2.4.0.811180 - Disclosure - Subsequent Eventstruefalsefalse1falsefalsefalseD2013Q1http://www.sec.gov/CIK0000047129duration2013-01-01T00:00:002013-03-31T00:00:002falsefalsefalseD2012Q4YTDhttp://www.sec.gov/CIK0000047129duration2012-01-01T00:00:002012-12-31T00:00:001true1us-gaap_SubsequentEventsAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalse2falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse02false2us-gaap_SubsequentEventsTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseterseLabel1falsefalsefalse00<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Subsequent Events</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In April 2013, Hertz entered into an Amendment No. 2, or "Amendment No. 2," to the Senior Term Facility, primarily to reduce the interest rate applicable to a portion of the outstanding term loans under the Senior Term Facility. Prior to Amendment No. 2, approximately </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$1,372.0 million</font><font style="font-family:Arial;font-size:10pt;"> of tranche B term loans, or “Tranche B Term Loans”, under the Senior Term Facility bore interest at a floating rate measured by reference to, at Hertz's option, either (i) an adjusted London inter-bank offered rate not less than </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">1.00</font><font style="font-family:Arial;font-size:10pt;"> percent plus a borrowing margin of </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">2.75</font><font style="font-family:Arial;font-size:10pt;"> percent per annum or (ii) an alternate base rate plus a borrowing margin of </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">1.75</font><font style="font-family:Arial;font-size:10pt;"> percent per annum. Pursuant to Amendment No. 2, certain of the existing lenders under the Senior Term Facility converted their existing Tranche B Term Loans into a new tranche of tranche B-2 term loans, or the “Tranche B-2 Term Loans”, in an aggregate principal amount, along with new loans advanced by certain new lenders, of approximately </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$1,372.0 million</font><font style="font-family:Arial;font-size:10pt;">. The proceeds of Tranche B-2 Term Loans advanced by the new lenders were used to prepay in full all of the Tranche B Term Loans that were not converted into Tranche B-2 Term Loans.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The Tranche B-2 Term Loans bear interest at a floating rate measured by reference to, at Hertz's option, either (i) an adjusted London inter-bank offered rate not less than </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">0.75</font><font style="font-family:Arial;font-size:10pt;"> percent plus a borrowing margin of </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">2.25</font><font style="font-family:Arial;font-size:10pt;"> percent per annum or (ii) an alternate base rate plus a borrowing margin of </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">1.25</font><font style="font-family:Arial;font-size:10pt;"> percent per annum. The terms and conditions of the new Tranche B-2 Term Loans with respect to maturity, collateral, and covenants are otherwise unchanged compared to the Tranche B Term Loans. </font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">On April 15, 2013, Hertz entered into definitive agreements with China Auto Rental Holdings, Inc., or “China Auto,” and related parties pursuant to which Hertz made a strategic investment in China Auto. China Auto is the largest car rental company in China. Pursuant to the transaction, Hertz invested cash and certain of its assets in China and received common stock and convertible notes in return. Upon the closing of the transaction which occurred on April 30, 2013, Hertz owns </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">10%</font><font style="font-family:Arial;font-size:10pt;"> of China Auto's ordinary shares and has a seat on China Auto's Board. Upon conversion of the notes, Hertz would have </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">18.64%</font><font style="font-family:Arial;font-size:10pt;"> on a fully diluted basis. This transaction will be accounted for under the equity method of accounting in accordance with GAAP.</font></div></div>falsefalsefalse2falsefalsefalse00<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-bottom:10px;padding-top:10px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Subsequent Events</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">On January 23, 2013, Hertz Vehicle Financing LLC, or ‘‘HVF,’’ an insolvency remote, direct, wholly-owned, special purpose subsidiary of Hertz, completed the issuance of </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$950.0 million</font><font style="font-family:Arial;font-size:10pt;"> in aggregate principal amount of three year and five year Series 2013-1 Rental Car Asset Backed Notes, Class A and Class B. The </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$282.75 million</font><font style="font-family:Arial;font-size:10pt;"> of three year Class A notes carry a </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">1.12%</font><font style="font-family:Arial;font-size:10pt;"> coupon, the </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$42.25 million</font><font style="font-family:Arial;font-size:10pt;"> of three year Class B notes carry a </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">1.86%</font><font style="font-family:Arial;font-size:10pt;"> coupon, the </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$543.75 million</font><font style="font-family:Arial;font-size:10pt;"> of five year Class A notes carry a </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">1.83%</font><font style="font-family:Arial;font-size:10pt;"> coupon, and the </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">$81.25 million</font><font style="font-family:Arial;font-size:10pt;"> of five year Class B notes carry a </font><font style="font-family:Arial;font-size:10pt;color:#000000;text-decoration:none;">2.48%</font><font style="font-family:Arial;font-size:10pt;"> coupon. The three year notes and five year notes have expected final payment dates in August 2016 and August 2018, respectively. The Class B notes are subordinated to the Class A notes. </font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">The net proceeds from the sale of the notes will be, to the extent permitted by the applicable agreements, (i) used to pay the purchase price of vehicles acquired by HVF pursuant to HVF's U.S. ABS Program (as defined herein), (ii) used to pay the principal amount of other HVF U.S. ABS Program indebtedness that is then permitted or required to be paid or (iii) released to HVF to be distributed to Hertz or otherwise used by HVF for general purposes.</font></div><div style="line-height:120%;padding-bottom:8px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In February 2013, Hertz caused its Brazilian operating subsidiary to amend the Brazilian Fleet Financing Facility to extend the maturity date from February 2013 to October 2013.</font></div></div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.No definition available.false0falseSubsequent EventsUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.hertz.com/role/DisclosureSubsequentEventsQuarterEnd22