Hertz posted a $121.1 million adjusted net income for the last three months of 2013,

down from $139.1 million for the 2012 fourth quarter. U.S. rental car revenue rose 14 percent to $1.48 billion, with transaction days up 16 percent year over year. Those increases were "largely due" to the Dollar Thrifty acquisition, according to the company. Average fourth-quarter rental rate per day in the United States fell 1.4 percent year over year to $44.91, while average international rental rate was roughly flat at $52.49. Meanwhile, Hertz on Tuesday disclosed plans to divide the business into two publicly traded companies: one focusing on the equipment rental business and the other on rental car.