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Restructuring Charges

3 Months Ended

Mar. 31, 2019

Restructuring Charges [Abstract]

Restructuring Charges

RESTRUCTURING CHARGES

We periodically take action to improve operating efficiencies, typically in connection with business acquisitions or changes in the economic environment. Our footprint and headcount reductions and organizational integration actions relate to discrete, unique restructuring events, primarily reflected in the following plans:

In 2015, we committed to a restructuring plan to integrate our Italian legacy operations with those of Indesit. The industrial restructuring plan which was approved by the relevant labor unions and signed by the Italian government in 2015, provided for the closure or repurposing of certain manufacturing facilities and headcount reductions at other facilities. In addition, the restructuring plan provided for headcount reductions in the salaried employee workforce. These actions are substantially complete.

In 2018, we announced actions in EMEA to reduce fixed costs by $50 million. The initiatives primarily include headcount reductions throughout the EMEA region and the exit from domestic sales operations in Turkey. We expect these actions will be complete in 2019 with approximately $43 million expense remaining.

The following table summarizes the restructuring actions above for the three months ended March 31, 2019 and the total costs to date for each plan:

Millions of dollars	2019		Total
Indesit	2		230
EMEA fixed cost actions	19		33

The following table summarizes the changes to our restructuring liability during the three months ended March 31, 2019:

Millions of dollars	12/31/2018			Charges to Earnings			Cash Paid			Non-Cash and Other			3/31/2019
Employee termination costs	$	84		$	20		$	(45	)	$	—		$	59
Asset impairment costs	—			—			—			4			4
Facility exit costs	(9		)	2			(4		)	—			(11		)
Other exit costs	21			4			(3		)	—			22
Total	$	96		$	26		$	(52	)	$	4		$	74

The following table summarizes the restructuring charges by operating segment for the period presented:

	Three Months Ended
Millions of dollars	March 31, 2019
North America	$	—
EMEA	26
Latin America	—
Asia	—
Corporate / Other	—
Total	$	26

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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

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- References

No definition available.

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