Hertz (HRZ) 10-Q 10 Aug 20 2020 Q2 Quarterly report Financial data

Cover page

Cover page - shares	6 Months Ended
	Jun. 30, 2020	Aug. 03, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Document Transition Report	false
Entity Registrant Name	HERTZ GLOBAL HOLDINGS, INC
Entity Incorporation, State or Country Code	DE
Entity File Number	001-37665
Entity Tax Identification Number	61-1770902
Entity Address, Address Description	8501 Williams Road
Entity Address, City or Town	Estero,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33928
City Area Code	239
Local Phone Number	301-7000
Title of 12(b) Security	Common Stock
Trading Symbol	HTZ
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		156,206,478
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001657853
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false
The Hertz Corporation
Entity Information [Line Items]
Entity Registrant Name	HERTZ CORP
Entity Incorporation, State or Country Code	DE
Entity File Number	001-07541
Entity Tax Identification Number	13-1938568
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0000047129
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions		Jun. 30, 2020	Dec. 31, 2019
ASSETS
Cash and cash equivalents		$ 1,366	$ 865
Restricted cash and cash equivalents:		945	495
Total cash, cash equivalents, restricted cash and restricted cash equivalents		2,311	1,360
Receivables:		1,566	1,840
Prepaid expenses and other assets		563	689
Revenue earning vehicles:
Revenue earning vehicles, net		15,340	17,085
Less: accumulated depreciation		(3,275)	(3,296)
Total revenue earning vehicles, net		12,065	13,789
Property and equipment, net		724	757
Operating lease right-of-use assets		1,719	1,871
Intangible assets, net		3,088	3,238
Goodwill		1,080	1,083
Assets	[1]	23,116	24,627
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		516	943
Accrued liabilities		836	1,032
Accrued taxes, net		97	150
Debt:		12,982	17,089
Operating lease liabilities		1,690	1,848
Self-insured liabilities		495	553
Deferred income taxes, net		915	1,124
Total liabilities not subject to compromise		17,531	22,739
Liabilities subject to compromise		4,912	0
Total Liabilities		22,443	22,739
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, no shares issued and outstanding		0	0
Common stock, $0.01 par value, 158,235,410 and 144,153,444 shares issued, respectively and 156,206,478 and 142,124,512 shares outstanding, respectively		2	1
Additional paid-in capital		3,048	3,024
Accumulated deficit		(2,170)	(967)
Accumulated other comprehensive income (loss)		(221)	(189)
Treasury stock, at cost, 2,028,932 and 2,028,932 shares, respectively		(100)	(100)
Stockholders' equity attributable to Hertz Global		559	1,769
Noncontrolling interests		114	119
Total stockholders' equity		673	1,888
Total liabilities and stockholders' equity		23,116	24,627
Vehicles
ASSETS
Restricted cash and cash equivalents:		649	466
Receivables:		819	791
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		103	289
Debt:		12,924	13,368
Non-vehicle
ASSETS
Restricted cash and cash equivalents:		296	29
Receivables:		747	1,049
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		413	654
Debt:		58	3,721
The Hertz Corporation
ASSETS
Cash and cash equivalents		1,366	865
Restricted cash and cash equivalents:		916	495
Total cash, cash equivalents, restricted cash and restricted cash equivalents		2,282	1,360
Receivables:		1,566	1,840
Prepaid expenses and other assets		563	689
Revenue earning vehicles:
Revenue earning vehicles, net		15,340	17,085
Less: accumulated depreciation		(3,275)	(3,296)
Total revenue earning vehicles, net		12,065	13,789
Property and equipment, net		724	757
Operating lease right-of-use assets		1,719	1,871
Intangible assets, net		3,088	3,238
Goodwill		1,080	1,083
Assets	[2]	23,087	24,627
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		516	943
Accrued liabilities		836	1,032
Accrued taxes, net		97	150
Debt:		12,982	17,089
Operating lease liabilities		1,690	1,848
Self-insured liabilities		495	553
Deferred income taxes, net		891	1,128
Total liabilities not subject to compromise		17,507	22,743
Liabilities subject to compromise		4,977	0
Total Liabilities	[2]	22,484	22,743
Commitments and contingencies
Stockholders' equity:
Common stock, $0.01 par value, 158,235,410 and 144,153,444 shares issued, respectively and 156,206,478 and 142,124,512 shares outstanding, respectively		0	0
Additional paid-in capital		3,953	3,955
Due from affiliate		0	(64)
Accumulated deficit		(3,243)	(1,937)
Accumulated other comprehensive income (loss)		(221)	(189)
Stockholders' equity attributable to Hertz Global		489	1,765
Noncontrolling interests		114	119
Total stockholders' equity		603	1,884
Total liabilities and stockholders' equity		23,087	24,627
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Revenue earning vehicles:
Assets		986	1,300
LIABILITIES AND STOCKHOLDERS' EQUITY
Total Liabilities		873	1,100
The Hertz Corporation | Vehicles
ASSETS
Restricted cash and cash equivalents:		649	466
Receivables:		819	791
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		103	289
Debt:		12,924	13,368
The Hertz Corporation | Non-vehicle
ASSETS
Restricted cash and cash equivalents:		267	29
Receivables:		747	1,049
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		413	654
Debt:		$ 58	$ 3,721
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2020 and December 31, 2019 include total assets of variable interest entities (“VIEs”) of $986 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2020 and December 31, 2019 include total liabilities of VIEs of $873 million and $1.1 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Special Purpose Entities" in Note 5, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information.
[2]	The Hertz Corporation's consolidated total assets as of June 30, 2020 and December 31, 2019 include total assets of variable interest entities (“VIEs”) of $986 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of June 30, 2020 and December 31, 2019 include total liabilities of VIEs of $873 million and $1.1 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Special Purpose Entities" in Note 5, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares issued	158,235,410	144,153,444
Common Stock, shares outstanding	156,206,478	142,124,512
Treasury Stock, shares repurchased	2,028,932	2,028,932
Non-vehicle
Receivables, allowance for doubtful accounts (in dollars)	$ 44	$ 35
The Hertz Corporation
Receivables, allowance for doubtful accounts (in dollars)	$ 44	$ 35
Common stock, par value (in dollars per share)	$ 0.01		$ 0.01
Common Stock, shares issued	100		100
Common Stock, shares outstanding	100		100

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Revenues:
Worldwide vehicle rental	$ 668	$ 2,344	$ 2,417	$ 4,297
All other operations	164	167	338	321
Total revenues	832	2,511	2,755	4,618
Expenses:
Direct vehicle and operating	704	1,388	1,945	2,655
Depreciation of revenue earning vehicles and lease charges	610	634	1,286	1,226
Selling, general and administrative	168	258	377	490
Total interest expense, net	176	199	351	382
Write-off of intercompany loan			133	0
Other (income) expense, net	2	(12)	(15)	(31)
Reorganization Items	23	0	23	0
Total expenses	1,876	2,467	4,160	4,722
Income (loss) before income taxes	(1,044)	44	(1,405)	(104)
Income tax (provision) benefit	192	(4)	196	(3)
Net income (loss)	(852)	40	(1,209)	(107)
Net (income) loss attributable to noncontrolling interests	5	(2)	6	(1)
Net income (loss) attributable to Hertz	$ (847)	$ 38	$ (1,203)	$ (108)
Weighted-average shares outstanding:
Basic (in shares)	144	96	143	96
Diluted (in shares)	144	97	143	96
Earnings (loss) per share:
Basic earnings (loss) per share (in dollars per share)	$ (5.86)	$ 0.40	$ (8.39)	$ (1.13)
Diluted earnings (loss) per share (in dollars per share)	$ (5.86)	$ 0.40	$ (8.39)	$ (1.13)
U.S. Rental Car
Expenses:
Impairment charge	$ 193	$ 0	$ 193	$ 0
Vehicles
Expenses:
Total interest expense, net	132	127	250	238
Non-vehicle
Expenses:
Total interest expense, net	44	72	101	144
Contractual Interest	22
The Hertz Corporation
Revenues:
Worldwide vehicle rental	668	2,344	2,417	4,297
All other operations	164	167	338	321
Total revenues	832	2,511	2,755	4,618
Expenses:
Direct vehicle and operating	704	1,388	1,945	2,655
Depreciation of revenue earning vehicles and lease charges	610	634	1,286	1,226
Selling, general and administrative	168	258	377	490
Total interest expense, net	175	197	349	379
Write-off of intercompany loan	(133)	0	(133)	0
Other (income) expense, net	2	(12)	(15)	(31)
Reorganization Items	23	0	23	0
Total expenses	2,008	2,465	4,291	4,719
Income (loss) before income taxes	(1,176)	46	(1,536)	(101)
Income tax (provision) benefit	219	(5)	224	(4)
Net income (loss)	(957)	41	(1,312)	(105)
Net (income) loss attributable to noncontrolling interests	5	(2)	6	(1)
Net income (loss) attributable to Hertz	(952)	39	(1,306)	(106)
The Hertz Corporation | U.S. Rental Car
Expenses:
Impairment charge	193	0	193	0
The Hertz Corporation | Vehicles
Expenses:
Total interest expense, net	132	127	250	238
The Hertz Corporation | Non-vehicle
Expenses:
Total interest expense, net	43	$ 70	$ 99	$ 141
Contractual Interest	$ 22

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net income (loss)	$ (852)	$ 40	$ (1,209)	$ (107)
Other comprehensive income (loss):
Foreign currency translation adjustments	15	(5)	(26)	3
Net gain (loss) on defined benefit pension plans	(15)	1	(14)	0
Reclassification to other (income) expense for amortization of actuarial (gains) losses on defined benefit pension plans	4	2	5	3
Total other comprehensive income (loss) before income taxes	4	(2)	(35)	6
Income tax (provision) benefit related to net gains and losses on defined benefit pension plans	4	0	4	0
Income tax (provision) benefit related to reclassified amounts of net periodic costs on defined benefit pension plans	(1)	0	(1)	(1)
Other comprehensive income (loss)	7	(2)	(32)	5
Total comprehensive income (loss)	(845)	38	(1,241)	(102)
Comprehensive (income) loss attributable to noncontrolling interests	5	(2)	6	(1)
Comprehensive income (loss) attributable to Hertz Global	(840)	36	(1,235)	(103)
The Hertz Corporation
Net income (loss)	(957)	41	(1,312)	(105)
Other comprehensive income (loss):
Foreign currency translation adjustments	15	(5)	(26)	3
Net gain (loss) on defined benefit pension plans	(15)	1	(14)	0
Reclassification to other (income) expense for amortization of actuarial (gains) losses on defined benefit pension plans	4	2	5	3
Total other comprehensive income (loss) before income taxes	4	(2)	(35)	6
Income tax (provision) benefit related to net gains and losses on defined benefit pension plans	4	0	4	0
Income tax (provision) benefit related to reclassified amounts of net periodic costs on defined benefit pension plans	(1)	0	(1)	(1)
Other comprehensive income (loss)	7	(2)	(32)	5
Total comprehensive income (loss)	(950)	39	(1,344)	(100)
Comprehensive (income) loss attributable to noncontrolling interests	5	(2)	6	(1)
Comprehensive income (loss) attributable to Hertz Global	$ (945)	$ 37	$ (1,338)	$ (101)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY - USD ($) $ in Millions	Total	The Hertz Corporation	Stockholders' Equity Attributable to Hertz Global	Stockholders' Equity Attributable to Hertz GlobalThe Hertz Corporation	Preferred Stock Shares	Common Stock Shares	Common Stock SharesThe Hertz Corporation	Additional Paid-In Capital	Additional Paid-In CapitalThe Hertz Corporation	Due From AffiliateThe Hertz Corporation	Accumulated Deficit		Accumulated DeficitThe Hertz Corporation	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss)The Hertz Corporation	Treasury Stock	Non- controlling Interests	Non- controlling InterestsThe Hertz Corporation
Beginning Balance (Shares) at Dec. 31, 2018					0	84,000,000	100,000,000									2,000,000
Beginning Balance at Dec. 31, 2018	$ 1,120	$ 1,118	$ 1,061	$ 1,059		$ 1	$ 0	$ 2,261	$ 3,187	$ (52)	$ (909)	[1]	$ (1,884)	$ (192)	$ (192)	$ (100)	$ 59	$ 59
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(148)	(146)	(147)	(145)							(147)	[1]	(145)				(1)	(1)
Due from Hertz Holdings		(4)		(4)						(4)
Other comprehensive income (loss)	7	7	7	7										7	7
Net settlement on vesting of restricted stock	(2)		(2)					(2)
Stock-based compensation charges	3	3	3	3				3	3
Contributions from noncontrolling interests	25	25															25	25
Ending Balance (Shares) at Mar. 31, 2019					0	84,000,000	100,000,000									2,000,000
Ending Balance at Mar. 31, 2019	1,005	1,003	922	920		$ 1	$ 0	2,262	3,190	(56)	(1,056)	[1]	(2,029)	(185)	(185)	$ (100)	83	83
Beginning Balance (Shares) at Dec. 31, 2018					0	84,000,000	100,000,000									2,000,000
Beginning Balance at Dec. 31, 2018	1,120	1,118	1,061	1,059		$ 1	$ 0	2,261	3,187	(52)	(909)	[1]	(1,884)	(192)	(192)	$ (100)	59	59
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(107)	(105)
Write-off of intercompany loan	0	0
Other comprehensive income (loss)	5	5
Ending Balance (Shares) at Jun. 30, 2019					0	84,000,000	100,000,000									2,000,000
Ending Balance at Jun. 30, 2019	1,070	1,066	964	960		$ 1	$ 0	2,267	3,195	(58)	(1,017)	[1]	(1,990)	(187)	(187)	$ (100)	106	106
Beginning Balance (Shares) at Mar. 31, 2019					0	84,000,000	100,000,000									2,000,000
Beginning Balance at Mar. 31, 2019	1,005	1,003	922	920		$ 1	$ 0	2,262	3,190	(56)	(1,056)	[1]	(2,029)	(185)	(185)	$ (100)	83	83
Increase (Decrease) in Stockholders' Equity
Net income (loss)	40	41	39	39							39	[1]	39				2	2
Due from Hertz Holdings		(2)		(2)						(2)
Write-off of intercompany loan		0
Other comprehensive income (loss)	(2)	(2)	(2)	(2)										(2)	(2)
Stock-based compensation charges	5	5	5	5				5	5
Net Income (Loss), Including adjustments	41
Contributions from noncontrolling interests	21	21															21	21
Ending Balance (Shares) at Jun. 30, 2019					0	84,000,000	100,000,000									2,000,000
Ending Balance at Jun. 30, 2019	1,070	1,066	964	960		$ 1	$ 0	2,267	3,195	(58)	(1,017)	[1]	(1,990)	(187)	(187)	$ (100)	106	106
Increase (Decrease) in Stockholders' Equity
Liabilities subject to compromise	0	0
Beginning Balance (Shares) at Dec. 31, 2019					0	142,000,000	100,000,000									2,000,000
Beginning Balance at Dec. 31, 2019	1,888	1,884	1,769	1,765		$ 1	$ 0	3,024	3,955	(64)	(967)		(1,937)	(189)	(189)	$ (100)	119	119
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(357)	(356)	(356)	(355)							(356)		(355)				(1)	(1)
Due from Hertz Holdings		(3)		(3)						(3)
Other comprehensive income (loss)	(39)	(39)	(39)	(39)										(39)	(39)
Net settlement on vesting of restricted stock	(2)		(2)					(2)
Contributions from noncontrolling interests	1	1															1	1
Ending Balance (Shares) at Mar. 31, 2020					0	142,000,000	100,000,000									2,000,000
Ending Balance at Mar. 31, 2020	1,491	1,487	1,372	1,368		$ 1	$ 0	3,022	3,955	(67)	(1,323)		(2,292)	(228)	(228)	$ (100)	119	119
Beginning Balance (Shares) at Dec. 31, 2019					0	142,000,000	100,000,000									2,000,000
Beginning Balance at Dec. 31, 2019	1,888	1,884	1,769	1,765		$ 1	$ 0	3,024	3,955	(64)	(967)		(1,937)	(189)	(189)	$ (100)	119	119
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(1,209)	(1,312)
Write-off of intercompany loan	133	(133)
Other comprehensive income (loss)	(32)	(32)
Ending Balance (Shares) at Jun. 30, 2020					0	156,000,000	100,000,000									2,000,000
Ending Balance at Jun. 30, 2020	673	603	559	489		$ 2	$ 0	3,048	3,953	0	(2,170)		(3,243)	(221)	(221)	$ (100)	114	114
Beginning Balance (Shares) at Mar. 31, 2020					0	142,000,000	100,000,000									2,000,000
Beginning Balance at Mar. 31, 2020	1,491	1,487	1,372	1,368		$ 1	$ 0	3,022	3,955	(67)	(1,323)		(2,292)	(228)	(228)	$ (100)	119	119
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(852)	(957)	(847)	(951)							(847)		(951)				(5)	(5)
Due from Hertz Holdings		(1)		(1)						(1)
Liabilities Subject to Compromise, Increase (Decrease) under Bankruptcy Court Order, Reclassifications		(65)		(65)						(65)
Write-off of intercompany loan		(133)		(133)						(133)
Other comprehensive income (loss)	7	7	7	7										7	7
Stock-based compensation charges	(2)	(2)	(2)	(2)				(2)	(2)
Stock issued (in shares)						14,000,000
Stock Issued During Period, Value, New Issues	29		29			$ 1		28
Net Income (Loss), Including adjustments		956
Ending Balance (Shares) at Jun. 30, 2020					0	156,000,000	100,000,000									2,000,000
Ending Balance at Jun. 30, 2020	673	603	$ 559	$ 489		$ 2	$ 0	$ 3,048	$ 3,953	$ 0	$ (2,170)		$ (3,243)	$ (221)	$ (221)	$ (100)	$ 114	$ 114
Increase (Decrease) in Stockholders' Equity
Liabilities subject to compromise	$ 4,912	$ 4,977
[1]	Net income (loss) is computed independently each quarter. As a result, the quarter amounts presented herein may be rounded to agree to accumulated deficit in the accompanying unaudited condensed consolidated balance sheet.

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities:
Net income (loss)	$ (1,209)	$ (107)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles	1,393	1,329
Depreciation and amortization, non-vehicle	110	99
Amortization of deferred financing costs and debt discount (premium)	26	26
Stock-based compensation charges	(2)	8
Provision for receivables allowance	32	23
Write-off of intercompany loan	133	0
Deferred income taxes, net	(205)	(13)
Technology-related intangible and other asset impairments	193	0
(Gain) loss on marketable securities	0	(20)
(Gain) loss on sale of non-vehicle capital assets	(24)	(12)
(Gain) loss on derivatives	(4)	(10)
Other	7	0
Changes in assets and liabilities:
Non-vehicle receivables	287	(316)
Prepaid expenses and other assets	(4)	(90)
Operating lease right-of-use assets	189	200
Non-vehicle accounts payable	168	65
Accrued liabilities	(61)	57
Accrued taxes, net	(20)	29
Operating lease liabilities	(195)	(211)
Self-insured liabilities	(55)	(3)
Net cash provided by (used in) operating activities	626	1,054
Cash flows from investing activities:
Revenue earning vehicles expenditures	(4,956)	(8,947)
Proceeds from disposal of revenue earning vehicles	5,005	4,212
Non-vehicle capital asset expenditures	(72)	(118)
Proceeds from non-vehicle capital assets disposed of or to be disposed of	50	21
Sales of marketable securities	74	0
Other	(1)	0
Net cash provided by (used in) investing activities	100	(4,832)
Cash flows from financing activities:
Payment of financing costs	(11)	(23)
Proceeds from the issuance of stock, net	29	0
Contributions from noncontrolling interests	0	45
Other	(2)	(4)
Net cash provided by (used in) financing activities	222	3,023
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	3	(1)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	951	(756)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	1,360	1,410
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	2,311	654
Cash paid during the period for:
Income taxes, net of refunds	3	15
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives	43	567
Sales of revenue earning vehicles included in vehicle receivables	759	296
Purchases of non-vehicle capital assets included in accounts payable	4	46
Purchases of non-vehicle capital assets included in liabilities subject to compromise	31	0
Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	4,174	8,267
Repayments of debt	(4,613)	(5,254)
Cash paid during the period for:
Interest, net of amounts capitalized:	193	213
Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	1,498	815
Repayments of debt	(853)	(823)
Cash paid during the period for:
Interest, net of amounts capitalized:	67	140
The Hertz Corporation
Cash flows from operating activities:
Net income (loss)	(1,312)	(105)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles	1,393	1,329
Depreciation and amortization, non-vehicle	110	99
Amortization of deferred financing costs and debt discount (premium)	26	26
Stock-based compensation charges	(2)	8
Provision for receivables allowance	32	23
Write-off of intercompany loan	(133)	0
Deferred income taxes, net	(232)	(12)
Technology-related intangible and other asset impairments	193	0
(Gain) loss on marketable securities	0	(20)
(Gain) loss on sale of non-vehicle capital assets	(24)	(12)
(Gain) loss on derivatives	(4)	(10)
Other	7	0
Changes in assets and liabilities:
Non-vehicle receivables	287	(316)
Prepaid expenses and other assets	(4)	(90)
Operating lease right-of-use assets	189	200
Non-vehicle accounts payable	168	65
Accrued liabilities	(61)	57
Accrued taxes, net	(20)	29
Operating lease liabilities	(195)	(211)
Self-insured liabilities	(55)	(3)
Net cash provided by (used in) operating activities	629	1,057
Cash flows from investing activities:
Revenue earning vehicles expenditures	(4,956)	(8,947)
Proceeds from disposal of revenue earning vehicles	5,005	4,212
Non-vehicle capital asset expenditures	(72)	(118)
Proceeds from non-vehicle capital assets disposed of or to be disposed of	50	21
Sales of marketable securities	74	0
Other	(1)	0
Net cash provided by (used in) investing activities	100	(4,832)
Cash flows from financing activities:
Payment of financing costs	(11)	(23)
Advances to Hertz Holdings	(4)	(6)
Contributions from noncontrolling interests	0	45
Other	(1)	(1)
Net cash provided by (used in) financing activities	190	3,020
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	3	(1)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	922	(756)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	1,360	1,410
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	2,282	654
Cash paid during the period for:
Income taxes, net of refunds	3	15
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives	43	567
Purchases of non-vehicle capital assets included in accounts payable	4	46
Purchases of non-vehicle capital assets included in liabilities subject to compromise	31	0
The Hertz Corporation | Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	4,174	8,267
Repayments of debt	(4,613)	(5,254)
Cash paid during the period for:
Interest, net of amounts capitalized:	193	213
Supplemental disclosures of non-cash information:
Sales of revenue earning vehicles included in vehicle receivables	759	296
The Hertz Corporation | Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	1,498	815
Repayments of debt	(853)	(823)
Cash paid during the period for:
Interest, net of amounts capitalized:	$ 67	$ 140

Background

Background	6 Months Ended
	Jun. 30, 2020
Background Disclosure [Abstract]
Background	Background Hertz Global Holdings, Inc. ("Hertz Global" when including its subsidiaries and VIEs and "Hertz Holdings" when excluding its subsidiaries and VIEs) was incorporated in Delaware in 2015 to serve as the top-level holding company for Rental Car Intermediate Holdings, LLC, which wholly owns The Hertz Corporation ("Hertz" and interchangeably with Hertz Global, the "Company"), Hertz Global's primary operating company. Hertz was incorporated in Delaware in 1967 and is a successor to corporations that have been engaged in the vehicle rental and leasing business since 1918. Hertz operates its vehicle rental business globally primarily through the Hertz, Dollar and Thrifty brands from company-owned, licensee and franchisee locations in the United States ("U.S."), Africa, Asia, Australia, Canada, the Caribbean, Europe, Latin America, the Middle East and New Zealand. Through its Donlen subsidiary, Hertz provides vehicle leasing and fleet management services. Voluntary Petitions for Bankruptcy In connection with the expiration of the Forbearance Agreement and the Waiver Agreements described above and the continuing economic impact from COVID-19, on May 22, 2020 (the "Petition Date"), Hertz Global, Hertz and certain of their direct and indirect subsidiaries in the U.S. and Canada (collectively the "Debtors" and the "Debtors- in-Possession") filed voluntary petitions for relief (collectively, the "Petitions") under chapter 11 of title 11 ("Chapter 11") of the U.S. Bankruptcy Code (the "Bankruptcy Code") in the U.S. Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). The Chapter 11 cases (the "Chapter 11 Cases") are being jointly administered under the caption In re: the Hertz Corporation, et al., Case No. 20-11218 (MFW) . Additional information about the Chapter 11 Cases, including access to documents filed with the Bankruptcy Court, is available online at https://restructuring.primeclerk.com/hertz, a website administered by Prime Clerk, LLC ("Prime Clerk"), a third-party bankruptcy claims and noticing agent. The information on this web site is not incorporated by reference and does not constitute part of this Form 10-Q. The Bankruptcy Court has approved motions filed by the Debtors that were designed primarily to mitigate the impact of the Chapter 11 Cases on the Company’s operations, customers and employees. The Debtors are authorized to conduct their business activities in the ordinary course, and pursuant to orders entered by the Bankruptcy Court, the Debtors are authorized to, among other things and subject to the terms and conditions of such orders: (i) pay employees’ wages and related obligations; (ii) pay certain taxes; (iii) pay critical vendors and certain fees to airport authorities; (iv) continue to maintain certain customer programs; (v) maintain their insurance program; (vi) use cash collateral on an interim basis; and (vii) continue their cash management system. On July 24, 2020, the Bankruptcy Court entered an order related to the Operating Lease (the "Interim Lease Order") which, among other things, directed the Debtors to: (i) make $650 million of base rent payments under the Operating Lease to the HVF trustee in the amount of six equal monthly payments of approximately $108 million commencing in July 2020 through December 2020; (ii) dispose of at least 182,521 lease vehicles between June 1, 2020 and December 31, 2020, inclusive, where the proceeds of the dispositions, subject to certain exclusions set forth in the Interim Lease Order, will be used to make payments under the Master Lease; and (iii) fund interest payments on the Master Lease from draws on certain existing letters of credit, which are reimbursable by the Debtors. For the period from June 1, 2020 through July 31, 2020, the Company disposed of approximately 100,000 vehicles which are associated with the Interim Order. Debtors-In-Possession The Debtors are currently operating as debtors-in-possession under the jurisdiction of the Bankruptcy Court and in accordance with the applicable provisions of the Bankruptcy Code and orders of the Bankruptcy Court. In general, as debtors-in-possession under the Bankruptcy Code, the Debtors are authorized to continue to operate as an ongoing business but may not engage in transactions outside the ordinary course of business without the prior approval of the Bankruptcy Court. Automatic Stay Subject to certain specific exceptions under the Bankruptcy Code, the Petitions automatically stayed most judicial or administrative actions against the Debtors and efforts by creditors to collect on or otherwise exercise rights or remedies with respect to obligations of the Debtors incurred prior to the Petition Date ("Pre-petition"). Absent an order from the Bankruptcy Court, substantially all of the Debtors’ Pre-petition liabilities are subject to settlement under the Bankruptcy Code. Borrowing Capacity and Availability The filing of the Chapter 11 Cases constituted defaults, termination events and/or amortization events with respect to certain of the Company's existing debt obligations. As a result of the filing of the Chapter 11 Cases, the remaining capacity under almost all of the Company's revolving credit facilities was terminated, as disclosed in Note 5, "Debt." Consequently, the proceeds of sales of vehicles which serve as collateral for such vehicle finance facilities must be applied to the payment of the related indebtedness of the Non-Debtor Financing Subsidiaries (as defined in Note 5, "Debt") and are not otherwise available to fund the Company’s operations. Additionally, the Company is precluded from accessing any of its subordinated investment in the vehicle collateral until the related defaults are waived or the third party funding under those facilities has been retired, either through the monetization of the underlying collateral or the refinancing of the related indebtedness. Additionally, proceeds from vehicle receivables, excluding manufacturer rebates, as of June 30, 2020 and ongoing vehicle sales must be applied to vehicle debt in amortization. The Company currently has waivers related to the filing of the Chapter 11 Cases under its European Vehicle Notes, European ABS and U.K. Fleet Financing facility that expire on September 30, 2020, as disclosed in Note 5, "Debt." The Company's inability to access its Senior RCF facility or retain any proceeds from the sale of vehicles under its U.S. ABS programs means that its source of liquidity is almost entirely its cash and cash equivalents on hand and cash generated from its operations. As of June 30, 2020, the Company had $1.4 billion of unrestricted cash and cash equivalents which the Company believes will be sufficient to fund its operations through approximately December 31, 2020, assuming it does not experience any unforeseen liquidity needs before then, which could result in the utilization of the liquidity in advance of December 31, 2020. The Company believes, however, that if, among other things, (i) it cannot successfully extend the international vehicle debt waivers that expire on September 30, 2020, as disclosed in Note 5, "Debt," (ii) it cannot successfully implement a plan of reorganization, and (iii) there is not a significant recovery in the economic conditions in its major markets, its available cash and cash equivalents and cash generated by its operations will not be sufficient to fund operating requirements for the next twelve months. Consequently, the Debtors are seeking debtor-in-possession financing and pursuing vehicle financing for certain of their operations, either through waivers on existing facilities or entering into new arrangements to fund vehicles and vehicle leases, to supplement their sources of funding. Going Concern The accompanying unaudited condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern and contemplate the realization of assets and the satisfaction of liabilities in the normal course of business. The Company’s ability to continue as a going concern is contingent upon its ability to successfully implement a plan of reorganization, among other factors, and the realization of assets and the

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Pronouncements	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Recently Issued Accounting Pronouncements	Basis of Presentation and Recently Issued Accounting Pronouncements Basis of Presentation This Quarterly Report on Form 10-Q combines the quarterly reports on Form 10-Q for the quarterly period ended June 30, 2020 of Hertz Global and Hertz. Hertz Global consolidates Hertz for financial statement purposes, therefore, disclosures that relate to activities of Hertz also apply to Hertz Global. In the sections that combine disclosure of Hertz Global and Hertz, this report refers to actions as being actions of the Company, or Hertz Global, which is appropriate because the business is one enterprise and Hertz Global operates the business through Hertz. When appropriate, Hertz Global and Hertz are named specifically for their individual disclosures and any significant differences between the operations and results of Hertz Global and Hertz are separately disclosed and explained. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”). In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. Effective on the Petition date, the Company applied accounting standards applicable to reorganizations, Accounting Standards Codification 852 - Reorganizations, in preparing the accompanying condensed consolidated financial statements as of and for the three and six months ended June 30, 2020 which requires the financial statements, for periods subsequent to the commencement of the Chapter 11 Cases, to distinguish transactions and events that are directly associated with the reorganization from the ongoing operations of the business. Accordingly, Pre-petition obligations of the Debtors that may be impacted by the Chapter 11 Cases have been classified as liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020. These liabilities are reported at the amounts the Company anticipates will be allowed by the Bankruptcy Court, even if they may be settled for lesser amounts. See Note 15, "Liabilities Subject to Compromise," for additional information. In addition, certain charges related to the Chapter 11 Cases are recorded as reorganization items, net in the accompanying unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2020. See Note 16, "Reorganization Items, Net," for additional information. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes. Actual results could differ materially from those estimates. The December 31, 2019 unaudited condensed consolidated balance sheet data is derived from the audited financial statements at that date but does not include all disclosures required by U.S. GAAP. The information included in this Quarterly Report on Form 10-Q should be read in conjunction with information included in the Company's Form 10-K for the year ended December 31, 2019 (the "2019 Form 10-K"), as filed with the Securities and Exchange Commission ("SEC") on February 25, 2020. Certain prior period amounts have been reclassified to conform to current period presentation. Principles of Consolidation The unaudited condensed consolidated financial statements of Hertz Global include the accounts of Hertz Global, its wholly owned and majority owned U.S. and international subsidiaries and its VIEs, as applicable. The unaudited condensed consolidated financial statements of Hertz include the accounts of Hertz, its wholly owned and majority owned U.S. and international subsidiaries and its VIEs, as applicable. The Company consolidates a VIE when it is deemed the primary beneficiary of the VIE. The Company accounts for its investment in joint ventures using the equity method when it has significant influence but not control and is not the primary beneficiary of the joint venture. All significant intercompany transactions have been eliminated in consolidation. Recently Issued Accounting Pronouncements Adopted Measurement of Credit Losses on Financial Instruments In June 2016, the Financial Accounting Standards Board (the "FASB") issued guidance that sets forth a current expected credit loss impairment model for financial assets, which replaces the current incurred loss model, and issued amendments and updates to the new standard in 2018 and 2019. This model requires a financial asset (or group of financial assets), including trade receivables, measured at amortized cost to be presented at the net amount expected to be collected with an allowance for credit losses deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The Company adopted this guidance when effective, on January 1, 2020, using a modified retrospective transition method. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows. Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement In August 2018, the FASB issued guidance on a customer's accounting for implementation fees paid in a cloud computing service contract arrangement that addresses which implementation costs to capitalize as an asset and which costs to expense. Capitalized implementation fees are to be expensed over the term of the cloud computing arrangement, and the expense is required to be recognized in the same line item in the income statement as the associated hosting service expenses. The entity is also required to present the capitalized implementation fees on the balance sheet in the same line item as the prepayment for hosting service fees associated with the cloud computing arrangement. The Company adopted this guidance when effective, on January 1, 2020, using a prospective transition method. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows. The Company has hosting arrangements in connection with its Enterprise Resource Planning systems. Prior to the adoption of this guidance, the Company capitalized certain implementation costs for its hosting arrangements in intangible assets, net, in the accompanying unaudited condensed consolidated balance sheet as of December 31, 2019. Subsequent to the adoption of this guidance on January 1, 2020, the Company records implementation fees incurred in connection with its hosting arrangements in prepaid expenses and other assets in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020. Not Yet Adopted Simplifying the Accounting for Income Taxes In December 2019, the FASB issued guidance that simplifies the accounting for income taxes by removing certain exceptions in existing guidance and improves consistency in application by clarifying and amending existing guidance. This guidance is effective for annual periods beginning after December 15, 2020, and interim periods within those annual periods, where the transition method varies depending upon the specific amendment. Early adoption is permitted, including adoption in any interim period. An entity that elects to early adopt the amendments in an interim period should reflect any adjustments as of the beginning of the annual period that includes that interim period, and all amendments must be adopted in the same period. The Company is in the process of assessing the overall impact of adopting this guidance on its financial position, results of operations and cash flows. Facilitation of the Effects of Reference Rate Reform In March 2020, the FASB issued guidance that provides optional expedients and exceptions for contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform initiatives. This guidance is effective beginning March 12, 2020 through December 31, 2022 where the transition method varies depending upon the specific expedient or exception. The Company is in the process of assessing the available expedients and exceptions and, if applicable, the method and timing of adoption.

Divestitures

Divestitures	6 Months Ended
	Jun. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
Divestitures	Divestitures Sale of Non-vehicle Capital Assets During the first quarter of 2020, the Company received additional cash from the sale of certain non-vehicle capital assets in its U.S. Rental Car segment, which was completed in the fourth quarter of 2019, and recognized an additional $20 million pre-tax gain on the sale, which is included in other (income) expense, net in the accompanying unaudited condensed consolidated statement of operations for the six months ended June 30, 2020. Sale of Marketable Securities During the first quarter of 2020, the Company sold marketable securities for $74 million and recognized an immaterial gain on the sale in its corporate operations, which is included in other (income) expense, net in the accompanying unaudited condensed consolidated statement of operations for the six months ended June 30, 2020.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets, Net Technology-related Intangible and Other Assets Due to uncertainty surrounding the Company's financial ability to complete certain information technology projects as a result of COVID-19 and the filing of the Chapter 11 Cases as disclosed in Note 1, "Background," the Company concluded that there was an impairment of such technology-related intangible assets and capitalized cloud computing implementation costs. The Company recorded an impairment charge of $193 million in its corporate operations, representing a full impairment of the carrying value of such assets as of June 30, 2020 of $124 million and $69 million of technology-related intangible assets and other assets, respectively. Recoverability of Goodwill and Indefinite-lived Intangible Assets As of June 30, 2020, the Company tested the recoverability of its goodwill and indefinite-lived intangible assets due to the impact related to COVID-19, the Company's reduction in cash flow projections and declines in the stock price of Hertz Global. The quantitative fair value test utilized the Company's most recent cash flow projections, including a range of potential outcomes, along with a long-term growth rate of 1% and a range of discount rates between 12.5% and 13.0%. Based on the quantitative tests, no impairments were recorded in the second quarter of 2020. However, the fair values of tradenames, which are indefinite-lived intangible assets, in the Company's U.S. RAC and International RAC segments were in excess by 3% and 18% of the carrying values of $934 million and $560 million, respectively. Subsequent to June 30, 2020, the adverse impact from COVID-19 to the overall travel industry and the Company's business has continued. If there is further deterioration in cash flow projections, the Company's ability to obtain future financing to maintain its fleet or the weighted average cost of capital assumptions used in the impairment

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt The Company's debt, including its available credit facilities, consists of the following ($ in millions): Facility Weighted-Average Interest Rate Fixed or Maturity June 30, December 31, Non-Vehicle Debt Senior Term Loan (1) Floating 6/2023 $ — $ 660 Senior RCF (1) Floating 6/2021 — — Senior Notes (1)(2) Fixed 10/2022-1/2028 — 2,700 Senior Second Priority Secured Notes (1) Fixed 6/2022 — 350 Promissory Notes (1) Fixed 1/2028 — 27 Alternative Letter of Credit Facility 3.25% Floating 11/2023 36 — Senior RCF Letter of Credit Facility 3.25% Floating 6/2021 2 — Other Non-Vehicle Debt 6.75% Fixed Various 20 18 Unamortized Debt Issuance Costs and Net (Discount) Premium — (34) Total Non-Vehicle Debt Not Subject to Compromise 58 3,721 Non-Vehicle Debt Subject to Compromise Senior Term Loan 3.51% Floating 6/2023 656 — Senior RCF 4.08% Floating 6/2021 615 — Senior Notes (2) 6.11% Fixed 10/2022-1/2028 2,700 — Senior Second Priority Secured Notes 7.63% Fixed 6/2022 350 — Promissory Notes 7.00% Fixed 1/2028 27 — Unamortized Debt Issuance Costs and Net (Discount) Premium (36) — Total Non-Vehicle Debt Subject to Compromise 4,312 — Vehicle Debt HVF II U.S. ABS Program HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A (3)(6) 3.46% Floating 3/2022 4,148 2,644 4,148 2,644 HVF II U.S. Vehicle Medium Term Notes HVF II Series 2015-1 (3) N/A Fixed 3/2020 — 780 HVF II Series 2015-3 (3) 3.17% Fixed 9/2020 319 371 HVF II Series 2016-2 (3) 3.48% Fixed 3/2021 512 595 HVF II Series 2016-4 (3) 3.16% Fixed 7/2021 365 424 HVF II Series 2017-1 (3) 3.45% Fixed 10/2020 387 450 HVF II Series 2017-2 (3) 3.82% Fixed 10/2022 318 350 Facility Weighted-Average Interest Rate Fixed or Maturity June 30, December 31, HVF II Series 2018-1 (3) 3.58% Fixed 2/2023 910 1,000 HVF II Series 2018-2 (3) 3.99% Fixed 6/2021 183 200 HVF II Series 2018-3 (3) 4.33% Fixed 7/2023 183 200 HVF II Series 2019-1 (3) 4.05% Fixed 3/2022 641 700 HVF II Series 2019-2 (3) 3.71% Fixed 5/2024 687 750 HVF II Series 2019-3 (3) 2.95% Fixed 12/2024 687 800 5,192 6,620 Donlen U.S. ABS Program HFLF Variable Funding Notes HFLF Series 2013-2 (4)(6) 6.10% Floating 7/2020-10/2022 475 286 475 286 HFLF Medium Term Notes HFLF Series 2016-1 (4) N/A Both 1/2020-2/2020 — 34 HFLF Series 2017-1 (4) 2.51% Both 7/2020-11/2022 139 229 HFLF Series 2018-1 (4) 2.59% Both 7/2020-11/2022 353 462 HFLF Series 2019-1 (4) 2.23% Both 7/2020-11/2022 552 650 1,044 1,375 Vehicle Debt - Other U.S. Vehicle RCF 5.73% Floating 6/2021 93 146 European Vehicle Notes (5) 5.07% Fixed 10/2021-3/2023 813 810 European ABS (3) 1.60% Floating 11/2021 624 766 Hertz Canadian Securitization (3)(6) 3.73% Floating 3/2021 170 241 Donlen Canadian Securitization (3) 2.31% Floating 12/2022 25 24 Australian Securitization (3) 1.74% Floating 6/2021 137 177 New Zealand RCF 2.93% Floating 6/2021 45 50 U.K. Financing Facility 3.05% Floating 7/2020-2/2023 210 247 Other Vehicle Debt 3.61% Floating 7/2020-11/2024 23 29 2,140 2,490 Unamortized Debt Issuance Costs and Net (Discount) Premium (75) (47) Total Vehicle Debt Not Subject to Compromise 12,924 13,368 Total Debt Not Subject to Compromise $ 12,982 $ 17,089 N/A - Not applicable (1) As a result of filing the Chapter 11 Cases, certain debt was classified as liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020. The weighted-average interest rate for such debt is disclosed in subsequent rows under "non-vehicle debt subject to compromise". (2) References to the "Senior Notes" include the series of Hertz's unsecured senior notes set forth in the table below which are included in liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020. Outstanding principal amounts for each such series of the Senior Notes is also specified below: (In millions) Outstanding Principal Senior Notes June 30, 2020 December 31, 2019 6.250% Senior Notes due October 2022 500 500 5.500% Senior Notes due October 2024 800 800 7.125% Senior Notes due August 2026 500 500 6.000% Senior Notes due January 2028 900 900 $ 2,700 $ 2,700 (3) Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness originally expected the outstanding principal of the relevant indebtedness to be repaid in full. The legal final maturity date is the date on which the outstanding principal of the relevant indebtedness is legally due and payable in full. The expected maturity of debt under amortization, as described below, is based upon the sale of the underlying vehicles or the refinancing of the current debt. (4) In the case of the Hertz Fleet Lease Funding LP ("HFLF") Medium Term Notes, such notes are repayable from cash flows derived from third-party leases comprising the underlying HFLF collateral pool. As a result of the Chapter 11 Cases and the resulting amortization events, as described below, the revolving period for all series were terminated, and are amortizing monthly by an amount equal to the lease collections payable to that series and the maturity date referenced for each series of HFLF Medium Term Notes represents the date by which Hertz expects such series of notes to be repaid in full, which is based upon the contractual amortization of the underlying leases as well as the assumed rate of prepayments of such leases. Such maturity reference is to the “expected final maturity date” as opposed to the subsequent “legal final maturity date.” The legal final maturity date is the date on which the relevant indebtedness is legally due and payable. Although the underlying lease cash flows that support the repayment of the HFLF Medium Term Notes may vary, the cash flows generally are expected to approximate a straight-line amortization of the related notes from the initial maturity date through the expected final maturity date. (5) References to the "European Vehicle Notes" include the series of Hertz Holdings Netherlands B.V.'s, an indirect wholly-owned subsidiary of Hertz organized under the laws of the Netherlands, unsecured senior notes (converted from Euros to U.S. dollars at a rate of 1.12 to 1 as of June 30, 2020 and December 31, 2019, respectively), set forth in the table below. Outstanding principal amounts for each such series of the European Vehicle Notes is also specified below: (In millions) Outstanding Principal European Vehicle Notes June 30, 2020 December 31, 2019 4.125% Senior Notes due October 2021 $ 252 $ 251 5.500% Senior Notes due March 2023 561 559 $ 813 $ 810 (5) Includes default interest which is comprised of an increase in the contractual spread and may also include a change in the benchmark rate from the U.S. Dollar LIBOR rate to the prime rate. Chapter 11 As a result of filing the Chapter 11 Cases, as disclosed in Note 1, "Background," the Company reclassified certain of its non-vehicle debt instruments, net of deferred financing costs, discounts and premiums, as applicable, to liabilities subject to compromise in the accompanying condensed consolidated balance sheet as of June 30, 2020. The Company has suspended accruing and paying interest and amortizing deferred financing costs, discounts and premiums, as applicable, on the Senior Notes and Promissory Notes, as of the Petition Date. The Company is continuing to pay in cash an amount equal to the monthly interest at the non-default rate during the months of July and August for the Senior Term Loan, Senior RCF and the U.S. Vehicle RCF and has suspended amortizing the associated deferred financing costs, discounts and premiums for the Senior Term Loan and Senior RCF, as applicable, as of the Petition Date. Additionally, the Company is continuing to pay in kind an amount equal to the monthly interest at the non-default rate for the Senior Second Priority Secured Notes during the months of July and August. The filing of the Chapter 11 Cases constituted an event of default that accelerated the Debtors’ obligations under the Senior Term Loan, the Senior RCF, the U.S. Vehicle RCF, the Letter of Credit Facility and the Alternative Letter of Credit Facility. Additionally, the filing triggered defaults, termination events and/or amortization events under certain obligations of (i) Hertz International Limited, Hertz Holdings Netherlands BV ("Hertz Netherlands") and the direct and indirect subsidiary companies located outside of the United States and Canada (collectively the "International Subsidiaries") (some of which were waived or amended, subject to certain time limitations, as disclosed further below), and (ii) HVF, HVF II, HFLF and certain other vehicle financing subsidiaries (collectively the "Non-Debtor Financing Subsidiaries"). Vehicle Debt HVF II U.S. ABS Program HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A Notes : In February 2020, HVF II extended the maturity of the Series 2013-A Notes from March 2021 to March 2022 and increased the commitments thereunder by $750 million. After giving effect to the transactions, the aggregate maximum principal amount of the Series 2013-A Notes was $4.9 billion, where $0.2 billion of commitments have a maturity of March 2021. As a result of the failure to make the full rent payments on April 27, 2020, an amortization event was in effect as of May 5, 2020 for all series of notes issued by HVF II and a liquidation event was in effect with respect to the Series 2013-A Notes issued by HVF II. As a result of the amortization event, proceeds from the sales of vehicles that collateralize the notes issued by HVF II must be primarily applied to the payment of principal and are allocated on what approximates a pro rata basis to the reduction of principal on the basis of seniority by class. As disclosed in Note 1, "Background," per the terms of the Interim Lease Order entered on July 24, 2020, the Debtors were directed, among other things, to make $650 million of base rent payments under the Operating Lease to the HVF trustee in the amount of six equal monthly payments of approximately $108 million commencing in July 2020 through December 2020. The parties have agreed to defer litigation related to the Master Lease until January 15, 2021. Interest is being paid on the HVF II Variable Funding Notes and the U.S. Vehicle Medium Term Notes from funds drawn on existing letter of credit facilities, as described below. HVF II U.S. Vehicle Medium Term Notes In March 2020, HVF II sold the below notes, which it had acquired at the time of the respective initial offerings and which were previously eliminated in consolidation, to third parties. (In millions) Aggregate Principal Amount HVF II Series 2017-2 Class D Notes $ 20 HVF II Series 2018-1 Class D Notes 58 HVF II Series 2018-2 Class D Notes 13 HVF II Series 2018-3 Class D Notes 13 HVF II Series 2019-1 Class D Notes 45 HVF II Series 2019-2 Class D Notes 49 Total $ 198 Donlen U.S. ABS Program HFLF Variable Funding Notes HFLF Series 2013-2 Notes : In February 2020, HFLF amended the HFLF Series 2013-2 Notes ("2013-2 Notes") to extend the end of the revolving period from March 2021 to March 2022 and increased the commitments thereunder by $100 million, such that the aggregate maximum borrowings of the 2013-2 Notes increased to $600 million. The filing of the Chapter 11 Cases triggered an amortization event under the HFLF Variable Funding Notes and the HFLF Medium Term Notes. As a result, the remaining commitments under the HFLF Series 2013-2 Notes were terminated and, while the amortization events continue, proceeds from lease payments and from the sales of vehicles that collateralize the notes issued by HFLF must be applied to the reduction of principal and payment of interest on the notes. The principal will be allocated on approximately a pro rata basis and distributed to the note holders on the basis of seniority by class. Vehicle Debt-Other The filing of the Chapter 11 Cases constituted defaults, termination events and/or amortization events with respect to certain of the Company's existing debt obligations, as described below. European Vehicle Notes Hertz Netherlands and certain other international subsidiaries entered into a limited waiver agreement in respect of the European Vehicle Notes pursuant to which the majority noteholders agreed to waive any default or event of default that could have resulted from the Chapter 11 Cases. This waiver agreement expires on September 30, 2020. European ABS An amortization event that would have arisen under the European ABS as a result of filing the Chapter 11 Cases was waived in May 2020 as International Fleet Financing No.2 B.V (“IFF No. 2”) entered into a waiver agreement which expires on September 30, 2020 such that the aggregate maximum borrowings were reduced from €1.1 billion to €600 million. Hertz Canadian Securitization The filing of the Chapter 11 Cases triggered an amortization event under the Hertz Canadian Securitization. As a result, the remaining committed available borrowings were terminated and proceeds from the sales of vehicles and receipt of vehicle receivables that collateralize the Hertz Canadian Securitization must be applied to the payment of principal. Donlen Canadian Securitization The filing of the Chapter 11 Cases triggered an event of default under the Donlen Canadian Securitization. In June 2020, Donlen entered into a waiver agreement under the Donlen Canadian Securitization with an expiration date of August 28, 2020 such that the aggregate maximum borrowings were reduced from CAD$50 million to CAD$37 million. Australian Securitization An amortization event that would have arisen under the Australian Securitization as a result of filing the Chapter 11 Cases was waived in May 2020 as HA Fleet Pty Limited, an indirect, wholly-owned subsidiary of Hertz, entered into a permanent waiver agreement under the Australian Securitization such that the aggregate maximum borrowing capacity was reduced from AUD$270 million to AUD$210 million. U.K. Financing Facility In April 2020, the aggregate maximum borrowing capacity under the U.K. Financing Facility was reduced from £250 million to £200 million as result of a downgrade in the credit rating of Hertz. Events of default that would have arisen under the U.K. Financing Facility as a result of filing the Chapter 11 Cases were waived in May 2020 as Hertz U.K. Limited entered into a waiver agreement under the U.K. Financing Facility with an expiration date of September 30, 2020. Borrowing Capacity and Availability Borrowing capacity and availability comes from the Company's "revolving credit facilities." As a result of the filing of the Chapter 11 Cases, almost all of the Company's "revolving credit facilities" were terminated, as disclosed in the following table. The remaining "revolving credit facilities" are a combination of cash-flow-based revolving credit facilities and asset-based revolving credit facilities. Creditors under each such asset-backed securitization facility and asset-based revolving credit facility have a claim on a specific pool of assets as collateral. With respect to each such asset-backed securitization facility and asset-based revolving credit facility, the Company refers to the amount of debt it can borrow given a certain pool of assets as the borrowing base. The Company refers to "Remaining Capacity" as the maximum principal amount of debt permitted to be outstanding under the respective facility (i.e., with respect to a variable funding asset-backed securitization facility or asset-based revolving credit facility, the amount of debt the Company could borrow assuming it possessed sufficient assets as collateral) less the principal amount of debt then-outstanding under such facility. With respect to a variable funding asset-backed securitization facility or asset-based revolving credit facility, the Company refers to "Availability Under Borrowing Base Limitation" as the lower of Remaining Capacity or the borrowing base less the principal amount of debt then-outstanding under such facility (i.e., the amount of debt that can be borrowed given the collateral possessed at such time). The following facilities were available to the Company as of June 30, 2020 and are presented net of any outstanding letters of credit: (In millions) Remaining Availability Under Non-Vehicle Debt Senior RCF (1) $ — $ — Letter of Credit Facility (1) — — Alternative Letter of Credit Facility (1) — — Total Non-Vehicle Debt — — Vehicle Debt U.S. Vehicle RCF (1) — — HVF II U.S. Vehicle Variable Funding Notes (1) — — HFLF Variable Funding Notes (1) — — European ABS 49 — Hertz Canadian Securitization (1) — — Donlen Canadian Securitization 2 — Australian Securitization 7 — U.K. Financing Facility 37 — New Zealand RCF 3 2 Total Vehicle Debt 98 2 Total $ 98 $ 2 (1) As a result of the filing of the Chapter 11 Cases, there is no longer remaining capacity or availability under these facilities, as such were terminated. Letters of Credit As of June 30, 2020, there were outstanding standby letters of credit totaling $746 million. Such letters of credit have been issued primarily to support the Company's insurance programs, vehicle rental concessions and leaseholds as well as to provide credit enhancement for its asset-backed securitization facilities. Of this amount, $240 million were issued under the Senior RCF, $299 million were issued under the Letter of Credit Facility and $200 million were issued under the Alternative Letter of Credit Facility. As of June 30, 2020, $2 million and $36 million of the issued letters of credit have been drawn upon under the Senior RCF and Alternative Letter of Credit Facility, respectively, to fund interest payments due under the HVF II Notes. These draws remain unreimbursed by the Company, and, except as otherwise set forth in orders from the Bankruptcy Court, as a result are accruing interest at the non-default rate. Special Purpose Entities Substantially all of the Company's revenue earning vehicles and certain related assets are owned by special purpose entities or are encumbered in favor of the lenders under the various credit facilities, other secured financings and asset-backed securities programs. None of the value of such assets (including the assets owned by Hertz Vehicle Financing II LP, HVF II GP Corp., Hertz Vehicle Financing LLC, Rental Car Finance LLC, HFLF and various international subsidiaries that facilitate the Company's international securitizations) will be available to satisfy the claims of unsecured creditors unless the secured creditors are paid in full. The Company has a 25% ownership interest in IFF No. 2, whose sole purpose is to provide commitments to lend in various currencies subject to borrowing bases comprised of revenue earning vehicles and related assets of certain of Hertz International, Ltd.'s subsidiaries. IFF No. 2 is a VIE and the Company is the primary beneficiary, therefore, the assets, liabilities and results of operations of IFF No. 2 are included in the accompanying unaudited condensed consolidated financial statements. As of June 30, 2020 and December 31, 2019, IFF No. 2 had total assets of $870 million and $1.1 billion, respectively, primarily comprised of loans receivable, and total liabilities of $870 million and $1.1 billion, respectively, primarily comprised of debt. Covenant Compliance Prior to the filing of the Chapter 11 Cases, the financial covenant provided that Hertz’s consolidated first lien net leverage ratio, as defined in the credit agreements governing the Senior RCF, the Letter of Credit Facility and the Alternative Letter of Credit Facility, as of the last day of any fiscal quarter may not exceed a ratio of 3.00 to 1.00 (the "Covenant Leverage Ratio"). As a result of the filing of the Chapter 11 Cases, the Company is currently in default under its Senior RCF, the Letter of Credit Facility and the Alternative Letter of Credit Facility.

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Leases	Leases The Company enters into certain agreements as a lessor under which it rents vehicles and leases fleets to customers. The Company's operating leases for vehicle rentals have rental periods that are typically short term (e.g., daily or weekly) and can generally be extended for up to one month or terminated at the customer's discretion. Rental charges are computed on a limited or unlimited mileage rate, or on a time rate plus a mileage charge. In connection with the vehicle rental, the Company offers supplemental equipment rentals (e.g., child seats and ski racks) which are deemed lease components. The Company also offers value-added services in connection with the vehicle rental, which are deemed non-lease components, such as loss or collision damage waiver, theft protection, liability and personal accident/effects insurance coverage, premium emergency roadside service and satellite radio. Additionally, the Company charges for variable services primarily consisting of tolls and refueling charges incurred during the rental period, and for fees associated with the early or late termination of the vehicle lease. The Company's operating leases for fleets have lease periods that are typically for twelve months, after which the lease converts to a month-to-month lease, allowing the vehicle to be surrendered any time thereafter. The Company's fleet leases contain a terminal rental adjustment clause which are considered variable charges. As a result of the impact from COVID-19 as disclosed in Note 1, "Background," the Company received rent concessions in the form of abatement and payment deferrals of fixed and variable rent payments for its airport and off-airport locations in the amount of $30 million and $33 million for the three and six months ended June 30, 2020, respectively, which represent amounts previously due in the period between March 1, 2020 and June 30, 2020. The Company elected to apply the accounting relief provided by the FASB and elected to not evaluate whether the concession is a modification. The Company will account for the concession as if it were part of the existing contract. The following table summarizes the amount of operating lease income and other income included in total revenues in the accompanying condensed consolidated statements of operations: Three Months Ended Six Months Ended (In millions) 2020 2019 2020 2019 Operating lease income from vehicle rentals $ 604 $ 2,208 $ 2,241 $ 4,041 Operating lease income from fleet leasing 161 168 330 326 Variable operating lease income 1 43 34 77 Revenue accounted for under Topic 842 766 2,419 2,605 4,444 Revenue accounted for under Topic 606 66 92 150 174 Total revenues $ 832 $ 2,511 $ 2,755 $ 4,618

Restructuring

Restructuring	3 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring Due to the impact from COVID-19 as disclosed in Note 1, "Background," the Company initiated a restructuring program, beginning in April 2020, affecting approximately 11,000 employees in its U.S. Rental Car segment and corporate operations and incurred approximately $37 million of charges for termination benefits during the second quarter of 2020, of which $7 million were classified as liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020 as disclosed below. This program is expected to be completed within the next twelve months. The following table summarizes restructuring charges under this program: (In millions) Three Months Ended Six Months Ended Termination charges: Direct vehicle and operating $ 25 $ 25 Selling, general and administrative 12 12 Total $ 37 $ 37 (In millions) Three Months Ended Six Months Ended Termination charges: U.S. Rental Car Segment $ 34 $ 34 Corporate operations 3 3 Total $ 37 37 The tables above do not include pension-related settlement charges incurred during the three and six months ended June 30, 2020. See Note 10, "Employee Retirement Benefits". The following table summarizes the activity affecting the restructuring accrual, which is recorded in accrued liabilities in the accompanying unaudited condensed consolidated balance sheet, during the six months ended June 30, 2020. (In millions) Termination Balance as of December 31, 2019 $ 1 Charges incurred 37 Cash payments (22) Liabilities subject to compromise (1) (7) Balance as of June 30, 2020 $ 9 (1) As a result of filing the Chapter 11 Cases, as disclosed in Note 1, "Background," the Company classified $7 million of restructuring charges as liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020. See Note 15, "Liabilities Subject to Compromise".

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Tax (Provision) Benefit	Income Tax (Provision) BenefitOn March 27, 2020, the U.S. federal government passed the Coronavirus Aid, Relief, and Economic Security Act ("CARES Act"). The CARES Act contains many tax provisions including, but not limited to, accelerated alternative minimum tax ("AMT") refunds, payroll tax payment deferrals, employee retention credits, enhanced net operating loss ("NOL") carryback rules and an increase to the interest deduction limitation. The Company has considered the income tax provisions of the CARES Act in the tax benefit calculation for the three and six months ended June 30, 2020. The Company continues to monitor and analyze the CARES Act along with global legislation issued in response to the COVID-19 pandemic. Hertz Global The effective tax rate is 18% and (9)% for the three months ended June 30, 2020 and 2019, respectively. The effective tax rate is 14% and (3)% for the six months ended June 30, 2020 and 2019, respectively. Hertz Global recorded a tax benefit of $192 million and $196 million for the three and six months ended June 30, 2020, respectively, compared to a tax provision of $4 million and $3 million for the three and six months ended June 30, 2019, respectively. The tax benefit for the three and six months ended June 30, 2020 compared to 2019 is due to increased losses on Hertz Global's operations due to the effect of COVID-19, primarily offset by the impact of valuation allowances on net deferred tax assets for certain foreign and domestic jurisdictions. Additionally, Hertz Global no longer asserts permanent reinvestment of foreign earnings, due to the impact from COVID-19 as disclosed in Note 1, "Background." Hertz Global does not anticipate that the change in its assertion will have a material impact on its cash flows during the next twelve months, between July 1, 2020 and June 30, 2021. Hertz The effective tax rate is 19% and (11)% for the three months ended June 30, 2020 and 2019, respectively. The effective tax rate is 15% and (4)% for the six months ended June 30, 2020 and 2019, respectively.

Earnings (Loss) Per Share - Her

Earnings (Loss) Per Share - Hertz Global	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Earnings (Loss) Per Share - Hertz Global	Earnings (Loss) Per Share - Hertz Global Basic earnings (loss) per share has been computed based upon the weighted-average number of common shares outstanding. Diluted earnings (loss) per share has been computed based upon the weighted-average number of common shares outstanding plus the effect of all potentially dilutive common stock equivalents, except when the effect would be anti-dilutive. Rights Offering In June 2019, Hertz Global filed a prospectus supplement to its Registration Statement on Form S-3 declared effective by the SEC on June 12, 2019 (the "Registration Statement") for a rights offering to raise gross proceeds of approximately $750 million and providing for the issuance of up to an aggregate of 57,915,055 new shares of Hertz Global common stock (the "Rights Offering"). Upon closing in July 2019, the Rights Offering was fully subscribed resulting in Hertz Global selling 57,915,055 shares of its common stock for gross proceeds of $750 million. Basic weighted-average shares outstanding and weighted-average shares used to calculate diluted earnings (loss) per share for the three and six months ended June 30, 2019 have been adjusted to give effect to the Rights Offering. Open Market Sale Agreement In June 2020, subsequent to approval from the Bankruptcy Court and pursuant to a prospectus supplement to the Registration Statement, Hertz Global entered into an open market sale agreement under which it may offer and sell, from time to time, shares of its common stock, par value $0.01 per share, having an aggregate offering price of up to $500 million ("ATM Program"). Prior to its suspension on June 15, 2020 and ultimate termination on June 18, 2020, Hertz Global issued 13,912,368 shares under the ATM Program for net proceeds of approximately $29 million, which is included in non-vehicle restricted cash in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020. The following table sets forth the computation of basic and diluted earnings (loss) per share: Three Months Ended Six Months Ended (In millions, except per share data) 2020 2019 2020 2019 Numerator: Net income (loss) attributable to Hertz Global $ (847) $ 38 $ (1,203) $ (108) Denominator: Basic weighted-average shares outstanding (excluding the impact of the Rights Offering) 144 84 143 84 Rights Offering adjustment (1) — 12 — 12 Basic weighted-average shares outstanding 144 96 143 96 Dilutive stock options, RSUs and PSUs — 1 — — Diluted weighted-average shares outstanding 144 97 143 96 Antidilutive stock options, RSUs, PSUs and PSAs 2 1 2 2 Earnings (loss) per share: Basic earnings (loss) per share $ (5.86) $ 0.40 $ (8.39) $ (1.13) Diluted earnings (loss) per share $ (5.86) $ 0.40 $ (8.39) $ (1.13) (1) Reflects the impact of the Rights Offering subscription period.

Employee Retirement Benefits

Employee Retirement Benefits	6 Months Ended
	Jun. 30, 2020
Postemployment Benefits [Abstract]
Employee Retirement Benefits	Employee Retirement Benefits The Company sponsors several employee retirement plans for its U.S. employees. The Hertz Corporation Account Balance Defined Benefit Pension Plan (the "Hertz Retirement Plan") is a U.S. cash balance plan which was amended in 2014 to permanently discontinue future benefit accruals and participation under the plan for non-union employees. Additionally, the Company sponsors the Hertz Corporation Benefit Equalization Plan ("BEP") and the Hertz Corporation Supplemental Executive Retirement Plans (together with the BEP, the "Supplemental Plans"), where benefit accruals and participation under the Supplemental Plans were discontinued by the Company effective December 31, 2014, although service continues to vest. As a result of filing the Chapter 11 Cases, as disclosed in Note 1, "Background," participants of the Supplemental Plans are no longer entitled to benefit payments and are considered general creditors of the Company. As such, the Company classified $24 million of its U.S. pension benefit obligation as liabilities subject to compromise in the accompanying unaudited consolidated balance sheet as of June 30, 2020. The following table sets forth the net periodic pension cost of the Hertz Retirement Plan and the Supplemental Plans (collectively, the "U.S. Plan"), which is included in other (income) expense, net in the accompanying unaudited condensed consolidated statements of operations, excluding service cost which is included in direct vehicle and operating expense. Due to settlement accounting, the discount rate for the U.S. Plan has been revised from a weighted average rate of 3.1% as of December 31, 2019 to 2.5% as of July 1, 2020. U.S. Plan Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Service cost $ — $ — $ — $ — Interest cost 4 5 8 11 Expected return on plan assets (5) (6) (10) (11) Net amortizations 1 2 2 3 Settlement loss (1) 4 — 4 — Net pension expense (benefit) $ 4 $ 1 $ 4 $ 3

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis The fair value of cash, restricted cash, accounts receivable, accounts payable and accrued liabilities, to the extent the underlying liability will be settled in cash, approximates the carrying values because of the short-term nature of these instruments. Cash Equivalents, Restricted Cash Equivalents and Investments The Company’s cash equivalents and restricted cash equivalents primarily consist of investments in money market funds and time deposits. The Company determines the fair value of cash equivalents using a market approach based on quoted prices in active markets (i.e., Level 1 inputs). Investments in equity securities that are measured at fair value on a recurring basis consisted of marketable securities as of December 31, 2019. See Note 3, "Divestitures." for further information. The following table summarizes the ending balances of the Company's cash equivalents, restricted cash equivalents and investments: June 30, 2020 December 31, 2019 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Money market funds and time deposits $ 1,055 $ — $ — $ 1,055 $ 531 $ — $ — $ 531 Marketable securities — — — — 74 — — 74 Debt Obligations The fair value of debt is estimated based on quoted market rates as well as borrowing rates currently available to the Company for loans with similar terms and average maturities (i.e., Level 2 inputs). As of June 30, 2020 As of December 31, 2019 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value (1) Nominal Unpaid Principal Balance Aggregate Fair Value Non-Vehicle Debt (2) $ 4,406 $ 1,738 $ 3,755 $ 3,840 Vehicle Debt 12,999 12,660 13,415 13,529 Total $ 17,405 $ 14,398 $ 17,170 $ 17,369 (1) The decrease in the aggregate fair value of the Company's debt is due to the impact from COVID-19 and the filing of the Chapter 11 Cases, as disclosed in Note 1, "Background." (2) Includes Non-Vehicle Debt included in liabilities subject to compromise in the accompanying balance sheet as of June 30, 2020. See Note 5, "Debt." Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis Assets and liabilities measured at fair value on a non-recurring basis as of June 30, 2020 consist of technology-related intangible assets and other assets, as disclosed in Note 4, "Goodwill and Intangible Assets, Net."

Contingencies and Off-Balance S

Contingencies and Off-Balance Sheet Commitments	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Off-Balance Sheet Commitments	Contingencies and Off-Balance Sheet Commitments Legal Proceedings Self-insured Liabilities The Company is currently a defendant in numerous actions and has received numerous claims on which actions have not yet commenced for self-insured liabilities arising from the operation of motor vehicles rented from the Company. The obligation for self-insured liabilities on self-insured U.S. and international vehicles, as stated in the accompanying unaudited condensed consolidated balance sheets, represents an estimate for both reported accident claims not yet paid and claims incurred but not yet reported and are recorded on an undiscounted basis. Reserve requirements are based on rental volume and actuarial evaluations of historical accident claim experience and trends, as well as future projections of ultimate losses, expenses, premiums and administrative costs. As of June 30, 2020 and December 31, 2019, the Company's liability recorded for self-insured liabilities is $495 million and $553 million, respectively. The Company believes that its analysis is based on the most relevant information available, combined with reasonable assumptions. The liability is subject to significant uncertainties. The adequacy of the liability is regularly monitored based on evolving accident claim history and insurance related state legislation changes. If the Company's estimates change or if actual results differ from these assumptions, the amount of the recorded liability is adjusted to reflect these results. Loss Contingencies From time to time the Company is a party to various legal proceedings, typically involving operational issues common to the vehicle rental business, including claims by employees and former employees and governmental investigations. The Company has summarized below the most significant legal proceedings to which the Company was and/or is a party as of June 30, 2020 or the period after June 30, 2020, but before the filing of this Quarterly Report on Form 10-Q. Governmental Investigations - The Company previously identified certain activities in Brazil that raised issues under the Foreign Corrupt Practices Act (the "FCPA") and other federal and local laws, which the Company self-reported to appropriate government entities. The matters associated with the FCPA and other federal matters have been resolved without further action by the applicable U.S. government entities. The Company is continuing its cooperation with respect to matters under local Brazilian laws. The Company has accrued a loss contingency with respect to the ongoing Brazil-related matters that is not material. In re Hertz Global Holdings, Inc. Securities Litigation - In November 2013, a purported shareholder class action, Pedro Ramirez, Jr. v. Hertz Global Holdings, Inc., et al., was commenced in the U.S. District Court for the District of New Jersey naming Old Hertz Holdings (as defined in the Company's 2019 Form 10-K) and certain of its officers as defendants and alleging violations of the federal securities laws. The complaint alleged that Old Hertz Holdings made material misrepresentations and/or omissions of material fact in certain of its public disclosures in violation of Section 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder. The complaint sought an unspecified amount of monetary damages on behalf of the purported class and an award of costs and expenses, including counsel fees and expert fees. The complaint, as amended, was dismissed with prejudice on April 27, 2017 and on September 20, 2018, the Third Circuit affirmed the dismissal of the complaint with prejudice. On February 5, 2019, the plaintiffs filed a motion asking the federal district court to exercise its discretion and allow the plaintiffs to reinstate their claims to include additional allegations from the administrative order agreed to by the SEC and the Company in December 2018, which was supplemented by reference to the Company’s subsequently filed litigation against former executives (discussed below). On September 30, 2019, the federal district court of New Jersey denied the plaintiffs’ motion for relief from the April 27, 2017 judgment and a related motion to allow the filing of a proposed fifth amended complaint. On October 30, 2019, the plaintiffs filed a notice of appeal as to the district court’s latest denial with the U. S. Court of Appeals for the Third Circuit. The parties fully briefed the appeal and oral argument had been scheduled for June 19, 2020. The plaintiffs advocated that the appeal could proceed against the individual defendants and the case has been listed for “at the convenience to the Court." The Company has established reserves for matters where the Company believes that losses are probable and can be reasonably estimated. Other than the aggregate reserve established for claims for self-insured liabilities, none of those reserves are material. For matters, including certain of those described above, where the Company has not established a reserve, the ultimate outcome or resolution cannot be predicted at this time, or the amount of ultimate loss, if any, cannot be reasonably estimated. These matters are subject to many uncertainties and the outcome of the individual litigated matters is not predictable with assurance. It is possible that certain of the actions, claims, inquiries or proceedings, including those discussed above, could be decided unfavorably to the Company or any of its subsidiaries involved. Accordingly, it is possible that an adverse outcome from such a proceeding could exceed the amount accrued in an amount that could be material to the accompanying consolidated financial condition, results of operations or cash flows in any particular reporting period. Other Proceedings Litigation Against Former Executives - The Company filed litigation in federal court in New Jersey against Mark Frissora, Elyse Douglas and John Jefferey Zimmerman on March 25, 2019, and in state court in Florida against Scott Sider on March 28, 2019, all of whom were former executive officers of Old Hertz Holdings. The complaints predominantly allege breach of contract and seek repayment of incentive-based compensation received by the defendants in connection with restatements included in the Old Hertz Holdings Form 10-K for the year ended December 31, 2014 and related accounting for prior periods. The Company is also seeking recovery for the costs of the SEC investigation that resulted in an administrative order on December 31, 2018 with respect to events generally involving the restatements included in Old Hertz Holdings Form 10-K for the year ended December 31, 2014 and other damages resulting from the necessity of the restatements. The Company is pursuing these legal proceedings in accordance with its clawback policy and contractual rights. The parties are currently involved in motion practice in the New Jersey action and discovery and depositions have commenced in the Florida action. In October 2019, the Company entered into a confidential Settlement Agreement with Elyse Douglas. Since then, the Company has been engaged in motion practice in New Jersey by filing a Second Amended Complaint which was filed in May of 2020. In the Florida action, the Company has been engaged in discovery and depositions. Pursuant to the agreements governing the separation of Herc Holdings from Hertz Global that occurred on June 30, 2016, Herc Holdings is entitled to 15% of the net proceeds of any repayment or recovery. Indemnification Obligations In the ordinary course of business, the Company has executed contracts involving indemnification obligations customary in the relevant industry and indemnifications specific to a transaction such as the sale of a business. These indemnification obligations might include claims relating to the following: environmental matters; intellectual property rights; governmental regulations and employment-related matters; customer, supplier and other commercial contractual relationships and financial matters. Specifically, the Company has indemnified various parties for the costs associated with remediating numerous hazardous substance storage, recycling or disposal sites in many states and, in some instances, for natural resource damages. The amount of any such expenses or related natural resource damages for which the Company may be held responsible could be substantial. In addition, Hertz entered into customary indemnification agreements with Hertz Holdings and certain of the Company's stockholders and their affiliates pursuant to which Hertz Holdings and Hertz will indemnify those entities and their respective affiliates, directors, officers, partners, members, employees, agents, representatives and controlling persons, against certain liabilities arising out of performance of a consulting agreement with Hertz Holdings and each of such entities and certain other claims and liabilities, including liabilities arising out of financing arrangements or securities offerings. The Company has entered into customary indemnification agreements with each of its directors and certain of its officers. Performance under these indemnification obligations would generally be triggered by a breach of terms of the contract or by a third-party claim. In connection with the Spin-Off (as defined in the Company's 2019 Form 10-K), the Company executed an agreement with Herc Holdings that contains mutual indemnification clauses and a customary indemnification provision with respect to liability arising out of or resulting from assumed legal matters. The Company regularly evaluates the probability of having to incur costs associated with these indemnification obligations and has accrued for expected losses that are probable and estimable.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Agreements with the Icahn Group In the normal course of business, the Company purchases goods and services and leases property from entities controlled by Carl C. Icahn and his affiliates, including The Pep Boys - Manny, Moe & Jack (collectively, the "Icahn Group"). In May 2020, the Icahn Group fully divested all owned shares of Hertz Global common stock (the "Icahn Divestiture"). As a result of the Icahn Divestiture, the Icahn Group is no longer a related party of the Company. During the two and five months ended May 31, 2020, the Company purchased approximately $6 million and $23 million, respectively, worth of goods and services from these related parties. During the three months and six months ended June 30, 2019, the Company purchased approximately $12 million and $24 million, respectively, worth of goods and services from these related parties. Subsequent to the Icahn Divestiture, there continues to be arms-length transactions between the Company and the Icahn Group. Transactions and Agreements between Hertz Holdings and Hertz In June 2019, Hertz entered into a master loan agreement with Hertz Holdings for a facility size of $425 million with an expiration in June 2020 (the "2019 Master Loan"). The interest rate is based on the U.S. Dollar LIBOR rate plus a margin. As of December 31, 2019, the amount outstanding under the 2019 Master Loan was $129 million, representing advances and any accrued but unpaid interest. Additionally, Hertz had a loan due to an affiliate in the amount of $65 million as of December 31, 2019 which represents a tax-related liability to Hertz Holdings. The net impact of the above amounts are included in stockholder's equity in the accompanying unaudited condensed consolidated balance sheet of Hertz as of December 31, 2019. As a result of filing the Chapter 11 Cases, as disclosed in Note 1, "Background," the full amount outstanding under the 2019 Master Loan was deemed uncollectible, resulting in a charge of $133 million which was recorded in the accompanying unaudited condensed consolidated statements of operations for Hertz for the three and six months ended June 30, 2020. Additionally, the loan due to an affiliate, which represents a tax-related liability from Hertz to Hertz Holdings, in the amount of $65 million was classified as liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheet of Hertz as of June 30, 2020. See Note 15, "Liabilities Subject to Compromise". On May 23, 2020, Hertz entered into a new master loan agreement with Hertz Holdings for a facility size of $25 million with an expiration in May 2021. The interest rate is based on the U.S. Dollar LIBOR rate plus a margin. As of June 30, 2020 no transactions had been recorded. 767 Auto Leasing LLC In January 2018, Hertz entered into a Master Motor Vehicle Lease and Management Agreement (the “767 Lease Agreement”) pursuant to which Hertz granted 767 Auto Leasing LLC (“767”), an entity affiliated with the Icahn Group, the option to acquire certain vehicles from Hertz at rates aligned with the rates at which Hertz sells vehicles to third parties. As disclosed above, due to the Icahn Divestiture, the Icahn Group is no longer a related party of the Company. Hertz leases the vehicles purchased by 767 under the 767 Lease Agreement or from third parties, under a mutually developed fleet plan and Hertz manages, services, repairs, sells and maintains those leased vehicles on behalf of 767. Hertz currently rents the leased vehicles to drivers of transportation network companies ("TNC") from rental counters within locations leased or owned by affiliates of 767 ("Icahn Locations"), including locations operated under a master lease agreement with The Pep Boys - Manny, Joe & Jack. The 767 Lease Agreement had an initial term, as extended, of approximately 22 months, and is subject to automatic six month renewals thereafter, unless terminated by either party (with or without cause) prior to the start of any such six month renewal. 767’s payment obligations under the 767 Lease Agreement are guaranteed by American Entertainment Properties Corp. ("AEPC"), an entity affiliated with the Icahn Group. During the three and six months ended June 30, 2019, AEPC contributed $20 million and $45 million, respectively, to 767 along with certain services. There were no cash contributions from AEPC to 767 during the three and six months ended June 30, 2020, except for certain services. The Company is entitled to 25% of the profit from the rental of the leased vehicles, as specified in the 767 Lease Agreement, which is variable and based primarily on the rental revenue, less certain vehicle-related costs, such as depreciation, licensing and maintenance expenses. The Company has determined that it is the primary beneficiary of 767 due to its power to direct the activities of 767 that most significantly impact 767's economic performance and the Company's obligation to absorb 25% of 767's gains/losses. Accordingly, 767 is consolidated by the Company as a VIE.

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s chief operating decision maker assesses performance and allocates resources based upon the financial information for the Company’s operating segments. The Company aggregates certain of its operating segments into its reportable segments. The Company has identified three reportable segments, which are organized based on the products and services provided by its operating segments and the geographic areas in which its operating segments conduct business, as follows: • U.S. Rental Car ("U.S. RAC") - rental of vehicles (i.e., cars, crossovers, vans and light trucks), as well as sales of value-added services, in the U.S. and consists of the Company's U.S. operating segment; • International Rental Car ("International RAC") - rental and leasing of vehicles (i.e., cars, vans, crossovers and light trucks), as well as sales of value-added services, internationally and consists of the Company's Europe and Other International operating segments, which are aggregated into a reportable segment based primarily upon similar economic characteristics, products and services, customers, delivery methods and general regulatory environments; • All Other Operations - primarily consists of the Company's Donlen business, which provides vehicle leasing and fleet management services, together with other business activities which represent less than 1% of revenues and expenses of the segment. Effective during the three months ended June 30, 2019, the Company changed its segment measure of profitability for its reportable segments to Adjusted EBITDA, as shown in the Adjusted EBITDA reconciliation tables below. This measure better aligns with the way the Company reviews its overall vehicle rental and leasing business. Prior to the three months ended June 30, 2019, the Company’s segment measure of profitability was Adjusted Pre-tax Income (Loss) which included non-vehicle depreciation and amortization, non-vehicle debt interest, net, and certain other items. In addition to the above reportable segments, the Company has corporate operations ("Corporate") which includes general corporate assets and expenses and certain interest expense (including net interest on non-vehicle debt). Corporate includes other items necessary to reconcile the reportable segments to the Company's total amounts. The following tables provide significant statements of operations and balance sheet information by reportable segment for each of Hertz Global and Hertz, as well as Adjusted EBITDA, the measure used to determine segment profitability. Three Months Ended Six Months Ended (In millions) 2020 2019 2020 2019 Revenues U.S. Rental Car $ 533 $ 1,784 $ 1,914 $ 3,304 International Rental Car 135 560 502 993 All Other Operations (1) 164 167 339 321 Total Hertz Global and Hertz $ 832 $ 2,511 $ 2,755 $ 4,618 Depreciation of revenue earning vehicles and lease charges U.S. Rental Car $ 408 $ 411 $ 871 $ 797 International Rental Car 81 106 170 203 All Other Operations 121 117 245 226 Total Hertz Global and Hertz $ 610 $ 634 $ 1,286 $ 1,226 Adjusted EBITDA U.S. Rental Car $ (470) $ 156 $ (668) $ 163 International Rental Car (127) 56 (172) 42 All Other Operations 23 24 48 45 Corporate (13) (29) (38) (47) Total Hertz Global and Hertz $ (587) $ 207 $ (830) $ 203 (1) Certain amounts have been adjusted due to rounding. (In millions) June 30, 2020 December 31, 2019 Total assets U.S. Rental Car $ 15,614 $ 16,459 International Rental Car 3,783 4,563 All Other Operations 1,970 2,115 Corporate 1,749 1,490 Total Hertz Global (1) 23,116 24,627 Corporate - Hertz (2) (29) — Total Hertz (1) $ 23,087 $ 24,627 (1) The consolidated total assets of Hertz Global and Hertz as of June 30, 2020 and December 31, 2019 include total assets of VIEs of $986 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. See "Special Purpose Entities" in Note 5, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information. (2) Excludes net proceeds from the ATM Program of $29 million as disclosed in Note 9, "Earnings (Loss) Per Share - Hertz Global." Reconciliations of Adjusted EBITDA by reportable segment to consolidated amounts are summarized below: Hertz Global Three Months Ended Six Months Ended (In millions) 2020 2019 2020 2019 Adjusted EBITDA: U.S. Rental Car $ (470) $ 156 $ (668) $ 163 International Rental Car (127) 56 (172) 42 All Other Operations 23 24 48 45 Total reportable segments (574) 236 (792) 250 Corporate (1) (13) (29) (38) (47) Total Hertz Global (587) 207 (830) 203 Adjustments: Non-vehicle depreciation and amortization (57) (51) (110) (99) Non-vehicle debt interest, net (44) (72) (101) (144) Vehicle debt-related charges (2) (15) (9) (24) (19) Restructuring and restructuring related charges (3) (41) (4) (47) (10) Technology-related intangible and other asset impairments (4) (193) — (193) — Information technology and finance transformation costs (5) (8) (38) (25) (60) Reorganization items, net (6) (23) — (23) — Pre-reorganization charges and non-debtor financing charges (7) (45) — (45) — Other items (8) (31) 11 (7) 25 Income (loss) before income taxes $ (1,044) $ 44 $ (1,405) $ (104) Hertz Three Months Ended Six Months Ended (In millions) 2020 2019 2020 2019 Adjusted EBITDA: U.S. Rental Car $ (470) $ 156 $ (668) $ 163 International Rental Car (127) 56 (172) 42 All Other Operations 23 24 48 45 Total reportable segments (574) 236 (792) 250 Corporate (1) (13) (29) (38) (47) Total Hertz Global (587) 207 (830) 203 Adjustments: Non-vehicle depreciation and amortization (57) (51) (110) (99) Non-vehicle debt interest, net (43) (70) (99) (141) Vehicle debt-related charges (2) (15) (9) (24) (19) Restructuring and restructuring related charges (3) (41) (4) (47) (10) Technology-related intangible and other asset impairments (4) (193) — (193) — Write-off of intercompany loan (9) (133) — (133) — Information technology and finance transformation costs (5) (8) (38) (25) (60) Reorganization items, net (6) (23) — (23) — Pre-reorganization charges and non-debtor financing charges (7) (45) — (45) — Other items (8) (31) 11 (7) 25 Income (loss) before income taxes $ (1,176) $ 46 $ (1,536) $ (101) (1) Represents other reconciling items primarily consisting of general corporate expenses, non-vehicle interest expense, as well as other business activities. (2) Represents vehicle debt-related charges relating to the amortization of deferred financing costs and debt discounts and premiums. (3) Represents charges incurred under restructuring actions as defined in U.S. GAAP. See Note 7, "Restructuring" for further information. Also includes restructuring related charges such as incremental costs incurred directly supporting business transformation initiatives. (4) Represents the impairment of technology-related intangible assets and capitalized cloud computing implementation costs, as disclosed in Note 4, "Goodwill and Intangible Assets, Net." (5) Represents costs associated with the Company’s information technology and finance transformation programs, both of which are multi-year initiatives to upgrade and modernize the Company’s systems and processes. (6) Represents charges incurred associated with the filing of the Chapter 11 Cases, as disclosed in Note 16, "Reorganization Items, Net," including professional fees. (7) Represents charges incurred prior to the filing of the Chapter 11 Cases, as disclosed in Note 1, "Background," which are comprised of preparation charges for the reorganization, such as professional fees and certain non-debtor financing charges. (8) Represents miscellaneous items, including non-cash stock-based compensation charges, and amounts attributable to noncontrolling interests. In 2020, also includes a $20 million gain on the sale of non-vehicle capital assets, which was recorded in the first quarter, partially offset by second quarter charges of $18 million for losses associated with certain vehicle damages. In 2019, includes a $20 million gain on marketable securities, of which $9 million was recorded in the second quarter, and a $12 million gain on the sale of non-vehicle capital assets, of which $4 million was recorded in the second quarter. (9) Represents the write-off of the 2019 Master Loan between Hertz and Hertz Holdings, as disclosed in Note 13, "Related Party Transactions."

Liabilities Subject to Compromi

Liabilities Subject to Compromise	6 Months Ended
	Jun. 30, 2020
Reorganizations [Abstract]
Liabilities Subject to Compromise	Liabilities Subject to Compromise The accompanying unaudited condensed consolidated balance sheet as of June 30, 2020 includes amounts classified as liabilities subject to compromise, which represent pre-petition liabilities the Company anticipates will be allowed as claims in the Chapter 11 Cases. These amounts represent the Debtors' current estimate of known or potential obligations to be resolved in connection with the Chapter 11 Cases and may differ from actual future settlement amounts. The Company will continue to evaluate these liabilities throughout the Chapter 11 process and adjust amounts as necessary. Such adjustments could be material and will be recorded in reorganization items, net in the accompanying unaudited condensed consolidated statements of operations. The following table summarizes liabilities subject to compromise: (In millions) June 30, 2020 Accounts payable $ 301 Accrued liabilities 226 Accrued taxes, net 27 Accrued interest on debt subject to compromise 46 Debt subject to compromise (1) 4,312 Liabilities subject to compromise - Hertz Global $ 4,912 Due from Affiliate - Hertz (2) 65 Liabilities subject to compromise - Hertz $ 4,977 (1) See Note 5, "Debt" for details of pre-petition, non-vehicle debt reported as liabilities subject to compromise as of June 30, 2020. (2) See Note 13, "Related Party Transactions" for details of a pre-petition intercompany loan due to an affiliate reported as liabilities subject to compromise as of June 30, 2020.

Reorganization Items, Net

Reorganization Items, Net	6 Months Ended
	Jun. 30, 2020
Reorganizations [Abstract]
Reorganization Items, Net	Liabilities Subject to Compromise The accompanying unaudited condensed consolidated balance sheet as of June 30, 2020 includes amounts classified as liabilities subject to compromise, which represent pre-petition liabilities the Company anticipates will be allowed as claims in the Chapter 11 Cases. These amounts represent the Debtors' current estimate of known or potential obligations to be resolved in connection with the Chapter 11 Cases and may differ from actual future settlement amounts. The Company will continue to evaluate these liabilities throughout the Chapter 11 process and adjust amounts as necessary. Such adjustments could be material and will be recorded in reorganization items, net in the accompanying unaudited condensed consolidated statements of operations. The following table summarizes liabilities subject to compromise: (In millions) June 30, 2020 Accounts payable $ 301 Accrued liabilities 226 Accrued taxes, net 27 Accrued interest on debt subject to compromise 46 Debt subject to compromise (1) 4,312 Liabilities subject to compromise - Hertz Global $ 4,912 Due from Affiliate - Hertz (2) 65 Liabilities subject to compromise - Hertz $ 4,977 (1) See Note 5, "Debt" for details of pre-petition, non-vehicle debt reported as liabilities subject to compromise as of June 30, 2020. (2) See Note 13, "Related Party Transactions" for details of a pre-petition intercompany loan due to an affiliate reported as liabilities subject to compromise as of June 30, 2020.

Condensed Combined Debtor in Po

Condensed Combined Debtor in Possession Financial Information	6 Months Ended
	Jun. 30, 2020
Guarantor and Non-Guarantor Condensed Consolidating Financial Statements Disclosure [Abstract]
Condensed Combined Debtor in Possession Financial Information	Condensed Combined Debtor-in-Possession Financial Information The following financial statements represent the unaudited condensed combined financial statements of the Debtors. The results of the non-debtor entities are not included in these financial statements. Intercompany transactions among the Debtors have been eliminated in the following financial statements. Intercompany transactions among the Debtor and non-debtor entities have not been eliminated in the following financial statements. THE DEBTORS CONDENSED COMBINED BALANCE SHEET (in millions) June 30, 2020 ASSETS Cash and cash equivalents $ 875 Restricted cash and cash equivalents 382 Total cash, cash equivalents, restricted cash and restricted cash equivalents 1,257 Receivables, net 454 Due from non-debtor affiliates 50,004 Prepaid expenses and other assets 629 Revenue earning vehicles, net 179 Property and equipment, net 633 Operating lease right-of-use assets 1,450 Investment in subsidiaries, net 4,458 Intangible assets, net 3,084 Goodwill 524 Total assets $ 62,672 LIABILITIES AND EQUITY Accounts payable $ — Due to non-debtor affiliates 242 Accrued liabilities 506 Accrued taxes, net 19 Debt 150 Operating lease liabilities 1,422 Self-insured liabilities 263 Deferred income taxes, net — Total liabilities not subject to compromise 2,602 Liabilities subject to compromise 59,511 Total liabilities 62,113 Total equity attributable to the Debtors 559 Total liabilities and equity $ 62,672 THE DEBTORS CONDENSED COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (in millions) Three Months Ended Six Months Ended Total revenues $ 537 $ 1,873 Expenses: Direct vehicle and operating 572 1,554 Depreciation of revenue earning vehicles and lease charges 667 2,364 Selling, general and administrative 126 297 Interest (income) expense, net 37 88 Technology-related intangible and other asset impairments 193 193 Other (income) expense, net 3 (18) Reorganization items, net 23 23 Total expenses 1,621 4,501 Income (loss) before income taxes and equity in earnings (losses) of non-debtor entities (1,084) (2,628) Income tax (provision) benefit 229 527 Equity in earnings (losses) of non-debtor entities 6 898 Net income (loss) (849) (1,203) Total other comprehensive income (loss), net of tax 7 (32) Comprehensive income (loss) attributable to the Debtors $ (842) $ (1,235) THE DEBTORS CONDENSED COMBINED STATEMENT OF CASH FLOWS (in millions) Six Months Ended Net cash provided by (used in) operating activities $ (26) Cash flows from investing activities: Revenue earning vehicles expenditures (460) Proceeds from disposal of revenue earning vehicles 433 Non-vehicle capital asset expenditures (64) Proceeds from non-vehicle capital assets disposed of or to be disposed of 49 Sales of marketable securities 74 Capital contributions to non-debtor entities (741) Return of capital from non-debtor entities 838 Loan to non-debtor entity (180) Loan repayment from non-debtor entity 189 Net cash provided by (used in) investing activities 138 Cash flows from financing activities: Proceeds from issuance of vehicle debt 321 Repayments of vehicle debt (374) Proceeds from issuance of non-vehicle debt 1,498 Repayments of non-vehicle debt (853) Proceeds from the issuance of stock, net 29 Other (2) Net cash provided by (used in) financing activities 619 Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period 731 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 526 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ 1,257

Basis of Presentation and Rec_2

Basis of Presentation and Recently Issued Accounting Pronouncements (Policies)	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Principles of Consolidation	Principles of ConsolidationThe unaudited condensed consolidated financial statements of Hertz Global include the accounts of Hertz Global, its wholly owned and majority owned U.S. and international subsidiaries and its VIEs, as applicable. The unaudited condensed consolidated financial statements of Hertz include the accounts of Hertz, its wholly owned and majority owned U.S. and international subsidiaries and its VIEs, as applicable. The Company consolidates a VIE when it is deemed the primary beneficiary of the VIE. The Company accounts for its investment in joint ventures using the equity method when it has significant influence but not control and is not the primary beneficiary of the joint venture. All significant intercompany transactions have been eliminated in consolidation.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements Adopted Measurement of Credit Losses on Financial Instruments In June 2016, the Financial Accounting Standards Board (the "FASB") issued guidance that sets forth a current expected credit loss impairment model for financial assets, which replaces the current incurred loss model, and issued amendments and updates to the new standard in 2018 and 2019. This model requires a financial asset (or group of financial assets), including trade receivables, measured at amortized cost to be presented at the net amount expected to be collected with an allowance for credit losses deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. The Company adopted this guidance when effective, on January 1, 2020, using a modified retrospective transition method. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows. Customer's Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement In August 2018, the FASB issued guidance on a customer's accounting for implementation fees paid in a cloud computing service contract arrangement that addresses which implementation costs to capitalize as an asset and which costs to expense. Capitalized implementation fees are to be expensed over the term of the cloud computing arrangement, and the expense is required to be recognized in the same line item in the income statement as the associated hosting service expenses. The entity is also required to present the capitalized implementation fees on the balance sheet in the same line item as the prepayment for hosting service fees associated with the cloud computing arrangement. The Company adopted this guidance when effective, on January 1, 2020, using a prospective transition method. The adoption of this guidance did not have a material impact on the Company's financial position, results of operations or cash flows. The Company has hosting arrangements in connection with its Enterprise Resource Planning systems. Prior to the adoption of this guidance, the Company capitalized certain implementation costs for its hosting arrangements in intangible assets, net, in the accompanying unaudited condensed consolidated balance sheet as of December 31, 2019. Subsequent to the adoption of this guidance on January 1, 2020, the Company records implementation fees incurred in connection with its hosting arrangements in prepaid expenses and other assets in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020. Not Yet Adopted Simplifying the Accounting for Income Taxes In December 2019, the FASB issued guidance that simplifies the accounting for income taxes by removing certain exceptions in existing guidance and improves consistency in application by clarifying and amending existing guidance. This guidance is effective for annual periods beginning after December 15, 2020, and interim periods within those annual periods, where the transition method varies depending upon the specific amendment. Early adoption is permitted, including adoption in any interim period. An entity that elects to early adopt the amendments in an interim period should reflect any adjustments as of the beginning of the annual period that includes that interim period, and all amendments must be adopted in the same period. The Company is in the process of assessing the overall impact of adopting this guidance on its financial position, results of operations and cash flows. Facilitation of the Effects of Reference Rate Reform In March 2020, the FASB issued guidance that provides optional expedients and exceptions for contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued due to reference rate reform initiatives. This guidance is effective beginning March 12, 2020 through December 31, 2022 where the transition method varies depending upon the specific expedient or exception. The Company is in the process of assessing the available expedients and exceptions and, if applicable, the method and timing of adoption.

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Components of debt	The Company's debt, including its available credit facilities, consists of the following ($ in millions): Facility Weighted-Average Interest Rate Fixed or Maturity June 30, December 31, Non-Vehicle Debt Senior Term Loan (1) Floating 6/2023 $ — $ 660 Senior RCF (1) Floating 6/2021 — — Senior Notes (1)(2) Fixed 10/2022-1/2028 — 2,700 Senior Second Priority Secured Notes (1) Fixed 6/2022 — 350 Promissory Notes (1) Fixed 1/2028 — 27 Alternative Letter of Credit Facility 3.25% Floating 11/2023 36 — Senior RCF Letter of Credit Facility 3.25% Floating 6/2021 2 — Other Non-Vehicle Debt 6.75% Fixed Various 20 18 Unamortized Debt Issuance Costs and Net (Discount) Premium — (34) Total Non-Vehicle Debt Not Subject to Compromise 58 3,721 Non-Vehicle Debt Subject to Compromise Senior Term Loan 3.51% Floating 6/2023 656 — Senior RCF 4.08% Floating 6/2021 615 — Senior Notes (2) 6.11% Fixed 10/2022-1/2028 2,700 — Senior Second Priority Secured Notes 7.63% Fixed 6/2022 350 — Promissory Notes 7.00% Fixed 1/2028 27 — Unamortized Debt Issuance Costs and Net (Discount) Premium (36) — Total Non-Vehicle Debt Subject to Compromise 4,312 — Vehicle Debt HVF II U.S. ABS Program HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A (3)(6) 3.46% Floating 3/2022 4,148 2,644 4,148 2,644 HVF II U.S. Vehicle Medium Term Notes HVF II Series 2015-1 (3) N/A Fixed 3/2020 — 780 HVF II Series 2015-3 (3) 3.17% Fixed 9/2020 319 371 HVF II Series 2016-2 (3) 3.48% Fixed 3/2021 512 595 HVF II Series 2016-4 (3) 3.16% Fixed 7/2021 365 424 HVF II Series 2017-1 (3) 3.45% Fixed 10/2020 387 450 HVF II Series 2017-2 (3) 3.82% Fixed 10/2022 318 350 Facility Weighted-Average Interest Rate Fixed or Maturity June 30, December 31, HVF II Series 2018-1 (3) 3.58% Fixed 2/2023 910 1,000 HVF II Series 2018-2 (3) 3.99% Fixed 6/2021 183 200 HVF II Series 2018-3 (3) 4.33% Fixed 7/2023 183 200 HVF II Series 2019-1 (3) 4.05% Fixed 3/2022 641 700 HVF II Series 2019-2 (3) 3.71% Fixed 5/2024 687 750 HVF II Series 2019-3 (3) 2.95% Fixed 12/2024 687 800 5,192 6,620 Donlen U.S. ABS Program HFLF Variable Funding Notes HFLF Series 2013-2 (4)(6) 6.10% Floating 7/2020-10/2022 475 286 475 286 HFLF Medium Term Notes HFLF Series 2016-1 (4) N/A Both 1/2020-2/2020 — 34 HFLF Series 2017-1 (4) 2.51% Both 7/2020-11/2022 139 229 HFLF Series 2018-1 (4) 2.59% Both 7/2020-11/2022 353 462 HFLF Series 2019-1 (4) 2.23% Both 7/2020-11/2022 552 650 1,044 1,375 Vehicle Debt - Other U.S. Vehicle RCF 5.73% Floating 6/2021 93 146 European Vehicle Notes (5) 5.07% Fixed 10/2021-3/2023 813 810 European ABS (3) 1.60% Floating 11/2021 624 766 Hertz Canadian Securitization (3)(6) 3.73% Floating 3/2021 170 241 Donlen Canadian Securitization (3) 2.31% Floating 12/2022 25 24 Australian Securitization (3) 1.74% Floating 6/2021 137 177 New Zealand RCF 2.93% Floating 6/2021 45 50 U.K. Financing Facility 3.05% Floating 7/2020-2/2023 210 247 Other Vehicle Debt 3.61% Floating 7/2020-11/2024 23 29 2,140 2,490 Unamortized Debt Issuance Costs and Net (Discount) Premium (75) (47) Total Vehicle Debt Not Subject to Compromise 12,924 13,368 Total Debt Not Subject to Compromise $ 12,982 $ 17,089 N/A - Not applicable (1) As a result of filing the Chapter 11 Cases, certain debt was classified as liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020. The weighted-average interest rate for such debt is disclosed in subsequent rows under "non-vehicle debt subject to compromise". (2) References to the "Senior Notes" include the series of Hertz's unsecured senior notes set forth in the table below which are included in liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020. Outstanding principal amounts for each such series of the Senior Notes is also specified below: (In millions) Outstanding Principal Senior Notes June 30, 2020 December 31, 2019 6.250% Senior Notes due October 2022 500 500 5.500% Senior Notes due October 2024 800 800 7.125% Senior Notes due August 2026 500 500 6.000% Senior Notes due January 2028 900 900 $ 2,700 $ 2,700 (3) Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness originally expected the outstanding principal of the relevant indebtedness to be repaid in full. The legal final maturity date is the date on which the outstanding principal of the relevant indebtedness is legally due and payable in full. The expected maturity of debt under amortization, as described below, is based upon the sale of the underlying vehicles or the refinancing of the current debt. (4) In the case of the Hertz Fleet Lease Funding LP ("HFLF") Medium Term Notes, such notes are repayable from cash flows derived from third-party leases comprising the underlying HFLF collateral pool. As a result of the Chapter 11 Cases and the resulting amortization events, as described below, the revolving period for all series were terminated, and are amortizing monthly by an amount equal to the lease collections payable to that series and the maturity date referenced for each series of HFLF Medium Term Notes represents the date by which Hertz expects such series of notes to be repaid in full, which is based upon the contractual amortization of the underlying leases as well as the assumed rate of prepayments of such leases. Such maturity reference is to the “expected final maturity date” as opposed to the subsequent “legal final maturity date.” The legal final maturity date is the date on which the relevant indebtedness is legally due and payable. Although the underlying lease cash flows that support the repayment of the HFLF Medium Term Notes may vary, the cash flows generally are expected to approximate a straight-line amortization of the related notes from the initial maturity date through the expected final maturity date. (5) References to the "European Vehicle Notes" include the series of Hertz Holdings Netherlands B.V.'s, an indirect wholly-owned subsidiary of Hertz organized under the laws of the Netherlands, unsecured senior notes (converted from Euros to U.S. dollars at a rate of 1.12 to 1 as of June 30, 2020 and December 31, 2019, respectively), set forth in the table below. Outstanding principal amounts for each such series of the European Vehicle Notes is also specified below: (In millions) Outstanding Principal European Vehicle Notes June 30, 2020 December 31, 2019 4.125% Senior Notes due October 2021 $ 252 $ 251 5.500% Senior Notes due March 2023 561 559 $ 813 $ 810 In March 2020, HVF II sold the below notes, which it had acquired at the time of the respective initial offerings and which were previously eliminated in consolidation, to third parties. (In millions) Aggregate Principal Amount HVF II Series 2017-2 Class D Notes $ 20 HVF II Series 2018-1 Class D Notes 58 HVF II Series 2018-2 Class D Notes 13 HVF II Series 2018-3 Class D Notes 13 HVF II Series 2019-1 Class D Notes 45 HVF II Series 2019-2 Class D Notes 49 Total $ 198 The fair value of debt is estimated based on quoted market rates as well as borrowing rates currently available to the Company for loans with similar terms and average maturities (i.e., Level 2 inputs). As of June 30, 2020 As of December 31, 2019 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value (1) Nominal Unpaid Principal Balance Aggregate Fair Value Non-Vehicle Debt (2) $ 4,406 $ 1,738 $ 3,755 $ 3,840 Vehicle Debt 12,999 12,660 13,415 13,529 Total $ 17,405 $ 14,398 $ 17,170 $ 17,369 (1) The decrease in the aggregate fair value of the Company's debt is due to the impact from COVID-19 and the filing of the Chapter 11 Cases, as disclosed in Note 1, "Background." (2) Includes Non-Vehicle Debt included in liabilities subject to compromise in the accompanying balance sheet as of June 30, 2020. See Note 5, "Debt." Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis Assets and liabilities measured at fair value on a non-recurring basis as of June 30, 2020 consist of technology-related intangible assets and other assets, as disclosed in Note 4, "Goodwill and Intangible Assets, Net."
Schedule of facilities available for the use of the company and its subsidiaries	The following facilities were available to the Company as of June 30, 2020 and are presented net of any outstanding letters of credit: (In millions) Remaining Availability Under Non-Vehicle Debt Senior RCF (1) $ — $ — Letter of Credit Facility (1) — — Alternative Letter of Credit Facility (1) — — Total Non-Vehicle Debt — — Vehicle Debt U.S. Vehicle RCF (1) — — HVF II U.S. Vehicle Variable Funding Notes (1) — — HFLF Variable Funding Notes (1) — — European ABS 49 — Hertz Canadian Securitization (1) — — Donlen Canadian Securitization 2 — Australian Securitization 7 — U.K. Financing Facility 37 — New Zealand RCF 3 2 Total Vehicle Debt 98 2 Total $ 98 $ 2 (1) As a result of the filing of the Chapter 11 Cases, there is no longer remaining capacity or availability under these facilities, as such were terminated.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Operating Lease, Lease Income	perating lease income and other income included in total revenues in the accompanying condensed consolidated statements of operations: Three Months Ended Six Months Ended (In millions) 2020 2019 2020 2019 Operating lease income from vehicle rentals $ 604 $ 2,208 $ 2,241 $ 4,041 Operating lease income from fleet leasing 161 168 330 326 Variable operating lease income 1 43 34 77 Revenue accounted for under Topic 842 766 2,419 2,605 4,444 Revenue accounted for under Topic 606 66 92 150 174 Total revenues $ 832 $ 2,511 $ 2,755 $ 4,618

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring and Related Costs	estructuring charges under this program: (In millions) Three Months Ended Six Months Ended Termination charges: Direct vehicle and operating $ 25 $ 25 Selling, general and administrative 12 12 Total $ 37 $ 37 (In millions) Three Months Ended Six Months Ended Termination charges: U.S. Rental Car Segment $ 34 $ 34 Corporate operations 3 3 Total $ 37 37 The following table summarizes the activity affecting the restructuring accrual, which is recorded in accrued liabilities in the accompanying unaudited condensed consolidated balance sheet, during the six months ended June 30, 2020. (In millions) Termination Balance as of December 31, 2019 $ 1 Charges incurred 37 Cash payments (22) Liabilities subject to compromise (1) (7) Balance as of June 30, 2020 $ 9 (1) As a result of filing the Chapter 11 Cases, as disclosed in Note 1, "Background," the Company classified $7 million of restructuring charges as liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020. See Note 15, "Liabilities Subject to Compromise".

Earnings (Loss) Per Share - H_2

Earnings (Loss) Per Share - Hertz Global (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted earnings (loss) per share: Three Months Ended Six Months Ended (In millions, except per share data) 2020 2019 2020 2019 Numerator: Net income (loss) attributable to Hertz Global $ (847) $ 38 $ (1,203) $ (108) Denominator: Basic weighted-average shares outstanding (excluding the impact of the Rights Offering) 144 84 143 84 Rights Offering adjustment (1) — 12 — 12 Basic weighted-average shares outstanding 144 96 143 96 Dilutive stock options, RSUs and PSUs — 1 — — Diluted weighted-average shares outstanding 144 97 143 96 Antidilutive stock options, RSUs, PSUs and PSAs 2 1 2 2 Earnings (loss) per share: Basic earnings (loss) per share $ (5.86) $ 0.40 $ (8.39) $ (1.13) Diluted earnings (loss) per share $ (5.86) $ 0.40 $ (8.39) $ (1.13) (1) Reflects the impact of the Rights Offering subscription period.

Employee Retirement Benefits (T

Employee Retirement Benefits (Tables)	6 Months Ended
	Jun. 30, 2020
Postemployment Benefits [Abstract]
Schedule of Net Benefit Costs	The following table sets forth the net periodic pension cost of the Hertz Retirement Plan and the Supplemental Plans (collectively, the "U.S. Plan"), which is included in other (income) expense, net in the accompanying unaudited condensed consolidated statements of operations, excluding service cost which is included in direct vehicle and operating expense. Due to settlement accounting, the discount rate for the U.S. Plan has been revised from a weighted average rate of 3.1% as of December 31, 2019 to 2.5% as of July 1, 2020. U.S. Plan Three Months Ended June 30, Six Months Ended June 30, (in millions) 2020 2019 2020 2019 Service cost $ — $ — $ — $ — Interest cost 4 5 8 11 Expected return on plan assets (5) (6) (10) (11) Net amortizations 1 2 2 3 Settlement loss (1) 4 — 4 — Net pension expense (benefit) $ 4 $ 1 $ 4 $ 3 (1) The Company incurred $4 million in settlement charges primarily associated with a restructuring program that commenced in the second quarter of 2020. See Note 7, "Restructuring".

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Cash, Cash Equivalents and Investments	The following table summarizes the ending balances of the Company's cash equivalents, restricted cash equivalents and investments: June 30, 2020 December 31, 2019 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Money market funds and time deposits $ 1,055 $ — $ — $ 1,055 $ 531 $ — $ — $ 531 Marketable securities — — — — 74 — — 74
Components of debt	The Company's debt, including its available credit facilities, consists of the following ($ in millions): Facility Weighted-Average Interest Rate Fixed or Maturity June 30, December 31, Non-Vehicle Debt Senior Term Loan (1) Floating 6/2023 $ — $ 660 Senior RCF (1) Floating 6/2021 — — Senior Notes (1)(2) Fixed 10/2022-1/2028 — 2,700 Senior Second Priority Secured Notes (1) Fixed 6/2022 — 350 Promissory Notes (1) Fixed 1/2028 — 27 Alternative Letter of Credit Facility 3.25% Floating 11/2023 36 — Senior RCF Letter of Credit Facility 3.25% Floating 6/2021 2 — Other Non-Vehicle Debt 6.75% Fixed Various 20 18 Unamortized Debt Issuance Costs and Net (Discount) Premium — (34) Total Non-Vehicle Debt Not Subject to Compromise 58 3,721 Non-Vehicle Debt Subject to Compromise Senior Term Loan 3.51% Floating 6/2023 656 — Senior RCF 4.08% Floating 6/2021 615 — Senior Notes (2) 6.11% Fixed 10/2022-1/2028 2,700 — Senior Second Priority Secured Notes 7.63% Fixed 6/2022 350 — Promissory Notes 7.00% Fixed 1/2028 27 — Unamortized Debt Issuance Costs and Net (Discount) Premium (36) — Total Non-Vehicle Debt Subject to Compromise 4,312 — Vehicle Debt HVF II U.S. ABS Program HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A (3)(6) 3.46% Floating 3/2022 4,148 2,644 4,148 2,644 HVF II U.S. Vehicle Medium Term Notes HVF II Series 2015-1 (3) N/A Fixed 3/2020 — 780 HVF II Series 2015-3 (3) 3.17% Fixed 9/2020 319 371 HVF II Series 2016-2 (3) 3.48% Fixed 3/2021 512 595 HVF II Series 2016-4 (3) 3.16% Fixed 7/2021 365 424 HVF II Series 2017-1 (3) 3.45% Fixed 10/2020 387 450 HVF II Series 2017-2 (3) 3.82% Fixed 10/2022 318 350 Facility Weighted-Average Interest Rate Fixed or Maturity June 30, December 31, HVF II Series 2018-1 (3) 3.58% Fixed 2/2023 910 1,000 HVF II Series 2018-2 (3) 3.99% Fixed 6/2021 183 200 HVF II Series 2018-3 (3) 4.33% Fixed 7/2023 183 200 HVF II Series 2019-1 (3) 4.05% Fixed 3/2022 641 700 HVF II Series 2019-2 (3) 3.71% Fixed 5/2024 687 750 HVF II Series 2019-3 (3) 2.95% Fixed 12/2024 687 800 5,192 6,620 Donlen U.S. ABS Program HFLF Variable Funding Notes HFLF Series 2013-2 (4)(6) 6.10% Floating 7/2020-10/2022 475 286 475 286 HFLF Medium Term Notes HFLF Series 2016-1 (4) N/A Both 1/2020-2/2020 — 34 HFLF Series 2017-1 (4) 2.51% Both 7/2020-11/2022 139 229 HFLF Series 2018-1 (4) 2.59% Both 7/2020-11/2022 353 462 HFLF Series 2019-1 (4) 2.23% Both 7/2020-11/2022 552 650 1,044 1,375 Vehicle Debt - Other U.S. Vehicle RCF 5.73% Floating 6/2021 93 146 European Vehicle Notes (5) 5.07% Fixed 10/2021-3/2023 813 810 European ABS (3) 1.60% Floating 11/2021 624 766 Hertz Canadian Securitization (3)(6) 3.73% Floating 3/2021 170 241 Donlen Canadian Securitization (3) 2.31% Floating 12/2022 25 24 Australian Securitization (3) 1.74% Floating 6/2021 137 177 New Zealand RCF 2.93% Floating 6/2021 45 50 U.K. Financing Facility 3.05% Floating 7/2020-2/2023 210 247 Other Vehicle Debt 3.61% Floating 7/2020-11/2024 23 29 2,140 2,490 Unamortized Debt Issuance Costs and Net (Discount) Premium (75) (47) Total Vehicle Debt Not Subject to Compromise 12,924 13,368 Total Debt Not Subject to Compromise $ 12,982 $ 17,089 N/A - Not applicable (1) As a result of filing the Chapter 11 Cases, certain debt was classified as liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020. The weighted-average interest rate for such debt is disclosed in subsequent rows under "non-vehicle debt subject to compromise". (2) References to the "Senior Notes" include the series of Hertz's unsecured senior notes set forth in the table below which are included in liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020. Outstanding principal amounts for each such series of the Senior Notes is also specified below: (In millions) Outstanding Principal Senior Notes June 30, 2020 December 31, 2019 6.250% Senior Notes due October 2022 500 500 5.500% Senior Notes due October 2024 800 800 7.125% Senior Notes due August 2026 500 500 6.000% Senior Notes due January 2028 900 900 $ 2,700 $ 2,700 (3) Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness originally expected the outstanding principal of the relevant indebtedness to be repaid in full. The legal final maturity date is the date on which the outstanding principal of the relevant indebtedness is legally due and payable in full. The expected maturity of debt under amortization, as described below, is based upon the sale of the underlying vehicles or the refinancing of the current debt. (4) In the case of the Hertz Fleet Lease Funding LP ("HFLF") Medium Term Notes, such notes are repayable from cash flows derived from third-party leases comprising the underlying HFLF collateral pool. As a result of the Chapter 11 Cases and the resulting amortization events, as described below, the revolving period for all series were terminated, and are amortizing monthly by an amount equal to the lease collections payable to that series and the maturity date referenced for each series of HFLF Medium Term Notes represents the date by which Hertz expects such series of notes to be repaid in full, which is based upon the contractual amortization of the underlying leases as well as the assumed rate of prepayments of such leases. Such maturity reference is to the “expected final maturity date” as opposed to the subsequent “legal final maturity date.” The legal final maturity date is the date on which the relevant indebtedness is legally due and payable. Although the underlying lease cash flows that support the repayment of the HFLF Medium Term Notes may vary, the cash flows generally are expected to approximate a straight-line amortization of the related notes from the initial maturity date through the expected final maturity date. (5) References to the "European Vehicle Notes" include the series of Hertz Holdings Netherlands B.V.'s, an indirect wholly-owned subsidiary of Hertz organized under the laws of the Netherlands, unsecured senior notes (converted from Euros to U.S. dollars at a rate of 1.12 to 1 as of June 30, 2020 and December 31, 2019, respectively), set forth in the table below. Outstanding principal amounts for each such series of the European Vehicle Notes is also specified below: (In millions) Outstanding Principal European Vehicle Notes June 30, 2020 December 31, 2019 4.125% Senior Notes due October 2021 $ 252 $ 251 5.500% Senior Notes due March 2023 561 559 $ 813 $ 810 In March 2020, HVF II sold the below notes, which it had acquired at the time of the respective initial offerings and which were previously eliminated in consolidation, to third parties. (In millions) Aggregate Principal Amount HVF II Series 2017-2 Class D Notes $ 20 HVF II Series 2018-1 Class D Notes 58 HVF II Series 2018-2 Class D Notes 13 HVF II Series 2018-3 Class D Notes 13 HVF II Series 2019-1 Class D Notes 45 HVF II Series 2019-2 Class D Notes 49 Total $ 198 The fair value of debt is estimated based on quoted market rates as well as borrowing rates currently available to the Company for loans with similar terms and average maturities (i.e., Level 2 inputs). As of June 30, 2020 As of December 31, 2019 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value (1) Nominal Unpaid Principal Balance Aggregate Fair Value Non-Vehicle Debt (2) $ 4,406 $ 1,738 $ 3,755 $ 3,840 Vehicle Debt 12,999 12,660 13,415 13,529 Total $ 17,405 $ 14,398 $ 17,170 $ 17,369 (1) The decrease in the aggregate fair value of the Company's debt is due to the impact from COVID-19 and the filing of the Chapter 11 Cases, as disclosed in Note 1, "Background." (2) Includes Non-Vehicle Debt included in liabilities subject to compromise in the accompanying balance sheet as of June 30, 2020. See Note 5, "Debt." Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis Assets and liabilities measured at fair value on a non-recurring basis as of June 30, 2020 consist of technology-related intangible assets and other assets, as disclosed in Note 4, "Goodwill and Intangible Assets, Net."

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables provide significant statements of operations and balance sheet information by reportable segment for each of Hertz Global and Hertz, as well as Adjusted EBITDA, the measure used to determine segment profitability. Three Months Ended Six Months Ended (In millions) 2020 2019 2020 2019 Revenues U.S. Rental Car $ 533 $ 1,784 $ 1,914 $ 3,304 International Rental Car 135 560 502 993 All Other Operations (1) 164 167 339 321 Total Hertz Global and Hertz $ 832 $ 2,511 $ 2,755 $ 4,618 Depreciation of revenue earning vehicles and lease charges U.S. Rental Car $ 408 $ 411 $ 871 $ 797 International Rental Car 81 106 170 203 All Other Operations 121 117 245 226 Total Hertz Global and Hertz $ 610 $ 634 $ 1,286 $ 1,226 Adjusted EBITDA U.S. Rental Car $ (470) $ 156 $ (668) $ 163 International Rental Car (127) 56 (172) 42 All Other Operations 23 24 48 45 Corporate (13) (29) (38) (47) Total Hertz Global and Hertz $ (587) $ 207 $ (830) $ 203 (1) Certain amounts have been adjusted due to rounding. (In millions) June 30, 2020 December 31, 2019 Total assets U.S. Rental Car $ 15,614 $ 16,459 International Rental Car 3,783 4,563 All Other Operations 1,970 2,115 Corporate 1,749 1,490 Total Hertz Global (1) 23,116 24,627 Corporate - Hertz (2) (29) — Total Hertz (1) $ 23,087 $ 24,627 (1) The consolidated total assets of Hertz Global and Hertz as of June 30, 2020 and December 31, 2019 include total assets of VIEs of $986 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. See "Special Purpose Entities" in Note 5, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information. (2) Excludes net proceeds from the ATM Program of $29 million as disclosed in Note 9, "Earnings (Loss) Per Share - Hertz Global." Reconciliations of Adjusted EBITDA by reportable segment to consolidated amounts are summarized below: Hertz Global Three Months Ended Six Months Ended (In millions) 2020 2019 2020 2019 Adjusted EBITDA: U.S. Rental Car $ (470) $ 156 $ (668) $ 163 International Rental Car (127) 56 (172) 42 All Other Operations 23 24 48 45 Total reportable segments (574) 236 (792) 250 Corporate (1) (13) (29) (38) (47) Total Hertz Global (587) 207 (830) 203 Adjustments: Non-vehicle depreciation and amortization (57) (51) (110) (99) Non-vehicle debt interest, net (44) (72) (101) (144) Vehicle debt-related charges (2) (15) (9) (24) (19) Restructuring and restructuring related charges (3) (41) (4) (47) (10) Technology-related intangible and other asset impairments (4) (193) — (193) — Information technology and finance transformation costs (5) (8) (38) (25) (60) Reorganization items, net (6) (23) — (23) — Pre-reorganization charges and non-debtor financing charges (7) (45) — (45) — Other items (8) (31) 11 (7) 25 Income (loss) before income taxes $ (1,044) $ 44 $ (1,405) $ (104) Hertz Three Months Ended Six Months Ended (In millions) 2020 2019 2020 2019 Adjusted EBITDA: U.S. Rental Car $ (470) $ 156 $ (668) $ 163 International Rental Car (127) 56 (172) 42 All Other Operations 23 24 48 45 Total reportable segments (574) 236 (792) 250 Corporate (1) (13) (29) (38) (47) Total Hertz Global (587) 207 (830) 203 Adjustments: Non-vehicle depreciation and amortization (57) (51) (110) (99) Non-vehicle debt interest, net (43) (70) (99) (141) Vehicle debt-related charges (2) (15) (9) (24) (19) Restructuring and restructuring related charges (3) (41) (4) (47) (10) Technology-related intangible and other asset impairments (4) (193) — (193) — Write-off of intercompany loan (9) (133) — (133) — Information technology and finance transformation costs (5) (8) (38) (25) (60) Reorganization items, net (6) (23) — (23) — Pre-reorganization charges and non-debtor financing charges (7) (45) — (45) — Other items (8) (31) 11 (7) 25 Income (loss) before income taxes $ (1,176) $ 46 $ (1,536) $ (101) (1) Represents other reconciling items primarily consisting of general corporate expenses, non-vehicle interest expense, as well as other business activities. (2) Represents vehicle debt-related charges relating to the amortization of deferred financing costs and debt discounts and premiums. (3) Represents charges incurred under restructuring actions as defined in U.S. GAAP. See Note 7, "Restructuring" for further information. Also includes restructuring related charges such as incremental costs incurred directly supporting business transformation initiatives. (4) Represents the impairment of technology-related intangible assets and capitalized cloud computing implementation costs, as disclosed in Note 4, "Goodwill and Intangible Assets, Net." (5) Represents costs associated with the Company’s information technology and finance transformation programs, both of which are multi-year initiatives to upgrade and modernize the Company’s systems and processes. (6) Represents charges incurred associated with the filing of the Chapter 11 Cases, as disclosed in Note 16, "Reorganization Items, Net," including professional fees. (7) Represents charges incurred prior to the filing of the Chapter 11 Cases, as disclosed in Note 1, "Background," which are comprised of preparation charges for the reorganization, such as professional fees and certain non-debtor financing charges. (8) Represents miscellaneous items, including non-cash stock-based compensation charges, and amounts attributable to noncontrolling interests. In 2020, also includes a $20 million gain on the sale of non-vehicle capital assets, which was recorded in the first quarter, partially offset by second quarter charges of $18 million for losses associated with certain vehicle damages. In 2019, includes a $20 million gain on marketable securities, of which $9 million was recorded in the second quarter, and a $12 million gain on the sale of non-vehicle capital assets, of which $4 million was recorded in the second quarter. (9) Represents the write-off of the 2019 Master Loan between Hertz and Hertz Holdings, as disclosed in Note 13, "Related Party Transactions."

Liabilities Subject to Compro_2

Liabilities Subject to Compromise (Tables)	6 Months Ended
	Jun. 30, 2020
Reorganizations [Abstract]
Schedule of Liabilities Subject to Compromise	The following table summarizes liabilities subject to compromise: (In millions) June 30, 2020 Accounts payable $ 301 Accrued liabilities 226 Accrued taxes, net 27 Accrued interest on debt subject to compromise 46 Debt subject to compromise (1) 4,312 Liabilities subject to compromise - Hertz Global $ 4,912 Due from Affiliate - Hertz (2) 65 Liabilities subject to compromise - Hertz $ 4,977 (1) See Note 5, "Debt" for details of pre-petition, non-vehicle debt reported as liabilities subject to compromise as of June 30, 2020. (2) See Note 13, "Related Party Transactions" for details of a pre-petition intercompany loan due to an affiliate reported as liabilities subject to compromise as of June 30, 2020.

Reorganizations (Tables)

Reorganizations (Tables)	6 Months Ended
	Jun. 30, 2020
Reorganizations [Abstract]
Schedule of Debtor Reorganization Items	primarily for professional fees, all of which are unpaid as of June 30, 2020, and recorded in accrued liabilities in the accompanying unaudited condensed consolidated balance sheet as of June 30, 2020.

Condensed Combined Debtor in _2

Condensed Combined Debtor in Possession Financial Information (Tables)	6 Months Ended
	Jun. 30, 2020
Guarantor and Non-Guarantor Condensed Consolidating Financial Statements Disclosure [Abstract]
Condensed Balance Sheet	THE DEBTORS CONDENSED COMBINED BALANCE SHEET (in millions) June 30, 2020 ASSETS Cash and cash equivalents $ 875 Restricted cash and cash equivalents 382 Total cash, cash equivalents, restricted cash and restricted cash equivalents 1,257 Receivables, net 454 Due from non-debtor affiliates 50,004 Prepaid expenses and other assets 629 Revenue earning vehicles, net 179 Property and equipment, net 633 Operating lease right-of-use assets 1,450 Investment in subsidiaries, net 4,458 Intangible assets, net 3,084 Goodwill 524 Total assets $ 62,672 LIABILITIES AND EQUITY Accounts payable $ — Due to non-debtor affiliates 242 Accrued liabilities 506 Accrued taxes, net 19 Debt 150 Operating lease liabilities 1,422 Self-insured liabilities 263 Deferred income taxes, net — Total liabilities not subject to compromise 2,602 Liabilities subject to compromise 59,511 Total liabilities 62,113 Total equity attributable to the Debtors 559 Total liabilities and equity $ 62,672
Condensed Income Statement	THE DEBTORS CONDENSED COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (in millions) Three Months Ended Six Months Ended Total revenues $ 537 $ 1,873 Expenses: Direct vehicle and operating 572 1,554 Depreciation of revenue earning vehicles and lease charges 667 2,364 Selling, general and administrative 126 297 Interest (income) expense, net 37 88 Technology-related intangible and other asset impairments 193 193 Other (income) expense, net 3 (18) Reorganization items, net 23 23 Total expenses 1,621 4,501 Income (loss) before income taxes and equity in earnings (losses) of non-debtor entities (1,084) (2,628) Income tax (provision) benefit 229 527 Equity in earnings (losses) of non-debtor entities 6 898 Net income (loss) (849) (1,203) Total other comprehensive income (loss), net of tax 7 (32) Comprehensive income (loss) attributable to the Debtors $ (842) $ (1,235)
Condensed Cash Flow Statement	THE DEBTORS CONDENSED COMBINED STATEMENT OF CASH FLOWS (in millions) Six Months Ended Net cash provided by (used in) operating activities $ (26) Cash flows from investing activities: Revenue earning vehicles expenditures (460) Proceeds from disposal of revenue earning vehicles 433 Non-vehicle capital asset expenditures (64) Proceeds from non-vehicle capital assets disposed of or to be disposed of 49 Sales of marketable securities 74 Capital contributions to non-debtor entities (741) Return of capital from non-debtor entities 838 Loan to non-debtor entity (180) Loan repayment from non-debtor entity 189 Net cash provided by (used in) investing activities 138 Cash flows from financing activities: Proceeds from issuance of vehicle debt 321 Repayments of vehicle debt (374) Proceeds from issuance of non-vehicle debt 1,498 Repayments of non-vehicle debt (853) Proceeds from the issuance of stock, net 29 Other (2) Net cash provided by (used in) financing activities 619 Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period 731 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 526 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ 1,257

Background (Details)

Background (Details) $ in Millions	1 Months Ended	2 Months Ended	6 Months Ended	7 Months Ended
	Mar. 31, 2020employee	Jul. 31, 2020numberOfVehicles	Dec. 31, 2020USD ($)employee	Dec. 31, 2020numberOfVehicles	Jul. 24, 2020USD ($)	Jun. 30, 2020USD ($)	May 04, 2020USD ($)	Feb. 25, 2020USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Cash and cash equivalents						$ 1,366			$ 865
Forbearance and waiver agreement payment							$ 30
Forecast [Member] | U.S. Rental Car
Debt Instrument [Line Items]
Restructuring and Related Cost, Decrease in Purchase Commitments			$ 4,000
HVF II Series 2013-A
Debt Instrument [Line Items]
Outstanding principal								$ 4,900
Forbearance agreement, aggregate principal amount of notes, percent							77.00%
Letter of Credit
Debt Instrument [Line Items]
Outstanding standby letters of credit						$ 746
Subsequent Event
Debt Instrument [Line Items]
Liabilities Subject to Compromise, Payments under Bankruptcy Court Order for Operating Lease					$ 650
Subsequent Event | Forecast [Member]
Debt Instrument [Line Items]
Liabilities Subject to Compromise, Number of Payments under Bankruptcy Court Order for Operating Lease | employee			6
Liabilities Subject to Compromise, Monthly Payments under Bankruptcy Court Order for Operating Lease			$ 108
Bankruptcy Proceedings, Number of Vehicles Required to be Disposed of under Bankruptcy Court Order | numberOfVehicles				182,521
Bankruptcy Proceedings, Description of Proceedings, Number of Vehicles Disposed Under Bankruptcy Court Order, Actual | numberOfVehicles		100,000
Restructuring Plan, Impact of COVID-19 | Other Restructuring
Debt Instrument [Line Items]
Number of positions eliminated | employee	20,000
Restructuring Plan, Impact of COVID-19 | Other Restructuring | U.S. Rental Car Segment and US Corporate Operations [Member]
Debt Instrument [Line Items]
Number of positions eliminated | employee	11,000

Divestitures (Details)

Divestitures (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2020	Jun. 30, 2020	Jun. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Marketable securities, gain (loss)		$ 0	$ 20
Other Operating Income (Expense)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Marketable securities, gain (loss)	$ (74)
Non-vehicle Capital Assets | Other Operating Income (Expense)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of productive assets	$ 20

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
Default Rate
Finite-Lived Intangible Assets [Line Items]
Discount rate	1.00%
Minimum | Discount Rate
Finite-Lived Intangible Assets [Line Items]
Discount rate	12.50%
Maximum | Discount Rate
Finite-Lived Intangible Assets [Line Items]
Discount rate	13.00%
U.S. Rental Car
Finite-Lived Intangible Assets [Line Items]
Impairment charge	$ 193
Trade Names | U.S. Rental Car
Finite-Lived Intangible Assets [Line Items]
Fair value in excess of carrying amount	3.00%
Reporting unit, amount of fair value in excess of carrying amount	$ 934
Trade Names | International Rental Car
Finite-Lived Intangible Assets [Line Items]
Fair value in excess of carrying amount	18.00%
Reporting unit, amount of fair value in excess of carrying amount	$ 560
Technology-Related Intangible Assets [Member] | U.S. Rental Car
Finite-Lived Intangible Assets [Line Items]
Impairment charge	124
Other Assets [Member] | U.S. Rental Car
Finite-Lived Intangible Assets [Line Items]
Impairment charge	$ 69

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) $ in Millions	3 Months Ended
	Jun. 30, 2020USD ($)€ / $	Feb. 25, 2020USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Debt:	$ 12,982		$ 17,089
Debt subject to compromise	4,312
Total liabilities not subject to compromise	17,531		22,739
Vehicles
Debt Instrument [Line Items]
Debt:	12,924		13,368
Non-vehicle
Debt Instrument [Line Items]
Outstanding principal	58		3,721
Debt:	58		3,721
Liabilities Subject Compromise, Unamortized Discount (Premium), Net	36		0
Debt subject to compromise	4,312		0
Corporate Debt Securities | Non-vehicle
Debt Instrument [Line Items]
Unamortized Net Discount	$ 0		(34)
Senior Term Loan | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.51%
Outstanding principal	$ 0		660
Liabilities subject to compromise	$ 656		0
Senior RCF | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.08%
Outstanding principal	$ 0		0
Liabilities subject to compromise	615		0
Senior Notes
Debt Instrument [Line Items]
Outstanding principal	$ 2,700		2,700
Senior Notes | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.11%
Outstanding principal	$ 0		2,700
Liabilities subject to compromise	$ 2,700		0
Promissory Notes | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	7.00%
Outstanding principal	$ 0		27
Liabilities subject to compromise	$ 27		0
Senior Second Priority Secured Notes | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	7.63%
Outstanding principal	$ 0		350
Liabilities subject to compromise	$ 350		0
Alternative Letter of Credit Facility, 3.25%, Due November 2023 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.25%
Outstanding principal	$ 36		0
Senior RCF Letter of Credit Facility, 3.25%, Due June 2021 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.25%
Outstanding principal	$ 2		0
Non-Vehicle Debt | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.75%
Outstanding principal	$ 20		18
Senior Notes, 7.125%, Due 2026
Debt Instrument [Line Items]
Outstanding principal	$ 500		500
Interest rate	7.125%
Senior Notes, 6.00%, Due January 2028
Debt Instrument [Line Items]
Outstanding principal	$ 900		900
Fleet Debt
Debt Instrument [Line Items]
Unamortized Net Discount	(75)		(47)
Debt:	12,924		13,368
Total | Non-vehicle
Debt Instrument [Line Items]
Outstanding principal	$ 4,148		2,644
HVF II Series 2013-A
Debt Instrument [Line Items]
Outstanding principal		$ 4,900
HVF II Series 2013-A | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.46%
Outstanding principal	$ 4,148		2,644
HVF II U.S. Fleet Variable Medium Term Notes | Non-vehicle
Debt Instrument [Line Items]
Outstanding principal	5,192		6,620
U.S. Fleet Medium Term Notes 2015 Series 1 | Non-vehicle
Debt Instrument [Line Items]
Outstanding principal	$ 0		780
U.S. Fleet Medium Term Notes 2015 Series 3 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.17%
Outstanding principal	$ 319		371
U.S. Fleet Medium Term Notes 2016 Series 2 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.48%
Outstanding principal	$ 512		595
U.S. Fleet Medium Term Notes 2016 Series 4 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.16%
Outstanding principal	$ 365		424
U.S. Fleet Medium Term Notes 2017 Series 1 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.45%
Outstanding principal	$ 387		450
U.S. Fleet Medium Term Notes 2017 Series 2 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.82%
Outstanding principal	$ 318		350
U.S. Fleet Medium Term Notes 2018 Series 1 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.58%
Outstanding principal	$ 910		1,000
U.S. Fleet Medium Term Notes 2018 Series 2 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.99%
Outstanding principal	$ 183		200
U.S. Fleet Medium Term Notes 2018 Series 3 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.33%
Outstanding principal	$ 183		200
U.S. Fleet Medium Term Notes 2019 Series 1 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.05%
Outstanding principal	$ 641		700
U.S. Fleet Medium Term Notes 2019 Series 2 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.71%
Outstanding principal	$ 687		750
U.S Fleet Medium Term Notes 2019 Series 3 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.95%
Outstanding principal	$ 687		800
Donlen ABS Program | Non-vehicle
Debt Instrument [Line Items]
Outstanding principal	$ 475		286
HFLF Series 2013-2 Notes | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.10%
Outstanding principal	$ 475		286
HFLF Medium Term Notes | Non-vehicle
Debt Instrument [Line Items]
Outstanding principal	1,044		1,375
HFLF Series 2016-1 | Non-vehicle
Debt Instrument [Line Items]
Outstanding principal	$ 0		34
HFLF Series 2017-1 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.51%
Outstanding principal	$ 139		229
HFLF Series 2018-1 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.59%
Outstanding principal	$ 353		462
HFLF Series 2019-1 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.23%
Outstanding principal	$ 552		650
Other Fleet Debt | Non-vehicle
Debt Instrument [Line Items]
Outstanding principal	$ 2,140		2,490
US Vehicle RCF | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.73%
Outstanding principal	$ 93		146
European Fleet Notes
Debt Instrument [Line Items]
Outstanding principal	$ 813		810
Foreign currency exchange rate (EURO to USD) | € / $	1.12
European Fleet Notes | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.07%
Outstanding principal	$ 813		810
4.125% Senior Notes due October 2021
Debt Instrument [Line Items]
Outstanding principal	$ 252		251
Interest rate	4.125%
European Fleet Notes, 5.500%, Due March 2023
Debt Instrument [Line Items]
Outstanding principal	$ 561		559
Interest rate	5.50%
European Securitization | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.60%
Outstanding principal	$ 624		766
Canadian Securitization | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.73%
Outstanding principal	$ 170		241
Donlen Canadian Securitization, Due December 2022 | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.31%
Outstanding principal	$ 25		24
Australian Securitization | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.74%
Outstanding principal	$ 137		177
New Zealand Revolving Credit Facility | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.93%
Outstanding principal	$ 45		50
UK Leveraged Financing | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.05%
Outstanding principal	$ 210		247
Other Vehicle Debt | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.61%
Outstanding principal	$ 23		29
Senior Assets Based Line of Credit Facility
Debt Instrument [Line Items]
Fixed charge coverage ratio, number of quarters	1 year
Senior Notes 6.250 Percent Due 2022 [Member]
Debt Instrument [Line Items]
Outstanding principal	$ 500		500
Interest rate	6.25%
5.500% Senior Notes due October 2024
Debt Instrument [Line Items]
Outstanding principal	$ 800		$ 800
Interest rate	5.50%

Debt (Narrative) (Details)

Debt (Narrative) (Details)		1 Months Ended		3 Months Ended		6 Months Ended
		Feb. 29, 2020USD ($)	Feb. 25, 2020USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020CAD ($)	Jun. 30, 2020AUD ($)	May 31, 2020EUR (€)	May 31, 2020CAD ($)	May 31, 2020AUD ($)	Mar. 31, 2020EUR (€)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Income (loss) before income taxes				$ (1,044,000,000)	$ 44,000,000	$ (1,405,000,000)	$ (104,000,000)
Availability under borrowing base limitation				2,000,000		2,000,000
Assets	[1]			23,116,000,000		23,116,000,000								$ 24,627,000,000
Liabilities				22,443,000,000		22,443,000,000								22,739,000,000
HFLF Medium Term Notes
Debt Instrument [Line Items]
Availability under borrowing base limitation				0		0
European Vehicle Notes
Debt Instrument [Line Items]
Outstanding principal				813,000,000		813,000,000								810,000,000
Senior Notes, 7.125%, Due 2026
Debt Instrument [Line Items]
Outstanding principal				$ 500,000,000		$ 500,000,000								500,000,000
Interest rate				7.125%		7.125%		7.125%	7.125%
European Securitization
Debt Instrument [Line Items]
Availability under borrowing base limitation				$ 0		$ 0
UK Leveraged Financing
Debt Instrument [Line Items]
Debt instrument, face amount									$ 200,000,000			$ 250,000,000
New Zealand Revolving Credit Facility
Debt Instrument [Line Items]
Availability under borrowing base limitation				2,000,000		2,000,000
Canadian Securitization
Debt Instrument [Line Items]
Availability under borrowing base limitation				0		0
Debt instrument, face amount								$ 37,000,000			$ 50,000,000
Senior Assets Based Line of Credit Facility
Debt Instrument [Line Items]
Availability under borrowing base limitation				$ 0		0
Fixed charge coverage ratio, number of quarters				1 year
5.500% Senior Notes due October 2024
Debt Instrument [Line Items]
Outstanding principal				$ 800,000,000		$ 800,000,000								800,000,000
Interest rate				5.50%		5.50%		5.50%	5.50%
US Vehicle RCF
Debt Instrument [Line Items]
Availability under borrowing base limitation				$ 0		$ 0
Fleet Debt
Debt Instrument [Line Items]
Availability under borrowing base limitation				2,000,000		2,000,000
HFLF Series 2013-2 Notes
Debt Instrument [Line Items]
Debt instrument, increase (decrease), net		$ 100,000,000
HFLF Series 2013-2 Notes, Due March 2022
Debt Instrument [Line Items]
Outstanding principal				600,000,000		600,000,000
4.125% Senior Notes due October 2021
Debt Instrument [Line Items]
Outstanding principal				$ 252,000,000		$ 252,000,000								251,000,000
Interest rate				4.125%		4.125%		4.125%	4.125%
Senior Notes
Debt Instrument [Line Items]
Outstanding principal				$ 2,700,000,000		$ 2,700,000,000								2,700,000,000
HVF II Series 2013-A
Debt Instrument [Line Items]
Debt instrument, increase (decrease), net			$ 750,000,000
Outstanding principal			4,900,000,000
HVF II Series 2013-A Notes, Due March 2021
Debt Instrument [Line Items]
Outstanding principal			$ 200,000,000
European Fleet Notes, 5.500%, Due March 2023
Debt Instrument [Line Items]
Outstanding principal				$ 561,000,000		$ 561,000,000								559,000,000
Interest rate				5.50%		5.50%		5.50%	5.50%
Debt instrument, face amount | €										€ 600,000,000			€ 1,100,000,000
Australian Securitization
Debt Instrument [Line Items]
Availability under borrowing base limitation				$ 0		$ 0
Debt instrument, face amount									$ 210,000,000			$ 270,000,000
Letter of Credit
Debt Instrument [Line Items]
Outstanding standby letters of credit				746,000,000		746,000,000
Vehicles
Debt Instrument [Line Items]
Repayments of debt						4,613,000,000	5,254,000,000
Proceeds from issuance of debt						4,174,000,000	8,267,000,000
Non-vehicle
Debt Instrument [Line Items]
Outstanding principal				58,000,000		58,000,000								3,721,000,000
Repayments of debt						853,000,000	823,000,000
Proceeds from issuance of debt						1,498,000,000	$ 815,000,000
Non-vehicle | HFLF Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal				1,044,000,000		1,044,000,000								1,375,000,000
Non-vehicle | European Vehicle Notes
Debt Instrument [Line Items]
Outstanding principal				813,000,000		813,000,000								810,000,000
Non-vehicle | European Securitization
Debt Instrument [Line Items]
Outstanding principal				624,000,000		624,000,000								766,000,000
Non-vehicle | UK Leveraged Financing
Debt Instrument [Line Items]
Outstanding principal				210,000,000		210,000,000								247,000,000
Non-vehicle | New Zealand Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding principal				45,000,000		45,000,000								50,000,000
Non-vehicle | Canadian Securitization
Debt Instrument [Line Items]
Outstanding principal				170,000,000		170,000,000								241,000,000
Non-vehicle | Senior RCF
Debt Instrument [Line Items]
Outstanding principal				0		0								0
Non-vehicle | Senior Term Loan
Debt Instrument [Line Items]
Outstanding principal				0		0								660,000,000
Non-vehicle | US Vehicle RCF
Debt Instrument [Line Items]
Outstanding principal				93,000,000		93,000,000								146,000,000
Non-vehicle | HFLF Series 2013-2 Notes
Debt Instrument [Line Items]
Outstanding principal				475,000,000		475,000,000								286,000,000
Non-vehicle | HFLF Series 2017-1
Debt Instrument [Line Items]
Outstanding principal				139,000,000		139,000,000								229,000,000
Non-vehicle | HFLF Series 2016-1
Debt Instrument [Line Items]
Outstanding principal				0		0								34,000,000
Non-vehicle | Senior Notes
Debt Instrument [Line Items]
Outstanding principal				0		0								2,700,000,000
Non-vehicle | HVF II Series 2013-A
Debt Instrument [Line Items]
Outstanding principal				4,148,000,000		4,148,000,000								2,644,000,000
Non-vehicle | HFLF Series 2018-1
Debt Instrument [Line Items]
Outstanding principal				353,000,000		353,000,000								462,000,000
Non-vehicle | Australian Securitization
Debt Instrument [Line Items]
Outstanding principal				137,000,000		137,000,000								177,000,000
Revolving Credit Facility | Senior RCF
Debt Instrument [Line Items]
Outstanding standby letters of credit				240,000,000		240,000,000
Letter of Credit
Debt Instrument [Line Items]
Availability under borrowing base limitation				299,000,000		299,000,000
Alternative Letter of Credit Facility
Debt Instrument [Line Items]
Availability under borrowing base limitation				200,000,000		$ 200,000,000
International Fleet Financing No. 2 B.V.
Debt Instrument [Line Items]
Ownership percentage						25.00%
Assets				870,000,000		$ 870,000,000								1,100,000,000
Liabilities				$ 870,000,000		$ 870,000,000								$ 1,100,000,000
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2020 and December 31, 2019 include total assets of variable interest entities (“VIEs”) of $986 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2020 and December 31, 2019 include total liabilities of VIEs of $873 million and $1.1 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Special Purpose Entities" in Note 5, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information.

Debt (Borrowing Capacity) (Deta

Debt (Borrowing Capacity) (Details) $ in Millions	Jun. 30, 2020USD ($)
Debt Instrument [Line Items]
Remaining capacity	$ 98
Availability under borrowing base limitation	2
Corporate Debt Securities
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
Senior Assets Based Line of Credit Facility
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
Letter of Credit
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
Alternative Letter of Credit Facility
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
Fleet Debt
Debt Instrument [Line Items]
Remaining capacity	98
Availability under borrowing base limitation	2
US Vehicle RCF
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
HVF II U.S. ABS Program
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
HFLF Medium Term Notes
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
European Securitization
Debt Instrument [Line Items]
Remaining capacity	49
Availability under borrowing base limitation	0
Canadian Securitization
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
Donlen Canadian Securitization
Debt Instrument [Line Items]
Remaining capacity	2
Availability under borrowing base limitation	0
Australian Securitization
Debt Instrument [Line Items]
Remaining capacity	7
Availability under borrowing base limitation	0
Us Fleet Financing Facility
Debt Instrument [Line Items]
Remaining capacity	37
Availability under borrowing base limitation	0
New Zealand Revolving Credit Facility
Debt Instrument [Line Items]
Remaining capacity	3
Availability under borrowing base limitation	$ 2

Debt (Covenant Ratios) (Details

Debt (Covenant Ratios) (Details)	Jun. 30, 2020
Senior Revolving Credit Facility and Letter of Credit Facility
Debt Instrument [Line Items]
Maximum consolidated leverage ratio	3

Debt (Eliminated in Consolidati

Debt (Eliminated in Consolidation) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2020USD ($)
HVF II Series 2017-2 Class D
Debt Instrument [Line Items]
Amounts of transaction	$ 20
HVF II Series 2018-1 Class D
Debt Instrument [Line Items]
Amounts of transaction	58
HVF II Series 2018-2 Class D Notes
Debt Instrument [Line Items]
Amounts of transaction	13
HVF II Series 2018-3 Class D Notes
Debt Instrument [Line Items]
Amounts of transaction	13
HVF II Series 2019-1 Class D Notes
Debt Instrument [Line Items]
Amounts of transaction	45
HVF II Series 2019-2 Class D Notes
Debt Instrument [Line Items]
Amounts of transaction	49
HVF II Series Class D Notes
Debt Instrument [Line Items]
Amounts of transaction	$ 198

Leases - Lease Income (Details)

Leases - Lease Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Operating Lease, Lease Income [Abstract]
Revenue accounted for under Topic 842	$ 766	$ 2,419	$ 2,605	$ 4,444
Revenue accounted for under Topic 606	66	92	150	174
Total revenues	832	2,511	2,755	4,618
Restructuring Plan, Impact of COVID-19 | Rent Abatement and Payment Deferrals [Member]
Operating Lease, Lease Income [Abstract]
Decrease in rent expense from concessions, abatement and payment deferrals	30		33
Vehicle Rentals, Operating Lease
Operating Lease, Lease Income [Abstract]
Revenue accounted for under Topic 842	604	2,208	2,241	4,041
Fleet Leasing, Operating Lease
Operating Lease, Lease Income [Abstract]
Revenue accounted for under Topic 842	161	168	330	326
Variable, Operating Lease
Operating Lease, Lease Income [Abstract]
Revenue accounted for under Topic 842	$ 1	$ 43	$ 34	$ 77

Restructuring - Narrative (Deta

Restructuring - Narrative (Details) - Restructuring Plan, Impact of COVID-19 $ in Millions	1 Months Ended	3 Months Ended	6 Months Ended
	Mar. 31, 2020employee	Jun. 30, 2020USD ($)	Jun. 30, 2020USD ($)
Employee Severance
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 37	$ 37
Severance Costs		37
Employee Severance | Direct Vehicle and Operating
Restructuring Cost and Reserve [Line Items]
Restructuring costs		25	25
Employee Severance | Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring costs		12	12
Employee Severance | Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs		3	3
Employee Severance | U.S. Rental Car
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 34	$ 34
Other Restructuring
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated | employee	20,000
Other Restructuring | U.S. Rental Car Segment and US Corporate Operations [Member]
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated | employee	11,000

Restructuring - Termination Cha

Restructuring - Termination Charges (Details) - Restructuring Plan, Impact of COVID-19 - Employee Severance - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 37	$ 37
Corporate, Non-Segment
Restructuring Cost and Reserve [Line Items]
Restructuring costs	3	3
U.S. Rental Car
Restructuring Cost and Reserve [Line Items]
Restructuring costs	34	34
Direct Vehicle and Operating
Restructuring Cost and Reserve [Line Items]
Restructuring costs	25	25
Selling, General and Administrative Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 12	$ 12

Restructuring - Accrued Liabili

Restructuring - Accrued Liabilities (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Restructuring Reserve [Roll Forward]
Liabilities subject to compromise	$ (4,912)	$ 0
Employee Severance | Restructuring Plan, Impact of COVID-19
Restructuring Reserve [Roll Forward]
Beginning balance	1
Restructuring Charges	37
Payments for Restructuring	(22)
Liabilities subject to compromise	(7)
Ending balance	$ 9

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Contingency [Line Items]
Effective tax rate (as percent)	18.00%	(9.00%)	14.00%	(3.00%)
Income tax (provision) benefit	$ 192	$ (4)	$ 196	$ (3)
The Hertz Corporation
Income Tax Contingency [Line Items]
Effective tax rate (as percent)	19.00%	(11.00%)	15.00%	(4.00%)
Income tax (provision) benefit	$ 219	$ (5)	$ 224	$ (4)

Earnings (Loss) Per Share - H_3

Earnings (Loss) Per Share - Hertz Global (Details) - USD ($)	Jun. 18, 2020	Jul. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Jun. 15, 2020	Dec. 31, 2019	Jun. 12, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Subscription amount									$ 750,000,000
Aggregate subscriptions unissued									57,915,055
Stock issued (in shares)		57,915,055
Stock issued amount		$ 750,000,000	$ 29,000,000
Common stock, par value (in dollars per share)			$ 0.01		$ 0.01			$ 0.01
Numerator:
Net income (loss) attributable to Hertz Global			$ (847,000,000)	$ 38,000,000	$ (1,203,000,000)	$ (108,000,000)
Denominator:
Basic weighted-average shares outstanding (excluding the impact of the Rights Offering)			144,000,000	84,000,000	143,000,000	84,000,000
Rights Offering adjustment(1)			0	12,000,000	0	12,000,000
Basic weighted-average shares outstanding			144,000,000	96,000,000	143,000,000	96,000,000
Dilutive stock options, RSUs and PSUs			0	1,000,000	0	0
Diluted weighted-average shares outstanding			144,000,000	97,000,000	143,000,000	96,000,000
Earnings (loss) per share:
Basic earnings (loss) per share (in dollars per share)			$ (5.86)	$ 0.40	$ (8.39)	$ (1.13)
Diluted earnings (loss) per share (in dollars per share)			$ (5.86)	$ 0.40	$ (8.39)	$ (1.13)
ATM Program
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Subscription amount							$ 500,000,000
Stock issued (in shares)	13,912,368
Stock issued amount	$ 29,000,000
Common stock, par value (in dollars per share)							$ 0.01
Antidilutive stock options, RSUs and PSUs
Denominator:
Antidilutive stock options, RSUs, PSUs and PSAs			2,000,000	1,000,000	2,000,000	2,000,000

Employee Retirement Benefits (D

Employee Retirement Benefits (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Defined Benefit Plan Disclosure [Line Items]
Discount rate			2.50%		3.10%
Liabilities subject to compromise	$ 4,912		$ 4,912		$ 0
U.S. Plan | Pension Plan | Restructuring and restructuring related charges
Defined Benefit Plan Disclosure [Line Items]
Liabilities subject to compromise	24		24
U.S. Plan | Pension Plan | Continuing Operations
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	$ 0	0	$ 0
Interest cost	4	5	8	11
Expected return on plan assets	(5)	(6)	(10)	(11)
Net amortizations	1	2	2	3
Settlement loss	4	0	4	0
Net pension expense (benefit)	$ 4	$ 1	$ 4	$ 3

Fair Value Measurements (Cash a

Fair Value Measurements (Cash and Cash Equivalents and Investments) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Money market funds and time deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 1,055	$ 531
Money market funds and time deposits | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,055	531
Money market funds and time deposits | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Money market funds and time deposits | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Marketable securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	74
Marketable securities | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	74
Marketable securities | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Marketable securities | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 0	$ 0

Fair Value Measurements (Financ

Fair Value Measurements (Financial Instruments) (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Fair Value of Financial Instruments [Abstract]
Liabilities subject to compromise	$ 4,912	$ 0
Fair Value, Measurements, Recurring | Level 2
Fair Value of Financial Instruments [Abstract]
Nominal Unpaid Principal Balance	17,405	17,170
Aggregate Fair Value	14,398	17,369
Fair Value, Measurements, Recurring | Level 2 | Non-Vehicle Debt
Fair Value of Financial Instruments [Abstract]
Nominal Unpaid Principal Balance	4,406	3,755
Aggregate Fair Value	1,738	3,840
Fair Value, Measurements, Recurring | Level 2 | Fleet Debt
Fair Value of Financial Instruments [Abstract]
Nominal Unpaid Principal Balance	12,999	13,415
Aggregate Fair Value	$ 12,660	$ 13,529

Contingencies and Off-Balance_2

Contingencies and Off-Balance Sheet Commitments (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Self-insured liabilities	$ 495	$ 553
Net proceeds from repayment or recovery, percent	15.00%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	2 Months Ended	3 Months Ended		5 Months Ended	6 Months Ended
	May 31, 2020	Jun. 30, 2020	Jun. 30, 2019	May 31, 2020	Jun. 30, 2020	Jun. 30, 2019	May 23, 2020	May 22, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Due from related parties			$ 425,000,000			$ 425,000,000
Contributions from noncontrolling interests					$ 0	45,000,000
Master Loan Agreement
Related Party Transaction [Line Items]
Due from related parties								$ 133,000,000	$ 129,000,000
Tax Related Liability
Related Party Transaction [Line Items]
Due from related parties		$ 65,000,000			65,000,000				$ 65,000,000
Master Loan Agreement, Due May 2021
Related Party Transaction [Line Items]
Due from related parties							$ 25,000,000
Mr. Icahn
Related Party Transaction [Line Items]
Purchases from related party	$ 6,000,000		12,000,000	$ 23,000,000	$ 24,000,000
767 Auto Leasing, LLC
Related Party Transaction [Line Items]
Lease, initial term		22 months			22 months
Lease, renewal term		6 months			6 months
767 Auto Leasing, LLC | Master Motor Vehicle Lease and Management Agreement
Related Party Transaction [Line Items]
Operating income or loss, percent					25.00%
The Hertz Corporation
Related Party Transaction [Line Items]
Due from related parties		$ 65,000,000			$ 65,000,000
Contributions from noncontrolling interests					0	$ 45,000,000
The Hertz Corporation | 767 Auto Leasing, LLC
Related Party Transaction [Line Items]
Contributions from noncontrolling interests			$ 20,000,000		45,000,000
The Hertz Corporation | AEPC
Related Party Transaction [Line Items]
Contributions from noncontrolling interests		$ 0			$ 0

Segment Information (Details)

Segment Information (Details)		Jun. 18, 2020USD ($)	Jul. 31, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)segment	Jun. 30, 2019USD ($)	Dec. 31, 2019USD ($)
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Number of reportable segments | segment						3
Revenues				$ 832,000,000	$ 2,511,000,000	$ 2,755,000,000	$ 4,618,000,000
Depreciation of revenue earning vehicles and lease charges				610,000,000	634,000,000	1,286,000,000	1,226,000,000
Adjusted EBITDA:				(587,000,000)	207,000,000	(830,000,000)	203,000,000
Total assets	[1]			23,116,000,000		23,116,000,000		$ 24,627,000,000
Income (loss) before income taxes				(1,044,000,000)	44,000,000	(1,405,000,000)	(104,000,000)
Stock issued amount			$ 750,000,000	29,000,000
ATM Program
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Stock issued amount		$ 29,000,000
Restructuring and restructuring related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(41,000,000)	(4,000,000)	(47,000,000)	(10,000,000)
Finance and Information Technology Transformation Costs
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(8,000,000)	(38,000,000)	(25,000,000)	(60,000,000)
Other
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(31,000,000)	11,000,000	(7,000,000)	25,000,000
Reorganization Items, Net
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(23,000,000)	0	(23,000,000)	0
COVID-19 Charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(45,000,000)	0	(45,000,000)	0
Operating Segments
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:				(574,000,000)	236,000,000		250,000,000
Operating Segments | U.S. Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues				533,000,000	1,784,000,000	1,914,000,000	3,304,000,000
Depreciation of revenue earning vehicles and lease charges				408,000,000	411,000,000	871,000,000	797,000,000
Adjusted EBITDA:				(470,000,000)	156,000,000	(668,000,000)	163,000,000
Total assets				15,614,000,000		15,614,000,000		16,459,000,000
Operating Segments | International Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues				135,000,000	560,000,000	502,000,000	993,000,000
Depreciation of revenue earning vehicles and lease charges				81,000,000	106,000,000	170,000,000	203,000,000
Adjusted EBITDA:				(127,000,000)	56,000,000	(172,000,000)	42,000,000
Total assets				3,783,000,000		3,783,000,000		4,563,000,000
Operating Segments | All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues				164,000,000	167,000,000	339,000,000	321,000,000
Depreciation of revenue earning vehicles and lease charges				121,000,000	117,000,000	245,000,000	226,000,000
Adjusted EBITDA:				23,000,000	24,000,000	48,000,000	45,000,000
Total assets				1,970,000,000		1,970,000,000		2,115,000,000
Corporate, Non-Segment
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:				(13,000,000)	(29,000,000)	(38,000,000)	(47,000,000)
Total assets				1,749,000,000		1,749,000,000		1,490,000,000
The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues				832,000,000	2,511,000,000	2,755,000,000	4,618,000,000
Depreciation of revenue earning vehicles and lease charges				610,000,000	634,000,000	1,286,000,000	1,226,000,000
Adjusted EBITDA:				(587,000,000)	207,000,000	(830,000,000)	203,000,000
Total assets	[2]			23,087,000,000		23,087,000,000		24,627,000,000
Income (loss) before income taxes				(1,176,000,000)	46,000,000	(1,536,000,000)	(101,000,000)
Proceeds from sale of productive assets				(9,000,000)			(20,000,000)
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Total assets				986,000,000		986,000,000		$ 1,300,000,000
The Hertz Corporation | Debt-related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(15,000,000)	(9,000,000)	(24,000,000)	(19,000,000)
The Hertz Corporation | Restructuring and restructuring related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(41,000,000)	(4,000,000)	(47,000,000)	(10,000,000)
The Hertz Corporation | Finance and Information Technology Transformation Costs
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(8,000,000)	(38,000,000)	(25,000,000)	(60,000,000)
The Hertz Corporation | Other
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(31,000,000)	11,000,000	(7,000,000)	25,000,000
The Hertz Corporation | Reorganization Items, Net
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(23,000,000)	0	(23,000,000)	0
The Hertz Corporation | COVID-19 Charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(45,000,000)	0	(45,000,000)	0
The Hertz Corporation | Operating Segments
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:				(574,000,000)	236,000,000	(792,000,000)	250,000,000
The Hertz Corporation | Operating Segments | U.S. Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:				(470,000,000)	156,000,000	(668,000,000)	163,000,000
The Hertz Corporation | Operating Segments | International Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:				(127,000,000)	56,000,000	(172,000,000)	42,000,000
The Hertz Corporation | Operating Segments | All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:				23,000,000	24,000,000	48,000,000	45,000,000
The Hertz Corporation | Corporate, Non-Segment
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:				(13,000,000)	(29,000,000)	$ (38,000,000)	(47,000,000)
Product Concentration Risk | Cost of Goods, Segment | All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Concentration risk, percentage (less than)						1.00%
Product Concentration Risk | Revenues | All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Concentration risk, percentage (less than)						1.00%
Non-vehicle | Non-vehicle Deprecation and Amortization
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(57,000,000)	(51,000,000)	$ (110,000,000)	(99,000,000)
Non-vehicle | Debt-related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(44,000,000)	(72,000,000)	(101,000,000)	(144,000,000)
Non-vehicle | The Hertz Corporation | Non-vehicle Deprecation and Amortization
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(57,000,000)	(51,000,000)	(110,000,000)	(99,000,000)
Non-vehicle | The Hertz Corporation | Debt-related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				(43,000,000)	(70,000,000)	(99,000,000)	(141,000,000)
Vehicles | Debt-related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes				$ (15,000,000)	$ (9,000,000)	$ (24,000,000)	(19,000,000)
Non-vehicle Capital Assets | The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Proceeds from sale of productive assets							$ (12,000,000)
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2020 and December 31, 2019 include total assets of variable interest entities (“VIEs”) of $986 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2020 and December 31, 2019 include total liabilities of VIEs of $873 million and $1.1 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Special Purpose Entities" in Note 5, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information.
[2]	The Hertz Corporation's consolidated total assets as of June 30, 2020 and December 31, 2019 include total assets of variable interest entities (“VIEs”) of $986 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of June 30, 2020 and December 31, 2019 include total liabilities of VIEs of $873 million and $1.1 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Special Purpose Entities" in Note 5, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information.

Liabilities Subject to Compro_3

Liabilities Subject to Compromise (Details) - USD ($)	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Fresh-Start Adjustment [Line Items]
Accounts payable	$ 301,000,000
Accrued liabilities	226,000,000
Accrued taxes, net	27,000,000
Accrued interest on debt subject to compromise	46,000,000
Debt subject to compromise	4,312,000,000
Liabilities subject to compromise, Total	4,912,000,000	$ 0
Due from related parties			$ 425,000,000
The Hertz Corporation
Fresh-Start Adjustment [Line Items]
Liabilities subject to compromise, Total	4,977,000,000	$ 0
Due from related parties	$ 65,000,000

Reorganizations (Details)

Reorganizations (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Fresh-Start Adjustment [Line Items]
Reorganization Items	$ 23	$ 0	$ 23	$ 0
Accrued Liabilities
Fresh-Start Adjustment [Line Items]
Reorganization Items	$ 23		$ 23

Condensed Combined Debtor in _3

Condensed Combined Debtor in Possession Financial Information (Balance Sheet) (Details) - USD ($)		Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
ASSETS
Cash and cash equivalents		$ 1,366,000,000	$ 865,000,000
Restricted cash and cash equivalents:		945,000,000	495,000,000
Total cash, cash equivalents, restricted cash and restricted cash equivalents		2,311,000,000	1,360,000,000	$ 654,000,000	$ 1,410,000,000
Receivables, net of allowance		1,566,000,000	1,840,000,000
Due from affiliates				$ 425,000,000
Prepaid expenses and other assets		563,000,000	689,000,000
Revenue earning vehicles, net		15,340,000,000	17,085,000,000
Property and equipment, net		724,000,000	757,000,000
Operating lease right-of-use assets		1,719,000,000	1,871,000,000
Intangible assets, net		3,088,000,000	3,238,000,000
Goodwill		1,080,000,000	1,083,000,000
Assets	[1]	23,116,000,000	24,627,000,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Total accounts payable		516,000,000	943,000,000
Accrued liabilities		836,000,000	1,032,000,000
Accrued taxes, net		97,000,000	150,000,000
Debt		12,982,000,000	17,089,000,000
Operating lease liabilities		1,690,000,000	1,848,000,000
Self-insured liabilities		495,000,000	553,000,000
Deferred income taxes, net		915,000,000	1,124,000,000
Total liabilities not subject to compromise		17,531,000,000	22,739,000,000
Liabilities subject to compromise		4,912,000,000	0
Total liabilities		22,443,000,000	22,739,000,000
Total liabilities and stockholders' equity		23,116,000,000	24,627,000,000
Hertz Global Holdings and Subsidiaries in Bankruptcy Proceedings
ASSETS
Cash and cash equivalents		875,000,000
Restricted cash and cash equivalents:		382,000,000
Total cash, cash equivalents, restricted cash and restricted cash equivalents		1,257,000,000	$ 526,000,000
Receivables, net of allowance		454,000,000
Due from affiliates		50,004,000,000
Prepaid expenses and other assets		629,000,000
Revenue earning vehicles, net		179,000,000
Property and equipment, net		633,000,000
Operating lease right-of-use assets		1,450,000,000
Investment in subsidiaries, net		4,458,000,000
Intangible assets, net		3,084,000,000
Goodwill		524,000,000
Assets		62,672,000,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Total accounts payable		0
Due to affiliates		242,000,000
Accrued liabilities		506,000,000
Accrued taxes, net		19,000,000
Debt		150,000,000
Operating lease liabilities		1,422,000,000
Self-insured liabilities		263,000,000
Deferred income taxes, net		0
Total liabilities not subject to compromise		2,602,000,000
Liabilities subject to compromise		59,511,000,000
Total liabilities		62,113,000,000
Total equity attributable to the Debtors		559,000,000
Total liabilities and stockholders' equity		$ 62,672,000,000
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of June 30, 2020 and December 31, 2019 include total assets of variable interest entities (“VIEs”) of $986 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of June 30, 2020 and December 31, 2019 include total liabilities of VIEs of $873 million and $1.1 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Special Purpose Entities" in Note 5, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information.

Condensed Combined Debtor in _4

Condensed Combined Debtor in Possession Financial Information (Statement of Operations and Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 832		$ 2,511		$ 2,755	$ 4,618
Expenses:
Direct vehicle and operating	704		1,388		1,945	2,655
Depreciation of revenue earning vehicles and lease charges	610		634		1,286	1,226
Selling, general and administrative	168		258		377	490
Interest (income) expense, net	(176)		(199)		(351)	(382)
Technology-related intangible and other asset impairments					193	0
Reorganization Items	23		0		23	0
Total expenses	1,876		2,467		4,160	4,722
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest	1,044		(44)		1,405	104
Income tax (provision) benefit	192		(4)		196	(3)
Net income (loss)	(852)	$ (357)	40	$ (148)	(1,209)	(107)
Net (income) loss attributable to noncontrolling interests	5		(2)		6	(1)
Net income (loss) attributable to Hertz	(847)		38		(1,203)	(108)
Other comprehensive income (loss)	7	$ (39)	(2)	$ 7	(32)	5
Comprehensive income (loss) attributable to Hertz Global	$ (840)		$ 36		(1,235)	(103)
Hertz Global Holdings and Subsidiaries in Bankruptcy Proceedings
Condensed Financial Statements, Captions [Line Items]
Revenues					537	1,873
Expenses:
Direct vehicle and operating					572	1,554
Depreciation of revenue earning vehicles and lease charges					667	2,364
Selling, general and administrative					126	297
Interest (income) expense, net					37	88
Technology-related intangible and other asset impairments					3	(18)
Other (income) expense, net					193	193
Reorganization Items					23	23
Total expenses					1,621	4,501
Income (Loss) from Continuing Operations before Equity Method Investments, Income Taxes, Noncontrolling Interest					1,084	2,628
Income tax (provision) benefit					229	527
Equity in earnings (losses) of non-debtor entities					6	898
Net income (loss)					(849)	(1,203)
Other comprehensive income (loss)					7	(32)
Comprehensive income (loss) attributable to Hertz Global					$ (842)	$ (1,235)

Condensed Combined Debtor in _5

Condensed Combined Debtor in Possession Financial Information (Statement of Cash Flows) (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 626	$ 1,054
Cash flows from investing activities:
Revenue earning vehicles expenditures	(4,956)	(8,947)
Proceeds from disposal of revenue earning vehicles	5,005	4,212
Non-vehicle capital asset expenditures	(72)	(118)
Proceeds from non-vehicle capital assets disposed of or to be disposed of	50	21
Sales of marketable securities	74	0
Net cash provided by (used in) investing activities	100	(4,832)
Cash flows from financing activities:
Proceeds from the issuance of stock, net	29	0
Other	(2)	(4)
Net cash provided by (used in) financing activities	222	3,023
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	3	(1)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	951	(756)
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	1,360	1,410
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	2,311	654
Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	4,174	8,267
Repayments of debt	(4,613)	(5,254)
Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	1,498	815
Repayments of debt	(853)	$ (823)
Hertz Global Holdings and Subsidiaries in Bankruptcy Proceedings
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(26)
Cash flows from investing activities:
Revenue earning vehicles expenditures	(460)
Proceeds from disposal of revenue earning vehicles	433
Non-vehicle capital asset expenditures	(64)
Proceeds from non-vehicle capital assets disposed of or to be disposed of	49
Sales of marketable securities	74
Capital contributions to non-debtor entities	(741)
Return of capital from non-debtor entities	838
Payments to Acquire Loans Receivable	(180)
Proceeds from Collection of Loans Receivable	189
Net cash provided by (used in) investing activities	138
Cash flows from financing activities:
Proceeds from the issuance of stock, net	29
Other	(2)
Net cash provided by (used in) financing activities	619
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	731
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	526
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	1,257
Hertz Global Holdings and Subsidiaries in Bankruptcy Proceedings | Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	321
Repayments of debt	(374)
Hertz Global Holdings and Subsidiaries in Bankruptcy Proceedings | Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	1,498
Repayments of debt	$ (853)