2012 Q4 Form 10-Q Financial Statement

#000146785812000060 Filed on October 31, 2012

View on sec.gov

Income Statement

Concept 2012 Q4 2012 Q3 2011 Q3
Revenue $39.31B $37.58B $36.72B
YoY Change 3.47% 2.33% 7.81%
Cost Of Revenue $42.29B $32.74B $31.73B
YoY Change 26.64% 3.15% 7.26%
Gross Profit -$3.135B $4.327B $4.594B
YoY Change -170.9% -5.81% 2.71%
Gross Profit Margin -7.98% 11.52% 12.51%
Selling, General & Admin $5.347B $2.849B $2.967B
YoY Change 64.37% -3.98% 8.28%
% of Gross Profit 65.84% 64.58%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $5.347B $2.849B $2.967B
YoY Change 64.37% -3.98% 8.28%
Operating Profit -$8.482B $1.603B $1.806B
YoY Change -825.58% -11.24% 4.21%
Interest Expense $1.542B $128.0M $101.0M
YoY Change -543.1% 26.73% -11.4%
% of Operating Profit 7.99% 5.59%
Other Income/Expense, Net $318.0M $152.0M
YoY Change 109.21%
Pretax Income -$33.47B $1.793B $1.822B
YoY Change -20386.67% -1.59% -1.35%
Income Tax -$35.65B $357.0M $107.0M
% Of Pretax Income 19.91% 5.87%
Net Earnings $1.194B $1.833B $2.107B
YoY Change 64.69% -13.0% -2.54%
Net Earnings / Revenue 3.04% 4.88% 5.74%
Basic Earnings Per Share $0.58 $0.94 $1.10
Diluted Earnings Per Share $0.54 $0.89 $1.03
COMMON SHARES
Basic Shares Outstanding 1.566B shares 1.570B shares 1.562B shares
Diluted Shares Outstanding 1.663B shares 1.682B shares

Balance Sheet

Concept 2012 Q4 2012 Q3 2011 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $27.59B $33.93B $31.98B
YoY Change -14.37% 6.1% -4.48%
Cash & Equivalents $18.42B $23.32B $20.60B
Short-Term Investments $9.167B $10.61B $11.68B
Other Short-Term Assets $1.536B $2.110B $6.301B
YoY Change 31.39% -66.51% -0.6%
Inventory $14.71B $15.67B $15.22B
Prepaid Expenses
Receivables $10.40B $16.76B $10.51B
Other Receivables $4.044B $0.00 $0.00
Total Short-Term Assets $70.00B $72.11B $64.01B
YoY Change 7.81% 12.65% 3.94%
LONG-TERM ASSETS
Property, Plant & Equipment $24.20B $26.58B $21.56B
YoY Change 5.18% 23.3% 12.76%
Goodwill $1.973B $28.41B
YoY Change -93.2%
Intangibles $6.809B $8.904B
YoY Change -32.01%
Long-Term Investments $6.883B $7.519B $7.534B
YoY Change 1.37% -0.2% -13.31%
Other Assets $2.358B $2.778B $6.098B
YoY Change -2.4% -54.44% 26.07%
Total Long-Term Assets $79.43B $83.35B $84.49B
YoY Change -0.32% -1.35% 11.68%
TOTAL ASSETS
Total Short-Term Assets $70.00B $72.11B $64.01B
Total Long-Term Assets $79.43B $83.35B $84.49B
Total Assets $149.4B $155.5B $148.5B
YoY Change 3.33% 4.69% 8.2%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $25.17B $26.31B $25.65B
YoY Change 2.5% 2.6% 15.85%
Accrued Expenses $23.31B $25.03B $24.56B
YoY Change 1.89% 1.93% -1.02%
Deferred Revenue
YoY Change
Short-Term Debt $1.356B $2.277B $1.543B
YoY Change -2.66% 47.57% -72.55%
Long-Term Debt Due $4.162B $4.001B
YoY Change -5.56%
Total Short-Term Liabilities $53.99B $57.62B $51.75B
YoY Change 1.44% 11.35% -1.56%
LONG-TERM LIABILITIES
Long-Term Debt $10.53B $10.38B $10.12B
YoY Change 31.11% 2.5% 243.7%
Other Long-Term Liabilities $13.17B $12.76B $41.01B
YoY Change 5.84% -68.89% -19.6%
Total Long-Term Liabilities $58.43B $55.20B $51.13B
YoY Change 11.54% 7.96% -5.23%
TOTAL LIABILITIES
Total Short-Term Liabilities $53.99B $57.62B $51.75B
Total Long-Term Liabilities $58.43B $55.20B $51.13B
Total Liabilities $112.4B $112.8B $103.8B
YoY Change 6.45% 8.75% -3.48%
SHAREHOLDERS EQUITY
Retained Earnings $10.06B $11.53B
YoY Change 40.01%
Common Stock $14.00M $16.00M
YoY Change -12.5%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $36.24B $41.66B $44.74B
YoY Change
Total Liabilities & Shareholders Equity $149.4B $155.5B $148.5B
YoY Change 3.33% 4.69% 8.2%

Cashflow Statement

Concept 2012 Q4 2012 Q3 2011 Q3
OPERATING ACTIVITIES
Net Income $1.194B $1.833B $2.107B
YoY Change 64.69% -13.0% -2.54%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities $781.0M $3.383B $2.037B
YoY Change -45.84% 66.08% -22.37%
INVESTING ACTIVITIES
Capital Expenditures -$2.277B -$2.172B -$1.741B
YoY Change -6.57% 24.76% 38.07%
Acquisitions
YoY Change
Other Investing Activities $3.053B -$1.284B $424.0M
YoY Change -180.36% -402.83% -142.27%
Cash From Investing Activities $776.0M -$3.456B -$1.317B
YoY Change -112.44% 162.41% -41.83%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -6.464B 1.157B -576.0M
YoY Change -2269.13% -300.87% 264.56%
NET CHANGE
Cash From Operating Activities 781.0M 3.383B 2.037B
Cash From Investing Activities 776.0M -3.456B -1.317B
Cash From Financing Activities -6.464B 1.157B -576.0M
Net Change In Cash -4.907B 1.084B 144.0M
YoY Change 9.14% 652.78% -28.71%
FREE CASH FLOW
Cash From Operating Activities $781.0M $3.383B $2.037B
Capital Expenditures -$2.277B -$2.172B -$1.741B
Free Cash Flow $3.058B $5.555B $3.778B
YoY Change -21.17% 47.04% -2.75%

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<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;"></font><font style="font-family:inherit;font-size:10pt;color:#000000;font-weight:bold;text-decoration:none;">Nature of Operations</font><font style="font-family:inherit;font-size:10pt;font-weight:bold;"> </font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">General Motors Company, is sometimes referred to in this Quarterly Report on Form 10-Q as &#8220;we,&#8221; &#8220;our,&#8221; &#8220;us,&#8221; &#8220;ourselves,&#8221; the &#8220;Company,&#8221; &#8220;General Motors,&#8221; or &#8220;GM.&#8221; General Motors Corporation is sometimes referred to in this Quarterly Report on Form 10-Q, for the periods on or before July&#160;9, 2009, as &#8220;Old GM.&#8221; Old GM was renamed Motors Liquidation Company (MLC), which was dissolved on December 15, 2011 and transferred its remaining assets and liabilities to the Motors Liquidation Company GUC Trust (GUC Trust).</font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We design, build and sell cars, trucks and automobile parts worldwide. We also provide automotive financing services primarily through General Motors Financial Company, Inc. (GM Financial). </font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">We analyze the results of our business through our five segments: GM North America (GMNA), GM Europe (GME), GM&#160;International Operations (GMIO), GM South America (GMSA) and GM Financial. Nonsegment operations are classified as Corporate. Corporate includes investments in Ally Financial, Inc. (Ally Financial), certain centrally recorded income and costs, such as interest, income taxes and corporate expenditures and certain nonsegment specific revenues and expenses.</font></div></div>
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us-gaap Standard Product Warranty Accrual Currency Translation Increase Decrease
StandardProductWarrantyAccrualCurrencyTranslationIncreaseDecrease
-52000000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2862000000 USD
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
2583000000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
468000000 USD
us-gaap Standard Product Warranty Accrual Preexisting Increase Decrease
StandardProductWarrantyAccrualPreexistingIncreaseDecrease
510000000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2290000000 USD
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
2594000000 USD
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
1864000000 USD
CY2011Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
38991000000 USD
CY2010Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
37159000000 USD
CY2011Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
45616000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-18000000 USD
us-gaap Stockholders Equity Other
StockholdersEquityOther
-2000000 USD
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;text-align:justify;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-weight:bold;">Use of Estimates in the Preparation of the Financial Statements </font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div><div style="line-height:120%;text-align:justify;text-indent:12px;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The condensed consolidated financial statements are prepared in conformity with U.S. GAAP, which requires the use of estimates, judgments and assumptions that affect the amounts of assets and liabilities at the reporting date and the amounts of revenue and expenses in the periods presented. We believe that the accounting estimates employed are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates actual results could differ from the original estimates, requiring adjustments to these balances in future periods. </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;"><br clear="none"/></font></div></div>
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1668000000 shares
CY2011Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1682000000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1675000000 shares
CY2012Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
1663000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1524000000 shares
CY2012Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1570000000 shares
CY2011Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1562000000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1570000000 shares
gm Adjustments
Adjustments
-674000000 USD
CY2011Q3 gm Adjustments
Adjustments
0 USD
gm Automotive Selling General And Administrative Expense
AutomotiveSellingGeneralAndAdministrativeExpense
8647000000 USD
CY2012Q3 gm Automotive Selling General And Administrative Expense
AutomotiveSellingGeneralAndAdministrativeExpense
2832000000 USD
gm Automotive Selling General And Administrative Expense
AutomotiveSellingGeneralAndAdministrativeExpense
8860000000 USD
CY2011Q3 gm Automotive Selling General And Administrative Expense
AutomotiveSellingGeneralAndAdministrativeExpense
2942000000 USD
CY2012Q3 gm Available For Sale Securites Debt Maturities Fair Value
AvailableForSaleSecuritesDebtMaturitiesFairValue
18688000000 USD
gm Income Loss Before Automotive Interest And Income Taxes Adjusted
IncomeLossBeforeAutomotiveInterestAndIncomeTaxesAdjusted
6597000000 USD
gm Income Loss Before Automotive Interest And Income Taxes Adjusted
IncomeLossBeforeAutomotiveInterestAndIncomeTaxesAdjusted
7207000000 USD
CY2012Q3 gm Income Loss Before Automotive Interest And Income Taxes Adjusted
IncomeLossBeforeAutomotiveInterestAndIncomeTaxesAdjusted
2296000000 USD
CY2011Q3 gm Income Loss Before Automotive Interest And Income Taxes Adjusted
IncomeLossBeforeAutomotiveInterestAndIncomeTaxesAdjusted
2203000000 USD
gm Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
5808000000 USD
gm Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
8648000000 USD
CY2012Q3 gm Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
2190000000 USD
gm Decrease In Restricted Cash And Marketable Securities
DecreaseInRestrictedCashAndMarketableSecurities
1096000000 USD
gm Decrease In Restricted Cash And Marketable Securities
DecreaseInRestrictedCashAndMarketableSecurities
992000000 USD
gm Depreciation Amortization And Impairment Of Long Lived Assets And Finite Lived Intangible Assets
DepreciationAmortizationAndImpairmentOfLongLivedAssetsAndFiniteLivedIntangibleAssets
4529000000 USD
gm Depreciation Amortization And Impairment Of Long Lived Assets And Finite Lived Intangible Assets
DepreciationAmortizationAndImpairmentOfLongLivedAssetsAndFiniteLivedIntangibleAssets
4681000000 USD
CY2012Q3 gm Depreciation Amortization And Impairment Of Long Lived Assets And Finite Lived Intangible Assets
DepreciationAmortizationAndImpairmentOfLongLivedAssetsAndFiniteLivedIntangibleAssets
1541000000 USD
CY2011Q3 gm Depreciation Amortization And Impairment Of Long Lived Assets And Finite Lived Intangible Assets
DepreciationAmortizationAndImpairmentOfLongLivedAssetsAndFiniteLivedIntangibleAssets
1471000000 USD
CY2012Q3 gm Enrironmental Remediation Years Of Cost To Incur Max
EnrironmentalRemediationYearsOfCostToIncurMax
P30Y
CY2012Q3 gm Enrironmental Remediation Years Of Cost To Incur Min
EnrironmentalRemediationYearsOfCostToIncurMin
P5Y
gm Equity Income Loss And Gain On Investments
EquityIncomeLossAndGainOnInvestments
1141000000 USD
gm Equity Income Loss And Gain On Investments
EquityIncomeLossAndGainOnInvestments
2903000000 USD
CY2012Q3 gm Equity Income Loss And Gain On Investments
EquityIncomeLossAndGainOnInvestments
418000000 USD
CY2011Q3 gm Equity Income Loss And Gain On Investments
EquityIncomeLossAndGainOnInvestments
377000000 USD
CY2012Q3 gm Financial Services Costs And Other
FinancialServicesCostsAndOther
311000000 USD
gm Financial Services Costs And Other
FinancialServicesCostsAndOther
827000000 USD
CY2011Q3 gm Financial Services Costs And Other
FinancialServicesCostsAndOther
212000000 USD
gm Financial Services Costs And Other
FinancialServicesCostsAndOther
563000000 USD
CY2011Q3 gm Income Loss From Continuing Operations Before Income Taxes
IncomeLossFromContinuingOperationsBeforeIncomeTaxes
2214000000 USD
gm Increase In Restricted Cash And Marketable Securities
IncreaseInRestrictedCashAndMarketableSecurities
506000000 USD
gm Increase In Restricted Cash And Marketable Securities
IncreaseInRestrictedCashAndMarketableSecurities
644000000 USD
CY2012Q3 gm Lower Share Price Boundary For Two Class Method
LowerSharePriceBoundaryForTwoClassMethod
33.00
gm Other Comprehensive Income Defined Benefit Plans During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansDuringPeriodNetOfTax
469000000 USD
gm Other Comprehensive Income Defined Benefit Plans During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansDuringPeriodNetOfTax
-657000000 USD
CY2011Q3 gm Other Comprehensive Income Defined Benefit Plans During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansDuringPeriodNetOfTax
271000000 USD
CY2012Q3 gm Other Comprehensive Income Defined Benefit Plans During Period Net Of Tax
OtherComprehensiveIncomeDefinedBenefitPlansDuringPeriodNetOfTax
-715000000 USD
CY2012Q3 gm Planned Spending Guarantee Euro
PlannedSpendingGuaranteeEuro
265000000 EUR
gm Principal Collections And Recoveries On Receivables
PrincipalCollectionsAndRecoveriesOnReceivables
2817000000 USD
gm Principal Collections And Recoveries On Receivables
PrincipalCollectionsAndRecoveriesOnReceivables
3349000000 USD
CY2012Q3 gm Property Subject To Or Available For Operating Leases Net Noncurrent
PropertySubjectToOrAvailableForOperatingLeasesNetNoncurrent
1521000000 USD
CY2011Q4 gm Property Subject To Or Available For Operating Leases Net Noncurrent
PropertySubjectToOrAvailableForOperatingLeasesNetNoncurrent
785000000 USD
gm Purchases Of Leased Vehicles
PurchasesOfLeasedVehicles
578000000 USD
gm Purchases Of Leased Vehicles
PurchasesOfLeasedVehicles
837000000 USD
CY2012Q3 gm Restructuring Interest Accretion And Other
RestructuringInterestAccretionAndOther
17000000 USD
CY2012Q2 gm Restructuring Interest Accretion And Other
RestructuringInterestAccretionAndOther
21000000 USD
CY2012Q1 gm Restructuring Interest Accretion And Other
RestructuringInterestAccretionAndOther
24000000 USD
CY2011Q1 gm Restructuring Interest Accretion And Other
RestructuringInterestAccretionAndOther
31000000 USD
CY2011Q3 gm Restructuring Interest Accretion And Other
RestructuringInterestAccretionAndOther
30000000 USD
CY2011Q2 gm Restructuring Interest Accretion And Other
RestructuringInterestAccretionAndOther
22000000 USD
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0001467858
CY2012Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
1566019895 shares
CY2012Q1 gm Share Based Compensation Awards Reclassified From Equity To Liability During Period
ShareBasedCompensationAwardsReclassifiedFromEquityToLiabilityDuringPeriod
97000000 USD
CY2012Q3 gm Total Intangible Assets Gross
TotalIntangibleAssetsGross
16083000000 USD
CY2011Q4 gm Total Intangible Assets Gross
TotalIntangibleAssetsGross
16005000000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2012
dei Document Period End Date
DocumentPeriodEndDate
2012-09-30
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Large Accelerated Filer
dei Entity Registrant Name
EntityRegistrantName
GENERAL MOTORS COMPANY
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
Yes

Files In Submission

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0001467858-12-000060-index-headers.html Edgar Link pending
0001467858-12-000060-index.html Edgar Link pending
0001467858-12-000060.txt Edgar Link pending
0001467858-12-000060-xbrl.zip Edgar Link pending
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