Hertz 2014 Annual Report Download - page 188

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Table of Contents












Cash flows from operating activities:
Net income (loss) $ 6
$ 117
$ 320
Adjustments to reconcile net income (loss) to net cash provided by (used in)
operating activities:
Depreciation of revenue earning equipment, net 572
1,186
1,833
Depreciation and amortization, non-fleet assets 84
167
249
Amortization and write-off of deferred financing costs 12
26
42
Amortization and write-off of debt discount 5
11
12
Stock-based compensation charges 8
18
31
Loss on extinguishment of debt —
—
28
Provision for receivables allowance 21
35
59
Deferred taxes on income 30
78
134
Impairment charges and asset write-downs 2
2
42
Other (2)
(4)
(4)
Changes in assets and liabilities, net of effects of acquisition:
Receivables (43)
(229)
(182)
Inventories, prepaid expenses and other assets (19)
(36)
1
Accounts payable 46
89
88
Accrued liabilities 31
5
121
Accrued taxes 3
(6)
40
Public liability and property damage (10)
(15)
(2)
Net cash provided by operating activities 746
1,444
2,812
Cash flows from investing activities:
Net change in restricted cash and cash equivalents 128
153
24
Revenue earning equipment expenditures (3,254)
(6,812)
(9,318)
Proceeds from disposal of revenue earning equipment 2,236
3,738
5,661
Capital asset expenditures, non-fleet (78)
(166)
(250)
Proceeds from disposal of property and equipment 24
45
66
Acquisitions, net of cash acquired (2)
(14)
(14)
Equity method investment —
(213)
(213)
Other investing activities —
(4)
(2)
Net cash used in investing activities (946)
(3,273)
(4,046)
176
Source: HERTZ GLOBAL HOLDINGS INC, 10-K, July 16, 2015 Powered by Morningstar® Document Research℠
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