Hertz 2009 Annual Report Download - page 93
Download and view the complete annual report
Please find page 93 of the 2009 Hertz annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2
-
3
-
4
-
5
-
6
-
7
-
8
-
9
-
10
-
11
-
12
-
13
-
14
-
15
-
16
-
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83 -
84 -
85 -
86 -
87 -
88 -
89 -
90 -
91 -
92 -
93 -
94 -
95 -
96 -
97 -
98 -
99 -
100 -
101 -
102 -
103 -
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
-
193
-
194
-
195
-
196
-
197
-
198
-
199
-
200
-
201
-
202
-
203
-
204
-
205
-
206
-
207
-
208
-
209
-
210
-
211
-
212
-
213
-
214
-
215
-
216
-
217
-
218
-
219
-
220
-
221
-
222
-
223
-
224
-
225
-
226
-
227
-
228
-
229
-
230
-
231
-
232
 |
 |
ITEM 7. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND
RESULTS OF OPERATIONS (Continued)
the fact that not only revenues but also most expenses outside of the United States were incurred in local
currencies.
Year Ended December 31, 2008 Compared with Year Ended December 31, 2007
REVENUES
Years Ended
December 31,
2008 2007 $ Change % Change
(in millions of dollars)
Revenues by Segment
Car rental ................................ $6,858.2 $6,920.6 $ (62.4) (0.9)%
Equipment rental ........................... 1,658.1 1,755.9 (97.8) (5.6)%
Other reconciling items ...................... 8.8 9.1 (0.3) (3.3)%
Total revenues ........................... $8,525.1 $8,685.6 $(160.5) (1.8)%
Car Rental Segment
Revenues from our car rental segment decreased 0.9%, primarily as a result of lower RPD, a 1.1%
decrease in car rental transaction days worldwide and a decrease in airport concession recovery fees of
$10.4 million, partly offset by the effects of foreign currency translation of approximately $121.4 million
and an increase in refueling fees of $31.9 million.
RPD for worldwide car rental for the year ended December 31, 2008 declined 2.3% from 2007, due to
declines in U.S. and International RPD of 2.0% and 3.5%, respectively. U.S. airport RPD decreased 1.9%
and U.S. off-airport RPD declined by 1.0%. Our strategy includes increasing penetration in the off-airport
market and growing the online leisure market, particularly in the longer length weekly sector, which is
characterized by lower vehicle costs and lower transaction costs at lower RPD. Increasing our
penetration in these sectors is consistent with our long term strategy to generate profitable growth.
Equipment Rental Segment
Revenues from our equipment rental segment decreased 5.6%, primarily due to a 6.1% decrease in
equipment rental volume and a 1.4% decline in pricing, partly offset by the effects of foreign currency
translation of approximately $19.6 million.
Other
Revenues from all other sources decreased 3.3%, primarily due to decreases in our third-party claim
management services.
73