Hertz 2009 Annual Report Download - page 84

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ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS (Continued)
revenues represented by the various line items in our consolidated statements of operations (in millions
of dollars):
Percentage of Revenues
Years Ended December 31, Years Ended December 31,
2009 2008 2007 2009 2008 2007
Revenues:
Car rental ..................... $5,872.9 $ 6,730.4 $6,800.7 82.7% 79.0% 78.3%
Equipment rental ............... 1,110.2 1,657.3 1,755.3 15.6 19.4 20.2
Other ........................ 118.4 137.4 129.6 1.7 1.6 1.5
Total revenues ................ 7,101.5 8,525.1 8,685.6 100.0 100.0 100.0
Expenses:
Direct operating ................ 4,084.2 4,930.0 4,644.1 57.5 57.8 53.4
Depreciation of revenue earning
equipment .................. 1,931.4 2,194.2 2,003.4 27.2 25.8 23.1
Selling, general and administrative . . . 641.1 769.6 775.9 9.0 9.0 8.9
Interest expense ................ 680.3 870.0 916.7 9.6 10.2 10.6
Interest and other income, net ...... (64.5) (24.8) (41.3) (0.9) (0.3) (0.5)
Impairment charges ............. — 1,168.9 ——13.7 —
Total expenses ............... 7,272.5 9,907.9 8,298.8 102.4 116.2 95.5
Income (loss) before income taxes and
noncontrolling interest ............ (171.0) (1,382.8) 386.8 (2.4) (16.2) 4.5
(Provision) benefit for taxes on income . 59.7 196.9 (102.6) 0.8 2.3 (1.2)
Net income (loss) ................. (111.3) (1,185.9) 284.2 (1.6) (13.9) 3.3
Less: Net income attributable to
noncontrolling interest ............ (14.7) (20.8) (19.7) (0.2) (0.2) (0.2)
Net income (loss) attributable to Hertz
Global Holdings, Inc. and
Subsidiaries’ common stockholders . . $ (126.0) $(1,206.7) $ 264.5 (1.8)% (14.1)% 3.1%
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