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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
shares in Millions, $ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Revenues:        
Worldwide vehicle rental $ 668 $ 2,344 $ 2,417 $ 4,297
All other operations 164 167 338 321
Total revenues 832 2,511 2,755 4,618
Expenses:        
Direct vehicle and operating 704 1,388 1,945 2,655
Depreciation of revenue earning vehicles and lease charges 610 634 1,286 1,226
Selling, general and administrative 168 258 377 490
Total interest expense, net 176 199 351 382
Write-off of intercompany loan     133 0
Other (income) expense, net 2 (12) (15) (31)
Reorganization Items 23 0 23 0
Total expenses 1,876 2,467 4,160 4,722
Income (loss) before income taxes (1,044) 44 (1,405) (104)
Income tax (provision) benefit 192 (4) 196 (3)
Net income (loss) (852) 40 (1,209) (107)
Net (income) loss attributable to noncontrolling interests 5 (2) 6 (1)
Net income (loss) attributable to Hertz $ (847) $ 38 $ (1,203) $ (108)
Weighted-average shares outstanding:        
Basic (in shares) 144 96 143 96
Diluted (in shares) 144 97 143 96
Earnings (loss) per share:        
Basic earnings (loss) per share (in dollars per share) $ (5.86) $ 0.40 $ (8.39) $ (1.13)
Diluted earnings (loss) per share (in dollars per share) $ (5.86) $ 0.40 $ (8.39) $ (1.13)
U.S. Rental Car        
Expenses:        
Impairment charge $ 193 $ 0 $ 193 $ 0
Vehicles        
Expenses:        
Total interest expense, net 132 127 250 238
Non-vehicle        
Expenses:        
Total interest expense, net 44 72 101 144
Contractual Interest 22      
The Hertz Corporation        
Revenues:        
Worldwide vehicle rental 668 2,344 2,417 4,297
All other operations 164 167 338 321
Total revenues 832 2,511 2,755 4,618
Expenses:        
Direct vehicle and operating 704 1,388 1,945 2,655
Depreciation of revenue earning vehicles and lease charges 610 634 1,286 1,226
Selling, general and administrative 168 258 377 490
Total interest expense, net 175 197 349 379
Write-off of intercompany loan (133) 0 (133) 0
Other (income) expense, net 2 (12) (15) (31)
Reorganization Items 23 0 23 0
Total expenses 2,008 2,465 4,291 4,719
Income (loss) before income taxes (1,176) 46 (1,536) (101)
Income tax (provision) benefit 219 (5) 224 (4)
Net income (loss) (957) 41 (1,312) (105)
Net (income) loss attributable to noncontrolling interests 5 (2) 6 (1)
Net income (loss) attributable to Hertz (952) 39 (1,306) (106)
The Hertz Corporation | U.S. Rental Car        
Expenses:        
Impairment charge 193 0 193 0
The Hertz Corporation | Vehicles        
Expenses:        
Total interest expense, net 132 127 250 238
The Hertz Corporation | Non-vehicle        
Expenses:        
Total interest expense, net 43 $ 70 $ 99 $ 141
Contractual Interest $ 22