Hertz Global (HTZ) 10-Q 12 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Nov. 05, 2024
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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		306,689,689
Entity Central Index Key	0001657853
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	HTZ
Security Exchange Name	NASDAQ
Antidilutive Public 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	Q3
Amendment Flag	false

HGH - CONDENSED CONSOLIDATED BA

HGH - CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents		$ 501	$ 764
Total restricted cash and cash equivalents		404	442
Total cash and cash equivalents and restricted cash and cash equivalents		905	1,206
Receivables		1,340	1,191
Prepaid expenses and other assets		927	726
Revenue earning vehicles:
Vehicles		13,543	16,806
Less: accumulated depreciation		(308)	(2,155)
Revenue earning vehicles, net		13,235	14,651
Property and equipment, net		639	671
Operating lease right-of-use assets		2,033	2,253
Intangible assets, net		2,856	2,863
Goodwill		1,044	1,044
Total assets	[1]	22,979	24,605
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		624	701
Accrued liabilities		1,176	860
Accrued taxes, net		222	157
Debt		16,956	15,691
Public Warrants		181	453
Operating lease liabilities		2,021	2,142
Self-insured liabilities		559	471
Deferred income taxes, net		559	1,038
Total liabilities	[1]	22,298	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, 481,324,312 and 479,990,286 shares issued, respectively, and 306,512,268 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		6,380	6,405
Retained earnings (Accumulated deficit)		(2,023)	360
Accumulated other comprehensive income (loss)		(251)	(248)
Total stockholder's equity		681	3,092
Total liabilities and stockholders' equity		22,979	24,605
Vehicles
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		131	191
Debt		12,303	12,242
Non Vehicle Debt
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		493	510
Debt		4,653	3,449
Vehicles
ASSETS
Total restricted cash and cash equivalents		116	152
Receivables		406	211
Non-vehicle
ASSETS
Total restricted cash and cash equivalents		288	290
Receivables		$ 934	$ 980
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of September 30, 2024 and December 31, 2023 include total assets of variable interest entities (“VIEs”) of $2.0 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 September 30, 2024 and December 31, 2023 include total liabilities of VIEs of $2.0 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 7, "Debt," for further information.

HGH - CONDENSED CONSOLIDATED _2

HGH - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions		Sep. 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)		481,324,312	479,990,286
Common stock, shares outstanding (in shares)		306,512,268	305,178,242
Treasury stock, common (in shares)		174,812,044	174,812,044
Total assets	[1]	$ 22,979	$ 24,605
Total liabilities	[1]	22,298	21,513
Variable Interest Entity, Primary Beneficiary
Total assets		2,000	1,700
Total liabilities		2,000	1,700
Non-vehicle
Accounts receivable, allowance for credit loss		$ 54	$ 47
The Hertz Corporation
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares issued (in shares)		100	100
Common stock, shares outstanding (in shares)		100	100
Total assets	[2]	$ 22,978	$ 24,604
Total liabilities	[2]	22,120	21,061
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Total assets		2,000	1,700
Total liabilities		2,000	1,700
The Hertz Corporation | Non-vehicle
Accounts receivable, allowance for credit loss		$ 54	$ 47
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of September 30, 2024 and December 31, 2023 include total assets of variable interest entities (“VIEs”) of $2.0 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 September 30, 2024 and December 31, 2023 include total liabilities of VIEs of $2.0 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 7, "Debt," for further information.[2]The Hertz Corporation's consolidated total assets as of September 30, 2024 and December 31, 2023 include total assets of VIEs of $2.0 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 September 30, 2024 and December 31, 2023 include total liabilities of VIEs of $2.0 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 7, "Debt," for further information.

THC - CONDENSED CONSOLIDATED BA

THC - CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions		Sep. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents		$ 501	$ 764
Total restricted cash and cash equivalents		404	442
Total cash and cash equivalents and restricted cash and cash equivalents		905	1,206
Receivables		1,340	1,191
Prepaid expenses and other assets		927	726
Revenue earning vehicles:
Vehicles		13,543	16,806
Less: accumulated depreciation		(308)	(2,155)
Revenue earning vehicles, net		13,235	14,651
Property and equipment, net		639	671
Operating lease right-of-use assets		2,033	2,253
Intangible assets, net		2,856	2,863
Goodwill		1,044	1,044
Total assets	[1]	22,979	24,605
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		624	701
Accrued liabilities		1,176	860
Accrued taxes, net		222	157
Debt		16,956	15,691
Operating lease liabilities		2,021	2,142
Self-insured liabilities		559	471
Deferred income taxes, net		559	1,038
Total liabilities	[1]	22,298	21,513
Commitments and contingencies
Stockholders' equity:
Common stock, $0.01 par value, 3,000 shares authorized and 100 shares issued and outstanding		5	5
Additional paid-in capital		6,380	6,405
Retained earnings (Accumulated deficit)		(2,023)	360
Accumulated other comprehensive income (loss)		(251)	(248)
Total stockholder's equity		681	3,092
Total liabilities and stockholders' equity		22,979	24,605
Vehicles
ASSETS
Total restricted cash and cash equivalents		116	152
Receivables		406	211
Non-vehicle
ASSETS
Total restricted cash and cash equivalents		288	290
Receivables		934	980
The Hertz Corporation
ASSETS
Cash and cash equivalents		501	764
Total restricted cash and cash equivalents		404	442
Total cash and cash equivalents and restricted cash and cash equivalents		905	1,206
Receivables		1,340	1,191
Prepaid expenses and other assets		926	725
Revenue earning vehicles:
Vehicles		13,543	16,806
Less: accumulated depreciation		(308)	(2,155)
Revenue earning vehicles, net		13,235	14,651
Property and equipment, net		639	671
Operating lease right-of-use assets		2,033	2,253
Intangible assets, net		2,856	2,863
Goodwill		1,044	1,044
Total assets	[2]	22,978	24,604
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		624	701
Accrued liabilities		1,176	860
Accrued taxes, net		222	155
Debt		16,956	15,691
Operating lease liabilities		2,021	2,142
Self-insured liabilities		559	471
Deferred income taxes, net		562	1,041
Total liabilities	[2]	22,120	21,061
Commitments and contingencies
Stockholders' equity:
Common stock, $0.01 par value, 3,000 shares authorized and 100 shares issued and outstanding		0	0
Additional paid-in capital		4,583	4,610
Retained earnings (Accumulated deficit)		(3,474)	(819)
Accumulated other comprehensive income (loss)		(251)	(248)
Total stockholder's equity		858	3,543
Total liabilities and stockholders' equity		22,978	24,604
The Hertz Corporation | Vehicles
ASSETS
Total restricted cash and cash equivalents		116	152
Receivables		406	211
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		131	191
Debt		12,303	12,242
The Hertz Corporation | Non-vehicle
ASSETS
Total restricted cash and cash equivalents		288	290
Receivables		934	980
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		493	510
Debt		$ 4,653	$ 3,449
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of September 30, 2024 and December 31, 2023 include total assets of variable interest entities (“VIEs”) of $2.0 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 September 30, 2024 and December 31, 2023 include total liabilities of VIEs of $2.0 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 7, "Debt," for further information.[2]The Hertz Corporation's consolidated total assets as of September 30, 2024 and December 31, 2023 include total assets of VIEs of $2.0 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 September 30, 2024 and December 31, 2023 include total liabilities of VIEs of $2.0 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 7, "Debt," for further information.

THC - CONDENSED CONSOLIDATED _2

THC - CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions		Sep. 30, 2024	Dec. 31, 2023
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares issued (in shares)		481,324,312	479,990,286
Common stock, shares outstanding (in shares)		306,512,268	305,178,242
Total assets	[1]	$ 22,979	$ 24,605
Total liabilities	[1]	22,298	21,513
Variable Interest Entity, Primary Beneficiary
Total assets		2,000	1,700
Total liabilities		2,000	1,700
Non-vehicle
Accounts receivable, allowance for credit loss		$ 54	$ 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
Common stock, shares outstanding (in shares)		100	100
Total assets	[2]	$ 22,978	$ 24,604
Total liabilities	[2]	22,120	21,061
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Total assets		2,000	1,700
Total liabilities		2,000	1,700
The Hertz Corporation | Non-vehicle
Accounts receivable, allowance for credit loss		$ 54	$ 47
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of September 30, 2024 and December 31, 2023 include total assets of variable interest entities (“VIEs”) of $2.0 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 September 30, 2024 and December 31, 2023 include total liabilities of VIEs of $2.0 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 7, "Debt," for further information.[2]The Hertz Corporation's consolidated total assets as of September 30, 2024 and December 31, 2023 include total assets of VIEs of $2.0 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 September 30, 2024 and December 31, 2023 include total liabilities of VIEs of $2.0 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 7, "Debt," for further information.

HGH - CONDENSED CONSOLIDATED ST

HGH - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Revenues	$ 2,576			$ 2,703			$ 7,009	$ 7,187
Expenses:
Direct vehicle and operating	1,470			1,499			4,276	4,067
Depreciation of revenue earning vehicles and lease charges, net	937			501			2,941	1,211
Non-vehicle depreciation and amortization	34			33			107	100
Selling, general and administrative	189			209			594	715
Interest expense, net	246			225			699	575
Other (income) expense, net	5			5			2	12
(Gain) on sale of non-vehicle capital assets	0			0			0	(162)
Bankruptcy-related litigation reserve	288			0			288	0
Long-Lived Assets impairment	1,048			0			1,048	0
Change in fair value of Public Warrants	(21)			(328)			(272)	(110)
Total expenses	4,196			2,144			9,683	6,408
Income (loss) before income taxes	(1,620)			559			(2,674)	779
Income tax (provision) benefit	288			70			291	185
Net income (loss)	$ (1,332)	$ (865)	$ (186)	$ 629	$ 139	$ 196	$ (2,383)	$ 964
Weighted-average common shares outstanding:
Basic (in shares)	307			311			306	315
Diluted (in shares)	307			327			306	332
Earnings (loss) per common share:
Basic (in dollars per share)	$ (4.34)			$ 2.02			$ (7.79)	$ 3.06
Diluted (in dollars per share)	$ (4.34)			$ 0.92			$ (7.79)	$ 2.57
Vehicles
Expenses:
Interest expense, net	$ 157			$ 162			$ 447	$ 405
Non-vehicle
Expenses:
Interest expense, net	$ 89			$ 63			$ 252	$ 170

THC - CONDENSED CONSOLIDATED ST

THC - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues:
Revenues	$ 2,576	$ 2,703	$ 7,009	$ 7,187
Expenses:
Direct vehicle and operating	1,470	1,499	4,276	4,067
Depreciation of revenue earning vehicles and lease charges, net	937	501	2,941	1,211
Non-vehicle depreciation and amortization	34	33	107	100
Selling, general and administrative	189	209	594	715
Interest expense, net	246	225	699	575
Other (income) expense, net	5	5	2	12
(Gain) on sale of non-vehicle capital assets	0	0	0	(162)
Bankruptcy-related litigation reserve	288	0	288	0
Long-Lived Assets impairment	1,048	0	1,048	0
Total expenses	4,196	2,144	9,683	6,408
Income (loss) before income taxes	(1,620)	559	(2,674)	779
Income tax (provision) benefit	288	70	291	185
Net income (loss)			(2,383)	964
Vehicles
Expenses:
Interest expense, net	157	162	447	405
Non-vehicle
Expenses:
Interest expense, net	89	63	252	170
The Hertz Corporation
Revenues:
Revenues	2,576	2,703	7,009	7,187
Expenses:
Direct vehicle and operating	1,470	1,499	4,276	4,067
Depreciation of revenue earning vehicles and lease charges, net	937	501	2,941	1,211
Non-vehicle depreciation and amortization	34	33	107	100
Selling, general and administrative	189	209	594	715
Interest expense, net	246	225	699	575
Other (income) expense, net	5	5	2	12
(Gain) on sale of non-vehicle capital assets	0	0	0	(162)
Bankruptcy-related litigation reserve	288	0	288	0
Long-Lived Assets impairment	1,048	0	1,048	0
Total expenses	4,217	2,472	9,955	6,518
Income (loss) before income taxes	(1,641)	231	(2,946)	669
Income tax (provision) benefit	287	68	291	184
Net income (loss)	(1,354)	299	(2,655)	853
The Hertz Corporation | Vehicles
Expenses:
Interest expense, net	157	162	447	405
The Hertz Corporation | Non-vehicle
Expenses:
Interest expense, net	$ 89	$ 63	$ 252	$ 170

HGH - CONDENSED CONSOLIDATED _3

HGH - CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (1,332)	$ 629	$ (2,383)	$ 964
Other comprehensive income (loss):
Foreign currency translation adjustments	40	(47)	(3)	(29)
Total other comprehensive income (loss)	40	(47)	(3)	(29)
Total comprehensive income (loss)	$ (1,292)	$ 582	$ (2,386)	$ 935

THC - CONDENSED CONSOLIDATED _3

THC - CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net income (loss)			$ (2,383)	$ 964
Other comprehensive income (loss):
Foreign currency translation adjustments	$ 40	$ (47)	(3)	(29)
Total other comprehensive income (loss)	40	(47)	(3)	(29)
The Hertz Corporation
Net income (loss)	(1,354)	299	(2,655)	853
Other comprehensive income (loss):
Foreign currency translation adjustments	40	(47)	(3)	(29)
Total other comprehensive income (loss)	40	(47)	(3)	(29)
Total comprehensive income (loss)	$ (1,314)	$ 252	$ (2,658)	$ 824

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
Beginning balance at Dec. 31, 2022			$ 0
Ending balance at Mar. 31, 2023			0
Beginning balance (in shares) at Dec. 31, 2022				323,000,000
Beginning balance at Dec. 31, 2022		$ 2,645		$ 5	$ 6,326	$ (256)	$ (294)	$ (3,136)
Beginning balance, Treasury stock (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, Treasury stock (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 Sep. 30, 2023			$ 0
Beginning balance (in shares) at Dec. 31, 2022				323,000,000
Beginning balance at Dec. 31, 2022		2,645		$ 5	6,326	(256)	(294)	$ (3,136)
Beginning balance, Treasury stock (in shares) at Dec. 31, 2022								155,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		964
Other comprehensive income (loss)		(29)
Ending balance (in shares) at Sep. 30, 2023				309,000,000
Ending balance, Treasury stock (in shares) at Sep. 30, 2023								170,000,000
Ending balance at Sep. 30, 2023		3,390		$ 5	6,389	708	(323)	$ (3,389)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)			0
Beginning balance at Mar. 31, 2023			$ 0
Ending balance at Jun. 30, 2023			$ 0
Beginning balance (in shares) at Mar. 31, 2023				318,000,000
Beginning balance at Mar. 31, 2023		2,774		$ 5	6,346	(60)	(280)	$ (3,237)
Beginning balance, Treasury stock (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, Treasury stock (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
Ending balance at Sep. 30, 2023			$ 0
Increase (Decrease) in Stockholders' Equity
Net income (loss)		629				629
Other comprehensive income (loss)		(47)					(47)
Net settlement on vesting of restricted stock		(2)			(2)
Stock-based compensation charges		22			22
Share repurchases (in shares)				3,000,000				3,000,000
Share repurchases		(51)						$ (51)
Ending balance (in shares) at Sep. 30, 2023				309,000,000
Ending balance, Treasury stock (in shares) at Sep. 30, 2023								170,000,000
Ending balance at Sep. 30, 2023		$ 3,390		$ 5	6,389	708	(323)	$ (3,389)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)			0
Preferred stock, shares outstanding (in shares)		0	0
Beginning balance at Dec. 31, 2023		$ 0	$ 0
Ending balance at Mar. 31, 2024			0
Beginning balance (in shares) at Dec. 31, 2023		305,178,242		305,000,000
Beginning balance at Dec. 31, 2023		$ 3,092		$ 5	6,405	360	(248)	$ (3,430)
Beginning balance, Treasury stock (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, Treasury stock (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 Sep. 30, 2024		$ 0	$ 0
Beginning balance (in shares) at Dec. 31, 2023		305,178,242		305,000,000
Beginning balance at Dec. 31, 2023		$ 3,092		$ 5	6,405	360	(248)	$ (3,430)
Beginning balance, Treasury stock (in shares) at Dec. 31, 2023		174,812,044						175,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		$ (2,383)
Other comprehensive income (loss)		$ (3)
Ending balance (in shares) at Sep. 30, 2024		306,512,268		307,000,000
Ending balance, Treasury stock (in shares) at Sep. 30, 2024		174,812,044						175,000,000
Ending balance at Sep. 30, 2024		$ 681		$ 5	6,380	(2,023)	(251)	$ (3,430)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)			0
Beginning balance at Mar. 31, 2024			$ 0
Ending balance at Jun. 30, 2024			$ 0
Beginning balance (in shares) at Mar. 31, 2024				306,000,000
Beginning balance at Mar. 31, 2024		2,812		$ 5	6,351	174	(288)	$ (3,430)
Beginning balance, Treasury stock (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)
Stock-based compensation charges		16			16
Ending balance (in shares) at Jun. 30, 2024				306,000,000
Ending balance, Treasury stock (in shares) at Jun. 30, 2024								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
Ending balance at Sep. 30, 2024		0	$ 0
Increase (Decrease) in Stockholders' Equity
Net income (loss)		(1,332)				(1,332)
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		(1)			(1)
Stock-based compensation charges		$ 16			16
Ending balance (in shares) at Sep. 30, 2024		306,512,268		307,000,000
Ending balance, Treasury stock (in shares) at Sep. 30, 2024		174,812,044						175,000,000
Ending balance at Sep. 30, 2024		$ 681		$ 5	$ 6,380	$ (2,023)	$ (251)	$ (3,430)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)		0	0
[1] (1) Represents former chief executive officer ("CEO") awards forfeited in March 2024. See also Note 11, "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
Beginning balance (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)
Beginning balance (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)	964
Other comprehensive income (loss)	(29)		(29)
Ending balance (in shares) at Sep. 30, 2023					309,000,000	100
Ending balance at Sep. 30, 2023	3,390		3,896		$ 5	$ 0	6,389		4,637		708	(418)	(323)	(323)
Beginning balance (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)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	629		299								629	299
Other comprehensive income (loss)	(47)		(47)										(47)	(47)
Stock-based compensation charges	22		22				22		22
Dividends paid to Hertz Holdings			(52)						(52)
Ending balance (in shares) at Sep. 30, 2023					309,000,000	100
Ending balance at Sep. 30, 2023	$ 3,390		$ 3,896		$ 5	$ 0	6,389		4,637		708	(418)	(323)	(323)
Beginning balance (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)
Beginning balance (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)	(2,383)
Other comprehensive income (loss)	$ (3)		$ (3)
Ending balance (in shares) at Sep. 30, 2024	306,512,268		100		307,000,000	100
Ending balance at Sep. 30, 2024	$ 681		$ 858		$ 5	$ 0	6,380		4,583		(2,023)	(3,474)	(251)	(251)
Beginning balance (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				16		16
Dividends paid to Hertz Holdings			(4)						(4)
Ending balance (in shares) at Jun. 30, 2024					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)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(1,332)		(1,354)								(1,332)	(1,354)
Other comprehensive income (loss)	40		40										40	40
Stock-based compensation charges	$ 16		16				16		16
Dividends paid to Hertz Holdings			$ (1)						(1)
Ending balance (in shares) at Sep. 30, 2024	306,512,268		100		307,000,000	100
Ending balance at Sep. 30, 2024	$ 681		$ 858		$ 5	$ 0	$ 6,380		$ 4,583		$ (2,023)	$ (3,474)	$ (251)	$ (251)
[1] (1) Represents former chief executive officer ("CEO") awards forfeited in March 2024. See also Note 11, "Stock-Based Compensation."

HGH - CONDENSED CONSOLIDATED _5

HGH - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ (2,383)	$ 964
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles, net	3,219	1,490
Depreciation and amortization, non-vehicle	107	100
Amortization of deferred financing costs and debt discount (premium)	54	44
Stock-based compensation charges	48	65
Stock-based compensation forfeitures	68	0
Provision for receivables allowance	94	67
Deferred income taxes, net	(379)	(236)
Long-Lived Assets impairment	1,048	0
(Gain) loss on sale of non-vehicle capital assets	4	(165)
Change in fair value of Public Warrants	(272)	(110)
Changes in financial instruments	(8)	107
Other	(5)	9
Changes in assets and liabilities:
Non-vehicle receivables	(45)	(383)
Prepaid expenses and other assets	(20)	(95)
Operating lease right-of-use assets	281	253
Non-vehicle accounts payable	(18)	27
Accrued liabilities	310	3
Accrued taxes, net	64	45
Operating lease liabilities	(308)	(275)
Self-insured liabilities	87	0
Net cash provided by (used in) operating activities	1,810	1,910
Cash flows from investing activities:
Revenue earning vehicles expenditures	(7,858)	(8,312)
Proceeds from disposal of revenue earning vehicles	4,656	4,178
Non-vehicle capital asset expenditures	(81)	(151)
Proceeds from disposal of non-vehicle capital assets	19	178
Return of (investment in) equity investments	(3)	(1)
Net cash provided by (used in) investing activities	(3,267)	(4,108)
Cash flows from financing activities:
Payment of financing costs	(55)	(31)
Share repurchases	0	(272)
Other	(4)	(3)
Net cash provided by (used in) financing activities	1,156	1,833
Effect of foreign currency exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents	0	3
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents during the period	(301)	(362)
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	905	1,056
Cash paid during the period for:
Income taxes, net of refunds	47	27
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives	98	199
Sales of revenue earning vehicles included in vehicle receivables	372	250
Purchases of non-vehicle capital assets included in accounts payable	5	20
Revenue earning vehicles and non-vehicle capital assets acquired through finance lease	39	43
Accrual for purchases of treasury shares	0	2
Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	3,259	5,741
Repayments of debt	(3,280)	(3,739)
Cash paid during the period for:
Interest, net of amounts capitalized:	385	341
Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	3,470	1,650
Repayments of debt	(2,234)	(1,513)
Cash paid during the period for:
Interest, net of amounts capitalized:	$ 222	$ 170

THC - CONDENSED CONSOLIDATED _5

THC - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ (2,383)	$ 964
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles, net	3,219	1,490
Depreciation and amortization, non-vehicle	107	100
Amortization of deferred financing costs and debt discount (premium)	54	44
Stock-based compensation charges	48	65
Stock-based compensation forfeitures	(68)	0
Provision for receivables allowance	94	67
Deferred income taxes, net	(379)	(236)
Long-Lived Assets impairment	1,048	0
Other	(5)	9
Changes in assets and liabilities:
Non-vehicle receivables	(45)	(383)
Prepaid expenses and other assets	(20)	(95)
Operating lease right-of-use assets	281	253
Non-vehicle accounts payable	(18)	27
Accrued liabilities	310	3
Accrued taxes, net	64	45
Operating lease liabilities	(308)	(275)
Self-insured liabilities	87	0
Net cash provided by (used in) operating activities	1,810	1,910
Cash flows from investing activities:
Revenue earning vehicles expenditures	(7,858)	(8,312)
Proceeds from disposal of revenue earning vehicles	4,656	4,178
Non-vehicle capital asset expenditures	(81)	(151)
Proceeds from disposal of non-vehicle capital assets	19	178
Return of (investment in) equity investments	(3)	(1)
Net cash provided by (used in) investing activities	(3,267)	(4,108)
Cash flows from financing activities:
Payment of financing costs	(55)	(31)
Net cash provided by (used in) financing activities	1,156	1,833
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents during the period	(301)	(362)
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	905
Cash paid during the period for:
Income taxes, net of refunds	47	27
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives	98	199
Sales of revenue earning vehicles included in vehicle receivables	372	250
Purchases of non-vehicle capital assets included in accounts payable	5	20
Revenue earning vehicles and non-vehicle capital assets acquired through finance lease	39	43
Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	3,259	5,741
Repayments of debt	(3,280)	(3,739)
Cash paid during the period for:
Interest, net of amounts capitalized:	385	341
Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	3,470	1,650
Repayments of debt	(2,234)	(1,513)
Cash paid during the period for:
Interest, net of amounts capitalized:	222	170
The Hertz Corporation
Cash flows from operating activities:
Net income (loss)	(2,655)	853
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles, net	3,219	1,490
Depreciation and amortization, non-vehicle	107	100
Amortization of deferred financing costs and debt discount (premium)	54	44
Stock-based compensation charges	48	65
Stock-based compensation forfeitures	(68)	0
Provision for receivables allowance	94	67
Deferred income taxes, net	(379)	(236)
Long-Lived Assets impairment	1,048	0
(Gain) loss on sale of non-vehicle capital assets	4	(165)
Changes in financial instruments	(8)	107
Other	(5)	10
Changes in assets and liabilities:
Non-vehicle receivables	(45)	(383)
Prepaid expenses and other assets	(20)	(95)
Operating lease right-of-use assets	281	253
Non-vehicle accounts payable	(18)	27
Accrued liabilities	310	3
Accrued taxes, net	67	42
Operating lease liabilities	(308)	(275)
Self-insured liabilities	87	0
Net cash provided by (used in) operating activities	1,813	1,907
Cash flows from investing activities:
Revenue earning vehicles expenditures	(7,858)	(8,312)
Proceeds from disposal of revenue earning vehicles	4,656	4,178
Non-vehicle capital asset expenditures	(81)	(151)
Proceeds from disposal of non-vehicle capital assets	19	178
Return of (investment in) equity investments	(3)	(1)
Net cash provided by (used in) investing activities	(3,267)	(4,108)
Cash flows from financing activities:
Payment of financing costs	(55)	(31)
Dividends paid to Hertz Holdings	(7)	(272)
Net cash provided by (used in) financing activities	1,153	1,836
Effect of foreign currency exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents	0	3
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents during the period	(301)	(362)
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	905	1,056
Cash paid during the period for:
Income taxes, net of refunds	47	27
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives	98	199
Sales of revenue earning vehicles included in vehicle receivables	372	250
Purchases of non-vehicle capital assets included in accounts payable	5	20
Revenue earning vehicles and non-vehicle capital assets acquired through finance lease	39	43
The Hertz Corporation | Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	3,259	5,741
Repayments of debt	(3,280)	(3,739)
Cash paid during the period for:
Interest, net of amounts capitalized:	385	341
The Hertz Corporation | Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	3,470	1,650
Repayments of debt	(2,234)	(1,513)
Cash paid during the period for:
Interest, net of amounts capitalized:	$ 222	$ 170

Background

Background	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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 September 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. 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/or retrospective application are permitted. The Company intends to adopt the guidance when it becomes effective using a retrospective application and will include the required disclosures in its Annual Report on Form 10-K for the year ending December 31, 2025.

Long-Lived Assets Impairment

Long-Lived Assets Impairment	9 Months Ended
	Sep. 30, 2024
Asset Impairment Charges [Abstract]
Long-Lived Assets Impairment	Long-Lived Assets Impairment During the third quarter of 2024, at the conclusion of the Company’s historical peak rental season, there was a reduction in the cash flow projections in the Americas RAC and International RAC segments, indicating that the carrying values of their long-lived assets may not be recoverable. The reduction was largely attributed to the acceleration of the rental fleet rotation in the segments, where shortening the useful life reduced the potential future cash flows expected to be earned from the fleet. Operating cash flow projections also deteriorated from delayed timing of operating cost improvements and longer timeframes associated with revenue maximization initiatives. As a result, the Company tested the recoverability of its long-lived assets, consisting of revenue earning vehicles, right-of-use (“ROU”) assets and property and equipment (collectively, the “Long-Lived Assets”) in its Americas RAC and International RAC segments by comparing the carrying values against undiscounted future cash flow projections and determined that an impairment existed. Effective August 31, 2024, the Long-Lived Assets were written down to their estimated fair values. The fair value for revenue earning vehicles was determined using a market approach utilizing prices for similar assets in active markets. Fair value for ROU assets was determined using a discounted cash flow income approach considering estimated market rent. The fair value for property and equipment was determined using a market approach, where available, and where not available, a cost approach utilizing estimated replacement cost. This resulted in recognizing impairment charges of $923 million and $125 million against the Company's revenue earning vehicles and ROU assets, respectively. No impairment was recognized for property and equipment assets. The total impairment charge of $1.0 billion is recorded in Long-Lived Assets impairment in the accompanying unaudited condensed consolidated statement of operations for the three and nine months ended September 30, 2024, of which $865 million and $183 million related to the Americas RAC and International RAC segments, respectively. As the Long-Lived Assets impairment was recognized as of August 31, 2024, depreciation expense during the third quarter of 2024 included two months of depreciation at pre-impairment rates and one month at post-impairment rates. To the extent there are further changes in market conditions or the performance of the Company's long-lived assets, there is a possibility that the Company could incur additional impairments in the future.

Divestitures

Divestitures	9 Months Ended
	Sep. 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 nine months ended September 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 nine months ended September 30, 2023. The leaseback is classified as an operating lease with a term of 36 months.

Revenue Earning Vehicles

Revenue Earning Vehicles	9 Months Ended
	Sep. 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) September 30, December 31, Revenue earning vehicles $ 13,133 $ 16,164 Less accumulated depreciation (308) (2,155) 12,825 14,009 Revenue earning vehicles held for sale, net (1) 410 642 Revenue earning vehicles, net (2) $ 13,235 $ 14,651 (1) Represents the carrying amount of vehicles classified as held for sale as of the respective balance sheet date, including the EV Disposal Groups, as defined and disclosed below. (2) As of September 30, 2024, includes an impairment charge recognized against the Company's revenue earnings vehicles in the third quarter of 2024. See Note 3, "Long-Lived Assets Impairment," for further details. Depreciation of revenue earning vehicles and lease charges, net includes the following: Three Months Ended Nine Months Ended (In millions) 2024 2023 2024 2023 Depreciation of revenue earning vehicles $ 827 $ 483 $ 2,355 $ 1,337 (Gain) loss on disposal of revenue earning vehicles (1) 97 10 555 (146) Rents paid for vehicles leased 13 8 31 20 Depreciation of revenue earning vehicles and lease charges, net $ 937 $ 501 $ 2,941 $ 1,211 (1) Includes the write-down to fair value for vehicles classified as held for sale, including the EV Disposal Groups as defined and disclosed below, for the nine months ended September 30, 2024. Electric Vehicles Held for Sale In December 2023, the Company identified a group of electric vehicles ("EVs") in the Americas RAC segment (the "First EV Disposal Group") that it desired to sell. In March 2024, the Company identified an incremental group of EVs in the Americas RAC and International RAC segments (together with the First EV Disposal Group, the "EV Disposal Groups") that it also desired to sell. The EV Disposal Groups were 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 EV Disposal Groups were classified as held for sale. As of September 30, 2024, the sale of the EV Disposal Groups was approximately 95% complete. During the nine months ended September 30, 2024, the Company incurred incremental charges, primarily in the first half of 2024, of $176 million for the write-down on the vehicles, of which $165 million and $11 million are associated with the Americas RAC and International RAC segments, respectively, and $47 million for losses incurred on the vehicles sold, primarily in the Americas RAC segment, which amounts are included in depreciation of revenue earning vehicles and lease charges, net in the accompanying unaudited condensed consolidated statement of operations. The remaining, unsold portion of the EV Disposal Groups had an aggregate carrying value of $27 million and is included in revenue earning vehicles, net in the accompanying unaudited consolidated balance sheet as of September 30, 2024, of which $18 million and $9 million were associated with the Americas RAC and International RAC segments, respectively. The aggregate carrying value of the First EV Disposal Group of $542 million is included in revenue earning vehicles, net in the accompanying unaudited condensed consolidated balance sheet as of December 31, 2023. The Company expects to complete the sale of the EV Disposal Groups, primarily through its standard disposition channels, by the end of 2024.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	9 Months Ended
	Sep. 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 September 30, 2024, the Company tested the recoverability of its goodwill and indefinite-lived intangible assets due to the impact related to the reduction in the cash flow projections in the Americas RAC and International RAC segments. 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 20.0% and 12.0%. Based on the quantitative tests, no impairments were recorded in the third 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	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt The Company's debt, including its available credit facilities, consists of the following ($ in millions) as of September 30, 2024 and December 31, 2023: Facility Weighted-Average Interest Rate as of September 30, 2024 Fixed or Maturity September 30, December 31, Non-Vehicle Debt First Lien RCF 8.98% Floating 6/2026 $ 250 $ — Term B Loan 8.85% Floating 6/2028 1,258 1,268 Incremental Term B Loan 8.98% Floating 6/2028 496 500 Term C Loan 8.87% Floating 6/2028 245 245 Facility Weighted-Average Interest Rate as of September 30, 2024 Fixed or Maturity September 30, December 31, 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) 6.75% Fixed Various 2 2 Unamortized Debt Issuance Costs and Net (Discount) Premium (3) (98) (66) Total Non-Vehicle Debt 4,653 3,449 Vehicle Debt HVF III U.S. ABS Program HVF III U.S. Vehicle Variable Funding Notes HVF III Series 2021-A Class A (4) 6.71% Floating 4/2026 1,602 1,492 HVF III Series 2021-A Class B (4) 9.44% Fixed 8/2025 188 188 1,790 1,680 HVF III U.S. Vehicle Medium Term Notes HVF III Series 2021-1 (4) 1.66% Fixed 12/2024 1,000 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 (4) 6.66% Fixed 3/2029 500 500 HVF III Series 2024-1 (4) 5.98% Fixed 1/2028 375 — HVF III Series 2024-2 (4) 6.03% Fixed 1/2030 375 — 8,081 8,523 Vehicle Debt - Other European ABS (4) 5.42% Floating 3/2026 1,446 1,205 Hertz Canadian Securitization (4) 6.24% Floating 4/2026 421 350 Australian Securitization (4) 5.95% Floating 6/2026 219 203 New Zealand RCF 8.22% Floating 8/2026 58 70 U.K. Financing Facility 7.60% Floating 10/2024 - 9/2028 197 173 Other Vehicle Debt (5) 6.78% Floating 10/2024 - 7/2028 149 110 2,490 2,111 Unamortized Debt Issuance Costs and Net (Discount) Premium (58) (72) Total Vehicle Debt 12,303 12,242 Total Debt $ 16,956 $ 15,691 (1) As a result of the bifurcated Exchange Feature, as defined and disclosed below, the Exchangeable Notes had an effective interest rate of approximately 14.4% as of September 30, 2024. (2) Other non-vehicle debt is primarily comprised of $2 million and $1 million in finance lease obligations (3) Includes approximately $9 million of unamortized debt issuance costs associated with the Exchangeable Notes as of September 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 $101 million and $104 million in finance lease obligations as of September 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 ("CK Amarillo"), which is an affiliate of Hertz Holdings, purchased approximately $44 million of the Exchangeable Notes as further disclosed in Note 15, "Related Party Transactions." Upon issuance, the Company bifurcated the Exchange Feature from the Exchangeable Notes for accounting purposes utilizing applicable guidance. As a result, the Company recognized a debt discount of $68 million within non-vehicle debt, representing the initial fair value of the Exchange Feature. As of September 30, 2024, the fair value of the Exchange Feature was $54 million. Refer to Note 13, "Fair Value Measurements," for further details. The net carrying amount of the Exchangeable Notes consists of the following: (In millions) September 30, 2024 Principal $ 250 Unamortized debt discount and debt issuance costs (1) (61) Net carrying amount $ 189 (1) The debt discount is amortized to non-vehicle interest expense over the term of the Exchangeable Notes using the effective interest method. Interest expense recognized for the Exchangeable Notes consists of the following: Three Months Ended Nine Months Ended (In millions) 2024 2023 2024 2023 Contractual interest expense $ 5 $ — $ 5 $ — Amortization of debt discount and debt issuance costs 2 — 2 — (Gain) loss on fair value of Exchange Feature (1) (14) — (14) — Total $ (7) $ — $ (7) $ — (1) Refer also to Note 13, "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. New Zealand RCF In September 2024, Hertz New Zealand Holdings, an indirect wholly owned subsidiary of Hertz, amended the New Zealand RCF to extend the maturity date to August 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 September 30, 2024 and are presented net of any outstanding letters of credit: (In millions) Remaining Availability Under Non-Vehicle Debt First Lien RCF $ 1,147 $ 1,147 Total Non-Vehicle Debt 1,147 1,147 Vehicle Debt HVF III Series 2021-A 2,163 — European ABS 194 — Hertz Canadian Securitization 43 — Australian Securitization 16 — New Zealand RCF 18 — U.K. Financing Facility 58 — Other Vehicle Debt 8 — Total Vehicle Debt 2,500 — Total $ 3,647 $ 1,147 Letters of Credit As of September 30, 2024, there were outstanding standby letters of credit totaling $864 million comprised primarily of $603 million issued under the First Lien RCF and $245 million issued under the Term C Loan. As of September 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 September 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 September 30, 2024 and December 31, 2023, IFF No. 2 had total assets of $2.0 billion and $1.7 billion, respectively, comprised primarily of intercompany receivables, and total liabilities of $2.0 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 September 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 September 30, 2024, the Company was in compliance with all covenants under the terms of the agreements governing the respective Corporate Indebtedness.

Leases

Leases	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Leases	Leases Lessor 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 Nine Months Ended (In millions) 2024 2023 2024 2023 Operating lease income from vehicle rentals $ 2,330 $ 2,476 $ 6,343 $ 6,549 Variable operating lease income 176 155 480 452 Revenue accounted for under Topic 842 2,506 2,631 6,823 7,001 Revenue accounted for under Topic 606 70 72 186 186 Total revenues $ 2,576 $ 2,703 $ 7,009 $ 7,187 Lessee In the third quarter of 2024, the Company recognized an impairment on the Long-Lived Assets, which included ROU assets, in the Americas RAC segment. See Note 3, "Long-Lived Assets Impairment," for further details.
Leases	Leases Lessor 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 Nine Months Ended (In millions) 2024 2023 2024 2023 Operating lease income from vehicle rentals $ 2,330 $ 2,476 $ 6,343 $ 6,549 Variable operating lease income 176 155 480 452 Revenue accounted for under Topic 842 2,506 2,631 6,823 7,001 Revenue accounted for under Topic 606 70 72 186 186 Total revenues $ 2,576 $ 2,703 $ 7,009 $ 7,187 Lessee In the third quarter of 2024, the Company recognized an impairment on the Long-Lived Assets, which included ROU assets, in the Americas RAC segment. See Note 3, "Long-Lived Assets Impairment," for further details.

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit	9 Months Ended
	Sep. 30, 2024
Income Tax Disclosure [Abstract]
Income Tax (Provision) Benefit	Income Tax (Provision) Benefit Hertz Global For the three months ended September 30, 2024, Hertz Global recorded a tax benefit of $288 million, which resulted in an effective tax rate of 18%. For the three months ended September 30, 2023, Hertz Global recorded a tax benefit of $70 million, which resulted in an effective tax rate of (13)%. The change in taxes for the three months ended September 30, 2024 compared to the same period in 2023 was driven primarily by lower pretax income, changes in valuation allowances on deferred tax assets, lower estimated EV credits and the non-taxable change in the fair value of warrants. For the nine months ended September 30, 2024, Hertz Global recorded a tax benefit of $291 million, which resulted in an effective tax rate of 11%. For the nine months ended September 30, 2023, Hertz Global recorded a tax benefit of $185 million, which resulted in an effective tax rate of (24)%. The change in taxes in the nine months ended September 30, 2024 compared to the same period in 2023 was driven primarily by lower pretax income, changes in valuation allowances on deferred tax assets and lower estimated EV credits. 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 September 30, 2024, Hertz recorded a tax benefit of $287 million, which resulted in an effective tax rate of 17%. For the three months ended September 30, 2023, Hertz recorded a tax benefit of $68 million, which resulted in an effective tax rate of (30)%. The change in taxes for the three months ended September 30, 2024 compared to the same period in 2023 was driven primarily by lower pretax income, changes in valuation allowances on deferred tax assets and lower estimated EV credits. For the nine months ended September 30, 2024, Hertz recorded a tax benefit of $291 million, which resulted in an effective tax rate of 10%. For the nine months ended September 30, 2023, the Company recorded a tax benefit of $184 million, which resulted in an effective tax rate of (27)%. The change in taxes in the nine months ended September 30, 2024 compared to the same period in 2023 was driven primarily by lower pretax income, changes in valuation allowances on deferred tax assets and lower estimated EV credits. 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	9 Months Ended
	Sep. 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 In connection with the issuance of the Exchangeable Notes, as disclosed in Note 7, "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. During the three months ended September 30, 2024, 380 Public Warrants were exercised for $13.61 per share. During the nine months ended September 30, 2024, 9,143 Public Warrants were exercised, of which 5,516 were cashless exercises, 380 were exercised for $13.61 per share and 3,247 were exercised for $13.80 per share. As of September 30, 2024, a cumulative 6,344,347 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 September 30, 2024 and December 31, 2023. See Note 13, "Fair Value Measurements." Share Repurchase Programs for Common Stock In June 2022, Hertz Global's independent Audit Committee recommended, and its Board of Directors (the "Board") 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 7, "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 nine months ended September 30, 2024. Common shares repurchased are included in treasury stock in the accompanying Hertz Global unaudited condensed consolidated balance sheet as of September 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 Nine Months Ended (In millions, except per share data) (1) 2024 2023 2024 2023 Numerator: Net income (loss) available to Hertz Global common stockholders, basic $ (1,332) $ 629 $ (2,383) $ 964 Change in fair value of Public Warrants — (328) — (110) Net income (loss) available to Hertz Global common stockholders, diluted $ (1,332) $ 300 $ (2,383) $ 853 Denominator: Basic weighted-average common shares outstanding 307 311 306 315 Dilutive effect of stock options, RSUs and PSUs — 2 — 1 Dilutive effect of Public Warrants — 14 — 15 Diluted weighted-average shares outstanding 307 327 306 332 Antidilutive Public Warrants 240 — 146 — Antidilutive stock options, RSUs and PSUs 15 5 13 6 Antidilutive shares related to Exchangeable Notes 38 — 13 — Total antidilutive 293 5 172 6 Earnings (loss) per common share: Basic $ (4.34) $ 2.02 $ (7.79) $ 3.06 Diluted $ (4.34) $ 0.92 $ (7.79) $ 2.57 (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	9 Months Ended
	Sep. 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, the Board approved the Hertz Global Holdings, Inc. 2021 Omnibus Incentive Plan (the "2021 Omnibus Plan"). As of September 30, 2024, 47,576,994 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 Nine Months Ended (In millions) 2024 2023 2024 2023 Employee compensation expense (1) $ 15 $ 21 $ (21) $ 64 Income tax benefit (2) 1 (7) (7) Employee compensation expense, net $ 13 $ 22 $ (28) $ 57 (1) For the nine months ended September 30, 2024, includes $68 million of former CEO awards forfeited in March 2024. As of September 30, 2024, there was $112 million of total unrecognized employee compensation expense expected to be recognized over the remaining 1.7 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 nine months ended September 30, 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 (630,308) 26.17 — — Outstanding as of September 30, 2024 1,801,195 26.17 6.7 — Exercisable as of September 30, 2024 (1,233,481) 26.17 6.5 — Non-vested as of September 30, 2024 567,714 Performance Stock Awards ("PSAs"), Performance Stock Units ("PSUs") and Performance Units ("PUs") A summary of the PSU activity for the nine months ended September 30, 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) 5,432,847 4.55 — Vested — — — Forfeited or Expired (2) (9,334,202) 17.12 — Outstanding as of September 30, 2024 5,201,383 4.69 17 (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 July 2024 Expected volatility 60 % 65 % 70 % Expected dividend yield — % — % — % Expected term (years) 5 5 5 Risk-free interest rate 4.34 % 4.30 % 4.17 % Weighted-average grant date fair value $ 5.92 $ 1.71 $ 2.51 As of September 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 nine months ended September 30, 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 17,773,434 5.44 — Vested (1,930,472) 13.22 — Forfeited or Expired (1) (4,051,231) 12.10 — Outstanding as of September 30, 2024 18,106,295 6.70 60 (1) Includes former CEO awards forfeited in March 2024. Additional information pertaining to RSU activity is as follows: Nine Months Ended September 30, 2024 2023 Total fair value of awards that vested (in millions) $ 26 $ 9 Weighted-average grant-date fair value of awards granted $ 5.44 $ 17.57 RSU grants issued in 2024 vest ratably over a period of primarily three years. Deferred Stock Units As of September 30, 2024, there were approximately 191,000 outstanding shares of deferred stock units under the 2021 Omnibus Plan.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 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 September 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) September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 Interest rate instruments (1) $ 1 $ 10 $ — $ — Foreign currency forward contracts (1) 6 5 2 2 Exchange Feature related to Exchangeable Notes (2) — — 54 — Total $ 7 $ 15 $ 56 $ 2 (1) Asset derivatives are recorded in prepaid expenses and other assets and liability derivatives are recorded in accrued liabilities in the accompanying unaudited condensed consolidated balance sheets. (2) The Exchange Feature was bifurcated as a derivative upon issuance of the Exchangeable Notes in June 2024, as disclosed in Note 7, "Debt," and is recorded in non-vehicle debt in the accompanying unaudited condensed consolidated balance sheet as of September 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 Nine Months Ended (In millions) 2024 2023 2024 2023 Interest rate instruments Vehicle interest expense, net $ (3) $ (7) $ (5) $ 4 Foreign currency forward contracts Selling, general and administrative expense 4 8 (5) (2) Exchange Feature related to Exchangeable Notes (1) Non-vehicle interest expense, net 14 — 14 — Total $ 15 $ 1 $ 4 $ 2 (1) The Exchange Feature was bifurcated as a derivative upon issuance of the Exchangeable Notes in June 2024, as further disclosed in Note 7, "Debt." 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	9 Months Ended
	Sep. 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). September 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 $ 4,501 $ 3,910 $ 3,515 $ 3,285 Exchangeable Notes (1) 250 250 — — Total Non-Vehicle Debt 4,751 4,160 3,515 3,285 Vehicle Debt 12,361 12,136 12,314 11,878 Total $ 17,112 $ 16,296 $ 15,829 $ 15,163 (1) As of September 30, 2024, the nominal unpaid principal balance and aggregate fair value of the Exchangeable Notes include $54 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: September 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 $ 145 $ — $ — $ 145 $ 362 $ — $ — $ 362 Liabilities: Public Warrants $ 181 $ — $ — $ 181 $ 453 $ — $ — $ 453 Exchange Feature $ — $ — $ 54 $ 54 $ — $ — $ — $ — 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 September 30, 2024 and December 31, 2023 in accordance with the provisions of ASC 480, Distinguishing Liabilities from Equity . See Note 10, "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 nine months ended September 30, 2024, the fair value adjustments were gains of $21 million and $272 million, respectively. For the three and nine months ended September 30, 2023, the fair value adjustments were gains of $328 million and $110 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 nine months ended September 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 7, "Debt," and Note 12, "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 as of September 30, 2024: September 30, 2024 Hertz Global common share price $ 3.30 Expected term (years) 4.79 Risk-free interest rate 3.58 % Credit spread 9.63 % Expected volatility 48.75 % The significant unobservable input used in the fair value measurement of the Exchange Feature is expected volatility. Holding other inputs constant, an increase (decrease) in expected volatility would have resulted in a higher (lower) fair value measurement, respectively. The following table summarizes the activity related to the Exchange Feature measured at fair value utilizing significant unobservable inputs (Level 3) as of September 30, 2024: (In millions) Balance as of December 31, 2023 $ — Initial recognition of derivative liability 68 (Gain) loss in fair value recognized in earnings (1) (14) Balance as of September 30, 2024 $ 54 (1) Included in non-vehicle interest expense, net in the accompanying unaudited condensed consolidated statement of operations for the three and nine months ended September 30, 2024 . Financial Instruments The fair value of the Company's financial instruments as of September 30, 2024 and December 31, 2023 are disclosed in Note 12, "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 and March 2024, the Company identified the EV Disposal Groups which were 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 EV Disposal Groups were classified as held for sale. As of September 30, 2024, the remaining, unsold portion of the EV Disposal Groups continued to be classified as held for sale and was recorded at the lower of carrying value or fair value (as determined using Level 2 inputs) less costs to sell. Refer to Note 5, "Revenue Earning Vehicles," for additional information.

Contingencies and Off-Balance S

Contingencies and Off-Balance Sheet Commitments	9 Months Ended
	Sep. 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 September 30, 2024 and December 31, 2023, the Company's liability recorded for self-insured liabilities was $559 million and $471 million, of which $422 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 September 30, 2024 or the period after September 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 (the "2026 Notes") and (4) 6.000% Unsecured Notes due 2028 (the "2028 Notes") 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, N.A. v. The Hertz Corp., 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. See Wells Fargo Bank, N.A. v. The Hertz Corp., et al. , 637 B.R. 781 (Bankr. D. Del. Dec. 22, 2021). 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 on September 10, 2024, the Third Circuit issued its opinion in Wells Fargo Bank, N.A. v. The Hertz Corp., et al. , 117 F.4th 109 (3d Cir. 2024). In a 2-1 decision, a panel of the Third Circuit held that the "absolute priority rule" required Hertz to pay the make-whole premium on the 2026 Notes and on the 2028 Notes, and post-petition interest at the contract rate rather than the federal judgment rate on all Unsecured Notes, even though those amounts were disallowed under the Bankruptcy Code. As a result, the Company has accrued approximately $320 million for this litigation as of September 30, 2024, made up of approximately $260 million on the underlying claims and approximately $60 million in pre-judgment interest, which interest will continue to accrue until the date of any judgment that may be entered by the Delaware Bankruptcy Court. On October 15, 2024, the Company filed a petition with the Third Circuit for a rehearing en banc, which the Third Circuit denied on November 6, 2024. The Company cannot predict the ultimate outcome or timing of this litigation; if, however, the Delaware Bankruptcy Court were to enter judgment against Hertz, payment of such judgment 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 agreement with ACE American Insurance Company. On July 10, 2024, the Delaware Superior Court held a hearing on cross-motions for partial summary judgment and summary judgment. The Company entered into confidential settlement agreements with some of the remaining insurers before and after the hearing. On October 8, 2024, the Delaware Superior Court denied the Company's motion for partial summary judgment and granted the cross-motions for summary judgment and partial summary judgment in favor of the remaining general liability insurers. The case remains pending against some of the remaining directors' and officers' liability 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 ("Knighthead"), Certares Opportunities LLC ("Certares") and CK Amarillo. 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 Feikin, Fields, Intrieri and Vougessis with prejudice, dismissed the claims related to the 2021 buyback without prejudice and allowed the remaining claims to proceed. On August 26, 2024, the Board formed a Special Litigation Committee (the "SLC"), made up of two independent directors, to evaluate and take any necessary actions related to the remaining claims. On October 21, 2024, the Delaware Chancery Court granted a motion to stay the litigation, including all discovery, until March 21, 2025. Securities Class Action Complaint – On May 31, 2024, a complaint was filed in the United States District Court for the Middle District of Florida (the "Florida Middle District Court"), captioned Edward M. Doller v. Hertz Global Holdings, Inc. et al . (No. 2:24-CV-00513). On September 30, 2024, an amended complaint was filed, following the Florida Middle District Court's appointment of a lead plaintiff and a lead counsel. The amended complaint asserts claims against Hertz Global, 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, including concerning statements regarding demand for EVs. Plaintiffs assert claims on behalf of a putative class, consisting of all persons and entities that purchased or otherwise acquired Hertz Global's securities between January 6, 2023 and April 24, 2024. The amended complaint seeks unspecified damages, together with interest, attorneys’ fees and other costs. Hertz Global filed a motion to dismiss the complaint on October 30, 2024. Warrant Holder Litigation – The holders of approximately 11% of the outstanding Public Warrants issued by Hertz Global 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 Global's repurchase of shares between November 2021 and December 31, 2023 and Hertz Global's 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 Global 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 Global to comply with its contractual obligations under the Warrant Agreement. On June 17, 2024, Hertz Global filed a motion to dismiss the complaint, which is now fully briefed. A hearing on the motion to dismiss is scheduled for November 12, 2024. 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 and the bankruptcy-related litigation, 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	9 Months Ended
	Sep. 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, an affiliate of Hertz Holdings, in connection with a backstop for Hertz's Exchangeable Notes offering, as disclosed in Note 7, "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	9 Months Ended
	Sep. 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 September 30, Nine Months Ended (In millions) 2024 2023 2024 2023 Revenues Americas RAC $ 2,062 $ 2,172 $ 5,729 $ 5,917 International RAC 514 531 1,280 1,270 Total Hertz Global and Hertz $ 2,576 $ 2,703 $ 7,009 $ 7,187 Depreciation of revenue earning vehicles and lease charges, net Americas RAC (1) $ 822 $ 414 $ 2,603 $ 1,035 International RAC (1) 115 87 338 176 Total Hertz Global and Hertz $ 937 $ 501 $ 2,941 $ 1,211 Adjusted EBITDA Americas RAC $ (169) $ 302 $ (1,060) $ 894 International RAC 63 109 30 258 Total reportable segments (106) 411 (1,030) 1,152 Corporate (51) (52) (154) (209) Total Hertz Global and Hertz $ (157) $ 359 $ (1,184) $ 943 As of (In millions) September 30, 2024 December 31, 2023 Revenue earning vehicles, net Americas RAC (2)(3) $ 10,988 $ 12,450 International RAC (2)(3) 2,247 2,201 Total Hertz Global and Hertz $ 13,235 $ 14,651 Total assets Americas RAC (3) $ 18,062 $ 19,252 International RAC (3) 4,008 4,245 Total reportable segments 22,070 23,497 Corporate 909 1,108 Total Hertz Global (4) 22,979 24,605 Corporate - Hertz (1) (1) Total Hertz (4) $ 22,978 $ 24,604 (1) For the nine months ended September 30, 2024, includes the write-down to carrying value of vehicles classified as held for sale, including the EV Disposal Groups. See Note 5, "Revenue Earning Vehicles," for further information. (2) Includes the carrying amount of vehicles classified as held for sale as of the respective balance sheet date, including the EV Disposal Groups. See Note 5, "Revenue Earning Vehicles," for further information. (3) Includes Long-Lived Assets impairment charges recognized in the third quarter of 2024. See Note 3, "Long-Lived Assets Impairment," for further information. (4) The consolidated total assets of Hertz Global and Hertz as of September 30, 2024 and December 31, 2023 include total assets of VIEs of $2.0 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 7, "Debt," for further information. Reconciliations of Adjusted EBITDA by reportable segment to consolidated amounts are summarized below: Hertz Global Three Months Ended Nine Months Ended (In millions) 2024 2023 2024 2023 Adjusted EBITDA: Americas RAC $ (169) $ 302 $ (1,060) $ 894 International RAC 63 109 30 258 Total reportable segments (106) 411 (1,030) 1,152 Corporate (1) (51) (52) (154) (209) Total Hertz Global (157) 359 (1,184) 943 Adjustments: Non-vehicle depreciation and amortization (34) (33) (107) (100) Non-vehicle debt interest, net (103) (63) (266) (170) Vehicle debt-related charges (2) (11) (11) (33) (31) Restructuring and restructuring related charges (3) (1) (2) (45) (10) Change in fair value of Public Warrants (4) 21 328 272 110 Unrealized gains (losses) on financial instruments (5) 16 (1) 8 (107) Gain on sale of non-vehicle capital assets (6) — — — 162 Non-cash stock-based compensation forfeitures (7) — — 64 — Bankruptcy-related litigation reserve (8) (288) — (288) — Long-Lived Assets impairment (9) (1,048) — (1,048) — Other items (10) (15) (18) (47) (18) Income (loss) before income taxes $ (1,620) $ 559 $ (2,674) $ 779 Hertz Three Months Ended Nine Months Ended (In millions) 2024 2023 2024 2023 Adjusted EBITDA: Americas RAC $ (169) $ 302 $ (1,060) $ 894 International RAC 63 109 30 258 Total reportable segments (106) 411 (1,030) 1,152 Corporate (1) (51) (52) (154) (209) Total Hertz (157) 359 (1,184) 943 Adjustments: Non-vehicle depreciation and amortization (34) (33) (107) (100) Non-vehicle debt interest, net (103) (63) (266) (170) Vehicle debt-related charges (2) (11) (11) (33) (31) Restructuring and restructuring related charges (3) (1) (2) (45) (10) Unrealized gains (losses) on financial instruments (5) 16 (1) 8 (107) Gain on sale of non-vehicle capital assets (6) — — — 162 Non-cash stock-based compensation forfeitures (7) — — 64 — Bankruptcy-related litigation reserve (8) (288) — (288) — Long-Lived Assets impairment (9) (1,048) — (1,048) — Other items (10) (15) (18) (47) (18) Income (loss) before income taxes $ (1,641) $ 231 $ (2,946) $ 669 (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 12, "Financial Instruments." (6) Represents gain on sale of certain non-vehicle capital assets sold in March 2023. See Note 4, "Divestitures." (7) Represents former CEO awards forfeited in March 2024. See Note 11, "Stock-Based Compensation." (8) Represents an increase to an existing bankruptcy-related litigation reserve recorded in September 2024. See Note 14, "Contingencies and Off-Balance Sheet Commitments." (9) Represents Long-Lived Assets impairment charges recognized in the third quarter of 2024. See Note 3, "Long-Lived Assets Impairment." (10) Represents miscellaneous items. For the three and nine months ended September 30, 2024, primarily includes certain IT-related charges, cloud computing costs and certain storm-related vehicle damages, partially offset by certain litigation settlements and a loss recovery settlement. For the three and nine months ended September 30, 2023, primarily includes certain IT-related charges, certain storm-related vehicle damages and certain professional fees and charges related to the settlement of bankruptcy claims, partially offset by a loss recovery settlement.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ (1,332)	$ (865)	$ (186)	$ 629	$ 139	$ 196	$ (2,383)	$ 964

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 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)	9 Months Ended
	Sep. 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 September 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. 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/or retrospective application are permitted. The Company intends to adopt the guidance when it becomes effective using a retrospective application and will include the required disclosures in its Annual Report on Form 10-K for the year ending December 31, 2025.

Revenue Earning Vehicles (Table

Revenue Earning Vehicles (Tables)	9 Months Ended
	Sep. 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) September 30, December 31, Revenue earning vehicles $ 13,133 $ 16,164 Less accumulated depreciation (308) (2,155) 12,825 14,009 Revenue earning vehicles held for sale, net (1) 410 642 Revenue earning vehicles, net (2) $ 13,235 $ 14,651 (1) Represents the carrying amount of vehicles classified as held for sale as of the respective balance sheet date, including the EV Disposal Groups, as defined and disclosed below. (2) As of September 30, 2024, includes an impairment charge recognized against the Company's revenue earnings vehicles in the third quarter of 2024. See Note 3, "Long-Lived Assets Impairment," for further details.
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 Nine Months Ended (In millions) 2024 2023 2024 2023 Depreciation of revenue earning vehicles $ 827 $ 483 $ 2,355 $ 1,337 (Gain) loss on disposal of revenue earning vehicles (1) 97 10 555 (146) Rents paid for vehicles leased 13 8 31 20 Depreciation of revenue earning vehicles and lease charges, net $ 937 $ 501 $ 2,941 $ 1,211 (1) Includes the write-down to fair value for vehicles classified as held for sale, including the EV Disposal Groups as defined and disclosed below, for the nine months ended September 30, 2024.

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	The Company's debt, including its available credit facilities, consists of the following ($ in millions) as of September 30, 2024 and December 31, 2023: Facility Weighted-Average Interest Rate as of September 30, 2024 Fixed or Maturity September 30, December 31, Non-Vehicle Debt First Lien RCF 8.98% Floating 6/2026 $ 250 $ — Term B Loan 8.85% Floating 6/2028 1,258 1,268 Incremental Term B Loan 8.98% Floating 6/2028 496 500 Term C Loan 8.87% Floating 6/2028 245 245 Facility Weighted-Average Interest Rate as of September 30, 2024 Fixed or Maturity September 30, December 31, 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) 6.75% Fixed Various 2 2 Unamortized Debt Issuance Costs and Net (Discount) Premium (3) (98) (66) Total Non-Vehicle Debt 4,653 3,449 Vehicle Debt HVF III U.S. ABS Program HVF III U.S. Vehicle Variable Funding Notes HVF III Series 2021-A Class A (4) 6.71% Floating 4/2026 1,602 1,492 HVF III Series 2021-A Class B (4) 9.44% Fixed 8/2025 188 188 1,790 1,680 HVF III U.S. Vehicle Medium Term Notes HVF III Series 2021-1 (4) 1.66% Fixed 12/2024 1,000 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 (4) 6.66% Fixed 3/2029 500 500 HVF III Series 2024-1 (4) 5.98% Fixed 1/2028 375 — HVF III Series 2024-2 (4) 6.03% Fixed 1/2030 375 — 8,081 8,523 Vehicle Debt - Other European ABS (4) 5.42% Floating 3/2026 1,446 1,205 Hertz Canadian Securitization (4) 6.24% Floating 4/2026 421 350 Australian Securitization (4) 5.95% Floating 6/2026 219 203 New Zealand RCF 8.22% Floating 8/2026 58 70 U.K. Financing Facility 7.60% Floating 10/2024 - 9/2028 197 173 Other Vehicle Debt (5) 6.78% Floating 10/2024 - 7/2028 149 110 2,490 2,111 Unamortized Debt Issuance Costs and Net (Discount) Premium (58) (72) Total Vehicle Debt 12,303 12,242 Total Debt $ 16,956 $ 15,691 (1) As a result of the bifurcated Exchange Feature, as defined and disclosed below, the Exchangeable Notes had an effective interest rate of approximately 14.4% as of September 30, 2024. (2) Other non-vehicle debt is primarily comprised of $2 million and $1 million in finance lease obligations (3) Includes approximately $9 million of unamortized debt issuance costs associated with the Exchangeable Notes as of September 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 $101 million and $104 million in finance lease obligations as of September 30, 2024 and December 31, 2023, respectively.
Schedule of Net Carrying Amount	The net carrying amount of the Exchangeable Notes consists of the following: (In millions) September 30, 2024 Principal $ 250 Unamortized debt discount and debt issuance costs (1) (61) Net carrying amount $ 189 (1) The debt discount is amortized to non-vehicle interest expense over the term of the Exchangeable Notes using the effective interest method.
Schedule of Interest Expense Associated with Exchangeable Notes	Interest expense recognized for the Exchangeable Notes consists of the following: Three Months Ended Nine Months Ended (In millions) 2024 2023 2024 2023 Contractual interest expense $ 5 $ — $ 5 $ — Amortization of debt discount and debt issuance costs 2 — 2 — (Gain) loss on fair value of Exchange Feature (1) (14) — (14) — Total $ (7) $ — $ (7) $ — (1) Refer also to Note 13, "Fair Value Measurements."
Schedule of Facilities Available Net of Outstanding Letters of Credit	The following facilities were available to the Company as of September 30, 2024 and are presented net of any outstanding letters of credit: (In millions) Remaining Availability Under Non-Vehicle Debt First Lien RCF $ 1,147 $ 1,147 Total Non-Vehicle Debt 1,147 1,147 Vehicle Debt HVF III Series 2021-A 2,163 — European ABS 194 — Hertz Canadian Securitization 43 — Australian Securitization 16 — New Zealand RCF 18 — U.K. Financing Facility 58 — Other Vehicle Debt 8 — Total Vehicle Debt 2,500 — Total $ 3,647 $ 1,147

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended (In millions) 2024 2023 2024 2023 Operating lease income from vehicle rentals $ 2,330 $ 2,476 $ 6,343 $ 6,549 Variable operating lease income 176 155 480 452 Revenue accounted for under Topic 842 2,506 2,631 6,823 7,001 Revenue accounted for under Topic 606 70 72 186 186 Total revenues $ 2,576 $ 2,703 $ 7,009 $ 7,187

Public Warrants, Equity and E_2

Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global (Tables)	9 Months Ended
	Sep. 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 Nine Months Ended (In millions, except per share data) (1) 2024 2023 2024 2023 Numerator: Net income (loss) available to Hertz Global common stockholders, basic $ (1,332) $ 629 $ (2,383) $ 964 Change in fair value of Public Warrants — (328) — (110) Net income (loss) available to Hertz Global common stockholders, diluted $ (1,332) $ 300 $ (2,383) $ 853 Denominator: Basic weighted-average common shares outstanding 307 311 306 315 Dilutive effect of stock options, RSUs and PSUs — 2 — 1 Dilutive effect of Public Warrants — 14 — 15 Diluted weighted-average shares outstanding 307 327 306 332 Antidilutive Public Warrants 240 — 146 — Antidilutive stock options, RSUs and PSUs 15 5 13 6 Antidilutive shares related to Exchangeable Notes 38 — 13 — Total antidilutive 293 5 172 6 Earnings (loss) per common share: Basic $ (4.34) $ 2.02 $ (7.79) $ 3.06 Diluted $ (4.34) $ 0.92 $ (7.79) $ 2.57 (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)	9 Months Ended
	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of 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 Nine Months Ended (In millions) 2024 2023 2024 2023 Employee compensation expense (1) $ 15 $ 21 $ (21) $ 64 Income tax benefit (2) 1 (7) (7) Employee compensation expense, net $ 13 $ 22 $ (28) $ 57 (1) For the nine months ended September 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 nine months ended September 30, 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 (630,308) 26.17 — — Outstanding as of September 30, 2024 1,801,195 26.17 6.7 — Exercisable as of September 30, 2024 (1,233,481) 26.17 6.5 — Non-vested as of September 30, 2024 567,714
Summary of PSU Activity	A summary of the PSU activity for the nine months ended September 30, 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) 5,432,847 4.55 — Vested — — — Forfeited or Expired (2) (9,334,202) 17.12 — Outstanding as of September 30, 2024 5,201,383 4.69 17 (1) Presented assuming the issuance at the original target award amount (100%). (2) Includes former CEO awards forfeited in March 2024.
Schedule of Valuation Assumptions	Certain of these PSUs, which were granted during the months of April and June in the second quarter of 2024 and during the month of July in the third 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 July 2024 Expected volatility 60 % 65 % 70 % Expected dividend yield — % — % — % Expected term (years) 5 5 5 Risk-free interest rate 4.34 % 4.30 % 4.17 % Weighted-average grant date fair value $ 5.92 $ 1.71 $ 2.51
Summary of RSU Activity	A summary of RSU activity for the nine months ended September 30, 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 17,773,434 5.44 — Vested (1,930,472) 13.22 — Forfeited or Expired (1) (4,051,231) 12.10 — Outstanding as of September 30, 2024 18,106,295 6.70 60 (1) Includes former CEO awards forfeited in March 2024. Additional information pertaining to RSU activity is as follows: Nine Months Ended September 30, 2024 2023 Total fair value of awards that vested (in millions) $ 26 $ 9 Weighted-average grant-date fair value of awards granted $ 5.44 $ 17.57

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 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) September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 Interest rate instruments (1) $ 1 $ 10 $ — $ — Foreign currency forward contracts (1) 6 5 2 2 Exchange Feature related to Exchangeable Notes (2) — — 54 — Total $ 7 $ 15 $ 56 $ 2 (1) Asset derivatives are recorded in prepaid expenses and other assets and liability derivatives are recorded in accrued liabilities in the accompanying unaudited condensed consolidated balance sheets. (2) The Exchange Feature was bifurcated as a derivative upon issuance of the Exchangeable Notes in June 2024, as disclosed in Note 7, "Debt," and is recorded in non-vehicle debt in the accompanying unaudited condensed consolidated balance sheet as of September 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 Nine Months Ended (In millions) 2024 2023 2024 2023 Interest rate instruments Vehicle interest expense, net $ (3) $ (7) $ (5) $ 4 Foreign currency forward contracts Selling, general and administrative expense 4 8 (5) (2) Exchange Feature related to Exchangeable Notes (1) Non-vehicle interest expense, net 14 — 14 — Total $ 15 $ 1 $ 4 $ 2 (1) The Exchange Feature was bifurcated as a derivative upon issuance of the Exchangeable Notes in June 2024, as further disclosed in Note 7, "Debt."

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of 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). September 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 $ 4,501 $ 3,910 $ 3,515 $ 3,285 Exchangeable Notes (1) 250 250 — — Total Non-Vehicle Debt 4,751 4,160 3,515 3,285 Vehicle Debt 12,361 12,136 12,314 11,878 Total $ 17,112 $ 16,296 $ 15,829 $ 15,163 (1) As of September 30, 2024, the nominal unpaid principal balance and aggregate fair value of the Exchangeable Notes include $54 million related to the Exchange Feature, which is measured based on Level 3 inputs as disclosed below.
Schedule of 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: September 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 $ 145 $ — $ — $ 145 $ 362 $ — $ — $ 362 Liabilities: Public Warrants $ 181 $ — $ — $ 181 $ 453 $ — $ — $ 453 Exchange Feature $ — $ — $ 54 $ 54 $ — $ — $ — $ —
Schedule of Key Inputs Used in Fair Value Computation	The estimated fair value of the Exchange Feature was computed using the following key inputs as of September 30, 2024: September 30, 2024 Hertz Global common share price $ 3.30 Expected term (years) 4.79 Risk-free interest rate 3.58 % Credit spread 9.63 % Expected volatility 48.75 %
Summary of Activity Related to Fair Value of Exchange Feature	The following table summarizes the activity related to the Exchange Feature measured at fair value utilizing significant unobservable inputs (Level 3) as of September 30, 2024: (In millions) Balance as of December 31, 2023 $ — Initial recognition of derivative liability 68 (Gain) loss in fair value recognized in earnings (1) (14) Balance as of September 30, 2024 $ 54 (1) Included in non-vehicle interest expense, net in the accompanying unaudited condensed consolidated statement of operations for the three and nine months ended September 30, 2024 .

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended (In millions) 2024 2023 2024 2023 Revenues Americas RAC $ 2,062 $ 2,172 $ 5,729 $ 5,917 International RAC 514 531 1,280 1,270 Total Hertz Global and Hertz $ 2,576 $ 2,703 $ 7,009 $ 7,187 Depreciation of revenue earning vehicles and lease charges, net Americas RAC (1) $ 822 $ 414 $ 2,603 $ 1,035 International RAC (1) 115 87 338 176 Total Hertz Global and Hertz $ 937 $ 501 $ 2,941 $ 1,211 Adjusted EBITDA Americas RAC $ (169) $ 302 $ (1,060) $ 894 International RAC 63 109 30 258 Total reportable segments (106) 411 (1,030) 1,152 Corporate (51) (52) (154) (209) Total Hertz Global and Hertz $ (157) $ 359 $ (1,184) $ 943 As of (In millions) September 30, 2024 December 31, 2023 Revenue earning vehicles, net Americas RAC (2)(3) $ 10,988 $ 12,450 International RAC (2)(3) 2,247 2,201 Total Hertz Global and Hertz $ 13,235 $ 14,651 Total assets Americas RAC (3) $ 18,062 $ 19,252 International RAC (3) 4,008 4,245 Total reportable segments 22,070 23,497 Corporate 909 1,108 Total Hertz Global (4) 22,979 24,605 Corporate - Hertz (1) (1) Total Hertz (4) $ 22,978 $ 24,604 (1) For the nine months ended September 30, 2024, includes the write-down to carrying value of vehicles classified as held for sale, including the EV Disposal Groups. See Note 5, "Revenue Earning Vehicles," for further information. (2) Includes the carrying amount of vehicles classified as held for sale as of the respective balance sheet date, including the EV Disposal Groups. See Note 5, "Revenue Earning Vehicles," for further information. (3) Includes Long-Lived Assets impairment charges recognized in the third quarter of 2024. See Note 3, "Long-Lived Assets Impairment," for further information. (4) The consolidated total assets of Hertz Global and Hertz as of September 30, 2024 and December 31, 2023 include total assets of VIEs of $2.0 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 7, "Debt," for further information. Reconciliations of Adjusted EBITDA by reportable segment to consolidated amounts are summarized below: Hertz Global Three Months Ended Nine Months Ended (In millions) 2024 2023 2024 2023 Adjusted EBITDA: Americas RAC $ (169) $ 302 $ (1,060) $ 894 International RAC 63 109 30 258 Total reportable segments (106) 411 (1,030) 1,152 Corporate (1) (51) (52) (154) (209) Total Hertz Global (157) 359 (1,184) 943 Adjustments: Non-vehicle depreciation and amortization (34) (33) (107) (100) Non-vehicle debt interest, net (103) (63) (266) (170) Vehicle debt-related charges (2) (11) (11) (33) (31) Restructuring and restructuring related charges (3) (1) (2) (45) (10) Change in fair value of Public Warrants (4) 21 328 272 110 Unrealized gains (losses) on financial instruments (5) 16 (1) 8 (107) Gain on sale of non-vehicle capital assets (6) — — — 162 Non-cash stock-based compensation forfeitures (7) — — 64 — Bankruptcy-related litigation reserve (8) (288) — (288) — Long-Lived Assets impairment (9) (1,048) — (1,048) — Other items (10) (15) (18) (47) (18) Income (loss) before income taxes $ (1,620) $ 559 $ (2,674) $ 779 Hertz Three Months Ended Nine Months Ended (In millions) 2024 2023 2024 2023 Adjusted EBITDA: Americas RAC $ (169) $ 302 $ (1,060) $ 894 International RAC 63 109 30 258 Total reportable segments (106) 411 (1,030) 1,152 Corporate (1) (51) (52) (154) (209) Total Hertz (157) 359 (1,184) 943 Adjustments: Non-vehicle depreciation and amortization (34) (33) (107) (100) Non-vehicle debt interest, net (103) (63) (266) (170) Vehicle debt-related charges (2) (11) (11) (33) (31) Restructuring and restructuring related charges (3) (1) (2) (45) (10) Unrealized gains (losses) on financial instruments (5) 16 (1) 8 (107) Gain on sale of non-vehicle capital assets (6) — — — 162 Non-cash stock-based compensation forfeitures (7) — — 64 — Bankruptcy-related litigation reserve (8) (288) — (288) — Long-Lived Assets impairment (9) (1,048) — (1,048) — Other items (10) (15) (18) (47) (18) Income (loss) before income taxes $ (1,641) $ 231 $ (2,946) $ 669 (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 12, "Financial Instruments." (6) Represents gain on sale of certain non-vehicle capital assets sold in March 2023. See Note 4, "Divestitures." (7) Represents former CEO awards forfeited in March 2024. See Note 11, "Stock-Based Compensation." (8) Represents an increase to an existing bankruptcy-related litigation reserve recorded in September 2024. See Note 14, "Contingencies and Off-Balance Sheet Commitments." (9) Represents Long-Lived Assets impairment charges recognized in the third quarter of 2024. See Note 3, "Long-Lived Assets Impairment." (10) Represents miscellaneous items. For the three and nine months ended September 30, 2024, primarily includes certain IT-related charges, cloud computing costs and certain storm-related vehicle damages, partially offset by certain litigation settlements and a loss recovery settlement. For the three and nine months ended September 30, 2023, primarily includes certain IT-related charges, certain storm-related vehicle damages and certain professional fees and charges related to the settlement of bankruptcy claims, partially offset by a loss recovery settlement.

Long-Lived Assets Impairment (D

Long-Lived Assets Impairment (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
	Aug. 31, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Asset Impairment Charges [Line Items]
Revenue earning vehicles impairment	$ 923
ROU assets impairment	125
Long-Lived Assets impairment		$ 1,048	$ 0	$ 1,048	$ 0
Pre-impairment period (in months)		2 months
Post-impairment period (in months)		1 month
Americas Rental Car segment
Asset Impairment Charges [Line Items]
Long-Lived Assets impairment		$ 865		865
International RAC
Asset Impairment Charges [Line Items]
Long-Lived Assets impairment		$ 183		$ 183
Property, Plant and Equipment
Asset Impairment Charges [Line Items]
Long-Lived Assets impairment	$ 0

Divestitures (Details)

Divestitures (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Discontinued Operations and Disposal Groups [Line Items]
(Gain) loss on sale of non-vehicle capital assets	$ (4)	$ 165
Non-vehicle Capital Assets | Americas RAC
Discontinued Operations and Disposal Groups [Line Items]
(Gain) loss on sale of non-vehicle capital assets		29
Los Angeles, California Airport Location
Discontinued Operations and Disposal Groups [Line Items]
Sale and leaseback transaction, gain (loss), net		133
Sale leaseback transaction, gross amount		143
Sale leaseback transaction, net book value		9
Sale and leaseback transaction, selling costs		$ 1
Term of lease contract		36 months

Revenue Earning Vehicles - Comp

Revenue Earning Vehicles - Components of Revenue Earning Vehicles (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Long-Lived Assets Held-for-sale [Line Items]
Revenue earning vehicles, net	$ 13,235	$ 14,651
Vehicles Held For Sale
Long-Lived Assets Held-for-sale [Line Items]
Revenue earning vehicles held for sale, net	410	642
Vehicles, Including Held-For-Sale
Long-Lived Assets Held-for-sale [Line Items]
Revenue earning vehicles	13,133	16,164
Less accumulated depreciation	(308)	(2,155)
Revenue earning vehicles less accumulated depreciation	$ 12,825	$ 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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Depreciation of revenue earning vehicles	$ 827	$ 483	$ 2,355	$ 1,337
(Gain) loss on disposal of revenue earning vehicles	97	10	555	(146)
Rents paid for vehicles leased	13	8	31	20
Depreciation of revenue earning vehicles and lease charges, net	$ 937	$ 501	$ 2,941	$ 1,211

Revenue Earning Vehicles - Narr

Revenue Earning Vehicles - Narrative (Details) - EV Disposal Group - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Held-for-Sale
Long-Lived Assets Held-for-sale [Line Items]
Disposal group, not discontinued operation, loss (gain) on write-down	$ 176
Disposal group, including discontinued operation, property, plant and equipment, current	$ 27	$ 542
Disposed of by Sale
Long-Lived Assets Held-for-sale [Line Items]
Disposal group, including discontinued operations, percentage of disposal group sold	95%
Disposal group, not discontinued operation, loss (gain) on write-down	$ 47
Americas Rental Car segment | Held-for-Sale
Long-Lived Assets Held-for-sale [Line Items]
Disposal group, not discontinued operation, loss (gain) on write-down	165
Disposal group, including discontinued operation, property, plant and equipment, current	18
International Rental Car segment | Held-for-Sale
Long-Lived Assets Held-for-sale [Line Items]
Disposal group, not discontinued operation, loss (gain) on write-down	11
Disposal group, including discontinued operation, property, plant and equipment, current	$ 9

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Details)	3 Months Ended
	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Finite-Lived Intangible Assets [Line Items]
Goodwill impairment	$ 0
Intangible assets	$ 2,856,000,000	$ 2,863,000,000
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	$ 934,000,000
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	20%
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	Sep. 30, 2024	Jun. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs and Net (Discount) Premium	$ (98)		$ (66)
Total Debt	$ 16,956		$ 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	$ 4,653		$ 3,449
First Lien RCF | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.98%
Outstanding principal	$ 250		0
Term B Loan | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.85%
Outstanding principal	$ 1,258		1,268
Incremental Term B Loan | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.98%
Outstanding principal	$ 496		500
Term C Loan | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.87%
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	$ 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	$ 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)	6.75%
Outstanding principal	$ 2		2
Finance lease liability	2		1
Vehicle Debt
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs and Net (Discount) Premium	(58)		(72)
Total Debt	12,303		12,242
HVF III U.S. Vehicle Variable Funding Notes
Debt Instrument [Line Items]
Outstanding principal	$ 1,790		1,680
HVF III Series 2021-A Class A
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.71%
Outstanding principal	$ 1,602		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	$ 8,081		8,523
HVF III Series 2021-1 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.66%
Outstanding principal	$ 1,000		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
HVF III Series 2024-1 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.98%
Outstanding principal	$ 375		0
HVF III Series 2024-2 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.03%
Outstanding principal	$ 375		0
Vehicle Debt - Other
Debt Instrument [Line Items]
Outstanding principal	$ 2,490		2,111
European ABS
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.42%
Outstanding principal	$ 1,446		1,205
Hertz Canadian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.24%
Outstanding principal	$ 421		350
Australian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.95%
Outstanding principal	$ 219		203
New Zealand RCF
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.22%
New Zealand RCF | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding principal	$ 58		70
U.K. Financing Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)	7.60%
Outstanding principal	$ 197		173
Other Vehicle Debt
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.78%
Outstanding principal	$ 149		110
Finance lease liability	$ 101		$ 104

Debt - Narrative (Details)

Debt - Narrative (Details) $ / shares in Units, £ in Millions, $ in Millions, € in Billions		1 Months Ended	3 Months Ended	9 Months Ended
		Jun. 30, 2024 USD ($) $ / shares	Sep. 30, 2024 USD ($)	Sep. 30, 2024 USD ($)	Mar. 31, 2025 USD ($)	Dec. 31, 2024 USD ($)	Dec. 31, 2024 EUR (€)	Dec. 31, 2024 CAD ($)	Nov. 30, 2024 GBP (£)	Oct. 31, 2024 GBP (£)	Jul. 31, 2024 USD ($)	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			$ 3,647,000,000	$ 3,647,000,000
Total assets	[1]		22,979,000,000	22,979,000,000																$ 24,605,000,000
Liabilities	[1]		22,298,000,000	$ 22,298,000,000																21,513,000,000
Variable Interest Entity, Primary Beneficiary
Debt Instrument [Line Items]
Ownership percentage				25%
Total assets			2,000,000,000	$ 2,000,000,000																1,700,000,000
Liabilities			2,000,000,000	2,000,000,000																1,700,000,000
Letter of Credit
Debt Instrument [Line Items]
Outstanding standby letters of credit			$ 864,000,000	864,000,000
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			$ 1,147,000,000	$ 1,147,000,000
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
First Lien RCF | Forecast
Debt Instrument [Line Items]
Debt instrument, covenant, liquidity, monthly minimum					$ 500,000,000	$ 500,000,000
Maximum consolidated leverage ratio						3	3	3
European ABS
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount			1,446,000,000	1,446,000,000																1,205,000,000
Maximum borrowing capacity | €															€ 1.5		€ 1.3	€ 1.2
Remaining capacity			194,000,000	194,000,000
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			603,000,000	603,000,000
Term C Loan | Medium-term Notes
Debt Instrument [Line Items]
Debt instrument, aggregate principal amount			245,000,000	245,000,000																245,000,000
Remaining capacity			0	0
Term C Loan and First Lien Revolving Credit Facility | Medium-term Notes
Debt Instrument [Line Items]
Long-term debt			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%
Exchangeable Notes
Debt Instrument [Line Items]
Debt discount			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%
Debt instrument, conversion price (in dollars per share) | $ / shares		$ 6.6252
Debt instrument, threshold percentage of exchange price		250%
Long-term debt			189,000,000	189,000,000
Exchangeable Notes | Senior Notes | CK Amarillo Investors | Hertz Holdings
Debt Instrument [Line Items]
Proceeds from exchangeable notes		$ 44,000,000
U.K. Financing Facility
Debt Instrument [Line Items]
Remaining capacity			58,000,000	58,000,000
U.K. Financing Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity | £												£ 170	£ 155	£ 135
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			$ 8,081,000,000	$ 8,081,000,000																$ 8,523,000,000
Long-term debt											$ 375,000,000
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of September 30, 2024 and December 31, 2023 include total assets of variable interest entities (“VIEs”) of $2.0 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 September 30, 2024 and December 31, 2023 include total liabilities of VIEs of $2.0 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 7, "Debt," for further information.

Debt - Schedule of Net Carrying

Debt - Schedule of Net Carrying Amount (Details) - Exchangeable Notes - Senior Notes $ in Millions	Sep. 30, 2024 USD ($)
Debt Instrument [Line Items]
Principal	$ 250
Unamortized debt discount and debt issuance costs	(61)
Net carrying amount	$ 189

Debt - Schedule of Interest Exp

Debt - Schedule of Interest Expense Associated with Exchangeable Notes (Details) - Exchangeable Notes - Senior Notes - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Debt Instrument [Line Items]
Contractual interest expense	$ 5	$ 0	$ 5	$ 0
Amortization of debt discount and debt issuance costs	2	0	2	0
(Gain) loss on fair value of Exchange Feature	(14)	0	(14)	0
Total	$ (7)	$ 0	$ (7)	$ 0

Debt - Borrowing Capacity (Deta

Debt - Borrowing Capacity (Details) $ in Millions	Sep. 30, 2024 USD ($)
Debt Instrument [Line Items]
Remaining Capacity	$ 3,647
Availability Under Borrowing Base Limitation	1,147
Non-Vehicle Debt
Debt Instrument [Line Items]
Remaining Capacity	1,147
Availability Under Borrowing Base Limitation	1,147
First Lien RCF
Debt Instrument [Line Items]
Remaining Capacity	1,147
Availability Under Borrowing Base Limitation	1,147
Vehicle Debt
Debt Instrument [Line Items]
Remaining Capacity	2,500
Availability Under Borrowing Base Limitation	0
HVF III Series 2021-A
Debt Instrument [Line Items]
Remaining Capacity	2,163
Availability Under Borrowing Base Limitation	0
European ABS
Debt Instrument [Line Items]
Remaining Capacity	194
Availability Under Borrowing Base Limitation	0
Hertz Canadian Securitization
Debt Instrument [Line Items]
Remaining Capacity	43
Availability Under Borrowing Base Limitation	0
Australian Securitization
Debt Instrument [Line Items]
Remaining Capacity	16
Availability Under Borrowing Base Limitation	0
New Zealand RCF
Debt Instrument [Line Items]
Remaining Capacity	18
Availability Under Borrowing Base Limitation	0
U.K. Financing Facility
Debt Instrument [Line Items]
Remaining Capacity	58
Availability Under Borrowing Base Limitation	0
Other Vehicle Debt
Debt Instrument [Line Items]
Remaining Capacity	8
Availability Under Borrowing Base Limitation	$ 0

Leases (Details)

Leases (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Lessor, Lease, Description [Line Items]
Revenues	$ 2,506	$ 2,631	$ 6,823	$ 7,001
Variable operating lease income	176	155	480	452
Revenue accounted for under Topic 606	70	72	186	186
Revenues	2,576	2,703	7,009	7,187
Vehicle Rentals, Operating Lease
Lessor, Lease, Description [Line Items]
Revenues	$ 2,330	$ 2,476	$ 6,343	$ 6,549

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Contingency [Line Items]
Income tax benefit	$ 288	$ 70	$ 291	$ 185
Effective tax rate (as percent)	18%	(13.00%)	11%	(24.00%)
The Hertz Corporation
Income Tax Contingency [Line Items]
Income tax benefit	$ 287	$ 68	$ 291	$ 184
Effective tax rate (as percent)	17%	(30.00%)	10%	(27.00%)

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			1 Months Ended		3 Months Ended	9 Months Ended
	Jun. 28, 2024	Jun. 27, 2024	Sep. 30, 2024	Jun. 30, 2024	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2022
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Exercise price of public warrants or rights (in dollars per share)	$ 13.61	$ 13.80			$ 13.61	$ 13.80
Number of securities called by warrants (in shares)	1.0140	1
Warrants exercised (in shares)			6,344,347		380	9,143
Warrants exercised, cashless (in shares)						5,516
Warrants exercised, cash (in shares)					380	3,247
Aggregate purchase price						$ 0	$ 272
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)				66,684,169		0
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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net income (loss) available to Hertz Global common stockholders, basic	$ (1,332)	$ 629	$ (2,383)	$ 964
Change in fair value of Public Warrants	0	(328)	0	(110)
Net income (loss) available to Hertz Global common stockholders, diluted	$ (1,332)	$ 300	$ (2,383)	$ 853
Denominator:
Basic weighted-average common shares outstanding (in shares)	307	311	306	315
Dilutive effect of stock options, RSUs and PSUs (in shares)	0	2	0	1
Dilutive effect of Public Warrants (in shares)	0	14	0	15
Diluted weighted-average shares outstanding (in shares)	307	327	306	332
Total antidilutive (in shares)	293	5	172	6
Earnings (loss) per common share:
Basic (in dollars per share)	$ (4.34)	$ 2.02	$ (7.79)	$ 3.06
Diluted (in dollars per share)	$ (4.34)	$ 0.92	$ (7.79)	$ 2.57
Antidilutive Public Warrants
Denominator:
Total antidilutive (in shares)	240	0	146	0
Antidilutive stock options, RSUs and PSUs
Denominator:
Total antidilutive (in shares)	15	5	13	6
Antidilutive shares related to Exchangeable Notes
Denominator:
Total antidilutive (in shares)	38	0	13	0

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 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)	47,576,994
Unrecognized compensation cost	$ 112
Period for recognition of total unrecognized compensation cost	1 year 8 months 12 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)	5,201,383	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]
Shares outstanding (in shares)	18,106,295	6,314,564
Award vesting period	3 years
Omnibus Incentive Plan 2021 | Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	191,000

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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee compensation expense			$ 48	$ 65
Stock-based compensation forfeitures			68	0
Omnibus Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee compensation expense	$ 15	$ 21	(21)	64
Income tax benefit	(2)	1	(7)	(7)
Employee compensation expense, net	$ 13	$ 22	(28)	$ 57
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	9 Months Ended	12 Months Ended
	Sep. 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)	(630,308)
Outstanding ending balance (in shares)	1,801,195	2,431,503
Exercisable (in shares)	(1,233,481)
Non-vested (in shares)	567,714
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	6 years 8 months 12 days	6 years 8 months 12 days
Weighted average remaining contractual term, exercisable	6 years 6 months
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	9 Months Ended
	Sep. 30, 2024 USD ($) $ / shares shares
Shares
Outstanding beginning balance (in shares) | shares	9,102,738
Granted (in shares) | shares	5,432,847
Vested (in shares) | shares	0
Forfeited or Expired (in shares) | shares	(9,334,202)
Outstanding ending balance (in shares) | shares	5,201,383
Weighted- Average Fair Value
Outstanding beginning balance (in dollars per share) | $ / shares	$ 17.52
Granted (in dollars per share) | $ / shares	4.55
Vested (in dollars per share) | $ / shares	0
Forfeited or Expired (In dollars per share) | $ / shares	17.12
Outstanding ending balance (in dollars per share) | $ / shares	$ 4.69
Aggregate Intrinsic Value (In millions)
Beginning balance | $	$ 95
Ending Balance | $	$ 17
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
	Jul. 31, 2024	Jun. 30, 2024	Apr. 30, 2024
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	70%	65%	60%
Expected dividend yield	0%	0%	0%
Expected term (years)	5 years	5 years	5 years
Risk-free interest rate	4.17%	4.30%	4.34%
Weighted-average grant date fair value (in dollars per share)	$ 2.51	$ 1.71	$ 5.92

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	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Shares
Outstanding beginning balance (in shares)	6,314,564
Granted (in shares)	17,773,434
Vested (in shares)	(1,930,472)
Forfeited or Expired (in shares)	(4,051,231)
Outstanding ending balance (in shares)	18,106,295
Weighted- Average Fair Value
Outstanding beginning balance (in dollars per share)	$ 15.71
Granted (in dollars per share)	5.44	$ 17.57
Vested (in dollars per share)	13.22
Forfeited or Expired (In dollars per share)	12.10
Outstanding ending balance (in dollars per share)	$ 6.70
Aggregate Intrinsic Value (In millions)
Beginning balance	$ 66
Ending Balance	$ 60

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	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of awards that vested (in millions)	$ 26	$ 9
Weighted-average grant-date fair value of awards granted (in dollars per share)	$ 5.44	$ 17.57

Financial Instruments - Narrati

Financial Instruments - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 instrument	Dec. 31, 2023 instrument
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]
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

Financial Instruments - Schedul

Financial Instruments - Schedule of Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset derivatives	$ 7	$ 15
Liability derivatives	56	2
Interest rate instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset derivatives	1	10
Liability derivatives	0	0
Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset derivatives	6	5
Liability derivatives	2	2
Exchange Feature related to Exchangeable Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset derivatives	0	0
Liability derivatives	$ 54	$ 0

Financial Instruments - Summary

Financial Instruments - Summary of Financial Instruments, Gain (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains or (losses) on financial instruments	$ 15	$ 1	$ 4	$ 2
Interest rate instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains or (losses) on financial instruments	(3)	(7)	(5)	4
Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains or (losses) on financial instruments	4	8	(5)	(2)
Exchange Feature related to Exchangeable Notes
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains or (losses) on financial instruments	$ 14	$ 0	$ 14	$ 0

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Senior Notes | Exchangeable Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	$ 250
Level 3 | Senior Notes | Exchangeable Notes
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Aggregate Fair Value	54
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	17,112	$ 15,829
Aggregate Fair Value	16,296	15,163
Fair Value, Measurements, Recurring | Other Non-Vehicle Debt | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	4,751	3,515
Aggregate Fair Value	4,160	3,285
Fair Value, Measurements, Recurring | 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	4,501	3,515
Aggregate Fair Value	3,910	3,285
Fair Value, Measurements, Recurring | 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
Fair Value, Measurements, Recurring | Vehicle Debt | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	12,361	12,314
Aggregate Fair Value	$ 12,136	$ 11,878

Fair Value Measurements - Cash

Fair Value Measurements - Cash and Cash Equivalents and Investments (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash equivalents	$ 145	$ 362
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash equivalents	145	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
Antidilutive Public Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Public Warrants	181	453
Antidilutive Public Warrants | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Public Warrants	181	453
Antidilutive Public Warrants | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Public Warrants	0	0
Antidilutive Public 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	54	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	$ 54	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Change in fair value of Public Warrants	$ (21)	$ (328)	$ (272)	$ (110)

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Key Inputs Used In Fair Value Computation (Details)	Sep. 30, 2024
Hertz Global common share price
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	3.30
Expected term (years)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	4.79
Risk-free interest rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	0.0358
Credit spread
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative liability, measurement input	0.0963
Expected 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 $ in Millions	9 Months Ended
	Sep. 30, 2024 USD ($)
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
(Gain) loss in fair value recognized in earnings	(14)
Fair value at the end of the period	$ 54

Contingencies and Off-Balance_2

Contingencies and Off-Balance Sheet Commitments (Details) $ / shares in Units, $ in Millions			1 Months Ended	9 Months Ended
	Jun. 14, 2024 USD ($) claim $ / shares	Jul. 01, 2021 USD ($)	Dec. 31, 2022 USD ($) claimant	Sep. 30, 2024 USD ($)	Aug. 26, 2024 director	Dec. 31, 2023 USD ($)
Loss Contingencies [Line Items]
Self-insured liabilities				$ 559		$ 471
Litigation settlement			$ 168
Settlement agreements, number of claimants | claimant			364
Number of independent directors | director					2
Wells Fargo Bank, National Association v. The Hertz Corporation | Hertz Global
Loss Contingencies [Line Items]
Litigation settlement				320
Wells Fargo Bank, National Association v. The Hertz Corporation | Payment of Underlying Claims | Hertz Global
Loss Contingencies [Line Items]
Litigation settlement				260
Wells Fargo Bank, National Association v. The Hertz Corporation | Payment of Pre-Judgment Interest | Hertz Global
Loss Contingencies [Line Items]
Litigation settlement				60
Operating Segments | Americas Rental Car segment
Loss Contingencies [Line Items]
Self-insured liabilities				$ 422		$ 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 Global
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) - CK Amarillo Investors - Senior Notes - Exchangeable Notes $ in Millions	1 Months Ended
	Jun. 30, 2024 USD ($)
Related Party Transaction [Line Items]
Debt instrument, maximum principal amount available for sale	$ 44
Hertz Holdings
Related Party Transaction [Line Items]
Proceeds from exchangeable notes	$ 44

Segment Information - Narrative

Segment Information - Narrative (Details)	9 Months Ended
	Sep. 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		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues	$ 2,576	$ 2,703	$ 7,009	$ 7,187
Depreciation of revenue earning vehicles and lease charges, net	937	501	2,941	1,211
Adjusted EBITDA	(157)	359	(1,184)	943
Americas RAC
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues	2,062	2,172	5,729	5,917
Depreciation of revenue earning vehicles and lease charges, net	822	414	2,603	1,035
International RAC
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues	514	531	1,280	1,270
Depreciation of revenue earning vehicles and lease charges, net	115	87	338	176
Operating Segments
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA	(106)	411	(1,030)	1,152
Operating Segments | Americas RAC
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA	(169)	302	(1,060)	894
Operating Segments | International RAC
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA	63	109	30	258
Corporate
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA	$ (51)	$ (52)	$ (154)	$ (209)

Segment Information - Total Ass

Segment Information - Total Assets (Details) - USD ($) $ in Millions		Sep. 30, 2024	Dec. 31, 2023
Revenue earning equipment
Revenue earning vehicles, net		$ 13,235	$ 14,651
Total assets	[1]	22,979	24,605
Variable Interest Entity, Primary Beneficiary
Revenue earning equipment
Total assets		2,000	1,700
The Hertz Corporation
Revenue earning equipment
Revenue earning vehicles, net		13,235	14,651
Total assets	[2]	22,978	24,604
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Revenue earning equipment
Total assets		2,000	1,700
Americas RAC
Revenue earning equipment
Revenue earning vehicles, net		10,988	12,450
International RAC
Revenue earning equipment
Revenue earning vehicles, net		2,247	2,201
Operating Segments
Revenue earning equipment
Total assets		22,070	23,497
Operating Segments | Americas RAC
Revenue earning equipment
Total assets		18,062	19,252
Operating Segments | International RAC
Revenue earning equipment
Total assets		4,008	4,245
Corporate
Revenue earning equipment
Total assets		909	1,108
Corporate | The Hertz Corporation
Revenue earning equipment
Total assets		$ (1)	$ (1)
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of September 30, 2024 and December 31, 2023 include total assets of variable interest entities (“VIEs”) of $2.0 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 September 30, 2024 and December 31, 2023 include total liabilities of VIEs of $2.0 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 7, "Debt," for further information.[2]The Hertz Corporation's consolidated total assets as of September 30, 2024 and December 31, 2023 include total assets of VIEs of $2.0 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 September 30, 2024 and December 31, 2023 include total liabilities of VIEs of $2.0 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 7, "Debt," for further information.

Segment Information - Pre-tax I

Segment Information - Pre-tax Income (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenue earning equipment
Adjusted EBITDA	$ (157)	$ 359		$ (1,184)	$ 943
Income (loss) before income taxes	(1,620)	559		(2,674)	779
Restructuring and restructuring related charges
Revenue earning equipment
Income (loss) before income taxes	(1)	(2)		(45)	(10)
Change in fair value of Public Warrants
Revenue earning equipment
Income (loss) before income taxes	21	328		272	110
Unrealized gains (losses) on financial instruments
Revenue earning equipment
Income (loss) before income taxes	16	(1)		8	(107)
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		64	0
Bankruptcy-related litigation reserve
Revenue earning equipment
Income (loss) before income taxes	(288)	0		(288)	0
Long-Lived Assets impairment
Revenue earning equipment
Income (loss) before income taxes	(1,048)	0		(1,048)	0
Other items
Revenue earning equipment
Income (loss) before income taxes	(15)	(18)		(47)	(18)
Operating Segments
Revenue earning equipment
Adjusted EBITDA	(106)	411		(1,030)	1,152
Operating Segments | Americas RAC
Revenue earning equipment
Adjusted EBITDA	(169)	302		(1,060)	894
Operating Segments | International RAC
Revenue earning equipment
Adjusted EBITDA	63	109		30	258
Corporate
Revenue earning equipment
Adjusted EBITDA	(51)	(52)		(154)	(209)
The Hertz Corporation
Revenue earning equipment
Adjusted EBITDA	(157)	359		(1,184)	943
Income (loss) before income taxes	(1,641)	231		(2,946)	669
Unrealized gain (loss) on derivatives			$ 88		88
The Hertz Corporation | Restructuring and restructuring related charges
Revenue earning equipment
Income (loss) before income taxes	(1)	(2)		(45)	(10)
The Hertz Corporation | Unrealized gains (losses) on financial instruments
Revenue earning equipment
Income (loss) before income taxes	16	(1)		8	(107)
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			0
The Hertz Corporation | Bankruptcy-related litigation reserve
Revenue earning equipment
Income (loss) before income taxes	(288)	0		(288)	0
The Hertz Corporation | Long-Lived Assets impairment
Revenue earning equipment
Income (loss) before income taxes	(1,048)	0		(1,048)	0
The Hertz Corporation | Other items
Revenue earning equipment
Income (loss) before income taxes	(15)	(18)		(47)	(18)
The Hertz Corporation | Operating Segments
Revenue earning equipment
Adjusted EBITDA	(106)	411		(1,030)	1,152
The Hertz Corporation | Operating Segments | Americas RAC
Revenue earning equipment
Adjusted EBITDA	(169)	302		(1,060)	894
The Hertz Corporation | Operating Segments | International RAC
Revenue earning equipment
Adjusted EBITDA	63	109		30	258
The Hertz Corporation | Corporate
Revenue earning equipment
Adjusted EBITDA	(51)	(52)		(154)	(209)
Non-vehicle | Non-vehicle deprecation and amortization
Revenue earning equipment
Income (loss) before income taxes	(34)	(33)		(107)	(100)
Non-vehicle | Non-vehicle debt interest, net
Revenue earning equipment
Income (loss) before income taxes	(103)	(63)		(266)	(170)
Non-vehicle | The Hertz Corporation | Non-vehicle deprecation and amortization
Revenue earning equipment
Income (loss) before income taxes	(34)	(33)		(107)	(100)
Non-vehicle | The Hertz Corporation | Non-vehicle debt interest, net
Revenue earning equipment
Income (loss) before income taxes	(103)	(63)		(266)	(170)
Vehicles | Vehicle debt-related charges
Revenue earning equipment
Income (loss) before income taxes	(11)	(11)		(33)	(31)
Vehicles | The Hertz Corporation | Vehicle debt-related charges
Revenue earning equipment
Income (loss) before income taxes	$ (11)	$ (11)		$ (33)	$ (31)