Integration and Restructuring Costs

12 Months Ended

Dec. 31, 2011

The Company recorded total restructuring costs of $51 million in 2011, the majority of which related to severance.

Details of the activity from January 1, 2010 through December 31, 2011 regarding restructuring activities, which includes liabilities from actions prior to 2011, are as follows:



(In millions of dollars)	Liability at 1/1/10		Amounts Accrued		Cash Paid			Liability at 12/31/10		Amounts Accrued		Cash Paid			Other ^(a)			Liability at 12/31/11
Severance	$	77	$	79	$	(116	)	$	40	$	29	$	(40	)	$	(2	)	$	27
Future rent under non-cancelable leases and other costs	182		62		(73		)	171		22		(42		)	3			154
Total	$	259	$	141	$	(189	)	$	211	$	51	$	(82	)	$	1		$	181

(a) Primarily foreign exchange.

At January 1, 2009, the liability balance related to restructuring activity was $222 million. In 2009, the Company accrued $243 million and had cash payments of $206 million related to restructuring activities that resulted in the liability balance at January 1, 2010 reported above.

The expenses associated with the above initiatives are included in compensation and benefits and other operating expenses in the consolidated statements of income. The liabilities associated with these initiatives are classified on the consolidated balance sheets as accounts payable, other liabilities, or accrued compensation and employee benefits, depending on the nature of the items.

- Definition

The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled.

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