Severance And Facility Exiting Liabilities Severance And Facility Exiting Liabilities

12 Months Ended

Dec. 31, 2017

Severance And Facility Exiting Liabilities [Abstract]

Severance And Facility Exiting Liabilities

SEVERANCE AND FACILITY EXITING LIABILITIES

The following table summarizes liabilities (pre-tax) related to closing facilities and employee severance:

Severance and Facility Exiting Liabilities (dollars in millions)

	Severance					Facilities
	Number of Employees		Liability			Number of Facilities		Liability			Total Liabilities
December 31, 2015	53		$	36.9		8		$	19.1		$	56.0
Additions and adjustments	165		28.6			5		(0.6		)	28.0
Utilization	(183	)	(62.3		)	(2	)	(3.4		)	(65.7		)
December 31, 2016	35		3.2			11		15.1			18.3
Additions and adjustments	718		41.5			3		4.9			46.4
Utilization	(215	)	(16.4		)	(4	)	(5.0		)	(21.4		)
December 31, 2017	538		$	28.3		10		$	15.0		$	43.3

CIT continued to implement various organization efficiency and cost reduction initiatives. The severance additions primarily relate to employee termination benefits incurred in conjunction with these initiatives. The facility additions primarily relate to location closings and consolidations in connection with these initiatives. These additions, along with charges related to accelerated vesting of equity and other benefits, were recorded as part of the $53.0 million and $36.2 million provisions for the years ended December 31, 2017 and 2016, respectively.