Restructuring

During the three and nine months ended September 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 the Company's announced cost management initiatives, the Company incurred $105 million of cumulative restructuring expense through September 30, 2016. For the three and nine months ended September 30, 2016, the Company incurred $6 million and $51 million, respectively. The nine month period includes a loss of $21 million on the impairment of a held-for-sale asset related to the exit of a facility. For the three and nine months ended September 30, 2015, the Company incurred approximately $20 million and $40 million in restructuring costs, respectively, primarily related to severance costs.

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



	Three months ended September 30,						Nine months ended September 30,
(in millions)	2016			2015			2016			2015
Global Business Solutions	$	(2	)	$	(9	)	$	(7	)	$	(14	)
Global Financial Solutions	—			(5		)	(2		)	(9		)
Network & Security Solutions	—			(1		)	(2		)	(1		)
Corporate	(4		)	(5		)	(40		)	(16		)
Restructuring, net	$	(6	)	$	(20	)	$	(51	)	$	(40	)

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	28			23
Impairment of held-for-sale assets	—			(21		)
Cash payments and other	(49		)	(3		)
Remaining accrual as of September 30, 2016	$	8		$	—