Restructuring and Impairment Charges

6 Months Ended

Mar. 30, 2019

Restructuring and Related Activities [Abstract]

Restructuring and Related Activities Disclosure

Restructuring Charges

The Company has begun implementing a restructuring and integration plan as a part of its initiative to realize previously announced cost synergies from the acquisition of 21CF. Although our plans are not yet finalized, we currently anticipate that the total severance and related costs could be on the order of $1.5 billion. To date, we have recorded severance and related costs totaling $403 million in connection with the plan. In addition, we recorded charges totaling $259 million for equity based compensation, primarily for 21CF awards that were accelerated to vest upon the closing of the 21CF acquisition. These charges are recorded in “Restructuring and impairment charges” in the Condensed Consolidated Statements of Income. The Company may incur other costs in connection with the plan such as lease termination costs, but is unable to estimate those amounts at this time. For the prior-year quarter and six-month period, restructuring and impairment charges were not material.

The following table summarizes the changes in restructuring reserves:

	Beginning Balance		Additions		Payments			Other		Ending Balance
Quarter ended March 30, 2019:
Restructuring reserves	$	39	$	403	$	(19	)	$	—	$	423