General Motors 2010 Annual Report Download - page 79

GENERAL MOTORS COMPANY AND SUBSIDIARIES
The following table summarizes the total funding and funding commitments we repaid to the U.S. and Canadian governments in the
period July 10, 2009 through December 31, 2009 (dollars in millions):
Successor
July 10, 2009
Beginning
Balance
Change in Funding
and Funding
Commitments (a)
December 31, 2009
Total Obligation
Description of Funding Commitment
UST Loan (b) ....................................................... $7,073 $(1,361) $5,712
Canadian Loan ...................................................... 1,292 (59) 1,233
Total .............................................................. $8,365 $(1,420) $6,945
(a) Includes an increase due to a foreign currency exchange loss on the Canadian Loan of $133 million.
(b) Includes $361 million which the UST loaned to Old GM under the warranty program and which was assumed by GM and repaid
on July 10, 2009.
The following table summarizes the total funding and funding commitments Old GM received from the U.S. and Canadian
governments and the additional notes Old GM issued in the period December 31, 2008 through July 9, 2009 (dollars in millions):
Predecessor
December 31, 2008 Through July 9, 2009
Funding and
Funding Commitments
Additional
Notes Issued (a) Total Obligation
Description of Funding Commitment
UST Funding
UST Loan Agreement .............................................. $19,761 $1,172 $20,933
DIP Facility — UST (b) ............................................ 30,100 2,008 32,108
Total UST Funding (c) ........................................... 49,861 3,180 53,041
EDC Funding
EDC funding (d) .................................................. 6,294 161 6,455
DIP Facility — EDC ............................................... 3,200 213 3,413
Total EDC Funding .............................................. 9,494 374 9,868
Total UST and EDC Funding ........................................ $59,355 $3,554 $62,909
(a) Old GM did not receive any proceeds from the issuance of these promissory notes, which were issued as additional compensation
to the UST and EDC.
(b) Includes debt of $361 million, which the UST loaned to Old GM under the warranty program.
(c) UST invested capital totaled $49.5 billion, representing the cumulative amount of cash received by Old GM from the UST under
the UST Loan Agreement and the DIP Facility, excluding $361 million which the UST loaned to Old GM under the warranty
program and which was repaid on July 10, 2009. This balance also does not include amounts advanced under the UST GMAC
Loan as the UST exercised its option to convert this loan into GMAC Preferred Membership Interests previously held by Old
GM in May 2009.
(d) Includes approximately $2.4 billion from the EDC Loan Facility received in the period January 1, 2009 through July 9, 2009 and
funding commitments of CAD $4.5 billion (equivalent to $3.9 billion when entered into) that were immediately converted into
our equity. This funding was received on July 15, 2009.
General Motors Company 2010 Annual Report 77