Restructuring and Asset Impairment Charges |
3 Months Ended |
|---|---|
Apr. 02, 2016 | |
| Restructuring Costs and Asset Impairment Charges [Abstract] | |
| Restructuring and Asset Impairment Charges [Text Block] |
Note 12: Restructuring and Asset Impairment Charges
We had no restructuring and asset impairment charges in the first three months of 2016 due to the completion of our 2013 and 2015 restructuring programs. As of April 2, 2016, the remaining liability associated with both programs is $37 million ($70 million as of December 26, 2015). A substantial majority of this liability is expected to be paid within the next 12 months and was recorded as a current liability. For more information about these programs, please refer to our Annual Report on Form 10-K for the year ended December 26, 2015.
2016 Restructuring Program
On April 19, 2016, subsequent to the end of first quarter of 2016, we announced the 2016 Restructuring Program, designed to align our operations with evolving business needs and improve efficiencies. Under this program, we intend to close certain facilities and reduce up to twelve thousand positions globally. Accordingly, we expect to incur charges of approximately $1.2 billion in the second quarter of 2016. The actions associated with this program are expected to be fully completed by the second quarter of 2017.
|
| X | ||||||||||
- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- References No definition available.
|