Restructuring

12 Months Ended

Dec. 31, 2019

Restructuring Charges [Abstract]

Restructuring

RESTRUCTURING

We periodically initiate restructuring programs to support new business strategies and to enhance our overall effectiveness and efficiency. In connection with these programs, we will typically incur severance and other exit costs.

We had $135 million, $69 million and $199 million accrued in total restructuring reserves as of December 31, 2019, 2018 and 2017, respectively. New charges, including net revisions to existing restructuring reserves, which primarily relate to the redeployment of displaced colleagues to other positions, were $125 million, $(23) million and $42 million, for the years ended December 31, 2019, 2018 and 2017, respectively. Cumulatively, we recognized $424 million relating to the restructuring programs that were in progress during 2019 and initiated at various dates between 2014 and 2019, the majority of which has been reflected within Corporate & Other.