General Motors 2013 Annual Report Download - page 115

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
separation programs in GMIO had a total cost of $420 million and had affected a total of 4,100 employees. We expect to complete
these programs in 2017 and incur additional restructuring and other charges of $640 million.
GMSA recorded charges for active separation programs in Brazil. Through December 31, 2013 the active separation programs
related to Brazil had a total cost of $103 million.
Year Ended December 31, 2012
GMNA recorded charges, interest accretion and other and revisions to estimates related to our 2011 UAW labor agreement and
increased production capacity utilization in Canada. Our 2011 UAW labor agreement included cash severance incentive programs
which were completed at March 31, 2012 for skilled trade U.S. hourly employees. A total of 1,400 skilled trade U.S. hourly
employees participated in these programs at a total cost of $99 million which was recorded upon irrevocable acceptances by both
parties. Substantially all of the program cost was recorded in the three months ended March 31, 2012.
GME recorded charges, interest accretion and other and revisions to estimates for previously announced separation and early
retirement programs. Through December 31, 2012 the active separation programs related to Germany and the United Kingdom had a
total cost of $400 million and had affected a total of 2,550 employees, of which $310 million related to a program initiated in
Germany in 2010.
GMIO recorded charges, interest accretion and other related to voluntary separation programs primarily in Korea and Australia.
Through December 31, 2012 these programs had a total cost of $69 million which affected 650 employees.
GMSA recorded charges of $87 million for employee separation costs related to a separation program in Brazil.
Year Ended December 31, 2011
GMNA recorded charges, interest accretion and other primarily related to special attrition programs for skilled trade U.S. hourly
employees, service cost for hourly layoff benefits and Canadian restructuring activities.
GME recorded charges, interest accretion and other for separation programs primarily related to previously announced programs in
Germany. 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.
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.
Withdrawal of the Chevrolet Brand from Europe
In December 2013 we announced our plans to focus our marketing and product portfolio on our Opel and Vauxhall brands in
Western and Central Europe and cease mainstream distribution of Chevrolet brand in those markets in 2015. This decision impacts
1,200 Chevrolet dealers and distributors in the affected countries and 480 Chevrolet Europe employees. In the three months ended
December 31, 2013 we recorded pre-tax charges of $636 million, net of noncontrolling interests of $124 million. These charges
included dealer restructuring costs of $233 million and employee severance costs of $30 million which are reflected in the table
above. The remaining charges for intangible asset impairments of $264 million and sales incentive, inventory related and other costs
of $233 million are not included in the table above. We may incur additional charges for exit costs of up to $300 million primarily
through the first half of 2014. Refer to Note 11 for additional information on the intangible asset impairment charges.
Manufacturing Operations at Holden
In December 2013 we announced plans to cease vehicle and engine manufacturing and significantly reduce engineering operations
at Holden by the end of 2017. Holden will continue to sell imported vehicles through its Holden dealer network and maintain its
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