General Motors 2010 Annual Report Download - page 177

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
June 30, 2009
Condensed Consolidated Balance Sheet
Loans held for sale ................................................................................. $ 11,440
Total finance receivables and loans, net ................................................................ $ 87,520
Investment in operating leases, net .................................................................... $ 21,597
Other assets ...................................................................................... $ 22,932
Total assets ....................................................................................... $181,248
Total debt ........................................................................................ $105,175
Accrued expenses and other liabilities .................................................................. $ 41,363
Total liabilities .................................................................................... $155,202
Preferred stock held by UST ......................................................................... $ 12,500
Preferred stock .................................................................................... $ 1,287
Total equity ...................................................................................... $ 26,046
Ally Financial – Preferred and Common Membership Interests
The following tables summarize the activity with respect to the investment in Ally Financial Common and Preferred Membership
Interests for the period Ally Financial was accounted for as a nonconsolidated affiliate (dollars in millions):
Predecessor
Ally Financial
Common
Membership Interests
Ally Financial
Preferred
Membership Interests
Balance at January 1, 2009 .................................................... $ 491 $43
Old GM’s proportionate share of Ally Financial’s losses (a) .......................... (1,130) (7)
Investment in Ally Financial Common Membership Interests ......................... 884 —
Gain on disposition of Ally Financial Common Membership Interests .................. 2,477 —
Conversion of Ally Financial Common Membership Interests ........................ (2,885) —
Other, primarily accumulated other comprehensive loss ............................. 163 —
Balance at June 30, 2009 ..................................................... $ — $36
(a) Due to impairment charges and Old GM’s proportionate share of Ally Financial’s losses, the carrying amount of Old GM’s
investments in Ally Financial Common Membership Interests was reduced to $0. Old GM recorded its proportionate share of
Ally Financial’s remaining losses to its investment in Ally Financial Preferred Membership Interests.
General Motors Company 2010 Annual Report 175