Exhibit 1. General Motors Company and Subsidiaries Supplemental Material. (Unaudited)

Transcription

1 Exhibit 1 General Mtrs Cmpany and Subsidiaries The accmpanying tables and charts fr securities analysts include earnings (lss) befre interest and taxes (EBIT), adjusted EBIT and free cash flw which are nt prepared in accrdance with Accunting Principles Generally Accepted in the United States f America (U.S. GAAP) and have nt been audited r reviewed by GM s independent auditrs. EBIT, adjusted EBIT and free cash flw are cnsidered nn-gaap financial measures. Management believes these nn-gaap financial measures prvide meaningful supplemental infrmatin regarding GM s perating results because they exclude amunts that management des nt cnsider part f perating results when assessing and measuring the peratinal and financial perfrmance f the rganizatin. Management believes these measures allw it t readily view perating trends, perfrm analytical cmparisns, benchmark perfrmance amng gegraphic regins and assess whether GM s plan t return t prfitability is n target. Accrdingly, GM believes these nn-gaap financial measures are useful in allwing fr greater transparency f GM s cre peratins and they are therefre used by management in its financial and peratinal decisin-making. While management believes that these nn-gaap financial measures prvide useful infrmatin, they are nt perating measures under U.S. GAAP and there are limitatins assciated with their use. GM s calculatin f these nn-gaap financial measures may nt be cmpletely cmparable t similarly titled measures f ther cmpanies due t ptential differences between cmpanies in the methd f calculatin. As a result, the use f these nn-gaap financial measures has limitatins and shuld nt be cnsidered in islatin frm, r as a substitute fr, ther measures such as Net incme (lss) r Net incme (lss) attributable t cmmn stckhlders. Due t these limitatins, these nn-gaap financial measures are used as a supplement t U.S. GAAP measures. The fllwing table summarizes the recnciliatin f EBIT t its mst cmparable U.S. GAAP measure (dllars in millins): March 31, 2010 December 31, 2009 July 10, 2009 Thrugh September 30, 2009 Operating segments GMNA... $ 1,218 $ (3,443) $ (1,377) GMIO... 1, GME... (506) (814) 9 Ttal perating segments... 1,906 (3,519) (908) Crprate and eliminatins... (82) (527) 167 EBIT... 1,824 (4,046) (741) Interest incme Interest expense Incme tax expense (benefit) (861) (139) Net incme (lss) attributable t stckhlders... $ 1,068 $ (3,439) $ (858) Interest and incme taxes are recrded centrally in Crprate; therefre, there are n recnciling items fr GM s perating segments between EBIT and Net incme (lss) attributable t stckhlders. 1

2 The fllwing tables summarize the recnciliatin f adjusted EBIT t EBIT and free cash flw t Net cash prvided by (used in) perating activities (dllars in millins): March 31, 2010 December 31, 2009 July 10, 2009 Thrugh September 30, 2009 Adjusted EBIT... $ 1,701 $ (954) $ (631) Adjustments (3,092) (110) EBIT... $ 1,824 $ (4,046) $ (741) Free Cash Flw... $ 991 $ (2,919) $ 1,976 Capital expenditures , Net cash prvided by (used in) perating activities... $ 1,746 $ (1,886) $ 2,857 In the three mnths ended March 31, 2010 Adjustments included the fllwing: Gain f $123 millin as a result f the sale f Saab t Spyker Cars NV. In the three mnths ended December 31, 2009 Adjustments included the fllwing: Settlement lss f $2.6 billin related t the terminatin f GM s UAW hurly retiree medical plan and Mitigatin Plan, under which GM agreed that an independent VEBA wuld be frmed t pay certain healthcare csts f UAW hurly retirees and their beneficiaries; Impairment charge f $270 millin related t GM s investment in GMAC cmmn stck; Charges f $150 millin related t the settlement f existing Delphi bligatins upn cnsummatin f the Delphi Master Dispsitin Agreement and GM s agreement t fund the wind-dwn csts f certain Delphi facilities; and Lss n extinguishment f debt f $101 millin related t the repayment f secured lng-term debt f $400 millin (in cnnectin with the purchase f the remaining nncntrlling interest in CAMI Autmtive, Inc.). In the perid July 10, 2009 thrugh September 30, 2009 Adjustments included the fllwing: Charges f $110 millin t recrd reserves against advances t Delphi. 2

3 Predecessr Wrldwide Prductin Vlume (units in thusands) GMNA Cars GMNA Trucks Ttal GMNA GME GMIO (b)(c)... 1, Ttal Wrldwide... 2,085 1,330 (b) (c) Prductin vlume represents the number f vehicles manufactured by GM s and Old GM s assembly facilities and als includes vehicles prduced by certain jint ventures. Includes Shanghai General Mtrs C., Ltd. (SGM), SAIC-GM Wuling Autmbile C., Ltd. (SGMW), FAW-GM Light Duty Cmmercial Vehicle C., Ltd. (FAW-GM) and SAIC GM Investment Ltd. (HKJV) jint venture prductin. Ownership f 34% in SGMW and 50% in FAW-GM, under the jint venture agreements, allws fr significant rights as a member as well as the cntractual right t reprt SGMW and FAW-GM prductin vlume in China. These entities are nt cnslidated fr financial reprting purpses. Incme and lsses related t these entities are recrded in Equity incme, net f tax. 3

4 Predecessr Vehicle Unit Deliveries (units in thusands)(b)(c) United States Chevrlet Cars Chevrlet Trucks Cadillac Buick GMC Other Ttal United States Canada, Mexic and Other Ttal GMNA(d) GME Opel/Vauxhall Chevrlet Other Ttal GME(e) GMIO Chevrlet Buick GM Daew Hlden Wuling FAW-GM Cadillac Other Ttal GMIO(e)(f)(g)... 1, Ttal Wrldwide... 1,998 1,617 Includes HUMMER, Saturn and Pntiac vehicle sales data. (b) Includes Saab vehicle sales data thrugh February (c) Vehicle sales data may include runding differences. (d) Vehicle sales represent sales t the ultimate custmer. (e) Vehicle sales primarily represent estimated sales t the ultimate custmer. (f) Includes SGM, SGMW, FAW-GM and HKJV jint venture sales. (g) Ownership f 34% in SGMW and 50% in FAW-GM under the jint venture agreements allws fr significant rights as a member as well as cntractual rights t reprt SGMW and FAW-GM jint venture vehicle sales in China as a part f glbal market share. These entities are nt cnslidated fr financial reprting purpses. Incme and lsses related t these entities are recrded in Equity incme, net f tax. 4

5 Predecessr Market Share United States Cars % 15.3% United States Trucks % 21.3% Ttal United States % 18.4% Ttal GMNA(b) % 18.0% Ttal GME(c) % 9.0% Ttal GMIO(c)(d)(e) % 10.0% Ttal Wrldwide % 11.2% U.S. Retail/Fleet Mix % Fleet Sales - Cars % 19.9% % Fleet Sales - Trucks % 15.2% Ttal Vehicles % 17.1% GMNA Capacity Utilizatin(f) % 37.7% (b) (c) (d) (e) (f) Includes HUMMER, Saab, Saturn and Pntiac vehicle sales data. Vehicle sales represent sales t the ultimate custmer. Vehicle sales primarily represent estimated sales t the ultimate custmer. Includes SGM, SGMW, FAW-GM and HKJV jint venture sales. Ownership f 34% in SGMW and 50% in FAW-GM, under the jint venture agreements, allws fr significant rights as a member as well as the cntractual right t reprt SGMW and FAW-GM jint venture vehicle sales in China as part f glbal market share. These entities are nt cnslidated fr financial reprting purpses. Incme and lsses related t these entities are recrded in Equity incme, net f tax. Tw shift rated, annualized. Predecessr March 31, 2010 December 31, 2009 Wrldwide Emplyment (thusands) GMNA GME(b)(c) GMIO(d) Ttal Wrldwide United States Salaried United States Hurly (b) (c) (d) Beginning with the three mnths ended March 31, 2010 substantially all f the 1,200 Crprate emplyees are included in GMNA. Decrease in GME primarily reflects reductin f 3,200 emplyees due t the sale f Saab and reductin f 800 hurly emplyees in Germany. GME hurly inactive emplyees are n lnger included in GME s ttals. GME hurly inactive emplyees excluded in the three mnths ended March 31, 2010 and 2009 were 2,300 and 2,500 emplyees. Decrease in GMIO reflects a reductin f 2,400 emplyees due t the sale f GM s India Operatins and the reclassificatin f 2,700 hurly emplyees t cntract status. March 31, 2010 Predecessr March 31, 2009 Wrldwide Payrll (billins)... $ 3.0 $ 2.9 5

6 Cndensed Cnslidated Statements f Operatins (In millins, except per share amunts) Predecessr Net sales and revenue... $ 31,476 $ 22,431 Csts and expenses Cst f sales... 27,591 24,611 Selling, general and administrative expense... 2,684 2,497 Other expenses, net Ttal csts and expenses... 30,321 28,093 Operating incme (lss)... 1,155 (5,662) Equity in lss f GMAC... (500) Interest expense... (337) (1,230) Interest incme and ther nn-perating incme, net Gain (lss) n extinguishment f debt... (1) 906 Incme (lss) befre incme taxes and equity incme... 1,302 (6,061) Incme tax expense (benefit) (114) Equity incme, net f tax Net incme (lss)... 1,196 (5,899) Less: Net incme attributable t nncntrlling interests Net incme (lss) attributable t stckhlders... 1,068 (5,975) Less: Cumulative dividends n preferred stck Net incme (lss) attributable t cmmn stckhlders... $ 865 $ (5,975) Earnings (lss) per share Basic Net incme (lss) attributable t cmmn stckhlders... $ 1.73 $ (9.78) Weighted-average cmmn shares utstanding Diluted Net incme (lss) attributable t cmmn stckhlders... $ 1.66 $ (9.78) Weighted-average cmmn shares utstanding

7 Cndensed Cnslidated Balance Sheets (In millins, except share amunts) March 31, 2010 December 31, 2009 ASSETS Current Assets Cash and cash equivalents... $ 23,310 $ 22,679 Marketable securities Ttal cash, cash equivalents and marketable securities... 23,463 22,813 Restricted cash... 12,741 13,917 Accunts and ntes receivable (net f allwance f $188 and $250)... 8,694 7,518 Inventries... 11,192 10,107 Assets held fr sale Equipment n perating leases, net... 2,319 2,727 Other current assets and deferred incme taxes... 1,888 1,777 Ttal current assets... 60,357 59,247 Nn-Current Assets Equity in net assets f nncnslidated affiliates... 8,430 7,936 Assets held fr sale Prperty, net... 18,432 18,687 Gdwill... 30,487 30,672 Intangible assets, net... 13,690 14,547 Other assets... 4,625 4,676 Ttal nn-current assets... 75,664 77,048 Ttal Assets... $ 136,021 $ 136,295 LIABILITIES AND EQUITY Current Liabilities Accunts payable (principally trade)... $ 20,450 $ 18,725 Shrt-term debt and current prtin f lng-term debt (including debt at GM Daew f $1,308 at March 31, 2010)... 8,773 10,221 Liabilities held fr sale Accrued expenses (including derivative liabilities at GM Daew f $339 at March 31, 2010)... 22,755 23,134 Ttal current liabilities... 52,038 52,435 Nn-Current Liabilities Lng-term debt (including debt at GM Daew f $740 at March 31, 2010)... 5,401 5,562 Liabilities held fr sale Pstretirement benefits ther than pensins... 8,794 8,708 Pensins... 26,492 27,086 Other liabilities and deferred incme taxes... 13,245 13,279 Ttal nn-current liabilities... 53,932 54,905 Ttal Liabilities , ,340 Cmmitments and cntingencies Preferred stck, $0.01 par value (1,000,000,000 shares authrized, 360,000,000 shares issued and utstanding (each with a $25.00 liquidatin preference) at March 31, 2010 and December 31, 2009)... 6,998 6,998 Equity Cmmn stck, $0.01 par value (2,500,000,000 shares authrized, 500,000,000 shares issued and utstanding at March 31, 2010 and December 31, 2009) Capital surplus (principally additinal paid-in capital)... 24,050 24,050 Accumulated deficit... (3,529) (4,394) Accumulated ther cmprehensive incme... 1,713 1,588 Ttal stckhlders equity... 22,239 21,249 Nncntrlling interests Ttal equity... 23,053 21,957 Ttal Liabilities and Equity... $ 136,021 $ 136,295 7