Debt (Tables)

9 Months Ended

Sep. 30, 2012



Facility	Average Interest Rate at September 30, 2012⁽¹⁾	Fixed or Floating Interest Rate	Maturity	September 30, 2012			December 31, 2011
Corporate Debt
Senior Term Facility	3.75%	Floating	3/2018	$	1,379.0		$	1,389.5
Senior ABL Facility	2.47%	Floating	3/2016	410.0			—
Senior Notes⁽²⁾	7.09%	Fixed	10/2018–1/2021	2,450.0			2,638.6
Promissory Notes	6.96%	Fixed	6/2012–1/2028	48.7			224.7
Other Corporate Debt	5.05%	Floating	Various	65.7			49.6
Unamortized Net
(Discount) Premium (Corporate)				3.3			(6.9		)
Total Corporate Debt				4,356.7			4,295.5
Fleet Debt
U.S. ABS Program
U.S. Fleet Variable
Funding Notes:
Series 2009-1⁽³⁾⁽⁴⁾	1.25%	Floating	3/2013	1,900.0			1,000.0
Series 2010-2⁽³⁾	1.36%	Floating	3/2013	200.0			170.0
Series 2011-2⁽³⁾	N/A	Floating	4/2012	—			175.0
				2,100.0			1,345.0
U.S. Fleet Medium Term
Notes
Series 2009-2⁽³⁾	4.95%	Fixed	3/2013–3/2015	1,384.3			1,384.3
Series 2010-1⁽³⁾	3.77%	Fixed	2/2014–2/2018	749.8			749.8
Series 2011-1⁽³⁾	2.86%	Fixed	3/2015–3/2017	598.0			598.0
				2,732.1			2,732.1
Donlen ABS Program
Donlen GN II Variable
Funding Notes⁽⁵⁾	1.17%	Floating	12/2012	899.3			811.2
Other Fleet Debt
U.S. Fleet Financing
Facility	3.27%	Floating	9/2015	158.9			136.0
European Revolving Credit
Facility	2.72%	Floating	6/2015	393.6			200.6
European Fleet Notes	8.50%	Fixed	7/2015	514.9			517.7
European Securitization⁽³⁾	2.51%	Floating	7/2014	413.6			256.2
Canadian Securitization	2.16%	Floating	6/2013	147.1			68.3
Australian Securitization⁽³⁾⁽⁶⁾	5.02%	Floating	12/2012	162.3			169.3
Brazilian Fleet Financing
Facility	13.53%	Floating	2/2013	14.0			23.1
Capitalized Leases	4.40%	Floating	Various	407.7			363.7
Unamortized Discount
(Fleet)				(7.0		)	(10.9		)
				2,205.1			1,724.0
Total Fleet Debt				7,936.5			6,612.3
Total Debt				$	12,293.2		$	10,907.8

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Note:	For further information on the definitions and terms of our debt, see Note 4 of the Notes to our audited annual consolidated financial statements included in our Form 10-K under the caption "Item 8—Financial Statements and Supplementary Data."


(1)	As applicable, reference is to the September 30, 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 September 30, 2012 and December 31, 2011, the outstanding principal amount for each such series of the Senior Notes is also specified below.

Schedule of outstanding principal amount for each series of the Senior Notes



	Outstanding Principal (in millions)
Senior Notes	September 30, 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
7.375% Senior Notes due January 2021	500.0		500.0
6.75% Senior Notes due April 2019	1,250.0		1,000.0
	$	2,450.0	$	2,638.6


(3)	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.


(4)	In October 2012, extended to 3/2014. See Note 17—Subsequent Events.


(5)	In October 2012, extended to 12/2013. See Note 17—Subsequent Events.


(6)	In October 2012, extended to 12/2014. See Note 17—Subsequent Events.

Components of maturities of debt



2013	$	5,785.1	(including $5,136.2 of other short-term borrowings*)
2014	$	254.0
2015	$	1,769.6
2016	$	329.2
2017	$	266.0
After 2017	$	3,893.0

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*	Our short-term borrowings as of September 30, 2012 include, among other items, the amounts outstanding under the European Securitization, Australian Securitization, Senior ABL Facility, U.S. Fleet Financing Facility, U.S. Fleet Variable Funding Notes, Brazilian Fleet Financing Facility, Canadian Securitization, Capitalized Leases, European Revolving Credit Facility and the Donlen GN II Variable Funding Notes. 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. As of September 30, 2012, short-term borrowings had a weighted average interest rate of 2.1%.

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



	Remaining Capacity		Availability Under Borrowing Base Limitation
Corporate Debt
Senior ABL Facility	$	1,037.3	$	1,016.5
Total Corporate Debt	1,037.3		1,016.5
Fleet Debt
U.S. Fleet Variable Funding Notes	288.1		—
Donlen GN II Variable Funding Notes	105.8		—
U.S. Fleet Financing Facility	31.1		—
European Revolving Credit Facility	—		—
European Securitization	101.3		—
Canadian Securitization	55.8		—
Australian Securitization	97.0		1.2
Capitalized Leases	117.0		—
Total Fleet Debt	796.1		1.2
Total	$	1,833.4	$	1,017.7