Restructuring and Other Related Charges

6 Months Ended

Jun. 30, 2024

Restructuring and Related Activities [Abstract]

During the first quarter of 2024, we initiated a global restructuring plan to further right size our operations (“Global Rightsizing”). The costs associated with this initiative are primarily related to the operational scaling of processes, locations, and lines of business. We expect further restructuring expense of approximately $25 million related to this initiative to be incurred this year.

During the second quarter of 2022, we initiated a restructuring plan to focus on consolidating our global operations by designing new processes and implementing new systems (“Cost Optimization”). We expect this initiative to be completed this year.

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		Other (a)		Total
Balance as of January 1, 2024	$	4	$	—	$	4

Restructuring expense:
Global Rightsizing	4		12		16
Cost Optimization	—		1		1



Restructuring payments and utilization:
Global Rightsizing	(4)		(2)		(6)
Cost Optimization	(1)		(1)		(2)



Balance as of June 30, 2024	$	3	$	10	$	13

________

(a) Includes expenses primarily related to the disposition of vehicles


	Americas		International		Total
Balance as of January 1, 2024	$	2	$	2	$	4

Restructuring expense:
Global Rightsizing	14		2		16
Cost Optimization	1		—		1



Restructuring payments and utilization:
Global Rightsizing	(4)		(2)		(6)
Cost Optimization	(1)		(1)		(2)



Balance as of June 30, 2024	$	12	$	1	$	13