Altria estimates total net pre-tax restructuring charges in connection with this program of approximately $300 million, substantially all of which will result in cash expenditures, consisting primarily of employee separation costs of approximately $220 million and other associated net costs of $80 million. Other associated net costs include lease termination and asset impairment charges, partially offset by a curtailment gain related to a post-retirement benefit plan.Altria recorded net pre-tax restructuring charges totaling $264 million over the past four quarters, including restructuring charges of $11 million in the third quarter of 2012. Altria expects to incur the remaining pre-tax restructuring charges in the fourth quarter of 2012.
Altria Reports 2012 Third-Quarter And Nine-Month Results; Reaffirms 2012 EPS Guidance; Expands Share Repurchase Program By $500 Million
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