General Motors Files Q2 2024 10-Q Report

TL;DR

GM's Q2 10-Q is in! Check financials for Auto & GM Financial segments.

AI Summary

General Motors Co. filed its 10-Q for the period ending June 30, 2024. The filing covers the second quarter and the first half of the year, detailing financial performance across its Automotive and GM Financial segments. Specific financial figures and operational details for these periods are presented within the report.

Why It Matters

This filing provides investors and analysts with the latest financial results and operational updates for General Motors, crucial for understanding the company's performance and future outlook.

Risk Assessment

Risk Level: medium — The filing likely contains details on ongoing litigation, product recalls, or significant financial performance metrics that could impact the company's stock.

Key Players & Entities

• General Motors Co. (company) — Filer of the 10-Q
• 20240630 (date) — End of reporting period
• 20240723 (date) — Filing date
• 300 RENAISSANCE CENTER (address) — Company's business and mail address
• DETROIT (city) — Company's business and mail city
• MI (state) — Company's business and mail state
• 48265-3000 (zip_code) — Company's business and mail zip code
• 313.667.1500 (phone_number) — Company's business phone number
• gm:AutomotiveMember (segment) — Financial segment reported
• gm:GmFinancialMember (segment) — Financial segment reported

FAQ

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value GM New York Stock Exchange

Filing Documents

• gm-20240630.htm (10-Q) — 2922KB
• ex-101xsenioradvisorconsul.htm (EX-10.1) — 12KB
• ex-311x06302024.htm (EX-31.1) — 9KB
• ex-312x06302024.htm (EX-31.2) — 9KB
• ex-32x06302024.htm (EX-32) — 6KB
• gm-20240630_g1.jpg (GRAPHIC) — 12KB
• 0001467858-24-000102.txt ( ) — 13862KB
• gm-20240630.xsd (EX-101.SCH) — 62KB
• gm-20240630_cal.xml (EX-101.CAL) — 96KB
• gm-20240630_def.xml (EX-101.DEF) — 409KB
• gm-20240630_lab.xml (EX-101.LAB) — 791KB
• gm-20240630_pre.xml (EX-101.PRE) — 586KB
• gm-20240630_htm.xml (XML) — 2981KB

Condensed Consolidated Financial Statements 1

Item 1. Condensed Consolidated Financial Statements 1 Condensed Consolidated Income Statements (Unaudited) 1 Condensed Consolidated Statements of Comprehensive Income (Unaudited) 1 Condensed Consolidated Balance Sheets (Unaudited) 2 Condensed Consolidated Statements of Cash Flows (Unaudited) 3 Condensed Consolidated Statements of Equity (Unaudited) 4 Notes to Condensed Consolidated Financial Statements 5 Note 1. Nature of Operations and Basis of Presentation 5 Note 2. Revenue 6 Note 3. Marketable and Other Securities 8 Note 4. GM Financial Receivables and Transactions 9 Note 5. Inventories 12 Note 6. Equipment on Operating Leases 12 Note 7. Equity in Net Assets of Nonconsolidated Affiliates 13 Note 8. Variable Interest Entities 13 Note 9. Debt 15 Note 10. Derivative Financial Instruments 16 Note 11. Product Warranty and Related Liabilities 17 Note 12. Pensions and Other Postretirement Benefits 18 Note 13. Commitments and Contingencies 18 Note 14. Income Taxes 22 Note 15. Restructuring and Other Initiatives 22 Note 16. Stockholders' Equity and Noncontrolling Interests 23 Note 17. Earnings Per Share 24 Note 18. Stock Incentive Plans 25 Note 19. Segment Reporting 25

Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 28

Quantitative and Qualitative Disclosures About Market Risk 47

Item 3. Quantitative and Qualitative Disclosures About Market Risk 47

Controls and Procedures 48

Item 4. Controls and Procedures 48 PART II

Legal Proceedings 49

Item 1. Legal Proceedings 49

Risk Factors 49

Item 1A. Risk Factors 49

Unregistered Sales of Equity Securities and Use of Proceeds 50

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 50

Other Information 50

Item 5. Other Information 50

Exhibits 51

Item 6. Exhibits 51 Signature 52 Table of Contents GENERAL MOTORS COMPANY AND SUBSIDIARIES PART I

Condensed Consolidated Financial Statements

Item 1. Condensed Consolidated Financial Statements CONDENSED CONSOLIDATED INCOME STATEMENTS (In millions, except per share amounts) (Unaudited) Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Net sales and revenue Automotive $ 44,060 $ 41,254 $ 83,273 $ 77,900 GM Financial 3,908 3,493 7,710 6,832 Total net sales and revenue (Note 2) 47,969 44,746 90,983 84,732 Costs and expenses Automotive and other cost of sales 38,615 36,632 72,611 68,879 GM Financial interest, operating and other expenses 3,109 2,768 6,215 5,380 Automotive and other selling, general and administrative expense 2,372 2,558 4,547 5,105 Total costs and expenses 44,096 41,958 83,372 79,364 Operating income (loss) 3,873 2,789 7,611 5,367 Automotive interest expense 206 226 425 460 Interest income and other non-operating income, net 60 358 362 767 Equity income (loss) (Note 7) ( 84 ) 108 ( 189 ) 129 Income (loss) before income taxes 3,643 3,029 7,359 5,803 Income tax expense (benefit) (Note 14) 767 522 1,529 950 Net income (loss) 2,877 2,507 5,830 4,853 Net loss (income) attributable to noncontrolling interests 57 59 83 109 Net income (loss) attributable to stockholders $ 2,933 $ 2,566 $ 5,913 $ 4,962 Net income (loss) attributable to common stockholders $ 2,919 $ 2,540 $ 5,889 $ 4,908 Earnings per share (Note 17) Basic earnings per common share $ 2.57 $ 1.83 $ 5.14 $ 3.53 Weighted-average common shares outstanding – basic 1,136 1,385 1,145 1,390 Diluted earnings per common share $ 2.55 $ 1.83 $ 5.10 $ 3.52 Weighted-average common shares outstanding – diluted 1,147 1,389 1,155 1,396 Dividends declared per common share $ 0.12 $ 0.09 $ 0.24 $ 0.18 CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In millions) (Unaudited) Three Months Ended Six Months Ended June 30, 2024 June 30, 2023 June 30, 2024 June 30, 2023 Net income (loss) $ 2,877 $ 2,507 $ 5,830 $ 4,853 Other comprehensive income (loss), net of tax

View Full Filing

View this 10-Q filing on SEC EDGAR