8-K

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

___________________

FORM 8-K

___________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 25, 2023

___________________

GENERAL MOTORS COMPANY

(Exact name of registrant as specified in its charter)

__________________

Delaware	001-34960	27-0756180
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

	300 Renaissance Center,	Detroit,	Michigan	48265	-3000
(Address of principal executive offices)				(Zip Code)

(313) 667-1500

(Registrant's telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

__________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	GM	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

ITEM 2.02 Results of Operations and Financial Condition

On July 25, 2023, General Motors Company (GM) issued a news release and supplemental materials on the subject of its 2023 second quarter consolidated earnings. The news release and supplemental materials are attached as Exhibit 99.1 and Exhibit 99.2.

Charts furnished to securities analysts in connection with GM's 2023 second quarter earnings release are available on GM's website at www.gm.com/investors/earnings-releases.html.

ITEM 9.01 Financial Statements and Exhibits

EXHIBIT

Exhibit	Description
Exhibit 99.1	News Release Dated July 25, 2023
Exhibit 99.2	Financial Highlights Dated July 25, 2023
Exhibit 104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		GENERAL MOTORS COMPANY (Registrant)
	By:	/s/ CHRISTOPHER T. HATTO
Date: July 25, 2023		Christopher T. Hatto, Vice President, Global Business Solutions and Chief Accounting Officer

EX-99.1

For release: Tuesday, July 25, 2023, at 6:30 a.m. ET GM Releases 2023 Second-Quarter Results and Raises Full-Year Earnings Guidance DETROIT – General Motors Co. (NYSE: GM) today reported second-quarter 2023 revenue of $44.7 billion, net income attributable to stockholders of $2.6 billion and EBIT-adjusted of $3.2 billion. The results include a $792 million charge for new commercial agreements GM has with LG Electronics and LG Energy Solution. The charge reflects the conscious decision GM made during the Chevrolet Bolt EV and Bolt EUV recall to serve customers in ways that go beyond traditional remedies, and GM is taking new steps that will reduce its costs and improve EV margins over time. GM is also updating its full-year 2023 guidance for the second consecutive quarter: • U.S. GAAP net income attributable to stockholders of $9.3 billion-$10.7 billion, compared to the previous outlook of $8.4 billion-$9.9 billion • EBIT-adjusted of $12.0 billion-$14.0 billion, compared to the previous outlook of $11.0 billion-$13.0 billion • U.S. GAAP net automotive cash provided by operating activities of $18.0 billion-$21.0 billion, compared to the previous outlook of $16.5 billion-$20.5 billion • Adjusted automotive free cash flow of $7.0 billion-$9.0 billion, compared to the previous outlook of $5.5 billion-$7.5 billion • Capital expenditures of $11 billion-$12 billion, compared to the previous outlook of $11 billion-$13 billion See below for reconciliations of non-GAAP measures to their most directly comparable GAAP measures or visit the GM Investor Relations website for complete details. Downloads • GM Chair and CEO Mary Barra's letter to shareholders • Earnings deck • Detailed quarterly results with year-over-year comparisons Conference Call for Investors and Analysts GM Chair and CEO Mary Barra and GM Chief Financial Officer Paul Jacobson will host a conference call for the investment community at 8:30 a.m. ET today to discuss these results. Those who wish to listen to the call may dial in using the following numbers and passcode: • United States: 1-800-857-9821 • International: +1-517-308-9481 • Conference call passcode: General Motors News Exhibit 99.1

Results Overview Six Months Ended ($M) except where noted June 30, 2023 June 30, 2022 Change % Change Revenue $ 84,732 $ 71,738 $ 12,994 18.1 % Net income attributable to stockholders $ 4,962 $ 4,631 $ 331 7.1 % EBIT-adjusted $ 7,037 $ 6,387 $ 650 10.2 % Net income margin 5.9 % 6.5 % (1.0) ppts (14.5) % EBIT-adjusted margin 8.3 % 8.9 % (0.6) ppts (6.7) % Automotive operating cash flow $ 9,346 $ 5,104 $ 4,242 83.1 % Adjusted automotive free cash flow $ 5,415 $ 1,413 $ 4,002 283.2 % EPS-diluted(a) $ 3.52 $ 2.49 $ 1.03 41.4 % EPS-diluted-adjusted(a) $ 4.12 $ 3.23 $ 0.89 27.6 % GMNA EBIT-adjusted $ 6,769 $ 5,440 $ 1,329 24.4 % GMNA EBIT-adjusted margin 9.7 % 9.3 % 0.6 ppts 6.5 % GMI EBIT-adjusted $ 583 $ 537 $ 46 8.6 % China equity income $ 161 $ 147 $ 14 9.5 % GM Financial EBT-adjusted $ 1,537 $ 2,390 $ (853) (35.7) % __________ (a) EPS-diluted and EPS-diluted-adjusted include a $0.13 impact from revaluation on equity investments in the six months ended March 31, 2022. Three Months Ended ($M) except where noted June 30, 2023 June 30, 2022 Change % Change Revenue $ 44,746 $ 35,759 $ 8,987 25.1 % Net income attributable to stockholders $ 2,566 $ 1,692 $ 874 51.7 % EBIT-adjusted $ 3,234 $ 2,343 $ 891 38.0 % Net income margin 5.7 % 4.7 % 1.0 ppts 21.3 % EBIT-adjusted margin 7.2 % 6.6 % 0.6 ppts 0.9 % Automotive operating cash flow $ 7,114 $ 3,469 $ 3,645 105.1 % Adjusted automotive free cash flow $ 5,548 $ 1,407 $ 4,141 294.3 % EPS-diluted(a) $ 1.83 $ 1.14 $ 0.69 60.5 % EPS-diluted-adjusted(a) $ 1.91 $ 1.14 $ 0.77 67.5 % GMNA EBIT-adjusted $ 3,194 $ 2,299 $ 895 38.9 % GMNA EBIT-adjusted margin 8.6 % 8.0 % 0.6 ppts 7.5 % GMI EBIT-adjusted $ 236 $ 209 $ 27 12.9 % China equity income $ 78 $ (87) $ 165 n.m. GM Financial EBT-adjusted $ 766 $ 1,106 $ (340) (30.7) % __________ (a) EPS-diluted and EPS-diluted-adjusted include a $(0.03) and $(0.05) impact from revaluation on equity investments in the three months ended June 30, 2023 and June 30, 2022. (b) n.m. = not meaningful

General Motors (NYSE:GM) is a global company focused on advancing an all-electric future that is inclusive and accessible to all. At the heart of this strategy is the Ultium battery platform, which powers everything from mass-market to high-performance vehicles. General Motors, its subsidiaries and its joint venture entities sell vehicles under the Chevrolet, Buick, GMC, Cadillac, Baojun and Wuling brands. More information on the company and its subsidiaries, including OnStar, a global leader in safety services and connected vehicle technology, can be found at https://www.gm.com. ### CONTACTS: Jim Cain GM Communications 313-407-2843 james.cain@chevrolet.com Ashish Kohli GM Investor Relations 847-964-3459 ashish.kohli@gm.com David Caldwell GM Communications 586-899-7861 david.caldwell@gm.com Cautionary Note on Forward-Looking Statements: This press release and related comments by management may include “forward-looking statements” within the meaning of the U.S. federal securities laws. Forward-looking statements are any statements other than statements of historical fact and represent our current judgment about possible future events. In making these statements, we rely upon assumptions and analysis based on our experience and perception of historical trends, current conditions, and expected future developments, as well as other factors we consider appropriate under the circumstances. We believe these judgments are reasonable, but these statements are not guarantees of any future events or financial results, and our actual results may differ materially due to a variety of factors, many of which are described in our most recent Annual Report on Form 10-K and our other filings with the U.S. Securities and Exchange Commission. We caution readers not to place undue reliance on forward-looking statements. Forward-looking statements speak only as of the date they are made, and we undertake no obligation to update publicly or otherwise revise any forward-looking statements, whether as a result of new information, future events, or other factors that affect the subject of these statements, except where we are expressly required to do so by law.

Non-GAAP Reconciliations The following table reconciles Net income attributable to stockholders under U.S. GAAP to EBIT-adjusted (dollars in millions): Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Net income attributable to stockholders(a) $ 2,566 $ 1,692 $ 4,962 $ 4,631 Income tax expense (benefit) 522 490 950 462 Automotive interest expense 226 234 460 460 Automotive interest income (251) (73) (479) (123) Adjustments Voluntary separation program(b) — — 875 — Cruise compensation modifications(c) — — — 1,057 Buick dealer strategy(d) 246 — 345 — Patent royalty matters(e) — — — (100) GM Korea wage litigation(f) (76) — — Total adjustments 170 — 1,144 957 EBIT-adjusted $ 3,234 $ 2,343 $ 7,037 $ 6,387 __________ (a) Net of net loss attributable to noncontrolling interests. (b) This adjustment was excluded because it relates to the acceleration of attrition as part of the cost reduction program announced in January 2023, primarily in the United States. (c) This adjustment was excluded because it relates to the one-time modification of Cruise stock incentive awards. (d) These adjustments were excluded because they relate to strategic activities to transition certain Buick dealers out of our dealer network as part of Buick’s EV strategy. (e) These adjustments were excluded because they relate to certain royalties accrued with respect to past-year vehicle sales in the three months ended December 31, 2021, and the resolution of substantially all of these matters in the three months ended March 31, 2022. (f) This adjustment was excluded because it relates to the partial resolution of subcontractor matters in Korea. The following table reconciles diluted earnings per common share under U.S. GAAP to EPS-diluted-adjusted (dollars in millions, except per share amounts): Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Amount Per Share Amount Per Share Amount Per Share Amount Per Share Diluted earnings per common share $ 2,540 $ 1.83 $ 1,666 $ 1.14 $ 4,908 $ 3.52 $ 3,653 $ 2.49 Adjustments(a) 170 0.12 — — 1,144 0.82 957 0.65 Tax effect on adjustments(b) (60) (0.04) — — (299) (0.21) (296) (0.20) Tax adjustments(c) — — — — — — (482) (0.33) Deemed dividend adjustment(d) — — — — — — 909 0.62 EPS-diluted-adjusted $ 2,650 $ 1.91 $ 1,666 $ 1.14 $ 5,753 $ 4.12 $ 4,741 $ 3.23 __________ (a) Refer to the reconciliation of Net income attributable to stockholders under U.S. GAAP to EBIT-adjusted for adjustment details. (b) The tax effect of each adjustment is determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates.

(c) This adjustment consists of tax benefit related to the release of a valuation allowance against deferred tax assets considered realizable as a result of Cruise tax reconsolidation in the six months ended June 30, 2022. This adjustment was excluded because significant impacts of valuation allowances are not considered part of our core operations. (d) This adjustment consists of a deemed dividend related to the redemption of Cruise preferred shares from SoftBank in the six months ended June 30, 2022. The following table reconciles net automotive cash provided by operating activities under U.S. GAAP to adjusted automotive free cash flow (dollars in millions): Three Months Ended Six Months Ended June 30, 2023 June 30, 2022 June 30, 2023 June 30, 2022 Net automotive cash provided by operating activities $ 7,114 $ 3,469 $ 9,346 $ 5,104 Less: Capital expenditures (2,136) (2,073) (4,544) (3,717) Add: Buick dealer strategy 316 — 355 — Add: Employee separation costs 253 — 258 — Add: GM Korea wage litigation — 10 — 26 Adjusted automotive free cash flow $ 5,548 $ 1,407 $ 5,415 $ 1,413 Guidance Reconciliations The following table reconciles expected Net income attributable to stockholders under U.S. GAAP to expected EBIT-adjusted (dollars in billions): Year Ending December 31, 2023 Net income attributable to stockholders $ 9.3-10.7 Income tax expense 1.6-2.2 Automotive interest expense, net 0.0 Adjustments(a) 1.1 EBIT-adjusted $ 12.0-14.0 __________ (a) Refer to the reconciliation of Net income attributable to stockholders under U.S. GAAP to EBIT-adjusted for the details of each individual adjustment. We do not consider the potential future impact of adjustments on our expected financial results. The following table reconciles expected automotive net cash provided by operating activities under U.S. GAAP to expected adjusted automotive free cash flow (dollars in billions): Year Ending December 31, 2023 Net automotive cash provided by operating activities $ 17.4-20.4 Less: Capital expenditures 11.0-12.0 Adjustments 0.6 Adjusted automotive free cash flow(a) $ 7-9 __________ (a) We do not consider the potential future impact of adjustments on our expected financial results.

EX-99.2

Exhibit 99.2

General Motors Company and Subsidiaries

Supplemental Material1

(Unaudited)

General Motors Company's (GM) non-GAAP measures include: earnings before interest and taxes (EBIT)-adjusted, presented net of noncontrolling interests; earnings before income taxes (EBT)-adjusted for our General Motors Financial Company, Inc. (GM Financial) segment; earnings per share (EPS)-diluted-adjusted; effective tax rate-adjusted (ETR-adjusted); return on invested capital-adjusted (ROIC-adjusted) and adjusted automotive free cash flow. GM's calculation of these non-GAAP measures may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related U.S. GAAP measures.

These non-GAAP measures allow management and investors to view operating trends, perform analytical comparisons and benchmark performance between periods and among geographic regions to understand operating performance without regard to items we do not consider a component of our core operating performance. Furthermore, these non-GAAP measures allow investors the opportunity to measure and monitor our performance against our externally communicated targets and evaluate the investment decisions being made by management to improve ROIC-adjusted. Management uses these measures in its financial, investment and operational decision-making processes, for internal reporting and as part of its forecasting and budgeting processes. Further, our Board of Directors uses certain of these, and other measures, as key metrics to determine management performance under our performance-based compensation plans. For these reasons, we believe these non-GAAP measures are useful for our investors.

EBIT-adjusted EBIT-adjusted is presented net of noncontrolling interests and is used by management and can be used by investors to review our consolidated operating results because it excludes automotive interest income, automotive interest expense and income taxes as well as certain additional adjustments that are not considered part of our core operations. Examples of adjustments to EBIT include, but are not limited to, impairment charges on long-lived assets and other exit costs resulting from strategic shifts in our operations or discrete market and business conditions, and certain costs arising from legal matters. For EBIT-adjusted and our other non-GAAP measures, once we have made an adjustment in the current period for an item, we will also adjust the related non-GAAP measure in any future periods in which there is an impact from the item. Our corresponding measure for our GM Financial segment is EBT-adjusted because interest income and interest expense are part of operating results when assessing and measuring the operational and financial performance of the segment.

EPS-diluted-adjusted EPS-diluted-adjusted is used by management and can be used by investors to review our consolidated diluted EPS results on a consistent basis. EPS-diluted-adjusted is calculated as net income attributable to common stockholders-diluted less adjustments noted above for EBIT-adjusted and certain income tax adjustments divided by weighted-average common shares outstanding-diluted. Examples of income tax adjustments include the establishment or reversal of significant deferred tax asset valuation allowances.

ETR-adjusted ETR-adjusted is used by management and can be used by investors to review the consolidated effective tax rate for our core operations on a consistent basis. ETR-adjusted is calculated as Income tax expense less the income tax related to the adjustments noted above for EBIT-adjusted and the income tax adjustments noted above for EPS-diluted-adjusted divided by Income before income taxes less adjustments. When we provide an expected adjusted effective tax rate, we do not provide an expected effective tax rate because the U.S. GAAP measure may include significant adjustments that are difficult to predict.

ROIC-adjusted ROIC-adjusted is used by management and can be used by investors to review our investment and capital allocation decisions. We define ROIC-adjusted as EBIT-adjusted for the trailing four quarters divided by ROIC-adjusted average net assets, which is considered to be the average equity balances adjusted for average automotive debt and interest liabilities, exclusive of finance leases; average automotive net pension and other postretirement benefits (OPEB) liabilities; and average automotive net income tax assets during the same period.

Adjusted automotive free cash flow Adjusted automotive free cash flow is used by management and can be used by investors to review the liquidity of our automotive operations and to measure and monitor our performance against our capital allocation program and evaluate our automotive liquidity against the substantial cash requirements of our automotive operations. We measure adjusted automotive free cash flow as automotive operating cash flow from operations less capital expenditures adjusted for management actions. Management actions can include voluntary events such as discretionary contributions to employee benefit plans or nonrecurring specific events such as a closure of a facility that are considered special for EBIT-adjusted purposes.

________

1 Certain columns and rows may not add due to rounding.

1

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

The following table reconciles Net income attributable to stockholders under U.S. GAAP to segment profit (loss) (dollars in millions):

	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Net income attributable to stockholders(a)	$	2,566	$	1,692	$	4,962	$	4,631
Income tax expense (benefit)	522		490		950		462
Automotive interest expense	226		234		460		460
Automotive interest income	(251)		(73)		(479)		(123)
Adjustments
Voluntary separation program(b)	—		—		875		—
Cruise compensation modifications(c)	—		—		—		1,057
Buick dealer strategy(d)	246		—		345		—
Patent royalty matters(e)	—		—		—		(100)
GM Korea wage litigation(f)	(76)		—		(76)		—
Total adjustments	170		—		1,144		957
EBIT-adjusted	3,234		2,343		7,037		6,387
Operating segments
GM North America (GMNA)	3,194		2,299		6,769		5,440
GM International (GMI)	236		209		583		537
Cruise	(611)		(543)		(1,172)		(868)
GM Financial(g)	766		1,106		1,537		2,390
Total operating segments	3,585		3,072		7,717		7,499
Corporate and eliminations(h)	(351)		(728)		(680)		(1,112)
EBIT-adjusted	$	3,234	$	2,343	$	7,037	$	6,387

__________

(a)Net of net loss attributable to noncontrolling interests.

(b)This adjustment was excluded because it relates to the acceleration of attrition as part of the cost reduction program announced in January 2023, primarily in the United States.

(c)This adjustment was excluded because it relates to the one-time modification of Cruise stock incentive awards.

(d)These adjustments were excluded because they relate to strategic activities to transition certain Buick dealers out of our dealer network as part of Buick’s EV strategy.

(e)This adjustment was excluded because it relates to the resolution of substantially all royalty matters accrued with respect to past-year vehicle sales in the three months ended March 31, 2022.

(f)This adjustment was excluded because it relates to the partial resolution of subcontractor matters in Korea.

(g)GM Financial amounts represent EBT-adjusted.

(h)GM's automotive interest income and interest expense, legacy costs from the Opel/Vauxhall Business (primarily pension costs), corporate expenditures and certain nonsegment specific revenues and expenses are recorded centrally in Corporate.

2

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

The following table reconciles diluted earnings per common share under U.S. GAAP to EPS-diluted-adjusted (dollars in millions, except per share amounts):

	Three Months Ended								Six Months Ended
	June 30, 2023				June 30, 2022				June 30, 2023				June 30, 2022
	Amount		Per Share		Amount		Per Share		Amount		Per Share		Amount		Per Share
Diluted earnings per common share	$	2,540	$	1.83	$	1,666	$	1.14	$	4,908	$	3.52	$	3,653	$	2.49
Adjustments(a)	170		0.12		—		—		1,144		0.82		957		0.65
Tax effect on adjustments(b)	(60)		(0.04)		—		—		(299)		(0.21)		(296)		(0.20)
Tax adjustments(c)	—		—		—		—		—		—		(482)		(0.33)
Deemed dividend adjustment(d)	—		—		—		—		—		—		909		0.62
EPS-diluted-adjusted	$	2,650	$	1.91	$	1,666	$	1.14	$	5,753	$	4.12	$	4,741	$	3.23

________

(a)Refer to the reconciliation of Net income attributable to stockholders under U.S. GAAP to segment profit (loss) for adjustment details.

(b)The tax effect of each adjustment is determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates.

(c)This adjustment consists of tax benefit related to the release of a valuation allowance against deferred tax assets that are considered realizable as a result of Cruise tax reconsolidation in the six months ended June 30, 2022. This adjustment was excluded because significant impacts of valuation allowances are not considered part of our core operations.

(d)This adjustment consists of a deemed dividend related to the redemption of Cruise preferred shares from SoftBank Vision Fund (AIV M2) L.P. (SoftBank) in the six months ended June 30, 2022.

The following table reconciles our effective tax rate under U.S. GAAP to ETR-adjusted (dollars in millions):

	Three Months Ended												Six Months Ended
	June 30, 2023						June 30, 2022						June 30, 2023						June 30, 2022
	Income before income taxes		Income tax expense (benefit)		Effective tax rate		Income before income taxes		Income tax expense (benefit)		Effective tax rate		Income before income taxes		Income tax expense (benefit)		Effective tax rate		Income before income taxes		Income tax expense (benefit)		Effective tax rate
Effective tax rate	$	3,029	$	522	17.2	%	$	2,132	$	490	23.0	%	$	5,803	$	950	16.4	%	$	4,912	$	462	9.4	%
Adjustments(a)	170		60				—		—				1,144		299				1,053		296
Tax adjustments(b)			—						—						—						482
ETR-adjusted	$	3,199	$	582	18.2	%	$	2,132	$	490	23.0	%	$	6,947	$	1,249	18.0	%	$	5,965	$	1,240	20.8	%

________

(a)Refer to the reconciliation of Net income attributable to stockholders under U.S. GAAP to segment profit (loss) for adjustment details. These adjustments include Net income attributable to noncontrolling interests where applicable. The tax effect of each adjustment is determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates.

(b)Refer to the reconciliation of diluted earnings per common share under U.S. GAAP to EPS-diluted-adjusted for adjustment details.

3

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

We define return on equity (ROE) as Net income attributable to stockholders for the trailing four quarters divided by average equity for the same period. Management uses average equity to provide comparable amounts in the calculation of ROE. The following table summarizes the calculation of ROE (dollars in billions):

	Four Quarters Ended
	June 30, 2023			June 30, 2022
Net income attributable to stockholders	$	10.3		$	8.8
Average equity(a)	$	70.5		$	62.4
ROE	14.6		%	14.1		%

________

(a)Includes equity of noncontrolling interests where the corresponding earnings (loss) are included in Net income attributable to stockholders.

The following table summarizes the calculation of ROIC-adjusted (dollars in billions):

	Four Quarters Ended
	June 30, 2023			June 30, 2022
EBIT-adjusted(a)	$	15.1		$	12.1
Average equity(b)	$	70.5		$	62.4
Add: Average automotive debt and interest liabilities (excluding finance leases)	17.3			16.8
Add: Average automotive net pension & OPEB liability	8.0			12.1
Less: Average automotive and other net income tax asset	(20.7)			(21.6)
ROIC-adjusted average net assets	$	75.0		$	69.7
ROIC-adjusted	20.2		%	17.4		%

________

(a)Refer to the reconciliation of Net incomeattributable to stockholders under U.S. GAAP to segment profit (loss) for adjustment details.

(b)Includes equity of noncontrolling interests where the corresponding earnings (loss) are included in EBIT-adjusted.

4

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

The following table reconciles Net automotive cash provided by operating activities under U.S. GAAP to adjusted automotive free cash flow (dollars in millions):

	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Net automotive cash provided by operating activities	$	7,114	$	3,469	$	9,346	$	5,104
Less: Capital expenditures	(2,136)		(2,073)		(4,544)		(3,717)
Add: Buick dealer strategy	316		—		355		—
Add: Employee separation costs	253		—		258		—
Add: GM Korea wage litigation	—		10		—		26
Adjusted automotive free cash flow	$	5,548	$	1,407	$	5,415	$	1,413

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

	GMNA		GMI		Corporate		Eliminations		Total Automotive		Cruise		GM Financial		Reclassifications/Eliminations		Total
Three Months Ended June 30, 2023
Net sales and revenue	$	37,220	$	3,955	$	79	$	—	$	41,254	$	26	$	3,498	$	(31)	$	44,746
Expenditures for property	$	2,014	$	114	$	7	$	—	$	2,136	$	15	$	10	$	90	$	2,251
Depreciation and amortization	$	1,531	$	144	$	5	$	—	$	1,680	$	10	$	1,245	$	—	$	2,936
Impairment charges	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Equity income (loss)(a)(b)	$	31	$	77	$	—	$	—	$	108	$	—	$	37	$	—	$	145
	GMNA		GMI		Corporate		Eliminations		Total Automotive		Cruise		GM Financial		Reclassifications/Eliminations		Total
Three Months Ended June 30, 2022
Net sales and revenue	$	28,760	$	3,807	$	47	$	—	$	32,614	$	25	$	3,146	$	(26)	$	35,759
Expenditures for property	$	1,894	$	178	$	1	$	—	$	2,073	$	87	$	9	$	—	$	2,168
Depreciation and amortization	$	1,476	$	131	$	6	$	—	$	1,613	$	12	$	1,218	$	—	$	2,844
Impairment charges	$	11	$	—	$	—	$	—	$	11	$	—	$	—	$	—	$	11
Equity income (loss)(a)	$	(6)	$	(89)	$	—	$	—	$	(95)	$	—	$	50	$	—	$	(45)
	GMNA		GMI		Corporate		Eliminations		Total Automotive		Cruise		GM Financial		Reclassifications/Eliminations		Total
Six Months Ended June 30, 2023
Net sales and revenue	$	70,108	$	7,682	$	110	$	—	$	77,900	$	51	$	6,841	$	(60)	$	84,732
Expenditures for property	$	4,274	$	262	$	7	$	—	$	4,544	$	32	$	16	$	91	$	4,683
Depreciation and amortization	$	2,959	$	266	$	10	$	—	$	3,235	$	15	$	2,496	$	—	$	5,746
Impairment charges	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Equity income (loss)(a)(b)	$	(15)	$	157	$	—	$	—	$	142	$	—	$	78	$	—	$	220
	GMNA		GMI		Corporate		Eliminations		Total Automotive		Cruise		GM Financial		Reclassifications/Eliminations		Total
Six Months Ended June 30, 2022
Net sales and revenue	$	58,216	$	7,120	$	100	$	—	$	65,437	$	51	$	6,302	$	(52)	$	71,738
Expenditures for property	$	3,415	$	299	$	3	$	—	$	3,717	$	91	$	18	$	2	$	3,829
Depreciation and amortization	$	2,980	$	265	$	11	$	—	$	3,256	$	25	$	2,454	$	—	$	5,735
Impairment charges	$	11	$	—	$	—	$	—	$	11	$	—	$	—	$	—	$	11
Equity income (loss)(a)	$	—	$	143	$	—	$	—	$	144	$	—	$	104	$	—	$	247

________

(a)Includes Automotive China equity income of $78 million and $(87) million in the three months ended June 30, 2023 and 2022 and $161 million and $147 million in the six months ended June 30, 2023 and 2022.

(b)Equity earnings related to Ultium Cells Holdings LLC are presented in Automotive and other cost of sales as this entity is integral to the operations of our business by providing battery cells for our electric vehicles. In the three and six months ended June 30, 2023, equity earnings related to Ultium Cells Holdings LLC were insignificant.

5

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

Vehicle Sales

GM presents both wholesale and total vehicle sales data to assist in the analysis of our revenue and our market share. Wholesale vehicle sales data consists of sales to GM's dealers and distributors as well as sales to the U.S. Government and excludes vehicles sold by our joint ventures. Wholesale vehicle sales data correlates to GM's revenue recognized from the sale of vehicles, which is the largest component of Automotive net sales and revenue. In the six months ended June 30, 2023, 27.8% of GM's wholesale vehicle sales volume was generated outside the U.S. The following table summarizes wholesale vehicle sales by automotive segment (vehicles in thousands):

	Three Months Ended		Six Months Ended
	June 30, 2023	June 30, 2022	June 30, 2023	June 30, 2022
GMNA	833	662	1,556	1,356
GMI	147	155	288	292
Total	979	817	1,844	1,648

Total vehicle sales data represents: (1) retail sales (i.e., sales to consumers who purchase new vehicles from dealers or distributors); (2) fleet sales (i.e., sales to large and small businesses, governments and daily rental car companies); and (3) certain vehicles used by dealers in their business. Total vehicle sales data includes all sales by joint ventures on a total vehicle basis, not based on our percentage ownership interest in the joint venture. Certain joint venture agreements in China allow for the contractual right to report vehicle sales of non-GM trademarked vehicles by those joint ventures, which are included in the total vehicle sales we report for China. While total vehicle sales data does not correlate directly to the revenue GM recognizes during a particular period, we believe it is indicative of the underlying demand for GM's vehicles. Total vehicle sales data represents management's good faith estimate based on sales reported by GM's dealers, distributors, and joint ventures, commercially available data sources such as registration and insurance data, and internal estimates and forecasts when other data is not available.

6

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

The following table summarizes industry and GM total vehicle sales and GM's related competitive position by geographic region (vehicles in thousands):

	Three Months Ended								Six Months Ended
	June 30, 2023				June 30, 2022				June 30, 2023				June 30, 2022
	Industry	GM	Market Share		Industry	GM	Market Share		Industry	GM	Market Share		Industry	GM	Market Share
North America
United States	4,236	692	16.3	%	3,605	582	16.2	%	7,910	1,295	16.4	%	7,007	1,095	15.6	%
Other	922	113	12.3	%	809	105	12.9	%	1,715	217	12.6	%	1,502	193	12.8	%
Total North America	5,158	805	15.6	%	4,414	687	15.6	%	9,625	1,512	15.7	%	8,509	1,288	15.1	%
Asia/Pacific, Middle East and Africa
China(a)	6,099	526	8.6	%	5,107	484	9.5	%	11,205	988	8.8	%	10,852	1,097	10.1	%
Other	4,957	144	2.9	%	4,714	142	3.0	%	10,494	252	2.4	%	9,974	265	2.7	%
Total Asia/Pacific, Middle East and Africa	11,057	670	6.1	%	9,821	626	6.4	%	21,700	1,240	5.7	%	20,826	1,362	6.5	%
South America
Brazil	526	78	14.7	%	512	66	12.8	%	998	149	14.9	%	917	116	12.6	%
Other	343	31	8.9	%	395	42	10.6	%	725	65	9.0	%	785	82	10.4	%
Total South America	869	108	12.5	%	907	107	11.8	%	1,723	214	12.4	%	1,702	197	11.6	%
Total in GM markets	17,083	1,584	9.3	%	15,142	1,420	9.4	%	33,048	2,966	9.0	%	31,037	2,847	9.2	%
Total Europe	4,238	1	—	%	3,595	—	—	%	8,326	1	—	%	7,056	1	—	%
Total Worldwide(b)(c)	21,322	1,584	7.4	%	18,736	1,421	7.6	%	41,374	2,967	7.2	%	38,093	2,848	7.5	%
United States
Cars	843	68	8.0	%	737	56	7.6	%	1,549	128	8.3	%	1,409	103	7.3	%
Trucks	1,137	342	30.0	%	983	313	31.8	%	2,134	639	29.9	%	1,887	600	31.8	%
Crossovers	2,255	283	12.5	%	1,884	213	11.3	%	4,228	528	12.5	%	3,711	392	10.6	%
Total United States	4,236	692	16.3	%	3,605	582	16.2	%	7,910	1,295	16.4	%	7,007	1,095	15.6	%
China(a)
SGMS		240				205				413				468
SGMW		286				279				576				629
Total China	6,099	526	8.6	%	5,107	484	9.5	%	11,205	988	8.8	%	10,852	1,097	10.1	%

__________

(a)Includes sales by the Automotive China JVs: SAIC General Motors Sales Co., Ltd. (SGMS) and SAIC GM Wuling Automobile Co., Ltd. (SGMW).

(b)Cuba, Iran, North Korea, Sudan and Syria are subject to broad economic sanctions. Accordingly, these countries are excluded from industry sales data and corresponding calculation of market share.

(c)As of March 2022, GM is no longer importing vehicles or parts to Russia, Belarus and certain sanctioned provinces in Ukraine.

As discussed above, total vehicle sales and market share data provided in the table above includes fleet vehicles. Certain fleet transactions, particularly sales to daily rental car companies, are generally less profitable than retail sales to end customers. The following table summarizes estimated fleet sales and those sales as a percentage of total vehicle sales (vehicles in thousands):

	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
GMNA	196		148		373		290
GMI	118		91		208		162
Total fleet sales	314		239		581		452
Fleet sales as a percentage of total vehicle sales	19.8	%	16.8	%	19.6	%	15.9	%

North America capacity two-shift utilization 102.7  % 96.7  % 99.3  % 96.4  %

7

General Motors Company and Subsidiaries

Combining Income Statement Information

(In millions) (Unaudited)

	Three Months Ended June 30, 2023										Three Months Ended June 30, 2022
	Automotive		Cruise		GM Financial		Reclassifications/Eliminations		Combined		Automotive		Cruise		GM Financial		Reclassifications/Eliminations		Combined
Net sales and revenue
Automotive	$	41,254	$	26	$	—	$	(26)	$	41,254	$	32,614	$	25	$	—	$	(25)	$	32,614
GM Financial	—		—		3,498		(5)		3,493		—		—		3,146		(1)		3,145
Total net sales and revenue	41,254		26		3,498		(31)		44,746		32,614		25		3,146		(26)		35,759
Costs and expenses
Automotive and other cost of sales	36,059		574		—		(1)		36,632		28,765		496		—		(1)		29,261
GM Financial interest, operating and other expenses	—		—		2,768		—		2,768		—		—		2,089		—		2,089
Automotive and other selling, general and administrative expense	2,434		125		—		(1)		2,558		2,160		134		—		—		2,293
Total costs and expenses	38,493		698		2,768		(2)		41,958		30,925		630		2,089		(1)		33,643
Operating income (loss)	2,761		(673)		729		(29)		2,789		1,689		(605)		1,057		(25)		2,116
Automotive interest expense	226		8		—		(8)		226		234		—		—		—		234
Interest income and other non-operating income, net	308		29		—		21		358		262		5		—		28		295
Equity income (loss)	71		—		37		—		108		(95)		—		50		—		(45)
Income (loss) before income taxes	$	2,914	$	(651)	$	766	$	—	$	3,029	$	1,623	$	(600)	$	1,106	$	3	$	2,132
Income tax expense (benefit)									522										490
Net income (loss)									2,507										1,642
Net loss (income) attributable to noncontrolling interests									59										50
Net income (loss) attributable to stockholders									$	2,566									$	1,692
Net income (loss) attributable to common stockholders									$	2,540									$	1,666

	Six Months Ended June 30, 2023										Six Months Ended June 30, 2022
	Automotive		Cruise		GM Financial		Reclassifications/Eliminations		Combined		Automotive		Cruise		GM Financial		Reclassifications/Eliminations		Combined
Net sales and revenue
Automotive	$	77,900	$	51	$	—	$	(51)	$	77,900	$	65,437	$	51	$	—	$	(50)	$	65,437
GM Financial	—		—		6,841		(9)		6,832		—		—		6,302		(2)		6,301
Total net sales and revenue	77,900		51		6,841		(60)		84,732		65,437		51		6,302		(52)		71,738
Costs and expenses
Automotive and other cost of sales	67,775		1,105		—		(2)		68,879		56,987		1,628		—		(1)		58,614
GM Financial interest, operating and other expenses	—		—		5,381		(1)		5,380		—		—		4,015		(1)		4,015
Automotive and other selling, general and administrative expense	4,872		234		—		(1)		5,105		4,266		532		—		—		4,797
Total costs and expenses	72,647		1,340		5,381		(4)		79,364		61,252		2,159		4,015		(2)		67,426
Operating income (loss)	5,253		(1,289)		1,459		(56)		5,367		4,184		(2,108)		2,287		(50)		4,313
Automotive interest expense	460		10		—		(10)		460		460		2		—		(2)		460
Interest income and other non-operating income, net	661		60		—		46		767		754		3		—		55		812
Equity income (loss)	52		—		78		—		129		144		—		104		—		247
Income (loss) before income taxes	$	5,506	$	(1,239)	$	1,537	$	—	$	5,803	$	4,622	$	(2,107)	$	2,390	$	7	$	4,912
Income tax expense (benefit)									950										462
Net income (loss)									4,853										4,449
Net loss (income) attributable to noncontrolling interests									109										181
Net income (loss) attributable to stockholders									$	4,962									$	4,631
Net income (loss) attributable to common stockholders									$	4,908									$	3,653

8

General Motors Company and Subsidiaries

Basic and Diluted Earnings per Share

(Unaudited)

The following table summarizes basic and diluted earnings per share (in millions, except per share amounts):

	Three Months Ended				Six Months Ended
	June 30, 2023		June 30, 2022		June 30, 2023		June 30, 2022
Basic earnings per share
Net income (loss) attributable to stockholders	$	2,566	$	1,692	$	4,962	$	4,631
Less: cumulative dividends on subsidiary preferred stock(a)	(27)		(26)		(53)		(978)
Net income (loss) attributable to common stockholders	$	2,540	$	1,666	$	4,908	$	3,653
Weighted-average common shares outstanding	1,385		1,458		1,390		1,458
Basic earnings per common share	$	1.83	$	1.14	$	3.53	$	2.51
Diluted earnings per share
Net income (loss) attributable to common stockholders – diluted	$	2,540	$	1,666	$	4,908	$	3,653
Weighted-average common shares outstanding – diluted	1,389		1,465		1,396		1,468
Diluted earnings per common share	$	1.83	$	1.14	$	3.52	$	2.49
Potentially dilutive securities(b)	24		10		24		10

__________

(a)Includes a$909 milliondeemed dividend related to the redemption of Cruise preferred shares from SoftBank in the six months ended June 30, 2022.

(b)Potentially dilutive securities attributable to outstanding stock options, Restricted Stock Units (RSUs) and Performance Stock Units (PSUs) at June 30, 2023 and outstanding stock options and RSUs at June 30, 2022,were excluded from the computation ofdiluted earnings per share (EPS) because the securities would have had an antidilutive effect.

9

General Motors Company and Subsidiaries

Combining Balance Sheet Information

(In millions, except per share amounts) (Unaudited)

	June 30, 2023										December 31, 2022
	Automotive		Cruise		GM Financial		Reclassifications/Eliminations		Combined		Automotive		Cruise		GM Financial		Reclassifications/Eliminations		Combined
ASSETS
Current Assets
Cash and cash equivalents	$	15,976	$	1,915	$	5,182	$	—	$	23,074	$	13,629	$	1,519	$	4,005	$	—	$	19,153
Marketable debt securities	9,341		215		—		—		9,556		10,760		1,390		—		—		12,150
Accounts and notes receivable, net(a)	12,826		1		2,223		(981)		14,068		11,910		—		2,114		(691)		13,333
GM Financial receivables, net	—		—		34,585		(145)		34,440		—		—		33,811		(188)		33,623
Inventories	17,915		1		—		(4)		17,912		15,369		—		—		(2)		15,366
Other current assets(b)	1,944		400		5,789		(378)		7,755		2,009		347		4,912		(442)		6,825
Total current assets	58,001		2,532		47,779		(1,508)		106,804		53,677		3,256		44,842		(1,324)		100,451
Non-current Assets
GM Financial receivables, net	—		—		44,420		(219)		44,201		—		—		40,702		(112)		40,591
Equity in net assets of nonconsolidated affiliates	8,397		—		1,667		—		10,064		8,511		—		1,665		—		10,176
Property, net	47,651		153		138		—		47,941		45,011		98		140		—		45,248
Goodwill and intangible assets, net	2,869		727		1,354		—		4,950		2,877		727		1,341		—		4,945
Equipment on operating leases, net	—		—		31,560		—		31,560		—		—		32,701		—		32,701
Deferred income taxes	20,123		1,389		(872)		—		20,640		20,348		1,108		(917)		—		20,539
Other assets(c)	8,531		288		1,129		(276)		9,672		7,995		322		1,069		—		9,386
Total non-current assets	87,570		2,557		79,396		(495)		169,029		84,742		2,254		76,702		(112)		163,586
Total Assets	$	145,572	$	5,089	$	127,175	$	(2,003)	$	275,833	$	138,419	$	5,510	$	121,544	$	(1,436)	$	264,037
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable (principally trade)(a)	$	29,701	$	141	$	921	$	(963)	$	29,800	$	27,307	$	146	$	712	$	(679)	$	27,486
Short-term debt and current portion of long-term debt
Automotive	585		21		—		(162)		444		2,144		13		—		(198)		1,959
GM Financial	—		—		36,224		—		36,224		—		—		36,819		—		36,819
Cruise	—		3		—		(3)		—		—		2		—		(2)		—
Accrued liabilities(b)	19,773		528		6,328		(380)		26,249		18,662		612		6,081		(445)		24,910
Total current liabilities	50,059		694		43,473		(1,508)		92,718		48,113		772		43,612		(1,324)		91,173
Non-current Liabilities
Long-term debt
Automotive(c)	15,976		281		—		(276)		15,981		15,879		6		—		—		15,885
GM Financial	—		—		65,394		—		65,394		—		—		60,036		—		60,036
Cruise	—		219		—		(219)		—		—		112		—		(112)		—
Postretirement benefits other than pensions	4,148		—		—		—		4,148		4,193		—		—		—		4,193
Pensions	5,672		—		7		—		5,680		5,692		—		6		—		5,698
Other liabilities	12,962		437		2,540		—		15,938		11,927		465		2,375		—		14,767
Total non-current liabilities	38,758		937		67,941		(495)		107,142		37,691		583		62,417		(112)		100,579
Total Liabilities	88,817		1,632		111,415		(2,003)		199,861		85,804		1,356		106,029		(1,436)		191,752
Noncontrolling interest - Cruise Stock Incentive Awards	—		287		—		—		287		—		357		—		—		357
Equity
Common stock, $0.01 par value	14		—		—		—		14		14		—		—		—		14
Additional paid-in capital(d)	25,939		115		1,374		(1,349)		26,078		26,313		90		1,433		(1,409)		26,428
Retained earnings	36,679		1,163		15,673		1		53,517		32,054		1,766		15,429		1		49,251
Accumulated other comprehensive loss	(6,666)		1		(1,287)		—		(7,953)		(6,552)		(2)		(1,348)		—		(7,901)
Total stockholders’ equity	55,965		1,278		15,760		(1,348)		71,655		51,829		1,855		15,515		(1,407)		67,792
Noncontrolling interests(d)	790		1,892		—		1,348		4,030		786		1,942		—		1,407		4,135
Total Equity	56,755		3,170		15,760		—		75,685		52,615		3,797		15,515		—		71,927
Total Liabilities and Equity	$	145,572	$	5,089	$	127,175	$	(2,003)	$	275,833	$	138,419	$	5,510	$	121,544	$	(1,436)	$	264,037

_________

(a)Eliminations primarily include: GM Financial accounts and notes receivable from Automotive of $605 million offset by Automotive accounts payable and Automotive accounts receivable from GM Financial of $318 million offset by GM Financial accounts payable at June 30, 2023; and GM Financial accounts and notes receivable of $495 million offset by Automotive accounts payable and Automotive accounts receivable of $115 million offset by GM Financial accounts payable at December 31, 2022.

(b)Eliminations primarily related to intercompany asset transfers between Automotive and Cruise for AV capital.

(c)Eliminations related to deferral agreement between Cruise and Automotive as regards engineering and capital spending incurred by Automotive on behalf of Cruise resulting in a long term payable for Cruise offset by a long term receivable for Automotive.

(d)Primarily reclassification of GM Financial Cumulative Perpetual Preferred Stock, Series A, B and C. The preferred stock is classified as noncontrolling interests in our condensed consolidated balance sheet.

10

General Motors Company and Subsidiaries

Combining Cash Flow Information

(In millions) (Unaudited)

	Six Months Ended June 30, 2023										Six Months Ended June 30, 2022
	Automotive		Cruise		GM Financial		Reclassifications/Eliminations		Combined		Automotive		Cruise		GM Financial		Reclassifications/Eliminations		Combined
Cash flows from operating activities
Net income (loss)	$	4,508	$	(781)	$	1,126	$	—	$	4,853	$	3,717	$	(1,076)	$	1,801	$	7	$	4,449
Depreciation and impairment of Equipment on operating leases, net	—		—		2,476		—		2,476		—		—		2,427		—		2,427
Depreciation, amortization and impairment charges on Property, net	3,236		15		20		—		3,270		3,267		26		27		—		3,320
Foreign currency remeasurement and transaction (gains) losses	144		—		4		—		148		76		—		(1)		—		75
Undistributed earnings of nonconsolidated affiliates, net	271		—		(78)		—		193		(123)		—		(77)		—		(201)
Pension contributions and OPEB payments	(458)		—		—		—		(458)		(401)		—		—		—		(401)
Pension and OPEB income, net	(42)		—		1		—		(41)		(602)		—		1		—		(602)
Provision (benefit) for deferred taxes	391		(458)		25		—		(42)		699		(1,032)		411		—		79
Change in other operating assets and liabilities(a)(c)	1,296		285		(163)		(1,140)		278		(1,529)		1,305		(2,223)		(1,473)		(3,919)
Net cash provided by (used in) operating activities	9,346		(940)		3,411		(1,140)		10,677		5,104		(776)		2,366		(1,465)		5,228
Cash flows from investing activities
Expenditures for property	(4,544)		(32)		(16)		(91)		(4,683)		(3,717)		(91)		(18)		(2)		(3,829)
Available-for-sale marketable securities, acquisitions	(2,354)		(374)		—		—		(2,727)		(3,684)		(1,920)		—		—		(5,605)
Available-for-sale marketable securities, liquidations	3,838		1,566		—		—		5,404		2,197		1,646		—		(4)		3,838
Purchases of finance receivables, net(a)	—		—		(18,189)		380		(17,810)		—		—		(18,021)		792		(17,229)
Principal collections and recoveries on finance receivables	—		—		13,921		2		13,922		—		—		13,763		(103)		13,660
Purchases of leased vehicles, net	—		—		(6,834)		—		(6,834)		—		—		(6,203)		—		(6,203)
Proceeds from termination of leased vehicles	—		—		6,673		—		6,673		—		—		7,549		—		7,549
Other investing activities(b)	(1,031)		—		1		261		(770)		(4,484)		—		(21)		4,096		(409)
Net cash provided by (used in) investing activities	(4,091)		1,161		(4,445)		551		(6,824)		(9,689)		(366)		(2,951)		4,778		(8,227)
Cash flows from financing activities
Net increase (decrease) in short-term debt	(4)		—		74		—		70		16		—		999		—		1,015
Proceeds from issuance of debt (original maturities greater than three months)	10		97		26,224		(97)		26,235		1		9		23,594		(9)		23,596
Payments on debt (original maturities greater than three months)	(1,582)		(14)		(22,237)		21		(23,812)		(68)		—		(22,192)		(4)		(22,264)
Payment to purchase common stock	(869)		—		—		—		(869)		—		—		—		—		—
Issuance (redemptions) of subsidiary preferred stock(b)	—		235		—		(235)		—		—		1,960		—		(4,087)		(2,127)
Dividends paid(c)	(252)		—		(959)		900		(311)		(8)		(53)		(809)		790		(81)
Other financing activities	(243)		(136)		(91)		—		(470)		(303)		(511)		(84)		(3)		(901)
Net cash provided by (used in) financing activities	(2,938)		183		3,010		588		843		(362)		1,404		1,508		(3,312)		(762)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	46		—		62		—		108		(80)		—		14		—		(66)
Net increase (decrease) in cash, cash equivalents and restricted cash	2,363		404		2,038		—		4,805		(5,025)		263		936		—		(3,827)
Cash, cash equivalents and restricted cash at beginning of period	13,746		1,526		6,676		—		21,948		14,774		1,584		7,183		—		23,542
Cash, cash equivalents and restricted cash at end of period	$	16,109	$	1,930	$	8,715	$	—	$	26,753	$	9,749	$	1,847	$	8,119	$	—	$	19,715

_________

(a)Includes reclassifications of $0.2 billion and $0.6 billion in the six months ended June 30, 2023 and 2022 for purchases/collections of wholesale finance receivables resulting from vehicles sold by GM to dealers that have arranged their inventory floor plan financing through GM Financial.

(b)Includes eliminations of $0.2 billion and $2.0 billion in the six months ended June 30, 2023 and 2022 for Automotive investment in Cruise and reclassifications of $2.1 billion in the six months ended June 30, 2022 for redemption of Cruise preferred shares from SoftBank.

(c)Eliminations include dividends issued by GM Financial to Automotive in the six months ended June 30, 2023 and 2022.

11

XML

Cover	Jul. 25, 2023
Cover [Abstract]
Document Type	8-K
Document Period End Date	Jul. 25, 2023
Entity Registrant Name	GENERAL MOTORS COMPANY
Entity Incorporation, State or Country Code	DE
Entity File Number	001-34960
Entity Tax Identification Number	27-0756180
Entity Address, Address Line One	300 Renaissance Center,
Entity Address, City or Town	Detroit,
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48265
City Area Code	313
Local Phone Number	667-1500
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, $0.01 par value
Trading Symbol	GM
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Entity Central Index Key	0001467858
Amendment Flag	false