2014 Organization Restructuring

12 Months Ended

Dec. 31, 2018

2014 Organization Restructuring

Restructuring Cost and Reserve

Restructuring and Related Activities Disclosure

2014 Organization Restructuring

In 2014, we initiated a restructuring plan in order to improve organization efficiency and offset the impact of stranded overhead costs resulting from the spin-off of our health care business. The restructuring was intended to improve our underlying profitability and increase our flexibility to invest in targeted growth initiatives, brand building and other capabilities critical to delivering future growth. The restructuring impacted all of our business segments and our organizations in all major geographies.

The restructuring actions were completed by December 31, 2016, with total costs, primarily severance, of $164 after tax ($231 pre-tax). Charges were $27 after tax ($35 pre-tax) for the year ended December 31, 2016. Cash payments of $60 were made during 2016 related to the restructuring.