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Subsequent Event | 9 Months Ended
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Sep. 30, 2018
Subsequent Events [Abstract] |
Subsequent Event | Subsequent Events On October 3, 2018, GM Cruise Holdings entered into a Purchase Agreement with Honda Motor Co., Ltd. (Honda), pursuant to which Honda invested $750 million in GM Cruise Holdings in exchange for Class E Common Shares, representing 5.7% of the fully diluted equity of GM Cruise Holdings as of the same date. In addition, Honda agreed to contribute approximately $2.0 billion primarily in the form of a long-term annual fee to GM Cruise Holdings for certain rights to use GM Cruise Holdings' trade names and trademarks and the exclusive right to partner with GM Cruise Holdings to develop, deploy, and maintain a foreign market. The remaining contribution or funding will come in the form of shared development costs for certain components of a shared autonomous vehicle (SAV) that Honda, General Motors Holdings LLC and GM Cruise Holdings will jointly develop for deployment onto GM Cruise's autonomous vehicle network. All proceeds are designated exclusively for working capital and general corporate purposes of GM Cruise. On October 31, 2018 we initiated a voluntary severance program for up to approximately 18,000 of our U.S., Canada and Mexico salaried employees and global executives. Program eligibility is dependent upon mutual agreement between the employee and GM. We are currently unable to estimate the utilization rate of this voluntary program, but we estimate the program will cost approximately $130 million for every 1,800, or about 10%, of candidates who voluntarily separate under the program. We expect the program to conclude and will record a charge in the three months ending December 31, 2018. * * * * * * *

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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