Hertz 2011 Annual Report Download - page 156
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HERTZ GLOBAL HOLDINGS, INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Continued)
As of December 31, 2011, minimum obligations under existing agreements referred to above that have a
maturity of more than one year are as follows (in millions of dollars):
2012 ................................................... $34.3
2013 ................................................... $ 7.7
2014 ................................................... $ 0.5
2015 ................................................... $ —
2016 ................................................... $ —
After 2016 ............................................... $ —
Commitments under capital leases within our vehicle rental programs have been reflected in Note 4—
Debt.
Note 10—Segment Information
Our operating segments are aggregated into reportable business segments based primarily upon
similar economic characteristics, products, services, customers, and delivery methods. We have
identified two reportable segments: rental and leasing of cars, crossovers and light trucks, or ‘‘car
rental,’’ and rental of industrial, construction and material handling equipment, or ‘‘equipment rental.’’
Other reconciling items includes general corporate assets and expenses, certain interest expense
(including net interest on corporate debt), as well as other business activities, such as our third party
claim management services.
Adjusted pre-tax income (loss) is the measure utilized by management in making decisions about
allocating resources to segments and measuring their performance. We believe this measure best
reflects the financial results from ongoing operations. Adjusted pre-tax income (loss) is calculated as
income (loss) before income taxes plus other reconciling items, non-cash purchase accounting
charges, non-cash debt charges and certain one-time charges and non-operational items. The
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