Restructuring Charges

3 Months Ended

Mar. 31, 2014

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. All actions related to the 2011 Plan have been announced and are now substantially complete. Approximately $50 million in charges related to actions authorized under the 2011 Plan remain and will be recognized primarily during 2014.

In January 2014, the Company announced the closure of a microwave oven manufacturing facility in EMEA by the end of 2014. This action, combined with other organizational efficiency actions in EMEA, are expected to result in charges of approximately $50 million in 2014 primarily related to employee termination costs, non-cash asset impairment costs and facility exit costs.

The following table summarizes the change in our combined restructuring liability for the period ended March 31, 2014:



Millions of dollars	December 31, 2013		Charge to Earnings		Cash Paid			Non-cash and Other			March 31, 2014
Employee termination costs	$	74	$	18	$	(25	)	$	(2	)	$	65
Asset impairment costs	—		6		—			(6		)	—
Facility exit costs	14		2		(5		)	—			11
Other exit costs	18		3		(3		)	—			18
Total	$	106	$	29	$	(33	)	$	(8	)	$	94

The following table summarizes 2014 restructuring charges by operating segment:



Millions of dollars	2014 Charges
North America	$	6
EMEA	23
Total	$	29

- 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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