General Motors 2012 Annual Report Download - page 31

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
The following tables summarize the reconciliation of our automotive segments EBIT-adjusted and GM Financial’s income before
income taxes to Net income attributable to stockholders and provides supplemental detail of the adjustments, which are presented net
of noncontrolling interests (dollars in millions):
Years Ended December 31,
2012 2011 2010
Automotive
EBIT-adjusted
GMNA (a) ...................................... $ 6,953 97.7% $7,194 93.6% $ 5,688 82.4%
GME(a) ........................................ (1,797) (25.3)% (747) (9.7)% (1,953) (28.3)%
GMIO (a) ....................................... 2,191 30.8% 1,897 24.7% 2,262 32.8%
GMSA (a) ....................................... 271 3.8% (122) (1.6)% 818 11.9%
Corporate and eliminations ......................... (502) (7.0)% (540) (7.0)% 86 1.2%
Total automotive EBIT-adjusted ....................... 7,116 100.0% 7,682 100.0% 6,901 100.0%
Adjustments ..................................... (36,106) 861 447
Corporate interest income .......................... 343 455 465
Automotive interest expense ........................ 489 540 1,098
Loss on extinguishment of debt ...................... 250
Automotive Financing
GM Financial income before income taxes ............... 744 622 129
Consolidated
Eliminations ....................................... (1) — —
Income tax expense (benefit) .......................... (34,831) (110) 672
Net income attributable to stockholders ............... $ 6,188 $9,190 $ 6,172
(a) Our automotive operations interest and income taxes are recorded centrally in Corporate; therefore, there are no reconciling items
for our automotive operating segments between EBIT-adjusted and Net income attributable to stockholders.
Year Ended December 31, 2012
GMNA GME GMIO GMSA Corporate Total
Goodwill impairment charges .................................. $(26,399) $ (590) $(132) $— $ — $(27,121)
Impairment charges of property ................................. — (3,714) — — — (3,714)
Impairment charges of intangible assets ........................... — (1,755) — — — (1,755)
Pension settlement charges ..................................... (2,662) — — — — (2,662)
Premium paid to purchase our common stock from the UST .......... — — — — (402) (402)
GM Korea hourly wage litigation ................................ — — (336) — — (336)
Impairment charge related to investment in PSA .................... — (220) — — — (220)
Income related to various insurance recoveries ..................... 9 7 112 27 — 155
Charge to record General Motors Strasbourg S.A.S. (GMS) assets and
liabilities to estimated fair value ............................... — (119) — — — (119)
Noncontrolling interests related to redemption of the GM Korea
mandatorily redeemable preferred shares ........................ — — 68 — — 68
Total adjustments to EBIT ..................................... $(29,052) $(6,391) $(288) $27 $(402) $(36,106)
General Motors Company 2012 ANNUAL REPORT28