructuring and restructuring related charges (4) (64) (14) (32) Intangible and other asset impairments (5) (213) — — Information technology and finance transformation costs (6) (42) (114) (98) Reorganization items, net (7) (175) — — Pre-reorganization charges and non-debtor financing charges (8) (109) — — Other items (9) (21) 44 7 Income (loss) before income taxes $ (2,052) $ 13 $ (257) Hertz Years Ended December 31, (In millions) 2020 2019 2018 Adjusted EBITDA: U.S. Rental Car $ (791) $ 480 $ 226 International Rental Car (248) 147 231 All Other Operations 93 100 82 Total reportable segments (946) 727 539 Corporate (1) (49) (78) (106) Total Hertz (995) 649 433 Adjustments: Non-vehicle depreciation and amortization (225) (203) (218) Non-vehicle debt interest, net (151) (304) (284) Vehicle debt-related charges (2) (50) (38) (36) Loss on extinguishment of vehicle debt (3) (5) — (22) Restructuring and restructuring related charges (4) (64) (14) (32) Intangible and other asset impairments (5) (213) — — Write-off of intercompany loan (10) (133) — — Information technology and finance transformation costs (6) (42) (114) (98) Reorganization items, net (7) (175) — — Pre-reorganization charges and non-debtor financing charges (8) (109) — — Other items (9) (21) 44 7 Income (loss) before income taxes $ (2,183) $ 20 $ (250) (1) Represents other reconciling items primarily consisting of general corporate expenses, non-vehicle interest expense, as well as other business activities. (2) Represents vehicle debt-related charges relating to the amortization of deferred financing costs and debt discounts and premiums. (3) In 2020, represents a $5 million write-off of deferred financing costs resulting from the European ABS waiver agreements. 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. (4) Represents charges incurred under restructuring actions as defined in U.S. GAAP, excluding impairments and asset write-downs. See Note 11, "Restructuring," for further information. Also includes restructuring related charges such as incremental costs incurred directly supporting business transformation initiatives. In 2018, also includes consulting costs, legal fees and other expenses related to the previously disclosed accounting review and investigation. (5) In 2020, represents a $193 million impairment of technology-related intangible and other assets and a $20 million impairment of the Hertz tradename, as disclosed in Note 5, "Goodwill and Intangible Assets, Net." (6) 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. (7) In 2020, represents charges incurred associated with the filing of the Chapter 11 Cases, as disclosed in Note 20, "Reorganization Items, Net." (8) In 2020, represents charges incurred prior to the filing of the Chapter 11 Cases, as disclosed in Note 1, "Background," which are comprised of preparation charges for the reorganization, such as professional fees. Also, includes certain non-debtor financing and professional fee charges. (9) Represents miscellaneous items, including non-cash stock-based compensation charges, and amounts attributable to noncontrolling interests. In 2020, also includes $16 million associated with the Donlen Asset Sale, partially offset by $18 million for losses associated with certain vehicle damages. In 2019, also includes a $30 million gain on marketable securities and a $39 million gain on the sale of non-vehicle capital assets. In 2018, also includes a $20 million gain on marketable securities, and a $6 million legal settlement received related to an oil spill in the Gulf of Mexico in 2010. (10) In 2020, represents the write-off of the 2019 Master Loan between Hertz and Hertz Holdings, as disclosed in Note 16, "Related Party Transactions."

Liabilities Subject to Compro_2

Liabilities Subject to Compromise (Tables)	12 Months Ended
	Dec. 31, 2020
Liabilities Subject to Compromise [Abstract]
Schedule Of Liabilities Subject To Compromise	The following table summarizes liabilities subject to compromise: (In millions) December 31, 2020 Accounts payable $ 267 Accrued liabilities 166 Accrued taxes, net 19 Accrued interest on debt subject to compromise 70 Debt subject to compromise (1) 4,443 Liabilities subject to compromise - Hertz Global 4,965 Due from Affiliate - Hertz (2) 65 Liabilities subject to compromise - Hertz $ 5,030 (1) See Note 6, "Debt" for details of Pre-petition, non-vehicle debt reported as liabilities subject to compromise as of December 31, 2020. (2) See Note 16, "Related Party Transactions" for details of a Pre-petition intercompany loan due to an affiliate reported as liabilities subject to compromise as of December 31, 2020.

Condensed Combined Debtor-in-_2

Condensed Combined Debtor-in-Possession Financial Information (Tables)	12 Months Ended
	Dec. 31, 2020
Guarantor and Non-Guarantor Condensed Consolidating Financial Statements Disclosure [Abstract]
Condensed Balance Sheet	THE DEBTORS CONDENSED COMBINED BALANCE SHEET (in millions) December 31, 2020 ASSETS Cash and cash equivalents $ 492 Restricted cash and cash equivalents 305 Total cash, cash equivalents, restricted cash and restricted cash equivalents 797 Receivables, net 388 Due from non-debtor affiliates 51,638 Prepaid expenses and other assets 183 Revenue earning vehicles, net 37 Property and equipment, net 549 Operating lease right-of-use assets 1,424 Investment in subsidiaries, net 4,527 Intangible assets, net 2,988 Goodwill 488 Assets held for sale (1) 173 Total assets $ 63,192 LIABILITIES AND EQUITY Accounts payable $ 200 Accrued liabilities 412 Accrued taxes, net 48 Debt 242 Operating lease liabilities 1,385 Self-insured liabilities 251 Deferred income taxes, net 887 Total liabilities not subject to compromise 3,425 Liabilities subject to compromise 59,637 Liabilities held for sale (1) 74 Total liabilities 63,136 Total equity attributable to the Debtors 56 Total liabilities and equity $ 63,192 (1) The assets and liabilities of Donlen as of December 31, 2020, have been classified as assets held for sale and liabilities held for sale, respectively. See Note 3, "Divestitures," for additional information.
Condensed Income Statement	THE DEBTORS CONDENSED COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (in millions) Year Ended December 31, 2020 Total revenues $ 3,593 Expenses: Direct vehicle and operating 2,896 Depreciation of revenue earning vehicles and lease charges 2,970 Selling, general and administrative 492 Interest (income) expense, net 122 Intangible and other asset impairments 213 Other (income) expense, net (35) Reorganization items, net 175 Total expenses 6,833 Income (loss) before income taxes and equity in earnings (losses) of non-debtor entities (3,240) Income tax (provision) benefit 710 Equity in earnings (losses) of non-debtor entities 816 Net income (loss) (1,714) Total other comprehensive income (loss), net of tax (23) Comprehensive income (loss) attributable to the Debtors $ (1,737)
Condensed Cash Flow Statement	THE DEBTORS CONDENSED COMBINED STATEMENT OF CASH FLOWS (in millions) Year Ended December 31, 2020 Net cash provided by (used in) operating activities $ (738) Cash flows from investing activities: Revenue earning vehicles expenditures (478) Proceeds from disposal of revenue earning vehicles 594 Non-vehicle capital asset expenditures (79) Proceeds from non-vehicle capital assets disposed of 48 Sales of marketable securities 74 Capital contributions to non-debtor entities (835) Return of capital from non-debtor entities 838 Loan to non-debtor entity (180) Loan repayment from non-debtor entity 189 Net cash provided by (used in) investing activities 171 Cash flows from financing activities: Proceeds from issuance of vehicle debt 321 Repayments of vehicle debt (467) Proceeds from issuance of non-vehicle debt 1,812 Repayments of non-vehicle debt (855) Proceeds from the issuance of stock, net 28 Other (2) Net cash provided by (used in) financing activities 837 Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents 1 Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period 271 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 526 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ 797

Background (Details)

Background (Details) $ in Millions, $ in Millions

Jan. 20, 2021USD ($)vehiclepayment

Jan. 31, 2020employee

Dec. 31, 2020USD ($)vehicle

Dec. 31, 2020USD ($)leaseclaimvehicle

Jan. 28, 2021CAD ($)

Jan. 13, 2021CAD ($)

Nov. 24, 2020USD ($)

Oct. 29, 2020USD ($)

Oct. 15, 2020USD ($)

Jul. 24, 2020USD ($)employee

May 05, 2020USD ($)

Mar. 04, 2020

Feb. 29, 2020USD ($)

Dec. 31, 2019USD ($)

Debt Instrument

Forbearance and waiver agreement payment

$ 30

Payments under bankruptcy court order for operating lease

$ 650

Number of payments under bankruptcy court order for operating lease | employee

6

Monthly payments under bankruptcy court order for operating lease

$ 108

Number of vehicles required to be disposed of under bankruptcy court order | vehicle

182,521

182,521

Number of vehicles disposed under bankruptcy court order, actual | vehicle

198,000

Off airport leases rejected | lease

359

Airport leases rejected | lease

66

Number of proofs of claims filed | claim

14,600

Number of proofs of claims filed, amount

$ 104,500

Outstanding principal

$ 2,700

2,700

$ 200

$ 2,700

Cash and cash equivalents

1,096

1,096

865

Financing arrangement, liquidity

2,200

2,200

DIP Credit Agreement

Debt Instrument

Liquidity maintenance test

275

275

Subsequent Event

Debt Instrument

Payments under bankruptcy court order for operating lease

$ 756

Number of payments under bankruptcy court order for operating lease | payment

9

Monthly payments under bankruptcy court order for operating lease

$ 84

Number of vehicles required to be disposed of under bankruptcy court order | vehicle

157,262

Minimum cumulative vehicle disposition proceeds amount

$ 2,000

Vehicle | Subsequent Event

Debt Instrument

Number of vehicles required to be disposed of under bankruptcy court order | vehicle

121,510

Non-vehicle

Debt Instrument

Outstanding principal

243

243

$ 3,721

Non-vehicle | Subsequent Event

Debt Instrument

Number of vehicles required to be disposed of under bankruptcy court order | vehicle

113,381

HVF II Series 2013-A Notes

Debt Instrument

Forbearance agreement, aggregate principal amount of notes, percent

77.00%

Outstanding principal

$ 4,900

D F L F Series20201 Notes | Vehicle

Debt Instrument

Outstanding principal

400

400

Funding LP Series 2021-A | Subsequent Event | Revolving Credit Facility

Debt Instrument

Aggregate maximum borrowings

$ 350

Outstanding obligations amount

$ 120

Debtor In Possession Credit Agreement

Debt Instrument

DIP credit agreement, amount

$ 1,650

DIP credit agreement, minimum draw amount

$ 250

Debtor In Possession Credit Agreement | London Interbank Offered Rate (LIBOR)

Debt Instrument

DIP credit agreement, interest rate (percent)

7.25%

DIP credit agreement, interest rate floor (percent)

0.0100

Debtor In Possession Credit Agreement | Vehicle

Debt Instrument

DIP credit agreement, amount

$ 1,100

1,100

$ 1,000

Debtor In Possession Credit Agreement | Vehicle | Subsequent Event

Debt Instrument

DIP credit agreement, amount

$ 400

Debtor In Possession Credit Agreement | Non-vehicle

Debt Instrument

DIP credit agreement, amount

$ 800

Secured Fleet Financing | Vehicle

Debt Instrument

DIP credit agreement, amount

$ 4,000

U. S. Car Rental

Debt Instrument

Decrease in purchase commitments

$ 4,000

Restructuring Plan Impact of C O V I D19 | U.S. Rental Car Segment

Debt Instrument

Number of positions eliminated | employee

11,000

Restructuring Plan Impact of C O V I D19 | Other Restructuring

Debt Instrument

Number of positions eliminated | employee

20,000

Significant Accounting Polici_4

Significant Accounting Policies (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)unit	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of reporting units | unit	4
Subrogation receivables	$ 67	$ 109
Maturity period for highly liquid investments to be classified as cash and cash equivalents	3 months
Depreciation	$ 129	122	$ 129
Advertising expense	112	318	$ 238
Operating lease liabilities	$ 1,636	$ 1,848
Minimum | Performance Stock Units and Performance Stock Awards
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Award requisite service period	2 years
Maximum | Performance Stock Units and Performance Stock Awards
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Award requisite service period	4 years
Vehicles | Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Holding period	6 months
Vehicles | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Holding period	36 months

Significant Accounting Polici_5

Significant Accounting Policies (Property and Equipment, Including Useful Lives) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Land, buildings and leasehold improvements	$ 1,277	$ 1,271
Service vehicles, equipment and furniture and fixtures	761	798
Less: accumulated depreciation	(1,372)	(1,312)
Total property and equipment, net	$ 666	$ 757
Minimum
Property, Plant and Equipment [Line Items]
Useful life	1 year
Finite-lived intangible assets, useful life	2 years
Maximum
Property, Plant and Equipment [Line Items]
Useful life	50 years
Finite-lived intangible assets, useful life	20 years
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Useful life	1 year
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Useful life	50 years
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Useful life	1 year
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Service cars and service equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life	1 year
Service cars and service equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life	25 years
Performance Stock Units and Performance Stock Awards | Minimum
Property, Plant and Equipment [Line Items]
Award requisite service period	2 years
Performance Stock Units and Performance Stock Awards | Maximum
Property, Plant and Equipment [Line Items]
Award requisite service period	4 years

Divestitures Narratives (Detail

Divestitures Narratives (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Nov. 30, 2020
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration receivable from sale			$ 825
Consideration receivable from sale, amounts to be placed in escrow			$ 82.5
Other income (expense), net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Marketable securities	$ 74
Non-vehicle Capital Assets | Other income (expense), net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of productive assets	$ 20	$ 39

Divestitures (Major Classes Of

Divestitures (Major Classes Of Assets and Liabilities Of Discontinued Operations) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
ASSETS
Revenue earning vehicles, net	$ 37	$ 322
Assets held for sale	1,811	0
LIABILITIES
Liabilities held for sale	1,431	0
The Hertz Corporation
ASSETS
Cash and cash equivalents	3
Restricted cash and cash equivalents	68
Receivables, net	207
Prepaid expenses and other assets	28
Revenue earning vehicles, net	1,432
Property and equipment, net	6
Operating lease right-of-use assets	2
Intangible assets, net	29
Goodwill	36
Assets held for sale	1,811	0
LIABILITIES
Accounts payable	76
Accrued liabilities	19
Accrued taxes, net	3
Vehicle debt	1,327
Operating lease liabilities	6
Liabilities held for sale	$ 1,431	$ 0

Revenue Earning Vehicles (Compo

Revenue Earning Vehicles (Components of Revenue Earning Vehicles) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Vehicles	$ 7,492	$ 16,626
Less accumulated depreciation	(1,467)	(3,159)
Property subject to available for operating lease excluding assets held for sale	6,025	13,467
Revenue earning vehicles, net	37	322
Total revenue earning vehicles, net	$ 6,062	$ 13,789

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, Net (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2020
Goodwill
Finite-Lived Intangible Assets [Line Items]
Percentage of fair value in excess of carrying amount		20.00%
Indefinite-lived Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Percentage of fair value in excess of carrying amount		10.00%
Minimum
Finite-Lived Intangible Assets [Line Items]
Goodwill, discount rate		12.50%
Intangible assets, discount rate		13.00%
Maximum
Finite-Lived Intangible Assets [Line Items]
Goodwill, discount rate		14.00%
Intangible assets, discount rate		14.00%
U.S. Rental Car
Finite-Lived Intangible Assets [Line Items]
Impairment charge	$ 193	$ 20
U.S. Rental Car | Technology Related Intangible Assets
Finite-Lived Intangible Assets [Line Items]
Impairment charge	124
U.S. Rental Car | Other assets
Finite-Lived Intangible Assets [Line Items]
Impairment charge	$ 69
U.S. Rental Car | Trade name
Finite-Lived Intangible Assets [Line Items]
Percentage of fair value in excess of carrying amount		7.00%
Fair value		$ 934

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, Net (Summary of changes in goodwill, by segment) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2020
Goodwill
Balance at the beginning of the period, Goodwill	$ 1,301	$ 1,301
Accumulated impairment losses at the beginning of the period	(218)	(218)
Net goodwill, balance at the beginning of the period	1,083	1,083
Goodwill acquired and other changes during the period	(38)	0
Total	(38)	0
Balance at the end of the period, Goodwill	1,265	1,301
Accumulated impairment losses at the end of the period	(220)	(218)
Net goodwill, balance at the end of the period	1,083	1,083	$ 1,045
U.S. Rental Car
Goodwill
Balance at the beginning of the period, Goodwill	1,029	1,029
Accumulated impairment losses at the beginning of the period	0	0
Net goodwill, balance at the beginning of the period	1,029	1,029
Goodwill acquired and other changes during the period	0	0
Total	0	0
Balance at the end of the period, Goodwill	1,029	1,029
Accumulated impairment losses at the end of the period	0	0
Net goodwill, balance at the end of the period	1,029	1,029	1,029
International Rental Car
Goodwill
Balance at the beginning of the period, Goodwill	236	236
Accumulated impairment losses at the beginning of the period	(218)	(218)
Net goodwill, balance at the beginning of the period	18	18
Goodwill acquired and other changes during the period	(2)	0
Total	(2)	0
Balance at the end of the period, Goodwill	236	236
Accumulated impairment losses at the end of the period	(220)	(218)
Net goodwill, balance at the end of the period	18	18	16
All Other Operations
Goodwill
Balance at the beginning of the period, Goodwill	36	36
Accumulated impairment losses at the beginning of the period	0	0
Net goodwill, balance at the beginning of the period	36	36
Goodwill acquired and other changes during the period	(36)	0
Total	(36)	0
Balance at the end of the period, Goodwill	0	36
Accumulated impairment losses at the end of the period	0	0
Net goodwill, balance at the end of the period	$ 36	$ 36	$ 0

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, Net (Schedule of components of other intangible assets by major classes) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Amortizable intangible assets:
Gross Carrying Amount	$ 1,101	$ 1,336
Accumulated Amortization	(927)	(937)
Net Carrying Value	174	399
Indefinite-lived intangible assets:
Carrying Amount	2,818	2,839
Total Other intangible assets
Gross Carrying Amount	3,919	4,175
Accumulated Amortization	(927)	(937)
Net Carrying Value	2,992	3,238
Trade name
Indefinite-lived intangible assets:
Carrying Amount	2,794	2,814
Other
Indefinite-lived intangible assets:
Carrying Amount	24	25
Customer-related
Amortizable intangible assets:
Gross Carrying Amount	268	333
Accumulated Amortization	(268)	(313)
Net Carrying Value	0	20
Total Other intangible assets
Accumulated Amortization	(268)	(313)
Concession rights
Amortizable intangible assets:
Gross Carrying Amount	414	414
Accumulated Amortization	(371)	(324)
Net Carrying Value	43	90
Total Other intangible assets
Accumulated Amortization	(371)	(324)
Technology-related intangibles
Amortizable intangible assets:
Gross Carrying Amount	359	515
Accumulated Amortization	(232)	(236)
Net Carrying Value	127	279
Total Other intangible assets
Accumulated Amortization	(232)	(236)
Other
Amortizable intangible assets:
Gross Carrying Amount	60	74
Accumulated Amortization	(56)	(64)
Net Carrying Value	4	10
Total Other intangible assets
Accumulated Amortization	$ (56)	$ (64)

Goodwill and Intangible Asset_6

Goodwill and Intangible Assets, Net (Amortization of Intangible Assets) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 96	$ 81	$ 89

Goodwill and Intangible Asset_7

Goodwill and Intangible Assets, Net (Schedule of Future Amortization Expense) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 85
2022	33
2023	24
2024	17
2025	7
After 2025	8
Total expected amortization expense	$ 174	$ 399

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) $ in Millions, $ in Millions	Dec. 31, 2020USD ($)	Dec. 31, 2020CAD ($)	Feb. 29, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2019CAD ($)
Debt Instrument
Outstanding principal	$ 2,700		$ 200	$ 2,700
Total Non-Vehicle Debt Subject to Compromise	4,443
Debt	6,267			17,089
Non-vehicle
Debt Instrument
Outstanding principal	243			3,721
Unamortized Debt Issuance Costs and Net (Discount) Premium	(36)			0
Total Non-Vehicle Debt Subject to Compromise	4,443			0
Debt	243			3,721
Corporate Debt | Non-vehicle
Debt Instrument
Unamortized Debt Issuance Costs and Net (Discount) Premium	$ (25)			(34)
Senior Term Loan | Non-vehicle
Debt Instrument
Average interest rate (as a percent)	3.50%	3.50%
Outstanding principal	$ 0			660
Liabilities subject to compromise	$ 656			0
Senior RCF | Non-vehicle
Debt Instrument
Average interest rate (as a percent)	3.41%	3.41%
Outstanding principal				0
Liabilities subject to compromise	$ 615			0
Senior Notes | Non-vehicle
Debt Instrument
Average interest rate (as a percent)	6.11%	6.11%
Outstanding principal	$ 0			2,700
Liabilities subject to compromise	$ 2,700			0
Senior Second Priority Secured Notes | Non-vehicle
Debt Instrument
Average interest rate (as a percent)	7.63%	7.63%
Outstanding principal	$ 0			350
Liabilities subject to compromise	$ 350			0
Senior Secured Superpriority Debtor-in-Possession Credit Agreement | Non-vehicle
Debt Instrument
Average interest rate (as a percent)	8.53%	8.53%
Outstanding principal	$ 250			0
Promissory Notes | Non-vehicle
Debt Instrument
Average interest rate (as a percent)	7.00%	7.00%
Outstanding principal	$ 0			27
Liabilities subject to compromise	$ 27			0
Alternative Letter of Credit Facility | Non-vehicle
Debt Instrument
Average interest rate (as a percent)	5.25%	5.25%
Liabilities subject to compromise	$ 114			0
Senior RCF Letter of Credit Facility | Non-vehicle
Debt Instrument
Average interest rate (as a percent)	5.50%	5.50%
Liabilities subject to compromise	$ 17			0
Other Corporate Debt | Non-vehicle
Debt Instrument
Average interest rate (as a percent)	7.26%	7.26%
Outstanding principal	$ 18			18
Fleet Debt
Debt Instrument
Unamortized Debt Issuance Costs and Net (Discount) Premium	(63)			(47)
Debt	6,024
HVF II U.S. ABS Program
Debt Instrument
Outstanding principal	$ 1,940			2,644
HVF II Series 2013-A, Class A
Debt Instrument
Average interest rate (as a percent)	3.39%	3.39%
Outstanding principal	$ 1,940			2,644
HVF II U.S. Vehicle Medium Term Notes
Debt Instrument
Outstanding principal	2,669			6,620
HVF II Series 2015-1
Debt Instrument
Outstanding principal	$ 0			780
HVF II Series 2015-3
Debt Instrument
Average interest rate (as a percent)	3.64%	3.64%
Outstanding principal	$ 163			371
HVF II Series 2016-2
Debt Instrument
Average interest rate (as a percent)	3.98%	3.98%
Outstanding principal	$ 263			595
HVF II Series 2016-4
Debt Instrument
Average interest rate (as a percent)	3.65%	3.65%
Outstanding principal	$ 187			424
HVF II Series 2017-1
Debt Instrument
Average interest rate (as a percent)	3.91%	3.91%
Outstanding principal	$ 199			450
HVF II Series 2017-2
Debt Instrument
Average interest rate (as a percent)	4.31%	4.31%
Outstanding principal	$ 164			350
HVF II Series 2018-1
Debt Instrument
Average interest rate (as a percent)	3.86%	3.86%
Outstanding principal	$ 468			1,000
HVF II Series 2018-2
Debt Instrument
Average interest rate (as a percent)	4.31%	4.31%
Outstanding principal	$ 94			200
Debt				13,368
HVF II Series 2018-3
Debt Instrument
Average interest rate (as a percent)	4.62%	4.62%
Outstanding principal	$ 95			200
HVF II Series 2019-1
Debt Instrument
Average interest rate (as a percent)	4.37%	4.37%
Outstanding principal	$ 330			700
HVF II Series 2019-2
Debt Instrument
Average interest rate (as a percent)	3.98%	3.98%
Outstanding principal	$ 354			750
HVF II Series 2019-3
Debt Instrument
Average interest rate (as a percent)	3.22%	3.22%
Outstanding principal	$ 352			800
Other Fleet Debt
Debt Instrument
Outstanding principal	1,478			2,490
U.S. Vehicle RCF
Debt Instrument
Outstanding principal	$ 0			146
European Fleet Notes
Debt Instrument
Average interest rate (as a percent)	5.07%	5.07%
Outstanding principal	$ 888			$ 810
Foreign currency exchange rate (EURO to USD)	1.22	1.22		1.12	1.12
European ABS
Debt Instrument
Average interest rate (as a percent)	1.60%	1.60%
Outstanding principal	$ 263			$ 766
Hertz Canadian Securitization
Debt Instrument
Average interest rate (as a percent)	3.67%	3.67%
Outstanding principal	$ 53	$ 350		241
Donlen Canadian Securitization
Debt Instrument
Average interest rate (as a percent)	1.54%	1.54%
Outstanding principal	$ 0			24	$ 50
Australian Securitization
Debt Instrument
Average interest rate (as a percent)	1.67%	1.67%
Outstanding principal	$ 97			177
New Zealand RCF
Debt Instrument
Average interest rate (as a percent)	2.91%	2.91%
Outstanding principal	$ 35			50
UK Leveraged Financing
Debt Instrument
Average interest rate (as a percent)	3.01%	3.01%
Outstanding principal	$ 105			247
Other Vehicle Debt
Debt Instrument
Average interest rate (as a percent)	3.52%	3.52%
Outstanding principal	$ 37			29
Donlen ABS Program
Debt Instrument
Outstanding principal	$ 0			286
HFLF Series 2013-2 Notes
Debt Instrument
Average interest rate (as a percent)	6.12%	6.12%
Outstanding principal	$ 0			286
HFLF Medium Term Notes
Debt Instrument
Outstanding principal	0			1,375
HFLF Series 2016-1
Debt Instrument
Outstanding principal	$ 0			34
HFLF Series 2017-1
Debt Instrument
Average interest rate (as a percent)	2.94%	2.94%
Outstanding principal	$ 0			229
HFLF Series 2018-1
Debt Instrument
Average interest rate (as a percent)	2.74%	2.74%
Outstanding principal	$ 0			462
HVF II Series 2019-1
Debt Instrument
Average interest rate (as a percent)	2.31%	2.31%
Outstanding principal	$ 0			650
6.250% Senior Notes due October 2022
Debt Instrument
Outstanding principal	$ 500			500
Interest rate	6.25%	6.25%
5.500% Senior Notes due October 2024
Debt Instrument
Outstanding principal	$ 800			800
Interest rate	5.50%	5.50%
7.125% Senior Notes due August 2026
Debt Instrument
Outstanding principal	$ 500			500
Interest rate	7.125%	7.125%
6.000% Senior Notes due January 2028
Debt Instrument
Outstanding principal	$ 900			$ 900
Interest rate	6.00%	6.00%

Debt (Narrative) (Details)

Debt (Narrative) (Details) $ in Millions		Feb. 19, 2021EUR (€)	Feb. 18, 2021EUR (€)	Feb. 16, 2021USD ($)	Feb. 11, 2021EUR (€)	Jan. 20, 2021USD ($)payment	Nov. 30, 2020USD ($)	Aug. 31, 2020USD ($)	Feb. 29, 2020USD ($)	Nov. 30, 2019USD ($)	Aug. 31, 2019USD ($)	May 31, 2019USD ($)	Feb. 28, 2019USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Feb. 26, 2021CAD ($)	Feb. 25, 2021CAD ($)	Jan. 13, 2021CAD ($)	Dec. 31, 2020CAD ($)	Dec. 31, 2020EUR (€)	Dec. 31, 2020AUD ($)	Dec. 31, 2020NZD ($)	Dec. 31, 2020GBP (£)	Nov. 24, 2020USD ($)	Oct. 29, 2020USD ($)	Oct. 15, 2020USD ($)	Jul. 24, 2020USD ($)employee	May 31, 2020AUD ($)	Apr. 30, 2020GBP (£)	Apr. 29, 2020GBP (£)	Dec. 31, 2019CAD ($)	Oct. 31, 2019GBP (£)	Sep. 30, 2019NZD ($)	Nov. 30, 2017USD ($)
Debt Instrument
Payments under bankruptcy court order for operating lease																													$ 650,000,000
Number of payments under bankruptcy court order for operating lease | employee																													6
Monthly payments under bankruptcy court order for operating lease														$ 108,000,000
Outstanding principal									$ 200,000,000					2,700,000,000	$ 2,700,000,000	$ 2,700,000,000
Liabilities held for sale														1,431,000,000	1,431,000,000	0
Debt to mature in 2020														2,748,000,000	2,748,000,000
Liabilities subject to compromise														4,965,000,000	4,965,000,000	0
Assets	[1]													16,908,000,000	16,908,000,000	24,627,000,000
Total liabilities	[1]													$ 16,815,000,000	$ 16,815,000,000	22,739,000,000
Restricted net assets of subsidiaries as percentage of total consolidated net assets, greater than														25.00%	25.00%						25.00%	25.00%	25.00%	25.00%	25.00%
Availability under borrowing base limitation														$ 1,415,000,000	$ 1,415,000,000
Interest expense, net															70,000,000
Loss on extinguishment of debt															$ (5,000,000)	(43,000,000)	$ (22,000,000)
Consolidated Entity Excluding Variable Interest Entities (VIE)
Debt Instrument
Minority ownership interest, percent															25.00%
Assets														464,000,000	$ 464,000,000	1,100,000,000
Total liabilities														464,000,000	464,000,000	1,100,000,000
Subsequent Event
Debt Instrument
Payments under bankruptcy court order for operating lease						$ 756,000,000
Number of payments under bankruptcy court order for operating lease | payment						9
Monthly payments under bankruptcy court order for operating lease						$ 84,000,000
Accrued liabilities
Debt Instrument
Interest expense, net															136,000,000	61,000,000
Letters of credit facility
Debt Instrument
Aggregate maximum borrowings														740,000,000	740,000,000
Outstanding standby letters of credit														17,000,000	17,000,000
HVIF Series 2020-1 A Notes
Debt Instrument
Debt face amount																										$ 3,500,000,000
Interest rate																										3.00%
HVIF Series 2020-1 B Notes
Debt Instrument
Debt face amount																										$ 500,000,000
Interest rate																										3.75%
HVIF Series 2020-1 Notes
Debt Instrument
Interest rate																										55.00%
HIL Notes
Debt Instrument
Debt face amount | €																						€ 250,000,000
European ABS | Subsequent Event
Debt Instrument
Maximum amount outstanding during period | €		€ 180,000,000	€ 187,000,000		€ 201,000,000
Corporate Debt
Debt Instrument
Debt to mature in 2020														1,016,000,000	1,016,000,000
Liabilities subject to compromise														760,000,000	760,000,000
Availability under borrowing base limitation														1,400,000,000	1,400,000,000
Revolving Credit Facility | Letters of credit facility
Debt Instrument
Debt face amount																250,000,000																				$ 400,000,000
Alternative Senior Credit Facility
Debt Instrument
Outstanding standby letters of credit														114,000,000	114,000,000
Maximum amount outstanding during period															200,000,000
US Vehicle RCF
Debt Instrument
Repayments of debt								$ 93,000,000
Senior RCF
Debt Instrument
Availability under borrowing base limitation														$ 0	$ 0
5.500% Senior Notes due October 2024
Debt Instrument
Interest rate														5.50%	5.50%						5.50%	5.50%	5.50%	5.50%	5.50%
Outstanding principal														$ 800,000,000	$ 800,000,000	800,000,000
7.125% Senior Notes due August 2026
Debt Instrument
Debt face amount											$ 500,000,000
Interest rate											7.125%
5.875% Senior Notes due October 2020
Debt Instrument
Interest rate											5.875%			5.875%	5.875%						5.875%	5.875%	5.875%	5.875%	5.875%
Repayments of debt											$ 700,000,000
7.375% Senior Notes due January 2021
Debt Instrument
Interest rate											7.375%			7.375%	7.375%						7.375%	7.375%	7.375%	7.375%	7.375%
Repayments of debt											$ 500,000,000
6.000% Senior Notes due January 2028
Debt Instrument
Debt face amount										$ 900,000,000
Interest rate										6.00%
7.625% Senior Notes Due 2026
Debt Instrument
Interest rate										7.625%
Repayments of debt										$ 900,000,000
6.250% Senior Notes due October 2022
Debt Instrument
Interest rate														6.25%	6.25%						6.25%	6.25%	6.25%	6.25%	6.25%
Outstanding principal														$ 500,000,000	$ 500,000,000	500,000,000
Senior Second Priority Secured Notes, 7.625%, Due 2022
Debt Instrument
Interest rate														7.625%	7.625%						7.625%	7.625%	7.625%	7.625%	7.625%
Fleet Debt
Debt Instrument
Debt to mature in 2020														$ 1,732,000,000	$ 1,732,000,000
Availability under borrowing base limitation														15,000,000	15,000,000
HVF II U.S. ABS Program
Debt Instrument
Outstanding principal														1,940,000,000	1,940,000,000	2,644,000,000
HVF II Series 2013-A, Class A
Debt Instrument
Outstanding principal														$ 1,940,000,000	$ 1,940,000,000	2,644,000,000
Average interest rate (as a percent)														3.39%	3.39%						3.39%	3.39%	3.39%	3.39%	3.39%
HVF II Series 2019-1
Debt Instrument
Debt face amount													$ 745,000,000
Outstanding principal														$ 0	$ 0	650,000,000
Average interest rate (as a percent)														2.31%	2.31%						2.31%	2.31%	2.31%	2.31%	2.31%
HVF II U.S. Vehicle Medium Term Notes, Series 2019-2 Rental Car Asset Backed Notes, Class A, B, C and D
Debt Instrument
Aggregate maximum borrowings										$ 800,000,000		$ 799,000,000
HFLF Series 2013-2 Notes due March 2022
Debt Instrument
Outstanding principal									600,000,000
HFLF Series 2013-2 Notes
Debt Instrument
Repayments of debt									316,000,000
Outstanding principal														$ 0	$ 0	286,000,000
Debt instrument, net change									100,000,000
Average interest rate (as a percent)														6.12%	6.12%						6.12%	6.12%	6.12%	6.12%	6.12%
HFLF Medium Term Notes
Debt Instrument
Outstanding principal														$ 0	$ 0	1,375,000,000
HFLF Series 2016-1
Debt Instrument
Outstanding principal														0	0	34,000,000
European Fleet Notes
Debt Instrument
Outstanding principal														$ 888,000,000	$ 888,000,000	810,000,000
Average interest rate (as a percent)														5.07%	5.07%						5.07%	5.07%	5.07%	5.07%	5.07%
European Fleet Notes, 5.500%, Due March 2023
Debt Instrument
Interest rate														5.50%	5.50%						5.50%	5.50%	5.50%	5.50%	5.50%
Outstanding principal														$ 612,000,000	$ 612,000,000	559,000,000
European ABS
Debt Instrument
Outstanding principal														$ 263,000,000	$ 263,000,000	766,000,000
Average interest rate (as a percent)														1.60%	1.60%						1.60%	1.60%	1.60%	1.60%	1.60%
European ABS
Debt Instrument
Availability under borrowing base limitation														$ 0	$ 0
Hertz Canadian Securitization
Debt Instrument
Outstanding principal														$ 53,000,000	$ 53,000,000	241,000,000					$ 350
Average interest rate (as a percent)														3.67%	3.67%						3.67%	3.67%	3.67%	3.67%	3.67%
Availability under borrowing base limitation														$ 0	$ 0
UK Leveraged Financing
Debt Instrument
Outstanding principal														$ 105,000,000	$ 105,000,000	247,000,000
Average interest rate (as a percent)														3.01%	3.01%						3.01%	3.01%	3.01%	3.01%	3.01%
HFLF Series 2017-1
Debt Instrument
Outstanding principal														$ 0	$ 0	229,000,000
Average interest rate (as a percent)														2.94%	2.94%						2.94%	2.94%	2.94%	2.94%	2.94%
HFLF Series 2018-1
Debt Instrument
Outstanding principal														$ 0	$ 0	462,000,000
Average interest rate (as a percent)														2.74%	2.74%						2.74%	2.74%	2.74%	2.74%	2.74%
HFLF Medium Term Notes, Series 2019-1 Asset Back Notes, Class A, B, C, D and E
Debt Instrument
Outstanding principal												650,000,000
HVF II Series 2013-A Notes, Due March 2021
Debt Instrument
Outstanding principal												4,100,000,000	3,400,000,000
HVF II Series 2018-1 Class A, B, C and D
Debt Instrument
Debt instrument, net change													400,000,000
HVF II Series 2013-A Notes
Debt Instrument
Outstanding principal									4,900,000,000
Debt instrument, net change									$ 750,000,000
Line of credit facility transitioning amount													$ 300,000,000
Line of credit facility, period increase (decrease)												40,000,000
Donlen Canadian Securitization
Debt Instrument
Repayments of debt												$ 734,000,000
Outstanding principal														$ 0	$ 0	24,000,000																	$ 50
Liabilities held for sale														$ 27,000,000	$ 27,000,000
Average interest rate (as a percent)														1.54%	1.54%						1.54%	1.54%	1.54%	1.54%	1.54%
Donlen Canadian Securitization | Subsequent Event
Debt Instrument
Outstanding principal																		$ 37	$ 50
Debtor In Possession Credit Agreement
Debt Instrument
DIP credit agreement, amount																												$ 1,650,000,000
DIP credit agreement, minimum draw amount																											$ 250,000,000
Debtor In Possession Credit Agreement | Subsequent Event
Debt Instrument
Proceeds from issuance of debt				$ 250,000,000
Debtor In Possession Credit Agreement | London Interbank Offered Rate (LIBOR)
Debt Instrument
DIP credit agreement, interest rate (percent)																											7.25%
DIP credit agreement, interest rate floor (percent)																											0.0100
DIP credit agreement, interest rate after significant repayment of pre-petition first lien debt																											0.0675
Senior Revolving Credit Facility and Letter of Credit Facility
Debt Instrument
Maximum consolidated leverage ratio														3	3						3	3	3	3	3
4.125% Senior Notes due October 2021
Debt Instrument
Interest rate														4.125%	4.125%						4.125%	4.125%	4.125%	4.125%	4.125%
Outstanding principal														$ 276,000,000	$ 276,000,000	251,000,000
Letters of credit facility
Debt Instrument
Aggregate maximum borrowings														299,000,000	299,000,000
Revolving Credit Facility | Senior RCF
Debt Instrument
Aggregate maximum borrowings														225,000,000	225,000,000
Revolving Credit Facility | UK Financing Facility
Debt Instrument
Aggregate maximum borrowings | £																									£ 85,000,000						£ 200,000,000	£ 250,000,000		£ 250,000,000
Revolving Credit Facility | Australian Securitization, Due June 2021
Debt Instrument
Aggregate maximum borrowings																							$ 210,000,000							$ 270,000,000
Revolving Credit Facility | New Zealand RCF, Due March 2020
Debt Instrument
Aggregate maximum borrowings																																			$ 60,000,000
Revolving Credit Facility | New Zealand RCF, Due June 2021
Debt Instrument
Aggregate maximum borrowings																								$ 75,000,000
DIP Credit Agreement
Debt Instrument
Proceeds from issuance of debt							$ 250,000,000
Payments of debt issuance costs							$ 50,000,000
Liquidity maintenance test														275,000,000	275,000,000
Non-vehicle
Debt Instrument
Proceeds from issuance of debt															1,812,000,000	3,016,000,000	557,000,000
Repayments of debt															855,000,000	3,732,000,000	571,000,000
Outstanding principal														243,000,000	243,000,000	3,721,000,000
Loss on extinguishment of debt															0	(43,000,000)	0
Non-vehicle | Senior Term Loan
Debt Instrument
Outstanding principal														$ 0	$ 0	660,000,000
Average interest rate (as a percent)														3.50%	3.50%						3.50%	3.50%	3.50%	3.50%	3.50%
Non-vehicle | Senior RCF
Debt Instrument
Outstanding principal																0
Average interest rate (as a percent)														3.41%	3.41%						3.41%	3.41%	3.41%	3.41%	3.41%
Non-vehicle | Senior Notes
Debt Instrument
Outstanding principal														$ 0	$ 0	2,700,000,000
Average interest rate (as a percent)														6.11%	6.11%						6.11%	6.11%	6.11%	6.11%	6.11%
Non-vehicle | 5.875% Senior Notes due October 2020
Debt Instrument
Loss on extinguishment of debt															$ 0	(2,000,000)	0
Non-vehicle | 7.375% Senior Notes due January 2021
Debt Instrument
Loss on extinguishment of debt															0	(2,000,000)	0
Non-vehicle | Senior Second Priority Secured Notes, 7.625%, Due 2022
Debt Instrument
Loss on extinguishment of debt															0	(39,000,000)	0
Non-vehicle | Debtor In Possession Credit Agreement
Debt Instrument
DIP credit agreement, amount																											$ 800,000,000
Vehicle
Debt Instrument
Proceeds from issuance of debt															4,546,000,000	13,013,000,000	14,009,000,000
Repayments of debt															10,751,000,000	11,530,000,000	12,426,000,000
Loss on extinguishment of debt															(5,000,000)	0	(22,000,000)
Vehicle | HVF II Series 2017-A
Debt Instrument
Loss on extinguishment of debt															0	0	(2,000,000)
Vehicle | European ABS
Debt Instrument
Loss on extinguishment of debt															(5,000,000)	$ 0	$ 0
Vehicle | Debtor In Possession Credit Agreement
Debt Instrument
DIP credit agreement, amount														$ 1,100,000,000	1,100,000,000											$ 1,000,000,000
Vehicle | Debtor In Possession Credit Agreement | Subsequent Event
Debt Instrument
DIP credit agreement, amount																				$ 400
Vehicle | Secured Fleet Financing
Debt Instrument
DIP credit agreement, amount																										$ 4,000,000,000
Vehicle | D F L F Series20201 Notes
Debt Instrument
Repayments of debt															250,000,000
Outstanding principal														400,000,000	400,000,000
Line of credit facility, period increase (decrease)															50,000,000
Committed funding available														$ 300,000,000	$ 300,000,000
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of December 31, 2020 and December 31, 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of December 31, 2020 and December 31, 2019 include total liabilities of VIEs of $475 million and $1.1 billion, 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 "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information.

Debt (Debt Eliminated in Consol

Debt (Debt Eliminated in Consolidation) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
HVF II Series 2017-2 Class D Notes
Debt Instrument
Related party transaction, amount	$ 20
HVF II Series 2018-1 Class D Notes
Debt Instrument
Related party transaction, amount	58
HVF II Series 2018-2 Class D Notes
Debt Instrument
Related party transaction, amount	13
HVF II Series 2018-3 Class D Notes
Debt Instrument
Related party transaction, amount	13
HVF II Series 2019-1 Class D Notes
Debt Instrument
Related party transaction, amount	45
HVF II Series 2019-2 Class D Notes
Debt Instrument
Related party transaction, amount	49
Total
Debt Instrument
Related party transaction, amount	$ 198

Debt (Loss on Extinguishment of

Debt (Loss on Extinguishment of Debt) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Aug. 31, 2019
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	$ 5	$ 43	$ 22
Non-vehicle
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	0	43	0
Vehicle
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	$ 5	0	22
5.875% Senior Notes due 2020
Extinguishment of Debt [Line Items]
Interest rate	5.875%			5.875%
5.875% Senior Notes due 2020 | Non-vehicle
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	$ 0	2	0
7.375% Senior Notes due 2021
Extinguishment of Debt [Line Items]
Interest rate	7.375%			7.375%
7.375% Senior Notes due 2021 | Non-vehicle
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	$ 0	2	0
7.625% Senior Second Priority Secured Notes due 2022
Extinguishment of Debt [Line Items]
Interest rate	7.625%
7.625% Senior Second Priority Secured Notes due 2022 | Non-vehicle
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	$ 0	39	0
HVF II Series 2017-A | Vehicle
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	$ 0	0	2
4.375% European Vehicle Notes due 2019
Extinguishment of Debt [Line Items]
Interest rate	4.375%
4.375% European Vehicle Notes due 2019 | Vehicle
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	$ 0	0	20
European ABS | Vehicle
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	$ 5	$ 0	$ 0

Debt (Debt Maturities) (Details

Debt (Debt Maturities) (Details) $ in Millions	Dec. 31, 2020USD ($)
Maturities of Long-term Debt [Abstract]
2021	$ 2,748
2022	3,336
2023	1,816
2024	1,507
2025	0
After 2025	1,427
Corporate Debt
Maturities of Long-term Debt [Abstract]
2021	1,016
2022	870
2023	633
2024	801
2025	0
After 2025	1,427
Fleet Debt
Maturities of Long-term Debt [Abstract]
2021	1,732
2022	2,466
2023	1,183
2024	706
2025	0
After 2025	0
Debt, prior period maturity	$ 362

Debt (Borrowing Capacity) (Deta

Debt (Borrowing Capacity) (Details) $ in Millions	Dec. 31, 2020USD ($)
Debt Instrument
Remaining capacity	$ 5,997
Availability under borrowing base limitation	1,415
Senior RCF
Debt Instrument
Remaining capacity	0
Availability under borrowing base limitation	0
Senior Secured Superpriority Debtor-in-Possession Credit Agreement
Debt Instrument
Remaining capacity	1,400
Availability under borrowing base limitation	1,400
Letter of Credit Facility
Debt Instrument
Remaining capacity	0
Availability under borrowing base limitation	0
Alternative Letter of Credit Facility
Debt Instrument
Remaining capacity	0
Availability under borrowing base limitation	0
Corporate Debt
Debt Instrument
Remaining capacity	1,400
Availability under borrowing base limitation	1,400
HVF II U.S. Vehicle Variable Funding Notes
Debt Instrument
Remaining capacity	0
Availability under borrowing base limitation	0
HVIF Series 2020-1
Debt Instrument
Remaining capacity	4,000
Availability under borrowing base limitation	10
European ABS
Debt Instrument
Remaining capacity	471
Availability under borrowing base limitation	0
Hertz Canadian Securitization
Debt Instrument
Remaining capacity	0
Availability under borrowing base limitation	0
Australian Securitization
Debt Instrument
Remaining capacity	63
Availability under borrowing base limitation	2
U.K. Financing Facility
Debt Instrument
Remaining capacity	44
Availability under borrowing base limitation	1
New Zealand RCF
Debt Instrument
Remaining capacity	19
Availability under borrowing base limitation	2
Fleet Debt
Debt Instrument
Remaining capacity	4,597
Availability under borrowing base limitation	$ 15

Revenue Disaggregated Revenue -

Revenue Disaggregated Revenue - Products and Services and Geographical (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606	$ 269	$ 362	$ 8,801
Vehicle
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			8,476
Other Revenue
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			325
Licensee revenue
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			177
Ancillary retail vehicle sales
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			103
Fleet management
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			45
Airport
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			5,753
Off airport
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			2,723
U.S. Rental Car
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			6,480
U.S. Rental Car | Vehicle
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			6,346
U.S. Rental Car | Other Revenue
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			134
U.S. Rental Car | Licensee revenue
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			32
U.S. Rental Car | Ancillary retail vehicle sales
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			102
U.S. Rental Car | Fleet management
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			0
U.S. Rental Car | Airport
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			4,465
U.S. Rental Car | Off airport
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			1,881
International Rental Car
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			2,276
International Rental Car | Vehicle
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			2,130
International Rental Car | Other Revenue
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			146
International Rental Car | Licensee revenue
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			145
International Rental Car | Ancillary retail vehicle sales
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			1
International Rental Car | Fleet management
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			0
International Rental Car | Airport
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			1,288
International Rental Car | Off airport
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			842
All Other Operations
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			45
All Other Operations | Vehicle
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			0
All Other Operations | Other Revenue
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			45
All Other Operations | Licensee revenue
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			0
All Other Operations | Ancillary retail vehicle sales
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			0
All Other Operations | Fleet management
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			45
All Other Operations | Airport
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			0
All Other Operations | Off airport
Disaggregation of Revenue [Line Items]
Revenue accounted for under Topic 606			$ 0

Revenue Narrative (Details)

Revenue Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2018USD ($)
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Customer loyalty program point balance liability, revenue recognized	$ (7)
Outstanding point balance amount	272
Calculated under Revenue Guidance in Effect before Topic 606 | Accounting Standards Update 2014-09
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Contract with customer liability	341
Loyalty points revenue recognized	$ 127

Employee Retirement Benefits (N

Employee Retirement Benefits (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)plan	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Defined Benefit Plan Disclosure [Line Items]
Liabilities subject to compromise	$ 4,965	$ 0
Pension benefits of retirement plan	93	1,888	$ 1,120	$ 1,520
Defined contribution plan	$ 11	27	26
Number of plans | plan	2
Pension benefits | Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	$ 258	228	192
Company contributions	4	5
Pension benefits | U.K. plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets	251	221
Estimated future contributions	$ 3
Pension benefits | U.S. plan
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets, percent	4.50%
Fair value of plan assets	$ 488	503	452
Company contributions	2	4
United States non-qualified pension plan of US entity
Defined Benefit Plan Disclosure [Line Items]
Company contributions	2	4
Other Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Provisions charged to income	6	11	10
Other Pension Plan | Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 3	3
Other Pension Plan | U.K. plan
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets, percent	3.00%
Equity securities | Pension benefits | U.S. plan
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	35.00%
Fixed income funds | Pension benefits | U.S. plan
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	65.00%
Actively managed multi-asset funds | Other Pension Plan | U.K. plan
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	30.00%
Passive equity funds | Other Pension Plan | U.K. plan
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	10.00%
Passive bond funds | Other Pension Plan | U.K. plan
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	60.00%
Restructuring and Restructuring Related Charges | Pension benefits | U.S. plan
Defined Benefit Plan Disclosure [Line Items]
Liabilities subject to compromise	$ 24
Restructuring and Restructuring Related Charges | Other Pension Plan | U.S. plan
Defined Benefit Plan Disclosure [Line Items]
Liabilities subject to compromise	2
Pension and Other Post-Employment Benefits
Defined Benefit Plan Disclosure [Line Items]
Pension benefits of retirement plan	$ (122)	$ (118)	$ (115)

Employee Retirement Benefits (C

Employee Retirement Benefits (Change in Benefit Obligation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Funded Status of the Plan
Liabilities subject to compromise	$ 4,965	$ 0
Pension Benefits | U.S. plan
Change in Benefit Obligation
Benefit obligation at the beginning of the year	559	516
Service cost	0	0
Interest cost	15	21
Plan curtailments	(2)	0
Plan settlements	(88)	(33)
Benefits paid	(3)	(4)
Foreign currency exchange rate translation	0	0
Actuarial loss (gain)	41	59
Benefit obligation at the end of the year	522	559
Change in Plan Assets
Fair value of plan assets at the beginning of the year	503	452
Actual return (loss) gain on plan assets	74	84
Company contributions	2	4
Plan settlements	(88)	(33)
Benefits paid	(3)	(4)
Foreign currency exchange rate translation	0	0
Fair value of plan assets at the end of the year	488	503
Funded Status of the Plan
Plan assets less than benefit obligation	(34)	(56)
Pension Benefits | Non-U.S.
Change in Benefit Obligation
Benefit obligation at the beginning of the year	286	246
Service cost	1	1
Interest cost	5	6
Plan curtailments	0	0
Plan settlements	(5)	0
Benefits paid	(6)	(5)
Foreign currency exchange rate translation	17	5
Actuarial loss (gain)	42	33
Benefit obligation at the end of the year	340	286
Change in Plan Assets
Fair value of plan assets at the beginning of the year	228	192
Actual return (loss) gain on plan assets	28	29
Company contributions	4	5
Plan settlements	(5)	0
Benefits paid	(6)	(5)
Foreign currency exchange rate translation	9	7
Fair value of plan assets at the end of the year	258	228
Funded Status of the Plan
Plan assets less than benefit obligation	(82)	(58)
Postretirement | U.S. plan
Change in Benefit Obligation
Benefit obligation at the beginning of the year	12	12
Service cost	0	0
Interest cost	0	0
Plan curtailments	0	0
Plan settlements	0	0
Benefits paid	(1)	(1)
Foreign currency exchange rate translation	0	0
Actuarial loss (gain)	1	1
Benefit obligation at the end of the year	12	12
Change in Plan Assets
Fair value of plan assets at the beginning of the year	0	0
Actual return (loss) gain on plan assets	0	0
Company contributions	1	1
Plan settlements	0	0
Benefits paid	(1)	(1)
Foreign currency exchange rate translation	0	0
Fair value of plan assets at the end of the year	0	0
Funded Status of the Plan
Plan assets less than benefit obligation	$ (12)	$ (12)

Employee Retirement Benefits (A

Employee Retirement Benefits (Amounts Recognized in Balance Sheet) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
U.S. plan | Continuing Operations
Components of Net Periodic Pension and Postretirement Expense (Benefit)
Service cost	$ 0	$ 0	$ 0
Interest cost	0	0	1
Expected return on plan assets	0	0	0
Net amortizations	0	0	0
Settlement loss	0	0	0
Net pension and postretirement expense (benefit)	$ 0	$ 0	$ 1
Weighted-average discount rate for expense (January 1)	3.20%	4.20%	3.50%
Initial health care cost trend rate	5.80%	6.10%	6.40%
Ultimate health care cost trend rate (rate to which cost trend is expected to decline)	4.50%	4.50%	4.50%
Number of years to ultimate trend rate (in years)	18 years	19 years	20 years
U.S. plan | Pension benefits
Amounts recognized in balance sheets:
Net obligation recognized in the balance sheets	$ (34)	$ (56)
Prior service credit	0	0
Net gain (loss)	(47)	(73)
Accumulated other comprehensive income (loss)	(47)	(73)
Funded/(Unfunded) accrued pension or postretirement benefit	13	17
Net obligation recognized in the balance sheets	(34)	(56)
Total recognized in other comprehensive (income) loss	(26)	(13)
Total recognized in net periodic benefit cost and other comprehensive (income) loss	(20)	(3)
Estimated amounts that will be amortized from accumulated other comprehensive (income) loss over the next fiscal year:
Accumulated Benefit Obligation at December 31	$ 522	$ 559
Weighted-average assumptions as of December 31
Discount rate	2.30%	3.10%
Expected return on assets	4.50%	4.80%
Average rate of increase in compensation	4.30%	4.30%
Interest crediting rate	3.80%	3.80%
Components of Net Periodic Pension and Postretirement Expense (Benefit)
Service cost	$ 0	$ 0
Interest cost	$ 15	$ 21
Weighted-average interest crediting rate for expense	3.80%	3.80%
U.S. plan | Pension benefits | Continuing Operations
Weighted-average assumptions as of December 31
Interest crediting rate	3.80%	3.80%	3.80%
Components of Net Periodic Pension and Postretirement Expense (Benefit)
Service cost	$ 0	$ 0	$ 1
Interest cost	15	21	19
Expected return on plan assets	(20)	(22)	(28)
Net amortizations	2	6	1
Settlement loss	9	5	3
Net pension and postretirement expense (benefit)	$ 6	$ 10	$ (4)
Weighted-average discount rate for expense (January 1)	3.10%	4.20%	3.60%
Weighted-average assumed long-term rate of return on assets (January 1)	4.80%	6.30%	6.30%
Weighted-average interest crediting rate for expense	3.80%	3.80%	3.80%
U.S. plan | Pension benefits | Prepaid expenses and other assets
Amounts recognized in balance sheets:
Net obligation recognized in the balance sheets	$ 0	$ 0
U.S. plan | Pension benefits | Accrued liabilities
Amounts recognized in balance sheets:
Net obligation recognized in the balance sheets	(34)	(56)
U.S. plan | Postretirement benefits
Amounts recognized in balance sheets:
Net obligation recognized in the balance sheets	(12)	(12)
Prior service credit	0	0
Net gain (loss)	(1)	1
Accumulated other comprehensive income (loss)	(1)	1
Funded/(Unfunded) accrued pension or postretirement benefit	(11)	(13)
Net obligation recognized in the balance sheets	(12)	(12)
Total recognized in other comprehensive (income) loss	1	1
Total recognized in net periodic benefit cost and other comprehensive (income) loss	$ 1	$ 1
Weighted-average assumptions as of December 31
Discount rate	2.30%	3.20%
Initial health care cost trend rate	5.50%	5.80%
Ultimate health care cost trend rate	4.50%	4.50%
Number of years to ultimate trend rate (in years)	18 years	19 years
Components of Net Periodic Pension and Postretirement Expense (Benefit)
Service cost	$ 0	$ 0
Interest cost	0	0
U.S. plan | Postretirement benefits | Prepaid expenses and other assets
Amounts recognized in balance sheets:
Net obligation recognized in the balance sheets	0	0
U.S. plan | Postretirement benefits | Accrued liabilities
Amounts recognized in balance sheets:
Net obligation recognized in the balance sheets	(12)	(12)
Non-U.S. | Pension benefits
Amounts recognized in balance sheets:
Net obligation recognized in the balance sheets	(82)	(58)
Prior service credit	(2)	(2)
Net gain (loss)	(93)	(70)
Accumulated other comprehensive income (loss)	(95)	(72)
Funded/(Unfunded) accrued pension or postretirement benefit	13	14
Net obligation recognized in the balance sheets	(82)	(58)
Total recognized in other comprehensive (income) loss	23	13
Total recognized in net periodic benefit cost and other comprehensive (income) loss	25	12
Estimated amounts that will be amortized from accumulated other comprehensive (income) loss over the next fiscal year:
Accumulated Benefit Obligation at December 31	$ 338	$ 284
Weighted-average assumptions as of December 31
Discount rate	1.40%	1.90%
Expected return on assets	3.00%	3.20%
Average rate of increase in compensation	2.10%	2.20%
Components of Net Periodic Pension and Postretirement Expense (Benefit)
Service cost	$ 1	$ 1
Interest cost	5	6
Non-U.S. | Pension benefits | Continuing Operations
Components of Net Periodic Pension and Postretirement Expense (Benefit)
Service cost	1	1	$ 1
Interest cost	5	6	7
Expected return on plan assets	(7)	(9)	(11)
Net amortizations	1	1	1
Settlement loss	2	0	0
Net pension and postretirement expense (benefit)	$ 2	$ (1)	$ (2)
Weighted-average discount rate for expense (January 1)	1.90%	2.70%	2.40%
Weighted-average assumed long-term rate of return on assets (January 1)	3.20%	4.80%	5.20%
Non-U.S. | Pension benefits | Prepaid expenses and other assets
Amounts recognized in balance sheets:
Net obligation recognized in the balance sheets	$ 14	$ 25
Non-U.S. | Pension benefits | Accrued liabilities
Amounts recognized in balance sheets:
Net obligation recognized in the balance sheets	$ (96)	$ (83)

Employee Retirement Benefits (F

Employee Retirement Benefits (Fair Value of Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	$ 9	$ 7
Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	470	488
Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	9	8
Cash | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	6	10
Cash | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Cash | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Short Term Investments | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Short Term Investments | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	28	36
Short Term Investments | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
U.S. Large Cap | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
U.S. Large Cap | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	66	70
U.S. Large Cap | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
U.S. Small Cap | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
U.S. Small Cap | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	11	10
U.S. Small Cap | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
International Large Cap | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
International Large Cap | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	36	38
International Large Cap | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
International Small Cap | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
International Small Cap | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	7	7
International Small Cap | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
International Emerging Markets | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
International Emerging Markets | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	6	8
International Emerging Markets | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	9	8
U.S. Treasuries | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
U.S. Treasuries | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	18	1
U.S. Treasuries | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Corporate Bonds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Corporate Bonds | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	245	247
Corporate Bonds | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Government Bonds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Government Bonds | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	9	24
Government Bonds | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Municipal Bonds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Municipal Bonds | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	10	11
Municipal Bonds | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Derivatives - Interest Rate | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	3	(3)
Derivatives - Interest Rate | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Derivatives - Interest Rate | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Derivatives - Credit | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Derivatives - Credit | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	1
Derivatives - Credit | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-Investment Grade Fixed Income | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-Investment Grade Fixed Income | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	34	35
Non-Investment Grade Fixed Income | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	24	46
Non-U.S. | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	190	139
Non-U.S. | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	37	36
Non-U.S. | Diversified Growth Funds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | Diversified Growth Funds | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	39	42
Non-U.S. | Diversified Growth Funds | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | Multi Asset Credit | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | Multi Asset Credit | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | Multi Asset Credit | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	37	36
Non-U.S. | U.K. Equities | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | U.K. Equities | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	12	11
Non-U.S. | U.K. Equities | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | Overseas Equities | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | Overseas Equities | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	14	14
Non-U.S. | Overseas Equities | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | Corporate Bonds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | Corporate Bonds | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	27	24
Non-U.S. | Corporate Bonds | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | Liability Driven Investments | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | Liability Driven Investments | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	98	48
Non-U.S. | Liability Driven Investments | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | Liquidity Fund | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	24	46
Non-U.S. | Liquidity Fund | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Non-U.S. | Liquidity Fund | Measured at NAV
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	$ 0	$ 0

Employee Retirement Benefits (E

Employee Retirement Benefits (Estimated Future Benefit Payments & Other Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Other Plans [Abstract]
Total contributions percentage	5.00%
Pension benefits
Other Plans [Abstract]
Multiemployer Plan, Employer Contribution, Cost	$ 7	$ 12	$ 10
Pension benefits | Western Conference of Teamsters
Other Plans [Abstract]
Multiemployer Plan, Employer Contribution, Cost	5	8	7
Pension benefits | Other Plans
Other Plans [Abstract]
Multiemployer Plan, Employer Contribution, Cost	2	$ 4	$ 3
U.S. plan | Pension benefits
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2021	34
2022	33
2023	36
2024	38
2025	40
After 2025	217
Total	398
U.S. plan | Postretirement benefits
Defined Benefit Plan, Expected Future Benefit Payment [Abstract]
2021	1
2022	1
2023	1
2024	1
2025	1
After 2025	3
Total	$ 8

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	May 24, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options, RSUs and PSUs granted	$ 8
Share-based payment award conversion ratio	1
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition of total unrecognized compensation cost	1 year 1 month 6 days
Expected term (years)	0 years	7 years	5 years
Restricted Stock Units RSU and Performance Stock Units PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years	3 years	3 years
Award vesting percentage first year	33.33%	33.33%	33.33%
Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, additional shares authorized (in shares)				2,490,000
Share based compensation, shares authorized (in shares)				11,767,723
Number of additional shares authorized		453,741
Omnibus Plan | Common Stock Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares underlying outstanding awards (in shares)	2,694,399
Maximum | Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based payment award conversion ratio	1
Expected term (years)	10 years

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of the total compensation expense and associated recognized income tax benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Compensation Expense and Tax Benefit
Compensation expense	$ (2)	$ 18	$ 14
Income tax benefit	0	(2)	(3)
Total	$ (2)	$ 16	$ 11

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule of valuation assumptions) (Details) - Stock Option - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	0.00%	68.50%	56.70%
Expected dividend yield	0.00%	0.00%	0.00%
Expected term (years)	0 years	7 years	5 years
Risk-free interest rate	0.00%	1.93%	2.57%
Weighted-average grant date fair value (in dollars per share)	$ 0	$ 9.19	$ 8.92

Stock-Based Compensation (Sum_2

Stock-Based Compensation (Summary of option activity under stock incentive plan and omnibus plan) (Details) - Stock Option - Stock Incentive Plan and Omnibus Plan - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Shares
Outstanding beginning balance (in shares)	1,055,954
Granted (in shares)	0
Exercised (in shares)	0
Forfeited or Expired (in shares)	(956,916)
Outstanding ending balance (in shares)	99,038	1,055,954
Exercisable (in shares)	98,194
Weighted Average Exercise Price
Outstanding beginning balance (in dollars per share)	$ 28.36
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited or Expired (in dollars per share)	27.70
Outstanding ending balance (in dollars per share)	34.76	$ 28.36
Exercisable (in dollars per share)	$ 35.35
Weighted-Average Remaining Contractual Term (years)/ Aggregate intrinsic Value
Weighted average remaining contractual term	2 years 3 months 18 days	4 years
Weighted average remaining contractual term, Exercisable	1 year 4 months 24 days
Aggregate intrinsic value	$ 0	$ 0
Aggregate intrinsic value, Exercisable	$ 0

Stock-Based Compensation (Sum_3

Stock-Based Compensation (Summary of non-vested options and changes during the year) (Details) - Stock Option - $ / shares	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Weighted-Average Grant-Date Fair Value
Granted (in dollars per share)	$ 0	$ 9.19	$ 8.92
Stock Incentive Plan and Omnibus Plan
Non-vested Shares
Non-vested beginning balance (in shares)	477,438
Granted (in shares)	0
Vested (in shares)	(19,664)
Forfeited (in shares)	(434,525)
Non-vested ending balance (in shares)	23,249	477,438
Weighted- Average Exercise Price
Non-vested beginning balance (in dollars per share)	$ 18.31
Granted (in dollars per share)	0
Vested (in dollars per share)	17.97
Forfeited (in dollars per share)	18.34
Non-vested ending balance (in dollars per share)	18.07	$ 18.31
Weighted-Average Grant-Date Fair Value
Non-vested beginning balance (in dollars per share)	9.35
Granted (in dollars per share)	0
Vested (in dollars per share)	8.93
Forfeited (in dollars per share)	9.39
Non-vested ending balance (in dollars per share)	$ 9.06	$ 9.35

Stock-Based Compensation (Sch_2

Stock-Based Compensation (Schedule of additional information pertaining to option activity under the plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received from the exercise of stock options	$ 0	$ 748	$ 0
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of stock options exercised	0	0	0
Cash received from the exercise of stock options	0	0	0
Fair value of options that vested	0	5	3
Tax benefit realized on exercise of stock options	$ 0	$ 0	$ 0

Stock-Based Compensation (Sum_4

Stock-Based Compensation (Summary of PSU and RSU activity under the omnibus plan) (Details) - Omnibus Plan - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Performance Stock Units
Shares
Outstanding beginning balance (in shares)	2,247,643
Granted (in shares)	1,482,197
Vested (in shares)	(75,288)
Forfeited or Expired (in shares)	(1,841,247)
Outstanding ending balance (in shares)	1,813,305	2,247,643
Weighted- Average Fair Value
Outstanding beginning balance (in dollars per share)	$ 19.08
Granted (in dollars per share)	22.18
Vested (in dollars per share)	20.15
Forfeited or Expired (In dollars per share)	22.05
Outstanding ending balance (in dollars per share)	$ 16.47	$ 19.08
Aggregate intrinsic value, Outstanding	$ 2	$ 21
Restricted Stock Units
Shares
Outstanding beginning balance (in shares)	1,044,269
Granted (in shares)	757,294
Vested (in shares)	(396,749)
Forfeited or Expired (in shares)	(622,758)
Outstanding ending balance (in shares)	782,056	1,044,269
Weighted- Average Fair Value
Outstanding beginning balance (in dollars per share)	$ 18.43
Granted (in dollars per share)	12.18
Vested (in dollars per share)	19.07
Forfeited or Expired (In dollars per share)	14.50
Outstanding ending balance (in dollars per share)	$ 15.11	$ 18.43
Aggregate intrinsic value, Outstanding	$ 1	$ 16

Stock-Based Compensation (Sum_5

Stock-Based Compensation (Summary of additional information pertaining to RSU activity) (Details) - Restricted Stock Units RSU and Performance Stock Units PSU - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of awards that vested	$ 8	$ 12	$ 5
Weighted average grant date fair value of awards (in dollars per share)	$ 12.18	$ 18.66	$ 17.40

Leases (Narrative) (Details)

Leases (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)lease
Lease and Concession Agreements
Remaining economic life of underlying asset	75.00%
Economic life of underlying asset	25.00%
Fair value of underlying asset	90.00%
Off airport leases rejected	359
Airport leases rejected	66
Rent Abatement And Payment Deferrals | Restructuring Plan Impact of C O V I D19
Lease and Concession Agreements
Decrease in rent expense from concessions, abatement and payment deferrals | $	$ 300
Minimum
Lease and Concession Agreements
Operating lease terms	1 month
Maximum
Lease and Concession Agreements
Operating lease terms	35 years

Leases (Leases Income) (Details

Leases (Leases Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Lease and Concession Agreements
Revenue accounted for under Topic 842	$ 4,989	$ 9,417
Revenue accounted for under Topic 606	269	362	$ 8,801
Total revenues	5,258	9,779	$ 9,504
Vehicle Rentals, Operating Lease
Lease and Concession Agreements
Revenue accounted for under Topic 842	4,320	8,579
Fleet Leasing, Operating Lease
Lease and Concession Agreements
Revenue accounted for under Topic 842	639	674
Variable, Operating Lease
Lease and Concession Agreements
Revenue accounted for under Topic 842	$ 30	$ 164

Leases (Lease Cost) (Details)

Leases (Lease Cost) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Leases [Abstract]
Short-term lease costs	$ 142	$ 130
Operating lease costs	527	545
Total	669	675	$ 577
Variable lease costs	23	326	438
Lease, cost	$ 692	$ 1,001	$ 1,015

Leases (Weighted-average Remain

Leases (Weighted-average Remaining Lease Term and Weighted-average Discount Rate) (Details)	Dec. 31, 2020
Leases [Abstract]
Weighted-average remaining lease term (in years)	9 years 6 months
Weighted-average discount rate	10.60%

Leases (Minimum Fixed Lease Obl

Leases (Minimum Fixed Lease Obligations Under Existing Agreements) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2021	$ 449
2022	386
2023	313
2024	248
2025	193
After 2025	1,061
Total lease payments	2,650
Interest	(1,014)
Operating lease liabilities at December 31, 2020	$ 1,636	$ 1,848

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2020
Restructuring Cost and Reserve [Line Items]
Charges incurred		$ 37
Restructuring Plan Impact of C O V I D19 | Employee Severance
Restructuring Cost and Reserve [Line Items]
Severance costs	$ 37
Other restructuring costs		7
Charges incurred		37
U.S. Rental Car Segment
Restructuring Cost and Reserve [Line Items]
Charges incurred		$ 34

Restructuring - Termination Cha

Restructuring - Termination Charges (Details) $ in Millions	12 Months Ended
	Dec. 31, 2020USD ($)
Restructuring Cost and Reserve [Line Items]
Charges incurred	$ 37
U.S. Rental Car Segment
Restructuring Cost and Reserve [Line Items]
Charges incurred	34
Corporate operations
Restructuring Cost and Reserve [Line Items]
Charges incurred	3
Direct vehicle and operating
Restructuring Cost and Reserve [Line Items]
Charges incurred	25
Selling, general and administrative
Restructuring Cost and Reserve [Line Items]
Charges incurred	$ 12

Restructuring - Accrued Liabili

Restructuring - Accrued Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Restructuring Reserve [Roll Forward]
Charges incurred	$ 37
Liabilities subject to compromise	(4,965)	$ 0
Restructuring Plan Impact of C O V I D19 | Employee Severance
Restructuring Reserve [Roll Forward]
Restructuring Reserve, Beginning Balance	1
Charges incurred	37
Cash payments	(29)
Liabilities subject to compromise	(7)
Other	(2)
Restructuring Reserve, Ending Balance	0
Other restructuring costs	$ 7

Income Tax (Provision) Benefi_2

Income Tax (Provision) Benefit (Schedule of Components of income Before Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Income Tax Contingency [Line Items]
Domestic	$ (1,692)	$ 28	$ (293)
Foreign	(360)	(15)	36
Income (loss) before income taxes	(2,052)	13	(257)
The Hertz Corporation
Income Tax Contingency [Line Items]
Domestic	(1,823)	35	(286)
Foreign	(360)	(15)	36
Income (loss) before income taxes	$ (2,183)	$ 20	$ (250)

Income Tax (Provision) Benefi_3

Income Tax (Provision) Benefit (Schedule of Total Provision for Taxes on Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Current:
Federal	$ 0	$ 0	$ (3)
Foreign	18	20	32
State and local	4	16	7
Total current	22	36	36
Deferred:
Federal	(356)	1	(66)
Foreign	35	(1)	11
State and local	(30)	27	(11)
Total deferred	(351)	27	(66)
Total provision	(329)	63	(30)
The Hertz Corporation
Deferred:
Federal	1	2	2
Total provision	$ (328)	$ 65	$ (28)

Income Tax (Provision) Benefi_4

Income Tax (Provision) Benefit (Schedule of Principal Items of the U.S. and Foreign Net Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Deferred tax assets:
Employee benefit plans	$ 44	$ 44
Net operating loss carry forwards	(828)	(2,386)
Federal and state tax credit carry forwards	55	43
Accrued and prepaid expenses	124	127
Operating lease liabilities	390	410
Total deferred tax assets	1,441	3,010
Less: valuation allowance	(651)	(396)
Total net deferred tax assets	790	2,614
Deferred tax liabilities:
Depreciation on tangible assets	(380)	(2,518)
Intangible assets	(723)	(738)
Operating lease right-of-use assets	(406)	(422)
Total deferred tax liabilities	(1,509)	(3,678)
Net deferred tax liability	(719)	(1,064)
The Hertz Corporation
Deferred tax assets:
Net operating loss carry forwards	(5)	(3)
Deferred tax liabilities:
Net deferred tax liability	(724)	$ (1,067)
State and Local Jurisdiction
Deferred tax assets:
Net operating loss carry forwards	(244)
Less: valuation allowance	$ (236)

Income Tax (Provision) Benefi_5

Income Tax (Provision) Benefit (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Loss Carryforwards [Line Items]
AMT Tax Credits and other	$ 20
Statutory federal tax rate		21.00%	21.00%	35.00%
Deferred tax assets	828	$ 2,386
Valuation allowance recorded against deferred tax assets	651	396
Unrecognized tax benefits	53	48	$ 49	$ 43
Unrecognized tax benefits that would impact effective tax rate	36
Unrecognized tax benefits that would impact effective tax rate, net	4
Decrease Unrecognized Tax Benefits	25
Net, after-tax interest and penalties recognized	1	0.4	$ 1
Net, after-tax interest and penalties accrued	9	8
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
AMT Tax Credits and other	23
NOL carry forwards	1,200
Deferred tax assets	252
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
AMT Tax Credits and other	31
NOL carry forwards	4,100
Deferred tax assets	244
Operating loss carryforwards, with indefinite utilization period	550
Valuation allowance recorded against deferred tax assets	236
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
NOL carry forwards	1,300
Deferred tax assets	332
Operating loss carryforwards, with indefinite utilization period	1,100
NOL carry forward, valuation allowance	303
Tax credit, valuation allowance	1
The Hertz Corporation
Operating Loss Carryforwards [Line Items]
Deferred tax assets	$ 5	$ 3

Income Tax (Provision) Benefi_6

Income Tax (Provision) Benefit (Schedule of Significant Items in the Reconciliation of the Statutory and Effective Income Tax Rates) (Details)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Statutory federal tax rate		21.00%	21.00%	35.00%
Foreign tax rate differential	0.00%	(31.00%)	(1.00%)
State and local income taxes, net of federal income tax benefit	5.00%	(102.00%)	7.00%
Change in state apportionment and statutory rates, net of federal income tax benefit	1.00%	(17.00%)	1.00%
Tax reform	0.00%	0.00%	(9.00%)
Federal and foreign permanent differences	0.00%	(3.00%)	0.00%
Withholding taxes	0.00%	62.00%	(3.00%)
Uncertain tax positions	0.00%	29.00%	(3.00%)
Change in valuation allowance	(11.00%)	591.00%	(5.00%)
Change in foreign statutory rates	0.00%	15.00%	(3.00%)
Tax credits	0.00%	(75.00%)	7.00%
Stock option shortfalls	0.00%	7.00%	(1.00%)
All other items, net	0.00%	3.00%	1.00%
Effective tax rate - Hertz Global	16.00%	500.00%	12.00%
The Hertz Corporation
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Tax reform	(1.00%)	(174.00%)	(1.00%)
Effective tax rate - Hertz Global	15.00%	326.00%	11.00%

Income Tax (Provision) Benefi_7

Income Tax (Provision) Benefit (Reconciliation of the Beginning and Ending Amounts of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance as of January 1	$ 48	$ 49	$ 43
Increase (decrease) attributable to tax positions taken during prior periods	5	5	3
Increase (decrease) attributable to tax positions taken during the current year	1	1	5
Decrease attributable to settlements with taxing authorities	(1)	(7)	(2)
Balance as of December 31	$ 53	$ 48	$ 49

Fair Value Measurements (Cash E

Fair Value Measurements (Cash Equivalents and Investments) (Details) - Recurring - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 723	$ 531
Cash equivalents | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	723	531
Cash equivalents | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Cash equivalents | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	74
Marketable securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	74
Marketable securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Marketable securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Fair Value Measurements (Debt O

Fair Value Measurements (Debt Obligations) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Feb. 29, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	$ 2,700	$ 200	$ 2,700
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	10,834		17,170
Aggregate Fair Value	9,403		17,369
Non-vehicle
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	243		3,721
Non-vehicle | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	4,747		3,755
Aggregate Fair Value	3,382		3,840
Vehicle | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	6,087		13,415
Aggregate Fair Value	$ 6,021		$ 13,529

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	$ 1,888	$ 1,120
Other comprehensive income (loss) before reclassification	(34)	(6)
Amounts reclassified from accumulated other comprehensive income (loss)	11	9
Ending Balance	93	1,888
Pension and Other Post-Employment Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(118)	(115)
Other comprehensive income (loss) before reclassification	(15)	(12)
Amounts reclassified from accumulated other comprehensive income (loss)	11	9
Ending Balance	(122)	(118)
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(52)	(58)
Other comprehensive income (loss) before reclassification	(19)	6
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Ending Balance	(71)	(52)
Unrealized Losses from Currency Translation Adjustments on Terminated Net Investment Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(19)	(19)
Other comprehensive income (loss) before reclassification	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Ending Balance	(19)	(19)
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Beginning Balance	(189)	(192)
Ending Balance	$ (212)	$ (189)

Contingencies and Off-Balance_2

Contingencies and Off-Balance Sheet Commitments (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Liability recorded for public liability and property damage matters	$ 488	$ 553
Net proceeds from repayment or recovery, percent	15.00%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Millions	1 Months Ended	5 Months Ended	12 Months Ended
	May 31, 2018	May 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Jun. 30, 2020	May 23, 2020	Jun. 30, 2019
Affiliated Entity
Related Party Transaction [Line Items]
Purchases from related party		$ 23		$ 57	$ 39
767 Auto Leasing, LLC
Related Party Transaction [Line Items]
Operating lease terms			22 months
Lease renewal term			6 months
Master Loan Agreement
Related Party Transaction [Line Items]
Due from affiliates						$ 133
Master Loan Agreement | Affiliated Entity
Related Party Transaction [Line Items]
Due from affiliates			$ 1	129
Tax Related Liability
Related Party Transaction [Line Items]
Due from affiliates			$ 65	65
Master Motor Vehicle Lease and Management Agreement | 767 Auto Leasing, LLC
Related Party Transaction [Line Items]
Operating income or loss, percent			25.00%
Master Loan Agreement Due May2021
Related Party Transaction [Line Items]
Due from affiliates							$ 25
Sale of Marketable Securities | Affiliated Entity
Related Party Transaction [Line Items]
Marketable securities	$ 36
Hertz Global Holdings
Related Party Transaction [Line Items]
Due from affiliates								$ 425
Contributions from (distributions to) noncontrolling interests			$ 0	(750)	$ 0
767 Auto Leasing, LLC | American Entertainment Properties Corp
Related Party Transaction [Line Items]
Payments of distributions to affiliates			$ (75)
Contributions from (distributions to) noncontrolling interests				$ 49
767 Auto Leasing, LLC | Master Motor Vehicle Lease and Management Agreement
Related Party Transaction [Line Items]
Operating income or loss, percent			25.00%

Equity and Earnings (Loss) Pe_3

Equity and Earnings (Loss) Per Share - Hertz Global (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 18, 2019	Jun. 12, 2019	Jun. 18, 2020	Dec. 31, 2020	Dec. 31, 2019	Jun. 30, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Preferred Stock, shares authorized					40,000,000
Common stock, par value (in dollars per share)				$ 0.01	$ 0.01
Treasury stock, shares				2,028,932	2,028,932
Treasury stock				$ 100	$ 100
Contributions from hertz holdings		$ 750		$ 29	$ 748
Rights offering, net (in shares)	57,915,055
ATM Program
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Contributions from hertz holdings			$ 28
Common stock, value, subscriptions						$ 500
Rights offering, net (in shares)			13,912,368
Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, shares subscribed but unissued		57,915,055
Hertz Global Holdings
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Preferred Stock, shares authorized				40,000,000
Preferred stock, par value (in dollars per share)				$ 0.01	$ 0.01
Common stock, shares authorized				400,000,000	400,000,000
Common stock, par value (in dollars per share)				$ 0.01	$ 0.01
Treasury stock, shares				2,028,932	2,028,932
Treasury stock				$ 100	$ 100

Equity and Earnings (Loss) Pe_4

Equity and Earnings (Loss) Per Share - Hertz Global (Computation of basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, $ in Millions	Jul. 18, 2019	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net income (loss) attributable to Hertz Global		$ (1,714)	$ (58)	$ (225)
Denominator:
Basic weighted-average shares outstanding (excluding the impact of the Rights Offering) (in shares)		150,000,000	84,000,000	84,000,000
Rights Offering adjustment (in shares)		0	33,000,000	12,000,000
Basic weighted-average shares outstanding (in shares)		150,000,000	117,000,000	96,000,000
Dilutive stock options, RSUs and PSUs (in shares)		0	0		0
Diluted weighted-average shares outstanding (in shares)		150,000,000	117,000,000	96,000,000
Antidilutive stock options, RSUs, PSUs and conversion shares (in shares)		2,000,000	2,000,000	1,000,000
Earnings (loss) per share:
Basic earnings (loss) per share (in dollars per share)		$ (11.44)	$ (0.49)	$ (2.35)
Diluted earnings (loss) per share (in dollars per share)		$ (11.44)	$ (0.49)	$ (2.35)
Rights offering, net (in shares)	57,915,055

Segment Information (Reportable

Segment Information (Reportable Segments to Consolidated) (Details) $ in Millions		Jun. 12, 2019USD ($)	Dec. 31, 2020USD ($)segment		Dec. 31, 2019USD ($)		Dec. 31, 2018USD ($)
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Number of reportable segments | segment			3
Revenues			$ 5,258		$ 9,779		$ 9,504
Depreciation of revenue earning vehicles and lease charges			2,032		2,565		2,690
Depreciation and amortization, non-vehicle assets			225		203		218
Interest expense, net			608		805		739
Adjusted pretax income			(995)		649		433
Revenue earning vehicles, net			6,062		13,789
Property and equipment, net			666		757
Total assets at end of year	[1]		16,908		24,627
Revenue earning vehicles, net			37		322
Assets held for sale			1,811		0
Stock issued amount		$ 750	29		748
Assets Held For Sale
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenue earning vehicles, net			7,494		13,789
Property and equipment, net			672		757
U.S. plan
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues			4,271		7,596		7,211
Revenue earning vehicles, net			4,974		11,424
Property and equipment, net			570		658
Total assets at end of year			13,732		19,876
Outside United States
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues			987		2,183		2,293
Revenue earning vehicles, net			1,088		2,365
Property and equipment, net			96		99
Total assets at end of year			3,176		4,751
The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues			5,258		9,779		9,504
Depreciation of revenue earning vehicles and lease charges			2,032		2,565		2,690
Depreciation and amortization, non-vehicle assets			225		203		218
Interest expense, net			606		798		732
Adjusted pretax income			(995)		649		433
Revenue earning vehicles, net			6,062		13,789
Property and equipment, net			666		757
Total assets at end of year			16,880	[2]	24,627	[2]	24,627
Revenue earning vehicles, net			1,432
Property and equipment, net			6
Assets held for sale			1,811		0
The Hertz Corporation | U.S. plan
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Total assets at end of year			(28)				0
Assets held for sale			1,800
The Hertz Corporation | Outside United States
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Assets held for sale			48
Operating Segments
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pretax income			(946)		727		539
Operating Segments | The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pretax income			(946)		727		539
Operating Segments | U.S. Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues			3,656		6,938		6,480
Depreciation of revenue earning vehicles and lease charges			1,323		1,656		1,678
Depreciation and amortization, non-vehicle assets			179		156		159
Interest expense, net			253		157		144
Adjusted pretax income			(791)		480		226
Total assets at end of year			11,042		16,459
Revenue earning vehicles and non-vehicle capital assets
Expenditures			(3,957)		(9,384)		(8,597)
Proceeds from disposals			7,752		6,306		5,570
Net expenditures - Hertz Global and Hertz			3,795		(3,078)		(3,027)
Operating Segments | U.S. Rental Car | Assets Held For Sale
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenue earning vehicles, net			4,974		9,820
Property and equipment, net			472		541
Operating Segments | U.S. Rental Car | The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pretax income			(791)		480		226
Operating Segments | International Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues			972		2,169		2,276
Depreciation of revenue earning vehicles and lease charges			274		440		448
Depreciation and amortization, non-vehicle assets			22		23		32
Interest expense, net			86		93		113
Adjusted pretax income			(248)		147		231
Total assets at end of year			2,956		4,563
Revenue earning vehicles and non-vehicle capital assets
Expenditures			(1,032)		(3,401)		(3,191)
Proceeds from disposals			2,068		2,854		2,755
Net expenditures - Hertz Global and Hertz			1,036		(547)		(436)
Operating Segments | International Rental Car | Assets Held For Sale
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenue earning vehicles, net			1,088		2,319
Property and equipment, net			96		99
Operating Segments | International Rental Car | The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pretax income			(248)		147		231
Operating Segments | All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues			630		672		748
Depreciation of revenue earning vehicles and lease charges			435		469		564
Depreciation and amortization, non-vehicle assets			10		10		10
Interest expense, net			40		31		27
Adjusted pretax income			93		100		82
Total assets at end of year			1,818		2,115
Revenue earning vehicles and non-vehicle capital assets
Expenditures			(615)		(1,043)		(807)
Proceeds from disposals			335		352		176
Net expenditures - Hertz Global and Hertz			(280)		(691)		(631)
Operating Segments | All Other Operations | Assets Held For Sale
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenue earning vehicles, net			1,432		1,650
Property and equipment, net			6		7
Operating Segments | All Other Operations | The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pretax income			93		100		82
Corporate
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Depreciation and amortization, non-vehicle assets			14		14		17
Interest expense, net			229		524		455
Adjusted pretax income			(49)		(78)		(106)
Total assets at end of year			1,092		1,490
Revenue earning vehicles and non-vehicle capital assets
Expenditures			(36)		(110)		(75)
Proceeds from disposals			3		1		2
Net expenditures - Hertz Global and Hertz			(33)		(109)		(73)
Corporate | Assets Held For Sale
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Property and equipment, net			98		110
Corporate | The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Interest expense, net			(2)		(7)		(7)
Adjusted pretax income			(49)		(78)		$ (106)
Total assets at end of year			$ (28)		$ 0
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of December 31, 2020 and December 31, 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of December 31, 2020 and December 31, 2019 include total liabilities of VIEs of $475 million and $1.1 billion, 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 "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information.
[2]	The Hertz Corporation's consolidated total assets as of December 31, 2020 and December 31, 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of December 31, 2020 and December 31, 2019 include total liabilities of VIEs of $475 million and $1.1 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information.

Segment Information (Pre-tax In

Segment Information (Pre-tax Income) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenue earning equipment
Adjusted pretax income		$ (995)	$ 649	$ 433
Income (loss) before income taxes		$ (2,052)	13	$ (257)
European Fleet Notes, 4.375 Percent, Due January 2019 [Member]
Revenue earning equipment
Interest rate		4.375%
European Securitization, Due January 2019
Revenue earning equipment
Interest rate				4.375%
Non cash debt charges
Revenue earning equipment
Income (loss) before income taxes		$ (50)	(38)	$ (36)
Loss on extinguishment of vehicle debt
Revenue earning equipment
Income (loss) before income taxes		(5)	0	(22)
Restructuring and restructuring related charges
Revenue earning equipment
Income (loss) before income taxes		(64)	(14)	(32)
Intangible and other asset impairments
Revenue earning equipment
Income (loss) before income taxes		(213)	0	0
Information technology and finance transformation costs
Revenue earning equipment
Income (loss) before income taxes		(42)	(114)	(98)
Reorganization items, net
Revenue earning equipment
Income (loss) before income taxes		(175)	0	0
Pre-reorganization charges and non-debtor financing charges
Revenue earning equipment
Income (loss) before income taxes		(109)	0	0
Other items
Revenue earning equipment
Income (loss) before income taxes		(21)	44	7
U.S. Rental Car
Revenue earning equipment
Impairment of indefinite-lived intangible assets	$ 193	20
Operating Segments
Revenue earning equipment
Adjusted pretax income		(946)	727	539
Operating Segments | U.S. Rental Car
Revenue earning equipment
Adjusted pretax income		(791)	480	226
Operating Segments | International Rental Car
Revenue earning equipment
Adjusted pretax income		(248)	147	231
Operating Segments | All Other Operations
Revenue earning equipment
Adjusted pretax income		93	100	82
Corporate
Revenue earning equipment
Adjusted pretax income		(49)	(78)	(106)
The Hertz Corporation
Revenue earning equipment
Adjusted pretax income		(995)	649	433
Income (loss) before income taxes		(2,183)	20	(250)
The Hertz Corporation | Donlen Canadian Securitization
Revenue earning equipment
Proceeds from sale of productive assets		16
The Hertz Corporation | Non cash debt charges
Revenue earning equipment
Income (loss) before income taxes		(50)	(38)	(36)
The Hertz Corporation | Loss on extinguishment of vehicle debt
Revenue earning equipment
Income (loss) before income taxes		(5)	0	(22)
The Hertz Corporation | Restructuring and restructuring related charges
Revenue earning equipment
Income (loss) before income taxes		(64)	(14)	(32)
The Hertz Corporation | Intangible and other asset impairments
Revenue earning equipment
Income (loss) before income taxes		(213)	0	0
The Hertz Corporation | Write-off of intercompany loan
Revenue earning equipment
Income (loss) before income taxes		(133)	0	0
The Hertz Corporation | Information technology and finance transformation costs
Revenue earning equipment
Income (loss) before income taxes		(42)	(114)	(98)
The Hertz Corporation | Reorganization items, net
Revenue earning equipment
Income (loss) before income taxes		(175)	0	0
The Hertz Corporation | Pre-reorganization charges and non-debtor financing charges
Revenue earning equipment
Income (loss) before income taxes		(109)	0	0
The Hertz Corporation | Other items
Revenue earning equipment
Income (loss) before income taxes		(21)	44	7
Proceeds from sale of productive assets			30	20
The Hertz Corporation | Operating Segments
Revenue earning equipment
Adjusted pretax income		(946)	727	539
The Hertz Corporation | Operating Segments | U.S. Rental Car
Revenue earning equipment
Adjusted pretax income		(791)	480	226
The Hertz Corporation | Operating Segments | International Rental Car
Revenue earning equipment
Adjusted pretax income		(248)	147	231
The Hertz Corporation | Operating Segments | All Other Operations
Revenue earning equipment
Adjusted pretax income		93	100	82
The Hertz Corporation | Corporate
Revenue earning equipment
Adjusted pretax income		(49)	(78)	(106)
Fair Value, Measurements, Nonrecurring | Brazil Operations | The Hertz Corporation | Other items
Revenue earning equipment
Gain (loss) on disposal				6
Non-vehicle Capital Assets | The Hertz Corporation | Other items
Revenue earning equipment
Proceeds from sale of productive assets			39
Vehicle Damages | The Hertz Corporation | Other items
Revenue earning equipment
Proceeds from sale of productive assets		18
Non-vehicle | Non-vehicle depreciation and amortization
Revenue earning equipment
Income (loss) before income taxes		(225)	(203)	(218)
Non-vehicle | Non cash debt charges
Revenue earning equipment
Income (loss) before income taxes		(153)	(311)	(291)
Non-vehicle | The Hertz Corporation | Non-vehicle depreciation and amortization
Revenue earning equipment
Income (loss) before income taxes		(225)	(203)	(218)
Non-vehicle | The Hertz Corporation | Non cash debt charges
Revenue earning equipment
Income (loss) before income taxes		(151)	$ (304)	(284)
Vehicle | The Hertz Corporation | Non-vehicle debt interest, net | European Fleet Notes, 4.375 Percent, Due January 2019 [Member]
Revenue earning equipment
Income (loss) before income taxes		$ (5)		$ (20)

Liabilities Subject to Compro_3

Liabilities Subject to Compromise (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Fresh-Start Adjustment [Line Items]
Accounts payable	$ 267
Accrued liabilities	166
Accrued taxes, net	19
Accrued interest on debt subject to compromise	70
Debt subject to compromise	4,443
Liabilities subject to compromise	4,965	$ 0
The Hertz Corporation
Fresh-Start Adjustment [Line Items]
Liabilities subject to compromise	5,030	$ 0
Due from Affiliate - Hertz	$ 65

Reorganizations (Details)

Reorganizations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Entity Information [Line Items]
Reorganization items, net	$ 175	$ 0	$ 0
Accrued Liabilities
Entity Information [Line Items]
Reorganization items, net	46
Payment of professional fees	102
Accounts Payable
Entity Information [Line Items]
Reorganization items, net	$ 19

Condensed Combined Debtor-in-_3

Condensed Combined Debtor-in-Possession Financial Information (Balance Sheet) (Details) - USD ($) $ in Millions		Dec. 31, 2020		Dec. 31, 2019		Dec. 31, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents		$ 1,096		$ 865
Restricted cash and cash equivalents		411		495
Total cash, cash equivalents, restricted cash and restricted cash equivalents		1,507		1,360		$ 1,410	$ 1,504
Receivables, net of allowance		777		1,840
Prepaid expenses and other assets		373		689
Revenue earning vehicles, net		6,062		13,789
Property and equipment, net		666		757
Operating lease right-of-use assets		1,675		1,871
Intangible assets, net		2,992		3,238
Goodwill		1,045		1,083		1,083
Assets held for sale		1,811		0
Total assets	[1]	16,908		24,627
LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)
Accounts payable		418		943
Accrued liabilities		759		1,032
Accrued taxes, net		121		150
Debt		6,267		17,089
Operating lease liabilities		1,636		1,848
Self-insured liabilities		488		553
Deferred income taxes, net		730		1,124
Total liabilities not subject to compromise		10,419		22,739
Liabilities subject to compromise		4,965		0
Liabilities held for sale		1,431		0
Total liabilities	[1]	16,815		22,739
Stockholder's equity:
Total stockholder's equity attributable to Hertz				1,769
Total liabilities and stockholder's equity (deficit)		16,908		24,627
Hertz Global Holdings and Subsidiaries in Bankruptcy Proceedings
ASSETS
Cash and cash equivalents		492
Restricted cash and cash equivalents		305
Total cash, cash equivalents, restricted cash and restricted cash equivalents		797		526
Receivables, net of allowance		388
Due from non-debtor affiliates		51,638
Prepaid expenses and other assets		183
Revenue earning vehicles, net		37
Property and equipment, net		549
Operating lease right-of-use assets		1,424
Investment in subsidiaries, net		4,527
Intangible assets, net		2,988
Goodwill		488
Assets held for sale		173
Total assets		63,192
LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)
Accounts payable		200
Accrued liabilities		412
Accrued taxes, net		48
Debt		242
Operating lease liabilities		1,385
Self-insured liabilities		251
Deferred income taxes, net		887
Total liabilities not subject to compromise		3,425
Liabilities subject to compromise		59,637
Liabilities held for sale		74
Total liabilities		63,136
Stockholder's equity:
Total stockholder's equity attributable to Hertz		56
Total liabilities and stockholder's equity (deficit)		63,192
The Hertz Corporation
ASSETS
Cash and cash equivalents		1,096		865
Restricted cash and cash equivalents		383		495
Total cash, cash equivalents, restricted cash and restricted cash equivalents		1,479		1,360		1,410	$ 1,504
Receivables, net of allowance		777		1,840
Prepaid expenses and other assets		372		689
Revenue earning vehicles, net		6,062		13,789
Property and equipment, net		666		757
Intangible assets, net		2,992		3,238
Goodwill		1,045		1,083
Assets held for sale		1,811		0
Total assets		16,880	[2]	24,627	[2]	$ 24,627
LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT)
Accounts payable		418		943
Accrued liabilities		759		1,032
Accrued taxes, net		121		150
Debt		6,267		17,089
Self-insured liabilities		488		553
Deferred income taxes, net		735		1,128
Total liabilities not subject to compromise		10,424		22,743
Liabilities subject to compromise		5,030		0
Liabilities held for sale		1,431		0
Total liabilities	[2]	16,885		22,743
Stockholder's equity:
Total stockholder's equity attributable to Hertz		(42)		1,765
Total liabilities and stockholder's equity (deficit)		$ 16,880		$ 24,627
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of December 31, 2020 and December 31, 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of December 31, 2020 and December 31, 2019 include total liabilities of VIEs of $475 million and $1.1 billion, 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 "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information.
[2]	The Hertz Corporation's consolidated total assets as of December 31, 2020 and December 31, 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of December 31, 2020 and December 31, 2019 include total liabilities of VIEs of $475 million and $1.1 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information.

Condensed Combined Debtor-in-_4

Condensed Combined Debtor-in-Possession Financial Information (Statement of Operations and Comprehensive Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Total revenues	$ 5,258	$ 9,779	$ 9,504
Expenses:
Direct vehicle and operating	3,627	5,486	5,355
Depreciation of revenue earning vehicles and lease charges	2,032	2,565	2,690
Selling, general and administrative	664	969	1,017
Interest expense, net	608	805	739
Intangible and other asset impairments	213	0	0
Other (income) expense, net	(9)	(59)	(40)
Reorganization items, net	175	0	0
Total expenses	7,310	9,766	9,761
Income (loss) before income taxes and equity in earnings (losses) of subsidiaries	(2,052)	13	(257)
Income tax (provision) benefit	329	(63)	30
Net (income) loss attributable to noncontrolling interests	9	(8)	2
Total comprehensive income (loss)	(1,746)	(47)	(290)
Comprehensive income (loss) attributable to Hertz Global	(1,737)	$ (55)	$ (288)
Hertz Global Holdings and Subsidiaries in Bankruptcy Proceedings
Condensed Financial Statements, Captions [Line Items]
Total revenues	3,593
Expenses:
Direct vehicle and operating	2,896
Depreciation of revenue earning vehicles and lease charges	2,970
Selling, general and administrative	492
Interest expense, net	(122)
Intangible and other asset impairments	213
Other (income) expense, net	35
Reorganization items, net	175
Total expenses	6,833
Income (loss) before income taxes and equity in earnings (losses) of subsidiaries	(3,240)
Income tax (provision) benefit	(710)
Equity in earnings (losses) of subsidiaries, net of tax	816
Net (income) loss attributable to noncontrolling interests	1,714
Total comprehensive income (loss)	(23)
Comprehensive income (loss) attributable to Hertz Global	$ (1,737)

Condensed Combined Debtor-in-_5

Condensed Combined Debtor-in-Possession Financial Information (Statement of Cash Flows) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 953	$ 2,900	$ 2,556
Cash flows from investing activities:
Revenue earning vehicles expenditures	(5,542)	(13,714)	(12,493)
Proceeds from disposal of revenue earning vehicles	10,098	9,486	8,452
Non-vehicle capital asset expenditures	(98)	(224)	(177)
Proceeds from non-vehicle capital assets disposed of or to be disposed of	60	27	51
Sales of marketable securities	74	0	36
Net cash provided by (used in) investing activities	4,591	(4,425)	(4,197)
Cash flows from financing activities:
Payment of financing costs	(75)	(53)	(47)
Proceeds from the issuance of stock, net	28	0	0
Other	(2)	(3)	(2)
Net cash provided by (used in) financing activities	(5,372)	1,474	1,561
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	46	1	(14)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	218	(50)	(94)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	1,360	1,410	1,504
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	1,507	1,360	$ 1,410
Hertz Global Holdings and Subsidiaries in Bankruptcy Proceedings
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(738)
Cash flows from investing activities:
Revenue earning vehicles expenditures	(478)
Proceeds from disposal of revenue earning vehicles	594
Non-vehicle capital asset expenditures	(79)
Proceeds from non-vehicle capital assets disposed of or to be disposed of	48
Sales of marketable securities	74
Capital contributions to non-debtor entities	(835)
Return of capital from non-debtor entities	838
Loan to non-debtor entity	(180)
Loan repayment from non-debtor entity	189
Net cash provided by (used in) investing activities	171
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	321
Repayments of vehicle debt	(467)
Proceeds from issuance of non-vehicle debt	1,812
Payment of financing costs	(855)
Proceeds from the issuance of stock, net	28
Other	(2)
Net cash provided by (used in) financing activities	837
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	1
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	271
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	526
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$ 797	$ 526

SCHEDULE I CONDENSED FINANCIA_2

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Balance Sheet) (Details) - USD ($) $ / shares in Units, $ in Millions		Dec. 31, 2020	Dec. 31, 2019
ASSETS
Prepaid expenses and other assets		$ 373	$ 689
Total assets	[1]	16,908	24,627
LIABILITIES AND STOCKHOLDERS' EQUITY
Total liabilities	[1]	16,815	22,739
Stockholder's equity:
Preferred Stock		0	0
Common Stock			1
Additional paid-in capital			3,024
Accumulated deficit			(967)
Accumulated other comprehensive income (loss)			(189)
Treasury stock		(100)	(100)
Stockholder's equity (deficit) attributable to Hertz			1,769
Total liabilities and stockholder's equity (deficit)		$ 16,908	$ 24,627
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		158,235,410	144,153,444
Common stock, shares outstanding		156,206,478	142,124,512
Treasury stock, shares		2,028,932	2,028,932
Hertz Global Holdings
ASSETS
Restricted cash and restricted cash equivalents		$ 28	$ 0
Prepaid expenses and other assets		1	0
Investments in subsidiaries, net		0	1,765
Deferred income taxes, net		5	4
Due from Hertz Holdings		65	0
Total assets		99	1,769
LIABILITIES AND STOCKHOLDERS' EQUITY
Due to affiliates		1	0
Investments In Subsidiaries, Net		42	0
Total liabilities		43	0
Stockholder's equity:
Preferred Stock		0	0
Common Stock		2	1
Additional paid-in capital		3,047	3,024
Accumulated deficit		(2,681)	(967)
Accumulated other comprehensive income (loss)		(212)	(189)
Equity before treasury stock		156	1,869
Treasury stock		(100)	(100)
Stockholder's equity (deficit) attributable to Hertz		56	1,769
Total liabilities and stockholder's equity (deficit)		$ 99	$ 1,769
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		158,235,410	144,153,444
Common stock, shares outstanding		156,206,478	142,124,512
Treasury stock, shares		2,028,932	2,028,932
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of December 31, 2020 and December 31, 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of December 31, 2020 and December 31, 2019 include total liabilities of VIEs of $475 million and $1.1 billion, 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 "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information.

SCHEDULE I CONDENSED FINANCIA_3

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Statement of Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Total revenues	$ 5,258	$ 9,779	$ 9,504
Expenses:
Interest expense, net	608	805	739
Total expenses	7,310	9,766	9,761
Income (loss) before income taxes	(2,052)	13	(257)
Income tax (provision) benefit	329	(63)	30
Net income (loss)	(1,723)	(50)	(227)
Hertz Global Holdings
Condensed Financial Statements, Captions [Line Items]
Total revenues	0	0	0
Expenses:
Interest expense, net	2	7	7
Write-off of intercompany loan	(133)	0	0
Total expenses	(131)	7	7
Income (loss) before income taxes	131	(7)	(7)
Income tax (provision) benefit	1	2	2
Equity in earnings (losses) of subsidiaries, net of tax	(1,846)	(53)	(220)
Net income (loss)	$ (1,714)	$ (58)	$ (225)

SCHEDULE I CONDENSED FINANCIA_4

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Comprehensive Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Condensed Financial Statements, Captions [Line Items]
Net income (loss) attributable to Hertz Global	$ (1,723)	$ (50)	$ (227)
Total other comprehensive income (loss)	(23)	3	(63)
Total comprehensive income (loss)	(1,746)	(47)	(290)
Hertz Global Holdings
Condensed Financial Statements, Captions [Line Items]
Net income (loss) attributable to Hertz Global	(1,714)	(58)	(225)
Total other comprehensive income (loss)	(23)	3	(63)
Total comprehensive income (loss)	$ (1,737)	$ (55)	$ (288)

SCHEDULE I CONDENSED FINANCIA_5

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Cash Flows) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows from financing activities:
Proceeds from Rights Offering, net	$ 0	$ 748	$ 0
Proceeds from issuance of stock, net	28	0	0
Other	(2)	(3)	(2)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	1,360	1,410	1,504
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	1,507	1,360	1,410
Hertz Global Holdings
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(3)	(7)
Cash flows from financing activities:
Proceeds from loans with Hertz	5	12	9
Proceeds from Rights Offering, net	0	748	0
Contributions to Hertz	0	(750)	0
Proceeds from issuance of stock, net	28	0	0
Other	(2)	(3)	(2)
Net cash provided by (used in) financing activities	31	7	7
Net increase (decrease) in cash and cash equivalents during the period	28	0	0
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	0	0	0
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$ 28	$ 0	$ 0

SCHEDULE I CONDENSED FINANCIA_6

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Dividends) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Hertz Global Holdings
Condensed Financial Statements, Captions [Line Items]
Dividends	$ 0	$ 0	$ 0
The Hertz Corporation
Condensed Financial Statements, Captions [Line Items]
Dividends	$ 0	$ 0	$ 0

SCHEDULE I CONDENSED FINANCIA_7

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Share Repurchase) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Condensed Financial Information Disclosure [Abstract]
Treasury stock, shares	2,028,932	2,028,932
Treasury stock	$ 100	$ 100

SCHEDULE I CONDENSED FINANCIA_8

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Transactions with Affiliates and Investments in Subsidiaries) (Details) - USD ($) $ in Millions	Dec. 31, 2020	Dec. 31, 2019
Condensed Financial Statements, Captions [Line Items]
Total stockholder's equity attributable to Hertz		$ 1,769
The Hertz Corporation
Condensed Financial Statements, Captions [Line Items]
Total stockholder's equity attributable to Hertz	$ (42)	$ 1,765

SCHEDULE II VALUATION AND QUA_2

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Receivables allowances:
Valuation Allowance for Impairment of Recognized Servicing Assets [Roll Forward]
Balance at Beginning of Period	$ 35	$ 27	$ 33
Additions, Charged to Expense	94	53	35
Additions, Translation Adjustments	0	0	(1)
Deductions	(83)	(45)	(40)
Balance at End of Period	46	35	27
Tax valuation allowances:
Valuation Allowance for Impairment of Recognized Servicing Assets [Roll Forward]
Balance at Beginning of Period	396	318	305
Additions, Charged to Expense	218	75	21
Additions, Translation Adjustments	37	3	1
Deductions	0	0	(9)
Balance at End of Period	$ 651	$ 396	$ 318