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Restructuring (Tables)

6 Months Ended

Jun. 30, 2012

Summary of restructuring charges in consolidated statement of operations

	Three Months Ended June 30,				Six Months Ended June 30,

	2012		2011		2012		2011
By Type:
Termination benefits	$	13.5	$	3.4	$	16.2	$	4.4
Pension and post retirement expense		—		0.3		—		0.3
Consultant costs		0.4		0.2		0.6		0.3
Asset writedowns		—		22.6		2.7		23.3
Facility closure and lease obligation costs		2.2		6.9		6.0		10.0
Other		—		0.3		—		0.1

Total	$	16.1	$	33.7	$	25.5	$	38.4

	Three Months Ended June 30,				Six Months Ended June 30,

	2012		2011		2012		2011
By Caption:
Direct operating	$	7.0	$	30.4	$	14.6	$	34.5
Selling, general and administrative		9.1		3.3		10.9		3.9

Total	$	16.1	$	33.7	$	25.5	$	38.4

	Three Months Ended June 30,				Six Months Ended June 30,

	2012		2011		2012		2011
By Segment:
Car rental	$	11.8	$	3.5	$	17.0	$	4.5
Equipment rental		2.5		29.8		6.7		33.6
Other reconciling items		1.8		0.4		1.8		0.3

Total	$	16.1	$	33.7	$	25.5	$	38.4

Schedule of activity affecting the restructuring accrual

	Termination Benefits			Pension and Post Retirement Expense		Consultant Costs			Other			Total

Balance as of January 1, 2012	$	9.1		$	0.2	$	0.6		$	11.7		$	21.6
Charges incurred		16.2			—		0.6			8.7			25.5
Cash payments		(8.4	)		—		(0.7	)		(1.8	)		(10.9	)
Other⁽¹⁾		0.2			—		(0.1	)		(8.8	)		(8.7	)

Balance as of June 30, 2012	$	17.1		$	0.2	$	0.4		$	9.8		$	27.5

(1): Consists of decreases of $6.2 million for facility closures and $2.7 million for asset writedowns, partly offset by an increase of $0.2 million due to foreign currency translation.

- Definition

Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost.

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- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References+ Details