General Motors 2014 Annual Report Download - page 132

Download and view the complete annual report

Please find page 132 of the 2014 General Motors annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 136

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136

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 $ 23,055 $ 20,588 $ 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 $ 23,055 $ 20,588 $ 16,700 $ 40 $ 150,293 $ 1,961 $ 2 $ 152,256
Income (loss) before interest and
taxes-adjusted ............. $ 6,470 $ (1,949) $ 2,538 $ 457 $ (400) $ 7,116 $ 744 $ (1) $ 7,859
Adjustments (a) .............. $ (29,052) $ (6,389) $ (290) $ 27 $ (402) $ (36,106) $ — $ — (36,106)
Automotive interest income ..... 343
Automotive interest expense .... (489)
Loss on extinguishment of
debt ..................... (250)
Net loss attributable to
noncontrolling interests ...... (52)
Loss before income taxes ...... $ (28,695)
Equity in net assets of
nonconsolidated affiliates .... $ 65 $ 159 $ 6,656 $ 3 $ — $ — $ 6,883 $ — $ — $ 6,883
Total assets ................. $ 87,100 $ 10,475 $ 24,147 $ 11,958 $ 16,991 $ (16,927) $ 133,744 $ 16,368 $ (690) $ 149,422
Expenditures for property ...... $ 4,766 $ 1,075 $ 1,185 $ 956 $ 77 $ (4) $ 8,055 $ 13 $ — $ 8,068
Depreciation, amortization and
impairment of long-lived assets
and finite-lived intangible
assets .................... $ 3,663 $ 6,584 $ 624 $ 483 $ 49 $ (1) $ 11,402 $ 225 $ (10) $ 11,617
Equity income ............... $ 9 $ 35 $ 1,517 $ 1 $ — $ — $ 1,562 $ — $ — $ 1,562
Valuation allowances against
deferred tax assets (b) ....... $ — $ — $ — $ — $ (36,261) $ — $ (36,261) $ (103) $ — $ (36,364)
(a) Consists primarily 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 $9 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 $110
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.
Automotive revenue is attributed to geographic areas based on the country in which our subsidiary is located. Automotive
Financing revenue is attributed to the geographic area where the financing is originated. The following table summarizes information
concerning principal geographic areas (dollars in millions):
At and For the Years Ended December 31,
2014 2013 2012
Net Sales &
Revenue
Long-Lived
Assets
Net Sales &
Revenue
Long-Lived
Assets
Net Sales &
Revenue
Long-Lived
Assets
Automotive
U.S. .................................... $ 93,559 $ 18,813 $ 88,784 $ 15,844 $ 85,105 $ 13,520
Non-U.S. ................................ 57,533 12,355 63,308 12,289 65,190 12,425
GM Financial
U.S. .................................... 2,549 5,477 2,233 2,472 1,832 1,112
Non-U.S. ................................ 2,288 1,755 1,102 1,043 129 590
Total consolidated ........................... $ 155,929 $ 38,400 $ 155,427 $ 31,648 $ 152,256 $ 27,647
132