General Motors 2010 Annual Report Download - page 54

GENERAL MOTORS COMPANY AND SUBSIDIARIES
acquisition of GM Strasbourg (GMS); (8) gain on derivatives of $0.1 billion; and (8) Ally Financial exclusivity fee of $0.1 billion in
GMNA.
In the period July 10, 2009 through December 31, 2009 Interest income and other non-operating income, net included: (1) gains on
foreign currency exchange derivatives of $0.3 billion; (2) interest income earned from investments of $0.2 billion; (3) net rental and
royalty income of $0.2 billion in GMNA; partially offset by (4) liability recorded related to the Adjustment Shares of $0.2 billion.
Old GM
In the period January 1, 2009 through July 9, 2009 Interest income and other non-operating income, net included: (1) interest
income of $0.2 billion earned from investments; (2) gains on derivatives of $0.2 billion related to the return of warrants issued to the
UST; (3) gains on foreign currency exchange derivatives of $0.1 billion; (4) dividends on the investment in Ally Financial Preferred
Membership Interests of $0.1 billion; (5) net rental income of $0.1 billion in GMNA; (6) royalty income of $0.1 billion in GMNA;
and (7) Ally Financial exclusivity fee income of $0.1 billion in GMNA.
In the year ended December 31, 2008 Interest income and other non-operating income, net included: (1) interest income earned
from investments of $0.7 billion; (2) rental income of $0.2 billion; (3) dividends and royalties of $0.2 billion; (4) Ally Financial
exclusivity fee income of $0.1 billion in GMNA; partially offset by (5) impairment charge of $1.0 billion related to our investment in
Ally Financial Preferred Membership Interests.
Gain (Loss) on Extinguishment of Debt
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
Gain (loss) on extinguishment of debt ............................... $196 $(101) $(1,088) $43
GM
In the year ended December 31, 2010 Gain (loss) on extinguishment of debt included a gain of $0.2 billion resulting from our
repayment of the outstanding amount of VEBA Notes of $2.8 billion.
Old GM
In the period January 1, 2009 through July 9, 2009 Loss on extinguishment of debt included a loss of $2.0 billion related to the UST
exercising its option to convert outstanding amounts of the UST Ally Financial Loan into shares of Ally Financial’s Class B Common
Membership Interests. This loss was partially offset by a gain on extinguishment of debt of $0.9 billion related to an amendment to
Old GM’s U.S. term loan.
In the year ended December 31, 2008 Gain (loss) on extinguishment of debt included a gain of $43 million resulting from a
settlement gain recorded for the issuance of 44 million shares of common stock in exchange for $498 million principal amount of Old
GM’s Series D debentures, which were retired and canceled.
Reorganization gains, net
Predecessor
January 1, 2009
Through
July 9, 2009
Reorganization gains, net .......................................................................... $128,155
52 General Motors Company 2010 Annual Report