v3.22.4
Segment Reporting
 12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
We analyze the results of our business through the following reportable segments: GMNA, GMI, Cruise and GM Financial. The chief operating decision-maker evaluates the operating results and performance of our automotive segments and Cruise through EBIT-adjusted, which is presented net of noncontrolling interests. The chief operating decision-maker evaluates GM Financial through EBT-adjusted because interest income and interest expense are part of operating results when assessing and measuring the operational and financial performance of the segment. Each segment has a manager responsible for executing our strategic initiatives. While not all vehicles within a segment are individually profitable on a fully allocated cost basis, those vehicles attract customers to dealer showrooms and help maintain sales volumes for other, more profitable vehicles and contribute towards meeting required fuel efficiency standards. As a result of these and other factors, we do not manage our business on an individual brand or vehicle basis.

Substantially all of the trucks, crossovers, cars and automobile parts produced are marketed through retail dealers in North America and through distributors and dealers outside of North America, the substantial majority of which are independently owned. In addition to the products sold to dealers for consumer retail sales, trucks, crossovers and cars are also sold to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies and governments. Fleet sales are completed through the dealer network and in some cases directly with fleet customers. Retail and fleet customers can obtain a wide range of after-sale vehicle services and products through the dealer network, such as maintenance, light repairs, collision repairs, vehicle accessories and extended service warranties.

GMNA meets the demands of customers in North America and GMI primarily meets the demands of customers outside North America, with vehicles developed, manufactured and/or marketed under the Buick, Cadillac, Chevrolet and GMC brands. We also have equity ownership stakes in entities that meet the demands of customers in other countries, primarily China, with vehicles developed, manufactured and/or marketed under the Baojun, Buick, Cadillac, Chevrolet and Wuling brands. Cruise is our global segment responsible for the development and commercialization of AV technology, and includes AV-related engineering and other costs. We provide automotive financing services through our GM Financial segment.

Our automotive interest income and interest expense, legacy costs from the Opel/Vauxhall Business (primarily pension costs), corporate expenditures and certain nonsegment-specific revenues and expenses are recorded centrally in Corporate. Corporate assets primarily consist of cash and cash equivalents, marketable debt securities and intersegment balances. All intersegment balances and transactions have been eliminated in consolidation.
The following tables summarize key financial information by segment:
At and For the Year Ended December 31, 2022
GMNAGMICorporateEliminationsTotal AutomotiveCruiseGM FinancialEliminations/ReclassificationsTotal
Net sales and revenue$128,378 $15,420 $177 $143,974 $102 $12,766 $(107)$156,735 
Earnings (loss) before interest and taxes-adjusted$12,988 $1,143 $(1,846)$12,286 $(1,890)$4,076 $2 $14,474 
Adjustments(a)$(411)$(657)$— $(1,068)$(1,057)$— $— (2,125)
Automotive interest income460 
Automotive interest expense(987)
Net income (loss) attributable to noncontrolling interests(226)
Income (loss) before income taxes11,597 
Income tax benefit (expense)(1,888)
Net income (loss)9,708 
Net loss (income) attributable to noncontrolling interests226 
Net income (loss) attributable to stockholders$9,934 
Equity in net assets of nonconsolidated affiliates
$1,820 $6,691 $— $— $8,511 $— $1,665 $— $10,176 
Goodwill and intangibles$2,134 $740 $4 $— $2,877 $727 $1,341 $— $4,945 
Total assets$157,250 $24,808 $60,518 $(104,157)$138,419 $5,510 $121,544 $(1,436)$264,037 
Expenditures for property$8,280 $706 $20 $— $9,007 $197 $44 $(10)$9,238 
Depreciation and amortization$5,800 $513 $21 $— $6,335 $53 $4,888 $— $11,276 
Impairment charges$11 $1 $— $— $12 $— $— $— $12 
Equity income (loss)$(9)$672 $— $— $663 $— $173 $— $837 
__________
(a)    Consists of charges for strategic activities related to Buick dealerships and the resolution of substantially all royalty matters accrued with respect to past-year vehicle sales in GMNA; charges related to the shutdown of our Russia business in GMI; and charges related to the one-time modification of Cruise stock incentive awards.

At and For the Year Ended December 31, 2021
GMNAGMICorporateEliminationsTotal AutomotiveCruiseGM FinancialEliminations/ReclassificationsTotal
Net sales and revenue$101,308 $12,172 $104 $113,584 $106 $13,419 $(105)$127,004 
Earnings (loss) before interest and taxes-adjusted
$10,318 $827 $(680)$10,465 $(1,196)$5,036 $(10)$14,295 
Adjustments(a)$(425)$(276)$— $(701)$— $— $— (701)
Automotive interest income146 
Automotive interest expense(950)
Net income (loss) attributable to noncontrolling interests(74)
Income (loss) before income taxes12,716 
Income tax benefit (expense)(2,771)
Net income (loss)9,945 
Net loss (income) attributable to noncontrolling interests74 
Net income (loss) attributable to stockholders$10,019 
Equity in net assets of nonconsolidated affiliates
$827 $7,133 $— $— $7,960 $— $1,717 $— $9,677 
Goodwill and intangibles$2,240 $772 $— $— $3,012 $736 $1,339 $— $5,087 
Total assets$121,735 $22,876 $40,492 $(56,936)$128,167 $4,489 $113,207 $(1,145)$244,718 
Expenditures for property$6,576 $783 $30 $— $7,389 $89 $26 $5 $7,509 
Depreciation and amortization$5,298 $542 $21 $— $5,861 $52 $6,134 $— $12,047 
Impairment charges$— $— $— $— $— $4 $— $— $4 
Equity income (loss)$8 $1,092 $— $— $1,100 $— $201 $— $1,301 
__________
(a)    Consists of royalties accrued with respect to past-year vehicle sales and charges for strategic activities related to Cadillac dealerships in GMNA; and a settlement with certain third parties relating to retrospective recoveries of indirect taxes and an adjustment related to the unique events associated with Korea Supreme Court decisions related to our salaried workers in GMI.
At and For the Year Ended December 31, 2020
GMNAGMICorporateEliminationsTotal AutomotiveCruiseGM FinancialEliminationsTotal
Net sales and revenue$96,733 $11,586 $350 $108,669 $103 $13,831 $(118)$122,485 
Earnings (loss) before interest and taxes-adjusted
$9,071 $(528)$(634)$7,909 $(887)$2,702 $(14)$9,710 
Adjustments(a)$(99)$(683)$130 $(652)$— $— $— (652)
Automotive interest income241 
Automotive interest expense(1,098)
Net income (loss) attributable to noncontrolling interests
(106)
Income (loss) before income taxes8,095 
Income tax benefit (expense)(1,774)
Net income (loss)6,321 
Net loss (income) attributable to noncontrolling interests106 
Net income (loss) attributable to stockholders$6,427 
Equity in net assets of nonconsolidated affiliates
$242 $6,583 $— $— $6,825 $— $1,581 $— $8,406 
Goodwill and intangibles$2,346 $806 $— $— $3,152 $735 $1,343 $— $5,230 
Total assets$114,137 $23,019 $39,933 $(57,464)$119,625 $3,625 $113,410 $(1,466)$235,194 
Expenditures for property$4,501 $729 $21 $— $5,251 $15 $34 $— $5,300 
Depreciation and amortization$4,739 $624 $25 $— $5,388 $43 $7,245 $— $12,676 
Impairment charges$20 $99 $— $— $119 $20 $— $— $139 
Equity income (loss)$17 $510 $— $— $527 $— $147 $— $674 
__________
(a)    Consists of charges for strategic activities related to Cadillac dealerships in GMNA; restructuring and other charges primarily in Australia, New Zealand, Thailand and India in GMI; and ignition switch-related legal matters in Corporate.

Automotive revenue is attributed to geographic areas based on the country of sale. GM Financial revenue is attributed to the geographic area where the financing is originated. The following table summarizes information concerning principal geographic areas:
At and For the Years Ended December 31,
202220212020
Net Sales and RevenueLong-Lived AssetsNet Sales and RevenueLong-Lived AssetsNet Sales and RevenueLong-Lived Assets
Automotive
U.S.$116,798 $30,201 $92,771 $27,192 $89,204 $24,932 
Non-U.S.27,177 14,907 20,819 13,771 19,469 12,516 
GM Financial
U.S.11,035 29,411 11,712 34,452 12,227 36,773 
Non-U.S.1,725 3,431 1,702 3,629 1,585 3,230 
Total consolidated$156,735 $77,950 $127,004 $79,044 $122,485 $77,451 

No individual country other than the U.S. represented more than 10% of our total net sales and revenue or long-lived assets, other than Mexico, whose long-lived assets were approximately 11% and 10% of our total long-lived assets at December 31, 2022 and 2021.