Hertz 2009 Annual Report Download - page 22

•our ability to maintain sufficient liquidity and the availability to us of additional or continued sources
of financing for our revenue earning equipment and to refinance our existing indebtedness;
•financial instability of insurance companies providing financial guarantees for our asset-backed
securities;
•safety recalls by the manufacturers of our vehicles and equipment;
•a major disruption in our communication or centralized information networks;
•financial instability of the manufacturers of our vehicles and equipment;
•any impact on us from the actions of our licensees, dealers and independent contractors;
•our ability to maintain profitability during adverse economic cycles and unfavorable external events
(including war, terrorist acts, natural disasters and epidemic disease);
•shortages of fuel and increases or volatility in fuel costs;
•our ability to successfully integrate future acquisitions and complete future dispositions;
•costs and risks associated with litigation;
•risks related to our indebtedness, including our substantial amount of debt and our ability to incur
substantially more debt;
•our ability to meet the financial and other covenants contained in our senior credit facilities, our
outstanding unsecured senior notes and certain asset-backed funding arrangements;
•changes in accounting principles, or their application or interpretation, and our ability to make
estimates and the assumptions underlying the estimates, which could have an effect on earnings;
•changes in the existing, or the adoption of new laws, regulations, policies or other activities of
governments, agencies and similar organizations where such actions may affect our operations,
the cost thereof or applicable tax rates;
•the effect of tangible and intangible asset impairment charges;
•the impact of our derivative instruments, which can be affected by fluctuations in interest rates;
•our exposure to fluctuations in foreign exchange rates; and
•other risks described from time to time in periodic and current reports that we file with the SEC.
You should not place undue reliance on forward-looking statements. All forward-looking statements
attributable to us or persons acting on our behalf are expressly qualified in their entirety by the foregoing
cautionary statements. All such statements speak only as of the date made, and we undertake no
obligation to update or revise publicly any forward-looking statements, whether as a result of new
information, future events or otherwise.
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