General Motors 2013 Annual Report Download - page 125

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
At and For the Year Ended December 31, 2012
GMNA GME GMIO GMSA Corporate Eliminations
Total
Automotive
GM
Financial Eliminations Total
Sales
External customers ........... $ 89,912 $ 20,689 $ 22,954 $ 16,700 $ 40 $ 150,295 $ — $ — $ 150,295
GM Financial revenue ......... ————— —1,961 — 1,961
Intersegment ................ (2) ———— (2)— 2 —
Total net sales and revenue ..... $ 89,910 $ 20,689 $ 22,954 $ 16,700 $ 40 $ 150,293 $ 1,961 $ 2 $ 152,256
Income (loss) before interest and
taxes-adjusted ............. $ 6,470 $ (1,939) $ 2,528 $ 457 $ (400) $ 7,116 $ 744 $ (1) $ 7,859
Adjustments (a) .............. $ (29,052) $ (6,391) $ (288) $ 27 (402) $ (36,106) — $ — (36,106)
Corporate interest income ...... 343 343
Automotive interest expense .... 489 489
Loss on extinguishment of
debt ..................... 250 — 250
Income (loss) before income
taxes ..................... (1,198) 744 (28,643)
Income tax expense (benefit) .... (35,007) 177 $ (1) (34,831)
Net income attributable to
stockholders ............... $ 33,809 $ 567 $ 6,188
Equity in net assets of
nonconsolidated affiliates .... $ 65 $ 51 $ 6,764 $ 3 $ — $ — $ 6,883 $ — $ — $ 6,883
Total assets ................. $ 87,100 $ 9,669 $ 25,032 $ 11,958 $ 16,991 $ (17,006) $ 133,744 $ 16,368 $ (690) $ 149,422
Expenditures for property ...... $ 4,766 $ 1,035 $ 1,225 $ 956 $ 77 $ (4) $ 8,055 $ 13 $ — $ 8,068
Depreciation, amortization and
impairment of long-lived assets
and finite-lived intangible
assets .................... $ 3,663 $ 6,570 $ 638 $ 483 $ 49 $ (1) $ 11,402 $ 225 $ (10) $ 11,617
Equity income and gain on
investments ............... $ 9 $ — $ 1,552 $ 1 $ — $ — $ 1,562 $ — $ — $ 1,562
Valuation allowances against
deferred tax assets (b) ....... $ — $ — $ — $ — $ (36,261) $ — $ (36,261) $ (103) $ — $ (36,364)
(a) Consists of Goodwill impairment charges of $26.4 billion, pension settlement charges of $2.7 billion and income related to various insurance recoveries of $9
million in GMNA; property impairment charges of $3.7 billion, intangible assets impairment charges of $1.8 billion, goodwill impairment charges of $590 million,
impairment charges related to investment in PSA of $220 million, a charge of $119 million to record General Motors Strasbourg S.A.S. assets and liabilities to
estimated fair value and income related to various insurance recoveries of $7 million in GME; GM Korea hourly wage litigation charge of $336 million, goodwill
impairment charges of $132 million, which are presented net of noncontrolling interests, income related to various insurance recoveries of $112 million and income
related to redemption of the GM Korea mandatorily redeemable preferred shares of $68 million in GMIO; income related to various insurance recoveries of $27
million in GMSA; and a charge of $402 million which represents the premium paid to purchase our common stock from the UST in Corporate.
(b) Includes valuation allowance releases of $36.5 billion net of the establishment of new valuation allowances of $0.1 billion. Amounts exclude changes related to
income tax expense (benefits) in jurisdictions with a full valuation allowance throughout the period.
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