XML 59 R13.htm IDEA: XBRL DOCUMENT v2.4.0.8
Restructuring Charges
9 Months Ended
Sep. 30, 2014
Restructuring and Related Activities [Abstract]  
Restructuring Charges
Restructuring Charges
Closed Restructuring Program
Between 2008 and 2011 and in recognition of the very challenging economic environment, we were intensely focused on reducing our operating costs. During this period, we reduced our employee headcount from approximately 10,900 at January 1, 2008 (the beginning of the restructuring period) to approximately 7,500 at December 31, 2011 (the end of the restructuring period). Additionally, we reduced our branch network from 697 locations at January 1, 2008 to 529 locations at December 31, 2011.
RSC Merger Related Restructuring Program
In the second quarter of 2012, we initiated a restructuring program related to severance costs and branch closure charges associated with the April 2012 acquisition of RSC. The branch closure charges principally relate to continuing lease obligations at vacant facilities closed subsequent to the RSC acquisition. As of September 30, 2014, our employee headcount is approximately 12,500 and our branch network has 882 rental locations. We do not expect to incur significant additional charges in connection with the restructuring, which was complete as of June 30, 2013 (the end of the restructuring period).
The table below provides certain information concerning our restructuring charges for the nine months ended September 30, 2014:
 
 
 
Reserve Balance at
 
Charged to
Costs and
Expenses (1)
 
Payments
and Other
 
Reserve Balance at
Description 
 
December 31, 2013
 
 
 
September 30, 2014
Closed Restructuring Program
 
 
 
 
 
 
 
 
Branch closure charges
 
$
13

 
$
(1
)
 
$
(3
)
 
$
9

Severance costs
 

 

 

 

Total
 
$
13

 
$
(1
)
 
$
(3
)
 
$
9

RSC Merger Related Restructuring Program
 
 
 
 
 
 
 
 
Branch closure charges
 
$
20

 
$
(1
)
 
$
(6
)
 
$
13

Severance costs
 
2

 

 
(2
)
 

Total
 
$
22

 
$
(1
)
 
$
(8
)
 
$
13

Total
 
 
 
 
 
 
 
 
Branch closure charges
 
$
33

 
$
(2
)
 
$
(9
)
 
$
22

Severance costs
 
2

 

 
(2
)
 

Total
 
$
35

 
$
(2
)
 
$
(11
)
 
$
22

 
_________________
(1)
Reflected in our condensed consolidated statements of income as “Restructuring charge.” The income for the nine months ended September 30, 2014 primarily reflects buyouts or settlements of real estate leases for less than the recognized reserves. These charges are not allocated to our reportable segments.