Hertz 2014 Annual Report Download - page 169

Table of Contents

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(2) Represents the increase in amortization of other intangible assets, depreciation of property and equipment and accretion of revalued liabilities relating to
acquisition accounting.
(3) Represents debt-related charges relating to the amortization of deferred debt financing costs and debt discounts.
(4) Represents expenses incurred under restructuring actions as defined in U.S. GAAP. For further information on restructuring costs, see Note 15
"Restructuring," to the Notes to our consolidated financial statements.
(5) Represents incremental costs incurred directly supporting the Company's business transformation initiatives. Such costs include transition costs incurred in
connection with its business process outsourcing arrangements and incremental costs incurred to facilitate business process re-engineering initiatives that
involve significant organization redesign and extensive operational process changes.
(6) In 2012, primarily represents Dollar Thrifty acquisition related expenses, change in control expenses, 'Day-1' compensation expenses and other adjustments
related to the Dollar Thrifty acquisition, loss on the Advantage divestiture, expenses related to additional required divestitures and costs associated with the
Dollar Thrifty acquisition, pre-acquisition interest and commitment fee expenses for interim financing associated with the Dollar Thrifty acquisition and a gain on
the investment in Dollar Thrifty stock.
(7) Primarily represents Dollar Thrifty integration related expenses.
(8) Represents expense associated with the anticipated HERC spin-off transaction of which $28 million were incurred by HERC and $11 million were incurred by
Corporate.
(9) Represents non-recurring costs incurred in connection with the relocation of the Company's corporate headquarters to Estero, Florida that were not included
in restructuring expenses. Such expenses primarily include duplicate facility rent, certain moving expenses, and other costs that are direct and incremental
due to the relocation.
(10) In 2013, represents premiums paid to redeem the Company's 8.50% Former European Fleet Notes.
(11) In 2013, represents extinguishment of debt for Senior Convertible Notes.
(12) In 2014, represents impairments related to the Company's former corporate headquarters building in New Jersey, HERC revenue earning equipment held for
sale and assets related to a contract termination. In 2013, primarily related to a change in the carrying value of the vehicles subleased to FSNA and its
subsidiary, Simply Wheelz.
(13) In 2014, primarily comprised of a $19 million litigation settlement received in relation to a class action lawsuit filed against an original equipment manufacturer. In
2013, primarily represents cash premiums of $12 million associated with the conversion of the Senior Convertible Notes and $5 million of depreciation expense
related to HERC. In 2012, primarily represents expenses related to the withdrawal from a multiemployer pension plan, litigation accrual and expenses
associated with the impact of Hurricane Sandy.

Changes in the accumulated other comprehensive income (loss) balance by component (net of tax) are as follows:


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
Balance as of January 1, 2014 $ (58)

$ 62

$ (19)

$ 21

$ 6
Other comprehensive (loss) before
reclassification (34)

(57)

—

(14)

(105)
Amounts reclassified from accumulated
other comprehensive income (loss) (9)

—

—

(7)

(16)
Balance as of December 31, 2014 $ (101)

$ 5

$ (19)

$ —

$ (115)




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
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

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



Balance as of January 1, 2013 $ (110)

$ 106

$ (19)

$ —

$ (23)
Other comprehensive income (loss)
before reclassification 52

(45)

—

21

28
Amounts reclassified from accumulated
other comprehensive loss —

1

—

—

1
Balance as of December 31, 2013 $ (58)

$ 62

$ (19)

$ 21

$ 6
157
Source: HERTZ GLOBAL HOLDINGS INC, 10-K, July 16, 2015 Powered by Morningstar® Document Research℠
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