The following table sets forth the computation of basic and diluted earnings (loss) per common share: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | (In millions, except per share data)(1) | 2026 | | 2025 | | 2026 | | 2025 | | Numerator: | | | | | | | | | Net income (loss) available to Hertz Global common stockholders, basic | $ | 64 | | | $ | (294) | | | $ | (269) | | | $ | (737) | | | | | | | | | | Impact of Exchangeable Notes Due 2029 | (27) | | | — | | | (37) | | | — | | Impact of Exchangeable Notes Due 2030 | (8) | | | — | | | — | | | — | | Impact of Exchangeable First Lien Notes Due 2030 | (5) | | | — | | | (5) | | | — | | | Net income (loss) available to Hertz Global common stockholders, diluted | $ | 23 | | | $ | (294) | | | $ | (312) | | | $ | (737) | | | Denominator: | | | | | | | | | Basic weighted-average common shares outstanding | 317 | | | 309 | | | 315 | | | 308 | | | Dilutive effect of stock options, RSUs and PSUs | 11 | | | — | | | — | | | — | | | | | | | | | | Dilutive effect of Exchangeable Notes Due 2029 | 43 | | | — | | | 42 | | | — | | Dilutive effect of Exchangeable Notes Due 2030 | 46 | | | — | | | — | | | — | | Dilutive effect of Exchangeable First Lien Notes Due 2030 | 1 | | | — | | | 1 | | | — | | | Diluted weighted-average common shares outstanding | 418 | | | 309 | | | 358 | | | 308 | | | Antidilutive: | | | | | | | | | Antidilutive Public Warrants | 83 | | | 83 | | | 83 | | | 83 | | | Antidilutive stock options, RSUs and PSUs | 5 | | | 18 | | | 16 | | | 17 | | Antidilutive shares related to Exchangeable Notes Due 2029 | — | | | 39 | | | — | | | 39 | | Antidilutive shares related to Exchangeable Notes Due 2030 | — | | | — | | | 46 | | | — | | | | | | | | | | | Total antidilutive | 87 | | | 140 | | | 144 | | | 139 | | | Earnings (loss) per common share: | | | | | | | | | Basic | $ | 0.20 | | | $ | (0.95) | | | $ | (0.85) | | | $ | (2.39) | | | Diluted | $ | 0.05 | | | $ | (0.95) | | | $ | (0.87) | | | $ | (2.39) | |
(1) This table is denoted in millions, excluding earnings (loss) per common share. Amounts are calculated from the underlying numbers in thousands, and, as a result, may not agree to the amounts shown in the table when calculated in millions.
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