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EXIT COSTS AND RESTRUCTURING RESERVES
 12 Months Ended
Dec. 31, 2014
Restructuring and Related Activities [Abstract]  
EXIT COSTS AND RESTRUCTURING RESERVES
EXIT COSTS AND RESTRUCTURING RESERVES
In 2014, the Company began the implementation of a restructuring initiative designed to achieve operating efficiencies and reduce expense growth. As a result of this program, the Company expects to incur total restructuring costs of approximately $121 million through December 31, 2015, consisting of $41 million of employee compensation, $40 million of facilities costs and $40 million of other costs, primarily consulting and technology services. For the year ended December 31, 2014, the Company incurred $101 million of restructuring costs, consisting of $41 million of employee compensation reported in salaries and employee benefits, $18 million of facilities costs (including $6 million of building impairment) in occupancy, $24 million in outside services, $6 million in software expense reported in amortization of software, and $12 million in other operating expenses.
In 2014, as a result of the sale of retail branches located in Illinois (see Note 17 “Divestitures and Branch Assets and Liabilities Held for Sale” for further information), the Company incurred total costs of approximately $17 million for the year ended December 31, 2014, consisting of $3 million of employee compensation reported in salaries and employee benefits, $3 million of fixed assets expenses reported in equipment, $4 million in outside services and $7 million in other operating expenses.
In the year ended December 31, 2013, the Company reversed $5 million and recorded $31 million in noninterest expense for restructuring charges. The reversed restructuring charges consisted primarily of lease termination costs of $4 million and employee termination costs of $1 million. The recorded restructuring charges consisted primarily of employee termination costs of $6 million, lease termination costs of $15 million, fixed asset write-offs of $7 million, and $3 million of other costs.
For segment reporting, all of these restructuring costs are reported within Other. See Note 23 “Business Segments” for further information.
The following table includes the activity in the exit costs and restructuring reserves:
(in millions)
Salaries & Employee Benefits
Occupancy & Equipment
Other

Total

Reserve balance as of January 1, 2012

$9


$59


$—


$68

Additions
2

1

4

7

Reversals
(1
)
(11
)
—

(12
)
Utilization
(7
)
(22
)
(4
)
(33
)
Reserve balance as of December 31, 2012
3

27

—

30

Additions
6

22

3

31

Reversals
(1
)
(4
)
—

(5
)
Utilization
(6
)
(21
)
(3
)
(30
)
Reserve balance as of December 31, 2013
2

24

—

26

Additions
43

24

57

124

Reversals
(1
)
(5
)
(4
)
(10
)
Utilization
(21
)
(25
)
(50
)
(96
)
Reserve balance as of December 31, 2014

$23


$18


$3


$44