Hertz 2013 Annual Report Download - page 35

Table of Contents
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Not applicable.
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
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There is no established public trading market for the common stock of Hertz. Hertz Investors, Inc., which is wholly-owned by Hertz Holdings,
owns all of the outstanding common stock of Hertz.
In 2013 and 2012, we paid $482 million and $25 million, respectively, in dividends to our stockholder. The agreements governing our
indebtedness restrict our ability to pay dividends. See “Item 7—Management's Discussion and Analysis of Financial Condition and Results
of Operations—Liquidity and Capital Resources—Financing,” in this Annual Report.
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The following table presents selected consolidated financial information and other data for our business. The selected consolidated statement
of operations data for the years ended December 31, 2013, 2012 and 2011, and the selected consolidated balance sheet data as of
December 31, 2013 and 2012 presented below were derived from our consolidated financial statements and the related notes thereto
included in this Annual Report under the caption “Item 8—Financial Statements and Supplementary Data.”
You should read the following information in conjunction with the section of this Annual Report entitled “Item 7—Management's Discussion
and Analysis of Financial Condition and Results of Operations” and our consolidated financial statements and related notes thereto included
in this Annual Report under the caption “Item 8—Financial Statements and Supplementary Data.” For a description of the revisions to prior
periods, see Note 2 to our Notes to our audited annual consolidated financial statements included in this Annual Report under the caption
“Item 8—Financial Statements and Supplementary Data."
 
 





Revenues:
Worldwide car rental(b) $8,706.9
$7,161.7
$6,940.8
$6,486.2
$5,982.7
Worldwide equipment rental 1,538.0
1,385.4
1,209.5
1,070.1
1,110.9
All other operations(c) 527.0
477.8
149.0
6.2
7.9
Total revenues 10,771.9
9,024.9
8,299.3
7,562.5
7,101.5
Expenses:
Direct operating 5,752.0
4,806.0
4,573.1
4,289.4
4,086.8
Depreciation of revenue earning equipment and
lease charges(d) 2,525.5
2,128.9
1,896.2
1,869.1
1,933.8
Selling, general and administrative 1,021.8
968.0
767.5
664.5
641.8
Interest expense 678.9
597.8
650.3
726.5
653.7
Interest income (11.6)
(4.9)
(5.5)
(12.3)
(16.0)
Other (income) expense, net 66.1
35.5
62.5
—
(48.5)
Total expenses 10,032.7
8,531.3
7,944.1
7,537.2
7,251.6
Income (loss) before income taxes 739.2
493.6
355.2
25.3
(150.1)
(Provision) benefit for taxes on income(e) (345.2)
(222.4)
(137.2)
(30.8)
50.8
Net income (loss) 394.0
271.2
218.0
(5.5)
(99.3)
Noncontrolling interest —
—
(19.6)
(17.4)
(14.7)
Net income (loss) attributable to The Hertz
Corporation and Subsidiaries' common stockholder $394.0
$271.2
$198.4
$(22.9)
$(114.0)
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Source: HERTZ CORP, 10-K, March 31, 2014 Powered by Morningstar® Document Research℠
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