Restructuring Restructuring

12 Months Ended

Dec. 31, 2015

Restructuring and Related Activities [Abstract]

Restructuring

Restructuring

On October 21, 2015, we announced a corporate restructuring, which includes the termination of certain pipeline programs and an 11% reduction in workforce. We anticipate making cash payments totaling approximately $120 million under this program, which includes approximately $15.9 million related to previously 2015 accrued incentive compensation, for a total net expected restructuring charge of $105 million. These amounts will be substantially incurred and paid by the end of 2016.

We recognized $93.4 million of these charges during the fourth quarter of 2015, of which $86.2 million was related to our workforce reduction and $7.2 million was related to the pipeline program terminations. Our restructuring reserve is included in accrued expenses and other in our consolidated balance sheets.

The following table summarizes the charges and spending related to our restructuring efforts during 2015:

(In millions)	Workforce Reduction			Pipeline Programs			Total
Restructuring charges incurred during the fourth quarter of 2015	$	86.2		$	7.2		$	93.4
Previously accrued incentive compensation	15.9			—			15.9
Reserves established	102.1			7.2			109.3
Amounts paid through December 31, 2015	(68.4		)	(3.6		)	(72.0		)
Restructuring reserve as of December 31, 2015	$	33.7		$	3.6		$	37.3