MARRIOTT INTERNATIONAL INC MD
For the period ended Dec 31, 2024. Filed Feb 11, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Feb 11, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
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 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.