Segment Reporting

We report segment information consistent with the way the chief operating decision maker evaluates the operating results and performance of the Company. During the three months ended December 31, 2017, we changed our automotive segments as a result of changes in our organizational structure and the evolution of our business resulting from the sale of the Opel/Vauxhall Business and the various strategic actions taken in the GMIO region. As a result, our GMSA and GMIO operating segments are now reported as one, combined reportable international segment, GMI. Our GMNA and GM Financial segments were not impacted. All periods presented have been recast to reflect the changes.

We analyze the results of our business through the following segments: GMNA, GMI and GM Financial. As discussed in Note 3, the European Business is presented as discontinued operations and is excluded from our segment results for all periods presented. The European Business was previously reported as our GME segment and part of 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 strategic initiatives. 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 meets the demands of customers in North America with vehicles developed, manufactured and/or marketed under the Buick, Cadillac, Chevrolet and GMC brands. GMI primarily meets the demands of customers outside North America with vehicles developed, manufactured and/or marketed under the Buick, Cadillac, Chevrolet, GMC, and Holden 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, Jiefang and Wuling brands.

Our automotive operations' interest income and interest expense, Maven, legacy costs from the Opel/Vauxhall Business (primarily pension costs), 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. Retained net underfunded pension liabilities related to the European Business are also recorded in Corporate. 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, 2017
	GMNA		GMI			Corporate			Eliminations			Total Automotive			GM Financial		Eliminations			Total
Net sales and revenue	$	111,345	$	21,920		$	342					$	133,607		$	12,151	$	(170	)	$	145,588
Earnings (loss) before interest and taxes-adjusted	$	11,889	$	1,300		$	(1,534	)				$	11,655		$	1,196	$	(7	)	$	12,844
Adjustments(a)	$	—	$	(540	)	$	(114	)				$	(654	)	$	—	$	—		(654		)
Automotive interest income																				266
Automotive interest expense																				(575		)
Net (loss) attributable to noncontrolling interests																				(18		)
Income before income taxes																				11,863
Income tax expense																				(11,533		)
Income from continuing operations																				330
Loss from discontinued operations, net of tax																				(4,212		)
Net loss attributable to noncontrolling interests																				18
Net loss attributable to stockholders																				$	(3,864	)
Equity in net assets of nonconsolidated affiliates	$	68	$	7,818		$	—		$	—		$	7,886		$	1,187	$	—		$	9,073
Total assets	$	99,846	$	27,712		$	31,267		$	(42,750	)	$	116,075		$	97,251	$	(844	)	$	212,482
Expenditures for property	$	7,704	$	607		$	48		$	—		$	8,359		$	94	$	—		$	8,453
Depreciation and amortization	$	4,654	$	708		$	33		$	(1	)	$	5,394		$	6,573	$	—		$	11,967
Impairment charges	$	78	$	211		$	5		$	—		$	294		$	—	$	—		$	294
Equity income	$	8	$	1,951		$	—		$	—		$	1,959		$	173	$	—		$	2,132

__________


(a)	Consists of charges of $460 million related to restructuring actions in India and South Africa in GMI; charges of $80 million associated with the deconsolidation of Venezuela in GMI and charges of $114 million for legal related matters related to the ignition switch recall in Corporate.



	At and For the Year Ended December 31, 2016
	GMNA		GMI		Corporate			Eliminations			Total Automotive			GM Financial		Eliminations			Total
Net sales and revenue	$	119,113	$	20,943	$	149					$	140,205		$	8,983	$	(4	)	$	149,184
Earnings (loss) before interest and taxes-adjusted	$	12,388	$	767	$	(1,073	)				$	12,082		$	763	$	3		$	12,848
Adjustments(a)	$	—	$	—	$	(300	)				$	(300	)	$	—	$	—		(300		)
Automotive interest income																			182
Automotive interest expense																			(563		)
Net (loss) attributable to noncontrolling interests																			(159		)
Income before income taxes																			12,008
Income tax expense																			(2,739		)
Income from continuing operations																			9,269
Loss from discontinued operations, net of tax																			(1		)
Net loss attributable to noncontrolling interests																			159
Net income attributable to stockholders																			$	9,427
Equity in net assets of nonconsolidated affiliates	$	74	$	7,978	$	—		$	—		$	8,052		$	944	$	—		$	8,996
Total assets(b)	$	103,879	$	27,273	$	39,042		$	(35,139	)	$	135,055		$	87,947	$	(1,312	)	$	221,690
Expenditures for property	$	7,338	$	943	$	12		$	(2	)	$	8,291		$	93	$	—		$	8,384
Depreciation and amortization	$	4,292	$	702	$	19		$	(5	)	$	5,008		$	4,678	$	—		$	9,686
Impairment charges	$	65	$	68	$	—		$	—		$	133		$	—	$	—		$	133
Equity income	$	159	$	1,971	$	—		$	—		$	2,130		$	152	$	—		$	2,282

__________


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


(b)	Assets in Corporate and GM Financial include assets classified as held for sale.



	At and For the Year Ended December 31, 2015
	GMNA		GMI			Corporate			Eliminations			Total Automotive			GM Financial		Eliminations			Total
Net sales and revenue	$	106,744	$	22,970		$	150					$	129,864		$	5,867	$	(6	)	$	135,725
Earnings (loss) before interest and taxes-adjusted	$	11,354	$	665		$	(1,248	)				$	10,771		$	679	$	(1	)	$	11,449
Adjustments(a)	$	47	$	(1,461	)	$	(1,785	)				$	(3,199	)	$	—	$	—		(3,199		)
Automotive interest income																				167
Automotive interest expense																				(423		)
Gain on extinguishment of debt																				449
Net (loss) attributable to noncontrolling interests																				(72		)
Income before income taxes																				8,371
Income tax benefit																				1,219
Income from continuing operations																				9,590
Income from discontinued operations, net of tax																				25
Net loss attributable to noncontrolling interests																				72
Net income attributable to stockholders																				$	9,687
Equity in net assets of nonconsolidated affiliates	$	94	$	8,115		$	—		$	—		$	8,209		$	986	$	—		$	9,195
Total assets(b)	$	92,651	$	27,351		$	31,335		$	(21,916	)	$	129,421		$	66,081	$	(1,164	)	$	194,338
Expenditures for property	$	5,697	$	982		$	66		$	(5	)	$	6,740		$	73	$	—		$	6,813
Depreciation and amortization	$	3,755	$	707		$	16		$	(3	)	$	4,475		$	2,278	$	—		$	6,753
Impairment charges	$	370	$	364		$	—		$	—		$	734		$	—	$	—		$	734
Equity income	$	20	$	2,057		$	—		$	—		$	2,077		$	116	$	—		$	2,193

__________

(a)

Consists primarily of costs related to the Russia exit of $438 million in GMI, which is net of noncontrolling interests; asset impairment charges of $297 million related to our Thailand subsidiaries in GMI; Venezuela currency devaluation and asset impairment charges of $720 million in GMI; 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.


(b)	Assets in Corporate and GM Financial include assets classified as held for sale.

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,
	2017				2016				2015
	Net Sales and Revenue		Long-Lived Assets		Net Sales and Revenue		Long-Lived Assets		Net Sales and Revenue		Long-Lived Assets
Automotive
U.S.	$	100,674	$	24,473	$	110,661	$	22,241	$	100,082	$	21,091
Non-U.S.	32,775		12,715		29,544		11,258		29,782		9,649
GM Financial
U.S.	10,489		40,674		7,462		32,506		4,357		18,501
Non-U.S.	1,650		2,467		1,517		2,050		1,504		1,749
Total consolidated	$	145,588	$	80,329	$	149,184	$	68,055	$	135,725	$	50,990

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