Hertz 2013 Annual Report Download - page 164

Table of Contents



The accompanying condensed financial statements include only the accounts of The Hertz Corporation, or the “Company.” Investments in
the Company's subsidiaries are accounted for under the equity method. These parent company financial statements have been prepared in
accordance with Rule 12-04 of Regulation S-X, as restricted net assets of the Company's subsidiaries exceed 25% of the Company's
consolidated net assets as of December 31, 2013.
Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles
generally accepted in the United States of America have been condensed or omitted since this information is included in the Company's
annual consolidated financial statements included in this Annual Report under the caption “Item 8—Financial Statements and
Supplementary Data.”
During the fourth quarter of 2013, we revised our previously issued consolidated financial statements as more fully described in Note 2
—Summary of Significant Accounting Policies and Note 18—Guarantor and Non-Guarantor Condensed Consolidating Financial Statements
included in this Annual Report under the caption “Item 8—Financial Statements and Supplementary Data.” Management has concluded that
the impact on the Parent Company financial statements as a result of the revision is not material.

The following table details the contractual cash obligations of the Company for debt, related interest payable and tax liability for uncertain tax
positions and related interest as of December 31, 2013 (in millions of dollars):







Debt $6,360.0
$349.4
$21.3
$21.3
$21.3
$2,969.3
$2,977.4
Interest 1,970.8
341.1
337.9
342.7
363.3
261.2
324.6
Uncertain tax positions
liability and interest 1.2
1.2
—
—
—
—
—
Total $8,332.0
$691.7
$359.2
$364.0
$384.6
$3,230.5
$3,302.0
The following table details the contractual cash obligations of the Company for operating leases and purchase obligations as of December 31,
2013 (in millions of dollars):









Operating leases and concession agreements $1,603.0
$309.1
$428.1
$270.8
$595.0
Purchase obligations 3,840.5
3,795.3
43.5
1.7
—
Total $5,443.5
$4,104.4
$471.6
$272.5
$595.0

The following table details distributions of equity received by the Company from its subsidiaries during 2013, 2012 and 2011 (in millions of
dollars):



Distribution of Equity $2,233.4
$3,981.6
$3,143.4
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Source: HERTZ CORP, 10-K, March 31, 2014 Powered by Morningstar® Document Research℠
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