Exit, Disposal and Other Restructuring Activities (Tables)

3 Months Ended

Sep. 28, 2013

Schedule of Restructuring and Related Costs [Table Text Block]

The following is a summary of the (income) expense associated with ongoing actions, which also highlights where the costs are reflected in the Consolidated Statements of Income:



	Quarter Ended
(In millions)	September 28, 2013		September 29, 2012
Cost of Sales	$	—	$	1
Selling, general and administrative expenses	14		8
Exit activities, asset and business dispositions	3		(3		)
Decrease in income from continuing operations before income taxes	17		6

Impact Of Restructuring Actions On Corporate Business Segments And Unallocated Corporate Expenses

The impact of these actions on the company’s business segments and general corporate expense is summarized as follows:



	Quarter Ended
(In millions)	September 28, 2013		September 29, 2012
Retail	$	2	$	(3	)
Foodservice/Other	1		(2		)
Decrease (Increase) in operating segment income	3		(5		)
Increase in general corporate expenses	14		11
Total	$	17	$	6

Net Charges For Exit Disposal And Transformation Actions And Related Reserve Status

The following table summarizes the activity for the first quarter of 2014 related to exit, disposal and restructuring related actions and the status of the related accruals as of September 28, 2013. The 2014 exit, disposal and restructuring related actions include recognized third party consulting costs related to cost saving and efficiency process and IT initiatives and recognized severance charges associated with planned employee terminations. The accrued amounts remaining represent the estimated cash expenditures necessary to satisfy remaining obligations and are expected to be paid in the next 12 months.



(In millions)	Employee termination and other benefits			IT and other costs			Non-cancellable leases/ Contractual obligations			Total
Accrued Costs as of June 29, 2013	$	10		$	5		$	23		$	38
Exit, disposal and other costs recognized during 2014	3			14			—			17
Cash payments	(3		)	(10		)	(8		)	(21		)
Accrued costs as of September 28, 2013	$	10		$	9		$	15		$	34

- 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