General Motors 2011 Annual Report Download - page 169

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Old GM
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):
Predecessor
GMNA GME GMIO GMSA Total
Balance at January 1, 2009 .................................................. $2,456 $468 $ 45 $ 13 $ 2,982
Additions ................................................................ 1,835 20 27 38 1,920
Interestaccretionandother .................................................. 16 11 — — 27
Payments ................................................................ (1,014) (65) (43) (48) (1,170)
Revisions to estimates ...................................................... (401) — — 9 (392)
Effectofforeigncurrency ................................................... 50 (1) 3 4 56
Balance at July 9, 2009 ..................................................... 2,942 433 32 16 3,423
Effect of application of fresh-start reporting ..................................... (37) — — — (37)
Ending balance including effect of application of fresh-start reporting (a) ............. $2,905 $433 $ 32 $ 16 $ 3,386
(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.
GMNA recorded charges, interest accretion and other, and revisions to estimates for separation programs related to the following
initiatives:
• Postemployment benefit charges in the U.S. of $825 million related to 13,000 hourly employees who participated in the 2009
special attrition programs.
• SUB and TSP related charges in the U.S. of $707 million, recorded as an additional liability determined by an actuarial
analysis at the implementation of the SUB and TSP and related suspension of the JOBS Program.
• Revisions to estimates of $401 million to decrease the reserve, primarily related to $335 million for the suspension of the
JOBS Program and $141 million for estimated future wages and benefits due to employees who participated in the 2009
special attrition programs; offset by a net increase of $86 million related to Canadian salaried workforce reductions and other
restructuring initiatives in Canada.
• Separation charges of $250 million for a U.S. salaried severance program to allow 6,000 terminated employees to receive
ongoing wages and benefits for up to 12 months.
• Postemployment benefit charges in Canada of $38 million related to 380 hourly employees who participated in a special
attrition program.
GME recorded charges, interest accretion and other, and revisions to estimates primarily related to separation charges for early
retirement programs and additional liability adjustments, primarily in Germany.
GMIO recorded charges, interest accretion and other, and revisions to estimates primarily related to separation charges in Australia
of $19 million related to a facility idling. The program affects employees who left through December 2009.
GMSA recorded charges, interest accretion and other, and revisions to estimates related to voluntary and involuntary separation
programs in South America affecting 3,300 salaried and hourly employees.
General Motors Company 2011 Annual Report 167