Restructuring And Other Charges

3 Months Ended

Mar. 31, 2021

Restructuring And Other Charges [Abstract]

Restructuring And Other Charges

(11) Restructuring Costs and Other Charges:

As of March 31, 2021, restructuring related liabilities of $3 million pertaining to employee separation charges are included in “Other current liabilities” in our consolidated balance sheet.

During the three-month period ended March 31, 2021, we incurred $2 million in expenses consisting of severance and employee costs resulting from workforce reductions.

During the three-month period ended March 31, 2020, we incurred $48 million in expenses consisting of $8 million directly associated with transformation initiatives, $2 million of severance and employee costs resulting from workforce reductions, and $38 million of consulting and advisory costs related to our balance sheet restructuring activities through the Petition Date.

Effective with the Petition date, these other charges consisting of consulting and advisory costs incurred are recorded in Reorganization items, net in the consolidated statement of operations.

The following is a summary of the changes in the liabilities established for restructuring and other related programs:

($ in millions)
Balance at January 1, 2021	$	2
Severance expense		2
Cash payments during the period		(1)
Balance at March 31, 2021	$	3