2015 Q4 Form 10-Q Financial Statement

#000136447915000034 Filed on November 09, 2015

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2014 Q3
Revenue $2.413B $2.976B $3.121B
YoY Change -5.71% -4.65% 1.5%
Cost Of Revenue $230.3M $20.60M
YoY Change -19.9%
Gross Profit $192.1M $2.955B
YoY Change -1.03%
Gross Profit Margin 7.96% 99.31%
Selling, General & Admin $74.00M $62.80M $303.0M
YoY Change -69.8% -79.27% 7.45%
% of Gross Profit 38.52% 2.12%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $105.2M $108.1M $308.5M
YoY Change -1.31% -64.96%
% of Gross Profit 54.76% 3.66%
Operating Expenses $160.1M $62.80M $303.0M
YoY Change -34.65% -79.27% 7.45%
Operating Profit $32.00M $2.893B
YoY Change -162.87%
Interest Expense $7.300M $158.0M $164.0M
YoY Change -165.77% -3.66% -10.04%
% of Operating Profit 22.81% 5.46%
Other Income/Expense, Net $55.80M $1.200M -$3.000M
YoY Change -1030.0% -140.0% -96.39%
Pretax Income $95.10M $35.50M $203.0M
YoY Change -133.49% -82.51% -34.94%
Income Tax $16.90M $14.70M $54.00M
% Of Pretax Income 17.77% 41.41% 26.6%
Net Earnings $78.20M $20.80M $149.0M
YoY Change -133.42% -86.04% -26.24%
Net Earnings / Revenue 3.24% 0.7% 4.77%
Basic Earnings Per Share $2.68 $0.69 $0.32
Diluted Earnings Per Share $2.68 $0.69 $0.32
COMMON SHARES
Basic Shares Outstanding 444.4M shares 30.30M shares 459.0M shares
Diluted Shares Outstanding 30.30M shares 464.0M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2014 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $15.70M $16.70M
YoY Change -16.93%
Cash & Equivalents $24.70M $3.600M $629.0M
Short-Term Investments
Other Short-Term Assets $27.00M $202.0M
YoY Change -54.31%
Inventory $22.30M $62.00M $94.00M
Prepaid Expenses
Receivables $287.8M $294.5M
Other Receivables $8.700M $39.10M
Total Short-Term Assets $361.5M $578.9M
YoY Change -24.91%
LONG-TERM ASSETS
Property, Plant & Equipment $246.6M $1.277B $1.264B
YoY Change -81.35% 1.03% -0.94%
Goodwill $91.00M $1.358B $1.349B
YoY Change -4.31% 0.67% -1.03%
Intangibles $566.5M $3.900B $4.049B
YoY Change -85.87% -3.68% -1.87%
Long-Term Investments
YoY Change
Other Assets $14.90M $16.70M
YoY Change 24.17%
Total Long-Term Assets $3.036B $23.99B
YoY Change -87.08%
TOTAL ASSETS
Total Short-Term Assets $361.5M $578.9M
Total Long-Term Assets $3.036B $23.99B
Total Assets $3.397B $24.57B $25.47B
YoY Change -85.84% -3.55% 0.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $109.5M $158.5M
YoY Change -36.81%
Accrued Expenses $47.80M $49.60M
YoY Change -23.27%
Deferred Revenue
YoY Change
Short-Term Debt $73.20M $359.8M
YoY Change -84.5%
Long-Term Debt Due $10.20M $34.90M
YoY Change -3.77%
Total Short-Term Liabilities $282.3M $698.5M
YoY Change -62.8%
LONG-TERM LIABILITIES
Long-Term Debt $53.30M $285.0M
YoY Change -86.89%
Other Long-Term Liabilities $32.10M $25.50M
YoY Change 17.15%
Total Long-Term Liabilities $32.10M $310.5M
YoY Change -92.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $282.3M $698.5M
Total Long-Term Liabilities $32.10M $310.5M
Total Liabilities $1.095B $22.23B $22.70B
YoY Change -94.91% -2.04% -0.25%
SHAREHOLDERS EQUITY
Retained Earnings -$605.5M -$461.0M -$431.0M
YoY Change -8.81% 6.96% -23.58%
Common Stock $3.343B $3.338B $3.335B
YoY Change 0.4% 0.09% 3.54%
Preferred Stock
YoY Change
Treasury Stock (at cost) $692.0M $349.0M $87.00M
YoY Change 695.4% 301.15%
Treasury Stock Shares 2.700M shares 19.00M shares 4.000M shares
Shareholders Equity $2.302B $1.957B $2.866B
YoY Change
Total Liabilities & Shareholders Equity $3.397B $24.57B $25.47B
YoY Change -85.84% -3.55% 0.48%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2014 Q3
OPERATING ACTIVITIES
Net Income $78.20M $20.80M $149.0M
YoY Change -133.42% -86.04% -26.24%
Depreciation, Depletion And Amortization $105.2M $108.1M $308.5M
YoY Change -1.31% -64.96%
Cash From Operating Activities $121.1M $128.8M $336.9M
YoY Change 0.33% -61.77%
INVESTING ACTIVITIES
Capital Expenditures -$72.00M -$210.9M -$497.3M
YoY Change -55.25% -57.59%
Acquisitions
YoY Change
Other Investing Activities $146.2M $27.20M $178.7M
YoY Change 191.24% -84.78%
Cash From Investing Activities $74.20M -$183.7M -$318.6M
YoY Change -167.03% -42.34%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -181.9M 50.00M -5.000M
YoY Change 945.4% -1100.0%
NET CHANGE
Cash From Operating Activities 121.1M 128.8M 336.9M
Cash From Investing Activities 74.20M -183.7M -318.6M
Cash From Financing Activities -181.9M 50.00M -5.000M
Net Change In Cash 13.40M -4.900M 13.30M
YoY Change -281.08% -136.84%
FREE CASH FLOW
Cash From Operating Activities $121.1M $128.8M $336.9M
Capital Expenditures -$72.00M -$210.9M -$497.3M
Free Cash Flow $193.1M $339.7M $834.2M
YoY Change -31.43% -59.28%

Facts In Submission

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-weight:bold;"></font><font style="font-family:Arial;font-size:10pt;font-weight:bold;">Background</font><font style="font-family:Arial;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;padding-bottom:13px;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Hertz Global Holdings, Inc. ("Hertz Holdings," and together with its subsidiaries, the "Company") was incorporated in Delaware in 2005 to serve as the top-level holding company for Hertz Investors, Inc. which wholly owns The Hertz Corporation ("Hertz"), Hertz Holdings' primary operating company. The Company's common stock trades on the New York Stock Exchange under the symbol "HTZ".</font></div><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">In March 2014, the Company announced that its Board of Directors approved plans to separate Hertz Holdings into two independent, publicly traded companies. One of the companies will continue to operate the Hertz, Dollar, Thrifty and Firefly rental car businesses as well as Donlen; and the other will operate the Hertz Equipment Rental Corporation ("HERC"). The separation is planned to be in the form of a tax-free spin-off to Hertz Holdings' shareholders (the "HERC spin-off") and the Company expects to separate the businesses in a tax-efficient manner.</font></div></div>

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