GM Form 8-K 12052013 Item 2.05
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549-1004
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FORM 8-K
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CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) December 5, 2013
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GENERAL MOTORS COMPANY
(Exact Name of Company as Specified in its Charter)
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001-34960 (Commission File Number) | DELAWARE (State or other jurisdiction of incorporation) | 27-0756180 (I.R.S. Employer Identification No.) |
300 Renaissance Center, Detroit, Michigan (Address of Principal Executive Offices) |
48265-3000 (Zip Code) |
(313) 556-5000
(Company's telephone number, including area code)
Not Applicable
(Former name or former address, if changed since last report)
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the company under any of the following provisions:
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¨ | | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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¨ | | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17-CFR 240.14a-12) |
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¨ | | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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¨ | | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
TABLE OF CONTENTS
ITEM 2.05 Costs Associated with Exit or Disposal Activities
ITEM 2.06 Material Impairments
ITEM 9.01 Financial Statements and Exhibits
Signature
ITEM 2.05 Costs Associated with Exit or Disposal Activities
ITEM 2.06 Material Impairments
On December 5, 2013, General Motors Company (the “Company”) decided to withdraw the Chevrolet brand from Western and Central Europe and expects to record net special charges of $700 million - $1 billion, primarily in the fourth quarter of 2013 and continuing through the first half of 2014. These special charges consist of approximately $300 million for non-cash intangible asset impairments, $200 million - $400 million of cash dealer restructuring costs and $200 million - $300 million of cash sales incentive charges.
On December 5, 2013, the Company issued a press release that provides further details. A copy of the press release is attached to this Current Report as Exhibit 99.1 and is incorporated by reference herein.
ITEM 9.01 Financial Statements and Exhibits
EXHIBITS
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Exhibit No. | Description | Method of Filing |
99.1 | Press Release Announcing Strengthening General Motor's European Brand Strategy | Attached as Exhibit |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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| GENERAL MOTORS COMPANY (Registrant)
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| | /s/ THOMAS S. TIMKO |
Date: December 5, 2013 | By: | Thomas S. Timko Vice President, Controller and Chief Accounting Officer |