General Motors 2013 Annual Report Download - page 124

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
At December 31, 2013 we also had equity ownership stakes directly or indirectly in entities through various regional subsidiaries,
primarily in Asia that design, manufacture and market vehicles under the following brands:
• Alpheon • Buick • Chevrolet • Wuling
• Baojun • Cadillac • Jiefang
All intersegment balances and transactions have been eliminated in consolidation.
The following tables summarize key financial information by segment (dollars in millions):
At and For the Year Ended December 31, 2013
GMNA GME GMIO GMSA Corporate Eliminations
Total
Automotive
GM
Financial Eliminations Total
Sales
External customers ........... $ 95,091 $ 20,110 $ 20,263 $ 16,478 $ 150 $ 152,092 $ — $ — $ 152,092
GM Financial revenue ......... ————— —3,344 (9) 3,335
Intersegment ................ 8———— 8— (8) —
Total net sales and revenue ..... $ 95,099 $ 20,110 $ 20,263 $ 16,478 $ 150 $ 152,100 $ 3,344 $ (17) $ 155,427
Income (loss) before interest and
taxes-adjusted ............. $ 7,461 $ (844) $ 1,230 $ 327 $ (494) $ 7,680 $ 898 $ — $ 8,578
Adjustments (a) .............. $ (100) $ 153 $ (1,169) $ (157) 483 $ (790) (15) $ — (805)
Corporate interest income ...... 249 $ (3) 246
Automotive interest expense .... 338 $ (4) 334
Loss on extinguishment of
debt ..................... 212 — 212
Income (loss) before income
taxes ..................... (312) 883 7,473
Income tax expense ........... 1,826 300 $ 1 2,127
Net income (loss) attributable to
stockholders ............... $ (2,138) $ 583 $ 5,346
Equity in net assets of
nonconsolidated affiliates .... $ 74 $ 7 $ 8,009 $ 4 $ — $ — $ 8,094 $ — $ — $ 8,094
Total assets ................. $ 87,978 $ 10,341 $ 23,425 $ 11,488 $ 26,460 $ (29,642) $ 130,050 $ 38,084 $ (1,790) $ 166,344
Expenditures for property ...... $ 5,466 $ 770 $ 772 $ 444 $ 92 $ 5 $ 7,549 $ 16 $ — $ 7,565
Depreciation, amortization and
impairment of long-lived assets
and finite-lived intangible
assets .................... $ 4,216 $ 406 $ 1,806 $ 522 $ 63 $ (1) $ 7,012 $ 498 $ (10) $ 7,500
Equity income and gain on
investments ............... $ 15 $ — $ 1,794 $ 1 $ — $ — $ 1,810 $ — $ — $ 1,810
(a) Consists of pension settlement charges of $56 million and charges related to PSA product development agreement of $49 million in GMNA; gain on sale of equity investment
in PSA of $152 million in GME; property and intangible asset impairment charges of $774 million, costs related to the withdrawal of the Chevrolet brand in Europe of
$621 million and goodwill impairment charges of $442 million, partially offset by GM Korea hourly wage litigation of $577 million and acquisition of GM Korea preferred
shares of $67 million in GMIO, all net of noncontrolling interests; Venezuela currency devaluation of $162 million in GMSA; gain on sale of equity investment in Ally
Financial of $483 million in Corporate; costs related to the withdrawal of the Chevrolet brand in Europe of $15 million in GM Financial; and income related to various
insurance recoveries of $35 million.
122
2013 ANNUAL REPORT