Restructuring and Other Related Charges

12 Months Ended

Dec. 31, 2023

Restructuring and Related Activities [Abstract]

During second quarter 2022, we initiated a restructuring plan to focus on consolidating our global operations by designing new processes and implementing new systems (“Cost Optimization”). As of December 31, 2023, we formally communicated the termination of employment to approximately 400 employees as part of this process, the majority of which have been terminated. We expect this initiative to be completed in 2024.

During first quarter 2021, we initiated a global restructuring plan to focus on cost discipline by reviewing headcounts, facilities and contractor agreements. We transformed our business as we exited the COVID-19 crisis by controlling fixed costs and matching variable costs to demand (“T21”). This initiative is complete.

During first quarter 2020, we initiated a global restructuring plan to reduce operating costs, such as headcount and facilities, due to declining reservations and revenue resulting from the COVID-19 outbreak (“2020 Optimization”). This initiative is complete.

During third quarter 2019, we initiated a restructuring plan to exit our operations in Brazil by closing rental facilities, disposing of assets and terminating personnel (“Brazil”). This initiative is complete.

During first quarter 2019, we initiated a restructuring plan to drive global efficiency by improving processes and consolidating functions, and to create new objectives and strategies for our truck rental operations in the United States by reducing headcount, large vehicles and rental locations (“T19”). This initiative is complete.

The following tables summarize the change to our restructuring-related liabilities and identifies the amounts recorded within our reporting segments for restructuring charges and corresponding payments and utilizations:


	Personnel Related		Facility Related		Other		Total
Balance at January 1, 2021	$	4	$	2	$	3	$	9
Restructuring expense:
T21	26		4		2		32
T19	—		—		(2)		(2)
Restructuring payment/utilization:
T21	(17)		(4)		(4)		(25)
2020 Optimization	(5)		—		—		(5)
T19	(1)		—		2		1
Balance as of December 31, 2021	$	7	$	2	$	1	$	10
Restructuring expense:
Cost Optimization	9		—		—		9
T21	3		—		—		3
Brazil	—		—		1		1
Restructuring payment/utilization:
Cost Optimization	(6)		—		(1)		(7)
T21	(8)		(1)		—		(9)
2020 Optimization	(1)		—		—		(1)
Brazil	—		—		(1)		(1)
T19	—		(1)		—		(1)
Balance as of December 31, 2022	$	4	$	—	$	—	$	4
Restructuring expense:
Cost Optimization	8		—		2		10

Brazil	—		—		1		1
Restructuring payment/utilization:
Cost Optimization	(8)		—		(2)		(10)


Brazil	—		—		(1)		(1)

Balance as of December 31, 2023	$	4	$	—	$	—	$	4


	Americas		International		Total
Balance at January 1, 2021	$	3	$	6	$	9
Restructuring expense:
T21	5		27		32
T19	(2)		—		(2)
Restructuring payment/utilization:
T21	(4)		(21)		(25)
2020 Optimization	(2)		(3)		(5)
T19	2		(1)		1
Balance as of December 31, 2021	2		8		10
Restructuring expense:
Cost Optimization	2		7		9
T21	1		2		3
Brazil	1		—		1
Restructuring payment/utilization:
Cost Optimization	(2)		(5)		(7)
T21	(2)		(7)		(9)
2020 Optimization	—		(1)		(1)
Brazil	(1)		—		(1)
T19	—		(1)		(1)
Balance as of December 31, 2022	1		3		4
Restructuring expense:
Cost Optimization	7		3		10

Brazil	1		—		1
Restructuring payment/utilization:
Cost Optimization	(6)		(4)		(10)


Brazil	(1)		—		(1)

Balance as of December 31, 2023	$	2	$	2	$	4

Other Related Charges

Limited Voluntary Opportunity Plans (“LVOP”)

During the second quarter of 2021, our operations in our International segment offered a voluntary termination program to certain employees in field operations and general and administrative functions for a limited time. These employees, if qualified, elected resignation from employment in return for enhanced severance benefits to be settled in cash. During the year ended December 31, 2021, we recorded other related charges of approximately $17 million in connection with the LVOP. As of December 31, 2021, approximately 130 employees elected to participate in the plan and the participants have been terminated.

Officer Separation Costs

In April 2022, we announced the departure of Veresh Sita as Executive Vice President and Chief Digital and Innovation Officer effective May 13, 2022. In connection with Mr. Sita’s separation, we recorded other related charges of approximately $1 million, inclusive of accelerated stock-based compensation expense, for the year ended December 31, 2022.