Hertz 2009 Annual Report Download - page 114

HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(In Thousands of Dollars)
December 31,
2009 2008
ASSETS
Cash and cash equivalents ................................ $ 985,642 $ 594,266
Restricted cash and cash equivalents ........................ 365,159 731,373
Receivables, less allowance for doubtful accounts of $21,268 and
$16,572 ............................................ 1,325,332 1,911,084
Inventories, at lower of cost or market ........................ 93,415 96,187
Prepaid expenses and other assets .......................... 300,125 286,712
Revenue earning equipment, at cost:
Cars .............................................. 8,205,579 7,635,402
Less accumulated depreciation .......................... (1,186,299) (1,133,946)
Other equipment ...................................... 2,582,029 2,708,254
Less accumulated depreciation .......................... (749,724) (518,172)
Total revenue earning equipment ....................... 8,851,585 8,691,538
Property and equipment, at cost:
Land, buildings and leasehold improvements ................. 1,023,891 1,033,098
Service equipment .................................... 838,906 751,925
1,862,797 1,785,023
Less accumulated depreciation .......................... (674,668) (530,463)
Total property and equipment ......................... 1,188,129 1,254,560
Other intangible assets, net ............................... 2,597,682 2,621,586
Goodwill ............................................. 295,350 264,061
Total assets ...................................... $16,002,419 $16,451,367
LIABILITIES AND EQUITY
Accounts payable ...................................... $ 658,671 $ 931,336
Accrued salaries and other compensation ..................... 465,281 437,340
Other accrued liabilities .................................. 559,541 700,534
Accrued taxes ......................................... 108,356 128,360
Debt ................................................ 10,364,367 10,972,297
Public liability and property damage ......................... 277,828 311,352
Deferred taxes on income ................................. 1,470,934 1,481,866
Total liabilities ..................................... 13,904,978 14,963,085
Commitments and contingencies (Note 10)
Equity:
Hertz Global Holdings Inc. and Subsidiaries stockholders’ equity
Common Stock, $0.01 par value, 2,000,000,000 shares authorized,
410,245,225 and 322,987,299 shares issued and outstanding .... 4,102 3,230
Preferred Stock, $0.01 par value, 200,000,000 shares authorized, no
shares issued and outstanding .......................... ——
Additional paid-in capital ................................ 3,141,695 2,503,819
Accumulated deficit .................................... (1,062,318) (936,296)
Accumulated other comprehensive loss ..................... (3,331) (100,135)
Total Hertz Global Holdings, Inc. and Subsidiaries stockholders’
equity ......................................... 2,080,148 1,470,618
Noncontrolling interest ................................... 17,293 17,664
Total equity ...................................... 2,097,441 1,488,282
Total liabilities and equity ............................ $16,002,419 $16,451,367
The accompanying notes are an integral part of these financial statements.
94