Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

General Motors Co., consolidated income statement

US$ in millions

12 months ended:	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Automotive net sales and revenue	171,606)	157,658)	143,975)	113,590)	108,673)
Automotive and other cost of sales	(151,065)	(141,330)	(126,892)	(100,544)	(97,539)
Automotive and other gross margin	20,541)	16,328)	17,083)	13,046)	11,134)
GM Financial net sales and revenue	15,836)	14,184)	12,760)	13,414)	13,812)
GM Financial interest, operating and other expenses	(12,972)	(11,374)	(8,862)	(8,582)	(11,274)
Automotive and other selling, general and administrative expense	(10,621)	(9,840)	(10,666)	(8,554)	(7,038)
Operating income	12,784)	9,298)	10,315)	9,324)	6,634)
Automotive interest expense	(846)	(911)	(987)	(950)	(1,098)
Non-service pension and OPEB income	191)	184)	1,512)	1,909)	1,095)
Interest income	967)	1,109)	460)	146)	241)
Licensing agreements income	211)	172)	238)	195)	211)
Revaluation of investments	(225)	(77)	(236)	571)	265)
Other	112)	148)	(542)	220)	73)
Interest income and other non-operating income, net	1,256)	1,536)	1,432)	3,041)	1,885)
Equity income (loss)	(4,675)	480)	837)	1,301)	674)
Income before income taxes	8,519)	10,403)	11,597)	12,716)	8,095)
Income tax expense	(2,556)	(563)	(1,889)	(2,771)	(1,774)
Net income	5,963)	9,840)	9,708)	9,945)	6,321)
Net loss attributable to noncontrolling interests	45)	287)	226)	74)	106)
Net income attributable to stockholders	6,008)	10,127)	9,934)	10,019)	6,427)
Adjustments	1,181)	(105)	(1,019)	(182)	(180)
Net income attributable to common stockholders	7,189)	10,022)	8,915)	9,837)	6,247)

Based on: 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), 10-K (reporting date: 2020-12-31).

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Income statement item	Description	The company
Automotive net sales and revenue	Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.	General Motors Co. automotive net sales and revenue increased from 2022 to 2023 and from 2023 to 2024.
Operating income	The net result for the period of deducting operating expenses from operating revenues.	General Motors Co. operating income decreased from 2022 to 2023 but then increased from 2023 to 2024 exceeding 2022 level.
Income before income taxes	Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.	General Motors Co. income before income taxes decreased from 2022 to 2023 and from 2023 to 2024.
Net income attributable to stockholders	The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.	General Motors Co. net income attributable to stockholders increased from 2022 to 2023 but then decreased significantly from 2023 to 2024.

General Motors Co. (NYSE:GM)

Income Statement