v3.25.0.1
Accrued Expenses and Other Current Liabilities
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
Accrued Expenses and Other Current Liabilities

NOTE 7: ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES

Accrued expenses and other current liabilities consisted of the following as of the dates presented:

 

 

December 31, 2024

 

 

December 31, 2023

 

 

 

(in millions)

 

Accrued salary, bonus, and other employee-related benefits

 

$

74

 

 

$

70

 

Accrued marketing costs

 

 

67

 

 

 

67

 

Interest payable (1)

 

 

1

 

 

 

17

 

Finance lease liability - current portion (2)

 

 

7

 

 

 

6

 

Operating lease liabilities - current portion (2)

 

 

6

 

 

 

10

 

Non-income taxes payable (3)

 

 

18

 

 

 

16

 

Accrued legal contingencies (4)

 

 

10

 

 

 

—

 

Restructuring and other related reorganization costs (5)

 

 

5

 

 

 

13

 

Other

 

 

61

 

 

 

53

 

 Total

 

$

249

 

 

$

252

 

 

(1)
Amount for the year ended December 31, 2023 relates primarily to interest accrued on our 2025 Senior Notes. Refer to “Note 8: Debt” for further information.
(2)
Refer to “Note 5: Leases” for further information regarding our lease obligations.
(3)
Amount relates primarily to digital service taxes.
(4)
Refer to “Note 11: Commitments and Contingencies” for further information.
(5)
The following table summarizes our restructuring and other related reorganization costs for the periods presented:

 

 

Employee Severance and Benefits

 

 

Other (2)

 

 

Total

 

 

 

(in millions)

 

Accrued liability as of December 31, 2022

 

$

—

 

 

$

—

 

 

$

—

 

Charges (1)

 

 

22

 

 

 

—

 

 

 

22

 

Payments

 

 

(9

)

 

 

—

 

 

 

(9

)

Accrued liability as of December 31, 2023

 

$

13

 

 

$

—

 

 

$

13

 

Charges (2)

 

 

3

 

 

 

18

 

 

 

21

 

Payments

 

 

(11

)

 

 

(18

)

 

 

(29

)

Accrued liability as of December 31, 2024

 

$

5

 

 

$

—

 

 

$

5

 
(1)
During the third quarter of 2023, the Company approved and subsequently initiated a set of actions across its businesses in order to reduce its cost structure, improve operational efficiencies, and realign its workforce with its strategic initiatives. These actions taken by the Company resulted in reduced global headcount. As a result, the Company incurred estimated pre-tax restructuring and other related reorganization costs of $22 million during the year ended December 31, 2023, consisting of employee severance and related benefits. We expect the majority of remaining unpaid costs as of December 31, 2024 to be disbursed during the first quarter of 2025.
During the fourth quarter of 2024, the Company approved and subsequently initiated a set of actions across its businesses in order to reduce its cost structure, improve operational efficiencies, and realign its workforce with its strategic initiatives. As a result, the Company incurred and paid a one-time contract termination fee to a third-party professional services firm of $18 million within its Brand Tripadvisor segment. In addition, these actions also included estimated pre-tax restructuring and other related reorganization costs of $3 million during the three months ended December 31, 2024, which consisted of employee severance and related benefits, and expect to be paid during the first quarter of 2025.