XML 34 R87.htm IDEA: XBRL DOCUMENT v2.4.0.6
Guarantor and Non-Guarantor Condensed Consolidating Financial Statements (Statement of Cash Flows) (Details) (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS      
Net cash provided by (used in) operating activities $ 2,748,412 $ 2,258,521 $ 2,237,927
Cash flows from investing activities:      
Net change in restricted cash and cash equivalents (261,605) (101,766) 160,516
Revenue earning equipment expenditures (9,613,239) (9,454,311) (8,440,872)
Proceeds from disposal of revenue earning equipment 7,125,096 7,850,442 7,518,446
Property and equipment expenditures (312,786) (281,695) (179,209)
Proceeds from disposal of property and equipment 137,694 53,814 38,905
Capital contributions to subsidiaries 0 0 0
Return of capital from subsidiaries 0 0 0
Loan to Parent From Non-Guarantor 0 0 (6,173)
Acquisitions, net of cash acquired (1,905,168) (227,081) (47,571)
Proceeds from disposal of business 84,497 0 0
Purchase of short-term investments, net 0 (32,891) 3,491
Other investing activities (1,779) 586 2,726
Net cash used in investing activities (4,747,290) (2,192,902) (943,568)
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities 0 0 (258)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 2,237,280 3,062,479 2,635,713
Payment of long-term debt (952,144) (3,649,300) (2,954,233)
Short-term borrowings:      
Proceeds 438,387 460,890 490,490
Payments (1,280,143) (1,194,056) (970,949)
Proceeds (payments) under the revolving lines of credit, net 1,273,164 (57,329) 1,026,070
Distributions to noncontrolling interest 0 (23,100) (18,200)
Capital contributions received from parent 0 0 0
Loan to Parent From Non-Guarantor 0    
Payment of dividends and return of capital (25,000) (22,950) (23,000)
Proceeds from employee stock purchase plan 4,275 3,577 3,208
Loan from Hertz Global Holdings, Inc. (13,220) (984) (6,173)
Purchase of noncontrolling interest (38,000) 0 0
Payment of financing costs (49,433) (91,482) (78,151)
Net cash provided by (used in) financing activities 1,595,166 (1,512,255) 104,517
Effect of foreign exchange rate changes on cash and cash equivalents 5,739 3,838 (10,337)
Net decrease in cash and cash equivalents during the period (397,973) (1,442,798) 1,388,539
Cash and cash equivalents at beginning of period 931,208 2,374,006 985,467
Cash and cash equivalents at end of period 533,235 931,208 2,374,006
Parent
     
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS      
Net cash provided by (used in) operating activities 1,677,648 1,000,597 337,055
Cash flows from investing activities:      
Net change in restricted cash and cash equivalents 11,981 (28,570) 19,932
Revenue earning equipment expenditures (88,120) (142,134) (188,057)
Proceeds from disposal of revenue earning equipment 79,390 163,330 169,451
Property and equipment expenditures (173,053) (189,562) (92,415)
Proceeds from disposal of property and equipment 67,370 23,952 4,311
Capital contributions to subsidiaries (4,267,118) (3,549,088) (1,544,332)
Return of capital from subsidiaries 1,829,256 2,590,025 1,877,095
Loan to Parent From Non-Guarantor 0 490,273 (6,173)
Acquisitions, net of cash acquired (1,708,520) (214,384) (35)
Proceeds from disposal of business 0    
Purchase of short-term investments, net 0 (32,891) 3,183
Other investing activities 0 0 0
Net cash used in investing activities (4,248,814) (1,379,322) 249,133
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities 0 0 (258)
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 2,210,000 2,455,309 1,209,866
Payment of long-term debt (650,407) (3,596,295) (73,342)
Short-term borrowings:      
Proceeds 0 0 0
Payments (26,775) (29,224) (2,615)
Proceeds (payments) under the revolving lines of credit, net 220,000 (29,128) (18,907)
Distributions to noncontrolling interest   0 0
Capital contributions received from parent 0 0 0
Loan to Parent From Non-Guarantor 385,108 490,273 0
Payment of dividends and return of capital (25,000) (22,950) (23,000)
Proceeds from employee stock purchase plan 4,275 3,577 3,208
Loan from Hertz Global Holdings, Inc. (13,220) (984) (6,173)
Purchase of noncontrolling interest (38,000) 0 0
Payment of financing costs (35,215) (81,229) (29,111)
Net cash provided by (used in) financing activities 2,030,766 (810,651) 1,059,668
Effect of foreign exchange rate changes on cash and cash equivalents 0 0 0
Net decrease in cash and cash equivalents during the period (540,400) (1,189,376) 1,645,856
Cash and cash equivalents at beginning of period 565,002 1,754,378 108,522
Cash and cash equivalents at end of period 24,602 565,002 1,754,378
Guarantor Subsidiaries
     
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS      
Net cash provided by (used in) operating activities 690,292 773,170 88,941
Cash flows from investing activities:      
Net change in restricted cash and cash equivalents 13,596 (2,662) (17,514)
Revenue earning equipment expenditures (763,610) (670,056) (96,452)
Proceeds from disposal of revenue earning equipment 276,342 170,522 75,139
Property and equipment expenditures (32,022) (29,696) (14,137)
Proceeds from disposal of property and equipment 11,839 9,263 10,416
Capital contributions to subsidiaries 0 0 0
Return of capital from subsidiaries 0 0 0
Loan to Parent From Non-Guarantor 0 0 0
Acquisitions, net of cash acquired (196,648) (2,100) (43,789)
Proceeds from disposal of business 0    
Purchase of short-term investments, net   0 94
Other investing activities 0 (13,602) 0
Net cash used in investing activities (690,503) (538,331) (86,243)
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities     0
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 0 0 0
Payment of long-term debt (18) (17) (68)
Short-term borrowings:      
Proceeds 0 0 0
Payments 0 0 0
Proceeds (payments) under the revolving lines of credit, net (1,262) (229,778) (3,515)
Distributions to noncontrolling interest   0 0
Capital contributions received from parent 0 0 0
Loan to Parent From Non-Guarantor 0    
Payment of dividends and return of capital 0 0 0
Proceeds from employee stock purchase plan 0 0 0
Loan from Hertz Global Holdings, Inc. 0 0  
Purchase of noncontrolling interest 0    
Payment of financing costs (3,316) (2,817) 0
Net cash provided by (used in) financing activities (4,596) (232,612) (3,583)
Effect of foreign exchange rate changes on cash and cash equivalents 0 0 0
Net decrease in cash and cash equivalents during the period (4,807) 2,227 (885)
Cash and cash equivalents at beginning of period 7,385 5,158 6,043
Cash and cash equivalents at end of period 2,578 7,385 5,158
Non-Guarantor Subsidiaries
     
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS      
Net cash provided by (used in) operating activities 1,155,789 1,038,124 2,193,486
Cash flows from investing activities:      
Net change in restricted cash and cash equivalents (287,182) (70,534) 158,098
Revenue earning equipment expenditures (8,761,509) (8,642,121) (8,156,363)
Proceeds from disposal of revenue earning equipment 6,769,364 7,516,590 7,273,856
Property and equipment expenditures (107,711) (62,437) (72,657)
Proceeds from disposal of property and equipment 58,485 20,599 24,178
Capital contributions to subsidiaries 0 0 0
Return of capital from subsidiaries 0 0 0
Loan to Parent From Non-Guarantor (385,108) 0 0
Acquisitions, net of cash acquired 0 (10,597) (3,747)
Proceeds from disposal of business 84,497    
Purchase of short-term investments, net   0 214
Other investing activities (1,779) 14,188 2,726
Net cash used in investing activities (2,630,943) (1,724,585) (773,695)
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities     0
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 27,280 607,170 1,425,847
Payment of long-term debt (301,719) (52,988) (2,880,823)
Short-term borrowings:      
Proceeds 438,387 460,890 490,490
Payments (1,253,368) (1,164,832) (968,334)
Proceeds (payments) under the revolving lines of credit, net 1,054,426 201,577 1,048,492
Distributions to noncontrolling interest   (23,100) (18,200)
Capital contributions received from parent 4,267,118 3,549,088 1,544,332
Loan to Parent From Non-Guarantor 0 (490,273)  
Payment of dividends and return of capital (2,604,573) (3,143,395) (2,258,650)
Proceeds from employee stock purchase plan 0 0 0
Loan from Hertz Global Holdings, Inc. 0 0  
Purchase of noncontrolling interest 0    
Payment of financing costs (10,902) (7,436) (49,040)
Net cash provided by (used in) financing activities 1,616,649 426,974 (1,665,886)
Effect of foreign exchange rate changes on cash and cash equivalents 5,739 3,838 (10,337)
Net decrease in cash and cash equivalents during the period 147,234 (255,649) (256,432)
Cash and cash equivalents at beginning of period 358,821 614,470 870,902
Cash and cash equivalents at end of period 506,055 358,821 614,470
Eliminations
     
CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS      
Net cash provided by (used in) operating activities (775,317) (553,370) (381,555)
Cash flows from investing activities:      
Net change in restricted cash and cash equivalents 0 0 0
Revenue earning equipment expenditures 0 0 0
Proceeds from disposal of revenue earning equipment 0 0 0
Property and equipment expenditures 0 0 0
Proceeds from disposal of property and equipment 0 0 0
Capital contributions to subsidiaries 4,267,118 3,549,088 1,544,332
Return of capital from subsidiaries (1,829,256) (2,590,025) (1,877,095)
Loan to Parent From Non-Guarantor 385,108 (490,273) 0
Acquisitions, net of cash acquired 0 0 0
Proceeds from disposal of business 0    
Purchase of short-term investments, net   0 0
Other investing activities 0 0 0
Net cash used in investing activities 2,822,970 1,449,336 (332,763)
Excess Tax Benefit (Tax Deficiency) from Share-based Compensation, Financing Activities     0
Cash flows from financing activities:      
Proceeds from issuance of long-term debt 0 0 0
Payment of long-term debt 0 0 0
Short-term borrowings:      
Proceeds 0 0 0
Payments 0 0 0
Proceeds (payments) under the revolving lines of credit, net 0 0 0
Distributions to noncontrolling interest   0 0
Capital contributions received from parent (4,267,118) (3,549,088) (1,544,332)
Loan to Parent From Non-Guarantor (385,108) 490,273  
Payment of dividends and return of capital 2,604,573 3,143,395 2,258,650
Proceeds from employee stock purchase plan 0 0 0
Loan from Hertz Global Holdings, Inc. 0 0  
Purchase of noncontrolling interest 0    
Payment of financing costs 0 0 0
Net cash provided by (used in) financing activities (2,047,653) (895,966) 714,318
Effect of foreign exchange rate changes on cash and cash equivalents 0 0 0
Net decrease in cash and cash equivalents during the period 0 0 0
Cash and cash equivalents at beginning of period 0 0 0
Cash and cash equivalents at end of period $ 0 $ 0 $ 0