Debt (Tables)

12 Months Ended

Dec. 31, 2012

Our debt consists of the following (in millions of dollars):



Facility	Average Interest Rate at December 31, 2012⁽¹⁾	Fixed or Floating Interest Rate	Maturity	December 31, 2012			December 31, 2011
Corporate Debt
Senior Term Facility	3.75%	Floating	3/2018	$	2,125.5		$	1,389.5
Senior ABL Facility	2.47%	Floating	3/2016	195.0			—
Senior Notes⁽²⁾	6.74%	Fixed	10/2018–10/2022	3,650.0			2,638.6
Promissory Notes	6.96%	Fixed	6/2012–1/2028	48.7			224.7
Convertible Senior Notes	5.25%	Fixed	6/2014	474.7			474.7
Other Corporate Debt	4.40%	Floating	Various	88.7			49.6
Unamortized Net Discount (Corporate)⁽³⁾				(37.3		)	(72.3		)
Total Corporate Debt				6,545.3			4,704.8
Fleet Debt
HVF U.S. ABS Program



Facility	Average Interest Rate at December 31, 2012⁽¹⁾	Fixed or Floating Interest Rate	Maturity	December 31, 2012		December 31, 2011
HVF U.S. Fleet Variable Funding Notes:
HVF Series 2009-1⁽⁴⁾	1.11%	Floating	3/2014	2,350.0		1,000.0
HVF Series 2010-2⁽⁴⁾	N/A	Floating	3/2013	—		170.0
HVF Series 2011-2⁽⁴⁾	N/A	Floating	4/2012	—		175.0
				2,350.0		1,345.0
HVF U.S. Fleet Medium Term Notes
HVF Series 2009-2⁽⁴⁾	5.11%	Fixed	3/2013–3/2015	1,095.9		1,384.3
HVF Series 2010-1⁽⁴⁾	3.77%	Fixed	2/2014–2/2018	749.8		749.8
HVF Series 2011-1⁽⁴⁾	2.86%	Fixed	3/2015–3/2017	598.0		598.0
				2,443.7		2,732.1
RCFC U.S. ABS Program
RCFC U.S. Fleet Variable Funding Notes
RCFC Series 2010-3 Notes⁽⁴⁾⁽⁵⁾	1.06%	Floating	12/2013	519.0		—
RCFC U.S. Fleet Medium Term Notes
RCFC Series 2011-1 Notes⁽⁴⁾⁽⁵⁾	2.81%	Fixed	2/2015	500.0		—
RCFC Series 2011-2 Notes⁽⁴⁾⁽⁵⁾	3.21%	Fixed	5/2015	400.0		—
				1,419.0		—
Donlen ABS Program
Donlen GN II Variable
Funding Notes⁽⁴⁾	1.15%	Floating	12/2013	899.3		811.2

Other Fleet Debt
U.S. Fleet Financing Facility	3.27%	Floating	9/2015	166.0		136.0
European Revolving Credit Facility	2.86%	Floating	6/2015	185.3		200.6
European Fleet Notes	8.50%	Fixed	7/2015	529.4		517.7
European Securitization⁽⁴⁾	2.48%	Floating	7/2014	242.2		256.2
Hertz-Sponsored Canadian Securitization⁽⁴⁾	2.16%	Floating	6/2013	100.5		68.3
Dollar Thrifty-Sponsored Canadian Securitization⁽⁴⁾⁽⁵⁾	2.13%	Floating	8/2014	55.3		—
Australian Securitization⁽⁴⁾	4.61%	Floating	12/2014	148.9		169.3
Brazilian Fleet Financing
Facility	13.07%	Floating	2/2013	14.0		23.1
Capitalized Leases	4.40%	Floating	Various	337.6		363.7
Unamortized (Discount)
Premium (Fleet)				12.1		(10.9		)
				1,791.3		1,724.0
Total Fleet Debt				8,903.3		6,612.3
Total Debt				$	15,448.6	$	11,317.1

_______________________________________________________________________________


(1)	As applicable, reference is to the December 31, 2012 weighted average interest rate (weighted by principal balance).


(2)	References to our "Senior Notes" include the series of Hertz's unsecured senior notes set forth in the table below. As of December 31, 2012 and December 31, 2011, the outstanding principal amount for each such series of the Senior Notes is also specified below.



	Outstanding Principal (in millions)
Senior Notes	December 31, 2012		December 31, 2011
8.875% Senior Notes due January 2014	$	—	$	162.3
7.875% Senior Notes due January 2014	—		276.3		€(213.5)
7.50% Senior Notes due October 2018	700.0		700.0
6.75% Senior Notes due April 2019	1,250.0		1,000.0
5.875% Senior Notes due October 2020	700.0		—
7.375% Senior Notes due January 2021	500.0		500.0
6.25% Senior Notes due October 2022	500.0		—
	$	3,650.0	$	2,638.6


(3)	As of December 31, 2012 and 2011, $40.6 million and $65.5 million, respectively, of the unamortized corporate discount relates to the 5.25% Convertible Senior Notes.


(4)	Maturity reference is to the "expected final maturity date" as opposed to the subsequent "legal maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness expect the relevant indebtedness to be repaid. The legal final maturity date is the date on which the relevant indebtedness is legally due and payable.


(5)	RCFC U.S. ABS Program and the Dollar Thrifty-Sponsored Canadian Securitization represent fleet debt acquired in connection with the Dollar Thrifty acquisition on November 19, 2012.

Components of maturities of debt

The aggregate amounts of maturities of debt for each of the twelve-month periods ending December 31 (in millions of dollars) are as follows:



2013	$	6,218.8	(including $5,718.7 of other short-term borrowings*)
2014	$	1,122.1
2015	$	1,894.1
2016	$	267.1
2017	$	219.2
After 2017	$	5,752.5

_______________________________________________________________________________



*	Our short-term borrowings as of December 31, 2012 include, among other items, the amounts outstanding under the Senior ABL Facility, HVF U.S. Fleet Variable Funding Notes, RCFC U.S. Fleet Variable Funding Notes, Donlen GN II Variable Funding Notes, U.S. Fleet Financing Facility, European Revolving Credit Facility, European Securitization, Hertz-Sponsored Canadian Securitization, Dollar Thrifty-Sponsored Canadian Securitization, Australian Securitization, Brazilian Fleet Financing Facility and Capitalized Leases. These amounts are reflected as short-term borrowings, regardless of the facility maturity date, as these facilities are revolving in nature and/or the outstanding borrowings have maturities of three months or less. Short-term borrowings also include the Convertible Senior Notes which became convertible on January 1, 2012 and remain as such through March 31, 2013. As of December 31, 2012, short-term borrowings had a weighted average interest rate of 2.1%.

Schedule of facilities available for the use of the company and its subsidiaries

As of December 31, 2012, the following facilities were available for the use of Hertz and its subsidiaries (in millions of dollars):



	Remaining Capacity		Availability Under Borrowing Base Limitation
Corporate Debt
Senior ABL Facility	$	1,183.7	$	1,146.0
Total Corporate Debt	1,183.7		1,146.0
Fleet Debt
HVF U.S. Fleet Variable Funding Notes	88.8		—
RCFC U.S. Fleet Variable Funding Notes	81.0		—
Donlen GN II Variable Funding Notes	105.0		—
U.S. Fleet Financing Facility	24.0		—
European Revolving Credit Facility	105.9		7.9
European Securitization	287.2		—
Hertz-Sponsored Canadian Securitization	100.5		—
Dollar Thrifty-Sponsored Canadian Securitization	95.5		—
Australian Securitization	110.5		—
Capitalized Leases	85.1		27.5
Total Fleet Debt	1,083.5		35.4
Total	$	2,267.2	$	1,181.4