赫兹租车 2025年季度报告

If an emerging growth company, indicate by check mark if the registrant haselected not to use the extended transition period for complying with any new orrevised financial accounting standards provided pursuant to Section 13(a) of☐ ClassShares Outstanding as ofMay 5, 2025 ITEM 6.Exhibits PART I. FINANCIAL INFORMATIONCONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)IndexHertz Global Holdings, Inc. and SubsidiariesCondensed Consolidated Balance Sheets as ofMarch31, 2025and December 31, 2024Condensed Consolidated Statements of Operations for the ThreeMonths EndedMarch31, 2025and 2024 Condensed Consolidated Statements of Comprehensive Income (Loss) for the ThreeMonths EndedMarch31,2025and 2024Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) for the Three Months EndedMarch 31, 2025 and 2024Condensed Consolidated Statements of Cash Flows for theThreeMonths EndedMarch31, 2025and 2024The Hertz Corporation and SubsidiariesCondensed Consolidated Balance Sheets as ofMarch31, 2025and December 31, 2024Condensed Consolidated Statements of Operations for the ThreeMonths EndedMarch31, 2025and 2024Condensed Consolidated Statements of Comprehensive Income (Loss) for the ThreeMonths EndedMarch31,2025and 2024 Three Months EndedMarch 31, Effect of foreign currency exchange rate changes on cash and cash equivalents andrestricted cash and cash equivalents equivalents during the period(111)Cash and cash equivalents and restricted cash and cash equivalents at beginning of1,132Cash and cash equivalents and restricted cash and cash equivalents at end of$1,021$ Cash paid during the period for:Interest, net of amounts capitalized:Vehicle$121$ Supplemental disclosures of non-cash information:Purchases of revenue earning vehicles included in accounts payable, net of Sales of revenue earning vehicles included in vehicle receivablesPurchases of non-vehicle capital assets included in accounts payable Revenue earning vehicles and non-vehicle capital assets acquired throughfinance lease15 Note 1—Background "Company"), Hertz Global's primary operating company. Hertz was incorporated in Delaware in 1967 and is a successor tocorporations that have been engaged in the vehicle rental and leasing business since 1918. Note 2—Basis of Presentation and Recently Issued Accounting Pronouncements Basis of Presentation therefore, disclosures that relate to activities of Hertz also apply to Hertz Global. In the sections that combine disclosure ofHertz Global and Hertz, this report refers to actions as being actions of the Company, or Hertz Global, which is appropriate Global and Hertz are named specifically for their individual disclosures and any significant differences between the operationsand results of Hertz Global and Hertz are separately disclosed and explained. of the results for the interim periods presented. Interim results are not necessarily indicative of results for a full year. TheCompany's vehicle rental operations are typically a seasonal business, with decreased levels of business in the winter months and heightened activity during the spring and summer months for the majority of countries where the Company generatesThepreparation of financial statements in conformity with U.S.GAAP requires management to make estimates andassumptions that affect the amounts reported in the financial statements and footnotes. Actual results could differ materially statements at that date but does not include all disclosures required by U.S. GAAP. The information included in this QuarterlyReport on Form10-Q should be read in conjunction with information included in the Company's Annual Report on Form 10-K February 18, 2025. guidance is effective for annual periods beginning after December 15, 2026, and interim reporting periods beginning afterDecember 15, 2027 using either a prospective or retrospective transition method. Early adoption is permitted. The Company is The components of revenue earning vehicles, net are as follows: March 31,2025December 31,2024Revenue earning vehicles$12,692$Less accumulated depreciation(986)11,706Revenue earning vehicles held for sale, net447Revenue earning vehicles, net$12,153$(1)(2) Depreciation of revenue earning vehicles$466$(Gain) loss on disposal of revenue earning vehicles59(1)(2) Vehicle Debt - OtherEuropean ABS4.24%Floating3/2026891Hertz Canadian Securitization4.73%Floating4/2026287(4)(4) Australian Securitization5.74%Floating6/2026New Zealand RCF6.73%Floating8/2026(4) U.K. Financing Facility7.10%Floating4/2025 - 11/2028 Other Vehicle Debt6.66%Floating4/2025 - 7/20281091,702(5) Total Vehicle Debt (1)The effective interest rate of the Exchangeable Notes, inclusive of the bifurcated Exchange Features, as defined and disclosed in Note 10, "Fair ValueMeasurements," and PIK interest, was approximately15.3% and15.0% as of March31, 2025 and December31, 2024, respectively. (2)Includes approximately $9million of unamortized debt issuance costs associated with t