MARRIOTT INTERNATIONAL INC MD
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
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FY2024 · Filed Feb 11, 2025
Contents
Restructuring Charges
NOTE 16. RESTRUCTURING CHARGES
In 2024, we launched a comprehensive initiative to enhance our effectiveness and efficiency across the Company.
In connection with these efforts, in 2024, we recorded $68 million of charges for employee termination benefits, of which we present $37 million in the “Restructuring and merger-related charges” caption and $31 million in the “Reimbursed expenses” caption of our Income Statements. We substantially completed this initiative as of year-end 2024.
The following table presents our restructuring reserve activity during the period:
| (in millions) | Employee termination benefits |
|---|---|
| Balance at December 31, 2023 | $— |
| Charges | 68 |
| Cash payments | (8) |
| Other | (4) |
| Balance at December 31, 2024, classified in “Accrued expenses and other” | $56 |
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