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Document and Entity Information - USD ($) $ in Billions	12 Months Ended
Document and Entity Information - USD ($) $ in Billions	Dec. 31, 2016	Mar. 01, 2017	Jun. 30, 2016
Entity Information [Line Items]
Entity Registrant Name	HERTZ GLOBAL HOLDINGS, INC
Entity Central Index Key	0001657853
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		83,034,166
Entity Public Float			$ 4.7
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY
Entity Well-known Seasoned Issuer	No
The Hertz Corporation
Entity Information [Line Items]
Entity Registrant Name	HERTZ CORP
Entity Central Index Key	0000047129
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		100
Entity Public Float
Document Fiscal Year Focus	2016
Document Fiscal Period Focus	FY

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 816	$ 474
Vehicle	278	333
Non-vehicle, net of allowance of $42 and $36, respectively	1,283	1,786
Prepaid expenses and other assets	578	995
Vehicles	13,655	13,441
Less accumulated depreciation	(2,837)	(2,695)
Total revenue earning vehicles, net	10,818	10,746
Property and equipment:
Land, buildings and leasehold improvements	1,165	1,165
Service equipment and other	724	790
Less accumulated depreciation	(1,031)	(978)
Total Property and equipment, net	858	977
Other intangible assets, net	3,332	3,522
Goodwill	1,081	1,261
Assets held for sale	111	25
Assets of discontinued operations	0	3,395
Total assets	19,155	23,514
LIABILITIES AND EQUITY
Total accounts payable	821	766
Accrued liabilities	980	1,035
Accrued taxes, net	165	128
Total debt	13,541	15,770
Public liability and property damage	407	394
Deferred income taxes, net	2,149	2,168
Liabilities held for sale	17	0
Liabilities of discontinued operations	0	1,234
Total liabilities	18,080	21,495
Commitments and contingencies
Equity:
Preferred Stock, $0.01 par value, no shares issued and outstanding	0	0
Common stock issued	1	4
Additional paid-in capital	2,227	3,343
Accumulated deficit	(882)	(391)
Accumulated other comprehensive income (loss)	(171)	(245)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,175	2,711
Treasury Stock, at cost, 2 shares and 41 shares	(100)	(692)
Total equity	1,075	2,019
Total liabilities and equity	19,155	23,514
Vehicle Related Service
ASSETS
Vehicle	235	289
Non-vehicle, net of allowance of $42 and $36, respectively	546	1,137
LIABILITIES AND EQUITY
Total accounts payable	258	207
Total debt	9,646	9,823
Non-Vehicle Related Service
ASSETS
Vehicle	43	44
Non-vehicle, net of allowance of $42 and $36, respectively	737	649
LIABILITIES AND EQUITY
Total accounts payable	563	559
Total debt	3,895	5,947
The Hertz Corporation
ASSETS
Cash and cash equivalents	816	474
Vehicle	278	333
Non-vehicle, net of allowance of $42 and $36, respectively	1,283	1,786
Prepaid expenses and other assets	578	995
Vehicles	13,655	13,441
Less accumulated depreciation	(2,837)	(2,695)
Total revenue earning vehicles, net	10,818	10,746
Property and equipment:
Land, buildings and leasehold improvements	1,165	1,165
Service equipment and other	724	790
Less accumulated depreciation	(1,031)	(978)
Total Property and equipment, net	858	977
Other intangible assets, net	3,332	3,522
Goodwill	1,081	1,261
Assets held for sale	111	25
Assets of discontinued operations	0	3,390
Total assets	19,155	23,509
LIABILITIES AND EQUITY
Total accounts payable	821	766
Accrued liabilities	980	1,035
Accrued taxes, net	165	128
Total debt	13,541	15,770
Public liability and property damage	407	394
Deferred income taxes, net	2,149	2,168
Liabilities held for sale	17	0
Liabilities of discontinued operations	0	1,300
Total liabilities	18,080	21,561
Commitments and contingencies
Equity:
Common stock issued	0	0
Additional paid-in capital	3,150	3,583
Due from affiliate	(37)	(345)
Accumulated deficit	(1,867)	(1,045)
Accumulated other comprehensive income (loss)	(171)	(245)
Total equity	1,075	1,948
Total liabilities and equity	19,155	23,509
The Hertz Corporation \| Vehicle Related Service
ASSETS
Vehicle	235	289
Non-vehicle, net of allowance of $42 and $36, respectively	546	1,137
LIABILITIES AND EQUITY
Total accounts payable	258	207
Total debt	9,646	9,823
The Hertz Corporation \| Non-Vehicle Related Service
ASSETS
Vehicle	43	44
Non-vehicle, net of allowance of $42 and $36, respectively	737	649
LIABILITIES AND EQUITY
Total accounts payable	563	559
Total debt	$ 3,895	$ 5,947

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Receivables, allowance for doubtful accounts (in dollars)	$ 42	$ 36
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares issued	85,000,000	464,000,000
Common Stock, shares outstanding	83,000,000	423,000,000
Treasury stock, shares	2,000,000	41,000,000
The Hertz Corporation
Receivables, allowance for doubtful accounts (in dollars)	$ 42	$ 36
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares authorized	3,000	3,000
Common Stock, shares issued	100	100
Common Stock, shares outstanding	100	100

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Worldwide vehicle rental	$ 8,211	$ 8,434	$ 8,907
All other operations	592	583	568
Total revenues	8,803	9,017	9,475
Expenses:
Direct vehicle and operating	4,932	5,055	5,458
Depreciation of revenue earning vehicles and lease charges, net	2,601	2,433	2,705
Selling, general and administrative	899	873	936
Interest expense, net:
Vehicle	280	253	277
Non-vehicle	344	346	340
Total interest expense, net	624	599	617
Goodwill and intangible asset impairments	292	40	0
Other (income) expense, net	(75)	(115)	(10)
Total expenses	9,273	8,885	9,706
Income (loss) from continuing operations before income taxes	(470)	132	(231)
Income tax (provision) benefit	(4)	(17)	17
Net income (loss) from continuing operations	(474)	115	(214)
Net income (loss) from discontinued operations	(17)	158	132
Net income (loss)	$ (491)	$ 273	$ (82)
Weighted average shares outstanding:
Basic (in shares)	84	90	91
Diluted (in shares)	84	91	91
Earnings (loss) per share - basic and diluted:
Basic earnings (loss) per share from continuing operations (in dollars per share)	$ (5.65)	$ 1.28	$ (2.35)
Basic earnings (loss) per share from discontinued operations (in dollars per share)	(0.20)	1.75	1.45
Basic earnings (loss) per share (in dollars per share)	(5.85)	3.03	(0.90)
Diluted earnings (loss) per share from continuing operations (in dollars per share)	(5.65)	1.26	(2.35)
Diluted earnings (loss) per share from discontinued operations (in dollars per share)	(0.20)	1.74	1.45
Diluted earnings (loss) per share (in dollars per share)	$ (5.85)	$ 3.00	$ (0.90)
The Hertz Corporation
Revenues:
Worldwide vehicle rental	$ 8,211	$ 8,434	$ 8,907
All other operations	592	583	568
Total revenues	8,803	9,017	9,475
Expenses:
Direct vehicle and operating	4,932	5,055	5,458
Depreciation of revenue earning vehicles and lease charges, net	2,601	2,433	2,705
Selling, general and administrative	899	873	936
Interest expense, net:
Vehicle	280	253	277
Non-vehicle	343	346	340
Total interest expense, net	623	599	617
Goodwill and intangible asset impairments	292	40	0
Other (income) expense, net	(75)	(115)	(10)
Total expenses	9,272	8,885	9,706
Income (loss) from continuing operations before income taxes	(469)	132	(231)
Income tax (provision) benefit	(4)	(17)	17
Net income (loss) from continuing operations	(473)	115	(214)
Net income (loss) from discontinued operations	(15)	161	136
Net income (loss)	$ (488)	$ 276	$ (78)

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Net income (loss)	$ (491)	$ 273	$ (82)
Other comprehensive income (loss):
Foreign currency translation adjustments	(16)	(87)	(57)
Reclassification of foreign currency items to other (income) expense, net	0	(42)	0
Unrealized holding gains (losses) on securities	12	0	(14)
Reclassification of net unrealized gains on securities to prepaid expense and other assets	(9)	0	0
Reclassification of net unrealized gains on securities to prepaid expense and other assets	0	0	(7)
Net gain (loss) on defined benefit pension plans	(30)	(23)	(41)
Reclassification from other comprehensive income (loss) to selling, general and administrative expense for amortization of actuarial (gains) losses on defined benefit pension plans	11	9	(11)
Total other comprehensive income (loss), before income taxes	(32)	(143)	(130)
Income tax (provision) benefit related to net gains and losses on defined benefit pension plans	7	15	7
Income tax (provision) benefit related to reclassified amounts of net periodic costs on defined benefit pension plans	(4)	(2)	2
Total other comprehensive income (loss)	(29)	(130)	(121)
Total comprehensive income (loss)	(520)	143	(203)
The Hertz Corporation
Net income (loss)	(488)	276	(78)
Other comprehensive income (loss):
Foreign currency translation adjustments	(16)	(87)	(57)
Reclassification of foreign currency items to other (income) expense, net	0	(42)	0
Unrealized holding gains (losses) on securities	12	0	(14)
Reclassification of net unrealized gains on securities to prepaid expense and other assets	(9)	0	0
Reclassification of net unrealized gains on securities to prepaid expense and other assets	0	0	(7)
Net gain (loss) on defined benefit pension plans	(30)	(23)	(41)
Reclassification from other comprehensive income (loss) to selling, general and administrative expense for amortization of actuarial (gains) losses on defined benefit pension plans	11	9	(11)
Total other comprehensive income (loss), before income taxes	(32)	(143)	(130)
Income tax (provision) benefit related to net gains and losses on defined benefit pension plans	7	15	7
Income tax (provision) benefit related to reclassified amounts of net periodic costs on defined benefit pension plans	(4)	(2)	2
Total other comprehensive income (loss)	(29)	(130)	(121)
Total comprehensive income (loss)	$ (517)	$ 146	$ (199)

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($) $ in Thousands	Total	The Hertz Corporation	Preferred Stock	Common Stock Shares	Common Stock Shares The Hertz Corporation	Additional Paid-In Capital	Additional Paid-In Capital The Hertz Corporation	Due From Affiliate The Hertz Corporation	Accumulated Deficit	Accumulated Deficit The Hertz Corporation	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The Hertz Corporation	Treasury Stock
Beginning Balance (Shares) at Dec. 31, 2013				446,000,000	100								4,000,000
Beginning Balance at Dec. 31, 2013	$ 2,567,000	$ 2,680,000	$ 0	$ 4,000	$ 0	$ 3,226,000	$ 3,552,000	$ 0	$ (582,000)	$ (878,000)	$ 6,000	$ 6,000	$ (87,000)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(82,000)	(78,000)							(82,000)	(78,000)
Other comprehensive loss	(121,000)	(121,000)									(121,000)	(121,000)
Proceeds from employee stock purchase plan	4,000	4,000				4,000	4,000
Net settlement on vesting of restricted stock (Shares)				1,000,000
Net settlement on vesting of restricted stock	(17,000)					(17,000)
Conversion of Convertible Senior Notes (Shares)				10,000,000
Conversion of Convertible Senior Notes	85,000			$ 1,000		84,000
Stock-based employee compensation charges	9,000	9,000				9,000	9,000
Exercise of stock options (Shares)				2,000,000
Exercise of stock options	18,000					18,000
Common shares issued to Directors	1,000	1,000				1,000	1,000
Ending Balance (Shares) at Dec. 31, 2014				459,000,000	100								4,000,000
Ending Balance at Dec. 31, 2014	2,464,000	2,495,000	0	$ 5,000	$ 0	3,325,000	3,566,000	0	(664,000)	(956,000)	(115,000)	(115,000)	$ (87,000)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	273,000	276,000							273,000	276,000
Due from affiliate		(345,000)						(345,000)
Other comprehensive loss	(130,000)	(130,000)									(130,000)	(130,000)
Net settlement on vesting of restricted stock (Shares)				1,000,000
Net settlement on vesting of restricted stock	(4,000)					(4,000)
Stock-based employee compensation charges	17,000	17,000				17,000	17,000
Exercise of stock options (Shares)				0
Exercise of stock options	5,000					5,000
Dividends paid to Old Hertz Holdings		(365,000)								(365,000)
Share repurchase (Shares)				(37,000,000)									(37,000,000)
Share Repurchase	(606,000)			$ (1,000)									$ (605,000)
Ending Balance (Shares) at Dec. 31, 2015				423,000,000	100								41,000,000
Ending Balance at Dec. 31, 2015	2,019,000	1,948,000	0	$ 4,000	$ 0	3,343,000	3,583,000	(345,000)	(391,000)	(1,045,000)	(245,000)	(245,000)	$ (692,000)
Increase (Decrease) in Stockholders' Equity
Net income (loss)	(491,000)	(488,000)							(491,000)	(488,000)
Due from affiliate		(26,000)						(26,000)
Other comprehensive loss	(29,000)	(29,000)									(29,000)	(29,000)
Net settlement on vesting of restricted stock	(2,000)					(2,000)
Stock-based employee compensation charges	14,000	14,000				14,000	14,000
Exercise of stock options (Shares)				1,000,000
Exercise of stock options	10,000					10,000
Common shares issued to Directors	1,000	1,000				1,000	1,000
Dividends paid to Old Hertz Holdings		0						334,000		(334,000)
Share repurchase (Shares)				(2,000,000)									(2,000,000)
Share Repurchase	(100,000)												$ (100,000)
Capital effect of spin-off (Shares)				(339,000,000)									(41,000,000)
Capital effect of Spin-Off				$ (3,000)		(689,000)							$ 692,000
Distribution of Herc Rentals Inc.	(347,000)	(345,000)				(450,000)	(448,000)				103,000	103,000
Ending Balance (Shares) at Dec. 31, 2016				83,000,000	100								2,000,000
Ending Balance at Dec. 31, 2016	$ 1,075,000	$ 1,075,000	$ 0	$ 1,000	$ 0	$ 2,227,000	$ 3,150,000	$ (37,000)	$ (882,000)	$ (1,867,000)	$ (171,000)	$ (171,000)	$ (100,000)

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash flows from operating activities:
Net income (loss)	$ (491)	$ 273	$ (82)
Net income (loss) from discontinued operations	(17)	158	132
Net income (loss) from continuing operations	(474)	115	(214)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation of revenue earning vehicles, net	2,531	2,361	2,625
Depreciation and amortization, non-vehicle	265	274	291
Amortization and write-off of deferred financing costs	45	55	51
Amortization and write-off of debt discount (premium)	3	(1)	(13)
Loss on extinguishment of debt	55	0	1
Stock-based compensation charges	13	16	10
Provision for receivables allowance	51	36	38
Deferred income taxes, net	(78)	11	(23)
Impairment charges and asset write-downs	340	70	37
(Gain) loss on sale of shares in equity investment	(84)	(133)	0
Other	8	(7)	(10)
Changes in assets and liabilities:
Non-vehicle receivables	(174)	(62)	(42)
Prepaid expenses and other assets	(31)	(11)	(53)
Non-vehicle accounts payable	31	(8)	54
Accrued liabilities	(40)	44	142
Accrued taxes, net	38	(21)	(10)
Public liability and property damage	30	37	57
Net cash provided by (used in) operating activities	2,529	2,776	2,941
Cash flows from investing activities:
Revenue earning vehicles expenditures	(10,957)	(11,386)	(9,814)
Proceeds from disposal of revenue earning vehicles	8,764	8,796	7,167
Capital asset expenditures, non-vehicle	(134)	(250)	(331)
Proceeds from disposal of property and other equipment	59	107	78
Acquisitions, net of cash acquired	(2)	(95)	(75)
Sales of (investment in) shares in equity investment	222	236	(30)
Net cash provided by (used in) investing activities	(1,996)	(2,380)	(2,756)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	9,692	7,528	4,410
Repayments of vehicle debt	(9,748)	(7,079)	(4,523)
Proceeds from issuance of non-vehicle debt	2,592	1,867	2,480
Repayments of non-vehicle debt	(4,651)	(2,112)	(2,457)
Purchase of treasury shares	(100)	(605)	0
Payment of financing costs	(75)	(29)	(63)
Early redemption premium payment	(27)	0	0
Transfers from discontinued entities	2,122	61	72
Other	12	1	4
Net cash provided by (used in) financing activities	(183)	(368)	(77)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	(8)	(28)	(30)
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	342	0	78
Cash and cash equivalents at beginning of period	474	474	396
Cash and cash equivalents at end of period	816	474	474
Cash flows from discontinued operations:
Cash flows provided by (used in) operating activities	205	556	511
Cash flows provided by (used in) investing activities	(77)	(385)	(427)
Cash flows provided by (used in) financing activities	(97)	(172)	(82)
Effect of foreign currency exchange rate changes on cash and cash equivalents of discontinued operations	0	(3)	(1)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	31	(4)	1
Cash paid during the period for:
Income taxes, net of refunds	57	24	42
Supplemental disclosures of non-cash information for continuing operations:
Purchases of revenue earning vehicles included in accounts payable and accrued liabilities	185	140	115
Sales of revenue earning vehicles included in receivables	473	1,069	482
Purchases of property and other equipment included in accounts payable	20	37	67
Sales of property and other equipment included in receivables	3	15	2
Consideration for equity investment	0	0	130
Revenue earning vehicles and property and equipment acquired through capital lease	22	11	16
The Hertz Corporation
Cash flows from operating activities:
Net income (loss)	(488)	276	(78)
Net income (loss) from discontinued operations	(15)	161	136
Net income (loss) from continuing operations	(473)	115	(214)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation of revenue earning vehicles, net	2,531	2,361	2,625
Depreciation and amortization, non-vehicle	265	274	291
Amortization and write-off of deferred financing costs	45	55	51
Amortization and write-off of debt discount (premium)	3	(1)	(13)
Loss on extinguishment of debt	55	0	1
Stock-based compensation charges	13	16	10
Provision for receivables allowance	51	36	38
Deferred income taxes, net	(78)	11	(23)
Impairment charges and asset write-downs	340	70	37
(Gain) loss on sale of shares in equity investment	(84)	(133)	0
Other	8	(7)	(10)
Changes in assets and liabilities:
Non-vehicle receivables	(174)	(62)	(42)
Prepaid expenses and other assets	(31)	(11)	(53)
Non-vehicle accounts payable	31	(8)	54
Accrued liabilities	(40)	44	142
Accrued taxes, net	38	(21)	(10)
Public liability and property damage	30	37	57
Net cash provided by (used in) operating activities	2,530	2,776	2,941
Cash flows from investing activities:
Revenue earning vehicles expenditures	(10,957)	(11,386)	(9,814)
Proceeds from disposal of revenue earning vehicles	8,764	8,796	7,167
Capital asset expenditures, non-vehicle	(134)	(250)	(331)
Proceeds from disposal of property and other equipment	59	107	78
Acquisitions, net of cash acquired	(2)	(95)	(75)
Sales of (investment in) shares in equity investment	222	236	(30)
Advances to Old Hertz Holdings	0	267	28
Repayments from Old Hertz Holdings	0	0	25
Net cash provided by (used in) investing activities	(1,996)	(2,647)	(2,759)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	9,692	7,528	4,410
Repayments of vehicle debt	(9,748)	(7,079)	(4,523)
Proceeds from issuance of non-vehicle debt	2,592	1,867	2,480
Repayments of non-vehicle debt	(4,651)	(2,112)	(2,457)
Payment of financing costs	(75)	(29)	(63)
Early redemption premium payment	(27)	0	0
Transfers from discontinued entities	2,122	68	77
Advances to Hertz Global/Old Hertz Holdings	(102)	(344)	0
Other	13	0	2
Net cash provided by (used in) financing activities	(184)	(101)	(74)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	(8)	(28)	(30)
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	342	0	78
Cash and cash equivalents at beginning of period	474	474	396
Cash and cash equivalents at end of period	816	474	474
Cash flows from discontinued operations:
Cash flows provided by (used in) operating activities	207	556	516
Cash flows provided by (used in) investing activities	(77)	(385)	(427)
Cash flows provided by (used in) financing activities	(94)	(179)	(87)
Effect of foreign currency exchange rate changes on cash and cash equivalents of discontinued operations	0	(3)	(1)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	36	(11)	1
Cash paid during the period for:
Income taxes, net of refunds	57	24	42
Supplemental disclosures of non-cash information for continuing operations:
Purchases of revenue earning vehicles included in accounts payable and accrued liabilities	185	140	115
Sales of revenue earning vehicles included in receivables	473	1,069	482
Purchases of property and other equipment included in accounts payable	20	37	67
Sales of property and other equipment included in receivables	3	15	2
Consideration for equity investment	0	0	130
Revenue earning vehicles and property and equipment acquired through capital lease	22	11	16
Non-cash dividend paid to affiliate	334	365	0
Vehicle Related Service
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Loss on extinguishment of debt	6
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	53	221	249
Cash paid during the period for:
Interest, net of amounts capitalized	235	204	216
Vehicle Related Service \| The Hertz Corporation
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	53	221	249
Cash paid during the period for:
Interest, net of amounts capitalized	235	204	216
Non-Vehicle Related Service
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Loss on extinguishment of debt	49
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	(1)	(9)	0
Cash paid during the period for:
Interest, net of amounts capitalized	292	357	334
Non-Vehicle Related Service \| The Hertz Corporation
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	(1)	(9)	0
Cash paid during the period for:
Interest, net of amounts capitalized	$ 292	$ 357	$ 334

Background	12 Months Ended
Background	Dec. 31, 2016
Background Disclosure [Abstract]
Background	Background Hertz Global Holdings, Inc. ("Hertz Global" when including its subsidiaries and "Hertz Holdings" excluding its subsidiaries) was incorporated in Delaware in 2015 to serve as the top-level holding company for Rental Car Intermediate Holdings, LLC which wholly owns The Hertz Corporation ("Hertz" and interchangeably with Hertz Global, the "Company"), Hertz Global's primary operating company. Hertz was incorporated in Delaware in 1967 and is a successor to corporations that have been engaged in the vehicle rental and leasing business since 1918. Hertz operates its vehicle rental business globally primarily through the Hertz, Dollar and Thrifty brands from company-owned, licensee and franchisee locations in the U.S., Africa, Asia, Australia, Canada, The Caribbean, Europe, Latin America, the Middle East and New Zealand. Through its Donlen subsidiary, Hertz provides vehicle leasing and fleet management services. On June 30, 2016, former Hertz Global Holdings, Inc. (for periods on or prior to June 30, 2016, “Old Hertz Holdings” and for periods after June 30, 2016, “Herc Holdings”) completed a spin-off (the “Spin-Off”) of its global vehicle rental business through a dividend to stockholders of record of Old Hertz Holdings as of the close of business on June 22, 2016, the record date for the distribution, of all of the issued and outstanding common stock of Hertz Rental Car Holding Company, Inc. (“New Hertz”), which was re-named Hertz Global Holdings, Inc. in connection with the Spin-Off, on a one-to-five basis. See Note 19, "Equity and Earnings (Loss) Per Share - Hertz Global," for further information regarding the equity of Old Hertz Holdings and Hertz Global. Hertz Global is now an independent public company and trades on the New York Stock Exchange under the symbol "HTZ". Herc Holdings, which changed its name to Herc Holdings Inc. on June 30, 2016, trades on the New York Stock Exchange under the symbol “HRI”. Despite the fact that this was a reverse spin off and Hertz Global was spun off from Old Hertz Holdings and was the legal spinnee in the transaction, for accounting purposes, due to the relative significance of New Hertz to Old Hertz Holdings, Hertz Global is considered the spinnor or divesting entity and Herc Holdings is considered the spinnee or divested entity. As a result, New Hertz, or Hertz Global, is the “accounting successor” to Old Hertz Holdings. As such, the historical financial information of Hertz reflects the equipment rental business as a discontinued operation and the historical financial information of Hertz Global reflects the equipment rental business and certain parent legal entities as discontinued operations. See Note 3, "Discontinued Operations," for additional information. Unless noted otherwise, information disclosed in these notes to the consolidated financial statements pertain to the continuing operations of Hertz and Hertz Global.

Significant Accounting Policies

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Significant Accounting Policies

Accounting Principles

The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).

Reclassifications

Certain prior period amounts have been reclassified to conform with current period presentation.

Principles of Consolidation

The consolidated financial statements of Hertz Global include the accounts of Hertz Global and its wholly owned and majority owned U.S. and international subsidiaries. The consolidated financial statements of Hertz include the accounts of Hertz and its wholly owned and majority owned U.S. and international subsidiaries. In the event that the Company is a primary beneficiary of a variable interest entity, the assets, liabilities, and results of operations of the variable interest entity are included in the Company's consolidated financial statements. The Company accounts for its investment in joint ventures using the equity method when it has significant influence but not control and is not the primary beneficiary. All significant intercompany transactions have been eliminated in consolidation.

Correction of Errors

The Company has identified classification errors within the investing section of the statements of cash flows for the years ended December 31, 2015 and 2014. The Company considered both quantitative and qualitative factors in assessing the materiality of the classification errors individually, and in the aggregate, and determined that the classification errors were not material and has revised the accompanying statements of cash flows for the years ended December 31, 2015 and 2014 to correct for the classification errors. Correction of the errors, which did not impact total operating, investing or financing cash flows, decreased both revenue earning vehicles expenditures and proceeds from disposals of revenue earning vehicles by $679 million and $860 million for the years ended December 31, 2015 and 2014, respectively. This revision had no impact on the Company's consolidated balance sheet at December 31, 2015 or its consolidated statements of operations for the years ended December 31, 2015 and 2014. The Company will correct the cash flow statements for the interim periods ended March 31, June 30 and September 30, 2016 in the Company's 2017 Quarterly Reports on Form 10-Q.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and footnotes. Actual results could differ materially from those estimates.

Significant estimates inherent in the preparation of the consolidated financial statements include depreciation of revenue earning vehicles, reserves for litigation and other contingencies, accounting for income taxes and related uncertain tax positions, pension and postretirement benefit costs, the fair value of assets and liabilities acquired in business combinations, the recoverability of long-lived assets, useful lives and impairment of long-lived tangible and intangible assets including goodwill, valuation of stock-based compensation, public liability and property damage reserves, reserves for restructuring, allowance for doubtful accounts, and fair value of financial instruments, among others.

Revenue Earning Vehicles

Revenue earning vehicles are stated at cost, net of related discounts. Generally, holding periods range from six to thirty-six months. Incentives received from the manufacturers for purchases of vehicles reduce the capitalized cost. Generally, when revenue earning vehicles are acquired outside of a vehicle repurchase program, the Company estimates the period that the Company will hold the asset, primarily based on historical measures of the amount of rental activity (e.g., automobile mileage). The Company also estimates the residual value of the applicable revenue earning vehicles at the expected time of disposal. The residual values for rental vehicles are affected by many factors, including make, model and options, age, physical condition, mileage, sale location, time of the year and channel of disposition (e.g., auction, retail, dealer direct). Depreciation is recorded over the estimated holding period. Depreciation rates are reviewed on a quarterly basis based on management's ongoing assessment of present and estimated future market conditions, their effect on residual values at the time of disposal and the estimated holding periods. Market conditions for used vehicle sales can also be affected by external factors such as the economy, natural disasters, fuel prices, used vehicle supply levels and incentives offered by manufacturers of new vehicles. These key factors are considered when estimating future residual values and assessing depreciation rates. As a result of this ongoing assessment, the Company makes periodic adjustments to depreciation rates of revenue earning vehicles in response to changing market conditions. Upon disposal of revenue earning vehicles, depreciation expense is adjusted for the difference between the net proceeds received and the remaining net book value.

For vehicles acquired under the Company's vehicle repurchase programs ("program vehicles"), the manufacturers agree to repurchase program vehicles at a specified price or guarantee the depreciation rate on the vehicles during established repurchase or auction periods, subject to, among other things, certain vehicle condition, mileage and holding period requirements. Guaranteed depreciation programs guarantee on an aggregate basis the residual value of the program vehicle upon sale according to certain parameters which include the holding period, mileage and condition of the vehicles. The Company records a provision for excess mileage and vehicle condition, as necessary, during the holding period. These repurchase and guaranteed depreciation programs limit the Company's residual risk with respect to program vehicles and allow us to determine depreciation expense in advance, however, typically the acquisition cost is higher for these program vehicles.

Donlen's revenue earning vehicles are leased under long term agreements with its customers. These leases contain provisions whereby Donlen has a contracted residual value guaranteed by the lessee, such that it does not experience any gains or losses on the disposal of these vehicles. Donlen accounts for its lease contracts using the appropriate lease classifications.

The Company continually evaluates revenue earning vehicles to determine whether events or changes in circumstances have occurred that may warrant revision of the estimated useful life or whether the vehicle should be evaluated for possible impairment. The Company uses a combination of the undiscounted cash flows and market approaches in assessing whether an asset has been impaired. The Company measures impairment losses based upon the amount by which the carrying amount of the asset exceeds the fair value.

Self-insured Liabilities

Self-insured liabilities in the accompanying consolidated balance sheets include public liability, property damage, liability insurance supplement, personal accident insurance, and personal effects coverage claims for which the Company is self-insured. These represent an estimate for both reported accident claims not yet paid, and claims incurred but not yet reported and are recorded on a non-discounted basis. Reserve requirements are based on rental volume and actuarial evaluations of historical accident claim experience and trends, as well as future projections of ultimate losses, expenses, premiums and administrative costs. The adequacy of the liability is regularly monitored based on evolving accident claim history and insurance related state legislation changes. If the Company's estimates change or if actual results differ from these assumptions, the amount of the recorded liability is adjusted to reflect these results.

Defined Benefit Pension Plans and Other Employee Benefits

The Company has defined benefit plans worldwide. The Company also participates in multi-employer defined benefit plans for which Hertz is not the sponsor. For the Company sponsored plans, the relevant accounting guidance requires that management make certain assumptions relating to discount rates, salary growth, long-term return on plan assets, retirement rates, mortality rates and other factors. The Company believes that the accounting estimates related to its pension are critical accounting estimates, because they are susceptible to change from period to period based on the performance of plan assets, actuarial valuations, market conditions and contracted benefit changes. The various employee-related actuarial assumptions (e.g., retirement rates, mortality rates and salary growth) used in determining pension costs and plan liabilities are reviewed periodically by management, assisted by the enrolled actuary, and updated as warranted. The discount rate used to value the pension liabilities and related expenses and the expected rate of return on plan assets are the two most critical assumptions impacting pension expense. The discount rate used is a market based spot rate as of the valuation date. For the expected return on assets assumption, the Company uses a forward looking rate that is based on the expected return for each asset class (including the value added by active investment management), weighted by the target asset allocation. Actual results may differ substantially from the estimates that were based on the critical assumptions. The Company uses a December 31 measurement date for all of the plans. The Company utilizes fair value to calculate the market-related value of pension assets for the U.S. Plan for purposes of determining the expected return on plan assets and accounting for asset gains and losses.

Actual results that differ from the Company's assumptions are accumulated and amortized over future periods and, therefore, generally affect its recognized expense in such future periods. Significant differences in actual experience or significant changes in assumptions would affect the Company's pension costs and obligations. The Company recognizes the funded status of each defined benefit pension plan in the consolidated balance sheet. Each overfunded plan is recognized as an asset, and each underfunded plan is recognized as a liability. Pension plan liabilities are revalued annually based on updated assumptions and information about the individuals covered by the plan. For pension plans, if accumulated actuarial gains and losses are in excess of a 10 percent corridor, the excess is amortized on a straight-line basis over the average remaining service period of active participants. Prior service cost and the transition asset are amortized on a straight-line basis from the date recognized over the average remaining service period of active participants.

The Company maintains reserves for employee medical claims, up to its insurance stop-loss limit, and workers’ compensation claims. These are regularly evaluated and revised, as needed, based on a variety of information, including historical experience, actuarial estimates and current employee statistics.

Recoverability of Goodwill and Indefinite-lived Intangible Assets

On an annual basis and at interim periods when circumstances require as a result of a triggering event, the Company tests the recoverability of its goodwill and indefinite-lived intangible assets by performing an impairment analysis.

The Company utilizes the two-step impairment analysis for goodwill and elects not to use the qualitative assessment or “step zero” approach. In the two-step impairment analysis for goodwill, the Company compares the carrying value of each identified reporting unit to its fair value. A reporting unit is an operating segment or a business one level below that operating segment (the component level) if discrete financial information is prepared and regularly reviewed by segment management. If the carrying value of the reporting unit is greater than its fair value, the second step is performed, where the implied fair value of goodwill is compared to its carrying value. The Company recognizes an impairment charge for the amount by which the carrying amount of goodwill exceeds its implied fair value. The fair values of the reporting units are estimated using the net present value of discounted cash flows generated by each reporting unit and incorporate various assumptions related to discount rates, growth rates, cash flow projections, tax rates and terminal value rates specific to the reporting unit to which they are applied. Discount rates are set by using the Weighted Average Cost of Capital (“WACC”) methodology. The Company’s discounted cash flows are based upon reasonable and appropriate assumptions, which are weighted for their likely probability of occurrence, about the underlying business activities of the Company’s reporting units.

In the impairment analysis for an indefinite-lived intangible asset, the Company compares the carrying value of the asset to its implied fair value and recognizes an impairment charge whenever the carrying amount of the asset exceeds its implied fair value. The implied fair value for a tradename is estimated using a relief from royalty approach, which utilizes the Company’s revenue projections for each asset along with assumptions for royalty rates, tax rates and WACC.

Long-lived Assets, Including Finite-lived Intangible Assets

Finite-lived intangible assets include concession agreements, technology, customer relationships and other intangibles. Long-lived assets and intangible assets with finite lives, including technology-related intangibles, are amortized using the straight-line method over the estimated economic lives of the assets, which range from one to fifty years and two to fifteen years, respectively. Long-lived assets and intangible assets with finite lives, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be recoverable. Determination of recoverability is based on an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition. Measurement of an impairment loss for long-lived assets that management expects to hold and use is based on the estimated fair value of the asset. Long-lived assets to be disposed of are reported at the lower of carrying value or estimated fair value less costs to sell.

Financial Instruments

The Company is exposed to a variety of market risks, including the effects of changes in interest rates, gasoline and diesel fuel prices and foreign currency exchange rates. The Company manages exposure to these market risks through regular operating and financing activities and, when deemed appropriate, through the use of financial instruments. Financial instruments are viewed as risk management tools and have not been used for speculative or trading purposes. In addition, financial instruments are entered into with a diversified group of major financial institutions in order to manage the Company's exposure to counterparty nonperformance on such instruments. The Company measures all financial instruments at their fair value and does not offset the derivative assets and liabilities in its accompanying consolidated balance sheets. As the Company does not have financial instruments that are designated and qualify as hedging instruments, the changes in their fair value are recognized currently in the Company's operating results.

Stock-Based Compensation

The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost is to be recognized over the period during which the employee is required to provide service in exchange for the award. The Company has estimated the fair value of options issued at the date of grant using a Black-Scholes option-pricing model, which includes assumptions related to volatility, expected life, dividend yield and risk-free interest rate.

The Company accounts for restricted stock unit and performance stock unit awards as equity classified awards. For restricted stock units the expense is based on the grant-date fair value of the stock and the number of shares that vest, recognized over the service period. For performance stock units the expense is based on the grant-date fair value of the stock, recognized over a two to four year service period depending upon the applicable performance condition. For performance stock units, the Company re-assesses the probability of achieving the applicable performance condition each reporting period and adjusts the recognition of expense accordingly.

Income Taxes

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect of a change in tax rates is recognized in the statement of operations in the period that includes the enactment date. Valuation allowances are recorded to reduce deferred tax assets when it is more likely than not that a tax benefit will not be realized. Subsequent changes to enacted tax rates and changes to the global mix of operating results will result in changes to the tax rates used to calculate deferred taxes and any related valuation allowances. Provisions are not made for income taxes on undistributed earnings of international subsidiaries that are intended to be indefinitely reinvested outside the United States or are expected to be remitted free of taxes. Future distributions, if any, from these international subsidiaries to the United States or changes in U.S. tax rules may require recording a tax on these amounts. The Company has recorded a deferred tax asset for unutilized net operating loss carryforwards in various tax jurisdictions. Upon utilization, the taxing authorities may examine the positions that led to the generation of those net operating losses. If the utilization of any of those losses are disallowed a deferred tax liability may have to be recorded.

Revenue Recognition

The Company reports revenues net of any taxes or non-concession fees collected from customers on behalf of governmental authorities.

Vehicle Rental Operations

The Company derives revenue through rental activities by the operations and licensing of the Hertz, Dollar, and Thrifty brands under franchise agreements. The Company also derives revenue from other forms of rental related activities, such as sales of loss damage waivers, insurance products, fuel and fuel service charges, navigation units and other consumable items. Revenue is recognized when persuasive evidence of an arrangement exists, the services have been rendered to customers, the pricing is fixed or determinable and collection is reasonably assured.

Franchise fees are based on a percentage of net sales of the franchised business and are recognized as earned and when collectability is reasonably assured. Initial franchise fees are recorded as deferred income when received and are recognized as revenue when all material services and conditions related to the franchise fee have been substantially performed. Renewal franchise fees are recognized as revenue when the license agreements are effective and collectability is reasonably assured.

Revenue and expenses associated with gasoline, vehicle licensing and airport concessions are recorded on a gross basis within revenue and operating expenses.

Fleet Leasing and Management Operations

Each customer contract is considered a standalone agreement and leasing revenue is recognized ratably over the contract life. Administration fees and service revenue attributable to the Company's Donlen operations, net of any fees collected from customers on behalf of third party service providers, are recognized as services are rendered and any subscription fees are recognized ratably over the subscription life.

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand and highly liquid investments with an original maturity of three months or less.

Restricted Cash and Cash Equivalents

Restricted cash and cash equivalents includes cash and cash equivalents that are not readily available for use in the Company's operating activities. Restricted cash and cash equivalents are primarily comprised of proceeds from the disposition of vehicles pledged under the terms of vehicle debt financing arrangements, cash utilized as credit enhancement under those arrangements, and certain cash accounts supporting regulatory reserve requirements related to the Company's self-insurance. These funds are primarily held in demand deposit accounts or in highly rated money market funds with investments primarily in government and corporate obligations.

Receivables

Receivables are stated net of allowances and primarily represent credit extended to vehicle manufacturers and customers that satisfy defined credit criteria. The estimate of the allowance for doubtful accounts is based on the Company's historical experience and its judgment as to the likelihood of ultimate payment. Actual receivables are written-off against the allowance for doubtful accounts when the Company determines the balance will not be collected. Estimates for future credit memos are based on historical experience and are reflected as reductions to revenue, while bad debt expense is reflected as a component of "direct vehicle and operating" in the accompanying consolidated statements of operations.

Property and Equipment

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



Buildings	5 to 50 years
Furniture and fixtures	1 to 15 years
Service vehicles and equipment	1 to 13 years
Leasehold improvements	The lesser of the economic life or the lease term

The Company follows the practice of charging maintenance and repairs, including the cost of minor replacements, to maintenance expense. Costs of major replacements of units of property are capitalized to property and equipment accounts and depreciated.

Acquisitions

The Company records acquisitions resulting in the consolidation of an enterprise using the acquisition method of accounting. Under this method, the acquiring company records the assets acquired, including intangible assets that can be identified and named, and liabilities assumed based on their estimated fair values at the date of acquisition. The purchase price in excess of the fair value of the identifiable assets acquired and liabilities assumed is recorded as goodwill. If the assets acquired, net of liabilities assumed, are greater than the purchase price paid then a bargain purchase has occurred and the Company will recognize the gain immediately in its operating results. Among other sources of relevant information, the Company may use independent appraisals and actuarial or other valuations to assist in determining the estimated fair values of the assets and liabilities. Various assumptions are used in the determination of these estimated fair values including discount rates, market and volume growth rates, expected royalty rates, EBITDA margins and other prospective financial information. Transaction costs associated with acquisitions are expensed as incurred.

Divestitures

The Company classifies long-lived assets and liabilities to be disposed of as held for sale in the period in which they are available for immediate sale in their present condition and the sale is probable and expected to be completed within one year. The Company initially measures assets and liabilities held for sale at the lower of their carrying value or fair value less costs to sell and assesses their fair value each reporting period until disposed. When the divestiture represents a strategic shift that has (or will have) a major effect on the Company's operations and financial results, the disposal is presented as a discontinued operation.

Fair Value Measurements

Generally accepted accounting principles define fair value as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date (exit price) and establishes a fair value hierarchy that prioritizes the inputs used to measure fair value using the following definitions (from highest to lowest priority):

Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 2 - Observable inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly, including quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means.

Level 3 - Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable.

Environmental Liabilities

The use of automobiles and other vehicles is subject to various governmental controls designed to limit environmental damage, including those caused by emissions and noise. Generally, these controls are met by the manufacturer, except in the case of occasional vehicle failure requiring repair. Liabilities for these expenditures are recorded at undiscounted amounts when it is probable that obligations have been incurred and the amounts can be reasonably estimated.

Asset Retirement Obligations

The Company maintains a liability for asset retirement obligations. Asset retirement obligations are legal obligations to perform certain activities in connection with the retirement, disposal or abandonment of long-lived assets. The Company’s asset retirement obligations are primarily related to the removal of gasoline storage tanks and the restoration of its rental facilities. The asset retirement obligations are measured at discounted fair values at the time the liability is incurred. Accretion expense is recognized as an operating expense using the credit-adjusted risk-free interest rate in effect when the liability was recognized. The associated asset retirement obligations are capitalized as part of the carrying amount of the long-lived asset and depreciated over the estimated remaining useful life of the asset.

Foreign Currency Translation and Transactions

Assets and liabilities of international subsidiaries whose functional currency is the local currency are translated at the rate of exchange in effect on the balance sheet date; income and expenses are translated at the average exchange rates throughout the year. The related translation adjustments are reflected in “Accumulated other comprehensive loss” in the equity section of the accompanying consolidated balance sheets. Foreign currency exchange rate gains and losses resulting from transactions are included in the Company's operating results.

Advertising

Advertising and sales promotion costs are expensed the first time the advertising or sales promotion takes place. Advertising costs are reflected as a component of “Selling, general and administrative” in the accompanying consolidated statements of operations and for the years ended December 31, 2016, 2015 and 2014 were $159 million, $167 million, and $196 million, respectively.

Concentration of Credit Risk

The Company's cash and cash equivalents are invested in various investment grade institutional money market accounts and bank term deposits. Deposits held at banks may exceed the amount of insurance provided on such deposits. Generally, these deposits may be redeemed upon demand and are maintained with financial institutions with reputable credit and therefore bear minimal credit risk. The Company seeks to mitigate such risks by spreading the risk across multiple counterparties and monitoring the risk profiles of these counterparties. In addition, the Company has credit risk from financial instruments used in hedging activities. The Company limits exposure relating to financial instruments by diversifying the financial instruments among various counterparties, which consist of major financial institutions.

Recently Issued Accounting Pronouncements

Adopted

Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could be Achieved after the Requisite Service Period

In June 2014, the FASB issued guidance that requires that a performance target in a share-based payment award that affects vesting and that can be achieved after the requisite service period is completed is to be accounted for as a performance condition; therefore, compensation cost should be recognized in the period in which it becomes probable that the performance target will be achieved, and the amount of compensation cost recognized should be based on the portion of the service period fulfilled. The Company adopted this guidance prospectively on January 1, 2016 in accordance with the effective date. Adoption of this new guidance did not impact the Company’s financial position, results of operations or cash flows.

Amendments to the Consolidation Analysis

In February 2015, the FASB issued guidance that changes the analysis that a reporting entity must perform to determine whether it should consolidate certain types of legal entities. The Company adopted this guidance retrospectively on January 1, 2016, in accordance with the effective date. Adoption of this new guidance did not impact the Company’s financial position, results of operations or cash flows.

Simplifying the Presentation of Debt Issuance Costs

In April 2015, the FASB issued guidance requiring debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. In August 2015, the FASB issued guidance clarifying that debt issuance costs related to line-of-credit and other revolving debt arrangements may be deferred and presented as an asset. The Company adopted this guidance retrospectively on January 1, 2016 in accordance with the effective date.

Adoption of this guidance required the Company to reclassify $73 million of debt issuance costs from prepaid expenses and other assets to debt in its consolidated balance sheet as of December 31, 2015. Adoption of this new guidance did not impact the Company’s results of operations or cash flows.

Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement

In April 2015, the FASB issued guidance for customers about whether a cloud computing arrangement includes a software license. If a cloud computing arrangement includes a software license, then the customer should account for the software license element of the arrangement consistent with the acquisition of other software licenses. If a cloud computing arrangement does not include a software license, the customer should account for the arrangement as a service contract. The Company adopted this guidance prospectively on January 1, 2016, in accordance with the effective date. Adoption of this new guidance did not impact the Company’s financial position, results of operations or cash flows.

Simplifying the Accounting for Measurement Period Adjustments for Business Combinations

In September 2015, the FASB issued guidance that requires adjustments to provisional amounts during the measurement period of a business combination to be recognized in the reporting period in which the adjustments are determined, rather than retrospectively. The Company adopted this guidance prospectively on January 1, 2016 in accordance with the effective date. Adoption of this new guidance did not impact the Company’s financial position, results of operations or cash flows.

Not Yet Adopted

Revenue from Contracts with Customers

In May 2014, the FASB issued guidance that will replace most existing revenue recognition guidance in U.S. GAAP. The new guidance applies to all contracts with customers except for leases, insurance contracts, financial instruments, certain nonmonetary exchanges and certain guarantees. The core principle of the guidance is that an entity should recognize revenue from customers for the transfer of goods or services equal to the amount that it expects to be entitled to receive for those goods or services. The new principles-based revenue recognition model requires an entity to perform five steps: 1) identify the contract(s) with a customer, 2) identify the performance obligations in the contract, 3) determine the transaction price, 4) allocate the transaction price to the performance obligations in the contract, and 5) recognize revenue when (or as) the entity satisfies a performance obligation. Under the new guidance, performance obligations in a contract will be separately identified, which may impact the timing of recognition of the revenue allocated to each obligation. The measurement of revenue recognized may also be impacted by identification of new performance obligations and other provisions, such as collectability and variable consideration. The guidance will impact the Company’s accounting for certain contracts and its Hertz Gold Plus Rewards liability. Upon adoption, each transaction which generates Hertz Gold Plus Rewards points will result in the deferral of revenue; the associated revenue will be recognized at the time when the customer redeems the reward points. Currently the Company records an expense associated with the incremental cost of providing the rental when the reward points are earned. Also, additional disclosures are required about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments. The new guidance may be adopted on either a full or modified retrospective basis. As originally issued, the guidance is effective for annual reporting periods beginning after December 15, 2016, including interim periods within those reporting periods. In July 2015, the FASB deferred the effective date of the guidance until annual and interim reporting periods beginning after December 15, 2017.

In March 2016, the FASB issued clarifying guidance on assessing whether an entity is a principal or an agent in a revenue transaction, which impacts whether an entity reports revenue on a gross or net basis. In April 2016, the FASB issued guidance that reduces the complexity of identifying performance obligations and clarifies the implementation guidance on licensing for intellectual property. In May 2016, the FASB issued guidance that clarifies the collectability criterion, the presentation of sales taxes, and noncash consideration, and provides additional implementation practical expedients. The Company is in the process of determining the method of adoption and assessing the overall impact of adopting this guidance on its financial position, results of operations and cash flows.

Recognition and Measurement of Financial Assets and Financial Liabilities

In January 2016, the FASB issued guidance that makes several changes to the manner in which financial assets and liabilities are accounted for, including, among other things, a requirement to measure most equity investments at fair value with changes in fair value recognized in net income (with the exception of investments that are consolidated or accounted for using the equity method or a fair value practicability exception), and amends certain disclosure requirements related to fair value measurements and financial assets and liabilities. This guidance is effective for annual periods beginning after December 15, 2017 and interim periods within those annual periods using a modified retrospective transition method for most of the requirements. Based on current operations, adoption of this guidance is not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

Leases

In February 2016, the FASB issued guidance that replaces the existing lease guidance. The new guidance establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and lease liability on the balance sheet for all leases with terms longer than 12 months. The guidance will impact the Company's accounting for leases of the Company's rental locations, as the Company owns approximately 3% of the locations from which it operates its vehicle rental business, in addition to leases of other assets. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. This guidance also expands the requirements for lessees to record leases embedded in other arrangements and the required quantitative and qualitative disclosures surrounding leases. For lessors, the guidance modifies classification criteria and accounting for sales-type and direct financing leases and requires a lessor to derecognize the carrying value of the leased asset that is considered to have been transferred to a lessee and record a lease receivable and residual asset. This guidance is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods using a modified retrospective transition approach. A modified retrospective transition approach is required for both lessees and lessors for existing leases at, or entered into after, the beginning of the earliest comparative period presented in the financial statements, with certain practical expedients available. The Company is in the process of assessing the overall impact of adopting this guidance on its financial position, results of operations and cash flows.

Simplifying the Transition to the Equity Method of Accounting

In March 2016, the FASB issued guidance that eliminates the requirement to apply the equity method of accounting retrospectively when significant influence over a previously held investment is obtained. Rather, the guidance requires the investor to add the cost of acquiring the additional interest in the investee to the current basis of the investor’s previously held interest and adopt the equity method of accounting as of the date the investment becomes qualified for equity method of accounting. This guidance is effective prospectively for annual periods beginning after December 15, 2016 and interim periods within those annual periods. The adoption of this guidance is not expected to impact the Company’s financial position, results of operations or cash flows.

Improvements to Employee Share-Based Payment Accounting

In March 2016, the FASB issued guidance that simplifies several areas of employee share-based payment accounting, including income taxes, forfeitures, minimum statutory withholding requirements, and classifications within the statement of cash flows. Most significantly, the new guidance eliminates the need to track tax “windfalls” in a separate pool within additional paid-in capital; instead, excess tax benefits and tax deficiencies will be recorded within income tax expense. This will result in the Company reclassifying excess tax benefits from additional paid-in capital to retained earnings on the balance sheet. The new guidance also gives entities the ability to elect whether to estimate forfeitures or account for them as they occur. Different adoption methods are required for the various aspects of the new guidance, including the retrospective, modified retrospective and prospective approaches, effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods. Adoption of the requirements within this guidance related to forfeitures, minimum statutory withholding requirements, and classifications within the statement of cash flows is not expected to have a material impact on the Company's financial condition, results of operations or cash flows. The impact of the elimination of the tax "windfalls" within this guidance is expected to result in an increase to deferred tax assets of approximately $46 million with a corresponding decrease to accumulated deficit in the Company's consolidated balance sheets as of the adoption date and is not expected to impact the Company's financial position, results of operations or cash flows.

Measurement of Credit Losses on Financial Instruments

In June 2016, the FASB issued guidance that sets forth a current expected credit loss (“CECL”) impairment model for financial assets, which replaces the current incurred loss model. This model requires a financial asset (or group of financial assets), including trade receivables, measured at amortized cost to be presented at the net amount expected to be collected with an allowance for credit losses deducted from the amortized cost basis. The allowance for credit losses should reflect management’s current estimate of credit losses that are expected to occur over the remaining life of a financial asset. This guidance is effective for annual periods beginning after December 15, 2019 and interim periods within those annual periods using a modified retrospective transition method. Adoption of this guidance is not expected to have a material impact on the Company's financial position, results of operations or cash flows.

Classification of Certain Cash Receipts and Cash Payments

In August 2016, the FASB issued guidance that addresses the treatment of certain transactions in statements of cash flow, with the objective of reducing the existing diversity in practice in how certain cash receipts and cash payments are presented and classified. These items include debt prepayment or debt extinguishment costs, proceeds from the settlement of life insurance claims, proceeds from the settlement of corporate-owned life insurance policies, and distributions received from equity method investees. The guidance is effective for annual periods beginning after December 15, 2017 and interim periods within those annual periods using the retrospective transition method. The Company is in the process of assessing the potential impacts of adopting this guidance on its presentation of cash flows.

Tax Consequences of Intra-Entity Transfers of Assets Other Than Inventory

In October 2016, the FASB issued guidance that requires the tax consequences of intra-entity asset transfers, other than intra-entity asset transfers of inventory, to be recognized when the transfers occur although the profits on the sales of the assets are eliminated in consolidation. Current guidance requires the tax effects of the transfer be recognized later when the assets are sold to a third party or otherwise disposed of. Under the new guidance, the seller's tax expense on the profit and the buyer's deferred tax benefit on the increased tax basis are recognized within the consolidated group when the transfers occur. The guidance is effective for annual periods beginning after December 15, 2017 and interim periods within those annual periods using a modified retrospective transition method. The Company is in the process of assessing the potential impacts of adopting this guidance on its financial position, results of operations, and cash flows.

Interests Held Through Related Parties That Are Under Common Control

In October 2016, the FASB issued guidance that addresses implementation issues with the consolidation guidance it issued in February 2015. The guidance addresses questions on how a single decision maker should treat indirect interests held by its related parties when the decision maker and its related parties are under common control. The guidance is effective for annual periods beginning after December 15, 2016 and interim periods within those annual periods and should be adopted with the related consolidation guidance issued in February 2015. Adoption of this guidance is not expected to have a material impact on the Company's financial position, results of operations or cash flows.

Restricted Cash

In November 2016, the FASB issued guidance that clarifies existing guidance on the classification and presentation of restricted cash in the statement of cash flows. The guidance requires entities to include restricted cash and restricted cash equivalents in its cash and cash equivalents balances in the statement of cash flows. Under current guidance, the Company presents these transfers within the cash flows from investing section in its consolidated statements of cash flows. The guidance is effective for annual periods beginning after December 15, 2017 and interim periods within those annual periods using a retrospective transition method. The Company is in the process of assessing the overall impact of adopting this guidance on its presentation of cash flows.

Discontinued Operations

12 Months Ended

Dec. 31, 2016

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

As further described in Note 1, "Background," on June 30, 2016, the separation of Old Hertz Holdings' global vehicle rental and equipment rental businesses was completed. In connection with the Spin-Off, Hertz Global and Herc Holdings entered into multiple agreements that provide a framework for the relationships between the parties going forward. As the primary operating company for Hertz Global, the agreements that follow also apply to Hertz directly.

Separation and Distribution Agreement

Hertz Global entered into a separation and distribution agreement (the “Separation Agreement”) with Herc Holdings which, among other things, sets forth other agreements that govern the aspects of the relationship as follows:

Internal Reorganization and Related Financing Transactions - Provides for the transfers of entities and assets and the assumption of liabilities necessary to complete the Spin-Off, including the series of internal reorganization transactions such that Hertz Global holds the entities associated with Old Hertz Holdings’ global vehicle rental business, including Hertz, and Herc Holdings holds the entities associated with Old Hertz Holdings’ global equipment rental business, including Herc Rentals Inc. (“Herc”, formerly known as Hertz Equipment Rental Corporation, or “HERC”).

Pursuant to the Separation Agreement, Herc made certain cash transfers in the total amount of approximately $2.0 billion to Hertz Global and its subsidiaries in June 2016. To fund, among other things, such transfers, in connection with, and prior to, the Spin-Off, Herc issued senior secured second priority notes and entered into a new asset-based revolving credit agreement. Hertz Global and Hertz used the cash proceeds from these transfers to pay off the Senior Term Facility.

Legal Matters and Claims; Sharing of Certain Liabilities - Subject to any specified exceptions, each party to the Separation Agreement has assumed the liability for, and control of, all pending and threatened legal matters related to its own business, as well as assumed or retained liabilities, and has indemnified the other party for any liability arising out of or resulting from such assumed legal matters.

The Separation Agreement provides for certain liabilities to be shared by the parties. Hertz Global and Herc Holdings are each responsible for a portion of these shared liabilities. The division of these shared liabilities are set forth in the Separation Agreement. Hertz Global is responsible for managing the settlement or other disposition of such shared liabilities.

Other Matters - In addition to those matters discussed above, the Separation Agreement, among other things, (i) governs the transfer of assets and liabilities generally, (ii) terminates all intercompany arrangements between Hertz Global and Herc Holdings except for specified agreements and arrangements that follow the Spin-Off, (iii) contains further assurances, terms and conditions that require Hertz Global and Herc Holdings to use commercially reasonable efforts to consummate the transactions contemplated by the Separation Agreement and the ancillary agreements, (iv) releases certain claims between the parties and their affiliates, successors and assigns, (v) contains mutual indemnification clauses and (vi) allocates expenses of the Spin-Off between the parties.

Transition Services Agreement

Hertz Global entered into a transition services agreement (the “Transition Services Agreement”) pursuant to which Hertz Global or its affiliates, including Hertz, will provide Herc Holdings specified services on a transitional basis for a term of up to two years following the Spin-Off, though Hertz Global may request certain transition services to be performed by Herc Holdings. The services to be provided by Hertz Global primarily include information technology and network and telecommunications systems support, human resources, payroll and benefits, accounting and finance, treasury, tax matters and administrative services. With certain exceptions, Hertz Global and Herc Holdings have agreed to charge for the services rendered the allocated costs associated with rendering these services, including a mark-up for certain services, which the Company will record as a reduction to the associated expenses.

Tax Matters Agreement

Hertz Global and Hertz entered into a tax matters agreement (the “Tax Matters Agreement”) with Herc Holdings and Herc that governs the parties’ respective rights, responsibilities and obligations after the Spin-Off with respect to tax liabilities and benefits, tax attributes, tax contests and other tax matters regarding income taxes, other taxes and related tax returns.

Under the Tax Matters Agreement, Herc Holdings, Herc, Hertz Global and Hertz are responsible for their respective tax liabilities. The agreement provides for no compensation due to any change in a tax attribute, such as a net operating loss ("NOL"). Tax attributes are allocated between the entities based on the applicable federal or state income tax law and regulations. The Tax Matters Agreement also requires that an unqualified opinion from a nationally recognized law firm, supplemental ruling from the Internal Revenue Service, or waiver from the other party be obtained upon the occurrence or contemplated occurrence of certain events which could impact the taxability of the transaction under the U.S. federal income tax law. The Spin-Off was a reverse spin-off, as such, Herc Holdings is the successor entity to Old Hertz Holdings and Herc is the successor entity to Hertz. Herc Holdings will file a tax return for the full year of 2016 which will include activity of Old Hertz Holdings for the first half of 2016 and Herc will file a tax return for the full year of 2016 which will include activity of Hertz for the first half of 2016. In addition, Hertz and Hertz Global will each file their own 2016 tax return that includes only their continuing operations activity for the second half of 2016.

Employee Matters Agreement

Hertz Global and Herc Holdings entered into an employee matters agreement (the “Employee Matters Agreement”) to allocate liabilities and responsibilities relating to employment matters, employee compensation, benefit plans and programs and other related matters. The Employee Matters Agreement governs Hertz Global's and Herc Holdings’ obligations with respect to such matters for current and former employees of the vehicle rental business and the equipment rental business.

Intellectual Property Agreement

Hertz Global and Herc Holdings entered into an intellectual property agreement (the “Intellectual Property Agreement”) that provides for ownership, licensing and other arrangements regarding the trademarks and related intellectual property that Hertz Global and Herc Holdings use in conducting their respective businesses. The agreement provides that, following the Spin-Off, Herc Holdings will continue to have the right to use certain intellectual property associated with the Hertz brand for a period of four years on a royalty free basis.

Results of Discontinued Operations - Hertz Global

The following table summarizes the results of the equipment rental business and certain parent legal entities which are presented as discontinued operations. The operations that are discontinued are comprised of Old Hertz Holdings' Worldwide Equipment Rental segment as well as certain parent entities that were presented as part of corporate operations prior to the Spin-Off.



	Years Ended December 31,
(In millions)	2016			2015			2014
Total revenues	$	677		$	1,518		$	1,571
Direct operating expenses	366			841			856
Depreciation of revenue earning equipment and lease charges, net	181			329			329
Selling, general and administrative	123			172			152
Interest expense, net⁽¹⁾	17			23			31
Other (income) expense, net	(1		)	(56		)	(5		)
Income (loss) from discontinued operations before income taxes	(9		)	209			208
(Provision) benefit for taxes on discontinued operations	(8		)	(51		)	(76		)
Net income (loss) from discontinued operations	$	(17	)	$	158		$	132

(1) In addition to interest expense directly associated with Herc Holdings, the Company allocated all interest expense associated with the Senior ABL Facility to discontinued operations as this debt was repaid in connection with the Spin-Off in accordance with requirements as disclosed in Note 7, "Debt". For the years ended December 31, 2016, 2015 and 2014, the amount allocated was $5 million, $13 million and $14 million, respectively.

The carrying amounts of the major classes of assets and liabilities of discontinued operations as of December 31, 2015 consisted of the following:



(In millions)	December 31, 2015
ASSETS
Cash and cash equivalents	$	12
Restricted cash and cash equivalents	16
Receivables, net of allowance	288
Inventories, net	22
Prepaid expenses and other assets	36
Revenue earning equipment, net	2,382
Property and other equipment, net	246
Other intangible assets, net	300
Goodwill	93
Total assets of discontinued operations	$	3,395
LIABILITIES
Accounts payable	$	109
Accrued liabilities and other	71
Accrued taxes, net	273
Debt	64
Public liability and property damage	8
Deferred income taxes, net	709
Total liabilities of discontinued operations	$	1,234

As a result of the Spin-Off, Hertz Global distributed $347 million in net assets of Herc Holdings, which has been reflected as a reduction to additional paid in capital and accumulated other comprehensive (income) loss in the accompanying consolidated balance sheet and statement of changes in equity as of December 31, 2016. Also in connection with the Spin-Off, there was a $229 million reclassification related to the resulting continuing operations presentation of tax accounts from accrued taxes, net to prepaid expenses and other assets in the accompanying consolidated balance sheets as of December 31, 2015.

Results of Discontinued Operations - The Hertz Corporation

The following table summarizes the results of the equipment rental business which is presented as discontinued operations. The operations of Hertz that are discontinued are comprised of the Company's former Worldwide Equipment Rental segment.



	Years Ended December 31,
(In millions)	2016			2015			2014
Total revenues	$	677		$	1,518		$	1,571
Direct operating expenses	366			841			856
Depreciation of revenue earning equipment and lease charges, net	181			329			329
Selling, general and administrative	124			172			152
Interest expense, net⁽¹⁾	13			20			24
Other (income) expense, net	(1		)	(56		)	(5		)
Income (loss) from discontinued operations before income taxes	(6		)	212			215
(Provision) benefit for taxes on discontinued operations	(9		)	(51		)	(79		)
Net income (loss) from discontinued operations	$	(15	)	$	161		$	136

The carrying amounts of the major classes of assets and liabilities of discontinued operations as of December 31, 2015 consisted of the following:



(In millions)	December 31, 2015
ASSETS
Cash and cash equivalents	$	5
Restricted cash and cash equivalents	16
Receivables, net of allowance	288
Inventories, net	22
Prepaid expenses and other assets	38
Revenue earning equipment, net	2,382
Property and other equipment, net	246
Other intangible assets, net	300
Goodwill	93
Total assets of discontinued operations	$	3,390
LIABILITIES
Accounts payable	$	109
Accrued liabilities and other	71
Accrued taxes, net	273
Debt	64
Public liability and property damage	8
Deferred income taxes, net	775
Total liabilities of discontinued operations	$	1,300

As a result of the Spin-Off, Hertz distributed $345 million in net assets of Herc, which has been reflected as a reduction to additional paid in capital and accumulated other comprehensive (income) loss in the accompanying consolidated balance sheet and statement of changes in equity as of December 31, 2016. Also in connection with the Spin-Off, there was a $229 million reclassification related to the resulting continuing operations presentation of tax accounts from accrued taxes, net to prepaid expenses and other assets in the accompanying consolidated balance sheets as of December 31, 2015.

- Definition

The entire disclosure related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
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Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 4: http://www.xbrl.org/2003/role/presentationRef
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-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
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-Section 50
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-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
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-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
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Reference 12: http://www.xbrl.org/2003/role/presentationRef
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-Name Accounting Standards Codification
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Reference 13: http://www.xbrl.org/2003/role/presentationRef
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-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760

+ Details

Acquisitions and Divestitures

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Acquisitions and Divestitures

Acquisitions

Equity Investment

In April 2016, the Company paid $45 million for investments in entities which are accounted for under the equity method. These investments are presented within prepaid expenses and other assets in the accompanying consolidated balance sheets.

Hertz Franchises

In February 2015, the Company acquired substantially all of the assets of certain Hertz-branded franchises, including existing vehicles and contract and concession rights, for $87 million. The franchises acquired include on airport locations in Indianapolis, South Bend and Fort Wayne, Indiana and in Memphis, Tennessee, as well as several smaller off airport locations. The acquisition was part of a strategic decision at the time to increase the number of Hertz-owned locations and capitalize on certain benefits of ownership not available under a franchise agreement.

The acquisition was accounted for utilizing the acquisition method of accounting where the purchase price of the reacquired franchises was allocated based on estimated fair values of the assets acquired and liabilities assumed. The excess of the purchase price over the estimated fair value of the net tangible and intangible assets acquired was recorded as goodwill. The purchase price was allocated as follows:



(In millions)	U.S. Rental Car
Revenue earning vehicles	$	71
Property and equipment	6
Other intangible assets	9
Goodwill	1
Total	$	87

Dollar and Thrifty Franchises

In August 2014, the Company acquired substantially all of the assets of certain Dollar and Thrifty franchisees including existing fleets and contract and concession rights for $62 million. The acquisition was part of a strategic decision to increase its Hertz-owned locations and capitalize on certain benefits of ownership not available to the Company under a franchise agreement.

The acquisition was accounted for utilizing the acquisition method of accounting where the purchase price of the franchises was allocated based on estimated fair values of the assets acquired and liabilities assumed. The excess of the purchase price over the estimated fair value of the net tangible and intangible assets acquired was recorded as goodwill. The purchase price was allocated as follows:



(In millions)	U.S. Rental Car
Revenue earning vehicles	$	43
Property and equipment	1
Other intangible assets	7
Goodwill	11
Total	$	62

Divestitures

CAR Inc. Investment

In 2014, the Company converted its CAR Inc. debt securities into common stock of CAR Inc. In September 2014, CAR Inc. launched its initial public offering ("IPO") on the Hong Kong stock exchange and in conjunction with the IPO, the Company purchased additional equity shares. As a result of the IPO and its additional investment, the Company owned approximately 16% of CAR Inc. and accounted for this investment under the equity method based on its ability to exercise significant influence over CAR Inc. as determined based on a variety of factors, including the Company's representation on the Board of Directors of CAR Inc. with voting rights.

During the second half of 2015, the Company sold approximately 138 million shares of CAR Inc. common stock for net proceeds of $236 million which resulted in a pre-tax gain of $133 million.

In the first quarter of 2016, the Company sold approximately 204 million shares of CAR Inc. common stock and extended its commercial agreement with CAR Inc. to 2023, in exchange for $240 million, of which $233 million was allocated to the sale of shares based on the fair value of those shares, which resulted in a pre-tax gain of $75 million. Additionally, $7 million of the proceeds were allocated to the extension of the commercial agreement which have been deferred and are being recognized over the remaining term of the commercial agreement. The sale of the shares reduced the Company's ownership interest in CAR Inc. to 1.7% and eliminated the Company's ability to exercise significant influence over CAR Inc. As a result, the Company discontinued the equity method of accounting for this investment and classifies the investment as an available for sale security.

In the fourth quarter of 2016, the Company sold approximately 32 million shares of CAR Inc. common stock for net proceeds of $34 million which resulted in a pre-tax gain of $9 million. See Note 15, "Fair Value Measurements," for the fair value of the Company's available for sale securities at December 31, 2016.

This investment is recorded in the Company's corporate operations and the Company presents this investment within prepaid expenses and other assets in the accompanying consolidated balance sheets. Any gain on the sale of shares is included in other (income) expense, net in the accompanying consolidated statements of operations.

Brazil Operations

During the fourth quarter of 2016, the Company, along with certain of its wholly owned subsidiaries, entered into a definitive stock purchase agreement ("Purchase Agreement") to sell Car Rental Systems do Brasil Locacao de Veiculos Ltd., a wholly owned subsidiary of the Company located in Brazil ("Brazil Operations"), to Localiza Fleet S.A. (“Localiza”), a corporation headquartered in Brazil. As part of the overall agreement, the Company intends to enter into certain ancillary agreements with Localiza, including co-branding in Brazil and use of the Localiza brand in other select markets, customer referrals and the exchange of technology and information, at the closing date of the Purchase Agreement and upon receiving clearance from the regulatory authority in Brazil. The proceeds from the sale are expected to be approximately $105 million, which is subject to change in accordance with the terms of the Purchase Agreement. Approximately $12 million of the proceeds will be placed into escrow to secure certain indemnification obligations as defined in the Purchase Agreement. The transaction is subject to regulatory approval and customary closing conditions. The sale is expected to close in the first half of 2017. The Brazil Operations are included in the Company's International Rental Car segment.

As a result of the pending sale, the carrying values of the assets and liabilities being sold were written down to fair value less costs to sell, which resulted in an impairment charge of $18 million based upon the estimated agreed-upon sales price and related transaction costs, which is included in other (income) expense, net, in the accompanying consolidated statement of operations for the year ended December 31, 2016. The Brazil operations are classified as held for sale in the accompanying consolidated balance sheets at December 31, 2016.

The carrying amounts of the major classes of assets and liabilities of the Brazil Operations are as follows:



(In millions)	December 31, 2016
ASSETS
Cash and cash equivalents	$	1
Receivables, net	11
Prepaid expenses and other assets	5
Revenue earning vehicles, net	86
Property and equipment, net	1
Intangibles	1
Deferred income taxes, net	$	6
Assets held for sale	$	111
LIABILITIES
Accounts payable	$	11
Accrued liabilities	6
Liabilities held for sale	$	17

Revenue Earning Vehicles

12 Months Ended

Dec. 31, 2016

Revenue Earning Vehicles [Abstract]

Revenue Earning Vehicles

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



	December 31,
(In millions)	2016			2015
Revenue earning vehicles	$	13,287		$	13,242
Less: Accumulated depreciation	(2,678		)	(2,631		)
	10,609			10,611
Revenue earning vehicles held for sale, net	209			135
Revenue earning vehicles, net	$	10,818		$	10,746

The above amounts as of December 31, 2016 exclude revenue earning vehicles of the Company's Brazil Operations which are deemed held for sale as further described in Note 4, "Acquisitions and Divestitures".

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



	Years Ended December 31,
(In millions)	2016		2015		2014
Depreciation of revenue earning vehicles	$	2,359	$	2,272	$	2,449
(Gain) loss on disposal of revenue earning vehicles^(a)	172		89		176
Rents paid for vehicles leased	70		72		80
Depreciation of revenue earning vehicles and lease charges, net	$	2,601	$	2,433	$	2,705

(a) (Gain) loss on disposal of revenue earning vehicles by segment is as follows:



	Years Ended December 31,
(In millions)	2016			2015			2014
U.S. Rental Car⁽ⁱ⁾	$	177		$	97		$	178
International Rental Car	(5		)	(8		)	(2		)
Total	$	172		$	89		$	176

(i) Includes costs associated with the Company's U.S. vehicle sales operations of $109 million, $105 million and $32 million for the years ended December 31, 2016, 2015 and 2014, respectively.

Depreciation rates are reviewed on a quarterly basis based on management's ongoing assessment of present and estimated future market conditions, their effect on residual values at the time of disposal and the estimated holding periods for the vehicles. The impact of depreciation rate changes is as follows:



Increase (decrease)	Years Ended December 31,
(In millions)	2016		2015			2014
U.S. Rental Car	$	141	$	101		$	167
International Rental Car	4		(1		)	(3		)
Total	$	145	$	100		$	164

Goodwill and Other Intangible Assets

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets

Goodwill

At October 1, 2016, the Company performed its annual goodwill impairment analysis using the income approach, a measurement using level 3 inputs under the GAAP fair value hierarchy, and determined that an impairment existed related to the International Rental Car segment and recorded a charge of $172 million. The impairment was largely due to declines in revenue and profitability projections associated with the vehicle rental operations in Europe, coupled with an increased weighted average cost of capital. In 2015, the Company's annual goodwill impairment analysis determined that no impairment existed.

The following summarizes the changes in the Company's goodwill, by segment:



(In millions)	U.S. Rental Car		International Rental Car			All Other Operations			Total
Balance as of January 1, 2016
Goodwill	$	1,028	$	244		$	35		$	1,307
Accumulated impairment losses	—		(46		)	—			(46		)
	1,028		198			35			1,261
Impairment losses during the period	—		(172		)	—			(172		)
Other changes during the period^(a)	—		(7		)	(1		)	(8		)
	—		(179		)	(1		)	(180		)
Balance as of December 31, 2016
Goodwill	1,028		237			34			1,299
Accumulated impairment losses	—		(218		)	—			(218		)
	$	1,028	$	19		$	34		$	1,081



(In millions)	U.S. Rental Car		International Rental Car			All Other Operations		Total
Balance as of January 1, 2015
Goodwill	$	1,025	$	248		$	35	$	1,308
Accumulated impairment losses	—		(46		)	—		(46		)
	1,025		202			35		1,262
Goodwill acquired during the period	3		—			—		3
Other changes during the period^(a)	—		(4		)	—		(4		)
	3		(4		)	—		(1		)

Balance as of December 31, 2015
Goodwill	1,028		244			35		1,307
Accumulated impairment losses	—		(46		)	—		(46		)
	$	1,028	$	198		$	35	$	1,261


(a)	The change in the International Rental Car segment and All Other Operations segment primarily consists of foreign currency exchange rate adjustments.

Other Intangible Assets

At October 1, 2016, the Company performed its annual impairment analysis of its indefinite-lived intangible assets using the relief from royalty method, a measurement using level 3 inputs under the GAAP fair value hierarchy, and concluded that there was an impairment of the Dollar Thrifty tradename in the U.S. Rental Car segment and recorded a charge of $120 million. The impairment was largely due to a decrease in long-term revenue projections, along with an increased weighted average cost of capital.

Other intangible assets, net, consisted of the following major classes:



	December 31, 2016
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Amortizable intangible assets:
Customer-related	$	333	$	(292	)	$	41
Concession rights	408		(188		)	220
Technology-related intangibles^(a)	294		(168		)	126
Other^(b)	82		(59		)	23
Total	1,117		(707		)	410
Indefinite-lived intangible assets:
Tradename	2,900		—			2,900
Other^(c)	22		—			22
Total	2,922		—			2,922
Total other intangible assets, net	$	4,039	$	(707	)	$	3,332

In 2015, the Company's annual impairment analysis of its indefinite-lived intangible assets using the relief from royalty method determined that no impairment existed. Subsequent to conducting the annual test, the Company determined that an international tradename associated with the Company's former equipment rental business was impaired and recorded a charge of $40 million. The impairment was largely due to decisions made by management in the fourth quarter of 2015 regarding the business transition plan associated with the former equipment rental business in connection with the Spin-off and the inability of future use of its related international tradename in Canada.

Additionally, the Company determined that the international tradename’s adjusted fair value of $4 million should be amortized over its remaining life through the planned date of the Spin-off, and reclassified it to a finite-lived intangible asset.



	December 31, 2015
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Amortizable intangible assets:
Customer-related	$	333	$	(283	)	$	50
Concession rights	411		(144		)	267
Technology-related intangibles^(a)	283		(151		)	132
Other^(b)	81		(50		)	31
Total	1,108		(628		)	480
Indefinite-lived intangible assets:
Tradename	3,020		—			3,020
Other^(c)	22		—			22
Total	3,042		—			3,042
Total other intangible assets, net	$	4,150	$	(628	)	$	3,522

(a) Technology-related intangibles include software not yet placed into service.

(b) Other amortizable intangible assets primarily include the Donlen tradename and non-compete agreements.

Amortization of other intangible assets for the years ended December 31, 2016, 2015 and 2014 was $98 million, $118 million and $120 million, respectively. Based on its amortizable intangible assets as of December 31, 2016, the Company expects amortization expense to be approximately $92 million in 2017, $83 million in 2018, $72 million in 2019, $67 million in 2020, $58 million in 2021 and $38 million thereafter.

- Definition

The entire disclosure for the aggregate amount of goodwill and a description of intangible assets, which may include (a) for amortizable intangible assets (also referred to as finite-lived intangible assets), the carrying amount, the amount of any significant residual value, and the weighted-average amortization period, (b) for intangible assets not subject to amortization (also referred to as indefinite-lived intangible assets), the carrying amount, and (c) the amount of research and development assets acquired and written off in the period, including the line item in the income statement in which the amounts written off are aggregated, if not readily apparent from the income statement. Also discloses (a) for amortizable intangibles assets in total and by major class, the gross carrying amount and accumulated amortization, the total amortization expense for the period, and the estimated aggregate amortization expense for each of the five succeeding fiscal years, (b) for intangible assets not subject to amortization the carrying amount in total and by major class, and (c) for goodwill, in total and for each reportable segment, the changes in the carrying amount of goodwill during the period (including the aggregate amount of goodwill acquired, the aggregate amount of impairment losses recognized, and the amount of goodwill included in the gain (loss) on disposal of a reporting unit). If any part of goodwill has not been allocated to a reportable segment, discloses the unallocated amount and the reasons for not allocating. For each impairment loss recognized related to an intangible asset (excluding goodwill), discloses: (a) a description of the impaired intangible asset and the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method for determining fair value, (c) the caption in the income statement or the statement of activities in which the impairment loss is aggregated, and (d) the segment in which the impaired intangible asset is reported. For each goodwill impairment loss recognized, discloses: (a) a description of the facts and circumstances leading to the impairment, (b) the amount of the impairment loss and the method of determining the fair value of the associated reporting unit, and (c) if a recognized impairment loss is an estimate not finalized and the reasons why the estimate is not final. May also disclose the nature and amount of any significant adjustments made to a previous estimate of an impairment loss.

+ References + Details

Debt

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Debt

As discussed in Note 3, "Discontinued Operations," on June 30, 2016, the Company completed a Spin-Off of the equipment rental business. Amounts presented herein relate to the debt associated with the continuing operations.

The table below reflects the Company's debt, including its available credit facilities, as of December 31, 2016 (in millions). Subsequently, the Company entered into several amendments thereby extending the maturities of certain debt obligations as further described later in this footnote.



Facility	Weighted Average Interest Rate at December 31, 2016	Fixed or Floating Interest Rate	Maturity	December 31, 2016			December 31, 2015
Non-Vehicle Debt
Senior Term Loan	3.50%	Floating	6/2023	$	697		$	—
Senior RCF	N/A	Floating	6/2021	—			—
Senior Term Facility	N/A	N/A	N/A	—			2,062
Senior ABL Facility	N/A	N/A	N/A	—			—
Senior Notes⁽¹⁾	6.07%	Fixed	4/2018–10/2024	3,200			3,900
Promissory Notes	7.00%	Fixed	1/2028	27			27
Other Non-Vehicle Debt	2.03%	Fixed	Various	10			2
Unamortized Debt Issuance Costs and Net (Discount) Premium				(39		)	(44		)
Total Non-Vehicle Debt				3,895			5,947



Facility	Weighted Average Interest Rate at December 31, 2016	Fixed or Floating Interest Rate	Maturity	December 31, 2016	December 31, 2015
Vehicle Debt
HVF U.S. Vehicle Medium Term Notes
HVF Series 2010-1⁽²⁾	4.96%	Fixed	2/2018	115	240
HVF Series 2011-1⁽²⁾	3.51%	Fixed	3/2017	115	230
HVF Series 2013-1⁽²⁾	1.91%	Fixed	8/2018	625	950
				855	1,420
HVF II U.S. ABS Program
HVF II U.S. Vehicle Variable Funding Notes
HVF II Series 2013-A⁽²⁾	1.68%	Floating	10/2017	1,844	980
HVF II Series 2013-B⁽²⁾	1.74%	Floating	10/2017	626	1,308
HVF II Series 2014-A	N/A	N/A	N/A	—	1,737
				2,470	4,025
HVF II U.S. Vehicle Medium Term Notes
HVF II Series 2015-1⁽²⁾	2.93%	Fixed	3/2020	780	780
HVF II Series 2015-2⁽²⁾	2.30%	Fixed	9/2018	250	250
HVF II Series 2015-3⁽²⁾	2.96%	Fixed	9/2020	350	350
HVF II Series 2016-1⁽²⁾	2.72%	Fixed	3/2019	439	—
HVF II Series 2016-2⁽²⁾	3.25%	Fixed	3/2021	561	—
HVF II Series 2016-3⁽²⁾	2.56%	Fixed	7/2019	400	—
HVF II Series 2016-4⁽²⁾	2.91%	Fixed	7/2021	400	—
				3,180	1,380
Donlen ABS Program
HFLF Variable Funding Notes
HFLF Series 2013-2⁽²⁾	1.77%	Floating	9/2018	410	370
				410	370
HFLF Medium Term Notes
HFLF Series 2013-3⁽⁵⁾	1.55%	Floating	1/2017–5/2017	96	270
HFLF Series 2014-1⁽⁵⁾	1.32%	Floating	1/2017–12/2017	148	288
HFLF Series 2015-1⁽⁵⁾	1.31%	Floating	1/2017–11/2019	248	295
HFLF Series 2016-1⁽⁵⁾	1.92%	Floating	6/2017–4/2019	385	—
				877	853
Other Vehicle Debt
U.S. Vehicle RCF⁽³⁾	3.11%	Floating	6/2021	193	—
U.S. Vehicle Financing Facility	N/A	N/A	N/A	—	190
European Revolving Credit Facility	2.38%	Floating	10/2017	147	273
European Vehicle Notes⁽⁴⁾	4.29%	Fixed	1/2019–10/2021	677	464
European Securitization⁽²⁾	1.55%	Floating	10/2018	312	267
Canadian Securitization⁽²⁾	1.92%	Floating	1/2018	162	148
Australian Securitization⁽²⁾	3.14%	Floating	7/2018	117	98
Brazilian Vehicle Financing Facility	N/A	N/A	N/A	—	7
New Zealand RCF	4.31%	Floating	9/2018	41	—
Capitalized Leases	2.50%	Floating	1/2017–9/2020	244	362
				1,893	1,809



Facility	Weighted Average Interest Rate at December 31, 2016	Fixed or Floating Interest Rate	Maturity	December 31, 2016			December 31, 2015
Unamortized Debt Issuance Costs and Net (Discount) Premium				(39		)	(34		)
Total Vehicle Debt				9,646			9,823
Total Debt				$	13,541		$	15,770

N/A - Not Applicable


(1)	References to the "Senior Notes" include the series of Hertz's unsecured senior notes set forth on the table below. Outstanding principal amounts for each such series of the Senior Notes is also specified below:



(In millions)	Outstanding Principal
Senior Notes	December 31, 2016		December 31, 2015
4.25% Senior Notes due April 2018	$	250	$	250
7.50% Senior Notes due October 2018	—		700
6.75% Senior Notes due April 2019	450		1,250
5.875% Senior Notes due October 2020	700		700
7.375% Senior Notes due January 2021	500		500
6.25% Senior Notes due October 2022	500		500
5.50% Senior Notes due October 2024	800		—
	$	3,200	$	3,900


(2)	Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness expect the relevant indebtedness to be repaid. The legal final maturity date is the date on which the relevant indebtedness is legally due and payable.


(3)	Approximately $67 million of the aggregate maximum borrowing capacity under the U.S. Vehicle RCF is scheduled to expire in January 2018.


(4)	References to the "European Vehicle Notes" include the series of HHN BV's (as defined below) unsecured senior notes (converted from Euros to U.S. dollars at a rate of 1.04 to 1) set forth on the table below. Outstanding principal amounts for each such series of the European Vehicle Notes is also specified below:



(In millions)	Outstanding Principal
European Vehicles Notes	December 31, 2016		December 31, 2015
4.375% Senior Notes due January 2019	$	443	$	464
4.125% Senior Notes due October 2021	234		—
	$	677	$	464

(5)

In the case of the HFLF Medium Term Notes, such notes are repayable from cash flows derived from third-party leases comprising the underlying HFLF collateral pool. The initial maturity date referenced for each series of HFLF Medium Term Notes represents the end of the revolving period for such series, at which time the related notes begin to amortize monthly by an amount equal to the lease collections payable to that series. To the extent the revolving period already has ended, the initial maturity date reflected is January 2017. The second maturity date referenced for each series of HFLF Medium Term Notes represents the date by which Hertz and the investors in the related series expect such series of notes to be repaid in full, which is based upon various assumptions made at the time of pricing of such notes, including the contractual amortization of the underlying leases as well as the assumed rate of prepayments of such leases. Such maturity reference is to the “expected final maturity date” as opposed to the subsequent “legal final maturity date”. The legal final maturity date is the date on which the relevant indebtedness is legally due and payable. Although the underlying lease cash flows that support the repayment of the HFLF Medium Term Notes may vary, the cash flows generally are expected to approximate a straight line amortization of the related notes from the initial maturity date through the expected final maturity date.

Non-Vehicle Debt

Senior Credit Facilities

In June 2016, in connection with the Spin-Off, the Senior Term Facility and the Senior ABL Facility were repaid in full and terminated.

Senior Facilities

Also in connection with the Spin-Off, Hertz entered into a credit agreement with respect to a new senior secured term facility (the “Senior Term Loan”) with a $700 million initial principal balance and a $1.7 billion senior secured revolving credit facility (the “Senior RCF” and, together with the Senior Term Loan, the “Senior Facilities”) with a portion of the Senior RCF available for the issuance of letters of credit and the issuance of swing line loans.

The interest rate applicable to the Senior Term Loan is based on a floating rate (subject to a LIBOR floor of 0.75%) that varies depending on Hertz’s consolidated total net corporate leverage ratio. The interest rates applicable to the Senior RCF are based on a floating rate that varies depending on Hertz’s consolidated total net corporate leverage ratio and corporate ratings.

In February 2017, certain terms of the credit agreement governing Senior Facilities were amended with the consent of the required lenders under the Senior RCF and such credit agreement. The amendment, among other things, (i) amends the terms of the financial maintenance covenant for the Senior RCF to test, when applicable, Hertz’s consolidated first lien net leverage ratio in lieu of Hertz’s consolidated total net corporate leverage ratio, (ii) provides that Hertz shall not make dividends and certain restricted payments until a leverage ratio test is satisfied, (iii) adds a new covenant restricting the incurrence of certain corporate indebtedness, (iv) caps the amount of unrestricted cash that may be netted for purposes of calculating the consolidated first lien net leverage ratio at $500 million unless a specified consolidated total gross corporate leverage ratio is met for a specified period (as further described later in this footnote under "Covenant Compliance") and (v) amends certain financial definitions relating to the foregoing.

Senior Notes

In July 2016, Hertz redeemed all $700 million of its 7.50% Senior Notes due 2018.

In September 2016, Hertz issued $800 million in aggregate principal amount of 5.50% Senior Notes due 2024. The proceeds of this issuance, together with available cash, were used in October 2016 to redeem $800 million of the 6.75% Senior Notes due 2019.

Hertz's obligations under the indentures for the Senior Notes are guaranteed by each of its direct and indirect U.S. subsidiaries that are guarantors under the Senior Facilities. The guarantees of all of the Subsidiary Guarantors may be released to the extent such subsidiaries no longer guarantee the Company's Senior Facilities in the U.S.

Vehicle Debt

The governing documents of certain of the vehicle debt financing arrangements specified below contain covenants that, among other things, significantly limit or restrict (or upon certain circumstances may significantly restrict or prohibit) the ability of the borrowers/issuers, and the guarantors if applicable, to make certain restricted payments (including paying dividends, redeeming stock, making other distributions, loans or advances) to Hertz Holdings and Hertz, whether directly or indirectly. To the extent applicable, aggregate maximum borrowings are subject to borrowing base availability. There is subordination within certain series of vehicle debt based on class. Proceeds from the issuance of vehicle debt is typically used to acquire or refinance vehicles or to repay portions of outstanding principal amounts of vehicle debt with an earlier maturity.

HVF U.S. Vehicle Medium Term Notes

References to the “HVF U.S. Vehicle Medium Term Notes” include HVF's Series 2010-1 Notes, Series 2011-1 Notes and Series 2013-1 Notes, collectively.

HVF Series 2010-1 Notes: In July 2010, HVF issued the Series 2010-1 Rental Car Asset Backed Notes (the "HVF Series 2010-1 Notes") in an aggregate original principal amount of $750 million.

HVF Series 2011-1 Notes: In June 2011, HVF issued the Series 2011-1 Rental Car Asset Backed Notes (the "HVF Series 2011-1 Notes") in an aggregate original principal amount of $598 million.

HVF Series 2013-1 Notes: In January 2013, HVF issued $950 million in an aggregate original principal amount of three year and five year Series 2013-1 Rental Car Backed Notes, Class A and Class B (collectively, the "HVF Series 2013-1 Notes").

HVF II U.S. ABS Program

In November 2013, Hertz established a securitization platform, the HVF II U.S. ABS Program, designed to facilitate its financing activities relating to the vehicles used by Hertz in the U.S. daily vehicle rental operations of its Hertz, Dollar, and Thrifty brands. Hertz Vehicle Financing II LP, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Hertz ("HVF II") is the issuer under the HVF II U.S. ABS Program. HVF II has entered into a base indenture that permits it to issue term and revolving rental vehicle asset-backed securities, secured by one or more shared or segregated collateral pools consisting primarily of portions of the rental vehicles used in its U.S. vehicle rental operations and contractual rights related to such vehicles that have been allocated as the ultimate indirect collateral for HVF II's financings.

The assets of HVF II and HVF II GP Corp. are owned by HVF II and HVF II GP Corp., respectively, and are not available to satisfy the claims of Hertz’s general creditors.

References to the “HVF II U.S. ABS Program” include HVF II’s U.S. Vehicle Variable Funding Notes and HVF II's U.S. Vehicle Medium Term Notes.

HVF II U.S. Vehicle Variable Funding Notes

References to the “HVF II U.S. Vehicle Variable Funding Notes” include the HVF II Series 2013-A Notes, the HVF II Series 2013-B Notes and the HVF II Series 2014-A Notes.

In June 2016, HVF II terminated $20 million of commitments under the HVF II Series 2013-B Notes and transitioned approximately $500 million of commitments available under the HVF II Series 2013-B Notes to the HVF II Series 2013-A Notes.

In August 2016, the HVF II Series 2014-A Notes were repaid in full and terminated.

At December 31, 2016, the aggregate maximum principal amount of the HVF II Series 2013-A Class A Notes was $2.2 billion, the aggregate maximum principal amount of the HVF II Series 2013-B Class A Notes was $1.0 billion, the aggregate maximum principal amount of the HVF II Series 2013-A Class B Notes was $35 million and the aggregate maximum principal amount of the HVF II Series 2013-B Class B Notes was $40 million.

In February 2017, HVF II entered into various amendment agreements pursuant to which certain terms of the HVF II Series 2013-A Notes and the HVF II Series 2013-B Notes were amended. The amendments, among other things, extended the maturities of $3.2 billion aggregate maximum principal amount available under the HVF II Series 2013-A Notes and the HVF II Series 2013-B Notes from October 2017 to January 2019.

HVF II U.S. Vehicle Medium Term Notes

References to the “HVF II U.S. Vehicle Medium Term Notes” include the HVF II Series 2015-1 Notes, the HVF II Series 2015-2 Notes, HVF II Series 2015-3 Notes, HVF II Series 2016-1 Notes, HVF II Series 2016-2 Notes, HVF II Series 2016-3 Notes and the HVF II Series 2016-4 Notes.

HVF II Series 2015-1 Notes: In April 2015, HVF II issued the Series 2015-1 Rental Car Asset-Backed Notes, Class A, Class B, and Class C (collectively, the “HVF II Series 2015-1 Notes”) in an aggregate principal amount of $780 million. The HVF II Series 2015-1 Notes are comprised of $622 million aggregate principal amount of 2.73% Rental Car Asset-Backed Notes, Class A, $119 million aggregate principal amount of 3.52% Rental Car Asset-Backed Notes, Class B, and $39 million aggregate principal amount of 4.35% Rental Car Asset-Backed Notes, Class C.

HVF II Series 2015-2 Notes and HVF II Series 2015-3 Notes: In October 2015, HVF II issued the Series 2015-2 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D (collectively, the “HVF II Series 2015-2 Notes”) and Series 2015-3 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D (collectively, the “HVF II Series 2015-3 Notes”) in an aggregate principal amount of $636 million. An affiliate of HVF II purchased the Class D Notes of each such series, and as a result approximately $36 million of the aggregate principal amount is eliminated in consolidation.

HVF II Series 2016-1 Notes and HVF II Series 2016-2 Notes: In February 2016, HVF II issued the Series 2016-1 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D (collectively, the “HVF II Series 2016-1 Notes”) and Series 2016-2 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D (collectively, the “HVF II Series 2016-2 Notes”) in an aggregate principal amount of approximately $1.1 billion. An affiliate of HVF II purchased the Class D Notes of each such series, and as a result approximately $61 million of the aggregate principal amount is eliminated in consolidation.

HVF II Series 2016-3 Notes and HVF II Series 2016-4 Notes: In June 2016, HVF II issued the Series 2016-3 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D (collectively, the "HVF II Series 2016-3 Notes") and Series 2016-4 Rental Car Asset Backed Notes, Class A, Class B, Class C and Class D (collectively, the "HVF II Series 2016-4 Notes") in an aggregate principal amount of approximately $848 million. An affiliate of HVF II purchased the Class D Notes of each such series, and as a result approximately $48 million of the aggregate principal amount is eliminated in consolidation.

Donlen ABS Program

Hertz Vehicle Lease Funding LP, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Donlen ("HFLF") is the issuer under the Donlen U.S. ABS Program. HFLF has entered into a base indenture that permits it to issue term and revolving vehicle lease asset-backed securities. Donlen utilizes the HFLF securitization platform to finance its U.S. vehicle leasing operations. The notes issued by HFLF are ultimately backed by a special unit of beneficial interest in a pool of leases and the related vehicles.

References to the “Donlen ABS Program” include HFLF’s Variable Funding Notes together with HFLF’s Medium Term Notes.

HFLF Variable Funding Notes

HFLF Series 2013-2 Notes: In connection with the establishment of the HFLF financing platform, in September 2013, HFLF executed a committed financing arrangement with an aggregate maximum principal amount of $500 million as upsized (the “HFLF Series 2013-2 Notes”).

HFLF Medium Term Notes

References to the “HFLF Medium Term Notes” include HFLF’s Series 2013-3 Notes, HFLF's Series 2014-1 Notes, HFLF's Series 2015-1 Notes, and HFLF's Series 2016-1 Notes.

HFLF Series 2013-3 Notes: In November 2013, HFLF issued $500 million in aggregate principal amount of Series 2013-3 Floating Rate Asset-Backed Notes, Class A, Class B, Class C and Class D (collectively, the "HFLF Series 2013-3 Notes"). The HFLF Series 2013-3 Notes are floating rate and carry an interest rate based upon a spread to one-month LIBOR.

HFLF Series 2014-1 Notes: In March 2014, HFLF issued $400 million in aggregate principal amount of Series 2014-1 Floating Rate Asset-Backed Notes, Class A, Class B, Class C, Class D, and Class E (collectively, the "HFLF Series 2014-1 Notes"). The HFLF Series 2014-1 Notes are floating rate and carry an interest rate based upon a spread to one-month LIBOR.

HFLF Series 2015-1 Notes: In June 2015, HFLF issued $300 million in aggregate principal amount of Series 2015-1 Floating Rate Asset-Backed Notes, Class A, Class B, Class C, Class D, and Class E (collectively, the “HFLF Series 2015-1 Notes”). The HFLF Series 2015-1 Notes are floating rate and carry an interest rate based upon a spread to one-month LIBOR. An affiliate of HFLF owns a portion of the obligation related to the Class E Notes as of December 31, 2016, and as a result approximately $5 million of the aggregate principal amount is eliminated in consolidation.

HFLF Series 2016-1 Notes: In April 2016, HFLF issued the Series 2016-1 Asset-Backed Notes, Class A, Class B, Class C, Class D, and Class E (collectively, the “HFLF Series 2016-1 Notes”) in an aggregate principal amount of $400 million. The HFLF Series 2016-1 Notes (other than the Class A-2 Notes which are fixed rate) are floating rate and carry an interest rate based upon a spread to one-month LIBOR. An affiliate of HFLF purchased the Class E Notes, and as a result approximately $15 million of the aggregate principal amount is eliminated in consolidation.

Vehicle Debt-Other

U.S. Vehicle Revolving Credit Facility

In June 2016, in connection with the Spin-Off, Hertz executed a U.S. Vehicle Revolving Credit Facility of $200 million (the “U.S. Vehicle RCF”). Eligible vehicle collateral for the U.S. Vehicle RCF includes retail vehicle sales inventory, certain vehicles in Hawaii and Kansas and other vehicles owned by certain of the Company’s U.S. operating companies.

U.S. Vehicle Financing Facility

In June 2016, in anticipation of the Spin-Off, Hertz and Puerto Ricancars, Inc., a Puerto Rican corporation and wholly-owned indirect subsidiary of Hertz ("PR Cars"), terminated the asset-based revolving credit facility (the "U.S. Vehicle Financing Facility") that was the primary vehicle financing for vehicle rental operations in Hawaii, Kansas, Puerto Rico and the U.S. Virgin Islands. Most vehicles that, prior to the Spin-Off, would have been financed under the U.S. Vehicle Financing Facility will be financed under the U.S. Vehicle RCF or the HVF II U.S. ABS Program going forward, as applicable.

European Vehicle Debt

References to the “European Vehicle Debt” include HHN BV's European Revolving Credit Facility and the European Vehicle Notes, collectively. The European Vehicle Debt is the primary vehicle financing for the Company's vehicle rental operations in Germany, Italy, Spain, Belgium and Luxembourg and finances a portion of its assets in the United Kingdom, France and The Netherlands, and may be expanded to provide vehicle financing in Australia, Canada, France, The Netherlands and Switzerland. The agreements governing the European Vehicle Debt contain covenants that apply to the Hertz credit group similar to those for the Senior Notes. The terms of the European Vehicle Debt permit HHN BV to incur additional indebtedness that would be pari passu with either the European Revolving Credit Facility or the European Vehicle Notes.

European Revolving Credit Facility

In June 2016, Hertz Holdings Netherlands B.V., an indirect wholly-owned subsidiary of Hertz organized under the laws of The Netherlands (“HHN BV”), amended its credit agreement ("European Revolving Credit Facility") to provide for aggregate maximum borrowings of up to €340 million during the peak season, for a seasonal commitment period into December 2016. Following the expiration of the seasonal commitment period, aggregate maximum borrowings available under the European Revolving Credit Facility reverted to up to €250 million.

In February 2017, HHN BV amended the European Revolving Credit Facility to extend the maturity of €235 million of the aggregate maximum borrowings available from October 2017 to January 2019.

European Vehicle Notes

In November 2013, HHN BV issued the 4.375% Senior Notes due January 2019 in an aggregate original principal amount of €425 million.

In September 2016, HHN BV issued 4.125% Senior Notes due October 2021 in an aggregate original principal amount of €225 million.

European Securitization

In July 2010, certain of the Company's foreign subsidiaries entered into a facility agreement that provides for aggregate maximum borrowings of €460 million, as subsequently amended, on a revolving basis under an asset-backed securitization facility (the “European Securitization”) The European Securitization is the primary vehicle financing for its vehicle rental operations in France and The Netherlands. The lenders under the European Securitization have been granted a security interest primarily in the owned rental vehicles used in its vehicle rental operations in France and The Netherlands and certain contractual rights related to such vehicles.

Canadian Securitizations

In September 2015, Hertz established a new securitization platform, the “Canadian Securitization”, designed to facilitate its financing activities relating to the vehicles used by Hertz in the Canadian daily vehicle rental operations of its Hertz, Dollar, and Thrifty brands. The lenders under the Canadian Securitization have been granted a security interest primarily in the owned rental vehicles used in the Company's vehicle rental operations in Canada and certain contractual rights related to such vehicles as well as certain other assets owned by the Hertz entities connected to the financing. TCL Funding Limited Partnership, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Hertz, or “Funding LP,” is the issuer under the Canadian Securitization. In connection with the establishment of the Canadian Securitization, Funding LP issued the Series 2015-A Variable Funding Rental Car Asset Backed Notes (the “Funding LP Series 2015-A Notes”) that provide for aggregate maximum borrowings of CAD$350 million on a revolving basis.

In February 2017, Funding LP amended the Canadian Securitization to extend the maturity of CAD$350 million aggregate maximum borrowings available from January 2018 to January 2019.

Australian Securitization

In November 2010, HA Fleet Pty Limited, an indirect wholly-owned subsidiary of Hertz entered into a facility agreement that provides for aggregate maximum borrowings of AUD$250 million on a revolving basis under an asset-backed securitization facility (the “Australian Securitization”). The Australian Securitization is the primary fleet financing for Hertz's vehicle rental operations in Australia. The lender under the Australian Securitization has been granted a security interest primarily in the owned rental vehicles used in its vehicle rental operations in Australia and certain contractual rights related to such vehicles.

Brazilian Vehicle Financing Facility

In October 2016, the Brazilian Vehicle Financing Facility was repaid in full and terminated.

New Zealand Revolving Credit Facility

In September 2016, Hertz New Zealand Holdings Limited, an indirect wholly-owned subsidiary of Hertz, entered into a credit agreement that provides for aggregate maximum borrowings of NZD$60 million on a revolving basis under an asset-based revolving credit facility (the “New Zealand RCF”). The New Zealand RCF is the primary vehicle financing facility for its vehicle rental operations in New Zealand.

Capitalized Leases-U.K. Leveraged Financing

References to the “Capitalized Leases” include the capitalized lease financings outstanding in the United Kingdom (the “U.K. Leveraged Financing”), Australia, The Netherlands and the U.S. The amount committed under the U.K. Leveraged Financing is the largest portion of the Capitalized Leases.

In June 2016, the U.K. Leveraged Financing was amended to provide for aggregate maximum leasing capacity (subject to asset availability) of up to £300 million during the peak season, for a seasonal commitment period into October 2016. Following the expiration of the seasonal commitment period, aggregate maximum borrowings available under the U.K Leveraged Financing reverted to up to £250 million.

In February 2017, the U.K. Leveraged Financing was amended to extend the maturity of £250 million aggregate maximum borrowings available from October 2017 to January 2019.

Loss on Extinguishment of Debt

The Company incurred losses associated with the early redemptions and terminations described above. Losses on extinguishment of debt are presented in vehicle and non-vehicle interest expense, net, as applicable in the accompanying statements of operations. The following table reflects the amount of losses for each respective redemption/termination:



Redemption/Termination (In millions)	Year Ended December 31, 2016
Non-Vehicle Debt:
Senior Term Facilities	$	15
7.50% Senior Notes due October 2018	18
6.75% Senior Notes due April 2019	16
Total Non-Vehicle	49
Vehicle Debt:
HVF II Series 2014-A	6
Total Vehicle	6
Total Loss on Extinguishment of Debt	$	55

There were no losses on extinguishment of debt for the year ended December 31, 2015 and the amount in 2014 was $1 million.

Maturities

At December 31, 2016, prior to giving effect to the February 2017 amendments to certain facilities, the nominal amounts of maturities of debt for each of the years ending December 31 are as follows:



(In millions)	2017		2018		2019		2020		2021		After 2021
Non-Vehicle Debt	$	8	$	266	$	457	$	707	$	507	$	1,989
Vehicle Debt	3,424		2,018		1,672		1,248		1,323		—
Total	$	3,432	$	2,284	$	2,129	$	1,955	$	1,830	$	1,989

The Company is highly leveraged and a substantial portion of its liquidity needs arise from debt service on its indebtedness and from the funding of its costs of operations, acquisitions and capital expenditures. The Company’s practice is to maintain sufficient liquidity through cash from operations, credit facilities and other financing arrangements, to mitigate any adverse impact on its operations resulting from adverse financial market conditions. At December 31, 2016 there was approximately $3.4 billion of vehicle debt maturing in 2017. Prior to the February 2017 amendments, the Senior RCF contained a financial maintenance covenant that tested Hertz’s consolidated total net corporate leverage ratio, as defined in the pre-amended Senior RCF Credit Agreement, as of the last day of each fiscal quarter commencing September 30, 2016. With the maximum ratio under such consolidated net corporate leverage ratio test decreasing from a maximum of 5.25 to 1.00 for the quarter ending September 30, 2016 to 4.75 to 1.00 for the quarters ending December 31, 2016 and March 31, 2017, in February 2017, Hertz amended the Senior RCF and certain vehicle debt agreements to replace the consolidated total net corporate leverage ratio test with a consolidated first lien net leverage ratio test and extend the maturities of certain vehicle debt. Such amendments and extensions reduced the risk of a financial maintenance covenant default under the Senior RCF in the future. The following table reflects the nominal amounts of maturities of debt for each of the years ending December 31, as adjusted to reflect the impact of the February 2017 amendments:



(In millions)	2017			2018		2019		2020		2021		After 2021
Non-Vehicle Debt	$	8		$	266	$	457	$	707	$	507	$	1,989
Vehicle Debt	809		(a)	1,856		4,449		1,248		1,323		—
Total	$	817		$	2,122	$	4,906	$	1,955	$	1,830	$	1,989

(a) Approximately $156 million of the vehicle debt maturing in 2017 is comprised of capitalized leases financed under the U.K. Leveraged Financing

that matures in January 2019.

Subsequent to the February 2017 amendments, approximately $809 million of vehicle debt will mature in 2017. The Company has reviewed the vehicle debt that will mature in 2017 and determined that it is probable that the Company will be able, and has the intent, to refinance these maturities. If the Company were not able to refinance these maturities, it has available liquidity sufficient to repay them at the maturity date. Information regarding the financial maintenance covenants under the Senior RCF, as amended, is disclosed in the "Covenant Compliance" section that follows herein.

Borrowing Capacity and Availability

Borrowing capacity and availability comes from the Company's "revolving credit facilities," which are a combination of variable funding asset-backed securitization facilities, cash-flow-based revolving credit facilities and asset-based revolving credit facilities. Creditors under each such asset-backed securitization facility and asset-based revolving credit facility have a claim on a specific pool of assets as collateral. The Company's ability to borrow under each such asset-backed securitization facility and asset-based revolving credit facility is a function of, among other things, the value of the assets in the relevant collateral pool. With respect to each such asset-backed securitization facility and asset-based revolving credit facility, the Company refers to the amount of debt it can borrow given a certain pool of assets as the borrowing base.

The Company refers to "Remaining Capacity" as the maximum principal amount of debt permitted to be outstanding under the respective facility (i.e., with respect to a variable funding asset-backed securitization facility or asset-based revolving credit facility, the amount of debt the Company could borrow assuming it possessed sufficient assets as collateral) less the principal amount of debt then-outstanding under such facility. With respect to a variable funding asset-backed securitization facility or asset-based revolving credit facility, the Company refers to "Availability Under Borrowing Base Limitation" as the lower of Remaining Capacity or the borrowing base less the principal amount of debt then-outstanding under such facility (i.e., the amount of debt that can be borrowed given the collateral possessed at such time). With respect to the Senior RCF, "Availability Under Borrowing Base Limitation" is the same as "Remaining Capacity" since borrowings under the Senior RCF are not subject to a borrowing base.

The following facilities were available to the Company as of December 31, 2016, and are presented net of any outstanding letters of credit:



(In millions)	Remaining Capacity		Availability Under Borrowing Base Limitation
Non-Vehicle Debt
Senior RCF	$	1,130	$	1,130
Total Non-Vehicle Debt	1,130		1,130
Vehicle Debt
U.S. Vehicle RCF	—		—
HVF II U.S. Vehicle Variable Funding Notes	780		—
HFLF Variable Funding Notes	90		—
U.S. Vehicle Financing Facility	7		5
European Revolving Credit Facility	115		—
European Securitization	167		—
Canadian Securitization	96		10
Australian Securitization	62		—
Capitalized Leases	94		—
New Zealand RCF	—		—
Total Vehicle Debt	1,411		15
Total	$	2,541	$	1,145

Letters of Credit

As of December 31, 2016, there were outstanding standby letters of credit totaling $582 million. Such letters of credit have been issued primarily to support the Company's vehicle rental concessions and leaseholds and its insurance programs as well as to provide credit enhancement for its asset-backed securitization facilities. Of this amount, $570 million was issued under the Senior RCF, which has a $1.0 billion letter of credit sublimit, resulting in $430 million of availability under such sublimit. As of December 31, 2016, none of these letters of credit have been drawn upon.

Special Purpose Entities

Substantially all of the revenue earning vehicles and certain related assets are owned by special purpose entities, or are encumbered in favor of the lenders under the various credit facilities, other secured financings and asset-backed securities programs. None of such assets (including the assets owned by Hertz Vehicle Financing II LP, Hertz Vehicle Financing LLC, Rental Car Finance LLC, DNRS II LLC, HFLF, Donlen Trust and various international subsidiaries that facilitate the Company's international securitizations) are available to satisfy the claims of general creditors.

These special purpose entities are consolidated variable interest entities, of which the Company is the primary beneficiary, whose sole purpose is to provide commitments to lend in various currencies subject to borrowing bases comprised of revenue earning vehicles and related assets of certain of Hertz International, Ltd.'s subsidiaries. As of December 31, 2016 and 2015, its International Vehicle Financing No. 1 B.V., International Vehicle Financing No. 2 B.V. and HA Funding Pty, Ltd. variable interest entities had total assets of $454 million and $418 million, respectively, primarily comprised of loans receivable and revenue earning vehicles, and total liabilities of $454 million and $418 million, respectively, primarily comprised of debt.

Covenant Compliance

Hertz and its subsidiaries are referred to as the Hertz credit group. The indentures for the Senior Notes contain covenants that, among other things, limit or restrict the ability of the Hertz credit group to incur additional indebtedness, incur guarantee obligations, prepay certain indebtedness, make certain restricted payments (including paying dividends, redeeming stock or making other distributions to parent entities of Hertz and other persons outside of the Hertz credit group), make investments, create liens, transfer or sell assets, merge or consolidate, and enter into certain transactions with Hertz's affiliates that are not members of the Hertz credit group.

Certain of the Company's other debt instruments and credit facilities (including the Senior Facilities) contain a number of covenants that, among other things, limit or restrict the ability of the borrowers and the guarantors to dispose of assets, incur additional indebtedness, incur guarantee obligations, prepay certain indebtedness, make certain restricted payments (including paying dividends, share repurchases or making other distributions), create liens, make investments, make acquisitions, engage in mergers, fundamentally change the nature of their business, make capital expenditures, or engage in certain transactions with certain affiliates. The Senior RCF contains a financial maintenance covenant that is only applicable to the Senior RCF. This financial covenant and related components of its computation are defined in the credit agreement related to the Senior RCF.

The credit agreement governing our Senior Facilities requires us upon a change of control, as defined therein, to make an offer to repay in full all amounts outstanding thereunder upon such a change of control. Our failure to make such an offer would result in an event of default thereunder. In addition, the indentures governing our Senior Notes require us upon a change of control, as defined therein, to make an offer to repurchase all of such outstanding Senior Notes at a price equal to 101% of the principal amount, together with any accrued and unpaid interest. If we failed to repurchase the Senior Notes, we would be in default under the related indenture. Certain of our other indebtedness also could result in defaults and/or amortization events upon the occurrence of certain change of control events, as defined therein.

As disclosed above, in February 2017, Hertz amended the terms of the financial maintenance covenant for the Senior RCF to test, when applicable, Hertz’s consolidated first lien net leverage ratio. Prior to such amendment, the financial maintenance covenant that had been in effect since June 30, 2016 tested Hertz’s consolidated total net corporate leverage ratio, as previously defined in the Senior RCF Credit Agreement. The amended financial covenant provides that Hertz’s consolidated first lien net leverage ratio, as defined in the Senior RCF Credit Agreement, as of the last day of any fiscal quarter (the "Covenant Leverage Ratio"), commencing with December 31, 2016, may not exceed the ratios indicated below:



Fiscal Quarter(s) Ending	Maximum Ratio
December 31, 2016	3.00	to	1.00
March 31, 2017	3.25	to	1.00
June 30, 2017	3.25	to	1.00
September 30, 2017	3.25	to	1.00
December 31, 2017 and each March 31, June 30, September 30 and December 31 ending thereafter	3.00	to	1.00

Cash Restrictions

Certain amounts of cash and cash equivalents are restricted for the purchase of revenue earning vehicles and other specified uses under the Vehicle Debt facilities and the LKE Program. As of December 31, 2016 and December 31, 2015, the portion of total restricted cash and cash equivalents that was associated with the Vehicle Debt facilities was $235 million and $289 million, respectively. Restricted cash balances fluctuate based on the timing of purchases and sales of revenue earning vehicles and could also be impacted by the occurrence of an amortization event.

Accrued Interest

As of December 31, 2016 and 2015, accrued interest was $76 million and $82 million, respectively, which is reflected in the accompanying consolidated balance sheets in “Accrued liabilities.”

Restricted Net Assets

As a result of the contractual restrictions on Hertz's or its subsidiaries' ability to pay dividends (directly or indirectly) under various terms of its debt, as of December 31, 2016, the restricted net assets of the subsidiaries of Hertz and Hertz Global exceed 25% of their total consolidated net assets, respectively.

Employee Retirement Benefits

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Employee Retirement Benefits

The Company sponsors multiple domestic and international employee benefit plans. Benefits are based upon years of service and compensation.

The Hertz Corporation Account Balance Defined Benefit Pension Plan (the “Hertz Retirement Plan”) is a U.S. cash balance plan. The Hertz Retirement Plan was amended in 2014 to permanently discontinue future benefit accruals and participation under the plan for non-union employees. Some of the Company’s international subsidiaries have defined benefit retirement plans or participate in various insured or multiemployer plans. In certain countries, when the subsidiaries make the required funding payments, they have no further obligations under such plans. The Company's benefit plans are generally funded, except for certain nonqualified U.S. defined benefit plans and in Germany and France, where unfunded liabilities are recorded. The Company also sponsors defined contribution plans for certain eligible U.S. and non-U.S. employees, where contributions are matched based on specific guidelines in the plans.

The Company also sponsors postretirement health care and life insurance benefits for a limited number of employees with hire dates prior to January 1, 1990.

Employee Matters Agreement

As described in Note 3, "Discontinued Operations," Hertz Global and Herc Holdings entered into the “Employee Matters Agreement” to allocate liabilities and responsibilities relating to employment matters, employee compensation, benefit plans and programs and other related matters in connection with the Spin-Off. The Employee Matters Agreement governs the Company's and Herc Holdings’ obligations with respect to such matters for current and former employees of the vehicle rental business and the equipment rental business. The Employee Matters Agreement specifies the method by which the pension plans are split in connection with the Spin-Off. Pension liabilities and an associated asset allocation related to employees of the equipment rental business will be transferred to a new plan.

On June 30, 2016, in connection with the Spin-Off and transfer of assets and liabilities from combined U.S. pension and other post-retirement benefit plans to newly created Herc Holdings' plans, the Company remeasured pension and other post-retirement liabilities and assets for several of its U.S. plans. The remeasurement resulted in an increase to the Company's continuing operations net pension liability of $23 million compared to the net pension liability as of December 31, 2015. The significant weighted-average assumptions used at the June 30, 2016 measurement date were as follows.



Discount rate		3.5%
Expected rate of return on plan assets		7.2%
Average salary increase		4.3%

The following tables set forth the funded status and the net periodic pension cost of the Hertz Retirement Plan and other U.S. based retirement plans, other postretirement benefit plans including health care and life insurance plans covering domestic (“U.S.”) employees and the retirement plans for international operations (“Non-U.S.”), together with amounts included in the accompanying consolidated balance sheets and statements of operations:



	Pension Benefits												Postretirement
	U.S.						Non-U.S.						Benefits (U.S.)
(In millions)	2016			2015			2016			2015			2016			2015
Change in Benefit Obligation
Benefit obligation at January 1	$	687		$	726		$	235		$	274		$	15		$	15
Service cost	2			3			1			1			—			—
Interest cost	24			27			8			8			1			1
Employee contributions	—			—			—			—			1			—
Plan curtailments	(1		)	(1		)	—			—			—			—
Plan settlements	(31		)	(21		)	—			(6		)	—			—
Benefits paid	(4		)	(29		)	(5		)	(5		)	(2		)	(1		)
Foreign currency exchange rate translation	—			—			(37		)	(16		)	—			—
Actuarial loss (gain)	18			(18		)	55			(22		)	—			—
Transfers in connection with the Spin-Off	(157		)	—			—			—			(1		)	—
Other	—			—			—			1			—			—
Benefit obligation at December 31	$	538		$	687		$	257		$	235		$	14		$	15
Change in Plan Assets
Fair value of plan assets at January 1	$	575		$	619		$	200		$	212		$	—		$	—
Actual return on plan assets	48			(16		)	25			4			—			—
Company contributions	6			22			4			5			1			1
Employee contributions	—			—			—			—			1			—
Plan settlements	(31		)	(21		)	—			(6		)	—			—
Benefits paid	(4		)	(29		)	(5		)	(5		)	(2		)	(1		)
Foreign currency exchange rate translation	—			—			(36		)	(10		)	—			—
Transfers in connection with the Spin-Off	(125		)	—			—			—			—			—
Amounts associated with discontinued operations (yet to be transferred)	(10		)	—			—			—			—			—
Fair value of plan assets at December 31	$	459		$	575		$	188		$	200		$	—		$	—
Funded Status of the Plan
Plan assets less than benefit obligation⁽¹⁾	$	(79	)	$	(112	)	$	(69	)	$	(35	)	$	(14	)	$	(15	)

(1) For 2015, the U.S. plan includes $19 million of projected benefit obligations recorded in the liabilities of discontinued operations in the accompanying consolidated balance sheets.



	Pension Benefits												Postretirement
	U.S.						Non-U.S.						Benefits (U.S.)
($ in millions)	2016			2015			2016			2015			2016			2015
Amounts recognized in balance sheet:
Prepaid expenses and other assets	$	—		$	—		$	1		$	29		$	—		$	—
Accrued liabilities⁽¹⁾	$	(79	)	$	(112	)	$	(70	)	$	(64	)	$	(14	)	$	(15	)
Net obligation recognized in the balance sheet	$	(79	)	$	(112	)	$	(69	)	$	(35	)	$	(14	)	$	(15	)

Prior service credit	$	1		$	1		$	—		$	—		$	—		$	—
Net gain (loss)	(87		)	(128		)	(66		)	(33		)	—			1
Accumulated other comprehensive gain (loss)	(86		)	(127		)	(66		)	(33		)	—			1
Funded/(Unfunded) accrued pension or postretirement benefit	7			15			(3		)	(2		)	(14		)	(16		)
Net obligation recognized in the balance sheet	$	(79	)	$	(112	)	$	(69	)	$	(35	)	$	(14	)	$	(15	)

Total recognized in other comprehensive (income) loss	$	(41	)	$	31		$	33		$	(17	)	$	—		$	—
Total recognized in net periodic benefit cost and other comprehensive (income) loss	$	(36	)	$	27		$	31		$	(20	)	$	1		$	1
Estimated amounts that will be amortized from accumulated other comprehensive (income) loss over the next fiscal year:
Net loss	$	(4	)	$	(8	)	$	(1	)	$	—		$	—		$	—
Accumulated Benefit Obligation at December 31	$	535		$	683		$	255		$	234		N/A			N/A

Weighted-average assumptions as of December 31
Discount rate	4.0		%	4.3		%	2.5		%	3.6		%	3.9		%	4.2		%
Expected return on assets	7.0		%	7.2		%	5.2		%	6.1		%	N/A			N/A
Average rate of increase in compensation	4.3		%	4.3		%	2.8		%	2.6		%	N/A			N/A
Initial health care cost trend rate	N/A			N/A			N/A			N/A			6.7		%	6.9		%
Ultimate health care cost trend rate	N/A			N/A			N/A			N/A			4.5		%	4.5		%
Number of years to ultimate trend rate	N/A			N/A			N/A			N/A			22			23

(1) For 2015, the U.S. plan includes $19 million of projected benefit obligations recorded in the liabilities of discontinued operations in the accompanying consolidated balance sheets.

N/A - Not applicable

The discount rate used to determine the December 31, 2016 benefit obligations for U.S. pension plans is based on the rate from the Mercer Pension Discount Curve-Above Mean Yield that is appropriate for the duration of the Company's plan liabilities. For its plans outside the U.S., the discount rate reflects the market rates for an optimized subset of high-quality corporate bonds currently available. The discount rate in a country was determined based on a yield curve constructed from high quality corporate bonds in that country. The rate selected from the yield curve has a duration that matches its plan.

The expected return on plan assets for each funded plan is based on expected future investment returns considering the target investment mix of plan assets.

The following table sets forth the net periodic pension and postretirement (including health care, life insurance and auto) expense charged to net income (loss) from continuing operations:



	Pension Benefits																		Postretirement Benefits (U.S.)
	U.S.									Non-U.S.									Postretirement Benefits (U.S.)
	Years Ended December 31,
($ in millions)	2016			2015			2014			2016			2015			2014			2016			2015			2014
Components of Net Periodic
Service cost	$	2		$	3		$	23		$	1		$	1		$	2		$	—		$	—		$	—
Interest cost	24			21			25			8			8			10			1			1			1
Expected return on plan assets	(32		)	(31		)	(32		)	(11		)	(15		)	(15		)	—			—			—
Net amortizations	6			2			2			—			2			—			—			—			—
Settlement loss	5			4			4			—			1			—			—			—			—
Curtailment gain	—			—			(8		)	—			—			—			—			—			—
Special termination cost	—			—			4			—			—			—			—			—			—
Net pension and postretirement expense (benefit)	$	5		$	(1	)	$	18		$	(2	)	$	(3	)	$	(3	)	$	1		$	1		$	1
Weighted-average discount rate for expense (January 1)	4.3		%	3.9		%	4.8		%	3.6		%	3.3		%	3.2		%	4.2		%	3.8		%	4.4		%
Weighted-average assumed long-term rate of return on assets (January 1)	7.2		%	7.4		%	7.6		%	6.1		%	7.3		%	7.4		%	N/A			N/A			N/A
Initial health care cost trend rate	N/A			N/A			N/A			N/A			N/A			N/A			6.9		%	7.3		%	7.5		%
Ultimate health care cost trend rate	N/A			N/A			N/A			N/A			N/A			N/A			4.5		%	4.5		%	4.5		%
Number of years to ultimate trend rate	N/A			N/A			N/A			N/A			N/A			N/A			22			14			15

N/A - Not applicable

The net of tax loss in “Accumulated other comprehensive income (loss)” at December 31, 2016 and 2015 relating to pension benefits of the Hertz Retirement Plan was $110 million and $102 million, respectively. Changing the assumed health care cost trend rates by one percentage point is not expected to have a material impact on the total of service and interest cost components or on the postretirement benefit obligation.

The provisions charged to net income (loss) from continuing operations for the years ended December 31, 2016, 2015 and 2014 for all other pension plans were approximately $9 million, $10 million and $9 million, respectively.

Net pension and postretirement expense for the year ended December 31, 2016 includes a settlement loss of approximately $5 million relating to lump-sum distributions to participants primarily due to restructuring actions taken during the year.

The provisions charged to net income (loss) from continuing operations for the years ended December 31, 2016, 2015 and 2014 for the defined contribution plans were approximately $23 million, $25 million and $14 million, respectively.

Plan Assets

The Company has a long-term investment outlook for the assets held in the Company sponsored plans, which is consistent with the long-term nature of each plan's respective liabilities. The Company has two major plans which reside in the U.S. and the U.K.

The U.S. Plan (the “Plan”) currently has a target asset allocation of 65% equity and 35% fixed income. The equity portion of the Plan is invested in one passively managed S&P 500 index fund, one passively managed U.S. small/midcap fund, one actively managed international fund and one actively managed emerging markets fund. The fixed income portion of the Plan is actively managed by professional investment managers and is benchmarked to the Bloomberg Barclays U.S. Long Government/Credit index. The Plan assumes a 7.0% rate of return on assets expected long-term annual weighted-average for the Plan in total.

The U.K. Plan has a target allocation of 37.5% actively managed multi-asset funds, 27.5% passive equity funds and 35% passive bond funds. The actively managed multi-asset funds are intended to deliver a long-term equity-like return but with reduced levels of volatility. The target allocation for the passive bonds is 70% in index-linked government bonds and 30% in corporate bonds. The target allocation for the equity funds are that 45% are held in U.K. Equities and the remainder diversified across global markets. All of the invested assets of the U.K. Plan are held via pooled funds managed by professional investment managers. The U.K. Plan assumes a 5.2% rate of return on assets expected long-term weighted-average for the Plan in total.

The fair value measurements of the Company's U.S. pension plan assets are based upon inputs that reflect quoted prices for identical assets or liabilities in active markets that are observable (Level 1) and significant observable inputs (Level 2) that reflect quoted prices for similar assets or liabilities in active markets. The fair value measurements of the U.S. pension plan assets relate to common collective trusts and other pooled investment vehicles consisting of the following asset categories:



(In millions)	December 31, 2016					December 31, 2015
Asset Category	Level 1		Level 2			Level 1		Level 2
Cash	$	3	$	—		$	2	$	—
Short Term Investments	$	—	$	—		$	—	$	5
Equity Funds:
U.S. Large Cap	—		135			—		158
U.S. Mid Cap	—		36			—		36
U.S. Small Cap	—		30			—		45
International Large Cap	—		77			—		96
International Emerging Markets	—		23			—		29
Asset-Backed Securities	—		6			—		5
Fixed Income Securities:	—
U.S. Treasuries	—		46			—		61
Corporate Bonds	—		88			—		110
Government Bonds	—		6			—		9
Municipal Bonds	—		11			—		10
Real Estate (REITs)	—		8			—		9
Amounts associated with discontinued operations (yet to be transferred)	—		(10		)	—		—
Total fair value of pension plan assets	$	3	$	456		$	2	$	573

The Company's U.K. Plan accounts for $182 million of the $188 million in fair value of Non-U.S. plan assets at December 31, 2016. The fair value measurements of the U.K. Plan assets are based upon inputs that reflect significant observable inputs (Level 2) and relate to common collective trusts and other pooled investment vehicles consisting of the following asset categories:



(In millions)	December 31, 2016		December 31, 2015
Asset Category	Level 2		Level 2
Actively Managed Multi-Asset Funds:
Diversified Growth Funds	$	65	$	75
Passive Equity Funds:
U.K. Equities	24		25
Overseas Equities	29		31
Passive Bond Funds:
Corporate Bonds	20		20
Index-Linked Gilts	44		44
Total fair value of pension plan assets	$	182	$	195

Contributions

The Company's policy for funded plans is to contribute annually, at a minimum, amounts required by applicable laws, regulations and union agreements. From time to time, the Company makes contributions beyond those legally required. In 2016 and 2015, the Company did not make any cash contributions to its U.S. qualified pension plan.

In 2016, the Company made contributions to its U.S. non-qualified pension plans of $6 million. In 2015, the Company made contributions to its U.S. non-qualified pension plans of $22 million. The Company made a $3 million discretionary contribution to its United Kingdom defined benefit pension plan (the "U.K. Plan") during each of the years ended December 31, 2016 and 2015.

The Company does not anticipate contributing to the U.S. qualified pension plan during 2017. For the international plans the Company anticipates contributing $3 million during 2017. The level of 2017 and future contributions will vary, and is dependent on a number of factors including investment returns, interest rate fluctuations, plan demographics, funding regulations and the results of the final actuarial valuation.

Estimated Future Benefit Payments

The following table presents estimated future benefit payments:



(In millions)	Pension Benefits		Postretirement Benefits (U.S.)
2017	$	36	$	1
2018	37		1
2019	40		1
2020	42		1
2021	45		1
After 2021	237		6
	$	437	$	11

Multiemployer Pension Plans

The Company contributes to several multiemployer defined benefit pension plans under collective bargaining agreements that cover certain of its union-represented employees. The risks of participating in such plans are different from the risks of single-employer plans, in the following respects:


a)	Assets contributed to a multiemployer plan by one employer may be used to provide benefits to employees of other participating employers.


b)	If a participating employer ceases to contribute to the plan, the unfunded obligations of the plan may be borne by the remaining participating employers.

If the Company ceases to have an obligation to contribute to the multiemployer plan in which the Company had been a contributing employer, the Company may be required to pay to the plan an amount based on the underfunded status of the plan and on the history of its participation in the plan prior to the cessation of its obligation to contribute. The amount that an employer that has ceased to have an obligation to contribute to a multiemployer plan is required to pay to the plan is referred to as a withdrawal liability.

The Company's participation in multiemployer plans for the annual period ended December 31, 2016 is outlined in the table below. For plans that are not individually significant to the Company, the total amount of contributions is presented in the aggregate.



	EIN /Pension Plan Number	Pension Protection Act Zone Status		FIP / RP Status Pending /Implemented⁽¹⁾	Contributions by The Hertz Corporation (In millions)						Surcharge Imposed	Expiration Dates of Collective Bargaining Agreements
Pension Fund	EIN /Pension Plan Number	2016	2015	FIP / RP Status Pending /Implemented⁽¹⁾	2016		2015		2014		Surcharge Imposed	Expiration Dates of Collective Bargaining Agreements
Western Conference of Teamsters	91-6145047	Green	Green	NA	$	6	$	6	$	6	N/A	10/1/2017 - 10/1/2020
Other Plans⁽²⁾					3		4		3
Total Contributions					$	9	$	10	$	9


N/A	Not applicable


(1)	Indicates whether a Funding Improvement Plan, as required under the Code to be adopted by plans in the “yellow” zone, or a Rehabilitation Plan, as required under the Code to be adopted by plans in the “red” zone, is pending or has been implemented as of the end of the plan year that ended in 2016.


(2)	Included in the Other Plans are contributions to the Local 1034 Pension Fund. The amount contributed by Hertz to the Local 1034 Pension Fund was reported as being more than 5% of total contributions to the plan, on the fund's Form 5500 for the year ended December 31, 2015.

Stock-Based Compensation

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Stock-Based Compensation

The non-cash stock-based compensation expense associated with the Hertz Holdings stock-based compensation plans is pushed down from Hertz Global and recorded on the books at the Hertz level.

Plans

Prior to the Spin-Off, the Company's Board of Directors adopted, and the Company's sole stockholder approved, the Hertz Global Holdings, Inc. 2016 Omnibus Incentive Plan (the “Omnibus Plan”). The Omnibus Plan contains 6,600,000 shares which can be granted pursuant to the terms and conditions of the Omnibus Plan, plus an unspecified number of shares awarded in connection with distribution awards granted under the Omnibus Plan in accordance with the Employee Matters Agreement, in substitution of, or in accordance with, an outstanding award granted under an Old Hertz Holdings plan that was held by a participant immediately before the completion of the Spin-Off, as described in the next paragraph. The terms and conditions of the Omnibus Plan are substantially similar to the former Hertz Global Holdings, Inc. 2008 Omnibus Incentive Plan that was in place prior to the Spin-Off. The Omnibus Plan provides for grants of both equity and cash awards, including non-qualified stock options, incentive stock options, stock appreciation rights, performance awards (shares and units), restricted stock, restricted stock units and deferred stock units to key executives, employees and non-management directors.

In accordance with the Employee Matters Agreement entered into between the Hertz Global and Herc Holdings, as further described in Note 3, "Discontinued Operations," previously outstanding stock-based compensation awards granted under Old Hertz Holdings' equity compensation programs prior to the Spin-Off and held by certain executives and employees of Old Hertz Holdings were adjusted to reflect the impact of the Spin-Off on these awards. To preserve the aggregate intrinsic value of these stock-based compensation awards, as measured immediately before and immediately after the Spin-Off, each holder of Old Hertz Holdings stock-based compensation awards received an adjusted award consisting of a stock-based compensation award denominated in the equity of the company at which the person was employed following the Spin-Off. In the Spin-Off, the determination as to which type of adjustment applied to a holder’s previously outstanding Old Hertz Holdings award was based upon the type of stock-based compensation award that was to be adjusted and the date on which the award was originally granted under the Old Hertz Holdings equity compensation programs prior to the Spin-Off. At the Spin-Off, a total of 2,677,723 shares were awarded in connection with distribution awards granted pursuant to the Omnibus Plan in accordance with the Employee Matters Agreement.

As of December 31, 2016, there were 2,497,439 shares of Hertz Holdings common stock underlying awards outstanding under the Omnibus Plan.

In addition to the 2,497,439 shares underlying outstanding awards as of December 31, 2016, Hertz Holdings had 8,739,629 shares of its common stock available for issuance of which 6,710,697 shares are available under the Omnibus Plan. The shares of common stock to be delivered under the Omnibus Plan may consist, in whole or in part, of common stock held in treasury or authorized but unissued shares of common stock, not reserved for any other purpose.

Shares subject to any award (other than distribution awards) granted under the Omnibus Plan that for any reason are canceled, terminated, forfeited, settled in cash or otherwise settled without the issuance of common stock after the effective date of the Omnibus Plan will generally be available for future grants under the Omnibus Plan.

A summary of the total compensation expense and associated income tax benefits recognized under the Prior Plans and the Omnibus Plan, including the cost of stock options, restricted stock units ("RSUs"), and performance stock units ("PSUs"), is as follows:



	Years Ended December 31,
(In millions)	2016			2015			2014
Compensation expense	$	13		$	16		$	10
Income tax benefit	(5		)	(7		)	(4		)
Total	$	8		$	9		$	6

As of December 31, 2016, there was approximately $23 million of total unrecognized compensation cost related to non-vested stock options, RSUs and PSUs granted by Hertz Global under the Prior Plans and the Omnibus Plan. The total unrecognized compensation cost is expected to be recognized over the remaining 1.7 years, on a weighted average basis, of the requisite service period that began on the grant dates.

Stock Options and Stock Appreciation Rights

All stock options and stock appreciation rights granted under the Omnibus Plan will have a per-share exercise price of not less than the fair market value of one share of Hertz Global common stock on the grant date. Stock options and stock appreciation rights will vest based on a minimum period of service or the occurrence of events (such as a change in control, as defined in the Omnibus Plan) specified by the Compensation Committee of the Company's Board of Directors. No stock options or stock appreciation rights will be exercisable after a maximum of ten years from the grant date.

The Company has accounted for its employee stock-based compensation awards in accordance with ASC 718, “Compensation-Stock Compensation.” The options are being accounted for as equity-classified awards. The Company will recognize compensation cost on a straight-line basis over the vesting period. The value of each option award is estimated on the grant date using a Black-Scholes option valuation model that incorporates the assumptions noted in the following table.

The Company calculates the expected volatility based on the historical movement of its stock price.



	Grants
Assumption	2016			2015			2014
Expected volatility	44.2		%	41.4		%	39.3		%
Expected dividend yield	—		%	—		%	—		%
Expected term (years)	5			5			3
Risk-free interest rate	1.00		%	1.17		%	0.96		%
Weighted-average grant date fair value	$	39.35		$	29.09		$	28.30

A summary of option activity under the Stock Incentive Plan and the Omnibus Plan as of December 31, 2016 is presented below.



Options	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (In millions)
Outstanding at January 1, 2016	2,626,013		$	58.61	3.0	$	22
Granted	200,393		39.35		—	—
Exercised	(403,074	)	23.29		—	—
Forfeited or Expired	(1,536,968	)	60.61		—	—
Outstanding at December 31, 2016	886,364		66.24		3.5	2
Exercisable at December 31, 2016	388,086		60.95		2.9	—

A summary of non-vested options as of December 31, 2016, and changes during the year, is presented below.



	Non-vested Shares		Weighted- Average Exercise Price		Weighted- Average Grant- Date Fair Value
Non-vested as of January 1, 2016	657,857		$	87.84	$	28.49
Granted	200,393		39.35		15.85
Vested	(127,999	)	87.45		29.08
Forfeited	(231,973	)	63.94		19.14
Non-vested as of December 31, 2016	498,278		70.36		24.32

Additional information pertaining to option activity under the plans is as follows:



	Years Ended December 31,
(In millions)	2016		2015		2014
Aggregate intrinsic value of stock options exercised	$	12	$	4	$	24
Cash received from the exercise of stock options	10		5		18
Fair value of options that vested	10		5		5
Tax benefit realized on exercise of stock options	4		1		1

Performance Stock, Performance Stock Units, Restricted Stock and Restricted Stock Units

Performance stock and PSU's granted under the Omnibus Plan will vest based on the achievement of pre-determined performance goals over performance periods determined by the Compensation Committee. Each of the units granted under the Omnibus Plan represent the right to receive one share of the Company's common stock on a specified future date. In the event of an employee's death or disability, a pro rata portion of the employee's performance stock, performance stock units and performance units will vest to the extent performance goals are achieved at the end of the performance period. Restricted stock and RSU's granted under the Omnibus Plan will vest based on a minimum period of service or the occurrence of events (such as a change in control, as defined in the Omnibus Plan) specified by the Compensation Committee.

A summary of the PSU activity under the Omnibus Plan as of December 31, 2016 is presented below.



	Shares		Weighted- Average Fair Value		Aggregate Intrinsic Value (In millions)
Outstanding at January 1, 2016	378,855		$	80.17	$	20
Granted	590,903		37.85		—
Vested	—		—		—
Forfeited or Expired	(376,827	)	65.32		—
Outstanding at December 31, 2016	592,931		46.39		—

A summary of RSU activity under the Omnibus Plan as of December 31, 2016 is presented below.



	Shares		Weighted- Average Fair Value		Aggregate Intrinsic Value (In millions)
Outstanding at January 1, 2016	228,282		$	81.83	$	13
Granted	292,010		38.86		—
Vested	(86,929	)	80.42		—
Forfeited or Expired	(86,379	)	70.71		—
Outstanding at December 31, 2016	346,984		48.46		—

Additional information pertaining to RSU activity is as follows:



	Years Ended December 31,
	2016		2015		2014
Total fair value of awards that vested (In millions)	$	7	$	5	$	9
Weighted average grant date fair value of awards	38.86		80.77		111.69

Compensation expense for PSUs and RSUs is based on the grant date fair value, and is recognized ratably over the vesting period. For grants in 2016, 2015 and 2014, the vesting period is three years. In addition to the service vesting condition, the PSUs had an additional vesting condition which called for the number of units that will be awarded being based on achievement of a certain level of Corporate EBITDA or other performance measures over the applicable measurement period.

Employee Stock Purchase Plan

The Company previously operated an Employee Stock Purchase Plan ("ESPP") for certain eligible employees. The plan was suspended in 2014.

Tangible Asset Impairments and Asset Write-downs	12 Months Ended
Tangible Asset Impairments and Asset Write-downs	Dec. 31, 2016
Property, Plant and Equipment [Abstract]
Tangible Asset Impairments and Asset Write-downs	Tangible Asset Impairments and Asset Write-downs During 2016, the Company recorded an impairment of the net assets held for sale related to its Brazil operations. See Note 4, "Acquisitions and Divestitures" for additional information. During 2016, the Company performed an impairment assessment of certain assets used in its U.S. Rental Car segment in connection with a restructuring program resulting in an impairment charge of $25 million based on an estimate of future discounted cash flows through the planned completion date of the program. The impairment is included in direct vehicle and operating expense in the accompanying consolidated statement of operations. During 2015, the Company deemed a building in its U.S. Rental Car segment to be held for sale. The Company performed an impairment assessment and recorded a charge of $5 million. The Company also reassessed the carrying value of a held for sale corporate asset and recorded a charge of $3 million. The corporate asset was sold in April 2015. These charges are included in other (income) expense, net in the accompanying consolidated statement of operations. Also during 2015, the Company performed an impairment assessment of the Dollar Thrifty headquarters campus in Tulsa, Oklahoma, which is part of the U.S. Rental Car segment. Based on the impairment assessment, the Company recorded a charge of $6 million which is included in selling, general and administrative expense in the accompanying consolidated statement of operations. The building was sold in December 2015. Additionally, during 2015, the Company recorded $16 million in charges associated with U.S. Rental Car service equipment and assets deemed to have no future use, of which $9 million is included in direct vehicle and operating expense and $7 million is included in other (income) expense, net in the accompanying consolidated statement of operations. During 2014, the Company recorded $10 million in charges to write-off assets associated with a terminated business relationship in its U.S. Rental Car segment. These charges are included in direct vehicle and operating expense in the accompanying consolidated statement of operations. Also during 2014, the Company deemed its previous corporate headquarters building to be held for sale. The Company performed an impairment assessment and recorded a charge of $13 million which is included in selling, general and administrative expense in the accompanying consolidated statement of operations. The Company also recorded $14 million in charges to write-down service equipment in its U.S. Rental Car segment that was deemed to have no future use which is included in other (income) expense, net in the accompanying consolidated statement of operations.

Lease and Concession Agreements

12 Months Ended

Dec. 31, 2016

Leases [Abstract]

Lease and Concession Agreements

Noncancellable Operating Leases and Concession Agreements

The Company has various concession agreements, which provide for payment of rents and a percentage of revenue with a guaranteed minimum, and real estate leases under which the following amounts were expensed:



	Years ended December 31,
(In millions)	2016			2015			2014
Rents	$	122		$	158		$	153
Concession fees:
Minimum fixed obligations	291			367			416
Additional amounts, based on revenues	421			344			301
Total	834			869			870
Sublease income	(4		)	(5		)	(3		)
Total	$	830		$	864		$	867

As of December 31, 2016, minimum net obligations under existing agreements referred to above approximate the following:



(In millions)	Rents		Concessions
2017	$	138	$	291
2018	146		237
2019	109		178
2020	80		144
2021	64		105
After 2021	292		428
Total	$	829	$	1,383

Many of the Company's concession agreements and real estate leases require the Company to pay or reimburse operating expenses, such as common area charges and real estate taxes, to pay concession fees above guaranteed minimums or additional rent based on a percentage of revenues or sales (as defined in those agreements) arising at the relevant premises, or both. Such obligations are not reflected in the table of minimum future obligations appearing immediately above. The Company operates from various leased premises under operating leases with terms up to 30 years. A number of its operating leases contain renewal options. These renewal options vary, but the majority include clauses for renewal for various term lengths at various rates, both fixed and market.

In addition to the rents mentioned above, the Company has various leases on revenue earning vehicles and office, computer and other equipment under which the following amounts were expensed:



	Years Ended December 31,
(In millions)	2016		2015		2014
Revenue earning vehicles	$	70	$	72	$	80
Office, computer and other equipment	10		16		17
Total	$	80	$	88	$	97

As of December 31, 2016, minimum obligations under existing agreements for revenue earning vehicles and office, computer and other equipment approximate the following:



(In millions)
2017	$	20
2018	11
2019	4
2020	4
2021	4
After 2021	—
Total	$	43

Commitments under capital leases within the Company's vehicle rental programs are included in Note 7, "Debt."

Restructuring

12 Months Ended

Dec. 31, 2016

Restructuring and Related Activities [Abstract]

Restructuring

During 2016, the Company evaluated its workforce, product offerings and operations and initiated approximately $63 million of restructuring programs that include headcount reductions, business process re-engineering, asset impairments and outsourcing certain information technology application and infrastructure functions to a third party service provider. These programs are typically completed within twelve months.

During 2015, the Company completed restructuring programs primarily related to closure of off airport locations.

During 2014, the Company completed restructuring programs primarily in connection with the relocation of its corporate headquarters.

Restructuring charges under these programs were as follows:



	Years Ended December 31,
(In millions)	2016		2015			2014
By Type:
Termination benefits	$	24	$	13		$	28
Impairments and asset write-downs	30		2			23
Facility closure and lease obligation costs	7		18			12
Other	1		(4		)	10
Total	$	62	$	29		$	73



	Years Ended December 31,
(In millions)	2016		2015		2014
By Caption:
Direct vehicle and operating	$	36	$	18	$	30
Selling, general and administrative	26		11		43
Total	$	62	$	29	$	73



	Years Ended December 31,
(In millions)	2016		2015		2014
By Segment:
U.S. Rental Car	$	49	$	23	$	27
International Rental Car	9		6		19
Corporate	4		—		27
Total	$	62	$	29	$	73

The following table sets forth the activity affecting the restructuring accrual during the years ended December 31, 2016 and 2015. The Company expects to pay the remaining restructuring obligations relating to termination benefits over the next twelve months. Other is primarily comprised of future lease obligations which will be paid over the remaining term of the applicable leases.



(In millions)	Termination Benefits			Other			Total
Balance as of December 31, 2014	$	20		$	19		$	39
Charges incurred	13			16			29
Cash payments	(23		)	(14		)	(37		)
Other non-cash changes^(a)	(1		)	(6		)	(7		)
Balance as of December 31, 2015	$	9		$	15		$	24
Charges incurred	24			38			62
Cash payments	(19		)	(9		)	(28		)
Other non-cash changes^(b)	(1		)	(30		)	(31		)
Balance as of December 31, 2016	$	13		$	14		$	27


(a)	Decrease in 2015 primarily consists of $4 million related to the write-down of assets deemed to have no future use in the Company's U.S. Rental Car segment.


(b)	Decrease in 2016 primarily consists of $25 million related to the impairment of certain assets used in the U.S. Rental Car segment in conjunction with a restructuring program.

Income Tax (Provision) Benefit

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Income Tax (Provision) Benefit

The components of income (loss) before income taxes for the periods were as follows (in millions):

Hertz Global



	Years Ended December 31,
	2016			2015			2014
Domestic	$	(535	)	$	(84	)	$	(323	)
Foreign	65			216			92
Total income (loss) from continuing operations before income taxes	$	(470	)	$	132		$	(231	)

Hertz



	Years Ended December 31,
	2016			2015			2014
Domestic	$	(534	)	$	(84	)	$	(323	)
Foreign	65			216			92
Total income (loss) from continuing operations before income taxes	$	(469	)	$	132		$	(231	)

The total income tax provision (benefit) consists of the following (in millions):

Hertz Global and Hertz



	Years Ended December 31,
	2016			2015			2014
Current:
Federal	$	22		$	(49	)	$	(34	)
Foreign	48			57			32
State and local	12			(2		)	8
Total current	82			6			6
Deferred:
Federal	(131		)	34			(43		)
Foreign	1			(23		)	10
State and local	52			—			10
Total deferred	(78		)	11			(23		)
Total provision (benefit)	$	4		$	17		$	(17	)

The principal items of the U.S. and foreign net deferred tax assets and liabilities are as follows (in millions):

Hertz Global and Hertz



	Years Ended December 31,
	2016			2015
Deferred Tax Assets:
Employee benefit plans	$	64		$	78
Net operating loss carry forwards	1,669			1,651
Federal, state and foreign local tax credit carry forwards	59			42
Accrued and prepaid expenses	251			241
Total Deferred Tax Assets	2,043			2,012
Less: Valuation Allowance	(230		)	(148		)
Total Net Deferred Tax Assets	1,813			1,864
Deferred Tax Liabilities:
Depreciation on tangible assets	(2,673		)	(2,663		)
Intangible assets	(1,232		)	(1,303		)
Total Deferred Tax Liabilities	(3,905		)	(3,966		)
Net Deferred Tax Liability	$	(2,092	)	$	(2,102	)

The above amounts as of December 31, 2016 exclude deferred taxes of the Company’s Brazil Operations which are deemed held for sale as further described in Note 4, "Acquisitions and Divestitures".

Hertz Global and Hertz

As of December 31, 2016, deferred tax assets of $1,324 million were recorded for unutilized U.S. Federal Net Operating Losses (“NOL") carry forwards of $3,782 million. The total Federal NOL carry forwards are $3,914 million of which $132 million relate to excess tax deductions associated with stock compensation plans, which have yet to reduce taxes payable. Upon adoption in January 2017 of recently issued accounting pronouncement Accounting Standards Update 2016-09, "Improvements to Employee Share-Based Payment Accounting", (as described in Note 2, "Significant Accounting Policies"), the Company will recognize as of the adoption date deferred tax assets of $46 million for excess tax benefits that were not previously recognized as the related tax deduction had not reduced taxes payable, and the Company will record a cumulative-effect adjustment to accumulated deficit in the accompanying consolidated balance sheets. The Federal NOLs begin to expire in 2029. State NOLs, exclusive of the effects of the excess tax deductions, have generated a deferred tax asset of $190 million. As of December 31, 2016, a valuation allowance of $56 million was recorded against these deferred tax assets because they relate to separate states that have historical losses where it is more likely than not that the NOL carry forwards may not be utilized in the future. The state NOLs expire over various years beginning in 2017 depending upon when they were generated and the particular jurisdiction.

As of December 31, 2015, deferred tax assets of $1,347 million were recorded for unutilized U.S. Federal Net Operating Losses (“NOL") carry forwards of $3,850 million. The total Federal NOL carry forwards are $3,981 million of which $132 million relate to excess tax deductions associated with stock compensation plans, which have yet to reduce taxes payable. The Federal NOLs begin to expire in 2029. State NOLs, exclusive of the effects of the excess tax deductions, have generated a deferred tax asset of $173 million. As of December 31, 2015, a valuation allowance of $22 million was recorded against these deferred tax assets because they relate to separate states that have historical losses where it is more likely than not that the NOL carry forwards may not be utilized in the future. The state NOLs expire over various years beginning in 2016 depending upon when they were generated and the particular jurisdiction.

As of December 31, 2016, deferred tax assets of $155 million were recorded for foreign NOL carry forwards of $736 million. A valuation allowance of $108 million at December 31, 2016 was recorded against these deferred tax assets because those assets relate to jurisdictions that have historical losses and it is more likely than not that a portion of the NOL carry forwards may not be utilized in the future. Additionally, a valuation allowance of $47 million was recorded against other deferred tax assets in these jurisdictions.

As of December 31, 2015, deferred tax assets of $131 million were recorded for foreign NOL carry forwards of $536 million. A valuation allowance of $78 million at December 31, 2015 was recorded against these deferred tax assets because those assets relate to jurisdictions that have historical losses and it is more likely than not that a portion of the NOL carry forwards may not be utilized in the future. Additionally, a valuation allowance of $48 million was recorded against other deferred tax assets in these jurisdictions.

As of December 31, 2016 a valuation allowance of $2 million was recorded on U.S. Federal Net Capital Losses. There was no valuation allowance recorded on U.S. Federal Net Capital Losses as of December 31, 2015.

As of December 31, 2016, foreign NOL carry forwards of $736 million include $679 million which have an indefinite carry forward period and associated deferred tax assets of $139 million. The remaining foreign NOLs of $57 million are subject to expiration beginning in 2024 and have associated deferred tax assets of $16 million.

As of December 31, 2015, foreign NOL carry forwards of $536 million include $479 million which have an indefinite carry forward period and associated deferred tax assets of $115 million. The remaining foreign NOLs of $57 million are subject to expiration beginning in 2016 and have associated deferred tax assets of $16 million.

In determining valuation allowances, an assessment of positive and negative evidence was performed regarding realization of the net deferred tax assets in accordance with ASC 740-10, “Accounting for Income Taxes”. This assessment included the evaluation of cumulative earnings and losses in recent years, scheduled reversals of net deferred tax liabilities, the availability of carry forwards and the remaining period of the respective carry forward, future taxable income and any applicable tax-planning strategies that are available.

Based on the assessment as of December 31, 2016, total valuation allowances of $230 million were recorded against deferred tax assets. Although realization is not assured, Hertz Global has concluded that it is more likely than not the remaining deferred tax assets of $1,813 million will be realized and as such, no valuation allowance has been provided on these assets.

At December 31, 2015, Hertz Global released valuation allowances on losses in Spain and Italy in the amounts $28 million and $5 million, respectively. This was based on an evaluation of cumulative earnings and positive projections of income that are available to utilize such losses. Based on the assessment, as of December 31, 2015, total valuation allowances of $148 million were recorded against deferred tax assets. Although realization is not assured, Hertz Global has concluded that it is more likely than not the remaining deferred tax assets of $1,864 million will be realized and as such no valuation allowance has been provided on these assets.

As of December 31, 2016, deferred tax assets of $54 million were recorded for U.S. federal alternative minimum tax ("AMT") credits and various state tax credits. Based on the assessment, as of December 31, 2016, total valuation allowances of $10 million were recorded against deferred tax assets relating to these credits. The state tax credits expire over various years beginning in 2018 depending upon when they were generated and the particular jurisdiction. The carryover period for the AMT credits is indefinite.

As of December 31, 2015, deferred tax assets of $40 million were recorded for U.S. federal alternative minimum tax ("AMT") credits and various state tax credits. The state tax credits expire over various years beginning in 2018 depending upon when they were generated and the particular jurisdiction. The carryover period for the AMT credits is indefinite.

The significant items in the reconciliation of the statutory and effective income tax rates consisted of the following:



	Years Ended December 31,
	2016		2015		2014
Statutory Federal Tax Rate	35	%	35	%	35	%
Foreign tax rate differential	2		(20	)	2
State and local income taxes, net of federal income tax benefit	3		(5	)	2
Change in state statutory rates, net of federal income tax benefit	(7	)	5		(1	)
Federal and foreign permanent differences	(1	)	5		(1	)
Withholding taxes	(2	)	5		(4	)
Uncertain tax positions	—		(5	)	(4	)
Change in valuation allowance	(11	)	(35	)	(9	)
Benefit from sale of non-U.S. operations	—		17		—
Change in foreign statutory rates	(3	)	1		(3	)
Goodwill impairment	(12	)	—		—
Sale of CAR Inc. common stock	—		14		—
Stock option shortfalls	(3	)	—		—
All other items, net	(2	)	(4	)	(10	)
Effective Tax Rate	(1	)%	13	%	7	%

The effective tax rate for the year ended December 31, 2016 was (1)% as compared to 13% for the year ended December 31, 2015, with an income tax provision of $4 million and $17 million, respectively. The $13 million decrease in the tax provision is due to a decrease in pretax operating results, the composition of operating results by jurisdiction, an increase in the valuation allowance relating to losses in certain U.S. and non-U.S. jurisdictions, as well as changes in statutory effective tax rates. The year ended December 31, 2016 also includes a non-deductible impairment of goodwill on Europe vehicle rental operations.

The effective tax rate for the year ended December 31, 2015 was 13% as compared to 7% in the year ended December 31, 2014. The provision for taxes on income increased $34 million, primarily due to an increase in pretax operating results, the composition of operating results by jurisdiction, a decrease in the valuation allowance relating to losses in certain non-U.S. jurisdictions, U.S. income inclusion on the sale of CAR Inc. common stock, and a decrease in unrecognized tax benefits accrued during the year. The year ended December 31, 2015 also includes an income tax benefit of net realized losses on sale of operations in France resulting from the excess book gain over tax gain recognized.

As of December 31, 2016 and 2015, the Company's foreign subsidiaries have $841 million and $595 million, respectively of undistributed earnings which could be subject to taxation if repatriated. Due to the Company's legal structure, the foreign earnings subject to taxation upon distribution could be less. Deferred tax liabilities, to the extent they exist, have not been recorded for such earnings because it is management’s current intention to permanently reinvest such undistributed earnings offshore. Due to the uncertainty caused by the various methods in which such earnings could be repatriated, and because of the potential availability of U.S. foreign tax credits (“FTCs”) it is not practicable to determine the U.S. federal income tax liability that would be payable if such earnings were not reinvested indefinitely. However, if such earnings were repatriated and subject to taxation at the maximum current U.S. federal tax rate, the tax liability would be approximately $304 million, which includes the net impact of foreign withholding taxes, but excludes the impact of potential FTCs and other possible alternatives that could reduce the tax liability. The Company would consider and pursue appropriate alternatives to reduce the tax liability if, in the future, undistributed earnings are repatriated to the United States, or it is determined such earnings will be repatriated in the foreseeable future.

As a result of the divestment of a substantial portion of the Company's interest in CAR Inc. and the spin-off transaction, excess cash generated was used to repatriate previously taxed income to the U.S. There was no material tax cost associated with the cash repatriation. The Company is permanently reinvested on the remaining undistributed earnings offshore.

As of December 31, 2016, total unrecognized tax benefits were $45 million, of which $9 million, if settled, would negatively impact the effective tax rate in future periods because of correlative adjustments associated with these liabilities. A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



(In millions)	2016			2015			2014
Balance at January 1	$	81		$	57		$	11
Increase (Decrease) attributable to tax positions taken during prior periods	(35		)	16			4
Increase (Decrease) attributable to tax positions taken during the current year	—			9			42
Decrease attributable to settlements with taxing authorities	(1		)	(1		)	—
Balance at December 31	$	45		$	81		$	57

The Company conducts business globally and, as a result, files one or more income tax returns in the U.S. and non-U.S. jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world. The open tax years for these jurisdictions span from 2003 to 2015. The Internal Revenue Service completed their audit of the Company's 2007 to 2009 and surveyed 2010 and 2011 tax returns and had no changes to the previously filed tax returns. Currently, the Company's 2014 tax year is under audit by the Internal Revenue Service. Several U.S. state and other non-U.S. jurisdictions are under audit. With regard to these audits, it is reasonably possible that the amount of unrecognized tax benefits may change as the result of the completion of ongoing examinations, the expiration of the statute of limitations or other unforeseen circumstances. At this time, an estimate of the range of the reasonably possible change cannot be made. It is reasonable that approximately $2 million of unrecognized tax benefits may reverse within the next twelve months due to settlement with the relevant non-U.S. taxing authorities.

Net, after-tax interest and penalties related to the liabilities for unrecognized tax benefits are classified as a component of “Income tax (provision) benefit” in the consolidated statement of operations. During the years ended December 31, 2016, 2015 and 2014, approximately $1 million, $4 million and $1 million, respectively, in net, after-tax interest and penalties were recognized. As of December 31, 2016 and 2015, approximately $8 million and $6 million, respectively, of net, after-tax interest and penalties were accrued in the Company's consolidated balance sheet within "Accrued taxes."

Financial Instruments

12 Months Ended

Dec. 31, 2016

Financial Instruments

Financial Instruments

The Company employs established risk management policies and procedures, which seek to reduce the Company’s commercial risk exposure to fluctuations in commodity prices, interest rates and currency exchange rates. However, there can be no assurance that these policies and procedures will be successful. Although the instruments utilized involve varying degrees of credit, market and interest risk, the counterparties to the agreements are expected to perform fully under the terms of the agreements. The Company monitors counterparty credit risk, including lenders, on a regular basis, but cannot be certain that all risks will be discerned or that its risk management policies and procedures will always be effective. Additionally, in the event of default under the Company’s master derivative agreements, the non-defaulting party generally has the option to set-off any amounts owed with regard to open derivative positions.

The Company has the following risk exposures that it has historically used financial instruments to manage. None of the instruments have been designated in a hedging relationship as of December 31, 2016 and 2015.

Interest Rate Risk

The Company’s objective in managing exposure to interest rate changes is to minimize the impact of interest rate changes on operating results and cash flows and to lower overall borrowing costs. To achieve these objectives, the Company uses interest rate caps and other instruments to manage the mix of floating and fixed-rate debt.

Currency Exchange Rate Risk

The Company’s objective in managing exposure to currency fluctuations is to limit the exposure of certain cash flows and operating results from changes associated with currency exchange rate changes through the use of various derivative contracts. The Company experiences currency risks in its global operations as a result of various factors including intercompany local currency denominated loans, rental operations in various currencies and purchasing vehicles in various currencies.

The following table summarizes the estimated fair value of financial instruments:



	Fair Value of Financial Instruments
	Asset Derivatives⁽¹⁾				Liability Derivatives⁽¹⁾
	Years Ended December 31,				Years Ended December 31,
(In millions)	2016		2015		2016		2015
Interest rate instruments	$	1	$	9	$	2	$	9
Foreign currency forward contracts	2		3		4		1
Total	$	3	$	12	$	6	$	10


(1)	All asset derivatives are recorded in "Prepaid expenses and other assets" and all liability derivatives are recorded in accrued liabilities in the accompanying consolidated balance sheets.

While the Company's foreign currency forward contracts and certain interest rate instruments are subject to enforceable master netting agreements with their counterparties, the Company does not offset the derivative assets and liabilities in its consolidated balance sheets.

The following table summarizes the gains or (losses) on financial instruments for the period indicated:



	Location of Gain or (Loss) Recognized on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives
		Years Ended December 31,
(In millions)		2016			2015			2014
Interest rate instruments	Selling, general and administrative	$	—		$	—		$	(2	)
Foreign currency forward contracts	Selling, general and administrative	(5		)	(14		)	—
Total		$	(5	)	$	(14	)	$	(2	)

The impact of offsetting derivative instruments is depicted below as of December 31, 2016:



Prepaid Expenses and Other Assets: (In millions)	Gross assets		Gross assets offset in Balance Sheet		Net recognized assets in Balance Sheet		Gross Financial Instruments not offset in Balance Sheet		Net Amount
Interest rate instruments	$	1	$	—	$	1	$	—	$	1
Foreign currency forward contracts	2		—		2		—		2
Total	$	3	$	—	$	3	$	—	$	3



Accrued Liabilities: (In millions)	Gross liabilities		Gross liabilities offset in Balance Sheet		Net recognized liabilities in Balance Sheet		Gross Financial Instruments not offset in Balance Sheet		Net Amount
Interest rate instruments	$	2	$	—	$	2	$	—	$	2
Foreign currency forward contracts	4		—		4		—		4
Total	$	6	$	—	$	6	$	—	$	6

The impact of offsetting derivative instruments is depicted below as of December 31, 2015:



Prepaid Expenses and Other Assets: (In millions)	Gross assets		Gross assets offset in Balance Sheet		Net recognized assets in Balance Sheet		Gross Financial Instruments not offset in Balance Sheet		Net Amount
Interest rate instruments	$	9	$	—	$	9	$	—	$	9
Foreign currency forward contracts	3		—		3		—		3
Total	$	12	$	—	$	12	$	—	$	12



Accrued Liabilities: (In millions)	Gross liabilities		Gross liabilities offset in Balance Sheet		Net recognized liabilities in Balance Sheet		Gross Financial Instruments not offset in Balance Sheet		Net Amount
Interest rate instruments	$	9	$	—	$	9	$	—	$	9
Foreign currency forward contracts	1		—		1		—		1
Total	$	10	$	—	$	10	$	—	$	10

Fair Value Measurements

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Fair Value Measurements

Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants in the principal market or, if none exists, the most advantageous market, for the specific asset or liability at the measurement date (referred to as the "exit price"). Fair value is a market-based measurement that should be determined based upon assumptions that market participants would use in pricing an asset or liability, including consideration of nonperformance risk.

The Company assesses the inputs used to measure fair value using the three-tier hierarchy promulgated under U.S. GAAP. This hierarchy indicates the extent to which inputs used in measuring fair value are observable in the market.

Level 1: Inputs that reflect quoted prices for identical assets or liabilities in active markets that are observable.

Level 2: Inputs other than quoted prices included in Level 1 that are observable either directly or indirectly, including quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or model-derived valuations in which significant inputs are observable or can be derived principally from, or corroborated by, observable market data.

Level 3: Inputs that are unobservable to the extent that observable inputs are not available for the asset or liability at the measurement date and include management's judgment about assumptions market participants would use in pricing the asset or liability.

Under U.S. GAAP, entities are allowed to measure certain financial instruments and other items at fair value. The Company has not elected the fair value measurement option for any of its assets or liabilities that meet the criteria for this option. Irrespective of the fair value option previously described, U.S. GAAP requires certain financial and non-financial assets and liabilities of the Company to be measured on either a recurring basis or on a nonrecurring basis as shown in the sections that follow.

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The fair value of accounts receivable, accounts payable and accrued expenses, to the extent the underlying liability will be settled in cash, approximates the carrying values because of the short-term nature of these instruments. The Company's assessment of goodwill and other intangible assets for impairment includes an assessment using various Level 2 inputs (earnings before interest, taxes, depreciation and amortization ("EBITDA") multiples and discount rate) and Level 3 inputs (forecasted cash flows). See Note 2, "Significant Accounting Policies — Recoverability of Goodwill and Intangible Assets," for more information on the application of the use of fair value methodology.

Cash Equivalents and Investments

The Company’s cash equivalents primarily consist of money market accounts. The Company determines the fair value of cash equivalents using a market approach based on quoted prices in active markets.

Investments in equity and other securities that are measured at fair value on a recurring basis consist of various mutual funds and available for sale securities. The valuation of these securities is based on Level 1 inputs whereby all significant inputs are observable or can be derived from or corroborated by observable market data.

The following table summarizes the ending balances of the Company's cash equivalents and investments.



	December 31, 2016								December 31, 2015
(In millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Money market funds	$	213	$	393	$	—	$	606	$	181	$	49	$	—	$	230
Equity and other securities	9		—		—		9		—		111		—		111
Total	$	222	$	393	$	—	$	615	$	181	$	160	$	—	$	341

CAR Inc.

As further described in Note 4, "Acquisitions and Divestitures," the Company holds an investment in CAR Inc. that was previously accounted for under the equity method and is now accounted for as an available for sale security. As such, the balance of the Company's investment is shown in the table above under equity and other securities (Level 1) as of December 31, 2016.

Financial Instruments

The fair value of the Company's financial instruments as of December 31, 2016 and 2015 are shown in Note 14, "Financial Instruments." The Company's financial instruments are classified as Level 2 assets and liabilities and are priced using quoted market prices for similar assets or liabilities in active markets.

Debt Obligations

The fair value of debt is estimated based on quoted market rates as well as borrowing rates currently available to the Company for loans with similar terms and average maturities (Level 2 inputs).



	As of December 31, 2016				As of December 31, 2015
(In millions)	Nominal Unpaid Principal Balance		Aggregate Fair Value		Nominal Unpaid Principal Balance		Aggregate Fair Value
Non-vehicle Debt	$	3,934	$	3,791	$	5,991	$	6,070
Vehicle Debt	9,685		9,670		9,857		9,854
Total	$	13,619	$	13,461	$	15,848	$	15,924

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis



(In millions)	Fair Value		Level 1		Level 2		Level 3		Total Loss Adjustments Recorded for the Year Ended December 31, 2016
Long-lived assets held and used	$	4	$	—	$	—	$	4	$	25
Long-lived assets held for sale	$	111	$	—	$	111	$	—	$	18
Liabilities held for sale	$	17	$	—	$	17	$	—	$	—

Assets and liabilities measured at fair value on a non-recurring basis at December 31, 2016, consist of the assets and liabilities held for sale associated with the Company's Brazil Operations as further described in Note 4, "Acquisitions and Divestitures" with a fair value noted in the table above as of December 31, 2016 and certain assets used in the Company's U.S. Rental Car segment in connection with a restructuring program as further described in Note 10, "Tangible Asset Impairments and Asset Write-downs" with a fair value noted in the table above as of September 30, 2016.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Accumulated Other Comprehensive Income (Loss)

12 Months Ended

Dec. 31, 2016

Accumulated Other Comprehensive Income [Abstract]

Accumulated Other Comprehensive Income (Loss)

Changes in the accumulated other comprehensive income (loss) balance by component (net of tax) are as follows:



(In millions)	Pension and Other Post-Employment Benefits			Foreign Currency Items			Unrealized Losses on Terminated Net Investment Hedges			Realized/Unrealized Gains on Available for Sale Securities			Accumulated Other Comprehensive Income (Loss)
Balance as of January 1, 2016	$	(102	)	$	(124	)	$	(19	)	$	—		$	(245	)
Other comprehensive income (loss) before reclassification	(23		)	(16		)	—			12			(27		)
Amounts reclassified from accumulated other comprehensive income (loss)	7			—			—			(9		)	(2		)
Distribution of discontinued entities	8			95			—			—			103
Balance as of December 31, 2016	$	(110	)	$	(45	)	$	(19	)	$	3		$	(171	)



(In millions)	Pension and Other Post-Employment Benefits			Foreign Currency Items			Unrealized Losses on Terminated Net Investment Hedges			Accumulated Other Comprehensive Income (Loss)
Balance as of January 1, 2015	$	(101	)	$	5		$	(19	)	$	(115	)
Other comprehensive income (loss) before reclassification	(8		)	(87		)	—			(95		)
Amounts reclassified from accumulated other comprehensive income (loss)	7			(42		)	—			(35		)
Balance as of December 31, 2015	$	(102	)	$	(124	)	$	(19	)	$	(245	)

- Definition

The entire disclosure for comprehensive income, which includes, but is not limited to, 1) the amount of income tax expense or benefit allocated to each component of other comprehensive income, including reclassification adjustments, 2) the reclassification adjustments for each classification of other comprehensive income and 3) the ending accumulated balances for each component of comprehensive income.

+ References

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Reference 9: http://www.xbrl.org/2003/role/presentationRef
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+ Details

Contingencies and Off-Balance Sheet Commitments	12 Months Ended
Contingencies and Off-Balance Sheet Commitments	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Contingencies and Off-Balance Sheet Commitments	Contingencies and Off-Balance Sheet Commitments Legal Proceedings Public Liability and Property Damage The Company is currently a defendant in numerous actions and has received numerous claims on which actions have not yet been commenced for public liability and property damage arising from the operation of motor vehicles rented from the Company. The obligation for public liability and property damage on self-insured U.S. and international vehicles, as stated on the accompanying consolidated balance sheets, represents an estimate for both reported accident claims not yet paid and claims incurred but not yet reported. The related liabilities are recorded on a non-discounted basis. Reserve requirements are based on rental volume and actuarial evaluations of historical accident claim experience and trends, as well as future projections of ultimate losses, expenses, premiums and administrative costs. At December 31, 2016 and 2015, the Company's liability recorded for public liability and property damage matters was $407 million and $394 million, respectively. The Company believes that its analysis is based on the most relevant information available, combined with reasonable assumptions, and that the Company may prudently rely on this information to determine the estimated liability. The liability is subject to significant uncertainties. The adequacy of the liability reserve is regularly monitored based on evolving accident claim history and insurance related state legislation changes. If the Company's estimates change or if actual results differ from these assumptions, the amount of the recorded liability is adjusted to reflect these results. Other Matters From time to time the Company is a party to various legal proceedings. The Company has summarized below, the most significant legal proceedings to which the Company was and/or is a party to during 2016 or the period after December 31, 2016 but before the filing of this 2016 Annual Report. Concession Fee Recoveries - In October 2006, Janet Sobel, Daniel Dugan, PhD. and Lydia Lee, individually and on behalf of all others similarly situated v. The Hertz Corporation and Enterprise Rent-A-Car Company (“Enterprise”) was filed in the U.S. District Court for the District of Nevada (Enterprise became a defendant in a separate action which they have now settled.) The Sobel case is a consumer class action on behalf of all persons who rented vehicles from Hertz at airports in Nevada and were separately charged airport concession recovery fees by Hertz as part of their rental charges during the class period. In October 2014, the court entered final judgment against the Company and directed Hertz to pay the class approximately $42 million in restitution and $11 million in prejudgment interest, and to pay attorney's fees of $3 million with an additional $3 million to be paid to class counsel from the restitution fund. In November 2014, Hertz timely filed an appeal of that final judgment with the U.S. Court of Appeals for the Ninth Circuit and the plaintiffs cross appealed the court's judgment seeking to challenge the lower court's ruling that Hertz did not deceive or mislead the class members. Following briefing and oral argument, on January 5, 2017, the Ninth Circuit issued an opinion reversing the District Court’s holdings on liability and remedy and vacating the judgment. The Ninth Circuit also rejected plaintiffs’ cross-appeal, finding that Hertz’s actions were not deceptive or misleading. On January 19, 2017, plaintiffs asked the entire Ninth Circuit, sitting en banc, to rehear the appeal. That petition was rejected on February 15, 2017. Plaintiffs have an opportunity to petition the United States Supreme Court to review the Ninth Circuit's decision in favor of the Company. The Company continues to believe the outcome of this case will not be material to its financial condition, results of operations or cash flows. In re Hertz Global Holdings, Inc. Securities Litigation - In November 2013, a purported shareholder class action, Pedro Ramirez, Jr. v. Hertz Global Holdings, Inc., et al., was commenced in the U.S. District Court for the District of New Jersey naming Old Hertz Holdings and certain of its officers as defendants and alleging violations of the federal securities laws. The complaint alleged that Old Hertz Holdings made material misrepresentations and/or omissions of material fact in its public disclosures during the period from February 25, 2013 through November 4, 2013, in violation of Section 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder. The complaint sought an unspecified amount of monetary damages on behalf of the purported class and an award of costs and expenses, including counsel fees and expert fees. In June 2014, Old Hertz Holdings responded to the amended complaint by filing a motion to dismiss. After a hearing in October 2014, the court granted Old Hertz Holdings’ motion to dismiss the complaint. The dismissal was without prejudice and plaintiff was granted leave to file a second amended complaint within 30 days of the order. In November 2014, plaintiff filed a second amended complaint which shortened the putative class period such that it was not alleged to have commenced until May 18, 2013 and made allegations that were not substantively very different than the allegations in the prior complaint. In early 2015, this case was assigned to a new federal judge in the District of New Jersey, and Old Hertz Holdings responded to the second amended complaint by filing another motion to dismiss. On July 22, 2015, the court granted Old Hertz Holdings’ motion to dismiss without prejudice and ordered that plaintiff could file a third amended complaint on or before August 22, 2015. On August 21, 2015, plaintiff filed a third amended complaint. The third amended complaint included additional allegations, named additional current and former officers as defendants and expanded the putative class period such that it was alleged to span from February 14, 2013 to July 16, 2015. On November 4, 2015, Old Hertz Holdings filed its motion to dismiss. Thereafter, a motion was made by plaintiff to add a new plaintiff, because of challenges to the standing of the first plaintiff. The court granted plaintiffs leave to file a fourth amended complaint to add the new plaintiff, and the new complaint was filed on March 1, 2016. Old Hertz Holdings and the individual defendants moved to dismiss the fourth amended complaint in its entirety with prejudice on March 24, 2016, and plaintiff filed its opposition to same on May 6, 2016. On June 13, 2016, Old Hertz Holdings and the individual defendants filed their reply briefs in support of their motions to dismiss. The matter is now fully briefed. New Hertz and Herc Holdings are each responsible for a portion of the matter and Hertz Global will be responsible for managing the settlement or other disposition of the matter. Hertz Global believes that it has valid and meritorious defenses and it intends to vigorously defend against the complaint, but litigation is subject to many uncertainties and the outcome of this matter is not predictable with assurance. It is possible that this matter could be decided unfavorably to Hertz Global. The Company is currently unable to estimate the range of these possible losses, but they could be material to the Company’s consolidated financial condition, results of operations or cash flows in any particular reporting period. Ryanair - In July 2015, Ryanair Ltd. ("Ryanair") filed a complaint against Hertz Europe Limited, a subsidiary of the Company, in the High Court of Justice, Queen’s Bench Division, Commercial Court, Royal Courts of Justice of the United Kingdom alleging breach of contract in connection with Hertz Europe Limited’s termination of its vehicle hire agreement with Ryanair following a contractual dispute with respect to Ryanair’s agreement to begin using third party ticket distributors. The complaint seeks damages, interest and costs, together with attorney fees. The Company believes that it has valid and meritorious defenses and it intends to vigorously defend against these allegations, but litigation is subject to many uncertainties and the outcome of this matter is not predictable with assurance. The Company has established a reserve for this matter which is not material. However, it is possible that this matter could be decided unfavorably to the Company, accordingly, it is possible that an adverse outcome could exceed the amount accrued in an amount that could be material to the Company's consolidated financial condition, results of operations or cash flows in any particular reporting period. The Company intends to assert that it has meritorious defenses in the foregoing matters and the Company intends to defend itself vigorously. Governmental Investigations - In June 2014, the Company was advised by the staff of the New York Regional Office of the Securities and Exchange Commission (“SEC”) that it is investigating the events disclosed in certain of the Company’s filings with the SEC. In addition, in December 2014 a state securities regulator requested information and starting in June 2016 the Company has had communications with the United States Attorney’s Office for the District of New Jersey regarding the same or similar events. The investigations and communications generally involve the restatements included in the Old Hertz Holdings Form 10-K for the year ended December 31, 2014, as filed with the SEC on July 16, 2015 (the “Old Hertz Holdings 2014 10-K”) and related accounting for prior periods. The Company has and intends to continue to cooperate with all requests related to the foregoing. Due to the stage at which the proceedings are, Hertz is currently unable to predict the likely outcome of the proceedings or estimate the range of reasonably possible losses, which may be material. Among other matters, the restatements included in the Old Hertz Holdings 2014 Form 10-K addressed a variety of accounting matters involving the Company’s Brazil vehicle rental operations. Additionally, the Company has identified certain activities in Brazil that raise issues under the Foreign Corrupt Practices Act and may raise issues under other federal and local laws, which the Company has self-reported to appropriate government entities and the processes with these government entities continue. The Company is continuing to investigate these issues. The Company has established a reserve relating to the activities in Brazil which is not material. However, it is possible that an adverse outcome with respect to the activities in Brazil and the other issues discussed herein could exceed the amount accrued in an amount that could be material to the Company's consolidated financial condition, results of operations or cash flows in any particular reporting period. French Antitrust - In February 2015, the French Competition Authority issued a Statement of Objections claiming that several vehicle rental companies, including the Company and certain of its subsidiaries, violated French competition law by receiving historic market information from twelve French airports relating to the vehicle rental companies operating at those airports and by engaging in a concerted practice relating to train station surcharges. In February 2017, the French Competition Authority issued a decision dismissing all such claims against the Company and its subsidiaries. French Road Tax - The French Tax Authority has challenged the historic practice of several vehicle rental companies, including Hertz France, of registering vehicles in jurisdictions where it is established and where the road tax payable with respect to those vehicles is lower than the road tax payable in the jurisdictions where the vehicles will primarily be used. In respect of a period in 2005, the Company has unsuccessfully appealed the French Tax assessment to the highest Administrative court in France. In respect of a period from 2003 to 2005, following an adverse judgment, the Company appealed the French Tax Authority’s assessment to the Civil Court of Appeal. On March 2, 2017, the Company received an adverse judgment in the road tax appeal from the Civil Court of Appeal. In the third quarter of 2015, following an adverse decision against another industry participant involved in a similar action, the Company recorded charges with respect to this matter of approximately $23 million. In January 2016, the Company made a payment of approximately $9 million. The Company has established reserves for matters where the Company believes that losses are probable and can be reasonably estimated. Other than the aggregate reserve established for claims for public liability and property damage, none of those reserves are material. For matters, including certain of those described above, where the Company has not established a reserve, the ultimate outcome or resolution cannot be predicted at this time, or the amount of ultimate loss, if any, cannot be reasonably estimated. Litigation is subject to many uncertainties and the outcome of the individual litigated matters is not predictable with assurance. It is possible that certain of the actions, claims, inquiries or proceedings, including those discussed above, could be decided unfavorably to the Company or any of its subsidiaries involved. Accordingly, it is possible that an adverse outcome from such a proceeding could exceed the amount accrued in an amount that could be material to the accompanying consolidated financial condition, results of operations or cash flows in any particular reporting period. Indemnification Obligations In the ordinary course of business, the Company executed contracts involving indemnification obligations customary in the relevant industry and indemnifications specific to a transaction such as the sale of a business. These indemnification obligations might include claims relating to the following: environmental matters; intellectual property rights; governmental regulations and employment-related matters; customer, supplier and other commercial contractual relationships; and financial matters. Specifically, the Company has indemnified various parties for the costs associated with remediating numerous hazardous substance storage, recycling or disposal sites in many states and, in some instances, for natural resource damages. The amount of any such expenses or related natural resource damages for which the Company may be held responsible could be substantial. In addition, Hertz entered into customary indemnification agreements with Hertz Holdings and certain of the Company's stockholders and their affiliates pursuant to which Hertz Holdings and Hertz will indemnify those entities and their respective affiliates, directors, officers, partners, members, employees, agents, representatives and controlling persons, against certain liabilities arising out of performance of a consulting agreement with Hertz Holdings and each of such entities and certain other claims and liabilities, including liabilities arising out of financing arrangements or securities offerings. The Company has entered into customary indemnification agreements with each of its directors and certain of its officers. Performance under these indemnification obligations would generally be triggered by a breach of terms of the contract or by a third party claim. As described in Note 3, "Discontinued Operations", the Separation and Distribution Agreement with Herc Holdings contains mutual indemnification clauses and a customary indemnification provision with respect to liability arising out of or resulting from assumed legal matters. The Company regularly evaluates the probability of having to incur costs associated with these indemnification obligations and have accrued for expected losses that are probable and estimable.

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Agreements with the Icahn Group On September 15, 2014, Old Hertz Holdings entered into a definitive Nomination and Standstill Agreement (the “Nomination and Standstill Agreement”) with Mr. Carl C. Icahn, High River Limited Partnership, Hopper Investments LLC, Barberry Corp., Icahn Partners LP, Icahn Partners Master Fund LP, Icahn Enterprises G.P. Inc., Icahn Enterprises Holdings L.P., IPH GP LLC, Icahn Capital LP, Icahn Onshore LP, Icahn Offshore LP, Beckton Corp., Vincent J. Intrieri, Samuel Merksamer and Daniel A. Ninivaggi (collectively, the “Icahn Group”). The Nomination and Standstill Agreement remained with Old Hertz Holdings as part of the Spin-Off. On June 30, 2016, Hertz Global entered into a confidentiality agreement (the “Confidentiality Agreement”) with the Icahn Group. Pursuant to the Confidentiality Agreement, Vincent J. Intrieri, Samuel Merksamer and Daniel A. Ninivaggi, each of whom was appointed as a director of Hertz Global, are designees of the Icahn Group on the Hertz Global board of directors. Until the date that the Icahn Group no longer has a designee on the Hertz Global board of directors, the Icahn Group agrees to vote all of its shares of common stock of Hertz Global in favor of the election of all of Hertz Global’s director nominees at each annual or special meeting of Hertz Global. In addition, Hertz Global, High River Limited Partnership, Icahn Partners LP and Icahn Partners Master Fund LP entered into a registration rights agreement, dated June 30, 2016 (the “Registration Rights Agreement”). Pursuant to the Registration Rights Agreement, among other things, and subject to certain exceptions, Hertz Global agreed to effect up to two demand registrations with respect to shares of Hertz Global common stock held by members of the Icahn Group. Hertz Global also agreed to provide, with certain exceptions, certain piggyback registration rights with respect to common stock held by members of the Icahn Group. In the normal course of business, the Company purchases goods and services from entities controlled by Carl C. Icahn and his affiliates, including The Pep Boys - Manny, Moe & Jack. During the year ended December 31, 2016, the Company purchased approximately $6 million worth of goods and services from these related parties. Transactions between Hertz Holdings/Old Hertz Holdings and Hertz Hertz and Old Hertz Holdings entered into a master loan agreement in 2014. In October 2015, the board of directors of Hertz approved, and Hertz paid, a non-cash dividend to Hertz Investors, Inc. consisting of the full rights to a receivable due from Old Hertz Holdings under the Master Loan in the amount of $365 million plus accrued interest. Hertz Investors, Inc. declared and paid the same dividend to Old Hertz Holdings; thereby settling the amount receivable from Old Hertz Holdings at the time. In November 2015, Hertz signed a new master loan agreement with Old Hertz Holdings for a facility size of $650 million with an expiration in November 2016 (the "New Master Loan"). The amount due from Old Hertz Holdings under the New Master Loan as of December 31, 2015 was $345 million, representing advances under the New Master Loan and any accrued but unpaid interest. Prior to the Spin-Off on June 30, 2016, the board of directors of the Company approved, and Hertz paid, a non-cash dividend to Hertz Investors, Inc. consisting of the full rights to the receivable due from Old Hertz Holdings under the New Master Loan in the amount of $334 million plus accrued interest. Hertz Investors, Inc. declared and paid the same dividend to Old Hertz Holdings; thereby settling the amount receivable from Old Hertz Holdings. On June 30, 2016, Hertz signed a master loan agreement with Hertz Global for a facility size of $425 million with an expiration in June 2017 (the "Master Loan"). The interest rate is based on the U.S. Dollar LIBOR rate plus a margin. As of December 31, 2016, there was $102 million outstanding under the Master Loan, representing advances under the New Master Loan and any accrued but unpaid interest. At December 31, 2016 Hertz has a due to affiliate in the amount of $65 million which represents its tax related liability to Hertz Holdings. The above amounts are included in equity in the accompanying consolidated balance sheets of Hertz. Other Relationships In connection with its vehicle rental businesses, the Company enters into millions of rental transactions every year involving millions of customers. In order to conduct those businesses, the Company also procures goods and services from thousands of vendors. Some of those customers and vendors may be affiliated with members of the Company's Board. The Company believes that all such rental and procurement transactions involved terms no less favorable to the Company than those that it believes would have been obtained in the absence of such affiliation. It is Company management’s policy to bring to the attention of its Board any transaction with a related party, even if the transaction arises in the ordinary course of business. In June 2016, the Company announced that it had reached an agreement with Lyft, Inc. (“Lyft”) to offer vehicles under specified rental agreements to U.S. drivers on the Lyft platform, expanding upon two pilot markets where the Company and Lyft have partnered together since September 2015. Affiliates of Mr. Icahn own a non-controlling minority interest in Lyft, and one of Mr. Icahn’s representatives serves on Lyft’s board of directors.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

Equity and Earnings (Loss) Per Share - Hertz Global

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Equity and Earnings (Loss) Per Share - Hertz Global

Equity of Old Hertz Holdings

Prior to the Spin-Off, equity of Hertz Global is presented as that of Old Hertz Holdings. At December 31, 2015, there were 200 million shares of Old Hertz Holdings preferred stock authorized, par value $0.01 per share, two billion shares of Old Hertz Holdings common stock authorized, par value $0.01 per share and 41 million shares of Old Hertz Holdings treasury stock resulting from previous repurchases.

Equity of Hertz Global Holdings, Inc.

The articles of incorporation for Hertz Holdings authorized equity issuances are commensurate with those of Old Hertz Holdings, as adjusted for the one-to-five distribution ratio in the Spin-Off. As of December 31, 2016, there are 40 million shares of Hertz Holdings preferred stock authorized, par value $0.01 per share, 400 million shares of Hertz Holdings common stock authorized, par value $0.01 per share, and two million shares of treasury stock.

Share Repurchase Program

In connection with the Spin-Off on June 30, 2016, Hertz Holdings' board of directors approved a share repurchase program that authorizes Hertz Holdings to purchase up to approximately $395 million worth of shares of its common stock (the “2016 share repurchase program”), which represents the amount remaining under the Old Hertz Holdings share repurchase programs as of the Spin-Off. The 2016 share repurchase program permits Hertz Holdings 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 Hertz Holdings to make any repurchases at any specific time or situation. As of December 31, 2016, Hertz Holdings has repurchased two million shares for $100 million under this program. This amount is included in treasury stock in the accompanying Hertz Global consolidated balance sheet as of December 31, 2016. The timing and extent to which Hertz Holdings 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. Since Hertz Holdings does not conduct business itself, it primarily funds repurchases of its common stock using dividends from Hertz or amounts borrowed under the master loan agreement. In February 2017, as further described in Note 7, "Debt," Hertz amended its credit agreement governing its Senior Facilities which restricts its ability to make dividends and certain restricted payments, including payments to Hertz Holdings for share repurchases.

Earnings (Loss) Per Share

Basic earnings (loss) per share has been computed based upon the weighted average number of common shares outstanding. Diluted earnings (loss) per share has been computed based upon the weighted average number of common shares outstanding plus the effect of all potentially dilutive common stock equivalents, except when the effect would be anti-dilutive.

As described in Note 1, "Background", on June 30, 2016, the distribution date, Old Hertz Holdings stockholders of record as of the close of business on June 22, 2016 received one share of Hertz Holdings common stock for every five shares of Old Hertz Holdings common stock held as of the record date. Basic and diluted net income (loss) per share for the years ended December 31, 2015 and 2014 is calculated using the weighted average number of basic, dilutive and anti-dilutive common shares outstanding during the periods, as adjusted for the one-to-five distribution ratio.

The following table sets forth the computation of basic and diluted earnings (loss) per share:



	Years Ended December 31,
(In millions, except per share data)	2016			2015		2014
Basic and diluted earnings per share:
Numerator:
Net income (loss) from continuing operations	$	(474	)	$	115	$	(214	)
Net income (loss) from discontinued operations	(17		)	158		132
Net income (loss), basic	$	(491	)	$	273	$	(82	)
Denominator:
Basic weighted average common shares	84			90		91
Dilutive stock options, RSUs and PSUs	—			1		—
Weighted average shares used to calculate diluted earnings per share	84			91		91
Antidilutive stock options, RSUs, PSUs and conversion shares	1			1		2
Earnings (loss) per share:
Basic earnings (loss) per share from continuing operations	$	(5.65	)	$	1.28	$	(2.35	)
Basic earnings (loss) per share from discontinued operations	(0.20		)	1.75		1.45
Basic earnings (loss) per share	$	(5.85	)	$	3.03	$	(0.90	)

Diluted earnings (loss) per share from continuing operations	$	(5.65	)	$	1.26	$	(2.35	)
Diluted earnings (loss) per share from discontinued operations	(0.20		)	1.74		1.45
Diluted earnings (loss) per share	$	(5.85	)	$	3.00	$	(0.90	)

Segment Information

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Segment Information

The Company has identified three reportable segments, which are organized based on the products and services provided by its operating segments and the geographic areas in which its operating segments conduct business, as follows:


•	U.S. Rental Car ("U.S. RAC") - rental of vehicles (cars, crossovers and light trucks), as well as ancillary products and services, in the United States and consists of the Company's United States operating segment;

•

International Rental Car ("International RAC") - rental and leasing of vehicles (cars, vans, crossovers and light trucks), as well as ancillary products and services, internationally and consists of the Company's Europe and Other International operating segments, which are aggregated into a reportable segment based primarily upon similar economic characteristics, products and services, customers, delivery methods and general regulatory environments;


•	All Other Operations - primarily consists of the Company's Donlen business, which provides vehicle leasing and fleet management services, together with other business activities which represent less than 2% of revenues and expenses of the segment.

In addition to the above reportable segments, the Company has corporate operations ("Corporate") which includes general corporate assets and expenses and certain interest expense (including net interest on non-vehicle debt).

The following tables provide significant statement of operations, balance sheet and cash flow information by segment for each of Hertz Global and Hertz, as well as adjusted pre-tax incomes (loss), the segment measure of profitability.



	Years Ended December 31,
(In millions)	2016			2015			2014
Revenues
U.S. Rental Car	$	6,114		$	6,286		$	6,471
International Rental Car	2,097			2,148			2,436
All other operations	592			583			568
Total Hertz Global and Hertz	$	8,803		$	9,017		$	9,475
Adjusted pre-tax income^(a)
U.S. Rental Car	$	298		$	551		$	387
International Rental Car	194			215			144
All other operations	72			68			62
Corporate	(499		)	(509		)	(500		)
Total Hertz Global	65			325			93
Corporate - Hertz	1			—			—
Total Hertz	$	66		$	325		$	93
Depreciation of revenue earning vehicles and lease charges, net
U.S. Rental Car	$	1,753		$	1,572		$	1,758
International Rental Car	389			398			492
All other operations	459			463			455
Total Hertz Global and Hertz	$	2,601		$	2,433		$	2,705
Depreciation and amortization, non-vehicle assets
U.S. Rental Car	$	198		$	209		$	222
International Rental Car	33			37			41
All other operations	11			10			11
Corporate	23			18			17
Total Hertz Global and Hertz	$	265		$	274		$	291
Interest expense, net
U.S. Rental Car	$	154		$	165		$	172
International Rental Car	66			70			95
All other operations	14			10			12
Corporate	390			354			338
Total Hertz Global	624			599			617
Corporate - Hertz	(1		)	—			—
Total - Hertz	$	623		$	599		$	617



	As of December 31,
(In millions)	2016		2015
Revenue earning vehicles, net, at end of year
U.S. Rental Car	$	7,716	$	7,600
International Rental Car	1,755		1,858
All other operations	1,347		1,288
Total Hertz Global and Hertz	$	10,818	$	10,746
Property and equipment, net, at end of year
U.S. Rental Car	$	621	$	718
International Rental Car	110		135
All other operations	13		5
Corporate	114		119
Total Hertz Global and Hertz	$	858	$	977
Total assets at end of year - Hertz Global
U.S. Rental Car	$	12,876	$	13,614
International Rental Car	3,578		3,002
All other operations	1,612		1,520
Corporate	1,089		1,983
Assets of discontinued operations	—		3,395
Total Hertz Global	$	19,155	$	23,514
Total assets at end of year - Hertz
U.S. Rental Car	$	12,876	$	13,614
International Rental Car	3,578		3,002
All other operations	1,612		1,520
Corporate	1,089		1,983
Assets of discontinued operations	—		3,390
Total Hertz	$	19,155	$	23,509



	Years Ended December 31,
(In millions)	2016			2015			2014
Revenue earning vehicles and capital assets, non-vehicle
U.S. Rental Car:
Expenditures	$	(7,376	)	$	(7,930	)	$	(6,175	)
Proceeds from disposals	6,010			6,280			4,530
Net expenditures - Hertz Global and Hertz	$	(1,366	)	$	(1,650	)	$	(1,645	)
International Rental Car:
Expenditures	$	(2,953	)	$	(2,887	)	$	(3,165	)
Proceeds from disposals	2,589			2,412			2,531
Net expenditures - Hertz Global and Hertz	$	(364	)	$	(475	)	$	(634	)
All other operations:
Expenditures	$	(729	)	$	(718	)	$	(751	)
Proceeds from disposals	209			162			150
Net expenditures - Hertz Global and Hertz	$	(520	)	$	(556	)	$	(601	)
Corporate:
Expenditures	$	(33	)	$	(101	)	$	(54	)
Proceeds from disposals	15			49			34
Net expenditures - Hertz Global and Hertz	$	(18	)	$	(52	)	$	(20	)

The Company operates in the United States and in international countries. International operations are substantially in Europe. The operations within major geographic areas for each of Hertz Global and Hertz are summarized below:



	Years Ended December 31,
(In millions)	2016		2015		2014
Revenues
United States	$	6,690	$	6,845	$	7,008
International	2,113		2,172		2,467
Total Hertz Global and Hertz	$	8,803	$	9,017	$	9,475



	As of December 31,
(In millions)	2016		2015
Revenue earning vehicles, net, at end of year
United States	$	9,035	$	8,857
International	1,783		1,889
Total Hertz Global and Hertz	$	10,818	$	10,746
Property and equipment, net, at end of year
United States	$	748	$	842
International	110		135
Total Hertz Global and Hertz	$	858	$	977
Total assets at end of year - Hertz Global
United States	$	15,434	$	16,474
International	3,721		3,645
Discontinued Operations	—		$	3,395
Total Hertz Global	$	19,155	$	23,514
Total assets at end of year - Hertz
United States	$	15,434	$	16,474
International	3,721		3,645
Discontinued Operations	$	—	$	3,390
Total Hertz	$	19,155	$	23,509


(a)	Adjusted pre-tax income (loss) is calculated as income (loss) from continuing operations before income taxes plus non-cash acquisition accounting charges, debt-related charges relating to the amortization and write-off of debt financing costs and debt discounts, goodwill, intangible and tangible asset impairments and write-downs and certain one-time charges and non-operational items.

Adjusted pre-tax income (loss) by segment and the reconciliation to consolidated amounts, which are the same for Hertz Global and Hertz in 2014 and 2015 and differ by $1 million in 2016, are summarized below.

Hertz Global



	Years Ended December 31,
(In millions)	2016			2015			2014
Adjusted pre-tax income (loss):
U.S. Rental Car	$	298		$	551		$	387
International Rental Car	194			215			144
All Other Operations	72			68			62
Total reportable segments	564			834			593
Corporate ⁽¹⁾	(499		)	(509		)	(500		)
Adjusted pre-tax income (loss)	65			325			93
Adjustments:
Acquisition accounting⁽²⁾	(65		)	(87		)	(94		)
Debt-related charges⁽³⁾	(48		)	(58		)	(46		)
Restructuring and restructuring related charges⁽⁴⁾	(53		)	(84		)	(151		)
Loss on extinguishment of debt⁽⁵⁾	(55		)	—			(1		)
Sale of CAR Inc. common stock⁽⁶⁾	84			133			—
Impairment charges and asset write-downs⁽⁷⁾	(340		)	(57		)	(24		)
Finance and information technology transformation costs⁽⁸⁾	(53		)	—			—
Other⁽⁹⁾	(5		)	(40		)	(8		)
Income (loss) before income taxes	$	(470	)	$	132		$	(231	)

Hertz



	Years Ended December 31,
(In millions)	2016			2015			2014
Adjusted pre-tax income (loss):
U.S. Rental Car	$	298		$	551		$	387
International Rental Car	194			215			144
All Other Operations	72			68			62
Total reportable segments	564			834			593
Corporate⁽¹⁾	(498		)	(509		)	(500		)
Adjusted pre-tax income (loss)	66			325			93
Adjustments:
Acquisition accounting⁽²⁾	(65		)	(87		)	(94		)
Debt-related charges⁽³⁾	(48		)	(58		)	(46		)
Restructuring and restructuring related charges⁽⁴⁾	(53		)	(84		)	(151		)
Loss on extinguishment of debt⁽⁵⁾	(55		)	—			(1		)
Sale of CAR Inc. common stock⁽⁶⁾	84			133			—
Impairment charges and asset write-downs⁽⁷⁾	(340		)	(57		)	(24		)
Finance and information technology transformation costs⁽⁸⁾	(53		)	—			—
Other⁽⁹⁾	(5		)	(40		)	(8		)
Income (loss) before income taxes	$	(469	)	$	132		$	(231	)


(1)	Represents general corporate expenses, non-vehicle interest expense, as well as other business activities.


(2)	Represents incremental expense associated with amortization of other intangible assets and depreciation of property and equipment relating to acquisition accounting.


(3)	Represents debt-related charges relating to the amortization of deferred financing costs and debt discounts and premiums.

(4)

Represents expenses incurred under restructuring actions as defined in U.S. GAAP, excluding impairments and asset write-downs which are shown separately in the table. For further information on restructuring costs, see Note 12, "Restructuring." Also represents certain other charges such as incremental costs incurred directly supporting business transformation initiatives. Such costs include transition costs incurred in connection with business process outsourcing arrangements and incremental costs incurred to facilitate business process re-engineering initiatives that involve significant organization redesign and extensive operational process changes. Also includes $8 million, $38 million and $30 million of consulting costs and legal fees related to the previously disclosed accounting review and investigation in 2016, 2015 and 2014, respectively.

(5)

In 2016, amount represents $6 million of deferred financing costs written off as a result of terminating and refinancing various vehicle debt, $27 million in early redemption premiums associated with the redemption of all of the 7.50% Senior Notes due October 2018 and a portion of the 6.75% Senior Notes due April 2019 and $22 million of deferred financing costs and debt discount written off as a result of paying off the above Senior Notes and the Company's Senior Credit Facilities.


(6)	Represents the pre-tax gain on the sale of CAR Inc. common stock.

(7)

In 2016, primarily comprised of a $172 million impairment of goodwill associated with the Company's vehicle rental operations in Europe, a $120 million impairment of the Dollar Thrifty tradename, a $25 million impairment of certain tangible assets used in the U.S. RAC segment in conjunction with a restructuring program and a $18 million impairment of the net assets held for sale related to the Company's Brazil operations. In 2015, primarily comprised of a $40 million impairment of an international tradename associated with the Company's former equipment rental business, a $6 million impairment of the former Dollar Thrifty headquarters, a $5 million impairment of a building in the U.S. RAC Segment and a $3 million impairment of a corporate asset. In 2014, primarily comprised of a $13 million impairment related to the Company's former corporate headquarters building in New Jersey, and a $10 million impairment of assets related to a contract termination.


(8)	Represents external costs associated with the Company's finance and information technology transformation programs, both of which are multi-year initiatives that commenced in 2016 to upgrade and modernize the Company's systems and processes.

(9)

Includes miscellaneous, non-recurring and other non-cash items. For 2016, also includes a $9 million settlement gain from an eminent domain case related to one of the Company's airport locations. For 2015, also includes a $23 million charge recorded in relation to a French road tax matter, $5 million of costs related to the integration of Dollar Thrifty and $5 million in relocation expenses incurred in connection with the relocation of the Company's corporate headquarters to Estero, Florida. In 2014, also includes $10 million in acquisition related costs and charges, $9 million of costs related to the integration of Dollar Thrifty, and $9 million in relocation expenses incurred in connection with the relocation of the Company's corporate headquarters to Estero, Florida, partially offset by a $19 million settlement received in relation to a class action lawsuit filed against an original equipment manufacturer.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8981-108599

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e9038-108599

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8971-108599

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
-Section 50
-Paragraph 12
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8595-108599

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8380-108599

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-URI http://asc.fasb.org/extlink&oid=51669610&loc=d3e8933-108599

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+ Details

Guarantor and Non-Guarantor Annual Condensed Consolidating Financial Information

12 Months Ended

Dec. 31, 2016

Guarantor and Non-Guarantor Condensed Consolidating Financial Statements Disclosure [Abstract]

Guarantor and Non-Guarantor Annual Condensed Consolidating Financial Information

Guarantor and Non-Guarantor Annual Condensed Consolidating Financial Information - Hertz

The following annual condensed consolidating financial information presents the Condensed Consolidating Balance Sheets as of December 31, 2016 and 2015 and the Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) and Statements of Cash Flows for the years ended December 31, 2016, 2015 and 2014, of (a) The Hertz Corporation, ("Parent”); (b) the Parent's subsidiaries that guarantee the Senior Notes issued by the Parent ("Guarantor Subsidiaries"); (c) the Parent's subsidiaries that do not guarantee the Senior Notes issued by the Parent ("Non-Guarantor Subsidiaries"); (d) elimination entries necessary to consolidate the Parent with the Guarantor Subsidiaries and Non-Guarantor Subsidiaries ("Eliminations"); and of (e) Hertz on a consolidated basis.

Investments in subsidiaries are accounted for using the equity method for purposes of the consolidating presentation. The principal elimination entries relate to investments in subsidiaries and intercompany balances and transactions. The Guarantor Subsidiaries are 100% owned by the Parent and all guarantees are full and unconditional and joint and several. Additionally, substantially all of the assets of the Guarantor Subsidiaries are pledged under the Senior Facilities, and consequently will not be available to satisfy the claims of Hertz's general creditors. In lieu of providing separate unaudited financial statements for the Guarantor Subsidiaries, Hertz has included the accompanying condensed consolidating financial statements based on Rule 3-10 of the SEC's Regulation S-X. Management of Hertz does not believe that separate financial statements of the Guarantor Subsidiaries are material to Hertz's investors; therefore, separate financial statements and other disclosures concerning the Guarantor Subsidiaries are not presented.

As described in Note 1, "Background" and Note 3, "Discontinued Operations", Hertz completed the Spin-Off of its equipment rental business on June 30, 2016. In connection with the Spin-Off, certain amounts that were historically recorded on the balance sheet of the Parent were distributed with the discontinued entities. These amounts primarily related to defined benefit pension plans, workers’ compensation liabilities, and income taxes. These amounts have been reclassified in the 2015 condensed consolidating financial statements to reflect the balances transferred in the Guarantor Subsidiaries' and Non-Guarantor Subsidiaries' financial statements based on which discontinued entity received the distribution in the Spin-Off.

During the preparation of the condensed consolidating financial information of The Hertz Corporation and Subsidiaries as of and for the three and six months ended June 30, 2016, it was determined that investments in subsidiaries at December 31, 2015 as filed in the Company's 2015 Form 10-K were improperly classified, resulting in a $453 million understatement of these assets and equity for the Non-Guarantor Subsidiaries, and an understatement of these assets and overstatement of prepaid expenses and other assets for the Guarantor Subsidiaries. The classification errors, which the Company has determined are not material to this disclosure, are eliminated upon consolidation and, therefore, have no impact on the Company's consolidated financial condition, results of operations, or cash flows. The Company has revised the Guarantor, Non-Guarantor, and Eliminations Condensed Consolidating Balance Sheets as of December 31, 2015 to correct for these errors.

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2016

(In millions)



	Parent (The Hertz Corporation)		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			The Hertz Corporation & Subsidiaries
ASSETS
Cash and cash equivalents	$	458	$	12	$	346	$	—		$	816
Restricted cash and cash equivalents	53		5		220		—			278
Receivables, net of allowance	752		167		364		—			1,283
Due from affiliates	3,668		4,738		9,750		(18,156		)	—
Prepaid expenses and other assets	5,736		83		199		(5,440		)	578
Revenue earning vehicles, net	361		7		10,450		—			10,818
Property and equipment, net	656		70		132		—			858
Investment in subsidiaries, net	6,114		598		—		(6,712		)	—
Other intangible assets, net	89		3,223		20		—			3,332
Goodwill	102		943		36		—			1,081
Assets held for sale	—		—		111		—			111
Total assets	$	17,989	$	9,846	$	21,628	$	(30,308	)	$	19,155
LIABILITIES AND EQUITY
Due to affiliates	$	11,748	$	1,900	$	4,508	$	(18,156	)	$	—
Accounts payable	279		90		452		—			821
Accrued liabilities	557		103		320		—			980
Accrued taxes, net	78		18		2,881		(2,812		)	165
Debt	4,086		—		9,455		—			13,541
Public liability and property damage	166		43		198		—			407
Deferred income taxes, net	—		2,980		1,797		(2,628		)	2,149
Liabilities held for sale	—		—		17		—			17
Total liabilities	16,914		5,134		19,628		(23,596		)	18,080
Equity:
Stockholder's equity	1,075		4,712		2,000		(6,712		)	1,075
Total liabilities and equity	$	17,989	$	9,846	$	21,628	$	(30,308	)	$	19,155

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2015

(In millions)



	Parent (The Hertz Corporation)		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			The Hertz Corporation & Subsidiaries
ASSETS
Cash and cash equivalents	$	179	$	17	$	278	$	—		$	474
Restricted cash and cash equivalents	57		3		273		—			333
Receivables, net of allowance	399		183		1,204		—			1,786
Due from affiliates	4,158		3,238		7,543		(14,939		)	—
Prepaid expenses and other assets	4,518		698		461		(4,682		)	995
Revenue earning vehicles, net	388		6		10,352		—			10,746
Property and equipment, net	752		74		151		—			977
Investment in subsidiaries, net	7,457		1,614		—		(9,071		)	—
Other intangible assets, net	142		3,350		30		—			3,522
Goodwill	102		942		217		—			1,261
Assets held for sale	25		—		—		—			25
Assets of discontinued operations	—		2,989		401		—			3,390
Total assets	$	18,177	$	13,114	$	20,910	$	(28,692	)	$	23,509
LIABILITIES AND EQUITY
Due to affiliates	$	8,888	$	1,465	$	3,961	$	(14,314	)	$	—
Accounts payable	262		81		423		—			766
Accrued liabilities	584		114		337		—			1,035
Accrued taxes, net	223		19		2,849		(2,963		)	128
Debt	6,126		—		9,644		—			15,770
Public liability and property damage	146		48		200		—			394
Deferred income taxes, net	—		2,005		1,882		(1,719		)	2,168
Liabilities of discontinued operations	—		1,915		9		(624		)	1,300
Total liabilities	16,229		5,647		19,305		(19,620		)	21,561
Equity:
Stockholder's equity	1,948		7,467		1,605		(9,072		)	1,948
Total liabilities and equity	$	18,177	$	13,114	$	20,910	$	(28,692	)	$	23,509

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Year Ended December 31, 2016

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	4,604		$	1,483		$	6,022		$	(3,306	)	$	8,803
Expenses:
Direct vehicle and operating	2,909			761			1,263			(1		)	4,932
Depreciation of revenue earning vehicles and lease charges, net	2,766			685			2,453			(3,303		)	2,601
Selling, general and administrative	602			51			248			(2		)	899
Interest expense, net	407			(58		)	274			—			623
Goodwill and intangible asset impairments	—			120			172			—			292
Other (income) expense, net	6			(10		)	(71		)	—			(75		)
Total expenses	6,690			1,549			4,339			(3,306		)	9,272
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(2,086		)	(66		)	1,683			—			(469		)
Income tax (provision) benefit	682			(26		)	(660		)	—			(4		)
Equity in earnings (losses) of subsidiaries, net of tax	916			266			—			(1,182		)	—
Net income (loss) from continuing operations	$	(488	)	$	174		$	1,023		$	(1,182	)	$	(473	)
Net income (loss) from discontinued operations	—			(5		)	(10		)	—			(15		)
Net income (loss)	(488		)	169			1,013			(1,182		)	(488		)
Other comprehensive income (loss), net of tax	(29		)	7			(47		)	40			(29		)
Comprehensive income (loss)	$	(517	)	$	176		$	966		$	(1,142	)	$	(517	)

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Year Ended December 31, 2015

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	4,618		$	1,567		$	5,432		$	(2,600	)	$	9,017
Expenses:
Direct vehicle and operating	2,895			856			1,306			(2		)	5,055
Depreciation of revenue earning vehicles and lease charges, net	1,951			665			2,414			(2,597		)	2,433
Selling, general and administrative	527			69			278			(1		)	873
Interest expense, net	389			(29		)	239			—			599
Goodwill and intangible asset impairments	40			—			—			—			40
Other (income) expense, net	—			(2		)	(113		)	—			(115		)
Total expenses	5,802			1,559			4,124			(2,600		)	8,885
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(1,184		)	8			1,308			—			132
Income tax (provision) benefit	262			35			(314		)	—			(17		)
Equity in earnings (losses) of subsidiaries, net of tax	1,198			193			—			(1,391		)	—
Net income (loss) from continuing operations	276			236			994			(1,391		)	115
Net income (loss) from discontinued operations	—			162			67			(68		)	161
Net income (loss)	276			398			1,061			(1,459		)	276
Other comprehensive income (loss), net of tax	(130		)	(4		)	(114		)	118			(130		)
Comprehensive income (loss)	$	146		$	394		$	947		$	(1,341	)	$	146

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Year Ended December 31, 2014

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	4,703		$	1,650		$	6,179		$	(3,057	)	$	9,475
Expenses:
Direct vehicle and operating	2,995			907			1,558			(2		)	5,458
Depreciation of revenue earning vehicles and lease charges, net	2,510			513			2,733			(3,051		)	2,705
Selling, general and administrative	536			89			315			(4		)	936
Interest expense, net	382			(17		)	252			—			617
Other (income) expense, net	(22		)	(4		)	16			—			(10		)
Total expenses	6,401			1,488			4,874			(3,057		)	9,706
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(1,698		)	162			1,305			—			(231		)
Income tax (provision) benefit	631			(99		)	(515		)	—			17
Equity in earnings (losses) of subsidiaries, net of tax	989			77			—			(1,066		)	—
Net income (loss) from continuing operations	(78		)	140			790			(1,066		)	(214		)
Net income (loss) from discontinued operations	—			136			37			(37		)	136
Net income (loss)	(78		)	276			827			(1,103		)	(78		)
Other comprehensive income (loss), net of tax	(121		)	(6		)	(112		)	118			(121		)
Comprehensive income (loss)	$	(199	)	$	270		$	715		$	(985	)	$	(199	)

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2016

(In millions)



	Parent (The Hertz Corporation)				Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Net cash provided by (used in) operating activities from continuing operations	$	(1,892	)		$	85		$	5,151		$	(814	)	$	2,530
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	4				(3		)	52			—			53
Net change in restricted cash and cash equivalents, non-vehicle	—				—			(1		)	—			(1		)
Revenue earning vehicles expenditures	(342		)		(69		)	(10,546		)	—			(10,957		)
Proceeds from disposal of revenue earning vehicles	417				—			8,347			—			8,764
Capital asset expenditures, non-vehicle	(80		)		(16		)	(38		)	—			(134		)
Proceeds from disposal of property and other equipment	35				1			23			—			59
Capital contributions to subsidiaries	(2,632		)	—	—			—			2,632			—
Return of capital from subsidiaries	3,849				—			—			(3,849		)	—
Loan to Parent/Guarantor from Non-Guarantor	—				—			(1,055		)	1,055			—
Acquisitions, net of cash acquired	—				—			(2		)	—			(2		)
Sales of (investment in) shares in equity investment	(45		)		—			267			—			222
Net cash provided by (used in) investing activities	1,206				(87		)	(2,953		)	(162		)	(1,996		)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	716				—			8,976			—			9,692
Repayments of vehicle debt	(707		)		—			(9,041		)	—			(9,748		)
Proceeds from issuance of non-vehicle debt	2,592				—			—			—			2,592
Repayments of non-vehicle debt	(4,651		)		—			—			—			(4,651		)
Payment of financing costs	(46		)		(3		)	(26		)	—			(75		)
Early redemption premium payment	(27		)		—			—			—			(27		)
Transfers (to) from discontinued entities	2,122				—			—			—			2,122
Capital contributions received from parent	—				—			2,632			(2,632		)	—
Loan to Parent/Guarantor from Non-Guarantor	1,055				—			—			(1,055		)	—
Payment of dividends and return of capital	—				—			(4,663		)	4,663			—
Advances to Hertz Global/Old Hertz Holdings	(102		)		—			—			—			(102		)
Other	13				—			—			—			13
Net cash provided by (used in) financing activities	965				(3		)	(2,122		)	976			(184		)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	—				—			(8		)	—			(8		)
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	279				(5		)	68			—			342
Cash and cash equivalents at beginning of period	179				17			278			—			474
Cash and cash equivalents at end of period	$	458			$	12		$	346		$	—		$	816

Cash flows from discontinued operations:
Cash flows provided by (used in) operating activities	$	—			$	59		$	148		$	—		$	207
Cash flows provided by (used in) investing activities	—				(75		)	(2		)	—			(77		)
Cash flows provided by (used in) financing activities	—				44			(138		)	—			(94		)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	$	—			$	28		$	8		$	—		$	36

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2015

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Net cash provided by (used in) operating activities from continuing operations	$	(1,390	)	$	(206	)	$	4,896		$	(524	)	$	2,776
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	25			1			195			—			221
Net change in restricted cash and cash equivalents, non-vehicle	—			3			(12		)	—			(9		)
Revenue earning vehicles expenditures	(434		)	(93		)	(10,859		)	—			(11,386		)
Proceeds from disposal of revenue earning vehicles	303			41			8,452			—			8,796
Capital asset expenditures, non-vehicle	(154		)	(6		)	(90		)	—			(250		)
Proceeds from disposal of property and other equipment	53			11			43			—			107
Capital contributions to subsidiaries	(2,650		)	(181		)	—			2,831			—
Return of capital from subsidiaries	4,634			443			—			(5,077		)	—
Acquisitions, net of cash acquired	(17		)	(3		)	(75		)	—			(95		)
Loan to Parent/Guarantor from Non-Guarantor	—			—			(737		)	737			—
Sales of (investment in) shares in equity investment	—			—			236			—			236
Advances to Old Hertz Holdings	(267		)	—			—			—			(267		)
Net cash provided by (used in) investing activities	1,493			216			(2,847		)	(1,509		)	(2,647		)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	25			—			7,503			—			7,528
Repayments of vehicle debt	—			—			(7,079		)	—			(7,079		)
Proceeds from issuance of non-vehicle debt	1,867			—			—			—			1,867
Repayments of non-vehicle debt	(2,112		)	—			—			—			(2,112		)
Capital contributions received from parent	—			—			2,831			(2,831		)	—
Loan to Parent/Guarantor from Non-Guarantor	737			—			—			(737		)	—
Payment of dividends and return of capital	—			—			(5,601		)	5,601			—
Payment of financing costs	(4		)	(3		)	(22		)	—			(29		)
Transfers (to) from discontinued entities	(95		)	—			163			—			68
Advances to Hertz Global/Old Hertz Holdings	(344		)	—			—			—			(344		)
Net cash provided by (used in) financing activities	74			(3		)	(2,205		)	2,033			(101		)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	—			—			(28		)	—			(28		)
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	177			7			(184		)	—			—
Cash and cash equivalents at beginning of period	2			10			462			—			474
Cash and cash equivalents at end of period	$	179		$	17		$	278		$	—		$	474

Cash flows from discontinued operations:
Cash flows provided by (used in) operating activities	—			356			200			—			556
Cash flows provided by (used in) investing activities	—			(447		)	62			—			(385		)
Cash flows provided by (used in) financing activities	—			87			(266		)	—			(179		)
Effect of foreign currency exchange rate changes on cash and cash equivalents	—			—			(3		)	—			(3		)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	$	—		$	(4	)	$	(7	)	$	—		$	(11	)

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2014

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Net cash provided by (used in) operating activities from continuing operations	$	(464	)	$	151		$	4,291		$	(1,037	)	$	2,941
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	(27		)	11			265			—			249
Revenue earning vehicles expenditures	(243		)	(129		)	(9,442		)	—			(9,814		)
Proceeds from disposal of revenue earning vehicles	183			107			6,877			—			7,167
Capital asset expenditures, non-vehicle	(195		)	(29		)	(107		)	—			(331		)
Proceeds from disposal of property and other equipment	43			4			31			—			78
Capital contributions to subsidiaries	(1,614		)	(37		)	—			1,651			—
Return of capital from subsidiaries	1,722			—			—			(1,722		)	—
Acquisitions, net of cash acquired	—			(28		)	(47		)	—			(75		)
Loan to Parent/Guarantor from Non-Guarantor	—			(43		)	(437		)	480			—
Sales of (investment in) shares in equity investment	—			—			(30		)	—			(30		)
Advances to Old Hertz Holdings	(28		)	—			—			—			(28		)
Repayments from Old Hertz Holdings	25			—			—			—			25
Net cash provided by (used in) investing activities	(134		)	(144		)	(2,890		)	409			(2,759		)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	27			—			4,383			—			4,410
Repayments of vehicle debt	(16		)	—			(4,507		)	—			(4,523		)
Proceeds from issuance of non-vehicle debt	2,480			—			—			—			2,480
Repayments of non-vehicle debt	(2,457		)	—			—			—			(2,457		)
Capital contributions received from parent	—			—			1,651			(1,651		)	—
Loan to Parent/Guarantor from Non-Guarantor	437			—			43			(480		)	—
Payment of dividends and return of capital	—			—			(2,759		)	2,759			—
Payment of financing costs	(12		)	(3		)	(48		)	—			(63		)
Transfer (to) from discontinued entities	77			—			—			—			77
Other	2			—			—			—			2
Net cash provided by (used in) financing activities	538			(3		)	(1,237		)	628			(74		)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	—			—			(30		)	—			(30		)
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	(60		)	4			134			—			78
Cash and cash equivalents at beginning of period	62			6			328			—			396
Cash and cash equivalents at end of period	$	2		$	10		$	462		$	—		$	474

Cash flows from discontinued operations:
Cash flows provided by (used in) operating activities	—			382			134			—			516
Cash flows provided by (used in) investing activities	—			(291		)	(136		)	—			(427		)
Cash flows provided by (used in) financing activities	—			(87		)	—			—			(87		)
Effect of foreign currency exchange rate changes on cash and cash equivalents	—			—			(1		)	—			(1		)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	$	—		$	4		$	(3	)	$	—		$	1

Quarterly Financial Information (Unaudited)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information (Unaudited)

In the fourth quarter of 2016, the Company identified various misstatements relating to prior period financial statements that it corrected during that quarter. The cumulative impact of the adjustments on the results for the fourth quarter of 2016 was an increase to pre-tax loss of approximately $11 million and an increase to net loss of approximately $7 million. The adjustments primarily relate to accounts receivable reserve adjustments associated with a business in the United Kingdom and an error identified in the Company’s vacation accrual. The Company considered both quantitative and qualitative factors in assessing the materiality of the items individually, and in the aggregate, and determined that the misstatements were not material to any prior quarterly or annual period and not material to the fourth quarter or annual 2016 periods.

In the third quarter of 2015, the Company identified various misstatements relating to prior period financial statements that it corrected during that quarter. The cumulative impact of the adjustments on the results for the third quarter of 2015 was a decrease to pre-tax income of approximately $18 million and a decrease to net income of approximately $13 million. The adjustments were comprised of $4 million related to the accounting for the post-acquisition sale of land that was revalued as part of the December 2005 acquisition of the Company, $4 million of additional accruals for the periods 2009 through 2014 resulting from concession audits at certain airport locations, a $4 million obligation to a jurisdiction for customer transaction fees, $3 million of additional write-offs of assets that were incorrectly capitalized and $3 million of other miscellaneous adjustments. The Company considered both quantitative and qualitative factors in assessing the materiality of the items individually, and in the aggregate, and determined that the misstatements were not material to any prior quarterly or annual period and not material to the third quarter or annual 2015 periods.

Provided below is a summary of the quarterly operating results during 2016 and 2015. Amounts are computed independently each quarter. As a result, the sum of the quarter's amounts may not equal the total amount for the respective year.

Hertz Global



	First Quarter			Second Quarter			Third Quarter		Fourth Quarter
(In millions, except per share data)	2016			2016			2016		2016 ⁽¹⁾
Revenues from continuing operations	$	1,983		$	2,270		$	2,542	$	2,009
Income (loss) from continuing operations before income taxes	(76		)	(35		)	108		(466		)
Net income (loss) from continuing operations	(52		)	(28		)	44		(438		)
Earnings (loss) per share from continuing operations:
Basic	(0.61		)	(0.33		)	0.52		(5.28		)
Diluted	(0.61		)	(0.33		)	0.52		(5.28		)



	First Quarter			Second Quarter		Third Quarter		Fourth Quarter
(In millions, except per share data)	2015			2015		2015		2015
Revenues from continuing operations	$	2,098		$	2,317	$	2,575	$	2,027
Income (loss) from continuing operations before income taxes	(109		)	38		256		(52		)
Net income (loss) from continuing operations	(78		)	13		217		(37		)
Earnings (loss) per share from continuing operations:
Basic	(0.85		)	0.14		2.38		(0.43		)
Diluted	(0.85		)	0.14		2.38		(0.43		)

Hertz



	First Quarter			Second Quarter			Third Quarter		Fourth Quarter
(In millions)	2016			2016			2016		2016 ⁽¹⁾
Revenues from continuing operations	$	1,983		$	2,270		$	2,542	$	2,009
Income (loss) from continuing operations before income taxes	(76		)	(35		)	108		(465		)
Net income (loss) from continuing operations	(52		)	(28		)	44		(437		)



	First Quarter			Second Quarter		Third Quarter		Fourth Quarter
(In millions)	2015			2015		2015		2015
Revenues from continuing operations	$	2,098		$	2,317	$	2,575	$	2,027
Income (loss) from continuing operations before income taxes	(109		)	38		256		(52		)
Net income (loss) from continuing operations	(78		)	13		217		(37		)

(1) Income (loss) from continuing operations for the fourth quarter of 2016 includes a $172 million goodwill impairment and a $120 million tradename impairment as further described in Note 6, "Goodwill and Other Intangible Assets ".

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Amendments to non-vehicle and vehicle debt agreements On February 3, 2017, the Company amended agreements related to its Senior Facilities, HVF II U.S. Vehicle Variable Funding Notes, European Revolving Credit Facility, Canadian Securitization and UK Leveraged Financing, as more fully described in Note 7, "Debt ". Self-insured liabilities On February 27, 2017, the United Kingdom Ministry of Justice modified the discount rate used to calculate payments related to personal injury claims in the United Kingdom. The change in discount rate is not expected to have a material impact on the Company’s financial position, results of operations or cash flows.

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT

12 Months Ended

Dec. 31, 2016

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Schedule I Condensed Financial Information of Registrant

PARENT COMPANY BALANCE SHEETS

(In millions, except par value)



	December 31,
	2016			2015
ASSETS
Cash and cash equivalents	$	—		$	—
Investments in subsidiaries	1,075			1,948
Assets of discontinued operations	—			71
Total assets	$	1,075		$	2,019
EQUITY
Preferred Stock, $0.01 par value, no shares issued and outstanding	$	—		$	—
Common Stock, $0.01 par value, 85 and 464 shares issued and 83 and 423 shares outstanding	1			4
Additional paid-in capital	2,227			3,343
Accumulated deficit	(882		)	(391		)
Accumulated other comprehensive income (loss)	(171		)	(245		)
	1,175			2,711
Treasury Stock, at cost, 2 shares and 41 shares	(100		)	(692		)
Total equity	$	1,075		$	2,019

The accompanying notes are an integral part of these financial statements.

SCHEDULE I (Continued)

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

HERTZ GLOBAL HOLDINGS, INC.

PARENT COMPANY STATEMENTS OF OPERATIONS

(In millions)



	Years Ended December 31,
	2016			2015			2014
Total Revenues	$	—		$	—		$	—
Expenses:
Interest expense, net	1			—			—
Total expenses	1			—			—
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(1		)	—			—
Income tax (provision) benefit	—			—			—
Equity in earnings (losses) of subsidiaries, net of tax	(488		)	276			(78		)
Net income (loss) from continuing operations	(489		)	276			(78		)
Net income (loss) from discontinued operations	(2		)	(3		)	(4		)
Net income (loss)	$	(491	)	$	273		$	(82	)

The accompanying notes are an integral part of these financial statements.

SCHEDULE I (Continued)

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

HERTZ GLOBAL HOLDINGS, INC.

PARENT COMPANY STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(In millions)



	Years Ended December 31,
	2016			2015			2014
Net income (loss)	$	(491	)	$	273		$	(82	)
Other comprehensive income (loss)	(29		)	(130		)	(121		)
Comprehensive income (loss)	$	(520	)	$	143		$	(203	)

The accompanying notes are an integral part of these financial statements.

SCHEDULE I (Continued)

CONDENSED FINANCIAL INFORMATION OF REGISTRANT

HERTZ GLOBAL HOLDINGS, INC.

PARENT COMPANY STATEMENTS OF CASH FLOWS

(In millions)



	Years Ended December 31,
	2016			2015			2014
Net cash provided by (used in) operating activities	$	(1	)	$	—		$	—
Cash flows from investing activities:
Transfers (to) from discontinued entities	—			(7		)	(5		)
Net cash provided by (used in) investing activities	—			(7		)	(5		)
Cash flows from financing activities:
Proceeds from exercise of stock options	11			5			19
Net settlement on vesting of restricted stock	(2		)	(4		)	(17		)
Purchase of treasury shares	(100		)	(605		)	—
Proceeds from loans with Hertz Affiliates	102			611			28
Repayments of loans with Hertz Affiliates	(10		)	—			(25		)
Net cash provided by (used in) financing activities	1			7			5
Net increase (decrease) in cash and cash equivalents during the period	—			—			—
Cash and cash equivalents at beginning of period	—			—			—
Cash and cash equivalents at end of period	$	—		$	—		$	—

Supplemental disclosures of non-cash information:
Settlement of amount due to affiliate	$	334		$	365		$	—

The accompanying notes are an integral part of these financial statements.

Background and Basis of Presentation

Hertz Global Holdings, Inc. ("Hertz Global" when including its subsidiaries and "Hertz Holdings" excluding its subsidiaries) was incorporated in Delaware in 2015 and wholly owns Rental Car Intermediate Holdings, LLC which wholly owns The Hertz Corporation ("Hertz"), Hertz Globals' primary operating company.

On June 30, 2016, former Hertz Global Holdings, Inc. (for periods on or prior to June 30, 2016, “Old Hertz Holdings” and for periods after June 30, 2016, “Herc Holdings”) completed a spin-off (the “Spin-Off”) of its global vehicle rental business through a dividend to stockholders of record of Old Hertz Holdings as of the close of business on June 22, 2016, the record date for the distribution, of all of the issued and outstanding common stock of Hertz Rental Car Holding Company, Inc. (“New Hertz”), which was re-named Hertz Global Holdings, Inc. in connection with the Spin-Off, on a one-to-five basis. Hertz Global is now an independent public company and trades on the New York Stock Exchange under the symbol "HTZ".

Despite the fact that this was a reverse spin off and Hertz Global was spun off from Old Hertz Holdings and was the legal spinnee in the transaction, for accounting purposes, due to the relative significance of New Hertz to Old Hertz Holdings, Hertz Global is considered the spinnor or divesting entity and Herc Holdings is considered the spinnee or divested entity. As a result, New Hertz, or Hertz Global, is the “accounting successor” to Old Hertz Holdings. As such, the historical financial information of Hertz Global reflects the equipment rental business and certain parent legal entities as discontinued operations.

These condensed parent company financial statements reflect the activity of Hertz Holdings as the parent company to Hertz and have been prepared in accordance with Rule 12-04, Schedule 1 of Regulation S-X, as the restricted net assets of Hertz exceed 25% of the consolidated net assets of Hertz Holdings. This information should be read in conjunction with the consolidated financial statements of Hertz Global included in this 2016 Annual Report under the caption Item 8, "Financial Statements and Supplementary Data."

Contingencies

In re Hertz Global Holdings, Inc. Securities Litigation

In November 2013, a purported shareholder class action, Pedro Ramirez, Jr. v. Hertz Global Holdings, Inc., et al., was commenced in the U.S. District Court for the District of New Jersey naming Old Hertz Holdings and certain of its officers as defendants and alleging violations of the federal securities laws. The complaint alleged that Old Hertz Holdings made material misrepresentations and/or omissions of material fact in its public disclosures during the period from February 25, 2013 through November 4, 2013, in violation of Section 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 promulgated thereunder. The complaint sought an unspecified amount of monetary damages on behalf of the purported class and an award of costs and expenses, including counsel fees and expert fees. In June 2014, Old Hertz Holdings responded to the amended complaint by filing a motion to dismiss. After a hearing in October 2014, the court granted Old Hertz Holdings’ motion to dismiss the complaint. The dismissal was without prejudice and plaintiff was granted leave to file a second amended complaint within 30 days of the order. In November 2014, plaintiff filed a second amended complaint which shortened the putative class period such that it was not alleged to have commenced until May 18, 2013 and made allegations that were not substantively very different than the allegations in the prior complaint. In early 2015, this case was assigned to a new federal judge in the District of New Jersey, and Old Hertz Holdings responded to the second amended complaint by filing another motion to dismiss. On July 22, 2015, the court granted Old Hertz Holdings’ motion to dismiss without prejudice and ordered that plaintiff could file a third amended complaint on or before August 22, 2015. On August 21, 2015, plaintiff filed a third amended complaint. The third amended complaint included additional allegations, named additional current and former officers as defendants and expanded the putative class period such that it was alleged to span from February 14, 2013 to July 16, 2015. On November 4, 2015, Old Hertz Holdings filed its motion to dismiss. Thereafter, a motion was made by plaintiff to add a new plaintiff, because of challenges to the standing of the first plaintiff. The court granted plaintiffs leave to file a fourth amended complaint to add the new plaintiff, and the new complaint was filed on March 1, 2016. Old Hertz Holdings and the individual defendants moved to dismiss the fourth amended complaint in its entirety with prejudice on March 24, 2016, and plaintiff filed its opposition to same on May 6, 2016. On June 13, 2016, Old Hertz Holdings and the individual defendants filed their reply briefs in support of their motions to dismiss. The matter is now fully briefed. New Hertz and Herc Holdings are each responsible for a portion of the matter and Hertz Global will be responsible for managing the settlement or other disposition of the matter. Hertz Global believes that it has valid and meritorious defenses and it intends to vigorously defend against the complaint, but litigation is subject to many uncertainties and the outcome of this matter is not predictable with assurance. It is possible that this matter could be decided unfavorably to Hertz Global. Hertz Holdings is currently unable to estimate the range of these possible losses, but they could be material to Hertz Holdings' consolidated financial condition, results of operations or cash flows in any particular reporting period.

Governmental Investigations

In June 2014, Hertz Holdings was advised by the staff of the New York Regional Office of the Securities and Exchange Commission ("SEC") that it is investigating the events disclosed in certain of Hertz Holdings’ filings with the SEC. In addition, in December 2014 a state securities regulator requested information and starting in June 2016 Hertz Holdings has had communications with the United States Attorney’s Office for the District of New Jersey regarding the same or similar events. The investigations and communications generally involve the restatements included in the Old Hertz Holdings Form 10-K for the year ended December 31, 2014, as filed with the SEC on July 16, 2015 (the “Old Hertz Holdings 2014 10-K”) and related accounting for prior periods. Hertz Holdings has and intends to continue to cooperate with all requests related to the foregoing. Due to the stage at which the proceedings are, Hertz is currently unable to predict the likely outcome of the proceedings or estimate the range of reasonably possible losses, which may be material. Among other matters, the restatements included in the Old Hertz Holdings 2014 Form 10-K addressed a variety of accounting matters involving Hertz Holdings’ Brazil vehicle rental operations.

Additionally, Hertz Holdings has identified certain activities in Brazil that raise issues under the Foreign Corrupt Practices Act and may raise issues under other federal and local laws, which Hertz Holdings has self-reported to appropriate government entities and the processes with these government entities continue. Hertz Holdings is continuing to investigate these issues. Hertz Holdings has established a reserve relating to the activities in Brazil which is not material. However, it is possible that an adverse outcome with respect to the activities in Brazil and the other issues discussed herein could exceed the amount accrued in an amount that could be material to Hertz Holdings' financial condition, results of operations or cash flows in any particular reporting period.

For a discussion of the commitments and contingencies of the indirect subsidiaries of Hertz Holdings, see Note 11, "Lease and Concession Agreements," and Note 17, "Contingencies and Off-Balance Sheet Commitments," to the Notes to its consolidated financial statements included in this 2016 Annual Report under the caption “Item 8—Financial Statements and Supplementary Data.”

Dividends

In October 2015, Hertz paid a non-cash dividend to Hertz Investors, Inc. consisting of the full rights to a receivable due from Old Hertz Holdings in the amount of $365 million plus accrued interest. Hertz Investors, Inc. declared and paid the same dividend to Old Hertz Holdings; thereby settling the amount due to Hertz.

Prior to the Spin-Off on June 30, 2016, Hertz paid a non-cash dividend to Hertz Investors, Inc. consisting of the full rights to the receivable due from Old Hertz Holdings under the New Master Loan in the amount of $334 million plus accrued interest. Hertz Investors, Inc. declared and paid the same dividend to Old Hertz Holdings; thereby settling the amount due to Hertz.

Share Repurchase

In March 2014, Old Hertz Holdings announced a $1.0 billion share repurchase program (the "2014 repurchase program"). During 2015, Old Hertz Holdings repurchased 37 million shares at an aggregate purchase price of approximately $605 million under the 2014 share repurchase program.

In connection with the Spin-Off on June 30, 2016, Hertz Holdings' Board approved a share repurchase program that authorized Hertz Holdings to repurchase approximately $395 million worth of shares of its common stock, (the "2016 share repurchase program"), which represents the amount remaining under the Old Hertz Holdings share repurchase program as of the Spin-Off. The 2016 share repurchase program permits Hertz Holdings to purchase shares through a variety of methods, including in the open market or through privately negotiated transactions, in accordance with applicable securities law. It does not obligate Hertz Holdings to make any repurchases at any specific time or situation. As of December 31, 2016, Hertz Holdings has repurchased two million shares for $100 million under this program.

Since Hertz Holdings does not conduct business itself, it primarily funds repurchases of its common stock using dividends from Hertz or amounts borrowed under the master loan agreement. In February 2017, as further described in Note 7, "Debt," to the Notes to Hertz Global's consolidated financial statements included in this 2016 Annual Report under the caption Item 8, "Financial Statements and Supplementary Data", Hertz amended its credit agreement governing its Senior Facilities which restricts its ability to make dividends and certain restricted payments, including payments to Hertz Holdings for share repurchases.

Transactions with Affiliates

Old Hertz Holdings and Hertz entered into a master loan agreement in 2014. In October 2015, Hertz paid a non-cash dividend to Hertz Investors, Inc. consisting of the full rights to a receivable due from Old Hertz Holdings under the Master Loan in the amount of $365 million plus accrued interest. Hertz Investors, Inc. declared and paid the same dividend to Old Hertz Holdings; thereby settling the amount due to Hertz at the time.

In November 2015, Old Hertz Holdings signed a new master loan agreement with Hertz for a facility size of $650 million with an expiration in November 2016 (the "New Master Loan"). There was $345 million due to Hertz under the New Master Loan at December 31, 2015, representing advances under the New Master Loan and any accrued but unpaid interest. Prior to the Spin-Off on June 30, 2016, Hertz paid a non-cash dividend to Hertz Investors, Inc. consisting of the full rights to the receivable due from Old Hertz Holdings under the New Master Loan in the amount of $334 million plus accrued interest. Hertz Investors, Inc. declared and paid the same dividend to Old Hertz Holdings; thereby settling the amount due to Hertz.

On June 30, 2016, Hertz Holdings signed a master loan agreement with Hertz for a facility size of $425 million with an expiration in June 2017 (the "Master Loan"). The interest rate is based on the U.S. Dollar LIBOR rate plus a margin. As of December 31, 2016, there was $102 million outstanding under the Master Loan, representing advances under the New Master Loan and any accrued but unpaid interest.

At December 31, 2016 Hertz Holdings has a receivable due from affiliate in the amount of $65 million which represents Hertz's tax related liability to Hertz Holdings.

The above amounts are included in investments in subsidiaries in the accompanying parent-only balance sheets of Hertz Holdings.

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

12 Months Ended

Dec. 31, 2016

Valuation and Qualifying Accounts [Abstract]

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS

SCHEDULE II

VALUATION AND QUALIFYING ACCOUNTS

HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES

THE HERTZ CORPORATION AND SUBSIDIARIES

(In millions)



	Balance at Beginning of Period		Additions
	Balance at Beginning of Period		Charged to Expense			Translation Adjustments			Deductions				Balance at End of Period
Receivables allowances:
Year Ended December 31, 2016	$	36	$	51		$	(2	)	$	(43	)	^(a)	$	42
Year Ended December 31, 2015	40		36			(1		)	(39		)	^(a)	36
Year Ended December 31, 2014	42		38			(1		)	(39		)	^(a)	40

Tax valuation allowances:
Year Ended December 31, 2016	$	148	$	83		$	(1	)	$	—			$	230
Year Ended December 31, 2015	222		(47		)	(27		)	—				148
Year Ended December 31, 2014	262		16			(19		)	(37		)		222


(a)	Amounts written off, net of recoveries.

Significant Accounting Policies (Policies)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Principles of Consolidation

Use of Estimates and Assumptions

Revenue Earning Equipment and Property and Equipment

Revenue Earning Vehicles

Property and Equipment

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



Buildings	5 to 50 years
Furniture and fixtures	1 to 15 years
Service vehicles and equipment	1 to 13 years
Leasehold improvements	The lesser of the economic life or the lease term

Property and Equipment

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



Buildings	5 to 50 years
Furniture and fixtures	1 to 15 years
Service vehicles and equipment	1 to 13 years
Leasehold improvements	The lesser of the economic life or the lease term

Self-insured Liabilities

Defined Benefit Pension Plans and Other Employee Benefits

Recoverability of Goodwill and Intangible Assets

Recoverability of Goodwill and Indefinite-lived Intangible Assets

Long-lived Assets, Including Finite-lived Intangible Assets

Financial Instruments

Stock-Based Compensation

Income Taxes

Revenue Recognition

The Company reports revenues net of any taxes or non-concession fees collected from customers on behalf of governmental authorities.

Vehicle Rental Operations

Revenue and expenses associated with gasoline, vehicle licensing and airport concessions are recorded on a gross basis within revenue and operating expenses.

Fleet Leasing and Management Operations

Cash and Cash Equivalents

Cash and cash equivalents include cash on hand and highly liquid investments with an original maturity of three months or less.

Restricted Cash and Cash Equivalents

Receivables

Acquisitions

Divestitures

Fair Value Measurements

Level 1 - Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities.

Level 3 - Prices or valuation techniques requiring inputs that are both significant to the fair value measurement and unobservable.

Environmental Liabilities

Asset Retirement Obligations

Foreign Currency Translation and Transactions

Advertising

Concentration of Credit Risk

Recent Issued Accounting Pronouncements

Recently Issued Accounting Pronouncements

Adopted

Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could be Achieved after the Requisite Service Period

Amendments to the Consolidation Analysis

Simplifying the Presentation of Debt Issuance Costs

Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement

Simplifying the Accounting for Measurement Period Adjustments for Business Combinations

Not Yet Adopted

Revenue from Contracts with Customers

Recognition and Measurement of Financial Assets and Financial Liabilities

Leases

Simplifying the Transition to the Equity Method of Accounting

Improvements to Employee Share-Based Payment Accounting

Measurement of Credit Losses on Financial Instruments

Classification of Certain Cash Receipts and Cash Payments

Tax Consequences of Intra-Entity Transfers of Assets Other Than Inventory

Interests Held Through Related Parties That Are Under Common Control

Restricted Cash

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2016

Accounting Policies [Abstract]

Schedule of Estimated Useful Lives of Depreciable Assets

Useful lives are as follows:



Buildings	5 to 50 years
Furniture and fixtures	1 to 15 years
Service vehicles and equipment	1 to 13 years
Leasehold improvements	The lesser of the economic life or the lease term

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2016

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Discontinued Operations



	Years Ended December 31,
(In millions)	2016			2015			2014
Total revenues	$	677		$	1,518		$	1,571
Direct operating expenses	366			841			856
Depreciation of revenue earning equipment and lease charges, net	181			329			329
Selling, general and administrative	123			172			152
Interest expense, net⁽¹⁾	17			23			31
Other (income) expense, net	(1		)	(56		)	(5		)
Income (loss) from discontinued operations before income taxes	(9		)	209			208
(Provision) benefit for taxes on discontinued operations	(8		)	(51		)	(76		)
Net income (loss) from discontinued operations	$	(17	)	$	158		$	132

The carrying amounts of the major classes of assets and liabilities of discontinued operations as of December 31, 2015 consisted of the following:



(In millions)	December 31, 2015
ASSETS
Cash and cash equivalents	$	12
Restricted cash and cash equivalents	16
Receivables, net of allowance	288
Inventories, net	22
Prepaid expenses and other assets	36
Revenue earning equipment, net	2,382
Property and other equipment, net	246
Other intangible assets, net	300
Goodwill	93
Total assets of discontinued operations	$	3,395
LIABILITIES
Accounts payable	$	109
Accrued liabilities and other	71
Accrued taxes, net	273
Debt	64
Public liability and property damage	8
Deferred income taxes, net	709
Total liabilities of discontinued operations	$	1,234

The Hertz Corporation

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Discontinued Operations



	Years Ended December 31,
(In millions)	2016			2015			2014
Total revenues	$	677		$	1,518		$	1,571
Direct operating expenses	366			841			856
Depreciation of revenue earning equipment and lease charges, net	181			329			329
Selling, general and administrative	124			172			152
Interest expense, net⁽¹⁾	13			20			24
Other (income) expense, net	(1		)	(56		)	(5		)
Income (loss) from discontinued operations before income taxes	(6		)	212			215
(Provision) benefit for taxes on discontinued operations	(9		)	(51		)	(79		)
Net income (loss) from discontinued operations	$	(15	)	$	161		$	136

The carrying amounts of the major classes of assets and liabilities of discontinued operations as of December 31, 2015 consisted of the following:



(In millions)	December 31, 2015
ASSETS
Cash and cash equivalents	$	5
Restricted cash and cash equivalents	16
Receivables, net of allowance	288
Inventories, net	22
Prepaid expenses and other assets	38
Revenue earning equipment, net	2,382
Property and other equipment, net	246
Other intangible assets, net	300
Goodwill	93
Total assets of discontinued operations	$	3,390
LIABILITIES
Accounts payable	$	109
Accrued liabilities and other	71
Accrued taxes, net	273
Debt	64
Public liability and property damage	8
Deferred income taxes, net	775
Total liabilities of discontinued operations	$	1,300

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 45
-Paragraph 11
-URI http://asc.fasb.org/extlink&oid=51716988&loc=SL51721533-107759

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721665-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1474-107760

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=51717284&loc=d3e1361-107760

Reference 5: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721683-107760

Reference 6: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51719941&loc=SL51724579-110230

Reference 7: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5C
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721675-107760

Reference 8: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 4A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721663-107760

Reference 9: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=51719941&loc=d3e2941-110230

Reference 10: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5B
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721673-107760

Reference 11: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 3A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721659-107760

Reference 12: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5A
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721671-107760

Reference 13: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 5D
-URI http://asc.fasb.org/extlink&oid=51717284&loc=SL51721677-107760

+ Details

Acquisitions and Divestitures (Tables)

12 Months Ended

Dec. 31, 2016

Business Combinations [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The purchase price was allocated as follows:



(In millions)	U.S. Rental Car
Revenue earning vehicles	$	43
Property and equipment	1
Other intangible assets	7
Goodwill	11
Total	$	62

The purchase price was allocated as follows:



(In millions)	U.S. Rental Car
Revenue earning vehicles	$	71
Property and equipment	6
Other intangible assets	9
Goodwill	1
Total	$	87

Revenue Earning Vehicles (Tables)

12 Months Ended

Dec. 31, 2016

Revenue Earning Vehicles [Abstract]

Components of Revenue Earning Vehicles

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



	December 31,
(In millions)	2016			2015
Revenue earning vehicles	$	13,287		$	13,242
Less: Accumulated depreciation	(2,678		)	(2,631		)
	10,609			10,611
Revenue earning vehicles held for sale, net	209			135
Revenue earning vehicles, net	$	10,818		$	10,746

Depreciation of revenue earning equipment and lease charges

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



	Years Ended December 31,
(In millions)	2016		2015		2014
Depreciation of revenue earning vehicles	$	2,359	$	2,272	$	2,449
(Gain) loss on disposal of revenue earning vehicles^(a)	172		89		176
Rents paid for vehicles leased	70		72		80
Depreciation of revenue earning vehicles and lease charges, net	$	2,601	$	2,433	$	2,705

(a) (Gain) loss on disposal of revenue earning vehicles by segment is as follows:



	Years Ended December 31,
(In millions)	2016			2015			2014
U.S. Rental Car⁽ⁱ⁾	$	177		$	97		$	178
International Rental Car	(5		)	(8		)	(2		)
Total	$	172		$	89		$	176

(i) Includes costs associated with the Company's U.S. vehicle sales operations of $109 million, $105 million and $32 million for the years ended December 31, 2016, 2015 and 2014, respectively.

Impact of depreciation rate changes

The impact of depreciation rate changes is as follows:



Increase (decrease)	Years Ended December 31,
(In millions)	2016		2015			2014
U.S. Rental Car	$	141	$	101		$	167
International Rental Car	4		(1		)	(3		)
Total	$	145	$	100		$	164

Goodwill and Other Intangible Assets (Tables)

12 Months Ended

Dec. 31, 2016

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of changes in goodwill, by segment

The following summarizes the changes in the Company's goodwill, by segment:



(In millions)	U.S. Rental Car		International Rental Car			All Other Operations			Total
Balance as of January 1, 2016
Goodwill	$	1,028	$	244		$	35		$	1,307
Accumulated impairment losses	—		(46		)	—			(46		)
	1,028		198			35			1,261
Impairment losses during the period	—		(172		)	—			(172		)
Other changes during the period^(a)	—		(7		)	(1		)	(8		)
	—		(179		)	(1		)	(180		)
Balance as of December 31, 2016
Goodwill	1,028		237			34			1,299
Accumulated impairment losses	—		(218		)	—			(218		)
	$	1,028	$	19		$	34		$	1,081



(In millions)	U.S. Rental Car		International Rental Car			All Other Operations		Total
Balance as of January 1, 2015
Goodwill	$	1,025	$	248		$	35	$	1,308
Accumulated impairment losses	—		(46		)	—		(46		)
	1,025		202			35		1,262
Goodwill acquired during the period	3		—			—		3
Other changes during the period^(a)	—		(4		)	—		(4		)
	3		(4		)	—		(1		)

Balance as of December 31, 2015
Goodwill	1,028		244			35		1,307
Accumulated impairment losses	—		(46		)	—		(46		)
	$	1,028	$	198		$	35	$	1,261


(a)	The change in the International Rental Car segment and All Other Operations segment primarily consists of foreign currency exchange rate adjustments.

Schedule of components of other intangible assets by major classes



	December 31, 2015
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Amortizable intangible assets:
Customer-related	$	333	$	(283	)	$	50
Concession rights	411		(144		)	267
Technology-related intangibles^(a)	283		(151		)	132
Other^(b)	81		(50		)	31
Total	1,108		(628		)	480
Indefinite-lived intangible assets:
Tradename	3,020		—			3,020
Other^(c)	22		—			22
Total	3,042		—			3,042
Total other intangible assets, net	$	4,150	$	(628	)	$	3,522

(a) Technology-related intangibles include software not yet placed into service.

(b) Other amortizable intangible assets primarily include the Donlen tradename and non-compete agreements.

Other intangible assets, net, consisted of the following major classes:



	December 31, 2016
(In millions)	Gross Carrying Amount		Accumulated Amortization			Net Carrying Value
Amortizable intangible assets:
Customer-related	$	333	$	(292	)	$	41
Concession rights	408		(188		)	220
Technology-related intangibles^(a)	294		(168		)	126
Other^(b)	82		(59		)	23
Total	1,117		(707		)	410
Indefinite-lived intangible assets:
Tradename	2,900		—			2,900
Other^(c)	22		—			22
Total	2,922		—			2,922
Total other intangible assets, net	$	4,039	$	(707	)	$	3,332

Debt (Tables)

12 Months Ended

Dec. 31, 2016

Debt Disclosure [Abstract]

Components of Debt



Facility	Weighted Average Interest Rate at December 31, 2016	Fixed or Floating Interest Rate	Maturity	December 31, 2016			December 31, 2015
Non-Vehicle Debt
Senior Term Loan	3.50%	Floating	6/2023	$	697		$	—
Senior RCF	N/A	Floating	6/2021	—			—
Senior Term Facility	N/A	N/A	N/A	—			2,062
Senior ABL Facility	N/A	N/A	N/A	—			—
Senior Notes⁽¹⁾	6.07%	Fixed	4/2018–10/2024	3,200			3,900
Promissory Notes	7.00%	Fixed	1/2028	27			27
Other Non-Vehicle Debt	2.03%	Fixed	Various	10			2
Unamortized Debt Issuance Costs and Net (Discount) Premium				(39		)	(44		)
Total Non-Vehicle Debt				3,895			5,947



Facility	Weighted Average Interest Rate at December 31, 2016	Fixed or Floating Interest Rate	Maturity	December 31, 2016	December 31, 2015
Vehicle Debt
HVF U.S. Vehicle Medium Term Notes
HVF Series 2010-1⁽²⁾	4.96%	Fixed	2/2018	115	240
HVF Series 2011-1⁽²⁾	3.51%	Fixed	3/2017	115	230
HVF Series 2013-1⁽²⁾	1.91%	Fixed	8/2018	625	950
				855	1,420
HVF II U.S. ABS Program
HVF II U.S. Vehicle Variable Funding Notes
HVF II Series 2013-A⁽²⁾	1.68%	Floating	10/2017	1,844	980
HVF II Series 2013-B⁽²⁾	1.74%	Floating	10/2017	626	1,308
HVF II Series 2014-A	N/A	N/A	N/A	—	1,737
				2,470	4,025
HVF II U.S. Vehicle Medium Term Notes
HVF II Series 2015-1⁽²⁾	2.93%	Fixed	3/2020	780	780
HVF II Series 2015-2⁽²⁾	2.30%	Fixed	9/2018	250	250
HVF II Series 2015-3⁽²⁾	2.96%	Fixed	9/2020	350	350
HVF II Series 2016-1⁽²⁾	2.72%	Fixed	3/2019	439	—
HVF II Series 2016-2⁽²⁾	3.25%	Fixed	3/2021	561	—
HVF II Series 2016-3⁽²⁾	2.56%	Fixed	7/2019	400	—
HVF II Series 2016-4⁽²⁾	2.91%	Fixed	7/2021	400	—
				3,180	1,380
Donlen ABS Program
HFLF Variable Funding Notes
HFLF Series 2013-2⁽²⁾	1.77%	Floating	9/2018	410	370
				410	370
HFLF Medium Term Notes
HFLF Series 2013-3⁽⁵⁾	1.55%	Floating	1/2017–5/2017	96	270
HFLF Series 2014-1⁽⁵⁾	1.32%	Floating	1/2017–12/2017	148	288
HFLF Series 2015-1⁽⁵⁾	1.31%	Floating	1/2017–11/2019	248	295
HFLF Series 2016-1⁽⁵⁾	1.92%	Floating	6/2017–4/2019	385	—
				877	853
Other Vehicle Debt
U.S. Vehicle RCF⁽³⁾	3.11%	Floating	6/2021	193	—
U.S. Vehicle Financing Facility	N/A	N/A	N/A	—	190
European Revolving Credit Facility	2.38%	Floating	10/2017	147	273
European Vehicle Notes⁽⁴⁾	4.29%	Fixed	1/2019–10/2021	677	464
European Securitization⁽²⁾	1.55%	Floating	10/2018	312	267
Canadian Securitization⁽²⁾	1.92%	Floating	1/2018	162	148
Australian Securitization⁽²⁾	3.14%	Floating	7/2018	117	98
Brazilian Vehicle Financing Facility	N/A	N/A	N/A	—	7
New Zealand RCF	4.31%	Floating	9/2018	41	—
Capitalized Leases	2.50%	Floating	1/2017–9/2020	244	362
				1,893	1,809



Facility	Weighted Average Interest Rate at December 31, 2016	Fixed or Floating Interest Rate	Maturity	December 31, 2016			December 31, 2015
Unamortized Debt Issuance Costs and Net (Discount) Premium				(39		)	(34		)
Total Vehicle Debt				9,646			9,823
Total Debt				$	13,541		$	15,770

N/A - Not Applicable


(1)	References to the "Senior Notes" include the series of Hertz's unsecured senior notes set forth on the table below. Outstanding principal amounts for each such series of the Senior Notes is also specified below:



(In millions)	Outstanding Principal
Senior Notes	December 31, 2016		December 31, 2015
4.25% Senior Notes due April 2018	$	250	$	250
7.50% Senior Notes due October 2018	—		700
6.75% Senior Notes due April 2019	450		1,250
5.875% Senior Notes due October 2020	700		700
7.375% Senior Notes due January 2021	500		500
6.25% Senior Notes due October 2022	500		500
5.50% Senior Notes due October 2024	800		—
	$	3,200	$	3,900


(2)	Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness expect the relevant indebtedness to be repaid. The legal final maturity date is the date on which the relevant indebtedness is legally due and payable.


(3)	Approximately $67 million of the aggregate maximum borrowing capacity under the U.S. Vehicle RCF is scheduled to expire in January 2018.


(4)	References to the "European Vehicle Notes" include the series of HHN BV's (as defined below) unsecured senior notes (converted from Euros to U.S. dollars at a rate of 1.04 to 1) set forth on the table below. Outstanding principal amounts for each such series of the European Vehicle Notes is also specified below:



(In millions)	Outstanding Principal
European Vehicles Notes	December 31, 2016		December 31, 2015
4.375% Senior Notes due January 2019	$	443	$	464
4.125% Senior Notes due October 2021	234		—
	$	677	$	464

(5)

The fair value of debt is estimated based on quoted market rates as well as borrowing rates currently available to the Company for loans with similar terms and average maturities (Level 2 inputs).



	As of December 31, 2016				As of December 31, 2015
(In millions)	Nominal Unpaid Principal Balance		Aggregate Fair Value		Nominal Unpaid Principal Balance		Aggregate Fair Value
Non-vehicle Debt	$	3,934	$	3,791	$	5,991	$	6,070
Vehicle Debt	9,685		9,670		9,857		9,854
Total	$	13,619	$	13,461	$	15,848	$	15,924

Schedule of extinguishment of debt

ns. The following table reflects the amount of losses for each respective redemption/terminatio

Components of maturities of debt

At December 31, 2016, prior to giving effect to the February 2017 amendments to certain facilities, the nominal amounts of maturities of debt for each of the years ending December 31 are as follow

re. The following table reflects the nominal amounts of maturities of debt for each of the years ending December 31, as adjusted to reflect the impact of the February 2017 amendments

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

s of December 31, 2016, and are presented net of any outstanding letters of cred

Schedule of Debt Covenant Compliance Ratios

nt. The amended financial covenant provides that Hertz’s consolidated first lien net leverage ratio, as defined in the Senior RCF Credit Agreement, as of the last day of any fiscal quarter (the "Covenant Leverage Ratio"), commencing with December 31, 2016, may not exceed the ratios indicated below

Employee Retirement Benefits (Tables)

12 Months Ended

Dec. 31, 2016

Compensation and Retirement Disclosure [Abstract]

Schedule or Description of Weighted Average Discount Rate

The significant weighted-average assumptions used at the June 30, 2016 measurement date were as follows.



Discount rate		3.5%
Expected rate of return on plan assets		7.2%
Average salary increase		4.3%

Schedule of Net Funded Status



	Pension Benefits												Postretirement
	U.S.						Non-U.S.						Benefits (U.S.)
(In millions)	2016			2015			2016			2015			2016			2015
Change in Benefit Obligation
Benefit obligation at January 1	$	687		$	726		$	235		$	274		$	15		$	15
Service cost	2			3			1			1			—			—
Interest cost	24			27			8			8			1			1
Employee contributions	—			—			—			—			1			—
Plan curtailments	(1		)	(1		)	—			—			—			—
Plan settlements	(31		)	(21		)	—			(6		)	—			—
Benefits paid	(4		)	(29		)	(5		)	(5		)	(2		)	(1		)
Foreign currency exchange rate translation	—			—			(37		)	(16		)	—			—
Actuarial loss (gain)	18			(18		)	55			(22		)	—			—
Transfers in connection with the Spin-Off	(157		)	—			—			—			(1		)	—
Other	—			—			—			1			—			—
Benefit obligation at December 31	$	538		$	687		$	257		$	235		$	14		$	15
Change in Plan Assets
Fair value of plan assets at January 1	$	575		$	619		$	200		$	212		$	—		$	—
Actual return on plan assets	48			(16		)	25			4			—			—
Company contributions	6			22			4			5			1			1
Employee contributions	—			—			—			—			1			—
Plan settlements	(31		)	(21		)	—			(6		)	—			—
Benefits paid	(4		)	(29		)	(5		)	(5		)	(2		)	(1		)
Foreign currency exchange rate translation	—			—			(36		)	(10		)	—			—
Transfers in connection with the Spin-Off	(125		)	—			—			—			—			—
Amounts associated with discontinued operations (yet to be transferred)	(10		)	—			—			—			—			—
Fair value of plan assets at December 31	$	459		$	575		$	188		$	200		$	—		$	—
Funded Status of the Plan
Plan assets less than benefit obligation⁽¹⁾	$	(79	)	$	(112	)	$	(69	)	$	(35	)	$	(14	)	$	(15	)

(1) For 2015, the U.S. plan includes $19 million of projected benefit obligations recorded in the liabilities of discontinued operations in the accompanying consolidated balance sheets.

Schedule of Defined Benefit Plan, Amounts Included in Financial Statements and Assumptions Used



	Pension Benefits												Postretirement
	U.S.						Non-U.S.						Benefits (U.S.)
($ in millions)	2016			2015			2016			2015			2016			2015
Amounts recognized in balance sheet:
Prepaid expenses and other assets	$	—		$	—		$	1		$	29		$	—		$	—
Accrued liabilities⁽¹⁾	$	(79	)	$	(112	)	$	(70	)	$	(64	)	$	(14	)	$	(15	)
Net obligation recognized in the balance sheet	$	(79	)	$	(112	)	$	(69	)	$	(35	)	$	(14	)	$	(15	)

Prior service credit	$	1		$	1		$	—		$	—		$	—		$	—
Net gain (loss)	(87		)	(128		)	(66		)	(33		)	—			1
Accumulated other comprehensive gain (loss)	(86		)	(127		)	(66		)	(33		)	—			1
Funded/(Unfunded) accrued pension or postretirement benefit	7			15			(3		)	(2		)	(14		)	(16		)
Net obligation recognized in the balance sheet	$	(79	)	$	(112	)	$	(69	)	$	(35	)	$	(14	)	$	(15	)

Total recognized in other comprehensive (income) loss	$	(41	)	$	31		$	33		$	(17	)	$	—		$	—
Total recognized in net periodic benefit cost and other comprehensive (income) loss	$	(36	)	$	27		$	31		$	(20	)	$	1		$	1
Estimated amounts that will be amortized from accumulated other comprehensive (income) loss over the next fiscal year:
Net loss	$	(4	)	$	(8	)	$	(1	)	$	—		$	—		$	—
Accumulated Benefit Obligation at December 31	$	535		$	683		$	255		$	234		N/A			N/A

Weighted-average assumptions as of December 31
Discount rate	4.0		%	4.3		%	2.5		%	3.6		%	3.9		%	4.2		%
Expected return on assets	7.0		%	7.2		%	5.2		%	6.1		%	N/A			N/A
Average rate of increase in compensation	4.3		%	4.3		%	2.8		%	2.6		%	N/A			N/A
Initial health care cost trend rate	N/A			N/A			N/A			N/A			6.7		%	6.9		%
Ultimate health care cost trend rate	N/A			N/A			N/A			N/A			4.5		%	4.5		%
Number of years to ultimate trend rate	N/A			N/A			N/A			N/A			22			23

(1) For 2015, the U.S. plan includes $19 million of projected benefit obligations recorded in the liabilities of discontinued operations in the accompanying consolidated balance sheets.

N/A - Not applicable

Schedule of Net Benefit Costs

The following table sets forth the net periodic pension and postretirement (including health care, life insurance and auto) expense charged to net income (loss) from continuing operations:



	Pension Benefits																		Postretirement Benefits (U.S.)
	U.S.									Non-U.S.									Postretirement Benefits (U.S.)
	Years Ended December 31,
($ in millions)	2016			2015			2014			2016			2015			2014			2016			2015			2014
Components of Net Periodic
Service cost	$	2		$	3		$	23		$	1		$	1		$	2		$	—		$	—		$	—
Interest cost	24			21			25			8			8			10			1			1			1
Expected return on plan assets	(32		)	(31		)	(32		)	(11		)	(15		)	(15		)	—			—			—
Net amortizations	6			2			2			—			2			—			—			—			—
Settlement loss	5			4			4			—			1			—			—			—			—
Curtailment gain	—			—			(8		)	—			—			—			—			—			—
Special termination cost	—			—			4			—			—			—			—			—			—
Net pension and postretirement expense (benefit)	$	5		$	(1	)	$	18		$	(2	)	$	(3	)	$	(3	)	$	1		$	1		$	1
Weighted-average discount rate for expense (January 1)	4.3		%	3.9		%	4.8		%	3.6		%	3.3		%	3.2		%	4.2		%	3.8		%	4.4		%
Weighted-average assumed long-term rate of return on assets (January 1)	7.2		%	7.4		%	7.6		%	6.1		%	7.3		%	7.4		%	N/A			N/A			N/A
Initial health care cost trend rate	N/A			N/A			N/A			N/A			N/A			N/A			6.9		%	7.3		%	7.5		%
Ultimate health care cost trend rate	N/A			N/A			N/A			N/A			N/A			N/A			4.5		%	4.5		%	4.5		%
Number of years to ultimate trend rate	N/A			N/A			N/A			N/A			N/A			N/A			22			14			15

N/A - Not applicable

Schedule of Allocation of Plan Assets



(In millions)	December 31, 2016					December 31, 2015
Asset Category	Level 1		Level 2			Level 1		Level 2
Cash	$	3	$	—		$	2	$	—
Short Term Investments	$	—	$	—		$	—	$	5
Equity Funds:
U.S. Large Cap	—		135			—		158
U.S. Mid Cap	—		36			—		36
U.S. Small Cap	—		30			—		45
International Large Cap	—		77			—		96
International Emerging Markets	—		23			—		29
Asset-Backed Securities	—		6			—		5
Fixed Income Securities:	—
U.S. Treasuries	—		46			—		61
Corporate Bonds	—		88			—		110
Government Bonds	—		6			—		9
Municipal Bonds	—		11			—		10
Real Estate (REITs)	—		8			—		9
Amounts associated with discontinued operations (yet to be transferred)	—		(10		)	—		—
Total fair value of pension plan assets	$	3	$	456		$	2	$	573

The fair value measurements of the U.K. Plan assets are based upon inputs that reflect significant observable inputs (Level 2) and relate to common collective trusts and other pooled investment vehicles consisting of the following asset categories:



(In millions)	December 31, 2016		December 31, 2015
Asset Category	Level 2		Level 2
Actively Managed Multi-Asset Funds:
Diversified Growth Funds	$	65	$	75
Passive Equity Funds:
U.K. Equities	24		25
Overseas Equities	29		31
Passive Bond Funds:
Corporate Bonds	20		20
Index-Linked Gilts	44		44
Total fair value of pension plan assets	$	182	$	195

Schedule of Expected Benefit Payments

The following table presents estimated future benefit payments:



(In millions)	Pension Benefits		Postretirement Benefits (U.S.)
2017	$	36	$	1
2018	37		1
2019	40		1
2020	42		1
2021	45		1
After 2021	237		6
	$	437	$	11

Schedule of Multiemployer Plans

For plans that are not individually significant to the Company, the total amount of contributions is presented in the aggregate.



	EIN /Pension Plan Number	Pension Protection Act Zone Status		FIP / RP Status Pending /Implemented⁽¹⁾	Contributions by The Hertz Corporation (In millions)						Surcharge Imposed	Expiration Dates of Collective Bargaining Agreements
Pension Fund	EIN /Pension Plan Number	2016	2015	FIP / RP Status Pending /Implemented⁽¹⁾	2016		2015		2014		Surcharge Imposed	Expiration Dates of Collective Bargaining Agreements
Western Conference of Teamsters	91-6145047	Green	Green	NA	$	6	$	6	$	6	N/A	10/1/2017 - 10/1/2020
Other Plans⁽²⁾					3		4		3
Total Contributions					$	9	$	10	$	9


N/A	Not applicable

Stock-Based Compensation (Tables)

12 Months Ended

Dec. 31, 2016

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Summary of the total compensation expense and associated recognized income tax benefits



	Years Ended December 31,
(In millions)	2016			2015			2014
Compensation expense	$	13		$	16		$	10
Income tax benefit	(5		)	(7		)	(4		)
Total	$	8		$	9		$	6

Schedule of valuation assumptions

The Company calculates the expected volatility based on the historical movement of its stock price.



	Grants
Assumption	2016			2015			2014
Expected volatility	44.2		%	41.4		%	39.3		%
Expected dividend yield	—		%	—		%	—		%
Expected term (years)	5			5			3
Risk-free interest rate	1.00		%	1.17		%	0.96		%
Weighted-average grant date fair value	$	39.35		$	29.09		$	28.30

Summary of option activity under the stock incentive plan and omnibus plan

A summary of option activity under the Stock Incentive Plan and the Omnibus Plan as of December 31, 2016 is presented below.



Options	Shares		Weighted- Average Exercise Price		Weighted- Average Remaining Contractual Term (years)	Aggregate Intrinsic Value (In millions)
Outstanding at January 1, 2016	2,626,013		$	58.61	3.0	$	22
Granted	200,393		39.35		—	—
Exercised	(403,074	)	23.29		—	—
Forfeited or Expired	(1,536,968	)	60.61		—	—
Outstanding at December 31, 2016	886,364		66.24		3.5	2
Exercisable at December 31, 2016	388,086		60.95		2.9	—

Summary of non-vested options and changes during the year

A summary of non-vested options as of December 31, 2016, and changes during the year, is presented below.



	Non-vested Shares		Weighted- Average Exercise Price		Weighted- Average Grant- Date Fair Value
Non-vested as of January 1, 2016	657,857		$	87.84	$	28.49
Granted	200,393		39.35		15.85
Vested	(127,999	)	87.45		29.08
Forfeited	(231,973	)	63.94		19.14
Non-vested as of December 31, 2016	498,278		70.36		24.32

Schedule of additional information pertaining to option activity under the plans

Additional information pertaining to option activity under the plans is as follows:



	Years Ended December 31,
(In millions)	2016		2015		2014
Aggregate intrinsic value of stock options exercised	$	12	$	4	$	24
Cash received from the exercise of stock options	10		5		18
Fair value of options that vested	10		5		5
Tax benefit realized on exercise of stock options	4		1		1

Summary of PSU and RSU activity under the omnibus plan

A summary of the PSU activity under the Omnibus Plan as of December 31, 2016 is presented below.



	Shares		Weighted- Average Fair Value		Aggregate Intrinsic Value (In millions)
Outstanding at January 1, 2016	378,855		$	80.17	$	20
Granted	590,903		37.85		—
Vested	—		—		—
Forfeited or Expired	(376,827	)	65.32		—
Outstanding at December 31, 2016	592,931		46.39		—

A summary of RSU activity under the Omnibus Plan as of December 31, 2016 is presented below.



	Shares		Weighted- Average Fair Value		Aggregate Intrinsic Value (In millions)
Outstanding at January 1, 2016	228,282		$	81.83	$	13
Granted	292,010		38.86		—
Vested	(86,929	)	80.42		—
Forfeited or Expired	(86,379	)	70.71		—
Outstanding at December 31, 2016	346,984		48.46		—

Schedule of additional information pertaining to RSU activity

Additional information pertaining to RSU activity is as follows:



	Years Ended December 31,
	2016		2015		2014
Total fair value of awards that vested (In millions)	$	7	$	5	$	9
Weighted average grant date fair value of awards	38.86		80.77		111.69

Lease and Concession Agreements (Tables)

12 Months Ended

Dec. 31, 2016

Leases [Abstract]

Schedule of lease expenses



	Years ended December 31,
(In millions)	2016			2015			2014
Rents	$	122		$	158		$	153
Concession fees:
Minimum fixed obligations	291			367			416
Additional amounts, based on revenues	421			344			301
Total	834			869			870
Sublease income	(4		)	(5		)	(3		)
Total	$	830		$	864		$	867

In addition to the rents mentioned above, the Company has various leases on revenue earning vehicles and office, computer and other equipment under which the following amounts were expensed:



	Years Ended December 31,
(In millions)	2016		2015		2014
Revenue earning vehicles	$	70	$	72	$	80
Office, computer and other equipment	10		16		17
Total	$	80	$	88	$	97

Schedule of minimum obligations under existing agreements

As of December 31, 2016, minimum net obligations under existing agreements referred to above approximate the following:



(In millions)	Rents		Concessions
2017	$	138	$	291
2018	146		237
2019	109		178
2020	80		144
2021	64		105
After 2021	292		428
Total	$	829	$	1,383

As of December 31, 2016, minimum obligations under existing agreements for revenue earning vehicles and office, computer and other equipment approximate the following:



(In millions)
2017	$	20
2018	11
2019	4
2020	4
2021	4
After 2021	—
Total	$	43

Restructuring (Tables)

12 Months Ended

Dec. 31, 2016

Restructuring and Related Activities [Abstract]

Summary of restructuring charges in consolidated statement of operations

Restructuring charges under these programs were as follows:



	Years Ended December 31,
(In millions)	2016		2015			2014
By Type:
Termination benefits	$	24	$	13		$	28
Impairments and asset write-downs	30		2			23
Facility closure and lease obligation costs	7		18			12
Other	1		(4		)	10
Total	$	62	$	29		$	73



	Years Ended December 31,
(In millions)	2016		2015		2014
By Caption:
Direct vehicle and operating	$	36	$	18	$	30
Selling, general and administrative	26		11		43
Total	$	62	$	29	$	73



	Years Ended December 31,
(In millions)	2016		2015		2014
By Segment:
U.S. Rental Car	$	49	$	23	$	27
International Rental Car	9		6		19
Corporate	4		—		27
Total	$	62	$	29	$	73

Schedule of activity affecting the restructuring accrual



(In millions)	Termination Benefits			Other			Total
Balance as of December 31, 2014	$	20		$	19		$	39
Charges incurred	13			16			29
Cash payments	(23		)	(14		)	(37		)
Other non-cash changes^(a)	(1		)	(6		)	(7		)
Balance as of December 31, 2015	$	9		$	15		$	24
Charges incurred	24			38			62
Cash payments	(19		)	(9		)	(28		)
Other non-cash changes^(b)	(1		)	(30		)	(31		)
Balance as of December 31, 2016	$	13		$	14		$	27


(a)	Decrease in 2015 primarily consists of $4 million related to the write-down of assets deemed to have no future use in the Company's U.S. Rental Car segment.


(b)	Decrease in 2016 primarily consists of $25 million related to the impairment of certain assets used in the U.S. Rental Car segment in conjunction with a restructuring program.

Income Tax (Provision) Benefit (Tables)

12 Months Ended

Dec. 31, 2016

Income Tax Disclosure [Abstract]

Schedule of components of income before income taxes

The components of income (loss) before income taxes for the periods were as follows (in millions):

Hertz Global



	Years Ended December 31,
	2016			2015			2014
Domestic	$	(535	)	$	(84	)	$	(323	)
Foreign	65			216			92
Total income (loss) from continuing operations before income taxes	$	(470	)	$	132		$	(231	)

Hertz



	Years Ended December 31,
	2016			2015			2014
Domestic	$	(534	)	$	(84	)	$	(323	)
Foreign	65			216			92
Total income (loss) from continuing operations before income taxes	$	(469	)	$	132		$	(231	)

Schedule of total provision for taxes on income

The total income tax provision (benefit) consists of the following (in millions):

Hertz Global and Hertz



	Years Ended December 31,
	2016			2015			2014
Current:
Federal	$	22		$	(49	)	$	(34	)
Foreign	48			57			32
State and local	12			(2		)	8
Total current	82			6			6
Deferred:
Federal	(131		)	34			(43		)
Foreign	1			(23		)	10
State and local	52			—			10
Total deferred	(78		)	11			(23		)
Total provision (benefit)	$	4		$	17		$	(17	)

Schedule of principal items of the U.S. and foreign net deferred tax assets and liabilities

The principal items of the U.S. and foreign net deferred tax assets and liabilities are as follows (in millions):

Hertz Global and Hertz



	Years Ended December 31,
	2016			2015
Deferred Tax Assets:
Employee benefit plans	$	64		$	78
Net operating loss carry forwards	1,669			1,651
Federal, state and foreign local tax credit carry forwards	59			42
Accrued and prepaid expenses	251			241
Total Deferred Tax Assets	2,043			2,012
Less: Valuation Allowance	(230		)	(148		)
Total Net Deferred Tax Assets	1,813			1,864
Deferred Tax Liabilities:
Depreciation on tangible assets	(2,673		)	(2,663		)
Intangible assets	(1,232		)	(1,303		)
Total Deferred Tax Liabilities	(3,905		)	(3,966		)
Net Deferred Tax Liability	$	(2,092	)	$	(2,102	)

Schedule of significant items in the reconciliation of the statutory and effective income tax rates

The significant items in the reconciliation of the statutory and effective income tax rates consisted of the following:



	Years Ended December 31,
	2016		2015		2014
Statutory Federal Tax Rate	35	%	35	%	35	%
Foreign tax rate differential	2		(20	)	2
State and local income taxes, net of federal income tax benefit	3		(5	)	2
Change in state statutory rates, net of federal income tax benefit	(7	)	5		(1	)
Federal and foreign permanent differences	(1	)	5		(1	)
Withholding taxes	(2	)	5		(4	)
Uncertain tax positions	—		(5	)	(4	)
Change in valuation allowance	(11	)	(35	)	(9	)
Benefit from sale of non-U.S. operations	—		17		—
Change in foreign statutory rates	(3	)	1		(3	)
Goodwill impairment	(12	)	—		—
Sale of CAR Inc. common stock	—		14		—
Stock option shortfalls	(3	)	—		—
All other items, net	(2	)	(4	)	(10	)
Effective Tax Rate	(1	)%	13	%	7	%

Schedule of a reconciliation of the beginning and ending amount of unrecognized tax benefits

A reconciliation of the beginning and ending amount of unrecognized tax benefits is as follows:



(In millions)	2016			2015			2014
Balance at January 1	$	81		$	57		$	11
Increase (Decrease) attributable to tax positions taken during prior periods	(35		)	16			4
Increase (Decrease) attributable to tax positions taken during the current year	—			9			42
Decrease attributable to settlements with taxing authorities	(1		)	(1		)	—
Balance at December 31	$	45		$	81		$	57

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2016

Financial Instruments

Summary of financial assets and liabilities measured at fair value on a recurring basis

The following table summarizes the estimated fair value of financial instruments:



	Fair Value of Financial Instruments
	Asset Derivatives⁽¹⁾				Liability Derivatives⁽¹⁾
	Years Ended December 31,				Years Ended December 31,
(In millions)	2016		2015		2016		2015
Interest rate instruments	$	1	$	9	$	2	$	9
Foreign currency forward contracts	2		3		4		1
Total	$	3	$	12	$	6	$	10


(1)	All asset derivatives are recorded in "Prepaid expenses and other assets" and all liability derivatives are recorded in accrued liabilities in the accompanying consolidated balance sheets.

Schedule of gain (loss) on derivative instruments not designated as hedges recognized in income

The following table summarizes the gains or (losses) on financial instruments for the period indicated:



	Location of Gain or (Loss) Recognized on Derivatives	Amount of Gain or (Loss) Recognized in Income on Derivatives
		Years Ended December 31,
(In millions)		2016			2015			2014
Interest rate instruments	Selling, general and administrative	$	—		$	—		$	(2	)
Foreign currency forward contracts	Selling, general and administrative	(5		)	(14		)	—
Total		$	(5	)	$	(14	)	$	(2	)

Offsetting Assets

The impact of offsetting derivative instruments is depicted below as of December 31, 2016:



Prepaid Expenses and Other Assets: (In millions)	Gross assets		Gross assets offset in Balance Sheet		Net recognized assets in Balance Sheet		Gross Financial Instruments not offset in Balance Sheet		Net Amount
Interest rate instruments	$	1	$	—	$	1	$	—	$	1
Foreign currency forward contracts	2		—		2		—		2
Total	$	3	$	—	$	3	$	—	$	3

The impact of offsetting derivative instruments is depicted below as of December 31, 2015:



Prepaid Expenses and Other Assets: (In millions)	Gross assets		Gross assets offset in Balance Sheet		Net recognized assets in Balance Sheet		Gross Financial Instruments not offset in Balance Sheet		Net Amount
Interest rate instruments	$	9	$	—	$	9	$	—	$	9
Foreign currency forward contracts	3		—		3		—		3
Total	$	12	$	—	$	12	$	—	$	12

Offsetting Liabilities



Accrued Liabilities: (In millions)	Gross liabilities		Gross liabilities offset in Balance Sheet		Net recognized liabilities in Balance Sheet		Gross Financial Instruments not offset in Balance Sheet		Net Amount
Interest rate instruments	$	9	$	—	$	9	$	—	$	9
Foreign currency forward contracts	1		—		1		—		1
Total	$	10	$	—	$	10	$	—	$	10



Accrued Liabilities: (In millions)	Gross liabilities		Gross liabilities offset in Balance Sheet		Net recognized liabilities in Balance Sheet		Gross Financial Instruments not offset in Balance Sheet		Net Amount
Interest rate instruments	$	2	$	—	$	2	$	—	$	2
Foreign currency forward contracts	4		—		4		—		4
Total	$	6	$	—	$	6	$	—	$	6

Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Company's Cash Equivalents and Investments

The following table summarizes the ending balances of the Company's cash equivalents and investments.



	December 31, 2016								December 31, 2015
(In millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Money market funds	$	213	$	393	$	—	$	606	$	181	$	49	$	—	$	230
Equity and other securities	9		—		—		9		—		111		—		111
Total	$	222	$	393	$	—	$	615	$	181	$	160	$	—	$	341

Components of Debt



Facility	Weighted Average Interest Rate at December 31, 2016	Fixed or Floating Interest Rate	Maturity	December 31, 2016			December 31, 2015
Non-Vehicle Debt
Senior Term Loan	3.50%	Floating	6/2023	$	697		$	—
Senior RCF	N/A	Floating	6/2021	—			—
Senior Term Facility	N/A	N/A	N/A	—			2,062
Senior ABL Facility	N/A	N/A	N/A	—			—
Senior Notes⁽¹⁾	6.07%	Fixed	4/2018–10/2024	3,200			3,900
Promissory Notes	7.00%	Fixed	1/2028	27			27
Other Non-Vehicle Debt	2.03%	Fixed	Various	10			2
Unamortized Debt Issuance Costs and Net (Discount) Premium				(39		)	(44		)
Total Non-Vehicle Debt				3,895			5,947



Facility	Weighted Average Interest Rate at December 31, 2016	Fixed or Floating Interest Rate	Maturity	December 31, 2016	December 31, 2015
Vehicle Debt
HVF U.S. Vehicle Medium Term Notes
HVF Series 2010-1⁽²⁾	4.96%	Fixed	2/2018	115	240
HVF Series 2011-1⁽²⁾	3.51%	Fixed	3/2017	115	230
HVF Series 2013-1⁽²⁾	1.91%	Fixed	8/2018	625	950
				855	1,420
HVF II U.S. ABS Program
HVF II U.S. Vehicle Variable Funding Notes
HVF II Series 2013-A⁽²⁾	1.68%	Floating	10/2017	1,844	980
HVF II Series 2013-B⁽²⁾	1.74%	Floating	10/2017	626	1,308
HVF II Series 2014-A	N/A	N/A	N/A	—	1,737
				2,470	4,025
HVF II U.S. Vehicle Medium Term Notes
HVF II Series 2015-1⁽²⁾	2.93%	Fixed	3/2020	780	780
HVF II Series 2015-2⁽²⁾	2.30%	Fixed	9/2018	250	250
HVF II Series 2015-3⁽²⁾	2.96%	Fixed	9/2020	350	350
HVF II Series 2016-1⁽²⁾	2.72%	Fixed	3/2019	439	—
HVF II Series 2016-2⁽²⁾	3.25%	Fixed	3/2021	561	—
HVF II Series 2016-3⁽²⁾	2.56%	Fixed	7/2019	400	—
HVF II Series 2016-4⁽²⁾	2.91%	Fixed	7/2021	400	—
				3,180	1,380
Donlen ABS Program
HFLF Variable Funding Notes
HFLF Series 2013-2⁽²⁾	1.77%	Floating	9/2018	410	370
				410	370
HFLF Medium Term Notes
HFLF Series 2013-3⁽⁵⁾	1.55%	Floating	1/2017–5/2017	96	270
HFLF Series 2014-1⁽⁵⁾	1.32%	Floating	1/2017–12/2017	148	288
HFLF Series 2015-1⁽⁵⁾	1.31%	Floating	1/2017–11/2019	248	295
HFLF Series 2016-1⁽⁵⁾	1.92%	Floating	6/2017–4/2019	385	—
				877	853
Other Vehicle Debt
U.S. Vehicle RCF⁽³⁾	3.11%	Floating	6/2021	193	—
U.S. Vehicle Financing Facility	N/A	N/A	N/A	—	190
European Revolving Credit Facility	2.38%	Floating	10/2017	147	273
European Vehicle Notes⁽⁴⁾	4.29%	Fixed	1/2019–10/2021	677	464
European Securitization⁽²⁾	1.55%	Floating	10/2018	312	267
Canadian Securitization⁽²⁾	1.92%	Floating	1/2018	162	148
Australian Securitization⁽²⁾	3.14%	Floating	7/2018	117	98
Brazilian Vehicle Financing Facility	N/A	N/A	N/A	—	7
New Zealand RCF	4.31%	Floating	9/2018	41	—
Capitalized Leases	2.50%	Floating	1/2017–9/2020	244	362
				1,893	1,809



Facility	Weighted Average Interest Rate at December 31, 2016	Fixed or Floating Interest Rate	Maturity	December 31, 2016			December 31, 2015
Unamortized Debt Issuance Costs and Net (Discount) Premium				(39		)	(34		)
Total Vehicle Debt				9,646			9,823
Total Debt				$	13,541		$	15,770

N/A - Not Applicable


(1)	References to the "Senior Notes" include the series of Hertz's unsecured senior notes set forth on the table below. Outstanding principal amounts for each such series of the Senior Notes is also specified below:



(In millions)	Outstanding Principal
Senior Notes	December 31, 2016		December 31, 2015
4.25% Senior Notes due April 2018	$	250	$	250
7.50% Senior Notes due October 2018	—		700
6.75% Senior Notes due April 2019	450		1,250
5.875% Senior Notes due October 2020	700		700
7.375% Senior Notes due January 2021	500		500
6.25% Senior Notes due October 2022	500		500
5.50% Senior Notes due October 2024	800		—
	$	3,200	$	3,900


(2)	Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal final maturity date." The expected final maturity date is the date by which Hertz and investors in the relevant indebtedness expect the relevant indebtedness to be repaid. The legal final maturity date is the date on which the relevant indebtedness is legally due and payable.


(3)	Approximately $67 million of the aggregate maximum borrowing capacity under the U.S. Vehicle RCF is scheduled to expire in January 2018.


(4)	References to the "European Vehicle Notes" include the series of HHN BV's (as defined below) unsecured senior notes (converted from Euros to U.S. dollars at a rate of 1.04 to 1) set forth on the table below. Outstanding principal amounts for each such series of the European Vehicle Notes is also specified below:



(In millions)	Outstanding Principal
European Vehicles Notes	December 31, 2016		December 31, 2015
4.375% Senior Notes due January 2019	$	443	$	464
4.125% Senior Notes due October 2021	234		—
	$	677	$	464

(5)

The fair value of debt is estimated based on quoted market rates as well as borrowing rates currently available to the Company for loans with similar terms and average maturities (Level 2 inputs).



	As of December 31, 2016				As of December 31, 2015
(In millions)	Nominal Unpaid Principal Balance		Aggregate Fair Value		Nominal Unpaid Principal Balance		Aggregate Fair Value
Non-vehicle Debt	$	3,934	$	3,791	$	5,991	$	6,070
Vehicle Debt	9,685		9,670		9,857		9,854
Total	$	13,619	$	13,461	$	15,848	$	15,924

Assets and Liabilities Measure on a Non-Recurring Basis

Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis



(In millions)	Fair Value		Level 1		Level 2		Level 3		Total Loss Adjustments Recorded for the Year Ended December 31, 2016
Long-lived assets held and used	$	4	$	—	$	—	$	4	$	25
Long-lived assets held for sale	$	111	$	—	$	111	$	—	$	18
Liabilities held for sale	$	17	$	—	$	17	$	—	$	—

Accumulated Other Comprehensive Income (Loss) (Tables)

12 Months Ended

Dec. 31, 2016

Accumulated Other Comprehensive Income [Abstract]

Schedule of Accumulated Other Comprehensive Income (Loss)

Changes in the accumulated other comprehensive income (loss) balance by component (net of tax) are as follows:



(In millions)	Pension and Other Post-Employment Benefits			Foreign Currency Items			Unrealized Losses on Terminated Net Investment Hedges			Realized/Unrealized Gains on Available for Sale Securities			Accumulated Other Comprehensive Income (Loss)
Balance as of January 1, 2016	$	(102	)	$	(124	)	$	(19	)	$	—		$	(245	)
Other comprehensive income (loss) before reclassification	(23		)	(16		)	—			12			(27		)
Amounts reclassified from accumulated other comprehensive income (loss)	7			—			—			(9		)	(2		)
Distribution of discontinued entities	8			95			—			—			103
Balance as of December 31, 2016	$	(110	)	$	(45	)	$	(19	)	$	3		$	(171	)



(In millions)	Pension and Other Post-Employment Benefits			Foreign Currency Items			Unrealized Losses on Terminated Net Investment Hedges			Accumulated Other Comprehensive Income (Loss)
Balance as of January 1, 2015	$	(101	)	$	5		$	(19	)	$	(115	)
Other comprehensive income (loss) before reclassification	(8		)	(87		)	—			(95		)
Amounts reclassified from accumulated other comprehensive income (loss)	7			(42		)	—			(35		)
Balance as of December 31, 2015	$	(102	)	$	(124	)	$	(19	)	$	(245	)

Equity and Earnings (Loss) Per Share - Hertz Global (Tables)

12 Months Ended

Dec. 31, 2016

Earnings Per Share [Abstract]

Computation of basic and diluted earnings (loss) per share

The following table sets forth the computation of basic and diluted earnings (loss) per share:



	Years Ended December 31,
(In millions, except per share data)	2016			2015		2014
Basic and diluted earnings per share:
Numerator:
Net income (loss) from continuing operations	$	(474	)	$	115	$	(214	)
Net income (loss) from discontinued operations	(17		)	158		132
Net income (loss), basic	$	(491	)	$	273	$	(82	)
Denominator:
Basic weighted average common shares	84			90		91
Dilutive stock options, RSUs and PSUs	—			1		—
Weighted average shares used to calculate diluted earnings per share	84			91		91
Antidilutive stock options, RSUs, PSUs and conversion shares	1			1		2
Earnings (loss) per share:
Basic earnings (loss) per share from continuing operations	$	(5.65	)	$	1.28	$	(2.35	)
Basic earnings (loss) per share from discontinued operations	(0.20		)	1.75		1.45
Basic earnings (loss) per share	$	(5.85	)	$	3.03	$	(0.90	)

Diluted earnings (loss) per share from continuing operations	$	(5.65	)	$	1.26	$	(2.35	)
Diluted earnings (loss) per share from discontinued operations	(0.20		)	1.74		1.45
Diluted earnings (loss) per share	$	(5.85	)	$	3.00	$	(0.90	)

Segment Information (Tables)

12 Months Ended

Dec. 31, 2016

Segment Reporting [Abstract]

Summary of contribution of reportable segments to revenues and adjusted pre-tax income and the reconciliation to consolidated amounts

The operations within major geographic areas for each of Hertz Global and Hertz are summarized below:



	Years Ended December 31,
(In millions)	2016		2015		2014
Revenues
United States	$	6,690	$	6,845	$	7,008
International	2,113		2,172		2,467
Total Hertz Global and Hertz	$	8,803	$	9,017	$	9,475



	As of December 31,
(In millions)	2016		2015
Revenue earning vehicles, net, at end of year
United States	$	9,035	$	8,857
International	1,783		1,889
Total Hertz Global and Hertz	$	10,818	$	10,746
Property and equipment, net, at end of year
United States	$	748	$	842
International	110		135
Total Hertz Global and Hertz	$	858	$	977
Total assets at end of year - Hertz Global
United States	$	15,434	$	16,474
International	3,721		3,645
Discontinued Operations	—		$	3,395
Total Hertz Global	$	19,155	$	23,514
Total assets at end of year - Hertz
United States	$	15,434	$	16,474
International	3,721		3,645
Discontinued Operations	$	—	$	3,390
Total Hertz	$	19,155	$	23,509


(a)	Adjusted pre-tax income (loss) is calculated as income (loss) from continuing operations before income taxes plus non-cash acquisition accounting charges, debt-related charges relating to the amortization and write-off of debt financing costs and debt discounts, goodwill, intangible and tangible asset impairments and write-downs and certain one-time charges and non-operational items.

Hertz Global



	Years Ended December 31,
(In millions)	2016			2015			2014
Adjusted pre-tax income (loss):
U.S. Rental Car	$	298		$	551		$	387
International Rental Car	194			215			144
All Other Operations	72			68			62
Total reportable segments	564			834			593
Corporate ⁽¹⁾	(499		)	(509		)	(500		)
Adjusted pre-tax income (loss)	65			325			93
Adjustments:
Acquisition accounting⁽²⁾	(65		)	(87		)	(94		)
Debt-related charges⁽³⁾	(48		)	(58		)	(46		)
Restructuring and restructuring related charges⁽⁴⁾	(53		)	(84		)	(151		)
Loss on extinguishment of debt⁽⁵⁾	(55		)	—			(1		)
Sale of CAR Inc. common stock⁽⁶⁾	84			133			—
Impairment charges and asset write-downs⁽⁷⁾	(340		)	(57		)	(24		)
Finance and information technology transformation costs⁽⁸⁾	(53		)	—			—
Other⁽⁹⁾	(5		)	(40		)	(8		)
Income (loss) before income taxes	$	(470	)	$	132		$	(231	)

Hertz



	Years Ended December 31,
(In millions)	2016			2015			2014
Adjusted pre-tax income (loss):
U.S. Rental Car	$	298		$	551		$	387
International Rental Car	194			215			144
All Other Operations	72			68			62
Total reportable segments	564			834			593
Corporate⁽¹⁾	(498		)	(509		)	(500		)
Adjusted pre-tax income (loss)	66			325			93
Adjustments:
Acquisition accounting⁽²⁾	(65		)	(87		)	(94		)
Debt-related charges⁽³⁾	(48		)	(58		)	(46		)
Restructuring and restructuring related charges⁽⁴⁾	(53		)	(84		)	(151		)
Loss on extinguishment of debt⁽⁵⁾	(55		)	—			(1		)
Sale of CAR Inc. common stock⁽⁶⁾	84			133			—
Impairment charges and asset write-downs⁽⁷⁾	(340		)	(57		)	(24		)
Finance and information technology transformation costs⁽⁸⁾	(53		)	—			—
Other⁽⁹⁾	(5		)	(40		)	(8		)
Income (loss) before income taxes	$	(469	)	$	132		$	(231	)


(1)	Represents general corporate expenses, non-vehicle interest expense, as well as other business activities.


(2)	Represents incremental expense associated with amortization of other intangible assets and depreciation of property and equipment relating to acquisition accounting.


(3)	Represents debt-related charges relating to the amortization of deferred financing costs and debt discounts and premiums.

(4)

(5)


(6)	Represents the pre-tax gain on the sale of CAR Inc. common stock.

(7)


(8)	Represents external costs associated with the Company's finance and information technology transformation programs, both of which are multi-year initiatives that commenced in 2016 to upgrade and modernize the Company's systems and processes.

(9)



	Years Ended December 31,
(In millions)	2016			2015			2014
Revenues
U.S. Rental Car	$	6,114		$	6,286		$	6,471
International Rental Car	2,097			2,148			2,436
All other operations	592			583			568
Total Hertz Global and Hertz	$	8,803		$	9,017		$	9,475
Adjusted pre-tax income^(a)
U.S. Rental Car	$	298		$	551		$	387
International Rental Car	194			215			144
All other operations	72			68			62
Corporate	(499		)	(509		)	(500		)
Total Hertz Global	65			325			93
Corporate - Hertz	1			—			—
Total Hertz	$	66		$	325		$	93
Depreciation of revenue earning vehicles and lease charges, net
U.S. Rental Car	$	1,753		$	1,572		$	1,758
International Rental Car	389			398			492
All other operations	459			463			455
Total Hertz Global and Hertz	$	2,601		$	2,433		$	2,705
Depreciation and amortization, non-vehicle assets
U.S. Rental Car	$	198		$	209		$	222
International Rental Car	33			37			41
All other operations	11			10			11
Corporate	23			18			17
Total Hertz Global and Hertz	$	265		$	274		$	291
Interest expense, net
U.S. Rental Car	$	154		$	165		$	172
International Rental Car	66			70			95
All other operations	14			10			12
Corporate	390			354			338
Total Hertz Global	624			599			617
Corporate - Hertz	(1		)	—			—
Total - Hertz	$	623		$	599		$	617



	As of December 31,
(In millions)	2016		2015
Revenue earning vehicles, net, at end of year
U.S. Rental Car	$	7,716	$	7,600
International Rental Car	1,755		1,858
All other operations	1,347		1,288
Total Hertz Global and Hertz	$	10,818	$	10,746
Property and equipment, net, at end of year
U.S. Rental Car	$	621	$	718
International Rental Car	110		135
All other operations	13		5
Corporate	114		119
Total Hertz Global and Hertz	$	858	$	977
Total assets at end of year - Hertz Global
U.S. Rental Car	$	12,876	$	13,614
International Rental Car	3,578		3,002
All other operations	1,612		1,520
Corporate	1,089		1,983
Assets of discontinued operations	—		3,395
Total Hertz Global	$	19,155	$	23,514
Total assets at end of year - Hertz
U.S. Rental Car	$	12,876	$	13,614
International Rental Car	3,578		3,002
All other operations	1,612		1,520
Corporate	1,089		1,983
Assets of discontinued operations	—		3,390
Total Hertz	$	19,155	$	23,509



	Years Ended December 31,
(In millions)	2016			2015			2014
Revenue earning vehicles and capital assets, non-vehicle
U.S. Rental Car:
Expenditures	$	(7,376	)	$	(7,930	)	$	(6,175	)
Proceeds from disposals	6,010			6,280			4,530
Net expenditures - Hertz Global and Hertz	$	(1,366	)	$	(1,650	)	$	(1,645	)
International Rental Car:
Expenditures	$	(2,953	)	$	(2,887	)	$	(3,165	)
Proceeds from disposals	2,589			2,412			2,531
Net expenditures - Hertz Global and Hertz	$	(364	)	$	(475	)	$	(634	)
All other operations:
Expenditures	$	(729	)	$	(718	)	$	(751	)
Proceeds from disposals	209			162			150
Net expenditures - Hertz Global and Hertz	$	(520	)	$	(556	)	$	(601	)
Corporate:
Expenditures	$	(33	)	$	(101	)	$	(54	)
Proceeds from disposals	15			49			34
Net expenditures - Hertz Global and Hertz	$	(18	)	$	(52	)	$	(20	)

Guarantor and Non-Guarantor Annual Condensed Consolidating Financial Information (Tables)

12 Months Ended

Dec. 31, 2016

Guarantor and Non-Guarantor Condensed Consolidating Financial Statements Disclosure [Abstract]

Condensed Balance Sheet

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2016

(In millions)



	Parent (The Hertz Corporation)		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			The Hertz Corporation & Subsidiaries
ASSETS
Cash and cash equivalents	$	458	$	12	$	346	$	—		$	816
Restricted cash and cash equivalents	53		5		220		—			278
Receivables, net of allowance	752		167		364		—			1,283
Due from affiliates	3,668		4,738		9,750		(18,156		)	—
Prepaid expenses and other assets	5,736		83		199		(5,440		)	578
Revenue earning vehicles, net	361		7		10,450		—			10,818
Property and equipment, net	656		70		132		—			858
Investment in subsidiaries, net	6,114		598		—		(6,712		)	—
Other intangible assets, net	89		3,223		20		—			3,332
Goodwill	102		943		36		—			1,081
Assets held for sale	—		—		111		—			111
Total assets	$	17,989	$	9,846	$	21,628	$	(30,308	)	$	19,155
LIABILITIES AND EQUITY
Due to affiliates	$	11,748	$	1,900	$	4,508	$	(18,156	)	$	—
Accounts payable	279		90		452		—			821
Accrued liabilities	557		103		320		—			980
Accrued taxes, net	78		18		2,881		(2,812		)	165
Debt	4,086		—		9,455		—			13,541
Public liability and property damage	166		43		198		—			407
Deferred income taxes, net	—		2,980		1,797		(2,628		)	2,149
Liabilities held for sale	—		—		17		—			17
Total liabilities	16,914		5,134		19,628		(23,596		)	18,080
Equity:
Stockholder's equity	1,075		4,712		2,000		(6,712		)	1,075
Total liabilities and equity	$	17,989	$	9,846	$	21,628	$	(30,308	)	$	19,155

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2015

(In millions)



	Parent (The Hertz Corporation)		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			The Hertz Corporation & Subsidiaries
ASSETS
Cash and cash equivalents	$	179	$	17	$	278	$	—		$	474
Restricted cash and cash equivalents	57		3		273		—			333
Receivables, net of allowance	399		183		1,204		—			1,786
Due from affiliates	4,158		3,238		7,543		(14,939		)	—
Prepaid expenses and other assets	4,518		698		461		(4,682		)	995
Revenue earning vehicles, net	388		6		10,352		—			10,746
Property and equipment, net	752		74		151		—			977
Investment in subsidiaries, net	7,457		1,614		—		(9,071		)	—
Other intangible assets, net	142		3,350		30		—			3,522
Goodwill	102		942		217		—			1,261
Assets held for sale	25		—		—		—			25
Assets of discontinued operations	—		2,989		401		—			3,390
Total assets	$	18,177	$	13,114	$	20,910	$	(28,692	)	$	23,509
LIABILITIES AND EQUITY
Due to affiliates	$	8,888	$	1,465	$	3,961	$	(14,314	)	$	—
Accounts payable	262		81		423		—			766
Accrued liabilities	584		114		337		—			1,035
Accrued taxes, net	223		19		2,849		(2,963		)	128
Debt	6,126		—		9,644		—			15,770
Public liability and property damage	146		48		200		—			394
Deferred income taxes, net	—		2,005		1,882		(1,719		)	2,168
Liabilities of discontinued operations	—		1,915		9		(624		)	1,300
Total liabilities	16,229		5,647		19,305		(19,620		)	21,561
Equity:
Stockholder's equity	1,948		7,467		1,605		(9,072		)	1,948
Total liabilities and equity	$	18,177	$	13,114	$	20,910	$	(28,692	)	$	23,509

Condensed Income Statement

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Year Ended December 31, 2016

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	4,604		$	1,483		$	6,022		$	(3,306	)	$	8,803
Expenses:
Direct vehicle and operating	2,909			761			1,263			(1		)	4,932
Depreciation of revenue earning vehicles and lease charges, net	2,766			685			2,453			(3,303		)	2,601
Selling, general and administrative	602			51			248			(2		)	899
Interest expense, net	407			(58		)	274			—			623
Goodwill and intangible asset impairments	—			120			172			—			292
Other (income) expense, net	6			(10		)	(71		)	—			(75		)
Total expenses	6,690			1,549			4,339			(3,306		)	9,272
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(2,086		)	(66		)	1,683			—			(469		)
Income tax (provision) benefit	682			(26		)	(660		)	—			(4		)
Equity in earnings (losses) of subsidiaries, net of tax	916			266			—			(1,182		)	—
Net income (loss) from continuing operations	$	(488	)	$	174		$	1,023		$	(1,182	)	$	(473	)
Net income (loss) from discontinued operations	—			(5		)	(10		)	—			(15		)
Net income (loss)	(488		)	169			1,013			(1,182		)	(488		)
Other comprehensive income (loss), net of tax	(29		)	7			(47		)	40			(29		)
Comprehensive income (loss)	$	(517	)	$	176		$	966		$	(1,142	)	$	(517	)

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Year Ended December 31, 2015

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	4,618		$	1,567		$	5,432		$	(2,600	)	$	9,017
Expenses:
Direct vehicle and operating	2,895			856			1,306			(2		)	5,055
Depreciation of revenue earning vehicles and lease charges, net	1,951			665			2,414			(2,597		)	2,433
Selling, general and administrative	527			69			278			(1		)	873
Interest expense, net	389			(29		)	239			—			599
Goodwill and intangible asset impairments	40			—			—			—			40
Other (income) expense, net	—			(2		)	(113		)	—			(115		)
Total expenses	5,802			1,559			4,124			(2,600		)	8,885
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(1,184		)	8			1,308			—			132
Income tax (provision) benefit	262			35			(314		)	—			(17		)
Equity in earnings (losses) of subsidiaries, net of tax	1,198			193			—			(1,391		)	—
Net income (loss) from continuing operations	276			236			994			(1,391		)	115
Net income (loss) from discontinued operations	—			162			67			(68		)	161
Net income (loss)	276			398			1,061			(1,459		)	276
Other comprehensive income (loss), net of tax	(130		)	(4		)	(114		)	118			(130		)
Comprehensive income (loss)	$	146		$	394		$	947		$	(1,341	)	$	146

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Year Ended December 31, 2014

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	4,703		$	1,650		$	6,179		$	(3,057	)	$	9,475
Expenses:
Direct vehicle and operating	2,995			907			1,558			(2		)	5,458
Depreciation of revenue earning vehicles and lease charges, net	2,510			513			2,733			(3,051		)	2,705
Selling, general and administrative	536			89			315			(4		)	936
Interest expense, net	382			(17		)	252			—			617
Other (income) expense, net	(22		)	(4		)	16			—			(10		)
Total expenses	6,401			1,488			4,874			(3,057		)	9,706
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(1,698		)	162			1,305			—			(231		)
Income tax (provision) benefit	631			(99		)	(515		)	—			17
Equity in earnings (losses) of subsidiaries, net of tax	989			77			—			(1,066		)	—
Net income (loss) from continuing operations	(78		)	140			790			(1,066		)	(214		)
Net income (loss) from discontinued operations	—			136			37			(37		)	136
Net income (loss)	(78		)	276			827			(1,103		)	(78		)
Other comprehensive income (loss), net of tax	(121		)	(6		)	(112		)	118			(121		)
Comprehensive income (loss)	$	(199	)	$	270		$	715		$	(985	)	$	(199	)

Condensed Cash Flow Statement

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2016

(In millions)



	Parent (The Hertz Corporation)				Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Net cash provided by (used in) operating activities from continuing operations	$	(1,892	)		$	85		$	5,151		$	(814	)	$	2,530
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	4				(3		)	52			—			53
Net change in restricted cash and cash equivalents, non-vehicle	—				—			(1		)	—			(1		)
Revenue earning vehicles expenditures	(342		)		(69		)	(10,546		)	—			(10,957		)
Proceeds from disposal of revenue earning vehicles	417				—			8,347			—			8,764
Capital asset expenditures, non-vehicle	(80		)		(16		)	(38		)	—			(134		)
Proceeds from disposal of property and other equipment	35				1			23			—			59
Capital contributions to subsidiaries	(2,632		)	—	—			—			2,632			—
Return of capital from subsidiaries	3,849				—			—			(3,849		)	—
Loan to Parent/Guarantor from Non-Guarantor	—				—			(1,055		)	1,055			—
Acquisitions, net of cash acquired	—				—			(2		)	—			(2		)
Sales of (investment in) shares in equity investment	(45		)		—			267			—			222
Net cash provided by (used in) investing activities	1,206				(87		)	(2,953		)	(162		)	(1,996		)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	716				—			8,976			—			9,692
Repayments of vehicle debt	(707		)		—			(9,041		)	—			(9,748		)
Proceeds from issuance of non-vehicle debt	2,592				—			—			—			2,592
Repayments of non-vehicle debt	(4,651		)		—			—			—			(4,651		)
Payment of financing costs	(46		)		(3		)	(26		)	—			(75		)
Early redemption premium payment	(27		)		—			—			—			(27		)
Transfers (to) from discontinued entities	2,122				—			—			—			2,122
Capital contributions received from parent	—				—			2,632			(2,632		)	—
Loan to Parent/Guarantor from Non-Guarantor	1,055				—			—			(1,055		)	—
Payment of dividends and return of capital	—				—			(4,663		)	4,663			—
Advances to Hertz Global/Old Hertz Holdings	(102		)		—			—			—			(102		)
Other	13				—			—			—			13
Net cash provided by (used in) financing activities	965				(3		)	(2,122		)	976			(184		)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	—				—			(8		)	—			(8		)
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	279				(5		)	68			—			342
Cash and cash equivalents at beginning of period	179				17			278			—			474
Cash and cash equivalents at end of period	$	458			$	12		$	346		$	—		$	816

Cash flows from discontinued operations:
Cash flows provided by (used in) operating activities	$	—			$	59		$	148		$	—		$	207
Cash flows provided by (used in) investing activities	—				(75		)	(2		)	—			(77		)
Cash flows provided by (used in) financing activities	—				44			(138		)	—			(94		)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	$	—			$	28		$	8		$	—		$	36

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2015

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Net cash provided by (used in) operating activities from continuing operations	$	(1,390	)	$	(206	)	$	4,896		$	(524	)	$	2,776
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	25			1			195			—			221
Net change in restricted cash and cash equivalents, non-vehicle	—			3			(12		)	—			(9		)
Revenue earning vehicles expenditures	(434		)	(93		)	(10,859		)	—			(11,386		)
Proceeds from disposal of revenue earning vehicles	303			41			8,452			—			8,796
Capital asset expenditures, non-vehicle	(154		)	(6		)	(90		)	—			(250		)
Proceeds from disposal of property and other equipment	53			11			43			—			107
Capital contributions to subsidiaries	(2,650		)	(181		)	—			2,831			—
Return of capital from subsidiaries	4,634			443			—			(5,077		)	—
Acquisitions, net of cash acquired	(17		)	(3		)	(75		)	—			(95		)
Loan to Parent/Guarantor from Non-Guarantor	—			—			(737		)	737			—
Sales of (investment in) shares in equity investment	—			—			236			—			236
Advances to Old Hertz Holdings	(267		)	—			—			—			(267		)
Net cash provided by (used in) investing activities	1,493			216			(2,847		)	(1,509		)	(2,647		)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	25			—			7,503			—			7,528
Repayments of vehicle debt	—			—			(7,079		)	—			(7,079		)
Proceeds from issuance of non-vehicle debt	1,867			—			—			—			1,867
Repayments of non-vehicle debt	(2,112		)	—			—			—			(2,112		)
Capital contributions received from parent	—			—			2,831			(2,831		)	—
Loan to Parent/Guarantor from Non-Guarantor	737			—			—			(737		)	—
Payment of dividends and return of capital	—			—			(5,601		)	5,601			—
Payment of financing costs	(4		)	(3		)	(22		)	—			(29		)
Transfers (to) from discontinued entities	(95		)	—			163			—			68
Advances to Hertz Global/Old Hertz Holdings	(344		)	—			—			—			(344		)
Net cash provided by (used in) financing activities	74			(3		)	(2,205		)	2,033			(101		)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	—			—			(28		)	—			(28		)
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	177			7			(184		)	—			—
Cash and cash equivalents at beginning of period	2			10			462			—			474
Cash and cash equivalents at end of period	$	179		$	17		$	278		$	—		$	474

Cash flows from discontinued operations:
Cash flows provided by (used in) operating activities	—			356			200			—			556
Cash flows provided by (used in) investing activities	—			(447		)	62			—			(385		)
Cash flows provided by (used in) financing activities	—			87			(266		)	—			(179		)
Effect of foreign currency exchange rate changes on cash and cash equivalents	—			—			(3		)	—			(3		)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	$	—		$	(4	)	$	(7	)	$	—		$	(11	)

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Year Ended December 31, 2014

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Net cash provided by (used in) operating activities from continuing operations	$	(464	)	$	151		$	4,291		$	(1,037	)	$	2,941
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	(27		)	11			265			—			249
Revenue earning vehicles expenditures	(243		)	(129		)	(9,442		)	—			(9,814		)
Proceeds from disposal of revenue earning vehicles	183			107			6,877			—			7,167
Capital asset expenditures, non-vehicle	(195		)	(29		)	(107		)	—			(331		)
Proceeds from disposal of property and other equipment	43			4			31			—			78
Capital contributions to subsidiaries	(1,614		)	(37		)	—			1,651			—
Return of capital from subsidiaries	1,722			—			—			(1,722		)	—
Acquisitions, net of cash acquired	—			(28		)	(47		)	—			(75		)
Loan to Parent/Guarantor from Non-Guarantor	—			(43		)	(437		)	480			—
Sales of (investment in) shares in equity investment	—			—			(30		)	—			(30		)
Advances to Old Hertz Holdings	(28		)	—			—			—			(28		)
Repayments from Old Hertz Holdings	25			—			—			—			25
Net cash provided by (used in) investing activities	(134		)	(144		)	(2,890		)	409			(2,759		)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	27			—			4,383			—			4,410
Repayments of vehicle debt	(16		)	—			(4,507		)	—			(4,523		)
Proceeds from issuance of non-vehicle debt	2,480			—			—			—			2,480
Repayments of non-vehicle debt	(2,457		)	—			—			—			(2,457		)
Capital contributions received from parent	—			—			1,651			(1,651		)	—
Loan to Parent/Guarantor from Non-Guarantor	437			—			43			(480		)	—
Payment of dividends and return of capital	—			—			(2,759		)	2,759			—
Payment of financing costs	(12		)	(3		)	(48		)	—			(63		)
Transfer (to) from discontinued entities	77			—			—			—			77
Other	2			—			—			—			2
Net cash provided by (used in) financing activities	538			(3		)	(1,237		)	628			(74		)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	—			—			(30		)	—			(30		)
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	(60		)	4			134			—			78
Cash and cash equivalents at beginning of period	62			6			328			—			396
Cash and cash equivalents at end of period	$	2		$	10		$	462		$	—		$	474

Cash flows from discontinued operations:
Cash flows provided by (used in) operating activities	—			382			134			—			516
Cash flows provided by (used in) investing activities	—			(291		)	(136		)	—			(427		)
Cash flows provided by (used in) financing activities	—			(87		)	—			—			(87		)
Effect of foreign currency exchange rate changes on cash and cash equivalents	—			—			(1		)	—			(1		)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	$	—		$	4		$	(3	)	$	—		$	1

Quarterly Financial Information (Unaudited) (Tables)

12 Months Ended

Dec. 31, 2016

Quarterly Financial Information Disclosure [Abstract]

Schedule of Quarterly Operating Results

Hertz Global



	First Quarter			Second Quarter			Third Quarter		Fourth Quarter
(In millions, except per share data)	2016			2016			2016		2016 ⁽¹⁾
Revenues from continuing operations	$	1,983		$	2,270		$	2,542	$	2,009
Income (loss) from continuing operations before income taxes	(76		)	(35		)	108		(466		)
Net income (loss) from continuing operations	(52		)	(28		)	44		(438		)
Earnings (loss) per share from continuing operations:
Basic	(0.61		)	(0.33		)	0.52		(5.28		)
Diluted	(0.61		)	(0.33		)	0.52		(5.28		)



	First Quarter			Second Quarter		Third Quarter		Fourth Quarter
(In millions, except per share data)	2015			2015		2015		2015
Revenues from continuing operations	$	2,098		$	2,317	$	2,575	$	2,027
Income (loss) from continuing operations before income taxes	(109		)	38		256		(52		)
Net income (loss) from continuing operations	(78		)	13		217		(37		)
Earnings (loss) per share from continuing operations:
Basic	(0.85		)	0.14		2.38		(0.43		)
Diluted	(0.85		)	0.14		2.38		(0.43		)

Hertz



	First Quarter			Second Quarter			Third Quarter		Fourth Quarter
(In millions)	2016			2016			2016		2016 ⁽¹⁾
Revenues from continuing operations	$	1,983		$	2,270		$	2,542	$	2,009
Income (loss) from continuing operations before income taxes	(76		)	(35		)	108		(465		)
Net income (loss) from continuing operations	(52		)	(28		)	44		(437		)



	First Quarter			Second Quarter		Third Quarter		Fourth Quarter
(In millions)	2015			2015		2015		2015
Revenues from continuing operations	$	2,098		$	2,317	$	2,575	$	2,027
Income (loss) from continuing operations before income taxes	(109		)	38		256		(52		)
Net income (loss) from continuing operations	(78		)	13		217		(37		)

Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net cash provided by (used in) investing activities	$ (1,996)	$ (2,380)	$ (2,756)
Maturity period for highly liquid investments to be classified as cash and cash equivalents	3 months
Advertising expense	$ 159	$ 167	$ 196
Operating locations, land ownership (percent)	3.00%
Minimum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Long-lived assets useful life	1 year
Finite-lived intangible assets, useful life	2 years
Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Long-lived assets useful life	50 years
Finite-lived intangible assets, useful life	15 years
Prepaid expenses and other assets \| Accounting Standards Update 2015-03 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred Finance Costs, Net	$ 73

Significant Accounting Policies (Share-Based Compensation) (Details)	12 Months Ended
	Dec. 31, 2016
Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	2 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award requisite service period	4 years

Significant Accounting Policies (Useful Lives) (Details)	12 Months Ended
	Dec. 31, 2016
Minimum
Property, Plant and Equipment [Line Items]
Useful life	1 year
Maximum
Property, Plant and Equipment [Line Items]
Useful life	50 years
Buildings \| Minimum
Property, Plant and Equipment [Line Items]
Useful life
Buildings \| Maximum
Property, Plant and Equipment [Line Items]
Useful life
Furniture and fixtures \| Minimum
Property, Plant and Equipment [Line Items]
Useful life
Furniture and fixtures \| Maximum
Property, Plant and Equipment [Line Items]
Useful life
Service cars and service equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life
Service cars and service equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life

Discontinued Operations (Results of Discontinued Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) from discontinued operations	$ (17)	$ 158	$ 132
The Hertz Corporation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) from discontinued operations	(15)	161	136
Discontinued Operations \| Old Hertz Holdings' Worldwide Equipment Rental
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenues	677	1,518	1,571
Direct operating expenses	366	841	856
Depreciation of revenue earning equipment and lease charges, net	181	329	329
Selling, general and administrative	123	172	152
Interest expense, net	17	23	31
Other (income) expense, net	(1)	(56)	(5)
Income (loss) from discontinued operations before income taxes	(9)	209	208
(Provision) benefit for taxes on discontinued operations	(8)	(51)	(76)
Net income (loss) from discontinued operations	(17)	158	132
Discontinued Operations \| Old Hertz Holdings' Worldwide Equipment Rental \| Senior ABL Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest expense, net	5	13	14
Discontinued Operations \| The Hertz Corporation \| Old Hertz Holdings' Worldwide Equipment Rental
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenues	677	1,518	1,571
Direct operating expenses	366	841	856
Depreciation of revenue earning equipment and lease charges, net	181	329	329
Selling, general and administrative	124	172	152
Interest expense, net	13	20	24
Other (income) expense, net	(1)	(56)	(5)
Income (loss) from discontinued operations before income taxes	(6)	212	215
(Provision) benefit for taxes on discontinued operations	(9)	(51)	(79)
Net income (loss) from discontinued operations	(15)	$ 161	$ 136
HERC \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from related parties	$ 2,000

Discontinued Operations (Assets and Liabilities of Discontinued Operations) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
ASSETS
Total assets of discontinued operations	$ 0	$ 3,395
LIABILITIES
Total liabilities of discontinued operations	0	1,234
Distribution of Herc Holdings, Inc.	347
Accumulated Other Comprehensive Income (Loss)
LIABILITIES
Distribution of Herc Holdings, Inc.	(103)
Spinoff \| Restatement Adjustment
LIABILITIES
Reclassification adjustment to prepaid expenses and other assets		229
Old Hertz Holdings' Worldwide Equipment Rental \| Spinoff
ASSETS
Cash and cash equivalents		12
Restricted cash and cash equivalents		16
Receivables, net of allowance		288
Inventories, net		22
Prepaid expenses and other assets		36
Revenue earning equipment, net		2,382
Property and other equipment, net		246
Other intangible assets, net		300
Goodwill		93
Total assets of discontinued operations		3,395
LIABILITIES
Accounts payable		109
Accrued liabilities and other		71
Accrued taxes, net		273
Debt		64
Public liability and property damage		8
Deferred taxes on income, net		709
Total liabilities of discontinued operations		1,234
The Hertz Corporation
ASSETS
Total assets of discontinued operations	0	3,390
LIABILITIES
Total liabilities of discontinued operations	0	1,300
Distribution of Herc Holdings, Inc.	345
The Hertz Corporation \| Accumulated Other Comprehensive Income (Loss)
LIABILITIES
Distribution of Herc Holdings, Inc.	(103)
The Hertz Corporation \| Old Hertz Holdings' Worldwide Equipment Rental \| Spinoff
ASSETS
Cash and cash equivalents		5
Restricted cash and cash equivalents		16
Receivables, net of allowance		288
Inventories, net		22
Prepaid expenses and other assets		38
Revenue earning equipment, net		2,382
Property and other equipment, net		246
Other intangible assets, net		300
Goodwill		93
Total assets of discontinued operations		3,390
LIABILITIES
Accounts payable		109
Accrued liabilities and other		71
Accrued taxes, net		273
Debt		64
Public liability and property damage		8
Deferred taxes on income, net		775
Total liabilities of discontinued operations		$ 1,300
Hertz Global Holdings \| Spinoff
LIABILITIES
Distribution of Herc Holdings, Inc.	347
HERC \| Spinoff
LIABILITIES
Distribution of Herc Holdings, Inc.	$ 345

Acquisitions and Divestitures (Acquisition) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended
	Feb. 28, 2015	Jun. 30, 2016	Aug. 31, 2014
Acquisition
Equity method investment		$ 45
Certain Hertz Branded Franchises
Acquisition
Acquired assets	$ 87
Payments to acquire business	$ 87
Dollar Thrifty
Acquisition
Acquired assets			$ 62

Acquisitions and Divestitures (Assets Acquired Liabilities Assumed) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Feb. 28, 2015	Dec. 31, 2014	Aug. 31, 2014
Acquisition
Goodwill	$ 1,081	$ 1,261		$ 1,262
Certain Hertz Branded Franchises
Acquisition
Revenue earning equipment			$ 71
Property and other equipment			6
Other intangible assets			9
Goodwill			1
Total			$ 87
Dollar Thrifty
Acquisition
Revenue earning equipment					$ 43
Property and other equipment					1
Other intangible assets					7
Goodwill					11
Total					$ 62

Acquisitions and Divestitures (Divestitures) (Details) - USD ($) shares in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Dec. 31, 2016	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Reclassification of foreign currency items to other (income) expense, net			$ 0	$ (42)	$ 0
Assets held for sale	$ 111		111	25
Liabilities held for sale	$ 17		17	0
Impairment charges and asset write-downs			$ 340	$ 70	$ 37
CAR, Inc
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership percentage		1.70%			16.00%
Common Stock Shares \| CAR, Inc
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of shares issued in transaction	32	204	138
Sales of (investment in) shares in equity investment		$ 240
Net sales proceeds	$ 34	233	$ 236
Gain (loss) on disposal	9		133
Deferred gain on sale		7
Common Stock Shares \| CAR, Inc \| Other income (expense), net
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain (loss) on disposal		$ 75
Brazil Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration receivable from sale	105		105
Consideration receivable from sale, amounts to be placed in escrow	12		12
Equipment \| Direct vehicle and operating
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charges and asset write-downs			25
Held-for-sale \| Brazil Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents	1		1
Receivables, net	11		11
Prepaid expenses and other assets	5		5
Revenue earning vehicles, net	86		86
Property and equipment, net	1		1
Intangibles	1		1
Deferred income taxes, net	6		6
Assets held for sale	111		111
Accounts payable	11		11
Accrued liabilities	6		6
Liabilities held for sale	$ 17		17
Held-for-sale \| Equipment \| Direct vehicle and operating
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Impairment charges and asset write-downs			$ 18

Revenue Earning Vehicles (Components of Revenue Earning Vehicles) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Revenue earning vehicles	$ 13,287	$ 13,242
Less: Accumulated depreciation	(2,678)	(2,631)
Property Subject to or Available for Operating Lease, Excluding Assets Held for Sale	10,609	10,611
Revenue earning vehicles held for sale, net	209	135
Total revenue earning vehicles, net	10,818	10,746
Depreciation of revenue earning vehicles	2,359	2,272	$ 2,449
(Gain) loss on disposal of revenue earning equipment	172	89	176
Rents paid for vehicles leased	70	72	80
Depreciation of revenue earning vehicles and lease charges, net	2,601	2,433	2,705
U.S. Car Rental
Property, Plant and Equipment [Line Items]
(Gain) loss on disposal of revenue earning equipment	177	97	178
Costs of vehicle sales operations	(109)	(105)	(32)
International Car Rental
Property, Plant and Equipment [Line Items]
(Gain) loss on disposal of revenue earning equipment	$ (5)	$ (8)	$ (2)

Revenue Earning Vehicles (Deprecation Rates) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue earning equipment
Net increase (decrease) in depreciation expense	$ 145	$ 100	$ 164
U.S. Car Rental
Revenue earning equipment
Net increase (decrease) in depreciation expense	141	101	167
International Car Rental
Revenue earning equipment
Net increase (decrease) in depreciation expense	$ 4	$ (1)	$ (3)

Goodwill and Other Intangible Assets (Summary of changes in goodwill, by segment) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Goodwill
Balance at the beginning of the period, Goodwill		$ 1,307	$ 1,308
Accumulated impairment losses at the beginning of the period		(46)	(46)
Net goodwill, balance at the beginning of the period		1,261	1,262
Impairment losses during the period	$ 172	(172)
Goodwill acquired during the period			3
Other changes during the period		(8)	(4)
Total		(180)	(1)
Balance at the end of the period, Goodwill	1,299	1,299	1,307
Accumulated impairment losses at the end of the period	(218)	(218)	(46)
Net goodwill, balance at the end of the period	1,081	1,261	1,262
U.S. Car Rental
Goodwill
Balance at the beginning of the period, Goodwill		1,028	1,025
Accumulated impairment losses at the beginning of the period		0	0
Net goodwill, balance at the beginning of the period		1,028	1,025
Impairment losses during the period		0
Goodwill acquired during the period			3
Other changes during the period		0	0
Total		0	3
Balance at the end of the period, Goodwill	1,028	1,028	1,028
Accumulated impairment losses at the end of the period	0	0	0
Net goodwill, balance at the end of the period	1,028	1,028	1,025
International Car Rental
Goodwill
Balance at the beginning of the period, Goodwill		244	248
Accumulated impairment losses at the beginning of the period		(46)	(46)
Net goodwill, balance at the beginning of the period		198	202
Impairment losses during the period		(172)
Goodwill acquired during the period			0
Other changes during the period		(7)	(4)
Total		(179)	(4)
Balance at the end of the period, Goodwill	237	237	244
Accumulated impairment losses at the end of the period	(218)	(218)	(46)
Net goodwill, balance at the end of the period	19	198	202
All Other Operations
Goodwill
Balance at the beginning of the period, Goodwill		35	35
Accumulated impairment losses at the beginning of the period		0	0
Net goodwill, balance at the beginning of the period		35	35
Impairment losses during the period		0
Goodwill acquired during the period			0
Other changes during the period		(1)	0
Total		(1)	0
Balance at the end of the period, Goodwill	34	34	35
Accumulated impairment losses at the end of the period	0	0	0
Net goodwill, balance at the end of the period	$ 34	$ 35	$ 35

(Schedule of components of other intangible assets by major classes) (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended	12 Months Ended
	Oct. 31, 2015	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Disclosure of other intangible assets
Amortization of intangible assets			$ 98	$ 118	$ 120
Amortizable intangible assets:
Gross Carrying Amount		$ 1,117	1,117	1,108
Accumulated Amortization		(707)	(707)	(628)
Net Carrying Value		410	410	480
Indefinite-lived intangible assets:
Carrying Amount		2,922	2,922	3,042
Total Other intangible assets
Gross Carrying Amount		4,039	4,039	4,150
Accumulated Amortization		(707)	(707)	(628)
Net Carrying Value		3,332	3,332	3,522
Trade name
Disclosure of other intangible assets
Impairment of indefinite-lived intangible assets		120		40
Indefinite-lived intangible assets:
Carrying Amount		2,900	2,900	3,020
Other indefinite-lived intangible assets
Indefinite-lived intangible assets:
Carrying Amount		22	22	22
Customer-related
Amortizable intangible assets:
Gross Carrying Amount		333	333	333
Accumulated Amortization		(292)	(292)	(283)
Net Carrying Value		41	41	50
Total Other intangible assets
Accumulated Amortization		(292)	(292)	(283)
Concession rights
Amortizable intangible assets:
Gross Carrying Amount		408	408	411
Accumulated Amortization		(188)	(188)	(144)
Net Carrying Value		220	220	267
Total Other intangible assets
Accumulated Amortization		(188)	(188)	(144)
Technology-based intangibles
Amortizable intangible assets:
Gross Carrying Amount		294	294	283
Accumulated Amortization		(168)	(168)	(151)
Net Carrying Value		126	126	132
Total Other intangible assets
Accumulated Amortization		(168)	(168)	(151)
Other intangible assets
Amortizable intangible assets:
Gross Carrying Amount		82	82	81
Accumulated Amortization		(59)	(59)	(50)
Net Carrying Value		23	23	31
Total Other intangible assets
Accumulated Amortization		$ (59)	$ (59)	$ (50)
Trade name \| HERC
Disclosure of other intangible assets
Impairment of finite-lived intangible assets	$ 4

Goodwill and Other Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of other intangible assets	$ 98	$ 118	$ 120
Amortization Expense, Fiscal Year Maturity [Abstract]
Expected amortization expense in 2017	92
Expected amortization expense in 2018	83
Expected amortization expense in 2019	72
Expected amortization expense in 2020	67
Expected amortization expense in 2021	58
Expected amortization expense thereafter	$ 38

Debt (Details) $ in Millions	1 Months Ended
Debt (Details) $ in Millions	Jan. 31, 2018 USD ($)	Oct. 31, 2016 USD ($)	Jul. 31, 2016 USD ($)	Dec. 31, 2016 USD ($) € / $	Sep. 30, 2016	Jun. 30, 2016 USD ($)	Feb. 24, 2016 USD ($)	Dec. 31, 2015 USD ($)	Oct. 31, 2015 USD ($)	Sep. 30, 2015 CAD ($)	Jun. 15, 2015 USD ($)	Mar. 31, 2014 USD ($)	Nov. 30, 2013 USD ($)
Debt Instrument [Line Items]
Outstanding principal				$ 3,200,000,000				$ 3,900,000,000
Total debt				$ 13,541,000,000				15,770,000,000
Senior Loans
Debt Instrument [Line Items]
Average interest rate (as a percent)				3.50%
Outstanding principal				$ 697,000,000		$ 700,000,000		0
Corporate Debt
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs and Net (Discount) Premium				39,000,000				44,000,000
Total debt				3,895,000,000				5,947,000,000
Senior Term Facility
Debt Instrument [Line Items]
Outstanding principal				0				2,062,000,000
Senior ABL Facility
Debt Instrument [Line Items]
Outstanding principal				$ 0				0
Senior Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)				6.07%
Outstanding principal				$ 3,200,000,000				3,900,000,000
Promissory Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)				7.00%
Outstanding principal				$ 27,000,000				27,000,000
Other Corporate Debt
Debt Instrument [Line Items]
Average interest rate (as a percent)				2.03%
Outstanding principal				$ 10,000,000				2,000,000
Fleet Debt
Debt Instrument [Line Items]
Unamortized Debt Issuance Costs and Net (Discount) Premium				(39,000,000)				(34,000,000)
Total debt				9,646,000,000				9,823,000,000
U.S. Fleet Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal				$ 855,000,000				1,420,000,000
HVF Series 2010-1
Debt Instrument [Line Items]
Average interest rate (as a percent)				4.96%
Outstanding principal				$ 115,000,000				240,000,000
HVF Series 2011-1
Debt Instrument [Line Items]
Average interest rate (as a percent)				3.51%
Outstanding principal				$ 115,000,000				230,000,000
HVF Series 2013-1
Debt Instrument [Line Items]
Average interest rate (as a percent)				1.91%
Outstanding principal				$ 625,000,000				950,000,000
HVF II U.S. ABS Program
Debt Instrument [Line Items]
Outstanding principal				$ 2,470,000,000				4,025,000,000	$ 636,000,000
HVF II Series 2013-A, Class A
Debt Instrument [Line Items]
Average interest rate (as a percent)				1.68%
Outstanding principal				$ 1,844,000,000				980,000,000
HVF II Series 2013-B, Class A
Debt Instrument [Line Items]
Average interest rate (as a percent)				1.74%
Outstanding principal				$ 626,000,000				1,308,000,000
HVF II Series 2014-A, Class A
Debt Instrument [Line Items]
Outstanding principal				0				1,737,000,000
HVF II Us Fleet Variable Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal				$ 3,180,000,000				1,380,000,000
HVF II Series 2015-1
Debt Instrument [Line Items]
Average interest rate (as a percent)				2.93%
Outstanding principal				$ 780,000,000				780,000,000
HVF II Series 2015-2
Debt Instrument [Line Items]
Average interest rate (as a percent)				2.30%
Outstanding principal				$ 250,000,000				250,000,000
HVF II Series 2015-3
Debt Instrument [Line Items]
Average interest rate (as a percent)				2.96%
Outstanding principal				$ 350,000,000				350,000,000
HVF II Series 2016-1
Debt Instrument [Line Items]
Average interest rate (as a percent)				2.72%
Outstanding principal				$ 439,000,000				0
HVF II Series 2016-2
Debt Instrument [Line Items]
Average interest rate (as a percent)				3.25%
Outstanding principal				$ 561,000,000				0
HVF II Series 2016-3
Debt Instrument [Line Items]
Average interest rate (as a percent)				2.56%
Outstanding principal				$ 400,000,000				0
HVF II Series 2016-4
Debt Instrument [Line Items]
Average interest rate (as a percent)				2.91%
Outstanding principal				$ 400,000,000				0
Donlen ABS Program
Debt Instrument [Line Items]
Outstanding principal				$ 410,000,000				370,000,000
HFLF Series 2013-2 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)				1.77%
Outstanding principal				$ 410,000,000			$ 500,000,000	370,000,000
HFLF Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal				$ 877,000,000				853,000,000				$ 400,000,000	$ 500,000,000
HFLF Series 2013-A Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)				1.55%
Outstanding principal				$ 96,000,000				270,000,000
HFLF Series 2014-1 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)				1.32%
Outstanding principal				$ 148,000,000				288,000,000
HFLF Series 2015-1 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)				1.31%
Outstanding principal				$ 248,000,000				295,000,000			$ 300,000,000
HFLF Series 2016-1 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)				1.92%
Outstanding principal				$ 385,000,000				0
Other Fleet Debt
Debt Instrument [Line Items]
Outstanding principal				$ 1,893,000,000				1,809,000,000
U.S. Vehicle RCF
Debt Instrument [Line Items]
Average interest rate (as a percent)				3.11%
Outstanding principal				$ 193,000,000				0
U.S. Vehicle Financing Facility
Debt Instrument [Line Items]
Outstanding principal				$ 0				190,000,000
European Revolving Credit Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)				2.38%
Outstanding principal				$ 147,000,000				273,000,000
European Fleet Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)				4.29%
Outstanding principal				$ 677,000,000				464,000,000
Foreign currency exchange rate, translation \| € / $				1.04
4.375% Senior Notes due January 2019
Debt Instrument [Line Items]
Outstanding principal				$ 443,000,000				464,000,000
4.125% Senior Notes due October 2021
Debt Instrument [Line Items]
Outstanding principal				$ 234,000,000				0
European Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)				1.55%
Outstanding principal				$ 312,000,000				267,000,000
Canadian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)				1.92%
Outstanding principal				$ 162,000,000				148,000,000		$ 350
Australian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)				3.14%
Outstanding principal				$ 117,000,000				98,000,000
Brazilian Fleet Financing
Debt Instrument [Line Items]
Outstanding principal				$ 0				7,000,000
New Zealand Revolving Credit Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)				4.31%
Outstanding principal				$ 41,000,000				0
Capitalized Leases
Debt Instrument [Line Items]
Average interest rate (as a percent)				2.50%
Outstanding principal				$ 244,000,000				362,000,000
4.25% Senior Notes due April 2018
Debt Instrument [Line Items]
Outstanding principal				$ 250,000,000				250,000,000
Interest rate				4.25%
7.50% Senior Notes due October 2018
Debt Instrument [Line Items]
Outstanding principal				$ 0				700,000,000
Interest rate			7.50%	7.50%
Repayments of debt			$ 700,000,000
7.50% Senior Notes due October 2018 \| Forecast
Debt Instrument [Line Items]
Repayments of debt	$ 67,000,000
6.75% Senior Notes due April 2019
Debt Instrument [Line Items]
Outstanding principal				$ 450,000,000				1,250,000,000
Interest rate		6.75%		6.75%
Repayments of debt		$ 800,000,000
5.875% Senior Notes due October 2020
Debt Instrument [Line Items]
Outstanding principal				$ 700,000,000				700,000,000
Interest rate				5.875%
6.25% Senior Notes due October 2022
Debt Instrument [Line Items]
Outstanding principal				$ 500,000,000				500,000,000
Interest rate				7.375%
5.50% Senior Notes due October 2024
Debt Instrument [Line Items]
Outstanding principal				$ 500,000,000				500,000,000
Interest rate				6.25%
Senior Notes 5.50% Due 2024
Debt Instrument [Line Items]
Outstanding principal				$ 800,000,000				$ 0
Interest rate					5.50%

Debt (Debt Maturities) (Details) - USD ($) $ in Millions	12 Months Ended
Debt (Debt Maturities) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Feb. 28, 2017
Maturities of Long-term Debt [Abstract]
2017	$ 3,432
2018	2,284
2019	2,129
2020	1,955
2021	1,830
After 2021	$ 1,989
Senior ABL Facility
Debt Instrument [Line Items]
Fixed charge coverage ratio number of quarters	1 year
Corporate Debt
Maturities of Long-term Debt [Abstract]
2017	$ 8
2018	266
2019	457
2020	707
2021	507
After 2021	1,989
Fleet Debt
Maturities of Long-term Debt [Abstract]
2017	3,424
2018	2,018
2019	1,672
2020	1,248
2021	1,323
After 2021	$ 0
Subsequent Event
Maturities of Long-term Debt [Abstract]
2017		$ 817
2018		2,122
2019		4,906
2020		1,955
2021		1,830
After 2021		1,989
Subsequent Event \| Corporate Debt
Maturities of Long-term Debt [Abstract]
2017		8
2018		266
2019		457
2020		707
2021		507
After 2021		1,989
Subsequent Event \| Fleet Debt
Maturities of Long-term Debt [Abstract]
2017		809
2018		1,856
2019		4,449
2020		1,248
2021		1,323
After 2021		0
Subsequent Event \| UK Leveraged Financing
Maturities of Long-term Debt [Abstract]
2017		$ 156

Debt (Narrative) (Details) shares in Millions, $ in Millions	1 Months Ended						6 Months Ended	12 Months Ended
	Jan. 31, 2018 USD ($)	Oct. 31, 2016 USD ($)	Sep. 30, 2016 USD ($)	Jul. 31, 2016 USD ($)	Jun. 30, 2016 USD ($)	Apr. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Dec. 31, 2016 USD ($) shares	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)	Feb. 28, 2017 USD ($)	Feb. 28, 2017 EUR (€)	Dec. 31, 2016 EUR (€)	Dec. 31, 2016 GBP (£)	Sep. 30, 2016 EUR (€)	Jun. 30, 2016 EUR (€)	Jun. 30, 2016 GBP (£)	Feb. 24, 2016 USD ($)	Oct. 31, 2015 USD ($)	Sep. 30, 2015 CAD ($)	Jun. 15, 2015 USD ($)	Apr. 30, 2015 USD ($)	Mar. 31, 2014 USD ($)	Nov. 30, 2013 USD ($)	Nov. 30, 2013 EUR (€)	Jan. 31, 2013 USD ($)	Jun. 30, 2011 USD ($)	Nov. 30, 2010 NZD ($)	Nov. 30, 2010 AUD ($)	Jul. 31, 2010 USD ($)	Jun. 30, 2010 EUR (€)
Debt Instrument [Line Items]
2017								$ 3,432,000,000
Outstanding principal								3,200,000,000	$ 3,900,000,000
Repayments of Long-term Debt								$ 9,748,000,000	7,079,000,000	$ 4,523,000,000
Restricted net assets of subsidiaries as percentage of total consolidated net assets, greater than								25.00%					25.00%	25.00%
Availability under borrowing base limitation								$ 1,145,000,000
VIE, total assets								454,000,000	418,000,000
VIE, total liabilities								454,000,000	418,000,000
Vehicle								278,000,000	333,000,000
Loss on extinguishment of debt								(55,000,000)	0	(1,000,000)
Proceeds from issuance of vehicle debt								9,692,000,000	7,528,000,000	4,410,000,000
Accrued liabilities
Debt Instrument [Line Items]
Interest expense, net								$ 76,000,000	82,000,000
Hertz Global Holdings
Debt Instrument [Line Items]
Treasury stock acquired (in shares) \| shares								37
Letters of credit
Debt Instrument [Line Items]
Outstanding standby letters of credit								$ 582,000,000
Corporate Debt
Debt Instrument [Line Items]
2017								8,000,000
Availability under borrowing base limitation								1,130,000,000
Senior Loans
Debt Instrument [Line Items]
Outstanding principal					$ 700,000,000		$ 700,000,000	$ 697,000,000	0
Average interest rate (as a percent)								3.50%					3.50%	3.50%
Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding principal					1,700,000,000		1,700,000,000
Senior credit facility
Debt Instrument [Line Items]
Outstanding standby letters of credit								$ 570,000,000
US Vehicle RCF
Debt Instrument [Line Items]
Outstanding standby letters of credit								1,000,000,000
Availability under borrowing base limitation								0
Senior Term Facility
Debt Instrument [Line Items]
Outstanding principal								0	2,062,000,000
Senior ABL Facility
Debt Instrument [Line Items]
Outstanding principal								$ 0	0
Fixed charge coverage ratio number of quarters								1 year
Availability under borrowing base limitation								$ 1,130,000,000
Senior ABL Facility \| Letters of credit
Debt Instrument [Line Items]
Availability under borrowing base limitation								430,000,000
Senior Notes
Debt Instrument [Line Items]
Outstanding principal								$ 3,200,000,000	3,900,000,000
Average interest rate (as a percent)								6.07%					6.07%	6.07%
Redemption price of debt, percentage of face amount								101.00%
7.50% Senior Notes due October 2018
Debt Instrument [Line Items]
Interest rate				7.50%				7.50%					7.50%	7.50%
Outstanding principal								$ 0	700,000,000
Repayments of debt				$ 700,000,000
Senior Notes 5.50% Due 2024
Debt Instrument [Line Items]
Interest rate															5.50%
Outstanding principal								$ 800,000,000	0
Proceeds from issuance of vehicle debt			$ 800,000,000
6.75% Senior Notes due April 2019
Debt Instrument [Line Items]
Interest rate		6.75%						6.75%					6.75%	6.75%
Outstanding principal								$ 450,000,000	1,250,000,000
Repayments of debt		$ 800,000,000
6.25% Senior Notes due October 2022
Debt Instrument [Line Items]
Interest rate								7.375%					7.375%	7.375%
Outstanding principal								$ 500,000,000	500,000,000
5.50% Senior Notes due October 2024
Debt Instrument [Line Items]
Interest rate								6.25%					6.25%	6.25%
Outstanding principal								$ 500,000,000	500,000,000
4.25% Senior Notes due April 2018
Debt Instrument [Line Items]
Interest rate								4.25%					4.25%	4.25%
Outstanding principal								$ 250,000,000	250,000,000
5.875% Senior Notes due October 2020
Debt Instrument [Line Items]
Interest rate								5.875%					5.875%	5.875%
Outstanding principal								$ 700,000,000	700,000,000
Fleet Debt
Debt Instrument [Line Items]
2017								3,424,000,000
Availability under borrowing base limitation								15,000,000
U.S. Fleet Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal								855,000,000	1,420,000,000
HVF Series 2010-1
Debt Instrument [Line Items]
Aggregate maximum borrowings																														$ 750,000,000
Outstanding principal								$ 115,000,000	240,000,000
Average interest rate (as a percent)								4.96%					4.96%	4.96%
HVF Series 2011-1
Debt Instrument [Line Items]
Aggregate maximum borrowings																											$ 598,000,000
Outstanding principal								$ 115,000,000	230,000,000
Average interest rate (as a percent)								3.51%					3.51%	3.51%
HVF Series 2013-1
Debt Instrument [Line Items]
Aggregate maximum borrowings																										$ 950,000,000
Outstanding principal								$ 625,000,000	950,000,000
Average interest rate (as a percent)								1.91%					1.91%	1.91%
HVF II Series 2013-B Notes, Class B
Debt Instrument [Line Items]
Repayments of Long-term Debt					20,000,000
Debt Instrument, Face Amount								$ 40,000,000
Rental Car Asset-Backed Notes, Class A
Debt Instrument [Line Items]
Outstanding principal																						$ 622,000,000
Average interest rate (as a percent)																						2.73%
Rental Car Asset-Backed Notes, Class B
Debt Instrument [Line Items]
Outstanding principal																						$ 119,000,000
Average interest rate (as a percent)																						3.52%
Rental Car Asset-Backed Notes, Class C
Debt Instrument [Line Items]
Outstanding principal																						$ 39,000,000
Average interest rate (as a percent)																						4.35%
HVF II U.S. ABS Program
Debt Instrument [Line Items]
Outstanding principal								2,470,000,000	4,025,000,000										$ 636,000,000
HVF II Series 2015-1
Debt Instrument [Line Items]
Outstanding principal																						$ 780,000,000
HVF II Series 2013-A, Class A
Debt Instrument [Line Items]
Outstanding principal								1,844,000,000	980,000,000
Debt Instrument, Face Amount								$ 2,200,000,000
Average interest rate (as a percent)								1.68%					1.68%	1.68%
HVF II Series 2013-B, Class A
Debt Instrument [Line Items]
Outstanding principal								$ 626,000,000	1,308,000,000
Repayments of Long-term Debt					500,000,000
Debt Instrument, Face Amount								$ 1,000,000,000
Average interest rate (as a percent)								1.74%					1.74%	1.74%
HVF II Series 2014-A, Class A
Debt Instrument [Line Items]
Outstanding principal								$ 0	1,737,000,000
HVF II Series 2013-A Notes [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount								35,000,000
HFLF Variable Funding Notes
Debt Instrument [Line Items]
Availability under borrowing base limitation								0
HFLF Series 2013-2 Notes
Debt Instrument [Line Items]
Outstanding principal								$ 410,000,000	370,000,000									$ 500,000,000
Average interest rate (as a percent)								1.77%					1.77%	1.77%
HFLF Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal								$ 877,000,000	853,000,000														$ 400,000,000	$ 500,000,000
HFLF Series 2015-1 Notes
Debt Instrument [Line Items]
Outstanding principal								$ 248,000,000	295,000,000												$ 300,000,000
Average interest rate (as a percent)								1.31%					1.31%	1.31%
HFLF Series 2016-1 [Member]
Debt Instrument [Line Items]
Repayments of debt						$ 400,000,000
U.S. Vehicle Financing Facility
Debt Instrument [Line Items]
Outstanding principal								$ 0	190,000,000
Availability under borrowing base limitation								5,000,000
European Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding principal								$ 147,000,000	273,000,000
Average interest rate (as a percent)								2.38%					2.38%	2.38%
Availability under borrowing base limitation								$ 0
Former European Fleet Notes
Debt Instrument [Line Items]
Interest rate															4.125%									4.375%	4.375%
European Fleet Notes
Debt Instrument [Line Items]
Aggregate maximum borrowings \| €															€ 225,000,000										€ 425,000,000
Outstanding principal								$ 677,000,000	464,000,000
Average interest rate (as a percent)								4.29%					4.29%	4.29%
European Securitization
Debt Instrument [Line Items]
Aggregate maximum borrowings \| €																															€ 460,000,000
Outstanding principal								$ 312,000,000	267,000,000
Average interest rate (as a percent)								1.55%					1.55%	1.55%
Availability under borrowing base limitation								$ 0
Canadian Securitization
Debt Instrument [Line Items]
Outstanding principal								$ 162,000,000	148,000,000											$ 350
Average interest rate (as a percent)								1.92%					1.92%	1.92%
Availability under borrowing base limitation								$ 10,000,000
Australian Securitization
Debt Instrument [Line Items]
Aggregate maximum borrowings																													$ 250,000,000
Outstanding principal								$ 117,000,000	98,000,000
Average interest rate (as a percent)								3.14%					3.14%	3.14%
Availability under borrowing base limitation								$ 0
New Zealand Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate maximum borrowings																												$ 60,000,000
Outstanding principal								$ 41,000,000	0
Average interest rate (as a percent)								4.31%					4.31%	4.31%
Availability under borrowing base limitation								$ 0
UK Leveraged Financing
Debt Instrument [Line Items]
Aggregate maximum borrowings \| £														£ 250,000,000			£ 300,000,000
HVF II Series 2016-1 Notes
Debt Instrument [Line Items]
Outstanding principal																		1,100,000,000
HVF II Series 2016-3 Notes And HVF II Series 2016-4 Notes [Member]
Debt Instrument [Line Items]
Outstanding principal					848,000,000		$ 848,000,000
HVF II Series 2016-3 Notes, Class D
Debt Instrument [Line Items]
Repayments of Long-term Debt					48,000,000
London Interbank Offered Rate (LIBOR) \| Senior Loans \| Minimum
Debt Instrument [Line Items]
Basis spread on variable rate							0.75%
Forecast \| 7.50% Senior Notes due October 2018
Debt Instrument [Line Items]
Repayments of debt	$ 67,000,000
Revolving Credit Facility \| US Vehicle RCF
Debt Instrument [Line Items]
Aggregate maximum borrowings					$ 200,000,000		$ 200,000,000
Revolving Credit Facility \| European Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate maximum borrowings \| €													€ 250,000,000			€ 340,000,000
Eliminations
Debt Instrument [Line Items]
Repayments of Long-term Debt								0	0	0
Vehicle								0	0
Proceeds from issuance of vehicle debt								0	$ 0	$ 0
Eliminations \| HVF II Series 2015-3 Notes, Class D \| Affiliated Entity
Debt Instrument [Line Items]
Outstanding principal																			$ 36,000,000
Proceeds from issuance of vehicle debt						$ 15,000,000
Eliminations \| HFLF Series 2015-1 Notes
Debt Instrument [Line Items]
Outstanding principal								$ 5,000,000
Eliminations \| HVF II Series 2016-2 Notes, Class D \| Affiliated Entity
Debt Instrument [Line Items]
Outstanding principal																		$ 61,000,000
Subsequent Event
Debt Instrument [Line Items]
2017											$ 817,000,000
Subsequent Event \| Senior Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Leverage ratio, unrestricted cash netting cap											500,000,000
Subsequent Event \| Corporate Debt
Debt Instrument [Line Items]
2017											8,000,000
Subsequent Event \| Fleet Debt
Debt Instrument [Line Items]
2017											809,000,000
Subsequent Event \| HVF II Series 2013-A And HVF II Series 2013 B, Due January 2019
Debt Instrument [Line Items]
Debt Instrument, Face Amount											3,200,000,000
Subsequent Event \| UK Leveraged Financing
Debt Instrument [Line Items]
2017											$ 156,000,000
Subsequent Event \| Revolving Credit Facility \| European Revolving Credit Facility
Debt Instrument [Line Items]
Aggregate maximum borrowings \| €												€ 235,000,000

Debt (Loss on Extinguishment of Debt) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	$ 55	$ 0	$ 1
Non-Vehicle Related Service
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	49
Vehicle Related Service
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	6
Senior Term Facility \| Non-Vehicle Related Service
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	15
7.50% Senior Notes due October 2018 \| Non-Vehicle Related Service
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	18
6.75% Senior Notes due April 2019 \| Non-Vehicle Related Service
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	16
HVF II Series 2014-A \| Vehicle Related Service
Extinguishment of Debt [Line Items]
Loss on extinguishment of debt	$ 6

Debt (Borrowing Capacity) (Details) $ in Millions	Dec. 31, 2016 USD ($)
Debt Instrument [Line Items]
Remaining capacity	$ 2,541
Availability under borrowing base limitation	1,145
Senior ABL Facility
Debt Instrument [Line Items]
Remaining capacity	1,130
Availability under borrowing base limitation	1,130
Corporate Debt
Debt Instrument [Line Items]
Remaining capacity	1,130
Availability under borrowing base limitation	1,130
US Vehicle RCF
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
HVF II U.S. Vehicle Variable Funding Notes
Debt Instrument [Line Items]
Remaining capacity	780
Availability under borrowing base limitation	0
HFLF Variable Funding Notes
Debt Instrument [Line Items]
Remaining capacity	90
Availability under borrowing base limitation	0
U.S. Vehicle Financing Facility
Debt Instrument [Line Items]
Remaining capacity	7
Availability under borrowing base limitation	5
European Revolving Credit Facility
Debt Instrument [Line Items]
Remaining capacity	115
Availability under borrowing base limitation	0
European Securitization
Debt Instrument [Line Items]
Remaining capacity	167
Availability under borrowing base limitation	0
Canadian Securitization
Debt Instrument [Line Items]
Remaining capacity	96
Availability under borrowing base limitation	10
Australian Securitization
Debt Instrument [Line Items]
Remaining capacity	62
Availability under borrowing base limitation	0
Capitalized Leases
Debt Instrument [Line Items]
Remaining capacity	94
Availability under borrowing base limitation	0
New Zealand Revolving Credit Facility
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
Fleet Debt
Debt Instrument [Line Items]
Remaining capacity	1,411
Availability under borrowing base limitation	$ 15

Debt (Covenant Ratios) (Details)	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016
Debt Instrument [Line Items]
Covenant ratios					3.00
Maximum
Debt Instrument [Line Items]
Covenant ratios						0.0525
Forecast
Debt Instrument [Line Items]
Covenant ratios	3.00	3.25	3.25	3.25
Forecast \| Maximum
Debt Instrument [Line Items]
Covenant ratios				0.0475

Employee Retirement Benefits (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Defined Benefit Plan Disclosure [Line Items]
Stockholders' Equity Attributable to Parent		$ 1,075	$ 2,019
Accumulated other comprehensive income (loss)		(171)	(245)
Settlement loss due to restructuring activities taken during the year		5
Defined contribution plan, costs recognized		23	25	$ 14
U.K. Plan
Defined Benefit Plan Disclosure [Line Items]
Provisions charged to income		9	10	9
Company contributions		3	3
U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 459	575	619
Expected return on plan assets, percent		7.00%
Company contributions		$ 6	22
Defined Benefit Plan, Plan Amendments	$ 23
United States Non-Qualified Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Company contributions		6	22
Pension Benefits - Non-U.S.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		188	200	$ 212
Company contributions		4	$ 5
Estimated future contributions		3
Pension Benefits - Non-U.S. \| U.K.
Defined Benefit Plan Disclosure [Line Items]
Fair value of plan assets		$ 182
Expected return on plan assets, percent		5.20%
Marketable securities \| U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations		65.00%
Fixed Income Funds \| U.S. Plan
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations		35.00%
Actively Managed Multi-Asset Funds \| Pension Benefits - Non-U.S. \| U.K.
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations		37.50%
Passive Equity Funds \| Pension Benefits - Non-U.S. \| U.K.
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations		27.50%
U.K. Equities \| Pension Benefits - Non-U.S. \| U.K.
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations		45.00%
Passive Bond Funds \| Pension Benefits - Non-U.S. \| U.K.
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations		35.00%
Municipal Bonds \| Pension Benefits - Non-U.S. \| U.K.
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations		70.00%
Corporate Bonds \| Pension Benefits - Non-U.S. \| U.K.
Defined Benefit Plan Disclosure [Line Items]
Target plan asset allocations		30.00%

Employee Retirement Benefits (Weighted Average Assumptions) (Details) - U.S. Plan	6 Months Ended
	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015
Defined Benefit Plan Disclosure [Line Items]
Discount rate	3.50%	4.00%	4.30%
Expected rate of return on plan assets	7.20%
Average rate of increase in compensation	4.30%	4.30%	4.30%

Employee Retirement Benefits (Change in Benefit Obligation) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
U.S. Plan
Change in Benefit Obligation
Benefit obligation at the beginning of the year	$ 687	$ 726
Service cost	2	3
Interest cost	24	27
Employee contributions	0	0
Plan curtailments	(1)	(1)
Plan settlements	(31)	(21)
Benefits paid	(4)	(29)
Foreign currency exchange rate translation		0
Actuarial loss (gain)	18	(18)
Transfers in connection with the Spin-Off	(157)
Benefit obligation at the end of the year	538	687
Change in Plan Assets
Fair value of plan assets at the beginning of the year	575	619
Actual return of plan assets	48	(16)
Company contributions	6	22
Employee contributions	0	0
Plan settlements	(31)	(21)
Benefits paid	(4)	(29)
Foreign currency exchange rate translation	0	0
Transfers in connection with the Spin-Off	(125)	0
Amounts associated with discontinued operations (yet to be transferred)	(10)	0
Fair value of plan assets at the end of the year	459	575
Funded Status of the Plan
Plan assets less than benefit obligation	(79)	(112)
U.S. Plan \| Liabilities of Discontinued Operations
Funded Status of the Plan
Plan assets less than benefit obligation		19
Pension Benefits - Non-U.S.
Change in Benefit Obligation
Benefit obligation at the beginning of the year	235	274
Service cost	1	1
Interest cost	8	8
Employee contributions	0	0
Plan curtailments	0	0
Plan settlements	0	(6)
Benefits paid	(5)	(5)
Foreign currency exchange rate translation	(37)	(16)
Actuarial loss (gain)	55	(22)
Other	0	1
Benefit obligation at the end of the year	257	235
Change in Plan Assets
Fair value of plan assets at the beginning of the year	200	212
Actual return of plan assets	25	4
Company contributions	4	5
Employee contributions	0	0
Plan settlements	0	(6)
Benefits paid	(5)	(5)
Foreign currency exchange rate translation	(36)	(10)
Transfers in connection with the Spin-Off	0	0
Amounts associated with discontinued operations (yet to be transferred)	0	0
Fair value of plan assets at the end of the year	188	200
Funded Status of the Plan
Plan assets less than benefit obligation	(69)	(35)
Postretirement Benefits (U.S.)
Change in Benefit Obligation
Benefit obligation at the beginning of the year	15	15
Service cost	0	0
Interest cost	1	1
Employee contributions	1	0
Plan curtailments	0	0
Plan settlements	0	0
Benefits paid	(2)	(1)
Foreign currency exchange rate translation		0
Actuarial loss (gain)	0	0
Transfers in connection with the Spin-Off	(1)
Benefit obligation at the end of the year	14	15
Change in Plan Assets
Fair value of plan assets at the beginning of the year	0	0
Company contributions	1	1
Employee contributions	1	0
Plan settlements	0	0
Benefits paid	(2)	(1)
Foreign currency exchange rate translation	0	0
Transfers in connection with the Spin-Off	0	0
Amounts associated with discontinued operations (yet to be transferred)	0	0
Fair value of plan assets at the end of the year	0	0
Funded Status of the Plan
Plan assets less than benefit obligation	$ (14)	$ (15)

Employee Retirement Benefits (Amounts Recognized in Balance Sheet) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
U.S. Plan
Amounts recognized in balance sheet:
Net obligation recognized in the balance sheet		$ (79)	$ (112)
Prior service credit (cost)		1	1
Net gain (loss)		(87)	(128)
Accumulated other comprehensive income (loss)		(86)	(127)
Funded/(Unfunded) accrued pension or postretirement benefit		7	15
Net obligation recognized in the balance sheet		(79)	(112)
Total recognized in other comprehensive (income) loss		(41)	31
Total recognized in net periodic benefit cost and other comprehensive (income) loss		(36)	27
Estimated amounts that will be amortized from accumulated other comprehensive (income) loss over the next fiscal year:
Net gain (loss)		(4)	(8)
Accumulated Benefit Obligation at December 31		$ 535	$ 683
Weighted-average assumptions as of December 31
Discount rate	3.50%	4.00%	4.30%
Expected return of assets (as a percent)		7.00%	7.20%
Average rate of increase in compensation	4.30%	4.30%	4.30%
Components of Net Periodic Benefit Cost:
Service cost		$ 2	$ 3
Interest cost		24	27
Expected rate of return on plan assets	7.20%
U.S. Plan \| Continuing Operations
Components of Net Periodic Benefit Cost:
Service cost		2	3	$ 23
Interest cost		24	21	25
Expected return on plan assets		(32)	(31)	(32)
Net amortizations		6	2	2
Settlement loss		5	4	4
Curtailment gain		0	0	(8)
Special termination benefit cost		0	0	4
Net pension and postretirement expense		$ 5	$ (1)	$ 18
Weighted average discount rate for expense (January 1)		4.30%	3.90%	4.80%
Expected rate of return on plan assets		7.20%	7.40%	7.60%
U.S. Plan \| Prepaid expenses and other assets
Amounts recognized in balance sheet:
Net obligation recognized in the balance sheet		$ 0	$ 0
U.S. Plan \| Accrued liabilities
Amounts recognized in balance sheet:
Net obligation recognized in the balance sheet		(79)	(112)
Pension Benefits - Non-U.S.
Amounts recognized in balance sheet:
Net obligation recognized in the balance sheet		(69)	(35)
Prior service credit (cost)		0	0
Net gain (loss)		(66)	(33)
Accumulated other comprehensive income (loss)		(66)	(33)
Funded/(Unfunded) accrued pension or postretirement benefit		(3)	(2)
Net obligation recognized in the balance sheet		(69)	(35)
Total recognized in other comprehensive (income) loss		33	(17)
Total recognized in net periodic benefit cost and other comprehensive (income) loss		31	(20)
Estimated amounts that will be amortized from accumulated other comprehensive (income) loss over the next fiscal year:
Net gain (loss)		(1)	0
Accumulated Benefit Obligation at December 31		$ 255	$ 234
Weighted-average assumptions as of December 31
Discount rate		2.50%	3.60%
Expected return of assets (as a percent)		5.20%	6.10%
Average rate of increase in compensation		2.80%	2.60%
Components of Net Periodic Benefit Cost:
Service cost		$ 1	$ 1
Interest cost		8	8
Pension Benefits - Non-U.S. \| Continuing Operations
Components of Net Periodic Benefit Cost:
Service cost		1	1	$ 2
Interest cost		8	8	10
Expected return on plan assets		(11)	(15)	(15)
Net amortizations		0	2	0
Settlement loss		0	1	0
Curtailment gain		0	0	0
Special termination benefit cost		0	0	0
Net pension and postretirement expense		$ (2)	$ (3)	$ (3)
Weighted average discount rate for expense (January 1)		3.60%	3.30%	3.20%
Expected rate of return on plan assets		6.10%	7.30%	7.40%
Pension Benefits - Non-U.S. \| Prepaid expenses and other assets
Amounts recognized in balance sheet:
Net obligation recognized in the balance sheet		$ 1	$ 29
Pension Benefits - Non-U.S. \| Accrued liabilities
Amounts recognized in balance sheet:
Net obligation recognized in the balance sheet		(70)	(64)
Postretirement Benefits (U.S.)
Amounts recognized in balance sheet:
Net obligation recognized in the balance sheet		(14)	(15)
Prior service credit (cost)		0	0
Net gain (loss)		0	1
Accumulated other comprehensive income (loss)		0	1
Funded/(Unfunded) accrued pension or postretirement benefit		(14)	(16)
Net obligation recognized in the balance sheet		(14)	(15)
Total recognized in other comprehensive (income) loss		0	0
Total recognized in net periodic benefit cost and other comprehensive (income) loss		1	1
Estimated amounts that will be amortized from accumulated other comprehensive (income) loss over the next fiscal year:
Net gain (loss)		$ 0	$ 0
Weighted-average assumptions as of December 31
Discount rate		3.90%	4.20%
Initial health care cost trend rate (as a percent)		6.70%	6.90%
Ultimate health care cost trend rate (as a percent)		4.50%	4.50%
Number of years to ultimate trend rate (in years)		22 years	23 years
Components of Net Periodic Benefit Cost:
Service cost		$ 0	$ 0
Interest cost		1	1
Postretirement Benefits (U.S.) \| Continuing Operations
Components of Net Periodic Benefit Cost:
Service cost		0	0	$ 0
Interest cost		1	1	1
Expected return on plan assets		0	0	0
Net amortizations		0	0	0
Settlement loss		0	0	0
Curtailment gain		0	0	0
Special termination benefit cost		0	0	0
Net pension and postretirement expense		$ 1	$ 1	$ 1
Weighted average discount rate for expense (January 1)		4.20%	3.80%	4.40%
Initial health care cost trend rate (as a percent)		6.90%	7.30%	7.50%
Ultimate health care cost trend rate (as a percent)		4.50%	4.50%	4.50%
Number of years to ultimate health trend rate (in years)		22 years	14 years	15 years
Postretirement Benefits (U.S.) \| Prepaid expenses and other assets
Amounts recognized in balance sheet:
Net obligation recognized in the balance sheet		$ 0	$ 0
Postretirement Benefits (U.S.) \| Accrued liabilities
Amounts recognized in balance sheet:
Net obligation recognized in the balance sheet		$ (14)	$ (15)

Employee Retirement Benefits (Estimated Future Benefit Payments & Other Plans) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Pension Benefits
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
2017	$ 36
2018	37
2019	40
2020	42
2021	45
Years after 2021	237
Total	437
Other Plans [Abstract]
Aggregate period contributions	9	$ 10	$ 9
Pension Benefits \| Western Conference of Teamsters
Other Plans [Abstract]
Aggregate period contributions	6	6	6
Pension Benefits \| Other Plans
Other Plans [Abstract]
Aggregate period contributions	3	$ 4	$ 3
Pension Benefits \| Local 1034 \| Minimum
Other Plans [Abstract]
Multiemployer plan, period contributions, percentage of total contributions to pension fund		5.00%
Postretirement Benefits (U.S.)
Defined Benefit Plan, Expected Future Benefit Payments, Fiscal Year Maturity [Abstract]
2017	1
2018	1
2019	1
2020	1
2021	1
Years after 2021	6
Total	$ 11

Stock-Based Compensation (Narrative) (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost related to non-vested stock options, RSUs and PSUs granted	$ 23
Compensation expense	$ 13	$ 16	$ 10
Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period for recognition of total unrecognized compensation cost	1 year 8 months 26 days
Expected term (years)	5 years	5 years	3 years
Restricted Stock Units RSU and Performance Stock Units PSU
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Granted (in dollars per share)	$ 38.86	$ 80.77	$ 111.69
Award vesting percentage first year	33.33%	33.33%	33.33%
Common Stock Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares underlying outstanding awards	2,497,439
Shares reserved for future issuance	8,739,629
Omnibus Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share based compensation, shares authorized (in shares)	6,600,000
Awards granted pursuant to the Omnibus Plan	2,677,723
Omnibus Plan \| Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	292,010
Granted (in dollars per share)	$ 38.86
Omnibus Plan \| Performance Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	590,903
Granted (in dollars per share)	$ 37.85
Omnibus Plan \| Common Stock Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares underlying outstanding awards	2,497,439
Shares reserved for future issuance	6,710,697
Maximum \| Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	10 years

Stock-Based Compensation (Summary of the total compensation expense and associated recognized income tax benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Compensation Expense and Tax Benefit
Compensation expense	$ 13	$ 16	$ 10
Income tax benefit	(5)	(7)	(4)
Total	$ 8	$ 9	$ 6

Stock-Based Compensation (Schedule of valuation assumptions) (Details) - Stock Option - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	44.20%	41.40%	39.30%
Expected dividend yield	0.00%	0.00%	0.00%
Expected term (years)	5 years	5 years	3 years
Risk-free interest rate	1.00%	1.17%	0.96%
Weighted-average grant date fair value (in dollars per share)	$ 39.35	$ 29.09	$ 28.30

Stock-Based Compensation (Summary of option activity under stock incentive plan and omnibus plan) (Details) - Stock Option - Stock Incentive Plan and Omnibus Plan - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Options, Outstanding [Roll Forward]
Outstanding beginning balance (in shares)	2,626,013
Granted (in shares)	200,393
Exercised (in shares)	(403,074)
Forfeited or Expired (in shares)	(1,536,968)
Outstanding ending balance (in shares)	886,364	2,626,013
Exercisable (in shares)	388,086
Weighted Average Exercise Price [Roll Forward]
Outstanding beginning balance (in dollars per share)	$ 58.61
Granted (in dollars per share)	39.35
Exercised (in dollars per share)	23.29
Forfeited or Expired (in dollars per share)	60.61
Outstanding ending balance (in dollars per share)	66.24	$ 58.61
Exercisable (in dollars per share)	$ 60.95
Additional Disclosures [Abstract]
Weighted average remaining contractual term	3 years 6 months	3 years
Weighted average remaining contractual term, Exercisable	2 years 10 months 24 days
Aggregate intrinsic value	$ 2	$ 22
Aggregate intrinsic value, Exercisable	$ 0

Stock-Based Compensation (Summary of non-vested options and changes during the year) (Details) - Stock Option - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Options Nonvested Weighted Average Grant Date Fair Value [Abstract]
Granted (in dollars per share)	$ 39.35	$ 29.09	$ 28.30
Stock Incentive Plan and Omnibus Plan
Non-vested Options, Outstanding [Roll Forward]
Non-vested beginning balance (in shares)	657,857
Granted (in shares)	200,393
Vested (in shares)	(127,999)
Forfeited (in shares)	(231,973)
Non-vested ending balance (in shares)	498,278	657,857
Non-vested Options, Weighted Average Exercise Price [Roll Forward]
Non-vested beginning balance (in dollars per share)	$ 87.84
Granted (in dollars per share)	39.35
Vested (in dollars per share)	87.45
Forfeited (in dollars per share)	63.94
Non-vested ending balance (in dollars per share)	70.36	$ 87.84
Options Nonvested Weighted Average Grant Date Fair Value [Abstract]
Non-vested beginning balance (in dollars per share)	28.49
Granted (in dollars per share)	15.85
Vested (in dollars per share)	29.08
Forfeited (in dollars per share)	19.14
Non-vested ending balance (in dollars per share)	$ 24.32	$ 28.49

Stock-Based Compensation (Schedule of additional information pertaining to option activity under the plans) (Details) - Stock Option - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate intrinsic value of stock options exercised	$ 12	$ 4	$ 24
Cash received from the exercise of stock options	10	5	18
Fair value of options that vested	10	5	5
Tax benefit realized on exercise of stock options	$ 4	$ 1	$ 1

Stock-Based Compensation (Summary of PSU and RSU activity under the omnibus plan) (Details) - Omnibus Plan - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Performance Stock Units
Options, Outstanding [Roll Forward]
Outstanding beginning balance (in shares)	378,855
Granted (in shares)	590,903
Vested (in shares)	0
Forfeited or Expired (in shares)	(376,827)
Outstanding ending balance (in shares)	592,931	378,855
Weighted-Average Fair Value
Outstanding beginning balance (in dollars per share)	$ 80.17
Granted (in dollars per share)	37.85
Vested (in dollars per share)	0.00
Forfeited or Expired (In dollars per share)	65.32
Outstanding ending balance (in dollars per share)	$ 46.39	$ 80.17
Aggregate intrinsic value, Outstanding	$ 0	$ 20
Restricted Stock Units
Options, Outstanding [Roll Forward]
Outstanding beginning balance (in shares)	228,282
Granted (in shares)	292,010
Vested (in shares)	(86,929)
Forfeited or Expired (in shares)	(86,379)
Outstanding ending balance (in shares)	346,984	228,282
Weighted-Average Fair Value
Outstanding beginning balance (in dollars per share)	$ 81.83
Granted (in dollars per share)	38.86
Vested (in dollars per share)	80.42
Forfeited or Expired (In dollars per share)	70.71
Outstanding ending balance (in dollars per share)	$ 48.46	$ 81.83
Aggregate intrinsic value, Outstanding	$ 0	$ 13

Stock-Based Compensation (Summary of additional information pertaining to RSU activity) (Details) - Restricted Stock Units RSU and Performance Stock Units PSU - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total fair value of awards that vested	$ 7	$ 5	$ 9
Weighted average grant date fair value of awards (in dollars per share)	$ 38.86	$ 80.77	$ 111.69

Tangible Asset Impairments and Asset Write-downs (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Impairment charges and asset write-downs	$ 340	$ 70	$ 37
Impairment of long-lived assets held-for-use			14
Impairment of former corporate headquarters
Property, Plant and Equipment [Line Items]
Restructuring reserve accrual adjustment			13
Terminated Business Relationship
Property, Plant and Equipment [Line Items]
Impairment charges and asset write-downs			$ 10
Direct vehicle and operating \| Equipment
Property, Plant and Equipment [Line Items]
Impairment charges and asset write-downs	25
Held-for-sale \| Selling, general and administrative expenses \| Dollar Thrifty Headquarters
Property, Plant and Equipment [Line Items]
Impairment charges and asset write-downs		6
Held-for-sale \| Direct vehicle and operating \| Equipment
Property, Plant and Equipment [Line Items]
Impairment charges and asset write-downs	$ 18
Held-for-sale \| Other (income) expense \| Buildings
Property, Plant and Equipment [Line Items]
Impairment charges and asset write-downs		5
Held-for-sale \| Other (income) expense \| Held For Sale, Corporate Asset
Property, Plant and Equipment [Line Items]
Impairment charges and asset write-downs		3
Assets deemed to have no future use \| Equipment \| Customer Contracts
Property, Plant and Equipment [Line Items]
Impairment charges and asset write-downs		16
Assets deemed to have no future use \| Direct vehicle and operating \| Equipment \| Customer Contracts
Property, Plant and Equipment [Line Items]
Impairment charges and asset write-downs		9
Assets deemed to have no future use \| Other (income) expense \| Equipment \| Customer Contracts
Property, Plant and Equipment [Line Items]
Impairment charges and asset write-downs		$ 7

Lease and Concession Agreements (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Lease and Concession Agreements
Rents	$ 70	$ 72	$ 80
Concession fees:
Sublease income	(4)	(5)	(3)
Total	$ 830	864	867
Minimum obligations under existing agreements
Operating lease terms	30 years
Revenue earning equipment, office and computer equipment
Lease and Concession Agreements
Rents	$ 80	88	97
Minimum obligations under existing agreements
2017	20
2018	11
2019	4
2020	4
2021	4
After 2021	0
Total	43
Revenue earning vehicles
Lease and Concession Agreements
Rents	70	72	80
Office, computer and other equipment
Lease and Concession Agreements
Rents	10	16	17
Rents
Lease and Concession Agreements
Rents	122	158	153
Minimum obligations under existing agreements
2017	138
2018	146
2019	109
2020	80
2021	64
After 2021	292
Total	829
Concessions
Concession fees:
Minimum fixed obligations	291	367	416
Additional amounts, based on revenues	421	344	301
Total	834	$ 869	$ 870
Minimum obligations under existing agreements
2017	291
2018	237
2019	178
2020	144
2021	105
After 2021	428
Total	$ 1,383

Restructuring (Details) - USD ($) $ in Millions	12 Months Ended
Restructuring (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Restructuring details
Restructuring reserve programs initiated	$ 63
Restructuring charges	62	$ 29	$ 73
Restructuring reserve
Restructuring reserve, Balance at beginning of period	24	39
Charges incurred	62	29
Cash payments	(28)	(37)
Other non-cash changes	(31)	(7)
Restructuring reserve, Balance at end of period	27	24	39
Impairment charges and asset write-downs	340	70	37
Operating Segments \| U.S. Car Rental
Restructuring details
Restructuring charges	49	23	27
Operating Segments \| International Car Rental
Restructuring details
Restructuring charges	9	6	19
Corporate
Restructuring details
Restructuring charges	4	0	27
Direct vehicle and operating
Restructuring details
Restructuring charges	36	18	30
Direct vehicle and operating \| Equipment
Restructuring reserve
Impairment charges and asset write-downs	25
Selling, general and administrative
Restructuring details
Restructuring charges	26	11	43
Termination benefits
Restructuring details
Restructuring charges	$ 24	13	28
Expected duration for payment of restructuring obligations	12 months
Restructuring reserve
Restructuring reserve, Balance at beginning of period	$ 9	20
Charges incurred	24	13
Cash payments	(19)	(23)
Other non-cash changes	(1)	(1)
Restructuring reserve, Balance at end of period	13	9	20
Impairments and asset write-downs
Restructuring details
Restructuring charges	30	2	23
Restructuring reserve
Other non-cash changes		(4)
Facility closure and lease obligation costs
Restructuring details
Restructuring charges	7	18	12
Other
Restructuring details
Restructuring charges	1	(4)	10
Restructuring reserve
Restructuring reserve, Balance at beginning of period	15	19
Charges incurred	38	16
Cash payments	(9)	(14)
Other non-cash changes	(30)	(6)
Restructuring reserve, Balance at end of period	$ 14	$ 15	$ 19

Income Tax (Provision) Benefit (Schedule of Components of income Before Income Taxes) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Entity Information [Line Items]
Domestic									$ (535)	$ (84)	$ (323)
Foreign									65	216	92
Income (loss) from continuing operations before income taxes	$ (466)	$ 108	$ (35)	$ (76)	$ (52)	$ 256	$ 38	$ (109)	(470)	132	(231)
The Hertz Corporation
Entity Information [Line Items]
Domestic									(534)	(84)	(323)
Foreign									65	216	92
Income (loss) from continuing operations before income taxes	$ (465)	$ 108	$ (35)	$ (76)	$ (52)	$ 256	$ 38	$ (109)	$ (469)	$ 132	$ (231)

Income Tax (Provision) Benefit (Schedule of Total Provision for Taxes on Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Current:
Federal	$ 22	$ (49)	$ (34)
Foreign	48	57	32
State and local	12	(2)	8
Total current	82	6	6
Deferred:
Federal	(131)	34	(43)
Foreign	1	(23)	10
State and local	52	0	10
Total deferred	(78)	11	(23)
Total provision	$ 4	$ 17	$ (17)

Income Tax (Provision) Benefit (Schedule of Principal Items of the U.S. and Foreign Net Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Deferred Tax Assets:
Employee benefit plans	$ 64	$ 78
Net operating loss carry forwards	1,669	1,651
Federal, state and foreign local tax credit carry forwards	59	42
Accrued and prepaid expenses	251	241
Total Deferred Tax Assets	2,043	2,012
Less: Valuation Allowance	(230)	(148)
Total Net Deferred Tax Assets	1,813	1,864
Deferred Tax Liabilities:
Depreciation on tangible assets	(2,673)	(2,663)
Intangible assets	(1,232)	(1,303)
Total Deferred Tax Liabilities	(3,905)	(3,966)
Net Deferred Tax Liability	$ (2,092)	$ (2,102)

Income Tax (Provision) Benefit (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Operating Loss Carryforwards [Line Items]
Deferred tax assets	$ 1,669,000,000	$ 1,651,000,000
Valuation allowance recorded against deferred tax assets	230,000,000	148,000,000
Remaining deferred tax assets to be realized	$ 1,813,000,000	$ 1,864,000,000
Effective tax rate	(1.00%)	13.00%	7.00%
Income tax (provision) benefit	$ (4,000,000)	$ (17,000,000)	$ 17,000,000
Increase (decrease) in provision for income taxes	13,000,000		(34,000,000)
Undistributed earnings in foreign subsidiaries	841,000,000	595,000,000
Tax liability including impact of foreign withholding taxes	304,000,000
Reversal of unrecognized tax benefits within next twelve months	2,000,000
Net, after-tax interest and penalties recognized	1,000,000	4,000,000	$ 1,000,000
Net, after-tax interest and penalties accrued	8,000,000	6,000,000
Unrecognized tax benefits that would impact effective tax rate	9,000,000
Domestic Tax Authority
Operating Loss Carryforwards [Line Items]
Deferred tax assets	1,324,000,000	1,347,000,000
NOL carry forwards	3,782,000,000	3,850,000,000
Federal NOL carry forwards	3,914,000,000	3,981,000,000
Federal NOL carry forwards, related to excess tax deductions	132,000,000	132,000,000
Associated tax benefits	46,000,000
AMT Tax Credits and other	54,000,000	40,000,000
Domestic Tax Authority \| Net Capital Loss
Operating Loss Carryforwards [Line Items]
Valuation allowance recorded against deferred tax assets	2,000,000	0
Domestic Tax Authority \| Alternative Minimum Tax
Operating Loss Carryforwards [Line Items]
Valuation allowance recorded against deferred tax assets	10,000,000
State and Local Jurisdiction
Operating Loss Carryforwards [Line Items]
Deferred tax assets	190,000,000	173,000,000
Valuation allowance recorded against deferred tax assets	56,000,000	22,000,000
Foreign Tax Authority
Operating Loss Carryforwards [Line Items]
Deferred tax assets	155,000,000	131,000,000
NOL carry forwards	736,000,000	536,000,000
NOL carry forward, valuation allowance	108,000,000	78,000,000
NOL carry forward with indefinite carry forward period	679,000,000	479,000,000
Deferred tax assets associated with indefinite carry forward period	139,000,000	115,000,000
NOL subject to expiration	57,000,000	57,000,000
Deferred tax assets associated with NOL subject to expiration	16,000,000	16,000,000
Valuation allowance recorded against deferred tax assets	$ 47,000,000	48,000,000
Foreign Tax Authority \| SPAIN
Operating Loss Carryforwards [Line Items]
Valuation allowance, decrease during period		28,000,000
Foreign Tax Authority \| ITALY
Operating Loss Carryforwards [Line Items]
Valuation allowance, decrease during period		$ 5,000,000

Income Tax (Provision) Benefit (Schedule of Significant Items in the Reconciliation of the Statutory and Effective Income Tax Rates) (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Effective Income Tax Rate, Continuing Operations, Tax Rate Reconciliation [Abstract]
Statutory Federal Tax Rate	35.00%	35.00%	35.00%
Foreign tax rate differential	2.00%	(20.00%)	2.00%
State and local income taxes, net of federal income tax benefit	3.00%	(5.00%)	2.00%
Change in state statutory rates, net of federal income tax benefit	(7.00%)	5.00%	(1.00%)
Federal and foreign permanent differences	(1.00%)	5.00%	(1.00%)
Withholding taxes	(2.00%)	5.00%	(4.00%)
Uncertain tax positions	0.00%	(5.00%)	(4.00%)
Change in valuation allowance	(11.00%)	(35.00%)	(9.00%)
Benefit from sale of non-U.S. operations	0.00%	17.00%	0.00%
Change in foreign statutory rates	(3.00%)	1.00%	(3.00%)
Goodwill impairment	(12.00%)	0.00%	0.00%
Sale of CAR Inc. common stock	0.00%	14.00%	0.00%
Stock option shortfalls	(3.00%)	(0.00%)	(0.00%)
All other items, net	(2.00%)	(4.00%)	(10.00%)
Effective Tax Rate	(1.00%)	13.00%	7.00%

Income Tax (Provision) Benefit (Reconciliation of the Beginning and Ending Amounts of Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Balance at January 1	$ 81	$ 57	$ 11
Increase (Decrease) attributable to tax positions taken during prior periods	(35)	16	4
Increase (Decrease) attributable to tax positions taken during the current year	0	9	42
Decrease attributable to settlements with taxing authorities	(1)	(1)	0
Balance at December 31	$ 45	$ 81	$ 57

Financial Instruments (Details) - Recurring - Derivatives not designated as hedging instruments - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value of Derivative Instruments
Amount of Gain or (Loss) Recognized in Income on Derivatives	$ (5)	$ (14)	$ (2)
Interest rate caps
Fair Value of Derivative Instruments
Amount of Gain or (Loss) Recognized in Income on Derivatives	0	0	(2)
Foreign exchange forward contracts
Fair Value of Derivative Instruments
Amount of Gain or (Loss) Recognized in Income on Derivatives	(5)	(14)	$ 0
Level 2
Fair Value of Derivative Instruments
Fair value of asset derivatives	3	12
Fair value of liability derivatives	6	10
Level 2 \| Interest rate caps
Fair Value of Derivative Instruments
Fair value of asset derivatives	1	9
Fair value of liability derivatives	2	9
Level 2 \| Foreign exchange forward contracts
Fair Value of Derivative Instruments
Fair value of asset derivatives	2	3
Fair value of liability derivatives	$ 4	$ 1

Financial Instruments (Offsetting Assets) (Details) - Prepaid expenses and other assets - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Offsetting Assets [Line Items]
Gross assets	$ 3	$ 12
Gross assets offset in Balance Sheet	0	0
Net recognized assets in Balance Sheet	3	12
Gross Financial Instruments not offset in Balance Sheet	0	0
Net Amount	3	12
Interest rate caps
Offsetting Assets [Line Items]
Gross assets	1	9
Gross assets offset in Balance Sheet	0	0
Net recognized assets in Balance Sheet	1	9
Gross Financial Instruments not offset in Balance Sheet	0	0
Net Amount	1	9
Foreign exchange forward contracts
Offsetting Assets [Line Items]
Gross assets	2	3
Gross assets offset in Balance Sheet	0	0
Net recognized assets in Balance Sheet	2	3
Gross Financial Instruments not offset in Balance Sheet	0	0
Net Amount	$ 2	$ 3

Financial Instruments (Offsetting Liabilities) (Details) - Accrued liabilities - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Offsetting Liabilities [Line Items]
Gross liabilities	$ 6	$ 10
Gross liabilities offset in Balance Sheet	0	0
Net recognized liabilities in Balance Sheet	6	10
Gross Financial Instruments not offset in Balance Sheet	0	0
Net Amount	6	10
Interest rate caps
Offsetting Liabilities [Line Items]
Gross liabilities	2	9
Gross liabilities offset in Balance Sheet	0	0
Net recognized liabilities in Balance Sheet	2	9
Gross Financial Instruments not offset in Balance Sheet	0	0
Net Amount	2	9
Foreign exchange forward contracts
Offsetting Liabilities [Line Items]
Gross liabilities	4	1
Gross liabilities offset in Balance Sheet	0	0
Net recognized liabilities in Balance Sheet	4	1
Gross Financial Instruments not offset in Balance Sheet	0	0
Net Amount	$ 4	$ 1

Fair Value Measurements (Cash Equivalents and Investments) (Details) - Recurring - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 615	$ 341
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	222	181
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	393	160
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	606	230
Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	213	181
Money market funds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	393	49
Money market funds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	0
Equity and other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	9	111
Equity and other securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	9	0
Equity and other securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	0	111
Equity and other securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash equivalents	$ 0	$ 0

Fair Value Measurements (Debt Obligations) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	$ 3,200	$ 3,900
Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	13,619	15,848
Aggregate Fair Value	13,461	15,924
Non-Vehicle Related Service \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	3,934	5,991
Aggregate Fair Value	3,791	6,070
Vehicle Related Service \| Fair Value, Measurements, Recurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Nominal Unpaid Principal Balance	9,685	9,857
Aggregate Fair Value	$ 9,670	$ 9,854

Fair Value Measurements (Non-Recurring Basis) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2014	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment of long-lived assets held-for-use, Total loss adjustment		$ 14
Liabilities held for sale	$ 0		$ 1,234
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used	4
Impairment of long-lived assets held-for-use, Total loss adjustment	25
Long-lived assets held for sale	111
Long-lived assets held for sale, Total loss adjustments	18
Liabilities held for sale	17
Liabilities held for sale, Total loss adjustments	0
Fair Value, Measurements, Nonrecurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used	0
Long-lived assets held for sale	0
Liabilities held for sale	0
Fair Value, Measurements, Nonrecurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used	0
Long-lived assets held for sale	111
Liabilities held for sale	17
Fair Value, Measurements, Nonrecurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Long-lived assets held and used	4
Long-lived assets held for sale	0
Liabilities held for sale	$ 0

Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	$ 2,019
Other comprehensive income (loss) before reclassification	(27)	$ (95)
Amounts reclassified from accumulated other comprehensive income (loss)	(2)	(35)
Distribution of Herc Rentals Inc.	(347)
Balance at the end of the period	1,075	2,019
Pension and Other Post-Employment Benefits
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	(102)	(101)
Other comprehensive income (loss) before reclassification	(23)	(8)
Amounts reclassified from accumulated other comprehensive income (loss)	7	7
Distribution of Herc Rentals Inc.	8
Balance at the end of the period	(110)	(102)
Foreign Currency Items
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	(124)	5
Other comprehensive income (loss) before reclassification	(16)	(87)
Amounts reclassified from accumulated other comprehensive income (loss)	0	(42)
Distribution of Herc Rentals Inc.	95
Balance at the end of the period	(45)	(124)
Unrealized Losses on Terminated Net Investment Hedges
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	(19)	(19)
Other comprehensive income (loss) before reclassification	0	0
Amounts reclassified from accumulated other comprehensive income (loss)	0	0
Distribution of Herc Rentals Inc.	0
Balance at the end of the period	(19)	(19)
Realized/Unrealized Gains on Available for Sale Securities
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	0
Other comprehensive income (loss) before reclassification	12
Amounts reclassified from accumulated other comprehensive income (loss)	(9)
Distribution of Herc Rentals Inc.	0
Balance at the end of the period	3	0
Accumulated Other Comprehensive Income (Loss)
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at the beginning of the period	(245)	(115)
Distribution of Herc Rentals Inc.	103
Balance at the end of the period	$ (171)	$ (245)

Contingencies and Off-Balance Sheet Commitments (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended
	Jan. 31, 2016	Oct. 31, 2014	Dec. 31, 2016	Dec. 31, 2015	Sep. 30, 2015
Loss Contingencies [Line Items]
Liability recorded for public liability and property damage matters			$ 407	$ 394
Concession Fee Recoveries
Loss Contingencies [Line Items]
Litigation settlement, amount		$ 42
Litigation settlement, prejudgment interest		11
Litigation settlement, fees and costs to plaintiffs counsel		3
Concession Fee Recoveries \| Restitution Fund
Loss Contingencies [Line Items]
Litigation settlement, fees and costs to plaintiffs counsel		$ 3
French Road Tax
Loss Contingencies [Line Items]
Estimate of possible loss					$ 23
Ministry of the Economy, Finance and Industry, France \| French Road Tax
Loss Contingencies [Line Items]
Payments for other taxes	$ 9

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2016	Nov. 30, 2015	Aug. 31, 2015
Related Party Transaction [Line Items]
Purchases from related party		$ 6
Due from related parties							$ 425
Affiliated Entity
Related Party Transaction [Line Items]
Due from related parties			$ (345)			$ 650
Due to related parties	$ 345	345
Advances to Old Hertz Holdings	334
Master Loan Agreement \| Affiliated Entity
Related Party Transaction [Line Items]
Due from related parties	102	102			$ 425
Tax Related Liability \| Affiliated Entity
Related Party Transaction [Line Items]
Due from related parties	$ 65	65
Hertz Global Holdings
Related Party Transaction [Line Items]
Non-cash dividend paid to affiliate		334	365	$ 0
Advances to Old Hertz Holdings		$ 10	$ 0	$ 25

Equity and Earnings (Loss) Per Share - Hertz Global (Narrative) (Details) - USD ($)	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015	Mar. 31, 2014
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Preferred Stock, par value (in dollars per share)	$ 0.01		$ 0.01
Common Stock, par value (in dollars per share)	$ 0.01		$ 0.01
Treasury stock, shares	2,000,000		41,000,000
Stock repurchase program, authorized amount		$ 395,400,000.0
Treasury stock value	$ 100,000,000		$ 692,000,000
Hertz Global Holdings
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Preferred Stock, shares authorized	40,000,000		200,000,000
Preferred Stock, par value (in dollars per share)			$ 0.01
Common Stock, shares authorized	400,000,000		2,000,000,000
Stock repurchase program, authorized amount				$ 1,000,000,000
Treasury stock value	$ 100,000,000		$ 692,000,000

Equity and Earnings (Loss) Per Share - Hertz Global (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator:
Net income (loss) from continuing operations									$ (474)	$ 115	$ (214)
Net income (loss) from discontinued operations									(17)	158	132
Net income (loss), basic	$ (438)	$ 44	$ (28)	$ (52)	$ (37)	$ 217	$ 13	$ (78)	$ (491)	$ 273	$ (82)
Denominator:
Basic weighted average common shares (in shares)									84	90	91
Stock options, RSUs and PSUs (in shares)									0	1	0
Weighted average shares used to calculate diluted earnings per share (in shares)									84	91	91
Antidilutive stock options, RSUs, PSUs and conversion shares (in shares)									1	1	2
Earnings (loss) per share:
Basic earnings (loss) per share from continuing operations (in dollars per share)									$ (5.65)	$ 1.28	$ (2.35)
Basic earnings (loss) per share from discontinued operations (in dollars per share)									(0.20)	1.75	1.45
Basic earnings (loss) per share (in dollars per share)	$ (5.28)	$ 0.52	$ (0.33)	$ (0.61)	$ (0.43)	$ 2.38	$ 0.14	$ (0.85)	(5.85)	3.03	(0.90)
Diluted earnings (loss) per share from continuing operations (in dollars per share)									(5.65)	1.26	(2.35)
Diluted earnings (loss) per share from discontinued operations (in dollars per share)									(0.20)	1.74	1.45
Diluted earnings (loss) per share (in dollars per share)	$ (5.28)	$ 0.52	$ (0.33)	$ (0.61)	$ (0.43)	$ 2.38	$ 0.14	$ (0.85)	$ (5.85)	$ 3.00	$ (0.90)

Segment Information (Reportable Segments to Consolidated) (Details) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016 USD ($)	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Sep. 30, 2015 USD ($)	Jun. 30, 2015 USD ($)	Mar. 31, 2015 USD ($)	Dec. 31, 2016 USD ($) segment	Dec. 31, 2015 USD ($)	Dec. 31, 2014 USD ($)
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Number of reportable segments \| segment									3
Revenues	$ 2,009	$ 2,542	$ 2,270	$ 1,983	$ 2,027	$ 2,575	$ 2,317	$ 2,098	$ 8,803	$ 9,017	$ 9,475
Adjusted pretax income									65	325	93
Depreciation of revenue earning vehicles and lease charges, net									2,601	2,433	2,705
Depreciation and amortization, non-vehicle assets									265	274	291
Interest expense, net									624	599	617
Revenue earning vehicles, net, at end of year	10,818				10,746				10,818	10,746
Property and equipment, net, at end of year	858				977				858	977
Assets of discontinued operations	0				3,395				0	3,395
Total assets at end of year	19,155				23,514				19,155	23,514
United States
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues									6,690	6,845	7,008
Revenue earning vehicles, net, at end of year	9,035				8,857				9,035	8,857
Property and equipment, net, at end of year	748				842				748	842
Total assets at end of year	15,434				16,474				15,434	16,474
Outside United States
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues									2,113	2,172	2,467
Revenue earning vehicles, net, at end of year	1,783				1,889				1,783	1,889
Property and equipment, net, at end of year	110				135				110	135
Total assets at end of year	3,721				3,645				3,721	3,645
The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues	2,009	$ 2,542	$ 2,270	$ 1,983	2,027	$ 2,575	$ 2,317	$ 2,098	8,803	9,017	9,475
Adjusted pretax income									66	325	93
Depreciation of revenue earning vehicles and lease charges, net									2,601	2,433	2,705
Depreciation and amortization, non-vehicle assets									265	274	291
Interest expense, net									623	599	617
Revenue earning vehicles, net, at end of year	10,818				10,746				10,818	10,746
Property and equipment, net, at end of year	858				977				858	977
Assets of discontinued operations	0				3,390				0	3,390
Total assets at end of year	19,155				23,509				19,155	23,509
The Hertz Corporation \| United States
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Total assets at end of year	15,434				16,474				15,434	16,474
The Hertz Corporation \| Outside United States
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Total assets at end of year	3,721				3,645				3,721	3,645
Operating Segments
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pretax income									564	834	593
Operating Segments \| The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pretax income									564	834	593
Operating Segments \| U.S. Car Rental
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues									6,114	6,286	6,471
Adjusted pretax income									298	551	387
Depreciation of revenue earning vehicles and lease charges, net									1,753	1,572	1,758
Depreciation and amortization, non-vehicle assets									198	209	222
Interest expense, net									154	165	172
Revenue earning vehicles, net, at end of year	7,716				7,600				7,716	7,600
Property and equipment, net, at end of year	621				718				621	718
Total assets at end of year	12,876				13,614				12,876	13,614
Revenue earning vehicles and capital assets, non-vehicle
Expenditures									(7,376)	(7,930)	(6,175)
Proceeds from disposals									6,010	6,280	4,530
Net expenditures - Hertz Global and Hertz									(1,366)	(1,650)	(1,645)
Operating Segments \| U.S. Car Rental \| The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pretax income									298	551	387
Total assets at end of year	12,876				13,614				12,876	13,614
Operating Segments \| International Car Rental
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues									2,097	2,148	2,436
Adjusted pretax income									194	215	144
Depreciation of revenue earning vehicles and lease charges, net									389	398	492
Depreciation and amortization, non-vehicle assets									33	37	41
Interest expense, net									66	70	95
Revenue earning vehicles, net, at end of year	1,755				1,858				1,755	1,858
Property and equipment, net, at end of year	110				135				110	135
Total assets at end of year	3,578				3,002				3,578	3,002
Revenue earning vehicles and capital assets, non-vehicle
Expenditures									(2,953)	(2,887)	(3,165)
Proceeds from disposals									2,589	2,412	2,531
Net expenditures - Hertz Global and Hertz									(364)	(475)	(634)
Operating Segments \| International Car Rental \| The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pretax income									194	215	144
Total assets at end of year	3,578				3,002				3,578	3,002
Operating Segments \| All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues									592	583	568
Adjusted pretax income									72	68	62
Depreciation of revenue earning vehicles and lease charges, net									459	463	455
Depreciation and amortization, non-vehicle assets									11	10	11
Interest expense, net									14	10	12
Revenue earning vehicles, net, at end of year	1,347				1,288				1,347	1,288
Property and equipment, net, at end of year	13				5				13	5
Total assets at end of year	1,612				1,520				1,612	1,520
Revenue earning vehicles and capital assets, non-vehicle
Expenditures									(729)	(718)	(751)
Proceeds from disposals									209	162	150
Net expenditures - Hertz Global and Hertz									(520)	(556)	(601)
Operating Segments \| All Other Operations \| The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pretax income									72	68	62
Total assets at end of year	1,612				1,520				1,612	1,520
Corporate
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pretax income									(499)	(509)	(500)
Depreciation and amortization, non-vehicle assets									23	18	17
Interest expense, net									390	354	338
Property and equipment, net, at end of year	114				119				114	119
Total assets at end of year	1,089				1,983				1,089	1,983
Revenue earning vehicles and capital assets, non-vehicle
Expenditures									(33)	(101)	(54)
Proceeds from disposals									15	49	34
Net expenditures - Hertz Global and Hertz									(18)	(52)	(20)
Corporate \| The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pretax income									(498)	(509)	(500)
Interest expense, net									(1)	0	0
Total assets at end of year	$ 1,089				$ 1,983				1,089	1,983
Segment Reconciling Items [Member] \| The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pretax income									$ 1	$ 0	$ 0

Segment Information (Pre-tax Income) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Oct. 31, 2016	Jul. 31, 2016
Revenue earning equipment
Adjusted pretax income									$ 65	$ 325	$ 93
Income (loss) from continuing operations before income taxes	$ (466)	$ 108	$ (35)	$ (76)	$ (52)	$ 256	$ 38	$ (109)	(470)	132	(231)
Loss on extinguishment of debt									55	0	1
Impairment losses during the period	$ 172								(172)
Impairment charges and asset write-downs									$ 340	70	37
7.50% Senior Notes due October 2018
Revenue earning equipment
Interest rate	7.50%								7.50%				7.50%
6.75% Senior Notes due April 2019
Revenue earning equipment
Interest rate	6.75%								6.75%			6.75%
Trade name
Revenue earning equipment
Impairment of indefinite-lived intangible assets	$ 120									40
Consulting and Legal fees related to accounting review and investigation
Revenue earning equipment
Legal and advisory professional fees									$ 8	38	30
Impairment of former corporate headquarters
Revenue earning equipment
Restructuring reserve accrual adjustment											13
Terminated Business Relationship
Revenue earning equipment
Impairment charges and asset write-downs											10
Purchase accounting
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(65)	(87)	(94)
Debt-related charges
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(48)	(58)	(46)
Restructuring charges
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(53)	(84)	(151)
Loss on extinguishment of debt
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(55)	0	(1)
Sale of CAR, Inc. common stock
Revenue earning equipment
Income (loss) from continuing operations before income taxes									84	133	0
Impairment charges
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(340)	(57)	(24)
Finance and Information Technology Transformation Costs
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(53)	0	0
Other
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(5)	(40)	(8)
Direct vehicle and operating \| Equipment
Revenue earning equipment
Impairment charges and asset write-downs									25
Direct vehicle and operating \| Held-for-sale \| Equipment
Revenue earning equipment
Impairment charges and asset write-downs									18
Selling, general and administrative expenses \| Held-for-sale \| Dollar Thrifty Headquarters
Revenue earning equipment
Impairment charges and asset write-downs										6
Other (income) expense \| Held-for-sale \| Buildings
Revenue earning equipment
Impairment charges and asset write-downs										5
Other (income) expense \| Held-for-sale \| Held For Sale, Corporate Asset
Revenue earning equipment
Impairment charges and asset write-downs										3
U.S. Car Rental
Revenue earning equipment
Impairment losses during the period									0
International Car Rental
Revenue earning equipment
Impairment losses during the period									(172)
All Other Operations
Revenue earning equipment
Impairment losses during the period									0
Corporate
Revenue earning equipment
Adjusted pretax income									(499)	(509)	(500)
Operating Segments
Revenue earning equipment
Adjusted pretax income									564	834	593
Operating Segments \| U.S. Car Rental
Revenue earning equipment
Adjusted pretax income									298	551	387
Operating Segments \| International Car Rental
Revenue earning equipment
Adjusted pretax income									194	215	144
Operating Segments \| All Other Operations
Revenue earning equipment
Adjusted pretax income									72	68	62
The Hertz Corporation
Revenue earning equipment
Adjusted pretax income									66	325	93
Income (loss) from continuing operations before income taxes	$ (465)	$ 108	$ (35)	$ (76)	$ (52)	$ 256	$ 38	$ (109)	(469)	132	(231)
Loss on extinguishment of debt									55	0	1
Impairment charges and asset write-downs									340	70	37
The Hertz Corporation \| Purchase accounting
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(65)	(87)	(94)
The Hertz Corporation \| Debt-related charges
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(48)	(58)	(46)
The Hertz Corporation \| Restructuring charges
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(53)	(84)	(151)
The Hertz Corporation \| Loss on extinguishment of debt
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(55)	0	(1)
The Hertz Corporation \| Loss on extinguishment of debt \| 7.50% Senior Notes due October 2018
Revenue earning equipment
Write off of deferred debt issuance cost									27
The Hertz Corporation \| Loss on extinguishment of debt \| 6.75% Senior Notes due April 2019
Revenue earning equipment
Write off of deferred debt issuance cost									22
The Hertz Corporation \| Sale of CAR, Inc. common stock
Revenue earning equipment
Income (loss) from continuing operations before income taxes									84	133	0
The Hertz Corporation \| Impairment charges
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(340)	(57)	(24)
The Hertz Corporation \| Finance and Information Technology Transformation Costs
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(53)	0	0
The Hertz Corporation \| Other
Revenue earning equipment
Income (loss) from continuing operations before income taxes									(5)	(40)	(8)
The Hertz Corporation \| Other \| Company Headquarter Relocation
Revenue earning equipment
Income (loss) from continuing operations before income taxes										(5)	(9)
The Hertz Corporation \| Corporate
Revenue earning equipment
Adjusted pretax income									(498)	(509)	(500)
The Hertz Corporation \| Operating Segments
Revenue earning equipment
Adjusted pretax income									564	834	593
The Hertz Corporation \| Operating Segments \| U.S. Car Rental
Revenue earning equipment
Adjusted pretax income									298	551	387
The Hertz Corporation \| Operating Segments \| International Car Rental
Revenue earning equipment
Adjusted pretax income									194	215	144
The Hertz Corporation \| Operating Segments \| All Other Operations
Revenue earning equipment
Adjusted pretax income									72	68	62
Eminent Domain Case \| The Hertz Corporation \| Other
Revenue earning equipment
Income (loss) from continuing operations before income taxes									9
French Road Tax \| The Hertz Corporation \| Other
Revenue earning equipment
Income (loss) from continuing operations before income taxes										(23)
Class Action Lawsuit \| The Hertz Corporation \| Other
Revenue earning equipment
Litigation settlement, amount											19
Dollar Thrifty \| The Hertz Corporation \| Other
Revenue earning equipment
Income (loss) from continuing operations before income taxes										$ (5)	(9)
Acquisition related costs and charges \| The Hertz Corporation \| Other
Revenue earning equipment
Income (loss) from continuing operations before income taxes											$ (10)
Vehicle Related Service
Revenue earning equipment
Loss on extinguishment of debt									$ 6

Guarantor and Non-Guarantor Annual Condensed Consolidating Financial Information (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Guarantor Subsidiaries
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Investment in subsidiaries, net	$ 598	$ 1,614
Non-Guarantor Subsidiaries
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Investment in subsidiaries, net	$ 0	0
Restatement Adjustment \| Non-Guarantor Subsidiaries
Quantifying Misstatement in Current Year Financial Statements [Line Items]
Investment in subsidiaries, net		$ 453

Quarterly Financial Information (Unaudited) (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Entity Information [Line Items]
Income (loss) from continuing operations before income taxes	$ (466)	$ 108	$ (35)	$ (76)	$ (52)	$ 256	$ 38	$ (109)	$ (470)	$ 132	$ (231)
Net income (loss) from continuing operations									(474)	115	$ (214)
Impairment losses during the period	172								(172)
Trade name
Entity Information [Line Items]
Impairment of indefinite-lived intangible assets	$ 120									$ 40
Restatement Adjustment
Entity Information [Line Items]
Income (loss) from continuing operations before income taxes						(18)
Prior Period Misstatements Corrected in Current Period \| Restatement Adjustment
Entity Information [Line Items]
Income (loss) from continuing operations before income taxes						(13)			(11)
Net income (loss) from continuing operations									$ (7)
Post Acquisition Accounting Adjustment \| Restatement Adjustment
Entity Information [Line Items]
Income (loss) from continuing operations before income taxes						(4)
Concession Fee Recoveries \| Restatement Adjustment
Entity Information [Line Items]
Income (loss) from continuing operations before income taxes						(4)
Adjustment to Obligations for Uncollected Customer Fees \| Restatement Adjustment
Entity Information [Line Items]
Income (loss) from continuing operations before income taxes						(4)
Capitalization and Timing of Depreciation or Non-Fleet Expenditures \| Restatement Adjustment
Entity Information [Line Items]
Income (loss) from continuing operations before income taxes						(3)
Other Immaterial Errors \| Restatement Adjustment
Entity Information [Line Items]
Income (loss) from continuing operations before income taxes						$ (3)

Guarantor and Non-Guarantor Annual Condensed Consolidating Financial Information (Balance Sheet) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Aug. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 816	$ 474		$ 474	$ 396
Vehicle	278	333
Receivables, net of allowance	1,283	1,786
Due from related parties			$ 425
Prepaid expenses and other assets	578	995
Revenue earning vehicles, net	10,818	10,746
Property and equipment, net	858	977
Other intangible assets, net	3,332	3,522
Goodwill	1,081	1,261		1,262
Assets held for sale	111	25
Assets of discontinued operations	0	3,395
Total assets	19,155	23,514
LIABILITIES AND EQUITY
Total accounts payable	821	766
Accrued liabilities	980	1,035
Accrued taxes, net	165	128
Debt	13,541	15,770
Public liability and property damage	407	394
Deferred income taxes, net	2,149	2,168
Liabilities held for sale	17	0
Liabilities of discontinued operations	0	1,234
Total liabilities	18,080	21,495
Equity:
Stockholder's equity	1,075	2,019
Total liabilities and equity	19,155	23,514
Eliminations
ASSETS
Cash and cash equivalents	0	0		0	0
Vehicle	0	0
Receivables, net of allowance	0	0
Due from related parties	(18,156)	(14,939)
Prepaid expenses and other assets	(5,440)	(4,682)
Revenue earning vehicles, net	0	0
Property and equipment, net	0	0
Investment in subsidiaries, net	(6,712)	(9,071)
Other intangible assets, net	0	0
Goodwill	0	0
Assets held for sale	0	0
Assets of discontinued operations		0
Total assets	(30,308)	(28,692)
LIABILITIES AND EQUITY
Due to affiliates	(18,156)	(14,314)
Total accounts payable	0	0
Accrued liabilities	0	0
Accrued taxes, net	(2,812)	(2,963)
Debt	0	0
Public liability and property damage	0	0
Deferred income taxes, net	(2,628)	(1,719)
Liabilities held for sale	0
Liabilities of discontinued operations		(624)
Total liabilities	(23,596)	(19,620)
Equity:
Stockholder's equity	(6,712)	(9,072)
Total liabilities and equity	(30,308)	(28,692)
Parent (The Hertz Corporation)
ASSETS
Cash and cash equivalents	458	179		2	62
Vehicle	53	57
Receivables, net of allowance	752	399
Due from related parties	3,668	4,158
Prepaid expenses and other assets	5,736	4,518
Revenue earning vehicles, net	361	388
Property and equipment, net	656	752
Investment in subsidiaries, net	6,114	7,457
Other intangible assets, net	89	142
Goodwill	102	102
Assets held for sale	0	25
Assets of discontinued operations		0
Total assets	17,989	18,177
LIABILITIES AND EQUITY
Due to affiliates	11,748	8,888
Total accounts payable	279	262
Accrued liabilities	557	584
Accrued taxes, net	78	223
Debt	4,086	6,126
Public liability and property damage	166	146
Deferred income taxes, net	0	0
Liabilities held for sale	0
Liabilities of discontinued operations		0
Total liabilities	16,914	16,229
Equity:
Stockholder's equity	1,075	1,948
Total liabilities and equity	17,989	18,177
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	12	17		10	6
Vehicle	5	3
Receivables, net of allowance	167	183
Due from related parties	4,738	3,238
Prepaid expenses and other assets	83	698
Revenue earning vehicles, net	7	6
Property and equipment, net	70	74
Investment in subsidiaries, net	598	1,614
Other intangible assets, net	3,223	3,350
Goodwill	943	942
Assets held for sale	0	0
Assets of discontinued operations		2,989
Total assets	9,846	13,114
LIABILITIES AND EQUITY
Due to affiliates	1,900	1,465
Total accounts payable	90	81
Accrued liabilities	103	114
Accrued taxes, net	18	19
Debt	0	0
Public liability and property damage	43	48
Deferred income taxes, net	2,980	2,005
Liabilities held for sale	0
Liabilities of discontinued operations		1,915
Total liabilities	5,134	5,647
Equity:
Stockholder's equity	4,712	7,467
Total liabilities and equity	9,846	13,114
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	346	278		462	328
Vehicle	220	273
Receivables, net of allowance	364	1,204
Due from related parties	9,750	7,543
Prepaid expenses and other assets	199	461
Revenue earning vehicles, net	10,450	10,352
Property and equipment, net	132	151
Investment in subsidiaries, net	0	0
Other intangible assets, net	20	30
Goodwill	36	217
Assets held for sale	111	0
Assets of discontinued operations		401
Total assets	21,628	20,910
LIABILITIES AND EQUITY
Due to affiliates	4,508	3,961
Total accounts payable	452	423
Accrued liabilities	320	337
Accrued taxes, net	2,881	2,849
Debt	9,455	9,644
Public liability and property damage	198	200
Deferred income taxes, net	1,797	1,882
Liabilities held for sale	17
Liabilities of discontinued operations		9
Total liabilities	19,628	19,305
Equity:
Stockholder's equity	2,000	1,605
Total liabilities and equity	21,628	20,910
The Hertz Corporation
ASSETS
Cash and cash equivalents	816	474		$ 474	$ 396
Vehicle	278	333
Receivables, net of allowance	1,283	1,786
Due from related parties	0	0
Prepaid expenses and other assets	578	995
Revenue earning vehicles, net	10,818	10,746
Property and equipment, net	858	977
Investment in subsidiaries, net	0	0
Other intangible assets, net	3,332	3,522
Goodwill	1,081	1,261
Assets held for sale	111	25
Assets of discontinued operations	0	3,390
Total assets	19,155	23,509
LIABILITIES AND EQUITY
Due to affiliates	0	0
Total accounts payable	821	766
Accrued liabilities	980	1,035
Accrued taxes, net	165	128
Debt	13,541	15,770
Public liability and property damage	407	394
Deferred income taxes, net	2,149	2,168
Liabilities held for sale	17	0
Liabilities of discontinued operations	0	1,300
Total liabilities	18,080	21,561
Equity:
Stockholder's equity	1,075	1,948
Total liabilities and equity	$ 19,155	$ 23,509

Quarterly Financial Information (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Entity Information [Line Items]
Revenues	$ 2,009	$ 2,542	$ 2,270	$ 1,983	$ 2,027	$ 2,575	$ 2,317	$ 2,098	$ 8,803	$ 9,017	$ 9,475
Income (loss) from continuing operations before income taxes	(466)	108	(35)	(76)	(52)	256	38	(109)	(470)	132	(231)
Net income (loss)	$ (438)	$ 44	$ (28)	$ (52)	$ (37)	$ 217	$ 13	$ (78)	$ (491)	$ 273	$ (82)
Earnings (loss) per share - basic and diluted:
Basic (in dollars per share)	$ (5.28)	$ 0.52	$ (0.33)	$ (0.61)	$ (0.43)	$ 2.38	$ 0.14	$ (0.85)	$ (5.85)	$ 3.03	$ (0.90)
Diluted (in dollars per share)	$ (5.28)	$ 0.52	$ (0.33)	$ (0.61)	$ (0.43)	$ 2.38	$ 0.14	$ (0.85)	$ (5.85)	$ 3.00	$ (0.90)
The Hertz Corporation
Entity Information [Line Items]
Revenues	$ 2,009	$ 2,542	$ 2,270	$ 1,983	$ 2,027	$ 2,575	$ 2,317	$ 2,098	$ 8,803	$ 9,017	$ 9,475
Income (loss) from continuing operations before income taxes	(465)	108	(35)	(76)	(52)	256	38	(109)	(469)	132	(231)
Net income (loss)	$ (437)	$ 44	$ (28)	$ (52)	$ (37)	$ 217	$ 13	$ (78)	$ (488)	$ 276	$ (78)

- Definition

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

+ References + Details

Guarantor and Non-Guarantor Annual Condensed Consolidating Financial Information (Statement of Operations and Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Total revenues	$ 2,009	$ 2,542	$ 2,270	$ 1,983	$ 2,027	$ 2,575	$ 2,317	$ 2,098	$ 8,803	$ 9,017	$ 9,475
Expenses:
Direct vehicle and operating									4,932	5,055	5,458
Depreciation of revenue earning vehicles and lease charges, net									2,601	2,433	2,705
Selling, general and administrative									899	873	936
Interest expense, net									624	599	617
Goodwill and intangible asset impairments									292	40	0
Other (income) expense, net									(75)	(115)	(10)
Total expenses									9,273	8,885	9,706
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(466)	108	(35)	(76)	(52)	256	38	(109)	(470)	132	(231)
(Provision) benefit for taxes on income (loss) of continuing operations									(4)	(17)	17
Net income (loss) from continuing operations									(474)	115	(214)
Net income (loss) from discontinued operations									(17)	158	132
Net income (loss)	(438)	44	(28)	(52)	(37)	217	13	(78)	(491)	273	(82)
Other comprehensive income (loss), net of tax									(29)	(130)	(121)
Comprehensive income (loss)									(520)	143	(203)
Eliminations
Condensed Financial Statements, Captions [Line Items]
Total revenues									(3,306)	(2,600)	(3,057)
Expenses:
Direct vehicle and operating									(1)	(2)	(2)
Depreciation of revenue earning vehicles and lease charges, net									(3,303)	(2,597)	(3,051)
Selling, general and administrative									(2)	(1)	(4)
Interest expense, net									0	0	0
Goodwill and intangible asset impairments									0	0
Other (income) expense, net									0	0	0
Total expenses									(3,306)	(2,600)	(3,057)
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries									0	0	0
(Provision) benefit for taxes on income (loss) of continuing operations									0	0	0
Equity in earnings (losses) of subsidiaries, net of tax									(1,182)	(1,391)	(1,066)
Net income (loss) from continuing operations									(1,182)	(1,391)	(1,066)
Net income (loss) from discontinued operations									0	(68)	(37)
Net income (loss)									(1,182)	(1,459)	(1,103)
Other comprehensive income (loss), net of tax									40	118	118
Comprehensive income (loss)									(1,142)	(1,341)	(985)
Parent (The Hertz Corporation)
Condensed Financial Statements, Captions [Line Items]
Total revenues									4,604	4,618	4,703
Expenses:
Direct vehicle and operating									2,909	2,895	2,995
Depreciation of revenue earning vehicles and lease charges, net									2,766	1,951	2,510
Selling, general and administrative									602	527	536
Interest expense, net									407	389	382
Goodwill and intangible asset impairments									0	40
Other (income) expense, net									6	0	(22)
Total expenses									6,690	5,802	6,401
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries									(2,086)	(1,184)	(1,698)
(Provision) benefit for taxes on income (loss) of continuing operations									682	262	631
Equity in earnings (losses) of subsidiaries, net of tax									916	1,198	989
Net income (loss) from continuing operations									(488)	276	(78)
Net income (loss) from discontinued operations									0	0	0
Net income (loss)									(488)	276	(78)
Other comprehensive income (loss), net of tax									(29)	(130)	(121)
Comprehensive income (loss)									(517)	146	(199)
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenues									1,483	1,567	1,650
Expenses:
Direct vehicle and operating									761	856	907
Depreciation of revenue earning vehicles and lease charges, net									685	665	513
Selling, general and administrative									51	69	89
Interest expense, net									(58)	(29)	(17)
Goodwill and intangible asset impairments									120	0
Other (income) expense, net									(10)	(2)	(4)
Total expenses									1,549	1,559	1,488
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries									(66)	8	162
(Provision) benefit for taxes on income (loss) of continuing operations									(26)	35	(99)
Equity in earnings (losses) of subsidiaries, net of tax									266	193	77
Net income (loss) from continuing operations									174	236	140
Net income (loss) from discontinued operations									(5)	162	136
Net income (loss)									169	398	276
Other comprehensive income (loss), net of tax									7	(4)	(6)
Comprehensive income (loss)									176	394	270
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenues									6,022	5,432	6,179
Expenses:
Direct vehicle and operating									1,263	1,306	1,558
Depreciation of revenue earning vehicles and lease charges, net									2,453	2,414	2,733
Selling, general and administrative									248	278	315
Interest expense, net									274	239	252
Goodwill and intangible asset impairments									172	0
Other (income) expense, net									(71)	(113)	16
Total expenses									4,339	4,124	4,874
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries									1,683	1,308	1,305
(Provision) benefit for taxes on income (loss) of continuing operations									(660)	(314)	(515)
Equity in earnings (losses) of subsidiaries, net of tax									0	0	0
Net income (loss) from continuing operations									1,023	994	790
Net income (loss) from discontinued operations									(10)	67	37
Net income (loss)									1,013	1,061	827
Other comprehensive income (loss), net of tax									(47)	(114)	(112)
Comprehensive income (loss)									966	947	715
The Hertz Corporation
Condensed Financial Statements, Captions [Line Items]
Total revenues	2,009	2,542	2,270	1,983	2,027	2,575	2,317	2,098	8,803	9,017	9,475
Expenses:
Direct vehicle and operating									4,932	5,055	5,458
Depreciation of revenue earning vehicles and lease charges, net									2,601	2,433	2,705
Selling, general and administrative									899	873	936
Interest expense, net									623	599	617
Goodwill and intangible asset impairments									292	40	0
Other (income) expense, net									(75)	(115)	(10)
Total expenses									9,272	8,885	9,706
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(465)	108	(35)	(76)	(52)	256	38	(109)	(469)	132	(231)
(Provision) benefit for taxes on income (loss) of continuing operations									(4)	(17)	17
Equity in earnings (losses) of subsidiaries, net of tax									0	0	0
Net income (loss) from continuing operations									(473)	115	(214)
Net income (loss) from discontinued operations									(15)	161	136
Net income (loss)	$ (437)	$ 44	$ (28)	$ (52)	$ (37)	$ 217	$ 13	$ (78)	(488)	276	(78)
Other comprehensive income (loss), net of tax									(29)	(130)	(121)
Comprehensive income (loss)									$ (517)	$ 146	$ (199)

Guarantor and Non-Guarantor Annual Condensed Consolidating Financial Information (Statement of Cash Flows) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 2,529	$ 2,776	$ 2,941
Cash flows from investing activities:
Revenue earning vehicles expenditures	(10,957)	(11,386)	(9,814)
Proceeds from disposal of revenue earning vehicles	8,764	8,796	7,167
Capital asset expenditures, non-vehicle	(134)	(250)	(331)
Proceeds from disposal of property and other equipment	59	107	78
Acquisitions, net of cash acquired	(2)	(95)	(75)
Sales of (investment in) shares in equity investment	222	236	(30)
Net cash provided by (used in) investing activities	(1,996)	(2,380)	(2,756)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	9,692	7,528	4,410
Repayments of vehicle debt	(9,748)	(7,079)	(4,523)
Proceeds from issuance of non-vehicle debt	2,592	1,867	2,480
Repayments of non-vehicle debt	(4,651)	(2,112)	(2,457)
Payment of financing costs	(75)	(29)	(63)
Early redemption premium payment	(27)	0	0
Transfers from discontinued entities	2,122	61	72
Other	12	1	4
Net cash provided by (used in) financing activities	(183)	(368)	(77)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	(8)	(28)	(30)
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	342	0	78
Cash and cash equivalents at beginning of period	474	474	396
Cash and cash equivalents at end of period	816	474	474
Cash flows provided by (used in) operating activities	205	556	511
Cash flows provided by (used in) investing activities	(77)	(385)	(427)
Cash flows provided by (used in) financing activities	(97)	(172)	(82)
Effect of foreign currency exchange rate changes on cash and cash equivalents of discontinued operations	0	(3)	(1)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	31	(4)	1
Vehicle Related Service
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	53	221	249
Non-Vehicle Related Service
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	(1)	(9)	0
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(814)	(524)	(1,037)
Cash flows from investing activities:
Revenue earning vehicles expenditures	0	0	0
Proceeds from disposal of revenue earning vehicles	0	0	0
Capital asset expenditures, non-vehicle	0	0	0
Proceeds from disposal of property and other equipment	0	0	0
Capital contributions to subsidiaries	2,632	2,831	1,651
Return of capital from subsidiaries	(3,849)	(5,077)	(1,722)
Loan to Parent/Guarantor from Non-Guarantor	1,055	737	480
Acquisitions, net of cash acquired	0	0	0
Sales of (investment in) shares in equity investment	0	0	0
Advances to Old Hertz Holdings		0	0
Repayments from Old Hertz Holdings			0
Net cash provided by (used in) investing activities	(162)	(1,509)	409
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	0	0	0
Repayments of vehicle debt	0	0	0
Proceeds from issuance of non-vehicle debt	0	0	0
Repayments of non-vehicle debt	0	0	0
Payment of financing costs	0	0	0
Early redemption premium payment	0
Transfers from discontinued entities	0	0	0
Capital contributions received from parent	(2,632)	(2,831)	(1,651)
Loan to Parent/Guarantor from Non-Guarantor	(1,055)	(737)	(480)
Payment of dividends and return of capital	4,663	5,601	2,759
Advances to Hertz Global/Old Hertz Holdings	0	0
Other	0		0
Net cash provided by (used in) financing activities	976	2,033	628
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	0	0	0
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	0	0	0
Cash and cash equivalents at beginning of period	0	0	0
Cash and cash equivalents at end of period	0	0	0
Cash flows provided by (used in) operating activities	0	0	0
Cash flows provided by (used in) investing activities	0	0	0
Cash flows provided by (used in) financing activities	0	0	0
Effect of foreign currency exchange rate changes on cash and cash equivalents of discontinued operations		0	0
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	0	0	0
Eliminations \| Vehicle Related Service
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	0	0	0
Eliminations \| Non-Vehicle Related Service
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	0	0
Parent (The Hertz Corporation)
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(1,892)	(1,390)	(464)
Cash flows from investing activities:
Revenue earning vehicles expenditures	(342)	(434)	(243)
Proceeds from disposal of revenue earning vehicles	417	303	183
Capital asset expenditures, non-vehicle	(80)	(154)	(195)
Proceeds from disposal of property and other equipment	35	53	43
Capital contributions to subsidiaries	(2,632)	(2,650)	(1,614)
Return of capital from subsidiaries	3,849	4,634	1,722
Loan to Parent/Guarantor from Non-Guarantor	0	0	0
Acquisitions, net of cash acquired	0	(17)	0
Sales of (investment in) shares in equity investment	(45)	0	0
Advances to Old Hertz Holdings		(267)	(28)
Repayments from Old Hertz Holdings			25
Net cash provided by (used in) investing activities	1,206	1,493	(134)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	716	25	27
Repayments of vehicle debt	(707)	0	(16)
Proceeds from issuance of non-vehicle debt	2,592	1,867	2,480
Repayments of non-vehicle debt	(4,651)	(2,112)	(2,457)
Payment of financing costs	(46)	(4)	(12)
Early redemption premium payment	(27)
Transfers from discontinued entities	2,122	(95)	77
Capital contributions received from parent	0	0	0
Loan to Parent/Guarantor from Non-Guarantor	1,055	737	437
Payment of dividends and return of capital	0	0	0
Advances to Hertz Global/Old Hertz Holdings	(102)	(344)
Other	13		2
Net cash provided by (used in) financing activities	965	74	538
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	0	0	0
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	279	177	(60)
Cash and cash equivalents at beginning of period	179	2	62
Cash and cash equivalents at end of period	458	179	2
Cash flows provided by (used in) operating activities	0	0	0
Cash flows provided by (used in) investing activities	0	0	0
Cash flows provided by (used in) financing activities	0	0	0
Effect of foreign currency exchange rate changes on cash and cash equivalents of discontinued operations		0	0
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	0	0	0
Parent (The Hertz Corporation) \| Vehicle Related Service
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	4	25	(27)
Parent (The Hertz Corporation) \| Non-Vehicle Related Service
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	0	0
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	85	(206)	151
Cash flows from investing activities:
Revenue earning vehicles expenditures	(69)	(93)	(129)
Proceeds from disposal of revenue earning vehicles	0	41	107
Capital asset expenditures, non-vehicle	(16)	(6)	(29)
Proceeds from disposal of property and other equipment	1	11	4
Capital contributions to subsidiaries	0	(181)	(37)
Return of capital from subsidiaries	0	443	0
Loan to Parent/Guarantor from Non-Guarantor	0	0	(43)
Acquisitions, net of cash acquired	0	(3)	(28)
Sales of (investment in) shares in equity investment	0	0	0
Advances to Old Hertz Holdings		0	0
Repayments from Old Hertz Holdings			0
Net cash provided by (used in) investing activities	(87)	216	(144)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	0	0	0
Repayments of vehicle debt	0	0	0
Proceeds from issuance of non-vehicle debt	0	0	0
Repayments of non-vehicle debt	0	0	0
Payment of financing costs	(3)	(3)	(3)
Early redemption premium payment	0
Transfers from discontinued entities	0	0	0
Capital contributions received from parent	0	0	0
Loan to Parent/Guarantor from Non-Guarantor	0	0	0
Payment of dividends and return of capital	0	0	0
Advances to Hertz Global/Old Hertz Holdings	0	0
Other	0		0
Net cash provided by (used in) financing activities	(3)	(3)	(3)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	0	0	0
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	(5)	7	4
Cash and cash equivalents at beginning of period	17	10	6
Cash and cash equivalents at end of period	12	17	10
Cash flows provided by (used in) operating activities	59	356	382
Cash flows provided by (used in) investing activities	(75)	(447)	(291)
Cash flows provided by (used in) financing activities	44	87	(87)
Effect of foreign currency exchange rate changes on cash and cash equivalents of discontinued operations		0	0
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	28	(4)	4
Guarantor Subsidiaries \| Vehicle Related Service
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	(3)	1	11
Guarantor Subsidiaries \| Non-Vehicle Related Service
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	0	3
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	5,151	4,896	4,291
Cash flows from investing activities:
Revenue earning vehicles expenditures	(10,546)	(10,859)	(9,442)
Proceeds from disposal of revenue earning vehicles	8,347	8,452	6,877
Capital asset expenditures, non-vehicle	(38)	(90)	(107)
Proceeds from disposal of property and other equipment	23	43	31
Capital contributions to subsidiaries	0	0	0
Return of capital from subsidiaries	0	0	0
Loan to Parent/Guarantor from Non-Guarantor	(1,055)	(737)	(437)
Acquisitions, net of cash acquired	(2)	(75)	(47)
Sales of (investment in) shares in equity investment	267	236	(30)
Advances to Old Hertz Holdings		0	0
Repayments from Old Hertz Holdings			0
Net cash provided by (used in) investing activities	(2,953)	(2,847)	(2,890)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	8,976	7,503	4,383
Repayments of vehicle debt	(9,041)	(7,079)	(4,507)
Proceeds from issuance of non-vehicle debt	0	0	0
Repayments of non-vehicle debt	0	0	0
Payment of financing costs	(26)	(22)	(48)
Early redemption premium payment	0
Transfers from discontinued entities	0	163	0
Capital contributions received from parent	2,632	2,831	1,651
Loan to Parent/Guarantor from Non-Guarantor	0	0	43
Payment of dividends and return of capital	(4,663)	(5,601)	(2,759)
Advances to Hertz Global/Old Hertz Holdings	0	0
Other	0		0
Net cash provided by (used in) financing activities	(2,122)	(2,205)	(1,237)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	(8)	(28)	(30)
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	68	(184)	134
Cash and cash equivalents at beginning of period	278	462	328
Cash and cash equivalents at end of period	346	278	462
Cash flows provided by (used in) operating activities	148	200	134
Cash flows provided by (used in) investing activities	(2)	62	(136)
Cash flows provided by (used in) financing activities	(138)	(266)	0
Effect of foreign currency exchange rate changes on cash and cash equivalents of discontinued operations		(3)	(1)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	8	(7)	(3)
Non-Guarantor Subsidiaries \| Vehicle Related Service
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	52	195	265
Non-Guarantor Subsidiaries \| Non-Vehicle Related Service
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	(1)	(12)
The Hertz Corporation
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	2,530	2,776	2,941
Cash flows from investing activities:
Revenue earning vehicles expenditures	(10,957)	(11,386)	(9,814)
Proceeds from disposal of revenue earning vehicles	8,764	8,796	7,167
Capital asset expenditures, non-vehicle	(134)	(250)	(331)
Proceeds from disposal of property and other equipment	59	107	78
Capital contributions to subsidiaries	0	0	0
Return of capital from subsidiaries	0	0	0
Loan to Parent/Guarantor from Non-Guarantor	0	0	0
Acquisitions, net of cash acquired	(2)	(95)	(75)
Sales of (investment in) shares in equity investment	222	236	(30)
Advances to Old Hertz Holdings	0	(267)	(28)
Repayments from Old Hertz Holdings	0	0	25
Net cash provided by (used in) investing activities	(1,996)	(2,647)	(2,759)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	9,692	7,528	4,410
Repayments of vehicle debt	(9,748)	(7,079)	(4,523)
Proceeds from issuance of non-vehicle debt	2,592	1,867	2,480
Repayments of non-vehicle debt	(4,651)	(2,112)	(2,457)
Payment of financing costs	(75)	(29)	(63)
Early redemption premium payment	(27)	0	0
Transfers from discontinued entities	2,122	68	77
Capital contributions received from parent	0	0	0
Loan to Parent/Guarantor from Non-Guarantor	0	0	0
Payment of dividends and return of capital	0	0	0
Advances to Hertz Global/Old Hertz Holdings	(102)	(344)	0
Other	13	0	2
Net cash provided by (used in) financing activities	(184)	(101)	(74)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	(8)	(28)	(30)
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	342	0	78
Cash and cash equivalents at beginning of period	474	474	396
Cash and cash equivalents at end of period	816	474	474
Cash flows provided by (used in) operating activities	207	556	516
Cash flows provided by (used in) investing activities	(77)	(385)	(427)
Cash flows provided by (used in) financing activities	(94)	(179)	(87)
Effect of foreign currency exchange rate changes on cash and cash equivalents of discontinued operations	0	(3)	(1)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	36	(11)	1
The Hertz Corporation \| Vehicle Related Service
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	53	221	249
The Hertz Corporation \| Non-Vehicle Related Service
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	$ (1)	$ (9)	$ 0

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Balance Sheet) (Details) - USD ($) $ / shares in Units, $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
ASSETS
Cash and cash equivalents	$ 816	$ 474	$ 474	$ 396
Assets of discontinued operations	0	3,395
Total assets	19,155	23,514
Equity:
Preferred Stock, $0.01 par value, no shares issued and outstanding	0	0
Common Stock, $0.01 par value, 85 and 464 shares issued and 83 and 423 shares outstanding	1	4
Additional paid-in capital	2,227	3,343
Accumulated deficit	(882)	(391)
Accumulated other comprehensive income (loss)	(171)	(245)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,175	2,711
Treasury Stock, at cost, 2 shares and 41 shares	(100)	(692)
Total equity	$ 1,075	$ 2,019
Preferred Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, shares issued	0	0
Preferred Stock, shares outstanding	0	0
Common Stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common Stock, shares issued	85,000,000	464,000,000
Common Stock, shares outstanding	83,000,000	423,000,000
Treasury stock, shares	2,000,000	41,000,000
Hertz Global Holdings
ASSETS
Cash and cash equivalents	$ 0	$ 0	$ 0	$ 0
Investments in subsidiaries	1,075	1,948
Assets of discontinued operations	0	71
Total assets	1,075	2,019
Equity:
Preferred Stock, $0.01 par value, no shares issued and outstanding	0	0
Common Stock, $0.01 par value, 85 and 464 shares issued and 83 and 423 shares outstanding	1	4
Additional paid-in capital	2,227	3,343
Accumulated deficit	(882)	(391)
Accumulated other comprehensive income (loss)	(171)	(245)
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest	1,175	2,711
Treasury Stock, at cost, 2 shares and 41 shares	(100)	(692)
Total equity	$ 1,075	$ 2,019
Preferred Stock, par value (in dollars per share)		$ 0.01
Preferred Stock, shares authorized	40,000,000	200,000,000
Preferred Stock, shares issued		0
Preferred Stock, shares outstanding		0
Common Stock, shares authorized	400,000,000	2,000,000,000

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Statement of Operations) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Revenues	$ 2,009	$ 2,542	$ 2,270	$ 1,983	$ 2,027	$ 2,575	$ 2,317	$ 2,098	$ 8,803	$ 9,017	$ 9,475
Expenses:
Interest expense, net									624	599	617
Total expenses									9,273	8,885	9,706
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(466)	108	(35)	(76)	(52)	256	38	(109)	(470)	132	(231)
Income tax (provision) benefit									(4)	(17)	17
Net income (loss) from continuing operations									(474)	115	(214)
Net income (loss) from discontinued operations									(17)	158	132
Net income (loss)	$ (438)	$ 44	$ (28)	$ (52)	$ (37)	$ 217	$ 13	$ (78)	(491)	273	(82)
Hertz Global Holdings
Condensed Financial Statements, Captions [Line Items]
Revenues									0	0	0
Expenses:
Interest expense, net									1	0	0
Total expenses									1	0	0
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries									(1)	0	0
Income tax (provision) benefit									0	0	0
Equity in earnings (losses) of subsidiaries, net of tax									(488)	276	(78)
Net income (loss) from continuing operations									(489)	276	(78)
Net income (loss) from discontinued operations									(2)	(3)	(4)
Net income (loss)									$ (491)	$ 273	$ (82)

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Net income (loss)	$ (438)	$ 44	$ (28)	$ (52)	$ (37)	$ 217	$ 13	$ (78)	$ (491)	$ 273	$ (82)
Other comprehensive income (loss), net of tax									(29)	(130)	(121)
Comprehensive income (loss)									(520)	143	(203)
Hertz Global Holdings
Condensed Financial Statements, Captions [Line Items]
Net income (loss)									(491)	273	(82)
Other comprehensive income (loss), net of tax									(29)	(130)	(121)
Comprehensive income (loss)									$ (520)	$ 143	$ (203)

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Cash Flows) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 2,529	$ 2,776	$ 2,941
Cash flows from investing activities:
Net cash provided by (used in) investing activities	(1,996)	(2,380)	(2,756)
Cash flows from financing activities:
Purchase of treasury shares	(100)	(605)	0
Net cash provided by (used in) financing activities	(183)	(368)	(77)
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	342	0	78
Cash and cash equivalents at beginning of period	474	474	396
Cash and cash equivalents at end of period	816	474	474
Hertz Global Holdings
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(1)	0	0
Cash flows from investing activities:
Advances to Hertz Global/Old Hertz Holdings	0	(7)	(5)
Net cash provided by (used in) investing activities	0	(7)	(5)
Cash flows from financing activities:
Cash received from the exercise of stock options	11	5	19
Net settlement on vesting of restricted stock	(2)	(4)	(17)
Purchase of treasury shares	(100)	(605)	0
Repayments from Old Hertz Holdings	102	611	28
Advances to Old Hertz Holdings	(10)	0	(25)
Net cash provided by (used in) financing activities	1	7	5
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	0	0	0
Cash and cash equivalents at beginning of period	0	0	0
Cash and cash equivalents at end of period	0	0	0
Supplemental disclosures of cash flow information for continuing operations:
Settlement of amount due to affiliate	$ 334	$ 365	$ 0

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Dividends) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Hertz Global Holdings
Condensed Financial Statements, Captions [Line Items]
Settlement of amount due to affiliate	$ 334	$ 365	$ 0
The Hertz Corporation
Condensed Financial Statements, Captions [Line Items]
Settlement of amount due to affiliate	$ 334	$ 365	$ 0

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Share Repurchase) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Jun. 30, 2016	Dec. 31, 2015	Mar. 31, 2014
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount		$ 395,400,000.0
Treasury stock, shares	2,000,000		41,000,000
Treasury Stock, Value	$ 100,000,000		$ 692,000,000
Hertz Global Holdings
Equity, Class of Treasury Stock [Line Items]
Stock repurchase program, authorized amount				$ 1,000,000,000
Treasury stock acquired (in shares)	37,000,000
Treasury stock acquired, value	$ 605,000,000
Treasury Stock, Value	$ 100,000,000		$ 692,000,000

SCHEDULE I CONDENSED FINANCIAL INFORMATION OF REGISTRANT (Transactions with Affiliates) (Details) - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Jun. 30, 2016	Nov. 30, 2015	Aug. 31, 2015
Condensed Financial Statements, Captions [Line Items]
Due from related parties							$ 425
Affiliated Entity
Condensed Financial Statements, Captions [Line Items]
Due from related parties			$ (345)			$ 650
Due to related parties	$ 345	$ 345
Advances to Old Hertz Holdings	(334)
Affiliated Entity \| Master Loan Agreement
Condensed Financial Statements, Captions [Line Items]
Due from related parties	102	102			$ 425
Affiliated Entity \| Tax Related Liability
Condensed Financial Statements, Captions [Line Items]
Due from related parties	$ 65	65
Hertz Global Holdings
Condensed Financial Statements, Captions [Line Items]
Non-cash dividend paid to affiliate		334	365	$ 0
Advances to Old Hertz Holdings		$ (10)	$ 0	$ (25)

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Receivables allowances:
Valuation Allowance for Impairment of Recognized Servicing Assets [Roll Forward]
Balance at Beginning of Period	$ 36	$ 40	$ 42
Additions, Charged to Expense	51	36	38
Additions, Translation Adjustments	(2)	(1)	(1)
Deductions	(43)	(39)	(39)
Balance at End of Period	42	36	40
Tax valuation allowances:
Valuation Allowance for Impairment of Recognized Servicing Assets [Roll Forward]
Balance at Beginning of Period	148	222	262
Additions, Charged to Expense	83	(47)	16
Additions, Translation Adjustments	(1)	(27)	(19)
Deductions	0	0	(37)
Balance at End of Period	$ 230	$ 148	$ 222

Employee Retirement Benefits (Fair Value of Plan Assets) (Details) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
U.S. Plan
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	$ 459	$ 575	$ 619
U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	3	2
U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	456	573
Pension Benefits - Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	188	200	$ 212
Pension Benefits - Non-U.S. \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	182	195
Cash \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	3	2
Cash \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Short Term Investments \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Short Term Investments \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	5
US Large Cap Equity Securities \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
US Large Cap Equity Securities \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	135	158
US Mid Cap Equity Securities \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
US Mid Cap Equity Securities \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	36	36
US Small Cap Equity Securities \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
US Small Cap Equity Securities \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	30	45
International Large Cap \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
International Large Cap \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	77	96
International Emerging Markets \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
International Emerging Markets \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	23	29
Asset-Backed Securities \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Asset-Backed Securities \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	6	5
US Treasuries \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
US Treasuries \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	46	61
Corporate Bonds \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Corporate Bonds \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	88	110
Government Bonds \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Government Bonds \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	6	9
Municipal Bonds \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Municipal Bonds \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	11	10
Real Estate Bonds \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Real Estate Bonds \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	8	9
Diversified Growth Funds \| Pension Benefits - Non-U.S. \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	65	75
U.K. Equities \| Pension Benefits - Non-U.S. \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	24	25
Overseas Equities \| Pension Benefits - Non-U.S. \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	29	31
Foreign Overseas Corporate Bond Securities \| Pension Benefits - Non-U.S. \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	20	20
Index-Linked Gilts-Stocks \| Pension Benefits - Non-U.S. \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	44	44
Amounts associated with discontinued operations (yet to be transferred) \| U.S. Plan \| Level 1
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	0	0
Amounts associated with discontinued operations (yet to be transferred) \| U.S. Plan \| Level 2
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	(10)	$ 0
U.K. \| Pension Benefits - Non-U.S.
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Total fair value of pension plan assets	$ 182