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7		-==== BUSINESS ====
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9	9	Hertz Holdings was incorporated in Delaware in 2015 to serve as the top-level holding company for Rental Car Intermediate Holdings, LLC, which wholly owns Hertz, Hertz Global's primary operating company. Hertz was incorporated in Delaware in 1967 and is a successor to corporations that have been engaged in the vehicle rental and leasing business since 1918.
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11	11	The company operate its vehicle rental business globally through the Hertz, Dollar and Thrifty brands from approximately 10,200 corporate and franchisee locations in North America, Europe, Latin America, Africa, Asia, Australia, The Caribbean, the Middle East and New Zealand. Hertz Global Holdings is one of the largest worldwide airport general use vehicle rental companies and its Hertz brand name is one of the most recognized in the world, signifying leadership in quality rental services and products. Hertz Global Holdings has an extensive network of rental locations in the U.S. and in all major European markets. The company believe that the company maintain one of the leading airport vehicle rental brand market shares, by overall reported revenues, in the U.S. and at major airports in Europe where data regarding vehicle rental concessionaire activity is available. Hertz Global Holdings is a leading provider of comprehensive, integrated vehicle leasing and fleet management solutions through its Donlen subsidiary.
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13		-==== BUSINESS SEGMENTS ====
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15	15	Hertz Global Holdings has identified three reportable segments, which are organized based on the products and services provided by its operating segments and the geographic areas in which its operating segments conduct business, as follows:
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29	29	The company's U.S. and International RAC segments generated $6.0 billion and $2.2 billion, respectively, in revenues during the year ended December 31, 2017.
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31		-==== Markets and Competition ====
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33	33	Competition among vehicle rental industry participants is intense and is primarily based on price, vehicle availability and quality, service, reliability, rental locations, product innovation, competition from online travel agents and vehicle rental brokers. The company believe that the prominence and service reputation of the Hertz, Dollar and Thrifty brands, its extensive worldwide ownership of vehicle rental operations and its commitment to innovation and service provide it with a strong competitive foundation.
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