Hertz 2007 Annual Report Download - page 98

effect to the U.S. and international fleet debt financings entered into as part of the Transactions as if they had occurred
on January 1, 2005. The adjustments reflect the following (in millions of dollars):
Successor Combined Successor Predecessor
For the Periods From
December 21, January 1,
Years ended 2005 to 2005 to
December 31, December 31, December 20,
2007 2006 2005 2005 2005
Corporate non-cash stock-based employee
compensation charges ............... $26.8 $ 27.2 $ 10.5 $ — $ 10.5
Non-cash amortization of debt costs included in
car rental fleet interest ................ 64.4 71.6 83.2 2.5 80.7
Non-cash charges for workers’ compensation . . 2.6 1.0 12.5 — 12.5
Corporate non-cash charges for pension ..... 12.2 9.1 — — —
Corporate unrealized (gain) loss on derivatives . (3.8) 2.5 — — —
Corporate unrealized transaction loss on
Euro-denominated senior notes .......... — 19.2 — — —
Total ............................ $102.2 $130.6 $106.2 $2.5 $103.7
(7) As defined in the credit agreements governing our senior credit facilities, Corporate EBITDA excludes the impact of
extraordinary, unusual or non-recurring gains or losses or charges or credits. The adjustments reflect the following (in
millions of dollars):
Successor Combined Successor Predecessor
For the Periods From
December 21, January 1,
Years ended 2005 to 2005 to
December 31, December 31, December 20,
2007 2006 2005 2005 2005
Management transition costs ............. $15.0 $ 9.8 $ — $ — $ —
Restructuring costs ................... 96.4 — — — —
Vacation accrual adjustment ............. (36.5) — — — —
Secondary offering costs ............... 2.0 — — — —
Corporate Sponsor fee termination costs ..... — 15.0 — — —
Gain on sale of swap derivative ........... — (1.0) — — —
European headquarters relocation costs ...... — — 4.0 — 4.0
Total ............................ $76.9 $ 23.8 $ 4.0 $ — $ 4.0
(8) For the Successor periods presented, car rental fleet interest and non-cash amortization of debt costs included in car
rental fleet interest are based on actual results. For the Predecessor period presented, car rental fleet interest and
non-cash amortization of debt costs included in car rental fleet interest have been presented on a pro forma basis to
give effect to the U.S. and international fleet debt financings entered into as part of the Transactions as if they had
occurred on January 1, 2005.
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