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Company Transformation | 3 Months Ended
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Mar. 31, 2012
Company Transformation [Abstract] |
COMPANY TRANSFORMATION | NOTE 3 COMPANY TRANSFORMATION NOTE 3 COMPANY TRANSFORMATION During the first quarter of 2012 and 2011, we recognized pre-tax expenses of $12 and $85, respectively, in connection with activities taken to complete the Distribution and to create the revised organizational structure (referred to herein as Transformation costs). Transformation costs presented within income from discontinued operations are costs directly related to the Distribution that provide no future benefit to the Company. The components of Transformation costs incurred during first quarter of 2012 and 2011 are presented below.
|  | 2012 |  |  | 2011 |
|  | Continuing Operations |  |  | Discontinued Operations |  |  | Total |  |  | Continuing Operations |  |  | Discontinued Operations |  |  | Total |
Non-cash asset impairment(a) |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 55 |  |  | $ | — |  |  | $ | 55 |
Advisory fees |  |  | 1 |  |  |  | 6 |  |  |  | 7 |  |  |  | — |  |  |  | 22 |  |  |  | 22 |
Lease termination and other real estate costs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | 3 |
Other costs |  |  | 4 |  |  |  | 1 |  |  |  | 5 |  |  |  | 2 |  |  |  | 3 |  |  |  | 5 |
Transformation costs before income tax benefit |  |  | 5 |  |  |  | 7 |  |  |  | 12 |  |  |  | 60 |  |  |  | 25 |  |  |  | 85 |
Tax benefit |  |  | (1 | ) |  |  | (1 | ) |  |  | (2 | ) |  |  | (20 | ) |  |  | (2 | ) |  |  | (22 | )
Total transformation costs, net of tax benefit |  | $ | 4 |  |  | $ | 6 |  |  | $ | 10 |  |  | $ | 40 |  |  | $ | 23 |  |  | $ | 63 |
(a) | Reflects a $55 non-cash impairment charge related to a decision to discontinue development of an information technology consolidation initiative.
The table included below provides a rollforward of accrued Transformation costs for the quarter ended March 31, 2012.
Transformation accrual – December 31, 2011 |  | $ | 34 |
Charges for actions during the period: |  |  |  |
Continuing operations |  |  | 5 |
Discontinued operations |  |  | 7 |
Cash payments |  |  | (30 | )
Transformation accrual – March 31, 2012 |  | $ | 16 |

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- Definition Company transformation. + References No definition available. + Details
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