Restructuring Programs

3 Months Ended

Sep. 30, 2013

Restructuring And Related Activities [Abstract]

NOTE 3. RESTRUCTURING PROGRAMS

Fiscal 2014

During the three months ended September 30, 2013, the Company recorded restructuring charges of $27 million, of which $23 million related to the newspaper businesses. The restructuring charges recorded in the first quarter of fiscal 2014 were primarily for employee termination benefits.

Fiscal 2013

During the three months ended September 30, 2012, the Company recorded restructuring charges of $115 million, of which $112 million related to the newspaper businesses. The restructuring charges primarily related to the reorganization of the Australian newspaper businesses which was announced at the end of fiscal 2012 and the continued reorganization of the U.K. newspaper business. The restructuring charges recorded in the first quarter of fiscal 2013 were primarily for employee termination benefits in Australia and contract termination payments in the U.K.

Changes in program liabilities were as follows:


	For the three months ended September 30,
	2013												2012
	One time employee termination benefits			Facility related costs			Other costs			Total			One time employee termination benefits			Facility related costs			Other costs			Total
	(in millions)
Balance, beginning of period	$	51		$	6		$	2		$	59		$	51		$	8		$	—		$	59
Additions		23			3			1			27			64			—			51			115
Payments		(46	)		(2	)		(1	)		(49	)		(70	)		(1	)		(49	)		(120	)
Other		1			—			(1	)		—			—			—			(2	)		(2	)

Balance, end of period	$	29		$	7		$	1		$	37		$	45		$	7		$	—		$	52

For existing restructuring programs, the Company expects to record approximately $35 million of restructuring charges for the remainder of fiscal 2014, principally related to additional termination benefits at the newspaper businesses. As of September 30, 2013, restructuring liabilities of approximately $31 million were included in the Balance Sheets in Other current liabilities and $6 million were included in Other non-current liabilities.

Dow Jones

As a result of the Dow Jones acquisition, in fiscal 2008, the Company established and approved plans to integrate the acquired operations into the Company’s News and Information Services segment. The cost to implement these plans consisted of separation payments for certain Dow Jones executives under the change in control plan Dow Jones had established prior to the acquisition, non-cancelable lease commitments and lease termination charges for leased facilities and other contract termination costs associated with the restructuring activities. As of September 30, 2013, all of the material aspects of the plans have been completed and the remaining obligation primarily pertains to the lease termination charges for leased facilities of approximately $26 million.

- 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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