Restructuring Activities

In 2014, the Company committed to various strategic initiatives to identify best practices and drive efficiency throughout its organization, by reducing headcount, improving processes and consolidating functions (the “T15 restructuring”). During the six months ended June 30, 2015, as part of this process, the Company formally communicated the termination of employment to approximately 250 employees. The costs associated with this initiative primarily represent severance, outplacement services and other costs associated with employee terminations, the majority of which have been or are expected to be settled in cash. As of June 30, 2015, the Company has terminated approximately 100 of these employees. The Company expects further restructuring expense of approximately $5 million related to this initiative to be incurred in 2015, plus approximately $20 million to be incurred in 2015 in connection with other initiatives.

Subsequent to the acquisition of Avis Europe plc, the Company began a restructuring initiative, identifying synergies across the Company, enhancing organizational efficiencies and consolidating and rationalizing processes (the “Avis Europe restructuring”). During the six months ended June 30, 2015, the Company did not record restructuring expense related to this restructuring initiative.

The following tables summarize the changes to our restructuring-related liabilities and identify the amounts recorded within the Company’s reportable segments, and by category, for restructuring expense and corresponding payments:



		Americas			International			Total
Balance as of January 1, 2015		$	4		$	13		$	17
	T15 restructuring expense	2			2			4
	Avis Europe restructuring payment	(1		)	(6		)	(7		)
	T15 restructuring payment	(3		)	(2		)	(5		)
Balance as of June 30, 2015		$	2		$	7		$	9

		Personnel Related			Facility Related			Total
Balance as of January 1, 2015		$	14		$	3		$	17
	T15 restructuring expense	4			—			4
	Avis Europe restructuring payment	(6		)	(1		)	(7		)
	T15 restructuring payment	(5		)	—			(5		)
Balance as of June 30, 2015		$	7		$	2		$	9