Hertz Global (HTZ) 10-Q 1 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 25, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-37665
Entity Registrant Name	HERTZ GLOBAL HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
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
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Bankruptcy Proceedings, Reporting Current	true
Entity Common Stock, Shares Outstanding		306,506,797
Entity Central Index Key	0001657853
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	HTZ
Security Exchange Name	NASDAQ
Warrants
Entity Information [Line Items]
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	HTZWW
Security Exchange Name	NASDAQ
The Hertz Corporation
Entity Information [Line Items]
Entity File Number	001-07541
Entity Registrant Name	THE HERTZ CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-1938568
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
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
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	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false

HGH - CONDENSED CONSOLIDATED BA

HGH - CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents		$ 568	$ 764
Total restricted cash and cash equivalents		426	442
Total cash and cash equivalents and restricted cash and cash equivalents		994	1,206
Receivables		1,267	1,191
Prepaid expenses and other assets		754	726
Revenue earning vehicles:
Vehicles		18,122	16,806
Less: accumulated depreciation		(2,753)	(2,155)
Revenue earning vehicles, net		15,369	14,651
Property and equipment, net		670	671
Operating lease right-of-use assets		2,229	2,253
Intangible assets, net		2,858	2,863
Goodwill		1,044	1,044
Total assets	[1]	25,185	24,605
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		995	701
Accrued liabilities		931	860
Accrued taxes, net		208	157
Debt		17,369	15,691
Public Warrants		203	453
Operating lease liabilities		2,108	2,142
Self-insured liabilities		501	471
Deferred income taxes, net		912	1,038
Total liabilities	[1]	23,227	21,513
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, no shares issued and outstanding		0	0
Common stock, $0.01 par value, 481,250,923 and 479,990,286 shares issued, respectively, and 306,438,879 and 305,178,242 shares outstanding, respectively		5	5
Treasury stock, at cost, 174,812,044 and 174,812,044 common shares, respectively		(3,430)	(3,430)
Additional paid-in capital		6,365	6,405
Retained earnings (Accumulated deficit)		(691)	360
Accumulated other comprehensive income (loss)		(291)	(248)
Total stockholder's equity		1,958	3,092
Total liabilities and stockholders' equity		25,185	24,605
Vehicles
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		429	191
Debt		12,774	12,242
Non Vehicle Debt
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		566	510
Debt		4,595	3,449
Vehicles
ASSETS
Total restricted cash and cash equivalents		137	152
Receivables		164	211
Non-vehicle
ASSETS
Total restricted cash and cash equivalents		289	290
Receivables		$ 1,103	$ 980
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2024 and December 31, 2023 include total assets of variable interest entities (“VIEs”) of $1.8 billion and $1.7 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2024 and December 31, 2023 include total liabilities of VIEs of $1.8 billion and $1.7 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Pledges Related to Vehicle Financing" in Note 6, "Debt," for further information.

HGH - CONDENSED CONSOLIDATED _2

HGH - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Preferred stock, par value (in dollars per share)		$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)		0	0
Preferred stock, shares outstanding (in shares)		0	0
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares issued (in shares)		481,250,923	479,990,286
Ending balance (in shares)		306,438,879	305,178,242
Treasury stock, common (in shares)		174,812,044	174,812,044
Total assets	[1]	$ 25,185	$ 24,605
Total liabilities	[1]	23,227	21,513
Variable Interest Entity, Primary Beneficiary
Total assets		1,800	1,700
Total liabilities		1,800	1,700
Non-vehicle
Accounts receivable, allowance for credit loss		$ 53	$ 47
The Hertz Corporation
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares issued (in shares)		100	100
Ending balance (in shares)		100	100
Total assets	[2]	$ 25,185	$ 24,604
Total liabilities	[2]	23,028	21,061
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Total assets		1,800	1,700
Total liabilities		1,800	1,700
The Hertz Corporation | Non-vehicle
Accounts receivable, allowance for credit loss		$ 53	$ 47
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2024 and December 31, 2023 include total assets of variable interest entities (“VIEs”) of $1.8 billion and $1.7 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2024 and December 31, 2023 include total liabilities of VIEs of $1.8 billion and $1.7 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Pledges Related to Vehicle Financing" in Note 6, "Debt," for further information.[2]The Hertz Corporation's consolidated total assets as of June 30, 2024 and December 31, 2023 include total assets of VIEs of $1.8 billion and $1.7 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of June 30, 2024 and December 31, 2023 include total liabilities of VIEs of $1.8 billion and $1.7 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Pledges Related to Vehicle Financing" in Note 6, "Debt," for further information.

THC - CONDENSED CONSOLIDATED BA

THC - CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents		$ 568	$ 764
Total restricted cash and cash equivalents		426	442
Total cash and cash equivalents and restricted cash and cash equivalents		994	1,206
Receivables		1,267	1,191
Prepaid expenses and other assets		754	726
Revenue earning vehicles:
Vehicles		18,122	16,806
Less: accumulated depreciation		(2,753)	(2,155)
Revenue earning vehicles, net		15,369	14,651
Property and equipment, net		670	671
Operating lease right-of-use assets		2,229	2,253
Intangible assets, net		2,858	2,863
Goodwill		1,044	1,044
Total assets	[1]	25,185	24,605
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		995	701
Accrued liabilities		931	860
Accrued taxes, net		208	157
Debt		17,369	15,691
Operating lease liabilities		2,108	2,142
Self-insured liabilities		501	471
Deferred income taxes, net		912	1,038
Total liabilities	[1]	23,227	21,513
Commitments and contingencies
Stockholders' equity:
Common stock, $0.01 par value, 481,250,923 and 479,990,286 shares issued, respectively, and 306,438,879 and 305,178,242 shares outstanding, respectively		5	5
Additional paid-in capital		6,365	6,405
Retained earnings (Accumulated deficit)		(691)	360
Accumulated other comprehensive income (loss)		(291)	(248)
Total stockholder's equity		1,958	3,092
Total liabilities and stockholders' equity		25,185	24,605
Vehicles
ASSETS
Total restricted cash and cash equivalents		137	152
Receivables		164	211
Non-vehicle
ASSETS
Total restricted cash and cash equivalents		289	290
Receivables		1,103	980
The Hertz Corporation
ASSETS
Cash and cash equivalents		568	764
Total restricted cash and cash equivalents		426	442
Total cash and cash equivalents and restricted cash and cash equivalents		994	1,206
Receivables		1,267	1,191
Prepaid expenses and other assets		754	725
Revenue earning vehicles:
Vehicles		18,122	16,806
Less: accumulated depreciation		(2,753)	(2,155)
Revenue earning vehicles, net		15,369	14,651
Property and equipment, net		670	671
Operating lease right-of-use assets		2,229	2,253
Intangible assets, net		2,858	2,863
Goodwill		1,044	1,044
Total assets	[2]	25,185	24,604
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		995	701
Accrued liabilities		931	860
Accrued taxes, net		208	155
Debt		17,369	15,691
Operating lease liabilities		2,108	2,142
Self-insured liabilities		501	471
Deferred income taxes, net		916	1,041
Total liabilities	[2]	23,028	21,061
Commitments and contingencies
Stockholders' equity:
Common stock, $0.01 par value, 481,250,923 and 479,990,286 shares issued, respectively, and 306,438,879 and 305,178,242 shares outstanding, respectively		0	0
Additional paid-in capital		4,568	4,610
Retained earnings (Accumulated deficit)		(2,120)	(819)
Accumulated other comprehensive income (loss)		(291)	(248)
Total stockholder's equity		2,157	3,543
Total liabilities and stockholders' equity		25,185	24,604
The Hertz Corporation | Vehicles
ASSETS
Total restricted cash and cash equivalents		137	152
Receivables		164	211
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		429	191
Debt		12,774	12,242
The Hertz Corporation | Non-vehicle
ASSETS
Total restricted cash and cash equivalents		289	290
Receivables		1,103	980
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		566	510
Debt		$ 4,595	$ 3,449
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2024 and December 31, 2023 include total assets of variable interest entities (“VIEs”) of $1.8 billion and $1.7 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2024 and December 31, 2023 include total liabilities of VIEs of $1.8 billion and $1.7 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Pledges Related to Vehicle Financing" in Note 6, "Debt," for further information.[2]The Hertz Corporation's consolidated total assets as of June 30, 2024 and December 31, 2023 include total assets of VIEs of $1.8 billion and $1.7 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of June 30, 2024 and December 31, 2023 include total liabilities of VIEs of $1.8 billion and $1.7 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Pledges Related to Vehicle Financing" in Note 6, "Debt," for further information.

THC - CONDENSED CONSOLIDATED _2

THC - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares issued (in shares)		481,250,923	479,990,286
Ending balance (in shares)		306,438,879	305,178,242
Total assets	[1]	$ 25,185	$ 24,605
Total liabilities	[1]	23,227	21,513
Variable Interest Entity, Primary Beneficiary
Total assets		1,800	1,700
Total liabilities		1,800	1,700
Non-vehicle
Accounts receivable, allowance for credit loss		$ 53	$ 47
The Hertz Corporation
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares authorized (in shares)		3,000	3,000
Common stock, shares issued (in shares)		100	100
Ending balance (in shares)		100	100
Total assets	[2]	$ 25,185	$ 24,604
Total liabilities	[2]	23,028	21,061
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Total assets		1,800	1,700
Total liabilities		1,800	1,700
The Hertz Corporation | Non-vehicle
Accounts receivable, allowance for credit loss		$ 53	$ 47
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2024 and December 31, 2023 include total assets of variable interest entities (“VIEs”) of $1.8 billion and $1.7 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2024 and December 31, 2023 include total liabilities of VIEs of $1.8 billion and $1.7 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Pledges Related to Vehicle Financing" in Note 6, "Debt," for further information.[2]The Hertz Corporation's consolidated total assets as of June 30, 2024 and December 31, 2023 include total assets of VIEs of $1.8 billion and $1.7 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of June 30, 2024 and December 31, 2023 include total liabilities of VIEs of $1.8 billion and $1.7 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Pledges Related to Vehicle Financing" in Note 6, "Debt," for further information.

HGH - CONDENSED CONSOLIDATED ST

HGH - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Revenues	$ 2,353		$ 2,437		$ 4,433	$ 4,484
Expenses:
Direct vehicle and operating	1,440		1,347		2,806	2,568
Depreciation of revenue earning vehicles and lease charges, net	1,035		329		2,004	710
Non-vehicle depreciation and amortization	41		32		73	67
Selling, general and administrative	243		285		405	506
Interest expense, net	237		188		453	350
Other (income) expense, net	(5)		(2)		(3)	7
(Gain) on sale of non-vehicle capital assets	0		0		0	(162)
Change in fair value of Public Warrants	(165)		100		(251)	218
Total expenses	2,826		2,279		5,487	4,264
Income (loss) before income taxes	(473)		158		(1,054)	220
Income tax (provision) benefit	(392)		(19)		3	115
Net income (loss)	$ (865)	$ (186)	$ 139	$ 196	$ (1,051)	$ 335
Weighted-average common shares outstanding:
Basic (in shares)	306		314		306	318
Diluted (in shares)	306		315		306	319
Earnings (loss) per common share:
Basic (in dollars per share)	$ (2.82)		$ 0.44		$ (3.44)	$ 1.06
Diluted (in dollars per share)	$ (2.82)		$ 0.44		$ (3.44)	$ 1.05
Vehicles
Expenses:
Interest expense, net	$ 149		$ 132		$ 290	$ 243
Non-vehicle
Expenses:
Interest expense, net	$ 88		$ 56		$ 163	$ 107

THC - CONDENSED CONSOLIDATED ST

THC - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues:
Revenues	$ 2,353	$ 2,437	$ 4,433	$ 4,484
Expenses:
Direct vehicle and operating	1,440	1,347	2,806	2,568
Depreciation of revenue earning vehicles and lease charges, net	1,035	329	2,004	710
Non-vehicle depreciation and amortization	41	32	73	67
Selling, general and administrative	243	285	405	506
Interest expense, net	237	188	453	350
Other (income) expense, net	(5)	(2)	(3)	7
(Gain) on sale of non-vehicle capital assets	0	0	0	(162)
Total expenses	2,826	2,279	5,487	4,264
Income (loss) before income taxes	(473)	158	(1,054)	220
Income tax (provision) benefit	(392)	(19)	3	115
Net income (loss)			(1,051)	335
Vehicles
Expenses:
Interest expense, net	149	132	290	243
Non-vehicle
Expenses:
Interest expense, net	88	56	163	107
The Hertz Corporation
Revenues:
Revenues	2,353	2,437	4,433	4,484
Expenses:
Direct vehicle and operating	1,440	1,347	2,806	2,568
Depreciation of revenue earning vehicles and lease charges, net	1,035	329	2,004	710
Non-vehicle depreciation and amortization	41	32	73	67
Selling, general and administrative	243	285	405	506
Interest expense, net	237	188	453	350
Other (income) expense, net	(5)	(2)	(3)	7
(Gain) on sale of non-vehicle capital assets	0	0	0	(162)
Total expenses	2,991	2,179	5,738	4,046
Income (loss) before income taxes	(638)	258	(1,305)	438
Income tax (provision) benefit	(391)	(18)	4	116
Net income (loss)	(1,029)	240	(1,301)	554
The Hertz Corporation | Vehicles
Expenses:
Interest expense, net	149	132	290	243
The Hertz Corporation | Non-vehicle
Expenses:
Interest expense, net	$ 88	$ 56	$ 163	$ 107

HGH - CONDENSED CONSOLIDATED _3

HGH - CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (865)	$ 139	$ (1,051)	$ 335
Other comprehensive income (loss):
Foreign currency translation adjustments	(3)	4	(43)	18
Total other comprehensive income (loss)	(3)	4	(43)	18
Total comprehensive income (loss)	$ (868)	$ 143	$ (1,094)	$ 353

THC - CONDENSED CONSOLIDATED _3

THC - CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Net income (loss)			$ (1,051)	$ 335
Other comprehensive income (loss):
Foreign currency translation adjustments	$ (3)	$ 4	(43)	18
Total other comprehensive income (loss)	(3)	4	(43)	18
The Hertz Corporation
Net income (loss)	(1,029)	240	(1,301)	554
Other comprehensive income (loss):
Foreign currency translation adjustments	(3)	4	(43)	18
Total other comprehensive income (loss)	(3)	4	(43)	18
Total comprehensive income (loss)	$ (1,032)	$ 244	$ (1,344)	$ 572

HGH - CONDENSED CONSOLIDATED _4

HGH - CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Millions		Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated deficit)	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)			0
Increase (Decrease) in Stockholders' Equity
Ending balance (in shares)				323,000,000
Beginning balance at Dec. 31, 2022			$ 0
Ending balance at Mar. 31, 2023			0
Beginning balance at Dec. 31, 2022		$ 2,645		$ 5	$ 6,326	$ (256)	$ (294)	$ (3,136)
Beginning balance (in shares) at Dec. 31, 2022								155,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		196				196
Other comprehensive income (loss)		14					14
Net settlement on vesting of restricted stock		(1)			(1)
Stock-based compensation charges		21			21
Share repurchases (in shares)				5,000,000				6,000,000
Share repurchases		(101)						$ (101)
Ending balance (in shares) at Mar. 31, 2023				318,000,000
Ending balance (in shares) at Mar. 31, 2023								161,000,000
Ending balance at Mar. 31, 2023		2,774		$ 5	6,346	(60)	(280)	$ (3,237)
Beginning balance at Dec. 31, 2022			0
Ending balance at Jun. 30, 2023			$ 0
Beginning balance at Dec. 31, 2022		2,645		$ 5	6,326	(256)	(294)	$ (3,136)
Beginning balance (in shares) at Dec. 31, 2022								155,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		335
Other comprehensive income (loss)		18
Ending balance (in shares) at Jun. 30, 2023				312,000,000
Ending balance (in shares) at Jun. 30, 2023								167,000,000
Ending balance at Jun. 30, 2023		2,839		$ 5	6,369	79	(276)	$ (3,338)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)			0
Increase (Decrease) in Stockholders' Equity
Ending balance (in shares)				318,000,000
Beginning balance at Mar. 31, 2023			$ 0
Ending balance at Jun. 30, 2023			$ 0
Beginning balance at Mar. 31, 2023		2,774		$ 5	6,346	(60)	(280)	$ (3,237)
Beginning balance (in shares) at Mar. 31, 2023								161,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		139				139
Other comprehensive income (loss)		4					4
Stock-based compensation charges		22			22
Public Warrant exercises		1			1
Share repurchases (in shares)				6,000,000				6,000,000
Share repurchases		(101)						$ (101)
Ending balance (in shares) at Jun. 30, 2023				312,000,000
Ending balance (in shares) at Jun. 30, 2023								167,000,000
Ending balance at Jun. 30, 2023		$ 2,839		$ 5	6,369	79	(276)	$ (3,338)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)			0
Increase (Decrease) in Stockholders' Equity
Ending balance (in shares)				312,000,000
Preferred stock, shares outstanding (in shares)		0	0
Ending balance (in shares)		305,178,242		305,000,000
Beginning balance at Dec. 31, 2023		$ 0	$ 0
Ending balance at Mar. 31, 2024			0
Beginning balance at Dec. 31, 2023		$ 3,092		$ 5	6,405	360	(248)	$ (3,430)
Beginning balance (in shares) at Dec. 31, 2023		174,812,044						175,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		$ (186)				(186)
Other comprehensive income (loss)		(40)					(40)
Net settlement on vesting of restricted stock (in shares)				1,000,000
Net settlement on vesting of restricted stock		(2)			(2)
Stock-based compensation charges		16			16
Stock-based compensation forfeitures	[1]	(68)			(68)
Ending balance (in shares) at Mar. 31, 2024				306,000,000
Ending balance (in shares) at Mar. 31, 2024								175,000,000
Ending balance at Mar. 31, 2024		2,812		$ 5	6,351	174	(288)	$ (3,430)
Beginning balance at Dec. 31, 2023		0	0
Ending balance at Jun. 30, 2024		0	$ 0
Beginning balance at Dec. 31, 2023		$ 3,092		$ 5	6,405	360	(248)	$ (3,430)
Beginning balance (in shares) at Dec. 31, 2023		174,812,044						175,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		$ (1,051)
Other comprehensive income (loss)		$ (43)
Ending balance (in shares) at Jun. 30, 2024		306,438,879		306,000,000
Ending balance (in shares) at Jun. 30, 2024		174,812,044						175,000,000
Ending balance at Jun. 30, 2024		$ 1,958		$ 5	6,365	(691)	(291)	$ (3,430)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)			0
Increase (Decrease) in Stockholders' Equity
Ending balance (in shares)				306,000,000
Beginning balance at Mar. 31, 2024			$ 0
Ending balance at Jun. 30, 2024		0	$ 0
Beginning balance at Mar. 31, 2024		2,812		$ 5	6,351	174	(288)	$ (3,430)
Beginning balance (in shares) at Mar. 31, 2024								175,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		(865)				(865)
Other comprehensive income (loss)		(3)					(3)
Net settlement on vesting of restricted stock		(2)			(2)
APIC, Share-Based Payment Arrangement, Option, Increase for Cost Recognition		$ 16			16
Ending balance (in shares) at Jun. 30, 2024		306,438,879		306,000,000
Ending balance (in shares) at Jun. 30, 2024		174,812,044						175,000,000
Ending balance at Jun. 30, 2024		$ 1,958		$ 5	$ 6,365	$ (691)	$ (291)	$ (3,430)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)		0	0
Increase (Decrease) in Stockholders' Equity
Ending balance (in shares)		306,438,879		306,000,000
[1] (1) Represents former chief executive officer ("CEO") awards forfeited in March 2024. See also Note 10, "Stock-Based Compensation."

THC - CONDENSED CONSOLIDATED _4

THC - CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY EQUITY - USD ($) $ in Millions	Total		The Hertz Corporation		Common Stock	Common Stock The Hertz Corporation	Additional Paid-In Capital		Additional Paid-In Capital The Hertz Corporation		Accumulated Deficit	Accumulated Deficit The Hertz Corporation	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The Hertz Corporation
Common stock, shares outstanding, beginning (in shares) at Dec. 31, 2022					323,000,000	100
Beginning balance at Dec. 31, 2022	$ 2,645		$ 3,279		$ 5	$ 0	$ 6,326		$ 4,844		$ (256)	$ (1,271)	$ (294)	$ (294)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	196		314								196	314
Other comprehensive income (loss)	14		14										14	14
Stock-based compensation charges	21		21				21		21
Dividends paid to Hertz Holdings			(118)						(118)
Ending balance (in shares) at Mar. 31, 2023					318,000,000	100
Ending balance at Mar. 31, 2023	2,774		3,510		$ 5	$ 0	6,346		4,747		(60)	(957)	(280)	(280)
Common stock, shares outstanding, beginning (in shares) at Dec. 31, 2022					323,000,000	100
Beginning balance at Dec. 31, 2022	2,645		3,279		$ 5	$ 0	6,326		4,844		(256)	(1,271)	(294)	(294)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	335
Other comprehensive income (loss)	18		18
Ending balance (in shares) at Jun. 30, 2023					312,000,000	100
Ending balance at Jun. 30, 2023	2,839		3,674		$ 5	$ 0	6,369		4,667		79	(717)	(276)	(276)
Common stock, shares outstanding, beginning (in shares) at Mar. 31, 2023					318,000,000	100
Beginning balance at Mar. 31, 2023	2,774		3,510		$ 5	$ 0	6,346		4,747		(60)	(957)	(280)	(280)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	139		240								139	240
Other comprehensive income (loss)	4		4										4	4
Stock-based compensation charges	22		22				22		22
Dividends paid to Hertz Holdings			(102)						(102)
Ending balance (in shares) at Jun. 30, 2023					312,000,000	100
Ending balance at Jun. 30, 2023	$ 2,839		$ 3,674		$ 5	$ 0	6,369		4,667		79	(717)	(276)	(276)
Common stock, shares outstanding, beginning (in shares) at Dec. 31, 2023	305,178,242		100		305,000,000	100
Beginning balance at Dec. 31, 2023	$ 3,092		$ 3,543		$ 5	$ 0	6,405		4,610		360	(819)	(248)	(248)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(186)		(272)								(186)	(272)
Other comprehensive income (loss)	(40)		(40)										(40)	(40)
Stock-based compensation charges	16		16				16		16
Stock-based compensation forfeitures	(68)	[1]	(68)	[2]			(68)	[1]	(68)	[2]
Dividends paid to Hertz Holdings			(2)						(2)
Ending balance (in shares) at Mar. 31, 2024					306,000,000	100
Ending balance at Mar. 31, 2024	$ 2,812		$ 3,177		$ 5	$ 0	6,351		4,556		174	(1,091)	(288)	(288)
Common stock, shares outstanding, beginning (in shares) at Dec. 31, 2023	305,178,242		100		305,000,000	100
Beginning balance at Dec. 31, 2023	$ 3,092		$ 3,543		$ 5	$ 0	6,405		4,610		360	(819)	(248)	(248)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(1,051)
Other comprehensive income (loss)	$ (43)		$ (43)
Ending balance (in shares) at Jun. 30, 2024	306,438,879		100		306,000,000	100
Ending balance at Jun. 30, 2024	$ 1,958		$ 2,157		$ 5	$ 0	6,365		4,568		(691)	(2,120)	(291)	(291)
Common stock, shares outstanding, beginning (in shares) at Mar. 31, 2024					306,000,000	100
Beginning balance at Mar. 31, 2024	2,812		3,177		$ 5	$ 0	6,351		4,556		174	(1,091)	(288)	(288)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(865)		(1,029)								(865)	(1,029)
Other comprehensive income (loss)	$ (3)		(3)										(3)	(3)
Stock-based compensation charges			16						16
Dividends paid to Hertz Holdings			$ (4)						(4)
Ending balance (in shares) at Jun. 30, 2024	306,438,879		100		306,000,000	100
Ending balance at Jun. 30, 2024	$ 1,958		$ 2,157		$ 5	$ 0	$ 6,365		$ 4,568		$ (691)	$ (2,120)	$ (291)	$ (291)
[1] (1) Represents former chief executive officer ("CEO") awards forfeited in March 2024. See also Note 10, "Stock-Based Compensation."

HGH - CONDENSED CONSOLIDATED _5

HGH - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ (1,051)	$ 335
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles, net	2,194	884
Depreciation and amortization, non-vehicle	73	67
Amortization of deferred financing costs and debt discount (premium)	33	29
Stock-based compensation charges	32	43
Stock-based compensation forfeitures	(68)	0
Provision for receivables allowance	63	40
Deferred income taxes, net	(65)	(163)
(Gain) loss on sale of non-vehicle capital assets	3	(165)
Change in fair value of Public Warrants	(251)	218
Changes in financial instruments	8	106
Other	(4)	5
Changes in assets and liabilities:
Non-vehicle receivables	(201)	(334)
Prepaid expenses and other assets	(59)	(98)
Operating lease right-of-use assets	190	165
Non-vehicle accounts payable	63	6
Accrued liabilities	71	68
Accrued taxes, net	52	56
Operating lease liabilities	(200)	(178)
Self-insured liabilities	33	(25)
Net cash provided by (used in) operating activities	916	1,059
Cash flows from investing activities:
Revenue earning vehicles expenditures	(5,627)	(6,543)
Proceeds from disposal of revenue earning vehicles	2,902	2,766
Non-vehicle capital asset expenditures	(59)	(123)
Proceeds from disposal of non-vehicle capital assets	7	176
Return of (investment in) equity investments	(3)	(1)
Net cash provided by (used in) investing activities	(2,780)	(3,725)
Cash flows from financing activities:
Payment of financing costs	(42)	(17)
Share repurchases	0	(222)
Other	(3)	0
Net cash provided by (used in) financing activities	1,667	2,401
Effect of foreign currency exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents	(15)	13
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents during the period	(212)	(252)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period	1,206	1,418
Cash and cash equivalents and restricted cash and cash equivalents at end of period	994	1,166
Cash paid during the period for:
Income taxes, net of refunds	31	10
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives	362	336
Sales of revenue earning vehicles included in vehicle receivables	97	110
Purchases of non-vehicle capital assets included in accounts payable	12	19
Revenue earning vehicles and non-vehicle capital assets acquired through finance lease	47	25
Accrual for purchases of treasury shares	0	2
Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	1,683	4,021
Repayments of debt	(1,121)	(1,872)
Cash paid during the period for:
Interest, net of amounts capitalized:	247	207
Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	2,885	1,250
Repayments of debt	(1,735)	(759)
Cash paid during the period for:
Interest, net of amounts capitalized:	$ 155	$ 117

THC - CONDENSED CONSOLIDATED _5

THC - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ (1,051)	$ 335
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles, net	2,194	884
Depreciation and amortization, non-vehicle	73	67
Amortization of deferred financing costs and debt discount (premium)	33	29
Stock-based compensation charges	32	43
Stock-based compensation forfeitures	(68)	0
Provision for receivables allowance	63	40
Deferred income taxes, net	(65)	(163)
Other	(4)	5
Changes in assets and liabilities:
Non-vehicle receivables	(201)	(334)
Prepaid expenses and other assets	(59)	(98)
Operating lease right-of-use assets	190	165
Non-vehicle accounts payable	63	6
Accrued liabilities	71	68
Accrued taxes, net	52	56
Operating lease liabilities	(200)	(178)
Self-insured liabilities	33	(25)
Net cash provided by (used in) operating activities	916	1,059
Cash flows from investing activities:
Revenue earning vehicles expenditures	(5,627)	(6,543)
Proceeds from disposal of revenue earning vehicles	2,902	2,766
Non-vehicle capital asset expenditures	(59)	(123)
Proceeds from disposal of non-vehicle capital assets	7	176
Return of (investment in) equity investments	(3)	(1)
Net cash provided by (used in) investing activities	(2,780)	(3,725)
Cash flows from financing activities:
Payment of financing costs	(42)	(17)
Other	(3)	0
Net cash provided by (used in) financing activities	1,667	2,401
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents during the period	(212)	(252)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period	1,206
Cash and cash equivalents and restricted cash and cash equivalents at end of period	994
Cash paid during the period for:
Income taxes, net of refunds	31	10
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives	362	336
Sales of revenue earning vehicles included in vehicle receivables	97	110
Purchases of non-vehicle capital assets included in accounts payable	12	19
Revenue earning vehicles and non-vehicle capital assets acquired through finance lease	47	25
Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	1,683	4,021
Repayments of debt	(1,121)	(1,872)
Cash paid during the period for:
Interest, net of amounts capitalized:	247	207
Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	2,885	1,250
Repayments of debt	(1,735)	(759)
Cash paid during the period for:
Interest, net of amounts capitalized:	155	117
The Hertz Corporation
Cash flows from operating activities:
Net income (loss)	(1,301)	554
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles, net	2,194	884
Depreciation and amortization, non-vehicle	73	67
Amortization of deferred financing costs and debt discount (premium)	33	29
Stock-based compensation charges	32	43
Stock-based compensation forfeitures	(68)	0
Provision for receivables allowance	63	40
Deferred income taxes, net	(65)	(163)
(Gain) loss on sale of non-vehicle capital assets	3	(165)
Changes in financial instruments	8	106
Other	(5)	4
Changes in assets and liabilities:
Non-vehicle receivables	(201)	(334)
Prepaid expenses and other assets	(59)	(98)
Operating lease right-of-use assets	190	165
Non-vehicle accounts payable	63	6
Accrued liabilities	71	68
Accrued taxes, net	55	54
Operating lease liabilities	(200)	(178)
Self-insured liabilities	33	(25)
Net cash provided by (used in) operating activities	919	1,057
Cash flows from investing activities:
Revenue earning vehicles expenditures	(5,627)	(6,543)
Proceeds from disposal of revenue earning vehicles	2,902	2,766
Non-vehicle capital asset expenditures	(59)	(123)
Proceeds from disposal of non-vehicle capital assets	7	176
Return of (investment in) equity investments	(3)	(1)
Net cash provided by (used in) investing activities	(2,780)	(3,725)
Cash flows from financing activities:
Payment of financing costs	(42)	(17)
Dividends paid to Hertz Holdings	(6)	(220)
Other	0	(1)
Net cash provided by (used in) financing activities	1,664	2,402
Effect of foreign currency exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents	(15)	13
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents during the period	(212)	(253)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period	1,206	1,418
Cash and cash equivalents and restricted cash and cash equivalents at end of period	994	1,165
Cash paid during the period for:
Income taxes, net of refunds	31	10
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives	362	336
Sales of revenue earning vehicles included in vehicle receivables	97	110
Purchases of non-vehicle capital assets included in accounts payable	12	19
Revenue earning vehicles and non-vehicle capital assets acquired through finance lease	47	25
The Hertz Corporation | Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	1,683	4,021
Repayments of debt	(1,121)	(1,872)
Cash paid during the period for:
Interest, net of amounts capitalized:	247	207
The Hertz Corporation | Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	2,885	1,250
Repayments of debt	(1,735)	(759)
Cash paid during the period for:
Interest, net of amounts capitalized:	$ 155	$ 117

Background

Background	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background	Background Hertz Global Holdings, Inc. ("Hertz Global" when including its subsidiaries and VIEs and "Hertz Holdings" when excluding its subsidiaries and VIEs) was incorporated in Delaware in 2015 to serve as the top-level holding company for Rental Car Intermediate Holdings, LLC, which wholly owns The Hertz Corporation ("Hertz" and interchangeably with Hertz Global, the "Company"), Hertz Global's primary operating company. Hertz was incorporated in Delaware in 1967 and is a successor to corporations that have been engaged in the vehicle rental and leasing business since 1918. Hertz operates its vehicle rental business globally primarily through the Hertz, Dollar and Thrifty brands from company-operated and franchisee locations in the United States ("U.S."), Europe, Africa, Asia, Australia, Canada, the Caribbean, Latin America, the Middle East and New Zealand. The Company also sells vehicles through Hertz Car Sales.

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Pronouncements	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation and Recently Issued Accounting Pronouncements	Basis of Presentation and Recently Issued Accounting Pronouncements Basis of Presentation This Quarterly Report on Form 10-Q ("Quarterly Report") combines the quarterly reports on Form 10-Q for the quarterly period ended June 30, 2024 of Hertz Global and Hertz. Hertz Global consolidates Hertz for financial statement purposes and, therefore, disclosures that relate to activities of Hertz also apply to Hertz Global. In the sections that combine disclosure of Hertz Global and Hertz, this report refers to actions as being actions of the Company, or Hertz Global, which is appropriate because the business is one enterprise and Hertz Global operates the business through Hertz. When appropriate, Hertz Global and Hertz are named specifically for their individual disclosures and any significant differences between the operations and results of Hertz Global and Hertz are separately disclosed and explained. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”). In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. The Company's vehicle rental operations are typically a seasonal business, with decreased levels of business in the winter months and heightened activity during the spring and summer months for the majority of countries where the Company generates revenues. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes. Actual results could differ materially from those estimates. The December 31, 2023 unaudited condensed consolidated balance sheet data is derived from the audited financial statements at that date but does not include all disclosures required by U.S. GAAP. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with information included in the Company's Annual Report on Form 10-K for the year ended December 31, 2023 (the "2023 Form 10-K"), as filed with the Securities and Exchange Commission ("SEC") on February 12, 2024. Principles of Consolidation The unaudited condensed 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 unaudited condensed 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 of the VIE. All significant intercompany transactions have been eliminated in consolidation. Recently Issued Accounting Pronouncements Not yet adopted Improvements to Reportable Segment Disclosures In November 2023, the Financial Accounting Standards Board ("FASB") issued guidance that modifies segment reporting disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for annual periods beginning after December 15, 2023 and interim periods beginning after December 15, 2024 using a retrospective transition method. Early adoption is permitted. The Company will adopt the guidance when it becomes effective and will include the required disclosures in its Annual Report on Form 10-K for the year ending December 31, 2024. The Company anticipates the adoption of this guidance to have a material impact on its disclosures. Improvements to Income Tax Disclosures In December 2023, the FASB issued guidance to enhance income tax disclosures related to, among other items, rate reconciliation and income taxes paid. The guidance is effective for annual periods beginning after December 15, 2024 using a prospective transition method. Early adoption and retrospective application are permitted. The Company is in the process of determining the timing of adoption and assessing the overall impact of adopting this guidance on its disclosures.

Divestitures

Divestitures	6 Months Ended
	Jun. 30, 2024
Discontinued Operations and Disposal Groups [Abstract]
Divestitures	Divestitures Sales of Non-vehicle Capital Assets In 2019, the Company substantially completed the sale of certain non-vehicle capital assets constituting real property, in an eminent domain proceeding, in its Americas RAC segment. In February 2023, the Company received additional cash from the sale upon final resolution of the eminent domain proceeding and recognized an additional $29 million pre-tax gain on the sale, which is included in (gain) on sale of non-vehicle capital assets in the accompanying unaudited condensed consolidated statement of operations for the six months ended June 30, 2023. In March 2023, the Company sold and leased back its Los Angeles, California airport location in its Americas RAC segment. The transaction qualified for sale-leaseback accounting. The Company recognized a pre-tax gain of $133 million based on the difference in the sale amount of $143 million less $9 million net book value of assets sold and $1 million in selling costs, which is included in (gain) on sale of non-vehicle capital assets in the accompanying unaudited condensed consolidated statement of operations for the six months ended June 30, 2023. The leaseback is classified as an operating lease with a term of 36 months.

Revenue Earning Vehicles

Revenue Earning Vehicles	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Earning Vehicles	Revenue Earning Vehicles The components of revenue earning vehicles, net are as follows: (In millions) June 30, December 31, Revenue earning vehicles $ 17,773 $ 16,164 Less accumulated depreciation (2,753) (2,155) 15,020 14,009 Revenue earning vehicles held for sale, net (1) 349 642 Revenue earning vehicles, net $ 15,369 $ 14,651 (1) Represents the carrying amount of vehicles classified as held for sale as of the respective balance sheet date, including the First EV Disposal Group and the Second EV Disposal Group, each as defined and disclosed below. Depreciation of revenue earning vehicles and lease charges, net includes the following: Three Months Ended Six Months Ended (In millions) 2024 2023 2024 2023 Depreciation of revenue earning vehicles $ 844 $ 432 $ 1,528 $ 854 (Gain) loss on disposal of revenue earning vehicles (1) 182 (110) 458 (156) Rents paid for vehicles leased 9 7 18 12 Depreciation of revenue earning vehicles and lease charges, net $ 1,035 $ 329 $ 2,004 $ 710 (1) Includes the write-down to fair value for vehicles classified as held for sale, including the First EV Disposal Group and Second EV Disposal Group as disclosed below, for the three and six months ended June 30, 2024. In December 2023, the Company identified a group of electric vehicles ("EVs") that it desired to sell (the "First EV Disposal Group") in response to management's determination that the supply of EVs exceeded customer demand, elevated EV damage and collision costs and a decline in EV residual values. As a result, the First EV Disposal Group, included in the Company's Americas RAC segment, was classified as held for sale with an aggregate carrying value of $542 million and is included in revenue earning vehicles, net in the accompanying unaudited condensed consolidated balance sheet as of December 31, 2023. As of June 30, 2024, approximately 90% of the First EV Disposal Group has been sold and the carrying values of the remaining vehicles written down to fair value less costs to sell. This resulted in incremental charges, primarily incurred in the first quarter of 2024, of $41 million for losses incurred on the vehicles sold and $44 million for the write-down on the remaining vehicles, which are included in depreciation of revenue earning vehicles and lease charges, net in the accompanying unaudited condensed consolidated statement of operations for the six months ended June 30, 2024. The remaining, unsold portion of the First EV Disposal Group has an aggregate carrying value of $30 million and is included in revenue earning vehicles, net in the accompanying unaudited consolidated balance sheet as of June 30, 2024. In March 2024, the Company identified an additional group of EVs that it desired to sell (the "Second EV Disposal Group") in response to management's determination that the supply of EVs exceeded customer demand, elevated EV damage and collision costs and a decline in EV residual values. As a result, the Second EV Disposal Group, consisting of approximately 9,000 EVs in the Company's Americas RAC segment and approximately 1,000 EVs in the Company's International RAC segment, was classified as held for sale with carrying values written down to fair value less costs to sell resulting in write-downs of $107 million and $7 million in the Company's Americas RAC and International RAC segments, respectively, which are included in depreciation of revenue earning vehicles and lease charges, net in the accompanying unaudited condensed consolidated statement of operations for the six months ended June 30, 2024. As of June 30, 2024, approximately 60% of the Second EV Disposal Group has been sold and the carrying value of the remaining vehicles in the Second EV Disposal Group have been written down to fair value less costs to sell. This resulted in incremental charges during the second quarter of 2024 of $6 million for losses incurred on the vehicles sold in the Company's Americas RAC segment and charges of $14 million and $4 million for the write-down on the remaining vehicles in the Company's Americas RAC and International RAC segments, respectively, which are included in depreciation of revenue earning vehicles and lease charges, net in the accompanying unaudited condensed consolidated statement of operations for the three and six months ended June 30, 2024. The remaining, unsold portions of the Second EV Disposal Group have aggregate carrying values of $82 million and $17 million in the Company's Americas RAC and International RAC segments, respectively, which are included in revenue earning vehicles, net in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2024.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net Recoverability of Goodwill and Indefinite-lived Intangible Assets As of June 30, 2024, the Company tested the recoverability of its goodwill and indefinite-lived intangible assets due to the impact related to the Company's reduction in cash flow projections and declines in the stock price of Hertz Global. The quantitative fair value test utilized the Company's most recent cash flow projections, including a range of potential outcomes, along with a long-term growth rate of 2% and a range of discount rates between 19.0% and 12.0%. Based on the quantitative tests, no impairments were recorded in the second quarter of 2024. However, the fair value of the Dollar and Thrifty tradename, which is an indefinite-lived intangible asset, in the Company's Americas RAC segment was in excess by 12% of the carrying values of $934 million. Further deterioration in the Company’s cash flow projections 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 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.

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt The Company's debt, including its available credit facilities, consists of the following ($ in millions) as of June 30, 2024 and December 31, 2023: Facility Weighted-Average Interest Rate as of June 30, 2024 Fixed or Maturity June 30, December 31, Non-Vehicle Debt First Lien RCF 8.67% Floating 6/2026 $ 160 $ — Term B Loan 8.86% Floating 6/2028 1,261 1,268 Incremental Term B Loan 9.08% Floating 6/2028 498 500 Term C Loan 8.86% Floating 6/2028 245 245 First Lien Senior Notes 12.63% Fixed 7/2029 750 — Exchangeable Notes (1) 8.00% Fixed 7/2029 250 — Senior Notes Due 2026 4.63% Fixed 12/2026 500 500 Senior Notes Due 2029 5.00% Fixed 12/2029 1,000 1,000 Other Non-Vehicle Debt (2) 7.08% Fixed Various 21 2 Unamortized Debt Issuance Costs and Net (Discount) Premium (3) (90) (66) Total Non-Vehicle Debt 4,595 3,449 Facility Weighted-Average Interest Rate as of June 30, 2024 Fixed or Maturity June 30, December 31, Vehicle Debt HVF III U.S. ABS Program HVF III U.S. Vehicle Variable Funding Notes HVF III Series 2021-A Class A (4) 6.95% Floating 4/2026 1,952 1,492 HVF III Series 2021-A Class B (4) 9.44% Fixed 8/2025 188 188 2,140 1,680 HVF III U.S. Vehicle Medium Term Notes HVF III Series 2021-1 (4) 1.66% Fixed 12/2024 2,000 2,000 HVF III Series 2021-2 (4) 2.12% Fixed 12/2026 2,000 2,000 HVF III Series 2022-1 (4) 2.44% Fixed 6/2025 750 750 HVF III Series 2022-2 (4) 2.78% Fixed 6/2027 750 750 HVF III Series 2022-3 (4) N/A Fixed 3/2024 — 192 HVF III Series 2022-4 (4) 4.22% Fixed 9/2025 667 667 HVF III Series 2022-5 (4) 4.39% Fixed 9/2027 364 364 HVF III Series 2023-1 (4) 6.17% Fixed 6/2026 500 500 HVF III Series 2023-2 (4) 6.30% Fixed 9/2028 300 300 HVF III Series 2023-3 (4) 6.46% Fixed 2/2027 500 500 HVF III Series 2023-4 () 6.66% Fixed 3/2029 500 500 8,331 8,523 Vehicle Debt - Other European ABS (3) 5.47% Floating 3/2026 1,314 1,205 Hertz Canadian Securitization (4) 6.50% Floating 4/2026 450 350 Australian Securitization (4) 5.94% Floating 6/2025 208 203 New Zealand RCF 8.44% Floating 6/2025 57 70 U.K. Financing Facility 7.85% Floating 7/2024-5/2028 187 173 Other Vehicle Debt (5) 6.68% Floating 7/2024-5/2028 144 110 2,360 2,111 Unamortized Debt Issuance Costs and Net (Discount) Premium (57) (72) Total Vehicle Debt 12,774 12,242 Total Debt $ 17,369 $ 15,691 (1) As a result of the bifurcated Exchange Feature, as disclosed below, the effective interest rate at issuance and as of June 30, 2024 was approximately 14.4%. (2) Other non-vehicle debt is primarily comprised of $21 million and $1 million in finance lease obligations (3) Includes approximately $9 million of unamortized debt issuances costs associated with the Exchangeable Notes as of June 30, 2024. (4) 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 expect the outstanding principal of the relevant indebtedness to be repaid in full. The legal final maturity date is the date on which the outstanding principal of the relevant indebtedness is legally due and payable in full. (5) Other vehicle debt is primarily comprised of $98 million and $104 million in finance lease obligations as of June 30, 2024 and December 31, 2023, respectively. Non-Vehicle Debt First Lien Credit Agreement In April 2024, the credit agreement governing the First Lien RCF (the "First Lien Credit Agreement"), which requires Hertz to comply with a financial covenant consisting of a ratio of first lien debt to Consolidated EBITDA ("the First Lien Ratio"), as defined within the First Lien Credit Agreement and may be materially different than Adjusted Corporate EBITDA presented in Part I, Item 2 of this Quarterly Report, was amended ("Amendment No. 8") to require a ratio of less than or equal to 5.0x in the second and third quarters of 2024 and 4.75x in the fourth quarter of 2024 and the first quarter of 2025. Amendment No. 8 also contains a minimum liquidity covenant of $400 million for each month ending in the second and third quarters of 2024 and $500 million for each month ending in the fourth quarter of 2024 and the first quarter of 2025. Liquidity as defined in the First Lien Credit Agreement may be materially different than corporate liquidity presented in Part I, Item 2 of this Quarterly Report. Amendment No. 8 also adds certain limitations on Restricted Payments and Permitted Investments (each as defined in the First Lien Credit Agreement). Under the terms of Amendment No. 8, the increased First Lien Ratio, minimum liquidity covenant, and limitations on Restricted Payments and Permitted Investments will sunset on the first day of the second quarter of 2025. In July 2024, consistent with obligations arising from the issuance of the First Lien Senior Notes and the Exchangeable Notes, as disclosed below, Hertz Holdings entered into a parent guarantee agreement with the administrative agent for the First Lien Credit Agreement. Prior to the issuance of each of the First Lien Senior Notes and the Exchangeable Notes, Hertz Holdings did not guarantee the obligations under the First Lien Credit Agreement. First Lien Senior Notes In June 2024, Hertz issued $750 million in aggregate principal amount of 12.625% First Lien Senior Secured Notes due 2029 (the "First Lien Senior Notes"), which are guaranteed by Hertz Holdings, Rental Car Intermediate Holdings, LLC and each of Hertz’s direct and indirect U.S. subsidiaries that are guarantors under the First Lien Credit Agreement. The First Lien Senior Notes bear interest payable semi-annually in arrears on January 15 and July 15 of each year, beginning in January 2025. The First Lien Senior Notes mature in July 2029. Exchangeable Notes In June 2024, Hertz issued $250 million in aggregate principal amount of 8.000% Exchangeable Senior Second-Lien Secured PIK Notes due 2029 (the “Exchangeable Notes”), which are guaranteed by Hertz Holdings, Rental Car Intermediate Holdings, LLC and each of Hertz’s direct and indirect U.S. subsidiaries that are guarantors under the First Lien Credit Agreement. The Exchangeable Notes bear paid-in-kind ("PIK") interest payable semi-annually in arrears on July 15 and January 15 of each year, beginning in January 2025. The Exchangeable Notes mature in July 2029 (the "Maturity Date"), unless repurchased, redeemed or exchanged (the "Exchange Feature"), in accordance with their terms prior to the Maturity Date. Prior to April 15, 2029, the Exchangeable Notes will be exchangeable only upon satisfaction of certain conditions and during certain periods. Thereafter, the Exchangeable Notes will be exchangeable at any time until the close of business on the second scheduled trading day immediately preceding the Maturity Date. The Exchangeable Notes will be exchangeable by holders into shares of Hertz Global common stock, cash or a combination of common stock and cash, at the Company's election, at an initial exchange rate of 150.9388 shares per $1,000 principal amount of Exchangeable Notes, corresponding to an initial exchange price of $6.6252 per share, subject to adjustment upon the occurrence of certain events. The Company may redeem the Exchangeable Notes on or after July 20, 2027 and on or prior to the 31st scheduled trading day immediately preceding the Maturity Date, if the last reported sale price per share of Hertz Global common stock has been at least 250% of the exchange price for the Exchangeable Notes for certain specified periods. The Company may redeem all (but not part) of the Exchangeable Notes at a cash redemption price equal to the initial principal amount of the Exchangeable Notes to be redeemed plus PIK interest on such Exchangeable Notes for each interest payment date occurring on or prior to the redemption date plus accrued and unpaid PIK interest on such Exchangeable Notes to, but not including, the redemption date. At the time of issuance, certain investors affiliated with CK Amarillo LP, which is an affiliate of Hertz Holdings, purchased approximately $44 million of the Exchangeable Notes as further disclosed in Note 14, "Related Party Transactions." Upon issuance, the Company bifurcated the Exchange Feature from the Exchangeable Notes for accounting purposes utilizing applicable guidance. The initial carrying value of the Exchange Feature was $68 million and recorded in non-vehicle debt in the accompanying unaudited consolidated balance sheet as of June 30, 2024, as further disclosed in Note 12, "Fair Value Measurements." Vehicle Debt HVF III U.S. Vehicle Variable Funding Notes In April 2024, Hertz Vehicle Financing III LLC ("HVF III"), a wholly-owned, special-purpose and bankruptcy-remote subsidiary of Hertz, amended the HVF III Series 2021-A Notes to extend the maturity of the Class A Notes to April 2026. In May 2024, HVF III amended the HVF III Series 2021-A Notes to reduce the Tesla concentration limit. HVF III U.S. Vehicle Medium Term Notes HVF III Series 2024-1 Notes and Series 2024-2 Notes: In July 2024, HVF III issued the Series 2024-1 Notes (Class A, Class B, Class C and Class D) and Series 2024-2 Notes (Class A, Class B, Class C and Class D) each in aggregate principal amounts of $375 million with maturity dates of January 2028 and January 2030, respectively. Vehicle Debt-Other European ABS In April 2024, International Fleet Financing No. 2 BV ("IFF No. 2"), an indirect, special purpose subsidiary of Hertz, amended the European ABS to increase the aggregate maximum borrowings from €1.2 billion to €1.3 billion. Additionally, the European ABS was amended to provide for aggregate maximum borrowings of €1.5 billion for a seasonal commitment period beginning in April 2024 through November 2024. Following expiration of the seasonal commitment period, the aggregate maximum borrowings will revert to €1.3 billion. In June 2024, the European ABS was amended to (i) incorporate the Belgium fleet within the European ABS financing structure and (ii) make certain other administrative amendments and revisions for the incorporation of the Belgian fleet (the "Amendments"). The aggregate maximum borrowings available under the European ABS remain unchanged after giving effect to the Amendments. Canadian Securitization In April 2024, TCL Funding Limited Partnership, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Hertz, amended the Hertz Canadian Securitization to increase the aggregate maximum borrowings from CAD$475 million to CAD$625 million until November 2024, reverting to CAD$475 million thereafter until the extended maturity date of April 2026. Australian Securitization In July 2024, HA Fleet Pty Limited, an indirect wholly-owned subsidiary of Hertz, amended the Australian Securitization to extend the maturity date to June 2026. U.K. Financing Facility In June 2024, the U.K. Financing Facility was amended to provide for a seasonal increase in aggregate maximum borrowings from £135 million to £155 million until October 2024. In July 2024, the U.K. Financing Facility was amended to increase aggregate maximum borrowings from £135 million to £170 million, and together with the June 2024 amendment, providing for aggregate maximum borrowings of £190 million for the seasonal commitment period ending October 2024. Upon expiration of the seasonal commitment period, aggregate maximum borrowings will revert to £170 million. Also under the amendment, the maturity date of the U.K. Financing Facility was extended to May 2025. Borrowing Capacity and Availability Borrowing capacity and availability comes from the Company's revolving credit facilities, which are a combination of variable funding asset-backed securitization facilities, cash-flow based revolving credit facilities, asset-based revolving credit facilities and the First Lien RCF. Creditors under each such asset-backed securitization facility and asset-based revolving credit facility have a claim on a specific pool of assets as collateral. With respect to each such asset-backed securitization facility and asset-based revolving credit facility, the Company refers to the amount of debt it can borrow given a certain pool of assets as the borrowing base. The Company refers to "Remaining Capacity" as the maximum principal amount of debt permitted to be outstanding under the respective facility (i.e., with respect to a variable funding asset-backed securitization facility or asset-based revolving credit facility, the amount of debt the Company could borrow assuming it possessed sufficient assets as collateral) less the principal amount of debt then-outstanding under such facility and, in the case of the First Lien RCF, less any issued standby letters of credit. With respect to a variable funding asset-backed securitization facility or asset-based revolving credit facility, the Company refers to "Availability Under Borrowing Base Limitation" as the lower of Remaining Capacity or the borrowing base less the principal amount of debt then-outstanding under such facility (i.e., the amount of debt that can be borrowed given the collateral possessed at such time). The following facilities were available to the Company as of June 30, 2024 and are presented net of any outstanding letters of credit: (In millions) Remaining Availability Under Non-Vehicle Debt First Lien RCF $ 1,257 $ 1,257 Total Non-Vehicle Debt 1,257 1,257 Vehicle Debt HVF III Series 2021-A 1,813 — European ABS 254 — Hertz Canadian Securitization 6 — Australian Securitization 18 — New Zealand RCF 16 — U.K. Financing Facility 9 3 Other Vehicle Debt 7 — Total Vehicle Debt 2,123 3 Total $ 3,380 $ 1,260 Letters of Credit As of June 30, 2024, there were outstanding standby letters of credit totaling $843 million comprised primarily of $583 million issued under the First Lien RCF and $245 million issued under the Term C Loan. As of June 30, 2024, no capacity remained to issue additional letters of credit under the Term C Loan. Such letters of credit have been issued primarily to provide credit enhancement for the Company's asset-backed securitization facilities and to support the Company's insurance programs, as well as to support the Company's vehicle rental concessions and leaseholds. As of June 30, 2024, none of the issued letters of credit have been drawn upon. Pledges Related to Vehicle Financing Substantially all of the Company's revenue earning vehicles and certain related assets are owned by special purpose entities or are encumbered in favor of the lenders under the various credit facilities, other secured financings or asset-backed securities programs. None of the value of such assets (including the assets owned by Hertz Vehicle Financing III LLC and various other domestic and international subsidiaries that facilitate the Company's international securitizations) will be available to satisfy the claims of unsecured creditors unless the secured creditors are paid in full. The Company has a 25% ownership interest in IFF No. 2, whose sole purpose is to provide commitments to lend under the European ABS in various currencies subject to borrowing bases comprised of revenue earning vehicles and related assets of certain of Hertz International, Ltd.'s subsidiaries. IFF No. 2 is a VIE and the Company is the primary beneficiary; therefore, the assets, liabilities and results of operations of IFF No. 2 are included in the accompanying unaudited condensed consolidated financial statements. As of June 30, 2024 and December 31, 2023, IFF No. 2 had total assets of $1.8 billion and $1.7 billion, respectively, comprised primarily of intercompany receivables, and total liabilities of $1.8 billion and $1.7 billion, respectively, comprised primarily of debt. Covenant Compliance The First Lien Credit Agreement requires Hertz to comply with the following financial covenant: the First Lien Ratio, which requires a ratio of less than or equal to 3.0x in the first and last quarters of the calendar year and 3.5x in the second and third quarters of the calendar year. Amendment No. 8 temporarily increases the First Lien Ratio and contains a minimum liquidity covenant for each fiscal quarter beginning in the second quarter of 2024 and will sunset on the first day of the second quarter of 2025, as disclosed above. As of June 30, 2024, Hertz was in compliance with the First Lien Ratio, as temporarily amended. Additionally, the First Lien Credit Agreement, the First Lien Senior Notes, the Exchangeable Notes, the Senior Notes Due 2026 and the Senior Notes Due 2029 (collectively, the "Corporate Indebtedness") contain customary affirmative covenants including, among other things, the delivery of quarterly and annual financial statements and/or compliance certificates, and covenants related to conduct of business, maintenance of property and insurance, compliance with environmental laws and, where applicable, the granting of security interests for the benefit of the secured parties under the applicable agreements on after-acquired real property, fixtures and future subsidiaries. The terms of the Corporate Indebtedness contain covenants limiting the ability of Hertz and its restricted subsidiaries to: incur or guarantee additional indebtedness; incur or guarantee secured indebtedness; pay dividends or distributions on, or redeem or repurchase, Hertz Global capital stock; make certain investments or other restricted payments; sell certain assets; transfer intellectual property to unrestricted subsidiaries; merge, consolidate or sell all or substantially all of its assets; and create restrictions on the ability of Hertz’s restricted subsidiaries to pay dividends or other amounts to Hertz. As per the terms of the Corporate Indebtedness, these covenants are subject to a number of important and significant limitations, qualifications and exceptions. As of June 30, 2024, the Company was in compliance with all covenants under the terms of the agreements governing the respective Corporate Indebtedness.

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Leases The Company enters into certain agreements as a lessor under which it rents vehicles and leases fleets to customers. The following table summarizes the amount of operating lease income and other income included in total revenues in the accompanying unaudited condensed consolidated statements of operations: Three Months Ended Six Months Ended (In millions) 2024 2023 2024 2023 Operating lease income from vehicle rentals $ 2,130 $ 2,214 $ 4,013 $ 4,073 Variable operating lease income 163 165 304 297 Revenue accounted for under Topic 842 2,293 2,379 4,317 4,370 Revenue accounted for under Topic 606 60 58 116 114 Total revenues $ 2,353 $ 2,437 $ 4,433 $ 4,484

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Tax (Provision) Benefit	Income Tax (Provision) Benefit Hertz Global For the three months ended June 30, 2024, Hertz Global recorded a tax provision of $392 million, which resulted in an effective tax rate of (83%). For the three months ended June 30, 2023, Hertz Global recorded a tax provision of $19 million, which resulted in an effective tax rate of 12%. The change in taxes for the three months ended June 30, 2024 compared to the same period in 2023 was primarily driven by lower pretax income in 2024, valuation allowances on U.S. and foreign deferred tax assets recorded in 2024 and lower estimated EV credits in 2024. For the first half of 2024, Hertz Global recorded a tax benefit of $3 million, which resulted in an effective tax rate of 0%. For the first half of 2023, Hertz Global recorded a tax benefit of $115 million, which resulted in an effective tax rate of (52)%. The change in taxes in the first half of 2024 compared to the same period in 2023 was primarily driven by lower pretax income in 2024, valuation allowances on U.S. and foreign deferred tax assets recorded in 2024, benefits related to our pre-filing agreement with the IRS in 2023 and the non-taxable change in the fair value of warrants. The Company determined that it was more-likely-than-not that certain deferred tax assets will not be realized. The Company evaluated positive and negative evidence, including operating results during the most recent three-year period and future projections, with more weight given to historical results than expectations of future profitability, which are inherently uncertain. The Company's losses in the most recent period represented sufficient negative evidence to require valuation allowances against certain deferred tax assets. The Company will assess the valuation allowances periodically and could reverse these amounts, partially or in total, if business results sufficiently improve to support the realization of certain deferred tax assets. Hertz For the three months ended June 30, 2024, Hertz recorded a tax provision of $391 million, which resulted in an effective tax rate of (61%). For the three months ended June 30, 2023, Hertz recorded a tax provision of $18 million, which resulted in an effective tax rate of 7%. The change in taxes for the three months ended June 30, 2024 compared to the same period in 2023 was primarily driven by lower pretax income in 2024, valuation allowances on U.S. and foreign deferred tax assets recorded in 2024 and lower estimated EV credits in 2024. For the first half of 2024, Hertz recorded a tax benefit of $4 million, which resulted in an effective tax rate of 0%. For the first half of 2023, the Company recorded a tax benefit of $116 million, which resulted in an effective tax rate of (26)%. The change in taxes in the first half of 2024 compared to the same period in 2023 was primarily driven by lower pretax income in 2024, valuation allowances on U.S. and foreign deferred tax assets recorded in 2024 and benefits related to our pre-filing agreement with the IRS in 2023. The Company determined that it was more-likely-than-not that certain deferred tax assets will not be realized. The Company evaluated positive and negative evidence, including operating results during the most recent three-year period and future projections, with more weight given to historical results than expectations of future profitability, which are inherently uncertain. The Company's losses in the most recent period represented sufficient negative evidence to require valuation allowances against certain deferred tax assets. The Company will assess the valuation allowances periodically and could reverse these amounts, partially or in total, if business results sufficiently improve to support the realization of certain deferred tax assets.

Public Warrants, Equity and Ear

Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global	Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global Public Warrants During the three and six months ended June 30, 2024, 4,337 and 8,763 Public Warrants were exercised, of which 2,066 and 5,516 were cashless exercises and 2,271 and 3,247 were exercised for $13.80 per share. As of June 30, 2024, a cumulative 6,343,967 Public Warrants have been exercised since their original issuance in June 2021. The Public Warrants are recorded at fair value in the accompanying unaudited condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023. See Note 12, "Fair Value Measurements." In connection with the issuance of the Exchangeable Notes, as disclosed in Note 6, "Debt," an anti-dilution provision in the agreement governing the Public Warrants required that the exercise price and warrant number be adjusted. This resulted in the exercise price of the Public Warrants decreasing from $13.80 to $13.61, effective upon the issuance of the Exchangeable Notes on June 28, 2024. Effective concurrently with the change in exercise price, the number of shares of Hertz Global common stock to which a holder of a Public Warrant is entitled upon exercise of a Public Warrant increased from one share to 1.0140 shares. Share Repurchase Programs for Common Stock In June 2022, Hertz Global's independent Audit Committee recommended, and its Board of Directors approved, a new share repurchase program (the "2022 Share Repurchase Program") that authorized additional repurchases of up to an incremental $2.0 billion worth of shares of Hertz Global's outstanding common stock. The 2022 Share Repurchase Program, announced on June 15, 2022, has no initial time limit, does not obligate Hertz Global to acquire any particular amount of common stock and can be discontinued at any time. However, during the effective period of Amendment No. 8, as disclosed in Note 6, "Debt," the repurchase of shares is not permitted commencing April 16, 2024 through April 1, 2025. Since the inception of the 2022 Share Repurchase Program, a total of 66,684,169 shares of Hertz Global's common stock have been repurchased for an aggregate purchase price of $1.1 billion, excluding applicable excise tax. There were no share repurchases during the six months ended June 30, 2024. Common shares repurchased are included in treasury stock in the accompanying Hertz Global unaudited condensed consolidated balance sheet as of June 30, 2024 and December 31, 2023. Subsequent to the expiration of Amendment No. 8, any future share repurchases will be made at the discretion of Hertz Global's management through a variety of methods, such as open-market transactions (including pre-set trading plans pursuant to Rule 10b5-1 of the Exchange Act), privately negotiated transactions, accelerated share repurchases, and other transactions in accordance with applicable securities laws. There can be no assurance as to the timing or number of shares of any repurchases. Computation of Earnings (Loss) Per Common Share Basic earnings (loss) per common share has been computed based upon the weighted-average number of common shares outstanding. Diluted earnings (loss) per common share has been computed based upon the weighted-average number of common shares outstanding plus the effect of all potentially dilutive common stock equivalents, including Public Warrants and Exchangeable Notes, except when the effect would be antidilutive. Additionally, the Company removes the income or expense impacts related to Public Warrants and Exchangeable Notes when computing diluted earnings (loss) per common share, when the impacts are dilutive. The following table sets forth the computation of basic and diluted earnings (loss) per common share: Three Months Ended Six Months Ended (In millions, except per share data) (1) 2024 2023 2024 2023 Numerator: Net income (loss) available to Hertz Global common stockholders, basic and diluted $ (865) $ 139 $ (1,051) $ 335 Denominator: Basic weighted-average common shares outstanding 306 314 306 318 Dilutive effect of stock options, RSUs and PSUs — 1 — 1 Diluted weighted-average shares outstanding 306 315 306 319 Antidilutive Public Warrants 142 13 99 15 Antidilutive stock options, RSUs and PSUs 13 6 11 6 Antidilutive shares related to Exchangeable Notes 1 — 1 — Total antidilutive 156 19 111 21 Earnings (loss) per common share: Basic $ (2.82) $ 0.44 $ (3.44) $ 1.06 Diluted $ (2.82) $ 0.44 $ (3.44) $ 1.05 (1) The table above is denoted in millions, excluding earnings (loss) per common share. Amounts are calculated from the underlying numbers in thousands, and as a result, may not agree to the amounts shown in the table when calculated in millions.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
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 at Hertz. In 2021, Hertz Global's Board of Directors approved the Hertz Global Holdings, Inc. 2021 Omnibus Incentive Plan (the "2021 Omnibus Plan"). As of June 30, 2024, 51,306,406 shares of the Company's common stock were authorized and remain available for future grants under the 2021 Omnibus Plan. Vesting of the outstanding equity awards is also subject to accelerated vesting as set forth in the 2021 Omnibus Plan. A summary of the total employee compensation expense and related income tax benefits recognized for grants made under the 2021 Omnibus Plan is as follows: Three Months Ended Six Months Ended (In millions) 2024 2023 2024 2023 Employee compensation expense (1) $ 16 $ 22 $ (36) $ 43 Income tax benefit (3) (3) (5) (8) Employee compensation expense, net $ 13 $ 19 $ (41) $ 35 (1) For the six months ended June 30, 2024, includes $68 million of former CEO awards forfeited in March 2024. As of June 30, 2024, there was $118 million of total unrecognized employee compensation expense expected to be recognized over the remaining 1.8 years, on a weighted average basis, of the requisite service period that began on the grant dates of the outstanding awards. Stock Options and Stock Appreciation Rights A summary of stock option activity under the 2021 Omnibus plan for the first half of 2024 is presented below: Options Shares Weighted- Weighted- Aggregate Intrinsic Outstanding as of January 1, 2024 2,431,503 $ 26.17 6.7 $ — Granted — — — — Exercised — — — — Forfeited or Expired (499,439) 26.17 — — Outstanding as of June 30, 2024 1,932,064 26.17 7.2 — Exercisable as of June 30, 2024 (1,318,160) 26.17 7.2 — Non-vested as of June 30, 2024 613,904 Performance Stock Awards ("PSAs"), Performance Stock Units ("PSUs") and Performance Units ("PUs") A summary of the PSU activity for the first half of 2024 under the 2021 Omnibus Plan is presented below: Shares Weighted- Aggregate Intrinsic Outstanding as of January 1, 2024 9,102,738 $ 17.52 $ 95 Granted (1) 4,278,575 5.10 — Vested — — — Forfeited or Expired (2) (9,253,631) 17.19 — Outstanding as of June 30, 2024 4,127,682 5.38 15 (1) Presented assuming the issuance at the original target award amount (100%). (2) Includes former CEO awards forfeited in March 2024. Compensation expense for PSUs is based on the grant date fair value of Hertz Global common stock. For grants issued in 2024, vesting eligibility is based on market, performance and service conditions of primarily two Grants Assumption April 2024 June 2024 Expected volatility 60 % 65 % Expected dividend yield — % — % Expected term (years) 5 5 Risk-free interest rate 4.34 % 4.30 % Weighted-average grant date fair value $ 5.92 $ 1.71 As of June 30, 2024, there were no issued or outstanding grants of PSAs or PUs under the 2021 Omnibus Plan. Restricted Stock and Restricted Stock Units ("RSUs") A summary of RSU activity for the first half of 2024 under the 2021 Omnibus Plan is presented below: Shares Weighted- Aggregate Intrinsic Outstanding as of January 1, 2024 6,314,564 $ 15.71 $ 66 Granted 13,931,065 5.91 — Vested (1,834,935) 12.99 — Forfeited or Expired (1) (3,202,340) 13.36 — Outstanding as of June 30, 2024 15,208,354 7.56 54 (1) Includes former CEO awards forfeited in March 2024. Additional information pertaining to RSU activity is as follows: Six Months Ended June 30, 2024 2023 Total fair value of awards that vested (in millions) $ 24 $ 5 Weighted-average grant-date fair value of awards granted $ 5.91 $ 17.37 RSU grants issued in 2024 vest ratably over a period of three years. Deferred Stock Units As of June 30, 2024, there were approximately 151,000 outstanding shares of deferred stock units under the 2021 Omnibus Plan.

Financial Instruments

Financial Instruments	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Financial Instruments The Company employs established risk management policies and procedures, and, under the terms of our ABS facilities, may be required to enter into interest rate derivatives, which seek to reduce the Company’s commercial risk exposure to fluctuations in interest rates and currency exchange rates. Although the instruments utilized involve varying degrees of credit, market and interest risk, the Company contracts with multiple counterparties to mitigate concentrations of risk and the counterparties to the agreements are expected to perform fully under the terms of the agreements. The Company monitors counterparty credit risk, including lenders, on a regular basis, but cannot be certain that all risks will be discerned or that its risk management policies and procedures will always be effective. Additionally, upon the occurrence of an event of default under the Company’s International Swaps and Derivatives Association ("ISDA") master derivative agreements, the non-defaulting party generally has the right, but not the obligation, to set-off any early termination amounts under any such agreements against any other amounts owed with regard to any other agreements between the parties to each such agreement. None of the Company's financial instruments have been designated as hedging instruments as of June 30, 2024 and December 31, 2023. The Company classifies cash flows from financial instruments according to the classification of the cash flows of the economically hedged item(s). Interest Rate Risk The Company uses a combination of interest rate caps and swaps to manage its exposure to interest rate movements and to manage its mix of floating and fixed-rate debt. Currency Exchange Rate Risk The Company uses foreign currency exchange rate derivative financial instruments to manage its currency exposure resulting from intercompany transactions and other cross currency obligations. Fair Value The following table summarizes the estimated fair value of financial instruments: Fair Value of Financial Instruments Asset Derivatives Liability Derivatives (In millions) June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Interest rate instruments (1) $ 5 $ 10 $ — $ — Foreign currency forward contracts (1) 3 5 3 2 Exchange Feature related to Exchangeable Notes (2) — — 68 — Total $ 8 $ 15 $ 71 $ 2 (1) All asset derivatives are recorded in prepaid expenses and other assets and all liability derivatives are recorded in accrued liabilities in the accompanying unaudited condensed consolidated balance sheets. (2) The Exchange Feature, as disclosed in Note 6, "Debt," is recorded in non-vehicle debt in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2024. The following table summarizes the gains or (losses) on financial instruments for the period indicated: Location of Gain (Loss) Recognized on Derivatives Amount of Gain (Loss) Recognized in Income on Derivatives Three Months Ended Six Months Ended (In millions) 2024 2023 2024 2023 Interest rate instruments Vehicle interest expense, net $ (3) $ 7 $ (2) $ 11 Foreign currency forward contracts Selling, general and administrative expense 3 (5) (9) (10) Total $ — $ 2 $ (11) $ 1 Gains and losses associated with the Exchange Feature of the Exchangeable Notes are recorded in non-vehicle interest expense, net in the accompanying unaudited condensed consolidated statement of operations. The Exchange Feature was bifurcated as a derivative upon issuance of the Exchangeable Notes in June 2024, as further disclosed in Note 6, "Debt." During the three and six months ended June 30, 2024, no gains or losses were recognized for the Exchange Feature. In the first quarter of 2023, the Company sold certain of its interest rate caps resulting in a net gain of $10 million based on the recognition of a $98 million realized gain on the unwind, of which $88 million was previously unrealized. The Company's foreign currency forward contracts and certain interest rate instruments are subject to enforceable master netting agreements with their counterparties. The Company does not offset such derivative assets and liabilities in its unaudited condensed consolidated balance sheets, and the potential effect of the Company’s use of the master netting arrangements is not material.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Under 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. Fair Value Disclosures 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. Debt Obligations The fair value of the debt facilities 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). June 30, 2024 December 31, 2023 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Other Non-Vehicle Debt $ 4,435 $ 3,757 $ 3,515 $ 3,285 Exchangeable Notes (1) 250 250 — — Total Non-Vehicle Debt 4,685 4,007 3,515 3,285 Vehicle Debt 12,831 12,496 12,314 11,878 Total $ 17,516 $ 16,503 $ 15,829 $ 15,163 (1) As of June 30, 2024, the nominal unpaid principal balance and aggregate fair value of the Exchangeable Notes include $68 million related to the Exchange Feature, which is measured based on Level 3 inputs as disclosed below. Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table summarizes the Company's assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy as follows: June 30, 2024 December 31, 2023 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents and restricted cash equivalents $ 107 $ — $ — $ 107 $ 362 $ — $ — $ 362 Liabilities: Public Warrants $ 203 $ — $ — $ 203 $ 453 $ — $ — $ 453 Exchange Feature $ — $ — $ 68 $ 68 $ — $ — $ — $ — Cash Equival ents and Restricted Cash Equivalents 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 and restricted cash equivalents using a market approach based on quoted prices in active markets (i.e., Level 1 inputs). Public Warrants - Hertz Global Hertz Global's Public Warrants are classified as liabilities and recorded at fair value in the accompanying unaudited condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023 in accordance with the provisions of ASC 480, Distinguishing Liabilities from Equity . See Note 9, "Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global," for additional information. The Company calculates the fair value based on the end-of-day quoted market price (i.e., a Level 1 input). For the three and six months ended June 30, 2024, the fair value adjustments were gains of $165 million and $251 million, respectively. For the three and six months ended June 30, 2023, the fair value adjustment were losses of $100 million and $218 million, respectively. These amounts are recorded in change in fair value of Public Warrants in the accompanying unaudited condensed consolidated statement of operations for Hertz Global for the three and six months ended June 30, 2024 and 2023. Exchange Feature The Exchangeable Notes contain an embedded conversion feature, the Exchange Feature, that is required to be bifurcated and accounted for separately from the Exchangeable Notes as a derivative liability at fair value. Refer to Note 6, "Debt," and Note 11, "Financial Instruments," for further information. The fair value of the Exchange Feature was determined using a lattice model and a “with-and-without” valuation methodology. The inputs used to estimate the fair value of the Exchange Feature include the probability of potential settlement scenarios, the expected timing of such settlement and an expected volatility determined by reference to historical stock volatilities. As the expected volatility input is considered unobservable, the Company has categorized the Exchange Feature as Level 3 in the fair value hierarchy. The estimated fair value of the Exchange Feature was computed using the following key inputs at the measurement date upon issuance: June 30, 2024 Hertz Global common share price $ 3.53 Expected term (years) 5.05 Risk-free interest rate 4.33 % Expected volatility 48.75 % During the three and six months ended June 30, 2024, no gains or losses were recognized for the Exchange Feature. The following table summarizes the activity related to the fair value of the Exchange Feature: (In millions) Three Months Ended June 30, 2024 Fair value at the beginning of the period $ — Initial recognition of derivative liability 68 Fair value at the end of the period $ 68 Financial Instruments The fair value of the Company's financial instruments as of June 30, 2024 and December 31, 2023 are disclosed in Note 11, "Financial Instruments." The Company's financial instruments, excluding the Exchange Feature as disclosed above, are priced using quoted market prices for similar assets or liabilities in active markets (i.e., Level 2 inputs). Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis In December 2023, the First EV Disposal Group was classified as held for sale and recorded at fair value (as determined using Level 2 inputs) less costs to sell. As of June 30, 2024, the remaining, unsold portion of the First EV Disposal Group continues to be classified as held for sale and is recorded at the lower of carrying value or fair value (as determined using Level 2 inputs) less costs to sell. In response to management's determination that the supply of EVs in the Company's fleet continued to exceed customer demand, elevated EV damage and collision costs and a decline in residual values, the Second EV Disposal Group was classified as held for sale as of March 31, 2024. As of June 30, 2024, the remaining, unsold portion of the Second EV Disposal Group continues to be classified as held for sale and is recorded at the lower of carrying value or fair value (as determined using Level 2 inputs) less costs to sell. See Note 4, "Revenue Earning Vehicles," for additional information.

Contingencies and Off-Balance S

Contingencies and Off-Balance Sheet Commitments	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Off-Balance Sheet Commitments	Contingencies and Off-Balance Sheet Commitments Legal Proceedings Self-Insured Liabilities The Company is currently a defendant in numerous actions and has received numerous claims on which actions have not yet commenced for self-insured liabilities arising from the operation of motor vehicles rented from the Company. The obligation for self-insured liabilities on self-insured U.S. and international vehicles, as stated in the accompanying unaudited condensed consolidated balance sheets, represents an estimate for both reported accident claims not yet paid and claims incurred but not yet reported. The related liabilities are recorded on 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 June 30, 2024 and December 31, 2023, the Company's liability recorded for self-insured liabilities was $501 million and $471 million, of which $361 million and $336 million relates to liabilities incurred by the Company's Americas RAC operations, 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 monitored quarterly 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. The Company has summarized below the material legal proceedings to which the Company was a party during the three months ended June 30, 2024 or the period after June 30, 2024, but before the filing of this Quarterly Report. Make-Whole and Post-Petition Interest Claims – On July 1, 2021, Wells Fargo Bank, N.A. ("Wells Fargo"), in its capacity as indenture trustee of (1) 6.250% Unsecured Notes due 2022 (the "2022 Notes"), (2) 5.500% Unsecured Notes due 2024 (the "2024 Notes"), (3) 7.125% Unsecured Notes due 2026 and (4) 6.000% Unsecured Notes due 2028 issued by The Hertz Corporation (collectively, the “Unsecured Notes”), filed a complaint against The Hertz Corporation and multiple direct and indirect subsidiaries thereof (collectively referred to in this paragraph summary as “defendants”). The filing of the complaint initiated the adversary proceeding captioned Wells Fargo Bank, National Association v. The Hertz Corporation, et al. in the United States Bankruptcy Court for the District of Delaware (the "Delaware Bankruptcy Court"), Adv. Pro. No. 21-50995 (MFW). The complaint seeks a declaratory judgment that the holders of the Unsecured Notes are entitled to payment of certain redemption premiums and post-petition interest that the holders assert total approximately $272 million or, in the alternative, are entitled to payment of post-petition interest at a contractual rate that they assert totals approximately $125 million. The complaint also asserts the right to pre-judgment interest from July 1, 2021 to the date of any judgment. On December 22, 2021, the Delaware Bankruptcy Court dismissed Wells Fargo’s claims with respect to (i) the redemption premium allegedly owed on the 2022 Notes and the 2024 Notes and (ii) post-petition interest at the contract rate. On November 9, 2022, the Delaware Bankruptcy Court ruled that the make-whole premium is the same as unmatured interest and is disallowed under the U.S. Bankruptcy Code, granting summary judgment in the defendants’ favor. The Delaware Bankruptcy Court certified the matter directly to the U.S. Court of Appeals for the Third Circuit (the “Third Circuit”) and, on January 25, 2023, the Third Circuit accepted Wells Fargo’s appeal. The Third Circuit held an oral argument for this appeal on October 25, 2023, and the parties are awaiting the Third Circuit's decision. The Company cannot predict the ultimate outcome or timing of this litigation; however, an adverse ruling by the Third Circuit, followed by an entry of judgment against Hertz by the Delaware Bankruptcy Court, could have a material adverse effect on the Company's financial condition, results of operations or cash flows. Claims Related to Alleged False Arrests – A group of claims involving allegations that the police detained or arrested individuals in error after the Company reported rental cars as stolen were previously advanced against the Company. These claims first arose from actions allegedly taken by the Company prior to its emergence from bankruptcy reorganization; some claims alleged post-emergence behavior by the Company. These claims have been the subject of press coverage, and the Company has received government inquiries on the matter. The Company has policies to help guide the proper treatment of its customers and to seek to protect itself against the theft of its services or assets, and the Company has taken significant steps to modernize and update those policies. In December 2022, the Company entered into settlement agreements with 364 claimants in full and final resolutions of their claims for an aggregated amount of approximately $168 million (the "Settlement"), all of which amount was paid by the Company during December 2022. The Settlement resolved nearly all of the false arrest-related claims being advanced in the U.S. Bankruptcy Court for the District of Delaware, Adv. Pro. No. 20-11247 (MFW) and state court in Delaware (captioned Flannery, et al. v. Hertz Global Holdings, Inc., et al., C.A. No. N22C-07-100 and Okoasia, et al. v. Hertz Global Holdings, Inc., et al., C.A. No. N22C-09-531 ). Also, as a result of the Settlements, state court matters pending in Pennsylvania, captioned Lovelace, et al. v. Hertz Global Holdings, Inc., et al., Case No. 220801729 , and in Florida, captioned Lizasoain, et al. v. Hertz Global Holdings, Inc., et al., Case No. 2022-015316-CA-1, were dismissed with prejudice. The Company continues to vigorously defend itself and believes that the ultimate resolution of any remaining claims will not have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. Relatedly, in May 2022, the Company filed a complaint against several of its insurers seeking a determination of its rights under its commercial general liability, and directors and officers liability, insurance policies for these alleged claims in a declaratory judgment action pending in Delaware Superior Court, Hertz Global Holdings, Inc., et al. v. ACE American Insurance Co., et al., C.A. No. N22C-05-130 MMJ (CCLD) . On June 30, 2023, Hertz entered into a confidential settlement with ACE American Insurance Company. The case is ongoing against the remaining insurers. Share Repurchase Program Litigation – On May 11, 2023, Angelo Cascia, a purported stockholder of Hertz Global, filed a putative class and derivative lawsuit in the Delaware Court of Chancery (the "Delaware Chancery Court") against certain current and former directors of Hertz Global, Knighthead Capital Management, LLC, Certares Opportunities LLC and CK Amarillo LP. The claims in the complaint relate to the Company’s share repurchase programs approved in November 2021 and June 2022. Among other allegations, the plaintiff claims Board members breached their fiduciary duties in approving these share repurchase programs and that Knighthead, Certares, and CK Amarillo were unjustly enriched because they gained a majority stake in Hertz Global as a result of share repurchases. Defendants filed their motion to dismiss the complaint on July 24, 2023. On March 11, 2024, the Delaware Chancery Court held a hearing on defendants' motion to dismiss. On June 20, 2024, the Delaware Chancery Court granted in part and denied in part the defendants' motion to dismiss. The Delaware Chancery Court dismissed the claims against directors Feiken, Fields, Intrieri and Vougessis with prejudice, dismissed the claims related to the 2021 buyback without prejudice and allowed the remaining claims to proceed. Securities Class Action Complaint – On May 31, 2024, a complaint was filed in the United States District Court for the Middle District of Florida, captioned Edward M. Doller v. Hertz Global Holdings, Inc. et al . (No. 2:24-CV-00513). The complaint asserts claims against Hertz Holdings, former Company CEO, Stephen M. Scherr, and former Company Chief Financial Officer, Alexandra Brooks, alleging violations of Sections 10(b) and 20(a) of the Exchange Act and Rule 10b-5 promulgated thereunder, concerning statements regarding the financial impact of vehicle depreciation and demand for EVs. Plaintiffs assert claims on behalf of a putative class, consisting of all persons and entities that purchased or otherwise acquired Hertz Holdings’ securities between April 27, 2023 and April 24, 2024. The complaint seeks unspecified damages, together with interest, attorneys’ fees and other costs. Warrant Holder Litigation – The holders of approximately 11% of the outstanding Public Warrants issued by Hertz Holdings under the Warrant Agreement, dated as of June 30, 2021 (the “Warrant Agreement”), filed a lawsuit, captioned Discovery Global Opportunity Master Fund, Ltd. v. Hertz Global Holdings, Inc ., Case No. 2024-0655 (the “Action”), in the Delaware Chancery Court, on June 14, 2024. The complaint in the Action alleges generally that a “Change of Control Event” (as defined in the Warrant Agreement) had occurred by virtue of Hertz Holdings’ repurchase of shares between November 2021 and December 31, 2023 and Hertz Holdings’ incurrence of indebtedness. The complaint further asserts that, as a result of the alleged Change of Control Event, the plaintiffs are entitled to a “Change of Control Payment Amount” (as defined in the Warrant Agreement) in the amount of $20.47 per Public Warrant, or approximately $188 million in the aggregate, for their 11% position. The complaint asserts three claims for breach of contract and seeks a declaration from the Delaware Chancery Court that a Change of Control Event has occurred and that Hertz Holdings breached the Warrant Agreement by failing to redeem the warrants, monetary damages of at least $188 million plus pre- and post-judgment interest, and an order of specific performance, requiring Hertz Holdings to comply with its contractual obligations under the Warrant Agreement. On June 17, 2024, Hertz Holdings filed a motion to dismiss the complaint. 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 self-insured liabilities, none of those reserves are material. For matters 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 could be decided unfavorably to the Company or any of its subsidiaries involved. Accordingly, it is possible that an adverse outcome from such a proceeding could exceed the amount accrued in an amount that could be material to the Company's consolidated financial condition, results of operations or cash flows in any particular reporting period. 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 separation of the car rental business in 2016, the Company executed an agreement with Herc Holdings Inc. 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	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Other Relationships On June 19, 2024, Hertz entered into a Note Purchase Agreement (“NPA”) with Knighthead Annuity & Life Assurance Company, Knighthead Distressed Opportunities Fund, L.P., Knighthead (NY) Fund, L.P., Knighthead Master Fund, L.P. and CK Opportunities Fund I, LP (collectively, the “Investors”), which entities are investors affiliated with CK Amarillo LP, an affiliate of Hertz Holdings, in connection with a backstop for Hertz's Exchangeable Notes offering, as disclosed in Note 6, "Debt." Under the terms of the NPA, Hertz had the right, but not the obligation, to sell to the Investors up to approximately $44 million in aggregate principal amount of Exchangeable Notes at the same price paid by investors in the offering of Exchangeable Notes. At the time of issuance, the Investors purchased approximately $44 million of the Exchangeable Notes on terms no less favorable than those purchased by non-related parties in the offering.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s chief operating decision maker ("CODM") assesses performance and allocates resources based upon the financial information for the Company’s reportable segments. The Company has identified two reportable segments, which are consistent with its operating segments and organized based on the products and services provided and the geographic areas in which business is conducted, as follows: • Americas RAC – Rental of vehicles (cars, crossovers, vans and light trucks), as well as sales of value-added services, in the U.S., Canada, Latin America and the Caribbean; and • International RAC – Rental of vehicles (cars, crossovers, vans and light trucks), as well as sales of value-added services, in locations other than the U.S., Canada, Latin America and the Caribbean. In addition to its reportable segments and other operating activities, the Company has corporate operations ("Corporate") 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. The following tables provide significant statement of operations and balance sheet information by reportable segment for each of Hertz Global and Hertz, as well as Adjusted EBITDA, the measure used to determine segment profitability. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Revenues Americas RAC $ 1,928 $ 2,015 $ 3,667 $ 3,745 International RAC 425 422 766 739 Total Hertz Global and Hertz $ 2,353 $ 2,437 $ 4,433 $ 4,484 Depreciation of revenue earning vehicles and lease charges, net Americas RAC (1) $ 905 $ 272 $ 1,781 $ 621 International RAC 130 57 223 89 Total Hertz Global and Hertz $ 1,035 $ 329 $ 2,004 $ 710 Adjusted EBITDA Americas RAC $ (403) $ 331 $ (891) $ 592 International RAC (6) 96 (33) 149 Total reportable segments (409) 427 (924) 741 Corporate (51) (80) (103) (157) Total Hertz Global and Hertz $ (460) $ 347 $ (1,027) $ 584 As of (In millions) June 30, 2024 December 31, 2023 Revenue earning vehicles, net Americas RAC (2) $ 12,822 $ 12,450 International RAC 2,547 2,201 Total Hertz Global and Hertz $ 15,369 $ 14,651 Total assets Americas RAC $ 19,755 $ 19,252 International RAC 4,383 4,245 Total reportable segments 24,138 23,497 Corporate 1,047 1,108 Total Hertz Global (3) 25,185 24,605 Corporate - Hertz — (1) Total Hertz (3) $ 25,185 $ 24,604 (1) For the three and six months ended June 30, 2024, includes the write-down to carrying value of vehicles classified as held for sale, including the First EV Disposal Group and the Second EV Disposal Group. See Note 4, "Revenue Earning Vehicles." (2) Includes the carrying amount of vehicles classified as held for sale as of the respective balance sheet date, including the First EV Disposal Group and the Second EV Disposal Group. See Note 4, "Revenue Earning Vehicles." (3) The consolidated total assets of Hertz Global and Hertz as of June 30, 2024 and December 31, 2023 include total assets of VIEs of $1.8 billion and $1.7 billion, respectively, which can only be used to settle obligations of the VIEs. See "Pledges Related to Vehicle Financing" in Note 6, "Debt," for further information. Reconciliations of Adjusted EBITDA by reportable segment to consolidated amounts are summarized below: Hertz Global Three Months Ended Six Months Ended (In millions) 2024 2023 2024 2023 Adjusted EBITDA: Americas RAC $ (403) $ 331 $ (891) $ 592 International RAC (6) 96 (33) 149 Total reportable segments (409) 427 (924) 741 Corporate (1) (51) (80) (103) (157) Total Hertz Global (460) 347 (1,027) 584 Adjustments: Non-vehicle depreciation and amortization (41) (32) (73) (67) Non-vehicle debt interest, net (88) (56) (163) (107) Vehicle debt-related charges (2) (10) (10) (22) (20) Restructuring and restructuring related charges (3) (12) (5) (44) (8) Change in fair value of Public Warrants (4) 165 (100) 251 (218) Unrealized gains (losses) on financial instruments (5) (2) 2 (8) (106) Gain on sale of non-vehicle capital assets (6) — — — 162 Non-cash stock-based compensation forfeitures (7) — — 64 — Other items (8) (25) 12 (32) — Income (loss) before income taxes $ (473) $ 158 $ (1,054) $ 220 Hertz Three Months Ended Six Months Ended (In millions) 2024 2023 2024 2023 Adjusted EBITDA: Americas RAC $ (403) $ 331 $ (891) $ 592 International RAC (6) 96 (33) 149 Total reportable segments (409) 427 (924) 741 Corporate (1) (51) (80) (103) (157) Total Hertz (460) 347 (1,027) 584 Adjustments: Non-vehicle depreciation and amortization (41) (32) (73) (67) Non-vehicle debt interest, net (88) (56) (163) (107) Vehicle debt-related charges (2) (10) (10) (22) (20) Restructuring and restructuring related charges (3) (12) (5) (44) (8) Unrealized gains (losses) on financial instruments (5) (2) 2 (8) (106) Gain on sale of non-vehicle capital assets (6) — — — 162 Non-cash stock-based compensation forfeitures (7) — — 64 — Other items (8) (25) 12 (32) — Income (loss) before income taxes $ (638) $ 258 $ (1,305) $ 438 (1) Represents other reconciling items primarily consisting of general corporate expenses and 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) Represents charges incurred under restructuring actions as defined in U.S. GAAP. Also includes restructuring related charges such as incremental costs incurred related to personnel reductions and closure of underperforming locations. (4) Represents the change in fair value during the reporting period for the Company's outstanding Public Warrants. (5) Represents unrealized gains (losses) on derivative financial instruments. In 2023, also includes the realization of $88 million of previously unrealized gains resulting from the unwind of certain interest rate caps in the first quarter of 2023. See Note 11, "Financial Instruments." (6) Represents gain on sale of certain non-vehicle capital assets sold in March 2023. See Note 3, "Divestitures." (7) Represents former CEO awards forfeited in March 2024. See Note 10, "Stock-Based Compensation." (8) Represents miscellaneous items. For the three and six months ended June 30, 2024, primarily includes certain IT-related charges, cloud computing costs and certain storm-related damages, partially offset by certain litigation settlements. For the three and six months ended June 30, 2023, primarily includes a loss recovery settlement, partially offset by certain IT-related charges.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ (865)	$ (186)	$ 139	$ 196	$ (1,051)	$ 335

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Rec_2

Basis of Presentation and Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation This Quarterly Report on Form 10-Q ("Quarterly Report") combines the quarterly reports on Form 10-Q for the quarterly period ended June 30, 2024 of Hertz Global and Hertz. Hertz Global consolidates Hertz for financial statement purposes and, therefore, disclosures that relate to activities of Hertz also apply to Hertz Global. In the sections that combine disclosure of Hertz Global and Hertz, this report refers to actions as being actions of the Company, or Hertz Global, which is appropriate because the business is one enterprise and Hertz Global operates the business through Hertz. When appropriate, Hertz Global and Hertz are named specifically for their individual disclosures and any significant differences between the operations and results of Hertz Global and Hertz are separately disclosed and explained. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”). In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. The Company's vehicle rental operations are typically a seasonal business, with decreased levels of business in the winter months and heightened activity during the spring and summer months for the majority of countries where the Company generates revenues. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes. Actual results could differ materially from those estimates.
Principles of Consolidation	Principles of Consolidation The unaudited condensed 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 unaudited condensed 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 of the VIE. All significant intercompany transactions have been eliminated in consolidation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Not yet adopted Improvements to Reportable Segment Disclosures In November 2023, the Financial Accounting Standards Board ("FASB") issued guidance that modifies segment reporting disclosure requirements, primarily through enhanced disclosures about significant segment expenses. The guidance is effective for annual periods beginning after December 15, 2023 and interim periods beginning after December 15, 2024 using a retrospective transition method. Early adoption is permitted. The Company will adopt the guidance when it becomes effective and will include the required disclosures in its Annual Report on Form 10-K for the year ending December 31, 2024. The Company anticipates the adoption of this guidance to have a material impact on its disclosures. Improvements to Income Tax Disclosures In December 2023, the FASB issued guidance to enhance income tax disclosures related to, among other items, rate reconciliation and income taxes paid. The guidance is effective for annual periods beginning after December 15, 2024 using a prospective transition method. Early adoption and retrospective application are permitted. The Company is in the process of determining the timing of adoption and assessing the overall impact of adopting this guidance on its disclosures.

Revenue Earning Vehicles (Table

Revenue Earning Vehicles (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Components of Revenue Earning Vehicles, Net	The components of revenue earning vehicles, net are as follows: (In millions) June 30, December 31, Revenue earning vehicles $ 17,773 $ 16,164 Less accumulated depreciation (2,753) (2,155) 15,020 14,009 Revenue earning vehicles held for sale, net (1) 349 642 Revenue earning vehicles, net $ 15,369 $ 14,651 (1) Represents the carrying amount of vehicles classified as held for sale as of the respective balance sheet date, including the First EV Disposal Group and the Second EV Disposal Group, each as defined and disclosed below.
Schedule of Depreciation of Revenue Earning Vehicles and Lease Charges	Depreciation of revenue earning vehicles and lease charges, net includes the following: Three Months Ended Six Months Ended (In millions) 2024 2023 2024 2023 Depreciation of revenue earning vehicles $ 844 $ 432 $ 1,528 $ 854 (Gain) loss on disposal of revenue earning vehicles (1) 182 (110) 458 (156) Rents paid for vehicles leased 9 7 18 12 Depreciation of revenue earning vehicles and lease charges, net $ 1,035 $ 329 $ 2,004 $ 710 (1) Includes the write-down to fair value for vehicles classified as held for sale, including the First EV Disposal Group and Second EV Disposal Group as disclosed below, for the three and six months ended June 30, 2024.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Components of Debt	The Company's debt, including its available credit facilities, consists of the following ($ in millions) as of June 30, 2024 and December 31, 2023: Facility Weighted-Average Interest Rate as of June 30, 2024 Fixed or Maturity June 30, December 31, Non-Vehicle Debt First Lien RCF 8.67% Floating 6/2026 $ 160 $ — Term B Loan 8.86% Floating 6/2028 1,261 1,268 Incremental Term B Loan 9.08% Floating 6/2028 498 500 Term C Loan 8.86% Floating 6/2028 245 245 First Lien Senior Notes 12.63% Fixed 7/2029 750 — Exchangeable Notes (1) 8.00% Fixed 7/2029 250 — Senior Notes Due 2026 4.63% Fixed 12/2026 500 500 Senior Notes Due 2029 5.00% Fixed 12/2029 1,000 1,000 Other Non-Vehicle Debt (2) 7.08% Fixed Various 21 2 Unamortized Debt Issuance Costs and Net (Discount) Premium (3) (90) (66) Total Non-Vehicle Debt 4,595 3,449 Facility Weighted-Average Interest Rate as of June 30, 2024 Fixed or Maturity June 30, December 31, Vehicle Debt HVF III U.S. ABS Program HVF III U.S. Vehicle Variable Funding Notes HVF III Series 2021-A Class A (4) 6.95% Floating 4/2026 1,952 1,492 HVF III Series 2021-A Class B (4) 9.44% Fixed 8/2025 188 188 2,140 1,680 HVF III U.S. Vehicle Medium Term Notes HVF III Series 2021-1 (4) 1.66% Fixed 12/2024 2,000 2,000 HVF III Series 2021-2 (4) 2.12% Fixed 12/2026 2,000 2,000 HVF III Series 2022-1 (4) 2.44% Fixed 6/2025 750 750 HVF III Series 2022-2 (4) 2.78% Fixed 6/2027 750 750 HVF III Series 2022-3 (4) N/A Fixed 3/2024 — 192 HVF III Series 2022-4 (4) 4.22% Fixed 9/2025 667 667 HVF III Series 2022-5 (4) 4.39% Fixed 9/2027 364 364 HVF III Series 2023-1 (4) 6.17% Fixed 6/2026 500 500 HVF III Series 2023-2 (4) 6.30% Fixed 9/2028 300 300 HVF III Series 2023-3 (4) 6.46% Fixed 2/2027 500 500 HVF III Series 2023-4 () 6.66% Fixed 3/2029 500 500 8,331 8,523 Vehicle Debt - Other European ABS (3) 5.47% Floating 3/2026 1,314 1,205 Hertz Canadian Securitization (4) 6.50% Floating 4/2026 450 350 Australian Securitization (4) 5.94% Floating 6/2025 208 203 New Zealand RCF 8.44% Floating 6/2025 57 70 U.K. Financing Facility 7.85% Floating 7/2024-5/2028 187 173 Other Vehicle Debt (5) 6.68% Floating 7/2024-5/2028 144 110 2,360 2,111 Unamortized Debt Issuance Costs and Net (Discount) Premium (57) (72) Total Vehicle Debt 12,774 12,242 Total Debt $ 17,369 $ 15,691 (1) As a result of the bifurcated Exchange Feature, as disclosed below, the effective interest rate at issuance and as of June 30, 2024 was approximately 14.4%. (2) Other non-vehicle debt is primarily comprised of $21 million and $1 million in finance lease obligations (3) Includes approximately $9 million of unamortized debt issuances costs associated with the Exchangeable Notes as of June 30, 2024. (4) 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 expect the outstanding principal of the relevant indebtedness to be repaid in full. The legal final maturity date is the date on which the outstanding principal of the relevant indebtedness is legally due and payable in full. (5) Other vehicle debt is primarily comprised of $98 million and $104 million in finance lease obligations as of June 30, 2024 and December 31, 2023, respectively.
Schedule of Facilities Available Net of Outstanding Letters of Credit	The following facilities were available to the Company as of June 30, 2024 and are presented net of any outstanding letters of credit: (In millions) Remaining Availability Under Non-Vehicle Debt First Lien RCF $ 1,257 $ 1,257 Total Non-Vehicle Debt 1,257 1,257 Vehicle Debt HVF III Series 2021-A 1,813 — European ABS 254 — Hertz Canadian Securitization 6 — Australian Securitization 18 — New Zealand RCF 16 — U.K. Financing Facility 9 3 Other Vehicle Debt 7 — Total Vehicle Debt 2,123 3 Total $ 3,380 $ 1,260

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
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 unaudited condensed consolidated statements of operations: Three Months Ended Six Months Ended (In millions) 2024 2023 2024 2023 Operating lease income from vehicle rentals $ 2,130 $ 2,214 $ 4,013 $ 4,073 Variable operating lease income 163 165 304 297 Revenue accounted for under Topic 842 2,293 2,379 4,317 4,370 Revenue accounted for under Topic 606 60 58 116 114 Total revenues $ 2,353 $ 2,437 $ 4,433 $ 4,484

Public Warrants, Equity and E_2

Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted earnings (loss) per common share: Three Months Ended Six Months Ended (In millions, except per share data) (1) 2024 2023 2024 2023 Numerator: Net income (loss) available to Hertz Global common stockholders, basic and diluted $ (865) $ 139 $ (1,051) $ 335 Denominator: Basic weighted-average common shares outstanding 306 314 306 318 Dilutive effect of stock options, RSUs and PSUs — 1 — 1 Diluted weighted-average shares outstanding 306 315 306 319 Antidilutive Public Warrants 142 13 99 15 Antidilutive stock options, RSUs and PSUs 13 6 11 6 Antidilutive shares related to Exchangeable Notes 1 — 1 — Total antidilutive 156 19 111 21 Earnings (loss) per common share: Basic $ (2.82) $ 0.44 $ (3.44) $ 1.06 Diluted $ (2.82) $ 0.44 $ (3.44) $ 1.05 (1) The table above is denoted in millions, excluding earnings (loss) per common share. Amounts are calculated from the underlying numbers in thousands, and as a result, may not agree to the amounts shown in the table when calculated in millions.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Payment Arrangement, Cost by Plan	A summary of the total employee compensation expense and related income tax benefits recognized for grants made under the 2021 Omnibus Plan is as follows: Three Months Ended Six Months Ended (In millions) 2024 2023 2024 2023 Employee compensation expense (1) $ 16 $ 22 $ (36) $ 43 Income tax benefit (3) (3) (5) (8) Employee compensation expense, net $ 13 $ 19 $ (41) $ 35 (1) For the six months ended June 30, 2024, includes $68 million of former CEO awards forfeited in March 2024.
Summary of Stock Option Activity	A summary of stock option activity under the 2021 Omnibus plan for the first half of 2024 is presented below: Options Shares Weighted- Weighted- Aggregate Intrinsic Outstanding as of January 1, 2024 2,431,503 $ 26.17 6.7 $ — Granted — — — — Exercised — — — — Forfeited or Expired (499,439) 26.17 — — Outstanding as of June 30, 2024 1,932,064 26.17 7.2 — Exercisable as of June 30, 2024 (1,318,160) 26.17 7.2 — Non-vested as of June 30, 2024 613,904
Summary of PSU Activity	A summary of the PSU activity for the first half of 2024 under the 2021 Omnibus Plan is presented below: Shares Weighted- Aggregate Intrinsic Outstanding as of January 1, 2024 9,102,738 $ 17.52 $ 95 Granted (1) 4,278,575 5.10 — Vested — — — Forfeited or Expired (2) (9,253,631) 17.19 — Outstanding as of June 30, 2024 4,127,682 5.38 15 (1) Presented assuming the issuance at the original target award amount (100%). (2) Includes former CEO awards forfeited in March 2024.
Summary of RSU Activity	A summary of RSU activity for the first half of 2024 under the 2021 Omnibus Plan is presented below: Shares Weighted- Aggregate Intrinsic Outstanding as of January 1, 2024 6,314,564 $ 15.71 $ 66 Granted 13,931,065 5.91 — Vested (1,834,935) 12.99 — Forfeited or Expired (1) (3,202,340) 13.36 — Outstanding as of June 30, 2024 15,208,354 7.56 54 (1) Includes former CEO awards forfeited in March 2024. Additional information pertaining to RSU activity is as follows: Six Months Ended June 30, 2024 2023 Total fair value of awards that vested (in millions) $ 24 $ 5 Weighted-average grant-date fair value of awards granted $ 5.91 $ 17.37
Schedule of Valuation Assumptions	Certain of these PSUs, which were granted during the months of April and June in the second quarter of 2024, were valued on the respective grant date using a Monte Carlo simulation model that incorporates the assumptions noted in the following table: Grants Assumption April 2024 June 2024 Expected volatility 60 % 65 % Expected dividend yield — % — % Expected term (years) 5 5 Risk-free interest rate 4.34 % 4.30 % Weighted-average grant date fair value $ 5.92 $ 1.71

Financial Instruments (Tables)

Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Financial Instruments	The following table summarizes the estimated fair value of financial instruments: Fair Value of Financial Instruments Asset Derivatives Liability Derivatives (In millions) June 30, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Interest rate instruments (1) $ 5 $ 10 $ — $ — Foreign currency forward contracts (1) 3 5 3 2 Exchange Feature related to Exchangeable Notes (2) — — 68 — Total $ 8 $ 15 $ 71 $ 2 (1) All asset derivatives are recorded in prepaid expenses and other assets and all liability derivatives are recorded in accrued liabilities in the accompanying unaudited condensed consolidated balance sheets. (2) The Exchange Feature, as disclosed in Note 6, "Debt," is recorded in non-vehicle debt in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2024.
Schedule of Derivative Instruments Included in Trading Activities	The following table summarizes the gains or (losses) on financial instruments for the period indicated: Location of Gain (Loss) Recognized on Derivatives Amount of Gain (Loss) Recognized in Income on Derivatives Three Months Ended Six Months Ended (In millions) 2024 2023 2024 2023 Interest rate instruments Vehicle interest expense, net $ (3) $ 7 $ (2) $ 11 Foreign currency forward contracts Selling, general and administrative expense 3 (5) (9) (10) Total $ — $ 2 $ (11) $ 1

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	The fair value of the debt facilities 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). June 30, 2024 December 31, 2023 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Other Non-Vehicle Debt $ 4,435 $ 3,757 $ 3,515 $ 3,285 Exchangeable Notes (1) 250 250 — — Total Non-Vehicle Debt 4,685 4,007 3,515 3,285 Vehicle Debt 12,831 12,496 12,314 11,878 Total $ 17,516 $ 16,503 $ 15,829 $ 15,163 (1) As of June 30, 2024, the nominal unpaid principal balance and aggregate fair value of the Exchangeable Notes include $68 million related to the Exchange Feature, which is measured based on Level 3 inputs as disclosed below.
Fair Value Measurements, Recurring	The following table summarizes the Company's assets and liabilities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy as follows: June 30, 2024 December 31, 2023 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents and restricted cash equivalents $ 107 $ — $ — $ 107 $ 362 $ — $ — $ 362 Liabilities: Public Warrants $ 203 $ — $ — $ 203 $ 453 $ — $ — $ 453 Exchange Feature $ — $ — $ 68 $ 68 $ — $ — $ — $ —
Schedule of Key Inputs Used in Fair Value Computation	The estimated fair value of the Exchange Feature was computed using the following key inputs at the measurement date upon issuance: June 30, 2024 Hertz Global common share price $ 3.53 Expected term (years) 5.05 Risk-free interest rate 4.33 % Expected volatility 48.75 %
Summary of Activity Related to Fair Value of Exchange Feature	During the three and six months ended June 30, 2024, no gains or losses were recognized for the Exchange Feature. The following table summarizes the activity related to the fair value of the Exchange Feature: (In millions) Three Months Ended June 30, 2024 Fair value at the beginning of the period $ — Initial recognition of derivative liability 68 Fair value at the end of the period $ 68

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables provide significant statement of operations and balance sheet information by reportable segment for each of Hertz Global and Hertz, as well as Adjusted EBITDA, the measure used to determine segment profitability. Three Months Ended June 30, Six Months Ended June 30, (In millions) 2024 2023 2024 2023 Revenues Americas RAC $ 1,928 $ 2,015 $ 3,667 $ 3,745 International RAC 425 422 766 739 Total Hertz Global and Hertz $ 2,353 $ 2,437 $ 4,433 $ 4,484 Depreciation of revenue earning vehicles and lease charges, net Americas RAC (1) $ 905 $ 272 $ 1,781 $ 621 International RAC 130 57 223 89 Total Hertz Global and Hertz $ 1,035 $ 329 $ 2,004 $ 710 Adjusted EBITDA Americas RAC $ (403) $ 331 $ (891) $ 592 International RAC (6) 96 (33) 149 Total reportable segments (409) 427 (924) 741 Corporate (51) (80) (103) (157) Total Hertz Global and Hertz $ (460) $ 347 $ (1,027) $ 584 As of (In millions) June 30, 2024 December 31, 2023 Revenue earning vehicles, net Americas RAC (2) $ 12,822 $ 12,450 International RAC 2,547 2,201 Total Hertz Global and Hertz $ 15,369 $ 14,651 Total assets Americas RAC $ 19,755 $ 19,252 International RAC 4,383 4,245 Total reportable segments 24,138 23,497 Corporate 1,047 1,108 Total Hertz Global (3) 25,185 24,605 Corporate - Hertz — (1) Total Hertz (3) $ 25,185 $ 24,604 (1) For the three and six months ended June 30, 2024, includes the write-down to carrying value of vehicles classified as held for sale, including the First EV Disposal Group and the Second EV Disposal Group. See Note 4, "Revenue Earning Vehicles." (2) Includes the carrying amount of vehicles classified as held for sale as of the respective balance sheet date, including the First EV Disposal Group and the Second EV Disposal Group. See Note 4, "Revenue Earning Vehicles." (3) The consolidated total assets of Hertz Global and Hertz as of June 30, 2024 and December 31, 2023 include total assets of VIEs of $1.8 billion and $1.7 billion, respectively, which can only be used to settle obligations of the VIEs. See "Pledges Related to Vehicle Financing" in Note 6, "Debt," for further information. Reconciliations of Adjusted EBITDA by reportable segment to consolidated amounts are summarized below: Hertz Global Three Months Ended Six Months Ended (In millions) 2024 2023 2024 2023 Adjusted EBITDA: Americas RAC $ (403) $ 331 $ (891) $ 592 International RAC (6) 96 (33) 149 Total reportable segments (409) 427 (924) 741 Corporate (1) (51) (80) (103) (157) Total Hertz Global (460) 347 (1,027) 584 Adjustments: Non-vehicle depreciation and amortization (41) (32) (73) (67) Non-vehicle debt interest, net (88) (56) (163) (107) Vehicle debt-related charges (2) (10) (10) (22) (20) Restructuring and restructuring related charges (3) (12) (5) (44) (8) Change in fair value of Public Warrants (4) 165 (100) 251 (218) Unrealized gains (losses) on financial instruments (5) (2) 2 (8) (106) Gain on sale of non-vehicle capital assets (6) — — — 162 Non-cash stock-based compensation forfeitures (7) — — 64 — Other items (8) (25) 12 (32) — Income (loss) before income taxes $ (473) $ 158 $ (1,054) $ 220 Hertz Three Months Ended Six Months Ended (In millions) 2024 2023 2024 2023 Adjusted EBITDA: Americas RAC $ (403) $ 331 $ (891) $ 592 International RAC (6) 96 (33) 149 Total reportable segments (409) 427 (924) 741 Corporate (1) (51) (80) (103) (157) Total Hertz (460) 347 (1,027) 584 Adjustments: Non-vehicle depreciation and amortization (41) (32) (73) (67) Non-vehicle debt interest, net (88) (56) (163) (107) Vehicle debt-related charges (2) (10) (10) (22) (20) Restructuring and restructuring related charges (3) (12) (5) (44) (8) Unrealized gains (losses) on financial instruments (5) (2) 2 (8) (106) Gain on sale of non-vehicle capital assets (6) — — — 162 Non-cash stock-based compensation forfeitures (7) — — 64 — Other items (8) (25) 12 (32) — Income (loss) before income taxes $ (638) $ 258 $ (1,305) $ 438 (1) Represents other reconciling items primarily consisting of general corporate expenses and 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) Represents charges incurred under restructuring actions as defined in U.S. GAAP. Also includes restructuring related charges such as incremental costs incurred related to personnel reductions and closure of underperforming locations. (4) Represents the change in fair value during the reporting period for the Company's outstanding Public Warrants. (5) Represents unrealized gains (losses) on derivative financial instruments. In 2023, also includes the realization of $88 million of previously unrealized gains resulting from the unwind of certain interest rate caps in the first quarter of 2023. See Note 11, "Financial Instruments." (6) Represents gain on sale of certain non-vehicle capital assets sold in March 2023. See Note 3, "Divestitures." (7) Represents former CEO awards forfeited in March 2024. See Note 10, "Stock-Based Compensation." (8) Represents miscellaneous items. For the three and six months ended June 30, 2024, primarily includes certain IT-related charges, cloud computing costs and certain storm-related damages, partially offset by certain litigation settlements. For the three and six months ended June 30, 2023, primarily includes a loss recovery settlement, partially offset by certain IT-related charges.

Divestitures (Details)

Divestitures (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Gain) loss on sale of non-vehicle capital assets		$ (3)	$ 165
Non-vehicle Capital Assets | Americas RAC
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Gain) loss on sale of non-vehicle capital assets	$ 29
Los Angeles, California Airport Location
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale and leaseback transaction, gain (loss), net			133
Sale leaseback transaction, gross amount			143
Sale leaseback transaction, net book value	$ 9		9
Sale and leaseback transaction, selling costs			$ 1
Term of lease contract	36 months		36 months

Revenue Earning Vehicles - Comp

Revenue Earning Vehicles - Components of Revenue Earning Vehicles (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Long-Lived Assets Held-for-sale [Line Items]
Revenue earning vehicles, net	$ 15,369	$ 14,651
Vehicles Held For Sale
Long-Lived Assets Held-for-sale [Line Items]
Revenue earning vehicles held for sale, net	349	642
Vehicles, Including Held-For-Sale
Long-Lived Assets Held-for-sale [Line Items]
Revenue earning vehicles	17,773	16,164
Less accumulated depreciation	(2,753)	(2,155)
Revenue earning vehicles less accumulated depreciation	$ 15,020	$ 14,009

Revenue Earning Vehicles - Sche

Revenue Earning Vehicles - Schedule of Depreciation of Revenue Earning Vehicles and Lease Charges (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue from Contract with Customer [Abstract]
Depreciation of revenue earning vehicles	$ 844	$ 432	$ 1,528	$ 854
(Gain) loss on disposal of revenue earning vehicles	182	(110)	458	(156)
Rents paid for vehicles leased	9	7	18	12
Depreciation of revenue earning vehicles and lease charges, net	$ 1,035	$ 329	$ 2,004	$ 710

Revenue Earning Vehicles - Narr

Revenue Earning Vehicles - Narrative (Details) vehicle in Thousands, employee in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($)	Mar. 31, 2024 USD ($) vehicle employee	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Disposal Group, Held-for-Sale, Not Discontinued Operations | EV Disposal Group
Long-Lived Assets Held-for-sale [Line Items]
Disposal group, including discontinued operation, property, plant and equipment, current				$ 542
Disposal group, not discontinued operation, loss (gain) on write-down			$ 44
Disposal Group, Held-for-Sale, Not Discontinued Operations | Second EV Disposal Group
Long-Lived Assets Held-for-sale [Line Items]
Disposal group, not discontinued operation, loss (gain) on write-down	$ 6
Disposal Group, Held-for-Sale, Not Discontinued Operations | Second EV Disposal Group | Americas Rental Car segment
Long-Lived Assets Held-for-sale [Line Items]
Disposal group, including discontinued operation, property, plant and equipment, current	82		82
Disposal group, not discontinued operation, loss (gain) on write-down	14	$ 107
Disposal group, number of electric vehicles | vehicle		9
Disposal Group, Held-for-Sale, Not Discontinued Operations | Second EV Disposal Group | International RAC
Long-Lived Assets Held-for-sale [Line Items]
Disposal group, including discontinued operation, property, plant and equipment, current	17		$ 17
Disposal group, not discontinued operation, loss (gain) on write-down	$ 4	$ 7
Disposal group, number of electric vehicles | employee		1
Disposal Group, Disposed of by Sale, Not Discontinued Operations | EV Disposal Group
Long-Lived Assets Held-for-sale [Line Items]
Disposal group, including discontinued operations, percentage of disposal group sold	90%		90%
Disposal group, not discontinued operation, loss (gain) on write-down			$ 41
Disposal group, including discontinued operations, property, plant and equipment	$ 30		$ 30
Disposal Group, Disposed of by Sale, Not Discontinued Operations | Second EV Disposal Group
Long-Lived Assets Held-for-sale [Line Items]
Disposal group, including discontinued operations, percentage of disposal group sold	60%		60%

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Details) $ in Millions	3 Months Ended
	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 0
Intangible assets	$ 2,858	$ 2,863
Tradenames | Americas Rental Car segment
Finite-Lived Intangible Assets [Line Items]
Goodwill and intangible assets, percentage of fair value exceeding carrying value, minimum	0.12
Intangible assets	$ 934
Valuation, Income Approach | Measurement Input, Long-Term Growth Rate
Finite-Lived Intangible Assets [Line Items]
Goodwill, long-term growth rate	0.02
Minimum | Valuation, Income Approach | Measurement Input, Discount Rate
Finite-Lived Intangible Assets [Line Items]
Goodwill, discount rate	19%
Maximum | Valuation, Income Approach | Measurement Input, Discount Rate
Finite-Lived Intangible Assets [Line Items]
Goodwill, discount rate	12%

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs and Net (Discount) Premium	$ (90)	$ (66)
Total Debt	$ 17,369	$ 15,691
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total Debt	Total Debt
Non Vehicle Debt
Debt Instrument [Line Items]
Total Debt	$ 4,595	$ 3,449
First Lien RCF | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.67%
Outstanding principal	$ 160	0
Term B Loan | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.86%
Outstanding principal	$ 1,261	1,268
Incremental Term B Loan | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	9.08%
Outstanding principal	$ 498	500
Term C Loan | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.86%
Outstanding principal	$ 245	245
First Lien Senior Notes | Senior Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	12.63%
Outstanding principal	$ 750	0
Exchangeable Notes
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs and Net (Discount) Premium	$ (9)
Exchangeable Notes | Senior Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	8%
Outstanding principal	$ 250	0
Effective interest rate	14.40%
Senior Notes Due 2026 | Senior Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.63%
Outstanding principal	$ 500	500
Senior Notes Due 2029 | Senior Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	5%
Outstanding principal	$ 1,000	1,000
Other Non-Vehicle Debt
Debt Instrument [Line Items]
Average interest rate (as a percent)	7.08%
Outstanding principal	$ 21	2
Finance lease liability	21		$ 1
Vehicle Debt
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs and Net (Discount) Premium	(57)	(72)
Total Debt	12,774	12,242
HVF III U.S. Vehicle Variable Funding Notes
Debt Instrument [Line Items]
Outstanding principal	$ 2,140	1,680
HVF III Series 2021-A Class A
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.95%
Outstanding principal	$ 1,952	1,492
HVF III Series 2021-A Class B
Debt Instrument [Line Items]
Average interest rate (as a percent)	9.44%
Outstanding principal	$ 188	188
HVF III U.S. Vehicle Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal	$ 8,331	8,523
HVF III Series 2021-1 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.66%
Outstanding principal	$ 2,000	2,000
HVF III Series 2021-2 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.12%
Outstanding principal	$ 2,000	2,000
HVF III Series 2022-1 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.44%
Outstanding principal	$ 750	750
HVF III Series 2022-2 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.78%
Outstanding principal	$ 750	750
HVF III Series 2022-3 | Medium-term Notes
Debt Instrument [Line Items]
Outstanding principal	$ 0	192
HVF III Series 2022-4 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.22%
Outstanding principal	$ 667	667
HVF III Series 2022-5 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.39%
Outstanding principal	$ 364	364
HVF III Series 2023-1 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.17%
Outstanding principal	$ 500	500
HVF III Series 2023-2 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.30%
Outstanding principal	$ 300	300
HVF III Series 2023-3 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.46%
Outstanding principal	$ 500	500
HVF III Series 2023-4 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.66%
Outstanding principal	$ 500	500
Vehicle Debt - Other
Debt Instrument [Line Items]
Outstanding principal	$ 2,360	2,111
European ABS
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.47%
Outstanding principal	$ 1,314	1,205
Hertz Canadian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.50%
Outstanding principal	$ 450	350
Australian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.94%
Outstanding principal	$ 208	203
New Zealand RCF
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.44%
New Zealand RCF | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding principal	$ 57	70
U.K. Financing Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)	7.85%
Outstanding principal	$ 187	173
Other Vehicle Debt
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.68%
Outstanding principal	$ 144	110
Finance lease liability	$ 98	$ 104

Debt - Narrative (Details)

Debt - Narrative (Details) $ / shares in Units, £ in Millions, $ in Millions, € in Billions		1 Months Ended	3 Months Ended	6 Months Ended
		Jun. 30, 2024 USD ($) $ / shares	Jun. 30, 2024 USD ($) $ / shares	Jun. 30, 2024 USD ($) $ / shares	Mar. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Dec. 31, 2024 CAD ($)	Nov. 30, 2024 GBP (£)	Oct. 31, 2024 GBP (£)	Sep. 30, 2024 USD ($)	Jul. 31, 2024 USD ($)	Jul. 31, 2024 GBP (£)	Jun. 30, 2024 GBP (£)	May 30, 2024 GBP (£)	Apr. 30, 2024 EUR (€)	Apr. 30, 2024 CAD ($)	Apr. 01, 2024 EUR (€)	Mar. 31, 2024 EUR (€)	Mar. 31, 2024 CAD ($)	Dec. 31, 2023 USD ($)
Debt Instrument [Line Items]
Remaining capacity		$ 3,380,000,000	$ 3,380,000,000	$ 3,380,000,000
Total assets	[1]	25,185,000,000	25,185,000,000	25,185,000,000																	$ 24,605,000,000
Liabilities	[1]	23,227,000,000	23,227,000,000	23,227,000,000																	21,513,000,000
Accounts payable		995,000,000	995,000,000	$ 995,000,000																	701,000,000
Variable Interest Entity, Primary Beneficiary
Debt Instrument [Line Items]
Ownership percentage				25%
Total assets		1,800,000,000	1,800,000,000	$ 1,800,000,000																	1,700,000,000
Liabilities		1,800,000,000	1,800,000,000	1,800,000,000																	1,700,000,000
Letter of Credit
Debt Instrument [Line Items]
Outstanding standby letters of credit		843,000,000	$ 843,000,000	843,000,000
First Lien RCF
Debt Instrument [Line Items]
Debt instrument, covenant, debt to consolidated EBITDA ratio, period one			5
Debt instrument, covenant, debt to consolidated EBITDA ratio, period two			4.75
Debt instrument, covenant, liquidity, monthly minimum		400,000,000	$ 400,000,000	400,000,000
Remaining capacity		$ 1,257,000,000	$ 1,257,000,000	$ 1,257,000,000
Maximum consolidated leverage ratio		3.5	3.5	3.5										3.5					3	3
First Lien RCF | Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding standby letters of credit		$ 245,000,000	$ 245,000,000	$ 245,000,000
First Lien RCF | Forecast
Debt Instrument [Line Items]
Debt instrument, covenant, liquidity, monthly minimum					$ 500,000,000	$ 500,000,000					$ 400,000,000
Maximum consolidated leverage ratio						3	3	3			3.5
European ABS
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount		1,314,000,000	1,314,000,000	1,314,000,000																	1,205,000,000
Maximum borrowing capacity | €																€ 1.5		€ 1.3	€ 1.2
Remaining capacity		254,000,000	254,000,000	254,000,000
European ABS | Forecast
Debt Instrument [Line Items]
Maximum borrowing capacity | €							€ 1.3
Hertz Canadian Securitization
Debt Instrument [Line Items]
Maximum borrowing capacity																	$ 625			$ 475
Hertz Canadian Securitization | Forecast
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 475
Term C Loan | Letter of Credit
Debt Instrument [Line Items]
Outstanding standby letters of credit		583,000,000	583,000,000	583,000,000
Term C Loan | Medium-term Notes
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount		245,000,000	245,000,000	245,000,000																	245,000,000
Remaining capacity		0	0	0
Term C Loan and First Lien Revolving Credit Facility | Medium-term Notes
Debt Instrument [Line Items]
Long-term debt		0	0	0
First Lien Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount		$ 750,000,000	$ 750,000,000	$ 750,000,000																	0
Interest rate		12.625%	12.625%	12.625%										12.625%
Exchangeable Notes
Debt Instrument [Line Items]
Accounts payable		$ 68,000,000	$ 68,000,000	$ 68,000,000
Exchangeable Notes | Medium-term Notes
Debt Instrument [Line Items]
Debt instrument, conversion ratio		0.1509388
Exchangeable Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount		$ 250,000,000	$ 250,000,000	$ 250,000,000																	0
Interest rate		8%	8%	8%										8%
Debt instrument, conversion price (in dollars per share) | $ / shares		$ 6.6252	$ 6.6252	$ 6.6252
Debt instrument, threshold percentage of exchange price		250%
Exchangeable Notes | Senior Notes | CK Amarillo LP Investors | Hertz Holdings
Debt Instrument [Line Items]
Proceeds from exchangeable notes		$ 44,000,000
U.K. Financing Facility
Debt Instrument [Line Items]
Remaining capacity		9,000,000	$ 9,000,000	$ 9,000,000
U.K. Financing Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity | £														£ 155	£ 135
U.K. Financing Facility | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity | £													£ 170
U.K. Financing Facility | Forecast | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity | £									£ 170	£ 190
HVF III U.S. Vehicle Medium Term Notes
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount		$ 8,331,000,000	$ 8,331,000,000	$ 8,331,000,000																	$ 8,523,000,000
HVF III U.S. Vehicle Medium Term Notes | Subsequent Event
Debt Instrument [Line Items]
Long-term debt												$ 375,000,000
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2024 and December 31, 2023 include total assets of variable interest entities (“VIEs”) of $1.8 billion and $1.7 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2024 and December 31, 2023 include total liabilities of VIEs of $1.8 billion and $1.7 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Pledges Related to Vehicle Financing" in Note 6, "Debt," for further information.

Debt - Borrowing Capacity (Deta

Debt - Borrowing Capacity (Details) $ in Millions	Jun. 30, 2024 USD ($)
Debt Instrument [Line Items]
Remaining Capacity	$ 3,380
Availability Under Borrowing Base Limitation	1,260
Non-Vehicle Debt
Debt Instrument [Line Items]
Remaining Capacity	1,257
Availability Under Borrowing Base Limitation	1,257
First Lien RCF
Debt Instrument [Line Items]
Remaining Capacity	1,257
Availability Under Borrowing Base Limitation	1,257
Vehicle Debt
Debt Instrument [Line Items]
Remaining Capacity	2,123
Availability Under Borrowing Base Limitation	3
HVF III Series 2021-A
Debt Instrument [Line Items]
Remaining Capacity	1,813
Availability Under Borrowing Base Limitation	0
European ABS
Debt Instrument [Line Items]
Remaining Capacity	254
Availability Under Borrowing Base Limitation	0
Hertz Canadian Securitization
Debt Instrument [Line Items]
Remaining Capacity	6
Availability Under Borrowing Base Limitation	0
Australian Securitization
Debt Instrument [Line Items]
Remaining Capacity	18
Availability Under Borrowing Base Limitation	0
New Zealand RCF
Debt Instrument [Line Items]
Remaining Capacity	16
Availability Under Borrowing Base Limitation	0
U.K. Financing Facility
Debt Instrument [Line Items]
Remaining Capacity	9
Availability Under Borrowing Base Limitation	3
Other Vehicle Debt
Debt Instrument [Line Items]
Remaining Capacity	7
Availability Under Borrowing Base Limitation	$ 0

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Lessor, Lease, Description [Line Items]
Revenues	$ 2,293	$ 2,379	$ 4,317	$ 4,370
Variable operating lease income	163	165	304	297
Revenue accounted for under Topic 606	60	58	116	114
Revenues	2,353	2,437	4,433	4,484
Vehicle Rentals, Operating Lease
Lessor, Lease, Description [Line Items]
Revenues	$ 2,130	$ 2,214	$ 4,013	$ 4,073

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Contingency [Line Items]
Income tax provision (benefit)	$ 392	$ 19	$ (3)	$ (115)
Effective tax rate (as percent)	83%	12%	0%	(52.00%)
The Hertz Corporation
Income Tax Contingency [Line Items]
Income tax provision (benefit)	$ 391	$ 18	$ (4)	$ (116)
Effective tax rate (as percent)	61%	7%	0%	(26.00%)

Public Warrants, Equity and E_3

Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended		25 Months Ended	37 Months Ended
	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2024	Jun. 28, 2024	Jun. 27, 2024	Jun. 30, 2022
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Warrants exercised (in shares)	4,337	8,763			6,343,967
Warrants exercised, cashless (in shares)	2,066	5,516
Warrants exercised, cash (in shares)	2,271	3,247
Exercise price of warrants (in dollars per share)	$ 13.80	$ 13.80		$ 13.80	$ 13.80	$ 13.61	$ 13.80
Number of securities called by warrants (in shares)						1.0140	1
Aggregate purchase price		$ 0	$ 222
2022 Share Repurchase Program
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Stock repurchase program, authorized amount								$ 2,000
Shares repurchased (in shares)		0		66,684,169
Aggregate purchase price				$ 1,100

Public Warrants, Equity and E_4

Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global (Basic and Diluted Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Numerator:
Net income (loss) available to Hertz Global common stockholders, basic	$ (865)	$ 139	$ (1,051)	$ 335
Net income (loss) available to Hertz Global common stockholders, diluted	$ (865)	$ 139	$ (1,051)	$ 335
Denominator:
Basic weighted-average common shares outstanding (in shares)	306	314	306	318
Dilutive effect of stock options, RSUs and PSUs (in shares)	0	1	0	1
Diluted weighted-average shares outstanding (in shares)	306	315	306	319
Total antidilutive (in shares)	156	19	111	21
Earnings (loss) per common share:
Basic (in dollars per share)	$ (2.82)	$ 0.44	$ (3.44)	$ 1.06
Diluted (in dollars per share)	$ (2.82)	$ 0.44	$ (3.44)	$ 1.05
Antidilutive stock options, RSUs and PSUs
Denominator:
Total antidilutive (in shares)	13	6	11	6
Antidilutive Public Warrants
Denominator:
Total antidilutive (in shares)	142	13	99	15
Antidilutive shares related to Exchangeable Notes
Denominator:
Total antidilutive (in shares)	1	0	1	0

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Performance Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	2 years
Performance Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	5 years
Omnibus Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	51,306,406
Unrecognized compensation cost	$ 118
Period for recognition of total unrecognized compensation cost	1 year 9 months 18 days
Omnibus Incentive Plan 2021 | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target award amount	100%
Shares outstanding (in shares)	4,127,682	9,102,738
Omnibus Incentive Plan 2021 | Performance Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target award amount	0%
Omnibus Incentive Plan 2021 | Performance Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target award amount	200%
Omnibus Incentive Plan 2021 | Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	0
Omnibus Incentive Plan 2021 | Performance Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	0
Omnibus Incentive Plan 2021 | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Shares outstanding (in shares)	15,208,354	6,314,564
Omnibus Incentive Plan 2021 | Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	151,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of the Total Compensation Expense and Associated Recognized Income Tax Benefits (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee compensation expense				$ 32	$ 43
Stock-based compensation forfeitures				68	0
Omnibus Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee compensation expense	$ 16		$ 22	(36)	43
Income tax benefit	(3)		(3)	(5)	(8)
Employee compensation expense, net	$ 13		$ 19	$ (41)	$ 35
Stock-based compensation forfeitures		$ 68

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock Option Activity (Details) - Omnibus Incentive Plan 2021 - USD ($) $ / shares in Units, $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Shares
Outstanding beginning balance (in shares)	2,431,503
Granted (in shares)	0
Exercised (in shares)	0
Forfeited or Expired (in shares)	(499,439)
Outstanding ending balance (in shares)	1,932,064	2,431,503
Exercisable (in shares)	(1,318,160)
Non-vested (in shares)	613,904
Weighted- Average Exercise Price
Outstanding beginning balance (in dollars per share)	$ 26.17
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited or Expired (in dollars per share)	26.17
Outstanding ending balance (in dollars per share)	26.17	$ 26.17
Exercisable (in dollars per share)	$ 26.17
Weighted-Average Remaining Contractual Term (years) / Aggregate Intrinsic Value (In millions)
Weighted average remaining contractual term, beginning and ending balance	7 years 2 months 12 days	6 years 8 months 12 days
Weighted average remaining contractual term, exercisable	7 years 2 months 12 days
Aggregate intrinsic value, beginning and ending balance	$ 0	$ 0
Aggregate intrinsic value, exercisable	$ 0

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of PSA and PSU Activity (Details) - Omnibus Incentive Plan 2021 - Performance Stock Units $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares
Shares
Outstanding beginning balance (in shares) | shares	9,102,738
Granted (in shares) | shares	4,278,575
Vested (in shares) | shares	0
Forfeited or Expired (in shares) | shares	(9,253,631)
Outstanding ending balance (in shares) | shares	4,127,682
Weighted- Average Fair Value
Outstanding beginning balance (in dollars per share) | $ / shares	$ 17.52
Granted (in dollars per share) | $ / shares	5.10
Vested (in dollars per share) | $ / shares	0
Forfeited or Expired (In dollars per share) | $ / shares	17.19
Outstanding ending balance (in dollars per share) | $ / shares	$ 5.38
Aggregate Intrinsic Value (In millions)
Beginning balance | $	$ 95
Ending Balance | $	$ 15
Target award amount	100%

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Valuation Assumptions (Details) - Performance Stock Units - Omnibus Incentive Plan 2021 - $ / shares	1 Months Ended	37 Months Ended
	Apr. 30, 2024	Jun. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	60%	65%
Expected dividend yield	0%	0%
Expected term (years)	5 years	5 years
Risk-free interest rate	4.34%	4.30%
Weighted-average grant date fair value (in dollars per share)	$ 5.92	$ 1.71

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of RSU Activity (Details) - Omnibus Incentive Plan 2021 - Restricted Stock Units - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Shares
Outstanding beginning balance (in shares)	6,314,564
Granted (in shares)	13,931,065
Vested (in shares)	(1,834,935)
Forfeited or Expired (in shares)	(3,202,340)
Outstanding ending balance (in shares)	15,208,354
Weighted- Average Fair Value
Outstanding beginning balance (in dollars per share)	$ 15.71
Granted (in dollars per share)	5.91	$ 17.37
Vested (in dollars per share)	12.99
Forfeited or Expired (In dollars per share)	13.36
Outstanding ending balance (in dollars per share)	$ 7.56
Aggregate Intrinsic Value (In millions)
Beginning balance	$ 66
Ending Balance	$ 54

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of Additional RSU Activity (Details) - Restricted Stock Units - Omnibus Incentive Plan 2021 - USD ($) $ / shares in Units, $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of awards that vested (in millions)	$ 24	$ 5
Weighted-average grant-date fair value of awards granted (in dollars per share)	$ 5.91	$ 17.37

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024 USD ($) instrument	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2024 USD ($) instrument	Jun. 30, 2023 USD ($)	Dec. 31, 2023 instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains or (losses) on financial instruments	$ 0	$ 2		$ (11)	$ 1
The Hertz Corporation
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) on sale of derivatives			$ 98
Unrealized gain (loss) on derivatives			88		88
Interest rate instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains or (losses) on financial instruments	$ (3)	$ 7		$ (2)	$ 11
Gain (loss) on sale of interest rate caps			$ 10
Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, number of instruments held | instrument	0			0		0

Financial Instruments - Schedul

Financial Instruments - Schedule of Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset derivatives	$ 8	$ 15
Liability derivatives	71	2
Interest rate instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset derivatives	5	10
Liability derivatives	0	0
Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset derivatives	3	5
Liability derivatives	3	2
Exchange Feature related to Exchangeable Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset derivatives	0	0
Liability derivatives	$ 68	$ 0

Financial Instruments - Summary

Financial Instruments - Summary of Financial Instruments, Gain (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains or (losses) on financial instruments	$ 0	$ 2	$ (11)	$ 1
Interest rate instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains or (losses) on financial instruments	(3)	7	(2)	11
Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains or (losses) on financial instruments	$ 3	$ (5)	$ (9)	$ (10)

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Exchange Feature related to Exchangeable Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exchange Feature	$ 68	$ 0
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	17,516	15,829
Aggregate Fair Value	16,503	15,163
Level 2 | Exchange Feature related to Exchangeable Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exchange Feature	0	0
Level 3 | Exchange Feature related to Exchangeable Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exchange Feature	68	0
Other Non-Vehicle Debt | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	4,685	3,515
Aggregate Fair Value	4,007	3,285
Other Non-Vehicle Debt | Level 2 | Other Non-Vehicle Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	4,435	3,515
Aggregate Fair Value	3,757	3,285
Other Non-Vehicle Debt | Level 2 | Senior Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	250	0
Aggregate Fair Value	250	0
Vehicle Debt | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	12,831	12,314
Aggregate Fair Value	$ 12,496	$ 11,878

Fair Value Measurements - Cash

Fair Value Measurements - Cash and Cash Equivalents and Investments (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash equivalents	$ 107	$ 362
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash equivalents	107	362
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash equivalents	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash equivalents	0	0
Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Public Warrants	203	453
Warrants | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Public Warrants	203	453
Warrants | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Public Warrants	0	0
Warrants | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Public Warrants	0	0
Exchange Feature
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exchange Feature	68	0
Exchange Feature | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exchange Feature	0	0
Exchange Feature | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exchange Feature	0	0
Exchange Feature | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Exchange Feature	$ 68	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Change in fair value of Public Warrants	$ (165)	$ 100	$ (251)	$ 218

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Key Inputs Used In Fair Value Computation (Details)	Jun. 30, 2024
Measurement Input, Share Price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	3.53
Measurement Input, Expected Term
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	5.05
Measurement Input, Risk Free Interest Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	0.0433
Measurement Input, Price Volatility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	0.4875

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Activity Related to Fair Value of Exchange Feature (Details) - Exchange Feature related to Exchangeable Notes - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Fair Value, Net Derivative Asset (Liability) Measured on Recurring Basis, Unobservable Input Reconciliation [Roll Forward]
Fair value at the beginning of the period	$ 0
Initial recognition of derivative liability	68
Fair value at the end of the period	68	$ 68
Fair value, liability, gain (losses) included in earnings	$ 0	$ 0

Contingencies and Off-Balance_2

Contingencies and Off-Balance Sheet Commitments (Details) $ / shares in Units, $ in Millions			1 Months Ended
	Jun. 14, 2024 USD ($) claim $ / shares	Jul. 01, 2021 USD ($)	Dec. 31, 2022 USD ($) claimant	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Self-insured liabilities				$ 501	$ 471
Settlement agreements, number of claimants | claimant			364
Litigation settlement			$ 168
Operating Segments | Americas Rental Car segment
Loss Contingencies [Line Items]
Self-insured liabilities				$ 361	$ 336
Pending Litigation | Wells Fargo Bank, National Association v. The Hertz Corporation | Payment of Certain Redemption Premiums And Post-Petition Interest
Loss Contingencies [Line Items]
Damages sought, value		$ 272
Pending Litigation | Wells Fargo Bank, National Association v. The Hertz Corporation | Payment of Post-Petition Interest
Loss Contingencies [Line Items]
Damages sought, value		$ 125
Pending Litigation | Discovery Global Opportunity Master Fund, Ltd. v. Hertz Global Holdings | Hertz Holdings
Loss Contingencies [Line Items]
Damages sought, value	$ 188
Class of warrant or right, outstanding, percentage	0.11
Class of warrant or right, change of control payment amount, per share (in dollars per share) | $ / shares	$ 20.47
Class of warrant or right, change of control amount	$ 188
Loss contingency, number of claims for breach of contract | claim	3
6.250% Senior Notes due October 2022
Loss Contingencies [Line Items]
Interest rate		6.25%
5.500% Senior Notes due October 2024
Loss Contingencies [Line Items]
Interest rate		5.50%
7.125% Senior Notes due August 2026
Loss Contingencies [Line Items]
Interest rate		7.125%
6.000% Senior Notes due January 2028
Loss Contingencies [Line Items]
Interest rate		6%

Related Party Transactions (Det

Related Party Transactions (Details) - Senior Notes - Exchangeable Notes - USD ($) $ in Millions	1 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Outstanding principal	$ 250	$ 0
CK Amarillo LP Investors
Related Party Transaction [Line Items]
Debt instrument, maximum principal amount available for sale	44
CK Amarillo LP Investors | Hertz Holdings
Related Party Transaction [Line Items]
Proceeds from exchangeable notes	$ 44

Segment Information - Narrative

Segment Information - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 segment
Segment Reporting [Abstract]
Number of reportable segments	2
Number of operating segments	2

Segment Information - Reportabl

Segment Information - Reportable Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues	$ 2,353	$ 2,437	$ 4,433	$ 4,484
Depreciation of revenue earning vehicles and lease charges, net	1,035	329	2,004	710
Adjusted EBITDA	(460)	347	(1,027)	584
Americas RAC
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues	1,928	2,015	3,667	3,745
Depreciation of revenue earning vehicles and lease charges, net	905	272	1,781	621
International RAC
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues	425	422	766	739
Depreciation of revenue earning vehicles and lease charges, net	130	57	223	89
Operating Segments
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA	(409)	427	(924)	741
Operating Segments | Americas RAC
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA	(403)	331	(891)	592
Operating Segments | International RAC
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA	(6)	96	(33)	149
Corporate
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA	$ (51)	$ (80)	$ (103)	$ (157)

Segment Information - Total Ass

Segment Information - Total Assets (Details) - USD ($) $ in Millions		Jun. 30, 2024	Dec. 31, 2023
Revenue earning equipment
Revenue earning vehicles, net		$ 15,369	$ 14,651
Total assets	[1]	25,185	24,605
Variable Interest Entity, Primary Beneficiary
Revenue earning equipment
Total assets		1,800	1,700
The Hertz Corporation
Revenue earning equipment
Revenue earning vehicles, net		15,369	14,651
Total assets	[2]	25,185	24,604
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Revenue earning equipment
Total assets		1,800	1,700
Americas RAC
Revenue earning equipment
Revenue earning vehicles, net		12,822	12,450
International RAC
Revenue earning equipment
Revenue earning vehicles, net		2,547	2,201
Operating Segments
Revenue earning equipment
Total assets		24,138	23,497
Operating Segments | Americas RAC
Revenue earning equipment
Total assets		19,755	19,252
Operating Segments | International RAC
Revenue earning equipment
Total assets		4,383	4,245
Corporate
Revenue earning equipment
Total assets		1,047	1,108
Corporate | The Hertz Corporation
Revenue earning equipment
Total assets		$ 0	$ (1)
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2024 and December 31, 2023 include total assets of variable interest entities (“VIEs”) of $1.8 billion and $1.7 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2024 and December 31, 2023 include total liabilities of VIEs of $1.8 billion and $1.7 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Pledges Related to Vehicle Financing" in Note 6, "Debt," for further information.[2]The Hertz Corporation's consolidated total assets as of June 30, 2024 and December 31, 2023 include total assets of VIEs of $1.8 billion and $1.7 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of June 30, 2024 and December 31, 2023 include total liabilities of VIEs of $1.8 billion and $1.7 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Pledges Related to Vehicle Financing" in Note 6, "Debt," for further information.

Segment Information - Pre-tax I

Segment Information - Pre-tax Income (Details) - USD ($) $ in Millions	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue earning equipment
Adjusted EBITDA	$ (460)	$ 347		$ (1,027)	$ 584
Income (loss) before income taxes	(473)	158		(1,054)	220
Restructuring and restructuring related charges
Revenue earning equipment
Income (loss) before income taxes	(12)	(5)		(44)	(8)
Change in fair value of Public Warrants
Revenue earning equipment
Income (loss) before income taxes	165	(100)		251	(218)
Unrealized gains (losses) on financial instruments
Revenue earning equipment
Income (loss) before income taxes	(2)	2		(8)	(106)
Gain on sale of non-vehicle capital assets
Revenue earning equipment
Income (loss) before income taxes	0	0		0	162
Gain on non-cash stock-based compensation
Revenue earning equipment
Income (loss) before income taxes	0	0
Other items
Revenue earning equipment
Income (loss) before income taxes	(25)	12		(32)	0
Operating Segments
Revenue earning equipment
Adjusted EBITDA	(409)	427		(924)	741
Operating Segments | Americas RAC
Revenue earning equipment
Adjusted EBITDA	(403)	331		(891)	592
Operating Segments | International RAC
Revenue earning equipment
Adjusted EBITDA	(6)	96		(33)	149
Corporate
Revenue earning equipment
Adjusted EBITDA	(51)	(80)		(103)	(157)
The Hertz Corporation
Revenue earning equipment
Adjusted EBITDA	(460)	347		(1,027)	584
Income (loss) before income taxes	(638)	258		(1,305)	438
Unrealized gain (loss) on derivatives			$ 88		88
The Hertz Corporation | Restructuring and restructuring related charges
Revenue earning equipment
Income (loss) before income taxes	(12)	(5)		(44)	(8)
The Hertz Corporation | Unrealized gains (losses) on financial instruments
Revenue earning equipment
Income (loss) before income taxes	(2)	2		(8)	(106)
The Hertz Corporation | Gain on sale of non-vehicle capital assets
Revenue earning equipment
Income (loss) before income taxes	0	0		0	162
The Hertz Corporation | Gain on non-cash stock-based compensation
Revenue earning equipment
Income (loss) before income taxes	0	0		64	0
The Hertz Corporation | Other items
Revenue earning equipment
Income (loss) before income taxes	(25)	12		(32)	0
The Hertz Corporation | Operating Segments
Revenue earning equipment
Adjusted EBITDA	(409)	427		(924)	741
The Hertz Corporation | Operating Segments | Americas RAC
Revenue earning equipment
Adjusted EBITDA	(403)	331		(891)	592
The Hertz Corporation | Operating Segments | International RAC
Revenue earning equipment
Adjusted EBITDA	(6)	96		(33)	149
The Hertz Corporation | Corporate
Revenue earning equipment
Adjusted EBITDA	(51)	(80)		(103)	(157)
Non-vehicle | Non-vehicle deprecation and amortization
Revenue earning equipment
Income (loss) before income taxes	(41)	(32)		(73)	(67)
Non-vehicle | Non-vehicle debt interest, net
Revenue earning equipment
Income (loss) before income taxes	(88)	(56)		(163)	(107)
Non-vehicle | The Hertz Corporation | Non-vehicle deprecation and amortization
Revenue earning equipment
Income (loss) before income taxes	(41)	(32)		(73)	(67)
Non-vehicle | The Hertz Corporation | Vehicle debt-related charges
Revenue earning equipment
Income (loss) before income taxes	(88)	(56)		(163)	(107)
Vehicles | Vehicle debt-related charges
Revenue earning equipment
Income (loss) before income taxes	(10)	(10)		(22)	(20)
Vehicles | The Hertz Corporation | Vehicle debt-related charges
Revenue earning equipment
Income (loss) before income taxes	$ (10)	$ (10)		$ (22)	$ (20)