Hertz (HRZ) 10-Q 26 Oct 23 2023 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2023	Oct. 19, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
Document Transition Report	false
Entity File Number	001-37665
Entity Registrant Name	HERTZ GLOBAL HOLDINGS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1770902
Entity Address, Address Description	8501 Williams Road,
Entity Address, City or Town	Estero,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33928
City Area Code	(239)
Local Phone Number	301-7000
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Bankruptcy Proceedings, Reporting Current	true
Entity Common Stock, Shares Outstanding		307,812,765
Entity Central Index Key	0001657853
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	HTZ
Security Exchange Name	NASDAQ
Warrants
Entity Information [Line Items]
Title of 12(b) Security	Warrants to purchase common stock
Trading Symbol	HTZWW
Security Exchange Name	NASDAQ
The Hertz Corporation
Entity Information [Line Items]
Entity File Number	001-07541
Entity Registrant Name	THE HERTZ CORPORATION
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-1938568
Entity Address, Address Description	8501 Williams Road,
Entity Address, City or Town	Estero,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33928
City Area Code	(239)
Local Phone Number	301-7000
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100
Entity Central Index Key	0000047129
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

HGH - CONDENSED CONSOLIDATED BA

HGH - CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents		$ 594	$ 943
Total restricted cash and cash equivalents		462	475
Total cash and cash equivalents and restricted cash and cash equivalents		1,056	1,418
Receivables		1,407	974
Prepaid expenses and other assets		835	1,155
Revenue earning vehicles:
Vehicles		17,576	14,281
Less: accumulated depreciation		(2,117)	(1,786)
Revenue earning vehicles, net		15,459	12,495
Property and equipment, net		672	637
Operating lease right-of-use assets		2,200	1,887
Intangible assets, net		2,881	2,887
Goodwill		1,044	1,044
Total assets	[1]	25,554	22,497
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		790	657
Accrued liabilities		896	911
Accrued taxes, net		215	170
Debt		16,013	13,863
Public Warrants		506	617
Operating lease liabilities		2,094	1,802
Self-insured liabilities		472	472
Deferred income taxes, net		1,178	1,360
Total liabilities	[1]	22,164	19,852
Commitments and contingencies
Stockholders' equity:
Preferred stock, $0.01 par value, no shares issued and outstanding		0	0
Common stock, $0.01 par value, 479,253,617 and 478,914,062 shares issued, respectively, and 308,798,093 and 323,483,178 shares outstanding, respectively		5	5
Treasury stock, at cost, 170,455,524 and 155,430,884 common shares, respectively		(3,389)	(3,136)
Additional paid-in capital		6,389	6,326
Retained earnings (Accumulated deficit)		708	(256)
Accumulated other comprehensive income (loss)		(323)	(294)
Total stockholder's equity		3,390	2,645
Total liabilities and stockholders' equity		25,554	22,497
Vehicles
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		216	79
Debt		12,894	10,886
Non Vehicle Debt
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		574	578
Debt		3,119	2,977
Vehicles
ASSETS
Total restricted cash and cash equivalents		168	180
Receivables		267	111
Non-vehicle
ASSETS
Total restricted cash and cash equivalents		294	295
Receivables		$ 1,140	$ 863
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of September 30, 2023 and December 31, 2022 include total assets of variable interest entities (“VIEs”) of $1.9 billion and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of September 30, 2023 and December 31, 2022 include total liabilities of VIEs of $1.9 billion and $1.3 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Pledges Related to Vehicle Financing" in Note 5, "Debt," for further information.

HGH - CONDENSED CONSOLIDATED _2

HGH - CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022
Preferred stock, par value (in dollars per share)		$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)		0	0
Preferred stock, shares outstanding (in shares)		0	0
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares issued (in shares)		479,253,617	478,914,062
Common stock, shares outstanding (in shares)		308,798,093	323,483,178
Treasury stock, common (in shares)		170,455,524	155,430,884
Total assets	[1]	$ 25,554	$ 22,497
Total liabilities	[1]	22,164	19,852
Variable Interest Entity, Primary Beneficiary
Total assets		1,900	1,300
Total liabilities		1,900	1,300
Non-vehicle
Accounts receivable, allowance for credit loss		$ 47	$ 45
The Hertz Corporation
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares issued (in shares)		100	100
Common stock, shares outstanding (in shares)		100	100
Total assets	[2]	$ 25,553	$ 22,496
Total liabilities	[2]	21,657	19,217
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Total assets		1,900	1,300
Total liabilities		1,900	1,300
The Hertz Corporation | Non-vehicle
Accounts receivable, allowance for credit loss		$ 47	$ 45
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of September 30, 2023 and December 31, 2022 include total assets of variable interest entities (“VIEs”) of $1.9 billion and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of September 30, 2023 and December 31, 2022 include total liabilities of VIEs of $1.9 billion and $1.3 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Pledges Related to Vehicle Financing" in Note 5, "Debt," for further information.[2]The Hertz Corporation's consolidated total assets as of September 30, 2023 and December 31, 2022 include total assets of VIEs of $1.9 billion and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of September 30, 2023 and December 31, 2022 include total liabilities of VIEs of $1.9 billion and $1.3 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Pledges Related to Vehicle Financing" in Note 5, "Debt," for further information.

THC - CONDENSED CONSOLIDATED BA

THC - CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents		$ 594	$ 943
Total restricted cash and cash equivalents		462	475
Total cash and cash equivalents and restricted cash and cash equivalents		1,056	1,418
Receivables		1,407	974
Prepaid expenses and other assets		835	1,155
Revenue earning vehicles:
Vehicles		17,576	14,281
Less: accumulated depreciation		(2,117)	(1,786)
Revenue earning vehicles, net		15,459	12,495
Property and equipment, net		672	637
Operating lease right-of-use assets		2,200	1,887
Intangible assets, net		2,881	2,887
Goodwill		1,044	1,044
Total assets	[1]	25,554	22,497
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		790	657
Accrued liabilities		896	911
Accrued taxes, net		215	170
Debt		16,013	13,863
Operating lease liabilities		2,094	1,802
Self-insured liabilities		472	472
Deferred income taxes, net		1,178	1,360
Total liabilities	[1]	22,164	19,852
Commitments and contingencies
Stockholders' equity:
Common stock, $0.01 par value, 479,253,617 and 478,914,062 shares issued, respectively, and 308,798,093 and 323,483,178 shares outstanding, respectively		5	5
Additional paid-in capital		6,389	6,326
Retained earnings (Accumulated deficit)		708	(256)
Accumulated other comprehensive income (loss)		(323)	(294)
Total stockholder's equity		3,390	2,645
Total liabilities and stockholders' equity		25,554	22,497
Vehicles
ASSETS
Total restricted cash and cash equivalents		168	180
Receivables		267	111
Non-vehicle
ASSETS
Total restricted cash and cash equivalents		294	295
Receivables		1,140	863
The Hertz Corporation
ASSETS
Cash and cash equivalents		594	943
Total restricted cash and cash equivalents		462	475
Total cash and cash equivalents and restricted cash and cash equivalents		1,056	1,418
Receivables		1,407	974
Prepaid expenses and other assets		834	1,154
Revenue earning vehicles:
Vehicles		17,576	14,281
Less: accumulated depreciation		(2,117)	(1,786)
Revenue earning vehicles, net		15,459	12,495
Property and equipment, net		672	637
Operating lease right-of-use assets		2,200	1,887
Intangible assets, net		2,881	2,887
Goodwill		1,044	1,044
Total assets	[2]	25,553	22,496
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		790	657
Accrued liabilities		894	890
Accrued taxes, net		213	170
Debt		16,013	13,863
Operating lease liabilities		2,094	1,802
Self-insured liabilities		472	472
Deferred income taxes, net		1,181	1,363
Total liabilities	[2]	21,657	19,217
Commitments and contingencies
Stockholders' equity:
Common stock, $0.01 par value, 479,253,617 and 478,914,062 shares issued, respectively, and 308,798,093 and 323,483,178 shares outstanding, respectively		0	0
Additional paid-in capital		4,637	4,844
Retained earnings (Accumulated deficit)		(418)	(1,271)
Accumulated other comprehensive income (loss)		(323)	(294)
Total stockholder's equity		3,896	3,279
Total liabilities and stockholders' equity		25,553	22,496
The Hertz Corporation | Vehicles
ASSETS
Total restricted cash and cash equivalents		168	180
Receivables		267	111
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		216	79
Debt		12,894	10,886
The Hertz Corporation | Non-vehicle
ASSETS
Total restricted cash and cash equivalents		294	295
Receivables		1,140	863
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable		574	578
Debt		$ 3,119	$ 2,977
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of September 30, 2023 and December 31, 2022 include total assets of variable interest entities (“VIEs”) of $1.9 billion and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of September 30, 2023 and December 31, 2022 include total liabilities of VIEs of $1.9 billion and $1.3 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Pledges Related to Vehicle Financing" in Note 5, "Debt," for further information.[2]The Hertz Corporation's consolidated total assets as of September 30, 2023 and December 31, 2022 include total assets of VIEs of $1.9 billion and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of September 30, 2023 and December 31, 2022 include total liabilities of VIEs of $1.9 billion and $1.3 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Pledges Related to Vehicle Financing" in Note 5, "Debt," for further information.

THC - CONDENSED CONSOLIDATED _2

THC - CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares issued (in shares)		479,253,617	478,914,062
Common stock, shares outstanding (in shares)		308,798,093	323,483,178
Total assets	[1]	$ 25,554	$ 22,497
Total liabilities	[1]	22,164	19,852
Variable Interest Entity, Primary Beneficiary
Total assets		1,900	1,300
Total liabilities		1,900	1,300
Non-vehicle
Accounts receivable, allowance for credit loss		$ 47	$ 45
The Hertz Corporation
Common stock, par value (in dollars per share)		$ 0.01	$ 0.01
Common stock, shares authorized (in shares)		3,000	3,000
Common stock, shares issued (in shares)		100	100
Common stock, shares outstanding (in shares)		100	100
Total assets	[2]	$ 25,553	$ 22,496
Total liabilities	[2]	21,657	19,217
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Total assets		1,900	1,300
Total liabilities		1,900	1,300
The Hertz Corporation | Non-vehicle
Accounts receivable, allowance for credit loss		$ 47	$ 45
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of September 30, 2023 and December 31, 2022 include total assets of variable interest entities (“VIEs”) of $1.9 billion and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of September 30, 2023 and December 31, 2022 include total liabilities of VIEs of $1.9 billion and $1.3 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Pledges Related to Vehicle Financing" in Note 5, "Debt," for further information.[2]The Hertz Corporation's consolidated total assets as of September 30, 2023 and December 31, 2022 include total assets of VIEs of $1.9 billion and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of September 30, 2023 and December 31, 2022 include total liabilities of VIEs of $1.9 billion and $1.3 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Pledges Related to Vehicle Financing" in Note 5, "Debt," for further information.

HGH - CONDENSED CONSOLIDATED ST

HGH - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues:
Revenues	$ 2,703			$ 2,496			$ 7,187	$ 6,650
Expenses:
Direct vehicle and operating	1,499			1,282			4,067	3,534
Depreciation of revenue earning vehicles and lease charges, net	501			294			1,211	341
Non-vehicle depreciation and amortization	33			36			100	105
Selling, general and administrative	209			246			715	738
Interest expense, net	225			70			575	200
Other (income) expense, net	5			(6)			12	(6)
(Gain) on sale of non-vehicle capital assets	0			0			(162)	0
Change in fair value of Public Warrants	(328)			(73)			(110)	(584)
Total expenses	2,144			1,849			6,408	4,328
Income (loss) before income taxes	559			647			779	2,322
Income tax (provision) benefit	70			(70)			185	(379)
Net income (loss)	$ 629	$ 139	$ 196	$ 577	$ 940	$ 426	$ 964	$ 1,943
Weighted-average common shares outstanding:
Basic (in shares)	311			355			315	395
Diluted (in shares)	327			379			332	421
Earnings (loss) per common share:
Basic (in dollars per share)	$ 2.02			$ 1.62			$ 3.06	$ 4.92
Diluted (in dollars per share)	$ 0.92			$ 1.33			$ 2.57	$ 3.22
Vehicles
Expenses:
Interest expense, net	$ 162			$ 27			$ 405	$ 77
Non-vehicle
Expenses:
Interest expense, net	$ 63			$ 43			$ 170	$ 123

THC - CONDENSED CONSOLIDATED ST

THC - CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues:
Revenues	$ 2,703	$ 2,496	$ 7,187	$ 6,650
Expenses:
Direct vehicle and operating	1,499	1,282	4,067	3,534
Depreciation of revenue earning vehicles	501	294	1,211	341
Non-vehicle depreciation and amortization	33	36	100	105
Selling, general and administrative	209	246	715	738
Interest expense, net	225	70	575	200
Other (income) expense, net	5	(6)	12	(6)
(Gain) on sale of non-vehicle capital assets	0	0	(162)	0
Total expenses	2,144	1,849	6,408	4,328
Income (loss) before income taxes	559	647	779	2,322
Income tax (provision) benefit	70	(70)	185	(379)
Net income (loss)	629	577	964	1,943
Vehicles
Expenses:
Interest expense, net	162	27	405	77
Non-vehicle
Expenses:
Interest expense, net	63	43	170	123
The Hertz Corporation
Revenues:
Revenues	2,703	2,496	7,187	6,650
Expenses:
Direct vehicle and operating	1,499	1,282	4,067	3,534
Depreciation of revenue earning vehicles	501	294	1,211	341
Non-vehicle depreciation and amortization	33	36	100	105
Selling, general and administrative	209	246	715	738
Interest expense, net	225	70	575	200
Other (income) expense, net	5	(6)	12	(6)
(Gain) on sale of non-vehicle capital assets	0	0	(162)	0
Total expenses	2,472	1,922	6,518	4,912
Income (loss) before income taxes	231	574	669	1,738
Income tax (provision) benefit	68	(71)	184	(379)
Net income (loss)	299	503	853	1,359
The Hertz Corporation | Vehicles
Expenses:
Interest expense, net	162	27	405	77
The Hertz Corporation | Non-vehicle
Expenses:
Interest expense, net	$ 63	$ 43	$ 170	$ 123

HGH - CONDENSED CONSOLIDATED _3

HGH - CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 629	$ 139	$ 196	$ 577	$ 940	$ 426	$ 964	$ 1,943
Other comprehensive income (loss):
Foreign currency translation adjustments	(47)			(79)			(29)	(145)
Total other comprehensive income (loss)	(47)	$ 4	$ 14	(79)	$ (59)	$ (7)	(29)	(145)
Comprehensive income (loss) attributable to Hertz Global	$ 582			$ 498			$ 935	$ 1,798

THC - CONDENSED CONSOLIDATED _3

THC - CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Net income (loss)	$ 629	$ 577	$ 964	$ 1,943
Other comprehensive income (loss):
Foreign currency translation adjustments	(47)	(79)	(29)	(145)
Total other comprehensive income (loss)	(47)	(79)	(29)	(145)
Comprehensive income (loss) attributable to Hertz Global	582	498	935	1,798
The Hertz Corporation
Net income (loss)	299	503	853	1,359
Other comprehensive income (loss):
Foreign currency translation adjustments	(47)	(79)	(29)	(145)
Total other comprehensive income (loss)	(47)	(79)	(29)	(145)
Comprehensive income (loss) attributable to Hertz Global	$ 252	$ 424	$ 824	$ 1,214

HGH - CONDENSED CONSOLIDATED _4

HGH - CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Millions		Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Retained Earnings (Accumulated deficit)	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)			0
Increase (Decrease) in Stockholders' Equity
Common stock, shares outstanding (in shares)				450,000,000
Beginning balance at Dec. 31, 2021			$ 0
Ending balance at Mar. 31, 2022			0
Beginning balance at Dec. 31, 2021		$ 2,977		$ 5	$ 6,209	$ (2,315)	$ (214)	$ (708)
Beginning balance (in shares) at Dec. 31, 2021								27,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		426				426
Other comprehensive income (loss)		(7)					(7)
Net settlement on vesting of restricted stock		(4)			(4)
Stock-based compensation charges		28			28
Public Warrant exercises		4			4
Share repurchases (in shares)				(35,000,000)				(35,000,000)
Share repurchases		(722)						$ (722)
Common stock, shares outstanding, ending (in shares) at Mar. 31, 2022				415,000,000
Ending balance (in shares) at Mar. 31, 2022								62,000,000
Ending balance at Mar. 31, 2022		2,702		$ 5	6,237	(1,889)	(221)	$ (1,430)
Beginning balance at Dec. 31, 2021			0
Ending balance at Sep. 30, 2022			$ 0
Beginning balance at Dec. 31, 2021		2,977		$ 5	6,209	(2,315)	(214)	$ (708)
Beginning balance (in shares) at Dec. 31, 2021								27,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		1,943
Other comprehensive income (loss)		(145)
Common stock, shares outstanding, ending (in shares) at Sep. 30, 2022				341,000,000
Ending balance (in shares) at Sep. 30, 2022								137,000,000
Ending balance at Sep. 30, 2022		2,761		$ 5	6,308	(372)	(359)	$ (2,821)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)			0
Increase (Decrease) in Stockholders' Equity
Common stock, shares outstanding (in shares)				415,000,000
Beginning balance at Mar. 31, 2022			$ 0
Ending balance at Jun. 30, 2022			$ 0
Beginning balance at Mar. 31, 2022		2,702		$ 5	6,237	(1,889)	(221)	$ (1,430)
Beginning balance (in shares) at Mar. 31, 2022								62,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		940				940
Other comprehensive income (loss)		(59)					(59)
Stock-based compensation charges		36			36
Public Warrant exercises		1			1
Share repurchases (in shares)				(47,000,000)				(47,000,000)
Share repurchases		(891)						$ (891)
Common stock, shares outstanding, ending (in shares) at Jun. 30, 2022				368,000,000
Ending balance (in shares) at Jun. 30, 2022								109,000,000
Ending balance at Jun. 30, 2022		2,729		$ 5	6,274	(949)	(280)	$ (2,321)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)			0
Increase (Decrease) in Stockholders' Equity
Common stock, shares outstanding (in shares)				368,000,000
Ending balance at Sep. 30, 2022			$ 0
Increase (Decrease) in Stockholders' Equity
Net income (loss)		577				577
Other comprehensive income (loss)		(79)					(79)
Stock-based compensation charges		33			33
Public Warrant exercises		1			1
Share repurchases (in shares)				(27,000,000)				(28,000,000)
Share repurchases		(500)						$ (500)
Common stock, shares outstanding, ending (in shares) at Sep. 30, 2022				341,000,000
Ending balance (in shares) at Sep. 30, 2022								137,000,000
Ending balance at Sep. 30, 2022		$ 2,761		$ 5	6,308	(372)	(359)	$ (2,821)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)			0
Increase (Decrease) in Stockholders' Equity
Common stock, shares outstanding (in shares)				341,000,000
Preferred stock, shares outstanding (in shares)		0	0
Common stock, shares outstanding (in shares)		323,483,178		323,000,000
Beginning balance at Dec. 31, 2022		$ 0	$ 0
Ending balance at Mar. 31, 2023			0
Beginning balance at Dec. 31, 2022		$ 2,645		$ 5	6,326	(256)	(294)	$ (3,136)
Beginning balance (in shares) at Dec. 31, 2022		155,430,884						155,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		$ 196				196
Other comprehensive income (loss)		14					14
Net settlement on vesting of restricted stock		(1)			(1)
Stock-based compensation charges		21			21
Share repurchases (in shares)	[1],[2]			(5,000,000)				(6,000,000)
Share repurchases	[1],[2]	(101)						$ (101)
Common stock, shares outstanding, ending (in shares) at Mar. 31, 2023				318,000,000
Ending balance (in shares) at Mar. 31, 2023								161,000,000
Ending balance at Mar. 31, 2023		2,774		$ 5	6,346	(60)	(280)	$ (3,237)
Beginning balance at Dec. 31, 2022		0	0
Ending balance at Sep. 30, 2023		0	$ 0
Beginning balance at Dec. 31, 2022		$ 2,645		$ 5	6,326	(256)	(294)	$ (3,136)
Beginning balance (in shares) at Dec. 31, 2022		155,430,884						155,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		$ 964
Other comprehensive income (loss)		$ (29)
Common stock, shares outstanding, ending (in shares) at Sep. 30, 2023		308,798,093		309,000,000
Ending balance (in shares) at Sep. 30, 2023		170,455,524						170,000,000
Ending balance at Sep. 30, 2023		$ 3,390		$ 5	6,389	708	(323)	$ (3,389)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)			0
Increase (Decrease) in Stockholders' Equity
Common stock, shares outstanding (in shares)				318,000,000
Beginning balance at Mar. 31, 2023			$ 0
Ending balance at Jun. 30, 2023			$ 0
Beginning balance at Mar. 31, 2023		2,774		$ 5	6,346	(60)	(280)	$ (3,237)
Beginning balance (in shares) at Mar. 31, 2023								161,000,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)		139				139
Other comprehensive income (loss)		4					4
Stock-based compensation charges		22			22
Public Warrant exercises	[1]	1			1
Share repurchases (in shares)	[1]			(6,000,000)				(6,000,000)
Share repurchases	[1]	(101)						$ (101)
Common stock, shares outstanding, ending (in shares) at Jun. 30, 2023				312,000,000
Ending balance (in shares) at Jun. 30, 2023								167,000,000
Ending balance at Jun. 30, 2023		2,839		$ 5	6,369	79	(276)	$ (3,338)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)			0
Increase (Decrease) in Stockholders' Equity
Common stock, shares outstanding (in shares)				312,000,000
Ending balance at Sep. 30, 2023		0	$ 0
Increase (Decrease) in Stockholders' Equity
Net income (loss)		629				629
Other comprehensive income (loss)		(47)					(47)
Net settlement on vesting of restricted stock		(2)			(2)
Stock-based compensation charges	[1]	22			22
Share repurchases (in shares)				(3,000,000)				(3,000,000)	[1]
Share repurchases	[1]	$ (51)						$ (51)
Common stock, shares outstanding, ending (in shares) at Sep. 30, 2023		308,798,093		309,000,000
Ending balance (in shares) at Sep. 30, 2023		170,455,524						170,000,000
Ending balance at Sep. 30, 2023		$ 3,390		$ 5	$ 6,389	$ 708	$ (323)	$ (3,389)
Increase (Decrease) in Temporary Equity [Roll Forward]
Preferred stock, shares outstanding (in shares)		0	0
Increase (Decrease) in Stockholders' Equity
Common stock, shares outstanding (in shares)		308,798,093		309,000,000
[1]Also see Note 8, "Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global."[2]The amounts presented herein may be rounded to agree to amounts in the unaudited condensed consolidated balance sheet.

THC - CONDENSED CONSOLIDATED _4

THC - CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY EQUITY (DEFICIT) (Unaudited) - USD ($) $ in Millions		Total		The Hertz Corporation	Common Stock	Common Stock The Hertz Corporation	Additional Paid-In Capital		Additional Paid-In Capital The Hertz Corporation		Accumulated Deficit	Accumulated Deficit The Hertz Corporation	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The Hertz Corporation
Common stock, shares outstanding, beginning (in shares) at Dec. 31, 2021					450,000,000	100
Beginning balance at Dec. 31, 2021		$ 2,977		$ 4,350	$ 5	$ 0	$ 6,209		$ 7,190		$ (2,315)	$ (2,626)	$ (214)	$ (214)
Increase (Decrease) in Stockholders' Equity
Net income (loss)		426		376							426	376
Other comprehensive income (loss)		(7)		(7)									(7)	(7)
Stock-based compensation charges		28		28			28		28
Dividends paid to Hertz Holdings				(767)					(767)
Common stock, shares outstanding, ending (in shares) at Mar. 31, 2022					415,000,000	100
Ending balance at Mar. 31, 2022		2,702		3,980	$ 5	$ 0	6,237		6,451		(1,889)	(2,250)	(221)	(221)
Common stock, shares outstanding, beginning (in shares) at Dec. 31, 2021					450,000,000	100
Beginning balance at Dec. 31, 2021		2,977		4,350	$ 5	$ 0	6,209		7,190		(2,315)	(2,626)	(214)	(214)
Increase (Decrease) in Stockholders' Equity
Net income (loss)		1,943		1,359
Other comprehensive income (loss)		(145)		(145)
Common stock, shares outstanding, ending (in shares) at Sep. 30, 2022					341,000,000	100
Ending balance at Sep. 30, 2022		2,761		3,509	$ 5	$ 0	6,308		5,135		(372)	(1,267)	(359)	(359)
Common stock, shares outstanding, beginning (in shares) at Mar. 31, 2022					415,000,000	100
Beginning balance at Mar. 31, 2022		2,702		3,980	$ 5	$ 0	6,237		6,451		(1,889)	(2,250)	(221)	(221)
Increase (Decrease) in Stockholders' Equity
Net income (loss)		940		480							940	480
Other comprehensive income (loss)		(59)		(59)									(59)	(59)
Stock-based compensation charges		36		36			36		36
Dividends paid to Hertz Holdings				(881)					(881)
Common stock, shares outstanding, ending (in shares) at Jun. 30, 2022					368,000,000	100
Ending balance at Jun. 30, 2022		2,729		3,556	$ 5	$ 0	6,274		5,606		(949)	(1,770)	(280)	(280)
Increase (Decrease) in Stockholders' Equity
Net income (loss)		577		503							577	503
Other comprehensive income (loss)		(79)		(79)									(79)	(79)
Stock-based compensation charges		33		33			33		33
Dividends paid to Hertz Holdings				(504)					(504)
Common stock, shares outstanding, ending (in shares) at Sep. 30, 2022					341,000,000	100
Ending balance at Sep. 30, 2022		$ 2,761		$ 3,509	$ 5	$ 0	6,308		5,135		(372)	(1,267)	(359)	(359)
Common stock, shares outstanding, beginning (in shares) at Dec. 31, 2022		323,483,178		100	323,000,000	100
Beginning balance at Dec. 31, 2022		$ 2,645		$ 3,279	$ 5	$ 0	6,326		4,844		(256)	(1,271)	(294)	(294)
Increase (Decrease) in Stockholders' Equity
Net income (loss)		196		314							196	314
Other comprehensive income (loss)		14		14									14	14
Stock-based compensation charges		21		21			21		21
Dividends paid to Hertz Holdings	[1]			(118)					(118)
Common stock, shares outstanding, ending (in shares) at Mar. 31, 2023					318,000,000	100
Ending balance at Mar. 31, 2023		$ 2,774		$ 3,510	$ 5	$ 0	6,346		4,747		(60)	(957)	(280)	(280)
Common stock, shares outstanding, beginning (in shares) at Dec. 31, 2022		323,483,178		100	323,000,000	100
Beginning balance at Dec. 31, 2022		$ 2,645		$ 3,279	$ 5	$ 0	6,326		4,844		(256)	(1,271)	(294)	(294)
Increase (Decrease) in Stockholders' Equity
Net income (loss)		964		853
Other comprehensive income (loss)		$ (29)		$ (29)
Common stock, shares outstanding, ending (in shares) at Sep. 30, 2023		308,798,093		100	309,000,000	100
Ending balance at Sep. 30, 2023		$ 3,390		$ 3,896	$ 5	$ 0	6,389		4,637		708	(418)	(323)	(323)
Common stock, shares outstanding, beginning (in shares) at Mar. 31, 2023					318,000,000	100
Beginning balance at Mar. 31, 2023		2,774		3,510	$ 5	$ 0	6,346		4,747		(60)	(957)	(280)	(280)
Increase (Decrease) in Stockholders' Equity
Net income (loss)		139		240							139	240
Other comprehensive income (loss)		4		4									4	4
Stock-based compensation charges		22		22			22		22
Dividends paid to Hertz Holdings	[1]			(102)					(102)
Common stock, shares outstanding, ending (in shares) at Jun. 30, 2023					312,000,000	100
Ending balance at Jun. 30, 2023		2,839		3,674	$ 5	$ 0	6,369		4,667		79	(717)	(276)	(276)
Increase (Decrease) in Stockholders' Equity
Net income (loss)		629		299							629	299
Other comprehensive income (loss)		(47)		(47)									(47)	(47)
Stock-based compensation charges		$ 22	[2]	22			22	[2]	22
Dividends paid to Hertz Holdings				$ (52)					(52)	[1]
Common stock, shares outstanding, ending (in shares) at Sep. 30, 2023		308,798,093		100	309,000,000	100
Ending balance at Sep. 30, 2023		$ 3,390		$ 3,896	$ 5	$ 0	$ 6,389		$ 4,637		$ 708	$ (418)	$ (323)	$ (323)
[1]See "Share Repurchase Programs for Common Stock" in Note 8, "Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global," for additional information.[2]Also see Note 8, "Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global."

HGH - CONDENSED CONSOLIDATED _5

HGH - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 964	$ 1,943
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles, net	1,490	511
Depreciation and amortization, non-vehicle	100	105
Amortization of deferred financing costs and debt discount (premium)	44	38
Stock-based compensation charges	65	96
Provision for receivables allowance	67	42
Deferred income taxes, net	(236)	301
(Gain) loss on sale of non-vehicle capital assets	(165)	(5)
Change in fair value of Public Warrants	(110)	(584)
Changes in financial instruments	107	(120)
Other	9	3
Changes in assets and liabilities:
Non-vehicle receivables	(383)	(234)
Prepaid expenses and other assets	(95)	(80)
Operating lease right-of-use assets	253	202
Non-vehicle accounts payable	27	(7)
Accrued liabilities	3	183
Accrued taxes, net	45	52
Operating lease liabilities	(275)	(223)
Self-insured liabilities	0	38
Net cash provided by (used in) operating activities	1,910	2,261
Cash flows from investing activities:
Revenue earning vehicles expenditures	(8,312)	(7,853)
Proceeds from disposal of revenue earning vehicles	4,178	4,470
Non-vehicle capital asset expenditures	(151)	(104)
Proceeds from disposal of non-vehicle capital assets	178	10
Collateral returned in exchange for letters of credit	0	19
Return of (investment in) equity investments	(1)	(15)
Net cash provided by (used in) investing activities	(4,108)	(3,473)
Cash flows from financing activities:
Payment of financing costs	(31)	(42)
Proceeds from exercises of Public Warrants	0	3
Share repurchases	(272)	(2,152)
Other	(3)	(4)
Net cash provided by (used in) financing activities	1,833	119
Effect of foreign currency exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents	3	(50)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents during the period	(362)	(1,143)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period	1,418	2,651
Cash and cash equivalents and restricted cash and cash equivalents at end of period	1,056	1,508
Cash paid during the period for:
Income taxes, net of refunds	27	60
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives	199	88
Sales of revenue earning vehicles included in vehicle receivables	250	198
Purchases of non-vehicle capital assets included in accounts payable	20	26
Revenue earning vehicles and non-vehicle capital assets acquired through finance lease	43	7
Public Warrant exercises	0	3
Accrual for purchases of treasury shares	2	16
Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	5,741	8,282
Repayments of debt	(3,739)	(5,954)
Cash paid during the period for:
Interest, net of amounts capitalized:	341	151
Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	1,650	0
Repayments of debt	(1,513)	(14)
Cash paid during the period for:
Interest, net of amounts capitalized:	$ 170	$ 97

THC - CONDENSED CONSOLIDATED _5

THC - CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income (loss)	$ 964	$ 1,943
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles, net	1,490	511
Depreciation and amortization, non-vehicle	100	105
Amortization of deferred financing costs and debt discount (premium)	44	38
Stock-based compensation charges	65	96
Provision for receivables allowance	67	42
Deferred income taxes, net	(236)	301
(Gain) loss on sale of non-vehicle capital assets	(165)	(5)
Other	9	3
Changes in assets and liabilities:
Non-vehicle receivables	(383)	(234)
Prepaid expenses and other assets	(95)	(80)
Operating lease right-of-use assets	253	202
Non-vehicle accounts payable	27	(7)
Accrued liabilities	3	183
Accrued taxes, net	45	52
Operating lease liabilities	(275)	(223)
Self-insured liabilities	0	38
Net cash provided by (used in) operating activities	1,910	2,261
Cash flows from investing activities:
Revenue earning vehicles expenditures	(8,312)	(7,853)
Proceeds from disposal of revenue earning vehicles	4,178	4,470
Non-vehicle capital asset expenditures	(151)	(104)
Proceeds from disposal of non-vehicle capital assets	178	10
Collateral returned in exchange for letters of credit	0	19
Return of (investment in) equity investments	(1)	(15)
Net cash provided by (used in) investing activities	(4,108)	(3,473)
Cash flows from financing activities:
Payment of financing costs	(31)	(42)
Other	(3)	(4)
Net cash provided by (used in) financing activities	1,833	119
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents during the period	(362)	(1,143)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period	1,418
Cash and cash equivalents and restricted cash and cash equivalents at end of period	1,056
Cash paid during the period for:
Income taxes, net of refunds	27	60
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives	199	88
Sales of revenue earning vehicles included in vehicle receivables	250	198
Purchases of non-vehicle capital assets included in accounts payable	20	26
Revenue earning vehicles and non-vehicle capital assets acquired through finance lease	43	7
Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	5,741	8,282
Repayments of debt	(3,739)	(5,954)
Cash paid during the period for:
Interest, net of amounts capitalized:	341	151
Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	1,650	0
Repayments of debt	(1,513)	(14)
Cash paid during the period for:
Interest, net of amounts capitalized:	170	97
The Hertz Corporation
Cash flows from operating activities:
Net income (loss)	853	1,359
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and reserves for revenue earning vehicles, net	1,490	511
Depreciation and amortization, non-vehicle	100	105
Amortization of deferred financing costs and debt discount (premium)	44	38
Stock-based compensation charges	65	96
Provision for receivables allowance	67	42
Deferred income taxes, net	(236)	301
(Gain) loss on sale of non-vehicle capital assets	(165)	(5)
Changes in financial instruments	107	(120)
Other	10	3
Changes in assets and liabilities:
Non-vehicle receivables	(383)	(234)
Prepaid expenses and other assets	(95)	(80)
Operating lease right-of-use assets	253	202
Non-vehicle accounts payable	27	(7)
Accrued liabilities	3	183
Accrued taxes, net	42	52
Operating lease liabilities	(275)	(223)
Self-insured liabilities	0	38
Net cash provided by (used in) operating activities	1,907	2,261
Cash flows from investing activities:
Revenue earning vehicles expenditures	(8,312)	(7,853)
Proceeds from disposal of revenue earning vehicles	4,178	4,470
Non-vehicle capital asset expenditures	(151)	(104)
Proceeds from disposal of non-vehicle capital assets	178	10
Collateral returned in exchange for letters of credit	0	19
Return of (investment in) equity investments	(1)	(15)
Net cash provided by (used in) investing activities	(4,108)	(3,473)
Cash flows from financing activities:
Payment of financing costs	(31)	(42)
Dividends paid to Hertz Holdings	(272)	(2,152)
Other	0	0
Net cash provided by (used in) financing activities	1,836	120
Effect of foreign currency exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents	3	(50)
Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents during the period	(362)	(1,142)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period	1,418	2,650
Cash and cash equivalents and restricted cash and cash equivalents at end of period	1,056	1,508
Cash paid during the period for:
Income taxes, net of refunds	27	60
Supplemental disclosures of non-cash information:
Purchases of revenue earning vehicles included in accounts payable, net of incentives	199	88
Sales of revenue earning vehicles included in vehicle receivables	250	198
Purchases of non-vehicle capital assets included in accounts payable	20	26
Revenue earning vehicles and non-vehicle capital assets acquired through finance lease	43	7
The Hertz Corporation | Vehicles
Cash flows from financing activities:
Proceeds from issuance of debt	5,741	8,282
Repayments of debt	(3,739)	(5,954)
Cash paid during the period for:
Interest, net of amounts capitalized:	341	151
The Hertz Corporation | Non-vehicle
Cash flows from financing activities:
Proceeds from issuance of debt	1,650	0
Repayments of debt	(1,513)	(14)
Cash paid during the period for:
Interest, net of amounts capitalized:	$ 170	$ 97

Background

Background	9 Months Ended
	Sep. 30, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background	Background Hertz Global Holdings, Inc. ("Hertz Global" when including its subsidiaries and VIEs and "Hertz Holdings" when excluding its subsidiaries and VIEs) was incorporated in Delaware in 2015 to serve as the top-level holding company for Rental Car Intermediate Holdings, LLC, which wholly owns The Hertz Corporation ("Hertz" and interchangeably with Hertz Global, the "Company"), Hertz Global's primary operating company. Hertz was incorporated in Delaware in 1967 and is a successor to corporations that have been engaged in the vehicle rental and leasing business since 1918. Hertz operates its vehicle rental business globally primarily through the Hertz, Dollar and Thrifty brands from company-operated and franchisee locations in the United States ("U.S."), Africa, Asia, Australia, Canada, the Caribbean, Europe, Latin America, the Middle East and New Zealand. The Company also sells vehicles through Hertz Car Sales.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation Basis of Presentation This Quarterly Report on Form 10-Q combines the quarterly reports on Form 10-Q for the quarterly period ended September 30, 2023 of Hertz Global and Hertz. Hertz Global consolidates Hertz for financial statement purposes and, therefore, disclosures that relate to activities of Hertz also apply to Hertz Global. In the sections that combine disclosure of Hertz Global and Hertz, this report refers to actions as being actions of the Company, or Hertz Global, which is appropriate because the business is one enterprise and Hertz Global operates the business through Hertz. When appropriate, Hertz Global and Hertz are named specifically for their individual disclosures and any significant differences between the operations and results of Hertz Global and Hertz are separately disclosed and explained. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”). In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. The Company's vehicle rental operations are typically a seasonal business, with decreased levels of business in the winter months and heightened activity during the spring and summer months for the majority of countries where the Company generates revenues. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes. Actual results could differ materially from those estimates. The December 31, 2022 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, 2022 (the "2022 Form 10-K"), as filed with the Securities and Exchange Commission ("SEC") on February 7, 2023. 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.

Divestitures

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

Revenue Earning Vehicles

Revenue Earning Vehicles	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenue Earning Vehicles	Revenue Earning Vehicles The components of revenue earning vehicles, net are as follows: (In millions) September 30, December 31, Revenue earning vehicles $ 16,615 $ 13,654 Less accumulated depreciation (1,946) (1,649) 14,669 12,005 Revenue earning vehicles held for sale, net (1) 790 490 Revenue earning vehicles, net $ 15,459 $ 12,495 (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. Depreciation of revenue earning vehicles and lease charges, net includes the following: Three Months Ended Nine Months Ended (In millions) 2023 2022 2023 2022 Depreciation of revenue earning vehicles $ 483 $ 528 $ 1,337 $ 1,282 (Gain) loss on disposal of revenue earning vehicles 10 (238) (146) (956) Rents paid for vehicles leased 8 4 20 15 Depreciation of revenue earning vehicles and lease charges, net $ 501 $ 294 $ 1,211 $ 341

Debt

Debt	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt The Company's debt, including its available credit facilities, consists of the following ($ in millions) as of September 30, 2023 and December 31, 2022: Facility Weighted-Average Interest Rate Fixed or Maturity September 30, December 31, Non-Vehicle Debt Term B Loan 8.70% Floating 6/2028 $ 1,271 $ 1,281 Term C Loan 8.70% Floating 6/2028 245 245 Senior Notes Due 2026 4.63% Fixed 12/2026 500 500 Senior Notes Due 2029 5.00% Fixed 12/2029 1,000 1,000 First Lien RCF 8.43% Floating 6/2026 150 — Other Non-Vehicle Debt (1) 6.02% Fixed Various 4 9 Unamortized Debt Issuance Costs and Net (Discount) Premium (51) (58) Total Non-Vehicle Debt 3,119 2,977 Vehicle Debt HVF III U.S. ABS Program HVF III U.S. Vehicle Variable Funding Notes HVF III Series 2021-A Class A (2) 6.95% Floating 6/2025 1,883 2,363 HVF III Series 2021-A Class B (2) 9.44% Fixed 8/2025 188 188 2,071 2,551 HVF III U.S. Vehicle Medium Term Notes HVF III Series 2021-1 (2) 1.66% Fixed 12/2024 2,000 2,000 HVF III Series 2021-2 (2) 2.12% Fixed 12/2026 2,000 2,000 HVF III Series 2022-1 (2) 2.44% Fixed 6/2025 750 750 HVF III Series 2022-2 (2) 2.78% Fixed 6/2027 750 652 HVF III Series 2022-3 (2) 3.89% Fixed 3/2024 383 383 HVF III Series 2022-4 (2) 4.22% Fixed 9/2025 667 667 HVF III Series 2022-5 (2) 4.39% Fixed 9/2027 364 317 HVF III Series 2023-1 (2) 6.17% Fixed 6/2026 500 — HVF III Series 2023-2 (2) 6.30% Fixed 9/2028 300 — HVF III Series 2023-3 (2) 6.46% Fixed 2/2027 500 — HVF III Series 2023-4 (2) 6.66% Fixed 3/2029 500 — 8,714 6,769 Vehicle Debt - Other Repurchase Facility N/A Fixed N/A — 86 European ABS (2) 5.69% Floating 3/2026 1,260 811 Hertz Canadian Securitization (2) 6.92% Floating 6/2025 393 283 Australian Securitization (2) 5.71% Floating 6/2025 182 168 New Zealand RCF 8.44% Floating 6/2025 51 54 U.K. Financing Facility 7.85% Floating 10/2023-7/2027 188 101 U.K. Toyota Financing Facility 7.50% Floating 10/2023-5/2024 31 49 Facility Weighted-Average Interest Rate Fixed or Maturity September 30, December 31, Other Vehicle Debt 4.32% Floating 10/2023-7/2027 83 76 2,188 1,628 Unamortized Debt Issuance Costs and Net (Discount) Premium (79) (62) Total Vehicle Debt 12,894 10,886 Total Debt $ 16,013 $ 13,863 (1) Other non-vehicle debt is primarily comprised of $1 million and $6 million in finance lease obligations (2) Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness originally expect the outstanding principal of the relevant indebtedness to be repaid in full. The legal final maturity date is the date on which the outstanding principal of the relevant indebtedness is legally due and payable in full. Non-vehicle Debt First Lien Credit Agreement In March 2023, Hertz increased the aggregate committed amount of the First Lien RCF from $1.9 billion to $2.0 billion. In May 2023, Hertz amended the First Lien Credit Agreement to change the benchmark interest rate on the Term B Loan and the Term C Loan from USD LIBOR to the Secured Overnight Financing Rate ("SOFR") in connection with the cessation of USD LIBOR. Vehicle Debt HVF III U.S. ABS Program HVF III Series 2021-A Notes : In June 2023, Hertz Vehicle Financing III LLC ("HVF III"), a wholly-owned, special-purpose and bankruptcy-remote subsidiary of Hertz, increased the commitments for the Series 2021-A Notes, increasing the maximum principal amount that may be outstanding from $3.9 billion to $4.1 billion. Additionally, the maturity dates of the Series 2021-A Class A Notes and Class B Notes were extended to June 2025 and August 2025, respectively. HVF III Series 2023-1 Notes : In March 2023, HVF III issued the Series 2023-1 Notes in four classes (Class A, Class B, Class C and Class D) in an aggregate principal amount of $500 million. At the time of issuance, Hertz, an affiliate of HVF III, purchased the Class D Notes in an aggregate principal amount of $40 million. HVF III Series 2023-2 Notes : In March 2023, HVF III issued the Series 2023-2 Notes in four classes (Class A, Class B, Class C and Class D) in an aggregate principal amount of $300 million. HVF III Series 2023-3 Notes : In August 2023, HVF III issued the Series 2023-3 Notes in four classes (Class A, Class B, Class C and Class D) in an aggregate principal amount of $500 million. HVF III Series 2023-4 Notes : In August 2023, HVF III issued the Series 2023-4 Notes in four classes (Class A, Class B, Class C and Class D) in an aggregate principal amount of $500 million. There is subordination within each of the preceding series based on class. HVF III Series 2022-2, Series 2022-5 and Series 2023-1 Class D Notes (the "Class D Notes"): At the time of initial issuance of the Class D Notes, Hertz, an affiliate of HVF III, purchased the Class D Notes. In September 2023, Hertz sold the Class D Notes to third parties. (In millions) Aggregate Principal Amount HVF III Series 2022-2 Class D Notes $ 98 HVF III Series 2022-5 Class D Notes 47 HVF III Series 2023-1 Class D Notes 40 Total $ 185 Vehicle Debt-Other Repurchase Facilities Beginning in 2022, Hertz entered into and in the future may enter into repurchase agreements related to retained HVF III Series Notes (the "Repurchase Facilities"), whereby Hertz can sell and repurchase at a pre-determined price any of the retained HVF III Series Notes. Transactions occurring under the Repurchase Facilities are based on mutually agreeable terms and prevailing rates. As of September 30, 2023, there were no repurchase transactions outstanding under the Repurchase Facilities. European ABS In September 2023, International Fleet Financing No. 2 BV ("IFF No. 2"), an indirect, special purpose subsidiary of Hertz, amended the European ABS to (i) increase the aggregate maximum borrowings to €1.2 billion, (ii) extend the maturity date to March 2026 and (iii) amend certain other provisions to provide for further operating flexibility. Hertz Canadian Securitization In June 2023, TCL Funding Limited Partnership, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Hertz, amended the Hertz Canadian Securitization to provide for aggregate maximum borrowings of CAD$475 million and to extend the maturity date to June 2025. Additionally, the Hertz Canadian Securitization was amended to provide for aggregate maximum borrowings of CAD$575 million for a seasonal commitment period through November 2023. Following the expiration of the seasonal commitment period, aggregate maximum borrowings will revert to CAD$475 million. Australian Securitization In June 2023, HA Fleet Pty Limited, an indirect wholly-owned subsidiary of Hertz, amended the Australian Securitization to provide for aggregate maximum borrowings of AUD$340 million and to extend the maturity date to June 2025. New Zealand RCF In March 2023, Hertz New Zealand Holding Limited, an indirect, wholly-owned subsidiary of Hertz, amended its credit agreement to extend its seasonal commitment period and provide for aggregate maximum borrowings of NZD$80 million with step downs in committed capacity through May 2023. Following the expiration of the seasonal commitment period, aggregate maximum borrowings reverted to NZD$60 million. In August 2023, the New Zealand RCF was amended to provide for aggregate maximum borrowings of NZD$120 million and to extend the maturity date to June 2025. U.K. Financing Facility In June 2023, Hertz U.K. Limited amended the U.K. Financing Facility to provide for aggregate maximum borrowings of £135 million and to extend the maturity date to November 2024. Additionally, the U.K. Financing Facility was amended to provide for aggregate maximum borrowings of £155 million for a seasonal commitment period through October 2023. Following the expiration of the seasonal commitment period, aggregate maximum borrowings will revert to £135 million. Borrowing Capacity and Availability Borrowing capacity and availability comes from the Company's revolving credit facilities, which are a combination of variable funding asset-backed securitization facilities, cash-flow based revolving credit facilities, asset-based revolving credit facilities and the First Lien RCF. Creditors under each such asset-backed securitization facility and asset-based revolving credit facility have a claim on a specific pool of assets as collateral. With respect to each such asset-backed securitization facility and asset-based revolving credit facility, the Company refers to the amount of debt it can borrow given a certain pool of assets as the borrowing base. The Company refers to "Remaining Capacity" as the maximum principal amount of debt permitted to be outstanding under the respective facility (i.e., with respect to a variable funding asset-backed securitization facility or asset-based revolving credit facility, the amount of debt the Company could borrow assuming it possessed sufficient assets as collateral) less the principal amount of debt then-outstanding under such facility and, in the case of the First Lien RCF, less any issued standby letters of credit. With respect to a variable funding asset-backed securitization facility or asset-based revolving credit facility, the Company refers to "Availability Under Borrowing Base Limitation" as the lower of Remaining Capacity or the borrowing base less the principal amount of debt then-outstanding under such facility (i.e., the amount of debt that can be borrowed given the collateral possessed at such time). The following facilities were available to the Company as of September 30, 2023 and are presented net of any outstanding letters of credit: (In millions) Remaining Availability Under Non-Vehicle Debt First Lien RCF $ 1,103 $ 1,103 Total Non-Vehicle Debt 1,103 1,103 Vehicle Debt HVF III Series 2021-A 1,993 — European ABS — — Hertz Canadian Securitization 33 — Australian Securitization 34 — New Zealand RCF 20 — U.K. Financing Facility — — U.K. Toyota Financing Facility 20 — Total Vehicle Debt 2,100 — Total $ 3,203 $ 1,103 Letters of Credit As of September 30, 2023, there were outstanding standby letters of credit totaling $1.0 billion comprised primarily of $747 million issued under the First Lien RCF and $245 million issued under the term loan "C" facility (the "Term C Loan"). As of September 30, 2023, no capacity remains to issue letters of credit under the Term C Loan. Such letters of credit have been issued primarily to provide credit enhancement for the Company's asset-backed securitization facilities and to support the Company's insurance programs, as well as to support the Company's vehicle rental concessions and leaseholds. As of September 30, 2023, none of the issued letters of credit were drawn. Pledges Related to Vehicle Financing Substantially all of the Company's revenue earning vehicles and certain related assets are owned by special purpose entities or are encumbered in favor of the lenders under the various credit facilities, other secured financings or asset-backed securities programs. None of the value of such assets (including the assets owned by Hertz Vehicle Financing III LLC and various other domestic and international subsidiaries that facilitate the Company's international securitizations) will be available to satisfy the claims of unsecured creditors unless the secured creditors are paid in full. The Company has a 25% ownership interest in IFF No. 2, whose sole purpose is to provide commitments to lend under the European ABS in various currencies subject to borrowing bases comprised of revenue earning vehicles and related assets of certain of Hertz International, Ltd.'s subsidiaries. IFF No. 2 is a VIE and the Company is the primary beneficiary; therefore, the assets, liabilities and results of operations of IFF No. 2 are included in the accompanying unaudited condensed consolidated financial statements. As of September 30, 2023 and December 31, 2022, IFF No. 2 had total assets of $1.9 billion and $1.3 billion, respectively, comprised primarily of intercompany receivables, and total liabilities of $1.9 billion and $1.3 billion, respectively, comprised primarily of debt. Covenant Compliance The First Lien RCF credit agreement (the "First Lien Credit Agreement") requires Hertz to comply with the following financial covenant: a First Lien Ratio of less than or equal to 3.00 to 1.00 in the first and last quarters of the calendar year and 3.50 to 1.00 in the second and third quarters of the calendar year. As of September 30, 2023, Hertz was in compliance with the First Lien Ratio. In addition to the financial covenant, the First Lien Credit Agreement contains customary affirmative covenants including, among other things, the delivery of quarterly and annual financial statements and compliance certificates, and covenants related to conduct of business, maintenance of property and insurance, compliance with environmental laws and the granting of security interests for the benefit of the secured parties under that agreement on after-acquired real property, fixtures and future subsidiaries. The First Lien Credit Agreement also contains customary negative covenants, including, among other things, restrictions on the incurrence of liens, indebtedness, asset dispositions and restricted payments. As of September 30, 2023, the Company was in compliance with all covenants in the First Lien Credit Agreement.

Leases

Leases	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Leases	Leases The Company enters into certain agreements as a lessor under which it rents vehicles and leases fleets to customers. The following table summarizes the amount of operating lease income and other income included in total revenues in the accompanying unaudited condensed consolidated statements of operations: Three Months Ended Nine Months Ended (In millions) 2023 2022 2023 2022 Operating lease income from vehicle rentals $ 2,476 $ 2,368 $ 6,549 $ 6,315 Variable operating lease income 155 58 452 159 Revenue accounted for under Topic 842 2,631 2,426 7,001 6,474 Revenue accounted for under Topic 606 72 70 186 176 Total revenues $ 2,703 $ 2,496 $ 7,187 $ 6,650

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Tax (Provision) Benefit	Income Tax (Provision) Benefit Hertz Global For the three months ended September 30, 2023, Hertz Global recorded a tax benefit of $70 million, which resulted in an effective tax rate of (13%). For the three months ended September 30, 2022, Hertz Global recorded a tax provision of $70 million, which resulted in an effective tax rate of 11%. The change in tax in the three months ended September 30, 2023 compared to 2022 is driven by benefits from electric vehicle credits generated in 2023 and the non-taxable change in the fair value of warrants, offset by lower valuation allowance releases. For the nine months ended September 30, 2023, Hertz Global recorded a tax benefit of $185 million, which resulted in an effective tax rate of (24%). For the nine months ended September 30, 2022, Hertz Global recorded a tax provision of $379 million, which resulted in an effective tax rate of 16%. The change in tax in the nine months of 2023 compared to 2022 is driven by lower pre-tax income, benefits from electric vehicle credits generated in 2023, and the recognition of uncertain tax benefits related to our tax restructuring of European operations, offset by the non-taxable change in the fair value of warrants. As previously disclosed, Hertz Global filed a request for a pre-filing agreement with the Internal Revenue Service ("IRS") in December 2021 to determine whether the loss related to our tax restructuring of European operations qualified as an ordinary loss. On February 9, 2023, Hertz Global and the IRS agreed to the character and amount of the loss. This resulted in an additional $163 million of ordinary loss recognized in the nine months ended September 30, 2023. On August 16, 2022, the Inflation Reduction Act of 2022 ("IRA") was enacted into U.S. law. The IRA includes a 15% corporate alternative minimum tax and a 1% excise tax on corporate stock buybacks, both of which became effective after December 31, 2022. Hertz Global does not currently anticipate a material impact to its results of operations, cash flows or financial position related to these provisions. The IRA also included income tax incentives associated with electric vehicles placed in service after December 31, 2022. An estimate of these credits has been included in the tax calculation for the three and nine months ended September 30, 2023. Hertz For the three months ended September 30, 2023, Hertz recorded a tax benefit of $68 million, which resulted in an effective tax rate of (30%). For the three months ended September 30, 2022, Hertz recorded a tax provision of $71 million, which resulted in an effective tax rate of 12%. The change in tax in the three months ended September 30, 2023 compared to 2022 is driven by benefits from electric vehicle credits generated in 2023 and lower pre-tax income, offset by lower valuation allowance releases. For the nine months ended September 30, 2023, Hertz recorded a tax benefit of $184 million, which resulted in an effective tax rate of (27%). For the nine months ended September 30, 2022, Hertz recorded a tax provision of $379 million, which resulted in an effective tax rate of 22%. The change in tax in the nine months of 2023 compared to 2022 is driven by lower pre-tax income, benefits from electric vehicle credits generated in 2023, and the recognition of uncertain tax benefits related to our tax restructuring of European operations. As previously disclosed, Hertz filed a request for a pre-filing agreement with the IRS in December 2021 to determine whether the loss related to our tax restructuring of European operations qualified as an ordinary loss. On February 9, 2023, Hertz and the IRS agreed to the character and amount of the loss. This resulted in an additional $163 million of ordinary loss in the nine months ended September 30, 2023. On August 16, 2022, the IRA was enacted into U.S. law. The IRA includes a 15% corporate alternative minimum tax and a 1% excise tax on corporate stock buybacks, both of which became effective after December 31, 2022. Hertz does not currently anticipate a material impact to its results of operations, cash flows or financial position related to these provisions. The IRA also included income tax incentives associated with electric vehicles placed in service after December 31, 2022. An estimate of these credits has been included in the tax calculation for the three and nine months ended September 30, 2023.

Public Warrants, Equity and Ear

Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global	Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global Public Warrants During the three and nine months ended September 30, 2023, 11,756 and 45,860 Public Warrants were exercised, of which 6,587 and 30,879 were cashless exercises and 5,169 and 14,981 were exercised for $13.80 per share, respectively. As of September 30, 2023, a cumulative 6,332,099 Public Warrants have been exercised since their original issuance in June 2021. The Public Warrants are recorded at fair value in the accompanying unaudited condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022. See Note 11, "Fair Value Measurements." Share Repurchase Programs for Common Stock In November 2021, Hertz Global's independent Audit Committee recommended, and its Board of Directors approved, a share repurchase program (the "2021 Share Repurchase Program") that authorized the repurchase of up to $2.0 billion worth of shares of Hertz Global's outstanding common stock. During the second quarter of 2022, the Company completed the 2021 Share Repurchase Program. A total of 97,783,047 shares of Hertz Global common stock were repurchased since the inception of the 2021 Share Repurchase Program for an aggregate purchase price of $2.0 billion. In June 2022, Hertz Global's independent Audit Committee recommended, and its Board of Directors approved, a new share repurchase program (the "2022 Share Repurchase Program") that authorized additional repurchases of up to an incremental $2.0 billion worth of shares of Hertz Global's outstanding common stock. During the three and nine months ended September 30, 2023, a total of 3,022,385 and 15,024,640 shares of Hertz Global's common stock were repurchased under the 2022 Share Repurchase Program at an average share price of $16.57 and $16.65 for an aggregate purchase price of $50 million and $250 million, excluding applicable excise tax, respectively. As of September 30, 2023, a total of 62,327,649 shares of Hertz Global's common stock have been repurchased since the inception of the 2022 Share Repurchase Program for an aggregate purchase price of $1.1 billion, excluding applicable excise tax. Common shares repurchased are included in treasury stock in the accompanying Hertz Global unaudited condensed consolidated balance sheet as of September 30, 2023 and December 31, 2022. Between October 1, 2023 and October 19, 2023, a total of 992,371 shares of Hertz Global's common stock were repurchased at an average share price of $11.14 for an aggregate purchase price of $11 million, excluding applicable excise tax. Hertz Global funded the share repurchases with available cash and dividend distributions from Hertz. Any repurchases will be made at the discretion of Hertz Global's management through a variety of methods, such as open-market transactions (including pre-set trading plans pursuant to Rule 10b5-1 of the Exchange Act), privately negotiated transactions, accelerated share repurchases, and other transactions in accordance with applicable securities laws. The share repurchase authorization has no initial time limit, does not obligate Hertz Global to acquire any particular amount of common stock, and can be discontinued at any time. There can be no assurance as to the timing or number of shares of any repurchases. Computation of Earnings (Loss) Per Common Share Basic earnings (loss) per common share has been computed based upon the weighted-average number of common shares outstanding. Diluted earnings (loss) per common share has been computed based upon the weighted-average number of common shares outstanding plus the effect of all potentially dilutive common stock equivalents, including Public Warrants, except when the effect would be anti-dilutive. Additionally, the Company removes the change in fair value of Public Warrants when computing diluted earnings (loss) per common share, when the impact of Public Warrants is dilutive. The following table sets forth the computation of basic and diluted earnings (loss) per common share: Three Months Ended Nine Months Ended (In millions, except per share data) (1) 2023 2022 2023 2022 Numerator: Net income (loss) available to Hertz Global common stockholders, basic $ 629 $ 577 $ 964 $ 1,943 Change in fair value of Public Warrants (328) (73) (110) (584) Net income (loss) available to Hertz Global common stockholders, diluted $ 300 $ 503 $ 853 $ 1,359 Denominator: Basic weighted-average common shares outstanding 311 355 315 395 Dilutive effect of stock options, RSUs and PSUs 2 2 1 1 Dilutive effect of Public Warrants 14 22 15 25 Diluted weighted-average shares outstanding 327 379 332 421 Antidilutive stock options, RSUs and PSUs 5 8 6 6 Total antidilutive 5 8 6 6 Earnings (loss) per common share: Basic $ 2.02 $ 1.62 $ 3.06 $ 4.92 Diluted $ 0.92 $ 1.33 $ 2.57 $ 3.22 (1) The table above is denoted in millions, excluding earnings (loss) per common share. Amounts are calculated from the underlying numbers in thousands, and as a result, may not agree to the amounts shown in the table when calculated in millions.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The stock-based compensation expense associated with the Hertz Holdings stock-based compensation plans is pushed down from Hertz Global and recorded at Hertz. In 2021, Hertz Global's Board of Directors approved the Hertz Global Holdings, Inc. 2021 Omnibus Incentive Plan (the "2021 Omnibus Plan"). As of September 30, 2023, 53,045,064 shares of the Company's common stock are authorized and remain available for future grants under the 2021 Omnibus Plan, which reflects an automatic annual share increase as prescribed by the 2021 Omnibus Plan. Vesting of the outstanding equity awards is also subject to accelerated vesting as set forth in the 2021 Omnibus Plan. A summary of the total employee compensation expense and related income tax benefits recognized for grants made under the 2021 Omnibus Plan is as follows: Three Months Ended Nine Months Ended (In millions) 2023 2022 2023 2022 Employee compensation expense $ 21 $ 32 $ 64 $ 95 Income tax benefit 1 (2) (7) (6) Employee compensation expense, net $ 22 $ 30 $ 57 $ 89 As of September 30, 2023, there was $184 million of total unrecognized employee compensation cost expected to be recognized over the remaining 2.1 years, on a weighted average basis, of the requisite service period that began on the grant dates. Stock Options and Stock Appreciation Rights A summary of stock option activity for the nine months ended September 30, 2023 is presented below: Options Shares Weighted- Weighted- Aggregate Intrinsic Outstanding as of January 1, 2023 3,144,983 $ 26.17 8.2 $ — Granted — — — — Exercised — — — — Forfeited or Expired (685,400) 26.17 — — Outstanding as of September 30, 2023 2,459,583 26.17 8.0 — Exercisable as of September 30, 2023 (1,033,379) 26.17 8.0 — Non-vested as of September 30, 2023 1,426,204 Performance Stock Awards ("PSAs"), Performance Stock Units ("PSUs") and Performance Units ("PUs") A summary of the PSU activity for the nine months ended September 30, 2023 is presented below: Shares Weighted- Aggregate Intrinsic Outstanding as of January 1, 2023 9,292,749 $ 17.62 $ 143 Granted (1) 529,966 17.33 — Vested — — — Forfeited or Expired (94,773) 18.47 — Outstanding as of September 30, 2023 9,727,942 17.59 119 (1) Presented assuming the issuance at the original target award amount (100%). Compensation expense for PSUs is based on the grant date fair value. For grants issued in 2023, vesting eligibility is based on market, performance and service conditions of two As of September 30, 2023, there were no issued or outstanding grants of PSAs or PUs under the 2021 Omnibus Plan. Restricted Stock and Restricted Stock Units ("RSUs") A summary of RSU activity for the nine months ended September 30, 2023 is presented below: Shares Weighted- Aggregate Intrinsic Outstanding as of January 1, 2023 3,412,763 $ 20.82 $ 53 Granted 2,584,880 17.57 — Vested (460,694) 19.02 — Forfeited or Expired (347,012) 20.56 — Outstanding as of September 30, 2023 5,189,937 19.38 64 Additional information pertaining to RSU activity is as follows: Nine Months Ended September 30, 2023 2022 Total fair value of awards that vested (in millions) $ 9 $ 15 Weighted-average grant-date fair value of awards granted $ 17.57 $ 20.01 RSU grants issued in 2023 vest ratably over a period of primarily three Deferred Stock Units As of September 30, 2023, there were approximately 99,000 outstanding shares of deferred stock units under the 2021 Omnibus Plan.

Financial Instruments

Financial Instruments	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Financial Instruments	Financial Instruments The Company employs established risk management policies and procedures, and, under the terms of our ABS facilities, may be required to enter into interest rate derivatives, which seek to reduce the Company’s commercial risk exposure to fluctuations in interest rates and currency exchange rates. Although the instruments utilized involve varying degrees of credit, market and interest risk, the Company contracts with multiple counterparties to mitigate concentrations of risk and the counterparties to the agreements are expected to perform fully under the terms of the agreements. The Company monitors counterparty credit risk, including lenders, on a regular basis, but cannot be certain that all risks will be discerned or that its risk management policies and procedures will always be effective. Additionally, upon the occurrence of an event of default under the Company’s International Swaps and Derivatives Association ("ISDA") master derivative agreements, the non-defaulting party generally has the right, but not the obligation, to set-off any early termination amounts under any such agreements against any other amounts owed with regard to any other agreements between the parties to each such agreement. None of the Company's financial instruments have been designated as hedging instruments as of September 30, 2023 and December 31, 2022. The Company classifies cash flows from the financial instruments according to the classification of the cash flows of the economic hedged item(s). Interest Rate Risk The Company uses a combination of interest rate caps and swaps to manage its exposure to interest rate movements and to manage its mix of floating and fixed-rate debt. Currency Exchange Rate Risk The Company uses foreign currency exchange rate derivative financial instruments to manage its currency exposure resulting from intercompany transactions and other cross currency obligations. Fair Value The following table summarizes the estimated fair value of financial instruments: Fair Value of Financial Instruments Asset Derivatives (1) Liability Derivatives (1) (In millions) September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Interest rate instruments (2) $ 24 $ 140 $ — $ — Foreign currency forward contracts 4 1 3 2 Total $ 28 $ 141 $ 3 $ 2 (1) All asset derivatives are recorded in prepaid expenses and other assets and all liability derivatives are recorded in accrued liabilities in the accompanying unaudited condensed consolidated balance sheets. (2) The activity in 2023 is primarily due to net cash received on monthly settlements, including the sale of interest rate caps disclosed below. The following table summarizes the gains or (losses) on financial instruments for the period indicated: Location of Gain (Loss) Recognized on Derivatives Amount of Gain (Loss) Recognized in Income on Derivatives Three Months Ended Nine Months Ended (In millions) 2023 2022 2023 2022 Interest rate instruments Vehicle interest expense, net $ (7) $ 54 $ 4 $ 119 Foreign currency forward contracts Selling, general and administrative expense (1) 8 8 (2) 6 Total $ 1 $ 62 $ 2 $ 125 (1) For the three and nine months ended September 30, 2022, all gains (losses) on foreign currency forward contracts were recorded in other (income) expense, net. In the first quarter of 2023, the Company sold certain of its interest rate caps resulting in a net gain of $10 million based on the recognition of a $98 million realized gain on the unwind, of which $88 million was previously unrealized. The Company's foreign currency forward contracts and certain interest rate instruments are subject to enforceable master netting agreements with their counterparties. The Company does not offset such derivative assets and liabilities in its unaudited condensed consolidated balance sheets, and the potential effect of the Company’s use of the master netting arrangements is not material.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Under U.S. GAAP, entities are allowed to measure certain financial instruments and other items at fair value. The Company has not elected the fair value measurement option for any of its assets or liabilities that meet the criteria for this option. Irrespective of the fair value option previously described, U.S. GAAP requires certain financial and non-financial assets and liabilities of the Company to be measured on either a recurring basis or on a nonrecurring basis. Fair Value Disclosures The fair value of cash, restricted cash, accounts receivable, accounts payable and accrued liabilities, to the extent the underlying liability will be settled in cash, approximates the carrying values because of the short-term nature of these instruments. Debt Obligations The fair value of the debt facilities is estimated based on quoted market rates as well as borrowing rates currently available to the Company for loans with similar terms and average maturities (i.e., Level 2 inputs). September 30, 2023 December 31, 2022 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Non-Vehicle Debt $ 3,170 $ 2,898 $ 3,035 $ 2,685 Vehicle Debt 12,973 12,388 10,948 10,304 Total $ 16,143 $ 15,286 $ 13,983 $ 12,989 Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table summarizes the Company's cash equivalents, restricted cash equivalents and Public Warrants that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy as follows: September 30, 2023 December 31, 2022 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents and restricted cash equivalents $ 376 $ — $ — $ 376 $ 443 $ — $ — $ 443 Liabilities: Public Warrants $ 506 $ — $ — $ 506 $ 617 $ — $ — $ 617 Cash Equival ents and Restricted Cash Equivalents The Company’s cash equivalents and restricted cash equivalents primarily consist of investments in money market funds and bank money market and interest-bearing accounts. The Company determines the fair value of cash equivalents and restricted cash equivalents using a market approach based on quoted prices in active markets (i.e., Level 1 inputs). Public Warrants Hertz Global's Public Warrants are classified as liabilities and recorded at fair value in the accompanying unaudited condensed consolidated balance sheets as of September 30, 2023 and December 31, 2022 in accordance with the provisions of ASC 480, Distinguishing Liabilities from Equity . See Note 8, "Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global," for additional information. The Company calculates the fair value based on the end-of-day quoted market price, a Level 1 input of the fair value hierarchy. For the three and nine months ended September 30, 2023, the fair value adjustment were gains of $328 million and $110 million, respectively. For the three and nine months ended September 30, 2022, the fair value adjustments were gains of $73 million and $584 million, respectively. These amounts are recorded in change in fair value of Public Warrants in the accompanying unaudited condensed consolidated statement of operations for Hertz Global for the three and nine months ended September 30, 2023 and 2022. Financial Instruments The fair value of the Company's financial instruments as of September 30, 2023 and December 31, 2022 are disclosed in Note 10, "Financial Instruments." The Company's financial instruments are classified as Level 2 assets and liabilities and are priced using quoted market prices for similar assets or liabilities in active markets.

Contingencies and Off-Balance S

Contingencies and Off-Balance Sheet Commitments	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Off-Balance Sheet Commitments	Contingencies and Off-Balance Sheet Commitments Legal Proceedings Self-Insured Liabilities The Company is currently a defendant in numerous actions and has received numerous claims on which actions have not yet commenced for self-insured liabilities arising from the operation of motor vehicles rented from the Company. The obligation for self-insured liabilities on self-insured U.S. and international vehicles, as stated in the accompanying unaudited condensed consolidated balance sheets, represents an estimate for both reported accident claims not yet paid and claims incurred but not yet reported. The related liabilities are recorded on an undiscounted basis and are based on rental volume and actuarial evaluations of historical accident claim experience and trends, as well as future projections of ultimate losses, expenses, premiums and administrative costs. As of September 30, 2023 and December 31, 2022, the Company's liability recorded for self-insured liabilities was $472 million. 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. The Company has summarized below the material legal proceedings to which the Company was a party during the three and nine months ended September 30, 2023 or the period after September 30, 2023, but before the filing of this Quarterly Report. Make-Whole and Post-Petition Interest Claims - On July 1, 2021, Wells Fargo Bank, N.A., in its capacity as indenture trustee of (1) 6.250% Unsecured Notes due 2022 (the "2022 Notes"), (2) 5.500% Unsecured Notes due 2024 (the "2024 Notes"), (3) 7.125% Unsecured Notes due 2026 (the "2026 Notes"), and (4) 6.000% Unsecured Notes due 2028 (the "2028 Notes") issued by The Hertz Corporation (collectively, the “Unsecured Notes”), filed a complaint (the “Complaint”) against The Hertz Corporation and multiple direct and indirect subsidiaries thereof (collectively referred to in this summary as “Defendants”). The filing of the Complaint initiated the adversary proceeding captioned Wells Fargo Bank, National Association v. The Hertz Corporation, et al. in the United States Bankruptcy Court for the District of Delaware, Adv. Pro. No. 21-50995 (MFW). The Complaint seeks a declaratory judgment that the holders of the Unsecured Notes are entitled to payment of certain redemption premiums and post-petition interest that they assert total approximately $272 million or, in the alternative, are entitled to payment of post-petition interest at a contractual rate that they assert totals approximately $125 million. The Complaint also asserts the right to pre-judgment interest from July 1, 2021, to the date of any judgment. On December 22, 2021, the Bankruptcy Court dismissed Wells Fargo’s claims with respect to (i) the redemption premium allegedly owed on the 2022 and 2024 Notes and (ii) post-petition interest at the contract rate. On November 9, 2022, the Bankruptcy Court ruled that the make-whole premium is the same as unmatured interest and is disallowed under the U.S. Bankruptcy Code, granting summary judgment in the Defendants’ favor. The Bankruptcy Court certified the matter directly to the U.S. Court of Appeals for the Third Circuit (the “Third Circuit”) and, on January 25, 2023, the Third Circuit accepted Wells Fargo’s appeal. Oral argument is scheduled for October 25, 2023. The Defendants intend to continue to vigorously defend against these claims. The Company cannot predict the ultimate outcome or timing of this litigation. Claims Related to Alleged False Arrests - A group of claims involving allegations that the police detained or arrested individuals in error after the Company reported rental cars as stolen were previously advanced against the Company. These claims first arose from actions allegedly taken by the Company prior to its emergence from bankruptcy reorganization; some claims allege post-emergence behavior by the Company. These claims have been the subject of press coverage and the Company has received government inquiries on the matter. The Company has policies to help ensure the proper treatment of its customers and to seek to protect itself against the theft of its services or assets, and has taken significant steps to modernize and update those policies. In December 2022, the Company entered into settlement agreements with 364 claimants in full and final resolutions of their claims for an aggregated amount of approximately $168 million (the "Settlement"), all of which amount was paid by the Company during December 2022. The Settlement resolved nearly all of the false arrest-related claims being advanced in the U.S. Bankruptcy Court for the District of Delaware, Adv. Pro. No. 20-11247 (MFW) and state court in Delaware (captioned Flannery, et al. v. Hertz Global Holdings, Inc., et al., C.A. No. N22C-07-100 and Okoasia, et al. v. Hertz Global Holdings, Inc., et al., C.A. No. N22C-09-531 ). Also as a result of the Settlements, state court matters pending in Pennsylvania, captioned Lovelace, et al. v. Hertz Global Holdings, Inc., et al., Case No. 220801729 , and in Florida, captioned Lizasoain, et al. v. Hertz Global Holdings, Inc., et al., Case No. 2022-015316-CA-1, were dismissed with prejudice. In the small number of claims remaining, the Company continues to vigorously defend itself and believes that the ultimate resolution of such remaining claims will not have a material adverse effect on the Company’s business, financial condition, results of operations or cash flows. Relatedly, in May 2022, the Company filed a complaint against several of its insurers seeking a determination of its rights under its commercial general liability, and directors and officers liability, insurance policies for these alleged claims in a declaratory judgment action pending in Delaware Superior Court, Hertz Global Holdings, Inc., et al. v. ACE American Insurance Co., et al., C.A. No. N22C-05-130 MMJ (CCLD) . On June 30, 2023, Hertz entered into a confidential settlement with ACE American Insurance Company. The case is ongoing against the remaining insurers. Share Repurchase Program Litigation - On May 11, 2023, Angelo Cascia, a purported stockholder of Hertz Global, filed a putative class and derivative lawsuit in the Delaware Court of Chancery against certain current and former directors of Hertz Global, Knighthead Capital Management, LLC, Certares Opportunities LLC, and CK Amarillo LP. The claims in the complaint relate to the Company’s share repurchase programs approved in November 2021 and June 2022. Among other allegations, the plaintiff claims Board members breached their fiduciary duties in approving these share repurchase programs, and that Knighthead, Certares, and CK Amarillo were unjustly enriched because they gained a majority stake in Hertz Global as a result of share repurchases. Defendants’ motion to dismiss the complaint was filed on July 24, 2023. On August 16, 2023, purported stockholder Harlan Strauss filed a motion to intervene and stay the case. A hearing on the motion to intervene is scheduled for November 6, 2023. The Company has established reserves for matters where the Company believes that losses are probable and can be reasonably estimated. Other than the aggregate reserve established for claims for self-insured liabilities, none of those reserves are material. For matters where the Company has not established a reserve, the ultimate outcome or resolution cannot be predicted at this time, or the amount of ultimate loss, if any, cannot be reasonably estimated. These matters are subject to many uncertainties and the outcome of the individual litigated matters is not predictable with assurance. It is possible that certain of the actions, claims, inquiries or proceedings could be decided unfavorably to the Company or any of its subsidiaries involved. Accordingly, it is possible that an adverse outcome from such a proceeding could exceed the amount accrued in an amount that could be material to the Company's consolidated financial condition, results of operations or cash flows in any particular reporting period. Other Proceedings Litigation Against Former Executives - The Company filed litigation in the U.S. District Court for the District of New Jersey against former executives Mark Frissora, Elyse Douglas and John Jefferey Zimmerman on March 25, 2019, and in state court in Florida against former executive Scott Sider on March 28, 2019. The complaints predominantly alleged breach of contract and sought repayment of incentive-based compensation received by the defendants in connection with restatements included in the former Hertz Global Holdings, Inc. ("Old Hertz Holdings") Form 10-K for the year ended December 31, 2014 and related accounting for prior periods. The complaints also sought recovery for the costs of an 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. In October 2019, the Company entered into a confidential settlement agreement with Elyse Douglas, and, on April 14, 2021, the Bankruptcy Court approved a Settlement Agreement between the Company and Scott Sider, closing the Florida action. Additionally, on December 29, 2021, the Company entered into a confidential settlement agreement with Jeff Zimmerman, leaving Mark Frissora as the sole remaining defendant in the New Jersey action. Competing dispositive motions were fully briefed as of October 26, 2022 and on June 26, 2023, the U.S. District Court for the District of New Jersey issued an opinion granting Frissora's motion for summary judgment, and dismissing Hertz's complaint. On August 1, 2023, the parties entered into a confidential settlement agreement. Pursuant to the agreements governing the separation of Herc Holdings Inc. from Hertz Global that occurred on June 30, 2016, Herc Holdings Inc. is entitled to 15% of the net proceeds of any repayment or recovery from these cases. 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

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s chief operating decision maker ("CODM") assesses performance and allocates resources based upon the financial information for the Company’s reportable segments. The Company has identified two reportable segments, which are consistent with its operating segments and organized based on the products and services provided and the geographic areas in which business is conducted, as follows: • Americas RAC – Rental of vehicles (cars, crossovers, vans and light trucks), as well as sales of value-added services, in the U.S., Canada, Latin America and the Caribbean; and • International RAC – Rental of vehicles (cars, crossovers, vans and light trucks), as well as sales of value-added services, in locations other than the U.S., Canada, Latin America and the Caribbean. In addition to its reportable segments and other operating activities, the Company has corporate operations ("Corporate") which includes general corporate assets and expenses and certain interest expense (including net interest on non-vehicle debt). Corporate includes other items necessary to reconcile the reportable segments to the Company's total amounts. The following tables provide significant statement of operations and balance sheet information by reportable segment for each of Hertz Global and Hertz, as well as Adjusted EBITDA, the measure used to determine segment profitability. Three Months Ended September 30, Nine Months Ended (In millions) 2023 2022 2023 2022 Revenues Americas RAC $ 2,172 $ 2,042 $ 5,917 $ 5,573 International RAC 531 454 1,270 1,077 Total Hertz Global and Hertz $ 2,703 $ 2,496 $ 7,187 $ 6,650 Depreciation of revenue earning vehicles and lease charges, net Americas RAC $ 414 $ 252 $ 1,035 $ 220 International RAC 87 42 176 121 Total Hertz Global and Hertz $ 501 $ 294 $ 1,211 $ 341 Three Months Ended September 30, Nine Months Ended (In millions) 2023 2022 2023 2022 Adjusted EBITDA Americas RAC $ 302 $ 564 $ 894 $ 1,975 International RAC 109 150 258 269 Total reportable segments 411 714 1,152 2,244 Corporate (52) (96) (209) (248) Total Hertz Global and Hertz $ 359 $ 618 $ 943 $ 1,996 As of (In millions) September 30, 2023 December 31, 2022 Revenue earning vehicles, net Americas RAC $ 13,049 $ 10,813 International RAC 2,410 1,682 Total Hertz Global and Hertz $ 15,459 $ 12,495 Total assets Americas RAC $ 19,964 $ 17,645 International RAC 4,445 3,638 Total reportable segments 24,409 21,283 Corporate 1,145 1,214 Total Hertz Global (1) 25,554 22,497 Corporate - Hertz (1) (1) Total Hertz (1) $ 25,553 $ 22,496 (1) The consolidated total assets of Hertz Global and Hertz as of September 30, 2023 and December 31, 2022 include total assets of VIEs of $1.9 billion and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. See "Pledges Related to Vehicle Financing" in Note 5, "Debt," for further information. Reconciliations of Adjusted EBITDA by reportable segment to consolidated amounts are summarized below: Hertz Global Three Months Ended Nine Months Ended (In millions) 2023 2022 2023 2022 Adjusted EBITDA: Americas RAC $ 302 $ 564 $ 894 $ 1,975 International RAC 109 150 258 269 Total reportable segments 411 714 1,152 2,244 Corporate (1) (52) (96) (209) (248) Total Hertz Global 359 618 943 1,996 Adjustments: Non-vehicle depreciation and amortization (33) (36) (100) (105) Non-vehicle debt interest, net (63) (43) (170) (123) Vehicle debt-related charges (2) (11) (9) (31) (25) Restructuring and restructuring related charges (3) (2) (8) (10) (29) Change in fair value of Public Warrants (4) 328 73 110 584 Unrealized gains (losses) on financial instruments (5) (1) 55 (107) 120 Gain on sale of non-vehicle capital assets (6) — — 162 — Other items (7) (18) (3) (18) (96) Income (loss) before income taxes $ 559 $ 647 $ 779 $ 2,322 Hertz Three Months Ended Nine Months Ended (In millions) 2023 2022 2023 2022 Adjusted EBITDA: Americas RAC $ 302 $ 564 $ 894 $ 1,975 International RAC 109 150 258 269 Total reportable segments 411 714 1,152 2,244 Corporate (1) (52) (96) (209) (248) Total Hertz 359 618 943 1,996 Adjustments: Non-vehicle depreciation and amortization (33) (36) (100) (105) Non-vehicle debt interest, net (63) (43) (170) (123) Vehicle debt-related charges (2) (11) (9) (31) (25) Restructuring and restructuring related charges (3) (2) (8) (10) (29) Unrealized gains (losses) on financial instruments (5) (1) 55 (107) 120 Gain on sale of non-vehicle capital assets (6) — — 162 — Other items (7) (18) (3) (18) (96) Income (loss) before income taxes $ 231 $ 574 $ 669 $ 1,738 (1) Represents other reconciling items primarily consisting of general corporate expenses, non-vehicle interest expense, as well as other business activities. (2) Represents vehicle debt-related charges relating to the amortization of deferred financing costs and debt discounts and premiums. (3) Represents charges incurred under restructuring actions as defined in U.S. GAAP. Also includes restructuring related charges such as incremental costs incurred directly supporting business transformation initiatives. (4) Represents the change in fair value during the reporting period for the Company's outstanding Public Warrants. (5) Represents unrealized gains (losses) on derivative financial instruments. In 2023, also includes the realization of $88 million of previously unrealized gains resulting from the unwind of certain interest rate caps in the first quarter of 2023. See Note 10, "Financial Instruments." (6) Represents gain on sale of certain non-vehicle capital assets sold in March 2023. See Note 3, "Divestitures." (7) Represents miscellaneous items. For the three and nine months ended September 30, 2023, primarily includes certain IT-related costs, charges for certain storm-related vehicle damages and certain professional fees and charges related to the settlement of bankruptcy claims, partially offset by a loss recovery settlement. For the three and nine months ended September 30, 2022, primarily includes bankruptcy claims, certain professional fees and charges related to the settlement of bankruptcy claims and certain non-cash stock-based compensation charges recorded in the first half of the year.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income (loss)	$ 629	$ 139	$ 196	$ 577	$ 940	$ 426	$ 964	$ 1,943

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation (Policies

Basis of Presentation (Policies)	9 Months Ended
	Sep. 30, 2023
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation This Quarterly Report on Form 10-Q combines the quarterly reports on Form 10-Q for the quarterly period ended September 30, 2023 of Hertz Global and Hertz. Hertz Global consolidates Hertz for financial statement purposes and, therefore, disclosures that relate to activities of Hertz also apply to Hertz Global. In the sections that combine disclosure of Hertz Global and Hertz, this report refers to actions as being actions of the Company, or Hertz Global, which is appropriate because the business is one enterprise and Hertz Global operates the business through Hertz. When appropriate, Hertz Global and Hertz are named specifically for their individual disclosures and any significant differences between the operations and results of Hertz Global and Hertz are separately disclosed and explained. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”). In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. The Company's vehicle rental operations are typically a seasonal business, with decreased levels of business in the winter months and heightened activity during the spring and summer months for the majority of countries where the Company generates revenues. The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes. Actual results could differ materially from those estimates.
Principles of Consolidation	Principles of Consolidation The unaudited condensed consolidated financial statements of Hertz Global include the accounts of Hertz Global, its wholly owned and majority owned U.S. and international subsidiaries and its VIEs, as applicable. The unaudited condensed consolidated financial statements of Hertz include the accounts of Hertz, its wholly owned and majority owned U.S. and international subsidiaries and its VIEs, as applicable. The Company consolidates a VIE when it is deemed the primary beneficiary of the VIE. 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.

Revenue Earning Vehicles (Table

Revenue Earning Vehicles (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Components of Revenue Earning Vehicles, Net	The components of revenue earning vehicles, net are as follows: (In millions) September 30, December 31, Revenue earning vehicles $ 16,615 $ 13,654 Less accumulated depreciation (1,946) (1,649) 14,669 12,005 Revenue earning vehicles held for sale, net (1) 790 490 Revenue earning vehicles, net $ 15,459 $ 12,495 (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.
Schedule of Depreciation of Revenue Earning Vehicles and Lease Charges	Depreciation of revenue earning vehicles and lease charges, net includes the following: Three Months Ended Nine Months Ended (In millions) 2023 2022 2023 2022 Depreciation of revenue earning vehicles $ 483 $ 528 $ 1,337 $ 1,282 (Gain) loss on disposal of revenue earning vehicles 10 (238) (146) (956) Rents paid for vehicles leased 8 4 20 15 Depreciation of revenue earning vehicles and lease charges, net $ 501 $ 294 $ 1,211 $ 341

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Components of Debt	The Company's debt, including its available credit facilities, consists of the following ($ in millions) as of September 30, 2023 and December 31, 2022: Facility Weighted-Average Interest Rate Fixed or Maturity September 30, December 31, Non-Vehicle Debt Term B Loan 8.70% Floating 6/2028 $ 1,271 $ 1,281 Term C Loan 8.70% Floating 6/2028 245 245 Senior Notes Due 2026 4.63% Fixed 12/2026 500 500 Senior Notes Due 2029 5.00% Fixed 12/2029 1,000 1,000 First Lien RCF 8.43% Floating 6/2026 150 — Other Non-Vehicle Debt (1) 6.02% Fixed Various 4 9 Unamortized Debt Issuance Costs and Net (Discount) Premium (51) (58) Total Non-Vehicle Debt 3,119 2,977 Vehicle Debt HVF III U.S. ABS Program HVF III U.S. Vehicle Variable Funding Notes HVF III Series 2021-A Class A (2) 6.95% Floating 6/2025 1,883 2,363 HVF III Series 2021-A Class B (2) 9.44% Fixed 8/2025 188 188 2,071 2,551 HVF III U.S. Vehicle Medium Term Notes HVF III Series 2021-1 (2) 1.66% Fixed 12/2024 2,000 2,000 HVF III Series 2021-2 (2) 2.12% Fixed 12/2026 2,000 2,000 HVF III Series 2022-1 (2) 2.44% Fixed 6/2025 750 750 HVF III Series 2022-2 (2) 2.78% Fixed 6/2027 750 652 HVF III Series 2022-3 (2) 3.89% Fixed 3/2024 383 383 HVF III Series 2022-4 (2) 4.22% Fixed 9/2025 667 667 HVF III Series 2022-5 (2) 4.39% Fixed 9/2027 364 317 HVF III Series 2023-1 (2) 6.17% Fixed 6/2026 500 — HVF III Series 2023-2 (2) 6.30% Fixed 9/2028 300 — HVF III Series 2023-3 (2) 6.46% Fixed 2/2027 500 — HVF III Series 2023-4 (2) 6.66% Fixed 3/2029 500 — 8,714 6,769 Vehicle Debt - Other Repurchase Facility N/A Fixed N/A — 86 European ABS (2) 5.69% Floating 3/2026 1,260 811 Hertz Canadian Securitization (2) 6.92% Floating 6/2025 393 283 Australian Securitization (2) 5.71% Floating 6/2025 182 168 New Zealand RCF 8.44% Floating 6/2025 51 54 U.K. Financing Facility 7.85% Floating 10/2023-7/2027 188 101 U.K. Toyota Financing Facility 7.50% Floating 10/2023-5/2024 31 49 Facility Weighted-Average Interest Rate Fixed or Maturity September 30, December 31, Other Vehicle Debt 4.32% Floating 10/2023-7/2027 83 76 2,188 1,628 Unamortized Debt Issuance Costs and Net (Discount) Premium (79) (62) Total Vehicle Debt 12,894 10,886 Total Debt $ 16,013 $ 13,863 (1) Other non-vehicle debt is primarily comprised of $1 million and $6 million in finance lease obligations (2) Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness originally expect the outstanding principal of the relevant indebtedness to be repaid in full. The legal final maturity date is the date on which the outstanding principal of the relevant indebtedness is legally due and payable in full. (In millions) Aggregate Principal Amount HVF III Series 2022-2 Class D Notes $ 98 HVF III Series 2022-5 Class D Notes 47 HVF III Series 2023-1 Class D Notes 40 Total $ 185
Schedule of Facilities Available Net of Outstanding Letters of Credit	The following facilities were available to the Company as of September 30, 2023 and are presented net of any outstanding letters of credit: (In millions) Remaining Availability Under Non-Vehicle Debt First Lien RCF $ 1,103 $ 1,103 Total Non-Vehicle Debt 1,103 1,103 Vehicle Debt HVF III Series 2021-A 1,993 — European ABS — — Hertz Canadian Securitization 33 — Australian Securitization 34 — New Zealand RCF 20 — U.K. Financing Facility — — U.K. Toyota Financing Facility 20 — Total Vehicle Debt 2,100 — Total $ 3,203 $ 1,103

Leases (Tables)

Leases (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Operating Lease, Lease Income	The following table summarizes the amount of operating lease income and other income included in total revenues in the accompanying unaudited condensed consolidated statements of operations: Three Months Ended Nine Months Ended (In millions) 2023 2022 2023 2022 Operating lease income from vehicle rentals $ 2,476 $ 2,368 $ 6,549 $ 6,315 Variable operating lease income 155 58 452 159 Revenue accounted for under Topic 842 2,631 2,426 7,001 6,474 Revenue accounted for under Topic 606 72 70 186 176 Total revenues $ 2,703 $ 2,496 $ 7,187 $ 6,650

Public Warrants, Equity and E_2

Public Warrants, Equity and Earnings (Loss) Per Common Share - Hertz Global (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted earnings (loss) per common share: Three Months Ended Nine Months Ended (In millions, except per share data) (1) 2023 2022 2023 2022 Numerator: Net income (loss) available to Hertz Global common stockholders, basic $ 629 $ 577 $ 964 $ 1,943 Change in fair value of Public Warrants (328) (73) (110) (584) Net income (loss) available to Hertz Global common stockholders, diluted $ 300 $ 503 $ 853 $ 1,359 Denominator: Basic weighted-average common shares outstanding 311 355 315 395 Dilutive effect of stock options, RSUs and PSUs 2 2 1 1 Dilutive effect of Public Warrants 14 22 15 25 Diluted weighted-average shares outstanding 327 379 332 421 Antidilutive stock options, RSUs and PSUs 5 8 6 6 Total antidilutive 5 8 6 6 Earnings (loss) per common share: Basic $ 2.02 $ 1.62 $ 3.06 $ 4.92 Diluted $ 0.92 $ 1.33 $ 2.57 $ 3.22 (1) The table above is denoted in millions, excluding earnings (loss) per common share. Amounts are calculated from the underlying numbers in thousands, and as a result, may not agree to the amounts shown in the table when calculated in millions.

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Payment Arrangement, Cost by Plan	A summary of the total employee compensation expense and related income tax benefits recognized for grants made under the 2021 Omnibus Plan is as follows: Three Months Ended Nine Months Ended (In millions) 2023 2022 2023 2022 Employee compensation expense $ 21 $ 32 $ 64 $ 95 Income tax benefit 1 (2) (7) (6) Employee compensation expense, net $ 22 $ 30 $ 57 $ 89
Summary of Stock Option Activity	A summary of stock option activity for the nine months ended September 30, 2023 is presented below: Options Shares Weighted- Weighted- Aggregate Intrinsic Outstanding as of January 1, 2023 3,144,983 $ 26.17 8.2 $ — Granted — — — — Exercised — — — — Forfeited or Expired (685,400) 26.17 — — Outstanding as of September 30, 2023 2,459,583 26.17 8.0 — Exercisable as of September 30, 2023 (1,033,379) 26.17 8.0 — Non-vested as of September 30, 2023 1,426,204
Summary of PSU Activity	A summary of the PSU activity for the nine months ended September 30, 2023 is presented below: Shares Weighted- Aggregate Intrinsic Outstanding as of January 1, 2023 9,292,749 $ 17.62 $ 143 Granted (1) 529,966 17.33 — Vested — — — Forfeited or Expired (94,773) 18.47 — Outstanding as of September 30, 2023 9,727,942 17.59 119 (1) Presented assuming the issuance at the original target award amount (100%).
Summary of RSU Activity	A summary of RSU activity for the nine months ended September 30, 2023 is presented below: Shares Weighted- Aggregate Intrinsic Outstanding as of January 1, 2023 3,412,763 $ 20.82 $ 53 Granted 2,584,880 17.57 — Vested (460,694) 19.02 — Forfeited or Expired (347,012) 20.56 — Outstanding as of September 30, 2023 5,189,937 19.38 64 Additional information pertaining to RSU activity is as follows: Nine Months Ended September 30, 2023 2022 Total fair value of awards that vested (in millions) $ 9 $ 15 Weighted-average grant-date fair value of awards granted $ 17.57 $ 20.01

Financial Instruments (Tables)

Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Financial Instruments	The following table summarizes the estimated fair value of financial instruments: Fair Value of Financial Instruments Asset Derivatives (1) Liability Derivatives (1) (In millions) September 30, 2023 December 31, 2022 September 30, 2023 December 31, 2022 Interest rate instruments (2) $ 24 $ 140 $ — $ — Foreign currency forward contracts 4 1 3 2 Total $ 28 $ 141 $ 3 $ 2 (1) All asset derivatives are recorded in prepaid expenses and other assets and all liability derivatives are recorded in accrued liabilities in the accompanying unaudited condensed consolidated balance sheets.
Schedule of Derivative Instruments Included in Trading Activities	The following table summarizes the gains or (losses) on financial instruments for the period indicated: Location of Gain (Loss) Recognized on Derivatives Amount of Gain (Loss) Recognized in Income on Derivatives Three Months Ended Nine Months Ended (In millions) 2023 2022 2023 2022 Interest rate instruments Vehicle interest expense, net $ (7) $ 54 $ 4 $ 119 Foreign currency forward contracts Selling, general and administrative expense (1) 8 8 (2) 6 Total $ 1 $ 62 $ 2 $ 125 (1) For the three and nine months ended September 30, 2022, all gains (losses) on foreign currency forward contracts were recorded in other (income) expense, net.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value, Liabilities Measured on Recurring Basis	The fair value of the debt facilities is estimated based on quoted market rates as well as borrowing rates currently available to the Company for loans with similar terms and average maturities (i.e., Level 2 inputs). September 30, 2023 December 31, 2022 (In millions) Nominal Unpaid Principal Balance Aggregate Fair Value Nominal Unpaid Principal Balance Aggregate Fair Value Non-Vehicle Debt $ 3,170 $ 2,898 $ 3,035 $ 2,685 Vehicle Debt 12,973 12,388 10,948 10,304 Total $ 16,143 $ 15,286 $ 13,983 $ 12,989
Fair Value Measurements, Recurring	The following table summarizes the Company's cash equivalents, restricted cash equivalents and Public Warrants that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy as follows: September 30, 2023 December 31, 2022 (In millions) Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total Assets: Cash equivalents and restricted cash equivalents $ 376 $ — $ — $ 376 $ 443 $ — $ — $ 443 Liabilities: Public Warrants $ 506 $ — $ — $ 506 $ 617 $ — $ — $ 617

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables provide significant statement of operations and balance sheet information by reportable segment for each of Hertz Global and Hertz, as well as Adjusted EBITDA, the measure used to determine segment profitability. Three Months Ended September 30, Nine Months Ended (In millions) 2023 2022 2023 2022 Revenues Americas RAC $ 2,172 $ 2,042 $ 5,917 $ 5,573 International RAC 531 454 1,270 1,077 Total Hertz Global and Hertz $ 2,703 $ 2,496 $ 7,187 $ 6,650 Depreciation of revenue earning vehicles and lease charges, net Americas RAC $ 414 $ 252 $ 1,035 $ 220 International RAC 87 42 176 121 Total Hertz Global and Hertz $ 501 $ 294 $ 1,211 $ 341 Three Months Ended September 30, Nine Months Ended (In millions) 2023 2022 2023 2022 Adjusted EBITDA Americas RAC $ 302 $ 564 $ 894 $ 1,975 International RAC 109 150 258 269 Total reportable segments 411 714 1,152 2,244 Corporate (52) (96) (209) (248) Total Hertz Global and Hertz $ 359 $ 618 $ 943 $ 1,996 As of (In millions) September 30, 2023 December 31, 2022 Revenue earning vehicles, net Americas RAC $ 13,049 $ 10,813 International RAC 2,410 1,682 Total Hertz Global and Hertz $ 15,459 $ 12,495 Total assets Americas RAC $ 19,964 $ 17,645 International RAC 4,445 3,638 Total reportable segments 24,409 21,283 Corporate 1,145 1,214 Total Hertz Global (1) 25,554 22,497 Corporate - Hertz (1) (1) Total Hertz (1) $ 25,553 $ 22,496 (1) The consolidated total assets of Hertz Global and Hertz as of September 30, 2023 and December 31, 2022 include total assets of VIEs of $1.9 billion and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. See "Pledges Related to Vehicle Financing" in Note 5, "Debt," for further information. Reconciliations of Adjusted EBITDA by reportable segment to consolidated amounts are summarized below: Hertz Global Three Months Ended Nine Months Ended (In millions) 2023 2022 2023 2022 Adjusted EBITDA: Americas RAC $ 302 $ 564 $ 894 $ 1,975 International RAC 109 150 258 269 Total reportable segments 411 714 1,152 2,244 Corporate (1) (52) (96) (209) (248) Total Hertz Global 359 618 943 1,996 Adjustments: Non-vehicle depreciation and amortization (33) (36) (100) (105) Non-vehicle debt interest, net (63) (43) (170) (123) Vehicle debt-related charges (2) (11) (9) (31) (25) Restructuring and restructuring related charges (3) (2) (8) (10) (29) Change in fair value of Public Warrants (4) 328 73 110 584 Unrealized gains (losses) on financial instruments (5) (1) 55 (107) 120 Gain on sale of non-vehicle capital assets (6) — — 162 — Other items (7) (18) (3) (18) (96) Income (loss) before income taxes $ 559 $ 647 $ 779 $ 2,322 Hertz Three Months Ended Nine Months Ended (In millions) 2023 2022 2023 2022 Adjusted EBITDA: Americas RAC $ 302 $ 564 $ 894 $ 1,975 International RAC 109 150 258 269 Total reportable segments 411 714 1,152 2,244 Corporate (1) (52) (96) (209) (248) Total Hertz 359 618 943 1,996 Adjustments: Non-vehicle depreciation and amortization (33) (36) (100) (105) Non-vehicle debt interest, net (63) (43) (170) (123) Vehicle debt-related charges (2) (11) (9) (31) (25) Restructuring and restructuring related charges (3) (2) (8) (10) (29) Unrealized gains (losses) on financial instruments (5) (1) 55 (107) 120 Gain on sale of non-vehicle capital assets (6) — — 162 — Other items (7) (18) (3) (18) (96) Income (loss) before income taxes $ 231 $ 574 $ 669 $ 1,738 (1) Represents other reconciling items primarily consisting of general corporate expenses, non-vehicle interest expense, as well as other business activities. (2) Represents vehicle debt-related charges relating to the amortization of deferred financing costs and debt discounts and premiums. (3) Represents charges incurred under restructuring actions as defined in U.S. GAAP. Also includes restructuring related charges such as incremental costs incurred directly supporting business transformation initiatives. (4) Represents the change in fair value during the reporting period for the Company's outstanding Public Warrants. (5) Represents unrealized gains (losses) on derivative financial instruments. In 2023, also includes the realization of $88 million of previously unrealized gains resulting from the unwind of certain interest rate caps in the first quarter of 2023. See Note 10, "Financial Instruments." (6) Represents gain on sale of certain non-vehicle capital assets sold in March 2023. See Note 3, "Divestitures." (7) Represents miscellaneous items. For the three and nine months ended September 30, 2023, primarily includes certain IT-related costs, charges for certain storm-related vehicle damages and certain professional fees and charges related to the settlement of bankruptcy claims, partially offset by a loss recovery settlement. For the three and nine months ended September 30, 2022, primarily includes bankruptcy claims, certain professional fees and charges related to the settlement of bankruptcy claims and certain non-cash stock-based compensation charges recorded in the first half of the year.

Divestitures - Narrative (Detai

Divestitures - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Gain) loss on sale of non-vehicle capital assets	$ 165	$ 5
Non-vehicle Capital Assets | Americas Rental Car segment
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
(Gain) loss on sale of non-vehicle capital assets	29
Los Angeles, California Airport Location
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sale and leaseback transaction, gain (loss), net	133
Sale leaseback transaction, gross amount	143
Sale leaseback transaction, net book value	9
Sale and leaseback transaction, selling costs	$ 1
Term of lease contract	36 months

Revenue Earning Vehicles - Comp

Revenue Earning Vehicles - Components of Revenue Earning Vehicles (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Long-Lived Assets Held-for-sale [Line Items]
Revenue earning vehicles, net	$ 15,459	$ 12,495
Vehicles, Including Held-For-Sale
Long-Lived Assets Held-for-sale [Line Items]
Revenue earning vehicles	16,615	13,654
Less accumulated depreciation	(1,946)	(1,649)
Property subject to available for operating lease excluding assets held for sale	14,669	12,005
Vehicles Held For Sale
Long-Lived Assets Held-for-sale [Line Items]
Revenue earning vehicles held for sale, net	$ 790	$ 490

Revenue Earning Vehicles - Sche

Revenue Earning Vehicles - Schedule of Depreciation of Revenue Earning Vehicles and Lease Charges (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
Depreciation of revenue earning vehicles	$ 483	$ 528	$ 1,337	$ 1,282
(Gain) loss on disposal of revenue earning vehicles	10	(238)	(146)	(956)
Rents paid for vehicles leased	8	4	20	15
Depreciation of revenue earning vehicles and lease charges, net	$ 501	$ 294	$ 1,211	$ 341

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($)	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs and Net (Discount) Premium	$ (51,000,000)	$ (58,000,000)
Total Debt	$ 16,013,000,000	$ 13,863,000,000
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total Debt	Total Debt
Term B Loan | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.70%
Outstanding principal	$ 1,271,000,000	$ 1,281,000,000
Term C Loan | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.70%
Outstanding principal	$ 245,000,000	245,000,000
Senior Notes Due 2026 | Senior Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.63%
Outstanding principal	$ 500,000,000	500,000,000
Senior Notes Due 2029 | Senior Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	5%
Outstanding principal	$ 1,000,000,000	1,000,000,000
First Lien RCF | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.43%
Outstanding principal	$ 150,000,000	0
Other Non-Vehicle Debt
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.02%
Outstanding principal	$ 4,000,000	9,000,000
Finance lease liability	1,000,000	6,000,000
Vehicle Debt
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs and Net (Discount) Premium	(79,000,000)	(62,000,000)
Total Debt	12,894,000,000	10,886,000,000
HVF III U.S. Vehicle Variable Funding Notes
Debt Instrument [Line Items]
Outstanding principal	$ 2,071,000,000	2,551,000,000
HVF III Series 2021-A Class A
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.95%
Outstanding principal	$ 1,883,000,000	2,363,000,000
HVF III Series 2021-A Class B
Debt Instrument [Line Items]
Average interest rate (as a percent)	9.44%
Outstanding principal	$ 188,000,000	188,000,000
HVF III U.S. Vehicle Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal	$ 8,714,000,000	6,769,000,000
HVF III Series 2021-1 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	1.66%
Outstanding principal	$ 2,000,000,000	2,000,000,000
HVF III Series 2021-2 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.12%
Outstanding principal	$ 2,000,000,000	2,000,000,000
HVF III Series 2022-1 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.44%
Outstanding principal	$ 750,000,000	750,000,000
HVF III Series 2022-2 Class D Notes | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	2.78%
Outstanding principal	$ 750,000,000	652,000,000
HVF III Series 2022-3 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	3.89%
Outstanding principal	$ 383,000,000	383,000,000
HVF III Series 2022-4 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.22%
Outstanding principal	$ 667,000,000	667,000,000
HVF III Series 2022-5 Class D Notes | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.39%
Outstanding principal	$ 364,000,000	317,000,000
HVF III Series 2023-1 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.17%
Outstanding principal	$ 500,000,000	0
HVF III Series 2023-2 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.30%
Outstanding principal	$ 300,000,000	0
HVF III Series 2023-3 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.46%
Outstanding principal	$ 500,000,000	0
HVF III Series 2023-4 | Medium-term Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.66%
Outstanding principal	$ 500,000,000	0
Other Fleet Debt
Debt Instrument [Line Items]
Outstanding principal	2,188,000,000	1,628,000,000
Repurchase Facility
Debt Instrument [Line Items]
Outstanding principal	$ 0	86,000,000
European ABS
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.69%
Outstanding principal	$ 1,260,000,000	811,000,000
Hertz Canadian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)	6.92%
Outstanding principal	$ 393,000,000	283,000,000
Australian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)	5.71%
Outstanding principal	$ 182,000,000	168,000,000
New Zealand RCF
Debt Instrument [Line Items]
Average interest rate (as a percent)	8.44%
New Zealand RCF | Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding principal	$ 51,000,000	54,000,000
U.K. Financing Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)	7.85%
Outstanding principal	$ 188,000,000	101,000,000
U.K. Toyota Financing Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)	7.50%
Outstanding principal	$ 31,000,000	49,000,000
Other Vehicle Debt
Debt Instrument [Line Items]
Average interest rate (as a percent)	4.32%
Outstanding principal	$ 83,000,000	76,000,000
Non Vehicle Debt
Debt Instrument [Line Items]
Total Debt	$ 3,119,000,000	$ 2,977,000,000

Debt - Narrative (Details)

Debt - Narrative (Details) £ in Millions, $ in Millions, $ in Millions, $ in Millions

1 Months Ended

9 Months Ended

Aug. 31, 2023 USD ($) class

Mar. 31, 2023 USD ($) class

Sep. 30, 2023 USD ($)

Dec. 31, 2023

Dec. 01, 2023 CAD ($)

Nov. 30, 2023 CAD ($)

Nov. 01, 2023 GBP (£)

Oct. 31, 2023 GBP (£)

Aug. 31, 2023 NZD ($)

Jun. 30, 2023 USD ($)

Jun. 30, 2023 CAD ($)

Jun. 30, 2023 AUD ($)

Jun. 30, 2023 GBP (£)

Jun. 01, 2023 NZD ($)

May 31, 2023 USD ($)

May 31, 2023 NZD ($)

Feb. 28, 2023 USD ($)

Dec. 31, 2022 USD ($)

Debt Instrument [Line Items]

Number of share classes | class

4

4

Remaining capacity

$ 3,203,000,000

Total assets

[1]

25,554,000,000

$ 22,497,000,000

Liabilities

[1]

$ 22,164,000,000

19,852,000,000

Variable Interest Entity, Primary Beneficiary

Debt Instrument [Line Items]

Ownership percentage

25%

Total assets

$ 1,900,000,000

1,300,000,000

Liabilities

1,900,000,000

1,300,000,000

Medium-term Notes

Debt Instrument [Line Items]

Principal amount outstanding

185,000,000

First Lien RCF

Debt Instrument [Line Items]

Remaining capacity

$ 1,103,000,000

Maximum consolidated leverage ratio

3

3.50

3.50

3.50

3.50

3.50

First Lien RCF | Subsequent Event

Debt Instrument [Line Items]

Maximum consolidated leverage ratio

3

HVF III Series 2021-A

Debt Instrument [Line Items]

Remaining capacity

$ 1,993,000,000

HVF III Series 2021-A | Medium-term Notes

Debt Instrument [Line Items]

Long-term debt

$ 4,100,000,000

$ 3,900,000,000

HVF III Series 2021-A | Medium-term Notes | Affiliated Entity

Debt Instrument [Line Items]

Principal amount outstanding

$ 40,000,000

HVF III Series 2023-1 | Medium-term Notes

Debt Instrument [Line Items]

Principal amount outstanding

500,000,000

40,000,000

Outstanding principal

500,000,000

0

HVF III Series 2023-2 | Medium-term Notes

Debt Instrument [Line Items]

Principal amount outstanding

300,000,000

Outstanding principal

300,000,000

0

HVF III Series 2023-3 | Medium-term Notes

Debt Instrument [Line Items]

Principal amount outstanding

$ 500,000,000

Outstanding principal

500,000,000

0

HVF III Series 2023-4 | Medium-term Notes

Debt Instrument [Line Items]

Principal amount outstanding

$ 500,000,000

Outstanding principal

500,000,000

0

Repurchase Facility

Debt Instrument [Line Items]

Outstanding principal

0

86,000,000

European ABS

Debt Instrument [Line Items]

Maximum borrowing capacity

1,200,000,000

Australian Securitization

Debt Instrument [Line Items]

Outstanding principal

182,000,000

168,000,000

Remaining capacity

34,000,000

New Zealand RCF

Debt Instrument [Line Items]

Remaining capacity

20,000,000

U.K. Financing Facility

Debt Instrument [Line Items]

Remaining capacity

0

Term C Loan | Medium-term Notes

Debt Instrument [Line Items]

Outstanding principal

245,000,000

245,000,000

Remaining capacity

0

Term C Loan and First Lien Revolving Credit Facility | Medium-term Notes

Debt Instrument [Line Items]

Long-term debt

0

Revolving Credit Facility | First Lien RCF

Debt Instrument [Line Items]

Outstanding standby letters of credit

747,000,000

Revolving Credit Facility | First Lien RCF | Line of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 2,000,000,000

$ 1,900,000,000

Outstanding principal

150,000,000

0

Revolving Credit Facility | Hertz Canadian Securitization

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 475

Revolving Credit Facility | Hertz Canadian Securitization | Forecast

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 475

$ 575

Revolving Credit Facility | Australian Securitization

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 340

Revolving Credit Facility | New Zealand RCF | Line of Credit

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 120

$ 60

$ 80

Outstanding principal

51,000,000

$ 54,000,000

Revolving Credit Facility | U.K. Financing Facility

Debt Instrument [Line Items]

Maximum borrowing capacity | £

£ 135

Revolving Credit Facility | U.K. Financing Facility | Forecast

Debt Instrument [Line Items]

Maximum borrowing capacity | £

£ 135

£ 155

Letter of Credit

Debt Instrument [Line Items]

Outstanding standby letters of credit

1,000,000,000

Letter of Credit | Term C Loan

Debt Instrument [Line Items]

Outstanding standby letters of credit

$ 245,000,000

[1]Hertz Global Holdings, Inc.'s consolidated total assets as of September 30, 2023 and December 31, 2022 include total assets of variable interest entities (“VIEs”) of $1.9 billion and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of September 30, 2023 and December 31, 2022 include total liabilities of VIEs of $1.9 billion and $1.3 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Pledges Related to Vehicle Financing" in Note 5, "Debt," for further information.

Debt - Schedule of Debt Sold to

Debt - Schedule of Debt Sold to Third Parties (Details) - Medium-term Notes - USD ($)	Sep. 30, 2023	Mar. 31, 2023
Debt Instrument [Line Items]
Aggregate Principal Amount	$ 185,000,000
HVF III Series 2022-2 Class D Notes
Debt Instrument [Line Items]
Aggregate Principal Amount	98,000,000
HVF III Series 2022-5 Class D Notes
Debt Instrument [Line Items]
Aggregate Principal Amount	47,000,000
HVF III Series 2023-1 Class D Notes
Debt Instrument [Line Items]
Aggregate Principal Amount	$ 40,000,000	$ 500,000,000

Debt - Borrowing Capacity (Deta

Debt - Borrowing Capacity (Details) $ in Millions	Sep. 30, 2023 USD ($)
Debt Instrument [Line Items]
Remaining Capacity	$ 3,203
Availability Under Borrowing Base Limitation	1,103
Corporate Debt Securities
Debt Instrument [Line Items]
Remaining Capacity	1,103
Availability Under Borrowing Base Limitation	1,103
First Lien RCF
Debt Instrument [Line Items]
Remaining Capacity	1,103
Availability Under Borrowing Base Limitation	1,103
Vehicle Debt
Debt Instrument [Line Items]
Remaining Capacity	2,100
Availability Under Borrowing Base Limitation	0
HVF III Series 2021-A
Debt Instrument [Line Items]
Remaining Capacity	1,993
Availability Under Borrowing Base Limitation	0
European ABS
Debt Instrument [Line Items]
Remaining Capacity	0
Availability Under Borrowing Base Limitation	0
Hertz Canadian Securitization
Debt Instrument [Line Items]
Remaining Capacity	33
Availability Under Borrowing Base Limitation	0
Australian Securitization
Debt Instrument [Line Items]
Remaining Capacity	34
Availability Under Borrowing Base Limitation	0
New Zealand RCF
Debt Instrument [Line Items]
Remaining Capacity	20
Availability Under Borrowing Base Limitation	0
U.K. Financing Facility
Debt Instrument [Line Items]
Remaining Capacity	0
Availability Under Borrowing Base Limitation	0
U.K. Toyota Financing Facility
Debt Instrument [Line Items]
Remaining Capacity	20
Availability Under Borrowing Base Limitation	$ 0

Leases - Leases Income (Details

Leases - Leases Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Lessor, Lease, Description [Line Items]
Revenues	$ 2,631	$ 2,426	$ 7,001	$ 6,474
Variable operating lease income	155	58	452	159
Revenue accounted for under Topic 606	72	70	186	176
Revenues	2,703	2,496	7,187	6,650
Vehicle Rentals, Operating Lease
Lessor, Lease, Description [Line Items]
Revenues	$ 2,476	$ 2,368	$ 6,549	$ 6,315

Income Tax (Provision) Benefit

Income Tax (Provision) Benefit (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Feb. 09, 2023
Income Tax Contingency [Line Items]
Income tax provision (benefit)	$ 70	$ (70)	$ 185	$ (379)
Effective tax rate (as percent)	13%	11%	24%	16%
The Hertz Corporation
Income Tax Contingency [Line Items]
Income tax provision (benefit)	$ 68	$ (71)	$ 184	$ (379)
Effective tax rate (as percent)	30%	12%	27%	22%
The Hertz Corporation | Tax Year 2021
Income Tax Contingency [Line Items]
Operating loss carryforwards	$ 163		$ 163		$ 163

Public Warrants, Equity and E_3

Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		1 Months Ended	3 Months Ended	9 Months Ended		16 Months Ended	22 Months Ended
	Sep. 30, 2023	Oct. 19, 2023	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2023	Jun. 30, 2022	Nov. 30, 2021
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Warrants exercised (in shares)	6,332,099		11,756	45,860
Warrants exercised, cashless (in shares)			6,587	30,879
Warrants exercised, cash (in shares)			5,169	14,981
Exercise price of warrants (in dollars per share)	$ 13.80		$ 13.80	$ 13.80		$ 13.80	$ 13.80
Aggregate purchase price				$ 272	$ 2,152
2021 Share Repurchase Program
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Stock repurchase program, authorized amount									$ 2,000
Shares repurchased (in shares)							97,783,047
2022 Share Repurchase Program
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Stock repurchase program, authorized amount								$ 2,000
Shares repurchased (in shares)			3,022,385	15,024,640		62,327,649
Average share repurchase price (in dollars per share)			$ 16.57	$ 16.65
Aggregate purchase price			$ 50	$ 250		$ 1,100
2023 Share Repurchase Program | Subsequent Event
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Shares repurchased (in shares)		992,371
Average share repurchase price (in dollars per share)		$ 11.14
Aggregate purchase price		$ 11

Public Warrants, Equity and E_4

Public Warrants, Equity and Earnings (Loss) Per Common Share – Hertz Global (Basic and Diluted Earnings (Loss) Per Share) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Numerator:
Net income (loss) available to Hertz Global common stockholders, basic	$ 629	$ 577	$ 964	$ 1,943
Change in fair value of Public Warrants	(328)	(73)	(110)	(584)
Net income (loss) available to Hertz Global common stockholders, diluted	$ 300	$ 503	$ 853	$ 1,359
Denominator:
Basic weighted-average shares outstanding (in shares)	311	355	315	395
Dilutive effect of stock options, RSUs and PSUs (in shares)	2	2	1	1
Dilutive effect of Public Warrants (in shares)	14	22	15	25
Diluted weighted-average shares outstanding (in shares)	327	379	332	421
Antidilutive stock options, RSUs, and PSUs (in shares)	5	8	6	6
Earnings (loss) per common share:
Basic (in dollars per share)	$ 2.02	$ 1.62	$ 3.06	$ 4.92
Diluted (in dollars per share)	$ 0.92	$ 1.33	$ 2.57	$ 3.22
Antidilutive stock options, RSUs and PSUs
Denominator:
Antidilutive stock options, RSUs, and PSUs (in shares)	5	8	6	6

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock, percent	0%
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase price of common stock, percent	200%
Performance Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	2 years
Performance Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	3 years
Omnibus Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	53,045,064
Unrecognized compensation cost	$ 184
Period for recognition of total unrecognized compensation cost	2 years 1 month 6 days
Omnibus Incentive Plan 2021 | Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target award amount	100%
Shares outstanding (in shares)	9,727,942	9,292,749
Omnibus Incentive Plan 2021 | Performance Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	0
Omnibus Incentive Plan 2021 | Performance Stock Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	0
Omnibus Incentive Plan 2021 | Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	5,189,937	3,412,763
Omnibus Incentive Plan 2021 | Restricted Stock Units | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Omnibus Incentive Plan 2021 | Restricted Stock Units | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Omnibus Incentive Plan 2021 | Deferred Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares outstanding (in shares)	99,000

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary of the Total Compensation Expense and Associated Recognized Income Tax Benefits (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee compensation expense			$ 65	$ 96
Omnibus Incentive Plan 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Employee compensation expense	$ 21	$ 32	64	95
Income tax benefit	1	(2)	(7)	(6)
Employee compensation expense, net	$ 22	$ 30	$ 57	$ 89

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Stock Option Activity (Details) - Omnibus Incentive Plan 2021 - USD ($) $ / shares in Units, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Shares
Outstanding beginning balance (in shares)	3,144,983
Granted (in shares)	0
Exercised (in shares)	0
Forfeited or Expired (in shares)	(685,400)
Outstanding ending balance (in shares)	2,459,583	3,144,983
Exercisable (in shares)	(1,033,379)
Non-vested (in shares)	1,426,204
Weighted- Average Exercise Price
Outstanding beginning balance (in dollars per share)	$ 26.17
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited or Expired (in dollars per share)	26.17
Outstanding ending balance (in dollars per share)	26.17	$ 26.17
Exercisable (in dollars per share)	$ 26.17
Weighted-Average Remaining Contractual Term (years)/Aggregate intrinsic Value
Weighted average remaining contractual term	8 years	8 years 2 months 12 days
Exercisable	8 years
Aggregate intrinsic value	$ 0	$ 0
Aggregate intrinsic value, exercisable	$ 0

Stock-Based Compensation - Su_3

Stock-Based Compensation - Summary of PSU Activity (Details) - Omnibus Incentive Plan 2021 - Performance Stock Units $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2023 USD ($) $ / shares shares
Shares
Outstanding beginning balance (in shares) | shares	9,292,749
Granted (in shares) | shares	529,966
Vested (in shares) | shares	0
Forfeited or Expired (in shares) | shares	(94,773)
Outstanding ending balance (in shares) | shares	9,727,942
Weighted- Average Fair Value
Outstanding beginning balance (in dollars per share) | $ / shares	$ 17.62
Granted (in dollars per share) | $ / shares	17.33
Vested (in dollars per share) | $ / shares	0
Forfeited or Expired (In dollars per share) | $ / shares	18.47
Outstanding ending balance (in dollars per share) | $ / shares	$ 17.59
Aggregate intrinsic value, outstanding | $	$ 143
Aggregate intrinsic value, outstanding | $	$ 119
Target award amount	100%

Stock-Based Compensation - Su_4

Stock-Based Compensation - Summary of RSU Activity (Details) - Omnibus Incentive Plan 2021 - Restricted Stock Units - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Shares
Outstanding beginning balance (in shares)	3,412,763
Granted (in shares)	2,584,880
Vested (in shares)	(460,694)
Forfeited or Expired (in shares)	(347,012)
Outstanding ending balance (in shares)	5,189,937
Weighted- Average Fair Value
Outstanding beginning balance (in dollars per share)	$ 20.82
Granted (in dollars per share)	17.57	$ 20.01
Vested (in dollars per share)	19.02
Forfeited or Expired (In dollars per share)	20.56
Outstanding ending balance (in dollars per share)	$ 19.38
Aggregate intrinsic value, outstanding	$ 53
Aggregate intrinsic value, outstanding	$ 64

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Additional RSU Activity (Details) - Restricted Stock Units - Omnibus Incentive Plan 2021 - USD ($) $ / shares in Units, $ in Millions	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of awards that vested (in millions)	$ 9	$ 15
Weighted-average grant-date fair value of awards granted (in dollars per share)	$ 17.57	$ 20.01

Financial Instruments - Schedul

Financial Instruments - Schedule of Fair Value of Financial Instruments (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset derivatives	$ 28	$ 141
Liability derivatives	3	2
Interest rate instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset derivatives	24	140
Liability derivatives	0	0
Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset derivatives	4	1
Liability derivatives	$ 3	$ 2

Financial Instruments - Additio

Financial Instruments - Additional Information (Details) $ in Millions	3 Months Ended	9 Months Ended
	Mar. 31, 2023 USD ($)	Sep. 30, 2023 USD ($) instrument	Dec. 31, 2022 instrument
The Hertz Corporation
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) on sale of derivatives	$ 98
Unrealized gain (loss) on derivatives	88	$ 88
Designated as Hedging Instrument
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Derivative, number of instruments held | instrument		0	0
Interest rate instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gain (loss) on sale of interest rate caps	$ 10

Financial Instruments - Summary

Financial Instruments - Summary of Financial Instruments, Gain (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains or (losses) on financial instruments	$ 1	$ 62	$ 2	$ 125
Interest rate instruments
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains or (losses) on financial instruments	(7)	54	4	119
Foreign currency forward contracts
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Gains or (losses) on financial instruments	$ 8	$ 8	$ (2)	$ 6

Fair Value Measurements - Finan

Fair Value Measurements - Financial Instruments (Details) - Fair Value, Measurements, Recurring - Level 2 - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	$ 16,143	$ 13,983
Aggregate Fair Value	15,286	12,989
Non-vehicle
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	3,170	3,035
Aggregate Fair Value	2,898	2,685
Vehicles
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	12,973	10,948
Aggregate Fair Value	$ 12,388	$ 10,304

Fair Value Measurements - Cash

Fair Value Measurements - Cash and Cash Equivalents and Investments (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash equivalents	$ 376	$ 443
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash equivalents	376	443
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash equivalents	0	0
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents and restricted cash equivalents	0	0
Warrants
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Public Warrants	506	617
Warrants | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Public Warrants	506	617
Warrants | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Public Warrants	0	0
Warrants | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Public Warrants	$ 0	$ 0

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Change in fair value of Public Warrants	$ (328)	$ (73)	$ (110)	$ (584)

Contingencies and Off-Balance_2

Contingencies and Off-Balance Sheet Commitments (Details) $ in Millions		1 Months Ended	9 Months Ended
	Jul. 01, 2021 USD ($)	Dec. 31, 2022 USD ($) claimant	Sep. 30, 2023 USD ($)
Loss Contingencies [Line Items]
Self-insured liabilities		$ 472	$ 472
Settlement agreements, number of claimants | claimant		364
Litigation settlement		$ 168
Net proceeds from repayment or recovery, percent			15%
Pending Litigation | Wells Fargo Bank, National Association v. The Hertz Corporation | Payment of Certain Redemption Premiums And Post-Petition Interest
Loss Contingencies [Line Items]
Damages sought, value	$ 272
Pending Litigation | Wells Fargo Bank, National Association v. The Hertz Corporation | Payment of Post-Petition Interest
Loss Contingencies [Line Items]
Damages sought, value	$ 125
6.250% Senior Notes due October 2022
Loss Contingencies [Line Items]
Interest rate	6.25%
5.500% Senior Notes due October 2024
Loss Contingencies [Line Items]
Interest rate	5.50%
7.125% Senior Notes due August 2026
Loss Contingencies [Line Items]
Interest rate	7.125%
6.000% Senior Notes due January 2028
Loss Contingencies [Line Items]
Interest rate	6%

Segment Information - Narrative

Segment Information - Narrative (Details)	9 Months Ended
	Sep. 30, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Information - Reportabl

Segment Information - Reportable Segments to Consolidated (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues	$ 2,703	$ 2,496	$ 7,187	$ 6,650
Depreciation of revenue earning vehicles and lease charges, net	501	294	1,211	341
Adjusted EBITDA	359	618	943	1,996
Americas RAC
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues	2,172	2,042	5,917	5,573
Depreciation of revenue earning vehicles and lease charges, net	414	252	1,035	220
International RAC
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues	531	454	1,270	1,077
Depreciation of revenue earning vehicles and lease charges, net	87	42	176	121
Operating Segments
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA	411	714	1,152	2,244
Operating Segments | Americas RAC
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA	302	564	894	1,975
Operating Segments | International RAC
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA	109	150	258	269
Corporate And Reconciling Items
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted EBITDA	$ (52)	$ (96)	$ (209)	$ (248)

Segment Information - Total Ass

Segment Information - Total Assets (Details) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022
Revenue earning equipment
Revenue earning vehicles, net		$ 15,459	$ 12,495
Total assets	[1]	25,554	22,497
Variable Interest Entity, Primary Beneficiary
Revenue earning equipment
Total assets		1,900	1,300
The Hertz Corporation
Revenue earning equipment
Revenue earning vehicles, net		15,459	12,495
Total assets	[2]	25,553	22,496
The Hertz Corporation | Variable Interest Entity, Primary Beneficiary
Revenue earning equipment
Total assets		1,900	1,300
Americas RAC
Revenue earning equipment
Revenue earning vehicles, net		13,049	10,813
International RAC
Revenue earning equipment
Revenue earning vehicles, net		2,410	1,682
Operating Segments
Revenue earning equipment
Total assets		24,409	21,283
Operating Segments | Americas RAC
Revenue earning equipment
Total assets		19,964	17,645
Operating Segments | International RAC
Revenue earning equipment
Total assets		4,445	3,638
Corporate And Reconciling Items
Revenue earning equipment
Total assets		1,145	1,214
Corporate And Reconciling Items | The Hertz Corporation
Revenue earning equipment
Total assets		$ (1)	$ (1)
[1]Hertz Global Holdings, Inc.'s consolidated total assets as of September 30, 2023 and December 31, 2022 include total assets of variable interest entities (“VIEs”) of $1.9 billion and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of September 30, 2023 and December 31, 2022 include total liabilities of VIEs of $1.9 billion and $1.3 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Pledges Related to Vehicle Financing" in Note 5, "Debt," for further information.[2]The Hertz Corporation's consolidated total assets as of September 30, 2023 and December 31, 2022 include total assets of VIEs of $1.9 billion and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of September 30, 2023 and December 31, 2022 include total liabilities of VIEs of $1.9 billion and $1.3 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Pledges Related to Vehicle Financing" in Note 5, "Debt," for further information.

Segment Information - Pre-tax I

Segment Information - Pre-tax Income (Details) - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenue earning equipment
Adjusted EBITDA	$ 359		$ 618	$ 943	$ 1,996
Income (loss) before income taxes	559		647	779	2,322
Restructuring and restructuring related charges
Revenue earning equipment
Income (loss) before income taxes	(2)		(8)	(10)	(29)
Change in fair value of Public Warrants
Revenue earning equipment
Income (loss) before income taxes	328		73	110	584
Unrealized gains (losses) on financial instruments
Revenue earning equipment
Income (loss) before income taxes	(1)		55	(107)	120
Gain on sale of non-vehicle capital assets
Revenue earning equipment
Income (loss) before income taxes	0		0	162	0
Other items
Revenue earning equipment
Income (loss) before income taxes	(18)		(3)	(18)	(96)
Operating Segments
Revenue earning equipment
Adjusted EBITDA	411		714	1,152	2,244
Operating Segments | Americas RAC
Revenue earning equipment
Adjusted EBITDA	302		564	894	1,975
Operating Segments | International RAC
Revenue earning equipment
Adjusted EBITDA	109		150	258	269
Corporate And Reconciling Items
Revenue earning equipment
Adjusted EBITDA	(52)		(96)	(209)	(248)
The Hertz Corporation
Revenue earning equipment
Adjusted EBITDA	359		618	943	1,996
Income (loss) before income taxes	231		574	669	1,738
Unrealized gain (loss) on derivatives		$ 88		88
The Hertz Corporation | Restructuring and restructuring related charges
Revenue earning equipment
Income (loss) before income taxes	(2)		(8)	(10)	(29)
The Hertz Corporation | Unrealized gains (losses) on financial instruments
Revenue earning equipment
Income (loss) before income taxes	(1)		55	(107)	120
The Hertz Corporation | Gain on sale of non-vehicle capital assets
Revenue earning equipment
Income (loss) before income taxes	0		0	162	0
The Hertz Corporation | Other items
Revenue earning equipment
Income (loss) before income taxes	(18)		(3)	(18)	(96)
The Hertz Corporation | Operating Segments
Revenue earning equipment
Adjusted EBITDA	411		714	1,152	2,244
The Hertz Corporation | Operating Segments | Americas RAC
Revenue earning equipment
Adjusted EBITDA	302		564	894	1,975
The Hertz Corporation | Operating Segments | International RAC
Revenue earning equipment
Adjusted EBITDA	109		150	258	269
The Hertz Corporation | Corporate And Reconciling Items
Revenue earning equipment
Adjusted EBITDA	(52)		(96)	(209)	(248)
Non-vehicle | Non-vehicle deprecation and amortization
Revenue earning equipment
Income (loss) before income taxes	(33)		(36)	(100)	(105)
Non-vehicle | Non-vehicle debt interest, net
Revenue earning equipment
Income (loss) before income taxes	(63)		(43)	(170)	(123)
Non-vehicle | The Hertz Corporation | Non-vehicle deprecation and amortization
Revenue earning equipment
Income (loss) before income taxes	(33)		(36)	(100)	(105)
Non-vehicle | The Hertz Corporation | Vehicle debt-related charges
Revenue earning equipment
Income (loss) before income taxes	(63)		(43)	(170)	(123)
Vehicles | Vehicle debt-related charges
Revenue earning equipment
Income (loss) before income taxes	(11)		(9)	(31)	(25)
Vehicles | The Hertz Corporation | Vehicle debt-related charges
Revenue earning equipment
Income (loss) before income taxes	$ (11)		$ (9)	$ (31)	$ (25)