We are currently pursuing several multi-year restructuring initiatives designed to increase our efficiency and focus our business behind our key growth strategies. Charges related to these activities were as follows:

	Quarter Ended												Nine-Month Period Ended
	Feb. 22, 2015												Feb. 22, 2015
In Millions		Severance		Asset Write-offs		Pension Related		Accelerated Depreciation		Other		Total		Severance		Asset Write-offs		Pension Related		Accelerated Depreciation		Other		Total
Project Catalyst	$	(24.4)	$	11.1	$	6.6	$	-	$	8.0	$	1.3	$	120.6	$	11.1	$	6.6	$	-	$	8.0	$	146.3
Project Century		22.3		8.8		15.6		21.6		1.6		69.9		44.0		41.4		31.2		34.2		8.0		158.8
Combination of certain
operational facilities		-		-		-		-		-		-		13.0		0.7		-		-		0.2		13.9
Charges associated with
restructuring actions
previously announced		-		-		-		-		-		-		(0.6)		-		-		-		-		(0.6)
Total	$	(2.1)	$	19.9	$	22.2	$	21.6	$	9.6	$	71.2	$	177.0	$	53.2	$	37.8	$	34.2	$	16.2	$	318.4

During the second quarter of fiscal 2015, we approved Project Catalyst, a restructuring plan to increase organizational effectiveness and reduce overhead expense. In connection with this project, we expect to eliminate approximately 800 positions primarily in the United States. We expect to incur approximately $146 million of net expenses relating to these actions of which approximately $127 million will be cash. We expect these actions to be largely completed by the end of fiscal 2015.

Project Century (Century) is a review of our North American manufacturing and distribution network to streamline operations and identify potential capacity reductions. In addition to the actions taken at certain facilities described below, we incurred $17.3 million of restructuring charges in the nine-month period ended February 22, 2015 related to Century of which $6.0 million was cash.

As part of Century, we approved actions in the third quarter of fiscal 2015 to reduce our refrigerated dough capacity and exit our Midland, Ontario, Canada and New Albany, Indiana facilities, which support our U.S. Retail, International, and Convenience Stores and Foodservice supply chains. The Midland action will affect approximately 100 positions and we expect to incur approximately $20 million of net expenses relating to this action, of which approximately $12 million will be cash. We recorded $5.7 million of restructuring charges in the third quarter of fiscal 2015. The New Albany action will affect approximately 400 positions and we expect to incur approximately $88 million of net expenses relating to this action of which approximately $44 million will be cash. We recorded $47.4 million of restructuring charges in the third quarter of fiscal 2015. We anticipate these actions will be completed by the end of fiscal 2018.

During the second quarter of fiscal 2015, we approved a restructuring plan to consolidate yogurt manufacturing capacity and exit our Methuen, Massachusetts facility in our U.S. Retail and Convenience Stores and Foodservice supply chains as part of Century. This action will affect approximately 250 positions. We recorded $9.2 million of restructuring charges in the third quarter of fiscal 2015 and $34.9 million in the nine-month period ended February 22, 2015. We expect to incur approximately $70 million of net expenses relating to this action of which approximately $20 million will be cash. We expect this action to be completed by the end of fiscal 2016.

Also as part of Century, during the second quarter of fiscal 2015, we approved a restructuring plan to eliminate excess cereal and dry mix capacity and exit our Lodi, California facility in our U.S. Retail supply chain. This action will affect approximately 430 positions. We recorded $8.7 million of restructuring charges in the third quarter of fiscal 2015 and $53.5 million in the nine-month period ended February 22, 2015. We expect to incur approximately $100 million of net expenses relating to this action of which approximately $38 million will be cash. We expect this action to be completed by the end of fiscal 2016.

During the first quarter of fiscal 2015, we approved a plan to combine certain Yoplait and General Mills operational facilities within our International segment to increase efficiencies and reduce costs. This action will affect approximately 240 positions. We expect to incur approximately $15 million of net expenses relating to this action of which approximately $14 million will be cash. We expect this action to be completed in fiscal 2016.

During the nine-month period ended February 22, 2015, we paid $43.2 million in cash related to restructuring actions.

In addition to restructuring charges, we expect to incur approximately $66 million of additional project-related costs all of which will be cash and will be recorded in cost of sales. We recorded $2.8 million in the third quarter of fiscal 2015 and $3.5 million in the nine-month period ended February 22, 2015 in cost of sales for project-related costs.

Restructuring charges and project-related costs are classified in our Consolidated Statements of Earnings as follows:

		Quarter Ended				Nine-Month Period Ended
In Millions		Feb. 22, 2015		Feb. 23, 2014		Feb. 22, 2015		Feb. 23, 2014
Cost of sales	$	21.9	$	-	$	40.5	$	-
Restructuring, impairment, and other exit costs		49.3		-		277.9		3.5
Total restructuring charges		71.2		-		318.4		3.5
Project-related costs classified in cost of sales	$	2.8	$	-	$	3.5	$	-

The roll forward of our restructuring and other exit cost reserves, included in other current liabilities, is as follows:

In Millions		Severance		Contract Termination		Other Exit Costs		Total
Reserve balance as of May 25, 2014	$	3.5	$	-	$	-	$	3.5
Fiscal 2015 charges, including foreign currency translation		175.0		0.6		8.1		183.7
Utilized in fiscal 2015		(35.4)		-		(6.0)		(41.4)
Reserve balance as of Feb. 22, 2015	$	143.1	$	0.6	$	2.1	$	145.8

The charges recognized in the roll forward of our reserves for restructuring and other exit costs do not include items charged directly to expense (e.g., asset impairment charges, the gain or loss on the sale of restructured assets, and the write-off of spare parts) and other periodic exit costs recognized as incurred, as those items are not reflected in our restructuring and other exit cost reserves on our Consolidated Balance Sheets.