General Motors 2010 Annual Report Download - page 124

GENERAL MOTORS COMPANY AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(In millions, except per share amounts)
Series A
Preferred
Stock
Series B
Preferred
Stock
Common Stockholders’
Noncontrolling
Interests
Comprehensive
Income (Loss)
Total
Equity
(Deficit)
Common
Stock
Capital
Surplus
Retain
Earnings
(Accumulated
Deficit)
Accumulated
Other
Comprehensive
Income (Loss)
Balance July 9, 2009, Predecessor ...... — — 1,018 16,494 38,390 (35,370) 408 20,940
Fresh-start reporting adjustments:
Elimination of predecessor common stock,
capital surplus and accumulated
deficit ............................ — — (1,018) (16,494) (38,390) — — (55,902)
Elimination of accumulated other
comprehensive loss ................. — — — — — 35,370 — 35,370
Issuance of GM common stock .......... — — 12 18,779 — — — 18,791
Balance July 10, 2009 Successor ........ — — 12 18,779 — — 408 19,199
Net income (loss) ..................... — — — — (4,297) — 511 $(3,786) (3,786)
Other comprehensive income (loss) ...
Foreign currency translation gain ....... — — — — — 157 (33) 124
Cash flow hedging losses, net ......... — — — — — (1) — (1)
Unrealized gain on securities .......... — — — — — 2 — 2
Defined benefit plans, net (Note 29) .... — — — — — 1,430 — 1,430
Other comprehensive income (loss) . . . — — — — — 1,588 (33) 1,555 1,555
Comprehensive income (loss) ..... $(2,231)
Common stock related to settlement of
UAW hourly retiree medical plan ...... — — 3 4,933 — — — 4,936
Common stock warrants related to
settlement of UAW hourly retiree
medical plan ....................... — — — 220 — — — 220
Participation in GM Daewoo equity rights
offering ........................... — — — 108 — — (108) —
Purchase of noncontrolling interest in
CAMI ............................ — — — — — — (100) (100)
Cash dividends paid on Series A Preferred
Stock ............................. — — — — (97) — — (97)
Other ............................... — — — — — — 30 30
Balance December 31, 2009, Successor . . — — 15 24,040 (4,394) 1,588 708 21,957
Net income .......................... — — — — 6,172 — 331 $ 6,503 6,503
Other comprehensive income (loss)
Foreign currency translation gain ....... — — — — — 223 (13) 210
Cash flow hedging losses, net ......... — — — — — (22) — (22)
Unrealized loss on securities .......... — — — — — (7) — (7)
Defined benefit plans, net
(Note 29) ....................... — — — — — (545) — (545)
Other comprehensive income (loss) . . . — — — — — (351) (13) (364) (364)
Comprehensive income (loss) ..... $ 6,139
Reclassification of Series A Preferred Stock
to permanent equity ................. 5,536 — — — — — — 5,536
Issuance of Series B Preferred Stock ...... — 4,855 — — — — — 4,855
Dividends declared or paid to
noncontrolling interest ............... — — — — — — (85) (85)
Repurchase of noncontrolling interest
shares ............................ — — — 1 — — (7) (6)
Sale of businesses ..................... — — — — — 14 (18) (4)
Stock-based compensation .............. — — — 216 — — — 216
Effect of adoption of amendments to ASC
810 regarding variable interest entities
(Note 4) .......................... — — — — — — 76 76
Cash dividends paid on Series A
Preferred Stock and Cumulative
dividends on Series B Preferred Stock
and charge related to purchase of
Series A Preferred Stock ........... — — — — (1,512) — — (1,512)
Other ............................... — — — — — — (13) (13)
Balance December 31, 2010, Successor . . $5,536 $4,855 $ 15 $ 24,257 $ 266 $ 1,251 $ 979 $ 37,159
Reference should be made to the notes to consolidated financial statements.
122 General Motors Company 2010 Annual Report