Hertz 2011 Annual Report Download - page 113
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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,
2011 2010 2009
Revenues:
Car rental ................................... $6,929,584 $6,355,205 $5,872,905
Equipment rental ............................. 1,208,811 1,069,820 1,110,243
Other ...................................... 159,985 137,509 118,359
Total revenues .............................. 8,298,380 7,562,534 7,101,507
Expenses:
Direct operating .............................. 4,566,378 4,283,394 4,086,810
Depreciation of revenue earning equipment and lease
charges .................................. 1,905,739 1,868,147 1,933,811
Selling, general and administrative ................. 745,278 664,512 641,944
Interest expense .............................. 699,718 773,427 680,273
Interest income ............................... (5,551) (12,315) (15,967)
Other (income) expense, net ..................... 62,548 5 (48,472)
Total expenses ............................. 7,974,110 7,577,170 7,278,399
Income (loss) before income taxes .................. 324,270 (14,636) (176,892)
(Provision) benefit for taxes on income ............... (128,540) (16,662) 62,043
Net income (loss) .............................. 195,730 (31,298) (114,849)
Less: Net income attributable to noncontrolling interest . . . (19,560) (17,383) (14,679)
Net income (loss) attributable to Hertz Global
Holdings, Inc. and Subsidiaries’ common stockholders . . $ 176,170 $ (48,681) $ (129,528)
Weighted average shares outstanding (in thousands)
Basic ...................................... 415,882 411,941 371,456
Diluted ..................................... 444,778 411,941 371,456
Earnings (loss) per share attributable to Hertz Global
Holdings, Inc. and Subsidiaries’ common stockholders:
Basic ...................................... $ 0.42 $ (0.12) $ (0.35)
Diluted ..................................... $ 0.40 $ (0.12) $ (0.35)
The accompanying notes are an integral part of these financial statements.
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