Hertz (HRZ) 10-Q 7 May 21 2021 Q1 Quarterly report Financial data

Cover Page

Cover Page - shares	3 Months Ended
	Mar. 31, 2021	May 03, 2021
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2021
Document Transition Report	false
Entity Registrant Name	HERTZ GLOBAL HOLDINGS, INC
Entity Incorporation, State or Country Code	DE
Entity File Number	001-37665
Entity Tax Identification Number	61-1770902
Entity Address, Address Description	8501 Williams Road
Entity Address, City or Town	Estero,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33928
City Area Code	239
Local Phone Number	301-7000
Title of 12(b) Security	Common Stock
Trading Symbol	HTZGQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		156,206,478
Entity Central Index Key	0001657853
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
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
Entity Central Index Key	0000047129
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q1
Amendment Flag	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions		Mar. 31, 2021	Dec. 31, 2020
ASSETS
Cash and cash equivalents		$ 1,087	$ 1,096
Restricted cash and cash equivalents:		1,353	411
Total cash, cash equivalents, restricted cash and restricted cash equivalents		2,440	1,507
Receivables:		793	777
Prepaid expenses and other assets		786	373
Revenue earning vehicles:
Revenue earning vehicles, net		7,919	7,540
Less: accumulated depreciation		(1,559)	(1,478)
Total revenue earning vehicles, net		6,360	6,062
Property and equipment, net		637	666
Operating lease right-of-use assets		1,580	1,675
Intangible assets, net		2,969	2,992
Goodwill		1,045	1,045
Assets held for sale		0	1,811
Total assets	[1]	16,610	16,908
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		531	418
Accrued liabilities		824	759
Accrued taxes, net		161	121
Debt:		7,026	6,267
Operating lease liabilities		1,541	1,636
Self-insured liabilities		470	488
Deferred income taxes, net		789	730
Total liabilities not subject to compromise		11,342	10,419
Liabilities subject to compromise		4,978	4,965
Liabilities held for sale		0	1,431
Total liabilities	[1]	16,320	16,815
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 shares issued and 156,206,478 shares outstanding at March 31, 2021 and December 31, 2020		2	2
Additional paid-in capital		3,049	3,047
Accumulated deficit		(2,491)	(2,681)
Accumulated other comprehensive income (loss)		(195)	(212)
Treasury stock, at cost, 2,028,932 shares at March 31, 2021 and December 31, 2020		(100)	(100)
Stockholders' equity attributable to Hertz Global		265	56
Noncontrolling interests		25	37
Total stockholders' equity		290	93
Total liabilities and stockholders' equity		$ 16,610	$ 16,908
Treasury Stock, shares repurchased		2,028,932	2,028,932
Vehicles
ASSETS
Restricted cash and cash equivalents:		$ 119	$ 50
Receivables:		157	164
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		141	29
Debt:		6,286	6,024
Non-vehicle
ASSETS
Restricted cash and cash equivalents:		1,234	361
Receivables:		636	613
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		390	389
Debt:		740	243
The Hertz Corporation
ASSETS
Cash and cash equivalents		1,087	1,096
Restricted cash and cash equivalents:		1,325	383
Total cash, cash equivalents, restricted cash and restricted cash equivalents		2,412	1,479
Receivables:		793	777
Due from Hertz Holdings		1	1
Prepaid expenses and other assets		785	372
Revenue earning vehicles:
Revenue earning vehicles, net		7,919	7,540
Less: accumulated depreciation		(1,559)	(1,478)
Total revenue earning vehicles, net		6,360	6,062
Property and equipment, net		637	666
Operating lease right-of-use assets		1,580	1,675
Intangible assets, net		2,969	2,992
Goodwill		1,045	1,045
Assets held for sale		0	1,811
Total assets	[2]	16,582	16,880
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		531	418
Accrued liabilities		825	759
Accrued taxes, net		161	121
Debt:		7,026	6,267
Operating lease liabilities		1,541	1,636
Self-insured liabilities		470	488
Deferred income taxes, net		793	735
Total liabilities not subject to compromise		11,347	10,424
Liabilities subject to compromise		5,043	5,030
Liabilities held for sale		0	1,431
Total liabilities	[2]	16,390	16,885
Commitments and contingencies
Stockholders' equity:
Common stock, $0.01 par value, 158,235,410 shares issued and 156,206,478 shares outstanding at March 31, 2021 and December 31, 2020		0	0
Additional paid-in capital		3,955	3,953
Accumulated deficit		(3,593)	(3,783)
Accumulated other comprehensive income (loss)		(195)	(212)
Stockholders' equity attributable to Hertz Global		167	(42)
Noncontrolling interests		25	37
Total stockholders' equity		192	(5)
Total liabilities and stockholders' equity		16,582	16,880
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Revenue earning vehicles:
Total assets		513	511
LIABILITIES AND STOCKHOLDERS' EQUITY
Total liabilities		393	475
The Hertz Corporation | Vehicles
ASSETS
Restricted cash and cash equivalents:		119	50
Receivables:		157	164
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		141	29
Debt:		6,286	6,024
The Hertz Corporation | Non-vehicle
ASSETS
Restricted cash and cash equivalents:		1,206	333
Receivables:		636	613
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable:		390	389
Debt:		$ 740	$ 243
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of March 31, 2021 and December 31, 2020 include total assets of variable interest entities (“VIEs”) of $513 million and $511 million, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of March 31, 2021 and December 31, 2020 include total liabilities of VIEs of $393 million and $475 million, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information.
[2]	The Hertz Corporation's consolidated total assets as of March 31, 2021 and December 31, 2020 include total assets of VIEs of $513 million and $511 million, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of March 31, 2021 and December 31, 2020 include total liabilities of VIEs of $393 million and $475 million, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
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	158,235,410
Common Stock, shares outstanding	156,206,478	156,206,478
Treasury Stock, shares repurchased	2,028,932	2,028,932
Non-vehicle
Receivables, allowance for doubtful accounts (in dollars)	$ 56	$ 46
The Hertz Corporation
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares issued	100	100
Common Stock, shares outstanding	100	100
The Hertz Corporation | Non-vehicle
Receivables, allowance for doubtful accounts (in dollars)	$ 56	$ 46

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenues:
Worldwide vehicle rental	$ 1,153	$ 1,749
All other operations	136	174
Total revenues	1,289	1,923
Expenses:
Direct vehicle and operating	827	1,241
Depreciation of revenue earning vehicles and lease charges	243	677
Selling, general and administrative	156	208
Total interest expense, net	148	175
Other (income) expense, net	(3)	(17)
Reorganization items, net	42	0
(Gain) from the sale of a business	(392)	0
Total expenses	1,021	2,284
Income (loss) before income taxes	268	(361)
Income tax (provision) benefit	(79)	4
Net income (loss)	189	(357)
Net (income) loss attributable to noncontrolling interests	1	1
Net income (loss) attributable to Hertz	$ 190	$ (356)
Weighted-average shares outstanding:
Basic (in shares)	156	142
Diluted (in shares)	157	142
Earnings (loss) per share:
Basic earnings (loss) per share (in dollars per share)	$ 1.22	$ (2.50)
Diluted earnings (loss) per share (in dollars per share)	$ 1.21	$ (2.50)
Vehicles
Expenses:
Total interest expense, net	$ 104	$ 118
Non-vehicle
Expenses:
Total interest expense, net	44	57
The Hertz Corporation
Revenues:
Worldwide vehicle rental	1,153	1,749
All other operations	136	174
Total revenues	1,289	1,923
Expenses:
Direct vehicle and operating	827	1,241
Depreciation of revenue earning vehicles and lease charges	243	677
Selling, general and administrative	156	208
Total interest expense, net	148	173
Other (income) expense, net	(3)	(17)
Reorganization items, net	42	0
(Gain) from the sale of a business	(392)	0
Total expenses	1,021	2,282
Income (loss) before income taxes	268	(359)
Income tax (provision) benefit	(79)	3
Net income (loss)	189	(356)
Net (income) loss attributable to noncontrolling interests	1	1
Net income (loss) attributable to Hertz	190	(355)
The Hertz Corporation | Vehicles
Expenses:
Total interest expense, net	104	118
The Hertz Corporation | Non-vehicle
Expenses:
Total interest expense, net	$ 44	$ 55

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Net income (loss)	$ 189	$ (357)
Other comprehensive income (loss):
Foreign currency translation adjustments	17	(41)
Net gain (loss) on pension and postretirement benefit plans	0	1
Reclassification from other comprehensive income (loss) to other (income) expense for amortization of actuarial net losses	0	1
Total other comprehensive income (loss) before income taxes	17	(39)
Other comprehensive income (loss)	17	(39)
Total comprehensive income (loss)	206	(396)
Comprehensive (income) loss attributable to noncontrolling interests	1	1
Comprehensive income (loss) attributable to Hertz Global	207	(395)
The Hertz Corporation
Net income (loss)	189	(356)
Other comprehensive income (loss):
Foreign currency translation adjustments	17	(41)
Net gain (loss) on pension and postretirement benefit plans	0	1
Reclassification from other comprehensive income (loss) to other (income) expense for amortization of actuarial net losses	0	1
Total other comprehensive income (loss) before income taxes	17	(39)
Other comprehensive income (loss)	17	(39)
Total comprehensive income (loss)	206	(395)
Comprehensive (income) loss attributable to noncontrolling interests	1	1
Comprehensive income (loss) attributable to Hertz Global	$ 207	$ (394)

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY (DEFICIT) - USD ($) shares in Millions, $ 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, 2019					0	142	100								2
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	100								2
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, 2020					0	156	100								2
Beginning Balance at Dec. 31, 2020	93	(5)	56	(42)		$ 2	$ 0	3,047	3,953		(2,681)	(3,783)	(212)	(212)	$ (100)	37	37
Increase (Decrease) in Stockholders' Equity
Net income (loss)	189	189	190	190							190	190				(1)	(1)
Other comprehensive income (loss)	17	17	17	17									17	17
Stock-based compensation charges	2	2	2	2				2	2
Distributions to noncontrolling interests		(11)															(11)
Ending Balance (Shares) at Mar. 31, 2021					0	156	100								2
Ending Balance at Mar. 31, 2021	$ 290	$ 192	$ 265	$ 167		$ 2	$ 0	$ 3,049	$ 3,955		$ (2,491)	$ (3,593)	$ (195)	$ (195)	$ (100)	$ 25	$ 25

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash flows from operating activities:
Net income (loss)	$ 189	$ (357)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles	275	733
Depreciation and amortization, non-vehicle	54	53
Amortization of deferred financing costs and debt discount (premium)	34	12
Provision for receivables allowance	29	15
Deferred income taxes, net	62	(13)
Non-cash reorganization items, net	(15)	0
(Gain) from the sale of a business	(392)	0
(Gain) loss on sale of non-vehicle capital assets	(1)	(21)
Other	2	4
Changes in assets and liabilities:
Non-vehicle receivables	(73)	226
Prepaid expenses and other assets	(87)	(61)
Operating lease right-of-use assets	78	100
Non-vehicle accounts payable	40	(86)
Accrued liabilities	62	(59)
Accrued taxes, net	36	(14)
Operating lease liabilities	(78)	(66)
Self-insured liabilities	(15)	(17)
Net cash provided by (used in) operating activities	200	449
Cash flows from investing activities:
Revenue earning vehicles expenditures	(1,517)	(4,346)
Proceeds from disposal of revenue earning vehicles	686	2,212
Non-vehicle capital asset expenditures	(9)	(59)
Proceeds from non-vehicle capital assets disposed of or to be disposed of	4	23
Sales of marketable securities	0	74
Proceeds from the sale of a business, net of cash sold	818	0
Other	0	(1)
Net cash provided by (used in) investing activities	(18)	(2,097)
Cash flows from financing activities:
Payment of financing costs	(7)	(9)
Contributions from (distributions to) noncontrolling interests	(10)	0
Other	0	(2)
Net cash provided by (used in) financing activities	692	1,701
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	(12)	(4)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	862	49
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	2,440	1,409
Cash paid during the period for:
Income taxes, net of refunds	(4)	5
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives	103	200
Sales of revenue earning vehicles included in vehicle receivables	119	1,043
Purchases of non-vehicle capital assets included in accounts payable	6	32
Purchases of non-vehicle capital assets included in liabilities subject to compromise	16	0
Revenue earning vehicles and non-vehicle capital assets acquired through capital lease	21	4
Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	1,096	3,661
Repayments of debt	(946)	(2,538)
Cash paid during the period for:
Interest, net of amounts capitalized:	69	103
Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	560	1,440
Repayments of debt	(1)	(851)
Cash paid during the period for:
Interest, net of amounts capitalized:	30	26
The Hertz Corporation
Cash flows from operating activities:
Net income (loss)	189	(356)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles	275	733
Depreciation and amortization, non-vehicle	54	53
Amortization of deferred financing costs and debt discount (premium)	34	12
Provision for receivables allowance	29	15
Deferred income taxes, net	62	(12)
Non-cash reorganization items, net	(15)	0
(Gain) from the sale of a business	(392)	0
Other	2	3
Changes in assets and liabilities:
Non-vehicle receivables	(73)	226
Prepaid expenses and other assets	(87)	(61)
Operating lease right-of-use assets	78	100
Non-vehicle accounts payable	40	(86)
Accrued liabilities	62	(59)
Accrued taxes, net	36	(14)
Operating lease liabilities	(78)	(66)
Self-insured liabilities	(15)	(17)
Net cash provided by (used in) operating activities	200	450
Cash flows from investing activities:
Revenue earning vehicles expenditures	(1,517)	(4,346)
Proceeds from disposal of revenue earning vehicles	686	2,212
Non-vehicle capital asset expenditures	(9)	(59)
Proceeds from non-vehicle capital assets disposed of or to be disposed of	4	23
Sales of marketable securities	0	74
Proceeds from the sale of a business, net of cash sold	818	0
Other	0	(1)
Net cash provided by (used in) investing activities	(18)	(2,097)
Cash flows from financing activities:
Payment of financing costs	(7)	(9)
Advances to Hertz Holdings	0	(3)
Contributions from (distributions to) noncontrolling interests	(10)	0
Net cash provided by (used in) financing activities	692	1,700
Effect of foreign currency exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	(12)	(4)
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	862	49
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	2,412	1,409
Cash paid during the period for:
Income taxes, net of refunds	(4)	5
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives	103	200
Purchases of non-vehicle capital assets included in accounts payable	6	32
Purchases of non-vehicle capital assets included in liabilities subject to compromise	16	0
Revenue earning vehicles and non-vehicle capital assets acquired through capital lease	21	4
The Hertz Corporation | Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	1,096	3,661
Repayments of debt	(946)	(2,538)
Cash paid during the period for:
Interest, net of amounts capitalized:	69	103
Supplemental disclosures of non-cash information:
Sales of revenue earning vehicles included in vehicle receivables	119	1,043
The Hertz Corporation | Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	560	1,440
Repayments of debt	(1)	(851)
Cash paid during the period for:
Interest, net of amounts capitalized:	$ 30	$ 26

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - Non-vehicle $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)
Contractual interest	$ 53
The Hertz Corporation
Contractual interest	$ 53

Background

Background	3 Months Ended
	Mar. 31, 2021
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. The Company also sells vehicles through Hertz Car Sales and operates the Firefly vehicle rental brand and Hertz 24/7 car sharing business in international markets. As disclosed in Note 3, "Divestitures," on March 30, 2021 the Company completed the previously announced sale of substantially all of the assets and certain liabilities of its Donlen subsidiary (the "Donlen Sale"), a business which provides vehicle leasing and fleet management services. Voluntary Petitions for Bankruptcy In March 2020, the World Health Organization declared COVID-19 a global pandemic. In response to COVID-19, local and national governments around the world instituted shelter-in-place and similar orders and travel restrictions, and airline and other travel decreased suddenly and dramatically. As a result of the impact on travel demand, late in the first quarter of 2020, the Company experienced a high level of rental cancellations and a significant decline in forward bookings. In response, the Company began aggressive actions to eliminate costs. However, it faced significant ongoing expenses. 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 for procedural purposes only under the caption In re The Hertz Corporation, et al., Case No. 20-11218 (MFW) . The Debtors filed with the Bankruptcy Court a proposed Joint Chapter 11 Plan of Reorganization of the Debtors, dated as of March 1, 2021, and a related proposed Disclosure Statement. The Debtors subsequently filed with the Bankruptcy Court a proposed First Amended Joint Chapter 11 Plan of Reorganization of the Debtors and a related proposed Disclosure Statement, in each case dated as of March 29, 2021; a proposed Second Amended Joint Chapter 11 Plan of Reorganization of the Debtors and a related proposed Disclosure Statement, in each case dated as of April 3, 2021; a proposed Modified Second Amended Joint Chapter 11 Plan of Reorganization of the Debtors and a related proposed Disclosure Statement, in each case dated as of April 10, 2021; a proposed Second Modified Second Amended Joint Chapter 11 Plan of Reorganization of the Debtors and a related proposed Disclosure Statement, dated as of April 14, 2021 and April 15, 2021, respectively; a proposed Third Modified Second Amended Joint Chapter 11 Plan of Reorganization of the Debtors and a related proposed Disclosure Statement, in each case dated as of April 16, 2021; and a proposed Fourth Modified Second Amended Joint Chapter 11 Plan of Reorganization of the Debtors and a related proposed Disclosure Statement, in each case dated as of April 21, 2021, which Disclosure Statement the Debtors further updated on April 21, 2021. On April 22, 2021, the Debtors filed the solicitation version of the Fourth Modified Second Amended Joint Chapter 11 Plan of Reorganization of the Debtors (the "Proposed Plan"), and the solicitation version of the Disclosure Statement (the "Disclosure Statement"). The Disclosure Statement describes, among other things, the events leading to the Chapter 11 Cases; the Debtors contemplated financial restructuring (the “Restructuring”); the proposed plan of reorganization; certain events that have occurred or are anticipated to occur during the Chapter 11 Cases, including the solicitation of votes to approve the Proposed Plan from certain of the Debtors’ stakeholders; certain risk factors related to the Plan, certain tax considerations, and certain other aspects of the Restructuring. The Disclosure Statement and solicitation procedures with respect to the Proposed Plan was approved by the Bankruptcy Court at a hearing held on April 21, 2021 and an order to that effect was entered on April 22, 2021. The Proposed Plan is now subject to a vote by the Debtors' stakeholders and a subsequent confirmation hearing of the Bankruptcy Court, currently scheduled for June 10, 2021. In addition to approval by the Bankruptcy Court, consummation of the Proposed Plan remains subject to the satisfaction of other conditions. Under the Proposed Plan, Centerbridge Partners, L.P., Warburg Pincus LLC, and Dundon Capital Partners, LLC (collectively, the "PE Sponsors") and certain holders of over 85% of the Debtors' unsecured notes (the "Supporting Noteholders," and together with the PE Sponsors the "Plan Sponsors") have committed to provide equity capital to fund the Debtors' exit from Chapter 11 as reflected in definitive executed documents, including (1) an Equity Purchase and Commitment Agreement (the "EPCA"), (2) a Plan Support Agreement and (3) a Bridge Financing Commitment for Hertz International Ltd. (collectively, along with the Proposed Plan and the Disclosure Statement, the "Transaction Documents"). Under the Proposed Plan, the Debtors anticipate exiting from Chapter 11 with approximately $2.2 billion of global liquidity (inclusive of capacity under the anticipated exit revolving credit facility) and only $1.3 billion in non-vehicle debt (exclusive of ABS facilities and a revolving credit facility). The Proposed Plan is supported by the Supporting Noteholders, which comprise the vast majority of creditors in the largest class of claims that are voting on the Proposed Plan and the Official Committee of Unsecured Creditors appointed in the Chapter 11 Cases. As set forth in the Transaction Documents: • the Proposed Plan will raise approximately $3.9 billion in cash proceeds, comprised of: ◦ $565 million from the purchase of common stock in the reorganized entity by the Plan Sponsors; ◦ $1.6 billion from the purchase of common stock pursuant to the rights offering contemplated by the Proposed Plan, which the Plan Sponsors have committed to ensure is fully funded pursuant to the terms of the EPCA; ◦ $385 million from the purchase of preferred stock by plan sponsors Centerbridge Partners, L.P. and Warburg Pincus LLC; and ◦ $1.3 billion in proceeds from the Company's anticipated new exit term loan facility. • Such cash proceeds will be used, in part, to provide the following distributions to the Company's stakeholders pursuant to the terms of the Proposed Plan: ◦ administrative priority and secured claims will be paid in cash in full; ◦ the holders of the Company's €725 million European Vehicle Notes will be paid in cash in full; ◦ the holders of claims with respect to the unsecured Senior Notes and holders of claims with respect to the Alternative Letter of Credit Facility will receive approximately 48.2% of the equity in the reorganized entity and the right to purchase an additional $1.6 billion of equity in the reorganized entity; ◦ the holders of general unsecured claims will receive cash payments of not more than $550 million in the aggregate, which the Company estimates will provide a recovery of approximately 100 percent; and ◦ the Company's existing equity will be cancelled and existing equity holders will receive new six-year warrants to purchase, in the aggregate 4%, of the reorganized entity's common stock, subject to certain conditions, with an exercise price to be determined based on an equity value of the reorganized entity of $6.1 billion. In light of continuing interest from an alternative potential plan sponsorship group, consisting of Certares Opportunities LLC (“Certares”), Knighthead Capital Management, LLC (“Knighthead”), Apollo Capital Management, LP (“Apollo”), and certain of each of their affiliates (together with Certares, Knighthead, and Apollo the “Alternative Sponsor Group”), on April 28, 2021, the Bankruptcy Court entered an order (the “Bid Procedures Order”), among other things, establishing bidding and auction procedures relating to the submission of alternative plan proposals. On May 2, 2021, the Alternative Sponsor Group submitted an alternative plan proposal to the Debtors (the “Alternative Plan Proposal”). On May 4, 2021, the Company determined that the Alternative Plan Proposal constitutes a “Superior Proposal” as that term is defined under the Debtors’ EPCA with the Plan Sponsors dated as of April 3, 2021 and approved by the Bankruptcy Court on April 22, 2021. Pursuant to the Bid Procedures Order, the Plan Sponsors will have until 5:00 p.m., Eastern Time, on May 7, 2021 to indicate if they intend to counter the Alternative Plan Proposal. If the Plan Sponsors determine to counter the Alternative Plan Proposal, an auction (the “Auction”) will be conducted on May 10, 2021. A hearing before the Bankruptcy Court to approve the results of the Auction along with supplemental solicitation materials, if any, will be conducted on May 14, 2021. This Quarterly Report on Form 10-Q is not a solicitation of votes to accept or reject the Proposed Plan. Information contained in the Proposed Plan and the Disclosure Statement is subject to change, whether as a result of additional amendments or supplements to the Proposed Plan or Disclosure Statement or otherwise. The documents and other information available via website or elsewhere are not part of this Quarterly Report on Form 10-Q and shall not be deemed incorporated herein. 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"). Substantially all of the Debtors’ Pre-petition liabilities are subject to resolution as provided in the Bankruptcy Code. Potential Claims The Debtors have filed with the Bankruptcy Court schedules and statements setting forth, among other things, the assets and liabilities of each of the Debtors, subject to the assumptions filed in connection therewith. These schedules and statements may be subject to further amendment or modification after filing. As part of the Chapter 11 Cases, parties believing that they have claims or causes of action against the Debtors may file proofs of claim evidencing such claims. Certain holders of Pre-petition claims that are not governmental units were required to file proofs of claim by the deadline for general claims, which was on October 21, 2020 (the “Bar Date”). The Debtors' have received approximately 15,000 proofs of claim for an amount of approximately $104.9 billion. Such amount includes duplicate claims across multiple debtor legal entities. These claims are in the process of being reconciled to amounts recorded in the Company's accounting records. Differences in amounts recorded and claims filed by creditors will be investigated and resolved, including through the filing of objections with the Bankruptcy Court, where appropriate. The Company may ask the Bankruptcy Court to disallow claims that the Company believes are duplicative, have been later amended or superseded, are without merit, are overstated or should be disallowed for other reasons. As a result of this process, the Company may identify additional liabilities that will need to be recorded or reclassified to liabilities subject to compromise. As of the filing of this Quarterly Report on Form 10-Q, the Company’s assessment of the validity of claims received has not been completed, but the Company does not anticipate that the amount of such claims will exceed the $550 million in cash, plus the net proceeds of certain claims of the Company, currently contemplated under the Proposed Plan. In light of the substantial number of claims filed, and expected to be filed, the claims resolution process may take considerable time to complete and likely will continue after the Debtors emerge from bankruptcy. For additional information on the anticipated claims settlement process, please refer to the Disclosure Statement. Borrowing Capacity and Availability The filing of the Chapter 11 Cases constituted defaults, termination events and/or amortization events with respect to certain of the Company's existing debt obligations. As a result of the filing of the Chapter 11 Cases, the remaining capacity under almost all of the Company's revolving credit facilities was terminated, as disclosed in Note 6, "Debt." Consequently, the proceeds of sales of vehicles which serve as collateral for such vehicle finance facilities must be applied to the payment of the related indebtedness of the Non-Debtor Financing Subsidiaries (as defined in Note 6, "Debt") and are not otherwise available to fund the Company’s operations. Additionally, the Company is precluded from accessing any of its subordinated investment in the vehicle collateral until the related defaults are waived or the third party funding under those facilities has been retired, either through the monetization of the underlying collateral or the refinancing of the related indebtedness. Additionally, proceeds from vehicle receivables, excluding manufacturer rebates, as of March 31, 2021 and ongoing vehicle sales must be applied to vehicle debt in amortization. The Company had waivers related to the filing of the Chapter 11 Cases under its European ABS and U.K. Financing Facility which, in April 2021, have been superseded by a comprehensive restructuring of each the European ABS and U.K. Financing Facility, as disclosed in Note 6, "Debt." The Company's inability to retain any proceeds from the sale of vehicles under its U.S. ABS programs means that its sources of liquidity are primarily its unrestricted cash and unrestricted cash equivalents on hand, cash generated from its operations and up to $800 million from its debtor-in-possession financing facility (the "DIP Credit Agreement"). As of March 31, 2021, the Company had total liquidity of $1.7 billion comprised of $900 million of remaining, committed availability under the DIP Credit Agreement and $812 million of unrestricted cash and unrestricted cash equivalents, net of the $275 million minimum liquidity requirement under the DIP Credit Agreement, which the Company believes will be sufficient to fund its operations through approximately March 31, 2022, assuming it does not experience any unforeseen liquidity needs before then, which could result in the utilization of the liquidity in advance of March 31, 2022. On January 13, 2021, the Bankruptcy Court entered an order authorizing the Debtors to enter into a Canadian fleet financing facility up to CAD$400 million. On January 27, 2021, TCL Funding Limited Partnership, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Hertz, entered into the Funding LP Series 2021-A which provides for aggregate maximum borrowings of CAD$350 million on a revolving basis. Subject to initial availability, the initial draw of CAD$120 million was used to pay the outstanding obligations under the Funding LP Series 2015-A Notes, including any unpaid default interest. On January 20, 2021, the Bankruptcy Court authorized an extension (the "Second Lease Order") of the July 24, 2020 order related to the Company's Amended and Restated Master Motor Vehicle Operating and Servicing Agreement (Series 2013 G1) (the "Operating Lease"), which extends the forbearance period related to Operating Lease to September 30, 2021, provided that the Debtors dispose of 121,510 lease vehicles, at least 113,381 of which will be non-program vehicles, and reach a minimum cumulative vehicle disposition proceeds of $2.0 billion by September 30, 2021. Additionally, the Second Lease Order directed the Debtors to (i) have no more than 157,262 lease vehicles by September 30, 2021 and (ii) make $756 million of base rent payments under the Operating Lease to the Hertz Vehicle Financing ("HVF") trustee in the amount of nine equal monthly payments of $84 million commencing in the period January 2021 through September 2021. Of the 121,510 lease vehicles that the Debtors are obligated to dispose of, as of March 31, 2021 the Debtors have disposed approximately 14,000 lease vehicles, of which 9,000 were non-program vehicles. In the first quarter of 2021, the Bankruptcy Court authorized the rejection of certain unexpired leases (the "Lease Rejection Orders") comprised of 278 off airport and 26 airport locations in the Company's U.S. RAC segment. See Note 7, "Leases," for further details. 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 satisfaction of liabilities are subject to uncertainty. Further, any plan of reorganization could materially change the amounts of assets and liabilities reported in the accompanying unaudited condensed consolidated financial statements. The accompanying unaudited condensed consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern or as a consequence of the Chapter 11 Cases. As a result of the Company's financial condition, defaults under certain debt agreements as disclosed in Note 6, "Debt," and the risks and uncertainties surrounding the Chapter 11 Cases, substantial doubt exists that the Company will be able to continue as a going concern for one year from the issuance date of this Quarterly Report on Form 10-Q.

Basis of Presentation and Recen

Basis of Presentation and Recently Issued Accounting Pronouncements	3 Months Ended
	Mar. 31, 2021
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 March 31, 2021 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. The Company's vehicle rental operations are typically a seasonal business, with decreased levels of business in the winter months and heightened activity during the spring and summer months for the majority of countries where the Company generates revenues. Effective on the Petition Date, the Company applied accounting standards applicable to reorganizations, Accounting Standards Codification 852 - Reorganizations, in preparing the accompanying unaudited condensed consolidated balance sheet as of December 31, 2020 and the unaudited condensed consolidated financial statements as of and for the three months ended March 31, 2021 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 sheets as of March 31, 2021 and December 31, 2020. These liabilities are reported at the amounts the Company anticipates will be allowed by the Bankruptcy Court, even if they may be settled for lesser amounts. See Note 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 months ended March 31, 2021. 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, 2020 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, 2020 (the "2020 Form 10-K"), as filed with the Securities and Exchange Commission ("SEC") on February 26, 2021. 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 Not Yet Adopted Scope of Reference Rate Reform In January 2021, the Financial Accounting Standards Board ("FASB") issued guidance that clarifies that entities with derivative instruments affected by changes to the interest rates used for discounting, margining or contract price alignment due to reference rate reform may elect to apply certain optional expedients and exceptions, including contract modification relief, provided in Topic 848. Entities may elect to apply the guidance on contract modifications either (1) retrospectively as of any date from the beginning of any interim period that includes March 12, 2020 or (2) prospectively to new modifications from any date in an interim period that includes or is after January 7, 2021, up to the date that financial statements are available to be issued. The Company is in the process of assessing the available expedients and exceptions and, if applicable, the method and timing of adoption.

Divestitures

Divestitures	3 Months Ended
	Mar. 31, 2021
Discontinued Operations and Disposal Groups [Abstract]
Divestitures	Divestitures Donlen Sale On March 30, 2021, the Company completed the previously announced Donlen Sale. The Company recognized a pre-tax gain in its corporate operations of $392 million, net of the impact of foreign currency adjustments, based on the difference in cash proceeds received of $891 million less $543 million net book value of assets sold plus a $45 million receivable in connection with the sale recorded in prepaid expenses and other assets in the accompanying unaudited condensed consolidated balance sheet as of March 31, 2021. The proceeds from the sale are subject to certain post-closing adjustments based on the level of assumed indebtedness, working capital and fleet equity which the Company expects to be finalized during the second quarter of 2021. On March 30, 2021, the Company and the buyer entered into a transition services agreement which provides for certain transitional services in connection with the Donlen Sale. 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 three months ended March 31, 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 three months ended March 31, 2020.

Revenue Earning Vehicles

Revenue Earning Vehicles	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue Earning Vehicles	Revenue Earning Vehicles The components of revenue earning vehicles, net are as follows: (In millions) March 31, December 31, Revenue earning vehicles $ 7,800 $ 7,492 Less accumulated depreciation (1,520) (1,467) 6,280 6,025 Revenue earning vehicles held for sale, net (1) 80 37 Revenue earning vehicles, net $ 6,360 $ 6,062 (1) Represents the carrying amount of vehicles currently placed on the Company's retail lots for sale or actively in the process of being sold through other disposition channels.

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, Net	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, Net	Goodwill and Intangible Assets, Net Recoverability of Goodwill and Indefinite-lived Intangible Assets As of March 31, 2021, the Company quantitatively tested the recoverability of its goodwill and indefinite-lived intangible assets in the International RAC segment due to continued adverse impacts from COVID-19 and the Company's reduction in cash flow projections. 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 13% and 15%. Based on the quantitative tests, no impairments were recorded in the first quarter of 2021. However, the fair value of certain tradenames, which are indefinite-lived intangible assets, were in excess by 6% of the carrying value of $540 million. As a result of the foregoing considerations, along with the consideration of other indicators noted in Accounting Standards Codification 350 – Intangibles, Goodwill and Other (“ASC 350”), the Company concluded there were no indicators of impairment triggered for the U.S. RAC segment in the first quarter of 2021. Further deterioration in the general economic conditions in the travel industry, the Company’s cash flows and the Company's ability to obtain future financing to maintain its fleet or the weighted average cost of capital assumptions may result in an impairment charge to earnings in future quarters. The Company will continue to closely monitor actual results versus its expectations as well as any significant changes in the Company's expected timing of emergence from bankruptcy, market events or conditions, including the impact of COVID-19 on the Company's business and the travel industry, and the resulting impact to its assumptions about future estimated cash flows and the weighted average cost of capital. If the Company's expectations of the operating results, both in magnitude or

Debt

Debt	3 Months Ended
	Mar. 31, 2021
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 March 31, December 31, Non-Vehicle Debt Senior Secured Superpriority Debtor-in-Possession Credit Agreement 8.25% Floating 12/2021 $ 750 $ 250 Other Non-Vehicle Debt 8.25% Fixed Various 16 18 Unamortized Debt Issuance Costs and Net (Discount) Premium (26) (25) Total Non-Vehicle Debt Not Subject to Compromise 740 243 Non-Vehicle Debt Subject to Compromise Senior Term Loan 3.50% Floating 6/2023 656 656 Senior RCF 3.38% Floating 6/2021 615 615 Senior Notes (1) 6.11% Fixed 10/2022-1/2028 2,700 2,700 Senior Second Priority Secured Notes 7.63% Fixed 6/2022 350 350 Promissory Notes 7.00% Fixed 1/2028 27 27 Alternative Letter of Credit Facility (2) 5.25% Floating 11/2023 142 114 Senior RCF Letter of Credit Facility 5.50% Floating 6/2021 34 17 Letter of Credit Facility 5.50% Floating 6/2021 23 — Unamortized Debt Issuance Costs and Net (Discount) Premium (36) (36) Total Non-Vehicle Debt Subject to Compromise 4,511 4,443 Vehicle Debt HVF II U.S. ABS Program HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A (3)(4) 3.41% Floating 3/2022 1,665 1,940 1,665 1,940 HVF II U.S. Vehicle Medium Term Notes HVF II Series 2015-3 (4) 3.78% Fixed 9/2020 144 163 HVF II Series 2016-2 (4) 4.12% Fixed 3/2021 232 263 HVF II Series 2016-4 (4) 3.78% Fixed 7/2021 165 187 HVF II Series 2017-1 (4) 4.03% Fixed 10/2020 176 199 HVF II Series 2017-2 (4) 4.45% Fixed 10/2022 145 164 HVF II Series 2018-1 (4) 3.93% Fixed 2/2023 414 468 HVF II Series 2018-2 (4) 4.40% Fixed 6/2021 84 94 HVF II Series 2018-3 (4) 4.69% Fixed 7/2023 84 95 Facility Weighted-Average Interest Rate Fixed or Maturity March 31, December 31, HVF II Series 2019-1 (4) 4.45% Fixed 3/2022 292 330 HVF II Series 2019-2 (4) 4.05% Fixed 5/2024 313 354 HVF II Series 2019-3 (4) 3.30% Fixed 12/2024 311 352 2,360 2,669 HVIF U.S. Fleet Medium Term Notes: HVIF Series 2020-1 3.53% Fixed 11/2021 881 — 881 — Vehicle Debt - Other European Vehicle Notes (5) 5.07% Fixed 10/2021-3/2023 853 888 European ABS (4) 1.60% Floating 11/2021 212 263 Hertz Canadian Securitization (4) 2.44% Floating 1/2023 95 53 Australian Securitization (4) 1.66% Floating 6/2021 99 97 New Zealand RCF 2.95% Floating 6/2021 31 35 U.K. Financing Facility 3.03% Floating 4/2021-2/2024 91 105 Other Vehicle Debt 3.35% Floating 4/2021-11/2024 53 37 1,434 1,478 Unamortized Debt Issuance Costs and Net (Discount) Premium (54) (63) Total Vehicle Debt Not Subject to Compromise 6,286 6,024 Total Debt Not Subject to Compromise $ 7,026 $ 6,267 (1) 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 sheets as of March 31, 2021 and December 31, 2020. Outstanding principal amounts for each such series of the Senior Notes is also specified below: (In millions) Outstanding Principal Senior Notes March 31, 2021 December 31, 2020 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 (2) Includes default interest. (3) Includes default interest which is comprised of an increase in the contractual spread. (4) Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness originally expected the outstanding principal of the relevant indebtedness to be repaid in full. The legal final maturity date is the date on which the outstanding principal of the relevant indebtedness is legally due and payable in full. While HVF II remains in an amortization event, as described below, the expected maturity will deviate from its stated, contractual maturity date during amortization as payoff is based on the sale of the underlying vehicles and the pro-rata application of those proceeds across all outstanding HVF II Series of Notes in accordance with their seniority. During the amortization event, the ultimate maturity of the notes will depend upon the length of time the underlying vehicle collateral is sold or the timing of the refinancing of the notes. (5) References to the "European Vehicle Notes" include the series of Hertz Holdings Netherlands B.V.'s, an indirect wholly-owned subsidiary of Hertz organized under the laws of the Netherlands, ("Hertz Netherlands") unsecured senior notes (converted from Euros to U.S. Dollars at a rate of 1.18 to 1 and 1.22 to 1 as of March 31, 2021 and December 31, 2020, 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 March 31, 2021 December 31, 2020 4.125% Senior Notes due October 2021 $ 265 $ 276 5.500% Senior Notes due March 2023 588 612 $ 853 $ 888 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 unaudited condensed consolidated balance sheets as of March 31, 2021, and December 31, 2020. The Company has suspended accruing and paying interest and amortizing deferred financing costs, discounts and premiums, as applicable, on the Senior Notes, Promissory Notes and Alternative Letter of Credit Facility, as of the Petition Date. The Company is continuing to pay in cash an amount equal to the monthly interest at the non-default rate for the Senior Term Loan and Senior RCF (collectively, "the First Lien Facilities"), and has suspended amortizing the associated deferred financing costs, discounts and premiums for the First Lien Facilities, as applicable, as of the Petition Date. Additionally, the Company is continuing to pay half of the interest at the non-default rate for the Senior Second Priority Secured Notes with the remaining half paid in kind. The filing of the Chapter 11 Cases constituted an event of default that accelerated the Debtors’ obligations under the Senior Term Loan, the Senior RCF, the Letter of Credit Facility and the Alternative Letter of Credit Facility. Additionally, the filing triggered defaults, termination events and/or amortization events under certain obligations of (i) Hertz International Limited, Hertz Netherlands and the direct and indirect subsidiary companies located outside of the United States and Canada (collectively the "International Subsidiaries") (some of which were waived or amended, subject to certain time limitations, and (ii) HVF, HVF II and certain other vehicle financing subsidiaries (collectively the "Non-Debtor Financing Subsidiaries"). As disclosed in Note 1, "Background," based on the Proposed Plan, the Disclosure Statement and commitments received by the Company in April 2021, all of which are subject to approval by the Bankruptcy Court and certain other conditions, events related to the Company's debt are as follows: • Upon exit from Chapter 11, which is currently anticipated to occur in June 2021, the Debtors anticipate eliminating approximately $5.0 billion of existing debt and eliminating the €725 million European Vehicle Notes where the holders' guaranty claims against the Debtors' U.S. entities will be unimpaired as the balance of their debt is expected to be paid by the issuer, Hertz Holdings Netherlands BV. • The Company anticipates obtaining a new secured rental car asset-backed credit facility (the “ABS Facility”) in an aggregate amount of $7.0 billion, comprised of a secured rental car asset-backed variable funding note in the aggregate amount of $3.0 billion and a secured rental car asset-backed bridge financing facility in an aggregate amount of up to $4.0 billion. Certain of the proceeds of the ABS Facility are expected to be used to repay outstanding vehicle financing facilities and to support the Company’s fleet financing needs for its U.S. rental car operations. • The Company also anticipates obtaining new exit credit facilities (the "Exit Credit Facilities") in an aggregate amount of $2.8 billion comprised of a senior secured revolving credit facility in an aggregate committed amount of $1.5 billion plus a senior secured term loan facility in an aggregate principal amount of $1.3 billion. The Exit Credit Facilities will be secured by a first lien of substantially all assets owned as of the date of execution of the Exit Credit Facilities or acquired thereafter. Non-Vehicle Debt Senior Secured Superpriority Debtor-in-Possession Credit Agreement ("DIP Credit Agreement") The DIP Facility matures on December 31, 2021 and has limited covenants and events of default, including one milestone requiring the filing of a plan of reorganization by August 1, 2021. On April 21, 2021, the Company received approval of its Proposed Plan and related Disclosure Statement, as further disclosed in Note 1, "Background." Vehicle Debt HVF II U.S. ABS Program On January 20, 2021, the Bankruptcy Court entered the Second Lease Order, which directed the Debtors, among other things, to make $756 million of base rent payments under the Operating Lease to the HVF trustee in the amount of nine equal monthly payments of $84 million commencing in January 2021 through September 2021. The parties have agreed to defer litigation related to the Operating Lease until September 30, 2021. HVF II is accruing default interest on the HVF II Variable Funding Notes and accruing non-default interest on the U.S. Vehicle Medium Term Notes. Non-default interest is being paid on the HVF II Variable Funding Notes and the U.S. Vehicle Medium Term Notes from funds drawn on existing letter of credit facilities, as described below. Vehicle Debt-Other European Vehicle Notes Hertz Netherlands and certain other international subsidiaries entered into a limited forbearance and lock-up agreement (the “Lock-up Agreement”), as extended, in respect of the European Vehicle Notes pursuant to which the majority noteholders agreed not to take action in respect of any default or event of default that could have resulted from the Chapter 11 Cases, in order to support a transaction set-forth in the Lock-up Agreement, and to be implemented by a scheme of arrangement (subject to conditions and approvals), subsequent to the waiver expiration on December 31, 2020. The transaction set out in the Lock-up Agreement was superseded by positive developments in the Chapter 11 Cases in April 2021 in which the Proposed Plan will both fully repay the European Vehicle Notes and also provide the necessary liquidity for the European business. On April 23, 2021, Hertz International Limited entered into a multi-draw term loan facility (the "HIL Credit Agreement") which provides an aggregate maximum principal of €250 million to meet the liquidity requirements of the European business. As a result, the Lock-Up Agreement has been terminated and the scheme arrangement has been cancelled. 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 amended from time to time) and, in April 2021, such waivers have been superseded by a comprehensive restructuring of the European ABS. The terms of the restructured European ABS provide for aggregate maximum borrowings of €450 million and extend the maturity to April 2022 and, in respect of the guarantees given by Hertz relating to these facilities, the terms of the restructuring also acknowledge that the Proposed Plan will provide for a complete release of any contingent claims. Hertz Canadian Securitization On January 13, 2021, the Bankruptcy Court entered an order authorizing the Debtors to enter into a new series under the Hertz Canadian Securitization, Funding LP Series 2021-A Notes. On January 27, 2021, Funding LP entered into aggregate maximum borrowings of CAD$350 million on a revolving basis, subject to availability under the borrowing base limitation. The initial draw was used, in part, to pay outstanding obligations under the Funding LP Series 2015-A Notes, including any unpaid default interest. As a result of the payoff of the Funding LP Series 2015-A Notes, the Hertz Canadian Securitization amortization event ceased to exist. U.K. Financing Facility 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 amended from time to time), and, in April 2021, such waivers have been superseded by a comprehensive restructuring of the U.K. Financing Facility. The terms of the restructured U.K. Financing Facility provide for aggregate maximum borrowings of £100 million and extend the maturity to April 2022 and, in respect of the guarantees given by Hertz relating to these facilities, the terms of the restructuring also acknowledge that the Proposed Plan will provide for a complete release of any contingent claims. 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 March 31, 2021 and are presented net of any outstanding letters of credit: (In millions) Remaining Availability Under Non-Vehicle Debt Senior RCF (1) $ — $ — Senior Secured Superpriority Debtor-in-Possession Credit Agreement 900 900 Letter of Credit Facility (1) — — Alternative Letter of Credit Facility (1) — — Total Non-Vehicle Debt 900 900 Vehicle Debt HVF II U.S. Vehicle Variable Funding Notes (1) — — HVIF Series 2020-1 3,119 35 European ABS 494 4 Hertz Canadian Securitization 183 — Australian Securitization 62 4 U.K. Financing Facility 19 — New Zealand RCF 21 — Total Vehicle Debt 3,898 43 Total $ 4,798 $ 943 (1) As a result of the filing of the Chapter 11 Cases, there is no longer remaining capacity or availability under these facilities, as such unused commitments were terminated. Letters of Credit As of March 31, 2021, there were outstanding standby letters of credit totaling $688 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, $278 million were issued under the Letter of Credit Facility, $194 million were issued under the Senior RCF and $200 million were issued under the Alternative Letter of Credit Facility. As of March 31, 2021, $142 million, $34 million and $23 million of the issued letters of credit have been drawn upon under the Alternative Letter of Credit Facility, Senior RCF and Letter of Credit Facility, respectively, to primarily fund interest payments due under the HVF II Notes and concession payments. The draws remain unreimbursed by the Company, and, except as otherwise set forth in orders from the Bankruptcy Court, the interest on the Senior RCF and Letter of Credit Facility draws are being paid on a monthly basis at a non-default rate, and interest on the Alternative Letter of Credit Facility draws are not being paid or accrued. 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 Interim Financing LLC, Hertz Vehicle Financing LLC, Rental Car Finance LLC 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 March 31, 2021 and December 31, 2020, IFF No. 2 had total assets of $393 million and $464 million, respectively, primarily comprised of loans receivable, and total liabilities of $393 million and $464 million, respectively, primarily comprised of debt. Covenant Compliance Prior to the filing of the Chapter 11 Cases, Hertz’s consolidated first lien net leverage ratio (the "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. 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, and the Company is in breach of the Leverage Ratio. The DIP Credit Agreement requires a liquidity maintenance test of $275 million, as defined in the DIP Credit Agreement, as of each month end period. As of March 31, 2021, Hertz was in compliance with the liquidity maintenance test.

Leases

Leases	3 Months Ended
	Mar. 31, 2021
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 mitigates residual value risk of its revenue earning vehicles by utilizing manufacturer repurchase and guaranteed depreciation programs, using sophisticated vehicle diagnostic and repair equipment to maintain the condition of its vehicles and through periodic reviews of vehicle depreciation rates based on management's ongoing assessment of present and estimated future market conditions. Prior to the Donlen Sale on March 30, 2021, as further disclosed in Note 3, "Divestitures," the Company had operating leases for fleets as part of its Donlen business which had lease periods that were typically for twelve months, after which the lease converted to a month-to-month lease, allowing the vehicle to be surrendered any time thereafter. These leases contained terminal rental adjustment clauses which were considered variable charges. As a result of the continuing impact from COVID-19 as disclosed in Note 1, "Background," the Company received rent concessions in the form of abatements of fixed and variable rent payments for certain of its airport and off airport locations in the amount of approximately $100 million during the three months ended March 31, 2021, which substantially represents amounts previously due in the period between January 1, 2021 and March 31, 2021. The Company elected to apply the accounting relief provided by the FASB and elected to not evaluate whether the concession is a modification. The Company will account for the concession as if it were part of the existing contract. In the first quarter of 2021, the Bankruptcy Court entered the Lease Rejection Orders which applied, in the aggregate, to 278 off airport and 26 airport locations in the Company's U.S. RAC segment. The following table summarizes the amount of operating lease income and other income included in total revenues in the accompanying unaudited condensed consolidated statements of operations: Three Months Ended (In millions) 2021 2020 Operating lease income from vehicle rentals $ 1,099 $ 1,637 Operating lease income from fleet leasing 149 169 Variable operating lease income 1 33 Revenue accounted for under Topic 842 1,249 1,839 Revenue accounted for under Topic 606 40 84 Total revenues $ 1,289 $ 1,923

Restructuring

Restructuring	3 Months Ended
	Mar. 31, 2021
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring Europe Restructuring Due to the continued impact from COVID-19 as disclosed in Note 1, "Background," and recent reductions in European government support, the Company initiated a restructuring program in March 2021 in its International RAC segment, primarily Ireland, affecting 150 employees. The Company accrued charges of $7 million for termination benefits at March 31, 2021, which were recorded in selling, general and administrative expenses in the accompanying unaudited condensed consolidated statement of operations for three months ended March 31, 2021. The program is expected to be completed within the next twelve months.

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit	3 Months Ended
	Mar. 31, 2021
Income Tax Disclosure [Abstract]
Income Tax (Provision) Benefit	Income Tax (Provision) Benefit On 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, temporary enhanced net operating loss ("NOL") utilization rules and a temporary increase to the interest deduction limitation. The Company has considered the income tax provisions of the CARES Act in the tax benefit calculations for the three months ended March 31, 2021 and 2020 as well the amounts reported for income taxes on the unaudited condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020. The Company continues to monitor global legislation issued in response to COVID-19. Hertz Global The effective tax rate is 29% and 1% for the three months ended March 31, 2021 and 2020, respectively. The effective tax rate is impacted and differs from the U.S. federal statutory rate of 21% as a result of the level and mix of earnings among tax jurisdiction and valuation allowances in certain jurisdictions. Hertz Global recorded a tax provision of $79 million for the three months ended March 31, 2021 compared to a tax benefit of $4 million for the three months ended March 31, 2020. The tax provision for the three months ended March 31, 2021 compared to the tax benefit for the 2020 period is primarily due to the gain on the Donlen Sale as disclosed in Note 3, "Divestitures." Hertz The effective tax rate is 29% and 1% for the three months ended March 31, 2021 and 2020, respectively. The effective tax rate is impacted and differs from the U.S. federal statutory rate of 21% as a result of the level and mix of earnings among tax jurisdiction and valuation allowances in certain jurisdictions. Hertz recorded a tax provision of $79 million for the three months ended March 31, 2021 compared to a tax benefit of $3 million for the three months ended March 31, 2020. The tax benefit for the three months ended March 31, 2021 compared to the tax benefit for the 2020 period is primarily to the gain on the Donlen Sale as disclosed in Note 3, "Divestitures."

Earnings (Loss) Per Share _ Her

Earnings (Loss) Per Share – Hertz Global	3 Months Ended
	Mar. 31, 2021
Earnings Per Share [Abstract]
Earnings (Loss) Per Share – Hertz Global	Earnings (Loss) Per Share – Hertz GlobalBasic 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. The following table sets forth the computation of basic and diluted earnings (loss) per share: Three Months Ended (In millions, except per share data) 2021 2020 Numerator: Net income (loss) attributable to Hertz Global $ 190 $ (356) Denominator: Basic weighted-average shares outstanding 156 142 Dilutive stock options, RSUs and PSUs 1 — Diluted weighted-average shares outstanding 157 142 Antidilutive stock options, RSUs, PSUs and PSAs 1 2 Earnings (loss) per share: Basic earnings (loss) per share $ 1.22 $ (2.50) Diluted earnings (loss) per share $ 1.21 $ (2.50)

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Assets and Liabilities Measured at Fair Value on a Recurring Basis Investments in equity securities that were measured at fair value on a recurring basis consisted of marketable securities which the Company divested of in the first quarter of 2020. See Note 3, "Divestitures," for further information. Fair Value Disclosures The fair value of cash, restricted cash, accounts receivable, accounts payable and accrued liabilities, to the extent the underlying liability will be settled in cash, approximates the carrying values because of the short-term nature of these instruments. The Company’s cash equivalents and restricted cash equivalents primarily consist of investments in money market funds and bank money market and interest-bearing accounts. The Company determines the fair value of cash equivalents and restricted cash equivalents using a market approach based on quoted prices in active markets (i.e., Level 1 inputs). The following table summarizes the ending balances of the Company's cash equivalents and restricted cash equivalents: March 31, 2021 December 31, 2020 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash equivalents $ 1,567 $ — $ — $ 1,567 $ 723 $ — $ — $ 723 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). March 31, 2021 As of December 31, 2020 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Non-Vehicle Debt (1) $ 5,313 $ 5,316 $ 4,747 $ 3,382 Vehicle Debt 6,340 6,254 6,087 6,021 Total $ 11,653 $ 11,570 $ 10,834 $ 9,403 (1) Includes Non-Vehicle Debt included in liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020. See Note 6, "Debt." Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis Donlen Assets At December 31, 2020 as a result of the then impending Donlen Sale, the associated assets and liabilities were classified as assets held for sale and liabilities held for sale, respectively, in the accompanying unaudited condensed consolidated balance sheet as of December 31, 2020 and were recorded at the lower of carrying value or fair value less any costs to sell. The Company completed the Donlen Sale in March 2021. See Note 3, "Divestitures," for additional information.

Contingencies and Off-Balance S

Contingencies and Off-Balance Sheet Commitments	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Off-Balance Sheet Commitments	Contingencies and Off-Balance Sheet Commitments Legal Proceedings Self-Insured Liabilities The Company is currently a defendant in numerous actions and has received numerous claims on which actions have not yet commenced for self-insured liabilities arising from the operation of motor vehicles rented from the Company. The obligation for self-insured liabilities on self-insured U.S. and international vehicles, as stated in the accompanying unaudited condensed consolidated balance sheets, represents an estimate for both reported accident claims not yet paid and claims incurred but not yet reported. The related liabilities are recorded on an undiscounted basis and are based on rental volume and actuarial evaluations of historical accident claim experience and trends, as well as future projections of ultimate losses, expenses, premiums and administrative costs. As of March 31, 2021 and December 31, 2020, the Company's liability recorded for self-insured liabilities is $470 million and $488 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 proceeding to which the Company was a party during the period ending March 31, 2021 or the period after March 31, 2021, but before the filing of this Quarterly Report on Form 10-Q. 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 2020 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 (disclosed below). On September 30, 2019, the federal district court of New Jersey denied the plaintiffs’ motion for relief from the April 27, 2017 judgment and a related motion to allow the filing of a proposed fifth amended complaint. On October 30, 2019, the plaintiffs filed a notice of appeal with the U.S. Court of Appeals for the Third Circuit. The parties fully briefed the appeal and oral argument had been scheduled for June 19, 2020. As a result of the Company's bankruptcy, the appeal was stayed as to the Company, but the plaintiffs advocated that the appeal could proceed against the individual defendants. On October 13, 2020, the Third Circuit affirmed the District Court’s dismissal of the plaintiffs’ motion for relief against the individual defendants since the motion was not timely filed and the appeal as to the Company remained stayed. In February 2021, the parties participated in a bankruptcy-related mediation process and arrived at a tentative settlement wherein the Company would pay a $250,000 cash settlement. In return, the plaintiffs would voluntarily dismiss all claims in the underlying action with prejudice and withdraw the plaintiffs’ Proofs of Claim with prejudice. On March 12, 2021, the Bankruptcy Court approved the tentative settlement and the terms of the settlement have now been fully implemented. This matter is now closed. In addition to the matters described above, the Company maintains an internal compliance program through which it from time to time identifies other potential violations of laws and regulations applicable to the Company. When the Company identifies such matters, the Company conducts an internal investigation and otherwise cooperates with governmental authorities, as appropriate. The Company has established reserves for matters where the Company believes that losses are probable and can be reasonably estimated. Other than the aggregate reserve established for claims for self-insured liabilities, none of those reserves are material. For matters, including the matter 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, could be decided unfavorably to the Company or any of its subsidiaries involved. Accordingly, it is possible that an adverse outcome from such a proceeding could exceed the amount accrued in an amount that could be material to the Company's consolidated financial condition, results of operations or cash flows in any particular reporting period. Other Proceedings Litigation Against Former Executives - The Company filed litigation in the U.S. District Court for the District of New Jersey against Mark Frissora, Elyse Douglas and John Jefferey Zimmerman on March 25, 2019, and in state court in Florida against Scott Sider on March 28, 2019, all of whom were former executive officers of Old Hertz Holdings. The complaints predominantly allege breach of contract and seek repayment of incentive-based compensation received by the defendants in connection with restatements included in the Old Hertz Holdings Form 10-K for the year ended December 31, 2014 and related accounting for prior periods. The Company is also seeking recovery for the costs of the SEC investigation that resulted in an administrative order on December 31, 2018 with respect to events generally involving the restatements included in Old Hertz Holdings Form 10-K for the year ended December 31, 2014 and other damages resulting from the necessity of the restatements. The Company is pursuing these legal proceedings in accordance with its clawback policy and contractual rights. The parties are currently involved in motion practice in the New Jersey action and discovery and depositions have commenced in the Florida action. In October 2019, the Company entered into a confidential Settlement Agreement with Elyse Douglas. In September and October 2020, the judge in the New Jersey action entered orders requiring the parties and applicable insurers to attend and participate in mediation. The attorneys in the Florida action voluntarily agreed to participate in the same mediation which was held on November 30, 2020. The mediation was unsuccessful, but settlement discussions continued and, on April 14, 2021, the Bankruptcy Court approved a Settlement Agreement between the Company and Scott Sider. Depositions are continuing in the New Jersey action. 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	3 Months Ended
	Mar. 31, 2021
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions 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 was based on the U.S. Dollar LIBOR rate plus a margin. As a result of filing the Chapter 11 Cases, as disclosed in Note 1, "Background," the full amount outstanding under the 2019 Master Loan was deemed uncollectible, resulting in a charge of $133 million during the second quarter of 2020. 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 sheets of Hertz as of March 31, 2021 and December 31, 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 "New Loan"). The interest rate is based on the U.S. Dollar LIBOR rate plus a margin. As of March 31, 2021 and December 31, 2020, there was $1 million, respectively, outstanding under the New Loan. 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, a related party during the first quarter of 2020, the option to acquire certain vehicles from Hertz at rates aligned with the rates at which Hertz sells vehicles to third parties. 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, 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 Carl C. Icahn and his affiliates. During the three months ended March 31, 2021, 767 distributed $10 million to AEPC along with the return of certain vehicles, and there were no cash contributions from AEPC to 767. There were no cash distributions or contributions to or from AEPC during the three months ended March 31, 2020, except for certain services.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2021
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 (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 (cars, vans, crossovers and light trucks), as well as sales of value-added services, internationally and consists of the Company's Europe and Other International operating segments, which are aggregated into a reportable segment based primarily upon similar economic characteristics, products and services, customers, delivery methods and general regulatory environments; and • All Other Operations – primarily consists of the Company's Donlen vehicle leasing and fleet management business, which was sold on March 30, 2021, together with other business activities which represented less than 1% of revenues and expenses of the segment. See Note 3, "Divestitures," for further information. As a result of the Donlen Sale, the Company will be revising its reportable segments in the second quarter of 2021, and All Other Operations will no longer be a reportable segment. 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 (In millions) 2021 2020 Revenues U.S. Rental Car $ 946 $ 1,381 International Rental Car 207 368 All Other Operations (1) 136 174 Total Hertz Global and Hertz $ 1,289 $ 1,923 Depreciation of revenue earning vehicles and lease charges U.S. Rental Car $ 205 $ 463 International Rental Car 38 89 All Other Operations (1)(2) — 125 Total Hertz Global and Hertz $ 243 $ 677 Adjusted EBITDA U.S. Rental Car $ 24 $ (199) International Rental Car (6) (45) All Other Operations (1) 13 24 Corporate (29) (23) Total Hertz Global and Hertz $ 2 $ (243) (1) Substantially all of this reportable segment is comprised of the Company's Donlen business, which was sold on March 30, 2021 as disclosed in Note 3, "Divestitures." (2) The decrease in depreciation of revenue earning vehicles and lease charges is due to the suspension of depreciation for the Donlen business while classified as held for sale, prior to closing on March 30, 2021 as disclosed in Note 3, "Divestitures." (In millions) March 31, 2021 December 31, 2020 Total assets U.S. Rental Car $ 11,509 $ 11,042 International Rental Car 2,940 2,956 All Other Operations (1) 1 1,818 Corporate 2,160 1,092 Total Hertz Global (2) 16,610 16,908 Corporate - Hertz (3) (28) (28) Total Hertz (2) $ 16,582 $ 16,880 (1) Substantially all of this reportable segment is comprised of the Company's Donlen business, which was sold on March 30, 2021 as disclosed in Note 3, "Divestitures." At December 31, 2020, includes $1.8 billion of Donlen's assets which were classified as held for sale in the accompanying unaudited condensed consolidated balance sheet. (2) The consolidated total assets of Hertz Global and Hertz as of March 31, 2021 and December 31, 2020 include total assets of VIEs of $513 million and $511 million, respectively, which can only be used to settle obligations of the VIEs. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information. (3) Excludes net proceeds of $28 million from an open market sale of Hertz Global common stock completed in June 2020, which is included in non-vehicle restricted cash in the accompanying unaudited condensed consolidated balance sheets at March 31, 2021 and December 31, 2020. Reconciliations of Adjusted EBITDA by reportable segment to consolidated amounts are summarized below: Hertz Global Three Months Ended (In millions) 2021 2020 Adjusted EBITDA: U.S. Rental Car $ 24 $ (199) International Rental Car (6) (45) All Other Operations (1) 13 24 Total reportable segments 31 (220) Corporate (2) (29) (23) Total Hertz Global 2 (243) Adjustments: Non-vehicle depreciation and amortization (54) (53) Non-vehicle debt interest, net (44) (57) Vehicle debt-related charges (3) (28) (9) Restructuring and restructuring related charges (4) (12) (7) Information technology and finance transformation costs (5) (6) (17) Reorganization items, net (6) (42) — Pre-reorganization charges and non-debtor financing charges (7) (23) — Gain from the Donlen Sale (8) 392 — Other items (9) 83 25 Income (loss) before income taxes $ 268 $ (361) Hertz Three Months Ended (In millions) 2021 2020 Adjusted EBITDA: U.S. Rental Car $ 24 $ (199) International Rental Car (6) (45) All Other Operations (1) 13 24 Total reportable segments 31 (220) Corporate (2) (29) (23) Total Hertz Global 2 (243) Adjustments: Non-vehicle depreciation and amortization (54) (53) Non-vehicle debt interest, net (44) (55) Vehicle debt-related charges (3) (28) (9) Restructuring and restructuring related charges (4) (12) (7) Information technology and finance transformation costs (5) (6) (17) Reorganization items, net (6) (42) — Pre-reorganization charges and non-debtor financing charges (7) (23) — Gain from the Donlen Sale (8) 392 — Other items (9) 83 25 Income (loss) before income taxes $ 268 $ (359) (1) Substantially all of this reportable segment is comprised of the Company's Donlen business, which was sold on March 30, 2021 as disclosed in Note 3, "Divestitures." (2) Represents other reconciling items primarily consisting of general corporate expenses, non-vehicle interest expense, as well as other business activities. (3) Represents vehicle debt-related charges relating to the amortization of deferred financing costs and debt discounts and premiums. (4) Represents charges incurred under restructuring actions as defined in U.S. GAAP, excluding impairments and asset write-downs. See Note 8, "Restructuring," for further information. Also includes restructuring related charges such as incremental costs incurred directly supporting business transformation initiatives. (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." (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. Also, includes certain non-debtor financing and professional fee charges. (8) Represents the net gain from the sale of the Company's Donlen business on March 30, 2021 as disclosed in Note 3, "Divestitures." (9) Represents miscellaneous items, including non-cash stock-based compensation charges, and amounts attributable to noncontrolling interests. For the three months ended March 31, 2021, also includes $100 million associated with the suspension of depreciation for the Donlen business while classified as held for sale, partially offset by charges for a multiemployer pension plan withdrawal liability. For the three months ended March 31, 2020, also includes a $20 million gain on the sale of non-vehicle capital assets and $13 million in unrealized gains on derivative financial instruments.

Liabilities Subject to Compromi

Liabilities Subject to Compromise	3 Months Ended
	Mar. 31, 2021
Reorganizations [Abstract]
Liabilities Subject to Compromise	Liabilities Subject to Compromise The accompanying unaudited condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020 include 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 statement of operations. The following table summarizes liabilities subject to compromise: (In millions) March 31, 2021 December 31, 2020 Accounts payable $ 239 $ 267 Accrued liabilities (1) 139 166 Accrued taxes, net 16 19 Accrued interest on debt subject to compromise 73 70 Debt subject to compromise (2) 4,511 4,443 Liabilities subject to compromise - Hertz Global $ 4,978 $ 4,965 Due from Affiliate - Hertz (3) 65 65 Liabilities subject to compromise - Hertz $ 5,043 $ 5,030 (1) Includes $24 million of U.S. pension benefit obligation reported as liabilities subject to compromise as of March 31, 2021 and December 31, 2020. (2) See Note 6, "Debt," for details of Pre-petition, non-vehicle debt reported as liabilities subject to compromise as of March 31, 2021 and December 31, 2020. (3) 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 March 31, 2021 and December 31, 2020.

Reorganization Items, Net

Reorganization Items, Net	3 Months Ended
	Mar. 31, 2021
Reorganizations [Abstract]
Reorganization Items, Net	Liabilities Subject to Compromise The accompanying unaudited condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020 include 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 statement of operations. The following table summarizes liabilities subject to compromise: (In millions) March 31, 2021 December 31, 2020 Accounts payable $ 239 $ 267 Accrued liabilities (1) 139 166 Accrued taxes, net 16 19 Accrued interest on debt subject to compromise 73 70 Debt subject to compromise (2) 4,511 4,443 Liabilities subject to compromise - Hertz Global $ 4,978 $ 4,965 Due from Affiliate - Hertz (3) 65 65 Liabilities subject to compromise - Hertz $ 5,043 $ 5,030 (1) Includes $24 million of U.S. pension benefit obligation reported as liabilities subject to compromise as of March 31, 2021 and December 31, 2020. (2) See Note 6, "Debt," for details of Pre-petition, non-vehicle debt reported as liabilities subject to compromise as of March 31, 2021 and December 31, 2020. (3) 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 March 31, 2021 and December 31, 2020.

Condensed Combined Debtor in Po

Condensed Combined Debtor in Possession Financial Information	3 Months Ended
	Mar. 31, 2021
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. Amounts reported for Hertz Global and Hertz are substantially the same, with the exception of that related to interest expense (income) and tax provision (benefit), as well as activity associated with the master loan agreement between Hertz and Hertz Global as disclosed in Note 13, "Related Party Transactions." THE DEBTORS CONDENSED COMBINED BALANCE SHEET (in millions) March 31, 2021 December 31, 2020 ASSETS Cash and cash equivalents $ 534 $ 492 Restricted cash and cash equivalents 1,179 305 Total cash, cash equivalents, restricted cash and restricted cash equivalents 1,713 797 Receivables, net 404 388 Due from non-debtor affiliates 51,607 51,638 Prepaid expenses and other assets 265 183 Revenue earning vehicles, net 5 37 Property and equipment, net 530 549 Operating lease right-of-use assets 1,353 1,424 Investment in subsidiaries, net 4,893 4,527 Intangible assets, net 2,966 2,988 Goodwill 488 488 Assets held for sale (1) — 173 Total assets $ 64,224 $ 63,192 LIABILITIES AND EQUITY Accounts payable $ 219 $ 200 Accrued liabilities 477 412 Accrued taxes, net 84 48 Debt 740 242 Operating lease liabilities 1,314 1,385 Self-insured liabilities 243 251 Deferred income taxes, net 1,208 887 Total liabilities not subject to compromise 4,285 3,425 Liabilities subject to compromise 59,674 59,637 Liabilities held for sale (1) — 74 Total liabilities 63,959 63,136 Total equity attributable to the Debtors 265 56 Total liabilities and equity $ 64,224 $ 63,192 (1) At December 31, 2020, the assets and certain liabilities of the Company's Donlen business were classified as assets held for sale and liabilities held for sale, respectively. On March 30, 2021, the Company's Donlen business was sold as disclosed in Note 3, "Divestitures." THE DEBTORS CONDENSED COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (in millions) Three Months Ended Total revenues $ 942 Expenses: Direct vehicle and operating 687 Depreciation of revenue earning vehicles and lease charges 322 Selling, general and administrative 117 Interest (income) expense, net 34 Other (income) expense, net 18 Reorganization items, net 42 (Gain) from the sale of a business (392) Total expenses 828 Income (loss) before income taxes and equity in earnings (losses) of non-debtor entities 114 Income tax (provision) benefit (335) Equity in earnings (losses) of non-debtor entities 411 Net income (loss) 190 Total other comprehensive income (loss), net of tax 17 Comprehensive income (loss) attributable to the Debtors $ 207 THE DEBTORS CONDENSED COMBINED STATEMENT OF CASH FLOWS (in millions) Three Months Ended Net cash provided by (used in) operating activities $ (53) Cash flows from investing activities: Revenue earning vehicles expenditures (10) Proceeds from disposal of revenue earning vehicles (25) Non-vehicle capital asset expenditures (8) Proceeds from non-vehicle capital assets disposed of 3 Proceeds from the sale of business, net of cash sold 818 Capital contributions to non-debtor entities (411) Return of capital from non-debtor entities 43 Net cash provided by (used in) investing activities 410 Cash flows from financing activities: Proceeds from issuance of non-vehicle debt 560 Repayments of non-vehicle debt (1) Net cash provided by (used in) financing activities 559 Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period 916 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 797 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ 1,713

Basis of Presentation and Rec_2

Basis of Presentation and Recently Issued Accounting Pronouncements (Policies)	3 Months Ended
	Mar. 31, 2021
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 Not Yet Adopted Scope of Reference Rate Reform In January 2021, the Financial Accounting Standards Board ("FASB") issued guidance that clarifies that entities with derivative instruments affected by changes to the interest rates used for discounting, margining or contract price alignment due to reference rate reform may elect to apply certain optional expedients and exceptions, including contract modification relief, provided in Topic 848. Entities may elect to apply the guidance on contract modifications either (1) retrospectively as of any date from the beginning of any interim period that includes March 12, 2020 or (2) prospectively to new modifications from any date in an interim period that includes or is after January 7, 2021, up to the date that financial statements are available to be issued. The Company is in the process of assessing the available expedients and exceptions and, if applicable, the method and timing of adoption.

Revenue Earning Vehicles (Table

Revenue Earning Vehicles (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Components of Revenue Earning Vehicles, Net	The components of revenue earning vehicles, net are as follows: (In millions) March 31, December 31, Revenue earning vehicles $ 7,800 $ 7,492 Less accumulated depreciation (1,520) (1,467) 6,280 6,025 Revenue earning vehicles held for sale, net (1) 80 37 Revenue earning vehicles, net $ 6,360 $ 6,062 (1) Represents the carrying amount of vehicles currently placed on the Company's retail lots for sale or actively in the process of being sold through other disposition channels.

Debt (Tables)

Debt (Tables)	3 Months Ended
	Mar. 31, 2021
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 March 31, December 31, Non-Vehicle Debt Senior Secured Superpriority Debtor-in-Possession Credit Agreement 8.25% Floating 12/2021 $ 750 $ 250 Other Non-Vehicle Debt 8.25% Fixed Various 16 18 Unamortized Debt Issuance Costs and Net (Discount) Premium (26) (25) Total Non-Vehicle Debt Not Subject to Compromise 740 243 Non-Vehicle Debt Subject to Compromise Senior Term Loan 3.50% Floating 6/2023 656 656 Senior RCF 3.38% Floating 6/2021 615 615 Senior Notes (1) 6.11% Fixed 10/2022-1/2028 2,700 2,700 Senior Second Priority Secured Notes 7.63% Fixed 6/2022 350 350 Promissory Notes 7.00% Fixed 1/2028 27 27 Alternative Letter of Credit Facility (2) 5.25% Floating 11/2023 142 114 Senior RCF Letter of Credit Facility 5.50% Floating 6/2021 34 17 Letter of Credit Facility 5.50% Floating 6/2021 23 — Unamortized Debt Issuance Costs and Net (Discount) Premium (36) (36) Total Non-Vehicle Debt Subject to Compromise 4,511 4,443 Vehicle Debt HVF II U.S. ABS Program HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A (3)(4) 3.41% Floating 3/2022 1,665 1,940 1,665 1,940 HVF II U.S. Vehicle Medium Term Notes HVF II Series 2015-3 (4) 3.78% Fixed 9/2020 144 163 HVF II Series 2016-2 (4) 4.12% Fixed 3/2021 232 263 HVF II Series 2016-4 (4) 3.78% Fixed 7/2021 165 187 HVF II Series 2017-1 (4) 4.03% Fixed 10/2020 176 199 HVF II Series 2017-2 (4) 4.45% Fixed 10/2022 145 164 HVF II Series 2018-1 (4) 3.93% Fixed 2/2023 414 468 HVF II Series 2018-2 (4) 4.40% Fixed 6/2021 84 94 HVF II Series 2018-3 (4) 4.69% Fixed 7/2023 84 95 Facility Weighted-Average Interest Rate Fixed or Maturity March 31, December 31, HVF II Series 2019-1 (4) 4.45% Fixed 3/2022 292 330 HVF II Series 2019-2 (4) 4.05% Fixed 5/2024 313 354 HVF II Series 2019-3 (4) 3.30% Fixed 12/2024 311 352 2,360 2,669 HVIF U.S. Fleet Medium Term Notes: HVIF Series 2020-1 3.53% Fixed 11/2021 881 — 881 — Vehicle Debt - Other European Vehicle Notes (5) 5.07% Fixed 10/2021-3/2023 853 888 European ABS (4) 1.60% Floating 11/2021 212 263 Hertz Canadian Securitization (4) 2.44% Floating 1/2023 95 53 Australian Securitization (4) 1.66% Floating 6/2021 99 97 New Zealand RCF 2.95% Floating 6/2021 31 35 U.K. Financing Facility 3.03% Floating 4/2021-2/2024 91 105 Other Vehicle Debt 3.35% Floating 4/2021-11/2024 53 37 1,434 1,478 Unamortized Debt Issuance Costs and Net (Discount) Premium (54) (63) Total Vehicle Debt Not Subject to Compromise 6,286 6,024 Total Debt Not Subject to Compromise $ 7,026 $ 6,267 (1) 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 sheets as of March 31, 2021 and December 31, 2020. Outstanding principal amounts for each such series of the Senior Notes is also specified below: (In millions) Outstanding Principal Senior Notes March 31, 2021 December 31, 2020 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 (2) Includes default interest. (3) Includes default interest which is comprised of an increase in the contractual spread. (4) Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness originally expected the outstanding principal of the relevant indebtedness to be repaid in full. The legal final maturity date is the date on which the outstanding principal of the relevant indebtedness is legally due and payable in full. While HVF II remains in an amortization event, as described below, the expected maturity will deviate from its stated, contractual maturity date during amortization as payoff is based on the sale of the underlying vehicles and the pro-rata application of those proceeds across all outstanding HVF II Series of Notes in accordance with their seniority. During the amortization event, the ultimate maturity of the notes will depend upon the length of time the underlying vehicle collateral is sold or the timing of the refinancing of the notes. (5) References to the "European Vehicle Notes" include the series of Hertz Holdings Netherlands B.V.'s, an indirect wholly-owned subsidiary of Hertz organized under the laws of the Netherlands, ("Hertz Netherlands") unsecured senior notes (converted from Euros to U.S. Dollars at a rate of 1.18 to 1 and 1.22 to 1 as of March 31, 2021 and December 31, 2020, 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 March 31, 2021 December 31, 2020 4.125% Senior Notes due October 2021 $ 265 $ 276 5.500% Senior Notes due March 2023 588 612 $ 853 $ 888 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). March 31, 2021 As of December 31, 2020 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Non-Vehicle Debt (1) $ 5,313 $ 5,316 $ 4,747 $ 3,382 Vehicle Debt 6,340 6,254 6,087 6,021 Total $ 11,653 $ 11,570 $ 10,834 $ 9,403 (1) Includes Non-Vehicle Debt included in liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020. See Note 6, "Debt."
Schedule of Facilities Available for the Use of the Company and Subsidiaries	The following facilities were available to the Company as of March 31, 2021 and are presented net of any outstanding letters of credit: (In millions) Remaining Availability Under Non-Vehicle Debt Senior RCF (1) $ — $ — Senior Secured Superpriority Debtor-in-Possession Credit Agreement 900 900 Letter of Credit Facility (1) — — Alternative Letter of Credit Facility (1) — — Total Non-Vehicle Debt 900 900 Vehicle Debt HVF II U.S. Vehicle Variable Funding Notes (1) — — HVIF Series 2020-1 3,119 35 European ABS 494 4 Hertz Canadian Securitization 183 — Australian Securitization 62 4 U.K. Financing Facility 19 — New Zealand RCF 21 — Total Vehicle Debt 3,898 43 Total $ 4,798 $ 943 (1) As a result of the filing of the Chapter 11 Cases, there is no longer remaining capacity or availability under these facilities, as such unused commitments were terminated.

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2021
Leases [Abstract]
Operating Lease, Lease Income	The following table summarizes the amount of operating lease income and other income included in total revenues in the accompanying unaudited condensed consolidated statements of operations: Three Months Ended (In millions) 2021 2020 Operating lease income from vehicle rentals $ 1,099 $ 1,637 Operating lease income from fleet leasing 149 169 Variable operating lease income 1 33 Revenue accounted for under Topic 842 1,249 1,839 Revenue accounted for under Topic 606 40 84 Total revenues $ 1,289 $ 1,923

Earnings (Loss) Per Share _ H_2

Earnings (Loss) Per Share – Hertz Global (Tables)	3 Months Ended
	Mar. 31, 2021
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 (In millions, except per share data) 2021 2020 Numerator: Net income (loss) attributable to Hertz Global $ 190 $ (356) Denominator: Basic weighted-average shares outstanding 156 142 Dilutive stock options, RSUs and PSUs 1 — Diluted weighted-average shares outstanding 157 142 Antidilutive stock options, RSUs, PSUs and PSAs 1 2 Earnings (loss) per share: Basic earnings (loss) per share $ 1.22 $ (2.50) Diluted earnings (loss) per share $ 1.21 $ (2.50)

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2021
Fair Value Disclosures [Abstract]
Cash, Cash Equivalents and Investments	The following table summarizes the ending balances of the Company's cash equivalents and restricted cash equivalents: March 31, 2021 December 31, 2020 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Cash equivalents $ 1,567 $ — $ — $ 1,567 $ 723 $ — $ — $ 723
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 March 31, December 31, Non-Vehicle Debt Senior Secured Superpriority Debtor-in-Possession Credit Agreement 8.25% Floating 12/2021 $ 750 $ 250 Other Non-Vehicle Debt 8.25% Fixed Various 16 18 Unamortized Debt Issuance Costs and Net (Discount) Premium (26) (25) Total Non-Vehicle Debt Not Subject to Compromise 740 243 Non-Vehicle Debt Subject to Compromise Senior Term Loan 3.50% Floating 6/2023 656 656 Senior RCF 3.38% Floating 6/2021 615 615 Senior Notes (1) 6.11% Fixed 10/2022-1/2028 2,700 2,700 Senior Second Priority Secured Notes 7.63% Fixed 6/2022 350 350 Promissory Notes 7.00% Fixed 1/2028 27 27 Alternative Letter of Credit Facility (2) 5.25% Floating 11/2023 142 114 Senior RCF Letter of Credit Facility 5.50% Floating 6/2021 34 17 Letter of Credit Facility 5.50% Floating 6/2021 23 — Unamortized Debt Issuance Costs and Net (Discount) Premium (36) (36) Total Non-Vehicle Debt Subject to Compromise 4,511 4,443 Vehicle Debt HVF II U.S. ABS Program HVF II U.S. Vehicle Variable Funding Notes HVF II Series 2013-A (3)(4) 3.41% Floating 3/2022 1,665 1,940 1,665 1,940 HVF II U.S. Vehicle Medium Term Notes HVF II Series 2015-3 (4) 3.78% Fixed 9/2020 144 163 HVF II Series 2016-2 (4) 4.12% Fixed 3/2021 232 263 HVF II Series 2016-4 (4) 3.78% Fixed 7/2021 165 187 HVF II Series 2017-1 (4) 4.03% Fixed 10/2020 176 199 HVF II Series 2017-2 (4) 4.45% Fixed 10/2022 145 164 HVF II Series 2018-1 (4) 3.93% Fixed 2/2023 414 468 HVF II Series 2018-2 (4) 4.40% Fixed 6/2021 84 94 HVF II Series 2018-3 (4) 4.69% Fixed 7/2023 84 95 Facility Weighted-Average Interest Rate Fixed or Maturity March 31, December 31, HVF II Series 2019-1 (4) 4.45% Fixed 3/2022 292 330 HVF II Series 2019-2 (4) 4.05% Fixed 5/2024 313 354 HVF II Series 2019-3 (4) 3.30% Fixed 12/2024 311 352 2,360 2,669 HVIF U.S. Fleet Medium Term Notes: HVIF Series 2020-1 3.53% Fixed 11/2021 881 — 881 — Vehicle Debt - Other European Vehicle Notes (5) 5.07% Fixed 10/2021-3/2023 853 888 European ABS (4) 1.60% Floating 11/2021 212 263 Hertz Canadian Securitization (4) 2.44% Floating 1/2023 95 53 Australian Securitization (4) 1.66% Floating 6/2021 99 97 New Zealand RCF 2.95% Floating 6/2021 31 35 U.K. Financing Facility 3.03% Floating 4/2021-2/2024 91 105 Other Vehicle Debt 3.35% Floating 4/2021-11/2024 53 37 1,434 1,478 Unamortized Debt Issuance Costs and Net (Discount) Premium (54) (63) Total Vehicle Debt Not Subject to Compromise 6,286 6,024 Total Debt Not Subject to Compromise $ 7,026 $ 6,267 (1) 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 sheets as of March 31, 2021 and December 31, 2020. Outstanding principal amounts for each such series of the Senior Notes is also specified below: (In millions) Outstanding Principal Senior Notes March 31, 2021 December 31, 2020 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 (2) Includes default interest. (3) Includes default interest which is comprised of an increase in the contractual spread. (4) Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness originally expected the outstanding principal of the relevant indebtedness to be repaid in full. The legal final maturity date is the date on which the outstanding principal of the relevant indebtedness is legally due and payable in full. While HVF II remains in an amortization event, as described below, the expected maturity will deviate from its stated, contractual maturity date during amortization as payoff is based on the sale of the underlying vehicles and the pro-rata application of those proceeds across all outstanding HVF II Series of Notes in accordance with their seniority. During the amortization event, the ultimate maturity of the notes will depend upon the length of time the underlying vehicle collateral is sold or the timing of the refinancing of the notes. (5) References to the "European Vehicle Notes" include the series of Hertz Holdings Netherlands B.V.'s, an indirect wholly-owned subsidiary of Hertz organized under the laws of the Netherlands, ("Hertz Netherlands") unsecured senior notes (converted from Euros to U.S. Dollars at a rate of 1.18 to 1 and 1.22 to 1 as of March 31, 2021 and December 31, 2020, 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 March 31, 2021 December 31, 2020 4.125% Senior Notes due October 2021 $ 265 $ 276 5.500% Senior Notes due March 2023 588 612 $ 853 $ 888 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). March 31, 2021 As of December 31, 2020 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Non-Vehicle Debt (1) $ 5,313 $ 5,316 $ 4,747 $ 3,382 Vehicle Debt 6,340 6,254 6,087 6,021 Total $ 11,653 $ 11,570 $ 10,834 $ 9,403 (1) Includes Non-Vehicle Debt included in liabilities subject to compromise in the accompanying unaudited condensed consolidated balance sheets as of March 31, 2021 and December 31, 2020. See Note 6, "Debt."

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2021
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 (In millions) 2021 2020 Revenues U.S. Rental Car $ 946 $ 1,381 International Rental Car 207 368 All Other Operations (1) 136 174 Total Hertz Global and Hertz $ 1,289 $ 1,923 Depreciation of revenue earning vehicles and lease charges U.S. Rental Car $ 205 $ 463 International Rental Car 38 89 All Other Operations (1)(2) — 125 Total Hertz Global and Hertz $ 243 $ 677 Adjusted EBITDA U.S. Rental Car $ 24 $ (199) International Rental Car (6) (45) All Other Operations (1) 13 24 Corporate (29) (23) Total Hertz Global and Hertz $ 2 $ (243) (1) Substantially all of this reportable segment is comprised of the Company's Donlen business, which was sold on March 30, 2021 as disclosed in Note 3, "Divestitures." (2) The decrease in depreciation of revenue earning vehicles and lease charges is due to the suspension of depreciation for the Donlen business while classified as held for sale, prior to closing on March 30, 2021 as disclosed in Note 3, "Divestitures." (In millions) March 31, 2021 December 31, 2020 Total assets U.S. Rental Car $ 11,509 $ 11,042 International Rental Car 2,940 2,956 All Other Operations (1) 1 1,818 Corporate 2,160 1,092 Total Hertz Global (2) 16,610 16,908 Corporate - Hertz (3) (28) (28) Total Hertz (2) $ 16,582 $ 16,880 (1) Substantially all of this reportable segment is comprised of the Company's Donlen business, which was sold on March 30, 2021 as disclosed in Note 3, "Divestitures." At December 31, 2020, includes $1.8 billion of Donlen's assets which were classified as held for sale in the accompanying unaudited condensed consolidated balance sheet. (2) The consolidated total assets of Hertz Global and Hertz as of March 31, 2021 and December 31, 2020 include total assets of VIEs of $513 million and $511 million, respectively, which can only be used to settle obligations of the VIEs. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information. (3) Excludes net proceeds of $28 million from an open market sale of Hertz Global common stock completed in June 2020, which is included in non-vehicle restricted cash in the accompanying unaudited condensed consolidated balance sheets at March 31, 2021 and December 31, 2020. Reconciliations of Adjusted EBITDA by reportable segment to consolidated amounts are summarized below: Hertz Global Three Months Ended (In millions) 2021 2020 Adjusted EBITDA: U.S. Rental Car $ 24 $ (199) International Rental Car (6) (45) All Other Operations (1) 13 24 Total reportable segments 31 (220) Corporate (2) (29) (23) Total Hertz Global 2 (243) Adjustments: Non-vehicle depreciation and amortization (54) (53) Non-vehicle debt interest, net (44) (57) Vehicle debt-related charges (3) (28) (9) Restructuring and restructuring related charges (4) (12) (7) Information technology and finance transformation costs (5) (6) (17) Reorganization items, net (6) (42) — Pre-reorganization charges and non-debtor financing charges (7) (23) — Gain from the Donlen Sale (8) 392 — Other items (9) 83 25 Income (loss) before income taxes $ 268 $ (361) Hertz Three Months Ended (In millions) 2021 2020 Adjusted EBITDA: U.S. Rental Car $ 24 $ (199) International Rental Car (6) (45) All Other Operations (1) 13 24 Total reportable segments 31 (220) Corporate (2) (29) (23) Total Hertz Global 2 (243) Adjustments: Non-vehicle depreciation and amortization (54) (53) Non-vehicle debt interest, net (44) (55) Vehicle debt-related charges (3) (28) (9) Restructuring and restructuring related charges (4) (12) (7) Information technology and finance transformation costs (5) (6) (17) Reorganization items, net (6) (42) — Pre-reorganization charges and non-debtor financing charges (7) (23) — Gain from the Donlen Sale (8) 392 — Other items (9) 83 25 Income (loss) before income taxes $ 268 $ (359) (1) Substantially all of this reportable segment is comprised of the Company's Donlen business, which was sold on March 30, 2021 as disclosed in Note 3, "Divestitures." (2) Represents other reconciling items primarily consisting of general corporate expenses, non-vehicle interest expense, as well as other business activities. (3) Represents vehicle debt-related charges relating to the amortization of deferred financing costs and debt discounts and premiums. (4) Represents charges incurred under restructuring actions as defined in U.S. GAAP, excluding impairments and asset write-downs. See Note 8, "Restructuring," for further information. Also includes restructuring related charges such as incremental costs incurred directly supporting business transformation initiatives. (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." (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. Also, includes certain non-debtor financing and professional fee charges. (8) Represents the net gain from the sale of the Company's Donlen business on March 30, 2021 as disclosed in Note 3, "Divestitures." (9) Represents miscellaneous items, including non-cash stock-based compensation charges, and amounts attributable to noncontrolling interests. For the three months ended March 31, 2021, also includes $100 million associated with the suspension of depreciation for the Donlen business while classified as held for sale, partially offset by charges for a multiemployer pension plan withdrawal liability. For the three months ended March 31, 2020, also includes a $20 million gain on the sale of non-vehicle capital assets and $13 million in unrealized gains on derivative financial instruments.

Liabilities Subject to Compro_2

Liabilities Subject to Compromise (Tables)	3 Months Ended
	Mar. 31, 2021
Reorganizations [Abstract]
Schedule of Liabilities Subject to Compromise	The following table summarizes liabilities subject to compromise: (In millions) March 31, 2021 December 31, 2020 Accounts payable $ 239 $ 267 Accrued liabilities (1) 139 166 Accrued taxes, net 16 19 Accrued interest on debt subject to compromise 73 70 Debt subject to compromise (2) 4,511 4,443 Liabilities subject to compromise - Hertz Global $ 4,978 $ 4,965 Due from Affiliate - Hertz (3) 65 65 Liabilities subject to compromise - Hertz $ 5,043 $ 5,030 (1) Includes $24 million of U.S. pension benefit obligation reported as liabilities subject to compromise as of March 31, 2021 and December 31, 2020. (2) See Note 6, "Debt," for details of Pre-petition, non-vehicle debt reported as liabilities subject to compromise as of March 31, 2021 and December 31, 2020. (3) 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 March 31, 2021 and December 31, 2020.

Condensed Combined Debtor in _2

Condensed Combined Debtor in Possession Financial Information (Tables)	3 Months Ended
	Mar. 31, 2021
Guarantor and Non-Guarantor Condensed Consolidating Financial Statements Disclosure [Abstract]
Condensed Balance Sheet	THE DEBTORS CONDENSED COMBINED BALANCE SHEET (in millions) March 31, 2021 December 31, 2020 ASSETS Cash and cash equivalents $ 534 $ 492 Restricted cash and cash equivalents 1,179 305 Total cash, cash equivalents, restricted cash and restricted cash equivalents 1,713 797 Receivables, net 404 388 Due from non-debtor affiliates 51,607 51,638 Prepaid expenses and other assets 265 183 Revenue earning vehicles, net 5 37 Property and equipment, net 530 549 Operating lease right-of-use assets 1,353 1,424 Investment in subsidiaries, net 4,893 4,527 Intangible assets, net 2,966 2,988 Goodwill 488 488 Assets held for sale (1) — 173 Total assets $ 64,224 $ 63,192 LIABILITIES AND EQUITY Accounts payable $ 219 $ 200 Accrued liabilities 477 412 Accrued taxes, net 84 48 Debt 740 242 Operating lease liabilities 1,314 1,385 Self-insured liabilities 243 251 Deferred income taxes, net 1,208 887 Total liabilities not subject to compromise 4,285 3,425 Liabilities subject to compromise 59,674 59,637 Liabilities held for sale (1) — 74 Total liabilities 63,959 63,136 Total equity attributable to the Debtors 265 56 Total liabilities and equity $ 64,224 $ 63,192 (1) At December 31, 2020, the assets and certain liabilities of the Company's Donlen business were classified as assets held for sale and liabilities held for sale, respectively. On March 30, 2021, the Company's Donlen business was sold as disclosed in Note 3, "Divestitures."
Condensed Income Statement	THE DEBTORS CONDENSED COMBINED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (in millions) Three Months Ended Total revenues $ 942 Expenses: Direct vehicle and operating 687 Depreciation of revenue earning vehicles and lease charges 322 Selling, general and administrative 117 Interest (income) expense, net 34 Other (income) expense, net 18 Reorganization items, net 42 (Gain) from the sale of a business (392) Total expenses 828 Income (loss) before income taxes and equity in earnings (losses) of non-debtor entities 114 Income tax (provision) benefit (335) Equity in earnings (losses) of non-debtor entities 411 Net income (loss) 190 Total other comprehensive income (loss), net of tax 17 Comprehensive income (loss) attributable to the Debtors $ 207
Condensed Cash Flow Statement	THE DEBTORS CONDENSED COMBINED STATEMENT OF CASH FLOWS (in millions) Three Months Ended Net cash provided by (used in) operating activities $ (53) Cash flows from investing activities: Revenue earning vehicles expenditures (10) Proceeds from disposal of revenue earning vehicles (25) Non-vehicle capital asset expenditures (8) Proceeds from non-vehicle capital assets disposed of 3 Proceeds from the sale of business, net of cash sold 818 Capital contributions to non-debtor entities (411) Return of capital from non-debtor entities 43 Net cash provided by (used in) investing activities 410 Cash flows from financing activities: Proceeds from issuance of non-vehicle debt 560 Repayments of non-vehicle debt (1) Net cash provided by (used in) financing activities 559 Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period 916 Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period 797 Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period $ 1,713

Background (Details)

Background (Details) $ in Millions, $ in Millions	Jan. 27, 2021CAD ($)	Jan. 20, 2021USD ($)vehiclepayment	Mar. 31, 2021USD ($)leasevehicleclaim	Mar. 31, 2020USD ($)	Apr. 15, 2021USD ($)	Mar. 31, 2021EUR (€)	Jan. 13, 2021CAD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Number of proofs of claims filed, amount			$ 104,900
Net proceeds from repayment or recovery, percent			15.00%
Number of proofs of claims filed | claim			15,000
Financing arrangement, liquidity comprised of debt and cash			$ 1,700
Remaining capacity			$ 4,798
Number of vehicles required to be disposed of under bankruptcy court order | vehicle		157,262
Minimum cumulative vehicle disposition proceeds amount		$ 2,000
Payments under bankruptcy court order for operating lease		$ 756
Number of payments under bankruptcy court order for operating lease | payment		9
Monthly payments under bankruptcy court order for operating lease		$ 84
Off airport leases rejected | lease			278
Airport leases rejected | lease			26
DIP Credit Agreement
Debt Instrument [Line Items]
Minimum liquidity requirement			$ 275
Non-vehicle
Debt Instrument [Line Items]
Outstanding principal			740					$ 243
Proceeds from issuance of debt			$ 560	$ 1,440
Number of vehicles required to be disposed of under bankruptcy court order | vehicle		113,381
Number of vehicles disposed under bankruptcy court order, actual | vehicle			9,000
Vehicles
Debt Instrument [Line Items]
Proceeds from issuance of debt			$ 1,096	$ 3,661
Debt instrument, face amount			$ 7,000
Number of vehicles required to be disposed of under bankruptcy court order | vehicle		121,510
Number of vehicles disposed under bankruptcy court order, actual | vehicle			14,000
Proposed Plan
Debt Instrument [Line Items]
Global liquidity			$ 2,200
Proceeds from issuance of debt			3,900
Additional equity purchase amount			$ 1,600
Debtor reorganization equity percentage			48.20%			48.20%
Number of proofs of claims filed, amount			$ 550
Net proceeds from repayment or recovery, percent			100.00%
Warrant term			6 years			6 years
Debtor reorganization common stock percentage			4.00%			4.00%
Reorganization value			$ 6,100
Proposed Plan | Non-vehicle
Debt Instrument [Line Items]
Outstanding principal			1,300
Senior Term Loan Facility | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, face amount					$ 1,300
Senior Term Loan Facility | Subsequent Event | Exit Credit Facilities
Debt Instrument [Line Items]
Debt instrument, face amount					1,300
European Fleet Notes
Debt Instrument [Line Items]
Outstanding principal			853					888
Debt instrument, face amount | €						€ 725,000,000
European Fleet Notes | Vehicles
Debt Instrument [Line Items]
Outstanding principal			853					888
Debtor In Possession Credit Agreement | Non-vehicle
Debt Instrument [Line Items]
DIP credit agreement, amount			800
Debtor In Possession Credit Agreement | Vehicles
Debt Instrument [Line Items]
DIP credit agreement, amount							$ 400
Senior Secured Superpriority Debtor-in-Possession Credit Agreement
Debt Instrument [Line Items]
Remaining capacity			900
Unrestricted cash and unrestricted cash equivalents			812
Senior Secured Superpriority Debtor-in-Possession Credit Agreement | Non-vehicle
Debt Instrument [Line Items]
Outstanding principal			$ 750					$ 250
Funding LP Series 2021 A | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 350
Proceeds from lines of credit	$ 120
Line of Credit | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, face amount					1,500
Line of Credit | Revolving Credit Facility | Subsequent Event | Exit Credit Facilities
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 1,500
Supporting Noteholders | Proposed Plan
Debt Instrument [Line Items]
Forbearance agreement, aggregate principal amount of notes, percent			85.00%			85.00%
Plan Sponsors | Proposed Plan
Debt Instrument [Line Items]
Purchase of common stock			$ 565
Centerbridge Partners, L.P. and Warburg Pincus LLC | Proposed Plan
Debt Instrument [Line Items]
Purchase of preferred stock			$ 385

Divestitures (Details)

Divestitures (Details) - USD ($)	Mar. 30, 2021	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Jun. 30, 2019
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from sale of a business		$ (392,000,000)	$ 0
Proceeds from divestiture of business		818,000,000	0
Due from related parties					$ 425,000,000
The Hertz Corporation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain from sale of a business	$ (392,000,000)	(392,000,000)	0
Proceeds from divestiture of business		818,000,000	0
Due from related parties		$ 65,000,000		$ 65,000,000
Donlen Corporation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from divestiture of business	891,000,000
Net book value assets sold	543,000,000
Donlen Corporation | Prepaid Expenses and Other Current Assets
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Due from related parties	$ 45,000,000
Other Operating Income (Expense)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Marketable securities gain			74,000,000
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			$ 20,000,000

Revenue Earning Vehicles (Compo

Revenue Earning Vehicles (Components of Revenue Earning Vehicles) (Details) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Revenue earning vehicles	$ 7,800	$ 7,492
Less accumulated depreciation	(1,520)	(1,467)
Property subject to available for operating lease excluding assets held for sale	6,280	6,025
Revenue earning vehicles, net	80	37
Total revenue earning vehicles, net	$ 6,360	$ 6,062

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, Net (Details) $ in Millions	Mar. 31, 2021USD ($)
Finite-Lived Intangible Assets [Line Items]
Long-term growth rate	1.00%
Minimum
Finite-Lived Intangible Assets [Line Items]
Goodwill, discount rate	13.00%
Maximum
Finite-Lived Intangible Assets [Line Items]
Goodwill, discount rate	15.00%
Trade Names
Finite-Lived Intangible Assets [Line Items]
Percentage of fair value in excess of carrying amount	6.00%
Indefinite-lived intangible assets, fair value	$ 540

Debt (Schedule of Debt) (Detail

Debt (Schedule of Debt) (Details) $ in Millions, $ in Millions	Mar. 31, 2021USD ($)€ / $	Jan. 27, 2021CAD ($)	Dec. 31, 2020USD ($)€ / $
Debt Instrument [Line Items]
Debt:	$ 7,026		$ 6,267
Debt subject to compromise	4,511		4,443
Non-vehicle
Debt Instrument [Line Items]
Outstanding principal	740		243
Debt:	740		243
Unamortized Debt Issuance Costs and Net (Discount) Premium	(36)		(36)
Debt subject to compromise	4,511		4,443
Vehicles
Debt Instrument [Line Items]
Debt:	6,286		6,024
Corporate Debt Securities | Non-vehicle
Debt Instrument [Line Items]
Unamortized debt issuance costs and net (discount) premium	$ (26)		(25)
Senior Secured Superpriority Debtor-in-Possession Credit Agreement | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.25%
Outstanding principal	$ 750		250
Non-Vehicle Debt | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.25%
Outstanding principal	$ 16		18
Senior Term Loan | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.50%
Liabilities subject to compromise	$ 656		656
Senior RCF | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.38%
Liabilities subject to compromise	$ 615		615
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%
Liabilities subject to compromise	$ 2,700		2,700
Senior Second Priority Secured Notes | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	7.63%
Liabilities subject to compromise	$ 350		350
Promissory Notes | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	7.00%
Liabilities subject to compromise	$ 27		27
Alternative Letter of Credit Facility | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.25%
Liabilities subject to compromise	$ 142		114
Senior RCF Letter of Credit Facility | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.50%
Liabilities subject to compromise	$ 34		17
Letter of Credit Facility | Non-vehicle
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.50%
Liabilities subject to compromise	$ 23		0
Fleet Debt
Debt Instrument [Line Items]
Unamortized debt issuance costs and net (discount) premium	(54)		(63)
Debt:	6,286		6,024
Total | Vehicles
Debt Instrument [Line Items]
Outstanding principal	$ 1,665		1,940
HVF II Series 2013-A | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.41%
Outstanding principal	$ 1,665		1,940
HVF II U.S. Fleet Variable Medium Term Notes | Vehicles
Debt Instrument [Line Items]
Outstanding principal	$ 2,360		2,669
U.S. Fleet Medium Term Notes 2015 Series 3 | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.78%
Outstanding principal	$ 144		163
U.S. Fleet Medium Term Notes 2016 Series 2 | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.12%
Outstanding principal	$ 232		263
U.S. Fleet Medium Term Notes 2016 Series 4 | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.78%
Outstanding principal	$ 165		187
U.S. Fleet Medium Term Notes 2017 Series 1 | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.03%
Outstanding principal	$ 176		199
U.S. Fleet Medium Term Notes 2017 Series 2 | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.45%
Outstanding principal	$ 145		164
U.S. Fleet Medium Term Notes 2018 Series 1 | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.93%
Outstanding principal	$ 414		468
U.S. Fleet Medium Term Notes 2018 Series 2 | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.40%
Outstanding principal	$ 84		94
U.S. Fleet Medium Term Notes 2018 Series 3 | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.69%
Outstanding principal	$ 84		95
U.S. Fleet Medium Term Notes 2019 Series 1 | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.45%
Outstanding principal	$ 292		330
U.S. Fleet Medium Term Notes 2019 Series 2 | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.05%
Outstanding principal	$ 313		354
U.S Fleet Medium Term Notes 2019 Series 3 | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.30%
Outstanding principal	$ 311		352
HVIF U.S. Fleet Medium Term Notes | Vehicles
Debt Instrument [Line Items]
Outstanding principal	$ 881		0
HVIF Series 2020-1 | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.53%
Outstanding principal	$ 881		0
Other Fleet Debt | Vehicles
Debt Instrument [Line Items]
Outstanding principal	1,434		1,478
European Fleet Notes
Debt Instrument [Line Items]
Outstanding principal	$ 853		$ 888
Foreign currency exchange rate (EURO to USD) | € / $	1.18		1.22
European Fleet Notes | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.07%
Outstanding principal	$ 853		$ 888
4.125% Senior Notes due October 2021
Debt Instrument [Line Items]
Outstanding principal	$ 265		276
Interest rate	4.125%
European Fleet Notes, 5.500%, Due March 2023
Debt Instrument [Line Items]
Outstanding principal	$ 588		612
Interest rate	5.50%
European Securitization | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.60%
Outstanding principal	$ 212		263
Canadian Securitization
Debt Instrument [Line Items]
Outstanding principal		$ 350
Canadian Securitization | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.44%
Outstanding principal	$ 95		53
Australian Securitization | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.66%
Outstanding principal	$ 99		97
New Zealand Revolving Credit Facility | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.95%
Outstanding principal	$ 31		35
UK Leveraged Financing | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.03%
Outstanding principal	$ 91		105
Other Vehicle Debt | Vehicles
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.35%
Outstanding principal	$ 53		37
Senior Notes 6.250% Due 2022
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%
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
Interest rate	6.00%

Debt (Narrative) (Details)

Debt (Narrative) (Details) £ in Millions, $ in Millions, $ in Millions		Jan. 20, 2021USD ($)payment	Mar. 31, 2021USD ($)	Apr. 30, 2021GBP (£)	Apr. 15, 2021USD ($)	Mar. 31, 2021EUR (€)	Jan. 27, 2021CAD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
DIP, borrowings outstanding			$ 5,000
Payments under bankruptcy court order for operating lease		$ 756
Number of payments under bankruptcy court order for operating lease | payment		9
Monthly payments under bankruptcy court order for operating lease		$ 84
Assets	[1]		16,610					$ 16,908
Liabilities	[1]		16,320					16,815
European Fleet Notes
Debt Instrument [Line Items]
Debt instrument, face amount | €						€ 725,000,000
Outstanding principal			853					888
Senior Term Loan Facility | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, face amount					$ 1,300
Senior Term Loan Facility | Subsequent Event | Exit Credit Facilities
Debt Instrument [Line Items]
Debt instrument, face amount					1,300
HIL Notes
Debt Instrument [Line Items]
Debt instrument, face amount | €						250,000,000
European ABS Waiver
Debt Instrument [Line Items]
Outstanding principal | €						€ 450,000,000
Canadian Securitization
Debt Instrument [Line Items]
Outstanding principal							$ 350
Senior RCF
Debt Instrument [Line Items]
Outstanding standby letters of credit			$ 34
Senior Revolving Credit Facility and Letter of Credit Facility
Debt Instrument [Line Items]
Maximum consolidated leverage ratio			3			3
Letter of Credit
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 688
Vehicles
Debt Instrument [Line Items]
Debt instrument, face amount			7,000
Vehicles | European Fleet Notes
Debt Instrument [Line Items]
Outstanding principal			853					888
Vehicles | Variable Funding Note
Debt Instrument [Line Items]
Debt instrument, face amount			3,000
Vehicles | Bridge Financing Facility
Debt Instrument [Line Items]
Debt instrument, face amount			4,000
Vehicles | Canadian Securitization
Debt Instrument [Line Items]
Outstanding principal			95					53
Revolving Credit Facility | Line of Credit and Term Loan | Subsequent Event | Exit Credit Facilities
Debt Instrument [Line Items]
Debt instrument, face amount					2,800
Revolving Credit Facility | Line of Credit | Subsequent Event
Debt Instrument [Line Items]
Debt instrument, face amount					1,500
Revolving Credit Facility | Line of Credit | Subsequent Event | Exit Credit Facilities
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 1,500
Revolving Credit Facility | UK Financing Facility | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity | £				£ 100
Revolving Credit Facility | Senior RCF
Debt Instrument [Line Items]
Maximum borrowing capacity			194
Alternative Letter of Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			200
Outstanding standby letters of credit			142
Letter of Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			278
Outstanding standby letters of credit			23
DIP Credit Agreement
Debt Instrument [Line Items]
Minimum liquidity requirement			$ 275
International Fleet Financing No. 2 B.V.
Debt Instrument [Line Items]
Ownership percentage			25.00%
Assets			$ 393					464
Liabilities			$ 393					$ 464
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of March 31, 2021 and December 31, 2020 include total assets of variable interest entities (“VIEs”) of $513 million and $511 million, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of March 31, 2021 and December 31, 2020 include total liabilities of VIEs of $393 million and $475 million, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information.

Debt (Borrowing Capacity) (Deta

Debt (Borrowing Capacity) (Details) $ in Millions	Mar. 31, 2021USD ($)
Debt Instrument [Line Items]
Remaining capacity	$ 4,798
Availability under borrowing base limitation	943
Corporate Debt Securities
Debt Instrument [Line Items]
Remaining capacity	900
Availability under borrowing base limitation	900
Senior Assets Based Line of Credit Facility
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
Senior Secured Superpriority Debtor-in-Possession Credit Agreement
Debt Instrument [Line Items]
Remaining capacity	900
Availability under borrowing base limitation	900
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	3,898
Availability under borrowing base limitation	43
HVF II U.S. ABS Program
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
HVIF Series 2020-1
Debt Instrument [Line Items]
Remaining capacity	3,119
Availability under borrowing base limitation	35
European Securitization
Debt Instrument [Line Items]
Remaining capacity	494
Availability under borrowing base limitation	4
Canadian Securitization
Debt Instrument [Line Items]
Remaining capacity	183
Availability under borrowing base limitation	0
Australian Securitization
Debt Instrument [Line Items]
Remaining capacity	62
Availability under borrowing base limitation	4
Us Fleet Financing Facility
Debt Instrument [Line Items]
Remaining capacity	19
Availability under borrowing base limitation	0
New Zealand Revolving Credit Facility
Debt Instrument [Line Items]
Remaining capacity	21
Availability under borrowing base limitation	$ 0

Leases (Details)

Leases (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)lease	Mar. 31, 2020USD ($)
Lessee, Lease, Description [Line Items]
Off airport leases rejected | lease	278
Airport leases rejected | lease	26
Operating Lease, Lease Income [Abstract]
Revenue accounted for under Topic 842	$ 1,249	$ 1,839
Revenue accounted for under Topic 606	40	84
Total revenues	1,289	1,923
Restructuring Plan, Impact of COVID-19 | Rent Abatement and Payment Deferrals
Lessee, Lease, Description [Line Items]
Decrease in rent expense from concessions, abatement and payment deferrals	100
Vehicle Rentals, Operating Lease
Operating Lease, Lease Income [Abstract]
Revenue accounted for under Topic 842	1,099	1,637
Fleet Leasing, Operating Lease
Operating Lease, Lease Income [Abstract]
Revenue accounted for under Topic 842	149	169
Variable, Operating Lease
Operating Lease, Lease Income [Abstract]
Revenue accounted for under Topic 842	$ 1	$ 33

Restructuring (Details)

Restructuring (Details) $ in Millions	3 Months Ended
	Mar. 31, 2021USD ($)employee
Employee Severance
Restructuring Cost and Reserve [Line Items]
Severance Costs | $	$ 7
Restructuring Plan, Impact of COVID-19 | Other Restructuring | International RAC
Restructuring Cost and Reserve [Line Items]
Number of positions eliminated | employee	150

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Income Tax Contingency [Line Items]
Effective tax rate (as percent)	29.00%	1.00%
Income tax (provision) benefit	$ (79)	$ 4
The Hertz Corporation
Income Tax Contingency [Line Items]
Effective tax rate (as percent)	29.00%	1.00%
Income tax (provision) benefit	$ (79)	$ 3

Earnings (Loss) Per Share _ H_3

Earnings (Loss) Per Share – Hertz Global (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Numerator:
Net income (loss) attributable to Hertz Global	$ 190	$ (356)
Denominator:
Basic (in shares)	156	142
Dilutive stock options, RSUs and PSUs	1	0
Diluted weighted-average shares outstanding	157	142
Earnings (loss) per share:
Basic earnings (loss) per share (in dollars per share)	$ 1.22	$ (2.50)
Diluted earnings (loss) per share (in dollars per share)	$ 1.21	$ (2.50)
Antidilutive stock options, RSUs and PSUs
Denominator:
Antidilutive stock options, RSUs, PSUs and PSAs	1	2

Fair Value Measurements (Cash a

Fair Value Measurements (Cash and Cash Equivalents and Investments) (Details) - Fair Value, Measurements, Recurring - Cash equivalents - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 1,567	$ 723
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	1,567	723
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
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) - Fair Value, Measurements, Recurring - Level 2 - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020
Fair Value of Financial Instruments [Abstract]
Nominal Unpaid Principal Balance	$ 11,653	$ 10,834
Aggregate Fair Value	11,570	9,403
Non-Vehicle Debt
Fair Value of Financial Instruments [Abstract]
Nominal Unpaid Principal Balance	5,313	4,747
Aggregate Fair Value	5,316	3,382
Vehicle Debt
Fair Value of Financial Instruments [Abstract]
Nominal Unpaid Principal Balance	6,340	6,087
Aggregate Fair Value	$ 6,254	$ 6,021

Contingencies and Off-Balance_2

Contingencies and Off-Balance Sheet Commitments (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2021	Feb. 28, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
Self-insured liabilities	$ 470,000		$ 488,000
Bankruptcy claims, amount paid to settle claims		$ 250
Net proceeds from repayment or recovery, percent	15.00%

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	May 23, 2020	Jun. 30, 2019
Related Party Transaction [Line Items]
Due from related parties					$ 425,000,000
Master Loan Agreement
Related Party Transaction [Line Items]
Due from related parties			$ 133,000,000
Tax Related Liability
Related Party Transaction [Line Items]
Due from related parties	$ 65,000,000	$ 65,000,000
Master Loan Agreement, Due May 2021
Related Party Transaction [Line Items]
Due from related parties	$ 1,000,000	1,000,000		$ 25,000,000
767 Auto Leasing, LLC
Related Party Transaction [Line Items]
Term of lease contract	22 months
Lease, renewal term	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
The Hertz Corporation | 767 Auto Leasing, LLC
Related Party Transaction [Line Items]
Contributions from (distributions to) noncontrolling interests	$ (10,000,000)

Segment Information (Details)

Segment Information (Details) $ in Millions		Jun. 18, 2020USD ($)	Mar. 31, 2021USD ($)segment	Mar. 31, 2020USD ($)	Dec. 31, 2020USD ($)
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Number of reportable segments | segment			3
Revenues			$ 1,289	$ 1,923
Depreciation of revenue earning vehicles and lease charges			243	677
Adjusted EBITDA:			2	(243)
Total assets	[1]		16,610		$ 16,908
Assets held for sale			0		1,811
Income (loss) before income taxes			268	(361)
Liabilities subject to compromise			4,978		4,965
Restructuring and restructuring related charges | Pension Plan
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Liabilities subject to compromise			24		24
ATM Program
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Stock issuance, net		$ 28
Restructuring and restructuring related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			(12)	(7)
Information technology and finance transformation costs
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			(6)	(17)
Reorganization items, net
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			(42)	0
Pre-reorganization charges and non-debtor financing charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			(23)	0
Gain from divestiture
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			392	0
Other
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			83	25
Operating Segments
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:			31	(220)
Operating Segments | U.S. Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues			946	1,381
Depreciation of revenue earning vehicles and lease charges			205	463
Adjusted EBITDA:			24	(199)
Total assets			11,509		11,042
Operating Segments | International Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues			207	368
Depreciation of revenue earning vehicles and lease charges			38	89
Adjusted EBITDA:			(6)	(45)
Total assets			2,940		2,956
Operating Segments | All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues			136	174
Depreciation of revenue earning vehicles and lease charges			0	125
Adjusted EBITDA:			13	24
Total assets			1		1,818
Corporate, Non-Segment
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:			(29)	(23)
Total assets			2,160		1,092
The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues			1,289	1,923
Depreciation of revenue earning vehicles and lease charges			243	677
Adjusted EBITDA:			2	(243)
Total assets	[2]		16,582		16,880
Assets held for sale			0		1,811
Income (loss) before income taxes			268	(359)
Liabilities subject to compromise			5,043		5,030
Gain on sale of non-vehicle capital assets			1	21
Unrealized gain (loss) on derivatives				13
The Hertz Corporation | Donlen Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Assets held for sale					1,800
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Total assets			513		511
The Hertz Corporation | Debt-related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			(28)	(9)
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			(12)	(7)
The Hertz Corporation | Information technology and finance transformation costs
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			(6)	(17)
The Hertz Corporation | Reorganization items, net
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			(42)	0
The Hertz Corporation | Pre-reorganization charges and non-debtor financing charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			(23)	0
The Hertz Corporation | Gain from divestiture
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			392	0
The Hertz Corporation | Other
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			83	25
The Hertz Corporation | Other | Donlen Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			100
The Hertz Corporation | Operating Segments
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:			31	(220)
The Hertz Corporation | Operating Segments | U.S. Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:			24	(199)
The Hertz Corporation | Operating Segments | International Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:			(6)	(45)
The Hertz Corporation | Operating Segments | All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:			13	24
The Hertz Corporation | Corporate, Non-Segment
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA:			(29)	(23)
Total assets			$ (28)		$ (28)
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			$ (54)	(53)
Non-vehicle | Debt-related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			(44)	(57)
Non-vehicle | The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Gain on sale of non-vehicle capital assets				20
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			(54)	(53)
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			(44)	(55)
Vehicles | Debt-related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Income (loss) before income taxes			$ (28)	$ (9)
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of March 31, 2021 and December 31, 2020 include total assets of variable interest entities (“VIEs”) of $513 million and $511 million, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of March 31, 2021 and December 31, 2020 include total liabilities of VIEs of $393 million and $475 million, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information.
[2]	The Hertz Corporation's consolidated total assets as of March 31, 2021 and December 31, 2020 include total assets of VIEs of $513 million and $511 million, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of March 31, 2021 and December 31, 2020 include total liabilities of VIEs of $393 million and $475 million, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 13, "Related Party Transactions," for further information.

Liabilities Subject to Compro_3

Liabilities Subject to Compromise (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2019
Fresh-Start Adjustment [Line Items]
Accounts payable	$ 239,000,000	$ 267,000,000
Accrued liabilities	139,000,000	166,000,000
Accrued taxes, net	16,000,000	19,000,000
Accrued interest on debt subject to compromise	73,000,000	70,000,000
Debt subject to compromise	4,511,000,000	4,443,000,000
Liabilities subject to compromise, Total	4,978,000,000	4,965,000,000
Due from related parties			$ 425,000,000
Restructuring and restructuring related charges | Pension Plan
Fresh-Start Adjustment [Line Items]
Liabilities subject to compromise, Total	24,000,000	24,000,000
The Hertz Corporation
Fresh-Start Adjustment [Line Items]
Liabilities subject to compromise, Total	5,043,000,000	5,030,000,000
Due from related parties	$ 65,000,000	$ 65,000,000

Reorganization Items, Net (Deta

Reorganization Items, Net (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Fresh-Start Adjustment [Line Items]
Reorganization items, net	$ 42	$ 0	$ 175
Accrued professional fees	57
Payment of professional fees	15
Accrued Liabilities
Fresh-Start Adjustment [Line Items]
Reorganization items, net	57		46
Payment of professional fees	58		102
Accounts Payable
Fresh-Start Adjustment [Line Items]
Reorganization items, net	$ 7		$ 19

Condensed Combined Debtor in _3

Condensed Combined Debtor in Possession Financial Information (Balance Sheet) (Details) - USD ($)		Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2020	Jun. 30, 2019
ASSETS
Cash and cash equivalents		$ 1,087,000,000	$ 1,096,000,000
Restricted cash and cash equivalents:		1,353,000,000	411,000,000
Total cash, cash equivalents, restricted cash and restricted cash equivalents		2,440,000,000	1,507,000,000	$ 1,409,000,000
Receivables, net		793,000,000	777,000,000
Due from affiliates					$ 425,000,000
Prepaid expenses and other assets		786,000,000	373,000,000
Revenue earning vehicles, net		7,919,000,000	7,540,000,000
Property and equipment, net		637,000,000	666,000,000
Operating lease right-of-use assets		1,580,000,000	1,675,000,000
Intangible assets, net		2,969,000,000	2,992,000,000
Goodwill		1,045,000,000	1,045,000,000
Assets held for sale		0	1,811,000,000
Total assets	[1]	16,610,000,000	16,908,000,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Total accounts payable		531,000,000	418,000,000
Accrued liabilities		824,000,000	759,000,000
Accrued taxes, net		161,000,000	121,000,000
Debt		7,026,000,000	6,267,000,000
Operating lease liabilities		1,541,000,000	1,636,000,000
Self-insured liabilities		470,000,000	488,000,000
Deferred income taxes, net		789,000,000	730,000,000
Total liabilities not subject to compromise		11,342,000,000	10,419,000,000
Liabilities subject to compromise		4,978,000,000	4,965,000,000
Liabilities held for sale		0	1,431,000,000
Total liabilities	[1]	16,320,000,000	16,815,000,000
Total liabilities and stockholders' equity		16,610,000,000	16,908,000,000
Hertz Global Holdings and Subsidiaries in Bankruptcy Proceedings
ASSETS
Cash and cash equivalents		534,000,000	492,000,000
Restricted cash and cash equivalents:		1,179,000,000	305,000,000
Total cash, cash equivalents, restricted cash and restricted cash equivalents		1,713,000,000	797,000,000
Receivables, net		404,000,000	388,000,000
Due from affiliates		51,607,000,000	51,638,000,000
Prepaid expenses and other assets		265,000,000	183,000,000
Revenue earning vehicles, net		5,000,000	37,000,000
Property and equipment, net		530,000,000	549,000,000
Operating lease right-of-use assets		1,353,000,000	1,424,000,000
Investment in subsidiaries, net		4,893,000,000	4,527,000,000
Intangible assets, net		2,966,000,000	2,988,000,000
Goodwill		488,000,000	488,000,000
Assets held for sale		0	173,000,000
Total assets		64,224,000,000	63,192,000,000
LIABILITIES AND STOCKHOLDERS' EQUITY
Total accounts payable		219,000,000	200,000,000
Accrued liabilities		477,000,000	412,000,000
Accrued taxes, net		84,000,000	48,000,000
Debt		740,000,000	242,000,000
Operating lease liabilities		1,314,000,000	1,385,000,000
Self-insured liabilities		243,000,000	251,000,000
Deferred income taxes, net		1,208,000,000	887,000,000
Total liabilities not subject to compromise		4,285,000,000	3,425,000,000
Liabilities subject to compromise		59,674,000,000	59,637,000,000
Liabilities held for sale		0	74,000,000
Total liabilities		63,959,000,000	63,136,000,000
Total equity attributable to the Debtors		265,000,000	56,000,000
Total liabilities and stockholders' equity		$ 64,224,000,000	$ 63,192,000,000
[1]	Hertz Global Holdings, Inc.'s consolidated total assets as of March 31, 2021 and December 31, 2020 include total assets of variable interest entities (“VIEs”) of $513 million and $511 million, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of March 31, 2021 and December 31, 2020 include total liabilities of VIEs of $393 million and $475 million, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 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		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 1,289	$ 1,923
Expenses:
Direct vehicle and operating	827	1,241
Depreciation of revenue earning vehicles and lease charges	243	677
Selling, general and administrative	156	208
Interest (income) expense, net	(148)	(175)
Reorganization items, net	42	0	$ 175
(Gain) from the sale of a business	392	0
Total expenses	1,021	2,284
Income (loss) before income taxes	268	(361)
Income tax (provision) benefit	(79)	4
Net income (loss)	189	(357)
Other comprehensive income (loss)	17	(39)
Comprehensive income (loss) attributable to Hertz Global	207	$ (395)
Hertz Global Holdings and Subsidiaries in Bankruptcy Proceedings
Condensed Financial Statements, Captions [Line Items]
Revenues	942
Expenses:
Direct vehicle and operating	687
Depreciation of revenue earning vehicles and lease charges	322
Selling, general and administrative	117
Interest (income) expense, net	34
Other (income) expense, net	18
Reorganization items, net	42
(Gain) from the sale of a business	(392)
Total expenses	828
Income (loss) before income taxes	114
Income tax (provision) benefit	(335)
Equity in earnings (losses) of non-debtor entities	411
Net income (loss)	190
Other comprehensive income (loss)	17
Comprehensive income (loss) attributable to Hertz Global	$ 207

Condensed Combined Debtor in _5

Condensed Combined Debtor in Possession Financial Information (Statement of Cash Flows) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 200	$ 449
Cash flows from investing activities:
Revenue earning vehicles expenditures	(1,517)	(4,346)
Proceeds from disposal of revenue earning vehicles	686	2,212
Non-vehicle capital asset expenditures	(9)	(59)
Proceeds from non-vehicle capital assets disposed of or to be disposed of	4	23
Net cash provided by (used in) investing activities	(18)	(2,097)
Cash flows from financing activities:
Net cash provided by (used in) financing activities	692	1,701
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	862	49
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	1,507
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	2,440	1,409
Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	560	1,440
Repayments of debt	(1)	$ (851)
Hertz Global Holdings and Subsidiaries in Bankruptcy Proceedings
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(53)
Cash flows from investing activities:
Revenue earning vehicles expenditures	(10)
Proceeds from disposal of revenue earning vehicles	(25)
Non-vehicle capital asset expenditures	(8)
Proceeds from non-vehicle capital assets disposed of or to be disposed of	3
Proceeds from the sale of business, net of cash sold	818
Capital contributions to non-debtor entities	(411)
Return of capital from non-debtor entities	43
Net cash provided by (used in) investing activities	410
Cash flows from financing activities:
Net cash provided by (used in) financing activities	559
Net increase (decrease) in cash, cash equivalents, restricted cash and restricted cash equivalents during the period	916
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	797
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	1,713
Hertz Global Holdings and Subsidiaries in Bankruptcy Proceedings | Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	560
Repayments of debt	$ (1)

Uncategorized Items - htz-20210

Label	Element	Value
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Amounts Held For Sale	htz_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingAmountsHeldForSale	$ 1,578,000,000	[1]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Amounts Held For Sale	htz_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingAmountsHeldForSale	1,360,000,000	[1]
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	11,000,000
The Hertz Corporation [Member]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Amounts Held For Sale	htz_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingAmountsHeldForSale	1,550,000,000	[2]
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Including Amounts Held For Sale	htz_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingAmountsHeldForSale	1,360,000,000	[2]
Noncontrolling Interest [Member]
Noncontrolling Interest, Decrease from Distributions to Noncontrolling Interest Holders	us-gaap_MinorityInterestDecreaseFromDistributionsToNoncontrollingInterestHolders	$ 11,000,000
[1]	Amounts include cash and cash equivalents and restricted cash and cash equivalents which are held for sale at December 31, 2020, as disclosed in Note 3, "Divestitures."
[2]	Amounts include cash and cash equivalents and restricted cash and cash equivalents which are held for sale at December 31, 2020, as disclosed in Note 3, "Divestitures."