General Motors 2014 Annual Report Download - page 81

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
In the year ended December 31, 2013 GM Financial completed acquisitions of Ally Financial’s European and Latin American
automotive finance operations for an aggregate consideration of $3.3 billion. GM Financial recorded the fair value of the assets
acquired and liabilities assumed on the acquisition dates, which consisted primarily of finance receivables and secured and unsecured
debt with the remaining amount allocated to cash, other assets and liabilities and the residual goodwill recorded of $144 million. In
the year ended December 31, 2014 there were no significant adjustments recorded to these assets acquired or liabilities assumed. The
results of the acquired European and Latin American automotive finance operations are included in GM Financial’s results beginning
on the dates GM Financial completed each acquisition. The unaudited pro forma revenue and net income attributable to stockholders
for the year ended December 31, 2013 had these acquisitions occurred as of January 1, 2012 would be $156.3 billion and $5.5 billion.
On January 2, 2015 GM Financial completed its acquisition of Ally Financial’s 40% equity interest in SAIC-GMAC in China. The
aggregate purchase price was approximately $1.0 billion, subject to certain post-closing adjustments. Also on January 2, 2015 GM
Financial sold a 5% equity interest in SAIC-GMAC to SAICFC, a current shareholder of SAIC-GMAC, for proceeds of
approximately $120 million, subject to certain post-closing adjustments. The valuation of the equity interest acquired was not yet
complete at the time of this filing on Form 10-K because it was not practicable. As a result of these transactions GM indirectly owns
45% of SAIC-GMAC.
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