General Motors 2014 Annual Report Download - page 128

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GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
The three months ended December 31, 2014 included the following on a pre-tax basis:
• Gain on extinguishment of debt of $207 million related to unsecured debt in Brazil in GMSA.
• Asset impairment charges of $158 million related to our Thailand subsidiary in GMIO.
The three months ended September 30, 2014 included asset impairment charges of $194 million related to Russian subsidiaries in
GME on a pre-tax basis.
The three months ended June 30, 2014 included the following on a pre-tax basis:
• Recall campaign and courtesy transportation charges of $1.1 billion in GMNA.
• Catch-up adjustment of $874 million related to change in estimate of recall campaigns in GMNA.
• Charge of $400 million for ignition switch recall compensation program in Corporate.
The three months ended March 31, 2014 included the following on a pre-tax basis:
• Recall campaign and courtesy transportation charges of $1.3 billion in GMNA.
• Charge of $419 million for the Venezuela currency devaluation in GMSA.
The three months ended December 31, 2013 included the following on a pre-tax (except tax matters) and pre-noncontrolling
interests basis:
• Benefit from the release of GM Korea wage litigation accruals of $846 million in GMIO.
• Asset impairment charges of $805 million at Holden and GM India in GMIO.
• Charges of $745 million related to our plans to cease mainstream distribution of Chevrolet brand in Europe in GMIO.
• Gain on sale of equity investment in Ally Financial of $483 million in Corporate.
• Goodwill impairment charges of $481 million in GMIO.
• Tax benefit of $473 million from remeasurement of uncertain tax position in Corporate.
• Gain on sale of equity investment in PSA of $152 million in GME.
The three months ended June 30, 2013 included loss on extinguishment of debt of $240 million related to early redemption of
preferred shares at GM Korea in GMIO on a pre-tax and pre-noncontrolling interests basis.
The three months ended March 31, 2013 included a charge of $162 million in GMSA for the Venezuela currency devaluation on a
pre-tax basis. In the three months ended March 31, 2013 we used the two-class method for calculating earnings per share because
Series B Preferred Stock was a participating security.
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