General Motors 2011 Annual Report Download - page 28

GENERAL MOTORS COMPANY AND SUBSIDIARIES
GM
In the year ended December 31, 2011 Automotive selling, general and administrative expense increased by $0.7 billion (or 5.8%)
due primarily to: (1) increased advertising and sales promotion expenses of $0.5 billion to support media campaigns and new product
launches; (2) net foreign exchange translation and remeasurement losses of $0.2 billion due to the strengthening of major currencies
against the U.S. Dollar; and (3) charges of $0.1 billion related to a single customer’s default under various commercial supply
agreements; partially offset by (4) legal and other expenses of $0.1 billion primarily related to dealer litigation in 2010 which did not
recur in 2011.
In the year ended December 31, 2010 Automotive selling, general and administrative expense included: (1) advertising and sales
promotion expenses of $5.1 billion to support media campaigns for our products; (2) administrative expenses of $4.4 billion; and
(3) selling and marketing expenses primarily related to dealerships of $1.4 billion.
In the period July 10, 2009 through December 31, 2009 Automotive selling, general and administrative expense included:
(1) administrative expenses of $2.6 billion; (2) advertising and sales promotion expenses of $2.5 billion to support media campaigns
for our products; and (3) selling and marketing expenses primarily related to dealerships of $1.0 billion.
Old GM
In the period January 1, 2009 through July 9, 2009 Automotive selling, general and administrative expense included: (1) charges of
$0.5 billion recorded for dealer wind-down costs; and (2) a curtailment loss of $0.3 billion related to the interim remeasurement of the
U.S. salary defined benefit pension plan; partially offset by (3) positive effects of various cost savings initiatives, the cancellation of
certain sales and promotion contracts as a result of the Chapter 11 Proceedings in the U.S. and overall reductions in advertising and
marketing expenditures.
Other Automotive Expenses, net
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
Year Ended
2011 vs. 2010
Change
Amount %
Other automotive expenses, net . . . . . . . . . . . . . . . . . . $58 $118 $15 $1,235 $(60) (50.8)%
GM
In the year ended December 31, 2011 Other automotive expenses, net was insignificant.
In the year ended December 31, 2010 Other automotive expenses, net included depreciation expense of $0.1 billion related to our
portfolio of automotive retail leases.
In the period July 10, 2009 through December 31, 2009 Other automotive expenses, net included: (1) depreciation expense and
realized losses of $89 million related to the portfolio of automotive retail leases; (2) pension management expenses of $38 million;
partially offset by (3) gains for changes in liabilities related to Saab of $60 million; and (4) recovery of amounts written off of $51
million related to the portfolio of automotive retail leases.
Old GM
In the period January 1, 2009 through July 9, 2009 Other automotive expenses, net included: (1) charges of $0.8 billion primarily
related to the deconsolidation of Saab; (2) charges of $0.2 billion related to Delphi; and (3) depreciation expense of $0.1 billion
related to the portfolio of automotive retail leases.
26 General Motors Company 2011 Annual Report