General Motors 2010 Annual Report Download - page 182

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
(a) In April 2010 the UST Loans and Canadian Loan were paid in full and funds remaining in escrow were no longer subject to
restrictions.
(b) Under the terms of an escrow agreement between GMCL, the EDC and an escrow agent, GMCL established a CAD $1.0 billion
(equivalent to $893 million when entered into) escrow to fund certain of its healthcare obligations.
(c) The Receivables Program provided financial assistance to automotive suppliers by guaranteeing or purchasing certain receivables
payable by us. In April 2010 the Receivable Program was terminated in accordance with its terms.
(d) Includes amounts related to various letters of credit, deposits, escrows and other cash collateral requirements.
Automotive Financing
Cash subject to contractual restrictions and not readily available is classified as restricted cash.
The following table summarizes the components of automotive financing restricted cash (dollars in millions):
Successor
December 31, 2010
Restricted cash — securitization notes payable (a) .................................................... $ 926
Restricted cash — credit facilities (a) ............................................................... 131
Restricted cash — other (b) ...................................................................... 33
Total automotive financing restricted cash ........................................................... $1,090
(a) Cash pledged to support securitization transactions and credit facilities is invested in highly liquid securities with original
maturities of 90 days or less or in highly rated guaranteed investment contracts.
(b) Other restricted cash is pledged in association with derivative transactions.
Note 16. Other Assets
Automotive
The following table summarizes the components of Other assets (dollars in millions):
Successor
December 31,
2010
December 31,
2009
Investment in Ally Financial common stock .................................................. $ 964 $ 970
Investment in Ally Financial preferred stock ................................................. 665 665
Notes receivable (a) ..................................................................... 465 149
Taxes other than income taxes ............................................................ 299 297
Derivative assets ....................................................................... 44 44
Other ................................................................................ 849 498
Total other assets ....................................................................... $3,286 $2,623
(a) At December 31, 2010 a note receivable of $245 million is included related to the sale of GM India. Refer to Note 5 for
additional information.
180 General Motors Company 2010 Annual Report