GM Reports Costs of $597 Million

General Motors Corp. said Tuesday that it would report fourth-quarter expenses today of $597 million related to the closing of two plants, its investment in Italian automaker Fiat and the write-off of unidentified assets.

The expenses, which total $1.06 a share, include $136 million for GM’s investment in Fiat, $46 million to close a plant in New Jersey and $32 million to close a van plant in Baltimore, GM spokesman Jerry Dubrowski said. The automaker also will have an expense of $383 million for impairments of “certain product lines,” he said.

The Detroit-based automaker said the expenses combined with gains would result in a net increase in fourth-quarter profit.

GM’s shares fell 36 cents to $36.77 on the New York Stock Exchange.