General Motors 2010 Annual Report Download - page 263

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
at an exercise price of $42.31 per share. The number of shares of common stock underlying each of the warrants and the per share
exercise price thereof are subject to adjustment as a result of certain events, including stock splits, reverse stock splits and stock
dividends.
Noncontrolling Interests
In October 2009 we completed our participation in an equity rights offering in GM Daewoo, a majority-owned and consolidated
subsidiary, for Korean Won 491 billion (equivalent to $417 million when entered into). As a result of the participation in the equity
rights offering, our ownership interest in GM Daewoo increased from 50.9% to 70.1%. Funds from our UST escrow account were
utilized for this rights offering.
In December 2009 we acquired the remaining noncontrolling interest of CAMI from Suzuki Motor Corporation for $100 million
increasing our ownership interest from 50% to 100%. This transaction resulted in no charge to Capital surplus.
The table below summarizes the changes in equity resulting from Net loss attributable to common stockholders and transfers from
(to) noncontrolling interests (dollars in millions):
Successor
July 10, 2009
Through
December 31, 2009
Net loss attributable to common stockholders ........................................................ $(4,428)
Increase in capital surplus resulting from GM Daewoo equity rights offering ............................... 108
Changes from net loss attributable to common stockholders and transfers from (to) noncontrolling interests ....... $(4,320)
Accumulated Other Comprehensive Income (Loss)
The following table summarizes the components of Accumulated other comprehensive income (loss), net of taxes (dollars in
millions):
Successor Predecessor
December 31,
2010
December 31,
2009
December 31,
2008
Foreign currency translation gain (loss) ........................................... $ 394 $ 157 $ (2,122)
Cash flow hedging losses, net ................................................... (23) (1) (490)
Net unrealized gain (loss) on securities ........................................... (5) 2 (33)
Defined benefit plans, net ...................................................... 885 1,430 (29,694)
Accumulated other comprehensive income (loss) ................................... $1,251 $1,588 $(32,339)
General Motors Company 2010 Annual Report 261