General Motors 2010 Annual Report Download - page 257

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Note 26. Impairments
Automotive
The following table summarizes impairment charges (dollars in millions):
Successor Predecessor
Year Ended
December 31, 2010
July 10, 2009
Through
December 31, 2009
January 1, 2009
Through
July 9, 2009
Year Ended
December 31, 2008
GMNA
Goodwill ............................................ $ — $ — $ — $ 154
Intangibles assets ..................................... — 21 — —
Product-specific tooling assets ........................... 234 1 278 291
Cancelled powertrain programs .......................... — — 42 120
Equity and cost method investments ...................... — 4 28 119
Vehicles leased to rental car companies .................... — — 11 160
Automotive retail leases (a) ............................. — — — 220
Other than temporary impairment charges on debt and equity
securities (b) ....................................... — — — 47
Total GMNA impairment charges ...................... 234 26 359 1,111
GME
Goodwill ............................................ — — — 456
Product-specific tooling assets ........................... — — 237 497
Vehicles leased to rental car companies .................... 49 18 36 222
Total GME impairment charges ........................ 49 18 273 1,175
GMIO
Product-specific tooling assets ........................... 6 1 7 66
Asset impairment charges related to restructuring initiatives . . . — — — 28
Total GMIO impairment charges ....................... 6 1 7 94
GMSA
Product specific tooling assets ........................... — — — 6
Asset impairment charges related to restructuring initiatives . . . — — — 2
Other long-lived assets ................................. — — 2 —
Total GMSA impairment charges ....................... — — 2 8
Corporate
Other than temporary impairment charges on debt and equity
securities (b) ....................................... — — 11 15
Automotive retail leases ................................ — — 16 157
Ally Financial Common Membership Interests .............. — — — 7,099
Ally Financial common stock ............................ — 270 — —
Ally Financial Preferred Membership Interests .............. — — — 1,001
Total Corporate impairment charges .................... — 270 27 8,272
Total impairment charges ............................... $289 $315 $668 $10,660
(a) The year ended December 31, 2008 includes an increase in intersegment residual support and risk sharing reserves of $220
million recorded as a reduction of revenue in GMNA.
(b) Refer to Note 8 and Note 24 for additional information on marketable securities and financial instruments measured at fair value
on a recurring basis.
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