Hertz Global Holdings Inc. plans to file a Form 12b-25 with the Securities and Exchange Commission to obtain additional time to file its annual report on Form 10-K for the year ended Dec. 31, 2013.
Hertz expects to file the Form 10-K within the 15-day extension period, on or before March 18, 2014, says the company.
Hertz recently implemented an enterprise resource planning (ERP) system to improve its financial disclosure controls. As a result of this implementation, it encountered issues during the preparation of its annual financial statements, which impacted its resources and overall system of financial reporting, according to the company.
While preparing its 2013 financial statements, Hertz identified certain adjustments relating to prior periods, which will require the company to revise certain parts of its previously issued financial statements. According to Hertz, it does not expect that these revisions will have a material impact on its previously reported results of operations, financial condition or liquidity.
In conjunction with filing its Form 10-K on or before March 18, Hertz also intends to announce its 2013 fourth quarter and full-year financial results.
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