General Motors 2012 Annual Report Download - page 176

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
For the Year Ended December 31, 2010
GMNA GME GMIO GMSA Corporate Eliminations
Total
Automotive
GM
Financial Eliminations Total
Sales
External customers ................. $79,514 $22,868 $17,730 $15,065 $ 134 $ — $135,311 $ — $— $135,311
GM Financial revenue ............... — — — — — — — 281 — 281
Intersegment ...................... 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 (a) ...................... $ 60 $ 189 $ — $ — 198 $ — $ 447 — $— 447
Corporate interest income .............. 465 465
Automotive interest expense ............ 1,098 1,098
Income (loss) before income taxes ....... (244) 129 6,844
Income tax expense ................... 633 39 672
Net income (loss) attributable to
stockholders ....................... $ (877) $ 90 $ 6,172
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, net of tax and gain on
investments ....................... $ 120 $ 11 $ 1,307 $ (2) $ 2 $ — $ 1,438 $ — $— $ 1,438
Significant noncash charges (gains) not
classified as adjustments in (a)
Net contingent Adjustment Shares (b) . . $ — $ — $ — $ — $ (162) $ — $ (162) $ — $— $ (162)
Reversal of valuation allowances against
deferred tax assets (c) .............————(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) 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.
(b) Gain on the reversal of an accrual for Adjustment Shares due to the conclusion that it was no longer probable that unsecured claims of MLC would reach the levels
as defined by the Amended and Restated Master Sale and Purchase Agreement.
(c) Amounts exclude changes related to income tax expense (benefits) in jurisdictions with a full valuation allowance throughout the period.
General Motors Company 2012 ANNUAL REPORT 173