Restructuring

As part of our Growth and Value Plan that we began in September of 2011, we have initiated various restructuring plans as we identified opportunities for cost savings through workforce reductions and created a flatter and more agile organization. Additionally, as we continued to evaluate our remaining cost structure in 2013, particularly in light of recent divestitures, we further identified cost savings associated with streamlining our management structure and our decision to exit non-strategic businesses. Our 2013 and 2012 restructuring plans consisted of a company-wide workforce reduction of approximately 520 positions and 670 positions, respectively, and are further detailed below. The charges for each restructuring plan are classified as selling and general expenses within the consolidated statements of income and the reserves are included in other current liabilities in the consolidated balance sheets.

In certain circumstances, reserves are no longer needed because of efficiencies in carrying out the plans or because employees previously identified for separation resigned from the Company and did not receive severance or were reassigned due to circumstances not foreseen when the original plans were initiated. In these cases, we reverse reserves through the consolidated statements of income during the period when it is determined they are no longer needed. There was approximately $7 million of reserves from the 2012 restructuring plan that we have reversed in 2013, which offset the initial charge of $49 million recorded for the 2013 restructuring plan.

As part of the sale of MHE, described further in Note 2 — Acquisitions and Divestitures, we have retained MHE's restructuring liabilities. Therefore, the remaining reserve for the 2012 restructuring plan detailed below includes MHE's restructuring liability, however, the initial charge associated with the reserve has been bifurcated between continuing and discontinued operations.

The initial restructuring charge recorded and the ending reserve balance as of December 31, 2013 by segment is as follows:



	2013 Restructuring Plan				2012 Restructuring Plan
(in millions)	Initial Charge Recorded		Ending Reserve Balance		Initial Charge Recorded		Ending Reserve Balance
S&P Ratings	$	13	$	13	$	15	3
S&P Capital IQ	10		9		19		1
S&P DJ Indices	—		—		1		—
C&C	10		7		12		2
Corporate	16		10		21		—
Total continuing operations	49		39		68		6
MHE	—		—		39		8
Total	$	49	$	39	$	107	$	14

For the year ended December 31, 2013, we have reduced the reserve for the 2013 restructuring plan by $10 million and for the years ended December 31, 2013 and 2012, we have reduced the reserve for the 2012 restructuring plan by $78 million and $15 million, respectively. The reductions primarily related to cash payments for employee severance costs.