Category: Press Release

  • Hertz Global Holdings Announces Pricing Of Euro 425 Million Private Offering Of Senior Notes By Hertz Holdings Netherlands B.V.

    Hertz Global Holdings Announces Pricing Of Euro 425 Million Private Offering Of Senior Notes By Hertz Holdings Netherlands B.V.

    PARK RIDGE, N.J., Nov. 13, 2013 /PRNewswire/ — Hertz Global Holdings, Inc. (NYSE: HTZ) (the "Company") announced today that its wholly-owned subsidiary Hertz Holdings Netherlands B.V., a private company with limited liability incorporated under the laws of the Netherlands (the "Issuer"), has entered into an agreement to sell €425 million aggregate principal amount of its 4.375% Senior Notes due 2019 (the "Notes") in a private offering (the "Offering") exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The Offering is expected to close on or about November 20, 2013, subject to customary closing conditions.

    (Logo: http://photos.prnewswire.com/prnh/20130620/NY35609LOGO )

    The Notes will pay interest semi-annually in arrears. The Notes will be guaranteed on a senior unsecured basis by the Company’s wholly-owned subsidiary, The Hertz Corporation ("Hertz"), the domestic subsidiaries of Hertz that guarantee its senior credit facilities from time to time, and certain of the foreign subsidiaries of Hertz that guarantee its European revolving credit facility from time to time.

    The Issuer intends to use the net proceeds from the issuance of the Notes to redeem all of its outstanding 8.50% Senior Secured Notes due July 2015.

    This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes (and the guarantees of the Notes) or any other securities, nor will there be any sale of the Notes (or any guarantees of the Notes) or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The Notes (and the guarantees of the Notes) will be issued in reliance on the exemption from the registration requirements provided by Rule 144A under the Securities Act and, outside of the United States, only to non-U.S. investors pursuant to Regulation S under the Securities Act. None of the Notes and such guarantees have been registered under the Securities Act or any state or other jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state and other jurisdiction’s securities laws.

    ABOUT THE COMPANY

    Hertz is the largest worldwide airport general use car rental brand, operating from approximately 11,200 corporate and licensee locations in approximately 150 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest airport general use car rental brand, operating from approximately 9,770 corporate and licensee locations in approximately 150 countries. Our Dollar and Thrifty brands have approximately 1,410 corporate and franchise locations in approximately 80 countries. Hertz is the number one airport car rental brand in the United States and at approximately 130 major airports in Europe. Our Hertz brand name is one of the most recognized in the world, signifying leadership in quality rental services and products. We are one of the only car rental companies that has an extensive network of company‑operated rental locations both in the United States and in all major European markets. We believe that we also maintain the second largest market share, by overall reported revenues, in the off-airport car rental market in the United States. We own a leading North American equipment rental business, Hertz Equipment Rental Corporation, which includes Hertz Entertainment Services. In our equipment rental business segment, we rent equipment through approximately 340 branches in the United States, Canada, France, Spain, China and Saudi Arabia, as well as through our international licensees. We and our predecessors have been in the car rental business since 1918 and in the equipment rental business since 1965. We own Donlen Corporation, which is a leader in providing vehicle leasing and fleet management services and we also operate the Hertz On Demand car sharing business.

    CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

    Certain statements contained in this press release include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning our liquidity, outlook, anticipated revenues and possible or assumed future results of operations, including descriptions of our business strategy, as well as any other statement that does not directly relate to any historical or current fact. These forward-looking statements often include words such as "believe," "expect," "project," "anticipate," "intend," "plan," "estimate," "seek," "will," "may," "would," "should," "could," "forecasts" or similar expressions. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors that the Company believes are appropriate in these circumstances. We believe these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties and assumptions. Many factors could affect our actual financial and operating results and could cause actual results to differ materially from those expressed in the forward-looking statements, due to a variety of important factors, both positive and negative.

    Among other items, such factors could include: the effect of the debt markets on the Offering; the Issuer’s ability to satisfy the closing conditions to the Offering; our ability to integrate the car rental operations of Dollar Thrifty Automotive Group, Inc. ("Dollar Thrifty") and realize operational efficiencies from the acquisition; the risk that expected synergies and cost savings from the Dollar Thrifty acquisition may not be fully realized or realized within the expected time frame; the operational and profitability impact of divestitures that we agreed to undertake to secure regulatory approval for the acquisition of Dollar Thrifty; levels of travel demand, particularly with respect to airline passenger traffic in the United States and in global markets; our ability to collect amounts owed by Simply Wheelz, LLC and uncertainty of our future commercial arrangements with Franchise Services of North America Inc. and its subsidiary Simply Wheelz, LLC; the impact of pending and future U.S. governmental action to address budget deficits through reductions in spending and similar austerity measures, which could materially adversely affect unemployment rates and consumer spending levels; significant changes in the competitive environment, including as a result of industry consolidation, and the effect of competition in our markets, including on our pricing policies or use of incentives; occurrences that disrupt rental activity during our peak periods; our ability to achieve cost savings and efficiencies and realize opportunities to increase productivity and profitability; an increase in our fleet costs as a result of an increase in the cost of new vehicles and/or a decrease in the price at which we dispose of used vehicles either in the used vehicle market or under repurchase or guaranteed depreciation programs; our ability to accurately estimate future levels of rental activity and adjust the size and mix of our fleet accordingly; our ability to maintain sufficient liquidity and the availability to us of additional or continued sources of financing for our revenue earning equipment and to refinance our existing indebtedness; safety recalls by the manufacturers of our vehicles and equipment; a major disruption in our communication or centralized information networks; financial instability of the manufacturers of our vehicles and equipment; any impact on us from the actions of our licensees, franchisees, dealers and independent contractors; our ability to maintain profitability during adverse economic cycles and unfavorable external events (including war, terrorist acts, natural disasters and epidemic disease); shortages of fuel and increases or volatility in fuel costs; our ability to successfully integrate acquisitions and complete dispositions; our ability to maintain favorable brand recognition; costs and risks associated with litigation; risks related to our indebtedness, including our substantial amount of debt, our ability to incur substantially more debt and increases in interest rates or in our borrowing margins; our ability to meet the financial and other covenants contained in our senior credit facilities, our outstanding unsecured senior notes and certain asset-backed and asset-based arrangements; changes in accounting principles, or their application or interpretation, and our ability to make accurate estimates and the assumptions underlying the estimates, which could have an effect on earnings; changes in the existing, or the adoption of new laws, regulations, policies or other activities of governments, agencies and similar organizations where such actions may affect our operations, the cost thereof or applicable tax rates; changes to our senior management team; the effect of tangible and intangible asset impairment charges; the impact of our derivative instruments, which can be affected by fluctuations in interest rates and commodity prices; and our exposure to fluctuations in foreign exchange rates. Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

    The Company therefore cautions you against relying on these forward-looking statements. All forward-looking statements attributable to the Company or persons acting on the Company’s behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

    SOURCE The Hertz Corporation

  • Hertz Global Holdings Announces Proposed Euro 425 Million Private Offering Of Senior Notes By Hertz Holdings Netherlands B.V.

    Hertz Global Holdings Announces Proposed Euro 425 Million Private Offering Of Senior Notes By Hertz Holdings Netherlands B.V.

    PARK RIDGE, N.J., Nov. 12, 2013 /PRNewswire/ — Hertz Global Holdings, Inc. (NYSE: HTZ) (the "Company") announced today that its wholly-owned subsidiary Hertz Holdings Netherlands B.V., a private company with limited liability incorporated under the laws of the Netherlands (the "Issuer"), intends to offer €425 million aggregate principal amount of senior notes (the "Notes") in a private offering (the "Offering") exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"), subject to market and other conditions.

    (Logo: http://photos.prnewswire.com/prnh/20130620/NY35609LOGO)

    The Notes will pay interest semi-annually in arrears. The Notes are expected to be guaranteed on a senior unsecured basis by the Company’s wholly-owned subsidiary, The Hertz Corporation ("Hertz"), the domestic subsidiaries of Hertz that guarantee its senior credit facilities from time to time, and certain of the foreign subsidiaries of Hertz that guarantee its European revolving credit facility from time to time.

    The Issuer intends to use the net proceeds from the issuance of the Notes to redeem all of its outstanding 8.50% Senior Secured Notes due July 2015.

    This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the Notes (and the guarantees of the Notes) or any other securities, nor will there be any sale of the Notes (or any guarantees of the Notes) or any other securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or other jurisdiction. The Notes (and the guarantees of the Notes) will be issued in reliance on the exemption from the registration requirements provided by Rule 144A under the Securities Act and, outside of the United States, only to non-U.S. investors pursuant to Regulation S under the Securities Act. None of the Notes and such guarantees have been registered under the Securities Act or any state or other jurisdiction’s securities laws, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state and other jurisdiction’s securities laws.

    ABOUT THE COMPANY

    Hertz is the largest worldwide airport general use car rental brand, operating from approximately 11,200 corporate and licensee locations in approximately 150 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest airport general use car rental brand, operating from approximately 9,770 corporate and licensee locations in approximately 150 countries. Our Dollar and Thrifty brands have approximately 1,410 corporate and franchise locations in approximately 80 countries. Hertz is the number one airport car rental brand in the United States and at approximately 130 major airports in Europe. Our Hertz brand name is one of the most recognized in the world, signifying leadership in quality rental services and products. We are one of the only car rental companies that has an extensive network of company‑operated rental locations both in the United States and in all major European markets. We believe that we also maintain the second largest market share, by overall reported revenues, in the off-airport car rental market in the United States. We own a leading North American equipment rental business, Hertz Equipment Rental Corporation, which includes Hertz Entertainment Services. In our equipment rental business segment, we rent equipment through approximately 340 branches in the United States, Canada, France, Spain, China and Saudi Arabia, as well as through our international licensees. We and our predecessors have been in the car rental business since 1918 and in the equipment rental business since 1965. We own Donlen Corporation, which is a leader in providing vehicle leasing and fleet management services and we also operate the Hertz On Demand car sharing business.

    CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

    Certain statements contained in this press release include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning our liquidity, outlook, anticipated revenues and possible or assumed future results of operations, including descriptions of our business strategy, as well as any other statement that does not directly relate to any historical or current fact. These forward-looking statements often include words such as "believe," "expect," "project," "anticipate," "intend," "plan," "estimate," "seek," "will," "may," "would," "should," "could," "forecasts" or similar expressions. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors that the Company believes are appropriate in these circumstances. We believe these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results. They involve risks, uncertainties and assumptions. Many factors could affect our actual financial and operating results and could cause actual results to differ materially from those expressed in the forward-looking statements, due to a variety of important factors, both positive and negative.

    Among other items, such factors could include: the effect of the debt markets on the Offering; the ability of the Issuer to price the Offering on the terms and within the timeframe anticipated by the Issuer; the Issuer’s ability to satisfy the closing conditions to the Offering; our ability to integrate the car rental operations of Dollar Thrifty Automotive Group, Inc. ("Dollar Thrifty") and realize operational efficiencies from the acquisition; the risk that expected synergies and cost savings from the Dollar Thrifty acquisition may not be fully realized or realized within the expected time frame; the operational and profitability impact of divestitures that we agreed to undertake to secure regulatory approval for the acquisition of Dollar Thrifty; levels of travel demand, particularly with respect to airline passenger traffic in the United States and in global markets; our ability to collect amounts owed by Simply Wheelz, LLC and uncertainty of our future commercial arrangements with Franchise Services of North America Inc. and its subsidiary Simply Wheelz, LLC; the impact of pending and future U.S. governmental action to address budget deficits through reductions in spending and similar austerity measures, which could materially adversely affect unemployment rates and consumer spending levels; significant changes in the competitive environment, including as a result of industry consolidation, and the effect of competition in our markets, including on our pricing policies or use of incentives; occurrences that disrupt rental activity during our peak periods; our ability to achieve cost savings and efficiencies and realize opportunities to increase productivity and profitability; an increase in our fleet costs as a result of an increase in the cost of new vehicles and/or a decrease in the price at which we dispose of used vehicles either in the used vehicle market or under repurchase or guaranteed depreciation programs; our ability to accurately estimate future levels of rental activity and adjust the size and mix of our fleet accordingly; our ability to maintain sufficient liquidity and the availability to us of additional or continued sources of financing for our revenue earning equipment and to refinance our existing indebtedness; safety recalls by the manufacturers of our vehicles and equipment; a major disruption in our communication or centralized information networks; financial instability of the manufacturers of our vehicles and equipment; any impact on us from the actions of our licensees, franchisees, dealers and independent contractors; our ability to maintain profitability during adverse economic cycles and unfavorable external events (including war, terrorist acts, natural disasters and epidemic disease); shortages of fuel and increases or volatility in fuel costs; our ability to successfully integrate acquisitions and complete dispositions; our ability to maintain favorable brand recognition; costs and risks associated with litigation; risks related to our indebtedness, including our substantial amount of debt, our ability to incur substantially more debt and increases in interest rates or in our borrowing margins; our ability to meet the financial and other covenants contained in our senior credit facilities, our outstanding unsecured senior notes and certain asset-backed and asset-based arrangements; changes in accounting principles, or their application or interpretation, and our ability to make accurate estimates and the assumptions underlying the estimates, which could have an effect on earnings; changes in the existing, or the adoption of new laws, regulations, policies or other activities of governments, agencies and similar organizations where such actions may affect our operations, the cost thereof or applicable tax rates; changes to our senior management team; the effect of tangible and intangible asset impairment charges; the impact of our derivative instruments, which can be affected by fluctuations in interest rates and commodity prices; and our exposure to fluctuations in foreign exchange rates. Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

    The Company therefore cautions you against relying on these forward-looking statements. All forward-looking statements attributable to the Company or persons acting on the Company’s behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

    SOURCE The Hertz Corporation

  • Hertz Reports Strong Third Quarter 2013 Nine Consecutive Quarters of Record Adjusted Pre-Tax Income – Record third quarter worldwide revenues of $3,069.4 million, record adjusted pre-tax income of $519.5 million, and record adjusted diluted earnings per share of $0.73, and up 22.0%, 22.3%, and 15.9% YOY, respectively. – Third quarter GAAP pre-tax income of $328.3 million and GAAP diluted earnings per share of $0.47, compared with $368.9 million and $0.55 per share, respectively, in the prior year period. – U.S. car rental third quarter total RPD(1) increase of 2.0% YOY. – Company authorized to purchase up to $300 million of Hertz (HTZ) common stock.

    Hertz Reports Strong Third Quarter 2013 Nine Consecutive Quarters of Record Adjusted Pre-Tax Income – Record third quarter worldwide revenues of $3,069.4 million, record adjusted pre-tax income of $519.5 million, and record adjusted diluted earnings per share of $0.73, and up 22.0%, 22.3%, and 15.9% YOY, respectively. – Third quarter GAAP pre-tax income of $328.3 million and GAAP diluted earnings per share of $0.47, compared with $368.9 million and $0.55 per share, respectively, in the prior year period. – U.S. car rental third quarter total RPD(1) increase of 2.0% YOY. – Company authorized to purchase up to $300 million of Hertz (HTZ) common stock.

    PARK RIDGE, N.J., Nov. 4, 2013 /PRNewswire/ — Hertz Global Holdings, Inc. (NYSE: HTZ) (with its subsidiaries, the "Company" or "we") reported third quarter 2013 worldwide revenues of $3.1 billion, an increase of 22.0% year-over-year. U.S. car rental revenues for the quarter increased 32.6% year-over-year to $1,765.5 million, primarily due to Dollar Thrifty, which was acquired on November 19, 2012, partially offset by the divestiture of Advantage. International car rental revenues for the quarter increased 9.7% year-over-year to $768.6 million. Revenues from worldwide equipment rental for the third quarter were $401.8 million, up 10.7% year-over-year.

    (Logo: http://photos.prnewswire.com/prnh/20130620/NY35609LOGO)

    Third quarter 2013 adjusted pre-tax income was $519.5 million, versus adjusted pre-tax income of $424.8 million in the same period in 2012, and pre-tax income, on a GAAP basis, was $328.3 million versus $368.9 million in the third quarter of 2012. Corporate EBITDA for the third quarter of 2013 was $740.8 million, an increase of 22.0% from the same period in 2012.

    Third quarter 2013 adjusted net income(1) was $337.7 million, versus $280.3 million in the same period of 2012, resulting in adjusted diluted earnings per share for the quarter of $0.73, compared to $0.63 for the third quarter of 2012. Third quarter 2013 net income attributable to Hertz Global Holdings, Inc. and Subsidiaries’ common stockholders, on a GAAP basis, was $214.7 million or $0.47 per share on a diluted basis, compared to $242.9 million or $0.55 per share on a diluted basis for the third quarter of 2012.

    "Our ninth consecutive quarter of record adjusted pre-tax income, which increased 22.3% year-over-year in the third quarter, was driven by solid revenue growth in four key businesses: U.S. off-airport car rental, Dollar Thrifty, Donlen and worldwide equipment rental," said Mark P. Frissora, the Company’s Chairman and Chief Executive Officer. "In U.S. car rental, we were especially pleased to report stronger pricing in spite of carrying excess fleet due to lower-than-anticipated volume," he added.

    INCOME MEASUREMENTS, THIRD QUARTER 2013 & 2012

    Q3 2013

    Q3 2012

    (in millions, except per share

    amounts)

    Pre-tax

    Income

    Net

    Income

    Diluted

    Earnings

    Per Share

    Pre-tax

    Income

    Net

    Income

    Diluted

    Earnings

    Per Share

    Earnings Measures, as reported

    (EPS based on 465.0M and 445.5M diluted shares, respectively)*

    $

    328.3

    $

    214.7

    $

    0.47

    $

    368.9

    $

    242.9

    $

    0.55

    Adjustments:

    Purchase accounting

    34.3

    23.9

    Non-cash debt charges

    17.6

    20.5

    Integration expenses

    8.3

    –

    Restructuring and related charges

    39.2

    3.5

    Derivative (gains) losses

    0.5

    (0.1)

    Acquisition related costs

    3.4

    8.1

    Relocation costs

    3.9

    –

    Impairment charges and other(a)

    44.0

    –

    Other(b)

    40.0

    –

    Adjusted pre-tax income

    519.5

    519.5

    424.8

    424.8

    Assumed provision for income taxes

    at 35% in 2013 and 34% in 2012

    (181.8)

    (144.5)

    Earnings Measures, as adjusted

    (EPS based on 465.0M and 445.5M

    diluted shares, respectively)*

    $

    519.5

    $

    337.7

    $

    0.73

    $

    424.8

    $

    280.3

    $

    0.63

    *

    We had a change in policy in Q1 2013 with respect to settling the conversion of our 5.25% Convertible Senior Notes due June 2014. For 2013, this policy change results in an adjustment to the numerator (net income) of our earnings per share computation. The numerator is adjusted to add back the after-tax amount of interest recognized in the period associated with the Convertible Senior Notes on the same pro rata basis.

    (a)

    Related to Franchise Services of North America and its subsidiary, Simply Wheelz, LLC as disclosed below.

    (b)

    Primarily represents expenses related to the loss on conversion of the convertible senior notes as disclosed below.

    Net cash provided by operating activities year to date was $2,851.6 million, compared to $2,131.2 million in the same period last year, an increase of $720.4 million. The increase was primarily due to an increase in net income before depreciation and amortization. Free cash flow(1) for the nine months ended September 30, 2013 increased by $301.8 million compared to the same period last year. The year over year improvement in free cash flow was primarily driven by strong earnings growth and improved working capital performance somewhat offset by an incremental $104.6 million in net investments related to car rental and equipment rental fleet growth and increased non fleet capital expenditures. The Company ended the third quarter of 2013 with total debt of $17.1 billion and net corporate debt(1) of $6.3 billion, compared with total debt of $15.4 billion and net corporate debt of $5.9 billion as of December 31, 2012.

    In August 2013, we entered into privately negotiated agreements with certain holders of approximately $390 million in aggregate principal amount of our Convertible Senior Notes providing for the conversion of Convertible Senior Notes which resulted in a total charge of $39 million in the third quarter and the issuance of 47.1 million shares.

    Effective this quarter, we changed our segment reporting to the following new segments: U.S. car rental (which includes our U.S. airport and off-airport businesses), international car rental (which includes Canada, Europe, Latin and South America, Caribbean, Australia and New Zealand), worldwide equipment rental and all other operations (which includes Donlen together with other business activities, such as our third party claim management services). Previously, U.S. car rental, international car rental and Donlen were included in our worldwide car rental segment. With the acquisition of Dollar Thrifty and the growth of our U.S. operations, we believe our current presentation of segments provide more insight into our worldwide car rental business. Our third quarter results present our new segments with the comparable 2012 period revised as well.

    U.S. CAR RENTAL

    U.S. car rental revenues were $1,765.5 million for the third quarter of 2013, an increase of 32.6% from the prior year period. The Company achieved record transaction days for the quarter which increased 28.4% over the third quarter of 2012 largely due to the acquisition of Dollar Thrifty, partially offset by the Advantage divestiture. U.S. off-airport total revenues for the third quarter increased 11.1% year-over-year. U.S car rental total RPD for the quarter increased 2.0% from the prior year period.

    U.S. car rental adjusted pre-tax income for the third quarter of 2013 was $391.8 million, an increase of $74.8 million from $317.0 million in the prior year period. The result was driven by stronger volumes and pricing including the impact of the Dollar Thrifty acquisition, lower net depreciation per vehicle and lower interest expense as a percent of revenues. As a result, U.S. car rental achieved an adjusted pre-tax margin(1) of 22.2% for the quarter, versus 23.8% in the prior year period.

    The U.S. average number of Company-operated cars for the third quarter of 2013 was 493,400, an increase of 33.9% over the prior year period, largely due to the acquisition of Dollar Thrifty.

    ADVANTAGE RENT-A-CAR

    As of September 30, 2013, Simply Wheelz, LLC, or "Simply Wheelz," the owner and operator of Hertz’s divested Advantage brand, had not made payments due under concession and joint use agreements due to Hertz. Simply Wheelz also did not make the sublease payments due to Hertz on October 1, 2013 or November 1, 2013. Simply Wheelz’s parent Franchise Services of North America, Inc., or "FSNA," called us in early October to inform us that they were having liquidity issues and requested that Hertz delay seeking collection of all outstanding amounts owed to Hertz and agree to renegotiate certain aspects of existing commercial arrangements between the parties, including the financial terms on which Hertz is subleasing vehicles to them.

    We evaluated their request and suggested a number of changes that would be acceptable to Hertz. However, after extensive discussions with respect to a potential restructuring of those commercial arrangements, we determined that it was not in Hertz’s best interests to make the requested changes and were unable to agree on a suitable alternative. On November 2, 2013, we terminated the applicable sublease contracts, and we continue evaluating our alternatives in light of the sublease termination.

    We currently estimate our total exposure to FSNA’s liquidity issues to be between $50 and $70 million. We recorded a reserve in the third quarter of $4 million covering those amounts due but not paid as of September 30, 2013 and an aggregate impairment charge of $40 million to cover our expected loss on the sale, including transportation and auction fees, of the vehicles subleased to Simply Wheelz. The remaining $6-$26 million of exposure relates to professional fees, non-payment by FSNA of interest, sublease and other payments due Hertz which may fluctuate depending on when the vehicles are returned and sold.

    INTERNATIONAL CAR RENTAL

    International car rental revenues were $768.6 million for the third quarter of 2013, an increase of 9.7% from the prior year period. The Company achieved record transaction days for the quarter which increased 5.5% over the third quarter of 2012 largely due to strong performance across Europe. International rental car total RPD for the quarter increased 2.9% from the prior year period.

    International car rental adjusted pre-tax income for the third quarter of 2013 was $129.4 million, an increase of $30.0 million from $99.4 million in the prior year period. The result was driven by stronger volumes and pricing, lower net depreciation per vehicle and lower interest expense as a percentage of revenues. As a result, international car rental achieved an adjusted pre-tax margin(1) of 16.8% for the quarter, versus 14.2% in the prior year period.

    The international average number of Company-operated cars for the third quarter of 2013 was 187,900, an increase of 3.5% over the prior year period.

    WORLDWIDE EQUIPMENT RENTAL

    Worldwide equipment rental revenues were $401.8 million for the third quarter of 2013, a 10.7% increase from the prior year period. The primary drivers of the increase were stronger equipment rental volumes, up 14.9%, and a 2.9% increase in pricing. Volume increased on strong industrial and improving construction performance.

    Adjusted pre-tax income for worldwide equipment rental for the third quarter of 2013 was $87.5 million, an improvement of $11.3 million from $76.2 million in the prior year period, primarily attributable to the effects of increased volume, improved pricing and cost management initiatives including improved time and dollar utilization. Worldwide equipment rental achieved an adjusted pre-tax margin of 21.8% and a Corporate EBITDA margin(1) of 45.5% for the quarter.

    ALL OTHER OPERATIONS

    Our all other operations segment revenues were $133.5 million for the third quarter of 2013, an increase of 9.7% from the prior year period, primarily due to increased revenues from our Donlen operations.

    Adjusted pre-tax income for our all other operations segment for the third quarter 2013 was $14.0 million which achieved an adjusted pre-tax margin of 10.5%.

    SHARE REPURCHASE PROGRAM

    The Company’s board of directors has approved a share repurchase program that authorizes the Company to purchase up to $300 million of the Company’s common stock. The share repurchase program permits the Company to purchase shares through a variety of methods, including in the open market or through privately negotiated transactions, in accordance with applicable securities laws. It does not obligate the Company to make any repurchases at any specific time or situation. The timing and extent to which the Company repurchases its shares will depend upon, among other things, market conditions, share price, liquidity targets and other factors. Share repurchases may be commenced or suspended at any time or from time to time without prior notice.

    OUTLOOK

    The Company confirms its revised guidance which it issued on September 26, 2013. In 2013, the Company expects to generate worldwide revenues in the range of $10,800 million – $10,900 million, Corporate EBITDA in the range of $2,120 million – $2,190 million, adjusted pre-tax income in the range of $1,200 million – $1,270 million, adjusted net income in the range of $780 million – $830 million and adjusted diluted earnings per share in the range of $1.68 – $1.78.

    The Company noted it is experiencing improving U.S. airport volume in its Hertz brand, after the conclusion of the U.S. government shutdown in mid-October. The Company continues to be affected by the carryover effect of lower fleet efficiency and wholesale losses due to the need to sell vehicles ahead of its planned rotation schedule. The Company currently has an unusually high number of vehicles grounded due to safety recalls, which also impacts fourth quarter fleet efficiency. The Company expects to repair the recalled vehicles by mid-November. Additionally, the Company expects to achieve its full year 2013 financial targets for the integration of the Dollar and Thrifty brands with Hertz. The Company’s European profit improvement program remains on track in the fourth quarter.

    RESULTS OF THE HERTZ CORPORATION

    The Company’s operating subsidiary, The Hertz Corporation ("Hertz"), posted the same revenues for the third quarter of 2013 as the Company. Hertz’s third quarter 2013 pre-tax income was $374.0 million versus the Company’s pre-tax income of $328.3 million. The difference between Hertz’s and the Company’s results is primarily due to additional interest expense recognized by the Company on its 5.25% Convertible Senior Notes issued in May and September 2009 and debt extinguishment costs related to the early conversion of a portion of our Convertible Senior Notes during the third quarter of 2013.

    (1)

    Adjusted pre-tax income, adjusted pre-tax margin, Corporate EBITDA, Corporate EBITDA margin, adjusted net income, adjusted diluted earnings per share, free cash flow, net corporate debt and total revenue per transaction day are non-GAAP measures. See the accompanying Tables and Exhibit for the reconciliations and definitions for each of these non-GAAP measures and the reason the Company’s management believes that these measures provide useful information to investors regarding the Company’s financial condition and results of operations.

    (2)

    Management believes that Corporate EBITDA, adjusted pre-tax income, adjusted net income and adjusted diluted earnings per share are useful in measuring the comparable results of the Company period-over-period. The GAAP measures most directly comparable to Corporate EBITDA, adjusted pre-tax income, adjusted net income and adjusted diluted earnings per share are (i) pre-tax income and cash flows from operating activities, (ii) pre-tax income, (iii) net income, and (iv) diluted earnings per share, respectively. Because of the forward-looking nature of the Company’s forecasted Corporate EBITDA, adjusted pre-tax income, adjusted net income and adjusted diluted earnings per share, specific quantifications of the amounts that would be required to reconcile forecasted cash flows from operating activities, pre-tax income and net income are not available. The Company believes that there is a degree of volatility with respect to certain of the Company’s GAAP measures, primarily related to fair value accounting for its financial assets (which includes the Company’s derivative financial instruments), its income tax reporting and certain adjustments made to arrive at the relevant non-GAAP measures, which preclude the Company from providing accurate forecasted GAAP to non-GAAP reconciliations. Based on the above, the Company believes that providing estimates of the amounts that would be required to reconcile the range of the non-GAAP Corporate EBITDA, adjusted pre-tax income, adjusted net income and adjusted diluted earnings per share to forecasted cash flows from operating activities, pre-tax income, net income and diluted earnings per share would imply a degree of precision that would be confusing or misleading to investors for the reasons identified above.

    CONFERENCE CALL INFORMATION

    The Company’s third quarter 2013 earnings conference call will be held on Tuesday, November 5, 2013, at 10:00 a.m. (EST). To access the conference call live, dial (800) 288-8975 in the U.S. and 612-332-0335 for international callers using the passcode: 305114 or listen via webcast at www.hertz.com/investorrelations. The conference call will be available for replay one hour following the conclusion of the call until November 18, 2013 by calling 800-475-6701 in the U.S. or 320-365-3844 for international callers with the passcode: 305114. The press release and related tables containing the reconciliations of non-GAAP measures will be available on our website, www.hertz.com/investorrelations.

    ABOUT THE COMPANY

    Hertz is the largest worldwide airport general use car rental brand, operating from approximately 11,200 corporate and licensee locations in approximately 150 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest airport general use car rental brand, operating from approximately 9,770 corporate and licensee locations in approximately 150 countries. Our Dollar and Thrifty brands have approximately 1,410 corporate and franchise locations in approximately 80 countries. Hertz is the number one airport car rental brand in the U.S. and at 120 major airports in Europe. Hertz is an inaugural member of Travel + Leisure’s World’s Best Awards Hall of Fame and was recently named, for the thirteenth time, by the magazine’s readers as the Best Car Rental Agency. Hertz was also voted the Best Overall Car Rental Company in Zagat’s 2012/13 U.S. Car Rental Survey, earning top honors in 14 additional categories, and the Company swept the global awards for Best Rewards Program and Best Overall Benefits from FlyerTalk.com. Product and service initiatives such as Hertz Gold Plus Rewards, NeverLost®, and unique cars and SUVs offered through the Company’s Adrenaline, Prestige and Green Traveler Collections, also set Hertz apart from the competition. Additionally, Hertz owns the vehicle leasing and fleet management leader Donlen Corporation and operates the Hertz On Demand car sharing business. The Company also owns a leading North American equipment rental business, Hertz Equipment Rental Corporation, which includes Hertz Entertainment Services.

    CAUTIONARY NOTE CONCERNING FORWARD-LOOKING STATEMENTS

    Certain statements contained in this press release and in related comments by our management include "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include information concerning the Company’s outlook, anticipated revenues and results of operations, as well as any other statement that does not directly relate to any historical or current fact. These forward-looking statements often include words such as "believe," "expect," "project," "anticipate," "intend," "plan," "estimate," "seek," "will," "may," "would," "should," "could," "forecasts" or similar expressions. These statements are based on certain assumptions that the Company has made in light of its experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors that the Company believes are appropriate in these circumstances. We believe these judgments are reasonable, but you should understand that these statements are not guarantees of performance or results, and our actual results could differ materially from those expressed in the forward-looking statements due to a variety of important factors, both positive and negative.

    Among other items, such factors could include: our ability to integrate the car rental operations of Dollar Thrifty and realize operational efficiencies from the acquisition; the risk that expected synergies, cost savings from the Dollar Thrifty acquisition may not be fully realized or realized within the expected time frame; the operational and profitability impact of the Advantage divestiture and the divestiture of the airport locations that we agreed to undertake in order to secure regulatory approval for the Dollar Thrifty acquisition; levels of travel demand, particularly with respect to airline passenger traffic in the United States and in global markets; our ability to collect amounts owed by Simply Wheelz, LLC. and uncertainty of our future commercial arrangements with Franchise Services of North America and its subsidiary Simply Wheelz, LLC.; the impact of pending and future U.S. governmental action to address budget deficits through reductions in spending and similar austerity measures, which could materially adversely affect unemployment rates and consumer spending levels; significant changes in the competitive environment, including as a result of industry consolidation, and the effect of competition in our markets, including on our pricing policies or use of incentives; occurrences that disrupt rental activity during our peak periods; our ability to achieve cost savings and efficiencies and realize opportunities to increase productivity and profitability; an increase in our fleet costs as a result of an increase in the cost of new vehicles and/or a decrease in the price at which we dispose of used vehicles either in the used vehicle market or under repurchase or guaranteed depreciation programs our ability to accurately estimate future levels of rental activity and adjust the size and mix of our fleet accordingly; our ability to maintain sufficient liquidity and the availability to us of additional or continued sources of financing for our revenue earning equipment and to refinance our existing indebtedness; safety recalls by the manufacturers of our vehicles and equipment; a major disruption in our communication or centralized information networks; financial instability of the manufacturers of our vehicles and equipment; any impact on us from the actions of our licensees, franchisees, dealers and independent contractors; our ability to maintain profitability during adverse economic cycles and unfavorable external events (including war, terrorist acts, natural disasters and epidemic disease); shortages of fuel and increases or volatility in fuel costs; our ability to successfully integrate acquisitions and complete dispositions; our ability to maintain favorable brand recognition; costs and risks associated with litigation; risks related to our indebtedness, including our substantial amount of debt, our ability to incur substantially more debt and increases in interest rates or in our borrowing margins; our ability to meet the financial and other covenants contained in our Senior Credit Facilities, our outstanding unsecured Senior Notes and certain asset-backed and asset-based arrangements; changes in accounting principles, or their application or interpretation, and our ability to make accurate estimates and the assumptions underlying the estimates, which could have an effect on earnings; changes in the existing, or the adoption of new laws, regulations, policies or other activities of governments, agencies and similar organizations where such actions may affect our operations, the cost thereof or applicable tax rates; changes to our senior management team; the effect of tangible and intangible asset impairment charges; the impact of our derivative instruments, which can be affected by fluctuations in interest rates and commodity prices; and our exposure to fluctuations in foreign exchange rates. Additional information concerning these and other factors can be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.

    The Company therefore cautions you against relying on these forward-looking statements. All forward-looking statements attributable to the Company or persons acting on the Company’s behalf are expressly qualified in their entirety by the foregoing cautionary statements. All such statements speak only as of the date made, and the Company undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

    Tables and Exhibit:

    Table 1:

    Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2013 and 2012

    Table 2:

    Condensed Consolidated Statements of Operations As Reported and As Adjusted for the Three and Nine Months Ended September 30, 2013 and 2012

    Table 3:

    Segment and Other Information for the Three and Nine Months Ended September 30, 2013 and 2012

    Table 4:

    Selected Operating and Financial Data as of or for the Three and Nine months Ended September 30, 2013 compared to September 30, 2012 and Selected Balance Sheet Data as of September 30, 2013 and December 31, 2012

    Table 5:

    Condensed Consolidated Statements of Operations By Reportable Segments for the Three and Nine Months Ended September 30, 2013 and 2012

    Table 6:

    Non-GAAP Reconciliations of Adjusted Pre-Tax Income (Loss) and Adjusted Net Income (Loss) for the Three and Nine months Ended September 30, 2013 and 2012

    Table 7:

    Non-GAAP Reconciliations of Free Cash Flow, EBITDA, and Corporate EBITDA for the Three and Nine months Ended September 30, 2013 and 2012

    Table 8:

    Non-GAAP Reconciliations of Operating Cash Flows to EBITDA for Three and Nine months Ended September 30, 2013 and 2012, Net Corporate Debt, Net Fleet Debt and Total Net Debt as of September 30, 2013, 2012 and 2011, June 30, 2012 and 2011, and December 31, 2012 and 2011, Car Rental Rate Revenue per Transaction Day and Equipment Rental and Rental Related Revenue for the Three Months Ended September 30, 2013 and 2012

    Exhibit 1:

    Non-GAAP Measures: Definitions and Use/Importance

    Table 1

    HERTZ GLOBAL HOLDINGS, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (In millions, except per share amounts)

    Unaudited

    Three Months Ended

    As a Percentage

    September 30,

    of Total Revenues

    2013

    2012

    2013

    2012

    Total revenues

    $ 3,069.4

    $ 2,516.2

    100.0

    %

    100.0

    %

    Expenses:

    Direct operating

    1,525.4

    1,241.1

    49.7

    %

    49.3

    %

    Depreciation of revenue earning

    equipment and lease charges

    676.7

    560.5

    22.1

    %

    22.3

    %

    Selling, general and administrative

    276.8

    201.0

    9.0

    %

    8.0

    %

    Interest expense

    182.3

    154.9

    5.9

    %

    6.1

    %

    Interest income

    (3.5)

    (0.7)

    (0.1)

    %

    –

    %

    Other (income) expense, net

    83.4

    (9.5)

    2.7

    %

    (0.4)

    %

    Total expenses

    2,741.1

    2,147.3

    89.3

    %

    85.3

    %

    Income before income taxes

    328.3

    368.9

    10.7

    %

    14.7

    %

    Provision for taxes on income

    (113.6)

    (126.0)

    (3.7)

    %

    (5.0)

    %

    Net income attributable to Hertz Global Holdings,

    Inc. and Subsidiaries’ common stockholders

    $ 214.7

    $ 242.9

    7.0

    %

    9.7

    %

    Weighted average number of

    shares outstanding:

    Basic

    424.9

    420.6

    Diluted

    465.0

    445.5

    Earnings per share attributable to Hertz Global Holdings,

    Inc. and Subsidiaries’ common stockholders:

    Basic

    $ 0.51

    $ 0.58

    Diluted (a)

    $ 0.47

    $ 0.55

    Nine Months Ended

    As a Percentage

    September 30,

    of Total Revenues

    2013

    2012

    2013

    2012

    Total revenues

    $ 8,220.6

    $ 6,702.3

    100.0

    %

    100.0

    %

    Expenses:

    Direct operating

    4,282.6

    3,544.2

    52.1

    %

    52.9

    %

    Depreciation of revenue earning

    equipment and lease charges

    1,904.8

    1,595.4

    23.2

    %

    23.8

    %

    Selling, general and administrative

    803.5

    615.3

    9.7

    %

    9.2

    %

    Interest expense

    542.9

    469.4

    6.6

    %

    7.0

    %

    Interest income

    (7.3)

    (2.3)

    (0.1)

    %

    0.0

    %

    Other (income) expense, net

    81.7

    (10.5)

    1.0

    %

    (0.2)

    %

    Total expenses

    7,608.2

    6,211.5

    92.6

    %

    92.7

    %

    Income before income taxes

    612.4

    490.8

    7.4

    %

    7.3

    %

    Provision for taxes on income

    (258.3)

    (211.3)

    (3.1)

    %

    (3.1)

    %

    Net income attributable to Hertz Global Holdings,

    Inc. and Subsidiaries’ common stockholders

    $ 354.1

    $ 279.5

    4.3

    %

    4.2

    %

    Weighted average number of

    shares outstanding:

    Basic

    413.9

    419.6

    Diluted

    463.7

    447.1

    Earnings per share attributable to Hertz Global Holdings,

    Inc. and Subsidiaries’ common stockholders:

    Basic

    $ 0.86

    $ 0.67

    Diluted (a)

    $ 0.78

    $ 0.63

    (a) We had a change in policy in Q1 2013 with respect to settling the conversion of our 5.25% Convertible Senior Notes

    due June 2014. For 2013, this policy change results in an adjustment to the numerator (net income) of our earnings per

    share computation. The numerator is adjusted to add back the after-tax amount of interest recognized in the period

    associated with the Convertible Senior Notes on the same pro rata basis.

    Table 2

    HERTZ GLOBAL HOLDINGS, INC.

    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

    (In millions)

    Unaudited

    Three Months Ended September 30, 2013

    Three Months Ended September 30, 2012

    As

    As

    As

    As

    Reported

    Adjustments

    Adjusted

    Reported

    Adjustments

    Adjusted

    Total revenues

    $ 3,069.4

    $ –

    $ 3,069.4

    $ 2,516.2

    $ –

    $ 2,516.2

    Expenses:

    Direct operating

    1,525.4

    (52.3)

    (a)

    1,473.1

    1,241.1

    (25.1)

    (a)

    1,216.0

    Depreciation of revenue earning

    equipment and lease charges

    676.7

    (2.2)

    (b)

    674.5

    560.5

    (2.5)

    (b)

    558.0

    Selling, general and administrative

    276.8

    (35.6)

    (c)

    241.2

    201.0

    (7.8)

    (c)

    193.2

    Interest expense

    182.3

    (17.7)

    (d)

    164.6

    154.9

    (20.5)

    (d)

    134.4

    Interest income

    (3.5)

    –

    (3.5)

    (0.7)

    –

    (0.7)

    Other (income) expense, net

    83.4

    (83.4)

    (e)

    –

    (9.5)

    –

    (9.5)

    Total expenses

    2,741.1

    (191.2)

    2,549.9

    2,147.3

    (55.9)

    2,091.4

    Income before income taxes

    328.3

    191.2

    519.5

    368.9

    55.9

    424.8

    Provision for taxes on income

    (113.6)

    (68.2)

    (f)

    (181.8)

    (126.0)

    (18.5)

    (f)

    (144.5)

    Net income attributable to Hertz Global Holdings,

    Inc. and Subsidiaries’ common stockholders

    $ 214.7

    $ 123.0

    $ 337.7

    $ 242.9

    $ 37.4

    $ 280.3

    Weighted average number of diluted shares outstanding

    465.0

    465.0

    465.0

    445.5

    445.5

    445.5

    Diluted earnings per share (g)(h)

    $ 0.47

    $ 0.26

    $ 0.73

    $ 0.55

    $ 0.08

    $ 0.63

    Nine Months Ended September 30, 2013

    Nine Months Ended September 30, 2012

    As

    As

    As

    As

    Reported

    Adjustments

    Adjusted

    Reported

    Adjustments

    Adjusted

    Total revenues

    $ 8,220.6

    $ –

    $ 8,220.6

    $ 6,702.3

    $ –

    $ 6,702.3

    Expenses:

    Direct operating

    4,282.6

    (142.0)

    (a)

    4,140.6

    3,544.2

    (88.6)

    (a)

    3,455.6

    Depreciation of revenue earning

    equipment and lease charges

    1,904.8

    (7.7)

    (b)

    1,897.1

    1,595.4

    (8.0)

    (b)

    1,587.4

    Selling, general and administrative

    803.5

    (78.0)

    (c)

    725.5

    615.3

    (34.4)

    (c)

    580.9

    Interest expense

    542.9

    (54.5)

    (d)

    488.4

    469.4

    (66.3)

    (d)

    403.1

    Interest income

    (7.3)

    –

    (7.3)

    (2.3)

    –

    (2.3)

    Other (income) expense, net

    81.7

    (83.9)

    (e)

    (2.2)

    (10.5)

    –

    (10.5)

    Total expenses

    7,608.2

    (366.1)

    7,242.1

    6,211.5

    (197.3)

    6,014.2

    Income before income taxes

    612.4

    366.1

    978.5

    490.8

    197.3

    688.1

    Provision for taxes on income

    (258.3)

    (84.2)

    (f)

    (342.5)

    (211.3)

    (22.7)

    (f)

    (234.0)

    Net income attributable to Hertz Global Holdings,

    Inc. and Subsidiaries’ common stockholders

    $ 354.1

    $ 281.9

    $ 636.0

    $ 279.5

    $ 174.6

    $ 454.1

    Weighted average number of diluted shares outstanding

    463.7

    463.7

    463.7

    447.1

    447.1

    447.1

    Diluted earnings per share (g)(h)

    $ 0.78

    $ 0.61

    $ 1.39

    $ 0.63

    $ 0.39

    $ 1.02

    (a) Represents the increase in amortization of other intangible assets, depreciation of property and equipment and accretion of certain revalued liabilities relating to purchase

    accounting. For the three months ended September 30, 2013 and 2012, also includes restructuring and restructuring related charges of $10.0 million and $4.3 million,

    respectively. For the nine months ended September 30, 2013 and 2012, also includes restructuring and restructuring related charges of $21.0 million and $21.3 million,

    respectively.

    (b) Represents the increase in depreciation of equipment rental revenue earning equipment based upon its revaluation relating to purchase accounting.

    (c) Represents an increase in depreciation of property and equipment relating to purchase accounting. For the three months ended September 30, 2013 and 2012, also includes

    restructuring and restructuring related charge (benefit) of $26.3 million and $(0.9) million, respectively. For the nine months ended September 30, 2013 and 2012, also

    includes restructuring and restructuring related charges of $41.0 million and $13.2 million, respectively. For all periods presented, also includes other adjustments which

    are detailed in Table 5.

    (d) Represents non-cash debt charges relating to the amortization of deferred debt financing costs and debt discounts.

    (e) Primarily represents impairment charges related to Franchise Services of North America and its subsidiary, Simply Wheelz, LLC., debt extinguishment loss and inducement

    costs on conversion of the convertible senior notes.

    (f) Represents a provision for income taxes derived utilizing a normalized income tax rate (35% for 2013 and 34% for 2012).

    (g) Adjusted diluted earnings per share represents a non-GAAP measure, see the accompanying reconciliations and definitions.

    (h) See footnote explanation in Table 1.

    Note: Certain adjustments have been reclassified to conform with current period presentation.

    Table 3

    HERTZ GLOBAL HOLDINGS, INC.

    SEGMENT AND OTHER INFORMATION

    (In millions, except per share amounts)

    Unaudited

    Three Months Ended

    Nine Months Ended

    September 30,

    September 30,

    2013

    2012

    2013

    2012

    Revenues:

    U.S. Car Rental

    $ 1,765.5

    $ 1,331.0

    $ 4,848.0

    $ 3,599.6

    International Car Rental

    768.6

    700.6

    1,838.3

    1,754.0

    Worldwide Equipment Rental

    401.8

    363.0

    1,137.1

    1,000.1

    All Other Operations

    133.5

    121.6

    397.2

    348.6

    Other reconciling items

    –

    –

    –

    –

    $ 3,069.4

    $ 2,516.2

    $ 8,220.6

    $ 6,702.3

    Depreciation of property and equipment:

    U.S. Car Rental

    $ 30.4

    $ 23.8

    $ 95.4

    $ 72.1

    International Car Rental

    5.7

    5.6

    18.8

    18.5

    Worldwide Equipment Rental

    8.3

    8.1

    25.2

    24.7

    All Other Operations

    0.9

    0.8

    2.7

    2.4

    Other reconciling items

    2.5

    3.1

    7.6

    9.2

    $ 47.8

    $ 41.4

    $ 149.7

    $ 126.9

    Amortization of other intangible assets:

    U.S. Car Rental

    $ 16.2

    $ 5.6

    $ 48.4

    $ 16.9

    International Car Rental

    2.3

    1.9

    5.4

    5.4

    Worldwide Equipment Rental

    9.5

    10.1

    30.3

    30.0

    All Other Operations

    1.8

    1.8

    5.4

    5.4

    Other reconciling items

    0.5

    0.4

    1.4

    1.2

    $ 30.3

    $ 19.8

    $ 90.9

    $ 58.9

    Income (loss) before income taxes:

    U.S. Car Rental

    $ 314.1

    $ 304.3

    $ 801.5

    $ 611.3

    International Car Rental

    105.7

    93.1

    76.1

    74.4

    Worldwide Equipment Rental

    75.2

    63.0

    170.0

    101.1

    All Other Operations

    5.8

    7.6

    25.8

    16.6

    Other reconciling items

    (172.5)

    (99.1)

    (461.0)

    (312.6)

    $ 328.3

    $ 368.9

    $ 612.4

    $ 490.8

    Corporate EBITDA (a):

    U.S. Car Rental

    $ 420.4

    $ 342.0

    $ 1,026.0

    $ 728.2

    International Car Rental

    138.5

    109.0

    151.6

    131.9

    Worldwide Equipment Rental

    182.8

    165.4

    487.4

    399.1

    All Other Operations

    12.8

    11.4

    37.3

    28.5

    Other reconciling items

    (13.7)

    (20.8)

    (56.8)

    (65.0)

    $ 740.8

    $ 607.0

    $ 1,645.5

    $ 1,222.7

    Adjusted pre-tax income (loss) (a):

    U.S. Car Rental

    $ 391.8

    $ 317.0

    $ 934.6

    $ 658.4

    International Car Rental

    129.4

    99.4

    125.8

    106.4

    Worldwide Equipment Rental

    87.5

    76.2

    207.1

    144.6

    All Other Operations

    14.0

    12.9

    41.2

    34.5

    Other reconciling items

    (103.2)

    (80.7)

    (330.2)

    (255.8)

    $ 519.5

    $ 424.8

    $ 978.5

    $ 688.1

    Adjusted net income (loss) (a):

    U.S. Car Rental

    $ 254.7

    $ 209.2

    $ 607.5

    $ 434.5

    International Car Rental

    84.1

    65.6

    81.8

    70.2

    Worldwide Equipment Rental

    56.9

    50.3

    134.6

    95.4

    All Other Operations

    9.1

    8.5

    26.7

    22.8

    Other reconciling items

    (67.1)

    (53.3)

    (214.6)

    (168.8)

    $ 337.7

    $ 280.3

    $ 636.0

    $ 454.1

    Weighted average number of diluted shares outstanding (a)

    465.0

    445.5

    463.7

    447.1

    Adjusted diluted earnings per share (a)(b)

    $ 0.73

    $ 0.63

    $ 1.39

    $ 1.02

    (a) Represents a non-GAAP measure, see the accompanying reconciliations and definitions.

    (b) See footnote explanation in Table 1.

    Note: "Other Reconciling Items" includes general corporate expenses and certain interest expense (including net interest on corporate debt).

    See Tables 5 and 6.

    Table 4

    HERTZ GLOBAL HOLDINGS, INC.

    SELECTED OPERATING AND FINANCIAL DATA

    Unaudited

    Three

    Percent

    Nine

    Percent

    Months

    change

    Months

    change

    Ended, or as

    from

    Ended, or as

    from

    of September 30,

    prior year

    of September 30,

    prior year

    2013

    period

    2013

    period

    Selected U.S. Car Rental Operating Data

    Number of transactions (in thousands)

    7,072

    24.6

    %

    20,380

    26.3

    %

    Transaction days (in thousands) (a)

    36,064

    28.4

    %

    100,306

    29.9

    %

    Total RPD (b)

    $ 48.33

    2.0

    %

    $ 47.68

    2.3

    %

    Average number of cars (Company-operated)

    493,400

    33.9

    %

    467,100

    34.5

    %

    Average number of cars (Leased)

    23,400

    N/M

    22,700

    N/M

    Revenue earning equipment, net (in millions)

    $ 8,987.1

    43.7

    %

    $ 8,987.1

    43.7

    %

    Selected International Car Rental Operating Data

    Number of transactions (in thousands)

    2,126

    4.8

    %

    5,721

    4.5

    %

    Transaction days (in thousands) (a)

    14,278

    5.5

    %

    34,553

    3.7

    %

    Total RPD (b)

    $ 55.27

    2.9

    %

    $ 54.21

    0.7

    %

    Average number of cars (Company-operated)

    187,900

    3.5

    %

    162,600

    3.4

    %

    Average number of cars (Leased)

    800

    N/M

    600

    N/M

    Revenue earning equipment, net (in millions)

    $ 2,708.0

    2.0

    %

    $ 2,708.0

    2.0

    %

    Selected Worldwide Equipment Rental Operating Data

    Rental and rental related revenue (in millions) (b) (c)

    $ 371.8

    11.2

    %

    $ 1,044.3

    14.2

    %

    Same store revenue growth , including growth initiatives (b) (c)

    7.4

    %

    (8.6)

    %

    10.6

    %

    30.9

    %

    Average acquisition cost of rental equipment operated during

    the period (in millions)

    $ 3,462.0

    10.2

    %

    $ 3,369.6

    11.7

    %

    Revenue earning equipment, net (in millions)

    $ 2,410.0

    10.3

    %

    $ 2,410.0

    10.3

    %

    Selected All Other Operations Operating Data

    Average number of cars during period (Donlen – under lease and maintenance)

    170,800

    11.5

    %

    168,100

    14.4

    %

    Revenue earning equipment, net (in millions)

    $ 1,110.2

    (1.5)

    %

    $ 1,110.2

    (1.5)

    %

    Other Financial Data (in millions)

    Cash flows provided by operating activities

    $ 1,393.0

    45.0

    %

    $ 2,851.6

    33.8

    %

    Free cash flow (b)

    418.5

    515.2

    %

    13.7

    104.8

    %

    EBITDA (b)

    1,262.1

    10.2

    %

    3,294.2

    20.4

    %

    Corporate EBITDA (b)

    740.8

    22.0

    %

    1,645.5

    34.6

    %

    Selected Balance Sheet Data(in millions)

    September 30,

    December 31,

    2013

    2012

    Cash and cash equivalents

    $ 548.7

    $ 533.3

    Total revenue earning equipment, net

    15,215.3

    12,908.3

    Total assets

    25,571.8

    23,286.0

    Total debt

    17,136.2

    15,448.6

    Net corporate debt (b)

    6,274.4

    5,934.4

    Net fleet debt (b)

    9,791.9

    8,409.3

    Total net debt (b)

    16,066.3

    14,343.7

    Total equity

    2,820.9

    2,507.3

    (a) Transaction days represent the total number of days that vehicles were on rent in a given period.

    (b) Represents a non-GAAP measure, see the accompanying reconciliations and definitions.

    (c) Based on 12/31/12 foreign exchange rates.

    N/M Percentage change not meaningful.

    Table 5

    HERTZ GLOBAL HOLDINGS, INC.

    CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS BY REPORTABLE SEGMENTS

    (In millions, except per share amounts)

    Unaudited

    Three Months Ended September 30, 2013

    Three Months Ended September 30, 2012

    Other

    Other

    U.S. Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    U.S. Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Total revenues:

    $ 1,765.5

    $ 768.6

    $ 401.8

    $ 133.5

    $ –

    $ 3,069.4

    $ 1,331.0

    $ 700.6

    $ 363.0

    $ 121.6

    $ –

    $ 2,516.2

    Expenses:

    Direct operating and selling, general and administrative

    1,019.0

    481.5

    238.5

    13.7

    49.5

    1,802.2

    733.2

    439.7

    217.8

    11.8

    39.6

    1,442.1

    Depreciation of revenue earning equipment and lease charges

    342.5

    150.2

    76.3

    107.7

    –

    676.7

    248.1

    144.0

    70.0

    98.4

    0.0

    560.5

    Interest expense

    47.9

    31.4

    12.6

    6.5

    83.9

    182.3

    45.4

    33.2

    12.8

    4.0

    59.5

    154.9

    Interest income

    (1.8)

    (0.2)

    (0.1)

    (0.2)

    (1.2)

    (3.5)

    –

    (0.3)

    (0.2)

    (0.2)

    –

    (0.7)

    Other (income) expense, net

    43.8

    –

    (0.7)

    –

    40.3

    83.4

    –

    (9.1)

    (0.4)

    –

    –

    (9.5)

    Total expenses

    1,451.4

    662.9

    326.6

    127.7

    172.5

    2,741.1

    1,026.7

    607.5

    300.0

    114.0

    99.1

    2,147.3

    Income (loss) before income taxes

    314.1

    105.7

    75.2

    5.8

    (172.5)

    328.3

    304.3

    93.1

    63.0

    7.6

    (99.1)

    368.9

    Nine Months Ended September 30, 2013

    Nine Months Ended September 30, 2012

    Other

    Other

    U.S. Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    U.S Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Total revenues:

    $ 4,848.0

    $ 1,838.3

    $ 1,137.1

    $ 397.2

    $ –

    $ 8,220.6

    $ 3,599.6

    $ 1,754.0

    $ 1,000.1

    $ 348.6

    $ –

    $ 6,702.3

    Expenses:

    Direct operating and selling, general and administrative

    2,912.7

    1,270.1

    709.6

    40.5

    153.2

    5,086.1

    2,141.9

    1,195.1

    664.4

    37.2

    120.9

    4,159.5

    Depreciation of revenue earning equipment and lease charges

    953.1

    407.3

    223.0

    321.4

    –

    1,904.8

    713.1

    400.2

    199.2

    282.9

    –

    1,595.4

    Interest expense

    141.2

    85.9

    37.8

    11.1

    266.9

    542.9

    133.3

    94.5

    37.2

    12.5

    191.9

    469.4

    Interest income

    (4.5)

    (0.8)

    (0.2)

    (0.6)

    (1.2)

    (7.3)

    –

    (1.1)

    (0.4)

    (0.6)

    (0.2)

    (2.3)

    Other (income) expense, net

    44.0

    (0.3)

    (3.1)

    (1.0)

    42.1

    81.7

    –

    (9.1)

    (1.4)

    –

    –

    (10.5)

    Total expenses

    4,046.5

    1,762.2

    967.1

    371.4

    461.0

    7,608.2

    2,988.3

    1,679.6

    899.0

    332.0

    312.6

    6,211.5

    Income (loss) before income taxes

    801.5

    76.1

    170.0

    25.8

    (461.0)

    612.4

    611.3

    74.4

    101.1

    16.6

    (312.6)

    490.8

    Table 6

    HERTZ GLOBAL HOLDINGS, INC.

    RECONCILIATION OF GAAP TO NON-GAAP EARNINGS MEASURES

    (In millions, except per share amounts)

    Unaudited

    ADJUSTED PRE-TAX INCOME (LOSS) AND ADJUSTED NET INCOME (LOSS)

    Three Months Ended September 30, 2013

    Three Months Ended September 30, 2012

    Other

    Other

    U.S. Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    U.S. Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Income (loss) before income taxes

    314.1

    105.7

    75.2

    5.8

    (172.5)

    328.3

    304.3

    93.1

    63.0

    7.6

    (99.1)

    368.9

    Adjustments:

    Purchase accounting (a):

    Direct operating and selling, general and administrative

    17.7

    3.0

    9.5

    2.0

    0.5

    32.7

    5.8

    1.9

    10.6

    2.0

    1.1

    21.4

    Depreciation of revenue earning equipment

    –

    –

    –

    1.6

    –

    1.6

    –

    –

    –

    2.5

    –

    2.5

    Non-cash debt charges (b)

    2.0

    3.1

    1.1

    4.4

    7.0

    17.6

    5.1

    4.2

    1.1

    0.9

    9.2

    20.5

    Restructuring charges (c)

    7.4

    8.6

    1.1

    –

    19.2

    36.3

    1.3

    (1.1)

    1.3

    –

    –

    1.5

    Restructuring related charges (c)

    0.1

    2.8

    –

    –

    –

    2.9

    0.5

    1.3

    0.2

    –

    –

    2.0

    Derivative (gains) losses (c)

    0.2

    0.1

    –

    –

    0.2

    0.5

    –

    –

    –

    (0.1)

    –

    (0.1)

    Acquisition related costs (d)

    –

    –

    –

    –

    3.4

    3.4

    –

    –

    –

    –

    8.1

    8.1

    Integration expenses (d)

    6.6

    –

    –

    –

    1.7

    8.3

    –

    –

    –

    –

    –

    –

    Relocation costs (d)

    –

    –

    –

    –

    3.9

    3.9

    –

    –

    –

    –

    –

    –

    Impairment charges and other (c)

    44.0

    –

    –

    –

    –

    44.0

    –

    –

    –

    –

    –

    –

    Other unusual/non-recurring (c)

    (0.3)

    6.1

    0.6

    0.2

    33.4

    40.0

    –

    –

    –

    –

    –

    –

    Adjusted pre-tax income (loss)

    391.8

    129.4

    87.5

    14.0

    (103.2)

    519.5

    317.0

    99.4

    76.2

    12.9

    (80.7)

    424.8

    Assumed (provision) benefit for income taxes (e)

    (137.1)

    (45.3)

    (30.6)

    (4.9)

    36.1

    (181.8)

    (107.8)

    (33.8)

    (25.9)

    (4.4)

    27.4

    (144.5)

    Adjusted net income (loss)

    $ 254.7

    $ 84.1

    $ 56.9

    $ 9.1

    $ (67.1)

    $ 337.7

    $ 209.2

    $ 65.6

    $ 50.3

    $ 8.5

    $ (53.3)

    $ 280.3

    Nine Months Ended September 30, 2013

    Nine Months Ended September 30, 2012

    Other

    Other

    U.S. Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    U.S Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Income (loss) before income taxes

    801.5

    76.1

    170.0

    25.8

    (461.0)

    612.4

    611.3

    74.4

    101.1

    16.6

    (312.6)

    490.8

    Adjustments:

    Purchase accounting (a):

    Direct operating and selling, general and administrative

    48.9

    7.2

    30.3

    6.2

    1.6

    94.2

    22.2

    6.1

    31.4

    6.2

    3.0

    68.9

    Depreciation of revenue earning equipment

    –

    –

    –

    5.6

    –

    5.6

    –

    –

    –

    8.0

    –

    8.0

    Non-cash debt charges (b)

    5.9

    10.1

    3.4

    4.6

    30.4

    54.4

    16.5

    11.9

    3.7

    3.6

    30.6

    66.3

    Restructuring charges (c)

    18.3

    16.6

    2.4

    –

    20.3

    57.6

    5.7

    9.8

    7.1

    –

    1.7

    24.3

    Restructuring related charges (c)

    2.7

    9.5

    –

    –

    2.0

    14.2

    2.7

    4.1

    1.3

    0.3

    1.9

    10.3

    Derivative (gains) losses (c)

    0.2

    0.2

    –

    –

    0.1

    0.5

    –

    0.1

    –

    (0.2)

    –

    (0.1)

    Acquisition related costs (d)

    –

    –

    –

    –

    13.7

    13.7

    –

    –

    –

    –

    19.6

    19.6

    Integration expenses (d)

    12.0

    –

    –

    –

    17.1

    29.1

    –

    –

    –

    –

    –

    –

    Relocation costs (d)

    –

    –

    –

    –

    4.4

    4.4

    –

    –

    –

    –

    –

    –

    Impairment charges and other (c)

    44.0

    –

    –

    –

    –

    44.0

    –

    –

    –

    –

    –

    –

    Other unusual/non-recurring (c)

    1.1

    6.1

    1.0

    (1.0)

    41.2

    48.4

    –

    –

    –

    –

    –

    –

    Adjusted pre-tax income (loss)

    934.6

    125.8

    207.1

    41.2

    (330.2)

    978.5

    658.4

    106.4

    144.6

    34.5

    (255.8)

    688.1

    Assumed (provision) benefit for income taxes (e)

    (327.1)

    (44.0)

    (72.5)

    (14.5)

    115.6

    (342.5)

    (223.9)

    (36.2)

    (49.2)

    (11.7)

    87.0

    (234.0)

    Adjusted net income (loss)

    $ 607.5

    $ 81.8

    $ 134.6

    $ 26.7

    $ (214.6)

    $ 636.0

    $ 434.5

    $ 70.2

    $ 95.4

    $ 22.8

    $ (168.8)

    $ 454.1

    (a) Represents the purchase accounting effects of the acquisition of all of Hertz’s common stock on December 21, 2005 on our results of operations relating to increased depreciation

    and amortization of tangible and intangible assets and accretion of workers’ compensation and public liability and property damage liabilities. Also represents the purchase accounting

    effects of certain subsequent acquisitions on our results of operations relating to increased depreciation and amortization of intangible assets.

    (b) Represents non-cash debt charges relating to the amortization of deferred debt financing costs and debt discounts.

    (c) Amounts are included within direct operating and selling, general and administrative and other (income) expense in our statement of operations.

    (d) Amounts are included within selling, general and administrative expense in our statement of operations.

    (e) Represents a provision for income taxes derived utilizing a normalized income tax rate (35% for 2013 and 34% for 2012).

    Note: Certain adjustments have been reclassified to conform with current period presentation.

    Table 7

    HERTZ GLOBAL HOLDINGS, INC.

    RECONCILIATION OF GAAP TO NON-GAAP EARNINGS MEASURES

    (In millions)

    Unaudited

    FREE CASH FLOW, EBITDA, AND CORPORATE EBITDA

    FREE CASH FLOW

    Three Months Ended

    Nine Months Ended

    September 30,

    September 30,

    2013

    2012

    2013

    2012

    Income before income taxes

    $ 328.3

    $ 368.9

    $ 612.4

    $ 490.8

    Depreciation of property and equipment

    47.8

    41.4

    149.5

    125.1

    Amortization of intangibles and debt costs

    47.9

    40.4

    145.3

    125.0

    Cash paid for income taxes

    (13.4)

    (5.3)

    (56.4)

    (43.0)

    Changes in assets and liabilities, net of effects of acquisitions, and other

    330.1

    (26.0)

    153.4

    (100.1)

    Net cash provided by (used in) operating activities excluding depreciation of revenue

    earning equipment

    740.7

    419.4

    1,004.2

    597.8

    U.S. car rental fleet growth (a)

    85.1

    (85.0)

    (489.3)

    (271.8)

    International car rental fleet growth (a)

    (191.4)

    (192.5)

    (40.2)

    (173.5)

    Equipment rental fleet growth (a)

    (122.0)

    (186.4)

    (257.8)

    (280.1)

    All other operations rental fleet growth (a)

    (35.3)

    (2.2)

    (19.1)

    (25.7)

    Property and equipment expenditures, net of disposals

    (58.6)

    (54.1)

    (184.1)

    (134.8)

    Net investment activity

    (322.2)

    (520.2)

    (990.5)

    (885.9)

    Free cash flow

    $ 418.5

    $ (100.8)

    $ 13.7

    $ (288.1)

    (a) Car rental fleet growth is defined as car rental fleet capital expenditures, net of proceeds from disposals, plus car rental fleet depreciation and net car rental fleet financing. Worldwide equipment

    rental fleet growth is defined as worldwide equipment rental fleet expenditures, net of proceeds from disposals, plus depreciation. All other operations rental fleet growth is defined as all other

    operations rental fleet capital expenditures, net of proceeds from disposals, plus all other operations rental fleet depreciation and net all other operations rental fleet financing. The calculation

    reflects the following:

    FLEET GROWTH

    Three Months Ended September 30, 2013

    Three Months Ended September 30, 2012

    U.S Car

    Int’l Car

    Equipment

    All Other

    U.S Car

    Int’l Car

    Equipment

    All Other

    Rental

    Rental

    Rental

    Operations

    Total

    Rental

    Rental

    Rental

    Operations

    Total

    Revenue earning equipment expenditures

    $ (1,091.5)

    $ (1,102.4)

    $ (216.3)

    $ (237.8)

    $ (2,648.0)

    $ (669.6)

    $ (939.5)

    $ (277.2)

    $ (296.3)

    $ (2,182.6)

    Proceeds from disposal of revenue earning equipment

    1,112.7

    660.9

    18.2

    134.5

    1,926.3

    650.4

    387.5

    20.8

    171.8

    1,230.5

    Net revenue earning equipment capital expenditures

    21.2

    (441.5)

    (198.1)

    (103.3)

    (721.7)

    (19.2)

    (552.0)

    (256.4)

    (124.5)

    (952.1)

    Depreciation of revenue earning equipment

    342.5

    125.9

    76.1

    107.7

    652.2

    248.1

    125.1

    70.0

    98.4

    541.6

    Net financing activity related to car rental fleet

    (278.6)

    124.2

    –

    (39.7)

    (194.1)

    (313.9)

    234.4

    –

    23.9

    (55.6)

    Fleet growth

    $ 85.1

    $ (191.4)

    $ (122.0)

    $ (35.3)

    $ (263.6)

    $ (85.0)

    $ (192.5)

    $ (186.4)

    $ (2.2)

    $ (466.1)

    Nine Months Ended September 30, 2013

    Nine Months Ended September 30, 2012

    U.S Car

    Int’l Car

    Equipment

    All Other

    U.S Car

    Int’l Car

    Equipment

    All Other

    Rental

    Rental

    Rental

    Operations

    Total

    Rental

    Rental

    Rental

    Operations

    Total

    Revenue earning equipment expenditures

    $ (5,771.1)

    $ (2,574.1)

    $ (581.5)

    $ (750.4)

    $ (9,677.1)

    $ (4,466.7)

    $ (2,242.0)

    $ (606.5)

    $ (952.4)

    $ (8,267.6)

    Proceeds from disposal of revenue earning equipment

    3,513.4

    1,654.2

    100.7

    400.9

    5,669.2

    2,865.2

    1,305.8

    127.3

    540.6

    4,838.9

    Net revenue earning equipment capital expenditures

    (2,257.7)

    (919.9)

    (480.8)

    (349.5)

    (4,007.9)

    (1,601.5)

    (936.2)

    (479.2)

    (411.8)

    (3,428.7)

    Depreciation of revenue earning equipment

    953.6

    349.1

    223.0

    321.4

    1,847.1

    712.5

    337.3

    199.1

    282.9

    1,531.8

    Net financing activity related to car rental fleet

    814.8

    530.6

    –

    9.0

    1,354.4

    617.2

    425.4

    –

    103.2

    1,145.8

    Fleet growth

    $ (489.3)

    $ (40.2)

    $ (257.8)

    $ (19.1)

    $ (806.4)

    $ (271.8)

    $ (173.5)

    $ (280.1)

    $ (25.7)

    $ (751.1)

    Table 7 (pg. 2)

    EBITDA AND CORPORATE EBITDA

    Three Months Ended September 30, 2013

    Three Months Ended September 30, 2012

    Other

    Other

    U.S Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    U.S Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Income (loss) before income taxes

    $ 314.1

    $ 105.7

    $ 75.2

    $ 5.8

    $ (172.5)

    $ 328.3

    $ 304.3

    $ 93.1

    $ 63.0

    $ 7.6

    $ (99.1)

    $ 368.9

    Depreciation and amortization

    389.0

    158.6

    94.0

    110.4

    3.0

    755.0

    277.5

    151.6

    88.3

    101.2

    3.4

    622.0

    Interest, net of interest income

    46.1

    31.2

    12.5

    6.3

    82.7

    178.8

    45.4

    33.0

    12.6

    3.7

    59.5

    154.2

    EBITDA

    749.2

    295.5

    181.7

    122.5

    (86.8)

    1,262.1

    627.2

    277.7

    163.9

    112.5

    (36.2)

    1,145.1

    Adjustments:

    Car rental fleet interest

    (46.0)

    (27.4)

    –

    (6.5)

    –

    (79.9)

    (43.8)

    (29.1)

    –

    (3.6)

    –

    (76.5)

    Car rental fleet depreciation

    (342.5)

    (150.2)

    –

    (107.7)

    –

    (600.4)

    (248.1)

    (144.0)

    –

    (98.4)

    –

    (490.5)

    Non-cash expenses and charges (b)

    1.9

    3.1

    –

    4.5

    11.4

    20.9

    4.9

    4.2

    –

    0.9

    7.3

    17.3

    Extraordinary, unusual or non-recurring gains and losses (c)

    57.8

    17.5

    1.1

    –

    61.7

    138.1

    1.8

    0.2

    1.5

    –

    8.1

    11.6

    Corporate EBITDA

    $ 420.4

    $ 138.5

    $ 182.8

    $ 12.8

    $ (13.7)

    $ 740.8

    $ 342.0

    $ 109.0

    $ 165.4

    $ 11.4

    $ (20.8)

    $ 607.0

    Nine Months Ended September 30, 2013

    Nine Months Ended September 30, 2012

    Other

    Other

    U.S Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    U.S Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Income (loss) before income taxes

    $ 801.5

    $ 76.1

    $ 170.0

    $ 25.8

    $ (461.0)

    $ 612.4

    $ 611.3

    $ 74.4

    $ 101.1

    $ 16.6

    $ (312.6)

    $ 490.8

    Depreciation and amortization

    1,096.9

    432.4

    278.6

    329.5

    8.8

    2,146.2

    802.1

    423.0

    252.8

    290.7

    10.5

    1,779.1

    Interest, net of interest income

    136.7

    85.1

    37.6

    10.5

    265.7

    535.6

    133.3

    93.4

    36.8

    11.9

    191.7

    467.1

    EBITDA

    2,035.1

    593.6

    486.2

    365.8

    (186.5)

    3,294.2

    1,546.7

    590.8

    390.7

    319.2

    (110.4)

    2,737.0

    Adjustments:

    Car rental fleet interest

    (135.1)

    (77.2)

    –

    (10.8)

    –

    (223.1)

    (129.7)

    (84.6)

    –

    (11.6)

    –

    (225.9)

    Car rental fleet depreciation

    (953.1)

    (407.3)

    –

    (321.4)

    –

    (1,681.8)

    (713.1)

    (400.2)

    –

    (282.9)

    –

    (1,396.2)

    Non-cash expenses and charges (b)

    5.2

    10.3

    –

    4.7

    31.0

    51.2

    15.9

    12.0

    –

    3.5

    22.2

    53.6

    Extraordinary, unusual or non-recurring gains and losses (c)

    73.9

    32.2

    1.2

    (1.0)

    98.7

    205.0

    8.4

    13.9

    8.4

    0.3

    23.2

    54.2

    Corporate EBITDA

    $ 1,026.0

    $ 151.6

    $ 487.4

    $ 37.3

    $ (56.8)

    $ 1,645.5

    $ 728.2

    $ 131.9

    $ 399.1

    $ 28.5

    $ (65.0)

    $ 1,222.7

    (b) As defined in the credit agreements for the senior credit facilities, Corporate EBITDA excludes the impact of certain non-cash expenses and charges. The adjustments reflect the following:

    NON-CASH EXPENSES AND CHARGES

    Three Months Ended September 30, 2013

    Three Months Ended September 30, 2012

    Other

    Other

    U.S Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    U.S. Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Non-cash amortization of debt costs included

    in car rental fleet interest

    $ 1.7

    $ 3.0

    $ –

    $ 4.5

    $ –

    $ 9.2

    $ 4.9

    $ 4.2

    $ –

    $ 1.0

    $ –

    $ 10.1

    Non-cash stock-based employee

    compensation charges *

    –

    –

    –

    –

    11.2

    11.2

    –

    –

    –

    –

    7.3

    7.3

    Derivative gains

    0.2

    0.1

    –

    –

    0.2

    0.5

    –

    –

    –

    (0.1)

    –

    (0.1)

    Total non-cash expenses and charges

    $ 1.9

    $ 3.1

    $ –

    $ 4.5

    $ 11.4

    $ 20.9

    $ 4.9

    $ 4.2

    $ –

    $ 0.9

    $ 7.3

    $ 17.3

    * Compensation charges include $1.6 million of accelerated stock-based compensation charges recorded as part of restructuring charges.

    Table 7 (pg. 3)

    Nine Months Ended September 30, 2013

    Nine Months Ended September 30, 2012

    Other

    Other

    U.S Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    U.S Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Non-cash amortization of debt costs included

    in car rental fleet interest

    $ 5.0

    $ 10.1

    $ –

    $ 4.7

    $ –

    $ 19.8

    $ 15.9

    $ 11.9

    $ –

    $ 3.7

    $ –

    $ 31.5

    Non-cash stock-based employee

    compensation charges *

    –

    –

    –

    –

    30.9

    30.9

    –

    –

    –

    –

    22.2

    22.2

    Derivative gains

    0.2

    0.2

    –

    –

    0.1

    0.5

    –

    0.1

    –

    (0.2)

    –

    (0.1)

    Total non-cash expenses and charges

    $ 5.2

    $ 10.3

    $ –

    $ 4.7

    $ 31.0

    $ 51.2

    $ 15.9

    $ 12.0

    $ –

    $ 3.5

    $ 22.2

    $ 53.6

    * Compensation charges include $1.6 million of accelerated stock-based compensation charges recorded as part of restructuring charges.

    (c) As defined in the credit agreements for the senior credit facilities, Corporate EBITDA excludes the impact of extraordinary, unusual or non-recurring gains or losses or charges or credits.

    The adjustments reflect the following:

    EXTRAORDINARY, UNUSUAL OR

    NON-RECURRING ITEMS

    Three Months Ended September 30, 2013

    Three Months Ended September 30, 2012

    Other

    Other

    U.S Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    U.S. Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Restructuring charges

    $ 7.4

    $ 8.6

    $ 1.1

    $ –

    $ 19.2

    $ 36.3

    $ 1.3

    $ (1.1)

    $ 1.3

    $ –

    $ –

    $ 1.5

    Restructuring related charges

    0.1

    2.8

    –

    –

    –

    2.9

    0.5

    1.3

    0.2

    –

    –

    2.0

    Acquisition related costs

    –

    –

    –

    –

    3.4

    3.4

    –

    –

    –

    –

    8.1

    8.1

    Relocation costs

    –

    –

    –

    –

    3.9

    3.9

    –

    –

    –

    –

    –

    –

    Integration expenses

    6.6

    –

    –

    –

    1.7

    8.3

    –

    –

    –

    –

    –

    –

    Impairment charges and other

    44.0

    –

    –

    –

    –

    44.0

    –

    –

    –

    –

    –

    –

    Other

    (0.3)

    6.1

    –

    –

    33.5

    39.3

    –

    –

    –

    –

    –

    –

    Total extraordinary, unusual or non-recurring items

    $ 57.8

    $ 17.5

    $ 1.1

    $ –

    $ 61.7

    $ 138.1

    $ 1.8

    $ 0.2

    $ 1.5

    $ –

    $ 8.1

    $ 11.6

    Nine Months Ended September 30, 2013

    Nine Months Ended September 30, 2012

    Other

    Other

    U.S Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    U.S Car

    Int’l Car

    Equipment

    All Other

    Reconciling

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Rental

    Rental

    Rental

    Operations

    Items

    Total

    Restructuring charges

    $ 18.3

    $ 16.6

    $ 2.4

    $ –

    $ 20.3

    $ 57.6

    $ 5.7

    $ 9.8

    $ 7.1

    $ –

    $ 1.7

    $ 24.3

    Restructuring related charges

    2.7

    9.5

    –

    –

    2.0

    14.2

    2.7

    4.1

    1.3

    0.3

    1.9

    10.3

    Acquisition related costs

    –

    –

    –

    –

    13.7

    13.7

    –

    –

    –

    –

    19.6

    19.6

    Relocation costs

    –

    –

    –

    –

    4.4

    4.4

    –

    –

    –

    –

    –

    –

    Integration expenses

    12.0

    –

    –

    –

    17.1

    29.1

    –

    –

    –

    –

    –

    –

    Impairment charges and other

    44.0

    –

    –

    –

    –

    44.0

    –

    –

    –

    –

    –

    –

    Other

    (3.1)

    6.1

    (1.2)

    (1.0)

    41.2

    42.0

    –

    –

    –

    –

    –

    –

    Total extraordinary, unusual or non-recurring items

    $ 73.9

    $ 32.2

    $ 1.2

    $ (1.0)

    $ 98.7

    $ 205.0

    $ 8.4

    $ 13.9

    $ 8.4

    $ 0.3

    $ 23.2

    $ 54.2

    Table 8

    HERTZ GLOBAL HOLDINGS, INC.

    RECONCILIATION OF GAAP TO NON-GAAP EARNINGS MEASURES

    (In millions, except as noted)

    Unaudited

    Three Months Ended

    Nine Months Ended

    RECONCILIATION FROM OPERATING

    September 30,

    September 30,

    CASH FLOWS TO EBITDA:

    2013

    2012

    2013

    2012

    Net cash provided by operating activities

    $ 1,393.0

    $ 960.8

    $ 2,851.6

    $ 2,131.2

    Amortization of debt costs

    (17.7)

    (20.6)

    (54.4)

    (66.0)

    Provision for losses on doubtful accounts

    (16.9)

    (9.9)

    (38.4)

    (23.5)

    Derivative gains (losses)

    0.1

    (1.6)

    3.7

    (0.7)

    Gain on sale of property and equipment

    1.1

    1.2

    2.6

    1.9

    Gain (loss) on disposal of business

    (0.4)

    9.1

    (1.8)

    8.7

    Impairment charges

    (40.0)

    –

    (40.0)

    –

    Loss on revaluation of foreign denominated debt

    –

    –

    –

    (2.5)

    Loss on extinguishment of debt

    (27.5)

    –

    (27.5)

    –

    Stock-based compensation charges

    (12.8)

    (7.3)

    (32.5)

    (22.3)

    Lease charges

    24.4

    19.1

    57.7

    63.6

    Deferred income taxes

    (69.3)

    (73.1)

    (162.8)

    (104.4)

    Provision for taxes on income

    113.6

    126.0

    258.3

    211.3

    Interest expense, net of interest income

    178.8

    154.2

    535.6

    467.1

    Changes in assets and liabilities

    (264.3)

    (12.8)

    (57.9)

    72.6

    EBITDA

    $ 1,262.1

    $ 1,145.1

    $ 3,294.2

    $ 2,737.0

    NET CORPORATE DEBT, NET FLEET DEBT

    September 30,

    June 30,

    December 31,

    September 30,

    June 30,

    December 31,

    September 30,

    AND TOTAL NET DEBT

    2013

    2013

    2012

    2012

    2012

    2011

    2011

    Total Corporate Debt

    $ 6,887.8

    $ 7,578.8

    $ 6,545.3

    $ 4,784.4

    $ 4,767.9

    $ 4,704.8

    $ 4,942.4

    Total Fleet Debt

    10,248.5

    10,263.2

    8,903.3

    7,936.5

    7,700.0

    6,612.3

    7,563.9

    Total Debt

    $ 17,136.3

    $ 17,842.0

    $ 15,448.6

    $ 12,720.9

    $ 12,467.9

    $ 11,317.1

    $ 12,506.3

    Corporate Restricted Cash

    Restricted Cash, less:

    $ 521.3

    $ 393.2

    $ 571.6

    $ 376.8

    $ 175.4

    $ 308.0

    $ 332.8

    Restricted Cash Associated with Fleet Debt

    (456.6)

    (351.6)

    (494.0)

    (302.2)

    (104.0)

    (213.6)

    (215.6)

    Corporate Restricted Cash

    $ 64.7

    $ 41.6

    $ 77.6

    $ 74.6

    $ 71.4

    $ 94.4

    $ 117.2

    Net Corporate Debt

    Corporate Debt, less:

    $ 6,887.8

    $ 7,578.8

    $ 6,545.3

    $ 4,784.4

    $ 4,767.9

    $ 4,704.8

    $ 4,942.4

    Cash and Cash Equivalents

    (548.7)

    (483.1)

    (533.3)

    (453.4)

    (586.2)

    (931.8)

    (385.8)

    Corporate Restricted Cash

    (64.7)

    (41.6)

    (77.6)

    (74.6)

    (71.4)

    (94.4)

    (117.2)

    Net Corporate Debt

    $ 6,274.4

    $ 7,054.1

    $ 5,934.4

    $ 4,256.4

    $ 4,110.3

    $ 3,678.6

    $ 4,439.4

    Net Fleet Debt

    Fleet Debt, less:

    $ 10,248.5

    $ 10,263.2

    $ 8,903.3

    $ 7,936.5

    $ 7,700.0

    $ 6,612.3

    $ 7,563.9

    Restricted Cash Associated with Fleet Debt

    (456.6)

    (351.6)

    (494.0)

    (302.2)

    (104.0)

    (213.6)

    (215.6)

    Net Fleet Debt

    $ 9,791.9

    $ 9,911.6

    $ 8,409.3

    $ 7,634.3

    $ 7,596.0

    $ 6,398.7

    $ 7,348.3

    Total Net Debt

    $ 16,066.3

    $ 16,965.7

    $ 14,343.7

    $ 11,890.7

    $ 11,706.3

    $ 10,077.3

    $ 11,787.7

    Table 8 (pg. 2)

    Three Months Ended September 30,

    TOTAL RPD(a)

    U.S. Car Rental

    International Car Rental

    2013

    2012

    2013

    2012

    Car rental segment revenues (b)

    $ 1,765.5

    $ 1,331.0

    $ 768.6

    $ 700.6

    Advantage sublease revenue

    (22.5)

    –

    –

    –

    Foreign currency adjustment

    –

    –

    20.5

    26.8

    Total rental revenue

    $ 1,743.0

    $ 1,331.0

    $ 789.1

    $ 727.4

    Transactions days (in thousands)

    36,064

    28,077

    14,278

    13,536

    Total RPD (in whole dollars)

    $ 48.33

    $ 47.40

    $ 55.27

    $ 53.74

    Nine Months Ended September 30,

    TOTAL RPD(a)

    U.S. Car Rental

    International Car Rental

    2013

    2012

    2013

    2012

    Car rental segment revenues (b)

    $ 4,848.0

    $ 3,599.6

    $ 1,838.3

    $ 1,754.0

    Advantage sublease revenue

    (65.0)

    –

    –

    –

    Foreign currency adjustment

    –

    –

    34.7

    40.1

    Total rental revenue

    $ 4,783.0

    $ 3,599.6

    $ 1,873.0

    $ 1,794.1

    Transactions days (in thousands)

    100,306

    77,214

    34,553

    33,324

    Total RPD (in whole dollars)

    $ 47.68

    $ 46.62

    $ 54.21

    $ 53.84

    Three Months Ended

    Nine Months Ended

    EQUIPMENT RENTAL AND RENTAL

    September 30,

    September 30,

    RELATED REVENUE(a)

    2013

    2012

    2013

    2012

    Equipment rental segment revenues

    $ 401.8

    $ 363.0

    $ 1,137.1

    $ 1,000.1

    Equipment sales and other revenue

    (33.1)

    (30.1)

    (98.6)

    (89.0)

    Foreign currency adjustment

    3.1

    1.4

    5.8

    3.7

    Rental and rental related revenue

    $ 371.8

    $ 334.3

    $ 1,044.3

    $ 914.8

    (a) Based on 12/31/12 foreign exchange rates.

    (b) Includes U.S. off-airport revenues of $413.5 million and $372.4 million for the three months ended September 30, 2013 and 2012, respectively, and $1,096.1 and $981.4 million for the

    nine months ended September 30, 2013 and 2012, respectively. Also includes revenue from licensee transactions, among other items.

    Exhibit 1

    Non-GAAP Measures: Definitions and Use/Importance

    Hertz Global Holdings, Inc. ("Hertz Holdings") is our top-level holding company. The Hertz Corporation ("Hertz") is our primary operating company. The term "GAAP" refers to accounting principles generally accepted in the United States of America.

    Definitions of non-GAAP measures utilized in Hertz Holdings’ November 4, 2013 Press Release are set forth below. Also set forth below is a summary of the reasons why management of Hertz Holdings and Hertz believes that the presentation of the non-GAAP financial measures included in the Press Release provide useful information regarding Hertz Holdings’ and Hertz’s financial condition and results of operations and additional purposes, if any, for which management of Hertz Holdings and Hertz utilize the non-GAAP measures.

    1. Earnings Before Interest, Taxes, Depreciation and Amortization ("EBITDA") and Corporate EBITDA

    EBITDA is defined as net income before net interest expense, income taxes and depreciation (which includes revenue earning equipment lease charges) and amortization. Corporate EBITDA, as presented herein, represents EBITDA as adjusted for car rental fleet interest, car rental fleet depreciation and certain other items, as described in more detail in the accompanying tables.

    Management uses EBITDA and Corporate EBITDA as operating performance and liquidity metrics for internal monitoring and planning purposes, including the preparation of our annual operating budget and monthly operating reviews, as well as to facilitate analysis of investment decisions, profitability and performance trends. Further, EBITDA enables management and investors to isolate the effects on profitability of operating metrics such as revenue, operating expenses and selling, general and administrative expenses, which enables management and investors to evaluate our two business segments that are financed differently and have different depreciation characteristics and compare our performance against companies with different capital structures and depreciation policies. We also present Corporate EBITDA as a supplemental measure because such information is utilized in the calculation of financial covenants under Hertz’s senior credit facilities.

    EBITDA and Corporate EBITDA are not recognized measurements under GAAP. When evaluating our operating performance or liquidity, investors should not consider EBITDA and Corporate EBITDA in isolation of, or as a substitute for, measures of our financial performance and liquidity as determined in accordance with GAAP, such as net income, operating income or net cash provided by operating activities.

    2. Adjusted Pre-Tax Income

    Adjusted pre-tax income is calculated as income before income taxes plus non-cash purchase accounting charges, non-cash debt charges relating to the amortization of debt financing costs and debt discounts and certain one-time charges and non-operational items. Adjusted pre-tax income is important to management because it allows management to assess operational performance of our business, exclusive of the items mentioned above. It also allows management to assess the performance of the entire business on the same basis as the segment measure of profitability. Management believes that it is important to investors for the same reasons it is important to management and because it allows them to assess the operational performance of the Company on the same basis that management uses internally.

    3. Adjusted Net Income

    Adjusted net income is calculated as adjusted pre-tax income less a provision for income taxes derived utilizing a normalized income tax rate (35% in 2013 and 34% in 2012) and noncontrolling interest. The normalized income tax rate is management’s estimate of our long-term tax rate. Adjusted net income is important to management and investors because it represents our operational performance exclusive of the effects of purchase accounting, non-cash debt charges, one-time charges and items that are not operational in nature or comparable to those of our competitors.

    4. Adjusted Diluted Earnings Per Share

    Adjusted diluted earnings per share is calculated as adjusted net income divided by, for the three months ended September 30, 2013, 465.0 million which represents the weighted average diluted shares outstanding for the period, for the nine months ended September 30, 2013, 463.7 million which represents the weighted average diluted shares outstanding for the period and for the three months ended September 30, 2012, 445.5 million which represents the approximate number of shares outstanding at September 30, 2012, for the nine months ended September 30, 2012, 447.1 million which represents the average for the period. Adjusted diluted earnings per share is important to management and investors because it represents a measure of our operational performance exclusive of the effects of purchase accounting adjustments, non-cash debt charges, one-time charges and items that are not operational in nature or comparable to those of our competitors.

    5. Transaction Days

    Transaction days represent the total number of days that vehicles were on rent in a given period.

    6. Car Rental Revenue, Total RPD and Total Rental Revenue Per Transaction

    Car rental revenue consists of all revenue (including U.S. and International), net of discounts, associated with the rental of cars including charges for optional insurance products, revenue from fleet subleases, and licensee transactions. But for purposes of calculating total revenue per transaction day, or "Total RPD," we exclude revenue from fleet subleases. Total RPD is calculated as total revenue less revenue from fleet subleases, divided by the total number of transaction days, with all periods adjusted to eliminate the effect of fluctuations in foreign currency. Our management believes eliminating the effect of fluctuations in foreign currency is appropriate so as not to affect the comparability of underlying trends. This statistic is important to our management and investors as it represents the best measurement of the changes in underlying pricing in the car rental business and encompasses the elements in car rental pricing that management has the ability to control.

    7. Equipment Rental and Rental Related Revenue

    Equipment rental and rental related revenue consists of all revenue, net of discounts, associated with the rental of equipment including charges for delivery, loss damage waivers and fueling, but excluding revenue arising from the sale of equipment, parts and supplies and certain other ancillary revenue. Rental and rental related revenue is adjusted in all periods to eliminate the effect of fluctuations in foreign currency. Our management believes eliminating the effect of fluctuations in foreign currency is appropriate so as not to affect the comparability of underlying trends. This statistic is important to our management and to investors as it is utilized in the measurement of rental revenue generated per dollar invested in fleet on an annualized basis and is comparable with the reporting of other industry participants.

    8. Same Store Revenue Growth/Decline

    Same store revenue growth or decline is calculated as the year over year change in revenue for locations that are open at the end of the period reported and have been operating under our direction for more than twelve months. The same store revenue amounts are adjusted in all periods to eliminate the effect of fluctuations in foreign currency. Our management believes eliminating the effect of fluctuations in foreign currency is appropriate so as not to affect the comparability of underlying trends.

    9. Free Cash Flow

    Free cash flow is calculated as Net cash provided by operating activities less revenue earning equipment expenditures, net of disposal proceeds and car rental fleet financing, less non-fleet capital expenditures, net of non-fleet disposals. Free cash flow is important to management and investors as it represents the cash available for acquisitions and the reduction of corporate debt.

    10. Net Corporate Debt

    Net corporate debt is calculated as total debt excluding fleet debt less cash and equivalents and corporate restricted cash. Corporate debt consists of our Senior Term Facility; Senior ABL Facility; Senior Notes; Senior Subordinated Notes, Convertible Senior Notes; and certain other indebtedness of our domestic and foreign subsidiaries. Net Corporate Debt is important to management, investors and ratings agencies as it helps measure our leverage. Net Corporate Debt also assists in the evaluation of our ability to service our non-fleet-related debt without reference to the expense associated with the fleet debt, which is fully collateralized by assets not available to lenders under the non-fleet debt facilities.

    11. Corporate Restricted Cash (used in the calculation of Net Corporate Debt)

    Total restricted cash includes cash and cash equivalents that are not readily available for our normal disbursements. Total restricted cash and equivalents are restricted for the purchase of revenue earning vehicles and other specified uses under our Fleet Debt facilities, our like-kind exchange programs and to satisfy certain of our self-insurance regulatory reserve requirements. Corporate restricted cash is calculated as total restricted cash less restricted cash associated with fleet debt.

    12. Net Fleet Debt

    Net fleet debt is calculated as total fleet debt less restricted cash associated with fleet debt. As of September 30, 2013, fleet debt consists of HVF U.S. Fleet Variable Funding Notes, HVF U.S. Fleet Medium Term Notes, RCFC U.S. Fleet Variable Funding Notes, RCFC U.S. Fleet Medium Term Notes, HFLF Variable Funding Notes, U.S. Fleet Financing Facility, European Revolving Credit Facility, European Fleet Notes, European Securitization, Hertz-Sponsored Canadian Securitization, Dollar Thrifty-Sponsored Canadian Securitization, Australian Securitization, Brazilian Fleet Financing and Capitalized Leases relating to revenue earning equipment. This measure is important to management, investors and ratings agencies as it helps measure our leverage.

    13. Restricted Cash Associated with Fleet Debt (used in the calculation of Net Fleet Debt and Corporate Restricted Cash)

    Restricted cash associated with fleet debt is restricted for the purchase of revenue earning vehicles and other specified uses under our Fleet Debt facilities and our car rental like-kind exchange program.

    14. Total Net Debt

    Total net debt is calculated as net corporate debt plus net fleet debt. This measure is important to management, investors and ratings agencies as it helps measure our leverage.

    SOURCE Hertz Global Holdings, Inc.

  • Hertz Equipment Rental To Serve Eastern Iowa Corridor With New Cedar Rapids Facility

    Hertz Equipment Rental To Serve Eastern Iowa Corridor With New Cedar Rapids Facility

    PARK RIDGE, N.J., Nov. 4, 2013 /PRNewswire/ — The Hertz Corporation (NYSE:HTZ) has announced that Hertz Equipment Rental Corporation (hertzequip.com) has launched in Iowa with a new location in Cedar Rapids to serve the industrial, heavy construction and do-it-yourself markets. The facility provides a wide range equipment for rent or sale including aerial, compaction and paving, earth moving, generators, forklifts and other material handling equipment, trucks, trailers and small tools.

    (Photo: http://photos.prnewswire.com/prnh/20131104/NY09528 )

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    Cedar Rapids, Linn County is one of the Top 10 economic communities in the United States, according to Fourth Economy Consulting. The community, which placed at #4, was recognized as ideally positioned to attract modern investment and managed economic growth. Investments of more than $750 million in the past four years have yielded several major development and revitalization projects.

    The Hertz Equipment Cedar Rapids branch serves customers in the Eastern Iowa Corridor, with counties including Benton, Blackhawk, Cedar, Clinton, Dubuque, Iowa, Johnson, Jones, Linn, and Muscatine.

    The Hertz equipment is purchased from the industry’s leading manufacturers and is available for daily, weekly, monthly and long-term rentals. There are also rent-to-own and rental purchase option plans available for the new and used equipment for sale.

    The Cedar Rapids branch employs highly trained staff fully dedicated to providing customers a premier rental experience. The branch features a retail showroom and is located in Cedar Rapids at 4715 6th St SW, Cedar Rapids, IA 52404. Its hours of operation are Monday – Friday 7.00 am to 5pm. Staff can be reached at telephone (319) 364-0519 or fax (319) 364-0438.

    About Hertz Equipment Rental Corporation
    Hertz Equipment Rental Corporation (www.hertzequip.com) – a wholly owned subsidiary of The Hertz Corporation since 1965 – operates one of the world’s largest equipment rental businesses, offering a diverse line of equipment and tools for rent and sale. Products include aerial manlifts, air compressors and tools, earthmoving equipment and power generators, forklifts and material handling equipment, pumps, and trucks and trailers. Hertz Equipment also offers programs and equipment through its customer programs for Aerial, Energy, Entertainment, Government, HERC360 Fleet Management, Industrial Plants, National Accounts and Safety. With approximately 360 locations in the United States, Canada, China, France, Spain and Saudi Arabia as well as through international licensees, Hertz Equipment Rental offers daily, weekly, monthly and long-term rentals, tools and supplies, as well as new and used equipment for sale.

    About The Hertz Corporation
    Hertz operates its car rental business through the Hertz, Dollar, Thrifty and Firefly brands from approximately 10,400 corporate, licensee and franchisee locations in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest worldwide airport general use car rental brand, operating from approximately 8,800 corporate and licensee locations in approximately 150 countries. Hertz is the number one airport car rental brand in the U.S. and at 111 major airports in Europe. Dollar and Thrifty have approximately 1,580 corporate and franchisee locations in approximately 80 countries. Hertz is an inaugural member of Travel + Leisure’s World’s Best Awards Hall of Fame and was recently named, for the thirteenth time, by the magazine’s readers as the Best Car Rental Agency. Hertz was also voted the Best Overall Car Rental Company in Zagat’s 2013/14 U.S. Car Rental Survey, earning top honors in 10 additional categories, and the Company swept the global awards for Best Rewards Program and Best Overall Benefits from FlyerTalk.com. Product and service initiatives such as Hertz Gold Plus Rewards, NeverLost®, and unique cars and SUVs offered through the Company’s Adrenaline, Prestige and Green Traveler Collections, also set Hertz apart from the competition. Additionally, Hertz owns the vehicle leasing and fleet management leader Donlen Corporation and operates the Hertz 24/7 hourly car rental business. Hertz also operates one of the world’s largest equipment rental businesses, Hertz Equipment Rental Corporation, through approximately 350 branches in the United States, Canada, China, France, Spain and Saudi Arabia, as well as through its international licensees.

    Contact: Zoe White
    +44 1895 553 887
    zoewhite@hertz.com

    SOURCE The Hertz Corporation

  • Hertz ExpressRent™ Kiosks Now in 55 NYC Locations Hertz ExpressRent™ Kiosk Locations Expanded Throughout NYC Giving Customers the Opportunity to Virtually Rent at a Nearby Location

    Hertz ExpressRent™ Kiosks Now in 55 NYC Locations Hertz ExpressRent™ Kiosk Locations Expanded Throughout NYC Giving Customers the Opportunity to Virtually Rent at a Nearby Location

    PARK RIDGE, N.J., Oct. 31, 2013 /PRNewswire/ — Providing New York City consumers with another way to enjoy the fastest, easiest and most valued car rental experiences in the industry, The Hertz Corporation (NYSE:HTZ) now has 55 ExpressRent™ kiosk locations in the City. Hertz is the first car rental company to offer customers the ability to complete the entire rental transaction using a kiosk providing live, interactive and face-to-face communication with rental agents. The kiosks, which are operational 24 hours, 7 days a week, supplement Hertz’s 15 retail store locations, for a combined total of 70 Hertz car rental locations in New York City. Hertz plans to expand to more than 100 kiosk locations in early 2014.

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    HERTZ EXPRESSRENT(TM) KIOSKS NOW IN 55 NYC LOCATIONS Giving Customers the Opportunity to Virtually Rent at a Nearby Location. (PRNewsFoto/The Hertz Corporation) (PRNewsFoto/THE HERTZ CORPORATION)

    HERTZ EXPRESSRENT(TM) KIOSKS NOW IN 55 NYC LOCATIONS Giving Customers the Opportunity to Virtually Rent at a Nearby Location. (PRNewsFoto/The Hertz Corporation) (PRNewsFoto/THE HERTZ CORPORATION)

    (Photo – http://photos.prnewswire.com/prnh/20131031/NY08350 )

    (Logo – http://photos.prnewswire.com/prnh/20130620/NY35609LOGO )

    "Many New Yorkers don’t own cars and there’s high demand for easily accessible rental options on short notice. ExpressRent™ kiosks give customers increased convenience to rent whenever they choose from a location close to their home or workplace," commented Hertz Chairman and Chief Executive Officer, Mark P. Frissora. "Already rentals booked at Hertz’s ExpressRent Kiosks represent more than 10% of our New York City transactions. We’re expanding this industry-leading innovation to make it even easier for New Yorkers to get the car they want when they want it."

    The expansion of Hertz ExpressRent™ kiosks in NYC gives customers a fast and easy way to rent vehicles at convenient locations throughout the city, including leading parking garages across Manhattan. ExpressRent™ kiosk agents are available 24 hours a day, giving customers flexibility to rent and return their vehicle on their schedule, not the company’s. One-way rentals to and from New York airports are available from these locations as well, making it easier than ever for customers to design trips that meet their needs.

    With proprietary, patented technology, Hertz ExpressRent™ kiosks are the only in the car rental industry equipped with a touchscreen interface. A second screen allows customers to interact directly with live customer service agents via video to pick up or book rentals. The kiosks enable customers to make a reservation for a car available at any location in the city. At the rental location, the customer interacts with a Hertz kiosk agent who prints the rental agreement while a parking attendant retrieves the rental vehicle. ExpressRent™ kiosks minimize wait times and provide a full-service rental experience by accepting payment with a debit or credit card, validating the customer’s driver’s license, and printing the rental agreement.

    Hertz has expanded locations of ExpressRent™ kiosks, bringing more than 725 kiosks to more than 535 airport and off-airport locations in the U.S. and Europe. Hertz will continue to add locations, providing customers with the ability to rent a car from a live representative at any time of the day or night.

    For more information, visit www.hertz.com and follow Hertz on Facebook and Twitter.

    About Hertz

    Hertz operates its car rental business through the Hertz, Dollar and Thrifty brands from approximately 10,400 corporate, licensee and franchisee locations in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest worldwide airport general use car rental brand, operating from approximately 8,800 corporate and licensee locations in approximately 150 countries. Hertz is the number one airport car rental brand in the U.S. and at 111 major airports in Europe. Dollar and Thrifty have approximately 1,580 corporate and franchisee locations in approximately 80 countries. Hertz is an inaugural member of Travel + Leisure’s World’s Best Awards Hall of Fame and was recently named, for the thirteenth time, by the magazine’s readers as the Best Car Rental Agency. Hertz was also voted the Best Overall Car Rental Company in Zagat’s 2013/14 U.S. Car Rental Survey, earning top honors in 10 additional categories, and the Company swept the global awards for Best Rewards Program and Best Overall Benefits from FlyerTalk.com. Product and services such as Hertz Gold Plus Rewards, NeverLost®, and unique cars and SUVs offered through the Company’s Adrenaline, Prestige and Green Traveler Collections, set Hertz apart from the competition. Additionally, Hertz owns the vehicle leasing and fleet management leader Donlen Corporation and operates a leading North American equipment rental business, Hertz Equipment Rental Corporation, which includes Hertz Entertainment Services.

    SOURCE The Hertz Corporation

  • Hertz Business Rewards for Small Business Saturday The Company’s Small Business Car Rental Program Available for Businesses Gearing Up for Small Business Saturday

    Hertz Business Rewards for Small Business Saturday The Company’s Small Business Car Rental Program Available for Businesses Gearing Up for Small Business Saturday

    PARK RIDGE, N.J., Oct. 30, 2013 /PRNewswire/ — As Small Business Saturday approaches, The Hertz Corporation (NYSE: HTZ) is inviting small businesses in the U.S. to join Hertz Business Rewards – its free car rental program designed for small and mid-sized businesses that provides both company and employee benefits. Recent data compiled by Concur, a maker of travel expense management software, found that small businesses spend almost 24 percent more on business travel than large corporations. In support of small business travel, Hertz Business Rewards offers special discounted rates on car rentals, earning free rental days for the company and employee along the way.

    (Logo: http://photos.prnewswire.com/prnh/20130620/NY35609LOGO)

    "Hertz Business Rewards allows us to show our appreciation for everything small and mid-sized businesses do for our local communities," commented Hertz Executive Vice President, Sales & Marketing, Bob Stuart. "By signing up for Hertz Business Rewards, business owners and their employees can receive special rental offers to help them prepare for Small Business Saturday. Our advanced technological innovations along with the ease and convenience of renting Hertz vehicles can help with both preparations and deliveries, ultimately aiding in their success this holiday season."

    This year, Small Business Saturday falls on November 30, a day dedicated to supporting small businesses across the country. In support of Small Business Saturday, Hertz invites business owners across the U.S. to take advantage of Hertz Business Rewards in preparation for the day and for any additional services that may be needed afterwards. This is a very busy time for small businesses, and Hertz encourages companies to employ the convenience, ease and rewarding savings offered to Hertz Business Rewards members.

    Hertz Business Rewards member companies receive great deals for use at Hertz airport locations as well as the Company’s more than 2600 neighborhood locations, including:

    • Special discounted rates
    • Free rental days for the company
    • Free rental days for the traveler
    • Free Hertz Gold Plus Rewards® membership, with services that let you bypass the counter or switch to a different vehicle on the spot

    For more information on Hertz Business Rewards visit www.hertz.com or follow Hertz on Facebook and Twitter.

    About Hertz
    Hertz operates its car rental business through the Hertz, Dollar and Thrifty brands from approximately 10,400 corporate, licensee and franchisee locations in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest worldwide airport general use car rental brand, operating from approximately 8,800 corporate and licensee locations in approximately 150 countries. Hertz is the number one airport car rental brand in the U.S. and at 111 major airports in Europe. Dollar and Thrifty have approximately 1,580 corporate and franchisee locations in approximately 80 countries. Hertz is an inaugural member of Travel + Leisure’s World’s Best Awards Hall of Fame and was recently named, for the thirteenth time, by the magazine’s readers as the Best Car Rental Agency. Hertz was also voted the Best Overall Car Rental Company in Zagat’s 2013/14 U.S. Car Rental Survey, earning top honors in 10 additional categories, and the Company swept the global awards for Best Rewards Program and Best Overall Benefits from FlyerTalk.com. Product and services such as Hertz Gold Plus Rewards, NeverLost®, and unique cars and SUVs offered through the Company’s Adrenaline, Prestige and Green Traveler Collections, set Hertz apart from the competition. Additionally, Hertz owns the vehicle leasing and fleet management leader Donlen Corporation and operates a leading North American equipment rental business, Hertz Equipment Rental Corporation, which includes Hertz Entertainment Services.

    SOURCE The Hertz Corporation

  • Hertz Global Holdings To Hold Third Quarter 2013 Financial Results Conference Call

    Hertz Global Holdings To Hold Third Quarter 2013 Financial Results Conference Call

    PARK RIDGE, N.J., Oct. 29, 2013 /PRNewswire/ — Hertz Global Holdings, Inc. (NYSE: HTZ), the parent company of The Hertz Corporation, the world’s largest general use airport car rental company and a leading equipment rental company in the United States and Canada, today announced plans to hold a conference call to discuss its 2013 third quarter earnings results.

    (Logo: http://photos.prnewswire.com/prnh/20130620/NY35609LOGO)

    The call will be held on Tuesday, November 5 at 10:00 a.m. ET and will remain available for audio replay one hour following the conclusion of the call until November 18th.

    A press release detailing the company’s financial results will be issued after market close on Monday, November 4, 2013.

    Conference Call Dial-In Information:

    Time/Date:

    10:00 a.m. ET, Tuesday, November 5, 2013

    Phone:

    (800) 288-8975 (U.S.)

    (612) 332-0335 (International)

    Conference Title:

    Hertz Third Quarter 2013 Earnings Call

    Passcode:

    305114

    The call can be accessed by providing the title or passcode to the operator.

    Replay Dial-In Information:

    Phone:

    (800) 475-6701 (U.S.)

    (320) 365-3844 (International)

    Passcode:

    305114

    This call will also be available through a live audio webcast. This webcast can be accessed through a link on the Investor Relations section of the Hertz website, www.hertz.com/investorrelations, and will remain available for replay.

    About Hertz
    Hertz is the largest worldwide airport general use car rental brand, operating from approximately 11,200 corporate and licensee locations in approximately 150 countries in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest airport general use car rental brand, operating from approximately 9,770 corporate and licensee locations in approximately 150 countries. Our Dollar and Thrifty brands have approximately 1,410 corporate and franchise locations in approximately 80 countries. Hertz is the number one airport car rental brand in the U.S. and at 120 major airports in Europe. Hertz is an inaugural member of Travel + Leisure’s World’s Best Awards Hall of Fame and was recently named, for the thirteenth time, by the magazine’s readers as the Best Car Rental Agency. Hertz was also voted the Best Overall Car Rental Company in Zagat’s 2012/13 U.S. Car Rental Survey, earning top honors in 14 additional categories, and the Company swept the global awards for Best Rewards Program and Best Overall Benefits from FlyerTalk.com. Product and service initiatives such as Hertz Gold Plus Rewards, NeverLost®, and unique cars and SUVs offered through the Company’s Adrenaline, Prestige and Green Traveler Collections, also set Hertz apart from the competition. Additionally, Hertz owns the vehicle leasing and fleet management leader Donlen Corporation and operates the Hertz On Demand car sharing business. The Company also owns a leading North American equipment rental business, Hertz Equipment Rental Corporation, which includes Hertz Entertainment Services.

    Contacts:

    Leslie Hunziker

    Richard Broome

    Hertz Investor Relations

    Hertz Media Relations

    (239) 552-5700

    (239) 552-5558

    lhunziker@hertz.com

    rbroome@hertz.com

    SOURCE Hertz Global Holdings, Inc.

  • Hertz Equipment Rental Opens New Location In Paso Robles, CA Sixth location in 100 mile radius offers quality equipment rental and sales to San Louis Obispo and Monterey counties, serving the agriculture, construction and oil and gas sectors

    Hertz Equipment Rental Opens New Location In Paso Robles, CA Sixth location in 100 mile radius offers quality equipment rental and sales to San Louis Obispo and Monterey counties, serving the agriculture, construction and oil and gas sectors

    PARK RIDGE, N.J., Oct. 28, 2013 /PRNewswire/ — The Hertz Corporation (NYSE: HTZ) has announced that Hertz Equipment Rental Corporation (hertzequip.com) has opened a brand new 15,000 square foot location in Paso Robles, California to serve the growing non-residential construction, oil and gas, and agricultural markets. Featuring a retail showroom, the facility provides a wide range equipment for rent or sale including aerial, compaction, earth moving, power generators, pumps, and small tools.

    The equipment is available for daily, weekly, monthly and long-term rentals, and is purchased factory-new from the industry’s leading manufacturers. There are also rent-to-own and rental purchase option plans for the new and used equipment for sale.

    The Paso Robles location opening expands Hertz Equipment Rental’s ability to serve customers in the Central Coast of California, including the San Louis Obispo and Monterey counties of Atascadero, Cambria, Chalome, Los Osos, Morro Bay, Paso Robles, Preston, San Louis Obispo, San Miguel, San Simeon, Shandon, and Templeton. The branch joins five other Hertz Equipment Rental locations within a 100 mile radius, giving customers further access to a huge range of fleet from across all locations.

    Like all Hertz Equipment Rental locations, the Paso Robles branch employs highly trained staff whose aim is to provide customers a premier rental experience. The branch is located at 2140 Tractor St., Paso Robles, Ca. 93446 and its hours of operation are Monday-Friday 7am to 5pm. Staff can be reached at telephone (805) 226-9035 or fax (805) 237-3745.

    About Hertz Equipment Rental Corporation
    Hertz Equipment Rental Corporation (www.hertzequip.com) – a wholly owned subsidiary of The Hertz Corporation since 1965 – operates one of the world’s largest equipment rental businesses, offering a diverse line of equipment and tools for rent and sale. Products include aerial manlifts, air compressors and tools, earthmoving equipment and power generators, forklifts and material handling equipment, pumps, and trucks and trailers. Hertz Equipment also offers programs and equipment through its customer programs for Aerial, Energy, Entertainment, Government, HERC360 Fleet Management, Industrial Plants, National Accounts and Safety. With approximately 360 locations in the United States, Canada, China, France, Spain and Saudi Arabia as well as through international licensees, Hertz Equipment Rental offers daily, weekly, monthly and long-term rentals, tools and supplies, as well as new and used equipment for sale.

    About The Hertz Corporation
    Hertz operates its car rental business through the Hertz, Dollar, Thrifty and Firefly brands from approximately 10,400 corporate, licensee and franchisee locations in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest worldwide airport general use car rental brand, operating from approximately 8,800 corporate and licensee locations in approximately 150 countries. Hertz is the number one airport car rental brand in the U.S. and at 111 major airports in Europe. Dollar and Thrifty have approximately 1,580 corporate and franchisee locations in approximately 80 countries. Hertz is an inaugural member of Travel + Leisure’s World’s Best Awards Hall of Fame and was recently named, for the thirteenth time, by the magazine’s readers as the Best Car Rental Agency. Hertz was also voted the Best Overall Car Rental Company in Zagat’s 2013/14 U.S. Car Rental Survey, earning top honors in 10 additional categories, and the Company swept the global awards for Best Rewards Program and Best Overall Benefits from FlyerTalk.com. Product and service initiatives such as Hertz Gold Plus Rewards, NeverLost®, and unique cars and SUVs offered through the Company’s Adrenaline, Prestige and Green Traveler Collections, also set Hertz apart from the competition. Additionally, Hertz owns the vehicle leasing and fleet management leader Donlen Corporation and operates the Hertz 24/7 hourly car rental business. Hertz also operates one of the world’s largest equipment rental businesses, Hertz Equipment Rental Corporation, through approximately 360 branches in the United States, Canada, Chile, China, France, Panama, Spain, and Saudi Arabia, as well as through its international licensees.

    Contact: Zoe White
    +44 1895 553 887
    zoewhite@hertz.com

    SOURCE The Hertz Corporation

  • Hertz To Attend SEMA Company Sponsors SCRS’ Repairer Driven Education Series

    Hertz To Attend SEMA Company Sponsors SCRS’ Repairer Driven Education Series

    PARK RIDGE, N.J., Oct. 28, 2013 /PRNewswire/ — The Hertz Corporation (NYSE: HTZ), the world’s largest general use car rental brand, announces its participation in this year’s Specialty Equipment Market Association (SEMA) trade show, a first for the car rental industry, being held in Las Vegas November 5 – 8, 2013. As part of its attendance, Hertz will be sponsoring the Society of Collision Repair Specialist’s (SCRS) Repairer Driven Education (RDE) Series.

    (Logo: http://photos.prnewswire.com/prnh/20130620/NY35609LOGO)

    "The collision repair industries are important to Hertz and our network of neighborhood locations," said Hertz Senior Vice President, John Holt. "With a network of approximately 3000 suburban locations, many located within auto repair shops, Hertz customers enjoy the flexibility of having a car available while theirs is in the shop. Our attendance at SEMA and our sponsorship of SCRS’ RDE educational series will be instrumental in growing the Hertz business, especially in the insurance replacement market, while educating attendees on the products and services Hertz offers to provide customers with the fastest and easiest car rental experience in the industry."

    "Growing the Collision Repair & Refinish footprint in the SEMA Show has been an area of focus for SCRS," stated SCRS Executive Director Aaron Schulenburg. "We couldn’t be more pleased that a longtime member of SCRS, such as Hertz, is bringing the value proposition of their unique services to the show as the first rental vehicle provider to be exhibiting at the SEMA Show."

    While at SEMA, Hertz will showcase products and services specifically tailored to the suburban market, including:

    Hertz 24/7: A revolutionary new ‘self-service’ rental experience available any time, day or night that allows customers to rent a wide variety of vehicles near their home or work when needed and for any length of time — hourly, daily, or weekly. Ideal for auto body shops and collision repair centers, Hertz 24/7 enables service providers to offer ‘After Hours’ car rental to their customers.

    Hertz Local Edition: Hertz’s network of neighborhood locations servicing the replacement, leisure and business customers and offering customers pickup and delivery service as well as ‘Key2Key’ service with cars conveniently located at auto body and collision repair shops, enabling customers to have access to a car while their car is in the shop.

    Hertz Technology: Committed to providing customers speed, ease and value with technological innovations and personalized service, unique customer services include:

    • Carfirmation: A mobile email/SMS text service – Mobile Gold Alerts — that confirms a Gold customer’s reservation, advises of their car, and its location at the Hertz facility. Mobile Gold Alerts also shows other available cars and upgrades and lets customers select the one they want – all via their mobile device.
    • Choose Control: Hertz Gold Choice gives the customer the power to keep the car they reserved or simply choose another, something no other car rental brand offers.
    • Zap Technology: Hertz e-Return is the fastest way to get customers, when they return, back on their way home. Hertz will email the customer’s receipt in a flash.
    • Acceler-Rental: Hertz is the first rental company to offer airport and neighborhood location customers the ability to rent cars through a live face-to-face video kiosk with Hertz ExpressRent™ kiosks.
    • Mobile Apps: As consumers are looking to mobile technologies as a way to take back control of their travel experience, from on-the-go bookings to instant upgrades.
      • Hertz Mobile App: Book, modify and search car rental reservations, find locations, and browse special deals and offers all from the palm of your hand.
      • Hertz NeverLost My Explore App: Users can plan their itinerary and navigate popular cities all on their smart phone and import it into a calendar or to the award-winning Hertz NeverLost® GPS.
      • Hertz 24/7 Mobile App: Customers have 24/7 access to a variety of vehicles when and where they need them with the ability to reserve a car or modify an existing reservation and view upcoming and previous reservations.

    Held throughout the duration of SEMA, SCRS’ RDE educational series presents attendees with a variety of programs that address the issues faced in today’s collision repair businesses. The education program is presented each day of the SEMA Show, and features some of the industry’s most respected subject matter experts.

    "In addition to ensuring that collision repairers find the most value in the exhibition halls, we appreciate that Hertz has continued their priority of supporting collision industry education through their sponsorship of SCRS’ Repairer Driven Education series. It is this kind of support that helps SCRS put thousands of collision repair professionals in front of the industry’s most well respected subject matter experts to help bring tangible solutions to improve their business. We’re proud of the caliber of companies we call partners and are thrilled to include Hertz in that list," commented Schulenburg.

    For 2013, SCRS’s RDE series features a variety of courses, including three new tracks, designed to address the trends reshaping the industry:

    1. Understanding your business: provides training around fundamental components of running a successful collision repair business.
    2. Enhancing your business: focuses on business development and improvement such as production techniques, office efficiency, and creating a turn-key business.
    3. Positioning your business: presents solutions on competing in the marketplace and selling one’s services.

    For more information visit Hertz online at www.hertz.com or, during SEMA, visit Booth #11069 to meet with a Hertz representative.

    About SCRS’ RDE Series
    REPAIRER DRIVEN EDUCATION (RDE) series features seminar offerings, many of which are uniquely designed and being offered only at the 2013 SEMA Show. The series will be offered either as individual sessions, or as a package, and registrants will have the option to attend seven regular session seminars which will be delivered between the hours of 12:30 p.m. and 5:00 p.m. each day of the show. Each of the courses has been individually selected by, or crafted for, SCRS because the content specifically focuses on information that is relevant to collision repair professionals and appeals to the diverse array of marketplace perspectives within the collision repair industry.

    About SCRS
    Through its direct members and 40 affiliate associations, SCRS is comprised of over 6,000 collision repair businesses and 58,500 specialized professionals who work with consumers and insurance companies to repair collision-damaged vehicles.

    About Hertz
    Hertz operates its car rental business through the Hertz, Dollar and Thrifty brands from approximately 10,400 corporate, licensee and franchisee locations in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest worldwide airport general use car rental brand, operating from approximately 8,800 corporate and licensee locations in approximately 150 countries. Hertz is the number one airport car rental brand in the U.S. and at 111 major airports in Europe. Dollar and Thrifty have approximately 1,580 corporate and franchisee locations in approximately 80 countries. Hertz is an inaugural member of Travel + Leisure’s World’s Best Awards Hall of Fame and was recently named, for the thirteenth time, by the magazine’s readers as the Best Car Rental Agency. Hertz was also voted the Best Overall Car Rental Company in Zagat’s 2013/14 U.S. Car Rental Survey, earning top honors in 10 additional categories, and the Company swept the global awards for Best Rewards Program and Best Overall Benefits from FlyerTalk.com. Product and services such as Hertz Gold Plus Rewards, NeverLost®, and unique cars and SUVs offered through the Company’s Adrenaline, Prestige and Green Traveler Collections, set Hertz apart from the competition. Additionally, Hertz owns the vehicle leasing and fleet management leader Donlen Corporation and operates a leading North American equipment rental business, Hertz Equipment Rental Corporation, which includes Hertz Entertainment Services.

    SOURCE The Hertz Corporation

  • Hertz Equipment Rental Wins Latin Builders Association’s 2013 Equipment Rental Company of The Year Award

    Hertz Equipment Rental Wins Latin Builders Association’s 2013 Equipment Rental Company of The Year Award

    PARK RIDGE, N.J., Oct. 25, 2013 /PRNewswire/ — The Hertz Corporation (NYSE: HTZ) has announced that the Latin Builders Association® (LBA), the largest Hispanic construction association in the United States, has recognized Hertz Equipment Rental Corporation (hertzequip.com) with the 2013 Equipment Rental Company of the Year award. The annual awards program, which is nominated and voted on by fellow LBA members and colleagues, honors companies who have made a significant positive impact on South Florida’s business community.

    Lois Boyd, Group President, Hertz Equipment Rental, said: "We feel very privileged to receive this distinguished award from the prestigious Latin Builders Association. We are proud to serve South Florida in a wide array of construction and industrial projects, and will continue to expand our support to customers in the region through new products and services, network growth, and additional staff. South Florida is also close to our hearts as Hertz is in the process of relocating its worldwide headquarters to Estero, Florida."

    Hertz Equipment Rental, a wholly owned subsidiary of The Hertz Corporation, operates one of the world’s largest equipment rental businesses. In South Florida, branches in Fort Myers, Lakeland, Miami, Orlando, Sarasota, Tampa, Tarpon Springs, and West Palm Beach, along with Jacksonville in North Florida provide a wide range equipment for rent or sale including aerial, compaction and paving, earth moving, generators, forklifts, trucks, trailers and small tools.

    The company has additional branches in Lakeland, Miami, and Orlando specially dedicated to providing high-quality equipment for pumping, power generation and energy distribution. Contractors typically use Hertz Pump & Power equipment for dewatering a construction site, bypassing a sewer line, transferring a tank or preparing for hurricanes, or providing portable power solutions for disaster relief or general construction.

    Established in 1971, The Latin Builders Association is a non-profit organization that encompasses a vast array of individuals and companies related to South Florida’s vibrant construction industry. With more than 750 member companies, the organization embodies the interests of builders, developers, contractors, architects, engineers, plumbers, electricians and tradesmen, providing a vital forum for discussion, networking, training/development, and representation at the local and state levels.

    About Hertz Equipment Rental Corporation
    Hertz Equipment Rental Corporation (www.hertzequip.com) – a wholly owned subsidiary of The Hertz Corporation since 1965 – operates one of the world’s largest equipment rental businesses, offering a diverse line of equipment and tools for rent and sale. Products include aerial manlifts, air compressors and tools, earthmoving equipment and power generators, forklifts and material handling equipment, pumps, and trucks and trailers. Hertz Equipment also offers programs and equipment through its customer programs for Aerial, Energy, Entertainment, Government, HERC360 Fleet Management, Industrial Plants, National Accounts and Safety. With approximately 360 locations in the United States, Canada, China, France, Spain and Saudi Arabia as well as through international licensees, Hertz Equipment Rental offers daily, weekly, monthly and long-term rentals, tools and supplies, as well as new and used equipment for sale.

    About The Hertz Corporation
    Hertz operates its car rental business through the Hertz, Dollar, Thrifty and Firefly brands from approximately 10,400 corporate, licensee and franchisee locations in North America, Europe, Latin America, Asia, Australia, Africa, the Middle East and New Zealand. Hertz is the largest worldwide airport general use car rental brand, operating from approximately 8,800 corporate and licensee locations in approximately 150 countries. Hertz is the number one airport car rental brand in the U.S. and at 111 major airports in Europe. Dollar and Thrifty have approximately 1,580 corporate and franchisee locations in approximately 80 countries. Hertz is an inaugural member of Travel + Leisure’s World’s Best Awards Hall of Fame and was recently named, for the thirteenth time, by the magazine’s readers as the Best Car Rental Agency. Hertz was also voted the Best Overall Car Rental Company in Zagat’s 2013/14 U.S. Car Rental Survey, earning top honors in 10 additional categories, and the Company swept the global awards for Best Rewards Program and Best Overall Benefits from FlyerTalk.com. Product and service initiatives such as Hertz Gold Plus Rewards, NeverLost®, and unique cars and SUVs offered through the Company’s Adrenaline, Prestige and Green Traveler Collections, also set Hertz apart from the competition. Additionally, Hertz owns the vehicle leasing and fleet management leader Donlen Corporation and operates the Hertz 24/7 hourly car rental business. Hertz also operates one of the world’s largest equipment rental businesses, Hertz Equipment Rental Corporation, through approximately 350 branches in the United States, Canada, China, France, Spain and Saudi Arabia, as well as through its international licensees.

    Contact: Zoe White
    +44 1895 553 887
    zoewhite@hertz.com

    SOURCE The Hertz Corporation