General Motors 2011 Annual Report Download - page 186

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Successor
GMNA GME GMIO GMSA Corporate Eliminations
Total
Automotive
GM
Financial Eliminations Total
At and For the Year Ended December 31,
2010
Sales
External customers .................... $79,514 $22,868 $17,730 $15,065 $ 134 $ — $135,311 $ — $ — $135,311
GM Financial revenue ................. — — — — — — — 281 — 281
Intersegment (a) ...................... 3,521 1,208 2,831 314 — (7,874) — — — —
Total net sales and revenue ................ $83,035 $24,076 $20,561 $15,379 $ 134 $ (7,874) $135,311 $ 281 $ — $135,592
Income (loss) before automotive interest and
income taxes-adjusted .................. $ 5,688 $ (1,953) $ 2,262 $ 818 $ 191 $ (105) $ 6,901 $ 129 $ — $ 7,030
Adjustments (b) ......................... 447
Corporate interest income ................. 465
Automotive interest expense ............... 1,098
Income (loss) before income taxes .......... 6,844
Income tax expense (benefit) .............. 672
Net income attributable to stockholders ...... $ 6,172
Equity in net assets of nonconsolidated
affiliates ............................ $ 2,094 $ 8 $ 6,427 $ — $ — $ — $ 8,529 $ — $ — $ 8,529
Total assets (c) ......................... $76,333 $18,375 $19,655 $12,040 $23,306 $(21,707) $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) not
classified as adjustments in (b)
Net contingent Adjustment Shares ........ $ — $ — $ — $ — $ (162) $ — $ (162) $ — $ — $ (162)
Reversal of valuation allowances against
deferred tax assets (d) ................———— (63) — (63) — — (63)
Impairment charges related to long-lived
assets............................. 234 — 6 — — — 240 — — 240
Impairment charges related to equipment on
operating leases . . . . . . . . . . . . . . . . . . . . . — 49 — — — — 49 — — 49
Total significant noncash charges (gains) . . . . . $ 234 $ 49 $ 6 $ — $ (225) $ — $ 64 $ — $ — $ 64
(a) Presentation of intersegment sales has been adjusted to conform to the current presentation.
(b) Consists of a gain on the sale of Nexteer of $60 million in GMNA, a gain on the sale of Saab of $123 million, a gain on acquisition of GMS of $66 million in GME
and a gain on the extinguishment of the VEBA Notes of $198 million in Corporate.
(c) Intercompany receivables between segments have been eliminated for presentation purposes as these amounts are not expected to be paid.
(d) Amounts exclude changes related to income tax expense (benefits) in jurisdictions with a full valuation allowance throughout the period.
184 General Motors Company 2011 Annual Report