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Asset Impairment Charges and Exit Costs | 3 Months Ended
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Mar. 31, 2013
Asset Impairment Charges And Exit Costs [Abstract] |
Asset Impairment Charges and Exit Costs | Note 14. Asset Impairment Charges and Exit Costs There were no significant asset impairment charges and exit costs recognized in the quarter ended March 31, 2013. The following table summarizes the Company’s significant asset impairment, exit, and restructuring costs for the three months ended March 31, 2012:
| Three Months Ended
| March 31, 2012
|  | (In millions)
Employee-related costs (1) | $ | 71
Facility exit and other related costs (2) |  | 14
Total asset impairment, exit, and restructuring costs | $ | 85
(1) | These costs primarily consist of one-time termination benefits pro vided to employees who were involuntarily terminated and $34 million for pension and remeasurement charges triggered by an amendment of the Company’s U.S. plans due to the voluntary early retirement program.
(2) | Facility exit and other related costs consist of asset impairment charge s and other costs related to the exit of the Walhalla, ND, ethanol facility.
In January 2012, the Company announced a plan to streamline its organizational structure, reducing its global workforce to enhance the cost structure of the Company. Over 1,200 positi ons, primarily salaried, were eliminated. To help achieve this reduction, the Company offered a voluntary early retirement incentive in the U.S. T hese actions, in concert with other target ed cost reductions, have reduce d the Company’s annual pre-tax expenses by approximately $150 million. The Company achieved a significant portion of the position reductions through the voluntary early retirement incentive in the U.S. and offered severance and outplacement assistance to other affected employees.

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- Definition The entire disclosure for aggregate costs incurred during the period for restructuring, remediation, implementation, integration and asset impairment activities. Description of restructuring activities such as exit and disposal activities, could include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. This would also include disclosure of the charge against earnings resulting from the aggregate write down of all assets from their carrying value to their fair value. + References No definition available. + Details
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