General Motors 2011 Annual Report Download - page 167

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following table summarizes the reserves related to restructuring and other initiatives (excluding restructuring reserves related to
dealer wind-down agreements) and charges by segment, including postemployment benefit reserves and charges (dollars in millions):
GM
Successor
GMNA GME GMIO GMSA Total
Balance at July 10, 2009 .................................................... $2,905 $ 433 $ 32 $ 16 $ 3,386
Additions ................................................................ 44 37 76 9 166
Interestaccretionandother .................................................. 15 35 — — 50
Payments ................................................................ (994) (61) (109) (19) (1,183)
Revisionstoestimates ...................................................... 30 — 1 (3) 28
Effectofforeigncurrency ................................................... 88 7 3 1 99
Balance at December 31, 2009 (a) ............................................ 2,088 451 3 4 2,546
Additions ................................................................ 50 734 1 2 787
Interestaccretionandother .................................................. 36 114 — — 150
Payments ................................................................ (712) (589) (1) (7) (1,309)
Revisions to estimates ...................................................... (361) (8) — 1 (368)
Effectofforeigncurrency ................................................... 34 (38) — — (4)
Balance at December 31, 2010 (a) ............................................ 1,135 664 3 — 1,802
Additions ................................................................ 82 344 — 80 506
Interestaccretionandother .................................................. 22 105 — 1 128
Payments ................................................................ (366) (395) (2) (68) (831)
Revisionstoestimates ...................................................... 19 (9) — — 10
Effectofforeigncurrency ................................................... (8) (22) — (1) (31)
Balance at December 31, 2011 (a) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 884 $ 687 $ 1 $ 12 $ 1,584
(a) The remaining cash payments related to these reserves for restructuring and other initiatives, including temporary layoff benefits
for GMNA, primarily relate to postemployment benefits to be paid.
Year Ended December 31, 2011
GMNA recorded charges, interest accretion and other and revisions to estimates primarily related to special attrition programs for
skilled trade U.S. hourly employees, service cost for hourly layoff benefits and Canadian restructuring activities.
Our labor agreement includes cash severance incentive programs which may range up to $100 million through March 31, 2012 for
skilled trade U.S. hourly employees that will be included in our restructuring liability upon irrevocable acceptances by both parties.
GME recorded charges, interest accretion and other for separation programs primarily related to previously announced programs in
Germany. Restructuring and early retirement programs in Spain, the U.K. and Belgium were essentially completed in 2010 and we
also initiated a program in Germany in 2010. Through December 31, 2011 these programs had a total cost of $1.1 billion and affected
a total of 6,700 employees and included the December 2010 closure of the Antwerp, Belgium facility. We expect to incur an
additional $100 million to complete these programs, which will affect an additional 500 employees. To the extent these programs
involve voluntary separations, no liabilities are recorded until offers to employees are accepted. If employees are involuntarily
terminated, a liability is recorded at the communication date.
GMSA recorded charges, interest accretion and other for separation programs primarily related to the voluntary separation program
in Brazil implemented in the three months ended December 31, 2011. A total of 900 employees in Brazil participated in the separation
program at a total cost of $74 million. Liabilities were recorded as offers to the employees were irrevocably accepted.
General Motors Company 2011 Annual Report 165