General Motors 2012 Annual Report Download - page 19

GENERAL MOTORS COMPANY AND SUBSIDIARIES
Pursuant to the agreement with the Securities and Exchange Commission (SEC), as described in a no-action letter issued to Old GM by
the SEC Staff on July 9, 2009 regarding our filing requirements, the selected financial data below includes the selected financial data of
Old GM as it is the Predecessor entity solely for accounting and financial reporting purposes. At July 10, 2009 we applied fresh-start
reporting following the guidance in Accounting Standards Codification (ASC) 852, “Reorganizations” (ASC 852). The consolidated
financial statements for the periods ended on or before July 9, 2009 do not include the effect of any changes in the fair value of assets or
liabilities as a result of the application of fresh-start reporting. Our financial information at and for any period after July 10, 2009 is not
comparable to Old GM’s financial information. Selected financial data is summarized in the following table (dollars in millions except
per share amounts):
Successor Predecessor
Years Ended December 31,
July 10, 2009
Through
December 31,
2009
January 1, 2009
Through
July 9, 2009
Year Ended
December 31,
20082012 2011 2010
Income Statement Data:
Total net sales and revenue (a) ........................ $152,256 $150,276 $135,592 $ 57,474 $ 47,115 $148,979
Reorganization gains, net (b) ......................... $ — $ — $ — $ — $128,155 $ —
Income (loss) from continuing operations ............... $ 6,136 $ 9,287 $ 6,503 $ (3,786) $109,003 $ (31,051)
Net (income) loss attributable to noncontrolling interests . . . 52 (97) (331) (511) 115 108
Net income (loss) attributable to stockholders (c) ......... $ 6,188 $ 9,190 $ 6,172 $ (4,297) $109,118 $ (30,943)
Net income (loss) attributable to common stockholders .... $ 4,859 $ 7,585 $ 4,668 $ (4,428) $109,118 $ (30,943)
GM $0.01 par value common stock and Old GM $1-2/3 par
value common stock
Basic earnings (loss) per share: (d)
Net income (loss) attributable to common
stockholders .................................. $ 3.10 $ 4.94 $ 3.11 $ (3.58) $ 178.63 $ (53.47)
Diluted earnings (loss) per share: (d)
Net income (loss) attributable to common
stockholders .................................. $ 2.92 $ 4.58 $ 2.89 $ (3.58) $ 178.55 $ (53.47)
Cash dividends per common share .................... $ — $ — $ — $ — $ — $ 0.50
Balance Sheet Data (as of period end):
Total assets (a) .................................... $149,422 $144,603 $138,898 $136,295 $ 91,039
Automotive notes and loans payable (e)(f) .............. $ 5,172 $ 5,295 $ 4,630 $ 15,783 $ 45,938
GM Financial notes and loans payable (a) ............... $ 10,878 $ 8,538 $ 7,032
Series A Preferred Stock (g) ......................... $ 5,536 $ 5,536 $ 5,536 $ 6,998 $ —
Series B Preferred Stock (h) ......................... $ 4,855 $ 4,855 $ 4,855 $ — $ —
Equity (deficit) (i)(j) ............................... $ 37,000 $ 38,991 $ 37,159 $ 21,957 $ (85,076)
(a) General Motors Financial Company, Inc. (GM Financial) was consolidated effective October 1, 2010.
(b) In the period January 1, 2009 through July 9, 2009 Old GM recorded Reorganization gains, net of $128.2 billion directly
associated with filing of certain of its direct and indirect subsidiaries voluntary petitions for relief under Chapter 11 of the U.S.
Bankruptcy Code in the U.S. Bankruptcy Court for the Southern District of New York, the 363 Sale of Old GM and certain of its
direct and indirect subsidiaries and the application of fresh-start reporting.
(c) In the year ended December 31, 2012 we recorded Goodwill impairment charges of $27.1 billion, the reversal of deferred tax
valuation allowances of $36.3 billion in the U.S. and Canada, pension settlement charges of $2.7 billion and GM Europe (GME)
long-lived asset impairment charges of $5.5 billion.
(d) In the years ended December 31, 2012 and 2011 we used the two-class method for calculating earnings per share as the Series B
Preferred Stock is a participating security due to the applicable market value of our common stock being below $33.00 per
common share. Refer to Note 25 to our consolidated financial statements for additional detail.
General Motors Company 2012 ANNUAL REPORT16