Exit Costs (Tables)

6 Months Ended

Jun. 30, 2018

Restructuring Cost and Reserve [Line Items]

Schedule of exit cost liability

The following tables provide a summary of the aggregate activity of the exit cost liability for both the PLS exit program and the Reorganization exit program, including those balances related to discontinued operations:

	Six Months Ended June 30, 2018
	Severance and Termination Benefits			Facility Exit Costs			Contract Termination & Other Costs			Total
	(In millions)
Balance, beginning of period	$	43		$	2		$	8		$	53
Charges	1			—			3			4
Paid	(30		)	(1		)	(10		)	(41		)
Balance, end of period	$	14		$	1		$	1		$	16

	Six Months Ended June 30, 2017
	Severance and Termination Benefits			Facility Exit Costs			Contract Termination & Other Costs		Total
	(In millions)
Balance, beginning of period	$	22		$	—		$	3	$	25
Charges	29			6			8		43
Paid	(1		)	(6		)	—		(7		)
Adjustments (1)	4			—			—		4
Balance, end of period	$	54		$	—		$	11	$	65

———————

⁽¹⁾  This adjustment represents previously accrued amounts of existing retention and incentive awards for exiting employees that will be paid out upon termination.

PLS exit program

Restructuring Cost and Reserve [Line Items]

Summary of expenses incurred to date

The following is a summary of expenses incurred to-date, including an estimate of remaining and total program costs:

	Six Months Ended June 30, 2018
	Severance and Termination Benefits		Facility Exit Costs		Contract Termination & Other Costs		Non-Cash Charges & Impairments		Total
	(In millions)
Costs incurred in current year:
First quarter	$	—	$	—	$	2	$	—	$	2
Second quarter	—		—		—		—		—
	—		—		2		—		2
Cumulative costs recognized in prior years	34		6		17		11		68
Estimate of remaining costs (1)	—		16		2		—		18
Total	$	34	$	22	$	21	$	11	$	88

———————

⁽¹⁾  The Company expects to incur substantially all of the remaining exit costs during the remainder of 2018, a significant portion of which relate to facility costs that are dependent upon the timing of when we vacate certain facilities.

Reorganization

Restructuring Cost and Reserve [Line Items]

Summary of expenses incurred to date

The following is a summary of expenses incurred to-date, including an estimate of remaining and total program costs:

	Six Months Ended June 30, 2018
	Severance and Termination Benefits		Facility Exit Costs		Contract Termination & Other Costs		Non-Cash Charges & Impairments		Total
	(In millions)
Costs incurred in current year:
First quarter	$	1	$	—	$	—	$	1	$	2
Second quarter	—		—		—		—		—
	1		—		—		1		2
Cumulative costs recognized in prior years	30		2		1		2		35
Estimate of remaining costs	1		—		—		—		1
Total Exit and disposal costs	32		2		1		3		38
Less: Exit and disposal costs related to discontinued operations (1)	19		2		1		3		25
Total Exit and disposal costs related to continuing operations	$	13	$	—	$	—	$	—	$	13

———————

⁽¹⁾  Amounts include the estimate of remaining program costs.

Summary of expenses incurred to date by segment

The following is a summary of the Reorganization program costs by segment as of June 30, 2018:

	Continuing Operations
	Mortgage Servicing Segment		Other		Discontinued Operations		Total
	(In millions)
Costs incurred in current year:
First quarter	$	—	$	—	$	2	$	2
Second quarter	—		—		—		—
	—		—		2		2
Cumulative costs recognized in prior years	2		11		22		35
Estimate of remaining costs	—		—		1		1
Total	$	2	$	11	$	25	$	38