XML 88 R18.htm IDEA: XBRL DOCUMENT
v2.4.1.9

Restructuring Charges | 12 Months Ended
--- | ---
Dec. 31, 2014
Restructuring Charges [Abstract] |
Restructuring Charges | 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. Over $40 million in costs related to actions authorized under the 2011 Plan were recognized during 2014. During 2014, the Company announced the following restructuring plans: (a) the closure of a microwave oven manufacturing facility and other organizational efficiency actions in EMEA and Latin America, and (b) organizational integration activities in China, in anticipation of the Hefei Sanyo transaction. These plans resulted in charges of approximately $90 million in 2014, with completion expected by the end of 2015, related to employee termination costs, non-cash asset impairment costs, and facility exit costs. The following tables summarize the changes to our restructuring liability for the years ended December 31, 2014 and 2013:
Millions of dollars | 12/31/2013 | Acquisition - related(1) | Charges to Earnings | Cash Paid | Non-Cash and Other | 12/31/2014
Employee termination costs | $ | 74 |  | $ | 40 |  | $ | 82 |  | $ | (128 | ) | $ | (10 | ) | $ | 58 |
Asset impairment costs | — |  | — |  | 26 |  | — |  | (26 | ) | — |
Facility exit costs | 14 |  | — |  | 16 |  | (26 | ) | — |  | 4 |
Other exit costs | 18 |  | — |  | 12 |  | (14 | ) | — |  | 16 |
Total | $ | 106 |  | $ | 40 |  | $ | 136 |  | $ | (168 | ) | $ | (36 | ) | $ | 78 |
(1) A $40 million restructuring liability was acquired in the acquisition of Indesit in the fourth quarter of 2014 related to an ongoing plan previously initiated by Indesit management. As of December 31, 2014, the acquired restructuring liability is $17 million.
Millions of dollars | 12/31/2012 | Charge to Earnings | Cash Paid | Non-cash and Other | Revision of Estimate | 12/31/2013
Employee termination costs | $ | 56 |  | $ | 91 |  | $ | (62 | ) | $ | — |  | $ | (11 | ) | $ | 74 |
Asset impairment costs | — |  | 62 |  | — |  | (62 | ) | — |  | — |
Facility exit costs | 3 |  | 37 |  | (25 | ) | — |  | (1 | ) | 14 |
Other exit costs | 11 |  | 18 |  | (11 | ) | — |  | — |  | 18 |
Total | $ | 70 |  | $ | 208 |  | $ | (98 | ) | $ | (62 | ) | $ | (12 | ) | $ | 106 |
The following table summarizes 2014 restructuring charges by operating segment:
Millions of dollars |  | 2014 Charges
North America |  | $ | 10 |
Latin America |  | 8 |
EMEA |  | 102 |
Asia |  | 13 |
Corporate / Other |  | 3 |
Total |  | $ | 136 |

X
- 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/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SAB TOPIC 5.P.3) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140864-122747 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Staff Accounting Bulletin (SAB) -Number Topic 5 -Section P -Subsection 3, 4 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6394359&loc=d3e17939-110869 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 420 -SubTopic 10 -Section S99 -Paragraph 2 -Subparagraph (SAB TOPIC 5.P.4) -URI http://asc.fasb.org/extlink&oid=27011515&loc=d3e140904-122747 + Details
Name: | us-gaap_RestructuringAndRelatedActivitiesDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_RestructuringChargesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration