Hertz 2009 Annual Report Download - page 46

ITEM 1. BUSINESS (Continued)
could, however, be quickly imposed if there were a serious disruption in supply for any reason, including
an act of war, terrorist incident or other problem affecting petroleum supply, refining, distribution or
pricing.
Relationship with Ford
Prior to the Acquisition, Ford, through its wholly-owned subsidiary Ford Holdings, was Hertz’s only
stockholder. As a result of the Acquisition, Hertz Holdings indirectly owned all of Hertz’s outstanding
common stock. Based upon this ownership, we historically had an extensive relationship with Ford,
however since the Sponsors acquired us, our relationships with Ford have steadily decreased, and we
no longer deem any of our current relationships with Ford to be material.
Taxes
Prior to the Acquisition, Hertz and its domestic subsidiaries filed a consolidated federal income tax return
with Ford. Pursuant to a tax sharing agreement, with Ford, current and deferred taxes were reported, and
paid to Ford, as if Hertz had filed its own consolidated tax returns with its domestic subsidiaries. The tax
sharing agreement provided that Hertz was reimbursed for foreign tax credits in accordance with the
utilization of those credits by the Ford consolidated tax group.
On December 21, 2005, in connection with the Acquisition, the tax sharing agreement with Ford was
terminated. Upon termination, all tax payables and receivables with Ford were cancelled and neither
Hertz nor Ford has any future rights or obligations under the tax sharing agreement. Hertz may be
exposed to tax liabilities attributable to periods it was a consolidated subsidiary of Ford. While Ford has
agreed to indemnify Hertz for certain tax liabilities pursuant to the arrangements relating to our
separation from Ford, we cannot offer assurance that payments in respect of the indemnification
agreement will be available.
Available Information
We file annual, quarterly and current reports and other information with the United States Securities and
Exchange Commission, or the ‘‘SEC.’’ You may read and copy any documents that we file at the SEC’s
public reference room at 100 F Street, N.E., Washington, D.C. 20549. You may call the SEC at
1-800-SEC-0330 to obtain further information about the public reference room. In addition, the SEC
maintains an Internet website (www.sec.gov) that contains reports, proxy and information statements
and other information about issuers that file electronically with the SEC, including Hertz Holdings. You
may also access, free of charge, our reports filed with the SEC (for example, our Annual Report on
Form 10-K, our Quarterly Reports on Form 10-Q and our Current Reports on Form 8-K and any
amendments to those forms) indirectly through our Internet website (www.hertz.com). Reports filed with
or furnished to the SEC will be available as soon as reasonably practicable after they are filed with or
furnished to the SEC. The information found on our website is not part of this or any other report filed with
or furnished to the SEC.
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