General Motors 2015 Annual Report Download - page 104
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Table of Contents
Compensation expense $ 446
$ 245
$ 311
Income tax benefit $ 151
$ 81
$ 100
At December 31, 2015 the total unrecognized compensation expense for nonvested equity awards granted was $294 million. This expense is expected to
be recorded over a weighted-average period of 3.3 years. The total fair value of RSUs, PSUs and stock options vested in the years ended December 31, 2015,
2014 and 2013 was $228 million, $221 million and $342 million. In the years ended December 31, 2015, 2014 and 2013 total payments for 1.8 million, 2.4
million and 3.1 million RSUs settled under stock incentive plans were $64 million, $85 million and $94 million.
The following tables summarize supplementary quarterly financial information (dollars in millions, except per share amounts):
Total net sales and revenue $ 35,712
$ 38,180
$ 38,843
$ 39,621
Automotive gross margin $ 3,690
$ 4,073
$ 5,082
$ 4,756
Net income $ 908
$ 1,140
$ 1,341
$ 6,226
Net income attributable to stockholders $ 945
$ 1,117
$ 1,359
$ 6,266
Basic earnings per common share $ 0.58
$ 0.70
$ 0.86
$ 4.03
Diluted earnings per common share $ 0.56
$ 0.67
$ 0.84
$ 3.92
Total net sales and revenue $ 37,408
$ 39,649
$ 39,255
$ 39,617
Automotive gross margin $ 2,188
$ 2,611
$ 3,945
$ 4,266
Net income $ 280
$ 287
$ 1,442
$ 2,009
Net income attributable to stockholders $ 213
$ 278
$ 1,471
$ 1,987
Basic earnings per common share $ 0.08
$ 0.12
$ 0.86
$ 0.69
Diluted earnings per common share $ 0.06
$ 0.11
$ 0.81
$ 0.66
The three months ended December 31, 2015 included the following:
• Income tax benefit of $3.9 billion related to the reversal of deferred tax asset valuation allowances at GME.
• Gain on extinguishment of debt of $449 million related to unsecured debt in Brazil in GMSA on a pre-tax basis.
The three months ended September 30, 2015 included charges for various legal matters of approximately $1.5 billion related to the Ignition Switch Recall
in Corporate on a pre-tax basis.
The three months ended June 30, 2015 included the following on a pre-tax basis:
• Asset impairment charges of $297 million related to our Thailand subsidiaries in GMIO.
• Charge of $604 million for the Venezuela currency devaluation in GMSA.
The three months ended March 31, 2015 included the following on a pre-tax basis:
• Costs related to the change in our business model in Russia of $337 million in GME and $91 million in GMIO.
• Charge of $150 million for Ignition Switch Recall compensation program in Corporate.
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