General Motors 2012 Annual Report Download - page 37

GENERAL MOTORS COMPANY AND SUBSIDIARIES
Consolidating Financial Condition
(In millions, except share amounts)
December 31, 2012 December 31, 2011
Automotive
GM
Financial Eliminations Consolidated Automotive
GM
Financial Eliminations Consolidated
ASSETS
Current Assets
Cash and cash equivalents ....................................... $ 17,133 $ 1,289 $ — $ 18,422 $ 15,499 $ 572 $ — $ 16,071
Marketable securities ........................................... 8,988 — — 8,988 16,148 — — 16,148
Restricted cash and marketable securities ........................... 220 466 — 686 206 799 — 1,005
Accounts and notes receivable, net ................................ 10,384 34 (23) 10,395 9,949 52 (37) 9,964
GM Financial finance receivables, net .............................. — 4,089 (45) 4,044 — 3,251 — 3,251
Inventories ................................................... 14,714 — — 14,714 14,324 — — 14,324
Equipment on operating leases, net ................................ 1,782 — — 1,782 2,464 — — 2,464
Deferred income taxes .......................................... 9,369 59 1 9,429 526 1 — 527
Other current assets ............................................ 1,487 60 (11) 1,536 1,131 45 (7) 1,169
Total current assets ............................................. 64,077 5,997 (78) 69,996 60,247 4,720 (44) 64,923
Non-current Assets
Restricted cash and marketable securities ........................... 380 302 — 682 912 316 — 1,228
GM Financial finance receivables, net .............................. — 6,955 (1) 6,954 — 5,911 — 5,911
Equity in net assets of nonconsolidated affiliates ..................... 6,883 — — 6,883 6,790 — — 6,790
Property, net .................................................. 24,144 52 — 24,196 22,957 47 1 23,005
Goodwill ..................................................... 695 1,278 — 1,973 27,741 1,278 — 29,019
Intangible assets, net ........................................... 6,809 — — 6,809 10,013 1 — 10,014
GM Financial equipment on operating leases, net ..................... — 1,703 (54) 1,649 — 809 (24) 785
Deferred income taxes .......................................... 27,883 38 1 27,922 514 (2) — 512
Other assets .................................................. 2,873 43 (558) 2,358 2,686 32 (302) 2,416
Total non-current assets ......................................... 69,667 10,371 (612) 79,426 71,613 8,392 (325) 79,680
Total Assets .................................................... $133,744 $16,368 $(690) $149,422 $131,860 $13,112 $(369) $144,603
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable (principally trade) ............................... $ 25,132 $ 57 $ (23) $ 25,166 $ 24,531 $ 58 $ (38) $ 24,551
Short-term debt and current portion of long-term debt .................
Automotive ................................................. 1,792 — (44) 1,748 1,682 — 1,682
GM Financial ............................................... — 3,770 — 3,770 — 4,118 — 4,118
Accrued liabilities ............................................. 23,168 170 (30) 23,308 22,767 119 (11) 22,875
Total current liabilities .......................................... 50,092 3,997 (97) 53,992 48,980 4,295 (49) 53,226
Non-current Liabilities
Long-term debt ................................................
Automotive ................................................. 3,425 — (1) 3,424 3,613 — — 3,613
GM Financial ............................................... — 7,108 — 7,108 — 4,420 — 4,420
Postretirement benefits other than pensions .......................... 7,309 — — 7,309 6,836 — — 6,836
Pensions ..................................................... 27,420 — — 27,420 25,075 — — 25,075
Other liabilities and deferred income taxes .......................... 13,048 712 (591) 13,169 12,355 406 (319) 12,442
Total non-current liabilities ...................................... 51,202 7,820 (592) 58,430 47,879 4,826 (319) 52,386
Total Liabilities 101,294 11,817 (689) 112,422 96,859 9,121 (368) 105,612
Commitments and contingencies ..................................
Equity
Preferred stock, $0.01 par value ...................................
Series A ................................................... 5,536 — — 5,536 5,536 — — 5,536
Series B ................................................... 4,855 — — 4,855 4,855 — — 4,855
Common stock, $0.01 par value ................................... 14 — — 14 16 — — 16
Capital surplus (principally additional paid-in capital) ................. 23,834 — — 23,834 26,391 — — 26,391
Retained earnings .............................................. 5,503 4,554 — 10,057 3,186 3,998 (1) 7,183
Accumulated other comprehensive loss ............................. (8,048) (3) (1) (8,052) (5,854) (7) — (5,861)
Total stockholders’ equity ....................................... 31,694 4,551 (1) 36,244 34,130 3,991 (1) 38,120
Noncontrolling interests ......................................... 756 — — 756 871 — — 871
Total Equity ................................................... 32,450 4,551 (1) 37,000 35,001 3,991 (1) 38,991
Total Liabilities and Equity ....................................... $133,744 $16,368 $(690) $149,422 $131,860 $13,112 $(369) $144,603
General Motors Company 2012 ANNUAL REPORT34