v3.25.2
Financing Obligations
6 Months Ended
Jun. 30, 2025
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, 2025
MaturitiesJune 30, 2025December 31, 2024
Financing obligations5.45%2026-2038$105 $107 
Unamortized financing issuance costs
(2)(2)
Total financing obligations103 105 
Less: Current maturities of financing obligations(5)(4)
Financing obligations, net$98 $101