$HRI
HERC HOLDINGS INC

2012 Q2 Form 10-Q Financial Statement

#000104746912007702 Filed on August 03, 2012

View on sec.gov

Income Statement

Concept 2012 Q2 2011 Q2
Revenue $2.226B $2.072B
YoY Change 7.43%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $218.4M $195.6M
YoY Change 11.66%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $218.4M $195.6M
YoY Change 11.66%
Operating Profit
YoY Change
Interest Expense $152.2M $165.8M
YoY Change -8.22%
% of Operating Profit
Other Income/Expense, Net $600.0K -$10.80M
YoY Change -105.56%
Pretax Income $148.0M $94.60M
YoY Change 56.45%
Income Tax $60.10M $34.56M
% Of Pretax Income 40.61% 36.53%
Net Earnings $92.90M $60.09M
YoY Change 54.61%
Net Earnings / Revenue 4.17% 2.9%
Basic Earnings Per Share $0.21 $0.13
Diluted Earnings Per Share $0.20 $0.12
COMMON SHARES
Basic Shares Outstanding 420.0M shares 415.9M shares
Diluted Shares Outstanding 447.4M shares 451.8M shares

Balance Sheet

Concept 2012 Q2 2011 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $586.2M $747.6M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $452.4M
YoY Change
Intangibles $2.544B
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $19.43B
YoY Change
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities
Total Long-Term Liabilities
Total Liabilities $17.16B
YoY Change
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity
YoY Change

Cashflow Statement

Concept 2012 Q2 2011 Q2
OPERATING ACTIVITIES
Net Income $92.90M $60.09M
YoY Change 54.61%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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<table style="font-size:10pt; font-family:'Times New Roman',times,serif;"> <tr> <td> <p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"><font size="2"><b>Note&#160;1&#8212;Background </b></font></p> <p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"><font size="2">Hertz Global Holdings,&#160;Inc., or "Hertz Holdings," is our top-level holding company. The Hertz Corporation, or "Hertz," is our primary operating company and a direct wholly-owned subsidiary of Hertz Investors,&#160;Inc., which is wholly-owned by Hertz Holdings. "We," "us" and "our" mean Hertz Holdings and its consolidated subsidiaries, including Hertz. </font></p> <p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"><font size="2">We are a successor to corporations that have been engaged in the car and truck rental and leasing business since 1918 and the equipment rental business since 1965. Hertz was incorporated in Delaware in 1967. Ford Motor Company acquired an ownership interest in Hertz in 1987. Prior to this, Hertz was a subsidiary of United Continental Holdings,&#160;Inc. (formerly Allegis Corporation), which acquired Hertz's outstanding capital stock from RCA Corporation in 1985. Hertz Holdings was incorporated in Delaware in 2005 and had no operations prior to the Acquisition (as defined below). </font></p> <p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"><font size="2">On December&#160;21, 2005, investment funds associated with or designated by:<br /></font></p> <ul> <li style="list-style: none"> <dl compact="compact"> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: arial"><font size="2">&#8226;</font> </dt> <dd style="FONT-FAMILY: arial; TEXT-ALIGN: justify"><font size="2">Clayton, Dubilier&#160;&amp; Rice,&#160;Inc., which was succeeded by Clayton, Dubilier&#160;&amp; Rice,&#160;LLC, or "CD&amp;R," <br /> <br /></font></dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: arial"><font size="2">&#8226;</font> </dt> <dd style="FONT-FAMILY: arial; TEXT-ALIGN: justify"><font size="2">The Carlyle Group, or "Carlyle," and <br /> <br /></font></dd> <dt style="MARGIN-BOTTOM: -11pt; FONT-FAMILY: arial"><font size="2">&#8226;</font> </dt> <dd style="FONT-FAMILY: arial; TEXT-ALIGN: justify"><font size="2">Merrill Lynch Global Private Equity,&#160;Inc., or "MLGPE," </font></dd></dl></li></ul> <p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"><font size="2">acquired all of Hertz's common stock from Ford Holdings&#160;LLC. In January 2009, Bank of America Corporation, or "Bank of America," acquired Merrill Lynch&#160;&amp;&#160;Co.,&#160;Inc., the former parent company of MLGPE. Accordingly, Bank of America is now an indirect beneficial owner of our common stock held by the investment funds associated with MLGPE. We refer to CD&amp;R, Carlyle and MLGPE collectively as the "Sponsors." We refer to the acquisition of all of Hertz's common stock by the Sponsors as the "Acquisition." </font></p> <p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"><font size="2">After giving effect to our initial public offering in November 2006 and subsequent offerings, the Sponsors' holdings represent approximately 38% of the outstanding shares of common stock of Hertz Holdings as of June&#160;30, 2012. </font></p> <p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"><font size="2">On September&#160;1, 2011, Hertz completed the acquisition of Donlen Corporation, or "Donlen," a leading provider of fleet leasing and management services. </font></p> <p style="FONT-FAMILY: arial; TEXT-ALIGN: justify"><font size="2">On December&#160;31, 2011, Hertz purchased the noncontrolling interest of Navigation Solutions, L.L.C., thereby increasing its ownership interest from 65% to 100%.</font></p></td></tr></table>
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27600000 shares

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