Restructuring and Other Related Charges

3 Months Ended

Mar. 31, 2026

Restructuring and Related Activities [Abstract]

In 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 $24 million related to this initiative to be incurred this year.

The following tables summarize the changes to our restructuring-related liabilities and identify the amounts recorded within our reportable segments for restructuring charges and corresponding payments and utilizations:


	Personnel Related		Facility Related		Other		Total
Balance as of January 1, 2026	$	19	$	3	$	29	$	51

Restructuring expense:
Global Rightsizing (a)	18		1		9		28




Restructuring payment/utilization:
Global Rightsizing (a)	(14)		(1)		(31)		(46)




Balance as of March 31, 2026	$	23	$	3	$	7	$	33

__________

(a)Other includes the disposition of vehicles.


	Americas		International		Total
Balance as of January 1, 2026	$	—	$	51	$	51

Restructuring expense:
Global Rightsizing	12		16		28




Restructuring payment/utilization:
Global Rightsizing	(8)		(38)		(46)




Balance as of March 31, 2026	$	4	$	29	$	33

Other Related Charges

Officer Separation Costs

In February 2025, we announced that Joseph A. Ferraro, President and Chief Executive Officer, would transition to a Board Advisor role effective June 30, 2025. In connection with Mr. Ferraro’s departure, we recorded minimal other related charges for the three months ended March 31, 2026, and expect further expense of less than $1 million to be incurred this year.

Limited Voluntary Opportunity Plans (“LVOP”)

During the first quarter of 2026, our Americas 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. For the three months ended March 31, 2026, we recorded other related charges of approximately $7 million in connection with the LVOP. As of March 31, 2026, approximately 200 employees elected to participate in the plan and the participants have been terminated.