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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
3 Months Ended
Mar. 31, 2016
Mar. 31, 2015
Cash flows from operating activities:    
Net income (loss) $ (49) $ (70)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:    
Depreciation of revenue earning equipment, net 691 689
Depreciation and amortization, non-fleet 77 86
Amortization and write-off of deferred financing costs 14 15
Amortization and write-off of debt discount (premium) 1 1
Stock-based compensation charges 6 4
Provision for receivables allowance 23 6
Deferred taxes on income (10) (16)
Impairment charges and asset write-downs 0 20
(Gain) loss on sale of shares in equity method investment (75) 0
Other (6) (5)
Changes in assets and liabilities    
Receivables (49) (13)
Inventories, prepaid expenses and other assets (17) (65)
Accounts payable (7) 18
Accrued liabilities (19) 92
Accrued taxes (6) 21
Public liability and property damage 6 0
Net cash provided by (used in) operating activities 580 783
Cash flows from investing activities:    
Net change in restricted cash and cash equivalents (2) 154
Revenue earning equipment expenditures (3,627) (3,438)
Proceeds from disposal of revenue earning equipment 3,010 2,289
Capital asset expenditures, non-fleet (53) (97)
Proceeds from disposal of property and other equipment 22 22
Acquisitions, net of cash acquired 0 (96)
Sales of shares in equity method investment 233 0
Advances to Hertz Global Holdings, Inc. 0 (5)
Net cash provided by (used in) investing activities (417) (1,171)
Cash flows from financing activities:    
Proceeds from issuance of long-term debt 1,000 0
Repayments of long-term debt (185) (1,027)
Short-term borrowings:    
Proceeds 151 175
Payments (132) (142)
Proceeds under the revolving lines of credit 1,663 3,326
Payments under the revolving lines of credit (2,296) (1,828)
Payment of financing costs (10) (1)
Repayments from Hertz Global Holdings, Inc. 11 0
Net cash provided by (used in) financing activities 202 503
Effect of foreign exchange rate changes on cash and cash equivalents 12 (20)
Net increase (decrease) in cash and cash equivalents during the period 377 95
Cash and cash equivalents at beginning of period 479 490
Cash and cash equivalents at end of period 856 585
Cash paid during the period for:    
Interest 102 97
Income taxes, net of refunds 16 3
Supplemental disclosures of non-cash information:    
Purchases of revenue earning equipment included in accounts payable and accrued liabilities 636 633
Sales of revenue earning equipment included in receivables 471 293
Purchases of property and other equipment included in accounts payable 20 71
Sales of property and other equipment included in receivables $ 13 $ 24