Hertz 2008 Annual Report Download - page 213
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SCHEDULE I (Continued)
HERTZ GLOBAL HOLDINGS, INC.
NOTES TO PARENT COMPANY FINANCIAL STATEMENTS
Note 1—Background and Basis of Presentation
Hertz Global Holdings, Inc., or ‘‘Hertz Holdings,’’ is the top-level holding company that conducts
substantially all of its business operations through its indirect subsidiaries. Hertz Holdings was
incorporated in Delaware on August 31, 2005 in anticipation of the December 21, 2005 acquisition by its
subsidiary, Hertz Investors, Inc., of the Hertz Corporation.
There are significant restrictions over the ability of Hertz Holdings to obtain funds from its indirect
subsidiaries through dividends, loans or advances. Accordingly, these condensed financial statements
have been presented on a ‘‘parent-only’’ basis. Under a parent-only presentation, the investments of
Hertz Holdings in its consolidated subsidiaries are presented under the equity method of accounting.
These parent-only financial statements should be read in conjunction with the consolidated financial
statements of Hertz Holdings included in this Annual Report under the caption ‘‘Item 8—Financial
Statements and Supplementary Data.’’ For a discussion of background and basis of presentation, see
Note 1 to the Notes to the consolidated financial statements included in this Annual Report under the
caption ‘‘Item 8—Financial Statements and Supplementary Data.’’
Note 2—Debt
As of December 31, 2008 and December 31, 2007, Hertz Holdings had no direct outstanding debt
obligations, but its indirect subsidiaries did. For a discussion of the debt obligations of the indirect
subsidiaries of Hertz Holdings, see Note 3 to the Notes to the consolidated financial statements included
in this Annual Report under the caption ‘‘Item 8—Financial Statements and Supplementary Data.’’
Note 3—Commitments and Contingencies
Hertz Holdings has no direct commitments and contingencies, but its indirect subsidiaries do. For a
discussion of the commitments and contingencies of the indirect subsidiaries of Hertz Holdings, see
Notes 8 and 10 to the Notes to the consolidated financial statements included in this Annual Report
under the caption ‘‘Item 8—Financial Statements and Supplementary Data.’’
Note 4—Dividends
Hertz Holdings did not receive any cash dividends from its subsidiaries during 2008 and 2007.
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