Balance Sheet: Assets

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.

General Motors Co., consolidated balance sheet: assets

US$ in millions

	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash and cash equivalents	20,945)	19,872)	18,853)	19,153)	20,067)
Marketable debt securities	6,724)	7,265)	7,613)	12,150)	8,609)
Accounts and notes receivable, net of allowance	13,054)	12,827)	12,378)	13,333)	7,394)
GM Financial receivables, net of allowance	45,266)	46,362)	39,076)	33,623)	26,649)
Inventories	14,467)	14,564)	16,461)	15,366)	12,988)
Other current assets	8,311)	7,655)	7,237)	6,826)	6,396)
Current assets	108,767)	108,545)	101,618)	100,451)	82,103)
GM Financial receivables, net of allowance	44,384)	46,474)	45,043)	40,591)	36,167)
Equity in net assets of nonconsolidated affiliates	5,681)	7,102)	10,613)	10,176)	9,677)
Property, net	51,683)	51,904)	50,321)	45,248)	41,115)
Goodwill and intangible assets, net	4,366)	4,551)	4,862)	4,945)	5,087)
Equipment on operating leases, net	33,686)	31,586)	30,582)	32,701)	37,929)
Deferred income taxes	22,960)	21,254)	22,339)	20,539)	21,152)
Other assets	9,757)	8,345)	7,686)	9,386)	11,488)
Non-current assets	172,517)	171,216)	171,446)	163,586)	162,615)
Total assets	281,284)	279,761)	273,064)	264,037)	244,718)

Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).

Total assets experienced a consistent increase over the five-year period, rising from US$244.718 billion in 2021 to US$281.284 billion in 2025. This growth was primarily driven by increases in both current and non-current assets, although the rate of growth varied between the two categories.

Current Assets: Current assets demonstrated substantial growth between 2021 and 2024, increasing from US$82.103 billion to US$108.545 billion. However, growth slowed considerably in 2025, with current assets reaching US$108.767 billion. A significant portion of this growth was attributable to GM Financial receivables, which nearly doubled from US$26.649 billion in 2021 to US$46.362 billion in 2023 before decreasing slightly to US$45.266 billion in 2025. Accounts and notes receivable also showed a notable increase, rising from US$7.394 billion to US$13.054 billion over the period. Cash and cash equivalents remained relatively stable, fluctuating between US$18.853 billion and US$20.945 billion.
Non-Current Assets: Non-current assets exhibited a more moderate, but consistent, increase over the period, growing from US$162.615 billion in 2021 to US$172.517 billion in 2025. Property, net, contributed significantly to this growth, increasing from US$41.115 billion to US$51.683 billion. GM Financial receivables (non-current) also increased, though at a slower pace than the current portion, moving from US$36.167 billion to US$44.384 billion. Goodwill and intangible assets, net, experienced a slight decline over the five years, decreasing from US$5.087 billion to US$4.366 billion. Equipment on operating leases showed some volatility, decreasing from US$37.929 billion in 2021 to US$30.582 billion in 2023, then increasing to US$33.686 billion in 2025.
Inventory: Inventory levels increased from US$12.988 billion in 2021 to US$16.461 billion in 2023, before decreasing to US$14.467 billion in 2025. This suggests potential fluctuations in production or sales strategies, or changes in supply chain management.
Other Assets & Deferred Income Taxes: Other assets showed an increasing trend, rising from US$9.386 billion in 2022 to US$9.757 billion in 2025. Deferred income taxes remained relatively stable, fluctuating between US$20.539 billion and US$22.960 billion throughout the period.

Overall, the asset base expanded consistently, with GM Financial receivables playing a prominent role in the growth of both current and non-current assets. The stabilization of current asset growth in 2025 warrants further investigation, as does the slight decline in goodwill and intangible assets.

Assets: Selected Items

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Current Assets: Selected Items

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General Motors Co. (NYSE:GM)

Balance Sheet: Assets

Assets: Selected Items

Current Assets: Selected Items