Restructuring Charges

3 Months Ended

Mar. 31, 2013

RESTRUCTURING CHARGES

During the fourth quarter 2011, the Company committed to restructuring plans (the "2011 Plan") to expand our operating margins and improve our earnings through substantial cost and capacity reductions, primarily within our North America and EMEA operating segments.

The 2011 Plan includes the following actions:


•	Overall workforce reduction of more than 5,000 positions, including approximately 1,200 salaried positions.


•	Closure of a refrigeration manufacturing facility in the United States in 2012.


•	Cease laundry production in a European manufacturing facility by 2013.


•	Ceased dishwasher production in a European manufacturing facility in January 2012.


•	Additional organizational efficiency actions in North America and EMEA.

Combined within the 2011 Plan are previously announced restructuring initiatives and the financial restructuring of a long standing customer and affiliate in Europe. We expect to incur up to $500 million of total costs related to the combined plans with substantial completion expected by the end of 2013. The following table summarizes the change in our restructuring liability for the period ended March 31, 2013 and cumulative charges recognized and total expected charges for the combined plans as of March 31, 2013.



Millions of dollars	12/31/2012		Charge to Earnings		Cash Paid			Non-cash and Other			3/31/2013		Cumulative Charges		Expected Total Charges
Employee termination costs	$	56	$	20	$	(21	)	$	—		$	55	$	172	$	265
Asset impairment costs	—		7		—			(7		)	—		99		100
Facility exit costs	3		13		(4		)	—			12		54		85
Other exit costs	11		2		(2		)	—			11		32		50
Total	$	70	$	42	$	(27	)	$	(7	)	$	78	$	357	$	500

The following table summarizes restructuring charges for the combined plans, by operating segment, as of March 31, 2013.



Millions of dollars	2013 Charges		Cumulative Charges		Expected Total Charges
North America	$	33	$	225	$	331
Latin America	—		2		6
EMEA	9		119		151
Asia	—		8		8
Corporate / Other	—		3		4
Total	$	42	$	357	$	500

- 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.

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