General Motors 2015 Annual Report Download - page 106
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Table of Contents
Net sales and revenue $ 106,622
$ 18,704
$ 12,626
$ 7,820
$ 150
$ 145,922
$ 6,454
$ (20)
$ 152,356
Income (loss) before interest and taxes-
adjusted $ 11,026
$ (813)
$ 1,397
$ (622)
$ (1,001)
$ 9,987
$ 837
$ (10)
$ 10,814
Adjustments(a) $ 47
$ (358)
$ (383)
$ (720)
$ (1,785)
$ (3,199)
$ —
$ —
(3,199)
Automotive interest income
169
Automotive interest expense
(443)
Gain on extinguishment of debt
449
Net (loss) attributable to noncontrolling
interests
(72)
Income before income taxes
7,718
Income tax benefit
1,897
Net loss attributable to noncontrolling
interests
72
Net income attributable to stockholders
$ 9,687
Equity in net assets of nonconsolidated
affiliates $ 94
$ 6
$ 8,113
$ 2
$ —
$ —
$ 8,215
$ 986
$ —
$ 9,201
Total assets $ 92,570
$ 13,361
$ 20,555
$ 7,049
$ 20,151
$ (24,083)
$ 129,603
$ 66,081
$ (1,164)
$ 194,520
Expenditures for property $ 5,688
$ 1,070
$ 480
$ 485
$ 66
$ (5)
$ 7,784
$ 90
$ —
$ 7,874
Depreciation and amortization $ 3,745
$ 412
$ 436
$ 268
$ 16
$ (3)
$ 4,874
$ 2,297
$ —
$ 7,171
Impairment charges $ 370
$ 117
$ 324
$ 35
$ —
$ —
$ 846
$ —
$ —
$ 846
Equity income $ 20
$ 2
$ 2,056
$ —
$ —
$ —
$ 2,078
$ 116
$ —
$ 2,194
__________
(a) Consists primarily of net insurance recoveries related to flood damage of $47 million in GMNA; costs related to the change in our business model in Russia of $358 million in GME and $85 million in GMIO, which
is net of noncontrolling interests; asset impairment charges of $297 million related to our Thailand subsidiaries in GMIO; Venezuela currency devaluation charges of $604 million and asset impairment charges of
$116 million related to our Venezuela subsidiaries in GMSA; and charges related to the Ignition Switch Recall including the compensation program of $195 million and various settlements and legal matters of $1.6
billion in Corporate.
Net sales and revenue $ 101,199
$ 22,235
$ 14,392
$ 13,115
$ 151
$ 151,092
$ 4,854
$ (17)
$ 155,929
Income (loss) before interest and taxes-
adjusted $ 6,603
$ (1,369)
$ 1,222
$ (180)
$ (580)
$ 5,696
$ 803
$ (5)
$ 6,494
Adjustments(a) $ (975)
$ (245)
$ (180)
$ (539)
$ (400)
$ (2,339)
$ 12
$ —
(2,327)
Automotive interest income
211
Automotive interest expense
(403)
Gain on extinguishment of debt
202
Net income attributable to noncontrolling
interests
69
Income before income taxes
4,246
Income tax expense
(228)
Net income attributable to noncontrolling
interests
(69)
Net income attributable to stockholders
$ 3,949
Equity in net assets of nonconsolidated
affiliates $ 88
$ 6
$ 8,254
$ 2
$ —
$ —
$ 8,350
$ —
$ —
$ 8,350
Total assets $ 92,864
$ 10,528
$ 22,949
$ 10,066
$ 24,308
$ (29,041)
$ 131,674
$ 47,745
$ (1,918)
$ 177,501
Expenditures for property $ 4,985
$ 887
$ 681
$ 359
$ 127
$ —
$ 7,039
$ 52
$ —
$ 7,091
Depreciation and amortization $ 4,122
$ 325
$ 419
$ 383
$ 75
$ (4)
$ 5,320
$ 918
$ —
$ 6,238
Impairment charges, excluding goodwill $ 254
$ 302
$ 321
$ 3
$ —
$ —
$ 880
$ —
$ —
$ 880
Equity income $ 19
$ (45)
$ 2,120
$ —
$ —
$ —
$ 2,094
$ —
$ —
$ 2,094
__________
(a) Consists of a catch-up adjustment related to the change in estimate for recall campaigns of $874 million and charges related to flood damage, net of insurance recoveries, of $101 million in GMNA; asset impairment
charges of $245 million related to our Russian subsidiaries in GME; asset impairment charges of $158 million related to our Thailand subsidiary in GMIO; Venezuela currency devaluation charges of $419 million
and Goodwill impairment charges of $120 million in GMSA; a charge related to the Ignition Switch Recall compensation program of $400 million in Corporate; and other of $10 million.
102