Restructuring Charges

3 Months Ended

Mar. 31, 2016

Restructuring and Related Activities [Abstract]

Restructuring Charges

12. Restructuring Charges

In the first quarter of 2016, the Company initiated a workforce reduction program to align the size and composition of Anadarko’s workforce with the Company’s expected future operating and capital plans. Employee notifications related to the workforce reduction program were substantially complete by March 31, 2016, and all restructuring charges will be recognized in 2016, with the exception of $10 million of expense for retirement benefits expected to be recognized in the first quarter of 2017. The following summarizes the total expected restructuring charges and the amounts expensed during the first quarter of 2016, which were included in general and administrative expenses in the Company’s Consolidated Statement of Income:

millions	Total Expected Costs		Three Months Ended March 31, 2016
Costs by category
Cash severance	$	154	$	131
Retirement benefits (1)	203		49
Share-based compensation	32		23
Total	$	389	$	203

__________________________________________________________________

⁽¹⁾  Includes termination benefits, curtailments, and settlements. There were no settlements recognized during the three months ended March 31, 2016. See Note 13—Pension Plans and Other Postretirement Benefits.

The following summarizes the changes in the cash severance-related liability included in accounts payable on the Company’s Consolidated Balance Sheet:

millions	2016
Balance at January 1	$	—
Accruals	131
Payments	(79		)
Balance at March 31	$	52