Hertz announces settlement agreements regarding past legal claims

Hertz announced the settlement of 364 pending claims relating to vehicle theft reporting, bringing resolution to more than 95% of its pending theft reporting claims. The company will pay an aggregate amount of approximately $168M by year-end to resolve these disputes. The company believes it will recover a meaningful portion of the settlement amount from its insurance carriers. Hertz does not expect the resolution of these claims to have a material impact on its capital allocation plans for the balance of 2022 and 2023.