v3.26.1
Segment Reporting
 3 Months Ended
Mar. 31, 2026
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Our chief operating decision-maker, who is Chair and Chief Executive Officer, analyzes the results of our business through the following reportable segments: GMNA, GMI, and GM Financial. Our chief operating decision-maker evaluates the operating results and performance of our Automotive operations through earnings before interest and income taxes (EBIT)-adjusted, which is presented net of noncontrolling interests. Our chief operating decision-maker evaluates GM Financial through earnings before income taxes-adjusted (EBT-adjusted) because interest income and interest expense are an integral part of its operational and financial performance. These financial metrics are used to view operating trends, perform analytical comparisons and benchmark performance between periods and among geographic regions, and to monitor budget-to-actual variances on a monthly basis. To manage operations and make decisions regarding resource allocations, our chief operating decision-maker is regularly provided and reviews expense information at a consolidated, functional level for our global purchasing and supply chain, manufacturing, and engineering functions. Warranty and quality metrics are also viewed on a consolidated basis. Currently, a focus is being placed on driving an efficient, consolidated fixed cost structure and managing overall global headcount. Vehicle-level profitability metrics are also reviewed during the planning stage and throughout a program's life cycle on a forecasted basis, and not on an actual basis. Each segment has a manager responsible for executing our strategic initiatives.

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. Our Cruise business was pursuing the development and commercialization of autonomous vehicle (AV) technology until, in December 2024, we announced plans to refocus our autonomous driving strategy on personal vehicles and no longer fund Cruise's robotaxi development work. We have combined the GM and Cruise ongoing personal autonomous technical efforts in our GMNA segment. We provide automotive financing services through our GM Financial segment.

Our automotive interest income and interest expense, corporate expenditures, legacy costs from the Opel/Vauxhall Business (primarily pension costs), and certain revenues and expenses that are not part of a reportable segment 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 Three Months Ended March 31, 2026
GMNAGMIGM FinancialTotal Reportable Segments
Net sales and revenue$36,401 $2,859 $4,276 $43,536 
Segment expenses and other items(a)(32,740)(2,735)(3,588)
Earnings (loss) before interest and taxes-adjusted$3,661 $123 $688 $4,473 
Adjustments(b)(1,077)78 — (999)
Corporate(219)
Eliminations— 
Automotive interest income173 
Automotive interest expense(158)
Net income (loss) attributable to noncontrolling interests78 
Income (loss) before income taxes$3,347 
GMNAGMIGM FinancialTotal Reportable SegmentsCorporateEliminationsTotal
Net sales and revenue$36,401 $2,859 $4,276 $43,536 $90 $(1)$43,624 
Equity in net assets of nonconsolidated affiliates$3,262 $1,224 $1,144 $5,631 $347 $— $5,978 
Goodwill and intangibles$2,347 $639 $1,349 $4,336 $— $— $4,336 
Total assets$164,049 $19,973 $136,319 $320,341 $21,355 $(60,722)$280,974 
Expenditures for property$1,427 $53 $12 $1,491 $21 $— $1,512 
Depreciation and amortization$1,541 $119 $1,341 $3,001 $5 $— $3,005 
Impairment charges$25 $— $— $25 $— $— $25 
Equity income (loss)(c)$136 $161 $14 $311 $(45)$— $266 
__________
(a)Segment expenses and other items for GMNA and GMI primarily include material and logistics; manufacturing; equity income (loss); selling, general, and administrative people-related costs; advertising; information technology; engineering; professional services; and policy, campaign, and warranty. GM Financial items primarily consist of GM Financial interest expense; leased vehicle depreciation; people-related costs; provision for loan losses; and gains and losses on termination of leased vehicles.
(b)Consists of charges for EV strategic realignment in GMNA and China restructuring actions in GMI.
(c)Equity earnings associated with our Automotive China JVs include impacts of our portion of restructuring charges. Equity earnings related to Ultium Cells Holdings LLC are presented in Automotive and other cost of sales as this entity has historically been integral to the operations of our business by providing battery cells for our EVs. Refer to Note 7 for additional information.
At and For the Three Months Ended March 31, 2025
GMNAGMICruiseGM FinancialTotal Reportable Segments
Net sales and revenue$37,388 $2,427 $1 $4,164 $43,979 
Segment expenses and other items(a)(34,101)(2,397)(274)(3,479)
Earnings (loss) before interest and taxes-adjusted$3,286 $30 $(273)$685 $3,728 
Adjustments— — — — — 
Corporate(260)
Eliminations(4)
Automotive interest income191 
Automotive interest expense(152)
Net income (loss) attributable to noncontrolling interests69 
Income (loss) before income taxes$3,572 
GMNAGMICruiseGM FinancialTotal Reportable SegmentsCorporateEliminationsTotal
Net sales and revenue$37,388 $2,427 $1 $4,164 $43,979 $46 $(5)$44,020 
Equity in net assets of nonconsolidated affiliates$3,970 $1,492 $— $1,226 $6,688 $190 $— $6,877 
Goodwill and intangibles$2,508 $669 $1 $1,342 $4,520 $— $— $4,520 
Total assets$170,812 $21,428 $251 $141,056 $333,546 $40,355 $(91,797)$282,104 
Expenditures for property$1,705 $94 $2 $4 $1,805 $11 $— $1,816 
Depreciation and amortization$1,588 $102 $5 $1,212 $2,907 $27 $— $2,934 
Impairment charges$— $— $— $— $— $— $— $— 
Equity income (loss)(b)$242 $49 $— $12 $303 $— $— $303 
__________
(a)Segment expenses and other items for GMNA and GMI primarily include material and logistics; manufacturing; equity income (loss); selling, general, and administrative people-related costs; advertising; information technology; engineering; professional services; and policy, campaign, and warranty. GM Financial items primarily consist of GM Financial interest expense; leased vehicle depreciation; people-related costs; provision for loan losses; and gains and losses on termination of leased vehicles. Cruise items primarily consist of ongoing costs incurred related to the wind down of Cruise robotaxi activities.
(b)Equity earnings related to Ultium Cells Holdings LLC are presented in Automotive and other cost of sales as this entity has historically been integral to the operations of our business by providing battery cells for our EVs. Refer to Note 7 for additional information.