Hertz 2007 Annual Report Download - page 127

HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In Thousands of Dollars)
December 31,
2007 2006
ASSETS
Cash and equivalents .................................... $ 730,203 $ 674,549
Restricted cash ........................................ 661,025 552,516
Receivables, less allowance for doubtful accounts of $11,137 and
$1,989 ............................................. 1,690,956 1,656,542
Inventories, at lower of cost or market ........................ 118,997 112,119
Prepaid expenses and other assets .......................... 317,613 369,922
Revenue earning equipment, at cost:
Cars .............................................. 8,572,387 8,188,794
Less accumulated depreciation .......................... (962,054) (822,387)
Other equipment ...................................... 3,108,799 2,686,947
Less accumulated depreciation .......................... (411,272) (247,846)
Total revenue earning equipment ....................... 10,307,860 9,805,508
Property and equipment, at cost:
Land, buildings and leasehold improvements ................. 1,022,438 969,195
Service equipment .................................... 685,579 597,882
1,708,017 1,567,077
Less accumulated depreciation .......................... (362,469) (199,020)
Total property and equipment ......................... 1,345,548 1,368,057
Other intangible assets, net ............................... 3,123,467 3,173,495
Goodwill ............................................. 959,993 964,693
Total assets ..................................... $19,255,662 $18,677,401
LIABILITIES AND STOCKHOLDERS’ EQUITY
Accounts payable ...................................... $ 1,064,878 $ 654,327
Accrued salaries and other compensation ..................... 424,310 463,466
Other accrued liabilities .................................. 603,812 513,483
Accrued taxes ......................................... 127,992 92,469
Debt ................................................ 11,960,126 12,276,184
Public liability and property damage ......................... 343,028 327,024
Deferred taxes on income ................................. 1,797,099 1,801,073
Total liabilities ................................... 16,321,245 16,128,026
Commitments and contingencies
Minority interest ........................................ 21,028 14,813
Stockholders’ equity:
Common Stock, $0.01 par value, 2,000,000,000 shares authorized,
321,862,083 and 320,618,692 shares issued ................ 3,219 3,206
Preferred Stock, $0.01 par value, 200,000,000 shares authorized, no
shares issued ...................................... — —
Additional paid-in capital .................................. 2,469,213 2,427,293
Retained earnings ...................................... 270,450 9,535
Accumulated other comprehensive income .................... 170,507 94,528
Total stockholders’ equity ........................... 2,913,389 2,534,562
Total liabilities and stockholders’ equity ................. $19,255,662 $18,677,401
The accompanying notes are an integral part of these financial statements.
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