Segment Reporting

We analyze the results of our business through the following segments: GMNA, GME, GMIO, GMSA and GM Financial. The chief operating decision maker evaluates the operating results and performance of our automotive segments through earnings before interest and income taxes-adjusted, which is presented net of noncontrolling interests. The chief operating decision maker evaluates GM Financial through earnings before income taxes-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 strategies. Our automotive manufacturing operations are integrated within the segments, benefit from broad-based trade agreements and are subject to regulatory requirements. 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 cars, trucks, crossovers 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, cars, trucks and crossovers 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 primarily meets the demands of customers in North America with vehicles developed, manufactured and/or marketed under the Buick, Cadillac, Chevrolet and GMC brands. The demands of customers outside North America are primarily met with vehicles developed, manufactured and/or marketed under the Buick, Cadillac, Chevrolet, GMC, Holden, Opel and Vauxhall brands. We also have equity ownership stakes directly or indirectly in entities through various regional subsidiaries, primarily in Asia. These entities design, manufacture and/or market vehicles under the Baojun, Buick, Cadillac, Chevrolet, Jiefang and Wuling brands.

Our automotive operations' interest income and interest expense, Maven, corporate expenditures including autonomous vehicle-related engineering and other costs and certain nonsegment specific revenues and expenses are recorded centrally in Corporate. Corporate assets consist primarily of cash and cash equivalents, marketable securities, our investment in Lyft, goodwill, intangibles, Maven vehicles and intercompany 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, 2016
	GMNA		GME			GMIO		GMSA			Corporate			Eliminations			Total Automotive			GM Financial		Eliminations			Total
Net sales and revenue	$	119,022	$	18,707		$	11,749	$	7,223		$	148					$	156,849		$	9,558	$	(27	)	$	166,380
Earnings (loss) before interest and taxes-adjusted	$	12,047	$	(257	)	$	1,135	$	(374	)	$	(920	)				$	11,631		$	913	$	(14	)	$	12,530
Adjustments(a)	$	—	$	—		$	—	$	—		$	(300	)				$	(300	)	$	—	$	—		(300		)
Automotive interest income																									185
Automotive interest expense																									(572		)
Net (loss) attributable to noncontrolling interests																									(159		)
Income before income taxes																									11,684
Income tax expense																									(2,416		)
Net loss attributable to noncontrolling interests																									159
Net income attributable to stockholders																									$	9,427
Equity in net assets of nonconsolidated affiliates	$	74	$	—		$	7,976	$	2		$	—		$	—		$	8,052		$	944	$	—		$	8,996
Total assets	$	103,738	$	13,262		$	20,205	$	7,439		$	27,163		$	(36,752	)	$	135,055		$	87,947	$	(1,312	)	$	221,690
Expenditures for property	$	7,333	$	1,151		$	583	$	358		$	12		$	(2	)	$	9,435		$	107	$	—		$	9,542
Depreciation and amortization	$	4,281	$	446		$	439	$	261		$	18		$	(5	)	$	5,440		$	4,712	$	—		$	10,152
Impairment charges	$	66	$	122		$	68	$	—		$	—		$	—		$	256		$	—	$	—		$	256
Equity income	$	160	$	—		$	1,970	$	—		$	1		$	—		$	2,131		$	151	$	—		$	2,282

__________


(a)	Consists of a net charge of $300 million for legal related matters related to the ignition switch recall.



	At and For the Year Ended December 31, 2015
	GMNA		GME			GMIO			GMSA			Corporate			Eliminations			Total Automotive			GM Financial		Eliminations			Total
Net sales and revenue	$	106,622	$	18,704		$	12,626		$	7,820		$	150					$	145,922		$	6,454	$	(20	)	$	152,356
Earnings (loss) before interest and taxes-adjusted	$	11,026	$	(813	)	$	1,397		$	(622	)	$	(1,001	)				$	9,987		$	837	$	(10	)	$	10,814
Adjustments(a)	$	47	$	(358	)	$	(383	)	$	(720	)	$	(1,785	)				$	(3,199	)	$	—	$	—		(3,199		)
Automotive interest income																										169
Automotive interest expense																										(443		)
Gain on extinguishment of debt																										449
Net (loss) attributable to noncontrolling interests																										(72		)
Income before income taxes																										7,718
Income tax benefit																										1,897
Net loss attributable to noncontrolling interests																										72
Net income attributable to stockholders																										$	9,687
Equity in net assets of nonconsolidated affiliates	$	94	$	6		$	8,113		$	2		$	—		$	—		$	8,215		$	986	$	—		$	9,201
Total assets	$	92,480	$	13,343		$	20,540		$	6,990		$	20,151		$	(24,083	)	$	129,421		$	66,081	$	(1,164	)	$	194,338
Expenditures for property	$	5,688	$	1,070		$	480		$	485		$	66		$	(5	)	$	7,784		$	90	$	—		$	7,874
Depreciation and amortization	$	3,745	$	412		$	436		$	268		$	16		$	(3	)	$	4,874		$	2,297	$	—		$	7,171
Impairment charges	$	370	$	117		$	324		$	35		$	—		$	—		$	846		$	—	$	—		$	846
Equity income	$	20	$	2		$	2,056		$	—		$	—		$	—		$	2,078		$	116	$	—		$	2,194

__________

(a)

Consists primarily of costs related to the Russia exit of $353 million in GME and $85 million in GMIO, which is net of noncontrolling interests; asset impairment charges of $297 million related to our Thailand subsidiaries in GMIO; Venezuela currency devaluation and asset impairment charges of $720 million in GMSA; charges related to the ignition switch recall including the compensation program of $195 million and various settlements and legal related matters of approximately $1.6 billion in Corporate; and other of $41 million.



	At and For the Year Ended December 31, 2014
	GMNA			GME			GMIO			GMSA			Corporate			Eliminations			Total Automotive			GM Financial		Eliminations			Total
Net sales and revenue	$	101,199		$	22,235		$	14,392		$	13,115		$	151					$	151,092		$	4,854	$	(17	)	$	155,929
Earnings (loss) before interest and taxes-adjusted	$	6,603		$	(1,369	)	$	1,222		$	(180	)	$	(580	)				$	5,696		$	803	$	(5	)	$	6,494
Adjustments(a)	$	(975	)	$	(245	)	$	(180	)	$	(539	)	$	(400	)				$	(2,339	)	$	12	$	—		(2,327		)
Automotive interest income																											211
Automotive interest expense																											(403		)
Gain on extinguishment of debt																											202
Net income attributable to noncontrolling interests																											69
Income before income taxes																											4,246
Income tax expense																											(228		)
Net (income) attributable to noncontrolling interests																											(69		)
Net income attributable to stockholders																											$	3,949
Equity in net assets of nonconsolidated affiliates	$	88		$	6		$	8,254		$	2		$	—		$	—		$	8,350		$	—	$	—		$	8,350
Total assets	$	92,781		$	10,460		$	22,910		$	10,066		$	24,308		$	(29,041	)	$	131,484		$	47,745	$	(1,918	)	$	177,311
Expenditures for property	$	4,985		$	887		$	681		$	359		$	127		$	—		$	7,039		$	52	$	—		$	7,091
Depreciation and amortization	$	4,122		$	325		$	419		$	383		$	75		$	(4	)	$	5,320		$	918	$	—		$	6,238
Impairment charges, excluding goodwill	$	254		$	302		$	321		$	3		$	—		$	—		$	880		$	—	$	—		$	880
Equity income	$	19		$	(45	)	$	2,120		$	—		$	—		$	—		$	2,094		$	—	$	—		$	2,094

__________

(a)

Consists of a catch-up adjustment related to the change in estimate for recall campaigns of $874 million in GMNA; asset impairment charges of $245 million related to our Russian subsidiaries in GME; asset impairment charges of $158 million related to our Thailand subsidiary in GMIO; Venezuela currency devaluation charges of $419 million and Goodwill impairment charges of $120 million in GMSA; a charge related to the ignition switch recall compensation program of $400 million in Corporate; and other of $111 million.

Automotive revenue is attributed to geographic areas based on the country in which our subsidiary is located. 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,
	2016				2015				2014
	Net Sales & Revenue		Long-Lived Assets		Net Sales & Revenue		Long-Lived Assets		Net Sales & Revenue		Long-Lived Assets
Automotive
U.S.	$	110,848	$	22,241	$	100,008	$	21,091	$	93,559	$	18,813
Non-U.S.	46,001		15,196		45,914		12,742		57,533		12,355
GM Financial
U.S.	7,462		32,506		4,357		18,501		2,549		5,477
Non-U.S.	2,069		2,299		2,077		1,890		2,288		1,755
Total consolidated	$	166,380	$	72,242	$	152,356	$	54,224	$	155,929	$	38,400

No individual country other than the U.S. represented more than 10% of our total Net sales and revenue or Long-lived assets.