NOTE 3. RESTRUCTURING AND IMPAIRMENT

Fiscal 2014

During the three and nine months ended March 31, 2014, the Company recorded restructuring charges of $10 million and $61 million, respectively, of which $6 million and $50 million, respectively, related to the newspaper businesses. The restructuring charges recorded in fiscal 2014 were primarily for employee termination benefits.

During the second quarter of fiscal 2014, the Company reached an agreement to sell one of its U.S. printing plants. The carrying value of the plant was more than the net proceeds the Company received in January 2014 by approximately $12 million which was recorded as an impairment charge during the nine months ended March 31, 2014.

Fiscal 2013

During the three and nine months ended March 31, 2013, the Company recorded restructuring charges of $54 million and $231 million, respectively, of which $53 million and $227 million, respectively, 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 three and nine months ended March 31, 2013 were primarily for employee termination benefits in Australia and contract termination payments in the U.K.

Changes in restructuring program liabilities were as follows:


	For the three months ended March 31,
	2014												2013
	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	$	23		$	8		$	1		$	32		$	34		$	7		$	3		$	44
Additions		7			2			1			10			34			1			19			54
Payments		(11	)		(1	)		—			(12	)		(37	)		(1	)		(17	)		(55	)
Other		—			(2	)		(1	)		(3	)		—			—			(5	)		(5	)

Balance, end of period	$	19		$	7		$	1		$	27		$	31		$	7		$	—		$	38


	For the nine months ended March 31,
	2014												2013
	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		52			7			2			61			153			1			77			231
Payments		(85	)		(4	)		(1	)		(90	)		(173	)		(2	)		(68	)		(243	)
Other		1			(2	)		(2	)		(3	)		—			—			(9	)		(9	)

Balance, end of period	$	19		$	7		$	1		$	27		$	31		$	7		$	—		$	38

For existing restructuring programs, the Company expects to record approximately $6 million of restructuring charges for the remainder of fiscal 2014. As of March 31, 2014, restructuring liabilities of approximately $22 million were included in the Balance Sheet in Other current liabilities and $5 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 March 31, 2014, 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 $24 million.