Document x1yyyoKmaBVN9N93dE34Y748y

D A N A C O R P O R A T IO N / Annual Report 2001 The following summarizes the restructuring charges and activity recorded in the last three years: Balance at December 31, 1998 Employee Termination Benefits $ 116 Long-Lived Asset Impairment $ Exit Costs $ 11 Activity during the year Charges to expense Cash payments Write-off of assets Balance at December 31, 1999 60 59 (85) (59) 91 - 11 (9) 13 Activity during the year Charges to expense Cash payments Write-off of assets Balance at December 31, 2000 62 8 27 (60) (20) (8) 93 - 20 Integration Expenses $ Total $ 127 51 181 (51) (145) (59) - 104 76 173 (76) (156) (8) 113 Activity during the year Charges to expense Cash payments Write-off of assets Balance at December 31, 2001 171 (58) $206 166 (166) $- 53 (20) $ 53 $- 390 (78) (166) $ 259 Employee terminations relating to the plans were as follows: Total estimated Less terminated: 1999 2000 2001 Balance at December 31, 2001 1999 1,280 (595) (615) (30) 40 2000 1,020 2001 7,690 (765) (254) 1 (3,571) 4,119 Note 21. Noncash Investing and Financing Activities In leveraged leases, the issuance of nonrecourse debt financing and subsequent repayments thereof are transacted directly between the lessees and the lending parties to the transactions. Nonrecourse debt issued to finance leveraged leases was $878 in 1999, $403 in 2000 and $163 in 2001; nonrecourse debt obligations repaid were $273 in 1999, $106 in 2000 and $76 in 2001. At December 31, 2001, $259 of restructuring charges remained in accrued liabilities. This balance was comprised of $206 for the reduction of approximately 4,200 employees to be completed in 2002 and $53 for lease terminations and other exit costs. The estimated annual cash expenditures will be approxi mately $120 in 2002, $38 in 2003 and $101 thereafter. Our liquidity and cash flows will be materially impacted by these actions. It is anticipated that our operations over the long term will benefit from these realignment strategies through reduction of overhead and certain material costs. 33