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 consolidated statement of income.

$62 million of restructuring costs were recognized during the year ended December 31, 2015 and no costs were recognized in the year ended December 31, 2014.

The following table summarizes the restructuring reserve activity during the year ended December 31, 2015:



	Employee Severance and Benefits
	(In millions)
Accrued liability as of January 1, 2015	$	—
Charges (benefit)	62
Payments	(60		)
Accrued liability as of December 31, 2015	$	2