Hertz (HRZ) 10-K 29 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 22, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	Hertz Corp
Entity Central Index Key	47,129
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		100
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Entity Public Float			$ 0

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Cash and cash equivalents	$ 479	$ 490
Restricted cash and cash equivalents	349	571
Receivables, net of allowance of $60 and $67, respectively	2,074	1,597
Due from affiliate	0	95
Inventories, net	51	67
Prepaid expenses and other assets	848	917
Revenue earning equipment:
Vehicles	13,441	14,622
Less accumulated depreciation - vehicles	(2,695)	(3,411)
Equipment	3,526	3,613
Less accumulated depreciation - equipment	(1,144)	(1,171)
Revenue earning equipment, net	13,128	13,653
Property and other equipment:
Land, buildings and leasehold improvements	1,347	1,268
Service equipment and other	1,075	1,148
Less accumulated depreciation	(1,174)	(1,094)
Property and other equipment, net	1,248	1,322
Other intangible assets, net	3,822	4,009
Goodwill	1,354	1,359
Total assets	23,353	24,080
LIABILITIES AND EQUITY
Accounts payable	875	1,008
Accrued liabilities	1,106	1,148
Accrued taxes, net	172	134
Debt	15,907	15,993
Public liability and property damage	402	385
Deferred taxes on income, net	2,943	2,917
Total liabilities	$ 21,405	$ 21,585
Commitments and contingencies
Equity:
Common Stock, $0.01 par value, 3,000 shares authorized, 100 shares issued and outstanding	$ 0	$ 0
Additional paid-in capital	3,583	3,566
Due from affiliate	(345)	0
Accumulated deficit	(1,045)	(956)
Accumulated other comprehensive income (loss)	(245)	(115)
Total equity	1,948	2,495
Total liabilities and equity	$ 23,353	$ 24,080

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Receivables, allowance for doubtful accounts (in dollars)	$ 60	$ 67
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	3,000	3,000
Common Stock, shares issued	100	100
Common Stock, shares outstanding	100	100

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Worldwide car rental	$ 8,434	$ 8,907	$ 8,709
Worldwide equipment rental	1,518	1,571	1,539
All other operations	583	568	527
Total revenues	10,535	11,046	10,775
Expenses:
Direct operating	5,896	6,314	5,777
Depreciation of revenue earning equipment and lease charges, net	2,762	3,034	2,533
Selling, general and administrative	1,045	1,088	1,053
Interest expense, net	619	641	669
Other (income) expense, net	(131)	(15)	64
Total expenses	10,191	11,062	10,096
Total income (loss)	344	(16)	679
(Provision) benefit for taxes on income (loss)	(68)	(62)	(329)
Net income (loss)	$ 276	$ (78)	$ 350

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 276	$ (78)	$ 350
Other comprehensive income (loss):
Foreign currency translation adjustments	(87)	(57)	(45)
Reclassification of foreign currency items to other (income) expense, net	(42)	0	1
Unrealized holding gains (losses) on securities	0	(14)	21
Reclassification of net unrealized gains on securities to prepaid expense and other assets	0	(7)	0
Net gain (loss) on defined benefit pension plans	(23)	(41)	85
Reclassification from other comprehensive income (loss) to selling, general and administrative expense for amortization of actuarial (gains) losses on defined benefit pension plans	9	(11)	2
Total other comprehensive income (loss), before income taxes	(143)	(130)	64
Income tax (provision) benefit related to net gains and losses on defined benefit pension plans	15	7	(33)
Income tax (provision) benefit related to reclassified amounts of net periodic costs on defined benefit pension plans	(2)	2	(2)
Total other comprehensive income (loss)	(130)	(121)	29
Total comprehensive income (loss)	$ 146	$ (199)	$ 379

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Millions	Total	Common Stock	Additional Paid-In Capital	Due From Affiliate	Accumulated Deficit	Accumulated Other Comprehensive Income (Loss)
Beginning balance, shares at Dec. 31, 2012		100
Beginning balance at Dec. 31, 2012	$ 2,741	$ 0	$ 3,510	$ 0	$ (746)	$ (23)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	350				350
Dividends paid to Hertz Global Holdings, Inc.	(482)				(482)
Other comprehensive income (loss)	29					29
Proceeds from employee stock purchase plan	6		6
Stock-based employee compensation charges	35		35
Hertz Holdings common shares issued to Directors	1		1
Ending balance, shares at Dec. 31, 2013		100
Ending balance at Dec. 31, 2013	2,680	$ 0	3,552	0	(878)	6
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(78)				(78)
Other comprehensive income (loss)	(121)					(121)
Proceeds from employee stock purchase plan	4		4
Stock-based employee compensation charges	9		9
Hertz Holdings common shares issued to Directors	1		1
Ending balance, shares at Dec. 31, 2014		100
Ending balance at Dec. 31, 2014	2,495	$ 0	3,566	0	(956)	(115)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	276				276
Due from affiliate	(345)			(345)
Dividends paid to Hertz Global Holdings, Inc.	(365)				(365)
Other comprehensive income (loss)	(130)					(130)
Stock-based employee compensation charges	17		17
Ending balance, shares at Dec. 31, 2015		100
Ending balance at Dec. 31, 2015	$ 1,948	$ 0	$ 3,583	$ (345)	$ (1,045)	$ (245)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net income (loss)	$ 276	$ (78)	$ 350
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation of revenue earning equipment, net	2,690	2,954	2,452
Depreciation and amortization, non-fleet	352	366	339
Amortization and write-off of deferred financing costs	61	56	54
Amortization and write-off of debt discount (premium)	(1)	(13)	(6)
Stock-based compensation charges	17	11	35
(Gain) loss on disposal of business	(51)	0	4
Loss on extinguishment of debt	0	0	7
Provision for receivables allowance	55	62	71
Deferred taxes on income	3	8	255
Impairment charges and asset write-downs	70	47	40
(Gain) loss on sale of shares in equity method investment	(133)	0	0
Other	(10)	(18)	(6)
Changes in assets and liabilities, net of effects of acquisition:
Receivables	(62)	(90)	(53)
Inventories, prepaid expenses and other assets	(23)	(64)	(35)
Accounts payable	(16)	23	54
Accrued liabilities	43	140	28
Accrued taxes	25	(3)	27
Public liability and property damage	36	56	(1)
Net cash provided by (used in) operating activities	3,332	3,457	3,615
Cash flows from investing activities:
Net change in restricted cash and cash equivalents	215	283	(315)
Revenue earning equipment expenditures	(12,658)	(11,289)	(10,289)
Proceeds from disposal of revenue earning equipment	9,623	8,209	7,256
Capital asset expenditures, non-fleet	(327)	(374)	(327)
Proceeds from disposal of property and other equipment	115	93	81
Acquisitions, net of cash acquired	(95)	(75)	(41)
Proceeds from disposal of business	126	0	0
Sales of (investment in) shares in equity method investment	236	(30)	(213)
Advances to Hertz Global Holdings, Inc.	(267)	(28)	(129)
Repayments from Hertz Global Holdings, Inc.	0	25	49
Other investing activities	0	0	(2)
Net cash provided by (used in) investing activities	(3,032)	(3,186)	(3,930)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	1,676	400	2,275
Repayments of long-term debt	(1,293)	(1,183)	(1,045)
Short-term borrowings:
Proceeds	623	626	596
Payments	(617)	(726)	(1,018)
Proceeds under the revolving lines of credit	7,097	5,864	9,012
Payments under the revolving lines of credit	(7,393)	(5,081)	(9,104)
Payment of financing costs	(29)	(63)	(54)
Dividend paid to Hertz Global Holdings, Inc.	0	0	(482)
Advances to Hertz Global Holdings, Inc.	(344)	0	0
Other	0	2	5
Net cash provided by (used in) financing activities	(280)	(161)	185
Effect of foreign exchange rate changes on cash and cash equivalents	(31)	(31)	0
Net increase (decrease) in cash and cash equivalents during the period	(11)	79	(130)
Cash and cash equivalents at beginning of period	490	411	541
Cash and cash equivalents at end of period	479	490	411
Cash paid during the period for:
Interest, net of amounts capitalized	572	557	632
Income taxes, net of refunds	34	64	71
Supplemental disclosures of non-cash information:
Purchases of revenue earning equipment included in accounts payable and accrued liabilities	170	198	289
Sales of revenue earning equipment included in receivables	1,104	544	357
Purchases of property and other equipment included in accounts payable	33	69	56
Sales of property and other equipment included in receivables	16	4	17
Consideration for equity method investment	0	130	23
Revenue earning equipment and property and equipment acquired through capital lease	$ 11	22	52
Non-cash dividend paid to affiliate		$ 0	$ 0

Background

Background	12 Months Ended
	Dec. 31, 2015
Background Disclosure [Abstract]
Background	Background The Hertz Corporation ("Hertz" and together with its subsidiaries, the "Company") is a successor to corporations that have been engaged in the car and truck rental and leasing business since 1918 and the equipment rental business since 1965. Hertz was incorporated in Delaware in 1967 and all of its outstanding common stock is owned by Hertz Investors, Inc. which is wholly-owned by Hertz Global Holdings, Inc. ("Hertz Holdings"). Hertz is the primary operating company of Hertz Holdings. The Company operates its U.S. car rental and International car rental businesses through the Hertz, Dollar, Thrifty and Firefly brands from company-owned, licensee and franchisee locations in the U.S., Africa, Asia, Australia, Canada, Europe, Latin America, the Middle East and New Zealand. In its worldwide equipment rental business, the Company rents equipment in the U.S., Canada, China, Qatar, Saudi Arabia and the United Kingdom, as well as through its international franchises. Through its Donlen subsidiary, the Company provides fleet leasing and fleet management services. In March 2014, Hertz Holdings announced that its Board of Directors approved plans to separate Hertz Holdings into two independent, publicly traded companies. One of the companies, Hertz Rental Car Holding Company, Inc. ("HRCHC") will continue to operate the Hertz, Dollar, Thrifty and Firefly car rental businesses as well as Donlen; and the other, HERC Holdings, Inc. ("HERC Holdings") will operate the Hertz Equipment Rental Corporation ("HERC"). The Company expects to separate the businesses in a tax-efficient manner. In December 2015, HRCHC filed a registration statement on Form 10 with the SEC in respect of the separation. In November 2015, the Company completed the relocation of its worldwide headquarters to Estero, Florida from Park Ridge, New Jersey.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Critical and Significant Accounting Policies	Summary of Critical and Significant Accounting Policies Accounting Principles The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”). Principles of Consolidation The consolidated financial statements include the accounts of Hertz and its wholly owned and majority owned U.S. and international subsidiaries. In the event that the Company is a primary beneficiary of a variable interest entity, the assets, liabilities, and results of operations of the variable interest entity are included in the Company's consolidated financial statements. The Company accounts for its investment in CAR Inc. and other immaterial investments in joint ventures using the equity method when it has significant influence but not control and is not the primary beneficiary. All significant intercompany transactions have been eliminated in consolidation. Out Of Period Adjustments The Company identified various misstatements relating to prior year financial statements that it corrected in the third quarter 2015. The cumulative impact of the adjustments was a decrease to pre-tax income of approximately $13 million and a decrease to net earnings of approximately $9 million and is comprised of $4 million related to the accounting for the post-acquisition sale of land that was revalued as part of the December 2005 acquisition of the Company, $4 million of additional accruals for the periods 2009 through 2014 resulting from concession audits at certain airport locations, a $4 million obligation to a jurisdiction for customer transaction fees and $1 million of additional write-offs of assets that were incorrectly capitalized. The Company considered both quantitative and qualitative factors in assessing the materiality of the items individually, and in the aggregate, and determined that the misstatements were not material to any prior period and not material to the year ended December 31, 2015. The misstatements were identified in the third quarter of 2015 and a portion of the misstatements related to the first and second quarters of 2015, as further described in Note 20 , " Quarterly Financial Information (Unaudited) ." Use of Estimates and Assumptions The preparation of financial statements in conformity with U.S.GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes. Actual results could differ materially from those estimates. Significant estimates inherent in the preparation of the consolidated financial statements include depreciation of revenue earning equipment, reserves for litigation and other contingencies, accounting for income taxes and related uncertain tax positions, pension and postretirement benefit costs, the fair value of assets and liabilities acquired in business combinations, the recoverability of long-lived assets, useful lives and impairment of long-lived tangible and intangible assets including goodwill, valuation of stock-based compensation, public liability and property damage reserves, reserves for restructuring, allowance for doubtful accounts, and fair value of financial instruments, among others . Critical Accounting Policies Revenue Earning Equipment Revenue earning equipment is stated at cost, net of related discounts. Generally, holding periods are as follows: Rental cars 6 to 36 months Other equipment 24 to 108 months Incentives received from the manufacturers for purchases of vehicles or equipment reduce the capitalized cost. Generally, when revenue earning equipment is acquired outside of a car repurchase program, the Company estimates the period that the Company will hold the asset, primarily based on historical measures of the amount of rental activity (e.g., automobile mileage and equipment usage) and the targeted age of equipment at the time of disposal. The Company also estimates the residual value of the applicable revenue earning equipment at the expected time of disposal. The residual values for rental vehicles are affected by many factors, including make, model and options, age, physical condition, mileage, sale location, time of the year and channel of disposition (e.g., auction, retail, dealer direct). The residual value for rental equipment is affected by factors which include equipment age and amount of usage. Depreciation is recorded over the estimated holding period. Depreciation rates are reviewed on a quarterly basis based on management's ongoing assessment of present and estimated future market conditions, their effect on residual values at the time of disposal and the estimated holding periods. Market conditions for used vehicle and equipment sales can also be affected by external factors such as the economy, natural disasters, fuel prices and incentives offered by manufacturers of new cars. These key factors are considered when estimating future residual values and assessing depreciation rates. As a result of this ongoing assessment, the Company makes periodic adjustments to depreciation rates of revenue earning equipment in response to changing market conditions. Upon disposal of revenue earning equipment, depreciation expense is adjusted for the difference between the net proceeds received and the remaining net book value. Under the Company's car repurchase programs, the manufacturers agree to repurchase cars at a specified price or guarantee the depreciation rate on the cars during established repurchase or auction periods, subject to, among other things, certain car condition, mileage and holding period requirements. Guaranteed depreciation programs guarantee on an aggregate basis the residual value of the cars covered by the programs upon sale according to certain parameters which include the holding period, mileage and condition of the cars. We record a provision for excess mileage and car condition, as necessary, during the holding period. These repurchase and guaranteed depreciation programs limit the Company's residual risk with respect to cars purchased under the programs and allow us to determine depreciation expense in advance, however, typically the acquisition cost is higher for these program cars. Donlen's revenue earning equipment is leased under long term agreements with its customers. These leases contain provisions whereby Donlen has a contracted residual value guaranteed by the lessee, such that it does not experience any gains or losses on the disposal of these vehicles. Donlen accounts for its lease contracts using the appropriate lease classifications. The Company continually evaluates revenue earning equipment to determine whether events or changes in circumstances have occurred that may warrant revision of the estimated useful life or whether the equipment should be evaluated for possible impairment. The Company uses a combination of the undiscounted cash flows and market approaches in assessing whether an asset has been impaired. The Company measures impairment losses based upon the amount by which the carrying amount of the asset exceeds the fair value. Insurance Liabilities Insurance liabilities on the Company's consolidated balance sheets include public liability, property damage, liability insurance supplement, personal accident insurance, and personal effects coverage claims for which the Company is self-insured. The insurance liabilities represent an estimate for both reported accident claims not yet paid, and claims incurred but not yet reported. The related liabilities are recorded on a non-discounted basis. Reserve requirements are based on rental volume and actuarial evaluations of historical accident claim experience and trends, as well as future projections of ultimate losses, expenses, premiums and administrative costs. The adequacy of the liability is regularly monitored based on evolving accident claim history and insurance related state legislation changes. If the Company's estimates change or if actual results differ from these assumptions, the amount of the recorded liability is adjusted to reflect these results. Defined Benefit Pension Plans and Other Employee Benefits The Company has defined benefit plans worldwide. The Company also participates in multi-employer defined benefit plans for which Hertz is not the sponsor. For the Company sponsored plans, the relevant accounting guidance requires that management make certain assumptions relating to discount rates, salary growth, long-term return on plan assets, retirement rates, mortality rates and other factors. The Company believes that the accounting estimates related to its pension are critical accounting estimates, because they are susceptible to change from period to period based on the performance of plan assets, actuarial valuations, market conditions and contracted benefit changes. The selection of assumptions is based on historical trends and known economic and market conditions at the time of valuation, as well as independent studies of trends performed by the Company’s actuaries. However, actual results may differ substantially from the estimates that were based on the critical assumptions. The Company uses a December 31 measurement date for all of the plans. The Company utilizes fair value to calculate the market-related value of pension assets for the U.S. Plan for purposes of determining the expected return on plan assets and accounting for asset gains and losses. Actual results that differ from the Company's assumptions are accumulated and amortized over future periods and, therefore, generally affect its recognized expense in such future periods. Significant differences in actual experience or significant changes in assumptions would affect the Company's pension costs and obligations. The Company recognizes the funded status of each defined benefit pension plan in the consolidated balance sheet. Each overfunded plan is recognized as an asset, and each underfunded plan is recognized as a liability. Pension plan liabilities are revalued annually based on updated assumptions and information about the individuals covered by the plan. For pension plans, if accumulated actuarial gains and losses are in excess of a 10 percent corridor, the excess is amortized on a straight-line basis over the average remaining service period of active participants. Prior service cost and the transition asset are amortized on a straight-line basis from the date recognized over the average remaining service period of active participants. The Company maintains reserves for employee medical claims, up to its insurance stop-loss limit, and workers’ compensation claims. These are regularly evaluated and revised, as needed, based on a variety of information, including historical experience, actuarial estimates and current employee statistics. Recoverability of Goodwill and Intangible Assets On an annual basis and at interim periods when circumstances require, the Company tests the recoverability of its goodwill and indefinite-lived intangible assets. The Company utilizes the two-step impairment analysis and elects not to use the qualitative assessment or “step zero” approach. In the two-step impairment analysis, the Company compares the carrying value of each identified reporting unit to its fair value. If the carrying value of the reporting unit is greater than its fair value, the second step is performed, where the implied fair value of goodwill is compared to its carrying value. The Company recognizes an impairment charge for the amount by which the carrying amount of goodwill exceeds its implied fair value. The fair values of the reporting units are estimated using the net present value of discounted cash flows generated by each reporting unit and incorporate various assumptions related to discount and growth rates specific to the reporting unit to which they are applied. The Company’s discounted cash flows are based upon reasonable and appropriate assumptions, which are weighted for their likely probability of occurrence, about the underlying business activities of the Company’s reporting units. Finite Lived Intangible Assets Intangible assets include concession agreements, technology, customer relationships, trademarks and trade names and other intangibles. Intangible assets with finite lives are amortized using the straight-line method over the estimated economic lives of the assets, which range from two to sixteen years. Long-lived assets, including intangible assets with finite lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of an impairment loss for long-lived assets that management expects to hold and use is based on the estimated fair value of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or estimated fair value less costs to sell. Financial Instruments The Company is exposed to a variety of market risks, including the effects of changes in interest rates, gasoline and diesel fuel prices and foreign currency exchange rates. The Company manages exposure to these market risks through regular operating and financing activities and, when deemed appropriate, through the use of financial instruments. Financial instruments are viewed as risk management tools and have not been used for speculative or trading purposes. In addition, financial instruments are entered into with a diversified group of major financial institutions in order to manage the Company's exposure to counterparty nonperformance on such instruments. The Company accounts for all financial instruments in accordance with U.S. GAAP, which requires that they be recorded on the balance sheet as either assets or liabilities measured at their fair value. For financial instruments that are designated and qualify as hedging instruments, the Company designates the hedging instrument, based upon the exposure being hedged, as either a fair value hedge or a cash flow hedge. The effective portion of changes in fair value of financial instruments designated as cash flow hedging instruments is recorded as a component of other comprehensive income (loss). Amounts included in accumulated other comprehensive income (loss) for cash flow hedges are reclassified into earnings in the same period that the hedged item is recognized in earnings. The ineffective portion of changes in the fair value of financial instruments designated as cash flow hedges is recognized currently in earnings within the same line item as the hedged item, based upon the nature of the hedged item. For financial instruments that are not part of a qualified hedging relationship, the changes in their fair value are recognized currently in earnings. Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost is to be recognized over the period during which the employee is required to provide service in exchange for the award. The Company has estimated the fair value of options issued at the date of grant using a Black-Scholes option-pricing model, which includes assumptions related to volatility, expected life, dividend yield and risk-free interest rate. The Company accounts for restricted stock unit and performance stock unit awards as equity classified awards. For restricted stock units the expense is based on the grant-date fair value of the stock and the number of shares that vest, recognized over the service period. For performance stock units the expense is based on the grant-date fair value of the stock, recognized over a two to four year service period depending upon the applicable performance condition. For performance stock units, the Company re-assesses the probability of achieving the applicable performance condition each reporting period and adjusts the recognition of expense accordingly. Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates is recognized in the statement of operations in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Subsequent changes to enacted tax rates and changes to the global mix of earnings will result in changes to the tax rates used to calculate deferred taxes and any related valuation allowances. Provisions are not made for income taxes on undistributed earnings of international subsidiaries that are intended to be indefinitely reinvested outside the United States or are expected to be remitted free of taxes. Future distributions, if any, from these international subsidiaries to the United States or changes in U.S. tax rules may require recording a tax on these amounts. The Company has recorded a deferred tax asset for unutilized net operating loss carry forwards in various tax jurisdictions. The taxing authorities may examine the positions that led to the generation of those net operating losses. If the utilization of any of those losses are disallowed a deferred tax liability may have to be recorded. Acquisitions The Company records acquisitions resulting in the consolidation of an enterprise using the acquisition method of accounting. Under this method, the acquiring company records the assets acquired, including intangible assets that can be identified and named, and liabilities assumed based on their estimated fair values at the date of acquisition. The purchase price in excess of the fair value of the identifiable assets acquired and liabilities assumed is recorded as goodwill. If the assets acquired, net of liabilities assumed, are greater than the purchase price paid then a bargain purchase has occurred and the Company will recognize the gain immediately in earnings. Among other sources of relevant information, the Company may use independent appraisals and actuarial or other valuations to assist in determining the estimated fair values of the assets and liabilities. Various assumptions are used in the determination of these estimated fair values including discount rates, market and volume growth rates, expected royalty rates, EBITDA margins and other prospective financial information. Transaction costs associated with acquisitions are expensed as incurred. Significant Accounting Policies Revenue Recognition The Company reports revenues net of any taxes or non-concession fees collected from customers on behalf of governmental authorities. Rental Car Operations The Company derives revenue through rental activities by the operations and licensing of the Hertz, Dollar, Thrifty and Firefly brands under franchise agreements. The Company also derives revenue from other forms of rental related activities, such as sales of loss damage waivers, insurance products, fuel and fuel service charges, navigation units, new equipment sales and other consumable items. Revenue is recognized when persuasive evidence of an arrangement exists, the services have been rendered to customers, the pricing is fixed or determinable and collection is reasonably assured. Franchise fees are based on a percentage of net sales of the franchised business and are recognized as earned and when collectability is reasonably assured. Initial franchise fees are recorded as deferred income when received and are recognized as revenue when all material services and conditions related to the franchise fee have been substantially performed. Renewal franchise fees are recognized as revenue when the license agreements are effective and collectability is reasonably assured. Revenue and expenses associated with gasoline, vehicle licensing and airport concessions are recorded on a gross basis within revenue and operating expenses. Equipment Rental Operations Equipment rental revenue includes revenues generated from renting equipment to customers and is recognized on a straight-line basis over the length of the rental contract. Also included in equipment rental revenue are fees for equipment delivery and pick-up and fees for loss damage waivers which allows customers to limit the risk of financial loss in the event the Company's equipment is damaged or lost. Delivery and pick-up fees are recognized as revenue when the services are performed and fees related to loss damage waivers are recognized over the length of the contract term. Revenues from the sale of new equipment, parts and supplies are recognized at the time the customer takes possession, when collectability is reasonably assured and when all obligations under the sales contract have been fulfilled. Sales tax amounts collected from customers are recorded on a net basis. The Company generally recognizes revenue from the sale of new equipment purchased from other companies based on the gross amount billed as the Company establishes its own pricing and retains related inventory risk, is the primary obligor in sales transactions with its customers, and assumes the credit risk for amounts billed to its customers. Service and other revenue is recognized as the services are performed. Fleet Leasing and Management Operations Each customer contract is considered a standalone agreement and revenue is recognized ratably over the contract life. Administration fees and service revenue attributable to the Company's Donlen operations are recognized as services are rendered and any subscription fees are recognized ratably over the subscription life. Cash and Cash Equivalents Cash and cash equivalents include cash on hand and highly liquid investments with an original maturity of three months or less. Restricted Cash and Cash Equivalents Restricted cash and cash equivalents includes cash and cash equivalents that are not readily available for the Company's normal disbursements. Restricted cash and cash equivalents are restricted primarily for the purchase of revenue earning vehicles and other specified uses under the Company's Fleet Debt facilities, for its Like-Kind Exchange Program ("LKE Program" ) and to satisfy certain of its self-insurance regulatory reserve requirements. These funds are primarily held in highly rated money market funds with investments primarily in government and corporate obligations. Receivables Receivables are stated net of allowances and primarily represent credit extended to car manufacturers and customers that satisfy defined credit criteria. The estimate of the allowance for doubtful accounts is based on the Company's historical experience and its judgment as to the likelihood of ultimate payment. Actual receivables are written-off against the allowance for doubtful accounts when the Company determines the balance will not be collected. Estimates for future credit memos are based on historical experience and are reflected as reductions to revenue, while bad debt expense is reflected as a component of "Direct Operating" in the consolidated statements of operations. Property and Equipment Property and equipment are stated at cost and are depreciated utilizing the straight-line method over the estimated useful lives of the related assets. Useful lives are as follows: Buildings 5 to 50 years Furniture and fixtures 1 to 15 years Service cars and service equipment 1 to 13 years Leasehold improvements The lesser of the economic life or the lease term The Company follows the practice of charging maintenance and repairs, including the cost of minor replacements, to maintenance expense. Costs of major replacements of units of property are capitalized to property and equipment accounts and depreciated. Fair Value Measurements Generally accepted accounting principles define fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price) and establishes a fair value hierarchy that prioritizes the inputs used to measure fair value using the following definitions (from highest to lowest priority): Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 - Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means. Level 3 - Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable. Environmental Liabilities The use of automobiles and other vehicles is subject to various governmental controls designed to limit environmental damage, including those caused by emissions and noise. Generally, these controls are met by the manufacturer, except in the case of occasional equipment failure requiring repair. Liabilities for these expenditures are recorded at undiscounted amounts when it is probable that obligations have been incurred and the amounts can be reasonably estimated. Asset Retirement Obligations The Company maintains a liability for asset retirement obligations. Asset retirement obligations are legal obligations to perform certain activities in connection with the retirement, disposal or abandonment of long-lived assets. The Company’s asset retirement obligations are primarily related to the removal of underground gasoline storage tanks and the restoration of its rental facilities. The asset retirement obligations are measured at discounted fair values at the time the liability is incurred. Accretion expense is recognized as an operating expense using the credit-adjusted risk-free interest rate in effect when the liability was recognized. The associated asset retirement obligations are capitalized as part of the carrying amount of the long-lived asset and depreciated over the estimated remaining useful life of the asset. Foreign Currency Translation and Transactions Assets and liabilities of international subsidiaries whose functional currency is the local currency are translated at the rate of exchange in effect on the balance sheet date; income and expenses are translated at the average exchange rates throughout the year. The related translation adjustments are reflected in “Accumulated other comprehensive loss” in the equity section of the Company's consolidated balance sheets. Foreign currency gains and losses resulting from transactions are included in earnings. Advertising Advertising and sales promotion costs are expensed the first time the advertising or sales promotion takes place. Advertising costs are reflected as a component of “Selling, general and administrative” in the Company's consolidated statements of operations and for the years ended December 31, 2015, 2014 and 2013 were $170 million , $199 million , and $207 million , respectively. Concentration of Credit Risk The Company's cash and cash equivalents are invested in various investment grade institutional money market accounts and bank term deposits. Deposits held at banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate such risks by spreading the risk across multiple counterparties and monitoring the risk profiles of these counterparties. In addition, the Company has credit risk from financial instruments used in hedging activities. The Company limits exposure relating to financial instruments by diversifying the financial instruments among various counterparties, which consist of major financial institutions. Recent Accounting Pronouncements Adopted Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity In April 2014, the Financial Accounting Standards Board ("FASB") issued guidance that changes the criteria for reporting discontinued operations. As a result of this guidance, only disposals of a component that represent a strategic shift that have, or will have, a major effect on the Company’s operations and financial results will be reported as a discontinued operation. Expanded disclosures are required for discontinued operations and for individually significant components that do not qualify for discontinued operations reporting. The Company adopted this guidance on January 1, 2015 in accordance with the effective date. Adoption of this new guidance did not impact the Company's financial position, results of operations or cash flows. Not Yet Adopted Revenue from Contracts with Customers In May 2014, the FASB issued guidance that will replace most existing revenue recognition guidance in U.S. GAAP. The new guidance applies to all contracts with customers except for leases, insurance contracts, financial instruments, certain nonmonetary exchanges and certain guarantees. The core principle of the guidance is that an entity should recognize revenue from customers for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The new principles-based revenue recognition model requires an entity to perform five steps: 1) identify the contract(s) with a customer, 2) identify the performance obligations in the contract, 3) determine the transaction price, 4) allocate the transaction price to the performance obligations in the contract, and 5) recognize revenue when (or as) the entity satisfies a performance obligation. Under the new guidance, performance obligations in a contract will be separately identified, which may impact the timing of recognition of the revenue allocated to each obligation. The measurement of revenue recognized may also be impacted by identification of new performance obligations and other provisions, such as collectability and variable consideration. The guidance will impact the Company’s accounting for certain contracts and its Hertz #1 Gold Points liability. Also, additional disclosures are required about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. The new guidance may be adopted on either a full or modified retrospective basis. As issued, the guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those reporting periods. In July 2015, the FASB agreed to defer the effective date of the guidance until annual and interim reporting periods beginning after December 15, 2017. The Company is in the process of determining the method of adoption and assessing the overall impacts of adopting this guidance on its financial position, results of operations and cash flows. Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could be Achieved after the Requisite Service Period In June 2014, the FASB issued guidance that requires that a performance target in a share-based payment award that affects vesting and that can be achieved after the requisite service period is completed is to be accounted for as a performance condition; therefore, compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved, and the amount of compensation cost recognized should be based on the portion of the service period fulfilled. The guidance is effective either prospectively or retrospectively for annual periods beginning after December 15, 2015 and interim periods within those annual periods. The Company has assessed the potential impacts from future adoption of this guidance and has determined that there will be no impact on its financial position, results of operations and cash flows. Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items In January 2

Acquistions and Divestitures

Acquistions and Divestitures	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Acquisitions and Divestitures	Acquisitions and Divestitures Hertz Franchises In February 2015, the Company acquired substantially all of the assets of certain Hertz-branded franchises, including existing fleets and contract and concession rights, for $87 million . The franchises acquired include on airport locations in Indianapolis, South Bend and Fort Wayne, Indiana and in Memphis, Tennessee, as well as several smaller off airport locations. The acquisition was part of a strategic decision to increase the number of Hertz-owned locations and capitalize on certain benefits of ownership not available under a franchise agreement. The acquisition was accounted for utilizing the acquisition method of accounting where the purchase price of the reacquired franchises was allocated based on estimated fair values of the assets acquired and liabilities assumed. The excess of the purchase price over the estimated fair value of the net tangible and intangible assets acquired was recorded as goodwill. The purchase price was allocated as follows: (In millions) U.S. Car Rental Revenue earning equipment $ 71 Property and other equipment 6 Other intangible assets 9 Goodwill 1 Total $ 87 Dollar and Thrifty Franchises In August 2014, the Company acquired substantially all of the assets of certain Dollar and Thrifty franchisees including existing fleets and contract and concession rights for $62 million . The acquisition was part of a strategic decision to increase its Hertz-owned locations and capitalize on certain benefits of ownership not available to the Company under a franchise agreement. The acquisition was accounted for utilizing the acquisition method of accounting where the purchase price of the franchises was allocated based on estimated fair values of the assets acquired and liabilities assumed. The excess of the purchase price over the estimated fair value of the net tangible and intangible assets acquired was recorded as goodwill. The purchase price was allocated as follows: (In millions) U.S. Car Rental Revenue earning equipment $ 43 Property and other equipment 1 Other intangible assets 7 Goodwill 11 Total $ 62 CAR Inc. Investment In 2013, Hertz entered into definitive agreements with CAR Inc. formerly operating as China Auto Rental Holdings, Inc., and related parties pursuant to which Hertz made a strategic investment in CAR Inc., the largest car rental company in China. Pursuant to the transaction, Hertz invested cash and contributed its China Rent-a-Car entities to CAR Inc. In return for its investment, Hertz received common stock in CAR Inc. and convertible debt securities in the amount of $236 million . In April 2014, the Company converted the debt securities into common stock of CAR Inc. In September 2014, CAR Inc. launched its initial public offering ("IPO") on the Hong Kong stock exchange and in conjunction with the IPO, Hertz invested an additional $30 million to purchase equity shares. As a result of the IPO and its additional investment, Hertz owned approximately 16% of CAR Inc. In 2015, the Company monetized a portion of its investment and sold approximately 138 million shares of CAR Inc. common stock, a publicly traded company on the Hong Kong Stock Exchange, for net proceeds of $236 million which resulted in a pre-tax gain of $133 million in the Company's corporate operations and is in cluded in other (income) expense, net in the Company's statement of operations. The sale of the shares reduced the Company's ownership interest to 10.2% . See Note 14 , " Fair Value Measurements ," for the fair value of the Company's ownership interest at December 31, 2015 . Hertz accounts for this investment under the equity method based on its ability to exercise significant influence over CAR Inc. which is determined based on a variety of factors, including the Company's representation on the Board of Directors of CAR Inc. with voting rights. The Company presents this investment within "Prepaid expenses and other assets" in the accompanying consolidated balance sheets. HERC Businesses On October 30, 2015, after negotiations with a third party in the market, the Company sold its HERC France and Spain businesses comprised of 60 locations in France and two in Spain and realized a gain on the sale in the amount of $51 million that was recorded in "Other (income) expense, net" in the Company's statements of operations. A portion of the gain, $42 million , represents the release of currency translation adjustments from accumulated other comprehensive income with the remainder of the gain attributable to the assets and liabilities sold. The businesses were included in the Company's Worldwide Equipment Rental segment.

Revenue Earning Equipment

Revenue Earning Equipment	12 Months Ended
	Dec. 31, 2015
Depreciation of Revenue Earning Equipment and Lease Charges Disclosure [Abstract]
Revenue Earning Equipment	Revenue Earning Equipment The components of revenue earning equipment, net are as follows: December 31, (In millions) 2015 2014 Revenue earning equipment $ 16,768 $ 17,837 Less: Accumulated depreciation (3,775 ) (4,427 ) 12,993 13,410 Revenue earning equipment held for sale, net 135 243 Revenue earning equipment, net $ 13,128 $ 13,653 Depreciation of revenue earning equipment and lease charges, net includes the following: Years Ended December 31, (In millions) 2015 2014 2013 Depreciation of revenue earning equipment $ 2,614 $ 2,787 $ 2,415 (Gain) loss on disposal of revenue earning equipment (a) 76 167 37 Rents paid for vehicles leased 72 80 81 Depreciation of revenue earning equipment and lease charges, net $ 2,762 $ 3,034 $ 2,533 (a) (Gain) loss on disposal of revenue earning equipment by segment is as follows: Years Ended December 31, (In millions) 2015 2014 2013 U.S. Car Rental $ 97 $ 178 $ 48 International Car Rental (8 ) (2 ) 15 Worldwide Equipment Rental (13 ) (9 ) (26 ) Total $ 76 $ 167 $ 37 Depreciation rates are reviewed on a quarterly basis based on management's ongoing assessment of present and estimated future market conditions, their effect on residual values at the time of disposal and the estimated holding periods for the fleet and equipment. The cumulative impact on the years of depreciation rate changes during the years ended December 31, 2015, 2014 and 2013 is as follows: Increase (decrease) Years Ended December 31, (In millions) 2015 2014 2013 U.S. Car Rental $ 101 $ 167 $ (44 ) International Car Rental (1 ) (3 ) 5 Worldwide Equipment Rental 2 — — Total $ 102 $ 164 $ (39 )

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	Goodwill and Other Intangible Assets Goodwill At October 1, 2015 and 2014 , the Company performed its annual goodwill impairment test and determined that no impairment existed for the years ended December 31, 2015 and 2014 . The following summarizes the changes in the Company's goodwill, by segment: (In millions) U.S. Car Rental International Car Rental Worldwide Equipment All Other Operations Total Balance as of January 1, 2015 Goodwill $ 1,025 $ 248 $ 772 $ 35 $ 2,080 Accumulated impairment losses — (46 ) (675 ) — (721 ) 1,025 202 97 35 1,359 Goodwill acquired during the period 3 — — — 3 Other changes during the period (a) — (4 ) (4 ) — (8 ) 3 (4 ) (4 ) — (5 ) Balance as of December 31, 2015 Goodwill 1,028 244 768 35 2,075 Accumulated impairment losses — (46 ) (675 ) — (721 ) $ 1,028 $ 198 $ 93 $ 35 $ 1,354 (In millions) US Car Rental International Car Rental Worldwide Equipment Rental All Other Operations Total Balance as of January 1, 2014 Goodwill $ 1,012 $ 254 $ 772 $ 35 $ 2,073 Accumulated impairment losses — (46 ) (675 ) — (721 ) 1,012 208 97 35 1,352 Goodwill acquired during the period 13 — — — 13 Adjustments to previously recorded purchase price allocation — (1 ) — — (1 ) Other changes during the period (a) — (5 ) — — (5 ) 13 (6 ) — — 7 Balance as of December 31, 2014 Goodwill 1,025 248 772 35 2,080 Accumulated impairment losses — (46 ) (675 ) — (721 ) $ 1,025 $ 202 $ 97 $ 35 $ 1,359 (a) The change in the International Car Rental segment primarily consists of foreign currency adjustments, and the change in 2015 in the Worldwide Equipment Rental segment is due to the sale of HERC France and Spain businesses. Other Intangible Assets At October 1, 2015 , the Company performed its annual test of recoverability of indefinite-lived intangible assets and concluded that there was no impairment. However, during the fourth quarter of 2015, the Company determined that the international trade name associated with the HERC segment was impaired and recorded a charge of $40 million . The impairment was largely due to decisions made by management in the fourth quarter of 2015 regarding the HERC business transition plan and the terms of future use of the HERC international trade name. The charge is included in other (income) expense, net in the Company's statement of operations. Additionally, the Company determined that the international trade name’s adjusted fair value of $4 million should be amortized over its remaining life through the planned date of the HERC separation, and reclassified it to a finite-lived intangible asset. The remaining $266 million attributable to the U.S. portion of the indefinite-lived HERC trade name was also evaluated for recoverability and the Company concluded there was no impairment. Other intangible assets, net, consisted of the following major classes: December 31, 2015 (In millions) Gross Accumulated Net Amortizable intangible assets: Customer-related $ 684 $ (625 ) $ 59 Concession rights 411 (144 ) 267 Technology-related intangibles (a) 308 (152 ) 156 Other (b) 93 (61 ) 32 Total 1,496 (982 ) 514 Indefinite-lived intangible assets: Trade name 3,286 — 3,286 Other (c) 22 — 22 Total 3,308 — 3,308 Total other intangible assets, net $ 4,804 $ (982 ) $ 3,822 At October 1, 2014, the Company determined that the respective carrying values of its indefinite-lived intangible assets did not exceed their estimated fair values and therefore no impairment existed. December 31, 2014 (In millions) Gross Accumulated Net Amortizable intangible assets: Customer-related $ 692 $ (568 ) $ 124 Concession rights 410 (97 ) 313 Technology-related intangibles (a) 338 (147 ) 191 Other (b) 78 (49 ) 29 Total 1,518 (861 ) 657 Indefinite-lived intangible assets: Trade name 3,330 — 3,330 Other (c) 22 — 22 Total 3,352 — 3,352 Total other intangible assets, net $ 4,870 $ (861 ) $ 4,009 (a) Technology-related intangibles include software not yet placed into service. (b) Other amortizable intangible assets primarily include the Donlen trade name and non-compete agreements. (c) Other indefinite-lived intangible assets primarily consist of reacquired franchise rights. Amortization of other intangible assets for the years ended December 31, 2015, 2014 and 2013 was $156 million , $159 million and $151 million , respectively. Based on its amortizable intangible assets as of December 31, 2015 , the Company expects amortization expense to be approximately $115 million in 2016 , $92 million in 2017 , $72 million in 2018 , $71 million in 2019 , $69 million in 2020 and $95 million thereafter.

Debt

Debt	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt	Debt The Company's debt consists of the following (in millions): Facility Weighted Average Interest Rate at December 31, 2015 Fixed or Floating Interest Rate Maturity December 31, December 31, Corporate Debt Senior Term Facility 3.26% Floating 3/2018 $ 2,062 $ 2,083 Senior ABL Facility N/A N/A N/A — 344 Senior Notes (1) 6.58% Fixed 4/2018–10/2022 3,900 3,900 Promissory Notes 7.00% Fixed 1/2028 27 27 Other Corporate Debt 3.93% Fixed Various 66 74 Unamortized Net (Discount) Premium (Corporate) 2 3 Total Corporate Debt 6,057 6,431 Fleet Debt HVF U.S. Fleet Medium Term Notes HVF Series 2009-2 (2) N/A N/A N/A — 404 HVF Series 2010-1 (2) 4.46% Fixed 2/2014–2/2018 240 490 HVF Series 2011-1 (2) 3.51% Fixed 3/2015–3/2017 230 414 HVF Series 2013-1 (2) 1.68% Fixed 8/2016–8/2018 950 950 1,420 2,258 RCFC U.S. ABS Program RCFC Series 2011-1 Notes (2)(3) N/A N/A N/A — 167 RCFC Series 2011-2 Notes (2)(3) N/A N/A N/A — 266 — 433 HVF II U.S. ABS Program HVF II U.S. Fleet Variable Funding Notes: HVF II Series 2013-A 1.27% Floating 10/2017 980 1,999 HVF II Series 2013-B 1.32% Floating 10/2017 1,308 976 HVF II Series 2014-A 1.78% Floating 10/2016 1,737 869 4,025 3,844 HVF II U.S. Fleet Medium Term Notes HVF II Series 2015-1 (2) 2.93% Fixed 3/2020 780 — HVF II Series 2015-2 (2) 2.30% Fixed 9/2018 250 — HVF II Series 2015-3 (2) 2.96% Fixed 9/2020 350 — 1,380 — Donlen ABS Program HFLF Variable Funding Notes HFLF Series 2013-2 Notes (2) 1.19% Floating 9/2017 370 247 370 247 HFLF Medium Term Notes HFLF Series 2013-3 Notes (2) 0.98% Floating 9/2016–11/2016 270 500 HFLF Series 2014-1 Notes (2) 0.85% Floating 12/2016–3/2017 288 400 HFLF Series 2015-1 Notes (2) 0.96% Floating 3/2018–5/2018 295 — Facility Weighted Average Interest Rate at December 31, 2015 Fixed or Floating Interest Rate Maturity December 31, December 31, 853 900 Other Fleet Debt U.S. Fleet Financing Facility 2.95% Floating 3/2017 190 164 European Revolving Credit Facility 2.55% Floating 10/2017 273 304 European Fleet Notes 4.38% Fixed 1/2019 464 517 European Securitization (2) 1.54% Floating 10/2017 267 270 Canadian Securitization (2) 1.78% Floating 1/2018 148 — Hertz-Sponsored Canadian Securitization (2) N/A N/A N/A — 105 Dollar Thrifty-Sponsored Canadian Securitization (2)(3) N/A N/A N/A — 40 Australian Securitization (2) 3.80% Floating 12/2016 98 112 Brazilian Fleet Financing Facility 17.94% Floating 4/2016 7 11 Capitalized Leases 2.67% Floating 2/2015–10/2017 362 364 Unamortized Net (Discount) Premium (Fleet) (7 ) (7 ) 1,802 1,880 Total Fleet Debt 9,850 9,562 Total Debt $ 15,907 $ 15,993 N/A - Not Applicable (1) References to the Company's "Senior Notes" include the series of Hertz's unsecured senior notes set forth in the table below. The outstanding principal amount for each such series of the Senior Notes is also specified below. (In millions) Outstanding Principal Senior Notes December 31, 2015 December 31, 2014 4.25% Senior Notes due April 2018 $ 250 $ 250 7.50% Senior Notes due October 2018 700 700 6.75% Senior Notes due April 2019 1,250 1,250 5.875% Senior Notes due October 2020 700 700 7.375% Senior Notes due January 2021 500 500 6.25% Senior Notes due October 2022 500 500 $ 3,900 $ 3,900 (2) Maturity reference is to the "expected final maturity date" as opposed to the subsequent "legal maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness expect the relevant indebtedness to be repaid, which in the case of the HFLF Medium Term Notes was based upon various assumptions made at the time of the pricing of such notes. The legal final maturity date is the date on which the relevant indebtedness is legally due and payable. (3) RCFC U.S. ABS Program and the Dollar Thrifty-Sponsored Canadian Securitization represent fleet debt assumed in connection with the Dollar Thrifty acquisition in 2012. Maturities The nominal amounts of maturities of debt for each of the twelve-month periods ending December 31 are as follows: (In millions) 2016 2017 2018 2019 2020 After 2020 Corporate Debt $ 33 $ 34 $ 2,981 $ 1,257 $ 703 $ 1,047 Fleet Debt 3,101 3,699 1,356 571 1,130 — Total $ 3,134 $ 3,733 $ 4,337 $ 1,828 $ 1,833 $ 1,047 The Company is highly leveraged and a substantial portion of its liquidity needs arise from debt service on its indebtedness and from the funding of its costs of operations, acquisitions and capital expenditures. The Company’s practice is to maintain sufficient liquidity through cash from operations, credit facilities and other financing arrangements, so that its operations are unaffected by adverse financial market conditions. Corporate Debt Senior Credit Facilities Senior Term Facility: In March 2011, Hertz entered into a credit agreement that initially provided for a $1,400 million term loan (as amended, the "Senior Term Facility"). In addition, the Senior Term Facility includes a separate incremental pre-funded synthetic letter of credit facility in an aggregate principal amount of $200 million . Subject to the satisfaction of certain conditions and limitations, the Senior Term Facility allows for the incurrence of incremental term and/or revolving loans. In October 2012, Hertz entered into an Incremental Commitment Amendment to the Senior Term Facility which provided for commitments for term loans of up to $750 million (the "Incremental Term Loans") under the Senior Term Facility. Contemporaneously with the consummation of the Dollar Thrifty acquisition, the Incremental Term Loans were fully drawn and the proceeds therefrom were used in connection with funding the Dollar Thrifty acquisition. The Incremental Term Loans are secured by the same collateral and guaranteed by the same guarantors as the term loans under the Senior Term Facility and all such loans mature in March 2018. In April 2013, Hertz entered into an Amendment No. 2 ("Amendment No. 2") to the Senior Term Facility, primarily to reduce the interest rate applicable to a portion of the outstanding term loans under the Senior Term Facility. Pursuant to Amendment No. 2, certain of the existing lenders under the Senior Term Facility converted their existing Tranche B Term Loans into tranche B-2 term loans (the “Tranche B-2 Term Loans”), in an aggregate principal amount, along with new loans advanced by certain new lenders, of approximately $1,372 million . The proceeds of Tranche B-2 Term Loans advanced by the new lenders were used to prepay in full all of the Tranche B Term Loans that were not converted into Tranche B-2 Term Loans. Except as described below, the Tranche B-2 Term Loans bear interest at a floating rate measured by reference to, at Hertz's option, either (i) an adjusted London Inter-Bank Offered Rate ("LIBOR") not less than 0.75% plus a borrowing margin of 2.25% per annum or (ii) an alternate base rate plus a borrowing margin of 1.25% per annum. The terms and conditions of the new Tranche B-2 Term Loans with respect to maturity, collateral, and covenants are otherwise unchanged compared to the Tranche B Term Loans. Senior ABL Facility : In March 2011, Hertz, HERC, and certain other of its subsidiaries entered into a credit agreement that initially provided for aggregate maximum borrowings of $1,800 million (subject to borrowing base availability) on a revolving basis under an asset-based revolving credit facility (as amended the “Senior ABL Facility”) Up to $1,500 million of the Senior ABL Facility was initially available for the issuance of letters of credit, subject to certain conditions including issuing lender participation. Subject to the satisfaction of certain conditions and limitations, the Senior ABL Facility allows for the addition of incremental revolving and/or term loan commitments. In July 2013, the Company increased the aggregate maximum borrowings under the Senior ABL Facility by $65 million (subject to borrowing base availability). In October 2014, Hertz entered into an agreement to amend certain terms of the Senior ABL Facility. The amendment, among other things (i) extends the commitment period of $1,668 million of aggregate maximum borrowing capacity under the Senior ABL Facility to March 2017, with the remaining $198 million of aggregate maximum borrowing capacity under the Senior ABL Facility, expiring, as previously scheduled, in March 2016 and (ii) provides for an increase in aggregate maximum borrowing capacity under the Senior ABL Facility of $235 million , such that (a) prior to March 2016, aggregate maximum borrowing capacity will be $2,100 million and (b) after March 2016, aggregate maximum borrowing capacity will be $1,903 million (in each case, subject to borrowing base availability). The Company refers to the Senior Term Facility and the Senior ABL Facility together as the “Senior Credit Facilities.” Hertz's obligations under the Senior Credit Facilities are guaranteed by its immediate parent (Hertz Investors, Inc.) and certain of its direct and indirect U.S. subsidiaries (subject to certain exceptions, including Hertz International Limited, which ultimately owns entities carrying on most of its international operations, and subsidiaries involved in the HVF U.S. Asset-Backed Securities ("ABS") Program, the HVF II U.S. ABS Program, the Donlen ABS Program and the RCFC U.S. ABS Program). In addition, the obligations of the “Canadian borrowers” under the Senior ABL Facility are guaranteed by their respective subsidiaries, subject to certain exceptions. The lenders under the Senior Credit Facilities have been granted a security interest in substantially all of the tangible and intangible assets of the borrowers and guarantors under those facilities, including pledges of the stock of certain of their respective U.S. subsidiaries (subject, in each case, to certain exceptions, including certain vehicles). Each of the Senior Credit Facilities permits the incurrence of future indebtedness secured on a basis either equal to or subordinated to the liens securing the applicable Senior Credit Facility or on an unsecured basis. In February 2013 and March 2013, the Company added Dollar Thrifty and certain of its subsidiaries as guarantors under certain of its debt instruments and credit facilities, including the Senior Term Facility and in February 2014 and December 2015, the Company added Firefly Rent A Car LLC and Rental Car Group Company, LLC, respectively, as guarantors under certain of its debt instruments and credit facilities, including the Senior Term Facility. The Company refers to Hertz and its subsidiaries as the Hertz credit group. The Senior Credit Facilities contain a number of covenants that, among other things, limit or restrict the ability of the Hertz credit group to dispose of assets, incur additional indebtedness, incur guarantee obligations, prepay certain indebtedness, make dividends and other restricted payments (including to the parent entities of Hertz and other persons), create liens, make investments, make acquisitions, engage in mergers, change the nature of their business, engage in certain transactions with affiliates that are not within the Hertz credit group or enter into certain restrictive agreements limiting the ability to pledge assets. Under the Senior ABL Facility, failure to maintain certain levels of liquidity will subject the Hertz credit group to a contractually specified fixed charge coverage ratio of not less than 1 :1 for the four quarters most recently ended. As of December 31, 2015 , the Company was not subject to such contractually specified fixed charge coverage ratio. Covenants in the Senior Term Facility restrict payment of cash dividends to any parent of Hertz, including Hertz Holdings, with certain exceptions, including: (i) in an aggregate amount not to exceed 1% of the greater of a specified minimum amount and the consolidated tangible assets of the Hertz credit group (which payments are deducted in determining the amount available as described in the next clause (ii)), (ii) in additional amounts up to a specified available amount determined by reference to, among other things, an amount set forth in the Senior Term Facility plus 50% of net income from January 1, 2011 to the end of the most recent fiscal quarter for which financial statements of Hertz are available (less certain investments) and (iii) in additional amounts not to exceed the amount of certain equity contributions made to Hertz. Covenants in the Senior ABL Facility restrict payment of cash dividends to any parent of Hertz, including Hertz Holdings, except in an aggregate amount, taken together with certain investments, acquisitions and optional prepayments, not to exceed $200 million . Hertz may also pay additional cash dividends under the Senior ABL Facility so long as, among other things, (a) no specified default then exists or would arise as a result of making such dividends, (b) there is at least $200 million of liquidity under the Senior ABL Facility after giving effect to the proposed dividend, and (c) either (i) if such liquidity is less than $400 million immediately after giving effect to the making of such dividends, Hertz is in compliance with a specified fixed charge coverage ratio, or (ii) the amount of the proposed dividend does not exceed the sum of (x) 1% of tangible assets plus (y) a specified available amount determined by reference to, among other things, 50% of net income from January 1, 2011 to the end of the most recent fiscal quarter for which financial statements of Hertz are available plus (z) a specified amount of certain equity contributions made to Hertz. Senior Notes In September 2010, Hertz issued $700 million aggregate principal amount of the 7.50% Senior Notes due 2018, in December 2010, Hertz issued $500 million aggregate principal amount of the 7.375% Senior Notes due 2021, in February 2011, Hertz issued $1,000 million aggregate principal amount of the 6.75% Senior Notes due 2019, and in March 2012, Hertz issued an additional $250 million aggregate principal amount of the 6.75% Senior Notes due 2019. In October 2012, HDTFS, Inc., a newly-formed, wholly-owned subsidiary of Hertz issued and sold $700 million aggregate principal amount of 5.875% Senior Notes due 2020 and $500 million aggregate principal amount of 6.250% Senior Notes due 2022 in a private offering. The gross proceeds of the offering were held in an escrow account until the date of the completion of the acquisition of Dollar Thrifty, at which time the gross proceeds of the offering were released from escrow and HDTFS, Inc. was merged into Hertz. In March 2013, Hertz issued $250 million in aggregate principal amount of 4.25% Senior Notes due 2018. The proceeds of this March 2013 offering were used by Hertz to replenish a portion of its liquidity, after having dividended $467 million in available liquidity to Hertz Holdings, which was used to repurchase 23 million shares of Hertz Holdings common stock. Hertz's obligations under the indentures for the Senior Notes are guaranteed by each of its direct and indirect U.S. subsidiaries that are guarantors under the Senior Term Facility. The guarantees of all of the Subsidiary Guarantors may be released to the extent such subsidiaries no longer guarantee the Company's Senior Credit Facilities in the U.S. HERC may also be released from its guarantee under the outstanding Senior Notes at any time at which no event of default under the related indenture has occurred and is continuing, notwithstanding that HERC may remain a subsidiary of Hertz. In February 2013 and March 2013, the Company added Dollar Thrifty and certain of its subsidiaries as guarantors under certain of its debt instruments and credit facilities including the Senior Notes and in February 2014 and December 2015, the Company added Firefly Rent A Car LLC and Rental Car Group Company, LLC as guarantors under certain of its debt instruments and credit facilities, including the Senior Notes. The indentures for the Senior Notes contain covenants that, among other things, limit or restrict the ability of the Hertz credit group to incur additional indebtedness, incur guarantee obligations, prepay certain indebtedness, make certain restricted payments (including paying dividends, redeeming stock or making other distributions to parent entities of Hertz and other persons outside of the Hertz credit group), make investments, create liens, transfer or sell assets, merge or consolidate, and enter into certain transactions with Hertz's affiliates that are not members of the Hertz credit group. These covenants also restrict Hertz Holdings and certain of its subsidiaries from redeeming stock or making loans, advances, dividends, distributions or other restricted payments to any entity that is not a member of the Hertz credit group, subject to certain exceptions. Promissory Notes References to the Company's “Promissory Notes” relate to its promissory notes issued under three separate indentures prior to the acquisition of all of Hertz's common stock on December 21, 2005, by the Sponsors. Fleet Debt The governing documents of certain of the fleet debt financing arrangements specified below contain covenants that, among other things, significantly limit or restrict (or upon certain circumstances may significantly restrict or prohibit) the ability of the borrowers, and the guarantors if applicable, to make certain restricted payments (including paying dividends, redeeming stock, making other distributions, loans or advances) to Hertz Holdings and Hertz, whether directly or indirectly. HVF II U.S. ABS Program In November 2013, Hertz established a securitization platform, the HVF II U.S. ABS Program, designed to facilitate its financing activities relating to the vehicle fleet used by Hertz in the U.S. daily car rental operations of its Hertz, Dollar, Thrifty and Firefly brands. Hertz Vehicle Financing II LP, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Hertz ("HVF II") is the issuer under the HVF II U.S. ABS Program. HVF II has entered into a base indenture that permits it to issue term and revolving rental car asset-backed securities, secured by one or more shared or segregated collateral pools consisting primarily of portions of the rental car fleet used in its U.S. car rental operations and contractual rights related to such vehicles that have been allocated as the ultimate indirect collateral for HVF II's financings. HVF II uses proceeds from its note issuances to make loans to Hertz Vehicle Financing LLC ("HVF") pursuant to the HVF Series 2013-G1 Supplement (the “HVF Series 2013-G1 Notes”) and Rental Car Finance Corp. ("RCFC") pursuant to the RCFC Series 2010-3 Supplement (the "RCFC Series 2010-3 Notes"), in each case on a continuing basis. The assets of HVF II and HVF II GP Corp. are owned by HVF II and HVF II GP Corp., respectively, and are not available to satisfy the claims of Hertz’s general creditors. References to the “HVF II U.S. ABS Program” include HVF II’s U.S. Fleet Variable Funding Notes and HVF II U.S. Fleet Medium Term Notes. HVF II U.S. Fleet Variable Funding Notes References to the “HVF II U.S. Fleet Variable Funding Notes” include the HVF II Series 2013-A Notes, the HVF II Series 2013-B Notes and the HVF II Series 2014-A Notes. In connection with the establishment of the HVF II U.S. ABS Program, HVF II executed a $3,175 million committed financing arrangement, allocated between the HVF II Series 2013-A Notes and the HVF II Series 2013-B Notes, each of which ultimately are backed by segregated collateral pools. The initial aggregate maximum principal amount of the HVF II Series 2013-A Notes was $2,575 million (subject to borrowing base availability). The initial aggregate maximum principal amount of the HVF II Series 2013-B Notes was $600 million (subject to borrowing case availability). At inception, the HVF II Series 2013-A Notes allowed for approximately $900 million of aggregate maximum principal amount of such notes to be transitioned to the aggregate maximum principal amount of HVF II Series 2013-B Notes and the HVF II Series 2013-B Notes allowed for all of the aggregate maximum principal amount of such notes to be transitioned to the HVF II Series 2013-A Notes (in each case, subject to borrowing base availability). The net proceeds from the initial sale of the HVF II Series 2013-A Notes were used to refinance nearly all of the outstanding Series 2009-1 Variable Funding Rental Car Asset-Backed Notes previously issued by HVF, the collateral for which consisted primarily of a substantial portion of the rental car fleet used in Hertz’s and certain of its subsidiaries’ U.S. car rental operations. No commitments remain available under the HVF Series 2009-1 Notes and there are no longer any HVF Series 2009-1 Notes outstanding. The net proceeds from the initial sale of the HVF II Series 2013-B Notes were used to refinance the Series 2010-3 Variable Funding Rental Car Asset-Backed Notes previously issued by RCFC, the collateral for which consisted primarily of a substantial portion of the rental car fleet used in Dollar Thrifty’s and certain of its affiliates’ U.S. car rental operations. In July 2014, HVF II executed a $1,000 million committed financing arrangement, the “Series 2014-A Variable Funding Rental Car Asset-Backed Notes," or the “HVF II Series 2014-A Notes”, backed by the same collateral pool that supports the HVF II Series 2013-A Notes. The initial aggregate maximum principal amount of the HVF II Series 2014-A Notes was $1,000 million (subject to borrowing base availability). In October 2014, HVF II entered into various agreements to amend certain terms of the HVF II Series 2013-A Notes and the HVF II Series 2013-B Notes. The amendments, among other things, extended the maturity of each facility to October 2016. In addition, HVF II transitioned $250 million of commitments available under the HVF II Series 2013-A Notes to the HVF II Series 2013-B Notes, such that after giving effect to such transitions the aggregate maximum principal amount of the HVF II Series 2013-A Notes and the HVF II Series 2013-B Notes were $2,447 million and $878 million , respectively (in each case, subject to borrowing base availability). Also in October 2014, HVF II amended the terms of its HVF II Series 2014-A Notes, originally issued in July 2014, to provide for, among other things, (i) an extension of the maturity of the HVF II Series 2014-A Notes to October 2016 and (ii) an increase in aggregate maximum borrowing capacity under the HVF II Series 2014-A Notes from $1,000 million to $3,250 million (subject to borrowing base availability). The HVF II Series 2014-A Notes contain a commitment step-up feature that increased borrowing capacity from $1,000 million to $3,250 million (subject to borrowing base availability) by February 2015. Additionally, the HVF II Series 2014-A Notes contain provisions requiring the commitments to be terminated based on the volume of specified debt issued by Hertz or certain of its subsidiaries. These mandatory commitment termination provisions do not apply until at least $1,500 million of such specified debt has been issued. In December 2014, HVF II transitioned approximately $147 million of commitments available under the HVF II Series 2013-A Notes to the HVF II Series 2013-B Notes, such that after giving effect to such transition the aggregate maximum principal amount of the HVF II Series 2013-A Notes and the HVF II Series 2013-B Notes were $2,300 million and $1,025 million , respectively (in each case, subject to borrowing base availability). In February 2015, HVF II transitioned approximately $475 million of commitments available under the HVF II Series 2013-A Notes to the HVF II Series 2013-B Notes, such that after giving effect to such transition the aggregate maximum principal amount of the HVF II Series 2013-A Notes and the HVF II Series 2013-B Notes were $1,825 million and $1,500 million , respectively (in each case, subject to borrowing base availability). In December 2015, HVF II entered into various amendment agreements pursuant to which certain terms of the HVF II Series 2013-A Notes, the HVF II Series 2013-B Notes, and the HVF II Series 2014-A Notes were amended. The amendments, among other things, extended the maturity of the HVF II Series 2013-A Notes and the HVF II Series 2013-B Notes from October 2016 to October 2017 and, for each of the HVF II Series 2013-A Notes, the HVF II Series 2013-B Notes, and the HVF II Series 2014-A Notes, facilitated the issuance of a new class of notes (the “HVF II Series 2013-A Class B Notes”, the “HVF II Series 2013-B Class B Notes” and the “HVF II Series 2014-A Class B Notes”, and together, the “HVF II VFN Class B Notes”), each of which is subordinate to the previously outstanding Class A Notes of such series and permit aggregate maximum borrowings of $150 million (subject to borrowing base availability) with respect to such HVF II VFN Class B Notes. The amendments also reduced the aggregate maximum borrowing capacity with respect to the previously outstanding HVF II Series 2013-A Notes, HVF II Series 2013-B Notes, and HVF II Series 2014-A Notes by $150 million , such that the aggregate maximum borrowing capacity under the Series 2013-A Notes, the HVF II Series 2013-B Notes, and the HVF II Series 2014-A Notes, as amended for and after giving effect to the issuance of the HVF II VFN Class B Notes, remains unchanged. HVF II U.S. Fleet Medium Term Notes In April 2015, HVF II issued the Series 2015-1 Rental Car Asset-Backed Notes, Class A, Class B, and Class C (collectively, the “HVF II Series 2015-1 Notes”) in an aggregate principal amount of $780 million . The expected maturity of the HVF II Series 2015-1 Notes is March 2020. The HVF II Series 2015-1 Notes are comprised of $622 million aggregate principal amount of 2.73% Rental Car Asset-Backed Notes, Class A, $119 million aggregate principal amount of 3.52% Rental Car Asset-Backed Notes, Class B, and $39 million aggregate principal amount of 4.35% Rental Car Asset-Backed Notes, Class C. The net proceeds from the sale of the HVF II Series 2015-1 Notes were used (i) to repay a portion of the outstanding principal amount of HVF II's Series 2013-A Notes and HVF II's Series 2014-A Notes and (ii) to make loans to HVF for HVF to acquire or refinance vehicles to be leased to the Company or Dollar Thrifty for use in their daily rental operations. In October 2015, HVF II issued the Series 2015-2 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D (collectively, the “HVF II Series 2015-2 Notes”) and Series 2015-3 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D (collectively, the “HVF II Series 2015-3 Notes”) in an aggregate principal amount of $636 million . The expected maturities of the HVF II Series 2015-2 Notes and the HVF II Series 2015-3 Notes are September 2018 and September 2020, respectively. The HVF II Series 2015-2 Notes are comprised of approximately $190 million aggregate principal amount of 2.02% Rental Car Asset Backed Notes, Class A, $46 million aggregate principal amount of 2.96% Rental Car Asset Backed Notes, Class B, $14 million aggregate principal amount of 3.95% Rental Car Asset Backed Notes, Class C and $15 million aggregate principal amount of 4.93% Rental Car Asset Backed Notes, Class D. The HVF II Series 2015-3 Notes are comprised of approximately $265 million aggregate principal amount of 2.67% Rental Car Asset Backed Notes, Class A, $65 million aggregate principal amount of 3.71% Rental Car Asset Backed Notes, Class B, $20 million aggregate principal amount of 4.44% Rental Car Asset Backed Notes, Class C and $21 million aggregate principal amount of 5.33% Rental Car Asset Backed Notes, Class D. An affiliate of HVF II purchased the Class D Notes of each such series, therefore, $36 million of the obligation is eliminated in consolidation. The net proceeds from the sale of the HVF II Series 2015-2 Notes and HVF II Series 2015-3 Notes were used (i) to repay a portion of the outstanding principal amount of HVF II's Series 2013-A Notes and HVF II's Series 2014-A Notes and (ii) to make loans to Hertz Vehicle Financing LLC, a wholly owned special purpose subsidiary of the Company, to acquire or refinance vehicles. See Note 21 , " Subsequent Events ," regarding additional issuances of HVF II U.S. Fleet Medium Term Notes. HVF U.S. Fleet ABS Program HVF, a bankruptcy remote, direct, wholly-owned, special purpose subsidiary of Hertz, is the issuer under the HVF U.S. ABS Program. HVF has entered into a base indenture that permits it to issue term and revolving rental car asset-backed securities, secured by one or more shared or segregated collateral pools consisting primarily of a substantial portion of the rental car fleet used in its U.S. car rental operations and contractual rights related to such vehicles that have been allocated as collateral for HVF's financings. Prior to the establishment of the HVF II financing platform, the HVF U.S. ABS Program served as Hertz's primary rental car securitization platform in the U.S. References to the “HVF U.S. ABS Program” include HVF's U.S. Fleet Variable Funding Notes together with HVF's U.S. Fleet Medium Term Notes. HVF U.S. Fleet Variable Funding Notes References to the “HVF U.S. Fleet Variable Funding Notes” include HVF's Series 2009-1 Variable Funding Rental Car Asset-Backed Notes, as amended (the “HVF Series 2009-1 Notes"). In May and August 2013, HVF amended the HVF Series 2009-1 Notes to permit aggregate maximum borrowings of $2,739 million (subject to borrowing base availability) and to extend the expected final maturity date to June 2014, respectively. In November 2013, the net proceeds from the sale of the HVF II Series 2013-A Notes were used to refinance nearly all of the outstanding HVF Series 2009-1 Notes. In connection therewith, HVF amended the HVF Series 2009-1 Notes to permit aggregate maximum borrowings of $150 million (subject to borrowing base availability). In December 2013, HVF amended the HVF Series 2009-1 Notes primarily to conform the terms thereof to the terms of HVF II’s Series 2013-A Notes. In July 2014, the remaining $150 million of commitments available under the HVF Series 2009-1 Notes were transitioned to the HVF II U.S. ABS Program, with approximately $122 million of such commitments allocated to the HVF II Series 2013-A Notes and $28 million of such commitments allocated to the HVF II Series 2013-B Notes, such that after giving effect to such transition the aggregate maximum principal amount of the HVF II Series 2013-A Notes and the HVF II Series 2013-B Notes were $2,697 million and $628 million , respectively (in each case, subject to borrowing base availability.) No commitments remain available under the HVF Series 2009-1 Notes and there are no longer any HVF Series 2009-1 Notes outstanding. HVF U.S. Fleet Medium Term Notes References to the “HVF U.S. Fleet Medium Term Notes” include HVF's Series 2009-2 Notes, Series 2010-1 Notes, Series 2011-1 Notes and Series 2013-1 Notes, collectively. HVF Series 2009-2 Notes: In October 2009, HVF issued the Series 2009-2 Rental Car Asset Back Notes, Class A (the “HVF Series 2009-2 Class A Notes”) in an aggregate original principal amount of $1,200 million . In June 2010, HVF issued the Subordinated Series 2009-2 Rental Car Asset-Backed Notes, Class B (the “HVF Series 2009-2 Class B Notes”) and together with the Series 2009-2 Class A (the “HVF Series 2009-2 Notes”) in an aggregate original principal amount of $184 million . In 2015, the HVF Series 2009-1 Notes were paid in full as scheduled in accordance with their terms. HVF Series 2010-1 Notes: In July 2010, HVF issued the Series 2010-1 Rental Car Asset-Backed Notes (the “HVF Series 2010-1 Notes”) in an aggregate original principal amount of $750 million . HVF Series 2011-1 Notes: In June 2011, HVF issued the Series 2011-1 Rental Car Asset-Backed Notes (the “HVF Series 2011-1 Notes”) in an aggregate original principal amount of $598 million . HVF Series 2013-1 Notes : In January 2013, HVF issued $950 million in an aggregate original principal amount of three year and five year Series 2013-1 Rental Car Backed Notes, Class A and Class B (collectively, the "HVF Series 2013-1 Notes"). RCFC U.S. ABS Program RCFC became a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Hertz when Hertz acquired Dollar Thrifty. RCFC is the issuer under the RCFC U.S. ABS Program. RCFC has entered into a base indenture that permits it to issue term and revolving rental car asset-backed securities secured by one or more shared or segregated collateral pools consisting primarily of portions of the rental car fleet used in Hertz's, Dollar Thrifty's and Firefly's

Employee Retirement Benefits

Employee Retirement Benefits	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Employee Retirement Benefits	Employee Retirement Benefits Qualified U.S. employees, after completion of specified periods of service, are eligible to participate in The Hertz Corporation Account Balance Defined Benefit Pension Plan (the “Hertz Retirement Plan”) a cash balance plan. Under this qualified Hertz Retirement Plan, the Company pays the entire cost and employees are not required to contribute. Some of its international subsidiaries have defined benefit retirement plans or participate in various insured or multiemployer plans. In certain countries, when the subsidiaries make the required funding payments, they have no further obligations under such plans. Company plans are generally funded, except for certain nonqualified U.S. defined benefit plans and in Germany and France, where unfunded liabilities are recorded. The Company also sponsors defined contribution plans for certain eligible U.S. and non-U.S. employees, where contributions are matched based on specific guidelines in the plans. Effective December 31, 2014, the Company amended the Hertz Retirement Plan to permanently discontinue future benefit accruals and participation under the plan for non-union employees. Compensation credits will no longer be provided under the Hertz Retirement Plan after 2014 for affected participants. Interest credits will continue to be credited on existing participant account balances under the plan until benefits are distributed and service will continue to be recognized for vesting and retirement eligibility requirements. In connection with the freezing of the Hertz Retirement Plan, the Company plans to increase employer contributions under the Company’s qualified 401(k) savings plan (the “401(k) Plan”). Effective January 1, 2015, eligible participants under the 401(k) Plan will receive a matching employer contribution to their 401(k) Plan account equal to (i) 100% of the first 3% of employee contributions made by such participant and (ii) 50% of the next 2% of employee contributions, with the total amount of such matching employer contribution to be completely vested, subject to applicable limits under the United States Internal Revenue Code. Certain eligible participants under the 401(k) Plan will also receive additional employer contribution amounts to their 401(k) Plan account depending on their years of service and age. The Company reserves the right to change its benefit offerings, at any time, at its discretion. On October 22, 2014, the Company amended two non-qualified, unfunded pension plans. These two plans are The Hertz Corporation Benefit Equalization Plan (“BEP”) and The Hertz Corporation Supplemental Executive Retirement Plan ("SERP II”). Effective as of December 31, 2014, the Company permanently discontinued future benefit accruals and participation under the BEP and the SERP II. Service will continue to be recognized for vesting and retirement eligibility requirements under the BEP and SERP II. Effective January 1, 2014, the Hertz Retirement Plan was amended to provide a maximum annual compensation credit equal to 5% of eligible compensation paid to all plan members who are hired or rehired before January 1, 2014, unless as of December 31, 2013 the member has at least 120 months of continuous service, in which case the member continues with an annual credit of 6.5% . All Hertz employees who are hired on or after January 1, 2014 and Dollar Thrifty employees who become plan members on or after January 1, 2014 were eligible for a flat 3% annual compensation credit, regardless of the member's number of months of continuous service. The Company also sponsors postretirement health care and life insurance benefits for a limited number of employees with hire dates prior to January 1, 1990. The postretirement health care plan is contributory with participants' contributions adjusted annually. An unfunded liability is recorded. The Company also has a key officer postretirement car benefit plan that provides the use of a vehicle for retired Executive Vice Presidents and above who have a minimum of 20 years of service and who retired at age 58 or above. The assigned car benefit is available for 15 years postretirement or until the participant reaches the age of 80 , whichever occurs last. The following tables set forth the funded status and the net periodic pension cost of the Hertz Retirement Plan and other U.S. based retirement plans, other postretirement benefit plans including health care and life insurance plans covering domestic (“U.S.”) employees and the retirement plans for international operations (“Non-U.S.”), together with amounts included in its consolidated balance sheets and statements of operations: Pension Benefits Postretirement U.S. Non-U.S. Benefits (U.S.) (In millions) 2015 2014 2015 2014 2015 2014 Change in Benefit Obligation Benefit obligation at January 1 $ 726 $ 671 $ 274 $ 243 $ 15 $ 16 Service cost 3 28 1 2 — — Interest cost 27 31 8 10 1 — Employee contributions — — — — — 1 Plan curtailments (1 ) (42 ) — — — — Plan settlements (21 ) (11 ) (6 ) — — — Benefits paid (29 ) (23 ) (5 ) (5 ) (1 ) (2 ) Foreign exchange translation — — (16 ) (22 ) — — Actuarial loss (gain) (18 ) 72 (22 ) 46 — — Other — — 1 — — — Benefit obligation at December 31 $ 687 $ 726 $ 235 $ 274 $ 15 $ 15 Change in Plan Assets Fair value of plan assets at January 1 $ 619 $ 563 $ 212 $ 207 $ — $ — Actual return on plan assets (16 ) 55 4 19 — — Company contributions 22 35 5 5 1 1 Employee contributions — — — — — 1 Plan settlements (21 ) (11 ) (6 ) — — — Benefits paid (29 ) (23 ) (5 ) (5 ) (1 ) (2 ) Foreign exchange translation — — (10 ) (14 ) — — Fair value of plan assets at December 31 $ 575 $ 619 $ 200 $ 212 $ — $ — Funded Status of the Plan Plan assets less than benefit obligation $ (112 ) $ (107 ) $ (35 ) $ (62 ) $ (15 ) $ (15 ) Pension Benefits Postretirement U.S. Non-U.S. Benefits (U.S.) (In millions) 2015 2014 2015 2014 2015 2014 Amounts recognized in balance sheet: Prepaid expenses and other assets $ — $ — $ 29 $ — $ — $ — Accrued liabilities $ (112 ) $ (107 ) $ (64 ) $ (62 ) $ (15 ) $ (15 ) Net obligation recognized in the balance sheet $ (112 ) $ (107 ) $ (35 ) $ (62 ) $ (15 ) $ (15 ) Prior service credit $ 1 $ 2 $ — $ — $ — $ — Net gain (loss) (128 ) (97 ) (33 ) (50 ) 1 1 Accumulated other comprehensive gain (loss) (127 ) (95 ) (33 ) (50 ) 1 1 Funded/(Unfunded) accrued pension or postretirement benefit 15 (12 ) (2 ) (12 ) (16 ) (16 ) Net obligation recognized in the balance sheet $ (112 ) $ (107 ) $ (35 ) $ (62 ) $ (15 ) $ (15 ) Total recognized in other comprehensive (income) loss $ 31 $ 14 $ (17 ) $ 38 $ — $ — Total recognized in net periodic benefit cost and other comprehensive (income) loss $ 27 $ 33 $ (20 ) $ 35 $ 1 $ 1 Estimated amounts that will be amortized from accumulated other comprehensive (income) loss over the next fiscal year: Net loss $ (8 ) $ (2 ) $ — $ (2 ) $ — $ — Accumulated Benefit Obligation at December 31 $ 683 $ 720 $ 234 $ 272 N/A N/A Weighted-average assumptions as of December 31 Discount rate 4.3 % 3.9 % 3.6 % 4.4 % 4.2 % 3.6 % Expected return on assets 7.2 % 7.4 % 6.1 % 7.4 % — % — % Average rate of increase in compensation 4.3 % 4.0 % 2.6 % 2.6 % — % — % Initial health care cost trend rate N/A N/A N/A N/A 6.9 % 7.3 % Ultimate health care cost trend rate N/A N/A N/A N/A 4.5 % 4.5 % Number of years to ultimate trend rate N/A N/A N/A N/A 23 15 N/A - Not applicable The discount rate used to determine the December 31, 2015 benefit obligations for U.S. pension plans is based on the rate from the Mercer Pension Discount Curve-Above Mean Yield that is appropriate for the duration of the Company's plan liabilities. For its plans outside the U.S., the discount rate reflects the market rates for an optimized subset of high-quality corporate bonds currently available. The discount rate in a country was determined based on a yield curve constructed from high quality corporate bonds in that country. The rate selected from the yield curve has a duration that matches its plan. The expected return on plan assets for each funded plan is based on expected future investment returns considering the target investment mix of plan assets. The following table sets forth the net periodic pension and postretirement (including health care, life insurance and auto) expense: Pension Benefits Postretirement U.S. Non-U.S. Years Ended December 31, (In millions) 2015 2014 2013 2015 2014 2013 2015 2014 2013 Components of Net Periodic Service cost $ 3 $ 28 $ 27 $ 1 $ 2 $ 3 $ — $ — $ — Interest cost 27 31 28 8 10 9 1 1 1 Expected return on plan assets (40 ) (40 ) (36 ) (15 ) (15 ) (13 ) — — — Net amortizations 2 2 7 2 — — — — — Settlement loss 4 4 — 1 — — — — — Curtailment gain — (10 ) — — — — — — — Special termination cost — 4 — — — — — — — Net pension and postretirement expense $ (4 ) $ 19 $ 26 $ (3 ) $ (3 ) $ (1 ) $ 1 $ 1 $ 1 Weighted-average discount rate for expense (January 1) 3.9 % 4.8 % 4.0 % 3.3 % 3.2 % 4.3 % 3.8 % 4.4 % 3.6 % Weighted-average assumed long-term rate of return on assets (January 1) 7.4 % 7.6 % 7.6 % 7.3 % 7.4 % 7.4 % N/A N/A N/A Initial health care cost trend rate N/A N/A N/A N/A N/A N/A 7.3 % 7.5 % 7.8 % Ultimate health care cost trend rate N/A N/A N/A N/A N/A N/A 4.5 % 4.5 % 4.5 % Number of years to ultimate trend rate N/A N/A N/A N/A N/A N/A 14 15 16 N/A - Not applicable The net of tax loss in “Accumulated other comprehensive income (loss)” at December 31, 2015 and 2014 relating to pension benefits was $102 million and $101 million , respectively. Changing the assumed health care cost trend rates by one percentage point is not expected to have a material impact on the total of service and interest cost components or on the postretirement benefit obligation. The provisions charged to income for the years ended December 31, 2015, 2014 and 2013 for all other pension plans were approximately $12 million , $10 million and $10 million , respectively. The provisions charged to income for the years ended December 31, 2015, 2014 and 2013 for the defined contribution plans were approximately $30 million , $18 million and $18 million , respectively. Plan Assets The Company has a long-term investment outlook for the assets held in the Company sponsored plans, which is consistent with the long-term nature of each plan's respective liabilities. The Company has two major plans which reside in the U.S. and the U.K. The U.S. Plan (the “Plan”) currently has a target asset allocation of 65% equity and 35% fixed income. The equity portion of the Plan is invested in one passively managed S&P 500 index fund, one passively managed U.S. small/midcap fund, one actively managed international fund and one actively managed emerging markets fund. The fixed income portion of the Plan is actively managed by professional investment managers and is benchmarked to the Barclays Long Govt/Credit Index. The Plan assumes a 7.2% rate of return on assets expected long-term annual weighted-average for the Plan in total. The U.K. Plan has a target allocation of 37.5% actively managed multi-asset funds, 27.5% passive equity funds and 35% passive bond funds. The actively managed multi-asset funds are intended to deliver a long-term equity-like return but with reduced levels of volatility. The target allocation for the passive bonds is 70% in index-linked government bonds and 30% in corporate bonds. The target allocation for the equity funds are that 45% are held in U.K. Equities and the remainder diversified across global markets. All of the invested assets of the U.K. Plan are held via pooled funds managed by professional investment managers. The U.K. Plan assumes a 6.1% rate of return on assets expected long-term weighted-average for the Plan in total. The fair value measurements of the Company's U.S. pension plan assets are based upon significant observable inputs (Level 2) that reflect quoted prices for similar assets or liabilities in active markets. The fair value measurements of its U.S. pension plan assets relate to common collective trusts and other pooled investment vehicles consisting of the following asset categories: (In millions) December 31, 2015 December 31, 2014 Asset Category Short Term Investments $ 7 $ 13 Equity Securities: U.S. Large Cap 158 171 U.S. Mid Cap 36 50 U.S. Small Cap 45 38 International Large Cap 96 99 International Emerging Markets 29 29 Asset-Backed Securities 5 4 Fixed Income Securities: U.S. Treasuries 61 63 Corporate Bonds 110 123 Government Bonds 9 10 Municipal Bonds 10 10 Real Estate (REITs) 9 9 Total fair value of pension plan assets $ 575 $ 619 The Company's U.K. Plan accounts for $195 million of the $200 million in fair value of Non-U.S. plan assets at December 31, 2015 . The fair value measurements of its U.K. pension plan assets are based upon significant observable inputs (Level 2) and relate to common collective trusts and other pooled investment vehicles consisting of the following asset categories: (In millions) December 31, 2015 December 31, 2014 Asset Category Level 1 Level 2 Level 1 Level 2 Actively Managed Multi-Asset Funds: Diversified Growth Funds $ — $ 75 $ 74 $ — Passive Equity Funds: U.K. Equities 25 — 25 — Overseas Equities 31 — 31 — Passive Bond Funds: Corporate Bonds — 20 — 21 Index-Linked Gilts — 44 — 50 Total fair value of pension plan assets $ 56 $ 139 $ 130 $ 71 Contributions The Company's policy for funded plans is to contribute annually, at a minimum, amounts required by applicable laws, regulations and union agreements. From time to time, the Company makes contributions beyond those legally required. In 2015 , the Company did not make any cash contributions to its U.S. qualified pension plan. In 2014 , the Company made cash contributions to its U.S. qualified pension plan of $22 million . In 2015 , the Company made benefit payments to its U.S. non-qualified pension plans of $22 million . In 2014 , the Company made benefit payments to its U.S. non-qualified pension plans of $13 million . The Company made a $3 million discretionary contribution to its United Kingdom defined benefit pension plan (the "U.K. Plan") during each of the years ended December 31, 2015 and 2014 . The Company does not anticipate contributing to the U.S. qualified pension plan during 2016 . For the international plans the Company anticipates contributing $3 million during 2016 . The level of 2016 and future contributions will vary, and is dependent on a number of factors including investment returns, interest rate fluctuations, plan demographics, funding regulations and the results of the final actuarial valuation. Estimated Future Benefit Payments The following table presents estimated future benefit payments: (In millions) Pension Benefits Postretirement Benefits (U.S.) 2016 $ 48 $ 1 2017 48 1 2018 51 1 2019 54 1 2020 56 2 After 2020 302 6 $ 559 $ 12 Multiemployer Pension Plans The Company contributed to several multiemployer defined benefit pension plans under collective bargaining agreements that cover certain of its union-represented employees. The risks of participating in such plans are different from the risks of single-employer plans, in the following respects: a) Assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employers. b) If a participating employer ceases to contribute to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers. c) If the Company ceases to have an obligation to contribute to the multiemployer plan in which the Company had been a contributing employer, the Company may be required to pay to the plan an amount based on the underfunded status of the plan and on the history of its participation in the plan prior to the cessation of its obligation to contribute. The amount that an employer that has ceased to have an obligation to contribute to a multiemployer plan is required to pay to the plan is referred to as a withdrawal liability. The Company's participation in multiemployer plans for the annual period ended December 31, 2015 is outlined in the table below. For each plan that is individually significant to the Company, the following information is provided: The “EIN / Pension Plan Number” column provides the Employer Identification Number and the three-digit plan number assigned to a plan by the Internal Revenue Service. The most recent Pension Protection Act Zone Status available is for plan year that ended in 2014 . The zone status is based on information provided to the Company and other participating employers by each plan and is certified by the plan's actuary. A plan in the “red” zone has been determined to be in “critical status”, based on criteria established under the Internal Revenue Code (the “Code”) and is generally less than 65% funded. A plan in the “yellow” zone has been determined to be in “endangered status”, based on criteria established under the Code, and is generally less than 80% funded. A plan in the “green” zone has been determined to be neither in “critical status” nor in “endangered status,” and is generally at least 80% funded. The “FIP/RP Status Pending/Implemented” column indicates whether a Funding Improvement Plan, as required under the Code to be adopted by plans in the “yellow” zone, or a Rehabilitation Plan, as required under the Code to be adopted by plans in the “red” zone, is pending or has been implemented as of the end of the plan year that ended in 2015 . The “Surcharge Imposed” column indicates whether the Company's contribution rate for 2015 included an amount in addition the contribution rate specified in the applicable collective bargaining agreement, as imposed by a plan in “critical status,” in accordance with the requirements of the Code. The last column lists the expiration dates of the collective bargaining agreements pursuant to which the Company contributed to the plans. For plans that are not individually significant to the Company, the total amount of contributions is presented in the aggregate. EIN /Pension Pension FIP / Contributions by (In millions) Surcharge Imposed Expiration Pension Fund 2015 2014 2015 2014 2013 Western Conference of Teamsters 91-6145047 Green Green NA $ 6 $ 6 $ 4 N/A 1/31/2014* - 10/1/2017 Other Plans* 6 4 4 Total Contributions $ 12 $ 10 $ 8 N/A Not applicable * Included in the Other Plans are contributions to the Local 1034 Pension Fund. The amount contributed by Hertz to the Local 1034 Pension Fund was reported as being more than 5% of total contributions to the plan, on the fund's Form 5500 for the year ended December 31, 2014 .

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	Stock-Based Compensation Plans The non-cash stock-based compensation expense associated with the Hertz Holdings stock-based compensation plans is pushed down from Hertz Holdings and recorded on the books at the Hertz level. On February 28, 2008, the Boards of Directors of Hertz and Hertz Holdings jointly adopted the Hertz Global Holdings, Inc. 2008 Omnibus Incentive Plan (the “Omnibus Plan”) which was approved by the stockholders of Hertz Holdings at the annual meeting of stockholders held on May 15, 2008 and amended and restated on May 27, 2010. On October 15, 2015, Hertz Holdings' stockholders re-approved the material terms of the performance objectives under the Omnibus Plan, which allows Hertz Holdings to continue to grant equity incentive awards that are structured in a manner intended to qualify as tax-deductible, performance-based compensation under Section 162(m) of the Code. A maximum of 32,700,000 shares are reserved for issuance under the Omnibus Plan. The Omnibus Plan provides for grants of both equity and cash awards, including non-qualified stock options, incentive stock options, stock appreciation rights, performance awards (shares and units), restricted stock, restricted stock units and deferred stock units to key executives, employees and non-management directors. Hertz Holdings also granted awards under the Hertz Global Holdings, Inc. Stock Incentive Plan (the “Stock Incentive Plan”) and the Hertz Global Holdings, Inc. Director Stock Incentive Plan (the “Director Plan”), or (collectively, the “Prior Plans”). The Omnibus Plan provides that no further awards will be granted pursuant to the Prior Plans. However, awards that had been previously granted pursuant to the Prior Plans will continue to be subject to and governed by the terms of the Prior Plans. As of December 31, 2015 , there were 4,557,407 shares of Hertz Holdings' common stock underlying awards outstanding under the Prior Plans. In addition, as of December 31, 2015 , there were 9,429,723 shares of Hertz Holdings' common stock underlying awards outstanding under the Omnibus Plan. In addition to the 13,987,130 shares underlying outstanding awards as of December 31, 2015 , Hertz Holdings had 53,521,350 shares of its common stock available for issuance of which 12,633,685 shares are available under the Omnibus Plan, and 40,887,665 shares are available under Hertz Holdings' treasury stock. The shares of common stock to be delivered under the Omnibus Plan may consist, in whole or in part, of common stock held in treasury or authorized but unissued shares of common stock, not reserved for any other purpose. Shares subject to any award granted under the Omnibus Plan that for any reason are canceled, terminated, forfeited, settled in cash or otherwise settled without the issuance of common stock after the effective date of the Omnibus Plan will generally be available for future grants under the Omnibus Plan. A summary of the total compensation expense and associated income tax benefits recognized under the Prior Plans and the Omnibus Plan, including the cost of stock options, RSUs, and PSUs, is as follows (in millions of dollars): Years Ended December 31, (In millions) 2015 2014 2013 Compensation expense $ 17 $ 11 $ 35 Income tax benefit (7 ) (4 ) (14 ) Total $ 10 $ 7 $ 21 As of December 31, 2015 , there was approximately $48 million of total unrecognized compensation cost related to non-vested stock options, RSUs and PSUs granted by Hertz Holdings under the Prior Plans and the Omnibus Plan. The total unrecognized compensation cost is expected to be recognized over the remaining 1.9 years , on a weighted average basis, of the requisite service period that began on the grant dates. Stock Options and Stock Appreciation Rights All stock options and stock appreciation rights granted under the Omnibus Plan will have a per-share exercise price of not less than the fair market value of one share of Hertz Holdings' common stock on the grant date. Stock options and stock appreciation rights will vest based on a minimum period of service or the occurrence of events (such as a change in control, as defined in the Omnibus Plan) specified by the compensation committee of the Hertz and Hertz Holdings Boards of Directors. No stock options or stock appreciation rights will be exercisable after a maximum of ten years from the grant date. The Company has accounted for the Hertz Holdings' employee stock-based compensation awards in accordance with ASC 718, “Compensation-Stock Compensation.” The options are being accounted for as equity-classified awards. The Company will recognize compensation cost on a straight-line basis over the vesting period. The value of each option award is estimated on the grant date using a Black-Scholes option valuation model that incorporates the assumptions noted in the following table. Hertz Holdings calculates the expected volatility on the historical movement of its stock price. Grants Assumption 2015 2014 2013 (a) Expected volatility 41.4 % 39.3 % N/A Expected dividend yield — % — % N/A Expected term (years) 5 3 N/A Risk-free interest rate 1.17 % 0.96 % N/A Weighted-average grant date fair value $ 7.34 $ 7.14 N/A (a) No options were granted in 2013. A summary of option activity under the Stock Incentive Plan and the Omnibus Plan as of December 31, 2015 is presented below. Options Shares Weighted- Weighted- Aggregate Intrinsic Outstanding at January 1, 2015 8,895,521 $ 12.62 3.6 $ 106 Granted 3,301,499 22.20 — — Exercised (595,318 ) 7.88 — — Forfeited or Expired (581,358 ) 21.70 — — Outstanding at December 31, 2015 11,020,344 14.88 3.0 26 Exercisable at December 31, 2015 8,185,899 12.42 2.6 26 A summary of non-vested options as of December 31, 2015 , and changes during the year, is presented below. Non-vested Weighted- Weighted- Non-vested as of January 1, 2015 689,242 $ 20.51 $ 6.81 Granted 3,301,499 22.20 7.48 Vested (697,747 ) 20.44 6.80 Forfeited (458,549 ) 23.26 7.75 Non-vested as of December 31, 2015 2,834,445 21.99 7.13 Additional information pertaining to option activity under the plans is as follows: Years Ended December 31, (In millions) 2015 2014 2013 Aggregate intrinsic value of stock options exercised $ 4 $ 24 $ 42 Cash received from the exercise of stock options 5 18 27 Fair value of options that vested 5 5 6 Tax benefit realized on exercise of stock options — 1 1 Performance Stock, Performance Stock Units, Restricted Stock and Restricted Stock Units Performance stock and performance stock units ("PSU") granted under the Omnibus Plan will vest based on the achievement of pre-determined performance goals over performance periods determined by the Compensation Committee. Each of the units granted under the Omnibus Plan represent the right to receive one share of Hertz Holdings' common stock on a specified future date. In the event of an employee's death or disability, a pro rata portion of the employee's performance stock, performance stock units and performance units will vest to the extent performance goals are achieved at the end of the performance period. Restricted stock and restricted stock units ("RSU") granted under the Omnibus Plan will vest based on a minimum period of service or the occurrence of events (such as a change in control, as defined in the Omnibus Plan) specified by the Compensation Committee. A summary of the PSU activity under the Omnibus Plan as of December 31, 2015 is presented below. Shares Weighted- Aggregate Intrinsic Outstanding at January 1, 2015 2,056,509 $ 19.90 $ 49 Granted 1,413,367 21.10 — Vested (614,902 ) 15.22 — Forfeited or Expired (1,223,671 ) 23.54 — Outstanding at December 31, 2015 1,631,303 20.14 23 A summary of RSU activity under the Omnibus Plan as of December 31, 2015 is presented below. Shares Weighted- Aggregate Intrinsic Outstanding at January 1, 2015 324,304 $ 19.38 $ 8 Granted 984,129 20.38 — Vested (251,715 ) 18.06 — Forfeited or Expired (80,912 ) 22.69 — Outstanding at December 31, 2015 975,806 20.46 14 Additional information pertaining to RSU activity is as follows: Years Ended December 31, 2015 2014 2013 Total fair value of awards that vested (In millions) $ 5 $ 9 $ 13 Weighted average grant date fair value of awards 20.38 28.18 23.95 Compensation expense for PSUs and RSUs is based on the grant date fair value, and is recognized ratably over the vesting period. For grants in 2015, 2014 and 2013, the vesting period is three years. In addition to the service vesting condition, the PSUs had an additional vesting condition which called for the number of units that will be awarded being based on achievement of a certain level of Corporate EBITDA or other performance measures over the applicable measurement period. Employee Stock Purchase Plan Hertz Holdings previously operated an Employee Stock Purchase Plan ("ESPP") for certain eligible employees. The plan was suspended in 2014.

Tangible Asset Impairments and

Tangible Asset Impairments and Asset Write-downs	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Tangible Asset Impairments and Asset Write-downs	Tangible Asset Impairments and Asset Write-downs During 2015, the Company deemed its former Dollar Thrifty headquarters in Tulsa, Oklahoma, which is part of the U.S. Car Rental segment, as held for sale. The Company performed an impairment assessment and recorded a charge of $6 million which is included in selling, general and administrative expense in the Company's statement of operations. The building was sold in December 2015. Also during 2015, the Company deemed a building in its U.S. Car Rental segment to be held for sale. The Company performed an impairment assessment and recorded a charge of $5 million . The Company also reassessed the carrying value of a held for sale corporate asset and recorded a charge of $3 million . The corporate asset was sold in April 2015. These charges are in cluded in other (income) expense, net in the Company's statement of operations. Additionally, during 2015, the Company recorded $16 million in charges associated with U.S. Car Rental service equipment and assets deemed to have no future use, of which $9 million is included in direct operating expense and $7 million is included in other (income) expense, net in the Company's statement of operations. During 2014, the Company deemed certain revenue earning equipment in its equipment rental business as held for sale. The Company performed an impairment assessment and recorded a charge of $10 million . In addition, the Company recorded $10 million in charges to write-off assets associated with a terminated business relationship. These charges are included in direct operating expense in the Company's statement of operations. Also during 2014, the Company deemed its previous corporate headquarters building to be held for sale. The Company performed an impairment assessment and recorded a charge of $13 million which is included in selling, general and administrative expense in the Company's statement of operations. The Company also recorded $14 million in charges to write-down service equipment that was deemed to have no future use which is included in other (income) expense, net in the Company's statement of operations. During 2013, Franchise Services of North America, Inc., the parent of Simply Wheelz LLC ("Simply Wheelz") the owner and operator of Hertz’s divested Advantage brand, filed for bankruptcy protection under Chapter 11 of the U.S. Bankruptcy Code. As a result, Hertz performed an impairment analysis of the vehicles subleased to Simply Wheelz and recorded an impairment charge of $40 million which is included in other (income) expense, net in the Company's statement of operations.

Lease and Concession Agreements

Lease and Concession Agreements	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Lease and Concession Agreements	Lease and Concession Agreements Noncancellable Operating Leases and Concession Agreements The Company has various concession agreements, which provide for payment of rents and a percentage of revenue with a guaranteed minimum, and real estate leases under which the following amounts were expensed: Years ended December 31, (In millions) 2015 2014 2013 Rents $ 189 $ 185 $ 185 Concession fees: Minimum fixed obligations 367 416 405 Additional amounts, based on revenues 344 301 295 Total 900 902 885 Sublease income (5 ) (4 ) (5 ) Total $ 895 $ 898 $ 880 As of December 31, 2015 , minimum net obligations under existing agreements referred to above approximate the following: (In millions) Rents Concessions 2016 $ 219 $ 291 2017 184 252 2018 149 199 2019 106 147 2020 69 106 After 2020 256 483 Total $ 983 $ 1,478 Many of the Company's concession agreements and real estate leases require the Company to pay or reimburse operating expenses, such as common area charges and real estate taxes, to pay concession fees above guaranteed minimums or additional rent based on a percentage of revenues or sales (as defined in those agreements) arising at the relevant premises, or both. Such obligations are not reflected in the table of minimum future obligations appearing immediately above. The Company operates from various leased premises under operating leases with terms up to 50 years . A number of its operating leases contain renewal options. These renewal options vary, but the majority include clauses for renewal for various term lengths at various rates, both fixed and market. In addition to the rents mentioned above, the Company has various leases on revenue earning equipment and office, computer and other equipment under which the following amounts were expensed: Years Ended December 31, (In millions) 2015 2014 2013 Revenue earning equipment $ 72 $ 80 $ 81 Office, computer and other equipment 18 19 17 Total $ 90 $ 99 $ 98 As of December 31, 2015 , minimum obligations under existing agreements for revenue earning equipment and office, computer and other equipment approximate the following: (In millions) 2016 $ 14 2017 10 2018 5 2019 4 2020 4 After 2020 4 Total $ 41 Commitments under capital leases within the Company's vehicle rental programs are included in Note 6 , " Debt ."

Restructuring

Restructuring	12 Months Ended
	Dec. 31, 2015
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring As part of the Company's ongoing effort to implement its strategy of reducing operating costs, as well as the integration of Dollar Thrifty the Company incurred the following restructuring costs: Years Ended December 31, (In millions) 2015 2014 2013 By Type: Termination benefits $ 16 $ 30 $ 42 Impairments and asset write-downs 2 23 — Facility closure and lease obligation costs 19 15 15 Relocation costs and temporary labor costs (4 ) 9 19 Other — 1 1 Total $ 33 $ 78 $ 77 Years Ended December 31, (In millions) 2015 2014 2013 By Caption: Direct operating $ 20 $ 35 $ 28 Selling, general and administrative 13 43 49 Total $ 33 $ 78 $ 77 Years Ended December 31, (In millions) 2015 2014 2013 By Segment: U.S. Car Rental $ 23 $ 27 $ 23 International Car Rental 6 19 19 Worldwide Equipment Rental 4 5 8 Corporate — 27 27 Total $ 33 $ 78 $ 77 The following table sets forth the activity affecting the restructuring accrual during the years ended December 31, 2015 and 2014 . The Company expects to pay the remaining restructuring obligations relating to termination benefits over the next twelve months. The remainder of the restructuring accrual relates to future lease obligations which will be paid over the remaining term of the applicable leases. (In millions) Termination Other Total Balance as of December 31, 2013 $ 20 $ 28 $ 48 Charges incurred 30 48 78 Cash payments (28 ) (25 ) (53 ) Other non-cash changes (a) (1 ) (29 ) (30 ) Balance as of December 31, 2014 $ 21 $ 22 $ 43 Charges incurred 16 17 33 Cash payments (26 ) (16 ) (42 ) Other non-cash changes (b) (1 ) (6 ) (7 ) Balance as of December 31, 2015 $ 10 $ 17 $ 27 (a) Decrease in 2014 primarily consists of $10 million related to the write-down of assets associated with a terminated business relationship and $13 million related to the impairment of the Company's former corporate headquarters building in New Jersey which were recorded in direct operating and selling, general and administrative expenses, respectively. (b) Decrease in 2015 primarily consists of $4 million related to the write-down of assets deemed to have no future use in the Company's U.S. Car Rental segment.

Taxes on Income (Loss)

Taxes on Income (Loss)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Taxes on Income (Loss)	Taxes on Income (Loss) The components of income (loss) before income taxes for the periods were as follows: Years Ended December 31, (In millions) 2015 2014 2013 Domestic $ 31 $ (185 ) $ 573 Foreign 313 169 106 Total income (loss) $ 344 $ (16 ) $ 679 The total provision (benefit) for taxes on income (loss) consists of the following: Years Ended December 31, (In millions) 2015 2014 2013 Current: Federal $ 6 $ 1 $ (7 ) Foreign 58 45 60 State and local 1 8 21 Total current 65 54 74 Deferred: Federal 40 (17 ) 223 Foreign (42 ) 9 16 State and local 5 16 16 Total deferred 3 8 255 Total provision $ 68 $ 62 $ 329 The principal items of the U.S. and foreign net deferred tax assets and liabilities are as follows: December 31, (In millions) 2015 2014 Deferred Tax Assets: Employee benefit plans $ 74 $ 82 Net operating loss carry forwards 1,639 1,871 Federal, state and foreign local tax credit carry forwards 47 26 Accrued and prepaid expenses 281 263 Total Deferred Tax Assets 2,041 2,242 Less: Valuation Allowance (151 ) (231 ) Total Net Deferred Tax Assets 1,890 2,011 Deferred Tax Liabilities: Depreciation on tangible assets (3,349 ) (3,489 ) Intangible assets (1,417 ) (1,415 ) Total Deferred Tax Liabilities (4,766 ) (4,904 ) Net Deferred Tax Liability $ (2,876 ) $ (2,893 ) As of December 31, 2015 , deferred tax assets of $1,326 million were recorded for unutilized U.S. Federal Net Operating Losses (“NOL") carry forwards of $3,791 million . The total Federal NOL carry forwards are $3,930 million , of which $139 million relate to excess tax deductions associated with stock compensation plans which have yet to reduce taxes payable. Upon the utilization of these carry forwards, the associated tax benefits of approximately $49 million will be recorded to "additional paid-in capital". The Federal NOLs begin to expire in 2029 . State NOLs exclusive of the effects of the excess tax deductions, have generated a deferred tax asset of $178 million . As of December 31, 2015 , a valuation allowance of $22 million was recorded against these deferred tax assets because they relate to separate states that have historical losses where it is more likely than not that the NOL carry forwards may not be utilized in the future. The state NOLs expire over various years beginning in 2016 depending upon when they were generated and the particular jurisdiction. As of December 31, 2015 , deferred tax assets of $135 million were recorded for foreign NOL carry forwards of $550 million . A valuation allowance of $129 million at December 31, 2015 was recorded against these deferred tax assets because those assets relate to jurisdictions that have historical losses and it is more likely than not that a portion of the NOL carry forwards may not be utilized in the future. The foreign NOL carry forwards of $550 million include $484 million which have an indefinite carry forward period and associated deferred tax assets of $117 million . The remaining foreign NOLs of $66 million are subject to expiration beginning in 2016 and have associated deferred tax assets of $18 million . In determining the valuation allowance, an assessment of positive and negative evidence was performed regarding realization of the net deferred tax assets in accordance with ASC 740-10, “Accounting for Income Taxes”. This assessment included the evaluation of cumulative earnings and losses in recent years, scheduled reversals of net deferred tax liabilities, the availability of carry forwards and the remaining period of the respective carry forward, future taxable income and any applicable tax-planning strategies that are available. The Company released valuation allowances on losses in Spain and Italy in the amounts $28 million and $5 million , respectively. This was based on an evaluation of cumulative earnings and positive projections of income that are available to utilize such losses . Based on the assessment, as of December 31, 2015 , total valuation allowances of $151 million were recorded against deferred tax assets. Although realization is not assured, the Company has concluded that it is more likely than not the remaining deferred tax assets of $1,890 million will be realized and as such no valuation allowance has been provided on these assets. As of December 31, 2015 , deferred tax assets of $47 million were recorded for U.S. federal alternative minimum tax ("AMT") credits and various state tax credits. The state tax credits expire over various years beginning in 2018 depending upon when they were generated and the particular jurisdiction. The carryover period for the AMT credits is indefinite. The significant items in the reconciliation of the statutory and effective income tax rates consisted of the following: Years Ended December 31, 2015 2014 2013 Statutory Federal Tax Rate 35 % 35 % 35 % Foreign tax rate differential (8 ) 102 (3 ) State and local income taxes, net of federal income tax benefit 1 (18 ) 5 Change in state statutory rates, net of federal income tax benefit 2 (77 ) — Federal and foreign permanent differences 3 (76 ) 5 Withholding taxes 2 (54 ) 2 Uncertain tax positions (2 ) (66 ) (1 ) Change in valuation allowance (14 ) (109 ) 5 Benefit from sale of non-U.S. operations (6 ) — — All other items, net 7 (125 ) — Effective Tax Rate 20 % (388 )% 48 % The effective tax rate for the year ended December 31, 2015 was 20% as compared to (388)% for the year ended December 31, 2014 , with an income tax provision of $68 million and $62 million , respectively. The $6 million increase in the tax provision is due to an increase in pretax earnings, the composition of earnings by jurisdiction, a decrease in the valuation allowance relating to losses in certain non-U.S. jurisdictions, and a decrease in net unrecognized tax benefits accrued during the year. The year ended December 31, 2015 also includes an income tax benefit for an excess tax loss over a book gain realized on sale of operations in France and Spain. The effective tax rate for the year ended December 31, 2014 was (388)% as compared to 48% in the year ended December 31, 2013. The provision for taxes on income decreased $267 million , primarily due to lower income before income taxes, changes in geographic earnings mix, and decreased state and local tax rates and a decrease in the valuation allowance relating to losses in certain non-U.S. jurisdictions for which tax benefits are not realized, offset by an increase in unrecognized tax benefits accrued during the year and non-deductible transaction costs. As of December 31, 2015 , the Company's foreign subsidiaries have $717 million of undistributed earnings which could be subject to taxation if repatriated. Due to the Company's legal structure, the foreign earnings subject to taxation upon distribution could be less. Deferred tax liabilities, to the extent they exist, have not been recorded for such earnings because it is management’s current intention to permanently reinvest such undistributed earnings offshore. Due to the uncertainty caused by the various methods in which such earnings could be repatriated, and because of the potential availability of U.S. foreign tax credits (“FTCs”) it is not practicable to determine the U.S. federal income tax liability that would be payable if such earnings were not reinvested indefinitely. However, if such earnings were repatriated and subject to taxation at the maximum current U.S. federal tax rate, the tax liability would be approximately $277 million , which includes the net impact of foreign withholding taxes, but excludes the impact of potential FTCs and other possible alternatives that could reduce the tax liability. The Company would consider and pursue appropriate alternatives to reduce the tax liability if, in the future, undistributed earnings are repatriated to the United States, or it is determined such earnings will be repatriated in the foreseeable future. As of December 31, 2015 , total unrecognized tax benefits were $81 million , of which $6 million , if settled, would negatively impact the effective tax rate in future periods because of correlative adjustments associated with these liabilities. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: (In millions) 2015 2014 2013 Balance at January 1 $ 57 $ 11 $ 19 Increase (Decrease) attributable to tax positions taken during prior periods 16 4 (7 ) Increase (Decrease) attributable to tax positions taken during the current year 9 42 3 Decrease attributable to settlements with taxing authorities (1 ) — (4 ) Balance at December 31 $ 81 $ 57 $ 11 The Company conducts business globally and, as a result, files one or more income tax returns in the U.S. and non-U.S. jurisdictions. In the normal course of business the Company is subject to examination by taxing authorities throughout the world. The open tax years for these jurisdictions span from 2003 to 2015. The Internal Revenue Service completed their audit of the Company's 2007 to 2009 and surveyed 2010 and 2011 tax returns and had no changes to the previously filed tax returns. Several U.S. state and other non-U.S. jurisdictions are under audit. With regard to these audits, it is reasonably possible that the amount of unrecognized tax benefits may change as the result of the completion of ongoing examinations, the expiration of the statute of limitations or other unforeseen circumstances. At this time, an estimate of the range of the reasonably possible change cannot be made. It is reasonable that approximately $1 million of unrecognized tax benefits may reverse within the next twelve months due to settlement with the relevant non-U.S. taxing authorities. Net, after-tax interest and penalties related to the liabilities for unrecognized tax benefits are classified as a component of “Provision for taxes on income (loss)” in the consolidated statement of operations. During the years ended December 31, 2015, 2014 and 2013 , approximately $4 million , $1 million and $(1) million , respectively, in net, after-tax interest and penalties were recognized. As of December 31, 2015 and 2014 , approximately $6 million and $3 million , respectively, of net, after-tax interest and penalties were accrued in the Company's consolidated balance sheet within "Accrued taxes."

Financial Instruments

Financial Instruments	12 Months Ended
	Dec. 31, 2015
Financial Instruments
Financial Instruments	Financial Instruments The Company employs established risk management policies and procedures, which seek to reduce the Company’s commercial risk exposure to fluctuations in commodity prices, interest rates and currency exchange rates. However, there can be no assurance that these policies and procedures will be successful. Although the instruments utilized involve varying degrees of credit, market and interest risk, the counterparties to the agreements are expected to perform fully under the terms of the agreements. The Company monitors counterparty credit risk, including lenders, on a regular basis, but cannot be certain that all risks will be discerned or that its risk management policies and procedures will always be effective. Additionally, in the event of default under the Company’s master derivative agreements, the non-defaulting party generally has the option to set-off any amounts owed with regard to open derivative positions. The Company has the following risk exposures that it has historically used financial instruments to manage. None of the instruments have been designated in a hedging relationship as of December 31, 2015 and 2014 . Interest Rate Risk The Company’s objective in managing exposure to interest rate changes is to minimize the impact of interest rate changes on earnings and cash flows and to lower overall borrowing costs. To achieve these objectives, the Company uses interest rate caps and other instruments to manage the mix of floating and fixed-rate debt. Currency Exchange Rate Risk The Company’s objective in managing exposure to currency fluctuations is to limit the exposure of certain cash flows and earnings from changes associated with currency exchange rate changes through the use of various derivative contracts. The Company experiences currency risks in its global operations as a result of various factors including intercompany local currency denominated loans, rental operations in various currencies and purchasing fleet in various currencies. The following table summarizes the estimated fair value of financial instruments: Fair Value of Financial Instruments Asset Derivatives (a) Liability Derivatives (a) Years Ended December 31, Years Ended December 31, (In millions) 2015 2014 2015 2014 Interest rate caps $ 9 $ 25 $ 9 $ 25 Foreign currency forward contracts 3 6 1 2 Total $ 12 $ 31 $ 10 $ 27 (a) All asset derivatives are recorded in "Prepaid expenses and other assets" and all liability derivatives are recorded in "Accrued liabilities" in the Company's consolidated balance sheets. The following table summarizes the gains and (losses) on financial instruments for the period indicated: Location of Gain or (Loss) Amount of Gain or (Loss) Recognized in Income on Derivatives Years Ended December 31, (In millions) 2015 2014 2013 Gasoline swaps Direct operating $ — $ — $ 2 Interest rate caps Selling, general and administrative — (2 ) (1 ) Foreign currency forward contracts Selling, general and administrative (20 ) (1 ) (22 ) Total $ (20 ) $ (3 ) $ (21 ) While the Company's foreign currency forward contracts and certain interest rate caps are subject to enforceable master netting agreements with their counterparties, the Company does not offset the derivative assets and liabilities in its consolidated balance sheets. The impact of offsetting derivative instruments is depicted below as of December 31, 2015 : Prepaid Expenses and Other Assets: (In millions) Gross assets Gross assets offset in Balance Sheet Net recognized assets in Balance Sheet Gross Financial Instruments not offset in Balance Sheet Net Amount Interest rate caps $ 9 $ — $ 9 $ — $ 9 Foreign currency forward contracts 3 — 3 — 3 Total $ 12 $ — $ 12 $ — $ 12 Accrued Liabilities: (In millions) Gross liabilities Gross liabilities offset in Balance Sheet Net recognized liabilities in Balance Sheet Gross Financial Instruments not offset in Balance Sheet Net Amount Interest rate caps $ 9 $ — $ 9 $ — $ 9 Foreign currency forward contracts 1 — 1 — 1 Total $ 10 $ — $ 10 $ — $ 10 The impact of offsetting derivative instruments is depicted below as of December 31, 2014 : Prepaid Expenses and Other Assets: (In millions) Gross assets Gross assets offset in Balance Sheet Net recognized assets in Balance Sheet Gross Financial Instruments not offset in Balance Sheet Net Amount Interest rate caps $ 25 $ — $ 25 $ — $ 25 Foreign currency forward contracts 6 — 6 (3 ) 3 Total $ 31 $ — $ 31 $ (3 ) $ 28 Accrued Liabilities: (In millions) Gross liabilities Gross liabilities offset in Balance Sheet Net recognized liabilities in Balance Sheet Gross Financial Instruments not offset in Balance Sheet Net Amount Interest rate caps $ 25 $ — $ 25 $ (1 ) $ 24 Foreign currency forward contracts 2 — 2 (2 ) — Total $ 27 $ — $ 27 $ (3 ) $ 24

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market or, if none exists, the most advantageous market, for the specific asset or liability at the measurement date (referred to as the "exit price"). Fair value is a market-based measurement that should be determined based upon assumptions that market participants would use in pricing an asset or liability, including consideration of nonperformance risk. The Company assesses the inputs used to measure fair value using the three-tier hierarchy promulgated under U.S.GAAP. This hierarchy indicates the extent to which inputs used in measuring fair value are observable in the market. Level 1: Inputs that reflect quoted prices for identical assets or liabilities in active markets that are observable. Level 2: Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data. Level 3: Inputs that are unobservable to the extent that observable inputs are not available for the asset or liability at the measurement date and include management's judgment about assumptions market participants would use in pricing the asset or liability. 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 as shown in the sections that follow. Assets and Liabilities Measured at Fair Value on a Recurring Basis The fair value of cash, accounts receivable, accounts payable and accrued expenses, to the extent the underlying liability will be settled in cash, approximate carrying values because of the short-term nature of these instruments. The Company's assessment of goodwill and other intangible assets for impairment includes an assessment using various Level 2 (EBITDA multiples and discount rate) and Level 3 (forecasted cash flows) inputs. See Note 2 , " Summary of Critical and Significant Accounting Policies — Recoverability of Goodwill and Intangible Assets ," for more information on the application of the use of fair value methodology. Cash Equivalents and Investments The Company’s cash equivalents primarily consist of money market accounts which the Company measures at fair value on a recurring basis. The Company determines the fair value of cash equivalents using a market approach based on quoted prices in active markets. Investments in equity and other securities that are measured at fair value on a recurring basis consist of various mutual funds. The valuation of these securities is based on pricing models whereby all significant inputs are observable or can be derived from or corroborated by observable market data. The following table summarizes the ending balances of the Company's cash equivalents and investments. December 31, 2015 December 31, 2014 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Money market funds $ 195 $ 49 $ — $ 244 $ 146 $ — $ — $ 146 Equity and other securities — 111 — 111 — 96 — 96 Total $ 195 $ 160 $ — $ 355 $ 146 $ 96 $ — $ 242 CAR Inc. As further described in Note 3 , " Acquisitions and Divestitures ," the Company holds an equity investment in CAR Inc. of 10.2% and 16.2% as of December 31, 2015 and December 31, 2014 , respectively. The Company's net investment balance was approximately $180 million and $264 million as of December 31, 2015 and December 31, 2014 , respectively, and is included in "Prepaid expenses and other assets" in the accompanying consolidated balance sheets. The fair value of the investment using quoted market prices (Level 1) was approximately $406 million and $514 million as of December 31, 2015 and December 31, 2014 , respectively. Financial Instruments The fair value of the Company's financial instruments as of December 31, 2015 and 2014 are shown in Note 13 , " Financial Instruments ." The Company's financial instruments are classified as Level 2 assets and liabilities and are priced using quoted market prices for similar assets or liabilities in active markets. Debt Obligations The fair value of the Company's debt is estimated based on quoted market rates as well as borrowing rates currently available for loans with similar terms and average maturities (Level 2 inputs). As of December 31, 2015 As of December 31, 2014 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Corporate Debt $ 6,055 $ 6,134 $ 6,428 $ 6,468 Fleet Debt 9,857 9,854 9,569 9,595 Total $ 15,912 $ 15,988 $ 15,997 $ 16,063 Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis Assets and liabilities measured at fair value during the year ended December 31, 2015 are as follows: (In millions) Balance Level 1 Level 2 Level 3 Total Loss Adjustments Long-lived assets held for sale $ 25 $ — $ — $ 25 $ 5 The assets and liabilities measured on a non-recurring basis include long-lived assets that are held for sale. Refer to the impairment disclosures in Note 9 , " Tangible Asset Impairments and Asset Write-downs ," for further information regarding loss adjustments for certain of the assets included in the table above.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	12 Months Ended
	Dec. 31, 2015
Reclassification out of Accumulated Other Comprehensive Income [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Changes in the accumulated other comprehensive income (loss) balance by component (net of tax) are as follows: (In millions) Pension and Other Post-Employment Benefits Foreign Currency Items Unrealized Losses on Terminated Net Investment Hedges Unrealized Gains on Available for Sale Securities Accumulated Other Comprehensive Income (Loss) Balance as of January 1, 2015 $ (101 ) $ 5 $ (19 ) $ — $ (115 ) Other comprehensive income (loss) before reclassification (8 ) (87 ) — — (95 ) Amounts reclassified from accumulated other comprehensive loss 7 (42 ) — — (35 ) Balance as of December 31, 2015 $ (102 ) $ (124 ) $ (19 ) $ — $ (245 ) (In millions) Pension and Other Post-Employment Benefits Foreign Currency Items Unrealized Losses on Terminated Net Investment Hedges Unrealized Gains on Available for Sale Securities Accumulated Other Comprehensive Income (Loss) Balance as of January 1, 2014 $ (58 ) $ 62 $ (19 ) $ 21 $ 6 Other comprehensive (loss) before reclassification (34 ) (57 ) — (14 ) (105 ) Amounts reclassified from accumulated other comprehensive income (loss) (9 ) — — (7 ) (16 ) Balance as of December 31, 2014 $ (101 ) $ 5 $ (19 ) $ — $ (115 )

Contingencies and Off-Balance S

Contingencies and Off-Balance Sheet Commitments	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Off-Balance Sheet Commitments	Contingencies and Off-Balance Sheet Commitments Legal Proceedings Public Liability and Property Damage The Company is currently a defendant in numerous actions and has received numerous claims on which actions have not yet been commenced for public liability and property damage arising from the operation of motor vehicles and equipment rented from the Company. The obligation for public liability and property damage on self-insured U.S. and international vehicles and equipment, as stated on the Company's balance sheet, represents an estimate for both reported accident claims not yet paid and claims incurred but not yet reported. The related liabilities are recorded on a non-discounted basis. Reserve requirements are based on rental volume and actuarial evaluations of historical accident claim experience and trends, as well as future projections of ultimate losses, expenses, premiums and administrative costs. At December 31, 2015 and 2014 , the Company's liability recorded for public liability and property damage matters was $402 million and $385 million , respectively. The Company believes that its analysis is based on the most relevant information available, combined with reasonable assumptions, and that the Company may prudently rely on this information to determine the estimated liability. The liability is subject to significant uncertainties. The adequacy of the liability reserve is regularly monitored based on evolving accident claim history and insurance related state legislation changes. If the Company's estimates change or if actual results differ from these assumptions, the amount of the recorded liability is adjusted to reflect these results. Other Matters From time to time the Company is a party to various legal proceedings. The Company has summarized below, the most significant legal proceedings to which the Company was and/or is a party to during 2015 or the period after December 31, 2015 but before the filing of this Annual Report. Concession Fee Recoveries - In October 2006, Janet Sobel, Daniel Dugan, PhD. and Lydia Lee, individually and on behalf of all others similarly situated v. The Hertz Corporation and Enterprise Rent-A-Car Company (“Enterprise”) was filed in the U.S. District Court for the District of Nevada (Enterprise became a defendant in a separate action which they have now settled.) The Sobel case is a consumer class action on behalf of all persons who rented cars from Hertz at airports in Nevada and were separately charged airport concession recovery fees by Hertz as part of their rental charges during the class period. In October 2014, the court entered final judgement against the Company and directed Hertz to pay the class approximately $42 million in restitution and $11 million in prejudgment interest, and to pay attorney's fees of $3.1 million with an additional $3.1 million to be paid from the restitution fund. In December 2014, Hertz timely filed an appeal of that final judgment with the U.S. Court of Appeals for the Ninth Circuit and the plaintiffs cross appealed the court's judgment seeking to challenge the lower court's ruling that Hertz did not deceive or mislead the class members. The matter has now been fully briefed by the parties. No oral argument date has been set. The Company continues to believe the outcome of this case will not be material to its financial condition, results of operations or cash flows. In re Hertz Global Holdings, Inc. Securities Litigation - In November 2013, a purported shareholder class action, Pedro Ramirez, Jr. v. Hertz Global Holdings, Inc., et al., was commenced in the U.S. District Court for the District of New Jersey naming Hertz Holdings and certain of its officers as defendants and alleging violations of the federal securities laws. Since then the complaint has been amended several times. The complaint, as amended, alleges that Hertz Holdings made material misrepresentations and/or omissions of material fact in its public disclosures during the period from February 14, 2013 through to July 16, 2015, in violation of Section 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder. Plaintiffs seek an unspecified amount of monetary damages on behalf of the purported class and an award of costs and expenses, including counsel fees and expert fees. On November 4, 2015 Hertz Holdings filed its motion to dismiss and on February 2, 2016 the plaintiffs filed their response and a Motion for Leave to File a Proposed Fourth Amended Complaint to address standing issues associated with the lead plaintiff. Hertz Holdings believes that it has valid and meritorious defenses and it intends to vigorously defend against the complaint, but litigation is subject to many uncertainties and the outcome of this matter is not predictable with assurance. It is possible that this matter could be decided unfavorably to Hertz Holdings. However, Hertz Holdings is currently unable to estimate the range of these possible losses, but they could be material to the Company's consolidated financial condition, results of operations or cash flows in any particular reporting period. Ryanair - In July 2015, Ryanair Ltd. ("Ryanair") filed a complaint against Hertz Europe Limited, a subsidiary of the Company, in the High Court of Justice, Queen’s Bench Division, Commercial Court, Royal Courts of Justice of the United Kingdom alleging breach of contract in connection with Hertz Europe Limited’s termination of its car hire agreement with Ryanair following a contractual dispute with respect to Ryanair’s agreement to begin using third party ticket distributors. The complaint seeks damages, interest and costs, together with attorney fees. The Company believes that it has valid and meritorious defenses and it intends to vigorously defend against these allegations, but litigation is subject to many uncertainties and the outcome of this matter is not predictable with assurance. The Company has established a reserve for this matter which is not material. However, it is possible that this matter could be decided unfavorably to the Company, accordingly, it is possible that an adverse outcome 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. The Company intends to assert that it has meritorious defenses in the foregoing matters and the Company intends to defend itself vigorously. Governmental Investigations - In June 2014, the Company was advised by the staff of the New York Regional Office of the SEC that it is investigating the events disclosed in certain of the Company’s filings with the SEC. In addition, in December 2014 a state securities regulator requested information regarding the same events. The investigations generally involve the restatements included in the Company's 2014 Form 10-K and related accounting for prior periods. The Company has and intends to continue to cooperate with both the SEC and state requests. Due to the stage at which the proceedings are, Hertz is currently unable to predict the likely outcome of the proceedings or estimate the range of reasonably possible losses, which may be material. Among other matters, the restatements included in the Company’s 2014 Form 10-K addressed a variety of accounting matters involving the Company’s Brazil rental car operations. The Company has identified certain activities in Brazil that may raise issues under the Foreign Corrupt Practices Act and local laws, which the Company has self-reported to appropriate government entities. At this time, the Company is unable to predict the outcome of this issue or estimate the range of reasonably possible losses, which could be material. French Antitrust - In February 2015, the French Competition Authority issued a Statement of Objections claiming that several car rental companies, including Hertz and certain of its subsidiaries, violated French competition law by receiving historic market information from twelve French airports relating to the car rental companies operating at those airports and by engaging in a concerted practice relating to train station surcharges. Hertz believes that it has valid defenses and intends to vigorously defend against the allegations, but, due to the early stage at which the proceedings are, Hertz is currently unable to predict the likely outcome of the proceedings or range of reasonably possible losses, which may be material. French Road Tax - The French Tax Authority has challenged the historic practice of several rental car companies, including Hertz France, of registering vehicles in jurisdictions where it is established and where the road tax payable with respect to those vehicles is lower than the road tax payable in the jurisdictions where the vehicles will primarily be used. In respect of a period in 2005, the Company has unsuccessfully appealed the French Tax assessment to the highest Administrative court in France. In respect of a period from 2003 to 2005, following an adverse judgment, the Company appealed the French Tax Authority’s assessment to the Civil Court of Appeal. This appeal is currently awaiting judgment. In the third quarter of 2015, following an adverse decision against another industry participant involved in a similar action, the Company has recorded charges with respect to this matter of approximately $23 million during 2015. The Company has established reserves for matters where the Company believes that losses are probable and can be reasonably estimated. Other than the aggregate reserve established for claims for public liability and property damage, none of those reserves are material. For matters, including certain of those described above, where the Company has not established a reserve, the ultimate outcome or resolution cannot be predicted at this time, or the amount of ultimate loss, if any, cannot be reasonably estimated. Litigation is subject to many uncertainties and the outcome of the individual litigated matters is not predictable with assurance. It is possible that certain of the actions, claims, inquiries or proceedings, including those discussed above, could be decided unfavorably to the Company or any of its subsidiaries involved. Accordingly, it is possible that an adverse outcome from such a proceeding could exceed the amount accrued in an amount that could be material to the 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 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 has entered into customary indemnification agreements with Hertz Holdings, those certain private investment funds (collectively, the "Sponsors") who through Hertz Investors Inc., acquired all of Hertz common stock from Ford Holdings LLC in 2006 and former stockholders affiliated with the Sponsors, pursuant to which Hertz Holdings and Hertz will indemnify the Sponsors, its former stockholders affiliated with the Sponsors 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 the Sponsors and certain other claims and liabilities, including liabilities arising out of financing arrangements or securities offerings. The Company has also entered into customary indemnification agreements with each of its directors. Performance under these indemnification obligations would generally be triggered by a breach of terms of the contract or by a third party claim. The Company regularly evaluates the probability of having to incur costs associated with these indemnification obligations and have accrued for expected losses that are probable and estimable.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Agreements with the Icahn Group On September 15, 2014, Hertz Holdings entered into a definitive Nomination and Standstill Agreement (the “Nomination and Standstill Agreement”) with Mr. Carl C. Icahn, High River Limited Partnership, Hopper Investments LLC, Barberry Corp., Icahn Partners LP, Icahn Partners Master Fund LP, Icahn Enterprises G.P. Inc., Icahn Enterprises Holdings L.P., IPH GP LLC, Icahn Capital LP, Icahn Onshore LP, Icahn Offshore LP, Beckton Corp., Vincent J. Intrieri, Samuel Merksamer and Daniel A. Ninivaggi (collectively, the “Icahn Group”). Pursuant to the Nomination and Standstill Agreement, Mr. Vincent J. Intrieri, Mr. Samuel Merskamer and Mr. Daniel A. Ninivaggi (collectively, the “Icahn Designees”) were appointed to the Board of Directors of Hertz Holdings as Class II, Class I and Class I directors respectively effective as of September 15, 2014. Messrs. Intrieri, Merksamer and Ninivaggi were also appointed to the Board of Directors of Hertz. Pursuant to the Nomination and Standstill Agreement, so long as an Icahn Designee is a member of the Board, the Board will not be expanded to greater than ten directors without the approval from the Icahn Designees then on the Board. In addition, pursuant to the Nomination and Standstill Agreement, subject to certain restrictions and requirements, the Icahn Group will have certain replacement rights in the event an Icahn Designee resigns or is otherwise unable to serve as a director (other than as a result of not being nominated by Hertz Holdings for an annual meeting subsequent to Hertz Holdings' 2015 annual meeting of stockholders). Until the date that no Icahn Designee is a member of the Board (or otherwise deemed to be on the Board pursuant to the terms of the Nomination and Standstill Agreement) (the “Board Representation Period”), the Icahn Group agrees to vote all of its shares of common stock of Hertz Holdings in favor of the election of all of Hertz Holdings’ director nominees at each annual or special meeting of Hertz Holdings. Also pursuant to the Nomination and Standstill Agreement, during the Board Representation Period, and subject to limited exceptions, the Icahn Group will adhere to certain standstill obligations, including the obligation to not solicit proxies or consents or influence others with respect to the same. The Icahn Group further agrees that during the Board Representation Period, subject to certain limited exceptions, the Icahn Group will not acquire or otherwise beneficially own more than 20% of Hertz Holdings’ outstanding voting securities. In addition, pursuant to the Nomination and Standstill Agreement, the Board agreed not to create a separate executive committee of the board so long as an Icahn Designee is a member of the Board. If at any time the Icahn Group ceases to hold a “net long” position, as defined in the Nomination and Standstill Agreement, in at least (A) 28,500,000 shares of Hertz Holdings’ common stock, the Icahn Group will cause one Icahn Designee to promptly resign from the Board; (B) 22,800,000 shares of Hertz Holdings’ common stock, the Icahn Group will cause two Icahn Designees to promptly resign from the Board; and (C) 19,000,000 shares of Hertz Holdings’ common stock, the Icahn Group will cause all of the Icahn Designees to promptly resign from the Board and Hertz Holdings’ obligations under the Nomination and Standstill Agreement will terminate. Pursuant to the Nomination and Standstill Agreement, the Company and the Icahn Group entered into a confidentiality agreement pursuant to which the Icahn Group agreed to treat any and all information concerning or relating to Hertz Holdings or any of its subsidiaries or affiliates furnished to the Icahn Group or their representatives as confidential. In addition, the Company and the Icahn Group agreed to enter into a customary registration rights agreement. Transactions with Hertz Holdings In November 2014, the Company signed a master loan agreement with Hertz Holdings for a facility size of $125 million with an expiration in November 2015 (the "Master Loan"). The interest rate is based on the U.S. Dollar LIBOR rate plus a margin. In August 2015, the Master Loan was amended to increase the facility size to $425 million . In October 2015, the board of directors of the Company approved, and Hertz paid, a non-cash dividend to Hertz Investors, Inc. consisting of the full rights to a receivable due from Hertz Holdings under the Master Loan in the amount of $365 million plus accrued interest. Hertz Investors, Inc. declared and paid the same dividend to Hertz Holdings; thereby settling the amount receivable from Hertz Holdings at the time. In November 2015, upon expiration of the Master Loan, as amended, the Company signed a new master loan agreement with Hertz Holdings for a facility size of $650 million with an expiration in November 2016 (the "New Master Loan" and together with the Master Loan, the "Loan"). The interest rate is based on the U.S. Dollar LIBOR rate plus a margin. As of December 31, 2015 and 2014 , there was $345 million and $95 million due from Hertz Holdings, respectively, representing principal and interest amounts due under the Loan. Other Relationships In connection with its car and equipment rental businesses, the Company enters into millions of rental transactions every year involving millions of customers. In order to conduct those businesses, the Company also procures goods and services from thousands of vendors. Some of those customers and vendors may be affiliated with members of the Company's Board. The Company believes that all such rental and procurement transactions have been conducted on an arms‑length basis and involved terms no less favorable to the Company than those that it believes would have been obtained in the absence of such affiliation. It is Company management’s policy to bring to the attention of its Board any transaction with a related party, even if the transaction arises in the ordinary course of business, if the terms of the transaction would be less favorable to the Company than those to which it would agree to in normal commercial circumstances.

Guarantor and Non-Guarantor Con

Guarantor and Non-Guarantor Condensed Consolidating Financial Statements	12 Months Ended
	Dec. 31, 2015
Guarantor and Non-Guarantor Condensed Consolidating Financial Statements Disclosure
Guarantor and Non-Guarantor Condensed Consolidating Financial Statements	Guarantor and Non-Guarantor Annual Condensed Consolidating Financial Information The following annual condensed consolidating financial information presents the Condensed Consolidating Balance Sheets as of December 31, 2015 and 2014 and the Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) and Statements of Cash Flows for the years ended December 31, 2015, 2014 and 2013 , of (a) The Hertz Corporation, ("Parent”); (b) the Parent's subsidiaries that guarantee the Parent's indebtedness ("Guarantor Subsidiaries"); (c) the Parent's subsidiaries that do not guarantee the Parent's indebtedness ("Non-Guarantor Subsidiaries"); (d) elimination entries necessary to consolidate the Parent with the Guarantor Subsidiaries and Non-Guarantor Subsidiaries ("Eliminations"); and of (e) the Company on a consolidated basis. In December 2012, pursuant to a consent agreement Hertz Holdings entered into with the Federal Trade Commission in connection with the Dollar Thrifty acquisition, we consummated the Advantage Divestiture. Prior to the Advantage Divestiture, Simply Wheelz, the legal entity associated with Advantage, had been included within these condensed consolidating financial statements as a Guarantor Subsidiary. In February 2013 and March 2013, we added Dollar Thrifty and certain of its subsidiaries as guarantors under certain of our debt instruments and credit facilities. The following condensed consolidating financial information reflects the results of these changes for all periods presented. Investments in subsidiaries are accounted for using the equity method for purposes of the consolidating presentation. The principal elimination entries relate to investments in subsidiaries and intercompany balances and transactions. The Guarantor Subsidiaries are 100% owned by the Parent and all guarantees are full and unconditional and joint and several. Additionally, substantially all of the assets of the Guarantor Subsidiaries are pledged under the Senior Credit Facilities, and consequently will not be available to satisfy the claims of the Company's general creditors. In lieu of providing separate unaudited financial statements for the Guarantor Subsidiaries, we have included the accompanying condensed consolidating financial statements based on Rule 3-10 of the SEC's Regulation S-X. Management does not believe that separate financial statements of the Guarantor Subsidiaries are material to our investors; therefore, separate financial statements and other disclosures concerning the Guarantor Subsidiaries are not presented. During the preparation of the condensed consolidating financial information of The Hertz Corporation and Subsidiaries as of and for the year ended December 31, 2015, it was determined that other intangible assets, net at December 31, 2014 as filed in our 2014 Annual Report were improperly classified, resulting in a $564 million overstatement of these assets and equity for the Non-Guarantor Subsidiaries and a corresponding understatement of these assets and equity for the Guarantor Subsidiaries. The Condensed Consolidated Balance Sheets as of March 31, 2015, June 30, 2015 and September 30, 2015 included in the Guarantor and Non-Guarantor Condensed Consolidating Financial Statements contained the same error of $564 million with respect to classification of intangible assets, net. Additionally, it was determined that the investment in subsidiaries, net and equity at December 31, 2014 for the Guarantor Subsidiaries was understated by $94 million with a corresponding overstatement of this asset and equity in Eliminations. The Condensed Consolidated Balance Sheets as of March 31, 2015, June 30, 2015 and September 30, 2015 included in the Guarantor and Non-Guarantor Condensed Consolidating Financial Statements were impacted by the same error with respect to classification of investment in subsidiaries, net and equity in that the amounts for the Guarantor Subsidiaries were overstated by $85 million , $219 million , and $400 million , respectively, with corresponding understatements of this asset and equity in Eliminations. The classification errors, which the Company has determined are not material to this disclosure, are eliminated upon consolidation and, therefore, have no impact on the Company's consolidated financial condition, results of operations, or cash flows. We have revised the Guarantor, Non-Guarantor, and Eliminations Condensed Consolidated Balance Sheets as of December 31, 2014 to correct for these errors. Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries ASSETS Cash and cash equivalents $ 2 $ 14 $ 474 $ — $ 490 Restricted cash and cash equivalents 84 26 461 — 571 Receivables, net of allowance 272 419 906 — 1,597 Due from affiliates 2,957 1,528 4,395 (8,785 ) 95 Inventories, net 20 25 22 — 67 Prepaid expenses and other assets 3,900 831 87 (3,901 ) 917 Revenue earning equipment, net 306 1,988 11,359 — 13,653 Property and equipment, net 730 308 284 — 1,322 Investment in subsidiaries, net 6,897 1,607 — (8,504 ) — Other intangible assets, net 179 3,777 53 — 4,009 Goodwill 104 1,033 222 — 1,359 Total assets $ 15,451 $ 11,556 $ 18,263 $ (21,190 ) $ 24,080 LIABILITIES AND EQUITY Due to affiliates $ 5,702 $ 1,005 $ 2,078 $ (8,785 ) $ — Accounts payable 65 212 731 — 1,008 Accrued liabilities 599 231 318 — 1,148 Accrued taxes 62 31 2,252 (2,211 ) 134 Debt 6,393 74 9,526 — 15,993 Public liability and property damage 135 57 193 — 385 Deferred taxes on income, net — 2,541 2,066 (1,690 ) 2,917 Total liabilities 12,956 4,151 17,164 (12,686 ) 21,585 Equity: Stockholder's equity 2,495 7,405 1,099 (8,504 ) 2,495 Total liabilities and equity $ 15,451 $ 11,556 $ 18,263 $ (21,190 ) $ 24,080 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Total revenues $ 4,618 $ 2,788 $ 5,729 $ (2,600 ) $ 10,535 Expenses: Direct operating 2,886 1,510 1,502 (2 ) 5,896 Depreciation of revenue earning equipment and lease charges, net 1,951 934 2,474 (2,597 ) 2,762 Selling, general and administrative 522 215 309 (1 ) 1,045 Interest expense, net 352 13 254 — 619 Other (income) expense, net — 42 (173 ) — (131 ) Total expenses 5,711 2,714 4,366 (2,600 ) 10,191 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (1,093 ) 74 1,363 — 344 (Provision) benefit for taxes on income (loss) 261 (27 ) (302 ) — (68 ) Equity in earnings (losses) of subsidiaries, net of tax 1,108 261 — (1,369 ) — Net income (loss) $ 276 $ 308 $ 1,061 $ (1,369 ) $ 276 Other comprehensive income (loss), net of tax (130 ) (4 ) (114 ) 118 (130 ) Comprehensive income (loss) $ 146 $ 304 $ 947 $ (1,251 ) $ 146 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2014 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Total revenues $ 4,703 $ 2,799 $ 6,601 $ (3,057 ) $ 11,046 Expenses: Direct operating 2,989 1,523 1,804 (2 ) 6,314 Depreciation of revenue earning equipment and lease charges, net 2,510 766 2,809 (3,051 ) 3,034 Selling, general and administrative 528 216 348 (4 ) 1,088 Interest expense, net 344 20 277 — 641 Other (income) expense, net (22 ) (5 ) 12 — (15 ) Total expenses 6,349 2,520 5,250 (3,057 ) 11,062 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (1,646 ) 279 1,351 — (16 ) (Provision) benefit for taxes on income (loss) 612 (150 ) (524 ) — (62 ) Equity in earnings (losses) of subsidiaries, net of tax 956 114 — (1,070 ) — Net income (loss) $ (78 ) $ 243 $ 827 $ (1,070 ) $ (78 ) Other comprehensive income (loss), net of tax (121 ) (6 ) (112 ) 118 (121 ) Comprehensive income (loss) $ (199 ) $ 237 $ 715 $ (952 ) $ (199 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2013 (In millions) Parent Guarantor Non- Eliminations The Hertz Total revenues $ 4,552 $ 2,678 $ 6,712 $ (3,167 ) $ 10,775 Expenses: Direct operating 2,576 1,468 1,735 (2 ) 5,777 Depreciation of revenue earning equipment and lease charges, net 2,723 656 2,316 (3,162 ) 2,533 Selling, general and administrative 510 214 332 (3 ) 1,053 Interest expense, net of interest income 337 34 298 — 669 Other (income) expense, net 51 (6 ) 19 — 64 Total expenses 6,197 2,366 4,700 (3,167 ) 10,096 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (1,645 ) 312 2,012 — 679 (Provision) benefit for taxes on income (loss) 619 (130 ) (818 ) — (329 ) Equity in earnings (losses) of subsidiaries, net of tax 1,376 155 — (1,531 ) — Net income (loss) $ 350 $ 337 $ 1,194 $ (1,531 ) $ 350 Other comprehensive income (loss), net of tax 29 (7 ) (21 ) 28 29 Comprehensive income (loss) $ 379 $ 330 $ 1,173 $ (1,503 ) $ 379 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2015 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Net cash provided by (used in) operating activities $ (1,485 ) $ 245 $ 5,096 $ (524 ) $ 3,332 Cash flows from investing activities: Net change in restricted cash and cash equivalents 25 7 183 — 215 Revenue earning equipment expenditures (434 ) (603 ) (11,621 ) — (12,658 ) Proceeds from disposal of revenue earning equipment 303 161 9,159 — 9,623 Capital asset expenditures, non-fleet (154 ) (68 ) (105 ) — (327 ) Proceeds from disposal of property and equipment 53 13 49 — 115 Sales of (investment in) shares in equity method investment — — 236 — 236 Capital contributions to subsidiaries (2,650 ) (181 ) — 2,831 — Return of capital from subsidiaries 4,634 443 — (5,077 ) — Loan to Parent / Guarantor from Non-Guarantor — — (737 ) 737 — Acquisitions, net of cash acquired (17 ) (3 ) (75 ) — (95 ) Proceeds from disposal of business — — 126 — 126 Advances to Hertz Global Holdings, Inc. (267 ) — — — (267 ) Net cash provided by (used in) investing activities 1,493 (231 ) (2,785 ) (1,509 ) (3,032 ) Cash flows from financing activities: Proceeds from issuance of long-term debt 2 — 1,674 — 1,676 Repayment of long-term debt (23 ) — (1,270 ) — (1,293 ) Short-term borrowings: Proceeds — — 623 — 623 Payments — — (617 ) — (617 ) Proceeds under the revolving lines of credit 1,892 — 5,205 — 7,097 Payments under the revolving lines of credit (2,091 ) (8 ) (5,294 ) — (7,393 ) Capital contributions received from parent — — 2,831 (2,831 ) — Loan to Parent / Guarantor From Non-Guarantor 737 — — (737 ) — Payment of dividends and return of capital — — (5,601 ) 5,601 — Payment of financing costs (4 ) (3 ) (22 ) — (29 ) Advances to Hertz Global Holdings, Inc. (344 ) — — — (344 ) Other — — — — — Net cash provided by (used in) financing activities 169 (11 ) (2,471 ) 2,033 (280 ) Effect of foreign exchange rate changes on cash and cash equivalents — — (31 ) — (31 ) Net increase (decrease) in cash and cash equivalents during the period 177 3 (191 ) — (11 ) Cash and cash equivalents at beginning of period 2 14 474 — 490 Cash and cash equivalents at end of period $ 179 $ 17 $ 283 $ — $ 479 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2014 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Net cash provided by (used in) operating activities $ (387 ) $ 456 $ 4,425 $ (1,037 ) $ 3,457 Cash flows from investing activities: Net change in restricted cash and cash equivalents (27 ) 45 265 — 283 Revenue earning equipment expenditures (243 ) (596 ) (10,450 ) — (11,289 ) Proceeds from disposal of revenue earning equipment 183 261 7,765 — 8,209 Capital asset expenditures, non-fleet (195 ) (54 ) (125 ) — (374 ) Proceeds from disposal of property and equipment 43 17 33 — 93 Capital contributions to subsidiaries (1,614 ) (37 ) — 1,651 — Return of capital from subsidiaries 1,722 — — (1,722 ) — Loan to Parent / Guarantor from Non-Guarantor — (43 ) (437 ) 480 — Acquisitions, net of cash acquired — (28 ) (47 ) — (75 ) Equity method investment — — (30 ) — (30 ) Repayments of loans with Hertz Global Holdings, Inc. (28 ) — — — (28 ) Proceeds from loans with Hertz Global Holdings, Inc. 25 — — — 25 Net cash provided by (used in) investing activities (134 ) (435 ) (3,026 ) 409 (3,186 ) Cash flows from financing activities: Proceeds from issuance of long-term debt — — 400 — 400 Repayment of long-term debt (42 ) — (1,141 ) — (1,183 ) Short-term borrowings: Proceeds — — 626 — 626 Payments — — (726 ) — (726 ) Proceeds under the revolving lines of credit 2,507 — 3,357 — 5,864 Payments under the revolving lines of credit (2,431 ) (10 ) (2,640 ) — (5,081 ) Capital contributions received — — 1,651 (1,651 ) — Loan to Parent / Guarantor From Non-Guarantor 437 — 43 (480 ) — Payment of dividends and return of capital — — (2,759 ) 2,759 — Payment of financing costs (12 ) (3 ) (48 ) — (63 ) Other 2 — — — 2 Net cash provided by (used in) financing activities 461 (13 ) (1,237 ) 628 (161 ) Effect of foreign exchange rate changes on cash and cash equivalents — — (31 ) — (31 ) Net increase (decrease) in cash and cash equivalents during the period (60 ) 8 131 — 79 Cash and cash equivalents at beginning of period 62 6 343 — 411 Cash and cash equivalents at end of period $ 2 $ 14 $ 474 $ — $ 490 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2013 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Net cash provided by (used in) operating activities $ 164 $ 540 $ 3,827 $ (916 ) $ 3,615 Cash flows from investing activities: Net change in restricted cash and cash equivalents (24 ) (60 ) (231 ) — (315 ) Revenue earning equipment expenditures (138 ) (889 ) (9,262 ) — (10,289 ) Proceeds from disposal of revenue earning equipment 126 353 6,777 — 7,256 Capital asset expenditures, non-fleet (198 ) (40 ) (89 ) — (327 ) Proceeds from disposal of property and equipment 50 6 25 — 81 Capital contributions to subsidiaries (938 ) — — 938 — Return of capital from subsidiaries 1,134 183 — (1,317 ) — Loan to Parent / Guarantor from Non-Guarantor — (57 ) (196 ) 253 — Acquisitions, net of cash acquired — (15 ) (26 ) — (41 ) Equity method investment — — (213 ) — (213 ) Repayments of loans with Hertz Global Holdings, Inc. (129 ) — — — (129 ) Proceeds from loans with Hertz Global Holdings, Inc. 49 — — — 49 Other — — (2 ) — (2 ) Net cash provided by (used in) investing activities (68 ) (519 ) (3,217 ) (126 ) (3,930 ) Cash flows from financing activities: Proceeds from issuance of long-term debt 250 — 2,025 — 2,275 Repayment of long-term debt (34 ) — (1,011 ) — (1,045 ) Short-term borrowings: Proceeds — — 596 — 596 Payments — — (1,018 ) — (1,018 ) Proceeds under the revolving lines of credit 2,280 3 6,729 — 9,012 Payments under the revolving lines of credit (2,322 ) (14 ) (6,768 ) — (9,104 ) Capital contributions received — — 938 (938 ) — Loan to Parent / Guarantor From Non-Guarantor 253 — — (253 ) — Payment of dividends and return of capital (482 ) — (2,233 ) 2,233 (482 ) Payment of financing costs (9 ) (10 ) (35 ) — (54 ) Other 5 — — — 5 Net cash provided by (used in) financing activities (59 ) (21 ) (777 ) 1,042 185 Effect of foreign exchange rate changes on cash and cash equivalents — — — — — Net increase (decrease) in cash and cash equivalents during the period 37 — (167 ) — (130 ) Cash and cash equivalents at beginning of period 25 6 510 — 541 Cash and cash equivalents at end of period $ 62 $ 6 $ 343 $ — $ 411

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has identified four reportable segments, which are organized based on the products and services provided by its operating segments and the geographic areas in which its operating segments conduct business, as follows: • U.S. Car Rental - rental of cars, crossovers and light trucks, as well as ancillary products and services, in the United States and consists of the Company's United States operating segment; • International Car Rental - rental and leasing of cars, crossovers and light trucks, as well as ancillary products and services, internationally and consists of the Company's Europe and Other International operating segments, which are aggregated into a reportable segment based primarily upon similar economic characteristics, products and services, customers, delivery methods and general regulatory environments; • Worldwide Equipment Rental - rental of industrial construction, material handling and other equipment and consists of the Company's worldwide equipment rental operating segment; and • All Other Operations - includes the Company's Donlen operating segment which provides fleet leasing and fleet management services and is not considered a separate reportable segment in accordance with applicable accounting standards, together with other business activities. In addition to the above reportable segments, the Company has corporate operations ("Corporate") which includes general corporate assets and expenses and certain interest expense (including net interest on corporate debt). Adjusted pre-tax income (loss) is calculated as income (loss) before income taxes plus non-cash acquisition accounting charges, debt-related charges relating to the amortization and write-off of debt financing costs and debt discounts and certain one-time charges and non-operational items. Adjusted pre-tax income (loss) is important because it allows management to assess operational performance of its business, exclusive of the items mentioned above. It also allows management to assess the performance of the entire business on the same basis as the segment measure of profitability. Management believes that it is important to investors for the same reasons it is important to management and because it allows them to assess the Company's operational performance on the same basis that management uses internally. When evaluating the Company's operating performance, investors should not consider adjusted pre-tax income (loss) in isolation of, or as a substitute for, measures of the Company's financial performance, such as net income (loss) or income (loss) before income taxes. The contribution of the Company's reportable segments to revenues and adjusted pre-tax income (loss) and the reconciliation to consolidated amounts are summarized below. Years Ended December 31, (In millions) 2015 2014 2013 Revenues U.S. car rental $ 6,286 $ 6,471 $ 6,331 International car rental 2,148 2,436 2,378 Worldwide equipment rental 1,518 1,571 1,539 All other operations 583 568 527 Total $ 10,535 $ 11,046 $ 10,775 Adjusted pre-tax income (a) U.S. car rental $ 551 $ 387 $ 1,033 International car rental 215 144 134 Worldwide equipment rental 189 258 301 All other operations 68 62 58 Corporate (448 ) (443 ) (401 ) Total $ 575 $ 408 $ 1,125 Depreciation of revenue earning equipment and lease charges, net U.S. car rental $ 1,572 $ 1,758 $ 1,281 International car rental 398 492 528 Worldwide equipment rental 329 329 299 All other operations 463 455 425 Total $ 2,762 $ 3,034 $ 2,533 Depreciation and amortization, non-fleet assets U.S. car rental $ 209 $ 222 $ 207 International car rental 37 41 37 Worldwide equipment rental 77 75 74 All other operations 10 11 10 Corporate 19 17 11 Total $ 352 $ 366 $ 339 Interest expense, net U.S. car rental $ 165 $ 172 $ 187 International car rental 70 95 113 Worldwide equipment rental 57 53 46 All other operations 10 12 14 Corporate 317 309 309 Total $ 619 $ 641 $ 669 Years Ended December 31, (In millions) 2015 2014 2013 Revenue earning equipment and capital assets, non-fleet U.S. car rental: Expenditures $ (7,930 ) $ (6,175 ) $ (6,242 ) Proceeds from disposals 6,280 4,530 4,385 Net expenditures $ (1,650 ) $ (1,645 ) $ (1,857 ) International car rental: Expenditures $ (2,887 ) $ (3,165 ) $ (2,640 ) Proceeds from disposals 2,412 2,531 2,251 Net expenditures $ (475 ) $ (634 ) $ (389 ) Worldwide equipment rental: Expenditures $ (670 ) $ (658 ) $ (694 ) Proceeds from disposals 156 197 141 Net expenditures $ (514 ) $ (461 ) $ (553 ) All other operations: Expenditures $ (1,397 ) $ (1,611 ) $ (1,012 ) Proceeds from disposals 841 1,010 556 Net expenditures $ (556 ) $ (601 ) $ (456 ) Corporate: Expenditures $ (101 ) $ (54 ) $ (28 ) Proceeds from disposals 49 34 4 Net expenditures $ (52 ) $ (20 ) $ (24 ) As of December 31, (In millions) 2015 2014 Total assets at end of year U.S. car rental $ 13,614 $ 13,712 International car rental 3,007 3,358 Worldwide equipment rental 3,809 3,836 All other operations 1,522 1,458 Corporate 1,401 1,716 Total $ 23,353 $ 24,080 Revenue earning equipment, net, at end of year U.S. car rental $ 7,600 $ 8,070 International car rental 1,858 1,904 Worldwide equipment rental 2,382 2,442 All other operations 1,288 1,237 Total $ 13,128 $ 13,653 Property and equipment, net, at end of year U.S. car rental $ 730 $ 789 International car rental 135 155 Worldwide equipment rental 247 265 All other operations 5 6 Corporate 131 107 Total $ 1,248 $ 1,322 The Company operates in the United States and in international countries. International operations are substantially in Europe. The operations within major geographic areas are summarized below: Years Ended December 31, (In millions) 2015 2014 2013 Revenues United States $ 8,066 $ 8,158 $ 7,921 International 2,469 2,888 2,854 Total $ 10,535 $ 11,046 $ 10,775 As of December 31, (In millions) 2015 2014 Total assets at end of year United States $ 18,881 $ 19,172 International 4,472 4,908 Total $ 23,353 $ 24,080 Revenue earning equipment, net, at end of year United States $ 10,938 $ 11,235 International 2,190 2,418 Total $ 13,128 $ 13,653 Property and equipment, net, at end of year United States $ 1,081 $ 1,118 International 167 204 Total $ 1,248 $ 1,322 (a) The following table reconciles adjusted pre-tax income to income before income taxes. Years Ended December 31, (In millions) 2015 2014 2013 Adjusted pre-tax income (loss): U.S. car rental $ 551 $ 387 $ 1,033 International car rental 215 144 134 Worldwide equipment rental 189 258 301 All other operations 68 62 58 Total reportable segments 1,023 851 1,526 Corporate (1) (448 ) (443 ) (401 ) Consolidated adjusted pre-tax income (loss) 575 408 1,125 Adjustments: Acquisition accounting (2) (124 ) (132 ) (132 ) Debt-related charges (3) (63 ) (51 ) (49 ) Restructuring and restructuring related charges (4) (96 ) (159 ) (99 ) Acquisition related costs and charges (5) (3 ) (10 ) (19 ) Integration expenses (6) (5 ) (9 ) (43 ) Equipment Rental spin-off costs (7) (35 ) (39 ) — Relocation costs (8) (5 ) (9 ) (7 ) Premiums paid on debt (9) — — (29 ) Loss on extinguishment of debt (10) — (1 ) (7 ) Sale of CAR Inc. common stock (11) 133 — — Gain on divestitures (12) 51 — — Impairment charges and asset write-downs (13) (57 ) (34 ) (40 ) Other (14) (27 ) 20 (21 ) Income (loss) before income taxes $ 344 $ (16 ) $ 679 (1) Represents general corporate expenses, certain interest expense (including net interest on corporate debt), as well as other business activities. (2) Represents the increase in amortization of other intangible assets, depreciation of property and equipment and accretion of revalued liabilities relating to acquisition accounting. (3) Represents debt-related charges relating to the amortization of deferred debt financing costs and debt discounts and premiums. (4) Represents expenses incurred under restructuring actions as defined in U.S. GAAP. For further information on restructuring costs, see Note 11 " Restructuring ," to the Notes to our consolidated financial statements. Also represents incremental costs incurred directly supporting the Company's business transformation initiatives. Such costs include transition costs incurred in connection with its business process outsourcing arrangements and incremental costs incurred to facilitate business process re-engineering initiatives that involve significant organization redesign and extensive operational process changes. Amounts in 2015 and 2014 also includes consulting costs and legal fees related to the accounting review and investigation, one time costs to terminate certain marketing and co-branding agreements, and costs associated with the separation of certain executives during the year. (5) Acquisition related costs and charges during the period. (6) Primarily represents Dollar Thrifty integration related expenses. (7) Represents expenses associated with the anticipated HERC spin-off transaction announced in March 2014. In 2015, $26 million were incurred by HERC and $9 million by Corporate. In 2014, $28 million were incurred by HERC and $11 million by Corporate. (8) Represents non-recurring costs incurred in connection with the relocation of the Company's corporate headquarters to Estero, Florida that were not included in restructuring expenses. Such expenses primarily include duplicate facility rent, certain moving expenses, and other costs that are direct and incremental due to the relocation. (9) In 2013, represents premiums paid to redeem the Company's 8.50% Former European Fleet Notes. (10) In 2013, represents extinguishment of debt for Senior Convertible Notes. (11) In 2015, represents the pre-tax gain on the sale of approximately 138 million shares of CAR Inc. common stock. (12) In 2015, represents the pre-tax gain on the sale of our HERC France and Spain businesses. (13) In 2015, primarily comprised of a $40 million write down of the HERC trade name. Also includes a $6 million impairment on the former Dollar Thrifty headquarters in Tulsa, Oklahoma, a $5 million impairment on a building in the U.S. Car Rental segment, $3 million impairment on a held for sale corporate asset, and write downs of $3 million associated with U.S. Car Rental service equipment and assets. In 2014, primarily comprised of a $13 million impairment related to our former corporate headquarters building in New Jersey, a $10 million impairment of HERC revenue earning equipment held for sale and a $10 million impairment of assets related to a contract termination. In 2013, primarily related to a $40 million impairment in the carrying value of the vehicles subleased to FSNA and its subsidiary, Simply Wheelz. (14) Includes miscellaneous, non-recurring or non-cash items. For 2015, primarily represents a charge of $23 million recorded in relation to a French road tax matter. In 2014 , primarily comprised of a $19 million litigation settlement received in relation to a class action lawsuit filed against an original equipment manufacturer. In 2013, primarily represents cash premiums of $12 million associated with the conversion of the Senior Convertible Notes and $5 million of depreciation expense related to HERC.

Quarterly Financial Information

Quarterly Financial Information (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information (Unaudited)	Quarterly Financial Information (Unaudited) In the third quarter of 2015, the Company identified various misstatements relating to prior period financial statements that it corrected during that quarter. The cumulative impact of the adjustments on the results for the three months ended September 30, 2015 was a decrease to pre-tax income of approximately $18 million (of which $13 million relates to years prior to 2015) and a decrease to net earnings of approximately $13 million . The adjustments are comprised of $4 million related to the accounting for the post-acquisition sale of land that was revalued as part of the December 2005 acquisition of the Company, $4 million of additional accruals for the periods 2009 through 2014 resulting from concession audits at certain airport locations, a $4 million obligation to a jurisdiction for customer transaction fees, $3 million of additional write-offs of assets that were incorrectly capitalized and $3 million of other miscellaneous adjustments. The Company considered both quantitative and qualitative factors in assessing the materiality of the items individually, and in the aggregate, and determined that the misstatements were not material to any prior quarterly period and not material to the three months ended September 30, 2015. Provided below is a summary of the quarterly operating results during 2015 and 2014 . Amounts are computed independently each quarter. As a result, the sum of the quarter's amounts may not equal the total amount for the respective year. First Second Third Fourth (In millions) 2015 2015 2015 2015 Revenues: $ 2,454 $ 2,692 $ 2,976 $ 2,413 Income (loss) before income taxes (86 ) 71 308 50 Net income (loss) (70 ) 36 238 71 First Second Third Fourth (In millions) 2014 2014 2014 2014 Revenues: $ 2,536 $ 2,830 $ 3,121 $ 2,559 Income (loss) before income taxes (59 ) 123 204 (284 ) Net income (loss) (67 ) 73 150 (234 )

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Fleet Debt In February 2016, HVF II issued the Series 2016-1 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D (collectively, the “HVF II Series 2016-1 Notes”) and Series 2016-2 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D (collectively, the “HVF II Series 2016-2 Notes”) in an aggregate principal amount of approximately $1.06 billion . The expected maturities of the HVF II Series 2016-1 Notes and the HVF II Series 2016-2 Notes are March 2019 and March 2021, respectively. The HVF II Series 2016-1 Notes are comprised of approximately $333 million aggregate principal amount of 2.32% Rental Car Asset Backed Notes, Class A, $81 million aggregate principal amount of 3.72% Rental Car Asset Backed Notes, Class B, $25 million aggregate principal amount of 4.75% Rental Car Asset Backed Notes, Class C, and $27 million aggregate principal amount of 5.73% Rental Car Asset Backed Notes, Class D. The HVF II Series 2016-2 Notes are comprised of approximately $425 million aggregate principal amount of 2.95% Rental Car Asset Backed Notes, Class A, $104 million aggregate principal amount of 3.94% Rental Car Asset Backed Notes, Class B, $32 million aggregate principal amount of 4.99% Rental Car Asset Backed Notes, Class C, and $34 million aggregate principal amount of 5.97% Rental Car Asset Backed Notes, Class D. The Class B Notes of each series are subordinated to the Class A Notes of such series. The Class C Notes of each series are subordinated to the Class A Notes and the Class B Notes of such series. The Class D Notes of each series are subordinated to the Class A Notes, the Class B Notes and the Class C Notes of such series. An affiliate of HVF II purchased the Class D Notes of each such series, therefore, approximately $61 million of the obligation is eliminated in consolidation. Approximately $741 million of the proceeds were used to pay down HVF II Fleet Variable Funding Notes Series 2014-A and approximately $264 million was used to pay down HVF II Fleet Variable Funding Notes Series 2013-A. Equity Method Investment The fair value of the Company's CAR, Inc. equity method investment has been negatively impacted by recent volatility in the markets in China and other factors. The fair value of the investment at February 22, 2016 using quoted market prices (Level 1) was $292 million .

SCHEDULE I CONDENSED FINANCIAL

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT	12 Months Ended
	Dec. 31, 2015
Condensed Financial Information of Parent Company Only Disclosure [Abstract]
Schedule I Condensed Financial Information of Registrant	SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT THE HERTZ CORPORATION PARENT COMPANY BALANCE SHEETS (In millions, except for par value and share data) December 31, 2015 2014 ASSETS Cash and cash equivalents $ 179 $ 2 Restricted cash and cash equivalents 57 84 Receivables, net of allowance 399 272 Due from affiliate 4,158 2,957 Inventories, net 15 20 Prepaid expenses and other assets 4,285 3,900 Revenue earning equipment, net 388 306 Property and other equipment, net 777 730 Investments in subsidiaries, net 7,593 6,897 Other intangible assets, net 136 179 Goodwill 102 104 Total assets $ 18,089 $ 15,451 LIABILITIES AND EQUITY Due to affiliate $ 8,888 $ 5,702 Accounts payable 262 65 Accrued liabilities 608 599 Accrued taxes, net 65 62 Debt 6,172 6,393 Public liability and property damage 146 135 Deferred taxes on income, net — — Total liabilities 16,141 12,956 Equity: Common Stock, $0.01 par value, 3,000 shares authorized, 100 shares issued and outstanding — — Additional paid-in capital 3,583 3,566 Due from affiliate (345 ) — Accumulated deficit (1,045 ) (956 ) Accumulated other comprehensive income (loss) (245 ) (115 ) Total equity 1,948 2,495 Total liabilities and equity $ 18,089 $ 15,451 The accompanying notes are an integral part of these financial statements. SCHEDULE I (Continued) CONDENSED FINANCIAL INFORMATION OF REGISTRANT THE HERTZ CORPORATION PARENT COMPANY STATEMENTS OF OPERATIONS (In millions) Years Ended December 31, 2015 2014 2013 Total Revenues $ 4,618 $ 4,703 $ 4,552 Expenses: Direct operating 2,886 2,989 2,576 Depreciation of revenue earning equipment and lease charges, net 1,951 2,510 2,723 Selling, general and administrative 522 528 510 Interest expense, net 352 344 337 Other (income) expense, net — (22 ) 51 Total expenses 5,711 6,349 6,197 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (1,093 ) (1,646 ) (1,645 ) (Provision) benefit for taxes on income (loss) 261 612 619 Equity in earnings (losses) of subsidiaries, net of tax 1,108 956 1,376 Net income (loss) $ 276 $ (78 ) $ 350 The accompanying notes are an integral part of these financial statements. SCHEDULE I (Continued) CONDENSED FINANCIAL INFORMATION OF REGISTRANT THE HERTZ CORPORATION PARENT COMPANY STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (In millions) Years Ended December 31, 2015 2014 2013 Net income (loss) $ 276 $ (78 ) $ 350 Other comprehensive income (loss) (130 ) (121 ) 29 Comprehensive income (loss) $ 146 $ (199 ) $ 379 The accompanying notes are an integral part of these financial statements. SCHEDULE I (Continued) CONDENSED FINANCIAL INFORMATION OF REGISTRANT THE HERTZ CORPORATION PARENT COMPANY STATEMENTS OF CASH FLOWS (In millions) Years Ended December 31, 2015 2014 2013 Net cash provided by (used in) operating activities $ (1,485 ) $ (387 ) $ 164 Cash flows from investing activities: Net change in restricted cash and cash equivalents 25 (27 ) (24 ) Revenue earning equipment expenditures (434 ) (243 ) (138 ) Proceeds from disposal of revenue earning equipment 303 183 126 Property and other equipment expenditures (154 ) (195 ) (198 ) Proceeds from disposal of property and other equipment 53 43 50 Capital contributions to subsidiaries (2,650 ) (1,614 ) (938 ) Return of capital from subsidiaries 4,634 1,722 1,134 Acquisitions, net of cash acquired (17 ) — — Advances to Hertz Global Holdings, Inc. (267 ) (28 ) (129 ) Proceeds from Hertz Global Holdings, Inc. — 25 49 Net cash provided by (used in) investing activities 1,493 (134 ) (68 ) Cash flows from financing activities: Proceeds from issuance of long-term debt 2 — 250 Repayment of long-term debt (23 ) (42 ) (34 ) Short-term borrowings: Proceeds under the revolving lines of credit 1,892 2,507 2,280 Payments under the revolving lines of credit (2,091 ) (2,431 ) (2,322 ) Payment of dividends and return of capital — — (482 ) Loan to parent from Non-Guarantor 737 437 253 Payment of financing costs (4 ) (12 ) (9 ) Advances to Hertz Global Holdings, Inc. (344 ) — — Other — 2 5 Net cash provided by (used in) financing activities 169 461 (59 ) Net increase (decrease) in cash and cash equivalents during the period 177 (60 ) 37 Cash and cash equivalents at beginning of period 2 62 25 Cash and cash equivalents at end of period $ 179 $ 2 $ 62 Supplemental disclosures of non-cash information: Settlement of amount due from affiliate $ 365 $ — $ — The accompanying notes are an integral part of these financial statements. Background and Basis of Presentation The Hertz Corporation (the "Company" or "Hertz") was incorporated in Delaware in 1967. In 2005, Hertz Investors, Inc. acquired all of the common stock of the Company. Hertz Investors, Inc. is wholly owned by Hertz Global Holdings, Inc. ("Hertz Holdings") which serves as the Company's top-level holding company. These condensed parent company financial statements have been prepared in accordance with Rule 12-04, Schedule 1 of Regulation S-X, as the restricted net assets of Hertz and its subsidiaries exceed 25% of the consolidated net assets of the Company. This information should be read in conjunction with the consolidated financial statements of Hertz included in this Annual Report under the caption Item 8, "Financial Statements and Supplementary Data." Contingencies and Debt Obligations For details regarding the debt obligations of Hertz, refer to the corporate debt disclosures in Note 6 , " Debt ," to the Notes to the consolidated financial statements of the Company included in this Annual Report under the caption Item 8, "Financial Statements and Supplementary Data." Of the amounts of corporate debt disclosed in Note 6 , " Debt ," $66 million and $74 million as of December 31, 2015 and 2014 , respectively, are subsidiary obligations. For details regarding material contingencies refer to Note 16 , " Contingencies and Off-Balance Sheet Commitments ," and Note 10 , " Lease and Concession Agreements ," to the Notes to the consolidated financial statements included in this Annual Report under the caption Item 8, "Financial Statements and Supplementary Data." Distributions of Equity In October 2015, the Company paid a non-cash dividend to Hertz Investors, Inc. consisting of the full rights to a receivable due from Hertz Holdings in the amount of $365 million plus accrued interest. Hertz Investors, Inc. declared and paid the same dividend to Hertz Holdings; thereby settling the amount receivable from Hertz Holdings at the time. There were no dividends paid by the Company during 2014. During 2013, the Company declared and paid a $482 million dividend to Hertz Investors, Inc. who then declared and paid the same dividend to Hertz Holdings. The Company's policy is to recognize dividends in retained earnings even in deficit periods. The following table details distributions of equity received by the Company from its subsidiaries during the three years ended December 31, 2015, 2014 and 2013 (in millions of dollars): 2015 2014 2013 Distribution of Equity $ 5,601 $ 2,759 $ 2,233

SCHEDULE II VALUATION AND QUALI

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2015
Valuation and Qualifying Accounts [Abstract]
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS THE HERTZ CORPORATION AND SUBSIDIARIES (In millions) Balance at Beginning of Period Additions Charged to Expense Translation Adjustments Deductions Balance at End of Period Receivables allowances: Year Ended December 31, 2015 $ 67 $ 55 $ (2 ) $ (60 ) (a) $ 60 Year Ended December 31, 2014 62 62 (1 ) (56 ) (a) 67 Year Ended December 31, 2013 53 71 — (62 ) (a) 62 Tax valuation allowances: Year Ended December 31, 2015 $ 231 $ (49 ) $ (27 ) $ (4 ) $ 151 Year Ended December 31, 2014 273 17 (24 ) (35 ) 231 Year Ended December 31, 2013 218 40 15 — 273 (a) Amounts written off, net of recoveries.

Summary of Critical and Signifi

Summary of Critical and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Accounting Principals	Accounting Principles The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of Hertz and its wholly owned and majority owned U.S. and international subsidiaries. In the event that the Company is a primary beneficiary of a variable interest entity, the assets, liabilities, and results of operations of the variable interest entity are included in the Company's consolidated financial statements. The Company accounts for its investment in CAR Inc. and other immaterial investments in joint ventures using the equity method when it has significant influence but not control and is not the primary beneficiary. All significant intercompany transactions have been eliminated in consolidation.
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of financial statements in conformity with U.S.GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes. Actual results could differ materially from those estimates. Significant estimates inherent in the preparation of the consolidated financial statements include depreciation of revenue earning equipment, reserves for litigation and other contingencies, accounting for income taxes and related uncertain tax positions, pension and postretirement benefit costs, the fair value of assets and liabilities acquired in business combinations, the recoverability of long-lived assets, useful lives and impairment of long-lived tangible and intangible assets including goodwill, valuation of stock-based compensation, public liability and property damage reserves, reserves for restructuring, allowance for doubtful accounts, and fair value of financial instruments, among others .
Revenue Earning Equipment and Property, Plant and Equipment	Revenue Earning Equipment Revenue earning equipment is stated at cost, net of related discounts. Generally, holding periods are as follows: Rental cars 6 to 36 months Other equipment 24 to 108 months Incentives received from the manufacturers for purchases of vehicles or equipment reduce the capitalized cost. Generally, when revenue earning equipment is acquired outside of a car repurchase program, the Company estimates the period that the Company will hold the asset, primarily based on historical measures of the amount of rental activity (e.g., automobile mileage and equipment usage) and the targeted age of equipment at the time of disposal. The Company also estimates the residual value of the applicable revenue earning equipment at the expected time of disposal. The residual values for rental vehicles are affected by many factors, including make, model and options, age, physical condition, mileage, sale location, time of the year and channel of disposition (e.g., auction, retail, dealer direct). The residual value for rental equipment is affected by factors which include equipment age and amount of usage. Depreciation is recorded over the estimated holding period. Depreciation rates are reviewed on a quarterly basis based on management's ongoing assessment of present and estimated future market conditions, their effect on residual values at the time of disposal and the estimated holding periods. Market conditions for used vehicle and equipment sales can also be affected by external factors such as the economy, natural disasters, fuel prices and incentives offered by manufacturers of new cars. These key factors are considered when estimating future residual values and assessing depreciation rates. As a result of this ongoing assessment, the Company makes periodic adjustments to depreciation rates of revenue earning equipment in response to changing market conditions. Upon disposal of revenue earning equipment, depreciation expense is adjusted for the difference between the net proceeds received and the remaining net book value. Under the Company's car repurchase programs, the manufacturers agree to repurchase cars at a specified price or guarantee the depreciation rate on the cars during established repurchase or auction periods, subject to, among other things, certain car condition, mileage and holding period requirements. Guaranteed depreciation programs guarantee on an aggregate basis the residual value of the cars covered by the programs upon sale according to certain parameters which include the holding period, mileage and condition of the cars. We record a provision for excess mileage and car condition, as necessary, during the holding period. These repurchase and guaranteed depreciation programs limit the Company's residual risk with respect to cars purchased under the programs and allow us to determine depreciation expense in advance, however, typically the acquisition cost is higher for these program cars. Donlen's revenue earning equipment is leased under long term agreements with its customers. These leases contain provisions whereby Donlen has a contracted residual value guaranteed by the lessee, such that it does not experience any gains or losses on the disposal of these vehicles. Donlen accounts for its lease contracts using the appropriate lease classifications. The Company continually evaluates revenue earning equipment to determine whether events or changes in circumstances have occurred that may warrant revision of the estimated useful life or whether the equipment should be evaluated for possible impairment. The Company uses a combination of the undiscounted cash flows and market approaches in assessing whether an asset has been impaired. The Company measures impairment losses based upon the amount by which the carrying amount of the asset exceeds the fair value. Property and Equipment Property and equipment are stated at cost and are depreciated utilizing the straight-line method over the estimated useful lives of the related assets. Useful lives are as follows: Buildings 5 to 50 years Furniture and fixtures 1 to 15 years Service cars and service equipment 1 to 13 years Leasehold improvements The lesser of the economic life or the lease term The Company follows the practice of charging maintenance and repairs, including the cost of minor replacements, to maintenance expense. Costs of major replacements of units of property are capitalized to property and equipment accounts and depreciated.
Public Liability and Property Damage	Insurance Liabilities Insurance liabilities on the Company's consolidated balance sheets include public liability, property damage, liability insurance supplement, personal accident insurance, and personal effects coverage claims for which the Company is self-insured. The insurance liabilities represent an estimate for both reported accident claims not yet paid, and claims incurred but not yet reported. The related liabilities are recorded on a non-discounted basis. Reserve requirements are based on rental volume and actuarial evaluations of historical accident claim experience and trends, as well as future projections of ultimate losses, expenses, premiums and administrative costs. The adequacy of the liability is regularly monitored based on evolving accident claim history and insurance related state legislation changes. If the Company's estimates change or if actual results differ from these assumptions, the amount of the recorded liability is adjusted to reflect these results.
Defined Benefit Pension Plans and Other Employee Benefits	Defined Benefit Pension Plans and Other Employee Benefits The Company has defined benefit plans worldwide. The Company also participates in multi-employer defined benefit plans for which Hertz is not the sponsor. For the Company sponsored plans, the relevant accounting guidance requires that management make certain assumptions relating to discount rates, salary growth, long-term return on plan assets, retirement rates, mortality rates and other factors. The Company believes that the accounting estimates related to its pension are critical accounting estimates, because they are susceptible to change from period to period based on the performance of plan assets, actuarial valuations, market conditions and contracted benefit changes. The selection of assumptions is based on historical trends and known economic and market conditions at the time of valuation, as well as independent studies of trends performed by the Company’s actuaries. However, actual results may differ substantially from the estimates that were based on the critical assumptions. The Company uses a December 31 measurement date for all of the plans. The Company utilizes fair value to calculate the market-related value of pension assets for the U.S. Plan for purposes of determining the expected return on plan assets and accounting for asset gains and losses. Actual results that differ from the Company's assumptions are accumulated and amortized over future periods and, therefore, generally affect its recognized expense in such future periods. Significant differences in actual experience or significant changes in assumptions would affect the Company's pension costs and obligations. The Company recognizes the funded status of each defined benefit pension plan in the consolidated balance sheet. Each overfunded plan is recognized as an asset, and each underfunded plan is recognized as a liability. Pension plan liabilities are revalued annually based on updated assumptions and information about the individuals covered by the plan. For pension plans, if accumulated actuarial gains and losses are in excess of a 10 percent corridor, the excess is amortized on a straight-line basis over the average remaining service period of active participants. Prior service cost and the transition asset are amortized on a straight-line basis from the date recognized over the average remaining service period of active participants. The Company maintains reserves for employee medical claims, up to its insurance stop-loss limit, and workers’ compensation claims. These are regularly evaluated and revised, as needed, based on a variety of information, including historical experience, actuarial estimates and current employee statistics.
Recoverability of Goodwill and Intangible Assets	Recoverability of Goodwill and Intangible Assets On an annual basis and at interim periods when circumstances require, the Company tests the recoverability of its goodwill and indefinite-lived intangible assets. The Company utilizes the two-step impairment analysis and elects not to use the qualitative assessment or “step zero” approach. In the two-step impairment analysis, the Company compares the carrying value of each identified reporting unit to its fair value. If the carrying value of the reporting unit is greater than its fair value, the second step is performed, where the implied fair value of goodwill is compared to its carrying value. The Company recognizes an impairment charge for the amount by which the carrying amount of goodwill exceeds its implied fair value. The fair values of the reporting units are estimated using the net present value of discounted cash flows generated by each reporting unit and incorporate various assumptions related to discount and growth rates specific to the reporting unit to which they are applied. The Company’s discounted cash flows are based upon reasonable and appropriate assumptions, which are weighted for their likely probability of occurrence, about the underlying business activities of the Company’s reporting units.
Finite Lived Intangible Assets	Finite Lived Intangible Assets Intangible assets include concession agreements, technology, customer relationships, trademarks and trade names and other intangibles. Intangible assets with finite lives are amortized using the straight-line method over the estimated economic lives of the assets, which range from two to sixteen years. Long-lived assets, including intangible assets with finite lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of an impairment loss for long-lived assets that management expects to hold and use is based on the estimated fair value of the asset. Long-lived assets to be disposed of are reported at the lower of carrying amount or estimated fair value less costs to sell.
Financial Instruments	Financial Instruments The Company is exposed to a variety of market risks, including the effects of changes in interest rates, gasoline and diesel fuel prices and foreign currency exchange rates. The Company manages exposure to these market risks through regular operating and financing activities and, when deemed appropriate, through the use of financial instruments. Financial instruments are viewed as risk management tools and have not been used for speculative or trading purposes. In addition, financial instruments are entered into with a diversified group of major financial institutions in order to manage the Company's exposure to counterparty nonperformance on such instruments. The Company accounts for all financial instruments in accordance with U.S. GAAP, which requires that they be recorded on the balance sheet as either assets or liabilities measured at their fair value. For financial instruments that are designated and qualify as hedging instruments, the Company designates the hedging instrument, based upon the exposure being hedged, as either a fair value hedge or a cash flow hedge. The effective portion of changes in fair value of financial instruments designated as cash flow hedging instruments is recorded as a component of other comprehensive income (loss). Amounts included in accumulated other comprehensive income (loss) for cash flow hedges are reclassified into earnings in the same period that the hedged item is recognized in earnings. The ineffective portion of changes in the fair value of financial instruments designated as cash flow hedges is recognized currently in earnings within the same line item as the hedged item, based upon the nature of the hedged item. For financial instruments that are not part of a qualified hedging relationship, the changes in their fair value are recognized currently in earnings.
Stock-Based Compensation	Stock-Based Compensation The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost is to be recognized over the period during which the employee is required to provide service in exchange for the award. The Company has estimated the fair value of options issued at the date of grant using a Black-Scholes option-pricing model, which includes assumptions related to volatility, expected life, dividend yield and risk-free interest rate. The Company accounts for restricted stock unit and performance stock unit awards as equity classified awards. For restricted stock units the expense is based on the grant-date fair value of the stock and the number of shares that vest, recognized over the service period. For performance stock units the expense is based on the grant-date fair value of the stock, recognized over a two to four year service period depending upon the applicable performance condition. For performance stock units, the Company re-assesses the probability of achieving the applicable performance condition each reporting period and adjusts the recognition of expense accordingly.
Income Taxes	Income Taxes Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates is recognized in the statement of operations in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Subsequent changes to enacted tax rates and changes to the global mix of earnings will result in changes to the tax rates used to calculate deferred taxes and any related valuation allowances. Provisions are not made for income taxes on undistributed earnings of international subsidiaries that are intended to be indefinitely reinvested outside the United States or are expected to be remitted free of taxes. Future distributions, if any, from these international subsidiaries to the United States or changes in U.S. tax rules may require recording a tax on these amounts. The Company has recorded a deferred tax asset for unutilized net operating loss carry forwards in various tax jurisdictions. The taxing authorities may examine the positions that led to the generation of those net operating losses. If the utilization of any of those losses are disallowed a deferred tax liability may have to be recorded.
Acquisitions	Acquisitions The Company records acquisitions resulting in the consolidation of an enterprise using the acquisition method of accounting. Under this method, the acquiring company records the assets acquired, including intangible assets that can be identified and named, and liabilities assumed based on their estimated fair values at the date of acquisition. The purchase price in excess of the fair value of the identifiable assets acquired and liabilities assumed is recorded as goodwill. If the assets acquired, net of liabilities assumed, are greater than the purchase price paid then a bargain purchase has occurred and the Company will recognize the gain immediately in earnings. Among other sources of relevant information, the Company may use independent appraisals and actuarial or other valuations to assist in determining the estimated fair values of the assets and liabilities. Various assumptions are used in the determination of these estimated fair values including discount rates, market and volume growth rates, expected royalty rates, EBITDA margins and other prospective financial information. Transaction costs associated with acquisitions are expensed as incurred.
Revenue Recognition	Revenue Recognition The Company reports revenues net of any taxes or non-concession fees collected from customers on behalf of governmental authorities. Rental Car Operations The Company derives revenue through rental activities by the operations and licensing of the Hertz, Dollar, Thrifty and Firefly brands under franchise agreements. The Company also derives revenue from other forms of rental related activities, such as sales of loss damage waivers, insurance products, fuel and fuel service charges, navigation units, new equipment sales and other consumable items. Revenue is recognized when persuasive evidence of an arrangement exists, the services have been rendered to customers, the pricing is fixed or determinable and collection is reasonably assured. Franchise fees are based on a percentage of net sales of the franchised business and are recognized as earned and when collectability is reasonably assured. Initial franchise fees are recorded as deferred income when received and are recognized as revenue when all material services and conditions related to the franchise fee have been substantially performed. Renewal franchise fees are recognized as revenue when the license agreements are effective and collectability is reasonably assured. Revenue and expenses associated with gasoline, vehicle licensing and airport concessions are recorded on a gross basis within revenue and operating expenses. Equipment Rental Operations Equipment rental revenue includes revenues generated from renting equipment to customers and is recognized on a straight-line basis over the length of the rental contract. Also included in equipment rental revenue are fees for equipment delivery and pick-up and fees for loss damage waivers which allows customers to limit the risk of financial loss in the event the Company's equipment is damaged or lost. Delivery and pick-up fees are recognized as revenue when the services are performed and fees related to loss damage waivers are recognized over the length of the contract term. Revenues from the sale of new equipment, parts and supplies are recognized at the time the customer takes possession, when collectability is reasonably assured and when all obligations under the sales contract have been fulfilled. Sales tax amounts collected from customers are recorded on a net basis. The Company generally recognizes revenue from the sale of new equipment purchased from other companies based on the gross amount billed as the Company establishes its own pricing and retains related inventory risk, is the primary obligor in sales transactions with its customers, and assumes the credit risk for amounts billed to its customers. Service and other revenue is recognized as the services are performed. Fleet Leasing and Management Operations Each customer contract is considered a standalone agreement and revenue is recognized ratably over the contract life. Administration fees and service revenue attributable to the Company's Donlen operations are recognized as services are rendered and any subscription fees are recognized ratably over the subscription life.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include cash on hand and highly liquid investments with an original maturity of three months or less.
Restricted Cash and Cash Equivalents	Restricted Cash and Cash Equivalents Restricted cash and cash equivalents includes cash and cash equivalents that are not readily available for the Company's normal disbursements. Restricted cash and cash equivalents are restricted primarily for the purchase of revenue earning vehicles and other specified uses under the Company's Fleet Debt facilities, for its Like-Kind Exchange Program ("LKE Program" ) and to satisfy certain of its self-insurance regulatory reserve requirements. These funds are primarily held in highly rated money market funds with investments primarily in government and corporate obligations.
Receivables	Receivables Receivables are stated net of allowances and primarily represent credit extended to car manufacturers and customers that satisfy defined credit criteria. The estimate of the allowance for doubtful accounts is based on the Company's historical experience and its judgment as to the likelihood of ultimate payment. Actual receivables are written-off against the allowance for doubtful accounts when the Company determines the balance will not be collected. Estimates for future credit memos are based on historical experience and are reflected as reductions to revenue, while bad debt expense is reflected as a component of "Direct Operating" in the consolidated statements of operations.
Fair Value Measurements	Fair Value Measurements Generally accepted accounting principles define fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price) and establishes a fair value hierarchy that prioritizes the inputs used to measure fair value using the following definitions (from highest to lowest priority): Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2 - Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means. Level 3 - Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable.
Environmental Liabilities	Environmental Liabilities The use of automobiles and other vehicles is subject to various governmental controls designed to limit environmental damage, including those caused by emissions and noise. Generally, these controls are met by the manufacturer, except in the case of occasional equipment failure requiring repair. Liabilities for these expenditures are recorded at undiscounted amounts when it is probable that obligations have been incurred and the amounts can be reasonably estimated.
Asset Retirement Obligations	Asset Retirement Obligations The Company maintains a liability for asset retirement obligations. Asset retirement obligations are legal obligations to perform certain activities in connection with the retirement, disposal or abandonment of long-lived assets. The Company’s asset retirement obligations are primarily related to the removal of underground gasoline storage tanks and the restoration of its rental facilities. The asset retirement obligations are measured at discounted fair values at the time the liability is incurred. Accretion expense is recognized as an operating expense using the credit-adjusted risk-free interest rate in effect when the liability was recognized. The associated asset retirement obligations are capitalized as part of the carrying amount of the long-lived asset and depreciated over the estimated remaining useful life of the asset.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions Assets and liabilities of international subsidiaries whose functional currency is the local currency are translated at the rate of exchange in effect on the balance sheet date; income and expenses are translated at the average exchange rates throughout the year. The related translation adjustments are reflected in “Accumulated other comprehensive loss” in the equity section of the Company's consolidated balance sheets. Foreign currency gains and losses resulting from transactions are included in earnings.
Advertising	Advertising Advertising and sales promotion costs are expensed the first time the advertising or sales promotion takes place. Advertising costs are reflected as a component of “Selling, general and administrative” in the Company's consolidated statements of operations
Concentration of Credit Risk	Concentration of Credit Risk The Company's cash and cash equivalents are invested in various investment grade institutional money market accounts and bank term deposits. Deposits held at banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate such risks by spreading the risk across multiple counterparties and monitoring the risk profiles of these counterparties. In addition, the Company has credit risk from financial instruments used in hedging activities. The Company limits exposure relating to financial instruments by diversifying the financial instruments among various counterparties, which consist of major financial institutions.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity In April 2014, the Financial Accounting Standards Board ("FASB") issued guidance that changes the criteria for reporting discontinued operations. As a result of this guidance, only disposals of a component that represent a strategic shift that have, or will have, a major effect on the Company’s operations and financial results will be reported as a discontinued operation. Expanded disclosures are required for discontinued operations and for individually significant components that do not qualify for discontinued operations reporting. The Company adopted this guidance on January 1, 2015 in accordance with the effective date. Adoption of this new guidance did not impact the Company's financial position, results of operations or cash flows. Not Yet Adopted Revenue from Contracts with Customers In May 2014, the FASB issued guidance that will replace most existing revenue recognition guidance in U.S. GAAP. The new guidance applies to all contracts with customers except for leases, insurance contracts, financial instruments, certain nonmonetary exchanges and certain guarantees. The core principle of the guidance is that an entity should recognize revenue from customers for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The new principles-based revenue recognition model requires an entity to perform five steps: 1) identify the contract(s) with a customer, 2) identify the performance obligations in the contract, 3) determine the transaction price, 4) allocate the transaction price to the performance obligations in the contract, and 5) recognize revenue when (or as) the entity satisfies a performance obligation. Under the new guidance, performance obligations in a contract will be separately identified, which may impact the timing of recognition of the revenue allocated to each obligation. The measurement of revenue recognized may also be impacted by identification of new performance obligations and other provisions, such as collectability and variable consideration. The guidance will impact the Company’s accounting for certain contracts and its Hertz #1 Gold Points liability. Also, additional disclosures are required about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. The new guidance may be adopted on either a full or modified retrospective basis. As issued, the guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those reporting periods. In July 2015, the FASB agreed to defer the effective date of the guidance until annual and interim reporting periods beginning after December 15, 2017. The Company is in the process of determining the method of adoption and assessing the overall impacts of adopting this guidance on its financial position, results of operations and cash flows. Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could be Achieved after the Requisite Service Period In June 2014, the FASB issued guidance that requires that a performance target in a share-based payment award that affects vesting and that can be achieved after the requisite service period is completed is to be accounted for as a performance condition; therefore, compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved, and the amount of compensation cost recognized should be based on the portion of the service period fulfilled. The guidance is effective either prospectively or retrospectively for annual periods beginning after December 15, 2015 and interim periods within those annual periods. The Company has assessed the potential impacts from future adoption of this guidance and has determined that there will be no impact on its financial position, results of operations and cash flows. Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items In January 2015, the FASB issued guidance that eliminates the concept of an event or transaction that is unusual in nature and occurs infrequently being treated as an extraordinary item. The guidance is effective for annual periods beginning after December 15, 2015 and interim periods within those annual periods. The Company has assessed the potential impacts from future adoption of this guidance and has determined that there will be no impact on its financial position, results of operations and cash flows. Amendments to the Consolidation Analysis In February 2015, the FASB issued guidance that changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The new guidance may be applied using a full or modified retrospective approach. The guidance is effective for annual periods beginning after December 15, 2015 and interim periods within those annual periods. The Company has assessed the potential impacts from future adoption of this guidance and has determined that there will be no impact on its financial position, results of operations and cash flows. Simplifying the Presentation of Debt Issuance Costs In April 2015, the FASB issued guidance requiring debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. In August 2015, the FASB issued guidance clarifying that debt issuance costs related to line-of-credit and other revolving debt arrangements may be deferred and presented as an asset. The guidance is effective retrospectively for annual periods beginning after December 15, 2015 and interim periods within those annual periods. This guidance will require the Company to reclassify its debt issuance costs associated with its debt other than line-of-credit and other revolving debt arrangements on its consolidated balance sheets from “prepaid expenses and other assets” to “debt” on a retrospective basis. The Company is in the process of assessing the potential impacts of adopting this guidance on its financial condition. The new guidance will not affect the Company’s results of operations or cash flows. Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement In April 2015, the FASB issued guidance for customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. This new guidance is effective for annual periods, including interim periods within those annual periods, beginning after December 15, 2015. The Company is in the process of determining the method of adoption and assessing the overall impacts of adopting this guidance on its financial position, results of operations and cash flows. Simplifying the Subsequent Measurement of Inventory In July 2015, the FASB issued guidance that requires inventory to be measured at the lower of cost and net realizable value, excluding inventory measured using the last-in, first-out method or the retail inventory method. Net realizable value is defined as the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal, and transportation. Current guidance requires inventory to be measured at the lower of cost or market. This guidance is effective prospectively for annual periods beginning after December 15, 2016 and interim periods within those annual periods. The Company is in the process of assessing the potential impacts of adopting this guidance on its financial position, results of operations and cash flows. Simplifying the Accounting for Measurement Period Adjustments for Business Combinations In September 2015, the FASB issued guidance that requires adjustments to provisional amounts during the measurement period of a business combination to be recognized in the reporting period in which the adjustments are determined, rather than retrospectively. The guidance is effective prospectively for annual periods beginning after December 15, 2015 and interim periods within those annual periods. The Company has assessed the potential impacts from future adoption of this guidance and has determined that there will be no impact on its financial position, results of operations and cash flows.

Summary of Critical and Signi32

Summary of Critical and Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives of Revenue-Earning Assets	Revenue earning equipment is stated at cost, net of related discounts. Generally, holding periods are as follows: Rental cars 6 to 36 months Other equipment 24 to 108 months
Schedule of Estimated Useful Lives of Depreciable Assets	Property and equipment are stated at cost and are depreciated utilizing the straight-line method over the estimated useful lives of the related assets. Useful lives are as follows: Buildings 5 to 50 years Furniture and fixtures 1 to 15 years Service cars and service equipment 1 to 13 years Leasehold improvements The lesser of the economic life or the lease term

Acquistions and Divestitures (T

Acquistions and Divestitures (Tables)	12 Months Ended
	Dec. 31, 2015
Hertz Franchises
Acquisition
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The purchase price was allocated as follows: (In millions) U.S. Car Rental Revenue earning equipment $ 71 Property and other equipment 6 Other intangible assets 9 Goodwill 1 Total $ 87

Revenue Earning Equipment (Tabl

Revenue Earning Equipment (Tables)	12 Months Ended
	Dec. 31, 2015
Depreciation of Revenue Earning Equipment and Lease Charges Disclosure [Abstract]
Property, Plant and Equipment	The components of revenue earning equipment, net are as follows: December 31, (In millions) 2015 2014 Revenue earning equipment $ 16,768 $ 17,837 Less: Accumulated depreciation (3,775 ) (4,427 ) 12,993 13,410 Revenue earning equipment held for sale, net 135 243 Revenue earning equipment, net $ 13,128 $ 13,653
Schedule of Depreciation on Revenue Earning Equipment and Lease Charges	Depreciation of revenue earning equipment and lease charges, net includes the following: Years Ended December 31, (In millions) 2015 2014 2013 Depreciation of revenue earning equipment $ 2,614 $ 2,787 $ 2,415 (Gain) loss on disposal of revenue earning equipment (a) 76 167 37 Rents paid for vehicles leased 72 80 81 Depreciation of revenue earning equipment and lease charges, net $ 2,762 $ 3,034 $ 2,533 (a) (Gain) loss on disposal of revenue earning equipment by segment is as follows: Years Ended December 31, (In millions) 2015 2014 2013 U.S. Car Rental $ 97 $ 178 $ 48 International Car Rental (8 ) (2 ) 15 Worldwide Equipment Rental (13 ) (9 ) (26 ) Total $ 76 $ 167 $ 37
Impact of Depreciation Rate Changes	The cumulative impact on the years of depreciation rate changes during the years ended December 31, 2015, 2014 and 2013 is as follows: Increase (decrease) Years Ended December 31, (In millions) 2015 2014 2013 U.S. Car Rental $ 101 $ 167 $ (44 ) International Car Rental (1 ) (3 ) 5 Worldwide Equipment Rental 2 — — Total $ 102 $ 164 $ (39 )

Goodwill and Other Intangible35

Goodwill and Other Intangible Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of changes in goodwill, by segment	The following summarizes the changes in the Company's goodwill, by segment: (In millions) U.S. Car Rental International Car Rental Worldwide Equipment All Other Operations Total Balance as of January 1, 2015 Goodwill $ 1,025 $ 248 $ 772 $ 35 $ 2,080 Accumulated impairment losses — (46 ) (675 ) — (721 ) 1,025 202 97 35 1,359 Goodwill acquired during the period 3 — — — 3 Other changes during the period (a) — (4 ) (4 ) — (8 ) 3 (4 ) (4 ) — (5 ) Balance as of December 31, 2015 Goodwill 1,028 244 768 35 2,075 Accumulated impairment losses — (46 ) (675 ) — (721 ) $ 1,028 $ 198 $ 93 $ 35 $ 1,354 (In millions) US Car Rental International Car Rental Worldwide Equipment Rental All Other Operations Total Balance as of January 1, 2014 Goodwill $ 1,012 $ 254 $ 772 $ 35 $ 2,073 Accumulated impairment losses — (46 ) (675 ) — (721 ) 1,012 208 97 35 1,352 Goodwill acquired during the period 13 — — — 13 Adjustments to previously recorded purchase price allocation — (1 ) — — (1 ) Other changes during the period (a) — (5 ) — — (5 ) 13 (6 ) — — 7 Balance as of December 31, 2014 Goodwill 1,025 248 772 35 2,080 Accumulated impairment losses — (46 ) (675 ) — (721 ) $ 1,025 $ 202 $ 97 $ 35 $ 1,359 (a) The change in the International Car Rental segment primarily consists of foreign currency adjustments, and the change in 2015 in the Worldwide Equipment Rental segment is due to the sale of HERC France and Spain businesses.
Components of other intangible assets by major classes	Other intangible assets, net, consisted of the following major classes: December 31, 2015 (In millions) Gross Accumulated Net Amortizable intangible assets: Customer-related $ 684 $ (625 ) $ 59 Concession rights 411 (144 ) 267 Technology-related intangibles (a) 308 (152 ) 156 Other (b) 93 (61 ) 32 Total 1,496 (982 ) 514 Indefinite-lived intangible assets: Trade name 3,286 — 3,286 Other (c) 22 — 22 Total 3,308 — 3,308 Total other intangible assets, net $ 4,804 $ (982 ) $ 3,822 At October 1, 2014, the Company determined that the respective carrying values of its indefinite-lived intangible assets did not exceed their estimated fair values and therefore no impairment existed. December 31, 2014 (In millions) Gross Accumulated Net Amortizable intangible assets: Customer-related $ 692 $ (568 ) $ 124 Concession rights 410 (97 ) 313 Technology-related intangibles (a) 338 (147 ) 191 Other (b) 78 (49 ) 29 Total 1,518 (861 ) 657 Indefinite-lived intangible assets: Trade name 3,330 — 3,330 Other (c) 22 — 22 Total 3,352 — 3,352 Total other intangible assets, net $ 4,870 $ (861 ) $ 4,009 (a) Technology-related intangibles include software not yet placed into service. (b) Other amortizable intangible assets primarily include the Donlen trade name and non-compete agreements. (c) Other indefinite-lived intangible assets primarily consist of reacquired franchise rights.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Debt Disclosure [Abstract]
Components of Debt	The Company's debt consists of the following (in millions): Facility Weighted Average Interest Rate at December 31, 2015 Fixed or Floating Interest Rate Maturity December 31, December 31, Corporate Debt Senior Term Facility 3.26% Floating 3/2018 $ 2,062 $ 2,083 Senior ABL Facility N/A N/A N/A — 344 Senior Notes (1) 6.58% Fixed 4/2018–10/2022 3,900 3,900 Promissory Notes 7.00% Fixed 1/2028 27 27 Other Corporate Debt 3.93% Fixed Various 66 74 Unamortized Net (Discount) Premium (Corporate) 2 3 Total Corporate Debt 6,057 6,431 Fleet Debt HVF U.S. Fleet Medium Term Notes HVF Series 2009-2 (2) N/A N/A N/A — 404 HVF Series 2010-1 (2) 4.46% Fixed 2/2014–2/2018 240 490 HVF Series 2011-1 (2) 3.51% Fixed 3/2015–3/2017 230 414 HVF Series 2013-1 (2) 1.68% Fixed 8/2016–8/2018 950 950 1,420 2,258 RCFC U.S. ABS Program RCFC Series 2011-1 Notes (2)(3) N/A N/A N/A — 167 RCFC Series 2011-2 Notes (2)(3) N/A N/A N/A — 266 — 433 HVF II U.S. ABS Program HVF II U.S. Fleet Variable Funding Notes: HVF II Series 2013-A 1.27% Floating 10/2017 980 1,999 HVF II Series 2013-B 1.32% Floating 10/2017 1,308 976 HVF II Series 2014-A 1.78% Floating 10/2016 1,737 869 4,025 3,844 HVF II U.S. Fleet Medium Term Notes HVF II Series 2015-1 (2) 2.93% Fixed 3/2020 780 — HVF II Series 2015-2 (2) 2.30% Fixed 9/2018 250 — HVF II Series 2015-3 (2) 2.96% Fixed 9/2020 350 — 1,380 — Donlen ABS Program HFLF Variable Funding Notes HFLF Series 2013-2 Notes (2) 1.19% Floating 9/2017 370 247 370 247 HFLF Medium Term Notes HFLF Series 2013-3 Notes (2) 0.98% Floating 9/2016–11/2016 270 500 HFLF Series 2014-1 Notes (2) 0.85% Floating 12/2016–3/2017 288 400 HFLF Series 2015-1 Notes (2) 0.96% Floating 3/2018–5/2018 295 — Facility Weighted Average Interest Rate at December 31, 2015 Fixed or Floating Interest Rate Maturity December 31, December 31, 853 900 Other Fleet Debt U.S. Fleet Financing Facility 2.95% Floating 3/2017 190 164 European Revolving Credit Facility 2.55% Floating 10/2017 273 304 European Fleet Notes 4.38% Fixed 1/2019 464 517 European Securitization (2) 1.54% Floating 10/2017 267 270 Canadian Securitization (2) 1.78% Floating 1/2018 148 — Hertz-Sponsored Canadian Securitization (2) N/A N/A N/A — 105 Dollar Thrifty-Sponsored Canadian Securitization (2)(3) N/A N/A N/A — 40 Australian Securitization (2) 3.80% Floating 12/2016 98 112 Brazilian Fleet Financing Facility 17.94% Floating 4/2016 7 11 Capitalized Leases 2.67% Floating 2/2015–10/2017 362 364 Unamortized Net (Discount) Premium (Fleet) (7 ) (7 ) 1,802 1,880 Total Fleet Debt 9,850 9,562 Total Debt $ 15,907 $ 15,993 N/A - Not Applicable (1) References to the Company's "Senior Notes" include the series of Hertz's unsecured senior notes set forth in the table below. The outstanding principal amount for each such series of the Senior Notes is also specified below. (In millions) Outstanding Principal Senior Notes December 31, 2015 December 31, 2014 4.25% Senior Notes due April 2018 $ 250 $ 250 7.50% Senior Notes due October 2018 700 700 6.75% Senior Notes due April 2019 1,250 1,250 5.875% Senior Notes due October 2020 700 700 7.375% Senior Notes due January 2021 500 500 6.25% Senior Notes due October 2022 500 500 $ 3,900 $ 3,900 (2) Maturity reference is to the "expected final maturity date" as opposed to the subsequent "legal maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness expect the relevant indebtedness to be repaid, which in the case of the HFLF Medium Term Notes was based upon various assumptions made at the time of the pricing of such notes. The legal final maturity date is the date on which the relevant indebtedness is legally due and payable. (3) RCFC U.S. ABS Program and the Dollar Thrifty-Sponsored Canadian Securitization represent fleet debt assumed in connection with the Dollar Thrifty acquisition in 2012.	The fair value of the Company's debt is estimated based on quoted market rates as well as borrowing rates currently available for loans with similar terms and average maturities (Level 2 inputs). As of December 31, 2015 As of December 31, 2014 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Corporate Debt $ 6,055 $ 6,134 $ 6,428 $ 6,468 Fleet Debt 9,857 9,854 9,569 9,595 Total $ 15,912 $ 15,988 $ 15,997 $ 16,063
Components of maturities of debt	The nominal amounts of maturities of debt for each of the twelve-month periods ending December 31 are as follows: (In millions) 2016 2017 2018 2019 2020 After 2020 Corporate Debt $ 33 $ 34 $ 2,981 $ 1,257 $ 703 $ 1,047 Fleet Debt 3,101 3,699 1,356 571 1,130 — Total $ 3,134 $ 3,733 $ 4,337 $ 1,828 $ 1,833 $ 1,047
Schedule of facilities available for the use of the company and its subsidiaries	As of December 31, 2015 , the following facilities were available to the Company: (In millions) Remaining Capacity Availability Under Borrowing Base Limitation Corporate Debt Senior ABL Facility $ 1,797 $ 1,668 Total Corporate Debt 1,797 1,668 Fleet Debt HVF II U.S. Fleet Variable Funding Notes 2,550 — HFLF Variable Funding Notes 130 — European Revolving Credit Facility — — European Securitization 170 — Canadian Securitization 105 — Australian Securitization 84 — Capitalized Leases 58 2 Total Fleet Debt 3,097 2 Total $ 4,894 $ 1,670

Employee Retirement Benefits (T

Employee Retirement Benefits (Tables)	12 Months Ended
	Dec. 31, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Funded Status	The following tables set forth the funded status and the net periodic pension cost of the Hertz Retirement Plan and other U.S. based retirement plans, other postretirement benefit plans including health care and life insurance plans covering domestic (“U.S.”) employees and the retirement plans for international operations (“Non-U.S.”), together with amounts included in its consolidated balance sheets and statements of operations: Pension Benefits Postretirement U.S. Non-U.S. Benefits (U.S.) (In millions) 2015 2014 2015 2014 2015 2014 Change in Benefit Obligation Benefit obligation at January 1 $ 726 $ 671 $ 274 $ 243 $ 15 $ 16 Service cost 3 28 1 2 — — Interest cost 27 31 8 10 1 — Employee contributions — — — — — 1 Plan curtailments (1 ) (42 ) — — — — Plan settlements (21 ) (11 ) (6 ) — — — Benefits paid (29 ) (23 ) (5 ) (5 ) (1 ) (2 ) Foreign exchange translation — — (16 ) (22 ) — — Actuarial loss (gain) (18 ) 72 (22 ) 46 — — Other — — 1 — — — Benefit obligation at December 31 $ 687 $ 726 $ 235 $ 274 $ 15 $ 15 Change in Plan Assets Fair value of plan assets at January 1 $ 619 $ 563 $ 212 $ 207 $ — $ — Actual return on plan assets (16 ) 55 4 19 — — Company contributions 22 35 5 5 1 1 Employee contributions — — — — — 1 Plan settlements (21 ) (11 ) (6 ) — — — Benefits paid (29 ) (23 ) (5 ) (5 ) (1 ) (2 ) Foreign exchange translation — — (10 ) (14 ) — — Fair value of plan assets at December 31 $ 575 $ 619 $ 200 $ 212 $ — $ — Funded Status of the Plan Plan assets less than benefit obligation $ (112 ) $ (107 ) $ (35 ) $ (62 ) $ (15 ) $ (15 )
Schedule of Defined Benefit Plan, Amounts Included in Financial Statements and Assumptions Used	Pension Benefits Postretirement U.S. Non-U.S. Benefits (U.S.) (In millions) 2015 2014 2015 2014 2015 2014 Amounts recognized in balance sheet: Prepaid expenses and other assets $ — $ — $ 29 $ — $ — $ — Accrued liabilities $ (112 ) $ (107 ) $ (64 ) $ (62 ) $ (15 ) $ (15 ) Net obligation recognized in the balance sheet $ (112 ) $ (107 ) $ (35 ) $ (62 ) $ (15 ) $ (15 ) Prior service credit $ 1 $ 2 $ — $ — $ — $ — Net gain (loss) (128 ) (97 ) (33 ) (50 ) 1 1 Accumulated other comprehensive gain (loss) (127 ) (95 ) (33 ) (50 ) 1 1 Funded/(Unfunded) accrued pension or postretirement benefit 15 (12 ) (2 ) (12 ) (16 ) (16 ) Net obligation recognized in the balance sheet $ (112 ) $ (107 ) $ (35 ) $ (62 ) $ (15 ) $ (15 ) Total recognized in other comprehensive (income) loss $ 31 $ 14 $ (17 ) $ 38 $ — $ — Total recognized in net periodic benefit cost and other comprehensive (income) loss $ 27 $ 33 $ (20 ) $ 35 $ 1 $ 1 Estimated amounts that will be amortized from accumulated other comprehensive (income) loss over the next fiscal year: Net loss $ (8 ) $ (2 ) $ — $ (2 ) $ — $ — Accumulated Benefit Obligation at December 31 $ 683 $ 720 $ 234 $ 272 N/A N/A Weighted-average assumptions as of December 31 Discount rate 4.3 % 3.9 % 3.6 % 4.4 % 4.2 % 3.6 % Expected return on assets 7.2 % 7.4 % 6.1 % 7.4 % — % — % Average rate of increase in compensation 4.3 % 4.0 % 2.6 % 2.6 % — % — % Initial health care cost trend rate N/A N/A N/A N/A 6.9 % 7.3 % Ultimate health care cost trend rate N/A N/A N/A N/A 4.5 % 4.5 % Number of years to ultimate trend rate N/A N/A N/A N/A 23 15
Schedule of Net Benefit Costs	The following table sets forth the net periodic pension and postretirement (including health care, life insurance and auto) expense: Pension Benefits Postretirement U.S. Non-U.S. Years Ended December 31, (In millions) 2015 2014 2013 2015 2014 2013 2015 2014 2013 Components of Net Periodic Service cost $ 3 $ 28 $ 27 $ 1 $ 2 $ 3 $ — $ — $ — Interest cost 27 31 28 8 10 9 1 1 1 Expected return on plan assets (40 ) (40 ) (36 ) (15 ) (15 ) (13 ) — — — Net amortizations 2 2 7 2 — — — — — Settlement loss 4 4 — 1 — — — — — Curtailment gain — (10 ) — — — — — — — Special termination cost — 4 — — — — — — — Net pension and postretirement expense $ (4 ) $ 19 $ 26 $ (3 ) $ (3 ) $ (1 ) $ 1 $ 1 $ 1 Weighted-average discount rate for expense (January 1) 3.9 % 4.8 % 4.0 % 3.3 % 3.2 % 4.3 % 3.8 % 4.4 % 3.6 % Weighted-average assumed long-term rate of return on assets (January 1) 7.4 % 7.6 % 7.6 % 7.3 % 7.4 % 7.4 % N/A N/A N/A Initial health care cost trend rate N/A N/A N/A N/A N/A N/A 7.3 % 7.5 % 7.8 % Ultimate health care cost trend rate N/A N/A N/A N/A N/A N/A 4.5 % 4.5 % 4.5 % Number of years to ultimate trend rate N/A N/A N/A N/A N/A N/A 14 15 16 N/A - Not applicable
Schedule of Allocation of Plan Assets	The fair value measurements of its U.K. pension plan assets are based upon significant observable inputs (Level 2) and relate to common collective trusts and other pooled investment vehicles consisting of the following asset categories: (In millions) December 31, 2015 December 31, 2014 Asset Category Level 1 Level 2 Level 1 Level 2 Actively Managed Multi-Asset Funds: Diversified Growth Funds $ — $ 75 $ 74 $ — Passive Equity Funds: U.K. Equities 25 — 25 — Overseas Equities 31 — 31 — Passive Bond Funds: Corporate Bonds — 20 — 21 Index-Linked Gilts — 44 — 50 Total fair value of pension plan assets $ 56 $ 139 $ 130 $ 71 The fair value measurements of its U.S. pension plan assets relate to common collective trusts and other pooled investment vehicles consisting of the following asset categories: (In millions) December 31, 2015 December 31, 2014 Asset Category Short Term Investments $ 7 $ 13 Equity Securities: U.S. Large Cap 158 171 U.S. Mid Cap 36 50 U.S. Small Cap 45 38 International Large Cap 96 99 International Emerging Markets 29 29 Asset-Backed Securities 5 4 Fixed Income Securities: U.S. Treasuries 61 63 Corporate Bonds 110 123 Government Bonds 9 10 Municipal Bonds 10 10 Real Estate (REITs) 9 9 Total fair value of pension plan assets $ 575 $ 619
Schedule of Expected Benefit Payments	The following table presents estimated future benefit payments: (In millions) Pension Benefits Postretirement Benefits (U.S.) 2016 $ 48 $ 1 2017 48 1 2018 51 1 2019 54 1 2020 56 2 After 2020 302 6 $ 559 $ 12
Schedule of Multiemployer Plans	For plans that are not individually significant to the Company, the total amount of contributions is presented in the aggregate. EIN /Pension Pension FIP / Contributions by (In millions) Surcharge Imposed Expiration Pension Fund 2015 2014 2015 2014 2013 Western Conference of Teamsters 91-6145047 Green Green NA $ 6 $ 6 $ 4 N/A 1/31/2014* - 10/1/2017 Other Plans* 6 4 4 Total Contributions $ 12 $ 10 $ 8 N/A Not applicable * Included in the Other Plans are contributions to the Local 1034 Pension Fund. The amount contributed by Hertz to the Local 1034 Pension Fund was reported as being more than 5% of total contributions to the plan, on the fund's Form 5500 for the year ended December 31, 2014 .

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of the total compensation expense and associated recognized income tax benefits	A summary of the total compensation expense and associated income tax benefits recognized under the Prior Plans and the Omnibus Plan, including the cost of stock options, RSUs, and PSUs, is as follows (in millions of dollars): Years Ended December 31, (In millions) 2015 2014 2013 Compensation expense $ 17 $ 11 $ 35 Income tax benefit (7 ) (4 ) (14 ) Total $ 10 $ 7 $ 21
Schedule of valuation assumptions	The value of each option award is estimated on the grant date using a Black-Scholes option valuation model that incorporates the assumptions noted in the following table. Hertz Holdings calculates the expected volatility on the historical movement of its stock price. Grants Assumption 2015 2014 2013 (a) Expected volatility 41.4 % 39.3 % N/A Expected dividend yield — % — % N/A Expected term (years) 5 3 N/A Risk-free interest rate 1.17 % 0.96 % N/A Weighted-average grant date fair value $ 7.34 $ 7.14 N/A (a) No options were granted in 2013.
Summary of option activity under the stock incentive plan and omnibus plan	A summary of option activity under the Stock Incentive Plan and the Omnibus Plan as of December 31, 2015 is presented below. Options Shares Weighted- Weighted- Aggregate Intrinsic Outstanding at January 1, 2015 8,895,521 $ 12.62 3.6 $ 106 Granted 3,301,499 22.20 — — Exercised (595,318 ) 7.88 — — Forfeited or Expired (581,358 ) 21.70 — — Outstanding at December 31, 2015 11,020,344 14.88 3.0 26 Exercisable at December 31, 2015 8,185,899 12.42 2.6 26
Summary of non-vested options and changes during the year	A summary of non-vested options as of December 31, 2015 , and changes during the year, is presented below. Non-vested Weighted- Weighted- Non-vested as of January 1, 2015 689,242 $ 20.51 $ 6.81 Granted 3,301,499 22.20 7.48 Vested (697,747 ) 20.44 6.80 Forfeited (458,549 ) 23.26 7.75 Non-vested as of December 31, 2015 2,834,445 21.99 7.13
Schedule of additional information pertaining to option activity under the plans	Additional information pertaining to option activity under the plans is as follows: Years Ended December 31, (In millions) 2015 2014 2013 Aggregate intrinsic value of stock options exercised $ 4 $ 24 $ 42 Cash received from the exercise of stock options 5 18 27 Fair value of options that vested 5 5 6 Tax benefit realized on exercise of stock options — 1 1
Summary of PSU and RSU activity under the omnibus plan	A summary of the PSU activity under the Omnibus Plan as of December 31, 2015 is presented below. Shares Weighted- Aggregate Intrinsic Outstanding at January 1, 2015 2,056,509 $ 19.90 $ 49 Granted 1,413,367 21.10 — Vested (614,902 ) 15.22 — Forfeited or Expired (1,223,671 ) 23.54 — Outstanding at December 31, 2015 1,631,303 20.14 23 A summary of RSU activity under the Omnibus Plan as of December 31, 2015 is presented below. Shares Weighted- Aggregate Intrinsic Outstanding at January 1, 2015 324,304 $ 19.38 $ 8 Granted 984,129 20.38 — Vested (251,715 ) 18.06 — Forfeited or Expired (80,912 ) 22.69 — Outstanding at December 31, 2015 975,806 20.46 14
Schedule of additional information pertaining to RSU activity	Additional information pertaining to RSU activity is as follows: Years Ended December 31, 2015 2014 2013 Total fair value of awards that vested (In millions) $ 5 $ 9 $ 13 Weighted average grant date fair value of awards 20.38 28.18 23.95

Lease and Concession Agreemen39

Lease and Concession Agreements (Tables)	12 Months Ended
	Dec. 31, 2015
Leases [Abstract]
Schedule of lease expenses	In addition to the rents mentioned above, the Company has various leases on revenue earning equipment and office, computer and other equipment under which the following amounts were expensed: Years Ended December 31, (In millions) 2015 2014 2013 Revenue earning equipment $ 72 $ 80 $ 81 Office, computer and other equipment 18 19 17 Total $ 90 $ 99 $ 98 The Company has various concession agreements, which provide for payment of rents and a percentage of revenue with a guaranteed minimum, and real estate leases under which the following amounts were expensed: Years ended December 31, (In millions) 2015 2014 2013 Rents $ 189 $ 185 $ 185 Concession fees: Minimum fixed obligations 367 416 405 Additional amounts, based on revenues 344 301 295 Total 900 902 885 Sublease income (5 ) (4 ) (5 ) Total $ 895 $ 898 $ 880
Schedule of minimum obligations under existing agreements	As of December 31, 2015 , minimum obligations under existing agreements for revenue earning equipment and office, computer and other equipment approximate the following: (In millions) 2016 $ 14 2017 10 2018 5 2019 4 2020 4 After 2020 4 Total $ 41 As of December 31, 2015 , minimum net obligations under existing agreements referred to above approximate the following: (In millions) Rents Concessions 2016 $ 219 $ 291 2017 184 252 2018 149 199 2019 106 147 2020 69 106 After 2020 256 483 Total $ 983 $ 1,478

Restructuring (Tables)

Restructuring (Tables)	12 Months Ended
	Dec. 31, 2015
Restructuring and Related Activities [Abstract]
Summary of restructuring charges in consolidated statement of operations	As part of the Company's ongoing effort to implement its strategy of reducing operating costs, as well as the integration of Dollar Thrifty the Company incurred the following restructuring costs: Years Ended December 31, (In millions) 2015 2014 2013 By Type: Termination benefits $ 16 $ 30 $ 42 Impairments and asset write-downs 2 23 — Facility closure and lease obligation costs 19 15 15 Relocation costs and temporary labor costs (4 ) 9 19 Other — 1 1 Total $ 33 $ 78 $ 77 Years Ended December 31, (In millions) 2015 2014 2013 By Caption: Direct operating $ 20 $ 35 $ 28 Selling, general and administrative 13 43 49 Total $ 33 $ 78 $ 77 Years Ended December 31, (In millions) 2015 2014 2013 By Segment: U.S. Car Rental $ 23 $ 27 $ 23 International Car Rental 6 19 19 Worldwide Equipment Rental 4 5 8 Corporate — 27 27 Total $ 33 $ 78 $ 77
Schedule of activity affecting the restructuring accrual	The following table sets forth the activity affecting the restructuring accrual during the years ended December 31, 2015 and 2014 . The Company expects to pay the remaining restructuring obligations relating to termination benefits over the next twelve months. The remainder of the restructuring accrual relates to future lease obligations which will be paid over the remaining term of the applicable leases. (In millions) Termination Other Total Balance as of December 31, 2013 $ 20 $ 28 $ 48 Charges incurred 30 48 78 Cash payments (28 ) (25 ) (53 ) Other non-cash changes (a) (1 ) (29 ) (30 ) Balance as of December 31, 2014 $ 21 $ 22 $ 43 Charges incurred 16 17 33 Cash payments (26 ) (16 ) (42 ) Other non-cash changes (b) (1 ) (6 ) (7 ) Balance as of December 31, 2015 $ 10 $ 17 $ 27 (a) Decrease in 2014 primarily consists of $10 million related to the write-down of assets associated with a terminated business relationship and $13 million related to the impairment of the Company's former corporate headquarters building in New Jersey which were recorded in direct operating and selling, general and administrative expenses, respectively. (b) Decrease in 2015 primarily consists of $4 million related to the write-down of assets deemed to have no future use in the Company's U.S. Car Rental segment.

Taxes on Income (Loss) (Tables)

Taxes on Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Income before Income Tax, Domestic and Foreign	The components of income (loss) before income taxes for the periods were as follows: Years Ended December 31, (In millions) 2015 2014 2013 Domestic $ 31 $ (185 ) $ 573 Foreign 313 169 106 Total income (loss) $ 344 $ (16 ) $ 679
Schedule of Components of Income Tax Expense (Benefit)	The total provision (benefit) for taxes on income (loss) consists of the following: Years Ended December 31, (In millions) 2015 2014 2013 Current: Federal $ 6 $ 1 $ (7 ) Foreign 58 45 60 State and local 1 8 21 Total current 65 54 74 Deferred: Federal 40 (17 ) 223 Foreign (42 ) 9 16 State and local 5 16 16 Total deferred 3 8 255 Total provision $ 68 $ 62 $ 329
Schedule of Deferred Tax Assets and Liabilities	The principal items of the U.S. and foreign net deferred tax assets and liabilities are as follows: December 31, (In millions) 2015 2014 Deferred Tax Assets: Employee benefit plans $ 74 $ 82 Net operating loss carry forwards 1,639 1,871 Federal, state and foreign local tax credit carry forwards 47 26 Accrued and prepaid expenses 281 263 Total Deferred Tax Assets 2,041 2,242 Less: Valuation Allowance (151 ) (231 ) Total Net Deferred Tax Assets 1,890 2,011 Deferred Tax Liabilities: Depreciation on tangible assets (3,349 ) (3,489 ) Intangible assets (1,417 ) (1,415 ) Total Deferred Tax Liabilities (4,766 ) (4,904 ) Net Deferred Tax Liability $ (2,876 ) $ (2,893 )
Schedule of Effective Income Tax Rate Reconciliation	The significant items in the reconciliation of the statutory and effective income tax rates consisted of the following: Years Ended December 31, 2015 2014 2013 Statutory Federal Tax Rate 35 % 35 % 35 % Foreign tax rate differential (8 ) 102 (3 ) State and local income taxes, net of federal income tax benefit 1 (18 ) 5 Change in state statutory rates, net of federal income tax benefit 2 (77 ) — Federal and foreign permanent differences 3 (76 ) 5 Withholding taxes 2 (54 ) 2 Uncertain tax positions (2 ) (66 ) (1 ) Change in valuation allowance (14 ) (109 ) 5 Benefit from sale of non-U.S. operations (6 ) — — All other items, net 7 (125 ) — Effective Tax Rate 20 % (388 )% 48 %
Schedule of Unrecognized Tax Benefits Roll Forward	A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows: (In millions) 2015 2014 2013 Balance at January 1 $ 57 $ 11 $ 19 Increase (Decrease) attributable to tax positions taken during prior periods 16 4 (7 ) Increase (Decrease) attributable to tax positions taken during the current year 9 42 3 Decrease attributable to settlements with taxing authorities (1 ) — (4 ) Balance at December 31 $ 81 $ 57 $ 11

Financial Instruments (Tables)

Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Financial Instruments
Summary of financial assets and liabilities measured at fair value on a recurring basis	The following table summarizes the estimated fair value of financial instruments: Fair Value of Financial Instruments Asset Derivatives (a) Liability Derivatives (a) Years Ended December 31, Years Ended December 31, (In millions) 2015 2014 2015 2014 Interest rate caps $ 9 $ 25 $ 9 $ 25 Foreign currency forward contracts 3 6 1 2 Total $ 12 $ 31 $ 10 $ 27 (a) All asset derivatives are recorded in "Prepaid expenses and other assets" and all liability derivatives are recorded in "Accrued liabilities" in the Company's consolidated balance sheets.
Schedule of gain (loss) on derivative instruments not designated as hedges recognized in income	The following table summarizes the gains and (losses) on financial instruments for the period indicated: Location of Gain or (Loss) Amount of Gain or (Loss) Recognized in Income on Derivatives Years Ended December 31, (In millions) 2015 2014 2013 Gasoline swaps Direct operating $ — $ — $ 2 Interest rate caps Selling, general and administrative — (2 ) (1 ) Foreign currency forward contracts Selling, general and administrative (20 ) (1 ) (22 ) Total $ (20 ) $ (3 ) $ (21 )
Offsetting Assets	The impact of offsetting derivative instruments is depicted below as of December 31, 2014 : Prepaid Expenses and Other Assets: (In millions) Gross assets Gross assets offset in Balance Sheet Net recognized assets in Balance Sheet Gross Financial Instruments not offset in Balance Sheet Net Amount Interest rate caps $ 25 $ — $ 25 $ — $ 25 Foreign currency forward contracts 6 — 6 (3 ) 3 Total $ 31 $ — $ 31 $ (3 ) $ 28 The impact of offsetting derivative instruments is depicted below as of December 31, 2015 : Prepaid Expenses and Other Assets: (In millions) Gross assets Gross assets offset in Balance Sheet Net recognized assets in Balance Sheet Gross Financial Instruments not offset in Balance Sheet Net Amount Interest rate caps $ 9 $ — $ 9 $ — $ 9 Foreign currency forward contracts 3 — 3 — 3 Total $ 12 $ — $ 12 $ — $ 12
Offsetting Liabilities	Accrued Liabilities: (In millions) Gross liabilities Gross liabilities offset in Balance Sheet Net recognized liabilities in Balance Sheet Gross Financial Instruments not offset in Balance Sheet Net Amount Interest rate caps $ 9 $ — $ 9 $ — $ 9 Foreign currency forward contracts 1 — 1 — 1 Total $ 10 $ — $ 10 $ — $ 10 Accrued Liabilities: (In millions) Gross liabilities Gross liabilities offset in Balance Sheet Net recognized liabilities in Balance Sheet Gross Financial Instruments not offset in Balance Sheet Net Amount Interest rate caps $ 25 $ — $ 25 $ (1 ) $ 24 Foreign currency forward contracts 2 — 2 (2 ) — Total $ 27 $ — $ 27 $ (3 ) $ 24

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Company's Cash Equivalents and Investments	The following table summarizes the ending balances of the Company's cash equivalents and investments. December 31, 2015 December 31, 2014 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Money market funds $ 195 $ 49 $ — $ 244 $ 146 $ — $ — $ 146 Equity and other securities — 111 — 111 — 96 — 96 Total $ 195 $ 160 $ — $ 355 $ 146 $ 96 $ — $ 242
Components of Debt	The Company's debt consists of the following (in millions): Facility Weighted Average Interest Rate at December 31, 2015 Fixed or Floating Interest Rate Maturity December 31, December 31, Corporate Debt Senior Term Facility 3.26% Floating 3/2018 $ 2,062 $ 2,083 Senior ABL Facility N/A N/A N/A — 344 Senior Notes (1) 6.58% Fixed 4/2018–10/2022 3,900 3,900 Promissory Notes 7.00% Fixed 1/2028 27 27 Other Corporate Debt 3.93% Fixed Various 66 74 Unamortized Net (Discount) Premium (Corporate) 2 3 Total Corporate Debt 6,057 6,431 Fleet Debt HVF U.S. Fleet Medium Term Notes HVF Series 2009-2 (2) N/A N/A N/A — 404 HVF Series 2010-1 (2) 4.46% Fixed 2/2014–2/2018 240 490 HVF Series 2011-1 (2) 3.51% Fixed 3/2015–3/2017 230 414 HVF Series 2013-1 (2) 1.68% Fixed 8/2016–8/2018 950 950 1,420 2,258 RCFC U.S. ABS Program RCFC Series 2011-1 Notes (2)(3) N/A N/A N/A — 167 RCFC Series 2011-2 Notes (2)(3) N/A N/A N/A — 266 — 433 HVF II U.S. ABS Program HVF II U.S. Fleet Variable Funding Notes: HVF II Series 2013-A 1.27% Floating 10/2017 980 1,999 HVF II Series 2013-B 1.32% Floating 10/2017 1,308 976 HVF II Series 2014-A 1.78% Floating 10/2016 1,737 869 4,025 3,844 HVF II U.S. Fleet Medium Term Notes HVF II Series 2015-1 (2) 2.93% Fixed 3/2020 780 — HVF II Series 2015-2 (2) 2.30% Fixed 9/2018 250 — HVF II Series 2015-3 (2) 2.96% Fixed 9/2020 350 — 1,380 — Donlen ABS Program HFLF Variable Funding Notes HFLF Series 2013-2 Notes (2) 1.19% Floating 9/2017 370 247 370 247 HFLF Medium Term Notes HFLF Series 2013-3 Notes (2) 0.98% Floating 9/2016–11/2016 270 500 HFLF Series 2014-1 Notes (2) 0.85% Floating 12/2016–3/2017 288 400 HFLF Series 2015-1 Notes (2) 0.96% Floating 3/2018–5/2018 295 — Facility Weighted Average Interest Rate at December 31, 2015 Fixed or Floating Interest Rate Maturity December 31, December 31, 853 900 Other Fleet Debt U.S. Fleet Financing Facility 2.95% Floating 3/2017 190 164 European Revolving Credit Facility 2.55% Floating 10/2017 273 304 European Fleet Notes 4.38% Fixed 1/2019 464 517 European Securitization (2) 1.54% Floating 10/2017 267 270 Canadian Securitization (2) 1.78% Floating 1/2018 148 — Hertz-Sponsored Canadian Securitization (2) N/A N/A N/A — 105 Dollar Thrifty-Sponsored Canadian Securitization (2)(3) N/A N/A N/A — 40 Australian Securitization (2) 3.80% Floating 12/2016 98 112 Brazilian Fleet Financing Facility 17.94% Floating 4/2016 7 11 Capitalized Leases 2.67% Floating 2/2015–10/2017 362 364 Unamortized Net (Discount) Premium (Fleet) (7 ) (7 ) 1,802 1,880 Total Fleet Debt 9,850 9,562 Total Debt $ 15,907 $ 15,993 N/A - Not Applicable (1) References to the Company's "Senior Notes" include the series of Hertz's unsecured senior notes set forth in the table below. The outstanding principal amount for each such series of the Senior Notes is also specified below. (In millions) Outstanding Principal Senior Notes December 31, 2015 December 31, 2014 4.25% Senior Notes due April 2018 $ 250 $ 250 7.50% Senior Notes due October 2018 700 700 6.75% Senior Notes due April 2019 1,250 1,250 5.875% Senior Notes due October 2020 700 700 7.375% Senior Notes due January 2021 500 500 6.25% Senior Notes due October 2022 500 500 $ 3,900 $ 3,900 (2) Maturity reference is to the "expected final maturity date" as opposed to the subsequent "legal maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness expect the relevant indebtedness to be repaid, which in the case of the HFLF Medium Term Notes was based upon various assumptions made at the time of the pricing of such notes. The legal final maturity date is the date on which the relevant indebtedness is legally due and payable. (3) RCFC U.S. ABS Program and the Dollar Thrifty-Sponsored Canadian Securitization represent fleet debt assumed in connection with the Dollar Thrifty acquisition in 2012.	The fair value of the Company's debt is estimated based on quoted market rates as well as borrowing rates currently available for loans with similar terms and average maturities (Level 2 inputs). As of December 31, 2015 As of December 31, 2014 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Corporate Debt $ 6,055 $ 6,134 $ 6,428 $ 6,468 Fleet Debt 9,857 9,854 9,569 9,595 Total $ 15,912 $ 15,988 $ 15,997 $ 16,063
Assets and Liabilities Measure on a Non-Recurring Basis	Assets and liabilities measured at fair value during the year ended December 31, 2015 are as follows: (In millions) Balance Level 1 Level 2 Level 3 Total Loss Adjustments Long-lived assets held for sale $ 25 $ — $ — $ 25 $ 5

Accumulated Other Comprehensi44

Accumulated Other Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2015
Reclassification out of Accumulated Other Comprehensive Income [Abstract]
Schedule of Accumulated Other Comprehensive Income (Loss)	Changes in the accumulated other comprehensive income (loss) balance by component (net of tax) are as follows: (In millions) Pension and Other Post-Employment Benefits Foreign Currency Items Unrealized Losses on Terminated Net Investment Hedges Unrealized Gains on Available for Sale Securities Accumulated Other Comprehensive Income (Loss) Balance as of January 1, 2015 $ (101 ) $ 5 $ (19 ) $ — $ (115 ) Other comprehensive income (loss) before reclassification (8 ) (87 ) — — (95 ) Amounts reclassified from accumulated other comprehensive loss 7 (42 ) — — (35 ) Balance as of December 31, 2015 $ (102 ) $ (124 ) $ (19 ) $ — $ (245 ) (In millions) Pension and Other Post-Employment Benefits Foreign Currency Items Unrealized Losses on Terminated Net Investment Hedges Unrealized Gains on Available for Sale Securities Accumulated Other Comprehensive Income (Loss) Balance as of January 1, 2014 $ (58 ) $ 62 $ (19 ) $ 21 $ 6 Other comprehensive (loss) before reclassification (34 ) (57 ) — (14 ) (105 ) Amounts reclassified from accumulated other comprehensive income (loss) (9 ) — — (7 ) (16 ) Balance as of December 31, 2014 $ (101 ) $ 5 $ (19 ) $ — $ (115 )

Guarantor and Non-Guarantor C45

Guarantor and Non-Guarantor Condensed Consolidating Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2015
Guarantor and Non-Guarantor Condensed Consolidating Financial Statements Disclosure
Condensed Balance Sheet	CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2015 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries ASSETS Cash and cash equivalents $ 179 $ 17 $ 283 $ — $ 479 Restricted cash and cash equivalents 57 19 273 — 349 Receivables, net of allowance 399 428 1,247 — 2,074 Due from affiliates 4,158 3,238 7,543 (14,939 ) — Inventories, net 15 21 15 — 51 Prepaid expenses and other assets 4,285 963 37 (4,437 ) 848 Revenue earning equipment, net 388 2,087 10,653 — 13,128 Property and equipment, net 777 288 183 — 1,248 Investment in subsidiaries, net 7,593 1,161 — (8,754 ) — Other intangible assets, net 136 3,656 30 — 3,822 Goodwill 102 1,035 217 — 1,354 Total assets $ 18,089 $ 12,913 $ 20,481 $ (28,130 ) $ 23,353 LIABILITIES AND EQUITY Due to affiliates $ 8,888 $ 2,129 $ 3,922 $ (14,939 ) $ — Accounts payable 262 171 442 — 875 Accrued liabilities 608 155 343 — 1,106 Accrued taxes, net 65 30 2,842 (2,765 ) 172 Debt 6,172 64 9,671 — 15,907 Public liability and property damage 146 56 200 — 402 Deferred taxes on income, net — 2,703 1,912 (1,672 ) 2,943 Total liabilities 16,141 5,308 19,332 (19,376 ) 21,405 Equity: Stockholder's equity 1,948 7,605 1,149 (8,754 ) 1,948 Total liabilities and equity $ 18,089 $ 12,913 $ 20,481 $ (28,130 ) $ 23,353 CONDENSED CONSOLIDATING BALANCE SHEET December 31, 2014 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries ASSETS Cash and cash equivalents $ 2 $ 14 $ 474 $ — $ 490 Restricted cash and cash equivalents 84 26 461 — 571 Receivables, net of allowance 272 419 906 — 1,597 Due from affiliates 2,957 1,528 4,395 (8,785 ) 95 Inventories, net 20 25 22 — 67 Prepaid expenses and other assets 3,900 831 87 (3,901 ) 917 Revenue earning equipment, net 306 1,988 11,359 — 13,653 Property and equipment, net 730 308 284 — 1,322 Investment in subsidiaries, net 6,897 1,607 — (8,504 ) — Other intangible assets, net 179 3,777 53 — 4,009 Goodwill 104 1,033 222 — 1,359 Total assets $ 15,451 $ 11,556 $ 18,263 $ (21,190 ) $ 24,080 LIABILITIES AND EQUITY Due to affiliates $ 5,702 $ 1,005 $ 2,078 $ (8,785 ) $ — Accounts payable 65 212 731 — 1,008 Accrued liabilities 599 231 318 — 1,148 Accrued taxes 62 31 2,252 (2,211 ) 134 Debt 6,393 74 9,526 — 15,993 Public liability and property damage 135 57 193 — 385 Deferred taxes on income, net — 2,541 2,066 (1,690 ) 2,917 Total liabilities 12,956 4,151 17,164 (12,686 ) 21,585 Equity: Stockholder's equity 2,495 7,405 1,099 (8,504 ) 2,495 Total liabilities and equity $ 15,451 $ 11,556 $ 18,263 $ (21,190 ) $ 24,080
Condensed Income Statement	CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2015 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Total revenues $ 4,618 $ 2,788 $ 5,729 $ (2,600 ) $ 10,535 Expenses: Direct operating 2,886 1,510 1,502 (2 ) 5,896 Depreciation of revenue earning equipment and lease charges, net 1,951 934 2,474 (2,597 ) 2,762 Selling, general and administrative 522 215 309 (1 ) 1,045 Interest expense, net 352 13 254 — 619 Other (income) expense, net — 42 (173 ) — (131 ) Total expenses 5,711 2,714 4,366 (2,600 ) 10,191 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (1,093 ) 74 1,363 — 344 (Provision) benefit for taxes on income (loss) 261 (27 ) (302 ) — (68 ) Equity in earnings (losses) of subsidiaries, net of tax 1,108 261 — (1,369 ) — Net income (loss) $ 276 $ 308 $ 1,061 $ (1,369 ) $ 276 Other comprehensive income (loss), net of tax (130 ) (4 ) (114 ) 118 (130 ) Comprehensive income (loss) $ 146 $ 304 $ 947 $ (1,251 ) $ 146 CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2014 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Total revenues $ 4,703 $ 2,799 $ 6,601 $ (3,057 ) $ 11,046 Expenses: Direct operating 2,989 1,523 1,804 (2 ) 6,314 Depreciation of revenue earning equipment and lease charges, net 2,510 766 2,809 (3,051 ) 3,034 Selling, general and administrative 528 216 348 (4 ) 1,088 Interest expense, net 344 20 277 — 641 Other (income) expense, net (22 ) (5 ) 12 — (15 ) Total expenses 6,349 2,520 5,250 (3,057 ) 11,062 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (1,646 ) 279 1,351 — (16 ) (Provision) benefit for taxes on income (loss) 612 (150 ) (524 ) — (62 ) Equity in earnings (losses) of subsidiaries, net of tax 956 114 — (1,070 ) — Net income (loss) $ (78 ) $ 243 $ 827 $ (1,070 ) $ (78 ) Other comprehensive income (loss), net of tax (121 ) (6 ) (112 ) 118 (121 ) Comprehensive income (loss) $ (199 ) $ 237 $ 715 $ (952 ) $ (199 ) CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) For the Year Ended December 31, 2013 (In millions) Parent Guarantor Non- Eliminations The Hertz Total revenues $ 4,552 $ 2,678 $ 6,712 $ (3,167 ) $ 10,775 Expenses: Direct operating 2,576 1,468 1,735 (2 ) 5,777 Depreciation of revenue earning equipment and lease charges, net 2,723 656 2,316 (3,162 ) 2,533 Selling, general and administrative 510 214 332 (3 ) 1,053 Interest expense, net of interest income 337 34 298 — 669 Other (income) expense, net 51 (6 ) 19 — 64 Total expenses 6,197 2,366 4,700 (3,167 ) 10,096 Income (loss) before income taxes and equity in earnings (losses) of subsidiaries (1,645 ) 312 2,012 — 679 (Provision) benefit for taxes on income (loss) 619 (130 ) (818 ) — (329 ) Equity in earnings (losses) of subsidiaries, net of tax 1,376 155 — (1,531 ) — Net income (loss) $ 350 $ 337 $ 1,194 $ (1,531 ) $ 350 Other comprehensive income (loss), net of tax 29 (7 ) (21 ) 28 29 Comprehensive income (loss) $ 379 $ 330 $ 1,173 $ (1,503 ) $ 379
Condensed Cash Flow Statement	CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2015 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Net cash provided by (used in) operating activities $ (1,485 ) $ 245 $ 5,096 $ (524 ) $ 3,332 Cash flows from investing activities: Net change in restricted cash and cash equivalents 25 7 183 — 215 Revenue earning equipment expenditures (434 ) (603 ) (11,621 ) — (12,658 ) Proceeds from disposal of revenue earning equipment 303 161 9,159 — 9,623 Capital asset expenditures, non-fleet (154 ) (68 ) (105 ) — (327 ) Proceeds from disposal of property and equipment 53 13 49 — 115 Sales of (investment in) shares in equity method investment — — 236 — 236 Capital contributions to subsidiaries (2,650 ) (181 ) — 2,831 — Return of capital from subsidiaries 4,634 443 — (5,077 ) — Loan to Parent / Guarantor from Non-Guarantor — — (737 ) 737 — Acquisitions, net of cash acquired (17 ) (3 ) (75 ) — (95 ) Proceeds from disposal of business — — 126 — 126 Advances to Hertz Global Holdings, Inc. (267 ) — — — (267 ) Net cash provided by (used in) investing activities 1,493 (231 ) (2,785 ) (1,509 ) (3,032 ) Cash flows from financing activities: Proceeds from issuance of long-term debt 2 — 1,674 — 1,676 Repayment of long-term debt (23 ) — (1,270 ) — (1,293 ) Short-term borrowings: Proceeds — — 623 — 623 Payments — — (617 ) — (617 ) Proceeds under the revolving lines of credit 1,892 — 5,205 — 7,097 Payments under the revolving lines of credit (2,091 ) (8 ) (5,294 ) — (7,393 ) Capital contributions received from parent — — 2,831 (2,831 ) — Loan to Parent / Guarantor From Non-Guarantor 737 — — (737 ) — Payment of dividends and return of capital — — (5,601 ) 5,601 — Payment of financing costs (4 ) (3 ) (22 ) — (29 ) Advances to Hertz Global Holdings, Inc. (344 ) — — — (344 ) Other — — — — — Net cash provided by (used in) financing activities 169 (11 ) (2,471 ) 2,033 (280 ) Effect of foreign exchange rate changes on cash and cash equivalents — — (31 ) — (31 ) Net increase (decrease) in cash and cash equivalents during the period 177 3 (191 ) — (11 ) Cash and cash equivalents at beginning of period 2 14 474 — 490 Cash and cash equivalents at end of period $ 179 $ 17 $ 283 $ — $ 479 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2014 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Net cash provided by (used in) operating activities $ (387 ) $ 456 $ 4,425 $ (1,037 ) $ 3,457 Cash flows from investing activities: Net change in restricted cash and cash equivalents (27 ) 45 265 — 283 Revenue earning equipment expenditures (243 ) (596 ) (10,450 ) — (11,289 ) Proceeds from disposal of revenue earning equipment 183 261 7,765 — 8,209 Capital asset expenditures, non-fleet (195 ) (54 ) (125 ) — (374 ) Proceeds from disposal of property and equipment 43 17 33 — 93 Capital contributions to subsidiaries (1,614 ) (37 ) — 1,651 — Return of capital from subsidiaries 1,722 — — (1,722 ) — Loan to Parent / Guarantor from Non-Guarantor — (43 ) (437 ) 480 — Acquisitions, net of cash acquired — (28 ) (47 ) — (75 ) Equity method investment — — (30 ) — (30 ) Repayments of loans with Hertz Global Holdings, Inc. (28 ) — — — (28 ) Proceeds from loans with Hertz Global Holdings, Inc. 25 — — — 25 Net cash provided by (used in) investing activities (134 ) (435 ) (3,026 ) 409 (3,186 ) Cash flows from financing activities: Proceeds from issuance of long-term debt — — 400 — 400 Repayment of long-term debt (42 ) — (1,141 ) — (1,183 ) Short-term borrowings: Proceeds — — 626 — 626 Payments — — (726 ) — (726 ) Proceeds under the revolving lines of credit 2,507 — 3,357 — 5,864 Payments under the revolving lines of credit (2,431 ) (10 ) (2,640 ) — (5,081 ) Capital contributions received — — 1,651 (1,651 ) — Loan to Parent / Guarantor From Non-Guarantor 437 — 43 (480 ) — Payment of dividends and return of capital — — (2,759 ) 2,759 — Payment of financing costs (12 ) (3 ) (48 ) — (63 ) Other 2 — — — 2 Net cash provided by (used in) financing activities 461 (13 ) (1,237 ) 628 (161 ) Effect of foreign exchange rate changes on cash and cash equivalents — — (31 ) — (31 ) Net increase (decrease) in cash and cash equivalents during the period (60 ) 8 131 — 79 Cash and cash equivalents at beginning of period 62 6 343 — 411 Cash and cash equivalents at end of period $ 2 $ 14 $ 474 $ — $ 490 CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS For the Year Ended December 31, 2013 (In millions) Parent (The Hertz Corporation) Guarantor Subsidiaries Non- Guarantor Subsidiaries Eliminations The Hertz Corporation & Subsidiaries Net cash provided by (used in) operating activities $ 164 $ 540 $ 3,827 $ (916 ) $ 3,615 Cash flows from investing activities: Net change in restricted cash and cash equivalents (24 ) (60 ) (231 ) — (315 ) Revenue earning equipment expenditures (138 ) (889 ) (9,262 ) — (10,289 ) Proceeds from disposal of revenue earning equipment 126 353 6,777 — 7,256 Capital asset expenditures, non-fleet (198 ) (40 ) (89 ) — (327 ) Proceeds from disposal of property and equipment 50 6 25 — 81 Capital contributions to subsidiaries (938 ) — — 938 — Return of capital from subsidiaries 1,134 183 — (1,317 ) — Loan to Parent / Guarantor from Non-Guarantor — (57 ) (196 ) 253 — Acquisitions, net of cash acquired — (15 ) (26 ) — (41 ) Equity method investment — — (213 ) — (213 ) Repayments of loans with Hertz Global Holdings, Inc. (129 ) — — — (129 ) Proceeds from loans with Hertz Global Holdings, Inc. 49 — — — 49 Other — — (2 ) — (2 ) Net cash provided by (used in) investing activities (68 ) (519 ) (3,217 ) (126 ) (3,930 ) Cash flows from financing activities: Proceeds from issuance of long-term debt 250 — 2,025 — 2,275 Repayment of long-term debt (34 ) — (1,011 ) — (1,045 ) Short-term borrowings: Proceeds — — 596 — 596 Payments — — (1,018 ) — (1,018 ) Proceeds under the revolving lines of credit 2,280 3 6,729 — 9,012 Payments under the revolving lines of credit (2,322 ) (14 ) (6,768 ) — (9,104 ) Capital contributions received — — 938 (938 ) — Loan to Parent / Guarantor From Non-Guarantor 253 — — (253 ) — Payment of dividends and return of capital (482 ) — (2,233 ) 2,233 (482 ) Payment of financing costs (9 ) (10 ) (35 ) — (54 ) Other 5 — — — 5 Net cash provided by (used in) financing activities (59 ) (21 ) (777 ) 1,042 185 Effect of foreign exchange rate changes on cash and cash equivalents — — — — — Net increase (decrease) in cash and cash equivalents during the period 37 — (167 ) — (130 ) Cash and cash equivalents at beginning of period 25 6 510 — 541 Cash and cash equivalents at end of period $ 62 $ 6 $ 343 $ — $ 411

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Summary of contribution of reportable segments to revenues and adjusted pre-tax income (loss) and the reconciliation to consolidated amounts	The contribution of the Company's reportable segments to revenues and adjusted pre-tax income (loss) and the reconciliation to consolidated amounts are summarized below. Years Ended December 31, (In millions) 2015 2014 2013 Revenues U.S. car rental $ 6,286 $ 6,471 $ 6,331 International car rental 2,148 2,436 2,378 Worldwide equipment rental 1,518 1,571 1,539 All other operations 583 568 527 Total $ 10,535 $ 11,046 $ 10,775 Adjusted pre-tax income (a) U.S. car rental $ 551 $ 387 $ 1,033 International car rental 215 144 134 Worldwide equipment rental 189 258 301 All other operations 68 62 58 Corporate (448 ) (443 ) (401 ) Total $ 575 $ 408 $ 1,125 Depreciation of revenue earning equipment and lease charges, net U.S. car rental $ 1,572 $ 1,758 $ 1,281 International car rental 398 492 528 Worldwide equipment rental 329 329 299 All other operations 463 455 425 Total $ 2,762 $ 3,034 $ 2,533 Depreciation and amortization, non-fleet assets U.S. car rental $ 209 $ 222 $ 207 International car rental 37 41 37 Worldwide equipment rental 77 75 74 All other operations 10 11 10 Corporate 19 17 11 Total $ 352 $ 366 $ 339 Interest expense, net U.S. car rental $ 165 $ 172 $ 187 International car rental 70 95 113 Worldwide equipment rental 57 53 46 All other operations 10 12 14 Corporate 317 309 309 Total $ 619 $ 641 $ 669 Years Ended December 31, (In millions) 2015 2014 2013 Revenue earning equipment and capital assets, non-fleet U.S. car rental: Expenditures $ (7,930 ) $ (6,175 ) $ (6,242 ) Proceeds from disposals 6,280 4,530 4,385 Net expenditures $ (1,650 ) $ (1,645 ) $ (1,857 ) International car rental: Expenditures $ (2,887 ) $ (3,165 ) $ (2,640 ) Proceeds from disposals 2,412 2,531 2,251 Net expenditures $ (475 ) $ (634 ) $ (389 ) Worldwide equipment rental: Expenditures $ (670 ) $ (658 ) $ (694 ) Proceeds from disposals 156 197 141 Net expenditures $ (514 ) $ (461 ) $ (553 ) All other operations: Expenditures $ (1,397 ) $ (1,611 ) $ (1,012 ) Proceeds from disposals 841 1,010 556 Net expenditures $ (556 ) $ (601 ) $ (456 ) Corporate: Expenditures $ (101 ) $ (54 ) $ (28 ) Proceeds from disposals 49 34 4 Net expenditures $ (52 ) $ (20 ) $ (24 ) As of December 31, (In millions) 2015 2014 Total assets at end of year U.S. car rental $ 13,614 $ 13,712 International car rental 3,007 3,358 Worldwide equipment rental 3,809 3,836 All other operations 1,522 1,458 Corporate 1,401 1,716 Total $ 23,353 $ 24,080 Revenue earning equipment, net, at end of year U.S. car rental $ 7,600 $ 8,070 International car rental 1,858 1,904 Worldwide equipment rental 2,382 2,442 All other operations 1,288 1,237 Total $ 13,128 $ 13,653 Property and equipment, net, at end of year U.S. car rental $ 730 $ 789 International car rental 135 155 Worldwide equipment rental 247 265 All other operations 5 6 Corporate 131 107 Total $ 1,248 $ 1,322 The operations within major geographic areas are summarized below: Years Ended December 31, (In millions) 2015 2014 2013 Revenues United States $ 8,066 $ 8,158 $ 7,921 International 2,469 2,888 2,854 Total $ 10,535 $ 11,046 $ 10,775 As of December 31, (In millions) 2015 2014 Total assets at end of year United States $ 18,881 $ 19,172 International 4,472 4,908 Total $ 23,353 $ 24,080 Revenue earning equipment, net, at end of year United States $ 10,938 $ 11,235 International 2,190 2,418 Total $ 13,128 $ 13,653 Property and equipment, net, at end of year United States $ 1,081 $ 1,118 International 167 204 Total $ 1,248 $ 1,322 (a) The following table reconciles adjusted pre-tax income to income before income taxes. Years Ended December 31, (In millions) 2015 2014 2013 Adjusted pre-tax income (loss): U.S. car rental $ 551 $ 387 $ 1,033 International car rental 215 144 134 Worldwide equipment rental 189 258 301 All other operations 68 62 58 Total reportable segments 1,023 851 1,526 Corporate (1) (448 ) (443 ) (401 ) Consolidated adjusted pre-tax income (loss) 575 408 1,125 Adjustments: Acquisition accounting (2) (124 ) (132 ) (132 ) Debt-related charges (3) (63 ) (51 ) (49 ) Restructuring and restructuring related charges (4) (96 ) (159 ) (99 ) Acquisition related costs and charges (5) (3 ) (10 ) (19 ) Integration expenses (6) (5 ) (9 ) (43 ) Equipment Rental spin-off costs (7) (35 ) (39 ) — Relocation costs (8) (5 ) (9 ) (7 ) Premiums paid on debt (9) — — (29 ) Loss on extinguishment of debt (10) — (1 ) (7 ) Sale of CAR Inc. common stock (11) 133 — — Gain on divestitures (12) 51 — — Impairment charges and asset write-downs (13) (57 ) (34 ) (40 ) Other (14) (27 ) 20 (21 ) Income (loss) before income taxes $ 344 $ (16 ) $ 679 (1) Represents general corporate expenses, certain interest expense (including net interest on corporate debt), as well as other business activities. (2) Represents the increase in amortization of other intangible assets, depreciation of property and equipment and accretion of revalued liabilities relating to acquisition accounting. (3) Represents debt-related charges relating to the amortization of deferred debt financing costs and debt discounts and premiums. (4) Represents expenses incurred under restructuring actions as defined in U.S. GAAP. For further information on restructuring costs, see Note 11 " Restructuring ," to the Notes to our consolidated financial statements. Also represents incremental costs incurred directly supporting the Company's business transformation initiatives. Such costs include transition costs incurred in connection with its business process outsourcing arrangements and incremental costs incurred to facilitate business process re-engineering initiatives that involve significant organization redesign and extensive operational process changes. Amounts in 2015 and 2014 also includes consulting costs and legal fees related to the accounting review and investigation, one time costs to terminate certain marketing and co-branding agreements, and costs associated with the separation of certain executives during the year. (5) Acquisition related costs and charges during the period. (6) Primarily represents Dollar Thrifty integration related expenses. (7) Represents expenses associated with the anticipated HERC spin-off transaction announced in March 2014. In 2015, $26 million were incurred by HERC and $9 million by Corporate. In 2014, $28 million were incurred by HERC and $11 million by Corporate. (8) Represents non-recurring costs incurred in connection with the relocation of the Company's corporate headquarters to Estero, Florida that were not included in restructuring expenses. Such expenses primarily include duplicate facility rent, certain moving expenses, and other costs that are direct and incremental due to the relocation. (9) In 2013, represents premiums paid to redeem the Company's 8.50% Former European Fleet Notes. (10) In 2013, represents extinguishment of debt for Senior Convertible Notes. (11) In 2015, represents the pre-tax gain on the sale of approximately 138 million shares of CAR Inc. common stock. (12) In 2015, represents the pre-tax gain on the sale of our HERC France and Spain businesses. (13) In 2015, primarily comprised of a $40 million write down of the HERC trade name. Also includes a $6 million impairment on the former Dollar Thrifty headquarters in Tulsa, Oklahoma, a $5 million impairment on a building in the U.S. Car Rental segment, $3 million impairment on a held for sale corporate asset, and write downs of $3 million associated with U.S. Car Rental service equipment and assets. In 2014, primarily comprised of a $13 million impairment related to our former corporate headquarters building in New Jersey, a $10 million impairment of HERC revenue earning equipment held for sale and a $10 million impairment of assets related to a contract termination. In 2013, primarily related to a $40 million impairment in the carrying value of the vehicles subleased to FSNA and its subsidiary, Simply Wheelz. (14) Includes miscellaneous, non-recurring or non-cash items. For 2015, primarily represents a charge of $23 million recorded in relation to a French road tax matter. In 2014 , primarily comprised of a $19 million litigation settlement received in relation to a class action lawsuit filed against an original equipment manufacturer. In 2013, primarily represents cash premiums of $12 million associated with the conversion of the Senior Convertible Notes and $5 million of depreciation expense related to HERC.

Quarterly Financial Informati47

Quarterly Financial Information (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Operating Results	First Second Third Fourth (In millions) 2015 2015 2015 2015 Revenues: $ 2,454 $ 2,692 $ 2,976 $ 2,413 Income (loss) before income taxes (86 ) 71 308 50 Net income (loss) (70 ) 36 238 71 First Second Third Fourth (In millions) 2014 2014 2014 2014 Revenues: $ 2,536 $ 2,830 $ 3,121 $ 2,559 Income (loss) before income taxes (59 ) 123 204 (284 ) Net income (loss) (67 ) 73 150 (234 )

Background (Details)

Background (Details)	Mar. 31, 2014company
Background Disclosure [Abstract]
Number of publicly traded companies	2

Summary of Critical and Signi49

Summary of Critical and Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income (loss) before income taxes	$ 50	$ 308	$ 71	$ (86)	$ (284)	$ 204	$ 123	$ (59)	$ 344	$ (16)	$ 679
Net income (loss)	$ 71	238	$ 36	$ (70)	$ (234)	$ 150	$ 73	$ (67)	$ 276	(78)	350
Cash and cash equivalents maximum maturity period									3 months
Advertising expense									$ 170	$ 199	$ 207
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Intangible asset useful life									2 years
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Intangible asset useful life									16 years
Restatement Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income (loss) before income taxes		(18)
Net income (loss)		(13)							$ (9)
Restatement Adjustment | Prior Period Misstatements Corrected in Current Period
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income (loss) before income taxes									(13)
Restatement Adjustment | Post Acquisition Accounting Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income (loss) before income taxes		(4)							(4)
Restatement Adjustment | Concession Fee Recoveries
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income (loss) before income taxes		(4)							(4)
Restatement Adjustment | Adjustment to Obligations for Uncollected Customer Fees
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income (loss) before income taxes		(4)							(4)
Restatement Adjustment | Capitalization and Timing of Depreciation or Non-Fleet Expenditures
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Income (loss) before income taxes		$ (3)							$ (1)

Summary of Critical and Signi50

Summary of Critical and Significant Accounting Policies (Share-based Compensation) (Details)	12 Months Ended
	Dec. 31, 2015
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	2 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	4 years

Summary of Critical and Signi51

Summary of Critical and Significant Accounting Policies (Property, Plant and Equipment) (Details)	12 Months Ended
	Dec. 31, 2015
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	5 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	50 years
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	1 year
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	15 years
Capitalized internal use software | Minimum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	1 year
Capitalized internal use software | Maximum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	10 years
Service cars and service equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	1 year
Service cars and service equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	13 years
Other intangible assets | Minimum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	3 years
Other intangible assets | Maximum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	10 years
Cars | Minimum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	6 months
Cars | Maximum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	36 months
Other equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	24 months
Other equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful lives of property, plant and equipment	108 months

Acquistions and Divestitures (A

Acquistions and Divestitures (Acquisition) (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended		12 Months Ended
	Feb. 28, 2015	Sep. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Aug. 31, 2015
Acquisition
Equity method investment			$ (236)	$ 30	$ 213
Hertz Franchises
Acquisition
Payments to acquire business	$ 87
Acquired fleets and contract and concession rights	$ 87
Dollar Thrifty
Acquisition
Acquired fleets and contract and concession rights						$ 62
CAR, Inc
Acquisition
Equity method investment		$ 30			$ 236
Ownership percentage		16.00%	10.20%	16.20%
Common Stock | CAR, Inc
Acquisition
Number of shares issued in transaction			138
Net sales proceeds			$ 236
Realized gain (loss)			$ 133

Acquistions and Divestitures (S

Acquistions and Divestitures (Schedule of Assets Acquired Liabilities Assumed) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Aug. 31, 2015	Feb. 28, 2015	Dec. 31, 2014	Dec. 31, 2013
Acquisition
Goodwill	$ 1,354			$ 1,359	$ 1,352
Hertz Franchises
Acquisition
Revenue earning equipment			$ 71
Property and other equipment			6
Other intangible assets			9
Goodwill			1
Total			$ 87
Dollar Thrifty
Acquisition
Revenue earning equipment		$ 43
Property and other equipment		1
Other intangible assets		7
Goodwill		11
Total		$ 62

Acquistions and Divestitures (D

Acquistions and Divestitures (Divestitures) (Details) $ in Millions	Oct. 30, 2015USD ($)location	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reclassification of foreign currency items to other (income) expense, net | $		$ (42)	$ 0	$ 1
HERC | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Realized gain (loss) | $	$ 51
HERC | Disposed of by Sale | FRANCE
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses divested | location	60
HERC | Disposed of by Sale | SPAIN
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of businesses divested | location	2

Revenue Earning Equipment (Deta

Revenue Earning Equipment (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Revenue earning equipment	$ 16,768	$ 17,837
Less: Accumulated depreciation	(3,775)	(4,427)
Property subject to or available for operating lease, excluding assets held for sale	12,993	13,410
Revenue earning equipment held for sale, net	135	243
Revenue earning equipment, net, at end of year	13,128	13,653
Depreciation of revenue earning equipment	2,614	2,787	$ 2,415
(Gain) loss on disposal of revenue earning equipment(a)	76	167	37
Rents paid for vehicles leased	72	80	81
Total	2,762	3,034	2,533
U.S. car rental
Property, Plant and Equipment [Line Items]
(Gain) loss on disposal of revenue earning equipment(a)	97	178	48
International car rental
Property, Plant and Equipment [Line Items]
(Gain) loss on disposal of revenue earning equipment(a)	(8)	(2)	15
Worldwide equipment rental
Property, Plant and Equipment [Line Items]
(Gain) loss on disposal of revenue earning equipment(a)	$ (13)	$ (9)	$ (26)

Revenue Earning Equipment (Depr

Revenue Earning Equipment (Depreciation Rates) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information [Line Items]
Net increase (decrease) in depreciation expenses	$ 102	$ 164	$ (39)
U.S. car rental
Segment Reporting Information [Line Items]
Net increase (decrease) in depreciation expenses	101	167	(44)
International car rental
Segment Reporting Information [Line Items]
Net increase (decrease) in depreciation expenses	(1)	(3)	5
Worldwide equipment rental
Segment Reporting Information [Line Items]
Net increase (decrease) in depreciation expenses	$ 2	$ 0	$ 0

Goodwill and Other Intangible57

Goodwill and Other Intangible Assets (Summary of Changes in Goodwill, by Segment) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2015
Goodwill
Balance at the beginning of the period	$ 2,080	$ 2,073
Accumulated impairment losses at the beginning of the period	(721)	(721)
Net goodwill, balance at the beginning of the period	1,359	1,352
Goodwill acquired during the period	3	13
Adjustments to previously recorded purchase price allocation		(1)
Other changes during the period	(8)	(5)
Total changes in goodwill	(5)	7
Balance at the end of the period	2,075	2,080
Accumulated impairment losses at the end of the period	(721)	(721)
Net goodwill, balance at the end of the period	1,359	1,352	$ 1,354
U.S. car rental
Goodwill
Balance at the beginning of the period	1,025	1,012
Accumulated impairment losses at the beginning of the period	0	0
Net goodwill, balance at the beginning of the period	1,025	1,012
Goodwill acquired during the period	3	13
Adjustments to previously recorded purchase price allocation		0
Other changes during the period	0	0
Total changes in goodwill	3	13
Balance at the end of the period	1,028	1,025
Accumulated impairment losses at the end of the period	0	0
Net goodwill, balance at the end of the period	1,025	1,012	1,028
International car rental
Goodwill
Balance at the beginning of the period	248	254
Accumulated impairment losses at the beginning of the period	(46)	(46)
Net goodwill, balance at the beginning of the period	202	208
Goodwill acquired during the period	0	0
Adjustments to previously recorded purchase price allocation		(1)
Other changes during the period	(4)	(5)
Total changes in goodwill	(4)	(6)
Balance at the end of the period	244	248
Accumulated impairment losses at the end of the period	(46)	(46)
Net goodwill, balance at the end of the period	202	208	198
Worldwide equipment rental
Goodwill
Balance at the beginning of the period	772	772
Accumulated impairment losses at the beginning of the period	(675)	(675)
Net goodwill, balance at the beginning of the period	97	97
Goodwill acquired during the period	0	0
Adjustments to previously recorded purchase price allocation		0
Other changes during the period	(4)	0
Total changes in goodwill	(4)	0
Balance at the end of the period	768	772
Accumulated impairment losses at the end of the period	(675)	(675)
Net goodwill, balance at the end of the period	97	97	93
All Other Operations
Goodwill
Balance at the beginning of the period	35	35
Accumulated impairment losses at the beginning of the period	0	0
Net goodwill, balance at the beginning of the period	35	35
Goodwill acquired during the period	0	0
Adjustments to previously recorded purchase price allocation		0
Other changes during the period	0	0
Total changes in goodwill	0	0
Balance at the end of the period	35	35
Accumulated impairment losses at the end of the period	0	0
Net goodwill, balance at the end of the period	$ 35	$ 35	$ 35

Goodwill and Other Intangible58

Goodwill and Other Intangible Assets (Schedule of Components of Other Intangible Assets by Major Class) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Amortizable intangible assets:
Gross Carrying Amount	$ 1,496	$ 1,518
Accumulated Amortization	(982)	(861)
Net Carrying Value	514	657
Indefinite-lived intangible assets:
Carrying Amount	3,308	3,352
Total Other intangible assets
Gross Carrying Amount	4,804	4,870
Accumulated Amortization	(982)	(861)
Net Carrying Value	3,822	4,009
Trade name
Indefinite-lived intangible assets:
Carrying Amount	3,286	3,330
Other
Indefinite-lived intangible assets:
Carrying Amount	22	22
Customer-related
Amortizable intangible assets:
Gross Carrying Amount	684	692
Accumulated Amortization	(625)	(568)
Net Carrying Value	59	124
Total Other intangible assets
Accumulated Amortization	(625)	(568)
Concession rights
Amortizable intangible assets:
Gross Carrying Amount	411	410
Accumulated Amortization	(144)	(97)
Net Carrying Value	267	313
Total Other intangible assets
Accumulated Amortization	(144)	(97)
Technology-related intangibles
Amortizable intangible assets:
Gross Carrying Amount	308	338
Accumulated Amortization	(152)	(147)
Net Carrying Value	156	191
Total Other intangible assets
Accumulated Amortization	(152)	(147)
Other
Amortizable intangible assets:
Gross Carrying Amount	93	78
Accumulated Amortization	(61)	(49)
Net Carrying Value	32	29
Total Other intangible assets
Accumulated Amortization	$ (61)	$ (49)

Goodwill and Other Intangible59

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Finite-Lived Intangible Assets [Line Items]
Indefinite lived tradename		$ 266
Amortization of other intangible assets		156	$ 159	$ 151
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Expected amortization expense in 2016		115
Expected amortization expense in 2017		92
Expected amortization expense in 2018		72
Expected amortization expense in 2019		71
Expected amortization expense in 2020		69
Expected amortization expense thereafter		$ 95
Trade name | Other Operating Income (Expense) | HERC
Finite-Lived Intangible Assets [Line Items]
Impairment of indefinite lived intangible assets	$ 40
Trade name | Selling, General and Administrative Expenses | HERC
Finite-Lived Intangible Assets [Line Items]
Impairment of finite lived intangible assets	$ 4

Debt (Details)

Debt (Details) CAD in Millions	12 Months Ended
	Dec. 31, 2015USD ($)	Oct. 31, 2015USD ($)	Sep. 30, 2015CAD	Jun. 15, 2015USD ($)	Dec. 31, 2014USD ($)	Jul. 31, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2013	Nov. 30, 2013USD ($)	Nov. 25, 2013USD ($)	Mar. 31, 2013	Oct. 31, 2012	Mar. 31, 2012	Feb. 28, 2011	Dec. 31, 2010	Sep. 30, 2010
Debt Instrument [Line Items]
Outstanding principal	$ 3,900,000,000				$ 3,900,000,000
Debt	15,907,000,000				15,993,000,000
Corporate Debt
Debt Instrument [Line Items]
Unamortized Net (Discount) Premium	2,000,000				3,000,000
Debt	$ 6,057,000,000				6,431,000,000
Senior Term Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.26%
Outstanding principal	$ 2,062,000,000				$ 2,083,000,000
Senior ABL Facility
Debt Instrument [Line Items]
Fixed charge coverage ratio number of quarters	1 year
Fixed charge coverage ratio	1				1
Outstanding principal	$ 0				$ 344,000,000
Promissory Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	7.00%
Outstanding principal	$ 27,000,000				27,000,000
Other Corporate Debt
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.93%
Outstanding principal	$ 66,000,000				74,000,000
Fleet Debt
Debt Instrument [Line Items]
Unamortized Net (Discount) Premium	(7,000,000)				(7,000,000)
Debt	9,850,000,000				9,562,000,000
U.S. Fleet Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal	1,420,000,000				2,258,000,000
U.S. Fleet Medium Term Notes Series 2009-2 Notes
Debt Instrument [Line Items]
Outstanding principal	$ 0				404,000,000
U.S. Fleet Medium Term Notes Series 2010-1 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.46%
Outstanding principal	$ 240,000,000				490,000,000
U.S. Fleet Medium Term Notes Series 2011-1 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.51%
Outstanding principal	$ 230,000,000				414,000,000
U.S. Fleet Medium Term Notes Series 2013-1 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.68%
Outstanding principal	$ 950,000,000				950,000,000
RCFC U.S. ABS Program
Debt Instrument [Line Items]
Outstanding principal	0				433,000,000
RCFC Series 2011-1 Notes
Debt Instrument [Line Items]
Outstanding principal	0				167,000,000
RCFC Series 2011-2 Notes
Debt Instrument [Line Items]
Outstanding principal	0				266,000,000
HVF II U.S. ABS Program
Debt Instrument [Line Items]
Outstanding principal	$ 4,025,000,000	$ 636,000,000			3,844,000,000				$ 3,175,000,000
HVF II Series 2013-A Notes, Class A
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.27%
Outstanding principal	$ 980,000,000				1,999,000,000				2,575,000,000
HVF II Series 2013-B Notes, Class A
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.32%
Outstanding principal	$ 1,308,000,000				976,000,000					$ 600,000,000
HVF II Series 2014-A Notes, Class A
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.78%
Outstanding principal	$ 1,737,000,000				869,000,000	$ 1,000,000,000
HVF II Us Fleet Variable Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal	$ 1,380,000,000				0
Us Fleet Medium Term Notes 2015 Series 1
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.93%
Outstanding principal	$ 780,000,000				0
Us Fleet Medium Term Notes 2015 Series 2
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.30%
Outstanding principal	$ 250,000,000				0
Us Fleet Medium Term Notes 2015 Series 3
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.96%
Outstanding principal	$ 350,000,000				0
Donlen ABS Program
Debt Instrument [Line Items]
Outstanding principal	$ 370,000,000				247,000,000
HFLF Series 2013-2 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.19%
Outstanding principal	$ 370,000,000				247,000,000
HFLF Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal	$ 853,000,000				900,000,000		$ 400,000,000		$ 500,000,000
HFLF Series 2013-A Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	0.98%
Outstanding principal	$ 270,000,000				500,000,000
HFLF Series 2014-1 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	0.85%
Outstanding principal	$ 288,000,000				400,000,000
HFLF Series 2015-1 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	0.96%
Outstanding principal	$ 295,000,000			$ 300,000,000	0
Other Fleet Debt
Debt Instrument [Line Items]
Outstanding principal	$ 1,802,000,000				1,880,000,000
U.S. Fleet Financing Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.95%
Outstanding principal	$ 190,000,000				164,000,000
European Revolving Credit Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.55%
Outstanding principal	$ 273,000,000				304,000,000
European Fleet Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.38%
Outstanding principal	$ 464,000,000				517,000,000
Interest rate (as a percent)								8.50%
European Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.54%
Outstanding principal	$ 267,000,000				270,000,000
Canadian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.78%
Outstanding principal	$ 148,000,000		CAD 350		0
Hertz-Sponsored Canadian Securitization
Debt Instrument [Line Items]
Outstanding principal	0				105,000,000
Dollar Thrifty Sponsored Canadian Securitization
Debt Instrument [Line Items]
Outstanding principal	$ 0				40,000,000
Australian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.80%
Outstanding principal	$ 98,000,000				112,000,000
Brazilian Fleet Financing
Debt Instrument [Line Items]
Average interest rate (as a percent)	17.94%
Outstanding principal	$ 7,000,000				11,000,000
Capitalized Leases
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.67%
Outstanding principal	$ 362,000,000				364,000,000
Senior Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.58%
Outstanding principal	$ 3,900,000,000				3,900,000,000
4.25% Senior Notes due April 2018
Debt Instrument [Line Items]
Outstanding principal	$ 250,000,000				250,000,000
Interest rate (as a percent)	4.25%										4.25%
7.50% Senior Notes due October 2018
Debt Instrument [Line Items]
Outstanding principal	$ 700,000,000				700,000,000
Interest rate (as a percent)	7.50%															7.50%
6.75% Senior Notes due April 2019
Debt Instrument [Line Items]
Outstanding principal	$ 1,250,000,000				1,250,000,000
Interest rate (as a percent)	6.75%												6.75%	6.75%
5.875% Senior Notes due October 2020
Debt Instrument [Line Items]
Outstanding principal	$ 700,000,000				700,000,000
Interest rate (as a percent)	5.875%
7.375% Senior Notes due January 2021
Debt Instrument [Line Items]
Outstanding principal	$ 500,000,000				500,000,000
Interest rate (as a percent)	7.375%														7.375%
6.25% Senior Notes due October 2022
Debt Instrument [Line Items]
Outstanding principal	$ 500,000,000				$ 500,000,000
Interest rate (as a percent)	6.25%											6.25%

Debt (Debt Maturities) (Details

Debt (Debt Maturities) (Details) $ in Millions	Dec. 31, 2015USD ($)
Maturities of Long-term Debt [Abstract]
2,016	$ 3,134
2,017	3,733
2,018	4,337
2,019	1,828
2,020	1,833
After 2,020	1,047
Corporate Debt
Maturities of Long-term Debt [Abstract]
2,016	33
2,017	34
2,018	2,981
2,019	1,257
2,020	703
After 2,020	1,047
Fleet Debt
Maturities of Long-term Debt [Abstract]
2,016	3,101
2,017	3,699
2,018	1,356
2,019	571
2,020	1,130
After 2,020	$ 0

Debt (Narrative) (Details)

Debt (Narrative) (Details) shares in Millions	1 Months Ended																		3 Months Ended	7 Months Ended	12 Months Ended
	Sep. 30, 2015USD ($)	Dec. 31, 2014USD ($)	Oct. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jul. 31, 2014GBP (£)	Jul. 31, 2014USD ($)	Jul. 31, 2014EUR (€)	Sep. 30, 2013USD ($)	Jul. 31, 2013USD ($)	May. 31, 2013GBP (£)	Apr. 30, 2013USD ($)	Mar. 31, 2013USD ($)shares	Jan. 31, 2013USD ($)	Oct. 31, 2012USD ($)	Mar. 31, 2012USD ($)	Feb. 28, 2011USD ($)	Dec. 31, 2010USD ($)	Sep. 30, 2010USD ($)	Sep. 30, 2015USD ($)	Jul. 15, 2015	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Mar. 31, 2017USD ($)	Apr. 01, 2016USD ($)	Mar. 31, 2016USD ($)	Oct. 31, 2015USD ($)	Sep. 30, 2015CAD	Jun. 15, 2015USD ($)	May. 30, 2015GBP (£)	May. 30, 2015EUR (€)	Apr. 30, 2015USD ($)	Dec. 15, 2014	Oct. 31, 2014GBP (£)	Oct. 31, 2014USD ($)	Oct. 31, 2014EUR (€)	Sep. 30, 2014GBP (£)	Sep. 30, 2014USD ($)	Jul. 31, 2014EUR (€)	Mar. 31, 2014USD ($)	Dec. 31, 2013	Nov. 30, 2013USD ($)	Nov. 30, 2013EUR (€)	Nov. 25, 2013USD ($)	Mar. 31, 2012CAD	Oct. 31, 2011USD ($)	Jul. 31, 2011USD ($)	Jun. 30, 2011USD ($)	Mar. 31, 2011USD ($)	Nov. 30, 2010USD ($)	Jul. 31, 2010USD ($)	Jun. 30, 2010USD ($)	Jun. 30, 2010EUR (€)	Oct. 31, 2009USD ($)	May. 31, 2007CAD	Sep. 30, 2006USD ($)
Debt Instrument [Line Items]
Restricted covenant threshold, percent of net income																					50.00%
Treasury stock acquired												$ 467,000,000
Treasury stock acquired (in shares) | shares												23
Outstanding principal		$ 3,900,000,000																			$ 3,900,000,000	$ 3,900,000,000
Restricted net assets of subsidiaries as percentage of total consolidated net assets, greater than																					25.00%
Availability under borrowing base limitation																					$ 1,670,000,000
VIE, total assets		427,000,000																			418,000,000	427,000,000
VIE, total liabilities		426,000,000																			418,000,000	426,000,000
Restricted cash and cash equivalents		571,000,000																			349,000,000	571,000,000
Accrued liabilities
Debt Instrument [Line Items]
Interest expense, net																					82,000,000	95,000,000
Letters of credit
Debt Instrument [Line Items]
Outstanding standby letters of credit																					517,000,000
Eliminations
Debt Instrument [Line Items]
Restricted cash and cash equivalents		0																			0	0
Corporate Debt
Debt Instrument [Line Items]
Availability under borrowing base limitation																					1,668,000,000
Senior credit facility
Debt Instrument [Line Items]
Outstanding standby letters of credit																					$ 503,000,000
Senior Term Facility
Debt Instrument [Line Items]
Aggregate maximum borrowings																																																$ 1,400,000,000
Increase in the credit agreement's borrowing capacity														$ 750,000,000
Restricted covenant threshold, percent of net income																					50.00%
Outstanding principal		2,083,000,000																			$ 2,062,000,000	2,083,000,000
Average interest rate (as a percent)																					3.26%
Senior Term Facility | Maximum
Debt Instrument [Line Items]
Restricted covenant threshold, maximum cash dividend to parent as percent																					1.00%
Senior Term Facility | Letters of credit
Debt Instrument [Line Items]
Aggregate maximum borrowings																																																200,000,000
Senior ABL Facility
Debt Instrument [Line Items]
Aggregate maximum borrowings																																																1,800,000,000
Increase in maximum borrowing capacity									$ 65,000,000
Borrowing capacity not extended																																		$ 198,000,000
Restricted covenant threshold, percent of tangible assets																					1.00%
Outstanding principal		$ 344,000,000																			$ 0	$ 344,000,000
Fixed charge coverage ratio		1																			1	1
Fixed charge coverage ratio number of quarters																					1 year
Availability under borrowing base limitation																					$ 1,668,000,000
Senior ABL Facility | Forecast
Debt Instrument [Line Items]
Aggregate maximum borrowings																							$ 1,668,000,000
Increase in aggregate maximum borrowing capacity																									$ 235,000,000
Maximum borrowing capacity after accordion feature																								$ 1,903,000,000	$ 2,100,000,000
Senior ABL Facility | Maximum
Debt Instrument [Line Items]
Restrictive covenant, maximum cash dividends to parent																					200,000,000
Restrictive covenant threshold, liquidity immediately after cash dividend, less than																					400,000,000
Senior ABL Facility | Minimum
Debt Instrument [Line Items]
Minimum liquidity after proposed dividend																					200,000,000
Senior ABL Facility | Letters of credit
Debt Instrument [Line Items]
Aggregate maximum borrowings																																																$ 1,500,000,000
Availability under borrowing base limitation																					1,142,000,000
Senior Notes
Debt Instrument [Line Items]
Outstanding principal		$ 3,900,000,000																			$ 3,900,000,000	$ 3,900,000,000
Average interest rate (as a percent)																					6.58%
7.50% Senior Notes due October 2018
Debt Instrument [Line Items]
Interest rate (as a percent)																		7.50%			7.50%
Additional aggregate principal issued																		$ 700,000,000
Outstanding principal		700,000,000																			$ 700,000,000	700,000,000
6.75% Senior Notes due April 2019
Debt Instrument [Line Items]
Interest rate (as a percent)																6.75%					6.75%																							6.75%
Additional aggregate principal issued															$ 250,000,000	$ 1,000,000,000
Outstanding principal		1,250,000,000																			$ 1,250,000,000	1,250,000,000
5.875% Senior Notes due 2020
Debt Instrument [Line Items]
Interest rate (as a percent)														5.875%
Additional aggregate principal issued														$ 700,000,000
7.375% Senior Notes due January 2021
Debt Instrument [Line Items]
Interest rate (as a percent)																	7.375%				7.375%
Additional aggregate principal issued																	$ 500,000,000
Outstanding principal		500,000,000																			$ 500,000,000	500,000,000
6.25% Senior Notes due October 2022
Debt Instrument [Line Items]
Interest rate (as a percent)														6.25%							6.25%
Additional aggregate principal issued														$ 500,000,000
Outstanding principal		500,000,000																			$ 500,000,000	500,000,000
4.25% Senior Notes due April 2018
Debt Instrument [Line Items]
Interest rate (as a percent)												4.25%									4.25%
Additional aggregate principal issued												$ 250,000,000
Outstanding principal		250,000,000																			$ 250,000,000	250,000,000
Tranche B and Tranche B-1 Term Loans | Senior Term Facility
Debt Instrument [Line Items]
Basis spread on variable rate																				3.00%
Alternative base rate margin																																2.00%
Tranche B and Tranche B-1 Term Loans | Senior Term Facility | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Interest rate (as a percent)																																1.00%
Tranche B Term Loans
Debt Instrument [Line Items]
Face amount											$ 1,372,000,000
Tranche B Term Loans | Senior Term Facility
Debt Instrument [Line Items]
Basis spread on variable rate																			2.75%
Tranche B Term Loans | Senior Term Facility | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Interest rate (as a percent)	1.00%																		1.00%								1.00%
Tranche B-2 Term Loans
Debt Instrument [Line Items]
Basis spread on variable rate											2.25%
Alternative base rate margin											1.25%
Tranche B-2 Term Loans | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Interest rate (as a percent)											0.75%
Tranche B-2 Term Loans | Senior Term Facility
Debt Instrument [Line Items]
Basis spread on variable rate																			2.25%	2.75%
Alternative base rate margin	1.25%																		1.25%								1.25%					1.75%
Tranche B-2 Term Loans | Senior Term Facility | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Interest rate (as a percent)	0.75%																		0.75%								0.75%					0.75%
5.875% Senior Notes due October 2020
Debt Instrument [Line Items]
Interest rate (as a percent)																					5.875%
Outstanding principal		700,000,000																			$ 700,000,000	700,000,000
Fleet Debt
Debt Instrument [Line Items]
Availability under borrowing base limitation																					2,000,000
Restricted cash and cash equivalents		515,000,000																			289,000,000	515,000,000
U.S. Fleet Variable Funding Notes Series 2009-1
Debt Instrument [Line Items]
Aggregate maximum borrowings																					2,739,000,000
Outstanding principal																																									$ 150,000,000
Debt transferred						$ 150,000,000
U.S. Fleet Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal		2,258,000,000																			1,420,000,000	2,258,000,000
U.S. Fleet Medium Term Notes Series 2009-2 Notes
Debt Instrument [Line Items]
Aggregate maximum borrowings																																																			$ 184,000,000		$ 1,200,000,000
Outstanding principal		404,000,000																			0	404,000,000
U.S. Fleet Medium Term Notes Series 2010-1 Notes
Debt Instrument [Line Items]
Aggregate maximum borrowings																																																		$ 750,000,000
Outstanding principal		490,000,000																			$ 240,000,000	490,000,000
Average interest rate (as a percent)																					4.46%
U.S. Fleet Medium Term Notes Series 2011-1 Notes
Debt Instrument [Line Items]
Aggregate maximum borrowings																																															$ 598,000,000
Outstanding principal		414,000,000																			$ 230,000,000	414,000,000
Average interest rate (as a percent)																					3.51%
U.S. Fleet Medium Term Notes Series 2013-1 Notes
Debt Instrument [Line Items]
Aggregate maximum borrowings													$ 950,000,000
Outstanding principal		950,000,000																			$ 950,000,000	950,000,000
Average interest rate (as a percent)																					1.68%
U.S. Fleet Medium Term Notes Series 2013-1 Notes | Maximum
Debt Instrument [Line Items]
Debt term													5 years
U.S. Fleet Medium Term Notes Series 2013-1 Notes | Minimum
Debt Instrument [Line Items]
Debt term													3 years
RCFC U.S. ABS Program
Debt Instrument [Line Items]
Outstanding principal		433,000,000																			$ 0	433,000,000
RCFC Series 2011-2 Notes
Debt Instrument [Line Items]
Aggregate maximum borrowings																																													$ 400,000,000
Outstanding principal		266,000,000																			0	266,000,000
Rental Car Asset-Backed Notes, Class A
Debt Instrument [Line Items]
Outstanding principal																															$ 622,000,000
Average interest rate (as a percent)																															2.73%
Rental Car Asset-Backed Notes, Class B
Debt Instrument [Line Items]
Outstanding principal																															$ 119,000,000
Average interest rate (as a percent)																															3.52%
Rental Car Asset Backed Notes, Class C
Debt Instrument [Line Items]
Outstanding principal																															$ 39,000,000
Average interest rate (as a percent)																															4.35%
RCFC Series 2011-1 Notes
Debt Instrument [Line Items]
Aggregate maximum borrowings																																														$ 500,000,000
Outstanding principal		167,000,000																			0	167,000,000
HVF II Series 2013-A Notes, Class A
Debt Instrument [Line Items]
Aggregate maximum borrowings																					475,000,000
Outstanding principal		1,999,000,000																			$ 980,000,000	1,999,000,000																			2,575,000,000
Average interest rate (as a percent)																					1.27%
Transferable amount of debt		2,300,000,000				2,697,000,000															$ 1,825,000,000	2,300,000,000												2,447,000,000							900,000,000
Debt transferred		147,000,000	$ 250,000,000
Debt allocated						122,000,000
HVF II Series 2013-B Notes, Class A
Debt Instrument [Line Items]
Aggregate maximum borrowings																					1,500,000,000
Outstanding principal		976,000,000																			$ 1,308,000,000	976,000,000																					$ 600,000,000
Average interest rate (as a percent)																					1.32%
Transferable amount of debt		1,025,000,000				628,000,000																1,025,000,000												878,000,000
Debt allocated						28,000,000
HVF II Series 2014-A Notes, Class A
Debt Instrument [Line Items]
Aggregate maximum borrowings																					$ 150,000,000
Outstanding principal		869,000,000				1,000,000,000															$ 1,737,000,000	869,000,000
Average interest rate (as a percent)																					1.78%
Transferable amount of debt						$ 1,000,000,000																												3,250,000,000
Threshold for mandatory commitment termination																																		$ 1,500,000,000
HVF II U.S. ABS Program
Debt Instrument [Line Items]
Outstanding principal		3,844,000,000																			$ 4,025,000,000	3,844,000,000				$ 636,000,000															3,175,000,000
HVF II Series 2015-2 Notes, Class A
Debt Instrument [Line Items]
Outstanding principal																										$ 190,000,000
Average interest rate (as a percent)																										2.02%
HVF II Series 2015-2 Notes, Class B
Debt Instrument [Line Items]
Outstanding principal																										$ 46,000,000
Average interest rate (as a percent)																										2.96%
HVF II Series 2015-2 Notes, Class C
Debt Instrument [Line Items]
Outstanding principal																										$ 14,000,000
Average interest rate (as a percent)																										3.95%
HVF II Series 2015-2 Notes, Class D
Debt Instrument [Line Items]
Outstanding principal																										$ 15,000,000
Average interest rate (as a percent)																										4.93%
HVF II Series 2015-3 Notes, Class A
Debt Instrument [Line Items]
Outstanding principal																										$ 265,000,000
Average interest rate (as a percent)																										2.67%
HVF II Series 2015-3 Notes, Class B
Debt Instrument [Line Items]
Outstanding principal																										$ 65,000,000
Average interest rate (as a percent)																										3.71%
HVF II Series 2015-3 Notes, Class C
Debt Instrument [Line Items]
Outstanding principal																										$ 20,000,000
Average interest rate (as a percent)																										4.44%
HVF II Series 2015-3 Notes, Class D
Debt Instrument [Line Items]
Outstanding principal																										$ 21,000,000
Average interest rate (as a percent)																										5.33%
HVF II Series 2015-3 Notes, Class D | Eliminations | Affiliated Entity
Debt Instrument [Line Items]
Outstanding principal																										$ 36,000,000
HVF II Series 2015-1 Notes
Debt Instrument [Line Items]
Outstanding principal																															$ 780,000,000
HFLF Variable Funding Notes
Debt Instrument [Line Items]
Outstanding principal								$ 1,100,000,000
Availability under borrowing base limitation																					0
HFLF Seriers 2013-1 Notes
Debt Instrument [Line Items]
Debt term								1 year
HFLF Series 2013-2 Notes
Debt Instrument [Line Items]
Aggregate maximum borrowings	$ 500,000,000																		$ 500,000,000
Increase in the credit agreement's borrowing capacity	$ 100,000,000
Increase in maximum borrowing capacity				$ 200,000,000
Outstanding principal		247,000,000																			$ 370,000,000	247,000,000
Average interest rate (as a percent)																					1.19%
Debt term								2 years
Expired debt commitments				$ 200,000,000
HFLF Series 2013-2 Notes | Maximum
Debt Instrument [Line Items]
Outstanding principal																																					$ 400,000,000
HFLF Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal		900,000,000																			$ 853,000,000	900,000,000																	$ 400,000,000		$ 500,000,000
HFLF Series 2015-1 Notes
Debt Instrument [Line Items]
Outstanding principal		0																			$ 295,000,000	0						$ 300,000,000
Average interest rate (as a percent)																					0.96%
HFLF Series 2015-1 Notes | Eliminations
Debt Instrument [Line Items]
Outstanding principal																					$ 5,000,000
Other Fleet Debt
Debt Instrument [Line Items]
Outstanding principal		1,880,000,000																			1,802,000,000	1,880,000,000
U.S. Fleet Financing Facility
Debt Instrument [Line Items]
Aggregate maximum borrowings																																																							$ 165,000,000
Outstanding principal		164,000,000																			$ 190,000,000	164,000,000
Average interest rate (as a percent)																					2.95%
Availability under borrowing base limitation																					$ 0
European Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate maximum borrowings | €																														€ 340,000,000					€ 250,000,000			€ 220,000,000														€ 220,000,000
Increase in maximum borrowing capacity | €							€ 120,000,000
Outstanding principal		304,000,000																			$ 273,000,000	304,000,000
Average interest rate (as a percent)																					2.55%
Former European Fleet Notes
Debt Instrument [Line Items]
Aggregate maximum borrowings | €																																																				€ 400,000,000
Interest rate (as a percent)																																									4.375%	4.375%									8.50%	8.50%
European Fleet Notes
Debt Instrument [Line Items]
Aggregate maximum borrowings | €																																										€ 425,000,000
Interest rate (as a percent)																																								8.50%
Outstanding principal		517,000,000																			$ 464,000,000	517,000,000
Average interest rate (as a percent)																					4.38%
European Securitization
Debt Instrument [Line Items]
Aggregate maximum borrowings | €																																																				€ 400,000,000
Outstanding principal		270,000,000																			$ 267,000,000	270,000,000
Average interest rate (as a percent)																					1.54%
Availability under borrowing base limitation																					$ 0
Canadian Securitization
Debt Instrument [Line Items]
Aggregate maximum borrowings | CAD																																																						CAD 225,000,000
Outstanding principal		0																			$ 148,000,000	0					CAD 350,000,000
Average interest rate (as a percent)																					1.78%
Availability under borrowing base limitation																					$ 0
Dollar Thrifty Sponsored Canadian Securitization
Debt Instrument [Line Items]
Aggregate maximum borrowings | CAD																																												CAD 150,000,000
Outstanding principal		40,000,000																			0	40,000,000
Australian Securitization
Debt Instrument [Line Items]
Aggregate maximum borrowings																																																	$ 250,000,000
Outstanding principal		$ 112,000,000																			$ 98,000,000	$ 112,000,000
Average interest rate (as a percent)																					3.80%
Availability under borrowing base limitation																					$ 0
UK Leveraged Financing
Debt Instrument [Line Items]
Aggregate maximum borrowings | £																																	£ 225,000,000			£ 195,000,000
Increase in maximum borrowing capacity | £					£ 55,000,000					£ 25,000,000
UK Leveraged Financing | UK Leveraged Financing Peak Season Borrowing Facility
Debt Instrument [Line Items]
Aggregate maximum borrowings | £																													£ 300,000,000
UK Leveraged Financing | UK Leveraged Financing Ongoing Core Facility
Debt Instrument [Line Items]
Aggregate maximum borrowings | £																													£ 250,000,000

Debt (Borrowing Capacity) (Deta

Debt (Borrowing Capacity) (Details) $ in Millions	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Remaining capacity	$ 4,894
Availability under borrowing base limitation	1,670
Senior ABL Facility
Debt Instrument [Line Items]
Remaining capacity	1,797
Availability under borrowing base limitation	1,668
Corporate Debt
Debt Instrument [Line Items]
Remaining capacity	1,797
Availability under borrowing base limitation	1,668
HVF II U.S. Fleet Variable Funding Notes
Debt Instrument [Line Items]
Remaining capacity	2,550
Availability under borrowing base limitation	0
HFLF Variable Funding Notes
Debt Instrument [Line Items]
Remaining capacity	130
Availability under borrowing base limitation	0
U.S. Fleet Financing Facility
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
European Securitization
Debt Instrument [Line Items]
Remaining capacity	170
Availability under borrowing base limitation	0
Canadian Securitization
Debt Instrument [Line Items]
Remaining capacity	105
Availability under borrowing base limitation	0
Australian Securitization
Debt Instrument [Line Items]
Remaining capacity	84
Availability under borrowing base limitation	0
Capitalized Leases
Debt Instrument [Line Items]
Remaining capacity	58
Availability under borrowing base limitation	2
Fleet Debt
Debt Instrument [Line Items]
Remaining capacity	3,097
Availability under borrowing base limitation	$ 2

Employee Retirement Benefits (N

Employee Retirement Benefits (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Oct. 22, 2014plan
Defined Benefit Plan Disclosure [Line Items]
Employer matching contribution, percent of match, first three percent	100.00%
Employer matching contribution, percent of match, remaining two percent	50.00%
Number of non-qualified, unfunded pension plans | plan				2
Maximum annual contribution credit per employee, percent		3.00%
Accumulated other comprehensive income (loss)	$ (245)	$ (115)	$ 6
Defined contribution plan, costs recognized	$ 30	$ 18	$ 18
Non collectively bargained members
Defined Benefit Plan Disclosure [Line Items]
Maximum annual contribution credit per employee, percent		5.00%
Collectively bargained members
Defined Benefit Plan Disclosure [Line Items]
Maximum annual contribution credit per employee, percent			6.50%
Key officer postretirement car benefit plan
Defined Benefit Plan Disclosure [Line Items]
Benefit period availability, post retirement	15 years
Eligible age	80 years
Key officer postretirement car benefit plan | Minimum
Defined Benefit Plan Disclosure [Line Items]
Service period	20 years
Retirement age	58 years
Postretirement Benefits (U.S.)
Defined Benefit Plan Disclosure [Line Items]
Total fair value of pension plan assets	$ 0	$ 0	$ 0
Company contributions	1	1
Pension Benefits - Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Total fair value of pension plan assets	200	212	207
Company contributions	5	5
Estimated employer contributions in next fiscal year	$ 3	0
Pension Benefits - Non-U.S. | U.K.
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets, percent	6.10%
Total fair value of pension plan assets	$ 195
United States Qualified Pension Plan of US Entity [Member]
Defined Benefit Plan Disclosure [Line Items]
Company contributions		22
U.K. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Provisions charged to income	$ 12	10	10
U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Expected return on plan assets, percent	7.20%
Total fair value of pension plan assets	$ 575	619	563
Company contributions	22	35
United States Non-Qualified Pension Plan of US Entity
Defined Benefit Plan Disclosure [Line Items]
Company contributions	$ 22	13
Marketable securities | U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	65.00%
Fixed Income Funds | U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	35.00%
Actively Managed Multi-Asset Funds | Pension Benefits - Non-U.S. | U.K.
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	37.50%
Passive Equity Funds | Pension Benefits - Non-U.S. | U.K.
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	27.50%
U.K. Equities | Pension Benefits - Non-U.S. | U.K.
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	45.00%
Passive Bond Funds | Pension Benefits - Non-U.S. | U.K.
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	35.00%
Municipal Bonds | Pension Benefits - Non-U.S. | U.K.
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	70.00%
Municipal Bonds | U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Total fair value of pension plan assets	$ 10	10
Corporate Bonds | Pension Benefits - Non-U.S. | U.K.
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations	30.00%
Corporate Bonds | U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Total fair value of pension plan assets	$ 110	123
Level 2 | U.K. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Total fair value of pension plan assets	139	71
Pension and Other Post-Employment Benefits
Defined Benefit Plan Disclosure [Line Items]
Accumulated other comprehensive income (loss)	$ (102)	$ (101)	$ (58)

Employee Retirement Benefits (C

Employee Retirement Benefits (Change in Benefit Obligation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S. Plan
Change in Benefit Obligation [Roll Forward]
Benefit obligation at the beginning of the year	$ 726	$ 671
Service cost	(3)	(28)	$ (27)
Interest cost	(27)	(31)	(28)
Plan curtailments	(1)	(42)
Plan settlements	(21)	(11)
Benefits paid	(29)	(23)
Actuarial loss (gain)	(18)	72
Benefit obligation at the end of the year	687	726	671
Change in Plan Assets [Roll Forward]
Fair value of plan assets at the beginning of the year	619	563
Actual return of plan assets	(16)	55
Company contributions	22	35
Plan settlements	(21)	(11)
Benefits paid	(29)	(23)
Fair value of plan assets at the end of the year	575	619	563
Defined Benefit Plan, Funded Status of Plan [Abstract]
Plan assets less than benefit obligation	(112)	(107)
Pension Benefits - Non-U.S.
Change in Benefit Obligation [Roll Forward]
Benefit obligation at the beginning of the year	274	243
Service cost	(1)	(2)	(3)
Interest cost	(8)	(10)	(9)
Plan settlements	(6)
Benefits paid	(5)	(5)
Foreign exchange translation	(16)	(22)
Actuarial loss (gain)	(22)	46
Other	(1)
Benefit obligation at the end of the year	235	274	243
Change in Plan Assets [Roll Forward]
Fair value of plan assets at the beginning of the year	212	207
Actual return of plan assets	4	19
Company contributions	5	5
Plan settlements	(6)
Benefits paid	(5)	(5)
Foreign exchange translation	(10)	(14)
Fair value of plan assets at the end of the year	200	212	207
Defined Benefit Plan, Funded Status of Plan [Abstract]
Plan assets less than benefit obligation	(35)	(62)
Postretirement Benefits (U.S.)
Change in Benefit Obligation [Roll Forward]
Benefit obligation at the beginning of the year	15	16
Service cost	0	0	0
Interest cost	(1)	(1)	(1)
Employee contributions		1
Benefits paid	(1)	(2)
Benefit obligation at the end of the year	15	15	16
Change in Plan Assets [Roll Forward]
Fair value of plan assets at the beginning of the year	0	0
Company contributions	1	1
Employee contributions		1
Benefits paid	(1)	(2)
Fair value of plan assets at the end of the year	0	0	$ 0
Defined Benefit Plan, Funded Status of Plan [Abstract]
Plan assets less than benefit obligation	$ (15)	$ (15)

Employee Retirement Benefits (A

Employee Retirement Benefits (Amounts Recognized in Balance Sheet) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S. Plan
Amounts recognized in balance sheet:
Funded status of plan	$ (112)	$ (107)
Prior service credit (cost)	1	2
Net gain (loss)	(128)	(97)
Accumulated other comprehensive income (loss)	(127)	(95)
Funded/(Unfunded) accrued pension or postretirement benefit	15	(12)
Net obligation recognized in the balance sheet	(112)	(107)
Total recognized in other comprehensive (income) loss	31	14
Total recognized in net periodic benefit cost and other comprehensive (income) loss	27	33
Estimated amounts that will be amortized from accumulated other comprehensive (income) loss over the next fiscal year:
Net gain (loss)	(8)	(2)
Accumulated Benefit Obligation at December 31	$ 683	$ 720
Weighted-average assumptions as of December 31
Discount rate (as a percent)	4.30%	3.90%
Expected return of assets (as a percent)	7.20%	7.40%
Average rate of increase in compensation (as a percent)	4.30%	4.00%
Components of Net Periodic Benefit Cost:
Service cost	$ 3	$ 28	$ 27
Interest cost	27	31	28
Expected return on plan assets	(40)	(40)	(36)
Net amortizations	2	2	7
Settlement loss	4	4	0
Curtailment gain	0	(10)	0
Special termination benefit cost	0	4	0
Net pension and postretirement expense	$ (4)	$ 19	$ 26
Weighted average discount rate for expense (January 1)	3.90%	4.80%	4.00%
Weighted average assumed long-term rate of return on assets (January 1)	7.40%	7.60%	7.60%
U.S. Plan | Prepaid expenses and other current assets
Amounts recognized in balance sheet:
Funded status of plan	$ 0	$ 0
U.S. Plan | Accrued liabilities
Amounts recognized in balance sheet:
Funded status of plan	(112)	(107)
Pension Benefits - Non-U.S.
Amounts recognized in balance sheet:
Funded status of plan	(35)	(62)
Prior service credit (cost)	0	0
Net gain (loss)	(33)	(50)
Accumulated other comprehensive income (loss)	(33)	(50)
Funded/(Unfunded) accrued pension or postretirement benefit	(2)	(12)
Net obligation recognized in the balance sheet	(35)	(62)
Total recognized in other comprehensive (income) loss	(17)	38
Total recognized in net periodic benefit cost and other comprehensive (income) loss	(20)	35
Estimated amounts that will be amortized from accumulated other comprehensive (income) loss over the next fiscal year:
Net gain (loss)	0	(2)
Accumulated Benefit Obligation at December 31	$ 234	$ 272
Weighted-average assumptions as of December 31
Discount rate (as a percent)	3.60%	4.40%
Expected return of assets (as a percent)	6.10%	7.40%
Average rate of increase in compensation (as a percent)	2.60%	2.60%
Components of Net Periodic Benefit Cost:
Service cost	$ 1	$ 2	$ 3
Interest cost	8	10	9
Expected return on plan assets	(15)	(15)	(13)
Net amortizations	2	0	0
Settlement loss	1	0	0
Curtailment gain	0	0	0
Special termination benefit cost	0	0	0
Net pension and postretirement expense	$ (3)	$ (3)	$ (1)
Weighted average discount rate for expense (January 1)	3.30%	3.20%	4.30%
Weighted average assumed long-term rate of return on assets (January 1)	7.30%	7.40%	7.40%
Pension Benefits - Non-U.S. | Prepaid expenses and other current assets
Amounts recognized in balance sheet:
Funded status of plan	$ 29	$ 0
Pension Benefits - Non-U.S. | Accrued liabilities
Amounts recognized in balance sheet:
Funded status of plan	(64)	(62)
Postretirement Benefits (U.S.)
Amounts recognized in balance sheet:
Funded status of plan	(15)	(15)
Prior service credit (cost)	0	0
Net gain (loss)	1	1
Accumulated other comprehensive income (loss)	1	1
Funded/(Unfunded) accrued pension or postretirement benefit	(16)	(16)
Net obligation recognized in the balance sheet	(15)	(15)
Total recognized in other comprehensive (income) loss	0	0
Total recognized in net periodic benefit cost and other comprehensive (income) loss	1	1
Estimated amounts that will be amortized from accumulated other comprehensive (income) loss over the next fiscal year:
Net gain (loss)	$ 0	$ 0
Weighted-average assumptions as of December 31
Discount rate (as a percent)	4.20%	3.60%
Expected return of assets (as a percent)	0.00%	0.00%
Average rate of increase in compensation (as a percent)	0.00%	0.00%
Initial health care cost trend rate (as a percent)	6.90%	7.30%
Ultimate health care cost trend rate (as a percent)	4.50%	4.50%
Number of years to ultimate trend rate (in years)	23 years	15 years
Components of Net Periodic Benefit Cost:
Service cost	$ 0	$ 0	$ 0
Interest cost	1	1	1
Expected return on plan assets	0	0	0
Net amortizations	0	0	0
Settlement loss	0	0	0
Curtailment gain	0	0	0
Special termination benefit cost	0	0	0
Net pension and postretirement expense	$ 1	$ 1	$ 1
Weighted average discount rate for expense (January 1)	3.80%	4.40%	3.60%
Initial health care cost trend rate (as a percent)	7.30%	7.50%	7.80%
Ultimate health care cost trend rate (as a percent)	4.50%	4.50%	4.50%
Number of years to ultimate health trend rate (in years)	14 years	15 years	16 years
Postretirement Benefits (U.S.) | Prepaid expenses and other current assets
Amounts recognized in balance sheet:
Funded status of plan	$ 0	$ 0
Postretirement Benefits (U.S.) | Accrued liabilities
Amounts recognized in balance sheet:
Funded status of plan	$ (15)	$ (15)

Employee Retirement Benefits (F

Employee Retirement Benefits (Fair Value of Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	$ 575	$ 619	$ 563
U.S. Plan | Short-term Investments
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	7	13
U.S. Plan | US Large Cap Equity Securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	158	171
U.S. Plan | US Mid Cap Equity Securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	36	50
U.S. Plan | US Small Cap Equity Securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	45	38
U.S. Plan | International Larg Cap
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	96	99
U.S. Plan | International Emerging Markets
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	29	29
U.S. Plan | Asset-backed Securities
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	5	4
U.S. Plan | US Treasuries
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	61	63
U.S. Plan | Corporate Bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	110	123
U.S. Plan | Government Bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	9	10
U.S. Plan | Municipal Bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	10	10
U.S. Plan | Real Estate Bonds
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	9	9
U.K. Pension Plan | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	56	130
U.K. Pension Plan | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	139	71
U.K. Pension Plan | Diversified Growth Funds | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	75	74
U.K. Pension Plan | U.K. Equities | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	25	25
U.K. Pension Plan | Overseas Equities | Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	31	31
U.K. Pension Plan | Foreign Overseas Corporate Bond Securities | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	20	21
U.K. Pension Plan | Index-Linked Gilts-Stocks | Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	$ 44	$ 50

Employee Retirement Benefits (E

Employee Retirement Benefits (Estimated Future Benefit Payments & Other Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Pension Benefits
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
2,016	$ 48
2,017	48
2,018	51
2,019	54
2,020	56
After 2,020	302
Total	559
Other Plans [Abstract]
Aggregate period contributions	12	$ 10	$ 8
Pension Benefits | Western Conference of Teamsters
Other Plans [Abstract]
Aggregate period contributions	6	6	4
Pension Benefits | Other Plans
Other Plans [Abstract]
Aggregate period contributions	6	$ 4	$ 4
Pension Benefits | Local 1034 | Minimum
Other Plans [Abstract]
Multiemployer plan, period contributions, percentage of total contributions to pension fund		5.00%
Postretirement Benefits (U.S.)
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
2,016	1
2,017	1
2,018	1
2,019	1
2,020	2
After 2,020	6
Total	$ 12

Stock-Based Compensation (Narra

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Feb. 28, 2008
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options, RSUs and PSUs granted	$ 48
Period for recognition of total unrecognized compensation cost	1 year 10 months 26 days
Number of common stock shares for each unit granted	1
Compensation expense	$ 17	$ 11	$ 35
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	5 years	3 years
Expected dividend yield	0.00%	0.00%
Stock Option | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	10 years
Stock Appreciation Rights (SARs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award exercise price not less than fair market value of shares of common stock	1
Restricted Stock Units RSU and Performance Stock Units PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in dollars per share)	$ 20.38	$ 28.18	$ 23.95
Restricted Stock Units RSU and Performance Stock Units PSU | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized, reserved for issuance				32,700,000
Omnibus Plan | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	984,129
Granted (in dollars per share)	$ 20.38
Weighted average outstanding (in dollars per share)	$ 20.46	19.38
Omnibus Plan | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	1,413,367
Granted (in dollars per share)	$ 21.10
Weighted average outstanding (in dollars per share)	$ 20.14	$ 19.90
Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available under prior plans	13,987,130
Shares reserved for future issuance	53,521,350
Common Stock | Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available under prior plans	9,429,723
Shares reserved for future issuance	12,633,685
Common Stock | Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available under prior plans	4,557,407
Treasury Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares reserved for future issuance	40,887,665

Stock-Based Compensation (Summa

Stock-Based Compensation (Summary of the total compensation expense and associated recognized income tax benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Compensation Expense and Tax Benefit
Compensation expense	$ 17	$ 11	$ 35
Income tax benefit	(7)	(4)	(14)
Total	$ 10	$ 7	$ 21

Stock-Based Compensation (Sched

Stock-Based Compensation (Schedule of valuation assumptions) (Details) - Stock Option - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	41.40%	39.30%
Expected dividend yield	0.00%	0.00%
Expected term (years)	5 years	3 years
Risk-free interest rate	1.17%	0.96%
Weighted-average grant date fair value (in dollars per share)	$ 7.34	$ 7.14

Stock-Based Compensation (Sum72

Stock-Based Compensation (Summary of option activity under stock incentive plan and omnibus plan) (Details) - Stock Option - Stock Incentive Plan and Omnibus Plan - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Shares
Outstanding at January 1, 2015 (in shares)	8,895,521
Granted (in shares)	3,301,499
Exercised (in shares)	(595,318)
Forfeited or Expired (in shares)	(581,358)
Outstanding at December 31, 2015 (in shares)	11,020,344	8,895,521
Exercisable at December 31, 2015 (in shares)	8,185,899
Weighted Average Exercise Price [Roll Forward]
Outstanding at January 1, 2015 (in dollars per share)	$ 12.62
Granted (in dollars per share)	22.20
Exercised (in dollars per share)	7.88
Forfeited or Expired (in dollars per share)	21.70
Outstanding at December 31, 2015 (in dollars per share)	14.88	$ 12.62
Exercisable at December 31, 2015 (in dollars per share)	$ 12.42
Additional Disclosures [Abstract]
Weighted average remaining contractual term	3 years	3 years 7 months 6 days
Weighted average remaining contractual term, Exercisable at December 31, 2015	2 years 7 months 6 days
Aggregate intrinsic value, Outstanding	$ 26	$ 106
Aggregate intrinsic value, Exercisable at December 31, 2015	$ 26

Stock-Based Compensation (Sum73

Stock-Based Compensation (Summary of non-vested options and changes during the year) (Details) - Stock Option - $ / shares	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Weighted- Average Grant- Date Fair Value
Granted (in dollars per share)	$ 7.34	$ 7.14
Stock Incentive Plan and Omnibus Plan
Non-vested Shares
Non-vested Beginning Balnce (in shares)	689,242
Granted (in shares)	3,301,499
Vested (in shares)	(697,747)
Forfeited (in shares)	(458,549)
Non-vested Ending Balance (in shares)	2,834,445	689,242
Weighted- Average Exercise Price
Non-vested Beginning Balance (in dollars per share)	$ 20.51
Granted (in dollars per share)	22.20
Vested (in dollars per share)	20.44
Forfeited (in dollars per share)	23.26
Non-vested Ending Balance (in dollars per share)	21.99	$ 20.51
Weighted- Average Grant- Date Fair Value
Non-vested Beginning Balance (in dollars per share)	6.81
Granted (in dollars per share)	7.48
Vested (in dollars per share)	6.80
Forfeited (in dollars per share)	7.75
Non-vested Ending Balance (in dollars per share)	$ 7.13	$ 6.81

Stock-Based Compensation (Sch74

Stock-Based Compensation (Schedule of additional information pertaining to option activity under the plans) (Details) - Stock Option - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of stock options exercised	$ 4	$ 24	$ 42
Cash received from the exercise of stock options	5	18	27
Fair value of options that vested	5	5	6
Tax benefit realized on exercise of stock options	$ 0	$ 1	$ 1

Stock-Based Compensation (Sum75

Stock-Based Compensation (Summary of PSU and RSU activity under the omnibus plan) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restricted Stock Units RSU and Performance Stock Units PSU
Weighted-Average Fair Value
Granted (in dollars per share)	$ 20.38	$ 28.18	$ 23.95
Additional Information Pertaining to RSU Activity
RSU Activity	$ 5	$ 9	$ 13
Omnibus Plan | Performance Stock Units
Shares
Beginning Balance (in shares)	2,056,509
Granted (in shares)	1,413,367
Vested (in shares)	(614,902)
Forfeited or Expired (in shares)	(1,223,671)
Ending Balance (in shares)	1,631,303	2,056,509
Weighted-Average Fair Value
Beginning Balance (in dollars per share)	$ 19.90
Granted (in dollars per share)	21.10
Vested (in dollars per share)	15.22
Forfeited or Expired (In dollars per share)	23.54
Ending Balance (in dollars per share)	$ 20.14	$ 19.90
Aggregate intrinsic value, Outstanding	$ 23	$ 49
Omnibus Plan | Restricted Stock Units
Shares
Beginning Balance (in shares)	324,304
Granted (in shares)	984,129
Vested (in shares)	(251,715)
Forfeited or Expired (in shares)	(80,912)
Ending Balance (in shares)	975,806	324,304
Weighted-Average Fair Value
Beginning Balance (in dollars per share)	$ 19.38
Granted (in dollars per share)	20.38
Vested (in dollars per share)	18.06
Forfeited or Expired (In dollars per share)	22.69
Ending Balance (in dollars per share)	$ 20.46	$ 19.38
Aggregate intrinsic value, Outstanding	$ 14	$ 8

Tangible Asset Impairments an76

Tangible Asset Impairments and Asset Write-downs (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Impairment of long-lived assets to be disposed of			$ 10
Other non-cash changes		$ (7)	(30)
Impairment of long lived assets held for use			14
Impairment of leasehold				$ 40
Impairment of Former Corporate Headquarters
Property, Plant and Equipment [Line Items]
Other non-cash changes			(13)
Discontinued Operations, Held-for-sale | Other Nonoperating Income (Expense)
Property, Plant and Equipment [Line Items]
Asset impairment charges	$ 3	5
Building and Building Improvements | Discontinued Operations, Held-for-sale | Selling, General and Administrative Expenses
Property, Plant and Equipment [Line Items]
Asset impairment charges		6
Customer Contracts | Equipment | Disposal Group, Held-for-sale, Not Discontinued Operations
Property, Plant and Equipment [Line Items]
Asset impairment charges		16
Customer Contracts | Equipment | Disposal Group, Held-for-sale, Not Discontinued Operations | Other Nonoperating Income (Expense)
Property, Plant and Equipment [Line Items]
Asset impairment charges		7
Customer Contracts | Equipment | Disposal Group, Held-for-sale, Not Discontinued Operations | Direct Operating Expense
Property, Plant and Equipment [Line Items]
Asset impairment charges		$ 9
Business Relationship
Property, Plant and Equipment [Line Items]
Asset impairment charges			$ 10

Lease and Concession Agreemen77

Lease and Concession Agreements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Lease and Concession Agreements
Rents	$ 72	$ 80	$ 81
Revenue earning equipment, office and computer equipment
Lease and Concession Agreements
Rents	90	99	98
Minimum obligations under existing agreements
2,016	14
2,017	10
2,018	5
2,019	4
2,020	4
After 2,020	4
Total	41
Revenue earning equipment
Lease and Concession Agreements
Rents	72	80	81
Office and computer equipment
Lease and Concession Agreements
Rents	18	19	17
Concession agreements and real estate leases
Concession fees:
Total	900	902	885
Total	895	898	880
Rents
Lease and Concession Agreements
Rents	189	185	185
Concession fees:
Sublease income	(5)	(4)	(5)
Minimum obligations under existing agreements
2,016	219
2,017	184
2,018	149
2,019	106
2,020	69
After 2,020	256
Total	983
Concessions
Concession fees:
Minimum fixed obligations	367	416	405
Additional amounts, based on revenues	344	$ 301	$ 295
Minimum obligations under existing agreements
2,016	291
2,017	252
2,018	199
2,019	147
2,020	106
After 2,020	483
Total	$ 1,478

Restructuring (Details)

Restructuring (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Restructuring details
Restructuring charges	$ 33	$ 78	$ 77
Restructuring reserve
Balance at beginning of period	43	48
Charges incurred	33	78
Cash payments	(42)	(53)
Other non-cash changes	(7)	(30)
Balance at end of period	27	43	48
U.S. car rental
Restructuring details
Restructuring charges	23	27	23
International car rental
Restructuring details
Restructuring charges	6	19	19
Worldwide equipment rental
Restructuring details
Restructuring charges	4	5	8
Other reconciling items
Restructuring details
Restructuring charges	0	27	27
Direct operating
Restructuring details
Restructuring charges	20	35	28
Selling, general and administrative
Restructuring details
Restructuring charges	13	43	49
Termination benefits
Restructuring details
Restructuring charges	$ 16	30	42
Expected duration for payment of restructuring obligations (in months)	12 months
Restructuring reserve
Balance at beginning of period	$ 21	20
Charges incurred	16	30
Cash payments	(26)	(28)
Other non-cash changes	(1)	(1)
Balance at end of period	10	21	20
Asset writedowns
Restructuring details
Restructuring charges	2	23	0
Restructuring reserve
Other non-cash changes	(4)
Facility closure and lease obligation costs
Restructuring details
Restructuring charges	19	15	15
Restructuring reserve
Other non-cash changes		10
Relocation costs and temporary labor costs
Restructuring details
Restructuring charges	(4)	9	19
Other
Restructuring details
Restructuring charges	0	1	1
Restructuring reserve
Balance at beginning of period	22	28
Charges incurred	17	48
Cash payments	(16)	(25)
Other non-cash changes	(6)	(29)
Balance at end of period	$ 17	22	$ 28
Impairment of Former Corporate Headquarters
Restructuring reserve
Other non-cash changes		$ (13)

Taxes on Income (Loss) (Schedul

Taxes on Income (Loss) (Schedule of Components of Income Before Income Taxes) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Domestic									$ 31	$ (185)	$ 573
Foreign									313	169	106
Total income (loss)	$ 50	$ 308	$ 71	$ (86)	$ (284)	$ 204	$ 123	$ (59)	$ 344	$ (16)	$ 679

Taxes on Income (Loss) (Sched80

Taxes on Income (Loss) (Schedule of Total Provision for Taxes on Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Current:
Federal	$ 6	$ 1	$ (7)
Foreign	58	45	60
State and local	1	8	21
Total current	65	54	74
Deferred:
Federal	40	(17)	223
Foreign	(42)	9	16
State and local	5	16	16
Total deferred	3	8	255
Total provision	$ 68	$ 62	$ 329

Taxes on Income (Loss) (Sched81

Taxes on Income (Loss) (Schedule of Principal Items of the U.S. and Foreign Net Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Deferred Tax Assets, Net [Abstract]
Employee benefit plans	$ 74	$ 82
Net operating loss carry forwards	1,639	1,871
Federal, state and foreign local tax credit carry forwards	47	26
Accrued and prepaid expenses	281	263
Total Deferred Tax Assets	2,041	2,242
Less: Valuation Allowance	(151)	(231)
Total Net Deferred Tax Assets	1,890	2,011
Deferred Tax Liabilities, Net [Abstract]
Depreciation on tangible assets	(3,349)	(3,489)
Intangible assets	(1,417)	(1,415)
Total Deferred Tax Liabilities	(4,766)	(4,904)
Net Deferred Tax Liability	$ 2,876	$ 2,893

Taxes on Income (Loss) (Narrati

Taxes on Income (Loss) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Operating Loss Carryforwards [Line Items]
Deferred tax assets	$ 1,639	$ 1,871
Valuation allowance recorded against deferred tax assets	151	231
Remaining deferred tax assets to be realized	$ 1,890	$ 2,011
Effective tax rate	20.00%	(388.00%)	48.00%
Income Tax Expense (Benefit)	$ 68	$ 62	$ 329
Increase (Decrease) in Provision for Income Taxes	6	(267)
Undistributed earnings in foreign subsidiaries	717
Tax liability including impact of foreign withholding taxes	277
Total unrecognized tax benefits	81	57	11	$ 19
Reversal of unrecognized tax benefits within next twelve months	1
Net, after-tax interest and penalties recognized	4	1	$ (1)
Net, after-tax interest and penalties accrued	6	$ 3
AMT tax credits and other	47
Unrecognized tax benefits that would impact effective tax rate	6
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Deferred tax assets	1,326
NOL carryforwards	3,791
Federal NOL carry forwards	3,930
Federal NOL carry forwards, related to excess tax deductions	139
Associated tax benefits	49
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Deferred tax assets	178
Valuation allowance recorded against deferred tax assets	22
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Deferred tax assets	135
NOL carryforwards	550
NOL carry forward, valuation allowance	129
NOL carry forward with indefinite carry forward period	484
Deferred tax assets associated with indefinite carry forward period	117
NOL subject to expiration	66
Deferred tax assets associated with NOL subject to expiration	18
SPAIN
Operating Loss Carryforwards [Line Items]
Valuation allowance recorded against deferred tax assets	28
ITALY
Operating Loss Carryforwards [Line Items]
Valuation allowance recorded against deferred tax assets	$ 5

Taxes on Income (Loss) (Sched83

Taxes on Income (Loss) (Schedule of Significant Items in the Reconciliation of the Statutory and Effective Income Tax Rates) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Statutory Federal Tax Rate	35.00%	35.00%	35.00%
Foreign tax rate differential	(8.00%)	102.00%	(3.00%)
State and local income taxes, net of federal income tax benefit	1.00%	(18.00%)	5.00%
Change in state statutory rates, net of federal income tax benefit	2.00%	(77.00%)	0.00%
Federal and foreign permanent differences	3.00%	(76.00%)	5.00%
Withholding taxes	2.00%	(54.00%)	2.00%
Uncertain tax positions	(2.00%)	(66.00%)	(1.00%)
Change in valuation allowance	(14.00%)	(109.00%)	5.00%
Effective Income Tax Rate Reconciliation, Disposition of Business, Percent	(6.00%)	0.00%	0.00%
All other items, net	7.00%	(125.00%)	0.00%
Effective Tax Rate	20.00%	(388.00%)	48.00%

Taxes on Income (Loss) (Reconci

Taxes on Income (Loss) (Reconciliation of the Beginning and Ending Amounts of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1	$ 57	$ 11	$ 19
Increase (Decrease) attributable to tax positions taken during prior periods	16	4	(7)
Increase (Decrease) attributable to tax positions taken during the current year	9	42	3
Decrease attributable to settlements with taxing authorities	(1)	0	(4)
Balance at December 31	$ 81	$ 57	$ 11

Financial Instruments (Details)

Financial Instruments (Details) - Recurring - Derivatives not designated as hedging instruments - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Fair Value of Derivative Instruments
Amount of Gain or (Loss) Recognized in Income on Derivatives	$ (20)	$ (3)	$ (21)
Gasoline swaps
Fair Value of Derivative Instruments
Amount of Gain or (Loss) Recognized in Income on Derivatives	0	0	2
Interest rate caps
Fair Value of Derivative Instruments
Amount of Gain or (Loss) Recognized in Income on Derivatives	0	(2)	(1)
Foreign exchange forward contracts
Fair Value of Derivative Instruments
Amount of Gain or (Loss) Recognized in Income on Derivatives	(20)	(1)	$ (22)
Level 2
Fair Value of Derivative Instruments
Gross assets	12	31
Gross liabilities	10	27
Level 2 | Interest rate caps
Fair Value of Derivative Instruments
Gross assets	9	25
Gross liabilities	9	25
Level 2 | Foreign exchange forward contracts
Fair Value of Derivative Instruments
Gross assets	3	6
Gross liabilities	$ 1	$ 2

Financial Instruments (Offsetti

Financial Instruments (Offsetting Assets) (Details) - Prepaid expenses and other current assets - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Offsetting Assets [Line Items]
Gross assets	$ 12	$ 31
Gross assets offset in Balance Sheet	0	0
Net recognized assets in Balance Sheet	12	31
Financial Instruments	0	(3)
Net Amount	12	28
Interest rate caps
Offsetting Assets [Line Items]
Gross assets	9	25
Gross assets offset in Balance Sheet	0	0
Net recognized assets in Balance Sheet	9	25
Financial Instruments	0	0
Net Amount	9	25
Foreign exchange forward contracts
Offsetting Assets [Line Items]
Gross assets	3	6
Gross assets offset in Balance Sheet	0	0
Net recognized assets in Balance Sheet	3	6
Financial Instruments	0	(3)
Net Amount	$ 3	$ 3

Financial Instruments (Offset87

Financial Instruments (Offsetting Liabilities) (Details) - Accrued liabilities - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Offsetting Liabilities [Line Items]
Gross liabilities	$ 10	$ 27
Gross liabilities offset in Balance Sheet	0	0
Net recognized liabilities in Balance Sheet	10	27
Financial Instruments	0	(3)
Net Amount	10	24
Interest rate caps
Offsetting Liabilities [Line Items]
Gross liabilities	9	25
Gross liabilities offset in Balance Sheet	0	0
Net recognized liabilities in Balance Sheet	9	25
Financial Instruments	0	(1)
Net Amount	9	24
Foreign exchange forward contracts
Offsetting Liabilities [Line Items]
Gross liabilities	1	2
Gross liabilities offset in Balance Sheet	0	0
Net recognized liabilities in Balance Sheet	1	2
Financial Instruments	0	(2)
Net Amount	$ 1	$ 0

Fair Value Measurements (Cash E

Fair Value Measurements (Cash Equivalents and Investments) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Sep. 30, 2014
CAR, Inc
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ownership percentage	10.20%	16.20%	16.00%
Prepaid expenses and other current assets | CAR, Inc
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments in subsidiaries	$ 180,000	$ 264,000
Level 1 | Prepaid expenses and other current assets | CAR, Inc
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value of investment using quoted market prices	406,000	514,000
Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	355	242
Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	195	146
Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	160	96
Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Recurring | Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	244	146
Recurring | Money market funds | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	195	146
Recurring | Money market funds | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	49	0
Recurring | Money market funds | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Recurring | Equity and other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	111	96
Recurring | Equity and other securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Recurring | Equity and other securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	111	96
Recurring | Equity and other securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Fair Value Measurements (Debt O

Fair Value Measurements (Debt Obligations) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	$ 3,900	$ 3,900
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	15,912	15,997
Aggregate Fair Value	15,988	16,063
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held for sale	25
Total Loss Adjustments	5
Fair Value, Measurements, Nonrecurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held for sale	0
Fair Value, Measurements, Nonrecurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held for sale	0
Fair Value, Measurements, Nonrecurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held for sale	25
Other Corporate Debt | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	6,055	6,428
Aggregate Fair Value	6,134	6,468
Fleet Debt | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	9,857	9,569
Aggregate Fair Value	$ 9,854	$ 9,595

Accumulated Other Comprehensi90

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	$ (115)	$ 6
Other comprehensive (loss) before reclassification	(95)	(105)
Foreign currency translation adjustments	(87)	(57)	$ (45)
Amounts reclassified from accumulated other comprehensive income (loss)	(35)	(16)
Balance at the end of the period	(245)	(115)	6
Pension and Other Post-Employment Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	(101)	(58)
Other comprehensive (loss) before reclassification	(8)	(34)
Amounts reclassified from accumulated other comprehensive income (loss)	7	(9)
Balance at the end of the period	(102)	(101)	(58)
Accumulated translation adjustment
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	5	62
Other comprehensive (loss) before reclassification		(57)
Amounts reclassified from accumulated other comprehensive income (loss)		0
Balance at the end of the period	(124)	5	62
Unrealized Losses on Terminated Net Investment Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	(19)	(19)
Other comprehensive (loss) before reclassification	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Balance at the end of the period	(19)	(19)	(19)
Unrealized Gains on Available for Sale Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	0	21
Other comprehensive (loss) before reclassification	0	(14)
Amounts reclassified from accumulated other comprehensive income (loss)	0	(7)
Balance at the end of the period	$ 0	$ 0	$ 21

Contingencies and Off-Balance91

Contingencies and Off-Balance Sheet Commitments (Details) - USD ($) $ in Millions	1 Months Ended
	Oct. 31, 2014	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Loss Contingencies [Line Items]
Public liability and property damage		$ 402		$ 385
Concession Fee Recoveries
Loss Contingencies [Line Items]
Litigation settlement, amount	$ 42
Litigation settlement, interest	11
Litigation settlement, expense	3.1
Concession Fee Recoveries | Restitution Fund
Loss Contingencies [Line Items]
Litigation settlement, expense	$ 3.1
French Road Tax
Loss Contingencies [Line Items]
Estimate of possible loss			$ 23

Related Party Transactions (Det

Related Party Transactions (Details) $ in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Nov. 30, 2015USD ($)	Aug. 31, 2015USD ($)	Nov. 13, 2014USD ($)	Sep. 15, 2014nomineeDirectorshares
Related Party Transactions
Due from affiliate		$ 0	$ 95			$ 425	$ 125
Non-cash dividend paid to affiliate	$ 365		0	$ 0
Hertz Global Holdings
Related Party Transactions
Due from affiliate		345	95
Parent
Related Party Transactions
Due from affiliate		4,158	2,957
Non-cash dividend paid to affiliate		$ 365	$ 0	$ 0
Hertz Global Holdings | Icahn Group | Investee
Related Party Transactions
Board resignation trigger one, number of designees | nominee								1
Agreements with Icahn Group | Hertz Global Holdings | Icahn Group | Investee
Related Party Transactions
Percentage of maximum voting interest								20.00%
Board resignation trigger two, number of designees | nominee								2
Hertz Global Holdings
Related Party Transactions
Due from affiliate					$ 650
Maximum | Agreements with Icahn Group | Icahn Group | Investor
Related Party Transactions
Number of board members | Director								10
Minimum | Hertz Global Holdings | Icahn Group | Investee
Related Party Transactions
Trigger to force one Icahn designee to resign from board (in shares) | shares								28,500,000
Minimum | Agreements with Icahn Group | Hertz Global Holdings | Icahn Group | Investee
Related Party Transactions
Trigger to force two Icahn designees to resign from board (in shares) | shares								22,800,000
Trigger to force all Icahn designees to resign from board (in shares) | shares								19,000,000

Guarantor and Non-Guarantor C93

Guarantor and Non-Guarantor Condensed Consolidating Financial Statements (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other intangible assets, net	$ 3,822				$ 4,009
Investment in subsidiaries, net	0				0
Non-Guarantor Subsidiaries
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other intangible assets, net	30				53
Investment in subsidiaries, net	0				0
Guarantor Subsidiaries
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other intangible assets, net	3,656				3,777
Investment in subsidiaries, net	$ 1,161				1,607
Restatement Adjustment | Prior Period Misstatements Corrected in Current Period | Non-Guarantor Subsidiaries
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other intangible assets, net		$ 564	$ 564	$ 564	564
Restatement Adjustment | Prior Period Misstatements Corrected in Current Period | Guarantor Subsidiaries
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Investment in subsidiaries, net		$ 400	$ 219	$ 85	$ 94

Guarantor and Non-Guarantor C94

Guarantor and Non-Guarantor Condensed Consolidating Financial Statements (Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Aug. 31, 2015	Dec. 31, 2014	Nov. 13, 2014	Dec. 31, 2013	Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 479		$ 490		$ 411	$ 541
Restricted cash and cash equivalents	349		571
Receivables, less allowance for doubtful accounts	2,074		1,597
Due from Hertz Affiliate	0	$ 425	95	$ 125
Inventories, net	51		67
Prepaid expenses and other assets	848		917
Revenue earning equipment, net	13,128		13,653
Property and equipment, net	1,248		1,322
Investment in subsidiaries, net	0		0
Other intangible assets, net	3,822		4,009
Goodwill	1,354		1,359		1,352
Total assets	23,353		24,080
LIABILITIES AND EQUITY
Due to Hertz affiliate	0		0
Accounts payable	875		1,008
Accrued liabilities	1,106		1,148
Accrued taxes, net	172		134
Debt	15,907		15,993
Public liability and property damage	402		385
Deferred taxes on income, net	2,943		2,917
Total liabilities	21,405		21,585
Equity:
Total equity	1,948		2,495
Total liabilities and equity	23,353		24,080
Eliminations
ASSETS
Cash and cash equivalents	0		0		0	0
Restricted cash and cash equivalents	0		0
Receivables, less allowance for doubtful accounts	0		0
Due from Hertz Affiliate	(14,939)		(8,785)
Inventories, net	0		0
Prepaid expenses and other assets	(4,437)		(3,901)
Revenue earning equipment, net	0		0
Property and equipment, net	0		0
Investment in subsidiaries, net	(8,754)		(8,504)
Other intangible assets, net	0		0
Goodwill	0		0
Total assets	(28,130)		(21,190)
LIABILITIES AND EQUITY
Due to Hertz affiliate	(14,939)		(8,785)
Accounts payable	0		0
Accrued liabilities	0		0
Accrued taxes, net	(2,765)		(2,211)
Debt	0		0
Public liability and property damage	0		0
Deferred taxes on income, net	(1,672)		(1,690)
Total liabilities	(19,376)		(12,686)
Equity:
Total equity	(8,754)		(8,504)
Total liabilities and equity	(28,130)		(21,190)
Parent
ASSETS
Cash and cash equivalents	179		2		62	25
Restricted cash and cash equivalents	57		84
Receivables, less allowance for doubtful accounts	399		272
Due from Hertz Affiliate	4,158		2,957
Inventories, net	15		20
Prepaid expenses and other assets	4,285		3,900
Revenue earning equipment, net	388		306
Property and equipment, net	777		730
Investment in subsidiaries, net	7,593		6,897
Other intangible assets, net	136		179
Goodwill	102		104
Total assets	18,089		15,451
LIABILITIES AND EQUITY
Due to Hertz affiliate	8,888		5,702
Accounts payable	262		65
Accrued liabilities	608		599
Accrued taxes, net	65		62
Debt	6,172		6,393
Public liability and property damage	146		135
Deferred taxes on income, net	0		0
Total liabilities	16,141		12,956
Equity:
Total equity	1,948		2,495
Total liabilities and equity	18,089		15,451
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	17		14		6	6
Restricted cash and cash equivalents	19		26
Receivables, less allowance for doubtful accounts	428		419
Due from Hertz Affiliate	3,238		1,528
Inventories, net	21		25
Prepaid expenses and other assets	963		831
Revenue earning equipment, net	2,087		1,988
Property and equipment, net	288		308
Investment in subsidiaries, net	1,161		1,607
Other intangible assets, net	3,656		3,777
Goodwill	1,035		1,033
Total assets	12,913		11,556
LIABILITIES AND EQUITY
Due to Hertz affiliate	2,129		1,005
Accounts payable	171		212
Accrued liabilities	155		231
Accrued taxes, net	30		31
Debt	64		74
Public liability and property damage	56		57
Deferred taxes on income, net	2,703		2,541
Total liabilities	5,308		4,151
Equity:
Total equity	7,605		7,405
Total liabilities and equity	12,913		11,556
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	283		474		$ 343	$ 510
Restricted cash and cash equivalents	273		461
Receivables, less allowance for doubtful accounts	1,247		906
Due from Hertz Affiliate	7,543		4,395
Inventories, net	15		22
Prepaid expenses and other assets	37		87
Revenue earning equipment, net	10,653		11,359
Property and equipment, net	183		284
Investment in subsidiaries, net	0		0
Other intangible assets, net	30		53
Goodwill	217		222
Total assets	20,481		18,263
LIABILITIES AND EQUITY
Due to Hertz affiliate	3,922		2,078
Accounts payable	442		731
Accrued liabilities	343		318
Accrued taxes, net	2,842		2,252
Debt	9,671		9,526
Public liability and property damage	200		193
Deferred taxes on income, net	1,912		2,066
Total liabilities	19,332		17,164
Equity:
Total equity	1,149		1,099
Total liabilities and equity	$ 20,481		$ 18,263

Guarantor and Non-Guarantor C95

Guarantor and Non-Guarantor Condensed Consolidating Financial Statements (Statement of Operations and Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Total revenues	$ 2,413	$ 2,976	$ 2,692	$ 2,454	$ 2,559	$ 3,121	$ 2,830	$ 2,536	$ 10,535	$ 11,046	$ 10,775
Expenses:
Direct operating									5,896	6,314	5,777
Depreciation of revenue earning equipment and lease charges, net									2,762	3,034	2,533
Selling, general and administrative									1,045	1,088	1,053
Interest expense, net									619	641	669
Other (income) expense, net									(131)	(15)	64
Total expenses									10,191	11,062	10,096
Total	50	308	71	(86)	(284)	204	123	(59)	344	(16)	679
(Provision) benefit for taxes on income (loss)									(68)	(62)	(329)
Equity in earnings (losses) of subsidiaries, net of tax									0	0	0
Net income (loss)	$ 71	$ 238	$ 36	$ (70)	$ (234)	$ 150	$ 73	$ (67)	276	(78)	350
Other comprehensive income (loss)									(130)	(121)	29
Other comprehensive income (loss)									146	(199)	379
Eliminations
Condensed Financial Statements, Captions [Line Items]
Total revenues									(2,600)	(3,057)	(3,167)
Expenses:
Direct operating									(2)	(2)	(2)
Depreciation of revenue earning equipment and lease charges, net									(2,597)	(3,051)	(3,162)
Selling, general and administrative									(1)	(4)	(3)
Interest expense, net									0	0	0
Other (income) expense, net									0	0	0
Total expenses									(2,600)	(3,057)	(3,167)
Total									0	0	0
(Provision) benefit for taxes on income (loss)									0	0	0
Equity in earnings (losses) of subsidiaries, net of tax									(1,369)	(1,070)	(1,531)
Net income (loss)									(1,369)	(1,070)	(1,531)
Other comprehensive income (loss)									118	118	28
Other comprehensive income (loss)									(1,251)	(952)	(1,503)
Parent
Condensed Financial Statements, Captions [Line Items]
Total revenues									4,618	4,703	4,552
Expenses:
Direct operating									2,886	2,989	2,576
Depreciation of revenue earning equipment and lease charges, net									1,951	2,510	2,723
Selling, general and administrative									522	528	510
Interest expense, net									352	344	337
Other (income) expense, net									0	(22)	51
Total expenses									5,711	6,349	6,197
Total									(1,093)	(1,646)	(1,645)
(Provision) benefit for taxes on income (loss)									261	612	619
Equity in earnings (losses) of subsidiaries, net of tax									1,108	956	1,376
Net income (loss)									276	(78)	350
Other comprehensive income (loss)									(130)	(121)	29
Other comprehensive income (loss)									146	(199)	379
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenues									2,788	2,799	2,678
Expenses:
Direct operating									1,510	1,523	1,468
Depreciation of revenue earning equipment and lease charges, net									934	766	656
Selling, general and administrative									215	216	214
Interest expense, net									13	20	34
Other (income) expense, net									42	(5)	(6)
Total expenses									2,714	2,520	2,366
Total									74	279	312
(Provision) benefit for taxes on income (loss)									(27)	(150)	(130)
Equity in earnings (losses) of subsidiaries, net of tax									261	114	155
Net income (loss)									308	243	337
Other comprehensive income (loss)									(4)	(6)	(7)
Other comprehensive income (loss)									304	237	330
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenues									5,729	6,601	6,712
Expenses:
Direct operating									1,502	1,804	1,735
Depreciation of revenue earning equipment and lease charges, net									2,474	2,809	2,316
Selling, general and administrative									309	348	332
Interest expense, net									254	277	298
Other (income) expense, net									(173)	12	19
Total expenses									4,366	5,250	4,700
Total									1,363	1,351	2,012
(Provision) benefit for taxes on income (loss)									(302)	(524)	(818)
Equity in earnings (losses) of subsidiaries, net of tax									0	0	0
Net income (loss)									1,061	827	1,194
Other comprehensive income (loss)									(114)	(112)	(21)
Other comprehensive income (loss)									$ 947	$ 715	$ 1,173

Guarantor and Non-Guarantor C96

Guarantor and Non-Guarantor Condensed Consolidating Financial Statements (Statement of Cash Flows) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 3,332	$ 3,457	$ 3,615
Cash flows from investing activities:
Net change in restricted cash and cash equivalents	215	283	(315)
Revenue earning equipment expenditures	(12,658)	(11,289)	(10,289)
Proceeds from disposal of revenue earning equipment	9,623	8,209	7,256
Capital asset expenditures, non-fleet	(327)	(374)	(327)
Proceeds from disposal of property and other equipment	115	93	81
Sales of (investment in) shares in equity method investment	236	(30)	(213)
Capital contributions to subsidiaries	0	0	0
Return of capital from subsidiaries	0	0	0
Loan to Parent from Non-Guarantor	0	0	0
Acquisitions, net of cash acquired	(95)	(75)	(41)
Proceeds from disposal of business	126	0	0
Advances to Hertz Global Holdings, Inc.	(267)	(28)	(129)
Repayments from Hertz Global Holdings, Inc.	0	25	49
Other investing activities	0	0	(2)
Net cash provided by (used in) investing activities	(3,032)	(3,186)	(3,930)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	1,676	400	2,275
Repayments of long-term debt	(1,293)	(1,183)	(1,045)
Short-term borrowings:
Proceeds	623	626	596
Payments	(617)	(726)	(1,018)
Proceeds under the revolving lines of credit	7,097	5,864	9,012
Payments under the revolving lines of credit	(7,393)	(5,081)	(9,104)
Capital contributions received	0	0	0
Loan to Parent / Guarantor From Non-Guarantor	0	0	0
Dividend paid to Hertz Global Holdings, Inc.	0	0	(482)
Payment of financing costs	(29)	(63)	(54)
Origination of Notes Receivable from Related Parties	(344)	0	0
Other	0	2	5
Net cash provided by (used in) financing activities	(280)	(161)	185
Effect of foreign exchange rate changes on cash and cash equivalents	(31)	(31)	0
Net change in cash and cash equivalents during the period	(11)	79	(130)
Cash and cash equivalents at beginning of period	490	411	541
Cash and cash equivalents at end of period	479	490	411
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(524)	(1,037)	(916)
Cash flows from investing activities:
Net change in restricted cash and cash equivalents	0	0	0
Revenue earning equipment expenditures	0	0	0
Proceeds from disposal of revenue earning equipment	0	0	0
Capital asset expenditures, non-fleet	0	0	0
Proceeds from disposal of property and other equipment	0	0	0
Sales of (investment in) shares in equity method investment	0	0	0
Capital contributions to subsidiaries	2,831	1,651	938
Return of capital from subsidiaries	(5,077)	(1,722)	(1,317)
Loan to Parent from Non-Guarantor	737	480	253
Acquisitions, net of cash acquired	0	0	0
Proceeds from disposal of business	0
Advances to Hertz Global Holdings, Inc.	0	0	0
Repayments from Hertz Global Holdings, Inc.		0	0
Other investing activities			0
Net cash provided by (used in) investing activities	(1,509)	409	(126)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	0	0	0
Repayments of long-term debt	0	0	0
Short-term borrowings:
Proceeds	0	0	0
Payments	0	0	0
Proceeds under the revolving lines of credit	0	0	0
Payments under the revolving lines of credit	0	0	0
Capital contributions received	(2,831)	(1,651)	(938)
Loan to Parent / Guarantor From Non-Guarantor	(737)	(480)	(253)
Dividend paid to Hertz Global Holdings, Inc.	5,601	2,759	2,233
Payment of financing costs	0	0	0
Origination of Notes Receivable from Related Parties	0
Other	0	0	0
Net cash provided by (used in) financing activities	2,033	628	1,042
Effect of foreign exchange rate changes on cash and cash equivalents	0	0	0
Net change in cash and cash equivalents during the period	0	0	0
Cash and cash equivalents at beginning of period	0	0	0
Cash and cash equivalents at end of period	0	0	0
Parent
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(1,485)	(387)	164
Cash flows from investing activities:
Net change in restricted cash and cash equivalents	25	(27)	(24)
Revenue earning equipment expenditures	(434)	(243)	(138)
Proceeds from disposal of revenue earning equipment	303	183	126
Capital asset expenditures, non-fleet	(154)	(195)	(198)
Proceeds from disposal of property and other equipment	53	43	50
Sales of (investment in) shares in equity method investment	0	0	0
Capital contributions to subsidiaries	(2,650)	(1,614)	(938)
Return of capital from subsidiaries	4,634	1,722	1,134
Loan to Parent from Non-Guarantor	0	0	0
Acquisitions, net of cash acquired	(17)	0	0
Proceeds from disposal of business	0
Advances to Hertz Global Holdings, Inc.	(267)	(28)	(129)
Repayments from Hertz Global Holdings, Inc.	0	25	49
Other investing activities			0
Net cash provided by (used in) investing activities	1,493	(134)	(68)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	2	0	250
Repayments of long-term debt	(23)	(42)	(34)
Short-term borrowings:
Proceeds	0	0	0
Payments	0	0	0
Proceeds under the revolving lines of credit	1,892	2,507	2,280
Payments under the revolving lines of credit	(2,091)	(2,431)	(2,322)
Capital contributions received	0	0	0
Loan to Parent / Guarantor From Non-Guarantor	737	437	253
Dividend paid to Hertz Global Holdings, Inc.	0	0	(482)
Payment of financing costs	(4)	(12)	(9)
Origination of Notes Receivable from Related Parties	(344)	0	0
Other	0	2	5
Net cash provided by (used in) financing activities	169	461	(59)
Effect of foreign exchange rate changes on cash and cash equivalents	0	0	0
Net change in cash and cash equivalents during the period	177	(60)	37
Cash and cash equivalents at beginning of period	2	62	25
Cash and cash equivalents at end of period	179	2	62
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	245	456	540
Cash flows from investing activities:
Net change in restricted cash and cash equivalents	7	45	(60)
Revenue earning equipment expenditures	(603)	(596)	(889)
Proceeds from disposal of revenue earning equipment	161	261	353
Capital asset expenditures, non-fleet	(68)	(54)	(40)
Proceeds from disposal of property and other equipment	13	17	6
Sales of (investment in) shares in equity method investment	0	0	0
Capital contributions to subsidiaries	(181)	(37)	0
Return of capital from subsidiaries	443	0	183
Loan to Parent from Non-Guarantor	0	(43)	(57)
Acquisitions, net of cash acquired	(3)	(28)	(15)
Proceeds from disposal of business	0
Advances to Hertz Global Holdings, Inc.	0	0	0
Repayments from Hertz Global Holdings, Inc.		0	0
Other investing activities			0
Net cash provided by (used in) investing activities	(231)	(435)	(519)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	0	0	0
Repayments of long-term debt	0	0	0
Short-term borrowings:
Proceeds	0	0	0
Payments	0	0	0
Proceeds under the revolving lines of credit	0	0	3
Payments under the revolving lines of credit	(8)	(10)	(14)
Capital contributions received	0	0	0
Loan to Parent / Guarantor From Non-Guarantor	0	0	0
Dividend paid to Hertz Global Holdings, Inc.	0	0	0
Payment of financing costs	(3)	(3)	(10)
Origination of Notes Receivable from Related Parties	0
Other	0	0	0
Net cash provided by (used in) financing activities	(11)	(13)	(21)
Effect of foreign exchange rate changes on cash and cash equivalents	0	0	0
Net change in cash and cash equivalents during the period	3	8	0
Cash and cash equivalents at beginning of period	14	6	6
Cash and cash equivalents at end of period	17	14	6
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	5,096	4,425	3,827
Cash flows from investing activities:
Net change in restricted cash and cash equivalents	183	265	(231)
Revenue earning equipment expenditures	(11,621)	(10,450)	(9,262)
Proceeds from disposal of revenue earning equipment	9,159	7,765	6,777
Capital asset expenditures, non-fleet	(105)	(125)	(89)
Proceeds from disposal of property and other equipment	49	33	25
Sales of (investment in) shares in equity method investment	236	(30)	(213)
Capital contributions to subsidiaries	0	0	0
Return of capital from subsidiaries	0	0	0
Loan to Parent from Non-Guarantor	(737)	(437)	(196)
Acquisitions, net of cash acquired	(75)	(47)	(26)
Proceeds from disposal of business	126
Advances to Hertz Global Holdings, Inc.	0	0	0
Repayments from Hertz Global Holdings, Inc.		0	0
Other investing activities			(2)
Net cash provided by (used in) investing activities	(2,785)	(3,026)	(3,217)
Cash flows from financing activities:
Proceeds from issuance of long-term debt	1,674	400	2,025
Repayments of long-term debt	(1,270)	(1,141)	(1,011)
Short-term borrowings:
Proceeds	623	626	596
Payments	(617)	(726)	(1,018)
Proceeds under the revolving lines of credit	5,205	3,357	6,729
Payments under the revolving lines of credit	(5,294)	(2,640)	(6,768)
Capital contributions received	2,831	1,651	938
Loan to Parent / Guarantor From Non-Guarantor	0	43	0
Dividend paid to Hertz Global Holdings, Inc.	(5,601)	(2,759)	(2,233)
Payment of financing costs	(22)	(48)	(35)
Origination of Notes Receivable from Related Parties	0
Other	0	0	0
Net cash provided by (used in) financing activities	(2,471)	(1,237)	(777)
Effect of foreign exchange rate changes on cash and cash equivalents	(31)	(31)	0
Net change in cash and cash equivalents during the period	(191)	131	(167)
Cash and cash equivalents at beginning of period	474	343	510
Cash and cash equivalents at end of period	$ 283	$ 474	$ 343

Segment Information (Details)

Segment Information (Details) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)segment	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Segment Reporting, Revenue Reconciling Item [Line Items]
Number of reportable segments | segment									4
Revenues	$ 2,413	$ 2,976	$ 2,692	$ 2,454	$ 2,559	$ 3,121	$ 2,830	$ 2,536	$ 10,535	$ 11,046	$ 10,775
Adjusted pre-tax income									575	408	1,125
Depreciation of revenue earning equipment and lease charges, net									2,762	3,034	2,533
Depreciation and amortization, non-fleet									352	366	339
Interest expense, net									619	641	669
Payments for (Proceeds from) Productive Assets [Abstract]
Total assets at end of year	23,353				24,080				23,353	24,080
Revenue earning equipment, net, at end of year	13,128				13,653				13,128	13,653
Property and equipment, net, at end of year	1,248				1,322				1,248	1,322
Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Adjusted pre-tax income									1,023	851	1,526
Corporate
Segment Reporting, Revenue Reconciling Item [Line Items]
Depreciation and amortization, non-fleet									19	17	11
Payments for (Proceeds from) Productive Assets [Abstract]
Expenditures									(101)	(54)	(28)
Proceeds from disposals									49	34	4
Net expenditures									(52)	(20)	(24)
United States
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									8,066	8,158	7,921
Payments for (Proceeds from) Productive Assets [Abstract]
Total assets at end of year	18,881				19,172				18,881	19,172
Revenue earning equipment, net, at end of year	10,938				11,235				10,938	11,235
Property and equipment, net, at end of year	1,081				1,118				1,081	1,118
International
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									2,469	2,888	2,854
Payments for (Proceeds from) Productive Assets [Abstract]
Total assets at end of year	4,472				4,908				4,472	4,908
Revenue earning equipment, net, at end of year	2,190				2,418				2,190	2,418
Property and equipment, net, at end of year	167				204				167	204
U.S. car rental | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									6,286	6,471	6,331
Adjusted pre-tax income									551	387	1,033
Depreciation of revenue earning equipment and lease charges, net									1,572	1,758	1,281
Depreciation and amortization, non-fleet									209	222	207
Interest expense, net									165	172	187
Payments for (Proceeds from) Productive Assets [Abstract]
Expenditures									(7,930)	(6,175)	(6,242)
Proceeds from disposals									6,280	4,530	4,385
Net expenditures									(1,650)	(1,645)	(1,857)
Total assets at end of year	13,614				13,712				13,614	13,712
Revenue earning equipment, net, at end of year	7,600				8,070				7,600	8,070
Property and equipment, net, at end of year	730				789				730	789
International car rental | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									2,148	2,436	2,378
Adjusted pre-tax income									215	144	134
Depreciation of revenue earning equipment and lease charges, net									398	492	528
Depreciation and amortization, non-fleet									37	41	37
Interest expense, net									70	95	113
Payments for (Proceeds from) Productive Assets [Abstract]
Expenditures									(2,887)	(3,165)	(2,640)
Proceeds from disposals									2,412	2,531	2,251
Net expenditures									(475)	(634)	(389)
Total assets at end of year	3,007				3,358				3,007	3,358
Revenue earning equipment, net, at end of year	1,858				1,904				1,858	1,904
Property and equipment, net, at end of year	135				155				135	155
Worldwide equipment rental | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									1,518	1,571	1,539
Adjusted pre-tax income									189	258	301
Depreciation of revenue earning equipment and lease charges, net									329	329	299
Depreciation and amortization, non-fleet									77	75	74
Interest expense, net									57	53	46
Payments for (Proceeds from) Productive Assets [Abstract]
Expenditures									(670)	(658)	(694)
Proceeds from disposals									156	197	141
Net expenditures									(514)	(461)	(553)
Total assets at end of year	3,809				3,836				3,809	3,836
Revenue earning equipment, net, at end of year	2,382				2,442				2,382	2,442
Property and equipment, net, at end of year	247				265				247	265
All Other Operations | Operating Segments
Segment Reporting, Revenue Reconciling Item [Line Items]
Revenues									583	568	527
Adjusted pre-tax income									68	62	58
Depreciation of revenue earning equipment and lease charges, net									463	455	425
Depreciation and amortization, non-fleet									10	11	10
Interest expense, net									10	12	14
Payments for (Proceeds from) Productive Assets [Abstract]
Expenditures									(1,397)	(1,611)	(1,012)
Proceeds from disposals									841	1,010	556
Net expenditures									(556)	(601)	(456)
Total assets at end of year	1,522				1,458				1,522	1,458
Revenue earning equipment, net, at end of year	1,288				1,237				1,288	1,237
Property and equipment, net, at end of year	5				6				5	6
Other reconciling items
Segment Reporting, Revenue Reconciling Item [Line Items]
Adjusted pre-tax income									(448)	(443)	(401)
Interest expense, net									317	309	$ 309
Payments for (Proceeds from) Productive Assets [Abstract]
Total assets at end of year	1,401				1,716				1,401	1,716
Property and equipment, net, at end of year	$ 131				$ 107				$ 131	$ 107

Segment Information (Pre-tax In

Segment Information (Pre-tax Income) (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended	3 Months Ended								12 Months Ended
	Oct. 31, 2015	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Segment Reporting Information [Line Items]
Adjusted pre-tax income										$ 575	$ 408	$ 1,125
Income (loss) before income taxes		$ 50	$ 308	$ 71	$ (86)	$ (284)	$ 204	$ 123	$ (59)	344	(16)	679
Impairment of leasehold												$ 40
Other non-cash changes										$ (7)	(30)
Impairment of long-lived assets to be disposed of											10
CAR, Inc | Common Stock
Segment Reporting Information [Line Items]
Number of shares issued in transaction										138
Impairment of Former Corporate Headquarters
Segment Reporting Information [Line Items]
Other non-cash changes											(13)
Business Relationship
Segment Reporting Information [Line Items]
Asset impairment charges											10
European Fleet Notes
Segment Reporting Information [Line Items]
Interest rate (as a percent)												8.50%
French Road Tax
Segment Reporting Information [Line Items]
Estimate of possible loss			$ 23
Purchase accounting
Segment Reporting Information [Line Items]
Income (loss) before income taxes										$ (124)	(132)	$ (132)
Debt-related charges
Segment Reporting Information [Line Items]
Income (loss) before income taxes										(63)	(51)	(49)
Restructuring charges
Segment Reporting Information [Line Items]
Income (loss) before income taxes										(96)	(159)	(99)
Acquisition related costs and charges
Segment Reporting Information [Line Items]
Income (loss) before income taxes										(3)	(10)	(19)
Integration expenses
Segment Reporting Information [Line Items]
Income (loss) before income taxes										(5)	(9)	(43)
Equipment Rental spin-off costs
Segment Reporting Information [Line Items]
Income (loss) before income taxes										(35)	(39)	0
Other Operating Income (Expense) | Trade name | HERC
Segment Reporting Information [Line Items]
Impairment of indefinite lived intangible assets	$ 40
Relocation costs
Segment Reporting Information [Line Items]
Income (loss) before income taxes										(5)	(9)	(7)
Premiums paid on debt
Segment Reporting Information [Line Items]
Income (loss) before income taxes										0	0	(29)
Loss on extinguishment of debt
Segment Reporting Information [Line Items]
Income (loss) before income taxes										0	(1)	(7)
Sale of CAR, Inc. Common Stock
Segment Reporting Information [Line Items]
Income (loss) before income taxes										133	0	0
Gain on divestiture
Segment Reporting Information [Line Items]
Income (loss) before income taxes										51	0	0
Impairment charges
Segment Reporting Information [Line Items]
Income (loss) before income taxes										(57)	(34)	(40)
Other
Segment Reporting Information [Line Items]
Income (loss) before income taxes										(27)	20	(21)
Litigation settlement											19
Beneficial conversion feature												12
Selling, General and Administrative Expenses | Building and Building Improvements | Discontinued Operations, Held-for-sale
Segment Reporting Information [Line Items]
Asset impairment charges										6
Other Nonoperating Income (Expense) | Discontinued Operations, Held-for-sale
Segment Reporting Information [Line Items]
Asset impairment charges					3					5
Asset write downs					$ 3
HERC | Equipment Rental spin-off costs
Segment Reporting Information [Line Items]
Income (loss) before income taxes										26	28
HERC | Other
Segment Reporting Information [Line Items]
Depreciation													$ 5
Total reportable segments
Segment Reporting Information [Line Items]
Adjusted pre-tax income										1,023	851	1,526
Corporate | Equipment Rental spin-off costs
Segment Reporting Information [Line Items]
Income (loss) before income taxes										9	11
U.S. car rental | Total reportable segments
Segment Reporting Information [Line Items]
Adjusted pre-tax income										551	387	1,033
International car rental | Total reportable segments
Segment Reporting Information [Line Items]
Adjusted pre-tax income										215	144	134
Worldwide equipment rental | Total reportable segments
Segment Reporting Information [Line Items]
Adjusted pre-tax income										189	258	301
All Other Operations | Total reportable segments
Segment Reporting Information [Line Items]
Adjusted pre-tax income										68	62	58
Other reconciling items
Segment Reporting Information [Line Items]
Adjusted pre-tax income										$ (448)	$ (443)	$ (401)

Quarterly Financial Informati99

Quarterly Financial Information (Unaudited) (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income (loss) before income taxes	$ (50)	$ (308)	$ (71)	$ 86	$ 284	$ (204)	$ (123)	$ 59	$ (344)	$ 16	$ (679)
Net income (loss)	$ 71	238	$ 36	$ (70)	$ (234)	$ 150	$ 73	$ (67)	276	$ (78)	$ 350
Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income (loss) before income taxes		18
Net income (loss)		(13)							(9)
Prior Period Misstatements Corrected in Current Period | Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income (loss) before income taxes									13
Post Acquisition Accounting Adjustment | Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income (loss) before income taxes		4							4
Concession Fee Recoveries | Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income (loss) before income taxes		4							4
Adjustment to Obligations for Uncollected Customer Fees | Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income (loss) before income taxes		4							4
Capitalization and Timing of Depreciation or Non-Fleet Expenditures | Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income (loss) before income taxes		3							$ 1
Other Immaterial Errors | Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Income (loss) before income taxes		$ 3

Quarterly Financial Informat100

Quarterly Financial Information (Unaudited) (Statement of Operations) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 2,413	$ 2,976	$ 2,692	$ 2,454	$ 2,559	$ 3,121	$ 2,830	$ 2,536	$ 10,535	$ 11,046	$ 10,775
Income (loss) before income taxes	50	308	71	(86)	(284)	204	123	(59)	344	(16)	679
Net income (loss)	$ 71	$ 238	$ 36	$ (70)	$ (234)	$ 150	$ 73	$ (67)	$ 276	$ (78)	$ 350

Subsequent Events (Details)

Subsequent Events (Details) - USD ($)	2 Months Ended
	Feb. 24, 2016	Feb. 22, 2016	Dec. 31, 2015	Dec. 31, 2014	Jul. 31, 2014	Nov. 30, 2013
Subsequent Event [Line Items]
Outstanding principal			$ 3,900,000,000	$ 3,900,000,000
HVF II Series 2014-A Notes, Class A
Subsequent Event [Line Items]
Outstanding principal			$ 1,737,000,000	869,000,000	$ 1,000,000,000
Average interest rate (as a percent)			1.78%
HVF II Series 2013-A Notes, Class A
Subsequent Event [Line Items]
Outstanding principal			$ 980,000,000	1,999,000,000		$ 2,575,000,000
Average interest rate (as a percent)			1.27%
Subsequent Event
Subsequent Event [Line Items]
Outstanding principal	$ 81,000,000
Subsequent Event | HVF II Series 2016-1 Notes
Subsequent Event [Line Items]
Outstanding principal	1,060,000,000
Subsequent Event | HVF II Series 2016-1 Notes, Class A
Subsequent Event [Line Items]
Outstanding principal	$ 333,000,000
Average interest rate (as a percent)	2.32%
Subsequent Event | HVF II Series 2016-1 Notes, Class B
Subsequent Event [Line Items]
Average interest rate (as a percent)	3.72%
Subsequent Event | HVF II Series 2016-1 Notes, Class C
Subsequent Event [Line Items]
Outstanding principal	$ 25,000,000
Average interest rate (as a percent)	4.75%
Subsequent Event | HVF II Series 2016-1 Notes, Class D
Subsequent Event [Line Items]
Outstanding principal	$ 27,000,000
Average interest rate (as a percent)	5.73%
Subsequent Event | HVF II Series 2016-2 Notes, Class A
Subsequent Event [Line Items]
Outstanding principal	$ 425,000,000
Average interest rate (as a percent)	2.95%
Subsequent Event | HVF II Series 2016-2 Notes, Class B
Subsequent Event [Line Items]
Outstanding principal	$ 104,000,000
Average interest rate (as a percent)	3.94%
Subsequent Event | HVF II Series 2016-2 Notes, Class C
Subsequent Event [Line Items]
Outstanding principal	$ 32,000,000
Average interest rate (as a percent)	4.99%
Subsequent Event | HVF II Series 2016-2 Notes, Class D
Subsequent Event [Line Items]
Outstanding principal	$ 34,000,000
Average interest rate (as a percent)	5.97%
Subsequent Event | HVF II Series 2016-2 Notes, Class D | Eliminations | Affiliated Entity
Subsequent Event [Line Items]
Outstanding principal	$ 61,000,000
Subsequent Event | HVF II Series 2014-A Notes, Class A
Subsequent Event [Line Items]
Repayments of Debt	741,000,000
Subsequent Event | HVF II Series 2013-A Notes, Class A
Subsequent Event [Line Items]
Repayments of Debt	$ 264,000,000
CAR, Inc | Level 1 | Prepaid expenses and other current assets
Subsequent Event [Line Items]
Fair value of investment using quoted market prices			$ 406,000,000	$ 514,000,000
CAR, Inc | Level 1 | Prepaid expenses and other current assets | Subsequent Event
Subsequent Event [Line Items]
Fair value of investment using quoted market prices		$ 292,000,000

SCHEDULE I CONDENSED FINANCI102

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Balance Sheets) (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2015	Aug. 31, 2015	Dec. 31, 2014	Nov. 13, 2014	Dec. 31, 2013	Dec. 31, 2012
ASSETS
Cash and cash equivalents	$ 479		$ 490		$ 411	$ 541
Restricted cash and cash equivalents	349		571
Receivables, less allowance for doubtful accounts	2,074		1,597
Due from affiliate	0	$ 425	95	$ 125
Inventories, net	51		67
Prepaid expenses and other assets	848		917
Revenue earning equipment, net	13,128		13,653
Property and equipment, net	1,248		1,322
Investment in subsidiaries, net	0		0
Other intangible assets, net	3,822		4,009
Goodwill	1,354		1,359		1,352
Total assets	23,353		24,080
LIABILITIES AND STOCKHOLDERS' EQUITY
Due to Hertz affiliate	0		0
Accounts payable	875		1,008
Accrued liabilities	1,106		1,148
Accrued taxes, net	172		134
Debt	15,907		15,993
Public liability and property damage	402		385
Deferred taxes on income, net	2,943		2,917
Total liabilities	21,405		21,585
Stockholders' equity:
Common Stock, $0.01 par value, 3,000 shares authorized, 100 shares issued and outstanding	0		0
Additional paid-in capital	3,583		3,566
Stockholders' Equity, Receivable From Affiliate	(345)		0
Accumulated deficit	(1,045)		(956)
Accumulated other comprehensive income (loss)	(245)		(115)		6
Total equity	1,948		2,495
Total liabilities and equity	23,353		24,080
Receivables, allowance for doubtful accounts (in dollars)	$ 60		$ 67
Stock Transactions, Parenthetical Disclosures [Abstract]
Common Stock, par value (in dollars per share)	$ 0.01		$ 0.01
Common Stock, shares authorized	3,000		3,000
Common Stock, shares issued	100		100
Common Stock, shares outstanding	100		100
Parent
ASSETS
Cash and cash equivalents	$ 179		$ 2		$ 62	$ 25
Restricted cash and cash equivalents	57		84
Receivables, less allowance for doubtful accounts	399		272
Due from affiliate	4,158		2,957
Inventories, net	15		20
Prepaid expenses and other assets	4,285		3,900
Revenue earning equipment, net	388		306
Property and equipment, net	777		730
Investment in subsidiaries, net	7,593		6,897
Other intangible assets, net	136		179
Goodwill	102		104
Total assets	18,089		15,451
LIABILITIES AND STOCKHOLDERS' EQUITY
Due to Hertz affiliate	8,888		5,702
Accounts payable	262		65
Accrued liabilities	608		599
Accrued taxes, net	65		62
Debt	6,172		6,393
Public liability and property damage	146		135
Deferred taxes on income, net	0		0
Total liabilities	16,141		12,956
Stockholders' equity:
Common Stock, $0.01 par value, 3,000 shares authorized, 100 shares issued and outstanding	0		0
Additional paid-in capital	3,583		3,566
Stockholders' Equity, Receivable From Affiliate	(345)		0
Accumulated deficit	(1,045)		(956)
Accumulated other comprehensive income (loss)	(245)		(115)
Total equity	1,948		2,495
Total liabilities and equity	$ 18,089		$ 15,451
Stock Transactions, Parenthetical Disclosures [Abstract]
Common Stock, par value (in dollars per share)	$ 0.01		$ 0.01
Common Stock, shares authorized	3,000		3,000
Common Stock, shares issued	100		100
Common Stock, shares outstanding	100		100

SCHEDULE I CONDENSED FINANCI103

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Income Statement) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 2,413	$ 2,976	$ 2,692	$ 2,454	$ 2,559	$ 3,121	$ 2,830	$ 2,536	$ 10,535	$ 11,046	$ 10,775
Expenses:
Direct operating									5,896	6,314	5,777
Depreciation of revenue earning equipment and lease charges, net									2,762	3,034	2,533
Selling, general and administrative									1,045	1,088	1,053
Interest expense, net									619	641	669
Other (income) expense, net									(131)	(15)	64
Total expenses									10,191	11,062	10,096
Total	50	308	71	(86)	(284)	204	123	(59)	344	(16)	679
(Provision) benefit for taxes on income (loss)									(68)	(62)	(329)
Equity in earnings (losses) of subsidiaries, net of tax									0	0	0
Net income (loss)	$ 71	$ 238	$ 36	$ (70)	$ (234)	$ 150	$ 73	$ (67)	276	(78)	350
Parent
Condensed Financial Statements, Captions [Line Items]
Revenues									4,618	4,703	4,552
Expenses:
Direct operating									2,886	2,989	2,576
Depreciation of revenue earning equipment and lease charges, net									1,951	2,510	2,723
Selling, general and administrative									522	528	510
Interest expense, net									352	344	337
Other (income) expense, net									0	(22)	51
Total expenses									5,711	6,349	6,197
Total									(1,093)	(1,646)	(1,645)
(Provision) benefit for taxes on income (loss)									261	612	619
Equity in earnings (losses) of subsidiaries, net of tax									1,108	956	1,376
Net income (loss)									$ 276	$ (78)	$ 350

SCHEDULE I CONDENSED FINANCI104

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ 71	$ 238	$ 36	$ (70)	$ (234)	$ 150	$ 73	$ (67)	$ 276	$ (78)	$ 350
Other comprehensive income (loss)									(130)	(121)	29
Comprehensive income (loss)									146	(199)	379
Parent
Condensed Financial Statements, Captions [Line Items]
Net income (loss)									276	(78)	350
Other comprehensive income (loss)									(130)	(121)	29
Comprehensive income (loss)									$ 146	$ (199)	$ 379

SCHEDULE I CONDENSED FINANCI105

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Cash Flows) (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Oct. 31, 2015	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash flows from operating activities:
Net cash provided by (used in) operating activities		$ 3,332	$ 3,457	$ 3,615
Cash flows from investing activities:
Net change in restricted cash and cash equivalents		215	283	(315)
Revenue earning equipment expenditures		(12,658)	(11,289)	(10,289)
Proceeds from disposal of revenue earning equipment		9,623	8,209	7,256
Capital asset expenditures, non-fleet		(327)	(374)	(327)
Proceeds from disposal of property and other equipment		115	93	81
Capital contributions to subsidiaries		0	0	0
Return of capital from subsidiaries		0	0	0
Acquisitions, net of cash acquired		(95)	(75)	(41)
Advances to Hertz Global Holdings, Inc.		(267)	(28)	(129)
Repayments from Hertz Global Holdings, Inc.		0	25	49
Net cash provided by (used in) investing activities		(3,032)	(3,186)	(3,930)
Cash flows from financing activities:
Proceeds from issuance of long-term debt		1,676	400	2,275
Repayments of Long-term Debt		(1,293)	(1,183)	(1,045)
Payments		(617)	(726)	(1,018)
Proceeds from Lines of Credit		7,097	5,864	9,012
Payments under the revolving lines of credit		(7,393)	(5,081)	(9,104)
Dividend paid to Hertz Global Holdings, Inc.		0	0	(482)
Loan to Parent / Guarantor From Non-Guarantor		0	0	0
Payments of Financing Costs		(29)	(63)	(54)
Origination of Notes Receivable from Related Parties		(344)	0	0
Other		0	2	5
Net cash provided by (used in) financing activities		(280)	(161)	185
Net change in cash and cash equivalents during the period		(11)	79	(130)
Cash and cash equivalents at beginning of period		490	411	541
Cash and cash equivalents at end of period		479	490	411
Supplemental disclosures of cash flow information:
Non-cash dividend paid to affiliate	$ 365		0	0
Parent
Cash flows from operating activities:
Net cash provided by (used in) operating activities		(1,485)	(387)	164
Cash flows from investing activities:
Net change in restricted cash and cash equivalents		25	(27)	(24)
Revenue earning equipment expenditures		(434)	(243)	(138)
Proceeds from disposal of revenue earning equipment		303	183	126
Capital asset expenditures, non-fleet		(154)	(195)	(198)
Proceeds from disposal of property and other equipment		53	43	50
Capital contributions to subsidiaries		(2,650)	(1,614)	(938)
Return of capital from subsidiaries		4,634	1,722	1,134
Acquisitions, net of cash acquired		(17)	0	0
Advances to Hertz Global Holdings, Inc.		(267)	(28)	(129)
Repayments from Hertz Global Holdings, Inc.		0	25	49
Net cash provided by (used in) investing activities		1,493	(134)	(68)
Cash flows from financing activities:
Proceeds from issuance of long-term debt		2	0	250
Repayments of Long-term Debt		(23)	(42)	(34)
Payments		0	0	0
Proceeds from Lines of Credit		1,892	2,507	2,280
Payments under the revolving lines of credit		(2,091)	(2,431)	(2,322)
Dividend paid to Hertz Global Holdings, Inc.		0	0	(482)
Loan to Parent / Guarantor From Non-Guarantor		737	437	253
Payments of Financing Costs		(4)	(12)	(9)
Origination of Notes Receivable from Related Parties		(344)	0	0
Other		0	2	5
Net cash provided by (used in) financing activities		169	461	(59)
Net change in cash and cash equivalents during the period		177	(60)	37
Cash and cash equivalents at beginning of period		2	62	25
Cash and cash equivalents at end of period		179	2	62
Supplemental disclosures of cash flow information:
Non-cash dividend paid to affiliate		$ 365	$ 0	$ 0

SCHEDULE I CONDENSED FINANCI106

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Contingencies and Debt Oblilgations) (Details) - USD ($) $ in Millions	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Outstanding principal	$ 3,900	$ 3,900
Other Corporate Debt
Condensed Financial Statements, Captions [Line Items]
Outstanding principal	$ 66	$ 74

SCHEDULE I CONDENSED FINANCI107

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Distribution of Equity) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Condensed Financial Statements, Captions [Line Items]
Dividend paid to Hertz Global Holdings, Inc.	$ 0	$ 0	$ (482)
Eliminations
Condensed Financial Statements, Captions [Line Items]
Dividend paid to Hertz Global Holdings, Inc.	$ 5,601	$ 2,759	$ 2,233

SCHEDULE II VALUATION AND QU108

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Receivables allowances:
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	$ 67	$ 62	$ 53
Charged to Expense	55	62	71
Translation Adjustments	(2)	(1)	0
Deductions	(60)	(56)	(62)
Balance at end of period	60	67	62
Tax valuation allowances:
Valuation and Qualifying Accounts Disclosure [Line Items]
Balance at beginning of period	231	273	218
Charged to Expense	(49)	17	40
Translation Adjustments	(27)	(24)	15
Deductions	(4)	(35)	0
Balance at end of period	$ 151	$ 231	$ 273