XML 95 R19.htm IDEA: XBRL DOCUMENT v2.4.1.9
Restructuring Charges and Asset Impairments
 12 Months Ended
Dec. 31, 2014
Restructuring and Related Activities [Abstract]  
Restructuring Charges and Asset Impairments
Restructuring Charges and Asset Impairments
Operational Excellence
In 2013, we initiated actions designed to enhance our responsiveness to changing market conditions, further streamline our business operations, reduce our cost structure and create long-term flexibility to invest in growth (Operational Excellence). The table below shows the activity in our restructuring reserves for Operational Excellence for the years ended December 31, 2014 and 2013 and includes amounts for both continuing operations and discontinued operations.
 
Severance and benefits costs
 
Other exit
costs
 
Total
Balance at December 31, 2012
$
—

 
$
—

 
$
—

Expenses, net
55,449

 
9,961

 
65,410

Cash payments
(13,022
)
 
(2,339
)
 
(15,361
)
Balance at December 31, 2013
42,427

 
7,622

 
50,049

Expenses, net
82,730

 
5,444

 
88,174

Cash payments
(47,052
)
 
(4,912
)
 
(51,964
)
Balance at December 31, 2014
$
78,105

 
$
8,154

 
$
86,259


The majority of the remaining restructuring reserves are expected to be paid over the next 12-24 months. Due to certain international labor laws and long-term lease agreements, some payments will extend beyond 24 months. We expect to fund these payments from cash flows from operations.

Other Plans
Other plans include workforce reduction actions taken in 2012 and strategic transformation initiatives announced in 2009 that were implemented over a three year period. The table below shows the activity in our restructuring reserves for these other plans for the years ended December 31, 2014, 2013 and 2012 and includes amounts for both continuing operations and discontinued operations.
 
Severance and benefits costs
 
Other exit
costs
 
Total
Balance at December 31, 2011
$
105,036

 
$
14,075

 
$
119,111

Expenses, net
24,992

 
(1,627
)
 
23,365

Cash payments
(67,488
)
 
(7,230
)
 
(74,718
)
Balance at December 31, 2012
62,540

 
5,218

 
67,758

Expenses, net
(7,076
)
 
—

 
(7,076
)
Cash payments
(39,333
)
 
(4,826
)
 
(44,159
)
Balance at December 31, 2013
16,131

 
392

 
16,523

Expenses, net
(8,405
)
 
—

 
(8,405
)
Cash payments
(3,995
)
 
(203
)
 
(4,198
)
Balance at December 31, 2014
$
3,731

 
$
189

 
$
3,920



Asset Impairments
In 2013, we entered into an agreement to sell our corporate headquarters building and recorded a non-cash impairment charge of $26 million to write-down the carrying value of the building to its fair value. The fair value was determined based on the estimated selling price less the costs to sell. The inputs used to determine the fair value were classified as Level 3. The impairment charge was included as restructuring charges and asset impairments, net in the Consolidated Statements of Income.