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Restructuring | 9 Months Ended
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Sep. 30, 2020
Restructuring and Related Activities [Abstract] |
Restructuring | Restructuring The following table summarizes restructuring reserve activity during the nine months ended September 30, 2020 (in millions):
| Employee Severance and Benefits
Accrued liability as of January 1, 2020 | $ | 28 |
Charges | 6 |
Payments | (33) |
Accrued liability as of September 30, 2020 | $ | 1 |
During the first quarter of 2020 we substantially completed the reduction in workforce that was approved by management during the fourth quarter of 2019. We incurred pre-tax restructuring charges of approximately $6 million primarily during the first quarter of 2020 in connection with the action taken in the fourth quarter of 2019. During the first quarter of 2019, management approved a plan to drive operational improvement that included the reduction of workforce. We incurred pre-tax restructuring charges of approximately $39 million during the nine months ended September 30, 2019, which were primarily related to employee severance and benefits. The reduction was substantially completed in the first quarter of 2019. Restructuring charges are included in general and administrative expenses in the condensed consolidated statement of income.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -URI http://asc.fasb.org/topic&trid=2175745 + Details
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