Restructuring

During 2013, we continued to evaluate our cost structure and further identified cost savings associated with streamlining our management structure and our decision to exit non-strategic businesses. The resulting restructuring plan consisted of a company-wide workforce reduction of approximately 520 positions and is further detailed below. The charges for the 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.

The initial restructuring charge recorded and the ending reserve balance as of March 31, 2014 by segment is as follows:



(in millions)	Initial Charge Recorded		Ending Reserve Balance
S&P Ratings	$	13	$	12
S&P Capital IQ	10		7
C&C	10		5
Corporate	16		8
Total	$	49	$	32

The ending reserve balance for the 2013 restructuring plan was $39 million as of December 31, 2013. For the three months ended March 31, 2014, we have reduced the reserve for the 2013 restructuring plan by $7 million.