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Restructuring | 3 Months Ended
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Mar. 31, 2024
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring We continuously evaluate our cost structure to identify cost savings associated with streamlining our management structure. Our 2024 and 2023 restructuring plans consisted of a company-wide workforce reduction of approximately 287 and 1,050 positions, respectively, and are further detailed below. The charges for each restructuring plan are classified as selling and general expenses within the consolidated statements of income and the reserves are included in other current liabilities in the consolidated balance sheets. In certain circumstances, reserves are no longer needed because employees previously identified for separation resigned from the Company and did not receive severance or were reassigned due to circumstances not foreseen when the original plans were initiated. In these cases, we reverse reserves through the consolidated statements of income during the period when it is determined they are no longer needed. The initial restructuring charge recorded and the ending reserve balance as of March 31, 2024 by segment is as follows:
| 2024 Restructuring Plan |  | 2023 Restructuring Plan
(in millions) | Initial Charge Recorded |  | Ending Reserve Balance |  | Initial Charge Recorded |  | Ending Reserve Balance
Market Intelligence | $ | 31 |  |  | $ | 24 |  |  | $ | 90 |  |  | $ | 41 |
Ratings | 1 |  |  | 1 |  |  | 10 |  |  | 5 |
Commodity Insights | — |  |  | — |  |  | 26 |  |  | 12 |
Mobility | — |  |  | — |  |  | 9 |  |  | 5 |
Indices | 1 |  |  | 1 |  |  | 5 |  |  | 2 |
Corporate | 2 |  |  | 2 |  |  | 43 |  |  | 18 |
Total | $ | 35 |  |  | $ | 28 |  |  | $ | 183 |  |  | $ | 83 |
We recorded a pre-tax restructuring charge of $35 million primarily related to employee severance charges for the 2024 restructuring plan during the three months ended March 31, 2024 and have reduced the reserve by $7 million. The ending reserve balance for the 2023 restructuring plan was $152 million as of December 31, 2023. For the three months ended March 31, 2024, we have reduced the reserve for the 2023 restructuring plan by $69 million. The reductions primarily related to cash payments for employee severance charges.

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//420/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482017/420-10-50-1 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479823/420-10-S99-2 + Details
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