General Motors 2013 Annual Report Download - page 126

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
For the Year Ended December 31, 2011
GMNA GME GMIO GMSA Corporate Eliminations
Total
Automotive
GM
Financial Eliminations Total
Sales
External customers ......... $ 85,988 $ 25,154 $ 21,031 $ 16,632 $ 61 $ 148,866 $ — $ — $ 148,866
GM Financial revenue ....... ————— —1,410 — 1,410
Intersegment .............. 3———— 3— (3) —
Total net sales and revenue ..... $ 85,991 $ 25,154 $ 21,031 $ 16,632 $ 61 $ 148,869 $ 1,410 $ (3) $ 150,276
Income (loss) before interest and
taxes-adjusted ............. $ 6,779 $ (1,041) $ 2,232 $ 158 $ (446) $ 7,682 $ 622 $ — $ 8,304
Adjustments (a) .............. $ 2,394 $ (1,016) $ (364) $ 63 (216) $ 861 — $ — 861
Corporate interest income ...... 455 455
Automotive interest expense .... 540 540
Income (loss) before income
taxes ..................... (747) 622 9,080
Income tax expense (benefit) .... (295) 185 (110)
Net income (loss) attributable to
stockholders ............... $ (452) $ 437 $ 9,190
Equity in net assets of
nonconsolidated affiliates .... $ 60 $ 50 $ 6,678 $ 2 $ — $ — $ 6,790 $ — $ — $ 6,790
Total assets ................. $ 83,528 $ 15,777 $ 22,130 $ 11,514 $ 30,244 $ (31,333) $ 131,860 $ 13,112 $ (369) $ 144,603
Expenditures for property ...... $ 3,404 $ 1,016 $ 907 $ 880 $ 44 $ (10) $ 6,241 $ 8 $ — $ 6,249
Depreciation, amortization and
impairment of long-lived assets
and finite-lived intangible
assets .................... $ 3,693 $ 1,371 $ 491 $ 454 $ 50 $ (1) $ 6,058 $ 85 $ (2) $ 6,141
Equity income and gain on
investments (b) ............ $ 1,733 $ — $ 1,458 $ 1 $ — $ — $ 3,192 $ — $ — $ 3,192
Reversal of valuation allowances
against deferred tax assets
(c)....................... $ — $ — $ — $ — $ (488) $ — $ (488) $ — $ — $ (488)
(a) Consists of the gain on sale of our New Delphi Class A Membership Interests of $1.6 billion and the gain related to the HCT settlement of $749 million in GMNA;
Goodwill impairment charges of $1.0 billion in GME; Goodwill impairment charges of $258 million and charges related to GM India of $106 million in GMIO;a
gain on extinguishment of debt of $63 million in GMSA; and impairment charges of $555 million related to Ally Financial common stock and a gain on the saleof
Ally Financial preferred stock of $339 million in Corporate.
(b) Includes a gain of $1.6 billion recorded on the sale of our New Delphi Class A Membership Interests. Refer to Note 8 for additional information on the sale of New
Delphi.
(c) Amounts exclude changes related to income tax expense (benefits) in jurisdictions with a full valuation allowance throughout the period.
124
2013 ANNUAL REPORT