Real Estate Charges (Tables)

9 Months Ended

Sep. 30, 2012

Real estate liability account activity related to workforce reduction

During the third quarter of 2012, we recorded pre-tax real estate charges of $168.1 million, reflecting the net present value of the difference between the amount of our ongoing contractual operating lease obligations for this space and our estimate of current market rental rates ($131.8 million), as well as the write-off of leasehold improvements, furniture and equipment related to this space ($31.3 million), and changes in estimates relating to previously recorded real estate charges ($5.0 million). The following table summarizes the activity in the liability account relating to our 2010 and 2012 office space consolidation initiatives for the following periods:

	Nine Months Ended September 30, 2012			Twelve Months Ended December 31, 2011
	(in thousands)

Balance as of beginning of period	$	71,164		$	89,793
Expense incurred (credit)		151,125			(3,506	)
Deferred rent		22,617			2,288
Payments made		(23,188	)		(18,696	)
Interest accretion		826			1,285
Balance as of end of period	$	222,544		$	71,164

- Definition

Tabular disclosure of an entity's restructuring reserve that occurred during the period associated with the exit from or disposal of business activities or restructurings for each major type of cost. This element may also include a description of any reversal and other adjustment made during the period to the amount of an accrued liability for restructuring activities. This element may be used to encapsulate the roll forward presentations of an entity's restructuring reserve by type of cost and in total, and explanation of changes that occurred in the period.

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