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Financing Obligations | 12 Months Ended
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Dec. 31, 2024
Financing Obligation [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 December 31, 2024 |  | Maturity |  | December 31, 2024 |  | December 31, 2023
Financing obligations | 5.45% |  | 2026-2038 |  | $ | 107 |  |  | $ | 110 |
Unamortized financing issuance costs |  |  |  |  | (2) |  |  | (2) |
Total financing obligations |  |  |  |  | 105 |  |  | 108 |
Less: Current maturities of financing obligations |  |  |  |  | (4) |  |  | (4) |
Financing obligations, net |  |  |  |  | $ | 101 |  |  | $ | 104 |
As of December 31, 2024, future minimum financing payments for the agreements referred to above are as follows (in millions):
2025 | $ | 10 |
2026 | 10 |
2027 | 10 |
2028 | 9 |
2029 | 9 |
Thereafter | 72 |
Total minimum financing obligations payments | 120 |
Obligations subject to non-cash gain on future sale of property | 35 |
Less amount representing interest (at a weighted-average interest rate of 5.45%) | (48) |
Total financing obligations | $ | 107 |

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- Definition Financing Obligation + References No definition available. + Details
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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 + Details
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