Hertz 2014 Annual Report Download - page 102

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Table of Contents









Cash flows from operating activities
Net income (loss) $ (82)
$ 302
$ 184
Adjustments to reconcile net income (loss) to net cash provided by operating
activities:
Depreciation of revenue earning equipment, net 2,954
2,452
2,048
Depreciation and amortization, non-fleet assets 366
339
261
Amortization and write-off of deferred financing costs 57
56
54
Amortization and write-off of debt discount (premium) (11)
12
29
Stock-based compensation charges 11
35
30
Loss on disposal of business —
4
46
Loss on extinguishment of debt 1
35
—
Provision for receivables allowance 62
71
58
Deferred taxes on income 6
227
102
Impairment charges and asset write-downs 47
40
—
Other (19)
(6)
(10)
Changes in assets and liabilities, net of effects of acquisition:
Receivables (90)
(53)
(125)
Inventories, prepaid expenses and other assets (64)
(29)
(23)
Accounts payable 23
54
52
Accrued liabilities 139
29
(19)
Accrued taxes (4)
26
30
Public liability and property damage 56
(1)
(4)
Net cash provided by operating activities 3,452
3,593
2,713
Cash flows from investing activities
Net change in restricted cash and cash equivalents 283
(315)
(237)
Revenue earning equipment expenditures (11,289)
(10,289)
(9,611)
Proceeds from disposal of revenue earning equipment 8,209
7,256
7,123
Capital asset expenditures, non-fleet (374)
(327)
(298)
Proceeds from disposal of property and equipment 93
81
125
Acquisitions, net of cash acquired (75)
(41)
(1,905)
Proceeds from disposal of business —
—
84
Equity method investment (30)
(213)
—
Other investing activities —
(2)
(2)
Net cash used in investing activities (3,183)
(3,850)
(4,721)
The accompanying notes are an integral part of these financial statements.
90
Source: HERTZ GLOBAL HOLDINGS INC, 10-K, July 16, 2015 Powered by Morningstar® Document Research℠
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