Note 2 - Restructuring, Impairment and Other Charges

12 Months Ended

Dec. 31, 2015

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure [Text Block]

2.      Restructuring, Impairment and Other Charges

2015 Activity

For the year ended December 31, 2015, we did not record significant restructuring, impairment and other charges or reversals.  Cash expenditures for restructuring activities were $40 million. 

2014 Activity

For the year ended December 31, 2014, we recorded charges of $71 million for workforce reductions, asset disposals and write-offs, and exit costs for restructuring activities with total cash expenditures of approximately $39 million.

The following table summarizes the restructuring, impairment and other charges as of and for the year ended December 31, 2014 (in millions):

	Reserve at January 1, 2014		Net Charges/ Reversals		Non cash adjustments		Cash payments		Reserve at December 31, 2014
Restructuring:
Employee related costs	$	36	$	48	$	(9)	$	(31)	$	44
Other charges (credits)		8		1		(1)		(8)
Total restructuring activity	$	44	$	49	$	(10)	$	(39)	$	44
Impairment charges and disposal of long-lived assets:			$	22
Total restructuring, impairment and other charges			$	71

Cash payments for employee-related and exit activity related to the 2014 restructuring actions were substantially completed in 2015.

2013 Activity

To better align our 2014 cost position in several of our businesses, Corning implemented a global restructuring plan within several of our segments in the fourth quarter of 2013, consisting of workforce reductions, asset disposals and write-offs, and exit costs.  We recorded charges of $67 million, before tax, associated with these actions, with cash expenditures of $35 million.

The following table summarizes the restructuring, impairment and other charges as of and for the year ended December 31, 2013 (in millions):

	Reserve at January 1, 2013		Net Charges/ Reversals		Non cash adjustments		Cash payments		Reserve at December 31, 2013
Restructuring:
Employee related costs	$	38	$	34	$	(4)	$	(32)	$	36
Other charges (credits)		4		7				(3)		8
Total restructuring activity	$	42	$	41	$	(4)	$	(35)	$	44
Impairment charges and disposal of long-lived assets:			$	26
Total restructuring, impairment and other charges			$	67

Cash payments for employee-related and exit activity related to the 2013 corporate-wide restructuring plan were substantially completed in 2014.