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Restructuring Charges
 12 Months Ended
Dec. 31, 2022
Restructuring and Related Activities [Abstract]  
Restructuring Charges RESTRUCTURING CHARGES
As part of a strategic effort to reposition its portfolio, optimize operational performance and improve margins, the Company incurred charges in recent years related to restructuring that include reductions in workforce and other costs. These charges are further discussed below. The following table presents a summary of the restructuring charges included in Operating Income for the years ended December 31, 2022, 2021 and 2020:
For the years ended December 31,
(in millions)202220212020
Severance (including payroll taxes) (1)
$— $7 $16 
(1)All restructuring charges were recorded on the Company's E&P segment for all applicable years.
In February 2021, the Company notified employees of a workforce reduction plan as part of an ongoing strategic effort to reposition its portfolio, optimize operational performance and improve margins. Affected employees were offered a severance package, which included a one-time payment depending on length of service and, if applicable, the current value of unvested long-term incentive awards that were forfeited. These costs were recognized as restructuring charges for the year ended December 31, 2021, and were substantially complete by the end of the first quarter of 2021.
In February 2020, the Company notified employees of a workforce reduction plan as a result of a strategic realignment of the Company’s organizational structure. Affected employees were offered a severance package, which included a one-time payment depending on length of service and, if applicable, the current value of unvested long-term incentive awards that were forfeited. These costs were recognized as restructuring charges for the year ended December 31, 2020. The Company also recognized additional severance costs in the fourth quarter of 2020 related to a continued organizational restructuring.
The Company had no material restructuring activities during the year ended December 31, 2022, and no material liabilities associated with restructuring at December 31, 2022 and December 31, 2021.