Restructuring

During the three and six months ended June 30, 2016 and 2015, the Company recorded restructuring charges in connection with management’s alignment of the business with strategic objectives, cost savings initiatives, the departure of certain executive officers, and refinements of estimates.

In connection with our announced cost management initiatives, we expect to incur approximately $125 million of restructuring charges, of which we have incurred $99 million through June 30, 2016. For the three and six months ended June 30, 2016, we incurred $24 million and $45 million respectively, which includes a current quarter loss of $21 million on the impairment of a held-for-sale asset related to the exit of a facility. For the three and six months ended June 30, 2015, we incurred approximately $19 million and $20 million in restructuring costs, respectively, primarily related to severance costs.

A summary of net pretax charges incurred by segment and reported within "Other operating expenses" on the consolidated statement of operations was as follows for the periods presented:



	Three months ended June 30,						Six months ended June 30,
(in millions)	2016			2015			2016			2015
Global Business Solutions	$	(2	)	$	(5	)	$	(5	)	$	(5	)
Global Financial Solutions	(1		)	(4		)	(2		)	(4		)
Network & Security Solutions	—			—			(2		)	—
Corporate	(21		)	(10		)	(36		)	(11		)
Restructuring, net	$	(24	)	$	(19	)	$	(45	)	$	(20	)

The following table summarizes the Company’s utilization of restructuring accruals for the period presented:



(in millions)	Employee Severance			Other
Remaining accrual as of January 1, 2016	$	29		$	1
Restructuring, net	24			21
Impairment of held-for-sale assets	—			(21		)
Cash payments and other	(36		)	—
Remaining accrual as of June 30, 2016	$	17		$	1