General Motors 2013 Annual Report Download - page 110

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
India Tavera Emissions Compliance
We have identified an emissions compliance issue with the Tavera produced in India. We have self-reported this issue to local
government authorities and will cooperate with any review they may conduct. It is too early to determine the impact this issue will
have on us or our Indian operations.
Asset Retirement Obligations
Asset retirement obligations relate to legal obligations associated with retirement of tangible long-lived assets that result from
acquisition, construction, development or normal operation of a long-lived asset. An analysis is performed of such obligations
associated with all real property owned or leased, including facilities, warehouses and offices. Estimates of conditional asset
retirement obligations relate, in the case of owned properties, to costs estimated to be necessary for the legally required removal or
remediation of various regulated materials, primarily asbestos. Asbestos abatement was estimated using site-specific surveys where
available and a per square foot estimate where surveys were unavailable. For leased properties such obligations relate to the estimated
cost of contractually required property restoration. At December 31, 2013 and 2012 accruals for asset retirement obligations were
$159 million and $116 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):
2014 2015 2016 2017 2018 Thereafter
Minimum commitments (a) .................................... $ 363 $ 290 $ 225 $ 156 $ 132 $ 499
Sublease income ............................................. (52) (58) (60) (59) (56) (293)
Net minimum commitments .................................... $ 311 $ 232 $ 165 $ 97 $ 76 $ 206
(a) Certain of the leases contain escalation clauses and renewal or purchase options.
Rental expense under operating leases was $477 million, $474 million and $556 million in the years ended December 31, 2013,
2012 and 2011.
Note 18. Income Taxes
The following table summarizes income (loss) before income taxes and equity income and gain on investments (dollars in
millions):
Years Ended December 31,
2013 2012 2011
U.S. income (loss) ................................................................ $ 4,880 $(19,063) $ 2,883
Non-U.S. income (loss) ............................................................ 768 (11,194) 3,102
Income (loss) before income taxes and equity income and gain on investments ................. $ 5,648 $(30,257) $ 5,985
108
2013 ANNUAL REPORT