0001657853-21-000085 | 8-K | XBRL Viewer | Hertz Global Holdings INC

$ 1,096

$ 865

Total cash, cash equivalents, restricted cash and restricted cash equivalents

411

495

1,507

1,360

777

1,840

373

689

7,540

17,085

(1,478)

(3,296)

6,062

13,789

666

757

1,675

1,871

2,992

3,238

1,045

1,083

1,811

^[1]

16,908

24,627

418

943

759

1,032

121

150

6,267

17,089

1,636

1,848

488

553

730

1,124

10,419

22,739

4,965

1,431

^[1]

16,815

22,739

Stockholder's equity:

Preferred Stock

3,047

3,024

(2,681)

(967)

Stockholder's equity (deficit) attributable to Hertz

(212)

(189)

Treasury stock

100

1,769

119

Total liabilities and stockholder's equity (deficit)

1,888

16,908

24,627

ASSETS

466

164

791

289

6,024

13,368

ASSETS

361

613

1,049

389

654

243

3,721

ASSETS

1,096

865

Total cash, cash equivalents, restricted cash and restricted cash equivalents

383

495

1,479

1,360

777

1,840

372

689

7,540

17,085

(1,478)

(3,296)

6,062

13,789

666

757

1,675

2,992

3,238

1,045

1,083

1,811

^[2]

16,880

24,627

418

943

759

1,032

121

150

6,267

17,089

1,636

488

553

735

1,128

10,424

22,743

5,030

1,431

^[2]

16,885

22,743

Stockholder's equity:

3,953

3,955

Due from affiliate

(64)

(3,783)

(1,937)

Stockholder's equity (deficit) attributable to Hertz

(212)

(189)

(42)

1,765

119

Total liabilities and stockholder's equity (deficit)

(5)

1,884

16,880

24,627

The Hertz Corporation | Vehicle

ASSETS

466

164

791

289

6,024

13,368

ASSETS

333

613

1,049

389

654

Preferred stock, par value (in dollars per share)

$ 243

$ 3,721

[1]

Hertz Global Holdings, Inc.'s consolidated total assets as of December 31, 2020 and December 31, 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. Hertz Global Holdings, Inc.'s consolidated total liabilities as of December 31, 2020 and December 31, 2019 include total liabilities of VIEs of $475 million and $1.1 billion, respectively, for which the creditors of the VIEs have no recourse to Hertz Global Holdings, Inc. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information.

[2]

The Hertz Corporation's consolidated total assets as of December 31, 2020 and December 31, 2019 include total assets of VIEs of $511 million and $1.3 billion, respectively, which can only be used to settle obligations of the VIEs. The Hertz Corporation's consolidated total liabilities as of December 31, 2020 and December 31, 2019 include total liabilities of VIEs of $475 million and $1.1 billion, respectively, for which the creditors of the VIEs have no recourse to The Hertz Corporation. See "Special Purpose Entities" in Note 6, "Debt," and "767 Auto Leasing LLC" in Note 16, "Related Party Transactions," for further information.

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)
$ in Millions

Mar. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

$ 0.01

Preferred stock, shares issued

Preferred stock, shares outstanding

Common stock, par value (in dollars per share)

$ 0.01

Common stock, shares issued

158,235,410

144,153,444

Common stock, shares outstanding

156,206,478

142,124,512

Treasury stock, shares

2,028,932

Assets

$ 16,610

$ 16,908

^[1]

$ 24,627

^[1]

Liabilities

16,320

16,815

^[1]

22,739

^[1]

Receivables, allowance for doubtful accounts (in dollars)

$ 56

$ 46

$ 35

Common stock, par value (in dollars per share)

$ 0.01

Common stock, shares authorized

3,000

Common stock, shares issued

100

Common stock, shares outstanding

100

Assets

$ 16,582

$ 16,880

^[2]

$ 24,627

^[2]

$ 24,627

Liabilities

16,390

16,885

^[2]

22,743

^[2]

Receivables, allowance for doubtful accounts (in dollars)

The Hertz Corporation | Variable Interest Entity, Primary Beneficiary

Assets

513

511

1,300

Liabilities

$ 393

$ 475

$ 1,100

[1]

[2]

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Worldwide vehicle rental	$ 4,628	$ 9,107	$ 8,756
All other operations	630	672	748
Total revenues	5,258	9,779	9,504
Expenses:
Direct vehicle and operating	3,627	5,486	5,355
Depreciation of revenue earning vehicles and lease charges	2,032	2,565	2,690
Selling, general and administrative	664	969	1,017
Interest expense, net:
Total interest expense, net	608	805	739
Intangible and other asset impairments	213	0	0
Other (income) expense, net	(9)	(59)	(40)
Reorganization items, net	175	0	0
Total expenses	7,310	9,766	9,761
Income (loss) before income taxes	(2,052)	13	(257)
Income tax (provision) benefit	329	(63)	30
Net income (loss)	(1,723)	(50)	(227)
Net (income) loss attributable to noncontrolling interests	9	(8)	2
Net income (loss) attributable to Hertz Global	$ (1,714)	$ (58)	$ (225)
Weighted-average shares outstanding:
Basic (in shares)	150	117	96
Diluted (in shares)	150	117	96
Earnings (loss) per share:
Basic earnings (loss) per share (in dollars per share)	$ (11.44)	$ (0.49)	$ (2.35)
Diluted earnings (loss) per share (in dollars per share)	$ (11.44)	$ (0.49)	$ (2.35)
The Hertz Corporation
Revenues:
Worldwide vehicle rental	$ 4,628	$ 9,107	$ 8,756
All other operations	630	672	748
Total revenues	5,258	9,779	9,504
Expenses:
Direct vehicle and operating	3,627	5,486	5,355
Depreciation of revenue earning vehicles and lease charges	2,032	2,565	2,690
Selling, general and administrative	664	969	1,017
Interest expense, net:
Total interest expense, net	606	798	732
Intangible and other asset impairments	213	0	0
Write-off of intercompany loan	133	0	0
Other (income) expense, net	(9)	(59)	(40)
Reorganization items, net	175	0	0
Total expenses	7,441	9,759	9,754
Income (loss) before income taxes	(2,183)	20	(250)
Income tax (provision) benefit	328	(65)	28
Net income (loss)	(1,855)	(45)	(222)
Net (income) loss attributable to noncontrolling interests	9		2
Net income (loss) attributable to Hertz Global	(1,846)	(53)	(220)
Vehicle
Interest expense, net:
Total interest expense, net	(455)	(494)	(448)
Vehicle \| The Hertz Corporation
Interest expense, net:
Total interest expense, net	(455)	(494)	(448)
Non-vehicle
Interest expense, net:
Total interest expense, net	(153)	(311)	(291)
Non-vehicle \| The Hertz Corporation
Interest expense, net:
Total interest expense, net	$ (151)	$ (304)	$ (284)

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - Non-vehicle - USD ($) $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Contractual Interest	$ 53
The Hertz Corporation
Contractual Interest	$ 53	$ 129

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income (loss)	$ (1,723)	$ (50)	$ (227)
Other comprehensive income (loss):
Foreign currency translation adjustments	(19)	6	(34)
Reclassification of foreign currency items to other (income) expense, net	0	0	(1)
Net gain (loss) on pension and postretirement benefit plans	(11)	(11)	(44)
Reclassification from other comprehensive income (loss) to other (income) expense for amortization of actuarial net losses	13	11	5
Total other comprehensive income (loss) before income taxes	(17)	6	(74)
Income tax (provision) benefit related to pension and postretirement benefit plans	(4)	(1)	12
Income tax (provision) benefit related to reclassified amounts of net periodic costs on pension and postretirement benefit plans	(2)	(2)	(1)
Total other comprehensive income (loss)	(23)	3	(63)
Total comprehensive income (loss)	(1,746)	(47)	(290)
Comprehensive (income) loss attributable to noncontrolling interests	9	(8)	2
Comprehensive income (loss) attributable to Hertz Global	(1,737)	(55)	(288)
The Hertz Corporation
Net income (loss)	(1,855)	(45)	(222)
Other comprehensive income (loss):
Foreign currency translation adjustments	(19)	6	(34)
Reclassification of foreign currency items to other (income) expense, net	0	0	(1)
Net gain (loss) on pension and postretirement benefit plans	(11)	(11)	(44)
Reclassification from other comprehensive income (loss) to other (income) expense for amortization of actuarial net losses	13	11	5
Total other comprehensive income (loss) before income taxes	(17)	6	(74)
Income tax (provision) benefit related to pension and postretirement benefit plans	(4)	(1)	12
Income tax (provision) benefit related to reclassified amounts of net periodic costs on pension and postretirement benefit plans	(2)	(2)	(1)
Total other comprehensive income (loss)	(23)	3	(63)
Total comprehensive income (loss)	(1,878)	(42)	(285)
Comprehensive (income) loss attributable to noncontrolling interests	9	(8)	2
Comprehensive income (loss) attributable to Hertz Global	$ (1,869)	$ (50)	$ (283)

CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY - USD ($)
$ in Millions

Total

Change in accounting principle

Cumulative Effect, Period of Adoption, Adjusted Balance

The Hertz Corporation

Change in accounting principle

The Hertz Corporation

Cumulative Effect, Period of Adoption, Adjusted Balance

Stockholders' Equity Attributable to Hertz Global

Change in accounting principle

Stockholders' Equity Attributable to Hertz Global

Cumulative Effect, Period of Adoption, Adjusted Balance

Stockholders' Equity Attributable to Hertz Global

The Hertz Corporation

Stockholders' Equity Attributable to Hertz Global

The Hertz Corporation

Change in accounting principle

Stockholders' Equity Attributable to Hertz Global

The Hertz Corporation

Cumulative Effect, Period of Adoption, Adjusted Balance

Preferred Stock Shares

Common Stock Shares

Cumulative Effect, Period of Adoption, Adjusted Balance

Common Stock Shares

The Hertz Corporation

Common Stock Shares

The Hertz Corporation

Cumulative Effect, Period of Adoption, Adjusted Balance

Additional Paid-In Capital

Cumulative Effect, Period of Adoption, Adjusted Balance

Additional Paid-In Capital

The Hertz Corporation

Additional Paid-In Capital

The Hertz Corporation

Cumulative Effect, Period of Adoption, Adjusted Balance

Due From Affiliate

The Hertz Corporation

Due From Affiliate

The Hertz Corporation

Cumulative Effect, Period of Adoption, Adjusted Balance

Accumulated Deficit

Change in accounting principle

Accumulated Deficit

Cumulative Effect, Period of Adoption, Adjusted Balance

Accumulated Deficit

The Hertz Corporation

Accumulated Deficit

The Hertz Corporation

Change in accounting principle

Accumulated Deficit

The Hertz Corporation

Cumulative Effect, Period of Adoption, Adjusted Balance

Accumulated Other Comprehensive Income (Loss)

Cumulative Effect, Period of Adoption, Adjusted Balance

Accumulated Other Comprehensive Income (Loss)

The Hertz Corporation

Accumulated Other Comprehensive Income (Loss)

The Hertz Corporation

Cumulative Effect, Period of Adoption, Adjusted Balance

Treasury Stock

Cumulative Effect, Period of Adoption, Adjusted Balance

Non- controlling Interests

The Hertz Corporation

Non- controlling Interests

The Hertz Corporation

Cumulative Effect, Period of Adoption, Adjusted Balance

Beginning Balance (in shares) at Dec. 31, 2017

84,000,000

100

2,000,000

Beginning Balance at Dec. 31, 2017

$ 1,520

$ (189)

$ 1,331

$ 1,520

$ (189)

$ 1,331

$ 1,520

$ (189)

$ 1,331

$ 1,520

$ (189)

$ 1,331

$ 1

$ 0

$ 2,243

$ 3,166

$ (42)

$ (506)

$ (189)

$ (695)

$ (1,486)

$ (189)

$ (1,675)

$ (118)

$ (100)

$ 0

(227)

(222)

(225)

(220)

(225)

(220)

(2)

(10)

(63)

(3)

Reclassification of income tax effects resulting from the Tax Cuts and Jobs Act

(11)

Contributions from noncontrolling interests

Ending Balance (in shares) at Dec. 31, 2018

84,000,000

100

2,000,000

Ending Balance at Dec. 31, 2018

1,120

1,118

1,061

1,059

$ 1

$ 0

2,261

3,187

(52)

(909)

(1,884)

(192)

$ (100)

(50)

(45)

(58)

(53)

(58)

(53)

(12)

(3)

Contributions from noncontrolling interests

Contributions from Hertz Holdings

750

Rights Offering/Stock issuance, net (in shares)

58,000,000

Rights Offering/Stock issuance, net

748

Ending Balance (in shares) at Dec. 31, 2019

142,000,000

100

2,000,000

Ending Balance at Dec. 31, 2019

1,888

1,884

1,769

1,765

$ 1

$ 0

3,024

3,955

(64)

(967)

(1,937)

(189)

$ (100)

119

(357)

(356)

(355)

(356)

(355)

(1)

(3)

(39)

Contributions from noncontrolling interests

(2)

Ending Balance (in shares) at Mar. 31, 2020

142,000,000

100

2,000,000

Ending Balance at Mar. 31, 2020

1,491

1,487

1,372

1,368

$ 1

$ 0

3,022

3,955

(67)

(1,323)

(2,292)

(228)

$ (100)

119

Beginning Balance (in shares) at Dec. 31, 2019

142,000,000

100

2,000,000

Beginning Balance at Dec. 31, 2019

1,888

1,884

1,769

1,765

$ 1

$ 0

3,024

3,955

(64)

(967)

(1,937)

(189)

$ (100)

119

(1,723)

(1,855)

(1,714)

(1,846)

(1,714)

(1,846)

(9)

(4)

Write-off of intercompany loan

^[1]

(65)

^[2]

133

(23)

(3)

Rights Offering/Stock issuance, net (in shares)

(2)

14,000,000

Rights Offering/Stock issuance, net

$ 1

Distributions to noncontrolling interests, net

(73)

Ending Balance (in shares) at Dec. 31, 2020

156,000,000

100

2,000,000

Ending Balance at Dec. 31, 2020

(5)

(42)

$ 2

$ 0

3,047

3,953

$ 0

(2,681)

(3,783)

(212)

$ (100)

189

190

(1)

Distributions to noncontrolling interests, net

(11)

Ending Balance (in shares) at Mar. 31, 2021

156,000,000

100

2,000,000

Ending Balance at Mar. 31, 2021

$ 290

$ 192

$ 265

$ 167

$ 2

$ 0

$ 3,049

$ 3,955

$ (2,491)

$ (3,593)

$ (195)

$ (100)

$ 25

[1]	As a result of the Chapter 11 Cases, a Pre-petition loan due to an affiliate was classified as liabilities subject to compromise in the accompanying consolidated balance sheet as of December 31, 2020. See Note 19, "Liabilities Subject to Compromise."
[2]	As a result of the filing of the Chapter 11 Cases, the full amount outstanding under a loan due from affiliate was deemed uncollectible and written off. See Note, 14, "Related Party Transactions."

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

12 Months Ended

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

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

$ (1,723)

$ (50)

$ (227)

Depreciation and reserves for revenue earning vehicles

2,259

2,791

2,546

Amortization of deferred financing costs and debt discount (premium)

225

203

218

(2)

Intangible and other asset impairments

(353)

(66)

213

(Gain) loss on marketable securities

(30)

(20)

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

(24)

(39)

(1)

(9)

195

(88)

(136)

(8)

(23)

366

402

(61)

(98)

(52)

(8)

(375)

(428)

Net cash provided by (used in) operating activities

(76)

(18)

953

2,900

2,556

(5,542)

(13,714)

(12,493)

10,098

9,486

8,452

Proceeds from non-vehicle capital assets disposed of or to be disposed of

(98)

(224)

(177)

Purchases of marketable securities

(60)

Net cash provided by (used in) investing activities

(1)

(6)

4,591

(4,425)

(4,197)

Early redemption premium payment

(75)

(53)

(47)

(34)

(19)

Contributions from (distributions to) noncontrolling interests

(75)

Proceeds from issuance of stock, net

Proceeds from Rights Offering, net

748

Net cash provided by (used in) financing activities

(5,372)

1,474

1,561

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

(14)

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

218

(50)

(94)

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

1,360

1,410

1,504

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

1,507

1,360

1,410

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

^[1]

1,578

1,360

1,410

(11)

Supplemental disclosures of non-cash information:

546

575

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

165

169

Sales of revenue earning vehicles included in vehicle receivables

144

667

510

Sales-type capital lease of revenue earning vehicles included in other receivables

Fleet payables included in liabilities subject to compromise

Purchases of non-vehicle capital assets included in accounts payable

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

Purchases of non-vehicle capital assets included in liabilities subject to compromise

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

152

680

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

(1,855)

(45)

(222)

Depreciation and reserves for revenue earning vehicles

2,259

2,791

2,546

Amortization of deferred financing costs and debt discount (premium)

225

203

218

(2)

Intangible and other asset impairments

(353)

(64)

213

Write-off of intercompany loan

133

(Gain) loss on marketable securities

(30)

(20)

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

(24)

(39)

(1)

(8)

195

(88)

(136)

(8)

(23)

366

402

(61)

(98)

(52)

(8)

(375)

(428)

Net cash provided by (used in) operating activities

(76)

(18)

956

2,907

2,563

(5,542)

(13,714)

(12,493)

10,098

9,486

8,452

Proceeds from non-vehicle capital assets disposed of or to be disposed of

(98)

(224)

(177)

Purchases of marketable securities

(60)

Net cash provided by (used in) investing activities

(1)

(6)

4,591

(4,425)

(4,197)

Early redemption premium payment

(75)

(53)

(47)

(34)

(19)

Advances to Hertz Holdings

(5)

(12)

(9)

Contributions from (distributions to) noncontrolling interests

(75)

Proceeds from issuance of stock, net

750

Net cash provided by (used in) financing activities

(5,403)

1,467

1,554

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

(14)

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

190

(50)

(94)

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

1,360

1,410

1,504

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

1,479

1,360

1,410

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

^[1]

1,550

1,360

1,410

(11)

Supplemental disclosures of non-cash information:

546

575

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

165

169

Sales of revenue earning vehicles included in vehicle receivables

144

667

510

Sales-type capital lease of revenue earning vehicles included in other receivables

Fleet payables included in liabilities subject to compromise

Purchases of non-vehicle capital assets included in accounts payable

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

Purchases of non-vehicle capital assets included in liabilities subject to compromise

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

152

680

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

4,546

13,013

14,009

(10,751)

(11,530)

(12,426)

Vehicle | The Hertz Corporation

335

431

379

4,546

13,013

14,009

(10,751)

(11,530)

(12,426)

335

431

379

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

1,812

3,016

557

(855)

(3,732)

(571)

Non-vehicle | The Hertz Corporation

109

272

286

1,812

3,016

557

(855)

(3,732)

(571)

$ 109

$ 272

$ 286

[1]	Amounts include cash and cash equivalents and restricted cash and cash equivalents which are held for sale as disclosed in Note 3, "Divestitures."

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Millions

Mar. 31, 2021

Dec. 31, 2020

Dec. 31, 2019

ASSETS

$ 1,087

$ 1,096

$ 865

Total cash, cash equivalents, restricted cash and restricted cash equivalents

1,353

411

495

2,440

1,507

1,360

793

777

1,840

786

373

689

7,919

7,540

17,085

(1,559)

(1,478)

(3,296)

6,360

6,062

13,789

Operating lease right-of-use asset

637

666

757

1,580

1,675

1,871

2,969

2,992

3,238

1,045

1,083

1,811

16,610

16,908

^[1]

24,627

^[1]

531

418

943

824

759

1,032

161

121

150

Operating lease liabilities at December 31, 2020

7,026

6,267

17,089

1,541

1,636

1,848

470

488

553

789

730

1,124

11,342

10,419

22,739

4,978

4,965

1,431

16,320

16,815

^[1]

22,739

^[1]

Stockholders' equity:

Preferred Stock

3,049

3,047

3,024

(2,491)

(2,681)

(967)

Stockholder's equity (deficit) attributable to Hertz

(195)

(212)

(189)

Treasury stock

(100)

265

1,769

119

Total liabilities and stockholder's equity (deficit)

290

1,888

$ 16,610

$ 16,908

$ 24,627

Treasury stock, shares

2,028,932

ASSETS

$ 119

$ 50

$ 466

157

164

791

141

289

6,286

6,024

13,368

ASSETS

1,234

361

636

613

1,049

390

389

654

740

243

3,721

ASSETS

1,087

1,096

865

Total cash, cash equivalents, restricted cash and restricted cash equivalents

1,325

383

495

2,412

1,479

1,360

793

777

1,840

785

372

689

7,919

7,540

17,085

(1,559)

(1,478)

(3,296)

6,360

6,062

13,789

Operating lease right-of-use asset

637

666

757

1,580

1,675

2,969

2,992

3,238

1,045

1,083

1,811

16,582

16,880

^[2]

24,627

^[2]

531

418

943

825

759

1,032

161

121

150

Operating lease liabilities at December 31, 2020

7,026

6,267

17,089

1,541

1,636

470

488

553

793

735

1,128

11,347

10,424

22,743

5,043

5,030

1,431

16,390

16,885

^[2]

22,743

^[2]

Stockholders' equity:

3,955

3,953

3,955

(3,593)

(3,783)

(1,937)

Stockholder's equity (deficit) attributable to Hertz

(195)

(212)

(189)

167

(42)

1,765

119

Total liabilities and stockholder's equity (deficit)

192

(5)

1,884

16,582

16,880

24,627

The Hertz Corporation | Variable Interest Entity, Primary Beneficiary

513

511

1,300

The Hertz Corporation | Vehicle

393

475

1,100

ASSETS

119

466

157

164

791

141

289

6,286

6,024

13,368

ASSETS

1,206

333

636

613

1,049

390

389

654

$ 740

$ 243

$ 3,721

[1]

[2]

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares issued	0	0	0
Preferred stock, shares outstanding	0	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares issued	158,235,410	158,235,410	144,153,444
Common stock, shares outstanding	156,206,478	156,206,478	142,124,512
Treasury stock, shares	2,028,932	2,028,932	2,028,932
Non-vehicle
Receivables, allowance for doubtful accounts (in dollars)	$ 56	$ 46	$ 35
The Hertz Corporation
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares issued	100	100	100
Common stock, shares outstanding	100	100	100
The Hertz Corporation \| Non-vehicle
Receivables, allowance for doubtful accounts (in dollars)	$ 56	$ 46	$ 35

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Revenues:
Worldwide vehicle rental	$ 1,153	$ 1,749	$ 4,628	$ 9,107	$ 8,756
All other operations	136	174	630	672	748
Total revenues	1,289	1,923	5,258	9,779	9,504
Expenses:
Direct vehicle and operating	827	1,241	3,627	5,486	5,355
Depreciation of revenue earning vehicles and lease charges	243	677	2,032	2,565	2,690
Selling, general and administrative	156	208	664	969	1,017
Total interest expense, net	148	175	(608)	(805)	(739)
Other (income) expense, net	(3)	(17)	(9)	(59)	(40)
Reorganization items, net	42	0	175	0	0
(Gain) from the sale of a business	(392)	0
Total expenses	1,021	2,284	7,310	9,766	9,761
Income (loss) before income taxes	268	(361)	(2,052)	13	(257)
Income tax (provision) benefit	(79)	4	329	(63)	30
Net income (loss)	189	(357)	(1,723)	(50)	(227)
Net (income) loss attributable to noncontrolling interests	1	1	9	(8)	2
Net income (loss) attributable to Hertz Global	$ 190	$ (356)	$ (1,714)	$ (58)	$ (225)
Weighted-average shares outstanding:
Basic (in shares)	156	142	150	117	96
Diluted (in shares)	157	142	150	117	96
Earnings (loss) per share:
Basic earnings (loss) per share (in dollars per share)	$ 1.22	$ (2.50)	$ (11.44)	$ (0.49)	$ (2.35)
Diluted earnings (loss) per share (in dollars per share)	$ 1.21	$ (2.50)	$ (11.44)	$ (0.49)	$ (2.35)
Vehicle
Expenses:
Total interest expense, net	$ 104	$ 118	$ 455	$ 494	$ 448
Non-vehicle
Expenses:
Total interest expense, net	44	57	153	311	291
The Hertz Corporation
Revenues:
Worldwide vehicle rental	1,153	1,749	4,628	9,107	8,756
All other operations	136	174	630	672	748
Total revenues	1,289	1,923	5,258	9,779	9,504
Expenses:
Direct vehicle and operating	827	1,241	3,627	5,486	5,355
Depreciation of revenue earning vehicles and lease charges	243	677	2,032	2,565	2,690
Selling, general and administrative	156	208	664	969	1,017
Total interest expense, net	148	173	(606)	(798)	(732)
Other (income) expense, net	(3)	(17)	(9)	(59)	(40)
Reorganization items, net	42	0	175	0	0
(Gain) from the sale of a business	(392)	0
Total expenses	1,021	2,282	7,441	9,759	9,754
Income (loss) before income taxes	268	(359)	(2,183)	20	(250)
Income tax (provision) benefit	(79)	3	328	(65)	28
Net income (loss)	189	(356)	(1,855)	(45)	(222)
Net (income) loss attributable to noncontrolling interests	1	1	9		2
Net income (loss) attributable to Hertz Global	190	(355)	(1,846)	(53)	(220)
The Hertz Corporation \| Vehicle
Expenses:
Total interest expense, net	104	118	455	494	448
The Hertz Corporation \| Non-vehicle
Expenses:
Total interest expense, net	$ 44	$ 55	$ 151	$ 304	$ 284

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net income (loss)	$ 189	$ (357)	$ (1,723)	$ (50)	$ (227)
Other comprehensive income (loss):
Foreign currency translation adjustments	17	(41)	(19)	6	(34)
Net gain (loss) on pension and postretirement benefit plans	0	1	(11)	(11)	(44)
Reclassification from other comprehensive income (loss) to other (income) expense for amortization of actuarial net losses	0	1	13	11	5
Total other comprehensive income (loss) before income taxes	17	(39)	(17)	6	(74)
Total other comprehensive income (loss)	17	(39)	(23)	3	(63)
Total comprehensive income (loss)	206	(396)	(1,746)	(47)	(290)
Comprehensive (income) loss attributable to noncontrolling interests	1	1	9	(8)	2
Comprehensive income (loss) attributable to Hertz Global	207	(395)	(1,737)	(55)	(288)
The Hertz Corporation
Net income (loss)	189	(356)	(1,855)	(45)	(222)
Other comprehensive income (loss):
Foreign currency translation adjustments	17	(41)	(19)	6	(34)
Net gain (loss) on pension and postretirement benefit plans	0	1	(11)	(11)	(44)
Reclassification from other comprehensive income (loss) to other (income) expense for amortization of actuarial net losses	0	1	13	11	5
Total other comprehensive income (loss) before income taxes	17	(39)	(17)	6	(74)
Total other comprehensive income (loss)	17	(39)	(23)	3	(63)
Total comprehensive income (loss)	206	(395)	(1,878)	(42)	(285)
Comprehensive (income) loss attributable to noncontrolling interests	1	1	9	(8)	2
Comprehensive income (loss) attributable to Hertz Global	$ 207	$ (394)	$ (1,869)	$ (50)	$ (283)

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDER'S EQUITY (DEFICIT) - USD ($) $ in Millions	Total	The Hertz Corporation	Stockholders' Equity Attributable to Hertz Global	Stockholders' Equity Attributable to Hertz Global The Hertz Corporation	Preferred Stock Shares	Common Stock Shares	Common Stock Shares The Hertz Corporation	Additional Paid-In Capital	Additional Paid-In Capital The Hertz Corporation	Due From Affiliate The Hertz Corporation	Accumulated Deficit	Accumulated Deficit The Hertz Corporation	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) The Hertz Corporation	Treasury Stock	Non- controlling Interests	Non- controlling Interests The Hertz Corporation
Beginning Balance (in shares) at Dec. 31, 2017					0	84,000,000	100								2,000,000
Beginning Balance at Dec. 31, 2017	$ 1,520	$ 1,520	$ 1,520	$ 1,520		$ 1	$ 0	$ 2,243	$ 3,166	$ (42)	$ (506)	$ (1,486)	$ (118)	$ (118)	$ (100)	$ 0	$ 0
Increase (Decrease) in Stockholders' Equity
Net income (loss) attributable to Hertz Global	(227)	(222)	(225)	(220)							(225)	(220)				(2)	(2)
Due from Hertz Holdings		(10)		(10)						(10)
Other comprehensive income (loss)	(63)	(63)	(63)	(63)									(63)	(63)
Net settlement on vesting of restricted stock	(3)		(3)					(3)
Stock-based compensation charges	21	21	21	21				21	21
Contributions from noncontrolling interests	61															61
Ending Balance (in shares) at Dec. 31, 2018					0	84,000,000	100								2,000,000
Ending Balance at Dec. 31, 2018	1,120	1,118	1,061	1,059		$ 1	$ 0	2,261	3,187	(52)	(909)	(1,884)	(192)	(192)	$ (100)	59	59
Increase (Decrease) in Stockholders' Equity
Net income (loss) attributable to Hertz Global	(50)	(45)	(58)	(53)							(58)	(53)				8	8
Due from Hertz Holdings		(12)		(12)						(12)
Other comprehensive income (loss)	3	3	3	3									3	3
Net settlement on vesting of restricted stock	(3)		(3)					(3)
Stock-based compensation charges	18	18	18	18				18	18
Contributions from noncontrolling interests	52	52														52	52
Ending Balance (in shares) at Dec. 31, 2019					0	142,000,000	100								2,000,000
Ending Balance at Dec. 31, 2019	1,888	1,884	1,769	1,765		$ 1	$ 0	3,024	3,955	(64)	(967)	(1,937)	(189)	(189)	$ (100)	119	119
Increase (Decrease) in Stockholders' Equity
Net income (loss) attributable to Hertz Global	(357)	(356)	(356)	(355)							(356)	(355)				(1)	(1)
Due from Hertz Holdings		(3)		(3)						(3)
Other comprehensive income (loss)	(39)	(39)	(39)	(39)									(39)	(39)
Net settlement on vesting of restricted stock	(2)		(2)					(2)
Contributions from noncontrolling interests	1	1														1	1
Ending Balance (in shares) at Mar. 31, 2020					0	142,000,000	100								2,000,000
Ending Balance at Mar. 31, 2020	1,491	1,487	1,372	1,368		$ 1	$ 0	3,022	3,955	(67)	(1,323)	(2,292)	(228)	(228)	$ (100)	119	119
Beginning Balance (in shares) at Dec. 31, 2019					0	142,000,000	100								2,000,000
Beginning Balance at Dec. 31, 2019	1,888	1,884	1,769	1,765		$ 1	$ 0	3,024	3,955	(64)	(967)	(1,937)	(189)	(189)	$ (100)	119	119
Increase (Decrease) in Stockholders' Equity
Net income (loss) attributable to Hertz Global	(1,723)	(1,855)	(1,714)	(1,846)							(1,714)	(1,846)				(9)	(9)
Due from Hertz Holdings		(4)		(4)						(4)
Other comprehensive income (loss)	(23)	(23)	(23)	(23)									(23)	(23)
Net settlement on vesting of restricted stock	(3)		(3)					(3)
Stock-based compensation charges	(2)	(2)	(2)	(2)				(2)	(2)
Distributions to noncontrolling interests, net	(73)	(73)														(73)	(73)
Ending Balance (in shares) at Dec. 31, 2020					0	156,000,000	100								2,000,000
Ending Balance at Dec. 31, 2020	93	(5)	56	(42)		$ 2	$ 0	3,047	3,953	$ 0	(2,681)	(3,783)	(212)	(212)	$ (100)	37	37
Increase (Decrease) in Stockholders' Equity
Net income (loss) attributable to Hertz Global	189	189	190	190							190	190				(1)	(1)
Other comprehensive income (loss)	17	17	17	17									17	17
Stock-based compensation charges	2	2	2	2				2	2
Distributions to noncontrolling interests, net	(11)	(11)														(11)	(11)
Ending Balance (in shares) at Mar. 31, 2021					0	156,000,000	100								2,000,000
Ending Balance at Mar. 31, 2021	$ 290	$ 192	$ 265	$ 167		$ 2	$ 0	$ 3,049	$ 3,955		$ (2,491)	$ (3,593)	$ (195)	$ (195)	$ (100)	$ 25	$ 25

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

3 Months Ended

12 Months Ended

Mar. 31, 2021

Mar. 31, 2020

Dec. 31, 2020

Dec. 31, 2019

Dec. 31, 2018

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

$ 189

$ (357)

$ (1,723)

$ (50)

$ (227)

Depreciation and reserves for revenue earning vehicles

275

733

2,259

2,791

2,546

Amortization of deferred financing costs and debt discount (premium)

225

203

218

Non-cash reorganization items, net

(13)

(353)

(66)

(15)

(Gain) from the sale of a business

(392)

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

(1)

(21)

(9)

(73)

226

195

(88)

(136)

(87)

(61)

(8)

(23)

100

366

402

(86)

(59)

(61)

(98)

(14)

(52)

(8)

(78)

(66)

(375)

(428)

Net cash provided by (used in) operating activities

(15)

(17)

(76)

(18)

200

449

953

2,900

2,556

(1,517)

(4,346)

(5,542)

(13,714)

(12,493)

686

2,212

10,098

9,486

8,452

Proceeds from non-vehicle capital assets disposed of or to be disposed of

(9)

(59)

(98)

(224)

(177)

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

818

Net cash provided by (used in) investing activities

(1)

(6)

(18)

(2,097)

4,591

(4,425)

(4,197)

Contributions from (distributions to) noncontrolling interests

(7)

(9)

(75)

(53)

(47)

(10)

Net cash provided by (used in) financing activities

(2)

(3)

(2)

692

1,701

(5,372)

1,474

1,561

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

(12)

(4)

(14)

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

862

218

(50)

(94)

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

^[1]

1,578

1,360

1,410

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

2,440

1,409

1,507

1,360

1,410

Supplemental disclosures of non-cash information:

(4)

(11)

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

103

200

165

169

Sales of revenue earning vehicles included in vehicle receivables

119

1,043

144

667

510

Purchases of non-vehicle capital assets included in accounts payable

Purchases of non-vehicle capital assets included in liabilities subject to compromise

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

1,096

3,661

4,546

13,013

14,009

(946)

(2,538)

(10,751)

(11,530)

(12,426)

103

335

431

379

560

1,440

1,812

3,016

557

(1)

(851)

(855)

(3,732)

(571)

109

272

286

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

189

(356)

(1,855)

(45)

(222)

Depreciation and reserves for revenue earning vehicles

275

733

2,259

2,791

2,546

Amortization of deferred financing costs and debt discount (premium)

225

203

218

Non-cash reorganization items, net

(12)

(353)

(64)

(15)

(Gain) from the sale of a business

(392)

(8)

(73)

226

195

(88)

(136)

(87)

(61)

(8)

(23)

100

366

402

(86)

(59)

(61)

(98)

(14)

(52)

(8)

(78)

(66)

(375)

(428)

Net cash provided by (used in) operating activities

(15)

(17)

(76)

(18)

200

450

956

2,907

2,563

(1,517)

(4,346)

(5,542)

(13,714)

(12,493)

686

2,212

10,098

9,486

8,452

Proceeds from non-vehicle capital assets disposed of or to be disposed of

(9)

(59)

(98)

(224)

(177)

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

818

Net cash provided by (used in) investing activities

(1)

(6)

(18)

(2,097)

4,591

(4,425)

(4,197)

Advances to Hertz Holdings

(7)

(9)

(75)

(53)

(47)

(3)

(5)

(12)

(9)

Contributions from (distributions to) noncontrolling interests

(10)

Net cash provided by (used in) financing activities

692

1,700

(5,403)

1,467

1,554

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

(12)

(4)

(14)

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

862

190

(50)

(94)

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

^[1]

1,550

1,360

1,410

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

2,412

1,409

1,479

1,360

1,410

Supplemental disclosures of non-cash information:

(4)

(11)

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

103

200

165

169

Sales of revenue earning vehicles included in vehicle receivables

144

667

510

Purchases of non-vehicle capital assets included in accounts payable

Purchases of non-vehicle capital assets included in liabilities subject to compromise

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

The Hertz Corporation | Vehicle

1,096

3,661

4,546

13,013

14,009

(946)

(2,538)

(10,751)

(11,530)

(12,426)

Supplemental disclosures of non-cash information:

103

335

431

379

Sales of revenue earning vehicles included in vehicle receivables

119

1,043

560

1,440

1,812

3,016

557

(1)

(851)

(855)

(3,732)

(571)