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Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2017	Oct. 31, 2017
Entity Information [Line Items]
Entity Registrant Name	HERTZ GLOBAL HOLDINGS, INC
Entity Central Index Key	0001657853
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		83,721,844
The Hertz Corporation
Entity Information [Line Items]
Entity Registrant Name	HERTZ CORP
Entity Central Index Key	0000047129
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Sep. 30, 2017
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		100

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Cash and cash equivalents	$ 748	$ 816
Restricted cash and cash equivalents:	1,029	278
Receivables:	1,524	1,283
Prepaid expenses and other assets	519	578
Revenue earning vehicles:
Vehicles	15,553	13,655
Less accumulated depreciation	(3,177)	(2,837)
Total revenue earning vehicles, net	12,376	10,818
Property and equipment:
Land, buildings and leasehold improvements	1,211	1,165
Service equipment and other	750	724
Less accumulated depreciation	(1,130)	(1,031)
Total property and equipment, net	831	858
Other intangible assets, net	3,234	3,332
Goodwill	1,083	1,081
Assets held for sale	0	111
Total assets	21,344	19,155
LIABILITIES AND EQUITY
Accounts payable:	954	821
Accrued liabilities	1,022	980
Accrued taxes, net	177	165
Debt:	15,919	13,541
Public liability and property damage	448	407
Deferred income taxes, net	1,958	2,149
Liabilities held for sale	0	17
Total liabilities	20,478	18,080
Commitments and contingencies
Equity:
Preferred Stock, $0.01 par value, no shares issued and outstanding	0	0
Common Stock	1	1
Additional paid-in capital	2,237	2,227
Accumulated deficit	(1,122)	(882)
Accumulated other comprehensive income (loss)	(150)	(171)
Stockholders' Equity before Treasury Stock	966	1,175
Treasury Stock, at cost, 2 shares and 2 shares	(100)	(100)
Total equity	866	1,075
Total liabilities and equity	21,344	19,155
Vehicles
ASSETS
Restricted cash and cash equivalents:	149	235
Receivables:	578	546
LIABILITIES AND EQUITY
Accounts payable:	204	258
Debt:	10,916	9,646
Non-vehicle
ASSETS
Restricted cash and cash equivalents:	880	43
Receivables:	946	737
LIABILITIES AND EQUITY
Accounts payable:	750	563
Debt:	5,003	3,895
The Hertz Corporation
ASSETS
Cash and cash equivalents	748	816
Restricted cash and cash equivalents:	1,029	278
Receivables:	1,524	1,283
Prepaid expenses and other assets	519	578
Revenue earning vehicles:
Vehicles	15,553	13,655
Less accumulated depreciation	(3,177)	(2,837)
Total revenue earning vehicles, net	12,376	10,818
Property and equipment:
Land, buildings and leasehold improvements	1,211	1,165
Service equipment and other	750	724
Less accumulated depreciation	(1,130)	(1,031)
Total property and equipment, net	831	858
Other intangible assets, net	3,234	3,332
Goodwill	1,083	1,081
Assets held for sale	0	111
Total assets	21,344	19,155
LIABILITIES AND EQUITY
Accounts payable:	954	821
Accrued liabilities	1,022	980
Accrued taxes, net	177	165
Debt:	15,919	13,541
Public liability and property damage	448	407
Deferred income taxes, net	1,959	2,149
Liabilities held for sale	0	17
Total liabilities	20,479	18,080
Commitments and contingencies
Equity:
Common Stock	0	0
Additional paid-in capital	3,160	3,150
Due from affiliate	(41)	(37)
Accumulated deficit	(2,104)	(1,867)
Accumulated other comprehensive income (loss)	(150)	(171)
Total equity	865	1,075
Total liabilities and equity	21,344	19,155
The Hertz Corporation \| Vehicles
ASSETS
Restricted cash and cash equivalents:	149	235
Receivables:	578	546
LIABILITIES AND EQUITY
Accounts payable:	204	258
Debt:	10,916	9,646
The Hertz Corporation \| Non-vehicle
ASSETS
Restricted cash and cash equivalents:	880	43
Receivables:	946	737
LIABILITIES AND EQUITY
Accounts payable:	750	563
Debt:	$ 5,003	$ 3,895

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
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	86,000,000	85,000,000
Common Stock, shares outstanding	84,000,000	83,000,000
Treasury Stock, shares repurchased	2,000,000	2,000,000
Non-vehicle
Receivables, allowance for doubtful accounts (in dollars)	$ 37	$ 42
The Hertz Corporation
Receivables, allowance for doubtful accounts (in dollars)	$ 37	$ 42
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

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Worldwide vehicle rental	$ 2,413	$ 2,390	$ 6,240	$ 6,353
All other operations	159	152	473	441
Total revenues	2,572	2,542	6,713	6,794
Expenses:
Direct vehicle and operating	1,348	1,353	3,735	3,778
Depreciation of revenue earning vehicles and lease charges, net	700	695	2,144	1,940
Selling, general and administrative	217	227	661	685
Total interest expense, net	176	156	465	480
Intangible asset impairments	0	0	86	0
Other (income) expense, net	(12)	3	19	(86)
Total expenses	2,429	2,434	7,110	6,797
Income (loss) from continuing operations before income taxes	143	108	(397)	(3)
Income tax (provision) benefit	(50)	(64)	108	(33)
Net income (loss) from continuing operations	93	44	(289)	(36)
Net income (loss) from discontinued operations	0	(2)	0	(15)
Net income (loss)	$ 93	$ 42	$ (289)	$ (51)
Weighted average shares outstanding:
Basic (in shares)	83	84	83	85
Diluted (in shares)	83	85	83	85
Earnings (loss) per share - basic and diluted:
Basic earnings (loss) per share from continuing operations (in dollars per share)	$ 1.12	$ 0.52	$ (3.48)	$ (0.42)
Basic earnings (loss) per share from discontinued operations (in dollars per share)	0.00	(0.02)	0.00	(0.18)
Basic earnings (loss) per share (in dollars per share)	1.12	0.50	(3.48)	(0.60)
Diluted earnings (loss) per share from continuing operations (in dollars per share)	1.12	0.52	(3.48)	(0.42)
Diluted earnings (loss) per share from discontinued operations (in dollars per share)	0.00	(0.03)	0.00	(0.18)
Diluted earnings (loss) per share (in dollars per share)	$ 1.12	$ 0.49	$ (3.48)	$ (0.60)
Vehicles
Expenses:
Total interest expense, net	$ 90	$ 72	$ 242	$ 211
Non-vehicle
Expenses:
Total interest expense, net	86	84	223	269
The Hertz Corporation
Revenues:
Worldwide vehicle rental	2,413	2,390	6,240	6,353
All other operations	159	152	473	441
Total revenues	2,572	2,542	6,713	6,794
Expenses:
Direct vehicle and operating	1,348	1,353	3,735	3,778
Depreciation of revenue earning vehicles and lease charges, net	700	695	2,144	1,940
Selling, general and administrative	217	227	661	685
Total interest expense, net	175	156	461	480
Intangible asset impairments	0	0	86	0
Other (income) expense, net	(12)	3	19	(86)
Total expenses	2,428	2,434	7,106	6,797
Income (loss) from continuing operations before income taxes	144	108	(393)	(3)
Income tax (provision) benefit	(50)	(64)	107	(33)
Net income (loss) from continuing operations	94	44	(286)	(36)
Net income (loss) from discontinued operations	0	(2)	0	(13)
Net income (loss)	94	42	(286)	(49)
The Hertz Corporation \| Vehicles
Expenses:
Total interest expense, net	90	72	242	211
The Hertz Corporation \| Non-vehicle
Expenses:
Total interest expense, net	$ 85	$ 84	$ 219	$ 269

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Net income (loss)	$ 93	$ 42	$ (289)	$ (51)
Other comprehensive income (loss):
Foreign currency translation adjustments	9	14	21	32
Unrealized holding gains (losses) on securities	0	3	0	11
Reclassification of realized gain on securities to other (income) expense	0	0	(3)	0
Reclassification of foreign currency items to other (income) expense, net	8	0	8	0
Net gain (loss) on defined benefit pension plans	(3)	0	(7)	(34)
Reclassification from other comprehensive income (loss) to selling, general and administrative expense for amortization of actuarial (gains) losses on defined benefit pension plans	1	2	3	7
Total other comprehensive income (loss) before income taxes	15	19	22	16
Income tax (provision) benefit related to net gains and losses on defined benefit pension plans	0	0	0	14
Income tax (provision) benefit related to reclassified amounts of net periodic costs on defined benefit pension plans	0	(1)	(1)	(3)
Total other comprehensive income (loss)	15	18	21	27
Total comprehensive income (loss)	108	60	(268)	(24)
The Hertz Corporation
Net income (loss)	94	42	(286)	(49)
Other comprehensive income (loss):
Foreign currency translation adjustments	9	14	21	32
Unrealized holding gains (losses) on securities	0	3	0	11
Reclassification of realized gain on securities to other (income) expense	0	0	(3)	0
Reclassification of foreign currency items to other (income) expense, net	8	0	8	0
Net gain (loss) on defined benefit pension plans	(3)	0	(7)	(34)
Reclassification from other comprehensive income (loss) to selling, general and administrative expense for amortization of actuarial (gains) losses on defined benefit pension plans	1	2	3	7
Total other comprehensive income (loss) before income taxes	15	19	22	16
Income tax (provision) benefit related to net gains and losses on defined benefit pension plans	0	0	0	14
Income tax (provision) benefit related to reclassified amounts of net periodic costs on defined benefit pension plans	0	(1)	(1)	(3)
Total other comprehensive income (loss)	15	18	21	27
Total comprehensive income (loss)	$ 109	$ 60	$ (265)	$ (22)

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Cash flows from operating activities:
Net income (loss)	$ (289)	$ (51)
Less: Net income (loss) from discontinued operations	0	(15)
Net income (loss) from continuing operations	(289)	(36)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation of revenue earning vehicles, net	2,089	1,887
Depreciation and amortization, non-vehicle	182	195
Amortization and write-off of deferred financing costs	32	31
Amortization and write-off of debt discount (premium)	1	5
Loss on extinguishment of debt	8	40
Stock-based compensation charges	16	16
Provision for receivables allowance	28	35
Deferred income taxes, net	(138)	11
Impairment charges and asset write-downs	116	31
(Gain) loss on sale of shares in equity investment	(3)	(75)
(Gain) loss on sale of Brazil Operations	(6)	0
Other	(12)	0
Changes in assets and liabilities
Non-vehicle receivables	(184)	(171)
Prepaid expenses and other assets	(25)	(14)
Non-vehicle accounts payable	140	25
Accrued liabilities	(5)	16
Accrued taxes, net	9	23
Public liability and property damage	18	32
Net cash provided by (used in) operating activities	1,977	2,051
Cash flows from investing activities:
Revenue earning vehicles expenditures	(8,683)	(8,710)
Proceeds from disposal of revenue earning vehicles	5,285	6,420
Capital asset expenditures, non-vehicle	(124)	(99)
Proceeds from disposal of property and other equipment	18	53
Proceeds from sale of Brazil Operations, net of retained cash	94	0
Sales of shares in equity investment, net of amounts invested	9	188
Other	(4)	0
Net cash provided by (used in) investing activities	(3,316)	(2,139)
Cash flows from financing activities:
Purchase of treasury shares	0	(100)
Payment of financing costs	(43)	(73)
Early redemption premium payment	(5)	(13)
Transfers from discontinued entities	0	2,122
Other	(1)	10
Net cash provided by (used in) financing activities	1,252	1,034
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	19	10
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	(68)	956
Cash and cash equivalents at beginning of period	816	474
Cash and cash equivalents at end of period	748	1,430
Cash flows from discontinued operations:
Cash flows provided by (used in) operating activities	0	205
Cash flows provided by (used in) investing activities	0	(77)
Cash flows provided by (used in) financing activities	0	(97)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	0	31
Cash paid during the period for:
Income taxes, net of refunds	40	35
Supplemental disclosures of non-cash flow information:
Purchases of revenue earning vehicles included in accounts payable and accrued liabilities, net of incentives	69	138
Sales of revenue earning vehicles included in receivables	443	603
Purchases of non-vehicle capital assets included in accounts payable	49	15
Receivable on sale of Brazil Operations	13	0
Revenue earning vehicles and property and equipment acquired through capital lease	24	16
Vehicles
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	89	11
Cash flows from financing activities:
Proceeds from issuance of debt	6,907	7,665
Repayments of debt	(5,887)	(7,320)
Cash paid during the period for:
Interest, net of amounts capitalized:	212	183
Non-vehicle
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle		(2)
Cash flows from financing activities:
Net change in restricted cash and cash equivalents, non-vehicle	(833)
Proceeds from issuance of debt	2,100	2,427
Repayments of debt	(986)	(3,684)
Cash paid during the period for:
Interest, net of amounts capitalized:	164	218
The Hertz Corporation
Cash flows from operating activities:
Net income (loss)	(286)	(49)
Less: Net income (loss) from discontinued operations	0	(13)
Net income (loss) from continuing operations	(286)	(36)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation of revenue earning vehicles, net	2,089	1,887
Depreciation and amortization, non-vehicle	182	195
Amortization and write-off of deferred financing costs	32	31
Amortization and write-off of debt discount (premium)	1	5
Loss on extinguishment of debt	8	40
Stock-based compensation charges	16	16
Provision for receivables allowance	28	35
Deferred income taxes, net	(137)	10
Impairment charges and asset write-downs	116	31
(Gain) loss on sale of shares in equity investment	(3)	(75)
(Gain) loss on sale of Brazil Operations	(6)	0
Other	(12)	1
Changes in assets and liabilities
Non-vehicle receivables	(184)	(171)
Prepaid expenses and other assets	(25)	(14)
Non-vehicle accounts payable	140	25
Accrued liabilities	(5)	16
Accrued taxes, net	9	23
Public liability and property damage	18	32
Net cash provided by (used in) operating activities	1,981	2,051
Cash flows from investing activities:
Revenue earning vehicles expenditures	(8,683)	(8,710)
Proceeds from disposal of revenue earning vehicles	5,285	6,420
Capital asset expenditures, non-vehicle	(124)	(99)
Proceeds from disposal of property and other equipment	18	53
Proceeds from sale of Brazil Operations, net of retained cash	94	0
Sales of shares in equity investment, net of amounts invested	9	188
Other	(4)	0
Net cash provided by (used in) investing activities	(3,316)	(2,139)
Cash flows from financing activities:
Payment of financing costs	(43)	(73)
Early redemption premium payment	(5)	(13)
Transfers from discontinued entities	0	2,122
Other	(1)	10
Advances to Hertz Holdings	(4)	(100)
Net cash provided by (used in) financing activities	1,248	1,034
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	19	10
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	(68)	956
Cash and cash equivalents at beginning of period	816	474
Cash and cash equivalents at end of period	748	1,430
Cash flows from discontinued operations:
Cash flows provided by (used in) operating activities	0	207
Cash flows provided by (used in) investing activities	0	(77)
Cash flows provided by (used in) financing activities	0	(94)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	0	36
Cash paid during the period for:
Income taxes, net of refunds	40	35
Supplemental disclosures of non-cash flow information:
Purchases of revenue earning vehicles included in accounts payable and accrued liabilities, net of incentives	69	138
Sales of revenue earning vehicles included in receivables	443	603
Purchases of non-vehicle capital assets included in accounts payable	49	15
Receivable on sale of Brazil Operations	13	0
Revenue earning vehicles and property and equipment acquired through capital lease	24	16
Non-cash dividend paid to affiliate	0	334
The Hertz Corporation \| Vehicles
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	89	11
Cash flows from financing activities:
Proceeds from issuance of debt	6,907	7,665
Repayments of debt	(5,887)	(7,320)
Cash paid during the period for:
Interest, net of amounts capitalized:	212	183
The Hertz Corporation \| Non-vehicle
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	(833)	(2)
Cash flows from financing activities:
Proceeds from issuance of debt	2,100	2,427
Repayments of debt	(986)	(3,684)
Cash paid during the period for:
Interest, net of amounts capitalized:	$ 164	$ 218

Background	9 Months Ended
Background	Sep. 30, 2017
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. New Hertz, or Hertz Global, is the “accounting successor” to Old Hertz Holdings. As such, the 2016 financial information of Hertz reflects the equipment rental business as a discontinued operation and the 2016 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.

Basis of Presentation and Recently Issued Accounting Pronouncements

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and Recently Issued Accounting Pronouncements

Basis of Presentation

The Company prepares its unaudited condensed consolidated financial statements in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year.

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.

The December 31, 2016 condensed consolidated balance sheet data was derived from audited financial statements, but does not include all disclosures required by U.S. GAAP. The information included in this Form 10-Q should be read in conjunction with information included in the Company's Form 10‑K for the year ended December 31, 2016 (the "2016 Form 10-K"), as filed with the Securities and Exchange Commission ("SEC") on March 6, 2017.

Principles of Consolidation

The unaudited condensed 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 unaudited condensed 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.

Out Of Period Adjustments

The Company identified a misstatement in its prior period financial statements, related to the income tax provision, that it corrected in the second quarter of 2017. The cumulative impact of the adjustment was an increase in net loss of approximately $10 million. There was no impact to pre-tax loss from continuing operations. The misstatement relates to an error in the tax provision for U.S. income of a foreign equity investment transaction for fiscal year 2016. The Company considered both quantitative and qualitative factors in assessing the materiality of the item and determined that the misstatement was not material to any prior period and not material to the nine months ended September 30, 2017.

Correction of Errors

The Company identified classification errors within the investing section of the condensed consolidated statement of cash flows for the nine months ended September 30, 2016. One of the errors related to the Company's Donlen operations and was previously disclosed in the Company's 2016 Form 10‑K. The second error related to the Company's operations in Brazil and was previously disclosed in the Company's Form 10-Q for the quarterly period ended June 30, 2017.

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 revised the accompanying condensed consolidated statement of cash flows for the nine months ended September 30, 2016 accordingly. Correction of the errors decreased both revenue earning vehicles expenditures and proceeds from disposals of revenue earning vehicles by $540 million for the nine months ended September 30, 2016 and did not impact total operating, investing or financing cash flows. These revisions had no impact on the Company's condensed consolidated balance sheet at December 31, 2016 or its condensed consolidated statement of operations for the three and nine months ended September 30, 2016.

Recently Issued Accounting Pronouncements

Adopted

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. The Company adopted this guidance in accordance with the effective date on January 1, 2017. The method of adoption with respect to the condensed consolidated balance sheet was a modified retrospective basis. Upon adoption, the Company recorded a deferred tax asset with an offsetting entry to the opening accumulated deficit to recognize net operating loss carryforwards, net of a valuation allowance, attributable to excess tax benefits on stock compensation that had not been previously recognized. Additionally, the Company has elected to continue to estimate forfeitures expected to occur.

The impact to the condensed consolidated opening balance sheet as of January 1, 2017 of adopting this guidance was as follows (in millions):

Hertz Global



	Deferred income taxes, net			Total liabilities			Accumulated deficit			Total equity		Total liabilities and equity
As of December 31, 2016	$	2,149		$	18,080		$	(882	)	$	1,075	$	19,155
Record deferred tax asset	(49		)	(49		)	49			49		—
As of January 1, 2017	$	2,100		$	18,031		$	(833	)	$	1,124	$	19,155

Hertz



	Deferred income taxes, net			Total liabilities			Accumulated deficit			Total equity		Total liabilities and equity
As of December 31, 2016	$	2,149		$	18,080		$	(1,867	)	$	1,075	$	19,155
Record deferred tax asset	(49		)	(49		)	49			49		—
As of January 1, 2017	$	2,100		$	18,031		$	(1,818	)	$	1,124	$	19,155

The method of adoption with respect to the condensed consolidated statement of operations and the condensed consolidated statements of cash flows pertaining to excess tax benefits or deficiencies is on a prospective basis. The method of adoption with respect to the condensed consolidated statements of cash flows pertaining to employee taxes paid is on a retrospective basis and adoption of the guidance did not impact the Company's 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 flows, 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, but are not limited to, 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 Company adopted this guidance early, as permitted, on a retrospective basis, on January 1, 2017. Adoption of this guidance did not impact the Company’s financial position, results of operations or cash flows.

Accounting for Goodwill Impairment

In January 2017, the FASB issued guidance that eliminates the second step of the two-step goodwill impairment test, which requires the determination of the implied fair value of goodwill to measure an impairment. Rather, a goodwill impairment charge will be calculated as the amount by which a reporting unit's carrying amount exceeds its fair value. An entity still has the option to perform the qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary. The Company adopted this guidance early, as permitted, on a prospective basis, on January 1, 2017. Adoption of this guidance did not impact the Company’s financial position, results of operations or cash flows.

Scope of Modification Accounting for Share-Based Payment Awards

In May 2017, the FASB issued guidance that amends the scope of modification accounting for share-based payment arrangements. The guidance describes the types of changes to the terms or conditions of share-based payment awards where modification accounting is required to be applied. Modification accounting is not required if the fair value, vesting conditions and classification of the awards are the same immediately before and after the modification. The Company adopted this guidance early, as permitted, on a prospective basis, in the second quarter of 2017. Adoption of this 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. 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 FASB has issued several amendments and updates to the new revenue standard (collectively, “Topic 606”), including guidance related to when an entity should recognize revenue gross as a principal or net as an agent and how an entity should identify performance obligations. As amended, Topic 606 is effective for annual and interim periods beginning after December 15, 2017, with early adoption permitted, and allows for full retrospective adoption applied to all periods presented or a modified retrospective adoption with the cumulative effect of initially applying the new guidance as an adjustment to the opening balance of retained earnings recognized at the date of initial application. The Company intends to adopt Topic 606 when effective on January 1, 2018 using a modified retrospective approach applied to all contracts. Prior periods will not be retrospectively adjusted. The Company has reached conclusions on several key accounting assessments related to its revenue recognition, however, it is still finalizing its assessment and quantifying the impacts that adoption of Topic 606 will have on the accounting for its loyalty programs, such as Hertz Gold Plus Rewards, as further described below. The Company is still in the process of determining the level of disaggregated revenue information that it will include in its disclosures and continues to evaluate its internal controls over financial reporting to ensure that controls are in place to prevent or detect material misstatements to the consolidated financial statements upon adoption of Topic 606.

Vehicle Rental Operations

The Company has concluded that revenue earned by operations for the rental of vehicles and from other forms of rental related activities, wherein an identified asset is transferred to the customer and the customer has the ability to control that asset, will be accounted for under Topic 606, effective January 1, 2018, until the adoption of the new lease guidance that replaces the existing lease guidance in U.S. GAAP, as described in more detail in the "Leases" disclosure below.

Recognition of revenue from other forms of rental related activities that represent a service will not be materially impacted by adoption of Topic 606.

Recognition of revenue earned through the licensing of the Hertz, Dollar and Thrifty brands under franchise agreements (“franchise fees”) is expected to remain consistent with current revenue recognition guidance except for initial and renewal franchise fees. Currently, initial franchise fees are recorded as deferred income when received and are recognized as revenue when all material upfront services and conditions related to the franchise fee have been substantially performed and renewal franchise fees are recognized as revenue when the license agreements are effective and collectability is reasonably assured. Upon adoption, revenue from initial and renewal franchise fees that relate to a future contract term, for franchises in effect as of January 1, 2018, will be deferred and recognized over the remaining contract term. However, this amount will not be material.

The Company believes that the most significant impact relates to its accounting for reward points earned by customers under its loyalty programs. Upon adoption of Topic 606, each transaction which generates reward points will result in the deferral of revenue equivalent to the retail value of the redemption of the loyalty reward points. The associated revenue will be recognized at the time the customer redeems the loyalty reward points. Under the current guidance, there is no revenue deferral and the Company records an expense associated with the incremental cost of providing the future rental at the time when the reward points are earned. The Company is in the process of quantifying the impact of adoption of Topic 606.

Fleet Leasing and Management Operations

The Company has concluded that revenue earned by operations for the leasing of vehicles and from other forms of rental related activities wherein an identified asset is transferred to the customer and the customer has the ability to control that asset will be accounted for under the existing lease guidance until the adoption of the new lease guidance, as described in more detail in the "Leases" disclosure below. Administration fees and service revenue attributable to the Company's Donlen operations will not be materially impacted by adoption of Topic 606.

Leases

In February 2016, the FASB issued guidance that replaces the existing lease guidance in U.S. GAAP. The new guidance (Topic "842") establishes a right-of-use (“ROU”) model that requires a lessee to record on the balance sheet a ROU asset and corresponding lease liability based on the present value of future lease payments for all leases with terms longer than 12 months. Leases will be classified as either finance or operating, with classification affecting the pattern of expense recognition in the income statement. Topic 842 also expands the requirements for lessees to record leases embedded in other arrangements. Additionally, enhanced quantitative and qualitative disclosures surrounding leases are required which provide financial statement users the ability to assess the amount, timing and uncertainty of cash flows arising from leases. Topic 842 is effective for annual periods beginning after December 15, 2018 and interim periods within those annual periods with early adoption permitted. The Company intends to adopt this guidance, in accordance with the effective date, on January 1, 2019. 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. The Company is still in the process of evaluating whether to avail itself of allowable practicable expedients during transition.

Lessee

Adoption of Topic 842 will result in a material increase in the Company's lease-related assets and liabilities on its balance sheet, primarily for leases of rental locations and other assets. Additionally, adoption of this guidance will impact the statement of cash flows with respect to the presentation of the Company's operating activities, but is not expected to impact its presentation of investing or financing activities. Adoption of Topic 842 is not expected to have a material impact on the Company’s results of operations. The Company has reached conclusions on key accounting assessments related to its leases and is performing an analysis of its lease portfolio to ensure proper application of the new guidance including implementation of internal controls over financial reporting.

Lessor

The Company has concluded that revenue earned by operations for the rental and leasing of vehicles and from other forms of rental related activities wherein an identified asset is transferred to the customer and the customer has the ability to control that asset is within the scope of this guidance and that additional disclosures regarding lease revenue are required upon adoption. The Company is in the process of evaluating the breakdown of its vehicle rental revenues into lease and non-lease components. There is no impact to the nature, timing or recognition of rental lease revenue upon adoption of this guidance.

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 and financing sections 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. Adoption of this guidance will impact the reconciliation of the beginning-of-period and end-of-period total amounts shown on the Company's statement of cash flows. For the nine months ended September 30, 2017, the amount of cash and cash equivalents as presented on the statement of cash flows will increase by $1.0 billion. Additionally, transfers between restricted and unrestricted cash will no longer be a component of the Company's investing or financing activities.

Clarifying the Definition of a Business

In January 2017, the FASB issued guidance that clarifies the definition of a business to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The guidance requires an evaluation of whether substantially all of the fair value of assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets. If so, the transaction does not qualify as a business. The guidance also requires an acquired business to include at least one substantive process and narrows the definition of outputs. The guidance is effective for annual periods beginning after December 15, 2017 and interim periods within those annual periods using a prospective transition method. Based on current operations, adoption of this guidance is not expected to impact the Company's financial position, results of operations or cash flows.

Clarifying the Scope of Nonfinancial Asset Derecognition and Accounting for Partial Sales of Nonfinancial Assets

In February 2017, the FASB issued guidance that clarifies the scope of the established guidance on nonfinancial asset derecognition as well as the accounting for partial sales of nonfinancial assets. The guidance is effective for annual reporting periods beginning after December 15, 2017 and interim periods within those annual periods. The new guidance may be adopted on either a full or modified retrospective basis. Based on current operations, adoption of this guidance is not expected to impact the Company's financial position, results of operations or cash flows.

Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost

In March 2017, the FASB issued guidance that requires entities to (1) disaggregate the current-service-cost component from the other components of net benefit cost (the “other components”) and present the current-service-cost component with other current compensation costs for related employees in the income statement and (2) present the other components elsewhere in the income statement and outside of income from operations if such a subtotal is presented. The guidance also requires entities to disclose the income statement lines that contain the other components if they are not presented on described separate lines. In addition, only the service-cost component of net benefit cost is eligible for capitalization, which is a change from current practice, under which entities capitalize the aggregate net benefit cost when applicable. The guidance is effective for annual reporting periods beginning after December 15, 2017 and interim periods within those annual periods. The guidance affecting the presentation of the components of net periodic benefit cost in the income statement requires use of the retrospective method of adoption and the guidance limiting the capitalization of net periodic benefit cost to the service cost component requires use of the prospective method of adoption. Adoption of this guidance will result in a reclassification of certain amounts from direct vehicle and operating expense and selling, general and administrative expense to other (income) expense, net which does not impact the Company's financial position, results of operations or cash flows. The Company does not expect the reclassified amounts to be material.

Discontinued Operations

9 Months Ended

Sep. 30, 2017

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.

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 in 2016:



(In millions)	Three Months Ended September 30, 2016			Nine Months Ended September 30, 2016
Total revenues	$	—		$	677
Direct operating expenses	—			366
Depreciation of revenue earning equipment and lease charges, net	—			181
Selling, general and administrative	—			123
Interest expense, net⁽¹⁾	—			17
Other (income) expense, net	—			(1		)
Income (loss) from discontinued operations before income taxes	—			(9		)
(Provision) benefit for taxes on discontinued operations	(2		)	(6		)
Net income (loss) from discontinued operations	$	(2	)	$	(15	)


(1)	In addition to interest expense directly associated with Herc Holdings, the Company allocated interest expense related to certain debt repaid in connection with the Spin-Off to discontinued operations. For the nine months ended September 30, 2016, the amount allocated was $5 million.

Results of Discontinued Operations - Hertz

The following table summarizes the results of the equipment rental business which is presented as discontinued operations in 2016:



(In millions)	Three Months Ended September 30, 2016			Nine Months Ended September 30, 2016
Total revenues	$	—		$	677
Direct operating expenses	—			366
Depreciation of revenue earning equipment and lease charges, net	—			181
Selling, general and administrative	—			124
Interest expense, net⁽¹⁾	—			13
Other (income) expense, net	—			(1		)
Income (loss) from discontinued operations before income taxes	—			(6		)
(Provision) benefit for taxes on discontinued operations	(2		)	(7		)
Net income (loss) from discontinued operations	$	(2	)	$	(13	)


(1)	In addition to interest expense directly associated with Herc Holdings, the Company allocated interest expense related to certain debt repaid in connection with the Spin-Off to discontinued operations. For the nine months ended September 30, 2016, the amount allocated was $5 million.

Acquisitions and Divestitures

9 Months Ended

Sep. 30, 2017

Business Combinations and Divestitures [Abstract]

Acquisitions and Divestitures

Divestitures

CAR Inc. Investment

In March 2016, the Company sold 204 million shares of common stock of CAR Inc., a publicly traded company on the Hong Kong Stock Exchange 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. The sale of shares resulted in a pre-tax gain of $75 million which has been recognized and recorded in the Company's corporate operations and is included in other (income) expense, net in the accompanying condensed consolidated statements of operations. 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 classifies the investment as an available for sale security which is presented within prepaid expenses and other assets in the accompanying condensed consolidated balance sheet as of December 31, 2016.

In February 2017, the Company sold its remaining shares of common stock of CAR Inc. and no longer has an ownership interest in the entity.

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 to sell Car Rental Systems do Brasil Locação 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. The Brazil Operations are reported in the Company's International Rental Car reporting segment. As a result of the then 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 the Brazil operations were classified as held for sale in the accompanying condensed consolidated balance sheet as of December 31, 2016.

The carrying amounts of the major classes of assets and liabilities of the Brazil Operations as of December 31, 2016 were 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

In August 2017, the Company completed the sale of its Brazil Operations to Localiza and received proceeds of $115 million, of which $13 million was placed in escrow to secure certain indemnification obligations. The proceeds from the sale are subject to post-closing adjustments. As a result of the sale, the Company recorded a $6 million gain, net of the impact of foreign currency adjustments, which is included in other (income) expense, net in the accompanying condensed consolidated statements of operations for the three and nine months ended September 30, 2017. As part of the sale, both companies entered into referral and brand cooperation agreements to govern their ongoing relationship which have an initial term of twenty years with an option to extend for another twenty years. The alliance will also involve the exchange of knowledge in areas of technology, customer service and operational excellence.

Revenue Earning Vehicles

9 Months Ended

Sep. 30, 2017

Revenue Earning Vehicles [Abstract]

Revenue Earning Vehicles

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



(In millions)	September 30, 2017			December 31, 2016
Revenue earning vehicles	$	15,055		$	13,287
Less: Accumulated depreciation	(3,036		)	(2,678		)
	12,019			10,609
Revenue earning vehicles held for sale, net	357			209
Revenue earning vehicles, net	$	12,376		$	10,818

The above amounts at December 31, 2016 exclude revenue earning vehicles of the Company's Brazil Operations which are included in assets held for sale in the accompanying condensed consolidated balance sheet at December 31, 2016. The Brazil Operations were sold in August 2017, as further described in Note 4, "Acquisitions and Divestitures".

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



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2017		2016		2017		2016
Depreciation of revenue earning vehicles	$	636	$	631	$	1,902	$	1,766
(Gain) loss on disposal of revenue earning vehicles^(a)	43		44		187		121
Rents paid for vehicles leased	21		20		55		53
Depreciation of revenue earning vehicles and lease charges, net	$	700	$	695	$	2,144	$	1,940

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



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2017		2016		2017		2016
U.S. Rental Car⁽ⁱ⁾	$	43	$	43	$	187	$	124
International Rental Car	—		1		—		(3		)
Total	$	43	$	44	$	187	$	121


(i)	Includes costs associated with the Company's U.S. vehicle sales operations of $36 million and $27 million for the three months ended September 30, 2017 and 2016, respectively, and $99 million and $80 million, for the nine months ended September 30, 2017 and 2016, 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)	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2017		2016		2017		2016
U.S. Rental Car^(a)	$	6	$	43	$	68	$	88
International Rental Car	4		1		5		3
Total	$	10	$	44	$	73	$	91

(a)

The depreciation rate changes in the U.S. Rental Car operations for the three and nine months ended September 30, 2017 include a decrease in depreciation expense of $15 million based on the review completed during the third quarter of 2017. The depreciation rate changes in the U.S. Rental Car operations for the three and nine months ended September 30, 2016 include a net increase in depreciation expense of $39 million based on the review completed during the third quarter of 2016.

Debt

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Debt

The Company's debt, including its available credit facilities, consists of the following (in millions):



Facility	Weighted Average Interest Rate at September 30, 2017	Fixed or Floating Interest Rate	Maturity	September 30, 2017			December 31, 2016
Non-Vehicle Debt
Senior Term Loan	3.99%	Floating	6/2023	$	691		$	697
Senior RCF	4.49%	Floating	6/2021	120			—
Senior Notes⁽¹⁾	6.22%	Fixed	4/2019–10/2024	2,950			3,200
Senior Second Priority Secured Notes	7.63%	Fixed	6/2022	1,250			—
Promissory Notes	7.00%	Fixed	1/2028	27			27
Other Non-Vehicle Debt	1.96%	Fixed	Various	9			10
Unamortized Debt Issuance Costs and Net (Discount) Premium				(44		)	(39		)
Total Non-Vehicle Debt				5,003			3,895



Facility	Weighted Average Interest Rate at September 30, 2017	Fixed or Floating Interest Rate	Maturity	September 30, 2017	December 31, 2016
Vehicle Debt
HVF U.S. Vehicle Medium Term Notes
HVF Series 2010-1⁽²⁾	4.96%	Fixed	2/2018	96	115
HVF Series 2011-1⁽²⁾	N/A	N/A	N/A	—	115
HVF Series 2013-1⁽²⁾	1.91%	Fixed	8/2018	625	625
				721	855
HVF II U.S. ABS Program
HVF II U.S. Vehicle Variable Funding Notes
HVF II Series 2013-A⁽²⁾	2.61%	Floating	1/2019	2,024	1,844
HVF II Series 2013-B⁽²⁾	2.51%	Floating	1/2019	186	626
HVF II Series 2017-A⁽²⁾	N/A	Floating	10/2018	—	—
				2,210	2,470
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⁾	2.45%	Fixed	9/2018	265	250
HVF II Series 2015-3⁽²⁾	3.10%	Fixed	9/2020	371	350
HVF II Series 2016-1⁽²⁾	2.89%	Fixed	3/2019	466	439
HVF II Series 2016-2⁽²⁾	3.41%	Fixed	3/2021	595	561
HVF II Series 2016-3⁽²⁾	2.72%	Fixed	7/2019	424	400
HVF II Series 2016-4⁽²⁾	3.09%	Fixed	7/2021	424	400
HVF II Series 2017-1⁽²⁾	3.38%	Fixed	10/2020	450	—
HVF II Series 2017-2⁽²⁾	3.57%	Fixed	10/2022	350	—
				4,125	3,180
Donlen ABS Program
HFLF Variable Funding Notes
HFLF Series 2013-2⁽²⁾	2.23%	Floating	9/2018	220	410
				220	410
HFLF Medium Term Notes
HFLF Series 2013-3⁽⁵⁾	N/A	N/A	N/A	—	96
HFLF Series 2014-1⁽⁵⁾	2.55%	Floating	10/2017-12/2017	49	148
HFLF Series 2015-1⁽⁵⁾	1.98%	Floating	10/2017-8/2019	173	248
HFLF Series 2016-1⁽⁵⁾	2.45%	Both	10/2017-5/2020	355	385
HFLF Series 2017-1⁽⁵⁾	2.24%	Both	6/2018-5/2020	500	—
				1,077	877



Facility	Weighted Average Interest Rate at September 30, 2017	Fixed or Floating Interest Rate	Maturity	September 30, 2017			December 31, 2016
Other Vehicle Debt
U.S. Vehicle RCF⁽³⁾	3.59%	Floating	6/2021	198			193
European Revolving Credit Facility	2.75%	Floating	1/2019	294			147
European Vehicle Notes⁽⁴⁾	4.29%	Fixed	1/2019–10/2021	763			677
European Securitization⁽²⁾	1.55%	Floating	10/2018	520			312
Canadian Securitization⁽²⁾	2.35%	Floating	1/2019	281			162
Australian Securitization⁽²⁾	3.11%	Floating	7/2018	133			117
New Zealand RCF	4.28%	Floating	9/2018	35			41
Capitalized Leases	2.78%	Floating	10/2017–12/2021	385			244
				2,609			1,893
Unamortized Debt Issuance Costs and Net (Discount) Premium				(46		)	(39		)
Total Vehicle Debt				10,916			9,646
Total Debt				$	15,919		$	13,541

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	September 30, 2017		December 31, 2016
4.25% Senior Notes due April 2018	$	—	$	250
6.75% Senior Notes due April 2019	450		450
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		800
	$	2,950	$	3,200


(2)	Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal 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 Hertz Holdings Netherlands B.V.'s, an indirect wholly-owned subsidiary of Hertz organized under the laws of The Netherlands (“HHN BV”), unsecured senior notes (converted from Euros to U.S. dollars at a rate of 1.17 to 1 and 1.04 to 1 as of September 30, 2017 and December 31, 2016, respectively) 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	September 30, 2017		December 31, 2016
4.375% Senior Notes due January 2019 (€425 million aggregate principal amount)	$	499	$	443
4.125% Senior Notes due October 2021 (€225 million aggregate principal amount)	264		234
	$	763	$	677

(5)

In the case of the Hertz Fleet Lease Funding LP ("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 October 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.

In June 2017, the Company redeemed all $250 million of its outstanding 4.25% Senior Notes due April 2018 and terminated $150 million of commitments under the senior secured revolving credit facility ("Senior RCF"), as further described below, and recorded $8 million of charges for early redemption premiums and the write off of deferred financing costs.

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.

As of September 30, 2017, approximately $2.1 billion of vehicle debt and $16 million of non-vehicle debt was due to mature between October 1, 2017 and September 30, 2018 and the Company was in compliance with its financial maintenance covenant under the Senior RCF, see "Covenant Compliance" below.

In November 2017, the Company amended its Senior Facilities (as defined below), terminated $383 million of commitments under the Senior RCF, entered into a standalone $400 million letter of credit facility (the “Letter of Credit Facility”), extended the maturities of several vehicle debt facilities and provided an irrevocable notice to the holders of its $450 million in aggregate principal amount of outstanding 6.75% Senior Notes due 2019 (the “2019 Notes”) of its election to redeem in full all of the outstanding 2019 Notes and deposited funds with the trustee under the indenture governing the 2019 Notes to effect such redemption on the redemption date, as further described in Note 19, "Subsequent Events." The amendment to the Senior Facilities, together with the aforementioned commitment reductions under the Senior RCF, created immediate debt incurrence capacity of $542 million under the $2.4 billion credit facilities basket contained in the Senior Facilities as long as such debt incurred is, among other things, junior to the Company’s first-lien debt. If the Company elects to utilize such capacity, the proceeds from such newly incurred debt would not be required to be used to refinance debt and may be used for working capital, capital expenditures and other purposes of the Company and its subsidiaries. To the extent the Company elects to utilize the Letter of Credit Facility for letters of credit issued, or relating to liabilities or obligations incurred, in the ordinary course of business, the Company would further increase such debt incurrence capacity, and the proceeds of any debt that the Company elects to incur utilizing such additional capacity would also be available for working capital, capital expenditures and other purposes of the Company and its subsidiaries. Availability under the Letter of Credit Facility is limited to an amount equal to the amount of commitments terminated under the Senior RCF. Subsequent to the completion of the aforementioned transactions in November 2017, approximately $1.7 billion of vehicle debt and $23 million of non-vehicle debt is due to mature prior to September 30, 2018. The Company has reviewed its debt facilities that will mature within this timeframe and determined that it is probable that the Company will be able, and has the intent, to refinance these facilities at such times as the Company determines appropriate prior to their maturities.

Non-Vehicle Debt

Senior Facilities

In June 2017, Hertz terminated $150 million of commitments under the Senior RCF, such that after giving effect to such termination the Senior RCF consists of a $1.55 billion senior secured revolving credit facility.

In February 2017, certain terms of the credit agreement governing the $700 million senior secured term facility (the "Senior Term Loan") and the Senior RCF (together with the Senior Term Loan, the "Senior Facilities") were amended with the consent of the required lenders under such credit agreement. The amendment, among other things, (i) amended 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) provided that Hertz shall not make dividends and certain restricted payments unless a leverage ratio test is satisfied, (iii) added a new covenant restricting the incurrence of certain corporate indebtedness, (iv) capped 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 and (v) amended certain financial definitions relating to the foregoing.

Senior Notes

In June 2017, Hertz redeemed all $250 million of its outstanding 4.25% Senior Notes due April 2018 (the "April 2018 Notes").

Senior Second Priority Secured Notes

In June 2017, Hertz issued $1.25 billion in aggregate principal amount of 7.625% Senior Second Priority Secured Notes due 2022 (the "Senior Second Priority Secured Notes"), the proceeds of which are restricted under the terms of the credit agreement governing the Senior Facilities, primarily related to the repayment of indebtedness. In June 2017, the Company utilized approximately $266 million of the proceeds to pay the outstanding principal and early redemption premium in connection with the redemption of the April 2018 Notes and fees and expenses in connection with the issuance of the Senior Second Priority Secured Notes. In June 2017, the Company also exercised its right to reduce the amount of available commitments under its Senior RCF by $150 million. As of September 30, 2017, approximately $833 million in proceeds remained from the issuance of the Senior Second Priority Secured Notes and is included in restricted cash and cash equivalents, non-vehicle in the accompanying condensed consolidated balance sheet.

Vehicle Debt

HVF II U.S. Vehicle Variable Funding Notes

HVF II Series 2017-A Notes: In May 2017, Hertz Vehicle Financing II LP, a bankruptcy remote, indirect, wholly owned, special purpose subsidiary of Hertz ("HVF II") issued the Series 2017-A Variable Funding Rental Car Asset Backed Notes (the “HVF II Series 2017-A Notes”) with an aggregate maximum principal amount of $500 million and a maturity date of October 2018.

HVF II Series 2013 Notes: In February 2017, HVF II extended the maturities of the HVF II Series 2013-A Notes and the HVF II Series 2013-B (the "HVF II Series 2013 Notes") Notes from October 2017 to January 2019. In April 2017, HVF II increased the commitments of the HVF II Series 2013 Notes by $250 million. In June 2017, HVF II transitioned approximately $300 million of commitments available under the HVF II Series 2013-B Notes to the HVF Series 2013-A Notes. After giving effect to the above transactions, the aggregate maximum principal amount of the HVF II Series 2013-A Notes and HVF II 2013-B Notes was approximately $3.4 billion and $291 million, respectively. In September 2017, the net proceeds from the issuance of the HVF II Series 2017-1 Notes and HVF II Series 2017-2 Notes (as defined below) were used to repay $770 million of the outstanding principal amount of the HVF II Series 2013-A Notes.

HVF II U.S. Vehicle Medium Term Notes

HVF II Series 2017-1 Notes and HVF II Series 2017-2 Notes: In September 2017, HVF II issued the Series 2017-1 Rental Car Asset Backed Notes, Class A, Class B, Class C, and Class D (collectively, the "HVF II Series 2017-1 Notes") and the Series 2017-2 Rental Car Asset Backed Notes, Class A, Class B, Class C, and Class D (collectively, the "HVF II Series 2017-2 Notes") in an aggregate principal amount of $820 million. There is subordination within the HVF II Series 2017-1 Notes and the HVF II Series 2017-2 Notes based on class. An affiliate of HVF II purchased the HVF II Series 2017-2 Class D Notes and as a result, approximately $20 million of the aggregate principal amount is eliminated in consolidation. Net proceeds from the issuance of the HVF II Series 2017-1 and HVF II Series 2017-2 Notes were used to reduce amounts outstanding under the HVF II Series 2013-A Notes.

HVF II Various Series Class D Notes: In August 2017, Hertz sold the below notes, which it had acquired at the time of the respective HVF II initial offerings and which were previously eliminated in consolidation, to third parties. The interest terms and the maturity of the notes sold remained consistent with the terms per the respective initial offerings. The Class D Notes are subordinate to the Class A Notes, the Class B Notes and the Class C Notes of their respective series.



(In millions)	Aggregate Principal Amount
HVF II Series 2015-2 Class D Notes	$	15
HVF II Series 2015-3 Class D Notes	21
HVF II Series 2016-1 Class D Notes	27
HVF II Series 2016-2 Class D Notes	34
HVF II Series 2016-3 Class D Notes	24
HVF II Series 2016-4 Class D Notes	24
Total	$	145

HFLF Medium Term Notes

HFLF Series 2016-1 Notes: In May 2017, Hertz sold approximately $15 million of the HFLF Series 2016-1 Class E Notes, which it had acquired at the time of the initial offering in April 2016 and which were previously eliminated in consolidation, to third parties. The interest terms and the maturity of the notes sold remained consistent with the terms per the initial offering. The HFLF Series 2016-1 Class E Notes are subordinate to the Class A Notes, the Class B Notes, the Class C and the Class D Notes of the series.

HFLF Series 2017-1 Notes: In April 2017, HFLF, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Donlen, issued the Series 2017-1 Asset-Backed Notes, Class A, Class B, Class C, Class D, and Class E (collectively, the “HFLF Series 2017-1 Notes”) in an aggregate principal amount of $500 million. There is subordination within the HFLF Series 2017-1 Notes based on class. The HFLF Series 2017-1 Notes are fixed rate, except for the Class A-1 Notes which are floating rate and carry an interest rate based upon a spread to one-month LIBOR. The proceeds of this issuance, together with available cash, were used to reduce amounts outstanding under the HFLF Series 2013-2 Notes.

Vehicle Debt-Other

European Revolving Credit Facility

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

Canadian Securitizations

In February 2017, TCL Funding Limited Partnership, a bankruptcy remote, indirect, wholly-owned, special purpose subsidiary of Hertz ("Funding LP") amended its securitization platform in Canada (the "Canadian Securitization") to extend the maturity of CAD$350 million aggregate maximum borrowings available from January 2018 to January 2019.

Capitalized Leases-U.K. Leveraged Financing

In February 2017, the capitalized lease financings outstanding in the United Kingdom ("U.K. Leveraged Financing") were amended to extend the maturity of £250 million aggregate maximum borrowings available from October 2017 to January 2019. In May 2017, the U.K. Leveraged Financing was amended to provide for aggregate maximum leasing capacity (subject to asset availability) of up to £287.5 million during the peak season, for a seasonal commitment period into September 2017. Following the expiration of the seasonal commitment period, aggregate maximum borrowings available under the U.K Leveraged Financing will revert to up to £250 million.

See also Note 19, "Subsequent Events " regarding financing transactions occurring subsequent to September 30, 2017.

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 September 30, 2017, and are presented net of any outstanding letters of credit:



(In millions)	Remaining Capacity		Availability Under Borrowing Base Limitation
Non-Vehicle Debt
Senior RCF	$	644	$	644
Total Non-Vehicle Debt	644		644
Vehicle Debt
U.S. Vehicle RCF	2		2
HVF II U.S. Vehicle Variable Funding Notes	1,955		—
HFLF Variable Funding Notes	280		5
European Revolving Credit Facility	—		—
European Securitization	20		—
Canadian Securitization	—		—
Australian Securitization	63		1
Capitalized Leases	—		—
New Zealand RCF	8		—
Total Vehicle Debt	2,328		8
Total	$	2,972	$	652

Letters of Credit

As of September 30, 2017, there were outstanding standby letters of credit totaling $799 million. Such letters of credit have been issued primarily to support the Company's insurance programs, vehicle rental concessions and leaseholds as well as to provide credit enhancement for its asset-backed securitization facilities. Of this amount $786 million was issued under the Senior RCF. As of September 30, 2017, none of the 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 September 30, 2017 and December 31, 2016, 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 $775 million and $454 million, respectively, primarily comprised of loans receivable and revenue earning vehicles, and total liabilities of $775 million and $454 million, respectively, primarily comprised of debt.

Covenant Compliance

In February 2017, Hertz amended the terms of the financial maintenance covenant contained in the Senior RCF to test, when applicable, Hertz’s consolidated first lien net leverage ratio. The amended financial covenant provides that Hertz’s consolidated first lien net leverage ratio, as defined in the credit agreement governing the Senior RCF, as of the last day of any fiscal quarter (the "Covenant Leverage Ratio"), may not exceed the ratios indicated below:



Fiscal Quarter(s) Ending	Maximum Ratio
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

At September 30, 2017, Hertz was in compliance with the Covenant Leverage Ratio.

Goodwill and Intangible Assets	9 Months Ended
Goodwill and Intangible Assets	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill and Intangible Assets As a result of declines in revenue and profitability of the Company and a decline in the share price of Hertz Global's common stock, the Company tested the recoverability of its goodwill and indefinite-lived intangible assets as of June 30, 2017, as further described below. No events have occurred requiring the Company to test the recoverability of its goodwill and indefinite-lived intangible assets subsequent to its analysis at June 30, 2017. The Company will perform its annual impairment analysis of goodwill and indefinite-lived intangibles as of October 1, 2017 during the fourth quarter. Goodwill The Company performed a goodwill impairment analysis as of June 30, 2017 using the income approach, a measurement using level 3 inputs under the GAAP fair value hierarchy. In performing the impairment analysis, the Company leveraged long-term strategic plans, which are based on strategic initiatives for future profitability growth. The weighted average cost of capital used in the discounted cash flow model was calculated based upon the fair value of the Company's debt and stock price with a debt to equity ratio comparable to the vehicle rental car industry. The results of the Company's analysis indicated that the estimated fair value of each reporting unit was substantially in excess of its carrying value, therefore, the Company determined that its goodwill was not impaired. Intangible Assets The Company performed an impairment analysis as of June 30, 2017 of its indefinite-lived intangible assets using the relief from royalty method, a measurement using level 3 inputs under the GAAP fair value hierarchy. As a result of the analysis, the Company concluded that there was an impairment of the Dollar Thrifty tradename in its U.S. Rental Car segment and recorded a charge of $86 million. The impairment was largely due to a decrease in long-term revenue projections coupled with an increase in the weighted average cost of capital. Subsequent to recording the impairment charge, the carrying value of the Dollar Thrifty tradename was approximately $934 million, representing its estimated fair value. A change of 1 percentage point to the weighted average cost of capital assumption used in the impairment analysis would have impacted the impairment charge by approximately $80 million.

- 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

Employee Retirement Benefits

9 Months Ended

Sep. 30, 2017

Retirement Benefits [Abstract]

Employee Retirement Benefits

The following tables sets forth the net periodic pension expense:



	Pension Benefits
	U.S.						Non-U.S.
	Three Months Ended September 30,
(In millions)	2017			2016			2017			2016
Components of Net Periodic Benefit Cost:
Service cost	$	1		$	1		$	—		$	—
Interest cost	5			5			2			2
Expected return on plan assets	(7		)	(7		)	(3		)	(3		)
Net amortizations	1			2			—			—
Net periodic pension expense (benefit)	$	—		$	1		$	(1	)	$	(1	)



	Pension Benefits
	U.S.						Non-U.S.
	Nine Months Ended September 30,
(In millions)	2017			2016			2017			2016
Components of Net Periodic Benefit Cost:
Service cost	$	1		$	2		$	1		$	1
Interest cost	16			16			5			6
Expected return on plan assets	(20		)	(21		)	(8		)	(9		)
Net amortizations	3			6			1			—
Settlement loss	1			1			—			—
Net periodic pension expense (benefit)	$	1		$	4		$	(1	)	$	(2	)

Stock-Based Compensation

9 Months Ended

Sep. 30, 2017

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 recorded at the Hertz level.

Effective January 1, 2017, the Company's board of directors adopted the 2017 Executive Incentive Compensation Plan ("2017 EICP"). The provisions of the plan provide for the pay out of any bonus earned in either cash or performance stock units ("PSUs") for certain groups of employees. The decision regarding the form of payout will be made after the bonus has been earned and as such, the grant date of the PSUs is not established until vested. The potential PSU awards will be based on a monetary amount equivalent to a percentage of employees’ salaries that will be based on the achievement of specific performance metrics in 2017. The specific monetary amount will be calculated at the time of grant. The PSUs are intended to be granted in place of cash bonus awards and, therefore, qualify as equity awards. Compensation cost for these awards is recognized over the requisite service period based on the fair value of the award at the end of each reporting period. The Company calculates the anticipated number of awards to be granted based on the bonus dollars expected to be earned divided by the stock price as of the reporting date. The anticipated awards are used to estimate the compensation expense as of the reporting date. Compensation charges will accumulate as a liability until the grant date, at which time the liability will be reclassified to equity. During the three and nine months ended September 30, 2017, the Company recognized approximately $1 million and $5 million, respectively, of stock-based compensation expense associated with the 2017 EICP. The Company expects approximately 274,000 shares will be granted in connection with this program based on the Company’s stock price as of September 30, 2017.

Under the Hertz Global Holdings, Inc. 2016 Omnibus Incentive Plan, (the "2016 Omnibus Plan"), during the nine months ended September 30, 2017, Hertz Global granted 573,432 non-qualified stock options to certain executives and employees at a weighted average grant date fair value of $9.33 as determined using the Black Scholes option pricing model; 621,910 restricted stock units ("RSUs") at a weighted average grant date fair value of $19.20; 423,052 PSUs at a weighted average grant date fair value of $22.08 and 664,643 performance stock awards ("PSAs") at a weighted average grant date fair value of $22.19, with vesting terms of three to five years. None of the PSUs associated with the 2017 EICP plan are included in the grant amounts above. During the three and nine months ended September 30, 2017, the Company recognized approximately $3 million and $11 million, respectively, of stock-based compensation expense associated with the 2016 Omnibus Plan.

A summary of the total compensation expense and associated income tax benefits recognized under all plans, including the cost of stock options, RSUs, PSUs and PSAs is as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions)	2017			2016			2017			2016
Compensation expense	$	4		$	5		$	16		$	16
Income tax benefit	(2		)	(2		)	(6		)	(6		)
Total	$	2		$	3		$	10		$	10

As of September 30, 2017, there was $23 million of total unrecognized compensation cost related to non-vested stock options, RSUs, PSUs and PSAs granted by Hertz Global under all plans. The total unrecognized compensation cost is expected to be recognized over the remaining 1.6 years, on a weighted average basis, of the requisite service period that began on the grant dates.

Restructuring

9 Months Ended

Sep. 30, 2017

Restructuring and Related Activities [Abstract]

Restructuring

The Company continuously evaluates its workforce, product offerings and operations to determine when headcount reductions, business process re-engineering, asset impairments or outsourcing arrangements are necessary. There were no significant restructuring programs initiated during the three and nine months ended September 30, 2017.

Restructuring charges for the periods shown are as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2017		2016		2017		2016
By Type:
Termination benefits	$	—	$	7	$	3	$	23
Impairments and asset write-downs	—		28		—		31
Facility closure and lease obligation costs	—		2		—		7
Other	—		—		—		1
Total	$	—	$	37	$	3	$	62



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2017		2016		2017		2016
By Caption:
Direct vehicle and operating	$	—	$	29	$	—	$	38
Selling, general and administrative	—		8		3		24
Total	$	—	$	37	$	3	$	62



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2017		2016		2017		2016
By Segment:
U.S. Rental Car	$	—	$	30	$	1	$	51
International Rental Car	—		3		1		7
Corporate	—		4		1		4
Total	$	—	$	37	$	3	$	62

The following table sets forth the activity during the nine months ended September 30, 2017 affecting the restructuring accrual, which is included in accrued liabilities in the accompanying condensed consolidated balance sheets. The Company expects to pay the remaining restructuring obligations relating to termination benefits within the next two years. 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, 2016	$	13		$	14		$	27
Charges incurred	3			—			3
Cash payments	(8		)	(3		)	(11		)
Other non-cash changes	1			—			1
Balance as of September 30, 2017	$	9		$	11		$	20

Income Tax (Provision) Benefit	9 Months Ended
Income Tax (Provision) Benefit	Sep. 30, 2017
Income Tax Disclosure [Abstract]
Income Tax (Provision) Benefit	Income Tax (Provision) Benefit Hertz Global The effective tax rate for the three months ended September 30, 2017 and 2016 was (35)% and (59)%, respectively. The effective tax rate for the nine months ended September 30, 2017 and 2016 was 27% and (1,100)%, respectively. The Company recorded a tax provision of $50 million for the three months ended September 30, 2017, compared to $64 million for the three months ended September 30, 2016. The decrease was the result of composition of earnings and lower worldwide pre-tax income, and other discrete items in the period. The Company recorded a tax benefit of $108 million for the nine months ended September 30, 2017, compared to a provision of $33 million for the nine months ended September 30, 2016. The change was the result of composition of earnings and lower worldwide pre-tax income, and discrete items in the period, including the impact of the adoption of Employee Share-Based Payment Accounting guidance effective January 1, 2017 and the out of period adjustment recorded in second quarter of 2017, both of which are discussed in Note 2, "Basis of Presentation and Recently Issued Accounting Pronouncements". Hertz The effective tax rate for the three months ended September 30, 2017 and 2016 was (35)% and (59)%, respectively. The effective tax rate for the nine months ended September 30, 2017 and 2016 was 27% and (1,100)%, respectively. The Company recorded a tax provision of $50 million for the three months ended September 30, 2017, compared to $64 million for the three months ended September 30, 2016. The decrease was the result of composition of earnings and lower worldwide pre-tax income, and other discrete items in the period. The Company recorded a tax benefit of $107 million for the nine months ended September 30, 2017, compared to a provision of $33 million for the nine months ended September 30, 2016. The change was the result of composition of earnings and lower worldwide pre-tax income, and discrete items in the period, including the impact of the adoption of Employee Share-Based Payment Accounting guidance effective January 1, 2017 and the out of period adjustment recorded in second quarter of 2017, both of which are discussed in Note 2, "Basis of Presentation and Recently Issued Accounting Pronouncements".

Tangible Assets Impairments and Asset Write-downs	9 Months Ended
Tangible Assets Impairments and Asset Write-downs	Sep. 30, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Tangible Assets Impairments and Asset Write-downs	Tangible Asset Impairments and Asset Write-downs In the third quarter of 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 $26 million which is included in direct vehicle and operating expense in the accompanying consolidated statements of operations.

Fair Value Measurements

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Fair Value Measurements

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.

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 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:



	September 30, 2017								December 31, 2016
(In millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Money market funds	$	38	$	260	$	—	$	298	$	213	$	393	$	—	$	606
Equity and other securities	—		—		—		—		9		—		—		9
Total	$	38	$	260	$	—	$	298	$	222	$	393	$	—	$	615

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 September 30, 2017				As of December 31, 2016
(In millions)	Nominal Unpaid Principal Balance		Aggregate Fair Value		Nominal Unpaid Principal Balance		Aggregate Fair Value
Non-vehicle Debt	$	5,047	$	4,962	$	3,934	$	3,791
Vehicle Debt	10,962		10,946		9,685		9,670
Total	$	16,009	$	15,908	$	13,619	$	13,461

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



									Fair Value (Income)/Loss Adjustment
(In millions)	Fair Value		Level 1		Level 2		Level 3		Three Months Ended September 30, 2017			Nine Months Ended September 30, 2017
Brazil Operations	$	115	$	—	$	115	$	—	$	(6	)	$	(6	)
Equity method investments	$	8	$	—	$	—	$	8	$	(4	)	$	26
Intangible assets	$	934	$	—	$	—	$	934	$	—		$	86

Brazil Operations

The Company measured the assets and liabilities of its Brazil Operations at fair value as of March 31, 2017 and June 30, 2017, while held for sale, and recorded a gain of $4 million and a loss of $4 million, respectively. The Brazil Operations were sold in August 2017 and the Company recorded a pre-tax gain of $6 million as further described in Note 4, "Acquisitions and Divestitures."

Investments in Related Parties

Investments in related parties are accounted for under the equity method and are evaluated for impairment whenever events or changes in circumstances indicate that the carrying value of such assets may not be recoverable. The Company recognizes an impairment charge whenever there is a decline in value that is determined to be other than temporary.

In April 2016, the Company paid approximately $45 million for an equity method investment. In March 2017, the Company determined it had an other than temporary loss in value of its investment and recorded an impairment charge of $30 million which is included in other (income) expense in the accompanying condensed consolidated statement of operations for the nine months ended September 30, 2017. In September 2017, the investee was dissolved which resulted in a return of capital to the Company and a pre-tax gain of $4 million, which is included in other (income) expense, net in the accompanying condensed consolidated statement of operations for the three and nine months ended September 30, 2017. The amounts noted in the table above were attributable to the Company's Corporate operations and were therefore not recorded in the Company's operating segments.

Intangible Assets

In June 2017, the Company recorded impairment charges for the Dollar Thrifty tradename as further described in Note 6, "Goodwill and Intangible Assets".

- 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

Contingencies and Off-Balance Sheet Commitments	9 Months Ended
Contingencies and Off-Balance Sheet Commitments	Sep. 30, 2017
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 condensed 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 September 30, 2017 and December 31, 2016, the Company's liability recorded for public liability and property damage matters was $448 million and $407 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 and governmental investigations. The Company has summarized below the most significant legal proceedings to which the Company was and/or is a party to during the nine months ended September 30, 2017 or the period after September 30, 2017, but before the filing of this Report on Form 10‑Q. 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 elected not to file a petition seeking a non-mandatory further review by the United States Supreme Court, so this matter is now concluded. 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. On April 28, 2017, the court issued an order wherein Old Hertz Holdings' and the individual defendants' motions to dismiss were granted and the plaintiffs’ fourth amended complaint to add a new plaintiff was dismissed with prejudice (the “Order”). On May 30, 2017, the plaintiffs filed a Notice of Appeal with the U. S. Court of Appeals for the Third Circuit. The Third Circuit has now released a partial briefing schedule for this appeal with the plaintiffs' Opening Brief expected to be filed on or before November 29, 2017. 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, to that end, it has filed a Defense and Counterclaim. In addition, there have been detailed and intensive exchanges of documents by both parties and taking and exchanging of Witness Statements. The Court has decided to postpone the next hearing date to March/April 2018. In the meantime, the parties participated in a mediation in late July 2017 which resulted in no resolution being reached by the parties. The Company has established a reserve for the matter which is not material. 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 - an investigation that has since closed - 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 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 2003 to 2005 years. 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. In addition to the matters described above, the Company maintains an internal compliance program through which it from time to time identifies other potential violations of laws and regulations applicable to the Company. When the Company identifies such matters, the Company conducts an internal investigation and otherwise cooperates with governmental authorities, as appropriate. 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. These matters are 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 has 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. In connection with the Spin-Off, the Company executed an agreement with Herc Holdings that 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	9 Months Ended
Related Party Transactions	Sep. 30, 2017
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Agreements with the Icahn Group In the normal course of business, the Company purchases goods and services and leases property from entities controlled by Carl C. Icahn and his affiliates, including The Pep Boys - Manny, Moe & Jack. During the three and nine months ended September 30, 2017, the Company purchased approximately $3 million and $8 million, respectively, worth of goods and services from these related parties. Transactions between Hertz Holdings and Hertz On June 30, 2016, Hertz signed a master loan agreement with Hertz Holdings for a facility size of $425 million with an expiration in June 2017 (the "Old Master Loan"). The interest rate is based on the U.S. Dollar LIBOR rate plus a margin. In June 2017, upon expiration of the Old Master Loan, Hertz signed a new master loan agreement with Hertz Holdings for a facility size of $425 million with an expiration in June 2018 (the "Master Loan" and together with the Old Master Loan, the "Loan") where amounts outstanding under the Old Master Loan were transferred to the Master Loan. The interest rate is based on the U.S. Dollar LIBOR rate plus a margin. As of September 30, 2017 and December 31, 2016, there was $106 million and $102 million, respectively outstanding under the Loan representing advances and any accrued but unpaid interest. As of both periods ended September 30, 2017 and 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 condensed consolidated balance sheets of Hertz.

Earnings (Loss) Per Share - Hertz Global

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Earnings (Loss) Per Share - Hertz Global

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 9, "Stock-Based Compensation", the Company adopted the 2017 EICP on January 1, 2017. PSU awards issued under the 2017 EICP will be included in the denominator of diluted earnings (loss) per share when the required minimum threshold to receive the awards is met. There are no PSU awards issued under the 2017 EICP included in the computation of diluted earnings (loss) per share during the three and nine months ended September 30, 2017.

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



	Three Months Ended September 30,					Nine Months Ended September 30,
(In millions, except per share data)	2017		2016			2017			2016
Basic and diluted earnings (loss) per share:
Numerator:
Net income (loss) from continuing operations	$	93	$	44		$	(289	)	$	(36	)
Net income (loss) from discontinued operations	—		(2		)	—			(15		)
Net income (loss), basic	$	93	$	42		$	(289	)	$	(51	)
Denominator:
Basic weighted average common shares	83		84			83			85
Dilutive stock options, RSUs, PSUs and PSAs	—		1			—			—
Weighted average shares used to calculate diluted earnings per share	83		85			83			85
Antidilutive stock options, RSUs, PSUs and PSAs	3		1			3			2
Earnings (loss) per share:
Basic earnings (loss) per share from continuing operations	$	1.12	$	0.52		$	(3.48	)	$	(0.42	)
Basic earnings (loss) per share from discontinued operations	—		(0.02		)	—			(0.18		)
Basic earnings (loss) per share	$	1.12	$	0.50		$	(3.48	)	$	(0.60	)

Diluted earnings (loss) per share from continuing operations	$	1.12	$	0.52		$	(3.48	)	$	(0.42	)
Diluted earnings (loss) per share from discontinued operations	—		(0.03		)	—			(0.18		)
Diluted earnings (loss) per share	$	1.12	$	0.49		$	(3.48	)	$	(0.60	)

Segment Information

9 Months Ended

Sep. 30, 2017

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 sales of 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 sales of 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 and balance sheet information by segment for each of Hertz Global and Hertz, as well as adjusted pretax income (loss), the segment measure of profitability.



	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions)	2017			2016			2017			2016
Revenues
U.S. Rental Car	$	1,685		$	1,707		$	4,557		$	4,697
International Rental Car	728			683			1,683			1,656
All Other Operations	159			152			473			441
Total Hertz Global and Hertz	$	2,572		$	2,542		$	6,713		$	6,794
Depreciation of revenue earning vehicles and lease charges, net
U.S. Rental Car	$	455		$	462		$	1,478		$	1,298
International Rental Car	126			116			311			300
All Other Operations	119			117			355			342
Total Hertz Global and Hertz	$	700		$	695		$	2,144		$	1,940
Adjusted pre-tax income (loss)^(a)
U.S. Rental Car	$	158		$	173		$	5		$	312
International Rental Car	147			142			200			179
All Other Operations	20			19			59			53
Corporate	(137		)	(122		)	(371		)	(385		)
Total Hertz Global	188			212			(107		)	159
Corporate - Hertz	1			—			4			—
Total Hertz	$	189		$	212		$	(103	)	$	159



(In millions)	September 30, 2017		December 31, 2016
Total Assets
U.S. Rental Car	$	13,000	$	12,876
International Rental Car	4,706		3,578
All other operations	1,629		1,612
Corporate	2,009		1,089
Total Hertz Global and Hertz	$	21,344	$	19,155

(a)

Adjusted pre-tax income (loss), the Company's segment profitability measure, 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, intangible and tangible asset impairments and write downs and certain one-time charges and non-operational items.

Reconciliation of adjusted pre-tax income (loss) by segment to consolidated amounts are summarized below.

Hertz Global



	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions)	2017			2016			2017			2016
Adjusted pre-tax income (loss):
U.S. Rental Car	$	158		$	173		$	5		$	312
International Rental Car	147			142			200			179
All Other Operations	20			19			59			53
Total reportable segments	325			334			264			544
Corporate⁽¹⁾	(137		)	(122		)	(371		)	(385		)
Adjusted pre-tax income (loss)	188			212			(107		)	159
Adjustments:
Acquisition accounting⁽²⁾	(15		)	(16		)	(47		)	(49		)
Debt-related charges⁽³⁾	(12		)	(11		)	(33		)	(36		)
Loss on extinguishment of debt⁽⁴⁾	—			(20		)	(8		)	(40		)
Restructuring and restructuring related charges⁽⁵⁾	(2		)	(11		)	(14		)	(41		)
Sale of CAR Inc. common stock⁽⁶⁾	—			—			3			75
Impairment charges and asset write-downs⁽⁷⁾	—			(28		)	(116		)	(31		)
Finance and information technology transformation costs⁽⁸⁾	(15		)	(14		)	(55		)	(40		)
Other⁽⁹⁾	(1		)	(4		)	(20		)	—
Income (loss) before income taxes	$	143		$	108		$	(397	)	$	(3	)

Hertz



	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions)	2017			2016			2017			2016
Adjusted pre-tax income (loss):
U.S. Rental Car	$	158		$	173		$	5		$	312
International Rental Car	147			142			200			179
All Other Operations	20			19			59			53
Total reportable segments	325			334			264			544
Corporate⁽¹⁾	(136		)	(122		)	(367		)	(385		)
Adjusted pre-tax income (loss)	189			212			(103		)	159
Adjustments:
Acquisition accounting⁽²⁾	(15		)	(16		)	(47		)	(49		)
Debt-related charges⁽³⁾	(12		)	(11		)	(33		)	(36		)
Loss on extinguishment of debt⁽⁴⁾	—			(20		)	(8		)	(40		)
Restructuring and restructuring related charges⁽⁵⁾	(2		)	(11		)	(14		)	(41		)
Sale of CAR Inc. common stock⁽⁶⁾	—			—			3			75
Impairment charges and asset write-downs⁽⁷⁾	—			(28		)	(116		)	(31		)
Finance and information technology transformation costs⁽⁸⁾	(15		)	(14		)	(55		)	(40		)
Other⁽⁹⁾	(1		)	(4		)	(20		)	—
Income (loss) before income taxes	$	144		$	108		$	(393	)	$	(3	)


(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)

In 2017, represents $6 million of early redemption premium and write-off of deferred financing costs associated with the redemption of the outstanding 4.25% Senior Notes due April 2018 and a $2 million write-off of deferred financing costs associated with the termination of commitments under the Senior RCF incurred during the second quarter. In 2016, primarily represents the second quarter write-off of $18 million in deferred financing costs as a result of paying off the Senior Term Facility and various vehicle debt refinancings, as well as the third quarter early redemption premium of $13 million and write-off of $5 million in deferred financing costs associated with the redemption of all of the 7.50% Senior Notes.

(5)

Represents expenses incurred under restructuring actions as defined in U.S. GAAP, excluding impairments and asset write-downs, when applicable. For further information on restructuring costs, see Note 10, "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 consulting costs and legal fees related to the previously disclosed accounting review and investigation.


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


(7)	In 2017, primarily represents a second quarter $86 million impairment of the Dollar Thrifty tradename and a first quarter impairment of $30 million related to an equity method investment. In 2016, primarily represents the third quarter impairment of certain tangible assets used in the U.S. RAC segment in conjunction with a restructuring program.


(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)

Represents miscellaneous, non-recurring and other non-cash items. In 2017, includes a $6 million gain on the sale of the Company's Brazil Operations and a return of capital from an equity method investment resulting in a $4 million gain, offset by net expenses of $13 million associated with the impact of the hurricanes in the third quarter. Also includes second quarter charges of $5 million relating to PLPD as a result of a terrorist event. For 2016, includes a $9 million settlement gain recorded in the first quarter from an eminent domain case related to one of the Company's airport locations.

Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz

9 Months Ended

Sep. 30, 2017

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

Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz

The following condensed consolidating financial information presents the Condensed Consolidating Balance Sheets as of September 30, 2017 and December 31, 2016, the Condensed Consolidating Statements of Operations and Comprehensive Income (Loss) for the three and nine months ended September 30, 2017 and 2016 and the Statements of Cash Flows for the nine months ended September 30, 2017 and 2016 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 Senior Second Priority Secured Notes, 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.

During the preparation of the condensed consolidating financial information of The Hertz Corporation and Subsidiaries as of and for the three months ended March 31, 2017, it was determined that prepaid expenses and other assets, deferred income taxes, net, due from affiliates and due to affiliates, and the related eliminations at December 31, 2016 as filed in the Company’s 2016 Form 10-K were improperly calculated, resulting in a $915 million overstatement of prepaid expenses and other assets and due to affiliates of the Parent and an overstatement of due from affiliates and deferred income taxes, net of the Guarantor Subsidiaries. The errors, which the Company has determined are not material to this disclosure, had no impact on the net assets of the Parent or the Guarantor Subsidiaries and 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 Condensed Consolidating Balance Sheets for the Parent, Guarantor Subsidiaries and Eliminations as of December 31, 2016 to correct for these errors.

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING BALANCE SHEET

September 30, 2017

(In millions)



	Parent (The Hertz Corporation)		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			The Hertz Corporation & Subsidiaries
ASSETS
Cash and cash equivalents	$	456	$	13	$	279	$	—		$	748
Restricted cash and cash equivalents	877		4		148		—			1,029
Receivables, net of allowance	388		159		977		—			1,524
Due from affiliates	3,337		4,447		9,187		(16,971		)	—
Prepaid expenses and other assets	5,541		76		229		(5,327		)	519
Revenue earning vehicles, net	286		8		12,082		—			12,376
Property and equipment, net	625		63		143		—			831
Investment in subsidiaries, net	6,262		732		—		(6,994		)	—
Other intangible assets, net	126		3,097		11		—			3,234
Goodwill	102		943		38		—			1,083
Total assets	$	18,000	$	9,542	$	23,094	$	(29,292	)	$	21,344
LIABILITIES AND EQUITY
Due to affiliates	$	10,692	$	2,088	$	4,191	$	(16,971	)	$	—
Accounts payable	409		123		422		—			954
Accrued liabilities	570		78		374		—			1,022
Accrued taxes, net	91		22		3,352		(3,288		)	177
Debt	5,200		—		10,719		—			15,919
Public liability and property damage	173		45		230		—			448
Deferred income taxes, net	—		2,120		1,878		(2,039		)	1,959
Total liabilities	17,135		4,476		21,166		(22,298		)	20,479
Equity:
Stockholder's equity	865		5,066		1,928		(6,994		)	865
Total liabilities and equity	$	18,000	$	9,542	$	23,094	$	(29,292	)	$	21,344

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		3,823		9,750		(17,241		)	—
Prepaid expenses and other assets	4,821		83		199		(4,525		)	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	$	17,074	$	8,931	$	21,628	$	(28,478	)	$	19,155
LIABILITIES AND EQUITY
Due to affiliates	$	10,833	$	1,900	$	4,508	$	(17,241	)	$	—
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	—		2,065		1,797		(1,713		)	2,149
Liabilities held for sale	—		—		17		—			17
Total liabilities	15,999		4,219		19,628		(21,766		)	18,080
Equity:
Stockholder's equity	1,075		4,712		2,000		(6,712		)	1,075
Total liabilities and equity	$	17,074	$	8,931	$	21,628	$	(28,478	)	$	19,155

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended September 30, 2017

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	1,296		$	394		$	1,861		$	(979	)	$	2,572
Expenses:
Direct vehicle and operating	772			188			388			—			1,348
Depreciation of revenue earning vehicles and lease charges, net	826			98			669			(893		)	700
Selling, general and administrative	151			9			57			—			217
Interest expense, net	108			(26		)	93			—			175
Intangible asset impairments	—			—			—			—			—
Other (income) expense, net	(4		)	—			(8		)	—			(12		)
Total expenses	1,853			269			1,199			(893		)	2,428
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(557		)	125			662			(86		)	144
Income tax (provision) benefit	188			(43		)	(195		)	—			(50		)
Equity in earnings (losses) of subsidiaries, net of tax	463			37			—			(500		)	—
Net income (loss) from continuing operations	94			119			467			(586		)	94
Net income (loss) from discontinued operations	—			—			—			—			—
Net income (loss)	94			119			467			(586		)	94
Other comprehensive income (loss), net of tax	15			4			14			(18		)	15
Comprehensive income (loss)	$	109		$	123		$	481		$	(604	)	$	109

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended September 30, 2016

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	1,273		$	425		$	1,872		$	(1,028	)	$	2,542
Expenses:
Direct vehicle and operating	782			206			365			—			1,353
Depreciation of revenue earning vehicles and lease charges, net	871			192			660			(1,028		)	695
Selling, general and administrative	153			12			62			—			227
Interest expense, net	103			(17		)	70			—			156
Other (income) expense, net	3			—			—			—			3
Total expenses	1,912			393			1,157			(1,028		)	2,434
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(639		)	32			715			—			108
Income tax (provision) benefit	416			(26		)	(454		)	—			(64		)
Equity in earnings (losses) of subsidiaries, net of tax	265			117			—			(382		)	—
Net income (loss) from continuing operations	42			123			261			(382		)	44
Net income (loss) from discontinued operations	—			(2		)	—			—			(2		)
Net income (loss)	42			121			261			(382		)	42
Other comprehensive income (loss), net of tax	18			—			16			(16		)	18
Comprehensive income (loss)	$	60		$	121		$	277		$	(398	)	$	60

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Nine Months Ended September 30, 2017

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	3,516		$	1,055		$	5,109		$	(2,967	)	$	6,713
Expenses:
Direct vehicle and operating	2,201			538			996			—			3,735
Depreciation of revenue earning vehicles and lease charges, net	2,587			313			2,004			(2,760		)	2,144
Selling, general and administrative	457			28			176			—			661
Interest expense, net	290			(73		)	244			—			461
Intangible asset impairments	—			86			—			—			86
Other (income) expense, net	30			—			(11		)	—			19
Total expenses	5,565			892			3,409			(2,760		)	7,106
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(2,049		)	163			1,700			(207		)	(393		)
Income tax (provision) benefit	760			(57		)	(596		)	—			107
Equity in earnings (losses) of subsidiaries, net of tax	1,003			100			—			(1,103		)	—
Net income (loss) from continuing operations	(286		)	206			1,104			(1,310		)	(286		)
Net income (loss) from discontinued operations	—			—			—			—			—
Net income (loss)	(286		)	206			1,104			(1,310		)	(286		)
Other comprehensive income (loss), net of tax	21			6			19			(25		)	21
Comprehensive income (loss)	$	(265	)	$	212		$	1,123		$	(1,335	)	$	(265	)

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Nine Months Ended September 30, 2016

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	3,532		$	1,150		$	4,803		$	(2,691	)	$	6,794
Expenses:
Direct vehicle and operating	2,200			587			992			(1		)	3,778
Depreciation of revenue earning vehicles and lease charges, net	2,252			540			1,836			(2,688		)	1,940
Selling, general and administrative	456			36			195			(2		)	685
Interest expense, net	310			(39		)	209			—			480
Other (income) expense, net	4			(10		)	(80		)	—			(86		)
Total expenses	5,222			1,114			3,152			(2,691		)	6,797
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(1,690		)	36			1,651			—			(3		)
Income tax (provision) benefit	831			(28		)	(836		)	—			(33		)
Equity in earnings (losses) of subsidiaries, net of tax	810			317			—			(1,127		)	—
Net income (loss) from continuing operations	(49		)	325			815			(1,127		)	(36		)
Net income (loss) from discontinued operations	—			(3		)	(10		)	—			(13		)
Net income (loss)	(49		)	322			805			(1,127		)	(49		)
Other comprehensive income (loss), net of tax	27			(5		)	45			(40		)	27
Comprehensive income (loss)	$	(22	)	$	317		$	850		$	(1,167	)	$	(22	)

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 30, 2017

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Net cash provided by (used in) operating activities	$	(80	)	$	17		$	3,255		$	(1,211	)	$	1,981
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	9			1			79			—			89
Revenue earning vehicles expenditures	(195		)	(5		)	(8,483		)	—			(8,683		)
Proceeds from disposal of revenue earning vehicles	123			—			5,162			—			5,285
Capital asset expenditures, non-vehicle	(82		)	(8		)	(34		)	—			(124		)
Proceeds from disposal of property and other equipment	7			—			11			—			18
Proceeds from sale of Brazil Operations, net of retained cash	—			—			94			—			94
Sales of shares in equity investment	—			—			9			—			9
Other	—			—			(4		)	—			(4		)
Capital contributions to subsidiaries	(2,224		)	—			—			2,224			—
Return of capital from subsidiaries	2,263			—			—			(2,263		)	—
Loan to Parent/Guarantor from Non-Guarantor	—			—			80			(80		)	—
Net cash provided by (used in) investing activities	(99		)	(12		)	(3,086		)	(119		)	(3,316		)
Cash flows from financing activities:
Net change in restricted cash and cash equivalents, non-vehicle	(833		)	—			—			—			(833		)
Proceeds from issuance of vehicle debt	1,133			—			5,774			—			6,907
Repayments of vehicle debt	(1,129		)	—			(4,758		)	—			(5,887		)
Proceeds from issuance of non-vehicle debt	2,100			—			—			—			2,100
Repayments of non-vehicle debt	(986		)	—			—			—			(986		)
Payment of financing costs	(18		)	(4		)	(21		)	—			(43		)
Early redemption premium payment	(5		)	—			—			—			(5		)
Advances to Hertz Holdings	(4		)	—			—			—			(4		)
Other	(1		)	—			—			—			(1		)
Capital contributions received from parent	—			—			2,224			(2,224		)	—
Payment of dividends and return of capital	—			—			(3,474		)	3,474			—
Loan to Parent/Guarantor from Non-Guarantor	(80		)	—			—			80			—
Net cash provided by (used in) financing activities	177			(4		)	(255		)	1,330			1,248
Effect of foreign currency exchange rate changes on cash and cash equivalents	—			—			19			—			19
Net increase (decrease) in cash and cash equivalents during the period	(2		)	1			(67		)	—			(68		)
Cash and cash equivalents at beginning of period	458			12			346			—			816
Cash and cash equivalents at end of period	$	456		$	13		$	279		$	—		$	748

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 30, 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	$	(2,129	)	$	61		$	4,838		$	(719	)	$	2,051
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	(36		)	—			47			—			11
Net change in restricted cash and cash equivalents, non-vehicle	—			—			(2		)	—			(2		)
Revenue earning vehicles expenditures	(285		)	(51		)	(8,374		)	—			(8,710		)
Proceeds from disposal of revenue earning vehicles	219			—			6,201			—			6,420
Capital asset expenditures, non-vehicle	(56		)	(13		)	(30		)	—			(99		)
Proceeds from disposal of property and other equipment	29			2			22			—			53
Sales of shares in equity investment, net of amounts invested	(45		)	—			233			—			188
Capital contributions to subsidiaries	(1,260		)	—			—			1,260			—
Return of capital from subsidiaries	2,516			—			—			(2,516		)	—
Loan to Parent/Guarantor from Non-Guarantor	—			—			(973		)	973			—
Net cash provided by (used in) investing activities from continuing operations	1,082			(62		)	(2,876		)	(283		)	(2,139		)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	442			—			7,223			—			7,665
Repayments of vehicle debt	(433		)	—			(6,887		)	—			(7,320		)
Proceeds from issuance of non-vehicle debt	2,427			—			—			—			2,427
Repayments of non-vehicle debt	(3,684		)	—			—			—			(3,684		)
Payment of financing costs	(45		)	(3		)	(25		)	—			(73		)
Early redemption premium payment	(13		)	—			—			—			(13		)
Transfers from discontinued entities	2,122			—			—			—			2,122
Advances to Hertz Holdings	(100		)	—			—			—			(100		)
Other	10			—			—			—			10
Capital contributions received from parent	—			—			1,260			(1,260		)	—
Payment of dividends and return of capital	(1		)	—			(3,234		)	3,235			—
Loan to Parent/Guarantor from Non-Guarantor	973			—			—			(973		)	—
Net cash provided by (used in) financing activities from continuing operations	1,698			(3		)	(1,663		)	1,002			1,034
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	—			—			10			—			10
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	651			(4		)	309			—			956
Cash and cash equivalents at beginning of period	179			17			278			—			474
Cash and cash equivalents at end of period	$	830		$	13		$	587		$	—		$	1,430

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

Subsequent Events	9 Months Ended
Subsequent Events	Sep. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Non-vehicle debt Senior Facilities In October 2017, Hertz repaid $120 million of borrowings outstanding under the Senior RCF, and after giving effect to such repayment, the Senior RCF was undrawn. On November 2, 2017, Hertz entered into an agreement amending certain terms of the credit agreement governing its Senior Facilities. The amendment, among other things, (i) amends a covenant to restrict the incurrence of certain non-vehicle indebtedness and to permit the incurrence of additional junior indebtedness to the extent the amount outstanding under the Senior Facilities is less than $2.4 billion, (ii) provides that Hertz shall not make certain dividends and certain restricted payments unless a leverage ratio test is satisfied, (iii) amends the amortization of the Senior Term Loan such that it will amortize, payable in equal quarterly installments, in annual amounts equal to 2% per annum of the original principal amount of the term loans until the maturity date, and (v) amends certain definitions relating to the foregoing. The amendment also provides that Hertz may enter into the Letter of Credit Facility, which Hertz executed simultaneously with the amendment. In addition, concurrently with the execution of the amendment described above, Hertz exercised its right to permanently reduce the amount of available commitments under the Senior RCF by $383 million, such that after giving effect to such reduction the Senior RCF consists of a $1.167 billion senior secured revolving credit facility. Senior Notes On November 3, 2017, Hertz provided an unconditional notice of full redemption to the holders of its $450 million in aggregate principal amount of outstanding 6.75% Senior Notes due 2019. The redemption price for the 2019 Notes will be equal to 100% of the principal amount of the 2019 Notes, plus accrued but unpaid interest thereon to the date of redemption. Hertz has deposited funds with the trustee of the 2019 Notes to effect such redemption. The redemption date is December 3, 2017. Letter of Credit Facility On November 2, 2017, Hertz entered into a letter of credit agreement with respect to a new standalone letter of credit facility. At Hertz’s option and subject to certain conditions, Hertz may request the issuing banks party to the Letter of Credit Facility to issue letters of credit for itself and on behalf of certain of Hertz’s domestic subsidiaries. The Letter of Credit Facility consists of $400 million of commitments from the issuing banks party thereto. Availability under the Letter of Credit Facility will be limited to an amount equal to the amount of commitments terminated under the Senior RCF. The Letter of Credit Facility will mature on June 30, 2021. As of November 2, 2017, there was no availability under the Letter of Credit Facility and no letters of credit were issued thereunder on such date. Senior Second Priority Secured Notes Hertz has utilized all $833 million of the remaining net proceeds from the June 2017 issuance of the Senior Second Priority Secured Notes that it was holding as restricted cash to reduce commitments under the Senior RCF and to effect the redemption of the 2019 Notes as described above. Vehicle debt HVF II U.S. Vehicle Variable Funding Notes On November 2, 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 $3.415 billion aggregate maximum principal amount available under the HVF II Series 2013-A Notes and HVF II Series 2013-B Notes from January 2019 to March 2020. European Revolving Credit Facility On November 2, 2017, HHN BV amended the European Revolving Credit Facility to extend the maturity of €153 million aggregate maximum borrowings available under the European Revolving Credit Facility from January 2019 to March 2020. An additional €82 million aggregate maximum borrowings available under the European Revolving Credit Facility, which are not subject to the maturity extension described above, will mature in January 2019. HFLF Variable Funding Notes On November 2, 2017, HFLF amended the HFLF Series 2013-2 Notes to extend the end of the revolving period of $500 million aggregate maximum borrowings available under the HFLF Series 2013-2 Notes from September 2018 to March 2020. Canadian Securitization On November 2, 2017, Funding LP amended the Canadian Securitization to extend the maturity of CAD$350 million aggregate maximum borrowings available under the Canadian Securitization from January 2019 to March 2020. Capitalized Leases - UK Leveraged Financing On November 2, 2017, the U.K. Leveraged Financing was amended to extend the maturity of £213 million aggregate maximum available borrowings from January 2019 to March 2020. An additional £37 million aggregate maximum available borrowings, which are not subject to the maturity extension described above, will mature in January 2019. European Securitization On November 2, 2017, the European Securitization was amended to extend the maturity of €345 million aggregate maximum available borrowings from October 2018 to March 2020. An additional €115 million aggregate maximum available borrowings, which are not subject to the maturity extension described above, will mature in October 2018. Australian Securitization On November 2, 2017, HA Fleet Pty, Limited, an indirect, wholly-owned, special purpose subsidiary of Hertz, amended the Australian Securitization to extend the maturity of AUD$250 million aggregate maximum available borrowings from July 2018 to March 2020. New Zealand Revolving Credit Facility On November 1, 2017, Hertz New Zealand Holdings Limited, an indirect wholly-owned subsidiary of Hertz, amended the New Zealand Revolving Credit Facility to extend the maturity of NZD$60 million from September 2018 to March 2020.

Basis of Presentation and Recently Issued Accounting Pronouncements (Policies)

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Principles of Consolidation

Recently Issued Accounting Pronouncements

Adopted

Improvements to Employee Share-Based Payment Accounting

The impact to the condensed consolidated opening balance sheet as of January 1, 2017 of adopting this guidance was as follows (in millions):

Hertz Global



	Deferred income taxes, net			Total liabilities			Accumulated deficit			Total equity		Total liabilities and equity
As of December 31, 2016	$	2,149		$	18,080		$	(882	)	$	1,075	$	19,155
Record deferred tax asset	(49		)	(49		)	49			49		—
As of January 1, 2017	$	2,100		$	18,031		$	(833	)	$	1,124	$	19,155

Hertz



	Deferred income taxes, net			Total liabilities			Accumulated deficit			Total equity		Total liabilities and equity
As of December 31, 2016	$	2,149		$	18,080		$	(1,867	)	$	1,075	$	19,155
Record deferred tax asset	(49		)	(49		)	49			49		—
As of January 1, 2017	$	2,100		$	18,031		$	(1,818	)	$	1,124	$	19,155

Classification of Certain Cash Receipts and Cash Payments

Accounting for Goodwill Impairment

Scope of Modification Accounting for Share-Based Payment Awards

Not Yet Adopted

Revenue from Contracts with Customers

Vehicle Rental Operations

Recognition of revenue from other forms of rental related activities that represent a service will not be materially impacted by adoption of Topic 606.

Fleet Leasing and Management Operations

Leases

Lessee

Lessor

Restricted Cash

Clarifying the Definition of a Business

Clarifying the Scope of Nonfinancial Asset Derecognition and Accounting for Partial Sales of Nonfinancial Assets

Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost

Basis of Presentation and Recently Issued Accounting Pronouncements (Tables)

9 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles

The impact to the condensed consolidated opening balance sheet as of January 1, 2017 of adopting this guidance was as follows (in millions):

Hertz Global



	Deferred income taxes, net			Total liabilities			Accumulated deficit			Total equity		Total liabilities and equity
As of December 31, 2016	$	2,149		$	18,080		$	(882	)	$	1,075	$	19,155
Record deferred tax asset	(49		)	(49		)	49			49		—
As of January 1, 2017	$	2,100		$	18,031		$	(833	)	$	1,124	$	19,155

Hertz



	Deferred income taxes, net			Total liabilities			Accumulated deficit			Total equity		Total liabilities and equity
As of December 31, 2016	$	2,149		$	18,080		$	(1,867	)	$	1,075	$	19,155
Record deferred tax asset	(49		)	(49		)	49			49		—
As of January 1, 2017	$	2,100		$	18,031		$	(1,818	)	$	1,124	$	19,155

Discontinued Operations (Tables)

9 Months Ended

Sep. 30, 2017

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

The following table summarizes the results of the equipment rental business and certain parent legal entities which are presented as discontinued operations in 2016:



(In millions)	Three Months Ended September 30, 2016			Nine Months Ended September 30, 2016
Total revenues	$	—		$	677
Direct operating expenses	—			366
Depreciation of revenue earning equipment and lease charges, net	—			181
Selling, general and administrative	—			123
Interest expense, net⁽¹⁾	—			17
Other (income) expense, net	—			(1		)
Income (loss) from discontinued operations before income taxes	—			(9		)
(Provision) benefit for taxes on discontinued operations	(2		)	(6		)
Net income (loss) from discontinued operations	$	(2	)	$	(15	)


(1)	In addition to interest expense directly associated with Herc Holdings, the Company allocated interest expense related to certain debt repaid in connection with the Spin-Off to discontinued operations. For the nine months ended September 30, 2016, the amount allocated was $5 million.

Results of Discontinued Operations - Hertz

The following table summarizes the results of the equipment rental business which is presented as discontinued operations in 2016:



(In millions)	Three Months Ended September 30, 2016			Nine Months Ended September 30, 2016
Total revenues	$	—		$	677
Direct operating expenses	—			366
Depreciation of revenue earning equipment and lease charges, net	—			181
Selling, general and administrative	—			124
Interest expense, net⁽¹⁾	—			13
Other (income) expense, net	—			(1		)
Income (loss) from discontinued operations before income taxes	—			(6		)
(Provision) benefit for taxes on discontinued operations	(2		)	(7		)
Net income (loss) from discontinued operations	$	(2	)	$	(13	)


(1)	In addition to interest expense directly associated with Herc Holdings, the Company allocated interest expense related to certain debt repaid in connection with the Spin-Off to discontinued operations. For the nine months ended September 30, 2016, the amount allocated was $5 million.

- 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=65878427&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=64827811&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=64827811&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=64827811&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=64827811&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=84176398&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=64827811&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=64827811&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=84176398&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=64827811&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=64827811&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=64827811&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=64827811&loc=SL51721677-107760

+ Details

Acquisitions and Divestitures (Tables)

9 Months Ended

Sep. 30, 2017

Business Combinations and Divestitures [Abstract]

Schedule of Business Acquisitions, by Acquisition

The carrying amounts of the major classes of assets and liabilities of the Brazil Operations as of December 31, 2016 were 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 (Tables)

9 Months Ended

Sep. 30, 2017

Revenue Earning Vehicles [Abstract]

Components of Revenue Earning Vehicles

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



(In millions)	September 30, 2017			December 31, 2016
Revenue earning vehicles	$	15,055		$	13,287
Less: Accumulated depreciation	(3,036		)	(2,678		)
	12,019			10,609
Revenue earning vehicles held for sale, net	357			209
Revenue earning vehicles, net	$	12,376		$	10,818

Depreciation on Revenue Earning Vehicles and Lease Charges

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



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2017		2016		2017		2016
Depreciation of revenue earning vehicles	$	636	$	631	$	1,902	$	1,766
(Gain) loss on disposal of revenue earning vehicles^(a)	43		44		187		121
Rents paid for vehicles leased	21		20		55		53
Depreciation of revenue earning vehicles and lease charges, net	$	700	$	695	$	2,144	$	1,940

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



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2017		2016		2017		2016
U.S. Rental Car⁽ⁱ⁾	$	43	$	43	$	187	$	124
International Rental Car	—		1		—		(3		)
Total	$	43	$	44	$	187	$	121


(i)	Includes costs associated with the Company's U.S. vehicle sales operations of $36 million and $27 million for the three months ended September 30, 2017 and 2016, respectively, and $99 million and $80 million, for the nine months ended September 30, 2017 and 2016, respectively.

Impact of Depreciation Rate Changes



Increase (decrease)	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2017		2016		2017		2016
U.S. Rental Car^(a)	$	6	$	43	$	68	$	88
International Rental Car	4		1		5		3
Total	$	10	$	44	$	73	$	91

(a)

Debt (Tables)

9 Months Ended

Sep. 30, 2017

Debt Disclosure [Abstract]

Components of debt

The Company's debt, including its available credit facilities, consists of the following (in millions):



Facility	Weighted Average Interest Rate at September 30, 2017	Fixed or Floating Interest Rate	Maturity	September 30, 2017			December 31, 2016
Non-Vehicle Debt
Senior Term Loan	3.99%	Floating	6/2023	$	691		$	697
Senior RCF	4.49%	Floating	6/2021	120			—
Senior Notes⁽¹⁾	6.22%	Fixed	4/2019–10/2024	2,950			3,200
Senior Second Priority Secured Notes	7.63%	Fixed	6/2022	1,250			—
Promissory Notes	7.00%	Fixed	1/2028	27			27
Other Non-Vehicle Debt	1.96%	Fixed	Various	9			10
Unamortized Debt Issuance Costs and Net (Discount) Premium				(44		)	(39		)
Total Non-Vehicle Debt				5,003			3,895



Facility	Weighted Average Interest Rate at September 30, 2017	Fixed or Floating Interest Rate	Maturity	September 30, 2017	December 31, 2016
Vehicle Debt
HVF U.S. Vehicle Medium Term Notes
HVF Series 2010-1⁽²⁾	4.96%	Fixed	2/2018	96	115
HVF Series 2011-1⁽²⁾	N/A	N/A	N/A	—	115
HVF Series 2013-1⁽²⁾	1.91%	Fixed	8/2018	625	625
				721	855
HVF II U.S. ABS Program
HVF II U.S. Vehicle Variable Funding Notes
HVF II Series 2013-A⁽²⁾	2.61%	Floating	1/2019	2,024	1,844
HVF II Series 2013-B⁽²⁾	2.51%	Floating	1/2019	186	626
HVF II Series 2017-A⁽²⁾	N/A	Floating	10/2018	—	—
				2,210	2,470
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⁾	2.45%	Fixed	9/2018	265	250
HVF II Series 2015-3⁽²⁾	3.10%	Fixed	9/2020	371	350
HVF II Series 2016-1⁽²⁾	2.89%	Fixed	3/2019	466	439
HVF II Series 2016-2⁽²⁾	3.41%	Fixed	3/2021	595	561
HVF II Series 2016-3⁽²⁾	2.72%	Fixed	7/2019	424	400
HVF II Series 2016-4⁽²⁾	3.09%	Fixed	7/2021	424	400
HVF II Series 2017-1⁽²⁾	3.38%	Fixed	10/2020	450	—
HVF II Series 2017-2⁽²⁾	3.57%	Fixed	10/2022	350	—
				4,125	3,180
Donlen ABS Program
HFLF Variable Funding Notes
HFLF Series 2013-2⁽²⁾	2.23%	Floating	9/2018	220	410
				220	410
HFLF Medium Term Notes
HFLF Series 2013-3⁽⁵⁾	N/A	N/A	N/A	—	96
HFLF Series 2014-1⁽⁵⁾	2.55%	Floating	10/2017-12/2017	49	148
HFLF Series 2015-1⁽⁵⁾	1.98%	Floating	10/2017-8/2019	173	248
HFLF Series 2016-1⁽⁵⁾	2.45%	Both	10/2017-5/2020	355	385
HFLF Series 2017-1⁽⁵⁾	2.24%	Both	6/2018-5/2020	500	—
				1,077	877



Facility	Weighted Average Interest Rate at September 30, 2017	Fixed or Floating Interest Rate	Maturity	September 30, 2017			December 31, 2016
Other Vehicle Debt
U.S. Vehicle RCF⁽³⁾	3.59%	Floating	6/2021	198			193
European Revolving Credit Facility	2.75%	Floating	1/2019	294			147
European Vehicle Notes⁽⁴⁾	4.29%	Fixed	1/2019–10/2021	763			677
European Securitization⁽²⁾	1.55%	Floating	10/2018	520			312
Canadian Securitization⁽²⁾	2.35%	Floating	1/2019	281			162
Australian Securitization⁽²⁾	3.11%	Floating	7/2018	133			117
New Zealand RCF	4.28%	Floating	9/2018	35			41
Capitalized Leases	2.78%	Floating	10/2017–12/2021	385			244
				2,609			1,893
Unamortized Debt Issuance Costs and Net (Discount) Premium				(46		)	(39		)
Total Vehicle Debt				10,916			9,646
Total Debt				$	15,919		$	13,541

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	September 30, 2017		December 31, 2016
4.25% Senior Notes due April 2018	$	—	$	250
6.75% Senior Notes due April 2019	450		450
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		800
	$	2,950	$	3,200


(2)	Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal 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)



(In millions)	Outstanding Principal
European Vehicles Notes	September 30, 2017		December 31, 2016
4.375% Senior Notes due January 2019 (€425 million aggregate principal amount)	$	499	$	443
4.125% Senior Notes due October 2021 (€225 million aggregate principal amount)	264		234
	$	763	$	677

(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 September 30, 2017				As of December 31, 2016
(In millions)	Nominal Unpaid Principal Balance		Aggregate Fair Value		Nominal Unpaid Principal Balance		Aggregate Fair Value
Non-vehicle Debt	$	5,047	$	4,962	$	3,934	$	3,791
Vehicle Debt	10,962		10,946		9,685		9,670
Total	$	16,009	$	15,908	$	13,619	$	13,461

Schedule of debt sold to third parties

In August 2017, Hertz sold the below notes, which it had acquired at the time of the respective HVF II initial offerings and which were previously eliminated in consolidation, to third parties. The interest terms and the maturity of the notes sold remained consistent with the terms per the respective initial offerings. The Class D Notes are subordinate to the Class A Notes, the Class B Notes and the Class C Notes of their respective series.



(In millions)	Aggregate Principal Amount
HVF II Series 2015-2 Class D Notes	$	15
HVF II Series 2015-3 Class D Notes	21
HVF II Series 2016-1 Class D Notes	27
HVF II Series 2016-2 Class D Notes	34
HVF II Series 2016-3 Class D Notes	24
HVF II Series 2016-4 Class D Notes	24
Total	$	145

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

The following facilities were available to the Company as of September 30, 2017, and are presented net of any outstanding letters of credit:



(In millions)	Remaining Capacity		Availability Under Borrowing Base Limitation
Non-Vehicle Debt
Senior RCF	$	644	$	644
Total Non-Vehicle Debt	644		644
Vehicle Debt
U.S. Vehicle RCF	2		2
HVF II U.S. Vehicle Variable Funding Notes	1,955		—
HFLF Variable Funding Notes	280		5
European Revolving Credit Facility	—		—
European Securitization	20		—
Canadian Securitization	—		—
Australian Securitization	63		1
Capitalized Leases	—		—
New Zealand RCF	8		—
Total Vehicle Debt	2,328		8
Total	$	2,972	$	652

Schedule of corporate leverage ratio

The amended financial covenant provides that Hertz’s consolidated first lien net leverage ratio, as defined in the credit agreement governing the Senior RCF, as of the last day of any fiscal quarter (the "Covenant Leverage Ratio"), may not exceed the ratios indicated below:



Fiscal Quarter(s) Ending	Maximum Ratio
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

Employee Retirement Benefits (Tables)

9 Months Ended

Sep. 30, 2017

Retirement Benefits [Abstract]

Schedule of Net Benefit Costs

The following tables sets forth the net periodic pension expense:



	Pension Benefits
	U.S.						Non-U.S.
	Three Months Ended September 30,
(In millions)	2017			2016			2017			2016
Components of Net Periodic Benefit Cost:
Service cost	$	1		$	1		$	—		$	—
Interest cost	5			5			2			2
Expected return on plan assets	(7		)	(7		)	(3		)	(3		)
Net amortizations	1			2			—			—
Net periodic pension expense (benefit)	$	—		$	1		$	(1	)	$	(1	)



	Pension Benefits
	U.S.						Non-U.S.
	Nine Months Ended September 30,
(In millions)	2017			2016			2017			2016
Components of Net Periodic Benefit Cost:
Service cost	$	1		$	2		$	1		$	1
Interest cost	16			16			5			6
Expected return on plan assets	(20		)	(21		)	(8		)	(9		)
Net amortizations	3			6			1			—
Settlement loss	1			1			—			—
Net periodic pension expense (benefit)	$	1		$	4		$	(1	)	$	(2	)

Stock-Based Compensation (Tables)

9 Months Ended

Sep. 30, 2017

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

Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan

A summary of the total compensation expense and associated income tax benefits recognized under all plans, including the cost of stock options, RSUs, PSUs and PSAs is as follows:



	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions)	2017			2016			2017			2016
Compensation expense	$	4		$	5		$	16		$	16
Income tax benefit	(2		)	(2		)	(6		)	(6		)
Total	$	2		$	3		$	10		$	10

Restructuring (Tables)

9 Months Ended

Sep. 30, 2017

Restructuring and Related Activities [Abstract]

Restructuring and Related Costs

Restructuring charges for the periods shown are as follows:



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2017		2016		2017		2016
By Type:
Termination benefits	$	—	$	7	$	3	$	23
Impairments and asset write-downs	—		28		—		31
Facility closure and lease obligation costs	—		2		—		7
Other	—		—		—		1
Total	$	—	$	37	$	3	$	62



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2017		2016		2017		2016
By Caption:
Direct vehicle and operating	$	—	$	29	$	—	$	38
Selling, general and administrative	—		8		3		24
Total	$	—	$	37	$	3	$	62



	Three Months Ended September 30,				Nine Months Ended September 30,
(In millions)	2017		2016		2017		2016
By Segment:
U.S. Rental Car	$	—	$	30	$	1	$	51
International Rental Car	—		3		1		7
Corporate	—		4		1		4
Total	$	—	$	37	$	3	$	62

Schedule of Restructuring Reserve by Type of Cost



(In millions)	Termination Benefits			Other			Total
Balance as of December 31, 2016	$	13		$	14		$	27
Charges incurred	3			—			3
Cash payments	(8		)	(3		)	(11		)
Other non-cash changes	1			—			1
Balance as of September 30, 2017	$	9		$	11		$	20

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Cash, Cash Equivalents and Investments

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



	September 30, 2017								December 31, 2016
(In millions)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Money market funds	$	38	$	260	$	—	$	298	$	213	$	393	$	—	$	606
Equity and other securities	—		—		—		—		9		—		—		9
Total	$	38	$	260	$	—	$	298	$	222	$	393	$	—	$	615

Components of debt

The Company's debt, including its available credit facilities, consists of the following (in millions):



Facility	Weighted Average Interest Rate at September 30, 2017	Fixed or Floating Interest Rate	Maturity	September 30, 2017			December 31, 2016
Non-Vehicle Debt
Senior Term Loan	3.99%	Floating	6/2023	$	691		$	697
Senior RCF	4.49%	Floating	6/2021	120			—
Senior Notes⁽¹⁾	6.22%	Fixed	4/2019–10/2024	2,950			3,200
Senior Second Priority Secured Notes	7.63%	Fixed	6/2022	1,250			—
Promissory Notes	7.00%	Fixed	1/2028	27			27
Other Non-Vehicle Debt	1.96%	Fixed	Various	9			10
Unamortized Debt Issuance Costs and Net (Discount) Premium				(44		)	(39		)
Total Non-Vehicle Debt				5,003			3,895



Facility	Weighted Average Interest Rate at September 30, 2017	Fixed or Floating Interest Rate	Maturity	September 30, 2017	December 31, 2016
Vehicle Debt
HVF U.S. Vehicle Medium Term Notes
HVF Series 2010-1⁽²⁾	4.96%	Fixed	2/2018	96	115
HVF Series 2011-1⁽²⁾	N/A	N/A	N/A	—	115
HVF Series 2013-1⁽²⁾	1.91%	Fixed	8/2018	625	625
				721	855
HVF II U.S. ABS Program
HVF II U.S. Vehicle Variable Funding Notes
HVF II Series 2013-A⁽²⁾	2.61%	Floating	1/2019	2,024	1,844
HVF II Series 2013-B⁽²⁾	2.51%	Floating	1/2019	186	626
HVF II Series 2017-A⁽²⁾	N/A	Floating	10/2018	—	—
				2,210	2,470
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⁾	2.45%	Fixed	9/2018	265	250
HVF II Series 2015-3⁽²⁾	3.10%	Fixed	9/2020	371	350
HVF II Series 2016-1⁽²⁾	2.89%	Fixed	3/2019	466	439
HVF II Series 2016-2⁽²⁾	3.41%	Fixed	3/2021	595	561
HVF II Series 2016-3⁽²⁾	2.72%	Fixed	7/2019	424	400
HVF II Series 2016-4⁽²⁾	3.09%	Fixed	7/2021	424	400
HVF II Series 2017-1⁽²⁾	3.38%	Fixed	10/2020	450	—
HVF II Series 2017-2⁽²⁾	3.57%	Fixed	10/2022	350	—
				4,125	3,180
Donlen ABS Program
HFLF Variable Funding Notes
HFLF Series 2013-2⁽²⁾	2.23%	Floating	9/2018	220	410
				220	410
HFLF Medium Term Notes
HFLF Series 2013-3⁽⁵⁾	N/A	N/A	N/A	—	96
HFLF Series 2014-1⁽⁵⁾	2.55%	Floating	10/2017-12/2017	49	148
HFLF Series 2015-1⁽⁵⁾	1.98%	Floating	10/2017-8/2019	173	248
HFLF Series 2016-1⁽⁵⁾	2.45%	Both	10/2017-5/2020	355	385
HFLF Series 2017-1⁽⁵⁾	2.24%	Both	6/2018-5/2020	500	—
				1,077	877



Facility	Weighted Average Interest Rate at September 30, 2017	Fixed or Floating Interest Rate	Maturity	September 30, 2017			December 31, 2016
Other Vehicle Debt
U.S. Vehicle RCF⁽³⁾	3.59%	Floating	6/2021	198			193
European Revolving Credit Facility	2.75%	Floating	1/2019	294			147
European Vehicle Notes⁽⁴⁾	4.29%	Fixed	1/2019–10/2021	763			677
European Securitization⁽²⁾	1.55%	Floating	10/2018	520			312
Canadian Securitization⁽²⁾	2.35%	Floating	1/2019	281			162
Australian Securitization⁽²⁾	3.11%	Floating	7/2018	133			117
New Zealand RCF	4.28%	Floating	9/2018	35			41
Capitalized Leases	2.78%	Floating	10/2017–12/2021	385			244
				2,609			1,893
Unamortized Debt Issuance Costs and Net (Discount) Premium				(46		)	(39		)
Total Vehicle Debt				10,916			9,646
Total Debt				$	15,919		$	13,541

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	September 30, 2017		December 31, 2016
4.25% Senior Notes due April 2018	$	—	$	250
6.75% Senior Notes due April 2019	450		450
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		800
	$	2,950	$	3,200


(2)	Maturity reference is to the earlier "expected final maturity date" as opposed to the subsequent "legal 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)



(In millions)	Outstanding Principal
European Vehicles Notes	September 30, 2017		December 31, 2016
4.375% Senior Notes due January 2019 (€425 million aggregate principal amount)	$	499	$	443
4.125% Senior Notes due October 2021 (€225 million aggregate principal amount)	264		234
	$	763	$	677

(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 September 30, 2017				As of December 31, 2016
(In millions)	Nominal Unpaid Principal Balance		Aggregate Fair Value		Nominal Unpaid Principal Balance		Aggregate Fair Value
Non-vehicle Debt	$	5,047	$	4,962	$	3,934	$	3,791
Vehicle Debt	10,962		10,946		9,685		9,670
Total	$	16,009	$	15,908	$	13,619	$	13,461

Fair Value Measurements, Nonrecurring

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



									Fair Value (Income)/Loss Adjustment
(In millions)	Fair Value		Level 1		Level 2		Level 3		Three Months Ended September 30, 2017			Nine Months Ended September 30, 2017
Brazil Operations	$	115	$	—	$	115	$	—	$	(6	)	$	(6	)
Equity method investments	$	8	$	—	$	—	$	8	$	(4	)	$	26
Intangible assets	$	934	$	—	$	—	$	934	$	—		$	86

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

9 Months Ended

Sep. 30, 2017

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

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



	Three Months Ended September 30,					Nine Months Ended September 30,
(In millions, except per share data)	2017		2016			2017			2016
Basic and diluted earnings (loss) per share:
Numerator:
Net income (loss) from continuing operations	$	93	$	44		$	(289	)	$	(36	)
Net income (loss) from discontinued operations	—		(2		)	—			(15		)
Net income (loss), basic	$	93	$	42		$	(289	)	$	(51	)
Denominator:
Basic weighted average common shares	83		84			83			85
Dilutive stock options, RSUs, PSUs and PSAs	—		1			—			—
Weighted average shares used to calculate diluted earnings per share	83		85			83			85
Antidilutive stock options, RSUs, PSUs and PSAs	3		1			3			2
Earnings (loss) per share:
Basic earnings (loss) per share from continuing operations	$	1.12	$	0.52		$	(3.48	)	$	(0.42	)
Basic earnings (loss) per share from discontinued operations	—		(0.02		)	—			(0.18		)
Basic earnings (loss) per share	$	1.12	$	0.50		$	(3.48	)	$	(0.60	)

Diluted earnings (loss) per share from continuing operations	$	1.12	$	0.52		$	(3.48	)	$	(0.42	)
Diluted earnings (loss) per share from discontinued operations	—		(0.03		)	—			(0.18		)
Diluted earnings (loss) per share	$	1.12	$	0.49		$	(3.48	)	$	(0.60	)

Segment Information (Tables)

9 Months Ended

Sep. 30, 2017

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment



	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions)	2017			2016			2017			2016
Revenues
U.S. Rental Car	$	1,685		$	1,707		$	4,557		$	4,697
International Rental Car	728			683			1,683			1,656
All Other Operations	159			152			473			441
Total Hertz Global and Hertz	$	2,572		$	2,542		$	6,713		$	6,794
Depreciation of revenue earning vehicles and lease charges, net
U.S. Rental Car	$	455		$	462		$	1,478		$	1,298
International Rental Car	126			116			311			300
All Other Operations	119			117			355			342
Total Hertz Global and Hertz	$	700		$	695		$	2,144		$	1,940
Adjusted pre-tax income (loss)^(a)
U.S. Rental Car	$	158		$	173		$	5		$	312
International Rental Car	147			142			200			179
All Other Operations	20			19			59			53
Corporate	(137		)	(122		)	(371		)	(385		)
Total Hertz Global	188			212			(107		)	159
Corporate - Hertz	1			—			4			—
Total Hertz	$	189		$	212		$	(103	)	$	159



(In millions)	September 30, 2017		December 31, 2016
Total Assets
U.S. Rental Car	$	13,000	$	12,876
International Rental Car	4,706		3,578
All other operations	1,629		1,612
Corporate	2,009		1,089
Total Hertz Global and Hertz	$	21,344	$	19,155

(a)

Reconciliation of adjusted pre-tax income (loss) by segment to consolidated amounts are summarized below.

Hertz Global



	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions)	2017			2016			2017			2016
Adjusted pre-tax income (loss):
U.S. Rental Car	$	158		$	173		$	5		$	312
International Rental Car	147			142			200			179
All Other Operations	20			19			59			53
Total reportable segments	325			334			264			544
Corporate⁽¹⁾	(137		)	(122		)	(371		)	(385		)
Adjusted pre-tax income (loss)	188			212			(107		)	159
Adjustments:
Acquisition accounting⁽²⁾	(15		)	(16		)	(47		)	(49		)
Debt-related charges⁽³⁾	(12		)	(11		)	(33		)	(36		)
Loss on extinguishment of debt⁽⁴⁾	—			(20		)	(8		)	(40		)
Restructuring and restructuring related charges⁽⁵⁾	(2		)	(11		)	(14		)	(41		)
Sale of CAR Inc. common stock⁽⁶⁾	—			—			3			75
Impairment charges and asset write-downs⁽⁷⁾	—			(28		)	(116		)	(31		)
Finance and information technology transformation costs⁽⁸⁾	(15		)	(14		)	(55		)	(40		)
Other⁽⁹⁾	(1		)	(4		)	(20		)	—
Income (loss) before income taxes	$	143		$	108		$	(397	)	$	(3	)

Hertz



	Three Months Ended September 30,						Nine Months Ended September 30,
(In millions)	2017			2016			2017			2016
Adjusted pre-tax income (loss):
U.S. Rental Car	$	158		$	173		$	5		$	312
International Rental Car	147			142			200			179
All Other Operations	20			19			59			53
Total reportable segments	325			334			264			544
Corporate⁽¹⁾	(136		)	(122		)	(367		)	(385		)
Adjusted pre-tax income (loss)	189			212			(103		)	159
Adjustments:
Acquisition accounting⁽²⁾	(15		)	(16		)	(47		)	(49		)
Debt-related charges⁽³⁾	(12		)	(11		)	(33		)	(36		)
Loss on extinguishment of debt⁽⁴⁾	—			(20		)	(8		)	(40		)
Restructuring and restructuring related charges⁽⁵⁾	(2		)	(11		)	(14		)	(41		)
Sale of CAR Inc. common stock⁽⁶⁾	—			—			3			75
Impairment charges and asset write-downs⁽⁷⁾	—			(28		)	(116		)	(31		)
Finance and information technology transformation costs⁽⁸⁾	(15		)	(14		)	(55		)	(40		)
Other⁽⁹⁾	(1		)	(4		)	(20		)	—
Income (loss) before income taxes	$	144		$	108		$	(393	)	$	(3	)


(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)	In 2017, primarily represents a second quarter $86 million impairment of the Dollar Thrifty tradename and a first quarter impairment of $30 million related to an equity method investment. In 2016, primarily represents the third quarter impairment of certain tangible assets used in the U.S. RAC segment in conjunction with a restructuring program.


(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)

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

9 Months Ended

Sep. 30, 2017

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

Condensed Balance Sheet

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING BALANCE SHEET

September 30, 2017

(In millions)



	Parent (The Hertz Corporation)		Guarantor Subsidiaries		Non- Guarantor Subsidiaries		Eliminations			The Hertz Corporation & Subsidiaries
ASSETS
Cash and cash equivalents	$	456	$	13	$	279	$	—		$	748
Restricted cash and cash equivalents	877		4		148		—			1,029
Receivables, net of allowance	388		159		977		—			1,524
Due from affiliates	3,337		4,447		9,187		(16,971		)	—
Prepaid expenses and other assets	5,541		76		229		(5,327		)	519
Revenue earning vehicles, net	286		8		12,082		—			12,376
Property and equipment, net	625		63		143		—			831
Investment in subsidiaries, net	6,262		732		—		(6,994		)	—
Other intangible assets, net	126		3,097		11		—			3,234
Goodwill	102		943		38		—			1,083
Total assets	$	18,000	$	9,542	$	23,094	$	(29,292	)	$	21,344
LIABILITIES AND EQUITY
Due to affiliates	$	10,692	$	2,088	$	4,191	$	(16,971	)	$	—
Accounts payable	409		123		422		—			954
Accrued liabilities	570		78		374		—			1,022
Accrued taxes, net	91		22		3,352		(3,288		)	177
Debt	5,200		—		10,719		—			15,919
Public liability and property damage	173		45		230		—			448
Deferred income taxes, net	—		2,120		1,878		(2,039		)	1,959
Total liabilities	17,135		4,476		21,166		(22,298		)	20,479
Equity:
Stockholder's equity	865		5,066		1,928		(6,994		)	865
Total liabilities and equity	$	18,000	$	9,542	$	23,094	$	(29,292	)	$	21,344

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		3,823		9,750		(17,241		)	—
Prepaid expenses and other assets	4,821		83		199		(4,525		)	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	$	17,074	$	8,931	$	21,628	$	(28,478	)	$	19,155
LIABILITIES AND EQUITY
Due to affiliates	$	10,833	$	1,900	$	4,508	$	(17,241	)	$	—
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	—		2,065		1,797		(1,713		)	2,149
Liabilities held for sale	—		—		17		—			17
Total liabilities	15,999		4,219		19,628		(21,766		)	18,080
Equity:
Stockholder's equity	1,075		4,712		2,000		(6,712		)	1,075
Total liabilities and equity	$	17,074	$	8,931	$	21,628	$	(28,478	)	$	19,155

Condensed Income Statement

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended September 30, 2017

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	1,296		$	394		$	1,861		$	(979	)	$	2,572
Expenses:
Direct vehicle and operating	772			188			388			—			1,348
Depreciation of revenue earning vehicles and lease charges, net	826			98			669			(893		)	700
Selling, general and administrative	151			9			57			—			217
Interest expense, net	108			(26		)	93			—			175
Intangible asset impairments	—			—			—			—			—
Other (income) expense, net	(4		)	—			(8		)	—			(12		)
Total expenses	1,853			269			1,199			(893		)	2,428
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(557		)	125			662			(86		)	144
Income tax (provision) benefit	188			(43		)	(195		)	—			(50		)
Equity in earnings (losses) of subsidiaries, net of tax	463			37			—			(500		)	—
Net income (loss) from continuing operations	94			119			467			(586		)	94
Net income (loss) from discontinued operations	—			—			—			—			—
Net income (loss)	94			119			467			(586		)	94
Other comprehensive income (loss), net of tax	15			4			14			(18		)	15
Comprehensive income (loss)	$	109		$	123		$	481		$	(604	)	$	109

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Three Months Ended September 30, 2016

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	1,273		$	425		$	1,872		$	(1,028	)	$	2,542
Expenses:
Direct vehicle and operating	782			206			365			—			1,353
Depreciation of revenue earning vehicles and lease charges, net	871			192			660			(1,028		)	695
Selling, general and administrative	153			12			62			—			227
Interest expense, net	103			(17		)	70			—			156
Other (income) expense, net	3			—			—			—			3
Total expenses	1,912			393			1,157			(1,028		)	2,434
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(639		)	32			715			—			108
Income tax (provision) benefit	416			(26		)	(454		)	—			(64		)
Equity in earnings (losses) of subsidiaries, net of tax	265			117			—			(382		)	—
Net income (loss) from continuing operations	42			123			261			(382		)	44
Net income (loss) from discontinued operations	—			(2		)	—			—			(2		)
Net income (loss)	42			121			261			(382		)	42
Other comprehensive income (loss), net of tax	18			—			16			(16		)	18
Comprehensive income (loss)	$	60		$	121		$	277		$	(398	)	$	60

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Nine Months Ended September 30, 2017

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	3,516		$	1,055		$	5,109		$	(2,967	)	$	6,713
Expenses:
Direct vehicle and operating	2,201			538			996			—			3,735
Depreciation of revenue earning vehicles and lease charges, net	2,587			313			2,004			(2,760		)	2,144
Selling, general and administrative	457			28			176			—			661
Interest expense, net	290			(73		)	244			—			461
Intangible asset impairments	—			86			—			—			86
Other (income) expense, net	30			—			(11		)	—			19
Total expenses	5,565			892			3,409			(2,760		)	7,106
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(2,049		)	163			1,700			(207		)	(393		)
Income tax (provision) benefit	760			(57		)	(596		)	—			107
Equity in earnings (losses) of subsidiaries, net of tax	1,003			100			—			(1,103		)	—
Net income (loss) from continuing operations	(286		)	206			1,104			(1,310		)	(286		)
Net income (loss) from discontinued operations	—			—			—			—			—
Net income (loss)	(286		)	206			1,104			(1,310		)	(286		)
Other comprehensive income (loss), net of tax	21			6			19			(25		)	21
Comprehensive income (loss)	$	(265	)	$	212		$	1,123		$	(1,335	)	$	(265	)

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)

For the Nine Months Ended September 30, 2016

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Total revenues	$	3,532		$	1,150		$	4,803		$	(2,691	)	$	6,794
Expenses:
Direct vehicle and operating	2,200			587			992			(1		)	3,778
Depreciation of revenue earning vehicles and lease charges, net	2,252			540			1,836			(2,688		)	1,940
Selling, general and administrative	456			36			195			(2		)	685
Interest expense, net	310			(39		)	209			—			480
Other (income) expense, net	4			(10		)	(80		)	—			(86		)
Total expenses	5,222			1,114			3,152			(2,691		)	6,797
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(1,690		)	36			1,651			—			(3		)
Income tax (provision) benefit	831			(28		)	(836		)	—			(33		)
Equity in earnings (losses) of subsidiaries, net of tax	810			317			—			(1,127		)	—
Net income (loss) from continuing operations	(49		)	325			815			(1,127		)	(36		)
Net income (loss) from discontinued operations	—			(3		)	(10		)	—			(13		)
Net income (loss)	(49		)	322			805			(1,127		)	(49		)
Other comprehensive income (loss), net of tax	27			(5		)	45			(40		)	27
Comprehensive income (loss)	$	(22	)	$	317		$	850		$	(1,167	)	$	(22	)

Condensed Cash Flow Statement

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 30, 2017

(In millions)



	Parent (The Hertz Corporation)			Guarantor Subsidiaries			Non- Guarantor Subsidiaries			Eliminations			The Hertz Corporation & Subsidiaries
Net cash provided by (used in) operating activities	$	(80	)	$	17		$	3,255		$	(1,211	)	$	1,981
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	9			1			79			—			89
Revenue earning vehicles expenditures	(195		)	(5		)	(8,483		)	—			(8,683		)
Proceeds from disposal of revenue earning vehicles	123			—			5,162			—			5,285
Capital asset expenditures, non-vehicle	(82		)	(8		)	(34		)	—			(124		)
Proceeds from disposal of property and other equipment	7			—			11			—			18
Proceeds from sale of Brazil Operations, net of retained cash	—			—			94			—			94
Sales of shares in equity investment	—			—			9			—			9
Other	—			—			(4		)	—			(4		)
Capital contributions to subsidiaries	(2,224		)	—			—			2,224			—
Return of capital from subsidiaries	2,263			—			—			(2,263		)	—
Loan to Parent/Guarantor from Non-Guarantor	—			—			80			(80		)	—
Net cash provided by (used in) investing activities	(99		)	(12		)	(3,086		)	(119		)	(3,316		)
Cash flows from financing activities:
Net change in restricted cash and cash equivalents, non-vehicle	(833		)	—			—			—			(833		)
Proceeds from issuance of vehicle debt	1,133			—			5,774			—			6,907
Repayments of vehicle debt	(1,129		)	—			(4,758		)	—			(5,887		)
Proceeds from issuance of non-vehicle debt	2,100			—			—			—			2,100
Repayments of non-vehicle debt	(986		)	—			—			—			(986		)
Payment of financing costs	(18		)	(4		)	(21		)	—			(43		)
Early redemption premium payment	(5		)	—			—			—			(5		)
Advances to Hertz Holdings	(4		)	—			—			—			(4		)
Other	(1		)	—			—			—			(1		)
Capital contributions received from parent	—			—			2,224			(2,224		)	—
Payment of dividends and return of capital	—			—			(3,474		)	3,474			—
Loan to Parent/Guarantor from Non-Guarantor	(80		)	—			—			80			—
Net cash provided by (used in) financing activities	177			(4		)	(255		)	1,330			1,248
Effect of foreign currency exchange rate changes on cash and cash equivalents	—			—			19			—			19
Net increase (decrease) in cash and cash equivalents during the period	(2		)	1			(67		)	—			(68		)
Cash and cash equivalents at beginning of period	458			12			346			—			816
Cash and cash equivalents at end of period	$	456		$	13		$	279		$	—		$	748

THE HERTZ CORPORATION

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

For the Nine Months Ended September 30, 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	$	(2,129	)	$	61		$	4,838		$	(719	)	$	2,051
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle	(36		)	—			47			—			11
Net change in restricted cash and cash equivalents, non-vehicle	—			—			(2		)	—			(2		)
Revenue earning vehicles expenditures	(285		)	(51		)	(8,374		)	—			(8,710		)
Proceeds from disposal of revenue earning vehicles	219			—			6,201			—			6,420
Capital asset expenditures, non-vehicle	(56		)	(13		)	(30		)	—			(99		)
Proceeds from disposal of property and other equipment	29			2			22			—			53
Sales of shares in equity investment, net of amounts invested	(45		)	—			233			—			188
Capital contributions to subsidiaries	(1,260		)	—			—			1,260			—
Return of capital from subsidiaries	2,516			—			—			(2,516		)	—
Loan to Parent/Guarantor from Non-Guarantor	—			—			(973		)	973			—
Net cash provided by (used in) investing activities from continuing operations	1,082			(62		)	(2,876		)	(283		)	(2,139		)
Cash flows from financing activities:
Proceeds from issuance of vehicle debt	442			—			7,223			—			7,665
Repayments of vehicle debt	(433		)	—			(6,887		)	—			(7,320		)
Proceeds from issuance of non-vehicle debt	2,427			—			—			—			2,427
Repayments of non-vehicle debt	(3,684		)	—			—			—			(3,684		)
Payment of financing costs	(45		)	(3		)	(25		)	—			(73		)
Early redemption premium payment	(13		)	—			—			—			(13		)
Transfers from discontinued entities	2,122			—			—			—			2,122
Advances to Hertz Holdings	(100		)	—			—			—			(100		)
Other	10			—			—			—			10
Capital contributions received from parent	—			—			1,260			(1,260		)	—
Payment of dividends and return of capital	(1		)	—			(3,234		)	3,235			—
Loan to Parent/Guarantor from Non-Guarantor	973			—			—			(973		)	—
Net cash provided by (used in) financing activities from continuing operations	1,698			(3		)	(1,663		)	1,002			1,034
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	—			—			10			—			10
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	651			(4		)	309			—			956
Cash and cash equivalents at beginning of period	179			17			278			—			474
Cash and cash equivalents at end of period	$	830		$	13		$	587		$	—		$	1,430

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

Background (Details)	9 Months Ended
Background (Details)	Sep. 30, 2017
Hertz Global Holdings
Class of Stock [Line Items]
Stock distribution ratio	0.2

Basis of Presentation and Recently Issued Accounting Pronouncements (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in net loss from misstatement related to income tax provision	$ 50	$ 64	$ (108)	$ 33
Payments to Acquire Revenue Earning Equipment			8,683	8,710
Proceeds from disposal of revenue earning vehicles			$ 5,285	6,420
Record deferred tax asset \| Other Immaterial Errors
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Increase in net loss from misstatement related to income tax provision	$ 10
Payments to Acquire Revenue Earning Equipment				540
Proceeds from disposal of revenue earning vehicles				$ (540)

Basis of Presentation and Recently Issued Accounting Pronouncements (Recent Issued Accounting Pronouncements) (Details) - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred income taxes, net	$ 1,958	$ 2,149
Total liabilities	20,478	18,080
Accumulated deficit	(1,122)	(882)
Total equity	866	1,075
Total liabilities and equity	21,344	19,155
Restricted cash and cash equivalents:	1,029	278
Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred income taxes, net		2,100
Total liabilities		18,031
Accumulated deficit		(833)
Total equity		1,124
Total liabilities and equity		19,155
Accounting Standards Update 2016-09 \| As of December 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred income taxes, net		2,149
Total liabilities		18,080
Accumulated deficit		(882)
Total equity		1,075
Total liabilities and equity		19,155
Accounting Standards Update 2016-09 \| Record deferred tax asset
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred income taxes, net		(49)
Total liabilities		(49)
Accumulated deficit		49
Total equity		49
Total liabilities and equity		0
The Hertz Corporation
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred income taxes, net	1,959	2,149
Total liabilities	20,479	18,080
Accumulated deficit	(2,104)	(1,867)
Total equity	865	1,075
Total liabilities and equity	21,344	19,155
Restricted cash and cash equivalents:	$ 1,029	278
The Hertz Corporation \| Accounting Standards Update 2016-09
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred income taxes, net		2,100
Total liabilities		18,031
Accumulated deficit		(1,818)
Total equity		1,124
Total liabilities and equity		19,155
The Hertz Corporation \| Accounting Standards Update 2016-09 \| As of December 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred income taxes, net		2,149
Total liabilities		18,080
Accumulated deficit		(1,867)
Total equity		1,075
Total liabilities and equity		19,155
The Hertz Corporation \| Accounting Standards Update 2016-09 \| Record deferred tax asset
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred income taxes, net		(49)
Total liabilities		(49)
Accumulated deficit		49
Total equity		49
Total liabilities and equity		$ 0

Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Discontinued Operations (Details) - USD ($) $ in Millions	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) from discontinued operations	$ 0	$ (2)	$ 0	$ (15)
The Hertz Corporation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) from discontinued operations	$ 0	(2)	$ 0	(13)
Old Hertz Holdings' Worldwide Equipment Rental \| Discontinued Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenues		0		677
Direct operating expenses		0		366
Depreciation of revenue earning equipment and lease charges, net		0		181
Selling, general and administrative		0		123
Interest expense, net		0		17
Other (income) expense, net		0		(1)
Income (loss) from discontinued operations before income taxes		0		(9)
(Provision) benefit for taxes on discontinued operations		(2)		(6)
Net income (loss) from discontinued operations		(2)		(15)
Old Hertz Holdings' Worldwide Equipment Rental \| Discontinued Operations \| The Hertz Corporation
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenues		0		677
Direct operating expenses		0		366
Depreciation of revenue earning equipment and lease charges, net		0		181
Selling, general and administrative		0		124
Interest expense, net		0		13
Other (income) expense, net		0		(1)
Income (loss) from discontinued operations before income taxes		0		(6)
(Provision) benefit for taxes on discontinued operations		(2)		(7)
Net income (loss) from discontinued operations		$ (2)		(13)
Old Hertz Holdings' Worldwide Equipment Rental \| Discontinued Operations \| Senior ABL Facility
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Interest expense, net				$ 5

Acquisitions and Divestitures (Divestiture) (Details) - USD ($) shares in Millions, $ in Millions	1 Months Ended			3 Months Ended		6 Months Ended	12 Months Ended
	Sep. 30, 2017	Aug. 31, 2017	Mar. 31, 2016	Sep. 30, 2017	Mar. 31, 2017	Jun. 30, 2017	Dec. 31, 2016
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on sale of stock	$ 4
CAR, Inc
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net sales proceeds			$ 240
Ownership percentage			1.70%
CAR, Inc \| Common Stock
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of shares sold			204
Net sales proceeds			$ 233
Deferred gain on sale			7
CAR, Inc \| Common Stock \| Other Operating Income (Expense)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Pre-tax gain on sale of stock			$ 75
Brazil Operations
LIABILITIES
Escrow deposits		$ 13
Brazil Operations \| Fair Value, Measurements, Nonrecurring
LIABILITIES
Brazil Operations	$ 115			$ 115
Gain on sale		$ (6)		$ (6)	$ (4)	$ 4
Held-for-sale \| Brazil Operations
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Tangible Asset Impairment Charges							$ 18
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 (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Revenue Earning Vehicles (Details) - USD ($) $ in Millions	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Revenue earning vehicles	$ 15,055		$ 15,055		$ 13,287
Less: Accumulated depreciation	(3,036)		(3,036)		(2,678)
Subtotal	12,019		12,019		10,609
Revenue earning vehicles held for sale, net	357		357		209
Total revenue earning vehicles, net	12,376		12,376		$ 10,818
Depreciation of revenue earning vehicles	636	$ 631	1,902	$ 1,766
(Gain) loss on disposal of revenue earning equipment	43	44	187	121
Rents paid for vehicles leased	21	20	55	53
Depreciation of revenue earning equipment and lease charges, net	700	695	2,144	1,940
U.S. Rental Car
Property, Plant and Equipment [Line Items]
(Gain) loss on disposal of revenue earning equipment	43	43	187	124
Other cost of services	36	27	99	80
International Rental Car
Property, Plant and Equipment [Line Items]
(Gain) loss on disposal of revenue earning equipment	$ 0	$ 1	$ 0	$ (3)

Revenue Earning Vehicles (Depreciation Rates) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenue earning equipment
Depreciation rate changes	$ 10	$ 44	$ 73	$ 91
U.S. Rental Car
Revenue earning equipment
Depreciation rate changes	6	43	68	88
U.S. Rental Car \| Other Immaterial Error Corrections
Revenue earning equipment
Depreciation rate changes	(15)	39		39
International Rental Car
Revenue earning equipment
Depreciation rate changes	$ 4	$ 1	$ 5	$ 3

Goodwill and Intangible Assets (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairments		$ 0	$ 0	$ 86	$ 0
U.S. Rental Car
Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairments		$ 26
Dollar Thrifty tradename \| U.S. Rental Car
Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairments	$ 86
Weighted average cost of capital assumption, percent increase		1.00%		1.00%
Weighted average cost of capital assumption, adjustment amount		$ 80		$ 80
Fair Value, Measurements, Nonrecurring
Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairments		0		86
Intangible assets		$ 934		$ 934

Debt (Schedule of Debt) (Details) € in Millions, $ in Millions, $ in Millions	1 Months Ended
	Jan. 31, 2018 USD ($)	Sep. 30, 2017 USD ($) € / $	Sep. 30, 2017 EUR (€) € / $	Sep. 30, 2017 CAD ($) € / $	Jun. 30, 2017	Apr. 30, 2017 USD ($)	Dec. 31, 2016 USD ($) € / $
Debt Instrument [Line Items]
Debt:		$ 15,919					$ 13,541
Non-Vehicle Debt
Debt Instrument [Line Items]
Unamortized Net Discount		(44)					(39)
Debt:		$ 5,003					3,895
Senior Term Loan
Debt Instrument [Line Items]
Average interest rate (as a percent)		3.99%	3.99%	3.99%
Outstanding principal		$ 691					697
Senior RCF
Debt Instrument [Line Items]
Average interest rate (as a percent)		4.49%	4.49%	4.49%
Outstanding principal		$ 120					0
Senior Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)		6.22%	6.22%	6.22%
Outstanding principal		$ 2,950					3,200
4.25% Senior Notes due April 2018
Debt Instrument [Line Items]
Outstanding principal		$ 0					250
Interest rate		4.25%	4.25%	4.25%	4.25%
6.75% Senior Notes due April 2019
Debt Instrument [Line Items]
Outstanding principal		$ 450					450
Interest rate		6.75%	6.75%	6.75%
5.875% Senior Notes due October 2020
Debt Instrument [Line Items]
Outstanding principal		$ 700					700
Interest rate		5.875%	5.875%	5.875%
7.375% Senior Notes due January 2021
Debt Instrument [Line Items]
Outstanding principal		$ 500					500
Interest rate		7.375%	7.375%	7.375%
6.25% Senior Notes due October 2022
Debt Instrument [Line Items]
Outstanding principal		$ 500					500
Interest rate		6.25%	6.25%	6.25%
5.50% Senior Notes due October 2024
Debt Instrument [Line Items]
Outstanding principal		$ 800					800
Interest rate		5.50%	5.50%	5.50%
Senior Second Priority Secured Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)		7.63%	7.63%	7.63%
Outstanding principal		$ 1,250					0
Promissory Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)		7.00%	7.00%	7.00%
Outstanding principal		$ 27					27
Other Non-Vehicle Debt
Debt Instrument [Line Items]
Average interest rate (as a percent)		1.96%	1.96%	1.96%
Outstanding principal		$ 9					10
Vehicle Debt
Debt Instrument [Line Items]
Unamortized Net Discount		(46)					(39)
Debt:		10,916					9,646
U.S. Fleet Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal		$ 721					855
U.S. Fleet Medium Term Notes Series 2010-1 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)		4.96%	4.96%	4.96%
Outstanding principal		$ 96					115
U.S. Fleet Medium Term Notes Series 2011-1 Notes
Debt Instrument [Line Items]
Outstanding principal		$ 0					115
U.S. Fleet Medium Term Notes Series 2013-1 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)		1.91%	1.91%	1.91%
Outstanding principal		$ 625					625
Total
Debt Instrument [Line Items]
Outstanding principal		$ 2,210					2,470
HVF II Series 2013-A
Debt Instrument [Line Items]
Average interest rate (as a percent)		2.61%	2.61%	2.61%
Outstanding principal		$ 2,024					1,844
Face Amount		$ 3,400
HVF II Series 2013-B
Debt Instrument [Line Items]
Average interest rate (as a percent)		2.51%	2.51%	2.51%
Outstanding principal		$ 186					626
Face Amount		291
HVF II Series 2017-A
Debt Instrument [Line Items]
Outstanding principal		0					0
HVF II U.S. Fleet Variable Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal		$ 4,125					3,180
U.S. Fleet Medium Term Notes 2015 Series 1
Debt Instrument [Line Items]
Average interest rate (as a percent)		2.93%	2.93%	2.93%
Outstanding principal		$ 780					780
U.S. Fleet Medium Term Notes 2015 Series 2
Debt Instrument [Line Items]
Average interest rate (as a percent)		2.45%	2.45%	2.45%
Outstanding principal		$ 265					250
U.S. Fleet Medium Term Notes 2015 Series 3
Debt Instrument [Line Items]
Average interest rate (as a percent)		3.10%	3.10%	3.10%
Outstanding principal		$ 371					350
U.S. Fleet Medium Term Notes 2016 Series 1
Debt Instrument [Line Items]
Average interest rate (as a percent)		2.89%	2.89%	2.89%
Outstanding principal		$ 466					439
U.S. Fleet Medium Term Notes 2016 Series 2
Debt Instrument [Line Items]
Average interest rate (as a percent)		3.41%	3.41%	3.41%
Outstanding principal		$ 595					561
U.S. Fleet Medium Term Notes 2016 Series 3
Debt Instrument [Line Items]
Average interest rate (as a percent)		2.72%	2.72%	2.72%
Outstanding principal		$ 424					400
U.S. Fleet Medium Term Notes 2016 Series 4
Debt Instrument [Line Items]
Average interest rate (as a percent)		3.09%	3.09%	3.09%
Outstanding principal		$ 424					400
U.S. Fleet Medium Term Notes 2017 Series 1
Debt Instrument [Line Items]
Average interest rate (as a percent)		3.38%	3.38%	3.38%
Outstanding principal		$ 450					0
U.S. Fleet Medium Term Notes 2017 Series 2
Debt Instrument [Line Items]
Average interest rate (as a percent)		3.57%	3.57%	3.57%
Outstanding principal		$ 350					0
Donlen ABS Program
Debt Instrument [Line Items]
Outstanding principal		$ 220					410
HFLF Series 2013-2 Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)		2.23%	2.23%	2.23%
Outstanding principal		$ 220					410
HFLF Medium Term Notes
Debt Instrument [Line Items]
Outstanding principal		1,077					877
Face Amount		820
HFLF Series 2013-3
Debt Instrument [Line Items]
Outstanding principal		$ 0					96
HFLF Series 2014-1
Debt Instrument [Line Items]
Average interest rate (as a percent)		2.55%	2.55%	2.55%
Outstanding principal		$ 49					148
HFLF Series 2015-1
Debt Instrument [Line Items]
Average interest rate (as a percent)		1.98%	1.98%	1.98%
Outstanding principal		$ 173					248
HFLF Series 2016-1
Debt Instrument [Line Items]
Average interest rate (as a percent)		2.45%	2.45%	2.45%
Outstanding principal		$ 355					385
HFLF Series 2017-1
Debt Instrument [Line Items]
Average interest rate (as a percent)		2.24%	2.24%	2.24%
Outstanding principal		$ 500					0
Face Amount						$ 500
Other Fleet Debt
Debt Instrument [Line Items]
Outstanding principal		$ 2,609					1,893
U.S. Vehicle RCF
Debt Instrument [Line Items]
Average interest rate (as a percent)		3.59%	3.59%	3.59%
Outstanding principal		$ 198					193
U.S. Vehicle RCF \| Forecast
Debt Instrument [Line Items]
Decrease to borrowing capacity of revolving credit facility	$ 67
European Revolving Credit Facility
Debt Instrument [Line Items]
Average interest rate (as a percent)		2.75%	2.75%	2.75%
Outstanding principal		$ 294					147
Face Amount \| €			€ 235
European Fleet Notes
Debt Instrument [Line Items]
Average interest rate (as a percent)		4.29%	4.29%	4.29%
Outstanding principal		$ 763					$ 677
Foreign currency exchange rate (EURO to USD) \| € / $		1.17	1.17	1.17			1.04
4.375% Due January 2019
Debt Instrument [Line Items]
Outstanding principal		$ 499					$ 443
Interest rate		4.375%	4.375%	4.375%
Face Amount \| €			€ 425
4.125% Due October 2021
Debt Instrument [Line Items]
Outstanding principal		$ 264					234
Interest rate		4.125%	4.125%	4.125%
Face Amount \| €			€ 225
European Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)		1.55%	1.55%	1.55%
Outstanding principal		$ 520					312
Canadian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)		2.35%	2.35%	2.35%
Outstanding principal		$ 281					162
Face Amount				$ 350
Australian Securitization
Debt Instrument [Line Items]
Average interest rate (as a percent)		3.11%	3.11%	3.11%
Outstanding principal		$ 133					117
New Zealand RCF
Debt Instrument [Line Items]
Average interest rate (as a percent)		4.28%	4.28%	4.28%
Outstanding principal		$ 35					41
Capitalized Leases
Debt Instrument [Line Items]
Average interest rate (as a percent)		2.78%	2.78%	2.78%
Outstanding principal		$ 385					$ 244

Debt (Debt Sold) (Details) - Loans Payable $ in Millions	1 Months Ended
Debt (Debt Sold) (Details) - Loans Payable $ in Millions	Aug. 31, 2017 USD ($)
Total
Extinguishment of Debt [Line Items]
Debt sold	$ 145
HVF II Series 2015-2 Class D Notes
Extinguishment of Debt [Line Items]
Debt sold	15
HVF II Series 2015-3 Class D Notes
Extinguishment of Debt [Line Items]
Debt sold	21
HVF II Series 2016-1 Class D Notes
Extinguishment of Debt [Line Items]
Debt sold	27
HVF II Series 2016-2 Class D Notes
Extinguishment of Debt [Line Items]
Debt sold	34
HVF II Series 2016-3 Class D Notes
Extinguishment of Debt [Line Items]
Debt sold	24
HVF II Series 2016-4 Class D Notes
Extinguishment of Debt [Line Items]
Debt sold	$ 24

Debt (Narrative) (Details) € in Millions, $ in Millions		1 Months Ended					3 Months Ended	9 Months Ended
Debt (Narrative) (Details) € in Millions, $ in Millions	Nov. 02, 2017 USD ($)	Jan. 31, 2018 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	May 31, 2017 USD ($)	Apr. 30, 2017 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)	Nov. 08, 2017 USD ($)	Sep. 30, 2017 EUR (€)	Sep. 30, 2017 CAD ($)	May 31, 2017 EUR (€)	Feb. 28, 2017 USD ($)	Feb. 28, 2017 EUR (€)	Dec. 31, 2016 USD ($)
Debt Instrument [Line Items]
VIE, total assets			$ 775,000,000				$ 775,000,000	$ 775,000,000								$ 454,000,000
VIE, total liabilities			775,000,000				775,000,000	775,000,000								454,000,000
Remaining capacity			2,972,000,000				2,972,000,000	2,972,000,000
HFLF Medium Term Notes
Debt Instrument [Line Items]
Face Amount			820,000,000				820,000,000	820,000,000
Outstanding principal			1,077,000,000				1,077,000,000	1,077,000,000								877,000,000
Remaining capacity			280,000,000				280,000,000	280,000,000
HVF II Series 2017-2 Class D Notes and Class RR Notes
Debt Instrument [Line Items]
Related Party Transaction, Purchases from Related Party			20,000,000
European Revolving Credit Facility
Debt Instrument [Line Items]
Face Amount \| €											€ 235.0
Outstanding principal			294,000,000				294,000,000	294,000,000								147,000,000
Remaining capacity			0				0	0
European Vehicle Notes
Debt Instrument [Line Items]
Outstanding principal			763,000,000				763,000,000	763,000,000								677,000,000
European Securitization
Debt Instrument [Line Items]
Outstanding principal			520,000,000				520,000,000	520,000,000								312,000,000
Remaining capacity			20,000,000				20,000,000	20,000,000
UK Leveraged Financing
Debt Instrument [Line Items]
Face Amount \| €											€ 250.0		€ 287.5		€ 250.0
New Zealand RCF
Debt Instrument [Line Items]
Outstanding principal			35,000,000				35,000,000	35,000,000								41,000,000
Remaining capacity			8,000,000				8,000,000	8,000,000
HFLF Series 2015-1
Debt Instrument [Line Items]
Outstanding principal			173,000,000				173,000,000	173,000,000								248,000,000
Canadian Securitization
Debt Instrument [Line Items]
Face Amount												$ 350
Outstanding principal			281,000,000				281,000,000	281,000,000								162,000,000
Remaining capacity			0				$ 0	0
Senior ABL Facility
Debt Instrument [Line Items]
Fixed charge coverage ratio, number of quarters							1 year
Remaining capacity			644,000,000				$ 644,000,000	644,000,000
Senior RCF
Debt Instrument [Line Items]
Outstanding standby letters of credit			786,000,000				786,000,000	786,000,000
Outstanding principal			120,000,000				120,000,000	120,000,000								0
Senior Term Loan
Debt Instrument [Line Items]
Outstanding principal			$ 691,000,000				$ 691,000,000	$ 691,000,000								697,000,000
6.75% Senior Notes due April 2019
Debt Instrument [Line Items]
Interest rate			6.75%				6.75%	6.75%			6.75%	6.75%
Outstanding principal			$ 450,000,000				$ 450,000,000	$ 450,000,000								450,000,000
5.50% Senior Notes due October 2024
Debt Instrument [Line Items]
Interest rate			5.50%				5.50%	5.50%			5.50%	5.50%
Outstanding principal			$ 800,000,000				$ 800,000,000	$ 800,000,000								800,000,000
Senior Second Priority Secured Notes, 7.625%, Due 2022
Debt Instrument [Line Items]
Interest rate			7.625%				7.625%	7.625%			7.625%	7.625%
Face Amount			$ 1,250,000,000.00				$ 1,250,000,000.00	$ 1,250,000,000.00
U.S. Vehicle RCF
Debt Instrument [Line Items]
Outstanding principal			198,000,000				198,000,000	198,000,000								193,000,000
Remaining capacity			2,000,000				2,000,000	2,000,000
Vehicle Debt
Debt Instrument [Line Items]
Remaining capacity			2,328,000,000				2,328,000,000	2,328,000,000
Senior Term Loan and Senior Facilities
Debt Instrument [Line Items]
Face Amount														$ 700,000,000
Senior Revolving Credit Facility
Debt Instrument [Line Items]
Decrease to borrowing capacity of revolving credit facility				$ 150,000,000
Repayments of debt and early redemption premiums				$ 8,000,000
Long-term Line of Credit			$ 1,550,000,000				$ 1,550,000,000	$ 1,550,000,000
Unrestricted cash netting cap														$ 500,000,000
4.25% Senior Notes due April 2018
Debt Instrument [Line Items]
Interest rate			4.25%	4.25%			4.25%	4.25%			4.25%	4.25%
Repayments of debt				$ 250,000,000
Repayments of debt and early redemption premiums				266,000,000
Outstanding principal			$ 0				$ 0	$ 0								250,000,000
HFLF Series 2013-2 Notes
Debt Instrument [Line Items]
Outstanding principal			220,000,000				220,000,000	220,000,000								410,000,000
HFLF Series 2017-1
Debt Instrument [Line Items]
Face Amount						$ 500,000,000
Outstanding principal			500,000,000				500,000,000	500,000,000								0
HFLF Series 2016-1
Debt Instrument [Line Items]
Outstanding principal			$ 355,000,000				$ 355,000,000	$ 355,000,000								385,000,000
4.125% Due October 2021
Debt Instrument [Line Items]
Interest rate			4.125%				4.125%	4.125%			4.125%	4.125%
Face Amount \| €											€ 225.0
Outstanding principal			$ 264,000,000				$ 264,000,000	$ 264,000,000								234,000,000
Senior Notes
Debt Instrument [Line Items]
Outstanding principal			2,950,000,000				2,950,000,000	2,950,000,000								3,200,000,000
HVF II Series 2017-A Notes, Due October 2018
Debt Instrument [Line Items]
Face Amount						500,000,000
HVF II Series 2013-A
Debt Instrument [Line Items]
Repayments of debt			770,000,000
Face Amount			3,400,000,000				3,400,000,000	3,400,000,000
Debt instrument, increase (decrease), net				$ 300,000,000		$ 250,000,000
Outstanding principal			2,024,000,000				2,024,000,000	2,024,000,000								1,844,000,000
HVF II Series 2013-B
Debt Instrument [Line Items]
Face Amount			291,000,000				291,000,000	291,000,000
Outstanding principal			186,000,000				186,000,000	186,000,000								$ 626,000,000
Forecast \| U.S. Vehicle RCF
Debt Instrument [Line Items]
Decrease to borrowing capacity of revolving credit facility		$ 67,000,000
Letter of Credit
Debt Instrument [Line Items]
Outstanding standby letters of credit			799,000,000				799,000,000	799,000,000
Vehicles
Debt Instrument [Line Items]
Repayments of debt								5,887,000,000	$ 7,320,000,000
Repayments of principal in next twelve months			2,100,000,000				2,100,000,000	2,100,000,000
Debt maturities prior to September 30, 2018			1,700,000,000				1,700,000,000	1,700,000,000
Increase (decrease) in restricted cash								(89,000,000)	(11,000,000)
Vehicles \| The Hertz Corporation
Debt Instrument [Line Items]
Repayments of debt								5,887,000,000	7,320,000,000
Increase (decrease) in restricted cash								(89,000,000)	(11,000,000)
Non-vehicle
Debt Instrument [Line Items]
Repayments of debt								986,000,000	3,684,000,000
Repayments of principal in next twelve months			0				0	0
Debt maturities prior to September 30, 2018			$ 23,000,000				$ 23,000,000	23,000,000
Increase (decrease) in restricted cash									2,000,000
Non-vehicle \| The Hertz Corporation
Debt Instrument [Line Items]
Repayments of debt								986,000,000	3,684,000,000
Increase (decrease) in restricted cash								$ 833,000,000	$ 2,000,000
Affiliated Entity \| HFLF Series 2016-1, Class E
Debt Instrument [Line Items]
Proceeds from sale of debt					$ 15,000,000
Subsequent Event \| Senior RCF
Debt Instrument [Line Items]
Decrease to borrowing capacity of revolving credit facility	$ 383,000,000
Remaining capacity										$ 542,000,000
Covenant compliance, line of credit facility borrowing threshold	$ 2,400,000,000
Subsequent Event \| Senior Credit Facility, Maturing June 30, 2021
Debt Instrument [Line Items]
Current borrowing capacity										$ 400,000,000
Subsequent Event \| Vehicles \| 6.75% Senior Notes due April 2019
Debt Instrument [Line Items]
Interest rate										6.75%
Outstanding principal										$ 450,000,000

Debt (Borrowing Capacity) (Details) $ in Millions	Sep. 30, 2017 USD ($)
Debt Instrument [Line Items]
Remaining capacity	$ 2,972
Availability under borrowing base limitation	652
Senior ABL Facility
Debt Instrument [Line Items]
Remaining capacity	644
Availability under borrowing base limitation	644
Non-Vehicle Debt
Debt Instrument [Line Items]
Remaining capacity	644
Availability under borrowing base limitation	644
U.S. Vehicle RCF
Debt Instrument [Line Items]
Remaining capacity	2
Availability under borrowing base limitation	2
HVF II U.S. ABS Program
Debt Instrument [Line Items]
Remaining capacity	1,955
Availability under borrowing base limitation	0
HFLF Medium Term Notes
Debt Instrument [Line Items]
Remaining capacity	280
Availability under borrowing base limitation	5
European Revolving Credit Facility
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
European Securitization
Debt Instrument [Line Items]
Remaining capacity	20
Availability under borrowing base limitation	0
Canadian Securitization
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
Australian Securitization
Debt Instrument [Line Items]
Remaining capacity	63
Availability under borrowing base limitation	1
Capitalized Leases
Debt Instrument [Line Items]
Remaining capacity	0
Availability under borrowing base limitation	0
New Zealand RCF
Debt Instrument [Line Items]
Remaining capacity	8
Availability under borrowing base limitation	0
Vehicle Debt
Debt Instrument [Line Items]
Remaining capacity	2,328
Availability under borrowing base limitation	$ 8

Debt (Covenant Ratios) (Details)	Dec. 31, 2017	Sep. 30, 2017
Debt Instrument [Line Items]
Maximum consolidated leverage ratio		3.25
Forecast
Debt Instrument [Line Items]
Maximum consolidated leverage ratio	3.00

Employee Retirement Benefits (Net Periodic Pension Expense) (Details) - Pension Plan - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
U.S. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	$ 1	$ 1	$ 1	$ 2
Interest cost	5	5	16	16
Expected return on plan assets	(7)	(7)	(20)	(21)
Net amortizations	1	2	3	6
Settlement loss			1	1
Net periodic pension expense (benefit)	0	1	1	4
Non-U.S. Pension Plan
Defined Benefit Plan Disclosure [Line Items]
Service cost	0	0	1	1
Interest cost	2	2	5	6
Expected return on plan assets	(3)	(3)	(8)	(9)
Net amortizations	0	0	1	0
Settlement loss			0	0
Net periodic pension expense (benefit)	$ (1)	$ (1)	$ (1)	$ (2)

Stock-Based Compensation (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Expense (Benefit) [Abstract]
Compensation expense	$ 4	$ 5	$ 16	$ 16
Income tax benefit	(2)	(2)	(6)	(6)
Total	2	$ 3	10	$ 10
Unrecognized compensation cost	23		$ 23
Compensation cost not yet recognized, period for recognition			1 year 7 months 6 days
2017 Executive Incentive Compensation Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected number of awards expected under the plan			274,000
Income Tax Expense (Benefit) [Abstract]
Compensation expense	1		$ 5
2016 Omnibus Plan
Income Tax Expense (Benefit) [Abstract]
Compensation expense	$ 3		$ 11
2016 Omnibus Plan \| Equity Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, net of forfeitures			573,432
Weighted average grant date fair value (in dollars per share)			$ 9.33
2016 Omnibus Plan \| Equity Option \| Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
2016 Omnibus Plan \| Equity Option \| Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			5 years
2016 Omnibus Plan \| Restricted Stock Units (RSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, net of forfeitures			621,910
Weighted average grant date fair value (in dollars per share)			$ 19.20
2016 Omnibus Plan \| Performance Stock Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, net of forfeitures			423,052
Weighted average grant date fair value (in dollars per share)			$ 22.08
2016 Omnibus Plan \| Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period, net of forfeitures			664,643
Weighted average grant date fair value (in dollars per share)			$ 22.19

Restructuring (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
Restructuring (Details) - USD ($) $ in Millions	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Restructuring details
Restructuring charges	$ 0	$ 37	$ 3	$ 62
Restructuring reserve
Balance as of December 31, 2016			27
Charges incurred			3
Cash payments			(11)
Other non-cash changes			1
Balance as of September 30, 2017	20		20
U.S. Rental Car
Restructuring details
Restructuring charges	0	30	1	51
International Rental Car
Restructuring details
Restructuring charges	0	3	1	7
Corporate
Restructuring details
Restructuring charges	0	4	1	4
Direct vehicle and operating
Restructuring details
Restructuring charges	0	29	0	38
Selling, general and administrative
Restructuring details
Restructuring charges	0	8	3	24
Termination benefits
Restructuring details
Restructuring charges	0	7	3	23
Restructuring reserve
Balance as of December 31, 2016			13
Charges incurred			3
Cash payments			(8)
Other non-cash changes			1
Balance as of September 30, 2017	9		9
Impairments and asset write-downs
Restructuring details
Restructuring charges	0	28	0	31
Facility closure and lease obligation costs
Restructuring details
Restructuring charges	0	2	0	7
Other
Restructuring details
Restructuring charges	0	$ 0	0	$ 1
Restructuring reserve
Balance as of December 31, 2016			14
Charges incurred			0
Cash payments			(3)
Other non-cash changes			0
Balance as of September 30, 2017	$ 11		$ 11

Income Tax (Provision) Benefit (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Income Tax Contingency [Line Items]
Effective tax rate (as percent)	(35.00%)	(59.00%)	27.00%	(1100.00%)
Income tax (provision) benefit	$ (50)	$ (64)	$ 108	$ (33)
The Hertz Corporation
Income Tax Contingency [Line Items]
Effective tax rate (as percent)	(35.00%)	(59.00%)	27.00%	(1100.00%)
Income tax (provision) benefit	$ (50)	$ (64)	$ 107	$ (33)

Tangible Assets Impairments and Asset Write-downs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairments	$ 0	$ 0	$ 86	$ 0
U.S. Rental Car
Acquired Indefinite-lived Intangible Assets [Line Items]
Intangible asset impairments	$ 26

Fair Value Measurements (Cash and Cash Equivalents and Investments) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 298	$ 615
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	38	222
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	260	393
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Money market funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	298	606
Money market funds \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	38	213
Money market funds \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	260	393
Money market funds \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Equity and other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	9
Equity and other securities \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	9
Equity and other securities \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Equity and other securities \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 0	$ 0

Fair Value Measurements (Financial Instruments) (Details) - Fair Value, Measurements, Recurring - Level 2 - USD ($) $ in Millions	Sep. 30, 2017	Dec. 31, 2016
Fair Value of Financial Instruments [Abstract]
Nominal Unpaid Principal Balance	$ 16,009	$ 13,619
Aggregate Fair Value	15,908	13,461
Other Non-Vehicle Debt
Fair Value of Financial Instruments [Abstract]
Nominal Unpaid Principal Balance	5,047	3,934
Aggregate Fair Value	4,962	3,791
Vehicle Debt
Fair Value of Financial Instruments [Abstract]
Nominal Unpaid Principal Balance	10,962	9,685
Aggregate Fair Value	$ 10,946	$ 9,670

Fair Value Measurements (Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis (Details) - USD ($) $ in Millions	1 Months Ended		3 Months Ended			6 Months Ended	9 Months Ended
	Aug. 31, 2017	Mar. 31, 2017	Sep. 30, 2017	Mar. 31, 2017	Sep. 30, 2016	Jun. 30, 2017	Sep. 30, 2017	Sep. 30, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investment, other than temporary impairment		$ (30)
Intangible asset impairments			$ 0		$ 0		$ 86	$ 0
Fair Value, Measurements, Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investments			8				8
Equity method investment, other than temporary impairment			(4)				(26)
Intangible assets			934				934
Intangible asset impairments			0				86
Fair Value, Measurements, Nonrecurring \| Brazil Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Brazil Operations			115				115
Loss on sale	$ (6)		(6)	$ (4)		$ 4
Fair Value, Measurements, Nonrecurring \| Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investments			0				0
Intangible assets			0				0
Fair Value, Measurements, Nonrecurring \| Level 1 \| Brazil Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Brazil Operations			0				0
Fair Value, Measurements, Nonrecurring \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investments			0				0
Intangible assets			0				0
Fair Value, Measurements, Nonrecurring \| Level 2 \| Brazil Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Brazil Operations			115				115
Fair Value, Measurements, Nonrecurring \| Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Equity method investments			8				8
Intangible assets			934				934
Fair Value, Measurements, Nonrecurring \| Level 3 \| Brazil Operations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Brazil Operations			$ 0				$ 0

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended
	Sep. 30, 2017	Mar. 31, 2017	Apr. 30, 2016
Fair Value Disclosures [Abstract]
Payments to acquire equity method investment			$ 45
Other than temporary impairment of equity method investment		$ 30
Pre-tax gain on sale of remaining investment	$ 4

Contingencies and Off-Balance Sheet Commitments (Details) - USD ($) $ in Millions	1 Months Ended
	Jan. 31, 2016	Oct. 31, 2014	Sep. 30, 2017	Dec. 31, 2016	Sep. 30, 2015
Loss Contingencies [Line Items]
Public liability and property damage			$ 448	$ 407
Concession Fee Recoveries
Loss Contingencies [Line Items]
Litigation settlement amount		$ 42
Litigation settlement interest		11
Litigation settlement expense		3
French Road Tax
Loss Contingencies [Line Items]
Additional reserve established					$ 23
Ministry of the Economy, Finance and Industry, France \| French Road Tax
Loss Contingencies [Line Items]
Payments for other taxes	$ 9
Restitution Fund \| Concession Fee Recoveries
Loss Contingencies [Line Items]
Litigation settlement expense		$ 3

Related Party Transactions (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Jun. 30, 2016
Related Party Transaction [Line Items]
Due from related parties			$ 425		$ 425
Affiliated Entity
Related Party Transaction [Line Items]
Purchases from related party	$ 3	$ 8
Affiliated Entity \| Master Loan Agreement
Related Party Transaction [Line Items]
Due from related parties	106	106		$ 102
Affiliated Entity \| Tax Related Liability
Related Party Transaction [Line Items]
Due from related parties	$ 65	$ 65		$ 65

Earnings (Loss) Per Share - Hertz Global (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income (loss)	$ 93	$ 44	$ (289)	$ (36)
Net income (loss) from discontinued operations	0	(2)	0	(15)
Net income (loss)	$ 93	$ 42	$ (289)	$ (51)
Basic weighted average common shares	83	84	83	85
Dilutive stock options, RSUs, PSUs and PSAs	0	1	0	0
Weighted average shares used to calculate diluted earnings per share	83	85	83	85
Earnings (loss) per share:
Basic earnings (loss) per share from continuing operations (in dollars per share)	$ 1.12	$ 0.52	$ (3.48)	$ (0.42)
Basic earnings (loss) per share from discontinued operations (in dollars per share)	0.00	(0.02)	0.00	(0.18)
Basic earnings (loss) per share (in dollars per share)	1.12	0.50	(3.48)	(0.60)
Diluted earnings (loss) per share from continuing operations (in dollars per share)	1.12	0.52	(3.48)	(0.42)
Diluted earnings (loss) per share from discontinued operations (in dollars per share)	0.00	(0.03)	0.00	(0.18)
Diluted earnings (loss) per share (in dollars per share)	$ 1.12	$ 0.49	$ (3.48)	$ (0.60)
Antidilutive stock options, RSUs and PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive stock options, RSUs, PSUs and PSAs	3	1	3	2

Segment Information (Details) $ in Millions	1 Months Ended				3 Months Ended						6 Months Ended	9 Months Ended
Segment Information (Details) $ in Millions	Sep. 30, 2017 USD ($)	Aug. 31, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Mar. 31, 2017 USD ($)	Sep. 30, 2016 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2016 USD ($)	Jun. 30, 2017 USD ($)	Sep. 30, 2017 USD ($) segment	Sep. 30, 2016 USD ($)	Dec. 31, 2016 USD ($)
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Number of reportable segments \| segment												3
Revenues					$ 2,572			$ 2,542				$ 6,713	$ 6,794
Depreciation of revenue earning vehicles and lease charges, net					700			695				2,144	1,940
Total Assets	$ 21,344				21,344							21,344		$ 19,155
Adjusted pre-tax income (loss):					188			212				(107)	159
Adjustments:					143			108				(397)	(3)
Intangible asset impairments					0			0				86	0
Equity method investment, other than temporary impairment				$ 30
Pre-tax gain on sale of remaining investment	4
4.25% Senior Notes due April 2018
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Repayments of debt and early redemption premiums			$ 266
Senior Revolving Credit Facility
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Repayments of debt and early redemption premiums			8
Purchase accounting
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					(15)			(16)				(47)	(49)
Other
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					(12)			(11)				(33)	(36)
Loss on extinguishment of debt
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					0			(20)				(8)	(40)
Restructuring and restructuring related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					(2)			(11)				(14)	(41)
Sale of CAR, Inc. Common Stock
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					0			0				3	75
Impairment charges and asset write-downs
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					0			(28)				(116)	(31)
Finance and Information Technology Transformation Costs
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					(15)			(14)				(55)	(40)
Other
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					(1)			(4)				(20)	0
U.S. Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Intangible asset impairments					26
U.S. Rental Car \| Dollar Thrifty tradename
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Intangible asset impairments			$ 86
Operating Segments
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):					325			334				264	544
Operating Segments \| U.S. Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues					1,685			1,707				4,557	4,697
Depreciation of revenue earning vehicles and lease charges, net					455			462				1,478	1,298
Total Assets	13,000				13,000							13,000		12,876
Adjusted pre-tax income (loss):					158			173				5	312
Operating Segments \| International Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues					728			683				1,683	1,656
Depreciation of revenue earning vehicles and lease charges, net					126			116				311	300
Total Assets	4,706				4,706							4,706		3,578
Adjusted pre-tax income (loss):					147			142				200	179
Operating Segments \| All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues					159			152				473	441
Depreciation of revenue earning vehicles and lease charges, net					119			117				355	342
Total Assets	1,629				1,629							1,629		1,612
Adjusted pre-tax income (loss):					20			19				59	53
Corporate, Non-Segment
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Total Assets	2,009				2,009							2,009		1,089
Adjusted pre-tax income (loss):					(137)			(122)				(371)	(385)
The Hertz Corporation
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Revenues					2,572			2,542				6,713	6,794
Depreciation of revenue earning vehicles and lease charges, net					700			695				2,144	1,940
Total Assets	$ 21,344				21,344							21,344		$ 19,155
Adjusted pre-tax income (loss):					189			212				(103)	159
Adjustments:					144			108				(393)	(3)
Intangible asset impairments					0			0				86	0
The Hertz Corporation \| Purchase accounting
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					(15)			(16)				(47)	(49)
The Hertz Corporation \| Other
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					(12)			(11)				(33)	(36)
The Hertz Corporation \| Loss on extinguishment of debt
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					0			(20)				(8)	(40)
The Hertz Corporation \| Loss on extinguishment of debt \| 4.25% Senior Notes due April 2018
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:												6
The Hertz Corporation \| Loss on extinguishment of debt \| Senior Revolving Credit Facility
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Write off of deferred financing costs									$ 18			2
The Hertz Corporation \| Loss on extinguishment of debt \| 7.5% Senior Notes
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Write off of deferred financing costs								5
Repayments of debt and early redemption premiums								13
The Hertz Corporation \| Restructuring and restructuring related charges
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					(2)			(11)				(14)	(41)
The Hertz Corporation \| Sale of CAR, Inc. Common Stock
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					0			0				3	75
The Hertz Corporation \| Impairment charges and asset write-downs
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					0			(28)				(116)	(31)
The Hertz Corporation \| Finance and Information Technology Transformation Costs
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					(15)			(14)				(55)	(40)
The Hertz Corporation \| Other
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjustments:					(1)			(4)				(20)	0
Liability for unpaid claims and claims adjustment expense, claims paid					13	$ 5
Settlement gain										$ 9
The Hertz Corporation \| Operating Segments
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):					325			334				264	544
The Hertz Corporation \| Operating Segments \| U.S. Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):					158			173				5	312
The Hertz Corporation \| Operating Segments \| International Rental Car
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):					147			142				200	179
The Hertz Corporation \| Operating Segments \| All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):					20			19				59	53
The Hertz Corporation \| Corporate, Non-Segment
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):					(136)			(122)				(367)	(385)
The Hertz Corporation \| Segment Reconciling Items
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Adjusted pre-tax income (loss):					1			$ 0				$ 4	$ 0
Product Concentration Risk \| Cost of Goods, Segment \| All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Concentration risk, percentage (less than)												2.00%
Product Concentration Risk \| Revenues \| All Other Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Concentration risk, percentage (less than)												2.00%
Fair Value, Measurements, Nonrecurring
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Intangible asset impairments					0							$ 86
Equity method investment, other than temporary impairment					4							$ 26
Fair Value, Measurements, Nonrecurring \| Brazil Operations
Reconciliation of adjusted pre-tax income to income (loss) before income taxes
Loss on sale		$ (6)			$ (6)		$ (4)				$ 4

Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz (Narrative) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Condensed Financial Statements, Captions [Line Items]
Prepaid expenses and other assets	$ 519		$ 578
Adjustment to net cash provided by (used in) operating activities	1,977	$ 2,051
Adjustment to cash flows from investing activities	(3,316)	(2,139)
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Prepaid expenses and other assets	229		199
Adjustment to net cash provided by (used in) operating activities	3,255	4,838
Adjustment to cash flows from investing activities	(3,086)	(2,876)
Parent (The Hertz Corporation)
Condensed Financial Statements, Captions [Line Items]
Prepaid expenses and other assets	5,541		4,821
Adjustment to net cash provided by (used in) operating activities	(80)	(2,129)
Adjustment to cash flows from investing activities	$ (99)	$ 1,082
Restatement Adjustment \| Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Prepaid expenses and other assets			$ 915

Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz (Balance Sheet) (Details) - USD ($) $ in Millions	Sep. 30, 2017	Jun. 30, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
ASSETS
Cash and cash equivalents	$ 748		$ 816	$ 1,430		$ 474
Restricted cash and cash equivalents:	1,029		278
Receivables, net of allowance	1,524		1,283
Due from related parties		$ 425			$ 425
Prepaid expenses and other assets	519		578
Revenue earning vehicles, net	12,376		10,818
Property and equipment, net	831		858
Other intangible assets, net	3,234		3,332
Goodwill	1,083		1,081
Assets held for sale	0		111
Total assets	21,344		19,155
LIABILITIES AND EQUITY
Total accounts payable	954		821
Accrued liabilities	1,022		980
Accrued taxes, net	177		165
Debt	15,919		13,541
Public liability and property damage	448		407
Deferred income taxes, net	1,958		2,149
Liabilities of discontinued operations	0		17
Total liabilities	20,478		18,080
Equity:
Stockholder's equity	866		1,075
Total liabilities and equity	21,344		19,155
Eliminations
ASSETS
Cash and cash equivalents	0		0	0		0
Restricted cash and cash equivalents:	0		0
Receivables, net of allowance	0		0
Due from related parties	(16,971)		(17,241)
Prepaid expenses and other assets	(5,327)		(4,525)
Revenue earning vehicles, net	0		0
Property and equipment, net	0		0
Investment in subsidiaries, net	(6,994)		(6,712)
Other intangible assets, net	0		0
Goodwill	0		0
Assets held for sale			0
Total assets	(29,292)		(28,478)
LIABILITIES AND EQUITY
Due to affiliates	(16,971)		(17,241)
Total accounts payable	0		0
Accrued liabilities	0		0
Accrued taxes, net	(3,288)		(2,812)
Debt	0		0
Public liability and property damage	0		0
Deferred income taxes, net	(2,039)		(1,713)
Liabilities of discontinued operations			0
Total liabilities	(22,298)		(21,766)
Equity:
Stockholder's equity	(6,994)		(6,712)
Total liabilities and equity	(29,292)		(28,478)
Parent (The Hertz Corporation)
ASSETS
Cash and cash equivalents	456		458	830		179
Restricted cash and cash equivalents:	877		53
Receivables, net of allowance	388		752
Due from related parties	3,337		3,668
Prepaid expenses and other assets	5,541		4,821
Revenue earning vehicles, net	286		361
Property and equipment, net	625		656
Investment in subsidiaries, net	6,262		6,114
Other intangible assets, net	126		89
Goodwill	102		102
Assets held for sale			0
Total assets	18,000		17,074
LIABILITIES AND EQUITY
Due to affiliates	10,692		10,833
Total accounts payable	409		279
Accrued liabilities	570		557
Accrued taxes, net	91		78
Debt	5,200		4,086
Public liability and property damage	173		166
Deferred income taxes, net	0		0
Liabilities of discontinued operations			0
Total liabilities	17,135		15,999
Equity:
Stockholder's equity	865		1,075
Total liabilities and equity	18,000		17,074
Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	13		12	13		17
Restricted cash and cash equivalents:	4		5
Receivables, net of allowance	159		167
Due from related parties	4,447		3,823
Prepaid expenses and other assets	76		83
Revenue earning vehicles, net	8		7
Property and equipment, net	63		70
Investment in subsidiaries, net	732		598
Other intangible assets, net	3,097		3,223
Goodwill	943		943
Assets held for sale			0
Total assets	9,542		8,931
LIABILITIES AND EQUITY
Due to affiliates	2,088		1,900
Total accounts payable	123		90
Accrued liabilities	78		103
Accrued taxes, net	22		18
Debt	0		0
Public liability and property damage	45		43
Deferred income taxes, net	2,120		2,065
Liabilities of discontinued operations			0
Total liabilities	4,476		4,219
Equity:
Stockholder's equity	5,066		4,712
Total liabilities and equity	9,542		8,931
Non-Guarantor Subsidiaries
ASSETS
Cash and cash equivalents	279		346	587		278
Restricted cash and cash equivalents:	148		220
Receivables, net of allowance	977		364
Due from related parties	9,187		9,750
Prepaid expenses and other assets	229		199
Revenue earning vehicles, net	12,082		10,450
Property and equipment, net	143		132
Investment in subsidiaries, net	0		0
Other intangible assets, net	11		20
Goodwill	38		36
Assets held for sale			111
Total assets	23,094		21,628
LIABILITIES AND EQUITY
Due to affiliates	4,191		4,508
Total accounts payable	422		452
Accrued liabilities	374		320
Accrued taxes, net	3,352		2,881
Debt	10,719		9,455
Public liability and property damage	230		198
Deferred income taxes, net	1,878		1,797
Liabilities of discontinued operations			17
Total liabilities	21,166		19,628
Equity:
Stockholder's equity	1,928		2,000
Total liabilities and equity	23,094		21,628
The Hertz Corporation
ASSETS
Cash and cash equivalents	748		816	$ 1,430		$ 474
Restricted cash and cash equivalents:	1,029		278
Receivables, net of allowance	1,524		1,283
Due from related parties	0		0
Prepaid expenses and other assets	519		578
Revenue earning vehicles, net	12,376		10,818
Property and equipment, net	831		858
Investment in subsidiaries, net	0		0
Other intangible assets, net	3,234		3,332
Goodwill	1,083		1,081
Assets held for sale	0		111
Total assets	21,344		19,155
LIABILITIES AND EQUITY
Due to affiliates	0		0
Total accounts payable	954		821
Accrued liabilities	1,022		980
Accrued taxes, net	177		165
Debt	15,919		13,541
Public liability and property damage	448		407
Deferred income taxes, net	1,959		2,149
Liabilities of discontinued operations	0		17
Total liabilities	20,479		18,080
Equity:
Stockholder's equity	865		1,075
Total liabilities and equity	$ 21,344		$ 19,155

Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz (Statement of Operations and Comprehensive Income) (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Condensed Financial Statements, Captions [Line Items]
Total revenues	$ 2,572	$ 2,542	$ 6,713	$ 6,794
Expenses:
Direct vehicle and operating	1,348	1,353	3,735	3,778
Depreciation of revenue earning vehicles and lease charges, net	700	695	2,144	1,940
Selling, general and administrative	217	227	661	685
Total interest expense, net	176	156	465	480
Intangible asset impairments	0	0	86	0
Other (income) expense, net	(12)	3	19	(86)
Total expenses	2,429	2,434	7,110	6,797
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	143	108	(397)	(3)
(Provision) benefit for taxes on income (loss) of continuing operations	(50)	(64)	108	(33)
Net income (loss) from continuing operations	93	44	(289)	(36)
Net income (loss) from discontinued operations	0	(2)	0	(15)
Net income (loss)	93	42	(289)	(51)
Other comprehensive income (loss), net of tax	15	18	21	27
Comprehensive income (loss)	108	60	(268)	(24)
Eliminations
Condensed Financial Statements, Captions [Line Items]
Total revenues	(979)	(1,028)	(2,967)	(2,691)
Expenses:
Direct vehicle and operating	0	0	0	(1)
Depreciation of revenue earning vehicles and lease charges, net	(893)	(1,028)	(2,760)	(2,688)
Selling, general and administrative	0	0	0	(2)
Total interest expense, net	0	0	0	0
Intangible asset impairments	0		0
Other (income) expense, net	0	0	0	0
Total expenses	(893)	(1,028)	(2,760)	(2,691)
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(86)	0	(207)	0
(Provision) benefit for taxes on income (loss) of continuing operations	0	0	0	0
Equity in earnings (losses) of subsidiaries, net of tax	(500)	(382)	(1,103)	(1,127)
Net income (loss) from continuing operations	(586)	(382)	(1,310)	(1,127)
Net income (loss) from discontinued operations	0	0	0	0
Net income (loss)	(586)	(382)	(1,310)	(1,127)
Other comprehensive income (loss), net of tax	(18)	(16)	(25)	(40)
Comprehensive income (loss)	(604)	(398)	(1,335)	(1,167)
Parent (The Hertz Corporation)
Condensed Financial Statements, Captions [Line Items]
Total revenues	1,296	1,273	3,516	3,532
Expenses:
Direct vehicle and operating	772	782	2,201	2,200
Depreciation of revenue earning vehicles and lease charges, net	826	871	2,587	2,252
Selling, general and administrative	151	153	457	456
Total interest expense, net	108	103	290	310
Intangible asset impairments	0		0
Other (income) expense, net	(4)	3	30	4
Total expenses	1,853	1,912	5,565	5,222
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	(557)	(639)	(2,049)	(1,690)
(Provision) benefit for taxes on income (loss) of continuing operations	188	416	760	831
Equity in earnings (losses) of subsidiaries, net of tax	463	265	1,003	810
Net income (loss) from continuing operations	94	42	(286)	(49)
Net income (loss) from discontinued operations	0	0	0	0
Net income (loss)	94	42	(286)	(49)
Other comprehensive income (loss), net of tax	15	18	21	27
Comprehensive income (loss)	109	60	(265)	(22)
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenues	394	425	1,055	1,150
Expenses:
Direct vehicle and operating	188	206	538	587
Depreciation of revenue earning vehicles and lease charges, net	98	192	313	540
Selling, general and administrative	9	12	28	36
Total interest expense, net	(26)	(17)	(73)	(39)
Intangible asset impairments	0		86
Other (income) expense, net	0	0	0	(10)
Total expenses	269	393	892	1,114
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	125	32	163	36
(Provision) benefit for taxes on income (loss) of continuing operations	(43)	(26)	(57)	(28)
Equity in earnings (losses) of subsidiaries, net of tax	37	117	100	317
Net income (loss) from continuing operations	119	123	206	325
Net income (loss) from discontinued operations	0	(2)	0	(3)
Net income (loss)	119	121	206	322
Other comprehensive income (loss), net of tax	4	0	6	(5)
Comprehensive income (loss)	123	121	212	317
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Total revenues	1,861	1,872	5,109	4,803
Expenses:
Direct vehicle and operating	388	365	996	992
Depreciation of revenue earning vehicles and lease charges, net	669	660	2,004	1,836
Selling, general and administrative	57	62	176	195
Total interest expense, net	93	70	244	209
Intangible asset impairments	0		0
Other (income) expense, net	(8)	0	(11)	(80)
Total expenses	1,199	1,157	3,409	3,152
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	662	715	1,700	1,651
(Provision) benefit for taxes on income (loss) of continuing operations	(195)	(454)	(596)	(836)
Equity in earnings (losses) of subsidiaries, net of tax	0	0	0	0
Net income (loss) from continuing operations	467	261	1,104	815
Net income (loss) from discontinued operations	0	0	0	(10)
Net income (loss)	467	261	1,104	805
Other comprehensive income (loss), net of tax	14	16	19	45
Comprehensive income (loss)	481	277	1,123	850
The Hertz Corporation
Condensed Financial Statements, Captions [Line Items]
Total revenues	2,572	2,542	6,713	6,794
Expenses:
Direct vehicle and operating	1,348	1,353	3,735	3,778
Depreciation of revenue earning vehicles and lease charges, net	700	695	2,144	1,940
Selling, general and administrative	217	227	661	685
Total interest expense, net	175	156	461	480
Intangible asset impairments	0	0	86	0
Other (income) expense, net	(12)	3	19	(86)
Total expenses	2,428	2,434	7,106	6,797
Income (loss) from continuing operations before income taxes and equity in earnings (losses) of subsidiaries	144	108	(393)	(3)
(Provision) benefit for taxes on income (loss) of continuing operations	(50)	(64)	107	(33)
Equity in earnings (losses) of subsidiaries, net of tax	0	0	0	0
Net income (loss) from continuing operations	94	44	(286)	(36)
Net income (loss) from discontinued operations	0	(2)	0	(13)
Net income (loss)	94	42	(286)	(49)
Other comprehensive income (loss), net of tax	15	18	21	27
Comprehensive income (loss)	$ 109	$ 60	$ (265)	$ (22)

Guarantor and Non-Guarantor Condensed Consolidating Financial Information - Hertz (Statement of Cash Flows) (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	$ 1,977	$ 2,051
Cash flows from investing activities:
Revenue earning vehicles expenditures	(8,683)	(8,710)
Proceeds from disposal of revenue earning vehicles	5,285	6,420
Capital asset expenditures, non-vehicle	(124)	(99)
Proceeds from disposal of property and other equipment	18	53
Proceeds from sale of Brazil Operations, net of retained cash	94	0
Sales of shares in equity investment	9	188
Other	(4)	0
Net cash provided by (used in) investing activities	(3,316)	(2,139)
Cash flows from financing activities:
Payment of financing costs	(43)	(73)
Early redemption premium payment	(5)	(13)
Transfers from discontinued entities	0	2,122
Other	(1)	10
Net cash provided by (used in) financing activities	1,252	1,034
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	19	10
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	(68)	956
Cash and cash equivalents at beginning of period	816	474
Cash and cash equivalents at end of period	748	1,430
Cash flows provided by (used in) operating activities	0	205
Cash flows provided by (used in) investing activities	0	(77)
Cash flows provided by (used in) financing activities	0	(97)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	0	31
Vehicles
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	89	11
Cash flows from financing activities:
Proceeds from issuance of debt	6,907	7,665
Repayments of debt	(5,887)	(7,320)
Non-vehicle
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle		(2)
Cash flows from financing activities:
Proceeds from issuance of debt	2,100	2,427
Repayments of debt	(986)	(3,684)
Eliminations
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(1,211)	(719)
Cash flows from investing activities:
Revenue earning vehicles expenditures	0	0
Proceeds from disposal of revenue earning vehicles	0	0
Capital asset expenditures, non-vehicle	0	0
Proceeds from disposal of property and other equipment	0	0
Proceeds from sale of Brazil Operations, net of retained cash	0
Sales of shares in equity investment	0	0
Other	0
Capital contributions to subsidiaries	2,224	1,260
Return of capital from subsidiaries	(2,263)	(2,516)
Loan to Parent/Guarantor from Non-Guarantor	(80)	973
Net cash provided by (used in) investing activities	(119)	(283)
Cash flows from financing activities:
Payment of financing costs	0	0
Early redemption premium payment	0	0
Transfers from discontinued entities		0
Advances to Hertz Global/Old Hertz Holdings	0	0
Other	0	0
Capital contributions received from parent	(2,224)	(1,260)
Payment of dividends and return of capital	3,474	3,235
Loan to Parent/Guarantor from Non-Guarantor	80	(973)
Net cash provided by (used in) financing activities	1,330	1,002
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	0	0
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Cash flows provided by (used in) operating activities		0
Cash flows provided by (used in) investing activities		0
Cash flows provided by (used in) financing activities		0
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations		0
Eliminations \| Vehicles
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	0	0
Cash flows from financing activities:
Proceeds from issuance of debt	0	0
Repayments of debt	0	0
Eliminations \| Non-vehicle
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	0	0
Cash flows from financing activities:
Proceeds from issuance of debt	0	0
Repayments of debt	0	0
Parent (The Hertz Corporation)
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	(80)	(2,129)
Cash flows from investing activities:
Revenue earning vehicles expenditures	(195)	(285)
Proceeds from disposal of revenue earning vehicles	123	219
Capital asset expenditures, non-vehicle	(82)	(56)
Proceeds from disposal of property and other equipment	7	29
Proceeds from sale of Brazil Operations, net of retained cash	0
Sales of shares in equity investment	0	(45)
Other	0
Capital contributions to subsidiaries	(2,224)	(1,260)
Return of capital from subsidiaries	2,263	2,516
Loan to Parent/Guarantor from Non-Guarantor	0	0
Net cash provided by (used in) investing activities	(99)	1,082
Cash flows from financing activities:
Payment of financing costs	(18)	(45)
Early redemption premium payment	(5)	(13)
Transfers from discontinued entities		2,122
Advances to Hertz Global/Old Hertz Holdings	(4)	(100)
Other	(1)	10
Capital contributions received from parent	0	0
Payment of dividends and return of capital	0	(1)
Loan to Parent/Guarantor from Non-Guarantor	(80)	973
Net cash provided by (used in) financing activities	177	1,698
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	0	0
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	(2)	651
Cash and cash equivalents at beginning of period	458	179
Cash and cash equivalents at end of period	456	830
Cash flows provided by (used in) operating activities		0
Cash flows provided by (used in) investing activities		0
Cash flows provided by (used in) financing activities		0
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations		0
Parent (The Hertz Corporation) \| Vehicles
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	9	(36)
Cash flows from financing activities:
Proceeds from issuance of debt	1,133	442
Repayments of debt	(1,129)	(433)
Parent (The Hertz Corporation) \| Non-vehicle
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	(833)	0
Cash flows from financing activities:
Proceeds from issuance of debt	2,100	2,427
Repayments of debt	(986)	(3,684)
Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	17	61
Cash flows from investing activities:
Revenue earning vehicles expenditures	(5)	(51)
Proceeds from disposal of revenue earning vehicles	0	0
Capital asset expenditures, non-vehicle	(8)	(13)
Proceeds from disposal of property and other equipment	0	2
Proceeds from sale of Brazil Operations, net of retained cash	0
Sales of shares in equity investment	0	0
Other	0
Capital contributions to subsidiaries	0	0
Return of capital from subsidiaries	0	0
Loan to Parent/Guarantor from Non-Guarantor	0	0
Net cash provided by (used in) investing activities	(12)	(62)
Cash flows from financing activities:
Payment of financing costs	(4)	(3)
Early redemption premium payment	0	0
Transfers from discontinued entities		0
Advances to Hertz Global/Old Hertz Holdings	0	0
Other	0	0
Capital contributions received from parent	0	0
Payment of dividends and return of capital	0	0
Loan to Parent/Guarantor from Non-Guarantor	0	0
Net cash provided by (used in) financing activities	(4)	(3)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	0	0
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	1	(4)
Cash and cash equivalents at beginning of period	12	17
Cash and cash equivalents at end of period	13	13
Cash flows provided by (used in) operating activities		59
Cash flows provided by (used in) investing activities		(75)
Cash flows provided by (used in) financing activities		44
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations		28
Guarantor Subsidiaries \| Vehicles
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	1	0
Cash flows from financing activities:
Proceeds from issuance of debt	0	0
Repayments of debt	0	0
Guarantor Subsidiaries \| Non-vehicle
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	0	0
Cash flows from financing activities:
Proceeds from issuance of debt	0	0
Repayments of debt	0	0
Non-Guarantor Subsidiaries
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	3,255	4,838
Cash flows from investing activities:
Revenue earning vehicles expenditures	(8,483)	(8,374)
Proceeds from disposal of revenue earning vehicles	5,162	6,201
Capital asset expenditures, non-vehicle	(34)	(30)
Proceeds from disposal of property and other equipment	11	22
Proceeds from sale of Brazil Operations, net of retained cash	94
Sales of shares in equity investment	9	233
Other	(4)
Capital contributions to subsidiaries	0	0
Return of capital from subsidiaries	0	0
Loan to Parent/Guarantor from Non-Guarantor	80	(973)
Net cash provided by (used in) investing activities	(3,086)	(2,876)
Cash flows from financing activities:
Payment of financing costs	(21)	(25)
Early redemption premium payment	0	0
Transfers from discontinued entities		0
Advances to Hertz Global/Old Hertz Holdings	0	0
Other	0	0
Capital contributions received from parent	2,224	1,260
Payment of dividends and return of capital	(3,474)	(3,234)
Loan to Parent/Guarantor from Non-Guarantor	0	0
Net cash provided by (used in) financing activities	(255)	(1,663)
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	19	10
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	(67)	309
Cash and cash equivalents at beginning of period	346	278
Cash and cash equivalents at end of period	279	587
Cash flows provided by (used in) operating activities		148
Cash flows provided by (used in) investing activities		(2)
Cash flows provided by (used in) financing activities		(138)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations		8
Non-Guarantor Subsidiaries \| Vehicles
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	79	47
Cash flows from financing activities:
Proceeds from issuance of debt	5,774	7,223
Repayments of debt	(4,758)	(6,887)
Non-Guarantor Subsidiaries \| Non-vehicle
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	0	(2)
Cash flows from financing activities:
Proceeds from issuance of debt	0	0
Repayments of debt	0	0
The Hertz Corporation
Condensed Financial Statements, Captions [Line Items]
Net cash provided by (used in) operating activities	1,981	2,051
Cash flows from investing activities:
Revenue earning vehicles expenditures	(8,683)	(8,710)
Proceeds from disposal of revenue earning vehicles	5,285	6,420
Capital asset expenditures, non-vehicle	(124)	(99)
Proceeds from disposal of property and other equipment	18	53
Proceeds from sale of Brazil Operations, net of retained cash	94	0
Sales of shares in equity investment	9	188
Other	(4)	0
Capital contributions to subsidiaries	0	0
Return of capital from subsidiaries	0	0
Loan to Parent/Guarantor from Non-Guarantor	0	0
Net cash provided by (used in) investing activities	(3,316)	(2,139)
Cash flows from financing activities:
Payment of financing costs	(43)	(73)
Early redemption premium payment	(5)	(13)
Transfers from discontinued entities	0	2,122
Advances to Hertz Global/Old Hertz Holdings	(4)	(100)
Other	(1)	10
Capital contributions received from parent	0	0
Payment of dividends and return of capital	0	0
Loan to Parent/Guarantor from Non-Guarantor	0	0
Net cash provided by (used in) financing activities	1,248	1,034
Effect of foreign currency exchange rate changes on cash and cash equivalents from continuing operations	19	10
Net increase (decrease) in cash and cash equivalents during the period from continuing operations	(68)	956
Cash and cash equivalents at beginning of period	816	474
Cash and cash equivalents at end of period	748	1,430
Cash flows provided by (used in) operating activities	0	207
Cash flows provided by (used in) investing activities	0	(77)
Cash flows provided by (used in) financing activities	0	(94)
Net increase (decrease) in cash and cash equivalents during the period from discontinued operations	0	36
The Hertz Corporation \| Vehicles
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	89	11
Cash flows from financing activities:
Proceeds from issuance of debt	6,907	7,665
Repayments of debt	(5,887)	(7,320)
The Hertz Corporation \| Non-vehicle
Cash flows from investing activities:
Net change in restricted cash and cash equivalents, vehicle and non vehicle	(833)	(2)
Cash flows from financing activities:
Proceeds from issuance of debt	2,100	2,427
Repayments of debt	$ (986)	$ (3,684)

Subsequent Events (Details) € in Millions, £ in Millions, $ in Millions, $ in Millions, $ in Millions, $ in Millions		1 Months Ended	9 Months Ended
	Nov. 02, 2017 USD ($)	Oct. 31, 2017 USD ($)	Sep. 30, 2017 USD ($)	Sep. 30, 2016 USD ($)	Nov. 08, 2017 USD ($)	Nov. 02, 2017 EUR (€)	Nov. 02, 2017 CAD ($)	Nov. 02, 2017 GBP (£)	Nov. 02, 2017 AUD ($)	Nov. 02, 2017 NZD ($)	Dec. 31, 2016 USD ($)
Senior RCF
Subsequent Event [Line Items]
Outstanding principal			$ 120								$ 0
Senior RCF \| Subsequent Event
Subsequent Event [Line Items]
Repayments of lines of credit		$ 120
Covenant compliance, line of credit facility borrowing threshold	$ 2,400
Line of credit facility, maximum borrowing capacity	$ 1,167
Annual principal payments, percent of original principal	2.00%					2.00%	2.00%	2.00%	2.00%	2.00%
Decrease to borrowing capacity of revolving credit facility	$ 383
6.75% Senior Notes due April 2019
Subsequent Event [Line Items]
Outstanding principal			450								$ 450
Senior Credit Facility, Maturing June 30, 2021 \| Subsequent Event
Subsequent Event [Line Items]
Current borrowing capacity					$ 400
HVF II Series 2013-A Notes And HVF II Series 2013-B Notes, Due March 2020 \| Subsequent Event
Subsequent Event [Line Items]
Outstanding principal	3,415
European Revolving Credit Facility, Due March 2020 \| Subsequent Event
Subsequent Event [Line Items]
Outstanding principal \| €						€ 153
European Revolving Credit Facility, Due January 2019 \| Subsequent Event
Subsequent Event [Line Items]
Outstanding principal \| €						82
HFLF Series 2013-2 Notes, Due March 2020 \| Subsequent Event
Subsequent Event [Line Items]
Outstanding principal	$ 500
Canadian Securitization, Due March 2020 \| Subsequent Event
Subsequent Event [Line Items]
Outstanding principal							$ 350
UK Leveraged Financing, Due March 2020 \| Subsequent Event
Subsequent Event [Line Items]
Outstanding principal \| £								£ 213
UK Leveraged Financing, Due January 2019 \| Subsequent Event
Subsequent Event [Line Items]
Outstanding principal \| £								£ 37
European Securitization, Due March 2020 \| Subsequent Event
Subsequent Event [Line Items]
Outstanding principal \| €						345
European Securitization, Due January 2019 \| Subsequent Event
Subsequent Event [Line Items]
Outstanding principal \| €						€ 115
Australian Securitization, Due March 2020 \| Subsequent Event
Subsequent Event [Line Items]
Outstanding principal									$ 250
New Zealand Revolving Credit Facility, Due March 2020 \| Subsequent Event
Subsequent Event [Line Items]
Outstanding principal										$ 60
Vehicles
Subsequent Event [Line Items]
Increase (decrease) in restricted cash			(89)	$ (11)
Vehicles \| 6.75% Senior Notes due April 2019 \| Subsequent Event
Subsequent Event [Line Items]
Outstanding principal					$ 450
Non-vehicle
Subsequent Event [Line Items]
Increase (decrease) in restricted cash				2
The Hertz Corporation \| Vehicles
Subsequent Event [Line Items]
Increase (decrease) in restricted cash			(89)	(11)
The Hertz Corporation \| Non-vehicle
Subsequent Event [Line Items]
Increase (decrease) in restricted cash			$ 833	$ 2