Restructuring

In January 2015, at a regular meeting of our Board, our Board approved a plan to implement a strategic reduction of our existing global workforce. As a result, we reduced our workforce globally. The reduction was completed in the first half of 2015. The restructuring costs are aggregated in general and administrative expenses in the condensed consolidated statement of income.

No restructuring costs were recognized during the three months ended September 30, 2015 and 2014. $62 million restructuring costs were recognized during the nine months ended September 30, 2015 and no costs were recognized in the nine months ended September 30, 2014.

The following table summarizes the restructuring reserve activity during the nine months ended September 30, 2015:



	Employee Severance and Benefits
	(In millions)
Accrued liability as of January 1, 2015	$	—
Charges (benefit)	62
Payments	(59		)
Accrued liability as of September 30, 2015	$	3