0001657853-24-000022 | 10-K | XBRL Viewer | Hertz Global Holdings INC

Other comprehensive income (loss)

365

366

(1)

(2)

Stock-based compensation charges

Cancellation of stock-based awards

(10)

Cancellation of common and treasury shares in exchange for new common shares (in shares)

(142,000,000)

(2,000,000)

Cancellation of common and treasury shares in exchange for new common shares

$ (2)

(98)

$ 100

Distributions to common stockholders

(239)

Contribution from Plan Sponsors (in shares)

277,000,000

Contributions from Plan Sponsors

2,781

$ 3

2,778

2021 Rights Offering, net (in shares)

181,000,000

2021 Rights Offering, net

1,802

$ 2

1,800

Public Warrant issuance

(800)

Preferred stock issuance, net

1,433

Repurchase of preferred stock, net

(1,883)

$ (1,433)

(450)

Public Warrant exercises (in shares)

5,000,000

Nasdaq listing and share repurchases (in shares)

180

^[1]

(27,000,000)

27,000,000

Nasdaq listing and share repurchases

^[1]

(717)

(9)

$ (708)

Distributions to noncontrolling interests

^[2]

(36)

Common stock, ending shares outstanding (in shares) at Dec. 31, 2021

450,000,000

Ending balance (in shares) at Dec. 31, 2021

27,000,000

Ending balance at Dec. 31, 2021

$ 2,977

2,977

$ 5

6,209

(2,315)

(214)

$ (708)

Preferred stock, shares outstanding (in shares) at Dec. 31, 2022

Ending balance at Dec. 31, 2022

$ 0

Increase (Decrease) in Stockholders' Equity

Other comprehensive income (loss)

2,059

(80)

Stock-based compensation charges

131

Net settlement on vesting of restricted stock

(20)

Share repurchases (in shares)

^[3]

(127,000,000)

(128,000,000)

Common stock, ending shares outstanding (in shares) at Dec. 31, 2022

^[3]

$ (2,428)

(2,428)

$ (2,428)

323,483,178

323,000,000

Ending balance (in shares) at Dec. 31, 2022

155,430,884

155,000,000

Ending balance at Dec. 31, 2022

$ 2,645

2,645

$ 5

6,326

(256)

(294)

$ (3,136)

Preferred stock, shares outstanding (in shares) at Dec. 31, 2023

Ending balance at Dec. 31, 2023

$ 0

Increase (Decrease) in Stockholders' Equity

Other comprehensive income (loss)

616

Stock-based compensation charges

Net settlement on vesting of restricted stock

(9)

$ 1

(9)

Share repurchases (in shares)

^[3]

(19,000,000)

(20,000,000)

Common stock, ending shares outstanding (in shares) at Dec. 31, 2023

^[3]

$ (294)

(294)

$ (294)

305,178,242

305,000,000

Ending balance (in shares) at Dec. 31, 2023

174,812,044

175,000,000

Ending balance at Dec. 31, 2023

$ 3,092

$ 5

$ 6,405

$ 360

$ (248)

$ (3,430)

$ 0

[1]	See also "Share Repurchase Programs for Common Stock" in Note 16, "Equity and Earnings (Loss) Per Common Share – Hertz Global."
[2]	Effective October 31, 2021, the 767 lease agreement was terminated. See Note 3, "Divestitures."
[3]	The amounts presented herein may be rounded to agree to amounts in the consolidated balance sheet. Also see "Share Repurchase Programs for Common Stock" in Note 16, "Equity and Earnings (Loss) Per Common Share – Hertz Global.

Revenue Earning Vehicles - Narrative (Details) - EV Disposal Group - Disposal Group, Held-for-Sale, Not Discontinued Operations $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Long-Lived Assets Held-for-sale [Line Items]
Disposal group, including discontinued operation, property, plant and equipment, current	$ 542
Write-down on disposal group	$ 245

Cover page - USD ($) $ in Billions	12 Months Ended
Cover page - USD ($) $ in Billions	Dec. 31, 2023	Feb. 07, 2024	Jun. 30, 2023
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-37665
Entity Registrant Name	HERTZ GLOBAL HOLDINGS, INC
Entity Address, Address Description	8501 Williams Road,
Entity Address, City or Town	Estero,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33928
City Area Code	(239)
Local Phone Number	301-7000
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	61-1770902
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 2.4
Entity Bankruptcy Proceedings, Reporting Current	true
Entity Common Stock, Shares Outstanding		305,296,256
Documents Incorporated by Reference	Information required by Items 10, 11, 12 and 13 of Part III of this Form 10-K is incorporated by reference to Hertz Global Holdings, Inc.'s definitive proxy statement for its 2024 Annual Meeting of Stockholders. Hertz Global Holdings, Inc. intends to file such proxy statement with the Securities and Exchange Commission no later than 120 days after its fiscal year ended December 31, 2023.
Entity Central Index Key	0001657853
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common Stock
Trading Symbol	HTZ
Security Exchange Name	NASDAQ
Warrants
Entity Information [Line Items]
Title of 12(b) Security	Warrants to purchase Common Stock
Trading Symbol	HTZWW
Security Exchange Name	NASDAQ
The Hertz Corporation
Entity Information [Line Items]
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Entity File Number	001-07541
Entity Registrant Name	THE HERTZ CORPORATION
Entity Address, Address Description	8501 Williams Road,
Entity Address, City or Town	Estero,
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33928
City Area Code	(239)
Local Phone Number	301-7000
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	13-1938568
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	Yes
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		100
Documents Incorporated by Reference	None
Entity Central Index Key	0000047129
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Income Tax (Provision) Benefit (Schedule of Components of Income Before Income Taxes) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Contingency [Line Items]
Domestic	$ 180	$ 2,120	$ 710
Foreign	106	329	(27)
Income (loss) before income taxes	286	2,449	683
The Hertz Corporation
Income Tax Contingency [Line Items]
Domestic	17	1,416	1,501
Foreign	106	329	(27)
Income (loss) before income taxes	$ 123	$ 1,745	$ 1,474

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Revenue Earning Vehicles (Tables)

12 Months Ended

Dec. 31, 2023

Revenue from Contract with Customer [Abstract]

Schedule of Components of Revenue Earning Vehicles, Net

The components of revenue earning vehicles, net are as follows:


	December 31,
(In millions)	2023		2022
Revenue earning vehicles	$	16,164	$	13,654
Less accumulated depreciation	(2,155)		(1,649)
	14,009		12,005
Revenue earning vehicles held for sale, net(1)	642		490
Revenue earning vehicles, net	$	14,651	$	12,495

(1) Represents the carrying amount of vehicles classified as held for sale as of the respective balance sheet date, including the EV Disposal Group as disclosed below.

Schedule Of Depreciation Of Revenue Earning Vehicles And Lease Charges

Depreciation of revenue earning vehicles and lease charges, net includes the following:


	Years ended December 31,
(In millions)	2023		2022		2021
Depreciation of revenue earning vehicles	$	1,853	$	1,806	$	963
(Gain) loss on disposal of revenue earning vehicles(1)	157		(1,125)		(502)
Rents paid for vehicles leased	29		20		36
Depreciation of revenue earning vehicles and lease charges, net	$	2,039	$	701	$	497

(1) Includes the write-down to fair value for vehicles classified as held for sale, including the EV Disposal Group as disclosed below, for the year ended December 31, 2023.

Revenue Earning Vehicles - Schedule of Depreciation of Revenue Earning Vehicles and Lease Charges (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Depreciation of revenue earning vehicles	$ 1,853	$ 1,806	$ 963
(Gain) loss on disposal of revenue earning vehicles(1)	157	(1,125)	(502)
Rents paid for vehicles leased	29	20	36
Depreciation of revenue earning vehicles and lease charges, net	$ 2,039	$ 701	$ 497

Leases (Narrative) (Details)	12 Months Ended
Leases (Narrative) (Details)	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Remaining economic life of underlying asset	75.00%
Economic life of underlying asset	25.00%
Fair value of underlying asset	90.00%
Lessor, operating lease, renewal term	1 month
Minimum
Lessee, Lease, Description [Line Items]
Operating lease terms	1 month
Maximum
Lessee, Lease, Description [Line Items]
Operating lease terms	35 years

Debt (Schedule of Debt) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument
Outstanding principal	$ 15,691	$ 13,863
Long-term debt and lease obligation	15,691	13,863
Non-Vehicle Related Debt
Debt Instrument
Unamortized Debt Issuance Costs and Net (Discount) Premium	(66)	(58)
Total Non-Vehicle Debt	$ 3,449	2,977
Term B Loan \| Medium-term Notes
Debt Instrument
Weighted average interest rate	8.69%
Outstanding principal	$ 1,268	1,281
Long-term debt and lease obligation	$ 1,268	1,281
Incremental Term B Loan \| Medium-term Notes
Debt Instrument
Weighted average interest rate	9.09%
Outstanding principal	$ 500	0
Long-term debt and lease obligation	$ 500	0
Term C Loan \| Medium-term Notes
Debt Instrument
Weighted average interest rate	8.69%
Outstanding principal	$ 245	245
Long-term debt and lease obligation	$ 245	245
Senior Notes Due 2026 \| Senior Notes
Debt Instrument
Weighted average interest rate	4.63%
Outstanding principal	$ 500	500
Long-term debt and lease obligation	$ 500	500
Senior Notes Due 2029 \| Senior Notes
Debt Instrument
Weighted average interest rate	5.00%
Outstanding principal	$ 1,000	1,000
Long-term debt and lease obligation	1,000	1,000
First Lien RCF \| Line of Credit \| Revolving Credit Facility
Debt Instrument
Outstanding principal	0	0
Long-term debt and lease obligation	$ 0	0
Other Non-Vehicle Debt
Debt Instrument
Weighted average interest rate	5.71%
Outstanding principal	$ 2	9
Long-term debt and lease obligation	2	9
Finance lease liability	8	6
Vehicle-Related Debt
Debt Instrument
Outstanding principal	12,242	10,886
Unamortized Debt Issuance Costs and Net (Discount) Premium	(72)	(62)
Long-term debt and lease obligation	12,242	10,886
HVF III U.S. Vehicle Variable Funding Notes
Debt Instrument
Outstanding principal	1,680	2,551
Long-term debt and lease obligation	$ 1,680	2,551
HVF III Series 2021-A Class A
Debt Instrument
Weighted average interest rate	6.99%
Outstanding principal	$ 1,492	2,363
Long-term debt and lease obligation	$ 1,492	2,363
HVF III Series 2021-A Class B
Debt Instrument
Weighted average interest rate	9.44%
Outstanding principal	$ 188	188
Long-term debt and lease obligation	188	188
HVF III U.S. Vehicle Medium Term Notes
Debt Instrument
Outstanding principal	8,523	6,769
Long-term debt and lease obligation	$ 8,523	6,769
HVF III Series 2021-1 \| Medium-term Notes
Debt Instrument
Weighted average interest rate	1.66%
Outstanding principal	$ 2,000	2,000
Long-term debt and lease obligation	$ 2,000	2,000
HVF III Series 2021-2 \| Medium-term Notes
Debt Instrument
Weighted average interest rate	2.12%
Outstanding principal	$ 2,000	2,000
Long-term debt and lease obligation	$ 2,000	2,000
HVF III Series 2022-1 \| Medium-term Notes
Debt Instrument
Weighted average interest rate	2.44%
Outstanding principal	$ 750	750
Long-term debt and lease obligation	$ 750	750
HVF III Series 2022-2 \| Medium-term Notes
Debt Instrument
Weighted average interest rate	2.78%
Outstanding principal	$ 750	652
Long-term debt and lease obligation	$ 750	652
HVF III Series 2022-3 \| Medium-term Notes
Debt Instrument
Weighted average interest rate	3.89%
Outstanding principal	$ 192	383
Long-term debt and lease obligation	$ 192	383
HVF III Series 2022-4 \| Medium-term Notes
Debt Instrument
Weighted average interest rate	4.22%
Outstanding principal	$ 667	667
Long-term debt and lease obligation	$ 667	667
HVF III Series 2022-5 \| Medium-term Notes
Debt Instrument
Weighted average interest rate	4.39%
Outstanding principal	$ 364	317
Long-term debt and lease obligation	$ 364	317
HVF III Series 2023-1 \| Medium-term Notes
Debt Instrument
Weighted average interest rate	6.17%
Outstanding principal	$ 500	0
Long-term debt and lease obligation	$ 500	0
HVF III Series 2023-2 \| Medium-term Notes
Debt Instrument
Weighted average interest rate	6.30%
Outstanding principal	$ 300	0
Long-term debt and lease obligation	$ 300	0
HVF III Series 2023-3 \| Medium-term Notes
Debt Instrument
Weighted average interest rate	6.46%
Outstanding principal	$ 500	0
Long-term debt and lease obligation	$ 500	0
HVF III Series 2023-4 \| Medium-term Notes
Debt Instrument
Weighted average interest rate	6.66%
Outstanding principal	$ 500	0
Long-term debt and lease obligation	500	0
Repurchase Facility
Debt Instrument
Outstanding principal	0	86
Long-term debt and lease obligation	$ 0	86
European ABS
Debt Instrument
Weighted average interest rate	5.80%
Outstanding principal	$ 1,205	811
Long-term debt and lease obligation	$ 1,205	811
Hertz Canadian Securitization
Debt Instrument
Weighted average interest rate	6.95%
Outstanding principal	$ 350	283
Long-term debt and lease obligation	$ 350	283
Australian Securitization
Debt Instrument
Weighted average interest rate	5.95%
Outstanding principal	$ 203	168
Long-term debt and lease obligation	$ 203	168
New Zealand RCF \| Line of Credit \| Revolving Credit Facility
Debt Instrument
Weighted average interest rate	8.47%
Outstanding principal	$ 70	54
Long-term debt and lease obligation	$ 70	54
U.K. Financing Facility
Debt Instrument
Weighted average interest rate	7.85%
Outstanding principal	$ 173	101
Long-term debt and lease obligation	$ 173	101
Other Vehicle Debt
Debt Instrument
Weighted average interest rate	5.17%
Outstanding principal	$ 110	125
Long-term debt and lease obligation	110	125
Finance lease liability	104	76
Other Fleet Debt
Debt Instrument
Outstanding principal	2,111	1,628
Long-term debt and lease obligation	$ 2,111	$ 1,628

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Accounting Policies [Abstract]

Schedule of Property, Plant and Equipment

The Company's property and equipment, net consisted of the following:


(In millions)	December 31, 2023		December 31, 2022
Land, buildings and leasehold improvements	$	1,014	$	990
Service vehicles, equipment and furniture and fixtures	430		392
Less: accumulated depreciation	(773)		(745)
Total property and equipment, net	$	671	$	637

Schedule of Estimated Useful Lives of Depreciable Assets

Property and equipment are stated at cost and are depreciated utilizing the straight-line method over the estimated useful lives of the related assets. Estimated useful lives are as follows:


Buildings			1 to 50 years
Furniture and fixtures			1 to 5 years
Service vehicles and equipment			1 to 25 years
Leasehold improvements			The lesser of the economic life or the lease term

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Share Repurchase) (Details) - USD ($)
$ in Millions

7 Months Ended

12 Months Ended

13 Months Ended

19 Months Ended

Dec. 31, 2022

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Feb. 06, 2024

Dec. 31, 2023

Condensed Financial Statements, Captions [Line Items]

Aggregate purchase price

^[1]

$ 717

Share Repurchase Program 2022

$ 315

$ 2,461

654

Condensed Financial Statements, Captions [Line Items]

Shares repurchased (in shares)

47,303,009

19,381,160

66,684,169

Condensed Financial Statements, Captions [Line Items]

$ 835

$ 291

$ 1,100

Subsequent Event

Shares repurchased (in shares)

Hertz Global Holdings

Condensed Financial Statements, Captions [Line Items]

Shares repurchased (in shares)

127,980,030

Aggregate purchase price

$ 2,400

Cash flows from operating activities:

$ 315

$ 2,461

$ 654

[1]	See also "Share Repurchase Programs for Common Stock" in Note 16, "Equity and Earnings (Loss) Per Common Share – Hertz Global."

Earnings (Loss) Per Common Share – Hertz Global (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Numerator:
Net income (loss) attributable to Hertz Global	$ 616	$ 2,059	$ 366
Net income (loss) available to Hertz Global common stockholders	616	2,059	(84)
Change in fair value of Public Warrants	(163)	(704)	0
Net income (loss) available to Hertz Global common stockholders, diluted	$ 452	$ 1,355	$ (84)
Denominator:
Basic weighted-average shares outstanding (in shares)	313	379	315
Dilutive stock options, RSUs and PSUs (in shares)	1	1	0
Dilutive effect of Public Warrants (in shares)	11	23	0
Diluted weighted-average shares outstanding (in shares)	326	403	315
Antidilutive stock options, RSUs, PSUs, and PSAs (in shares)	6	6	15
Earnings (loss) per common share:
Basic (in dollars per share)	$ 1.97	$ 5.43	$ (0.27)
Diluted (in dollars per share)	$ 1.39	$ 3.36	$ (0.27)
Public warrants
Denominator:
Antidilutive stock options, RSUs, PSUs, and PSAs (in shares)	0	0	14
Stock options, RSUs, PSUs and PSAs
Denominator:
Antidilutive stock options, RSUs, PSUs, and PSAs (in shares)	6	6	1
Series A Preferred Stock
Numerator:
Series A Preferred Stock deemed dividends	$ 0	$ 0	$ (450)

Debt (Schedule of Debt Sold to Third Parties) (Details) - Medium-term Notes $ in Millions	Sep. 30, 2023 USD ($)
Debt Instrument
Aggregate Principal Amount	$ 185
HVF III Series 2022-2 Class D Notes
Debt Instrument
Aggregate Principal Amount	98
HVF III Series 2022-5 Class D Notes
Debt Instrument
Aggregate Principal Amount	47
HVF III Series 2023-1 Class D Notes
Debt Instrument
Aggregate Principal Amount	$ 40

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
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+ Details

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Statements of Cash Flows) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from financing activities:
Proceeds from Plan Sponsors	$ 0	$ 0	$ 2,781
Proceeds from 2021 Rights Offering, net	0	0	1,639
Proceeds from exercises of Public Warrants	0	3	77
Proceeds from issuance of preferred stock, net	0	0	1,433
Distributions to common stockholders	0	0	(239)
Share repurchases	(315)	(2,461)	(654)
Repurchase of preferred stock	0	0	(1,883)
Dividends from Hertz			38
Other	(9)	(20)	(9)
Net cash provided by (used in) financing activities	1,313	487	2,845
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period	1,418
Cash and cash equivalents and restricted cash and cash equivalents at end of period	1,206	1,418
Hertz Global Holdings
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	3	0	0
Cash flows from financing activities:
Proceeds from Plan Sponsors	0	0	2,781
Proceeds from 2021 Rights Offering, net	0	0	1,639
Contributions to Hertz	0	0	(5,642)
Proceeds from exercises of Public Warrants	0	3	77
Proceeds from issuance of preferred stock, net	0	0	1,433
Distributions to common stockholders	0	0	(239)
Share repurchases	(315)	(2,461)	(654)
Repurchase of preferred stock	0	0	(1,883)
Dividends from Hertz	321	2,477	2,470
Other	(9)	(20)	(9)
Net cash provided by (used in) financing activities	(3)	(1)	(27)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period	0	(1)	(27)
Cash and cash equivalents and restricted cash and cash equivalents at beginning of period	0	1	28
Cash and cash equivalents and restricted cash and cash equivalents at end of period	$ 0	$ 0	$ 1

HGH - CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions

12 Months Ended

Dec. 31, 2023

Dec. 31, 2022

Dec. 31, 2021

Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:

$ 616

$ 2,059

$ 365

Depreciation and reserves for revenue earning vehicles, net

2,422

809

600

Depreciation and amortization, non-vehicle

149

142

196

Amortization of deferred financing costs and debt discount (premium)

122

Loss on extinguishment of debt

Employee compensation expense

130

Provision for receivables allowance

125

Deferred income taxes, net

(380)

301

270

Reorganization items, net

314

(Gain) loss from the sale of a business

(400)

(Gain) loss on sale of non-vehicle capital assets

(162)

(5)

(8)

Change in fair value of Public Warrants

(163)

(704)

627

Changes in financial instruments

117

(111)

(4)

Other

(1)

Changes in assets and liabilities:

Non-vehicle receivables

(216)

(264)

(210)

Prepaid expenses and other assets

(39)

(126)

(20)

Operating lease right-of-use assets

365

280

274

Non-vehicle accounts payable

(48)

(70)

Accrued liabilities

(39)

(108)

Accrued taxes, net

Operating lease liabilities

(391)

(309)

(291)

Self-insured liabilities

(6)

(17)

Net cash provided by (used in) operating activities

2,474

2,538

1,806

Cash flows from investing activities:

Revenue earning vehicles expenditures

(9,514)

(10,596)

(7,154)

Proceeds from disposal of revenue earning vehicles

5,498

6,498

2,818

Non-vehicle capital asset expenditures

(188)

(150)

(71)

Proceeds from disposal of non-vehicle capital assets

181

Collateral payments

(303)

Collateral returned in exchange for letters of credit

280

Return of (investment in) equity investments

(1)

(16)

Proceeds from the sale of a business, net of cash sold

871

Other

(1)

Net cash provided by (used in) investing activities

(4,024)

(4,233)

(3,544)

Cash flows from financing activities:

Payment of financing costs

(41)

(48)

(185)

Proceeds from Plan Sponsors

2,781

Early redemption premium payment

(85)

Proceeds from exercises of Public Warrants

Proceeds from issuance of preferred stock, net

1,433

Distributions to common stockholders

(239)

Contributions from (distributions to) noncontrolling interests

(38)

Proceeds from 2021 Rights Offering, net

1,639

Repurchase of preferred stock

(315)

(2,461)

(654)

(1,883)

Other

(9)

(20)

(9)

Net cash provided by (used in) financing activities

1,313

487

2,845

Effect of foreign currency exchange rate changes on cash and cash equivalents and restricted cash and cash equivalents

(25)

(34)

Net increase (decrease) in cash and cash equivalents and restricted cash and cash equivalents during the period

(212)

(1,233)

1,073

Cash and cash equivalents and restricted cash and cash equivalents at beginning of period

^[1]

1,418

2,651

1,578

Cash and cash equivalents and restricted cash and cash equivalents at end of period

^[1]

1,206

1,418

2,651

Cash paid during the period for:

Income taxes, net of refunds

Operating lease liabilities

547

454

472

Supplemental disclosures of non-cash information:

Purchases of revenue earning vehicles included in accounts payable, net of incentives

171

Sales of revenue earning vehicles included in vehicle receivables

191

Purchases of non-vehicle capital assets included in accounts payable

Revenue earning vehicles and non-vehicle capital assets acquired through finance leases

Operating lease right-of-use assets obtained in exchange for lease liabilities

721

614

177

Public Warrants issuance

800