General Motors 2012 Annual Report Download - page 151
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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Contract Cancellations
The following table summarizes contract cancellation charges primarily related to the cancellation of product programs (dollars in
millions):
Years Ended December 31,
2012 2011 2010
GMNA (a) ........................................................................... $ 64 $38 $30
GME ............................................................................... 38 8 3
GMIO .............................................................................. 5 43 —
GMSA .............................................................................. 30 4 —
Total contract cancellations ............................................................. $137 $93 $33
(a) The year ended December 31, 2010 includes favorable changes in estimate on contract cancellations of $30 million.
Noncancelable Operating Leases
The following table summarizes our minimum commitments under noncancelable operating leases having initial terms in excess of
one year, primarily for property (dollars in millions):
2013 2014 2015 2016 2017 Thereafter
Minimum commitments (a) .............................................. $394 $312 $246 $192 $125 $ 595
Sublease income ....................................................... (54) (53) (48) (47) (45) (279)
Net minimum commitments .............................................. $340 $259 $198 $145 $ 80 $ 316
(a) Certain of the leases contain escalation clauses and renewal or purchase options.
The following table summarizes our rental expense under operating leases (dollars in millions):
Years Ended December 31,
2012 2011 2010
Rental expense under operating leases ..................................................... $474 $556 $604
Note 21. Income Taxes
The following table summarizes Income (loss) before income taxes and equity income (dollars in millions):
Years Ended December 31,
2012 2011 2010
U.S. income (loss) ................................................................. $(19,063) $2,883 $2,648
Non-U.S. income (loss) ............................................................. (11,194) 3,102 3,089
Income (loss) before income taxes and equity income ..................................... $(30,257) $5,985 $5,737
General Motors Company 2012 ANNUAL REPORT148