American Express 2009 Annual Report Download - page 109

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NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
AMERICAN EXPRESS COMPANY
(g) The majority of cash payments related to the remaining restructuring liabilities are expected to be completed in 2010, with the exception of
certain smaller amounts related to contractual long-term severance arrangements which are expected to be completed in 2012, and certain
lease obligations which will continue until their expiration in 2018.
The following table summarizes the Company’s restructuring charges, net of adjustments, by reportable segment for the year
ended December 31, 2009, and the cumulative amounts relating to the restructuring programs that were in progress during 2009
and initiated at various dates between 2006 and 2009.
2009
Cumulative Restructuring Expense Incurred to Date on
in-Progress Restructuring Programs
(Millions)
Total Restructuring
Charges net of
adjustments Severance Other Total
USCS $12 $64 $6 $70
ICS 986 5 91
GCS 99 228 30 258
GNMS 21 51 8 59
Corporate & Other(a) 44 160 48 208
Total $185 $589 $97 $686(b)
(a) The Corporate & Other segment includes certain 2009 and 2008 severance and other charges of $6 million and $133 million, respectively,
related to Company-wide support functions which were not allocated to the Company’s operating segments, as these were corporate
initiatives and are consistent with how such charges were reported internally.
(b) As of December 31, 2009, the total expenses to be incurred for previously approved restructuring activities that were in progress are not
expected to be materially different than the cumulative expenses incurred to date for these programs.
107