General Motors 2011 Annual Report Download - page 188
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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Predecessor
GMNA GME GMIO GMSA Corporate Eliminations
Total
Automotive
For the Period January 1, 2009 Through
July 9, 2009
Sales
External customers .......................... $23,490 $12,419 $5,194 $5,685 $ 327 $ — $ 47,115
Intersegment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 701 133 1,024 51 — (1,909) —
Total net sales and revenue ...................... $24,191 $12,552 $6,218 $5,736 $ 327 $(1,909) $ 47,115
Income (loss) before interest and income taxes ...... $(11,092) $ (2,815) $ (486) $ (454) $ 127,981 $ 63 $ 113,197
Interestincome ............................... 183 183
Interest expense ............................... 5,428 5,428
Income (loss) before income taxes ................ $122,736 107,952
Income tax expense (benefit) .................... (1,166)
Net income attributable to stockholders ............ $109,118
Expenditures for property ....................... $ 2,282 $ 795 $ 279 $ 137 $ 24 $ — $ 3,517
Depreciation, amortization and impairment of long-
lived assets and finite-lived intangible assets ...... $ 4,759 $ 1,492 $ 386 $ 94 $ 142 $ — $ 6,873
Equity in income of and disposition of interest in Ally
Financial .................................. $ — $ — $ — $ — $ 1,380 $ — $ 1,380
Equity income (loss), net of tax ................... $ (277) $ 3 $ 334 $ — $ 1 $ — $ 61
Significant noncash charges (gains)
Gain on extinguishment of debt ................ $ — $ — $ — $ — $ (906) $ — $ (906)
Loss on extinguishment of UST Ally Financial
Loan .................................... — — — — 1,994 — 1,994
Gain on conversion of UST Ally Financial Loan . . . — — — — (2,477) — (2,477)
Reversal of valuation allowances against deferred
tax assets (a) ............................. — — — — (751) — (751)
Impairment charges related to equipment on
operating leases . . . . . . . . . . . . . . . . . . . . . . . . . . . 11 36 — — 16 — 63
Impairment charges related to long-lived assets . . . . 320 237 7 2 — — 566
Reorganization gains, net (b) ................... — — — — (128,563) — (128,563)
Total significant noncash charges (gains) . . . . . . . . . . . $ 331 $ 273 $ 7 $ 2 $(130,687) $ — $(130,074)
(a) Amounts exclude changes related to income tax benefits in jurisdictions with a full valuation allowance throughout the period.
(b) Refer to Note 32 for additional information on Reorganization gains, net.
186 General Motors Company 2011 Annual Report