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Financing Obligations

6 Months Ended

Jun. 30, 2023

Leases [Abstract]

Financing Obligations

Financing Obligations

In prior years, Herc entered into sale-leaseback transactions pursuant to which it sold 44 properties located in the U.S. and certain service vehicles. The sale of the properties and service vehicles did not qualify for sale-leaseback accounting; therefore, the book value of the assets remain on the Company's consolidated balance sheet.

The Company's financing obligations consist of the following (in millions):

						Weighted Average Effective Interest Rate at June 30, 2023						Maturities						June 30, 2023						December 31, 2022
Financing obligations						5.30%						2026-2038						$	112					$	114
Unamortized financing issuance costs																		(2)						(2)
Total financing obligations																		110						112
Less: Current maturities of financing obligations																		(4)						(4)
Financing obligations, net																		$	106					$	108

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- References

No definition available.

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Namespace Prefix:	us-gaap_
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- Definition

The entire disclosure for sale leaseback transaction. Includes, but is not limited to, terms and conditions of transaction and gain (loss) from transaction.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 840
-SubTopic 40
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//840-40/tableOfContent

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 842
-SubTopic 40
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//842-40/tableOfContent

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