General Motors 2010 Annual Report Download - page 280

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The following tables summarize key financial information by segment (dollars in millions):
Successor
GMNA GME GMIO GMSA Corporate Eliminations
Total
Automotive
GM
Financial (a) Eliminations Total
At and For the Year Ended
December 31, 2010
Sales
External customers ................. $79,514 $22,868 $17,730 $15,030 $ — $ — $135,142 $ — $ — $135,142
Financing operations ................
Revenue ..........................———— — — — 281 — 281
Intersegment ...................... 3,521 1,208 3,740 314 — (8,783) — — — —
Other revenue .....................———35 134 — 169 — — 169
Total net sales and revenue ............. $83,035 $24,076 $21,470 $15,379 $ 134 $ (8,783) $135,311 $ 281 $ — $135,592
Income (loss) before interest and income
taxes ............................ $ 5,748 $ (1,764) $ 2,262 $ 818 $ 389 $ (105) $ 7,348 $ 166 $ — $ 7,514
Corporate interest income .............. 465 — — 465
Interest expense ...................... 1,098 37 — 1,135
Income (loss) before income taxes ....... (244) 129 $ — 6,844
Income tax expense ................... 633 39 672
Net income (loss) attributable to
stockholders ....................... $ (877) $ 90 $ 6,172
Equity in net assets of nonconsolidated
affiliates .......................... $ 2,094 $ 8 $ 6,427 $ — $ — $ — $ 8,529 $ — $ — $ 8,529
Total assets ......................... $76,285 $18,375 $19,655 $12,964 $35,141 $(34,418) $128,002 $10,940 $(44) $138,898
Expenditures for property .............. $ 2,380 $ 634 $ 729 $ 411 $ 46 $ — $ 4,200 $ 2 $ — $ 4,202
Depreciation, amortization and impairment
of long-lived assets and finite-lived
intangible assets ................... $ 4,434 $ 1,476 $ 349 $ 496 $ 168 $ — $ 6,923 $ 7 $ — $ 6,930
Equity income (loss), net of tax ......... $ 120 $ 11 $ 1,307 $ (2) $ 2 $ — $ 1,438 $ — $ — $ 1,438
Significant noncash charges (gains)
Net contingent Adjustment Shares ..... $ — $ — $ — $ — $ (162) $ — $ (162) $ — $ — $ (162)
Gain on acquisition of GMS .......... — (66) — — — — (66) — — (66)
Reversal of valuation allowances against
deferred tax assets (b) .............———— (63) — (63) — — (63)
Impairment charges related to product-
specific tooling assets ............. 234 — 6 — — — 240 — — 240
Impairment charges related to equipment
on operating leases ............... — 49 — — — — 49 — — 49
Total significant noncash charges
(gains) ........................... $ 234 $ (17) $ 6 $ — $ (225) $ — $ (2) $ — $ — $ (2)
(a) The financial information presented for our GM Financial segment includes adjustments made to decrease Income tax expense and increase Net income (loss)
attributable to stockholders by $10 million and increase Total assets by $22 million to record the effect of changes in the valuation allowance on deferred tax assets
that were not applicable to GM Financial on a stand-alone basis.
(b) Amounts exclude changes related to income tax expense (benefit) in jurisdictions with a full valuation allowance throughout the period.
278 General Motors Company 2010 Annual Report