Write-Downs, Reserves, and Project Opening Costs, net of Recoveries

6 Months Ended

Jun. 30, 2012

Write-Downs, Reserves, and Project Opening Costs, Net of Recoveries [Abstract]

Write-downs, Reserves, and Project Opening Costs, net of Recoveries

Note 9—Write-downs, Reserves, and Project Opening Costs, net of Recoveries

Write-downs, reserves, and project opening costs, net of recoveries include project opening costs and various pre-tax charges to record contingent liability reserves, costs associated with efficiency projects, project write-offs, demolition costs, and other non-routine transactions, net of recoveries of previously recorded non-routine reserves.

The components of write-downs, reserves, and project opening costs, net of recoveries are as follows:

	Quarter Ended June 30,						Six Months Ended June 30,
(In millions)	2012			2011			2012			2011
Write-downs and reserves, net of recoveries:
Remediation costs	$	3.6		$	4.3		$	6.0		$	7.8
Efficiency projects		1.7			14.0			7.8			25.5
Flood insurance deductibles		0.1			4.4			0.5			4.4
Litigation reserves, awards and settlements		(0.2	)		5.3			(0.2	)		6.1
Divestitures and abandonments		1.9			(2.6	)		14.6			(0.4	)
Other		0.8			(0.3	)		0.1			—
Total write-downs and reserves, net of recoveries		7.9			25.1			28.8			43.4
Project opening costs		0.1			4.1			1.8			4.3
Total write-downs, reserves, and project opening costs, net of recoveries	$	8.0		$	29.2		$	30.6		$	47.7

Remediation costs relate to projects at certain of our Las Vegas properties.

Efficiency projects represent costs incurred to identify and implement efficiency programs aimed at streamlining corporate and operating functions to achieve cost savings and efficiencies, such as Project Renewal.

Flood insurance deductibles represent the deductibles incurred as a result of the temporary closures of certain properties due to flooding.

Litigation reserves, awards and settlements include costs incurred/(reversed) as a result of the Company’s involvement in various litigation matters, including contingent losses.

Divestitures and abandonments include (gains)/losses on divested assets and costs associated with various projects that are determined to no longer be viable.