Analysis of Reportable Segments
General Motors Co. operates in 4 segments: GM North America (GMNA); GM International (GMI); Cruise; and GM Financial.
Segment Profit Margin
General Motors Co., profit margin by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| GM North America (GMNA) | 8.70% | 10.12% | 10.18% | 9.38% | 7.71% |
| GM International (GMI) | 7.59% | 7.41% | 6.79% | -4.56% | -1.25% |
| Cruise | -2,642.16% | -1,852.94% | -1,128.30% | -861.17% | -1,004.00% |
| GM Financial | 20.98% | 31.93% | 37.53% | 19.54% | 14.46% |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | GM North America (GMNA) | GM North America (GMNA) segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
| GM International (GMI) | GM International (GMI) segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. | |
| Cruise | Cruise segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| GM Financial | GM Financial segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: GM North America (GMNA)
General Motors Co.; GM North America (GMNA); segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and taxes, adjusted | 12,306) | 12,988) | 10,318) | 9,071) | 8,204) |
| Net sales and revenue | 141,445) | 128,378) | 101,308) | 96,733) | 106,366) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 8.70% | 10.12% | 10.18% | 9.38% | 7.71% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Earnings (loss) before interest and taxes, adjusted ÷ Net sales and revenue
= 100 × 12,306 ÷ 141,445 = 8.70%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | GM North America (GMNA) | GM North America (GMNA) segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: GM International (GMI)
General Motors Co.; GM International (GMI); segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and taxes, adjusted | 1,210) | 1,143) | 827) | (528) | (202) |
| Net sales and revenue | 15,949) | 15,420) | 12,172) | 11,586) | 16,111) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 7.59% | 7.41% | 6.79% | -4.56% | -1.25% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Earnings (loss) before interest and taxes, adjusted ÷ Net sales and revenue
= 100 × 1,210 ÷ 15,949 = 7.59%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | GM International (GMI) | GM International (GMI) segment profit margin ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: Cruise
General Motors Co.; Cruise; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and taxes, adjusted | (2,695) | (1,890) | (1,196) | (887) | (1,004) |
| Net sales and revenue | 102) | 102) | 106) | 103) | 100) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | -2,642.16% | -1,852.94% | -1,128.30% | -861.17% | -1,004.00% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Earnings (loss) before interest and taxes, adjusted ÷ Net sales and revenue
= 100 × -2,695 ÷ 102 = -2,642.16%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | Cruise | Cruise segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Profit Margin: GM Financial
General Motors Co.; GM Financial; segment profit margin calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and taxes, adjusted | 2,985) | 4,076) | 5,036) | 2,702) | 2,104) |
| Net sales and revenue | 14,225) | 12,766) | 13,419) | 13,831) | 14,554) |
| Segment Profitability Ratio | |||||
| Segment profit margin1 | 20.98% | 31.93% | 37.53% | 19.54% | 14.46% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment profit margin = 100 × Earnings (loss) before interest and taxes, adjusted ÷ Net sales and revenue
= 100 × 2,985 ÷ 14,225 = 20.98%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment profit margin | GM Financial | GM Financial segment profit margin ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Return on Assets (Segment ROA)
General Motors Co., ROA by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| GM North America (GMNA) | 7.89% | 8.26% | 8.48% | 7.95% | 7.51% |
| GM International (GMI) | 4.61% | 4.61% | 3.62% | -2.29% | -0.81% |
| Cruise | -59.17% | -34.30% | -26.64% | -24.47% | -23.74% |
| GM Financial | 2.28% | 3.35% | 4.45% | 2.38% | 1.93% |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | GM North America (GMNA) | GM North America (GMNA) segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
| GM International (GMI) | GM International (GMI) segment ROA improved from 2021 to 2022 and from 2022 to 2023. | |
| Cruise | Cruise segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| GM Financial | GM Financial segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: GM North America (GMNA)
General Motors Co.; GM North America (GMNA); segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and taxes, adjusted | 12,306) | 12,988) | 10,318) | 9,071) | 8,204) |
| Total assets | 155,908) | 157,250) | 121,735) | 114,137) | 109,290) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 7.89% | 8.26% | 8.48% | 7.95% | 7.51% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Earnings (loss) before interest and taxes, adjusted ÷ Total assets
= 100 × 12,306 ÷ 155,908 = 7.89%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | GM North America (GMNA) | GM North America (GMNA) segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: GM International (GMI)
General Motors Co.; GM International (GMI); segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and taxes, adjusted | 1,210) | 1,143) | 827) | (528) | (202) |
| Total assets | 26,225) | 24,808) | 22,876) | 23,019) | 24,969) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 4.61% | 4.61% | 3.62% | -2.29% | -0.81% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Earnings (loss) before interest and taxes, adjusted ÷ Total assets
= 100 × 1,210 ÷ 26,225 = 4.61%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | GM International (GMI) | GM International (GMI) segment ROA improved from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: Cruise
General Motors Co.; Cruise; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and taxes, adjusted | (2,695) | (1,890) | (1,196) | (887) | (1,004) |
| Total assets | 4,555) | 5,510) | 4,489) | 3,625) | 4,230) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | -59.17% | -34.30% | -26.64% | -24.47% | -23.74% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Earnings (loss) before interest and taxes, adjusted ÷ Total assets
= 100 × -2,695 ÷ 4,555 = -59.17%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | Cruise | Cruise segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment ROA: GM Financial
General Motors Co.; GM Financial; segment ROA calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Earnings (loss) before interest and taxes, adjusted | 2,985) | 4,076) | 5,036) | 2,702) | 2,104) |
| Total assets | 130,780) | 121,544) | 113,207) | 113,410) | 108,881) |
| Segment Profitability Ratio | |||||
| Segment ROA1 | 2.28% | 3.35% | 4.45% | 2.38% | 1.93% |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment ROA = 100 × Earnings (loss) before interest and taxes, adjusted ÷ Total assets
= 100 × 2,985 ÷ 130,780 = 2.28%
| Segment profitability ratio | Reportable segment | The company |
|---|---|---|
| Segment ROA | GM Financial | GM Financial segment ROA deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Asset Turnover
General Motors Co., asset turnover by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| GM North America (GMNA) | 0.91 | 0.82 | 0.83 | 0.85 | 0.97 |
| GM International (GMI) | 0.61 | 0.62 | 0.53 | 0.50 | 0.65 |
| Cruise | 0.02 | 0.02 | 0.02 | 0.03 | 0.02 |
| GM Financial | 0.11 | 0.11 | 0.12 | 0.12 | 0.13 |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | GM North America (GMNA) | GM North America (GMNA) segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
| GM International (GMI) | GM International (GMI) segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. | |
| Cruise | Cruise segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. | |
| GM Financial | GM Financial segment asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Asset Turnover: GM North America (GMNA)
General Motors Co.; GM North America (GMNA); segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales and revenue | 141,445) | 128,378) | 101,308) | 96,733) | 106,366) |
| Total assets | 155,908) | 157,250) | 121,735) | 114,137) | 109,290) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.91 | 0.82 | 0.83 | 0.85 | 0.97 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales and revenue ÷ Total assets
= 141,445 ÷ 155,908 = 0.91
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | GM North America (GMNA) | GM North America (GMNA) segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 exceeding 2021 level. |
Segment Asset Turnover: GM International (GMI)
General Motors Co.; GM International (GMI); segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales and revenue | 15,949) | 15,420) | 12,172) | 11,586) | 16,111) |
| Total assets | 26,225) | 24,808) | 22,876) | 23,019) | 24,969) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.61 | 0.62 | 0.53 | 0.50 | 0.65 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales and revenue ÷ Total assets
= 15,949 ÷ 26,225 = 0.61
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | GM International (GMI) | GM International (GMI) segment asset turnover ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023. |
Segment Asset Turnover: Cruise
General Motors Co.; Cruise; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales and revenue | 102) | 102) | 106) | 103) | 100) |
| Total assets | 4,555) | 5,510) | 4,489) | 3,625) | 4,230) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.02 | 0.02 | 0.02 | 0.03 | 0.02 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales and revenue ÷ Total assets
= 102 ÷ 4,555 = 0.02
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | Cruise | Cruise segment asset turnover ratio deteriorated from 2021 to 2022 but then improved from 2022 to 2023 not reaching 2021 level. |
Segment Asset Turnover: GM Financial
General Motors Co.; GM Financial; segment asset turnover calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Net sales and revenue | 14,225) | 12,766) | 13,419) | 13,831) | 14,554) |
| Total assets | 130,780) | 121,544) | 113,207) | 113,410) | 108,881) |
| Segment Activity Ratio | |||||
| Segment asset turnover1 | 0.11 | 0.11 | 0.12 | 0.12 | 0.13 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment asset turnover = Net sales and revenue ÷ Total assets
= 14,225 ÷ 130,780 = 0.11
| Segment activity ratio | Reportable segment | The company |
|---|---|---|
| Segment asset turnover | GM Financial | GM Financial segment asset turnover ratio deteriorated from 2021 to 2022 but then slightly improved from 2022 to 2023. |
Segment Capital Expenditures to Depreciation
General Motors Co., capital expenditures to depreciation by reportable segment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| GM North America (GMNA) | 1.65 | 1.43 | 1.24 | 0.95 | 1.03 |
| GM International (GMI) | 0.89 | 1.38 | 1.44 | 1.17 | 2.06 |
| Cruise | 1.66 | 3.72 | 1.71 | 0.35 | 2.86 |
| GM Financial | 0.00 | 0.01 | 0.00 | 0.00 | 0.01 |
Based on: 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), 10-K (reporting date: 2019-12-31).
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | GM North America (GMNA) | GM North America (GMNA) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
| GM International (GMI) | GM International (GMI) segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. | |
| Cruise | Cruise segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. | |
| GM Financial | GM Financial segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Segment Capital Expenditures to Depreciation: GM North America (GMNA)
General Motors Co.; GM North America (GMNA); segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Expenditures for property | 10,147) | 8,280) | 6,576) | 4,501) | 6,305) |
| Depreciation and amortization | 6,146) | 5,800) | 5,298) | 4,739) | 6,112) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.65 | 1.43 | 1.24 | 0.95 | 1.03 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Expenditures for property ÷ Depreciation and amortization
= 10,147 ÷ 6,146 = 1.65
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | GM North America (GMNA) | GM North America (GMNA) segment capital expenditures to depreciation ratio improved from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: GM International (GMI)
General Motors Co.; GM International (GMI); segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Expenditures for property | 522) | 706) | 783) | 729) | 1,096) |
| Depreciation and amortization | 589) | 513) | 542) | 624) | 533) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.89 | 1.38 | 1.44 | 1.17 | 2.06 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Expenditures for property ÷ Depreciation and amortization
= 522 ÷ 589 = 0.89
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | GM International (GMI) | GM International (GMI) segment capital expenditures to depreciation ratio deteriorated from 2021 to 2022 and from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: Cruise
General Motors Co.; Cruise; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Expenditures for property | 63) | 197) | 89) | 15) | 60) |
| Depreciation and amortization | 38) | 53) | 52) | 43) | 21) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 1.66 | 3.72 | 1.71 | 0.35 | 2.86 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Expenditures for property ÷ Depreciation and amortization
= 63 ÷ 38 = 1.66
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | Cruise | Cruise segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then deteriorated significantly from 2022 to 2023. |
Segment Capital Expenditures to Depreciation: GM Financial
General Motors Co.; GM Financial; segment capital expenditures to depreciation calculation
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Selected Financial Data (US$ in millions) | |||||
| Expenditures for property | 24) | 44) | 26) | 34) | 47) |
| Depreciation and amortization | 4,944) | 4,888) | 6,134) | 7,245) | 7,350) |
| Segment Financial Ratio | |||||
| Segment capital expenditures to depreciation1 | 0.00 | 0.01 | 0.00 | 0.00 | 0.01 |
Based on: 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), 10-K (reporting date: 2019-12-31).
1 2023 Calculation
Segment capital expenditures to depreciation = Expenditures for property ÷ Depreciation and amortization
= 24 ÷ 4,944 = 0.00
| Segment financial ratio | Reportable segment | The company |
|---|---|---|
| Segment capital expenditures to depreciation | GM Financial | GM Financial segment capital expenditures to depreciation ratio improved from 2021 to 2022 but then slightly deteriorated from 2022 to 2023 not reaching 2021 level. |
Net sales and revenue
General Motors Co., net sales and revenue by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| GM North America (GMNA) | 141,445) | 128,378) | 101,308) | 96,733) | 106,366) |
| GM International (GMI) | 15,949) | 15,420) | 12,172) | 11,586) | 16,111) |
| Corporate | 273) | 176) | 104) | 350) | 220) |
| Automotive | 157,667) | 143,974) | 113,584) | 108,669) | 122,697) |
| Cruise | 102) | 102) | 106) | 103) | 100) |
| GM Financial | 14,225) | 12,766) | 13,419) | 13,831) | 14,554) |
| Eliminations/Reclassifications | (152) | (107) | (105) | (118) | (114) |
| Total | 171,842) | 156,735) | 127,004) | 122,485) | 137,237) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Earnings (loss) before interest and taxes, adjusted
General Motors Co., earnings (loss) before interest and taxes, adjusted by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| GM North America (GMNA) | 12,306) | 12,988) | 10,318) | 9,071) | 8,204) |
| GM International (GMI) | 1,210) | 1,143) | 827) | (528) | (202) |
| Corporate | (1,413) | (1,845) | (680) | (634) | (691) |
| Automotive | 12,103) | 12,286) | 10,465) | 7,909) | 7,311) |
| Cruise | (2,695) | (1,890) | (1,196) | (887) | (1,004) |
| GM Financial | 2,985) | 4,076) | 5,036) | 2,702) | 2,104) |
| Eliminations/Reclassifications | (36) | 2) | (10) | (14) | (18) |
| Total | 12,357) | 14,474) | 14,295) | 9,710) | 8,393) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Total assets
General Motors Co., total assets by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| GM North America (GMNA) | 155,908) | 157,250) | 121,735) | 114,137) | 109,290) |
| GM International (GMI) | 26,225) | 24,808) | 22,876) | 23,019) | 24,969) |
| Corporate | 41,271) | 60,518) | 40,492) | 39,933) | 32,365) |
| Eliminations | (82,858) | (104,157) | (56,936) | (57,464) | (50,244) |
| Automotive | 140,546) | 138,419) | 128,167) | 119,625) | 116,380) |
| Cruise | 4,555) | 5,510) | 4,489) | 3,625) | 4,230) |
| GM Financial | 130,780) | 121,544) | 113,207) | 113,410) | 108,881) |
| Eliminations/Reclassifications | (2,817) | (1,436) | (1,145) | (1,466) | (1,454) |
| Total | 273,064) | 264,037) | 244,718) | 235,194) | 228,037) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Expenditures for property
General Motors Co., expenditures for property by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| GM North America (GMNA) | 10,147) | 8,280) | 6,576) | 4,501) | 6,305) |
| GM International (GMI) | 522) | 706) | 783) | 729) | 1,096) |
| Corporate | 15) | 21) | 30) | 21) | 84) |
| Automotive | 10,684) | 9,007) | 7,389) | 5,251) | 7,485) |
| Cruise | 63) | 197) | 89) | 15) | 60) |
| GM Financial | 24) | 44) | 26) | 34) | 47) |
| Eliminations/Reclassifications | 199) | (10) | 5) | —) | —) |
| Total | 10,970) | 9,238) | 7,509) | 5,300) | 7,592) |
Based on: 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), 10-K (reporting date: 2019-12-31).
Depreciation and amortization
General Motors Co., depreciation and amortization by reportable segment
US$ in millions
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| GM North America (GMNA) | 6,146) | 5,800) | 5,298) | 4,739) | 6,112) |
| GM International (GMI) | 589) | 513) | 542) | 624) | 533) |
| Corporate | 21) | 22) | 21) | 25) | 46) |
| Eliminations | (1) | —) | —) | —) | (2) |
| Automotive | 6,755) | 6,335) | 5,861) | 5,388) | 6,689) |
| Cruise | 38) | 53) | 52) | 43) | 21) |
| GM Financial | 4,944) | 4,888) | 6,134) | 7,245) | 7,350) |
| Total | 11,737) | 11,276) | 12,047) | 12,676) | 14,060) |
Based on: 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), 10-K (reporting date: 2019-12-31).