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Organizational Efficiency Plan
3 Months Ended
Mar. 31, 2015
Organizational Efficiency Plan [Abstract]  
Organizational Efficiency Plan

Note 6 Organizational Efficiency Plan

 

The Company is regularly evaluating ways to deliver its products and services more efficiently and at a lower cost. During the fourth quarter of 2013, the Company committed to a plan to increase its organizational efficiency and reduce costs through a series of actions that includes employee headcount reductions. As a result, the Company recognized charges in other operating expenses of $60 million pre-tax ($40 million after-tax) in the fourth quarter of 2013, primarily for severance costs. As of March 31, 2015, the remaining balance is $21 million, primarily related to severance, most of which will be paid by the end of 2015.