General Motors 2010 Annual Report Download - page 166

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following table summarizes the consideration provided under the DMDA and the allocation to its various elements based on
their estimated fair values (dollars in millions):
Successor
October 6, 2009
Net cash paid .................................................................................... $2,656
Waived advance agreements, payment terms acceleration agreement and other administrative claims (a) ........... 966
Wind-down obligations and assumed liabilities ......................................................... 120
Total consideration provided ...................................................................... $3,742
Fair value of Nexteer and four facilities ............................................................... $ 287
Fair value of Class A Membership Interests in New Delphi ............................................... 1,912
Separately acquired assets of Delphi .................................................................. 41
Settlement of obligation to PBGC .................................................................... 387
Settlement of other obligations to Delphi .............................................................. 1,066
Expenses of the transaction ......................................................................... 49
Allocation of fair value to DMDA elements .......................................................... $3,742
(a) Previously advanced amounts of $850 million and value of other administrative claims of $116 million.
The Class A Membership Interests in New Delphi are accounted for using the equity method of accounting.
The following table summarizes the amounts allocated to the fair value of the assets acquired and liabilities assumed of Nexteer and
the four domestic facilities, which are included in the results of our GMNA segment (dollars in millions):
Successor
October 6, 2009
Cash and cash equivalents .......................................................................... $ 40
Accounts and notes receivable, net ................................................................... 541
Inventories ...................................................................................... 245
Other current assets and deferred income taxes ......................................................... 28
Property, net .................................................................................... 202
Deferred income taxes ............................................................................. 39
Other assets ..................................................................................... 3
Goodwill (a) .................................................................................... 61
Accounts payable (principally trade) ................................................................. (316)
Short-term debt and current portion of long-term debt .................................................... (67)
Accrued expenses ................................................................................ (101)
Long-term debt .................................................................................. (10)
Other liabilities and deferred income taxes ............................................................. (364)
Noncontrolling interests ........................................................................... (14)
Fair value of Nexteer and four domestic facilities ..................................................... $287
(a) Goodwill of $61 million recorded in the GMNA reporting unit arises from the difference between the economic value of long-
term employee related liabilities and their recorded amounts at the time of acquisition and deferred taxes. The total amount of
goodwill deductible for tax purposes is expected to be $398 million. The difference between book goodwill and tax goodwill
results from different allocations for tax purposes than that utilized for book purposes.
164 General Motors Company 2010 Annual Report