General Motors 2011 Annual Report Download - page 69
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GENERAL MOTORS COMPANY AND SUBSIDIARIES
The following table summarizes the amounts of automotive foreign currency translation and transaction and remeasurement gains
(losses) (dollars in millions):
Successor
Year Ended
December 31, 2011
Year Ended
December 31, 2010
Foreign currency translation gain (loss) recorded in Accumulated other comprehensive income
(loss) ....................................................................... $(167) $ 235
Gain (loss) resulting from foreign currency transactions and remeasurements recorded in
earnings ..................................................................... $ (56) $(209)
Interest Rate Risk
We are subject to market risk from exposure to changes in interest rates related to certain financial instruments, primarily debt,
capital lease obligations and certain marketable securities.
At December 31, 2011 we did not have any interest rate swap positions to manage interest rate exposures in our automotive
operations.
The following table summarizes our automotive debt by fixed rate and variable rate (dollars in millions):
Successor
December 31, 2011 December 31, 2010
Short-termdebt—fixedrate ...................................................... $ 573 $ 305
Short-term debt — variable rate .................................................... 1,109 1,311
Total short-term debt ............................................................. $1,682 $1,616
Short-term debt — fixed rate denominated in U.S. dollars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 135 $ 96
Short-term debt — fixed rate denominated in foreign currency . . . . . . . . . . . . . . . . . . . . . . . . . . . . 438 209
Totalshort-termdebt—fixedrate .................................................. $ 573 $ 305
Short-term debt — variable rate denominated in U.S. dollars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 192 $ 347
Short-term debt — variable rate denominated in foreign currency . . . . . . . . . . . . . . . . . . . . . . . . . 917 964
Total short-term debt — variable rate ................................................ $1,109 $1,311
Long-term debt — fixed rate ...................................................... $3,536 $2,519
Long-termdebt—variablerate .................................................... 77 495
Total long-term debt ............................................................. $3,613 $3,014
Long-term debt — fixed rate denominated in U.S. dollars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 525 $ 601
Long-term debt — fixed rate denominated in foreign currency ............................ 3,011 1,918
Total long-term debt — fixed rate .................................................. $3,536 $2,519
Long-term debt — variable rate denominated in U.S. dollars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 32 $ 287
Long-term debt — variable rate denominated in foreign currency . . . . . . . . . . . . . . . . . . . . . . . . . 45 208
Totallong-termdebt—variablerate ................................................ $ 77 $ 495
At December 31, 2011 and 2010 the fair value liability of debt and capital leases was $5.5 billion and $4.8 billion. The potential
increase in fair value resulting from a 10% decrease in quoted interest rates would be $152 million and $166 million at December 31,
2011 and 2010.
General Motors Company 2011 Annual Report 67