-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, H6GruyZdz7pSLY65gDOeo7kbGr2lVWOnSb0bv2tIOt24UlQSeUQbybcDfmFHIHXc DxN8AwC53YN4mnwjwlpMug== 0000040729-04-000025.txt : 20040420 0000040729-04-000025.hdr.sgml : 20040420 20040420083146 ACCESSION NUMBER: 0000040729-04-000025 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20040420 ITEM INFORMATION: FILED AS OF DATE: 20040420 FILER: COMPANY DATA: COMPANY CONFORMED NAME: GENERAL MOTORS ACCEPTANCE CORP CENTRAL INDEX KEY: 0000040729 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE LESSORS [6172] IRS NUMBER: 380572512 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03754 FILM NUMBER: 04741718 BUSINESS ADDRESS: STREET 1: MAIL CODE: 482-B08-B82 STREET 2: 200 RENAISSANCE CENTER CITY: DETROIT STATE: MI ZIP: 48265 BUSINESS PHONE: 3136654353 8-K 1 gmac8k1qes04202004.txt GMAC 1ST QUARTER 2004 EARNINGS SUMMARY FOR 04-20-2004 - -------------------------------------------------------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 April 20, 2004 (Date of report; date of earliest event reported) Commission file number: 1-3754 GENERAL MOTORS ACCEPTANCE CORPORATION (Exact name of registrant as specified in its charter) Delaware 38-0572512 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 200 Renaissance Center P.O. Box 200 Detroit, Michigan 48265-2000 (Address of principal executive offices) (Zip Code) (313) 556-5000 (Registrant's telephone number, including area code) - -------------------------------------------------------------------------------- Item 12. Results of Operations and Financial Condition GMAC FIRST QUARTER 2004 EARNINGS SUMMARY General Motors Acceptance Corporation (GMAC) recorded its highest first quarter earnings ever in the first quarter of 2004. Consolidated net income of $786 million was up $87 million from the $699 million earned in the same quarter of 2003. For the quarter, net income from financing operations totaled $442 million, up $140 million from the $302 million earned in the prior year. The increase reflects lower credit loss provisions and improved off-lease remarketing results, which more than offset the unfavorable impact of lower net interest margins. GMAC Insurance Holdings, Inc. generated net income of $91 million in the first quarter of 2004. Earnings were up $65 million from the same period in 2003, due to improved investment portfolio performance and continued growth in underwriting income. GMAC Mortgage Group, Inc. generated earnings of $253 million, down $118 million from the prior year first quarter record. These decreased earnings resulted from lower mortgage origination volume, reduced mortgage refinancing activity, and decreased pricing margins. SIGNATURES 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 ACCEPTANCE CORPORATION ------------------------------------- (Registrant) Dated: April 20, 2004 /s/ SANJIV KHATTRI ---------------- ------------------------------------- Sanjiv Khattri Executive Vice President, Chief Financial Officer and Director Dated: April 20, 2004 /s/ LINDA K. ZUKAUCKAS ---------------- ------------------------------------- Linda K. Zukauckas Controller and Principal Accounting Officer -----END PRIVACY-ENHANCED MESSAGE-----