General Motors 2012 Annual Report Download - page 159

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Dealer Wind-downs
We market vehicles worldwide through a network of independent retail dealers and distributors. We determined that a reduction in
the number of GMNA dealerships was necessary.
The following table summarizes GMNA’s restructuring reserves related to dealer wind-down agreements (dollars in millions):
Years Ended December 31,
2012 2011 2010
Balance at beginning of period ......................................................... $25 $144 $501
Additions and revisions to estimates .................................................... (5) (8) 7
Payments .......................................................................... (7) (111) (366)
Effect of foreign currency ............................................................. — — 2
Balance at end of period .............................................................. $13 $ 25 $144
Note 23. Interest Income and Other Non-Operating Income, net
The following table summarizes the components of Interest income and other non-operating income, net (dollars in millions):
Years Ended December 31,
2012 2011 2010
Interest income ................................................................... $343 $455 $ 465
Net gains (losses) on derivatives ..................................................... (63) 41 68
Rental income ................................................................... 158 149 164
Dividends and royalties ............................................................ 98 153 213
Other (a) ........................................................................ 309 53 621
Total interest income and other non-operating income, net ................................ $845 $851 $1,531
(a) Amounts in the year ended December 31, 2012 include impairment charges related to the investment in PSA of $220 million,
income related to various insurance recoveries of $168 million, a charge of $119 million in connection with the entry into an
agreement to sell the GMS business, resulting in a reduction in the carrying value to estimated fair value, and recognition of
deferred income from technology agreements with SGMW of $114 million. Amounts in the year ended December 31, 2011
include impairment charges related to the investment in Ally Financial of $555 million, a gain on the sale of Ally Financial
preferred shares of $339 million, and recognition of deferred income from technology agreements with SGMW of $113 million.
Amounts in the year ended December 31, 2010 include a gain on the reversal of an accrual for contingently issuable shares of our
common stock to MLC (Adjustment Shares) of $162 million, a gain on the sale of Saab of $123 million, a gain on the acquisition
of GMS of $66 million and a gain on the sale of Nexteer of $60 million.
Note 24. Stockholders’ Equity and Noncontrolling Interests
Preferred Stock
The following table summarizes significant features relating to our preferred stock (dollars in millions, except for per share amounts):
Liquidation
Preference
Per Share
Dividend
Rate
Per Annum
Dividends Paid Years
Ended December 31,
2012 2011 2010
Series A Preferred Stock .................................................. $25.00 9.00% $621 $621 $810
Series B Preferred Stock .................................................. $50.00 4.75% $238 $243 $ —
General Motors Company 2012 ANNUAL REPORT156