General Motors 2011 Annual Report Download - page 122

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Note 16. Accrued Liabilities and Other Liabilities and Deferred Income Taxes
Automotive
The following table summarizes the components of Accrued liabilities and Other liabilities and deferred income taxes (dollars in
millions):
Successor
December 31, 2011 December 31, 2010
Current
Dealer and customer allowances, claims and discounts .................................. $ 6,820 $ 6,885
Deposits from rental car companies ................................................. 4,883 5,037
Deferred revenue ................................................................ 1,128 1,104
Policy, product warranty and recall campaigns ........................................ 3,061 2,587
Payrolls and employee benefits excluding postemployment benefits ....................... 1,993 2,141
Taxesotherthanincometaxes ..................................................... 782 1,083
Other ......................................................................... 4,089 5,207
Total accrued liabilities ........................................................... $22,756 $24,044
Non-current
Deferred revenue ................................................................ $ 1,284 $ 753
Policy, product warranty and recall campaigns ........................................ 3,539 4,202
Employee benefits excluding postemployment benefits .................................. 1,380 1,549
Postemployment benefits including facility idling reserves ............................... 1,674 1,574
Deferredincometaxes............................................................ 913 1,207
Other ......................................................................... 3,546 3,736
Total other liabilities and deferred income taxes ....................................... $12,336 $13,021
The following table summarizes activity for policy, product warranty, recall campaigns and certified used vehicle warranty
liabilities (dollars in millions):
Successor Predecessor
Year Ended
December 31,
2011
Year Ended
December 31,
2010
July 10, 2009
Through
December 31, 2009
January 1, 2009
Through
July 9, 2009
Beginning balance ........................................ $6,789 $ 7,030 $ 7,193 $ 8,491
Warranties issued and assumed in period ...................... 3,062 3,204 1,388 1,069
Payments ............................................... (3,740) (3,662) (1,797) (1,851)
Adjustments to pre-existing warranties . . . . . . . . . . . . . . . . . . . . . . . . 565 210 66 (153)
Effect of foreign currency translation ......................... (76) 7 180 63
Liability adjustment, net due to the deconsolidation of Saab (a) .... — — — (77)
Ending balance ........................................... $6,600 $ 6,789 $ 7,030 7,542
Effect of application of fresh-start reporting .................... (349)
Ending balance including effect of application of fresh-start
reporting .............................................. $7,193
(a) In August 2009 Saab’s warranty liability was classified as held for sale at December 31, 2009.
120 General Motors Company 2011 Annual Report