Restructuring Costs

6 Months Ended

Jun. 30, 2015

Restructuring and Related Activities [Abstract]

Restructuring Costs

Restructuring Costs

The Company recorded total restructuring costs of $5 million in the first six months of 2015, primarily for future severance and rent under non-cancelable leases. These costs were incurred in Risk and Insurance services ($2 million) and in Corporate ($3 million).

Details of the restructuring activity from January 1, 2014 through June 30, 2015, which includes liabilities from actions prior to 2015, are as follows:

(In millions of dollars)	Liability at 1/1/14		Amounts Accrued		Cash Paid			Other			Liability at 12/31/14		Amounts Accrued		Cash Paid			Liability at 6/30/15
Severance	$	11	$	4	$	(8	)	$	—		$	7	$	2	$	(4	)	$	5
Future rent under non-cancelable leases and other costs	113		8		(35		)	(1		)	85		3		(8		)	80
Total	$	124	$	12	$	(43	)	$	(1	)	$	92	$	5	$	(12	)	$	85

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, depending on the nature of the items.