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Restructuring charges (Tables)

3 Months Ended

Mar. 31, 2012

Operational Excellence Initiatives 2011

The following table presents the activity in the restructuring reserve related to the operational excellence initiatives through March 31, 2012.


Operational excellence initiatives 2011 – restructuring charge reserve activity (in millions)	Severance			Other			Total
Original restructuring charge	$	78		$	29		$	107
Utilization		(4	)		(29	)		(33	)
Balance at Dec. 31, 2011		74			-			74
Additional charges (recovery)		(2	)		-			(2	)
Utilization		(10	)		-			(10	)
Balance at March 31, 2012	$	62		$	-		$	62

Restructuring Charges by Business Segment

The table below presents the restructuring charge if it had been allocated by business.


Operational excellence initiatives 2011 – restructuring charge (recovery) by business						Total
(in millions)	1Q12			4Q11		charges since inception
Investment Management	$	-		$	17	$	17
Investment Services		(2	)		41		39
Other segment (including Business Partners)		-			49		49
Total restructuring charge (recovery)	$	(2	)	$	107	$	105

Global Location Strategy 2009

Activity in Restructuring Reserve

The following table presents the activity in the restructuring reserve related to the global location strategy through March 31, 2012.


Global location strategy 2009 – restructuring charge reserve activity (in millions)	Severance			Asset write-offs/ other			Total
Original restructuring charge	$	102		$	37		$	139
Additional charges		14			6			20
Utilization		(89	)		(32	)		(121	)
Balance at Dec. 31, 2011	$	27		$	11		$	38
Additional charges (recovery)		(7	)		-			(7	)
Utilization		(7	)		-			(7	)
Balance at March 31, 2012	$	13		$	11		$	24

Restructuring Charges by Business Segment

The table below presents the restructuring charge if it had been allocated by business.


Global location strategy 2009 – restructuring charge (recovery) by business
(in millions)	1Q12			4Q11			1Q11			Total charges since inception
Investment Management	$	(1	)	$	-		$	-		$	54
Investment Services		(7	)		(1	)		(6	)		69
Other segment (including Business Partners)		1			1			-			29
Total restructuring charge (recovery)	$	(7	)	$	-		$	(6	)	$	152

- Definition

Tabular disclosure of restructuring and related costs by type of restructuring including the description of the restructuring costs, such as the expected cost; the costs incurred during the period; the cumulative costs incurred as of the balance sheet date; the income statement caption within which the restructuring charges recognized for the period are included; and changes to an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost.

+ References+ Details

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

+ References+ Details