Hertz 2009 Annual Report Download - page 115
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HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In Thousands of Dollars, except share and per share data)
Years ended December 31,
2009 2008 2007
Revenues:
Car rental .................................. $5,872,905 $ 6,730,349 $6,800,657
Equipment rental ............................. 1,110,243 1,657,277 1,755,330
Other ..................................... 118,359 137,429 129,644
Total revenues ............................. 7,101,507 8,525,055 8,685,631
Expenses:
Direct operating .............................. 4,084,176 4,930,018 4,644,148
Depreciation of revenue earning equipment .......... 1,931,358 2,194,164 2,003,360
Selling, general and administrative ................ 641,148 769,632 775,881
Interest expense ............................. 680,273 869,950 916,725
Interest and other income, net ................... (64,439) (24,802) (41,303)
Impairment charges ........................... — 1,168,900 —
Total expenses ............................. 7,272,516 9,907,862 8,298,811
Income (loss) before income taxes .................. (171,009) (1,382,807) 386,820
(Provision) benefit for taxes on income ............... 59,666 196,847 (102,571)
Net income (loss) .............................. (111,343) (1,185,960) 284,249
Less: Net income attributable to noncontrolling interest . . . (14,679) (20,786) (19,690)
Net income (loss) attributable to Hertz Global
Holdings, Inc. and Subsidiaries’ common stockholders . $ (126,022) $(1,206,746) $ 264,559
Weighted average shares outstanding (in thousands)
Basic ..................................... 371,456 322,701 321,185
Diluted .................................... 371,456 322,701 325,487
Earnings (loss) per share attributable to Hertz Global
Holdings, Inc. and Subsidiaries’ common stockholders:
Basic ..................................... $ (0.34) $ (3.74) $ 0.82
Diluted .................................... $ (0.34) $ (3.74) $ 0.81
The accompanying notes are an integral part of these financial statements.
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