Segment Reporting

6 Months Ended

Jun. 30, 2014

Segment Reporting [Abstract]

Segment Reporting [Text Block]

Segment Reporting

We analyze the results of our business through the following segments: GMNA, GME, GMIO, GMSA and GM Financial. The chief operating decision maker evaluates the operating results and performance of our automotive segments through income before interest and income taxes, as adjusted for additional amounts, which is presented net of noncontrolling interests, and evaluates GM Financial through income before income taxes, as adjusted for additional amounts. Each segment has a manager responsible for executing our strategies. Our automotive manufacturing operations are integrated within the segments, benefit from broad-based trade agreements and are subject to regulatory requirements, such as Corporate Average Fuel Economy regulations. While not all vehicles within a segment are individually profitable on a fully allocated cost basis, those vehicles are needed in our product mix in order to attract customers to dealer showrooms and to maintain sales volumes for other, more profitable vehicles. Because of these and other factors, we do not manage our business on an individual brand or vehicle basis.

Substantially all of the cars, trucks and parts produced are marketed through retail dealers in North America, and through distributors and dealers outside of North America, the substantial majority of which are independently owned.

In addition to the products sold to dealers for consumer retail sales, cars and trucks are also sold to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies and governments. Sales to fleet customers are completed through the network of dealers and in some cases sold directly to fleet customers. Retail and fleet customers can obtain a wide range of aftersale vehicle services and products through the dealer network, such as maintenance, light repairs, collision repairs, vehicle accessories and extended service warranties.

GMNA primarily meets the demands of customers in North America with vehicles developed, manufactured and/or marketed under the following four brands:

•     Buick •     Cadillac •      Chevrolet •      GMC

The demands of customers outside of North America are primarily met with vehicles developed, manufactured and/or marketed under the following brands:

•     Buick	•     Chevrolet	•      Holden	•      Vauxhall
•     Cadillac	•     GMC	•      Opel

At June 30, 2014 we also had equity ownership stakes directly or indirectly in entities through various regional subsidiaries, primarily in Asia. These companies design, manufacture and market vehicles under the following brands:

•     Alpheon	•     Buick	•     Chevrolet	•      Wuling
•     Baojun	•     Cadillac	•     Jiefang

Our automotive operations' interest income and interest expense are recorded centrally in Corporate. All intersegment balances and transactions have been eliminated in consolidation.

The following tables summarize key financial information by segment (dollars in millions):

	At and For the Three Months Ended June 30, 2014
	GMNA			GME			GMIO			GMSA			Corporate			Eliminations			Total Automotive			GM Financial		Eliminations			Total
Sales
External customers	$	25,671		$	5,974		$	3,602		$	3,177		$	38					$	38,462		$	—	$	—		$	38,462
GM Financial revenue	—			—			—			—			—						—			1,191		(4		)	1,187
Total net sales and revenue	$	25,671		$	5,974		$	3,602		$	3,177		$	38					$	38,462		$	1,191	$	(4	)	$	39,649
Income (loss) before interest and taxes-adjusted	$	1,385		$	(305	)	$	315		$	(81	)	$	(220	)				$	1,094		$	258	$	(1	)	$	1,351
Adjustments(a)	$	(874	)	$	—		$	(12	)	$	—		$	(400	)				$	(1,286	)	$	7	$	—		(1,279		)
Corporate interest income																											52
Automotive interest expense																											(100		)
Net income attributable to noncontrolling interests																											9
Income before income taxes																											$	33
Total assets	$	97,777		$	12,289		$	22,990		$	11,068		$	28,458		$	(34,195	)	$	138,387		$	42,537	$	(1,826	)	$	179,098
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets	$	1,221		$	115		$	162		$	104		$	19		$	(1	)	$	1,620		$	199	$	—		$	1,819

________

(a) Consists of a catch-up adjustment related to the change in estimate for recall campaigns of $874 million in GMNA, a charge related to the ignition switch recall compensation program of $400 million in Corporate and other of $5 million.

	For the Six Months Ended June 30, 2014
	GMNA			GME			GMIO			GMSA			Corporate			Eliminations			Total Automotive			GM Financial		Eliminations			Total
Sales
External customers	$	50,075		$	11,594		$	6,832		$	6,202		$	74					$	74,777		$	—	$	—		$	74,777
GM Financial revenue	—			—			—			—			—						—			2,288		(8		)	2,280
Total net sales and revenue	$	50,075		$	11,594		$	6,832		$	6,202		$	74					$	74,777		$	2,288	$	(8	)	$	77,057
Income (loss) before interest and taxes-adjusted	$	1,942		$	(589	)	$	567		$	(237	)	$	(343	)				$	1,340		$	479	$	(2	)	$	1,817
Adjustments(a)	$	(874	)	$	—		$	(21	)	$	(419	)	$	(400	)				$	(1,714	)	$	8	$	—		(1,706		)
Corporate interest income																											105
Automotive interest expense																											(203		)
Net income attributable to noncontrolling interests																											76
Income before income taxes																											$	89
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets	$	2,313		$	224		$	276		$	205		$	35		$	(2	)	$	3,051		$	375	$	—		$	3,426

________

(a) Consists of a catch-up adjustment related to the change in estimate for recall campaigns of $874 million in GMNA, Venezuela currency devaluation of $419 million in GMSA, a charge related to the ignition switch recall compensation program of $400 million in Corporate and other of $13 million.

	At and For the Three Months Ended June 30, 2013
	GMNA		GME			GMIO		GMSA		Corporate			Eliminations			Total Automotive		GM Financial		Eliminations			Total
Sales
External customers	$	23,489	$	5,606		$	4,798	$	4,308	$	39					$	38,240	$	—	$	—		$	38,240
GM Financial revenue	—		—			—		—		—						—		836		(1		)	835
Intersegment	6		—			—		—		—						6		—		(6		)	—
Total net sales and revenue	$	23,495	$	5,606		$	4,798	$	4,308	$	39					$	38,246	$	836	$	(7	)	$	39,075
Income (loss) before interest and taxes-adjusted	$	1,976	$	(114	)	$	232	$	54	$	(126	)				$	2,022	$	254	$	—		$	2,276
Adjustments(a)	$	37	$	—		$	67	$	—	$	—					$	104	$	—	$	—		104
Corporate interest income																							77
Automotive interest expense																							(61		)
Loss on extinguishment of debt																							(240		)
Net loss attributable to noncontrolling interests																							(26		)
Income before income taxes																							$	2,130
Total assets	$	90,733	$	12,242		$	24,782	$	11,839	$	21,711		$	(27,136	)	$	134,171	$	30,786	$	(1,847	)	$	163,110
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets	$	1,014	$	132		$	191	$	128	$	7		$	(1	)	$	1,471	$	111	$	(4	)	$	1,578

________

(a) Consists of pension settlement credits of $37 million in GMNA and the acquisition of GM Korea preferred shares of $67 million in GMIO.

	For the Six Months Ended June 30, 2013
	GMNA			GME			GMIO		GMSA			Corporate			Eliminations			Total Automotive			GM Financial		Eliminations			Total
Sales
External customers	$	46,468		$	10,878		$	9,164	$	7,999		$	75					$	74,584		$	—	$	—		$	74,584
GM Financial revenue	—			—			—		—			—						—			1,376		(1		)	1,375
Intersegment	6			—			—		—			—						6			—		(6		)	—
Total net sales and revenue	$	46,474		$	10,878		$	9,164	$	7,999		$	75					$	74,590		$	1,376	$	(7	)	$	75,959
Income (loss) before interest and taxes-adjusted	$	3,390		$	(266	)	$	704	$	16		$	(236	)				$	3,608		$	434	$	—		$	4,042
Adjustments(a)	$	(1	)	$	1		$	91	$	(157	)	$	—					$	(66	)	$	—	$	—		(66		)
Corporate interest income																										156
Automotive interest expense																										(152		)
Loss on extinguishment of debt																										(240		)
Net loss attributable to noncontrolling interests																										(16		)
Income before income taxes																										$	3,724
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets	$	1,940		$	247		$	389	$	258		$	23		$	(1	)	$	2,856		$	195	$	(8	)	$	3,043

________

(a) Consists of the acquisition of GM Korea preferred shares of $67 million in GMIO, Venezuela currency devaluation of $162 million in GMSA and other of $29 million.