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Quotes & Info
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| GOOG > SEC Filings for GOOG > Form 8-K/A on 4-Oct-2012 | All Recent SEC Filings |
4-Oct-2012
Costs Associated with Exit or Disposal Activities
As previously reported on August 13, 2012, Google Inc. (Google) expects to incur
certain charges in connection with planned restructuring actions at its
wholly-owned subsidiary Motorola Mobility (Motorola). Motorola has continued to
refine its planned restructuring actions and now expects to broaden those
actions to include additional geographic regions outside of the U.S. Based on
current information, Google expects to incur (1) severance-related charges of
approximately $300 million, which will be recognized in the third quarter of
2012 and of which approximately $250 million is expected to be paid in cash, and
(2) other charges related to facility and market exits, primarily in cash, of
approximately $90 million in 2012 and 2013, of
which approximately $40 million is expected to be recognized in the third
quarter of 2012. Motorola continues to evaluate its plans and further
restructuring actions may occur, which may cause Google to incur additional
restructuring charges, some of which may be significant.
FORWARD-LOOKING STATEMENTS
This Current Report on Form 8-K contains forward-looking statements about our plans for our Motorola business. These statements involve risks and uncertainties, and actual results may differ materially from our expectations. The potential risks and uncertainties that could cause actual results to differ from the results predicted include, among others, whether we will be able to refocus Motorola's product portfolio and complete the consolidation of Motorola's facilities as and when planned, whether the expected timing and amount of the costs associated with these and other actions will meet or exceed our forecasts, whether taking these and other actions to improve the profitability of our Motorola business will meet or exceed our expectations and whether our plans for new product introductions will be successful. Other risks and uncertainties that can affect our performance are included under the captions "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our Annual Report on Form 10-K for the year ended December 31, 2011 and our most recent Quarterly Report on Form 10-Q for the quarter ended June 30, 2012, which are on file with the SEC and are available on our investor relations website at investor.google.com and on the SEC website at www.sec.gov. All information provided in this Current Report on Form 8-K is as of October 4, 2012, and we undertake no duty to update this information unless required by law.
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