General Motors 2010 Annual Report Download - page 134

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
in goodwill. Our employee related obligations were recorded in accordance with ASC 712, “Compensation-Nonretirement
Postemployment Benefits” (ASC 712) and ASC 715, “Compensation Benefits” (ASC 715) and deferred income taxes were
recorded in accordance with ASC 740, “Income Taxes” (ASC 740).
(d) The 260 million shares of Series A Preferred Stock, 263 million shares of our common stock, and warrant to acquire 46 million
shares of our common stock issued to the New VEBA on July 10, 2009 were not considered outstanding until the UAW retiree
medical plan was settled on December 31, 2009. The fair value of these instruments was included in the liability recognized at
July 10, 2009 for this plan. The common shares issued to the New VEBA are excluded from common shares outstanding at
July 10, 2009. Refer to Note 20 for a discussion of the termination of our UAW hourly retiree medical plan and Mitigation Plan
and the resulting payment terms to the New VEBA.
132 General Motors Company 2010 Annual Report