Hertz 2013 Annual Report Download - page 163
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Table of Contents
Cash flows from operating activities:
Net income $394.0
$271.2
$198.4
Adjustments to reconcile net income to net cash provided by operating
activities (212.8)
(1,149.0)
801.5
Net cash provided by (used in) operating activities 181.2
(877.8)
999.9
Cash flows from investing activities:
Net change in restricted cash and cash equivalents (23.4)
12.0
(28.6)
Revenue earning equipment expenditures (149.5)
(87.7)
(141.4)
Proceeds from disposal of revenue earning equipment 136.4
79.4
163.3
Property and equipment expenditures (192.4)
(173.1)
(189.5)
Proceeds from disposal of property and equipment 42.4
67.4
24.0
Capital contributions to subsidiaries (937.9)
(2,989.7)
(3,549.1)
Return of capital from subsidiaries 1,133.9
3,106.7
2,590.0
Acquisitions, net of cash acquired —
(1,708.5)
(214.4)
Purchase of short-term investments, net —
—
(32.9)
Net cash provided by (used in) investing activities 9.5
(1,693.5)
(1,378.6)
Cash flows from financing activities:
Proceeds from issuance of long-term debt 250.0
2,210.0
2,455.3
Payment of long-term debt (33.8)
(650.4)
(3,596.3)
Short-term borrowings:
Payments —
(26.8)
(29.2)
Proceeds under the revolving lines of credit 2,280.0
2,820.0
1,102.7
Payments under the revolving lines of credit (2,323.0)
(2,600.0)
(1,131.9)
Payment of dividends and return of capital (481.8)
(25.0)
(22.9)
Proceeds from employee stock purchase plan 5.1
4.3
3.6
Loan to parent from Non-Guarantor 253.1
385.1
490.3
Loan with Hertz affiliate (79.8)
(13.2)
(1.0)
Purchase of noncontrolling interest —
(38.0)
—
Payment of financing costs (9.0)
(35.2)
(81.2)
Net cash provided by (used in) financing activities (139.2)
2,030.8
(810.6)
Net change in cash and cash equivalents during the period 51.5
(540.5)
(1,189.3)
Cash and cash equivalents at beginning of period 24.6
565.1
1,754.4
Cash and cash equivalents at end of period $76.1
$ 24.6
$ 565.1
The accompanying notes are an integral part of these financial statements.
159
Source: HERTZ CORP, 10-K, March 31, 2014 Powered by Morningstar® Document Research℠
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