Stock Analysis on Net

General Motors Co. (NYSE:GM)

Income Statement
Quarterly Data

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 (quarterly data)

US$ in millions

Microsoft Excel
3 months ended: Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Automotive net sales and revenue 44,735 44,060 39,212 39,260 40,498 41,254 36,646 39,834 38,703 32,614 32,824 30,353 23,426 30,744 29,067 34,093 32,067 13,363 29,150 27,194 31,817 32,425 31,261
Automotive and other cost of sales (39,007) (38,615) (33,996) (36,609) (35,842) (36,632) (32,247) (34,579) (33,699) (29,261) (29,353) (27,491) (20,672) (27,266) (25,115) (30,200) (27,169) (13,444) (26,726) (25,921) (28,174) (28,327) (28,229)
Automotive and other gross margin 5,728 5,445 5,216 2,651 4,656 4,622 4,399 5,255 5,004 3,353 3,471 2,862 2,754 3,478 3,952 3,893 4,898 (81) 2,424 1,273 3,643 4,098 3,032
GM Financial net sales and revenue 4,021 3,909 3,802 3,719 3,633 3,493 3,339 3,275 3,185 3,145 3,155 3,231 3,353 3,423 3,407 3,425 3,413 3,415 3,559 3,632 3,656 3,635 3,617
GM Financial interest, operating and other expenses (3,353) (3,109) (3,105) (3,061) (2,932) (2,768) (2,613) (2,527) (2,320) (2,089) (1,926) (2,095) (2,314) (1,894) (2,279) (2,421) (2,259) (3,238) (3,356) (3,177) (2,987) (3,144) (3,306)
Automotive and other selling, general and administrative expense (2,745) (2,372) (2,175) (2,391) (2,344) (2,558) (2,547) (3,392) (2,477) (2,293) (2,504) (2,478) (2,148) (2,125) (1,803) (2,130) (1,628) (1,310) (1,970) (2,282) (2,008) (2,102) (2,099)
Operating income (loss) 3,651 3,873 3,738 918 3,013 2,789 2,578 2,611 3,392 2,116 2,196 1,520 1,645 2,882 3,277 2,767 4,424 (1,214) 657 (554) 2,304 2,487 1,244
Automotive interest expense (206) (206) (219) (222) (229) (226) (234) (268) (259) (234) (226) (227) (230) (243) (250) (275) (327) (303) (193) (200) (206) (195) (181)
Interest income and other non-operating income, net 394 60 301 315 453 358 410 23 597 295 517 658 800 784 799 662 499 413 311 131 169 364 805
Equity income (loss) (122) (84) (105) 124 227 108 21 223 367 (45) 292 286 323 327 365 285 309 212 (132) 268 315 271 414
Income (loss) before income taxes 3,717 3,643 3,715 1,135 3,464 3,029 2,775 2,589 4,097 2,132 2,779 2,237 2,538 3,750 4,191 3,439 4,905 (892) 643 (355) 2,582 2,927 2,282
Income tax (expense) benefit (709) (766) (762) 858 (470) (522) (429) (582) (845) (490) 28 (471) (152) (971) (1,177) (642) (887) 112 (357) 163 (271) (524) (137)
Net income (loss) 3,008 2,877 2,953 1,993 2,994 2,507 2,346 2,007 3,252 1,642 2,807 1,766 2,386 2,779 3,014 2,797 4,018 (780) 286 (192) 2,311 2,403 2,145
Net loss attributable to noncontrolling interests 48 56 27 109 70 59 49 (9) 53 50 132 (25) 34 57 8 49 27 22 8 (2) 40 15 12
Net income (loss) attributable to stockholders 3,056 2,933 2,980 2,102 3,064 2,566 2,395 1,998 3,305 1,692 2,939 1,741 2,420 2,836 3,022 2,846 4,045 (758) 294 (194) 2,351 2,418 2,157
Cumulative dividends on subsidiary preferred stock (27) (14) (10) (27) (26) (26) (26) (14) (27) (26) (952) (45) (45) (46) (46) (45) (40) (48) (47) (38) (38) (37) (38)
Net income (loss) attributable to common stockholders 3,029 2,919 2,970 2,075 3,038 2,540 2,369 1,984 3,278 1,666 1,987 1,696 2,375 2,790 2,976 2,801 4,005 (806) 247 (232) 2,313 2,381 2,119

Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

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 Q1 2024 to Q2 2024 and from Q2 2024 to Q3 2024.
Operating income (loss) The net result for the period of deducting operating expenses from operating revenues. General Motors Co. operating income (loss) increased from Q1 2024 to Q2 2024 but then decreased significantly from Q2 2024 to Q3 2024.
Income (loss) 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 (loss) before income taxes decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 exceeding Q1 2024 level.
Net income (loss) 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 (loss) attributable to stockholders decreased from Q1 2024 to Q2 2024 but then increased from Q2 2024 to Q3 2024 exceeding Q1 2024 level.