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Restructuring And Other Related Charges
12 Months Ended
Dec. 31, 2013
Restructuring Charges [Abstract]  
Restructuring And Other Related Charges
RESTRUCTURING AND OTHER RELATED CHARGES
During 2013, 2012 and 2011, the Company recorded restructuring and other related charges of $107 million, $123 million and $179 million, respectively; of which approximately 75%, 70% and 60%, in each respective year was included in selling general and administrative expenses in the accompanying Consolidated Statements of Earnings, with the remaining amount charged to cost of sales. The amounts are predominantly cash charges in each year.
The nature of the Company’s restructuring and related activities were broadly consistent throughout the Company’s reportable segments and focused on improvements in operational efficiency through targeted workforce reductions and facility consolidations and closures. These costs were incurred to position the Company to provide superior products and services to its customers in a cost efficient manner, and taking into consideration broad economic uncertainties. Charges also included amounts to reduce inventory to market value and for impairments of long-lived assets.
Substantially all restructuring activities initiated in 2013 were completed by December 31, 2013 and the Company expects substantially all cash payments associated with remaining termination benefits to be paid in 2014. As of December 31, 2013 and 2012, the Company had accrued restructuring charges of $91 million and $104 million, respectively, included in accrued expenses and other liabilities in the accompanying Consolidated Balance Sheets.