Exhibit 99.2

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

General Motors Company's (GM) non-GAAP measures include: earnings before interest and taxes (EBIT)-adjusted, presented net of noncontrolling interests; earnings before income taxes (EBT)-adjusted for our General Motors Financial Company, Inc. (GM Financial) segment; earnings per share (EPS)-diluted-adjusted; effective tax rate-adjusted (ETR-adjusted); return on invested capital-adjusted (ROIC-adjusted) and adjusted automotive free cash flow. GM's calculation of these non-GAAP measures may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related U.S. GAAP measures.

These non-GAAP measures allow management and investors to view operating trends, perform analytical comparisons and benchmark performance between periods and among geographic regions to understand operating performance without regard to items we do not consider a component of our core operating performance. Furthermore, these non-GAAP measures allow investors the opportunity to measure and monitor our performance against our externally communicated targets and evaluate the investment decisions being made by management to improve ROIC-adjusted. Management uses these measures in its financial, investment and operational decision-making processes, for internal reporting and as part of its forecasting and budgeting processes. Further, our Board of Directors uses certain of these and other measures as key metrics to determine management performance under our performance-based compensation plans. For these reasons, we believe these non-GAAP measures are useful for our investors.

EBIT-adjusted EBIT-adjusted is presented net of noncontrolling interests and is used by management and can be used by investors to review our consolidated operating results because it excludes automotive interest income, automotive interest expense and income taxes as well as certain additional adjustments that are not considered part of our core operations. Examples of adjustments to EBIT include, but are not limited to, impairment charges on long-lived assets and other exit costs resulting from strategic shifts in our operations or discrete market and business conditions; costs arising from the ignition switch recall and related legal matters; and certain currency devaluations associated with hyperinflationary economies. For EBIT-adjusted and our other non-GAAP measures, once we have made an adjustment in the current period for an item, we will also adjust the related non-GAAP measure in any future periods in which there is an impact from the item. Our corresponding measure for our GM Financial segment is 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.

EPS-diluted-adjusted EPS-diluted-adjusted is used by management and can be used by investors to review our consolidated diluted EPS results on a consistent basis. EPS-diluted-adjusted is calculated as net income attributable to common stockholders-diluted less adjustments noted above for EBIT-adjusted and certain income tax adjustments divided by weighted-average common shares outstanding-diluted. Examples of income tax adjustments include the establishment or reversal of significant deferred tax asset valuation allowances.

ETR-adjusted ETR-adjusted is used by management and can be used by investors to review the consolidated effective tax rate for our core operations on a consistent basis. ETR-adjusted is calculated as Income tax expense less the income tax related to the adjustments noted above for EBIT-adjusted and the income tax adjustments noted above for EPS-diluted-adjusted divided by Income before income taxes less adjustments. When we provide an expected adjusted effective tax rate, we do not provide an expected effective tax rate because the U.S. GAAP measure may include significant adjustments that are difficult to predict.

ROIC-adjusted ROIC-adjusted is used by management and can be used by investors to review our investment and capital allocation decisions. We define ROIC-adjusted as EBIT-adjusted for the trailing four quarters divided by ROIC-adjusted average net assets, which is considered to be the average equity balances adjusted for average automotive debt and interest liabilities, exclusive of finance leases; average automotive net pension and other postretirement benefits (OPEB) liabilities; and average automotive net income tax assets during the same period.

Adjusted automotive free cash flow Adjusted automotive free cash flow is used by management and can be used by investors to review the liquidity of our automotive operations and to measure and monitor our performance against our capital allocation program and evaluate our automotive liquidity against the substantial cash requirements of our automotive operations. We measure adjusted automotive free cash flow as automotive operating cash flow from operations less capital expenditures adjusted for management actions. Management actions can include voluntary events such as discretionary contributions to employee benefit plans or nonrecurring specific events such as a closure of a facility that are considered special for EBIT-adjusted purposes.

1

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

The following table reconciles segment profit (loss) to Net income (loss) attributable to stockholders under U.S. GAAP (dollars in millions):

			Three Months Ended																		Six Months Ended
			June 30, 2020						June 30, 2019						June 30, 2020						June 30, 2019
Operating segments
GM North America (GMNA)			$	(101)					$	3,022					$	2,093					$	4,918
GM International (GMI)			(270)						(48)						(821)						(17)
Cruise			(195)						(279)						(423)						(448)
GM Financial(a)			226						536						456						895
Total operating segments			(340)						3,231						1,305						5,348
Corporate and eliminations(b)			(196)						(219)						(591)						(26)
EBIT (loss)-adjusted			(536)						3,012						714						5,322
Adjustments
GMI restructuring(c)			(92)						—						(581)						—
Transformation activities(d)			—						(361)						—						(1,151)
GM Brazil indirect tax recoveries(e)			—						380						—						1,237
Total adjustments			(92)						19						(581)						86
Automotive interest income			61						106						144						204
Automotive interest expense			(303)						(195)						(496)						(376)
Income tax (expense) benefit			112						(524)						(245)						(661)
Net income (loss) attributable to stockholders(f)			$	(758)					$	2,418					$	(464)					$	4,575

__________

(a)GM Financial amounts represent EBT-adjusted.

(b)GM's automotive interest income and interest expense, legacy costs from the Opel and Vauxhall businesses and certain other assets in Europe, which are primarily pension costs, corporate expenditures and certain nonsegment-specific revenues and expenses are recorded centrally in Corporate.

(c)These adjustments were excluded because of a strategic decision to rationalize our core operations by exiting or significantly reducing our presence in various international markets to focus resources on opportunities expected to deliver higher returns. The adjustments primarily consist of inventory provisions in the three months ended June 30, 2020 and dealer restructurings, asset impairments, inventory provisions, sales allowances and employee separation charges in the six months ended June 30, 2020.

(d)These adjustments were excluded because of a strategic decision to accelerate our transformation for the future to strengthen our core business, capitalize on the future of personal mobility and drive significant cost efficiencies. The adjustments primarily consist of supplier-related charges and accelerated depreciation in the three months ended June 30, 2019 and accelerated depreciation and supplier-related charges in the six months ended June 30, 2019.

(e)These adjustments were excluded because of the unique events associated with decisions rendered by the Superior Judicial Court of Brazil resulting in retrospective recoveries of indirect taxes.

(f)Net of Net loss attributable to noncontrolling interests.

2

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

The following table reconciles Net income (loss) attributable to stockholders under U.S. GAAP to EBIT (loss)-adjusted (dollars in millions):

			Three Months Ended
			June 30,																		March 31,																		December 31,																		September 30,
			2020						2019						2020						2019						2019						2018						2019						2018
Net income (loss) attributable to stockholders			$	(758)					$	2,418					$	294					$	2,157					$	(194)					$	2,044					$	2,351					$	2,534
Income tax expense (benefit)			(112)						524						357						137						(163)						(611)						271						100
Automotive interest expense			303						195						193						181						200						185						206						161
Automotive interest income			(61)						(106)						(83)						(98)						(96)						(117)						(129)						(82)
Adjustments
GMI restructuring(a)			92						—						489						—						—						—						—						—
Transformation activities(b)			—						361						—						790						194						1,327						390						—
GM Brazil indirect tax recoveries(c)			—						(380)						—						(857)						—						—						(123)						—
FAW-GM divestiture(d)			—						—						—						—						164						—						—						—
Ignition switch recall and related legal matters(e)			—						—						—						—						—						—						—						440
Total adjustments			92						(19)						489						(67)						358						1,327						267						440
EBIT (loss)-adjusted			$	(536)					$	3,012					$	1,250					$	2,310					$	105					$	2,828					$	2,966					$	3,153

________

(a)These adjustments were excluded because of a strategic decision to rationalize our core operations by exiting or significantly reducing our presence in various international markets to focus resources on opportunities expected to deliver higher returns. These adjustments primarily consist of inventory provisions in the three months ended June 30, 2020 and asset impairments, dealer restructurings, employee separation charges and sales allowances in the three months ended March 31, 2020 in Australia, New Zealand and Thailand.

(b)These adjustments were excluded because of a strategic decision to accelerate our transformation for the future to strengthen our core business, capitalize on the future of personal mobility and drive significant cost efficiencies. The adjustments primarily consist of supplier-related charges and accelerated depreciation in the three months ended June 30, 2019, accelerated depreciation in the three months ended March 31, 2019, accelerated depreciation and employee separation charges in the three months ended December 31, 2019, employee separation charges and accelerated depreciation in the three months ended December 31, 2018 and supplier-related charges and pension curtailment and other charges in the three months ended September 30, 2019.

(c)These adjustments were excluded because of the unique events associated with decisions rendered by the Superior Judicial Court of Brazil resulting in retrospective recoveries of indirect taxes.

(d)This adjustment was excluded because we divested our joint venture FAW-GM Light Duty Commercial Vehicle Co., Ltd. (FAW-GM), as a result of a strategic decision by both shareholders, allowing us to focus our resources on opportunities expected to deliver higher returns.

(e)This adjustment was excluded because of the unique events associated with the ignition switch recall, which included various investigations, inquiries and complaints from constituents.

The following table reconciles diluted earnings (loss) per common share under U.S. GAAP to EPS-diluted-adjusted (dollars in millions, except per share amounts):

			Three Months Ended																																										Six Months Ended
			June 30, 2020																		June 30, 2019																		June 30, 2020																		June 30, 2019
			Amount						Per Share						Amount						Per Share						Amount						Per Share						Amount						Per Share
Diluted earnings (loss) per common share			$	(806)					$	(0.56)					$	2,381					$	1.66					$	(559)					$	(0.39)					$	4,500					$	3.13
Adjustments(a)			92						0.06						(19)						(0.01)						581						0.41						(86)						(0.06)
Tax effect on adjustment(b)			5						—						(9)						(0.01)						(68)						(0.05)						(41)						(0.03)
Tax adjustment(c)			—						—						—						—						236						0.16						—						—
EPS-diluted-adjusted			$	(709)					$	(0.50)					$	2,353					$	1.64					$	190					$	0.13					$	4,373					$	3.04

________

(a)Refer to the reconciliation of segment profit (loss) to Net income (loss) attributable to stockholders under U.S. GAAP for adjustment details.

(b)The tax effect of each adjustment is determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates.

(c)This adjustment consists of tax expense related to the establishment of a valuation allowance against deferred tax assets in Australia and New Zealand. This adjustment was excluded because significant impacts of valuation allowances are not considered part of our core operations.

3

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

The following table reconciles our effective tax rate under U.S. GAAP to ETR-adjusted (dollars in millions):

			Three Months Ended																																																																		Six Months Ended
			June 30, 2020																														June 30, 2019																														June 30, 2020																														June 30, 2019
			Income (loss) before income taxes						Income tax benefit						Effective tax rate						Income before income taxes						Income tax expense						Effective tax rate						Income (loss) before income taxes						Income tax expense						Effective tax rate						Income before income taxes						Income tax expense						Effective tax rate
Effective tax rate			$	(892)					$	(112)					12.6		%				$	2,927					$	524					17.9		%				$	(249)					$	245					n.m.						$	5,209					$	661					12.7		%
Adjustments(a)			92						(5)												(16)						9												581						68												(83)						41
Tax adjustment(b)									—																		—																		(236)																		—
ETR-adjusted			$	(800)					$	(117)					14.6		%				$	2,911					$	533					18.3		%				$	332					$	77					23.2		%				$	5,126					$	702					13.7		%

________

n.m. = not meaningful

(a)Refer to the reconciliation of segment profit (loss) to Net income (loss) attributable to stockholders under U.S. GAAP for adjustment details. Net income attributable to noncontrolling interests included for these adjustments is insignificant in the three and six months ended June 30, 2019. The tax effect of each adjustment is determined based on the tax laws and valuation allowance status of the jurisdiction to which the adjustment relates.

(b)Refer to the reconciliation of diluted earnings (loss) per common share under U.S. GAAP to EPS-diluted-adjusted within the previous section for adjustment details.

We define return on equity (ROE) as Net income (loss) attributable to stockholders for the trailing four quarters divided by average equity for the same period. Management uses average equity to provide comparable amounts in the calculation of ROE. The following table summarizes the calculation of ROE (dollars in billions):

			Four Quarters Ended
			June 30, 2020						June 30, 2019
Net income (loss) attributable to stockholders			$	1.7					$	9.2
Average equity(a)			$	42.8					$	41.1
ROE			4.0		%				22.3		%

________

(a)Includes equity of noncontrolling interests where the corresponding earnings (loss) are included in Net income (loss) attributable to stockholders.

The following table summarizes the calculation of ROIC-adjusted (dollars in billions):

			Four Quarters Ended
			June 30, 2020						June 30, 2019
EBIT (loss)-adjusted(a)			$	3.8					$	11.3
Average equity(b)			$	42.8					$	41.1
Add: Average automotive debt and interest liabilities (excluding finance leases)			23.6						14.9
Add: Average automotive net pension & OPEB liability			17.1						16.9
Less: Average automotive and other net income tax asset			(23.9)						(23.1)
ROIC-adjusted average net assets			$	59.6					$	49.8
ROIC-adjusted			6.4		%				22.7		%

________

(a)Refer to the reconciliation of Net income (loss) attributable to stockholders under U.S. GAAP to EBIT (loss)-adjusted.

(b)Includes equity of noncontrolling interests where the corresponding earnings (loss) are included in EBIT (loss)-adjusted.

4

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

The following table reconciles Net automotive cash provided by (used in) operating activities under U.S. GAAP to adjusted automotive free cash flow (dollars in millions):

			Three Months Ended																		Six Months Ended
			June 30, 2020						June 30, 2019						June 30, 2020						June 30, 2019
Net automotive cash provided by (used in) operating activities			$	(7,996)					$	3,813					$	(7,659)					$	1,606
Less: Capital expenditures			(1,107)						(1,435)						(2,312)						(3,428)
Add: GMI restructuring			61						—						84						9
Add: Transformation activities			—						172						—						487
Less: GM Brazil indirect tax recoveries			—						(16)						(58)						(16)
Adjusted automotive free cash flow			$	(9,042)					$	2,534					$	(9,945)					$	(1,342)

The following tables summarize key financial information by segment (dollars in millions):

			GMNA						GMI						Corporate						Eliminations						Total Automotive						Cruise						GM Financial						Reclassifications/Eliminations						Total
Three Months Ended June 30, 2020
Net sales and revenue			$	11,604					$	1,677					$	80											$	13,361					$	28					$	3,423					$	(34)					$	16,778
Expenditures for property			$	916					$	181					$	10					$	—					$	1,107					$	1					$	4					$	—					$	1,112
Depreciation and amortization			$	1,127					$	149					$	6					$	—					$	1,282					$	11					$	1,965					$	—					$	3,258
Impairment charges			$	—					$	7					$	—					$	—					$	7					$	—					$	—					$	—					$	7
Equity income(a)			$	5					$	165					$	—					$	—					$	170					$	—					$	42					$	—					$	212
			GMNA						GMI						Corporate						Eliminations						Total Automotive						Cruise						GM Financial						Reclassifications/Eliminations						Total
Three Months Ended June 30, 2019
Net sales and revenue			$	28,324					$	4,047					$	54											$	32,425					$	25					$	3,639					$	(29)					$	36,060
Expenditures for property			$	1,268					$	166					$	1					$	—					$	1,435					$	19					$	8					$	—					$	1,462
Depreciation and amortization			$	1,409					$	119					$	13					$	—					$	1,541					$	7					$	1,848					$	—					$	3,396
Impairment charges			$	8					$	3					$	—					$	—					$	11					$	—					$	—					$	—					$	11
Equity income (loss)(a)			$	2					$	233					$	(6)					$	—					$	229					$	—					$	42					$	—					$	271
			GMNA						GMI						Corporate						Eliminations						Total Automotive						Cruise						GM Financial						Reclassifications/Eliminations						Total
Six Months Ended June 30, 2020
Net sales and revenue			$	37,435					$	4,957					$	118											$	42,510					$	53					$	6,984					$	(60)					$	49,487
Expenditures for property			$	1,862					$	436					$	14					$	—					$	2,312					$	6					$	18					$	—					$	2,336
Depreciation and amortization			$	2,354					$	315					$	15					$	—					$	2,684					$	19					$	3,753					$	—					$	6,456
Impairment charges			$	20					$	97					$	—					$	—					$	117					$	—					$	—					$	—					$	117
Equity income(a)			$	11					$	2					$	—					$	—					$	13					$	—					$	67					$	—					$	80
			GMNA						GMI						Corporate						Eliminations						Total Automotive						Cruise						GM Financial						Reclassifications/Eliminations						Total
Six Months Ended June 30, 2019
Net sales and revenue			$	55,689					$	7,897					$	100											$	63,686					$	50					$	7,259					$	(57)					$	70,938
Expenditures for property			$	2,969					$	458					$	1					$	—					$	3,428					$	23					$	25					$	—					$	3,476
Depreciation and amortization			$	3,478					$	246					$	25					$	—					$	3,749					$	9					$	3,747					$	—					$	7,505
Impairment charges			$	15					$	3					$	—					$	—					$	18					$	—					$	—					$	—					$	18
Equity income (loss)(a)			$	4					$	607					$	(13)					$	—					$	598					$	—					$	87					$	—					$	685

________

(a)Includes Automotive China equity income of $169 million and $235 million in the three months ended June 30, 2020 and 2019 and $2 million and $611 million in the six months ended June 30, 2020 and 2019.

5

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

Vehicle Sales

GM presents both wholesale and total vehicle sales data to assist in the analysis of our revenue and our market share. Cuba, Iran, North Korea, Sudan and Syria are subject to broad economic sanctions. Accordingly these countries are excluded from industry sales data and the corresponding calculation of GM's market share.

Wholesale vehicle sales data consists of sales to GM's dealers and distributors as well as sales to the U.S. Government and excludes vehicles sold by our joint ventures. Wholesale vehicle sales data correlates to GM's revenue recognized from the sale of vehicles, which is the largest component of Automotive net sales and revenue. In the six months ended June 30, 2020, 32.3% of our wholesale vehicle sales volume was generated outside the U.S. The following table summarizes wholesale vehicle sales by automotive segment (vehicles in thousands):

			Three Months Ended																		Six Months Ended
			June 30, 2020						June 30, 2019						June 30, 2020						June 30, 2019
GMNA			331						870						1,106						1,729
GMI			90						259						281						495
Total			421						1,129						1,387						2,224

6

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

Total vehicle sales data represents: (1) retail sales (i.e., sales to consumers who purchase new vehicles from dealers or distributors); (2) fleet sales, such as sales to large and small businesses, governments, and daily rental car companies; and (3) vehicles used by dealers in their businesses, including courtesy transportation vehicles. Total vehicle sales data includes all sales by joint ventures on a total vehicle basis, not based on our percentage ownership interest in the joint venture. Certain joint venture agreements in China allow for the contractual right to report vehicle sales of non-GM trademarked vehicles by those joint ventures, which are included in the total vehicle sales we report for China. While total vehicle sales data does not correlate directly to the revenue GM recognizes during a particular period, we believe it is indicative of the underlying demand for GM vehicles. Total vehicle sales data represents management's good faith estimate based on sales reported by GM's dealers, distributors, and joint ventures, commercially available data sources such as registration and insurance data, and internal estimates and forecasts when other data is not available.

The following table summarizes total vehicle sales by geographic region (vehicles in thousands):

			Three Months Ended																		Six Months Ended
			June 30, 2020						June 30, 2019						June 30, 2020						June 30, 2019
United States
Chevrolet – Cars			32						90						97						190
Chevrolet – Trucks			176						248						386						446
Chevrolet – Crossovers			125						161						284						316
Cadillac			23						40						54						76
Buick			36						55						69						107
GMC			100						153						221						277
Total United States			492						747						1,111						1,412
Canada, Mexico and Other			73						129						173						239
Total North America			565						876						1,284						1,651
Asia/Pacific, Middle East and Africa
Chevrolet			194						224						366						443
Wuling			271						251						447						517
Buick			213						198						343						423
Baojun			94						136						176						305
Cadillac			60						68						88						114
Other			12						22						30						43
Total Asia/Pacific, Middle East and Africa			844						899						1,450						1,845
South America(a)			57						162						189						318
Total in GM markets			1,466						1,937						2,923						3,814
Total Europe			—						1						—						2
Total Worldwide			1,466						1,938						2,923						3,816

_______

(a)Primarily Chevrolet.

The vehicle sales at GM's China joint ventures presented in the following table are included in the preceding vehicle sales table (vehicles in thousands): 

			Three Months Ended																		Six Months Ended
			June 30, 2020						June 30, 2019						June 30, 2020						June 30, 2019
SAIC General Motors Sales Co., Ltd.			350						372						557						754
SAIC GM Wuling Automobile Co., Ltd.			364						382						618						814

7

General Motors Company and Subsidiaries

Supplemental Material

(Unaudited)

			Three Months Ended																		Six Months Ended
			June 30, 2020						June 30, 2019						June 30, 2020						June 30, 2019
Market Share
United States – Cars			5.5		%				8.5		%				7.0		%				9.1		%
United States – Trucks			30.2		%				30.1		%				30.5		%				29.3		%
United States – Crossovers			13.3		%				13.4		%				14.0		%				13.7		%
Total United States			16.3		%				16.4		%				16.8		%				16.3		%
Total North America			16.0		%				15.8		%				16.4		%				15.7		%
Total Asia/Pacific, Middle East and Africa			8.8		%				7.7		%				7.9		%				7.8		%
Total South America			14.6		%				15.1		%				15.1		%				15.3		%
Total GM Market			10.9		%				10.6		%				10.6		%				10.6		%
Total Worldwide			9.2		%				8.3		%				8.7		%				8.3		%
United States fleet sales as a percentage of retail vehicle sales			11.9		%				23.1		%				20.7		%				24.0		%
North America capacity two-shift utilization			35.8		%				103.7		%				71.8		%				102.1		%

8

General Motors Company and Subsidiaries

Combining Income Statement Information

(In millions) (Unaudited)

			Three Months Ended June 30, 2020																																																						Three Months Ended June 30, 2019
			Automotive						Cruise						GM Financial						Reclassifications/Eliminations						Combined						Automotive						Cruise						GM Financial						Reclassifications/Eliminations						Combined
Net sales and revenue
Automotive			$	13,361					$	28					$	—					$	(26)					$	13,363					$	32,425					$	25					$	—					$	(25)					$	32,425
GM Financial			—						—						3,423						(8)						3,415						—						—						3,639						(4)						3,635
Total net sales and revenue			13,361						28						3,423						(34)						16,778						32,425						25						3,639						(29)						36,060
Costs and expenses
Automotive and other cost of sales			13,256						188						—						—						13,444						28,036						292						—						(1)						28,327
GM Financial interest, operating and other expenses			—						—						3,239						(1)						3,238						—						—						3,145						(1)						3,144
Automotive and other selling, general and administrative expense			1,251						59						—						—						1,310						2,055						47						—						—						2,102
Total costs and expenses			14,507						247						3,239						(1)						17,992						30,091						339						3,145						(2)						33,573
Operating income (loss)			(1,146)						(219)						184						(33)						(1,214)						2,334						(314)						494						(27)						2,487
Automotive interest expense			312						—						—						(9)						303						195						—						—						—						195
Interest income and other non-operating income, net			382						12						—						19						413						320						21						—						23						364
Equity income			170						—						42						—						212						229						—						42						—						271
Income (loss) before income taxes			$	(906)					$	(207)					$	226					$	(5)					(892)						$	2,688					$	(293)					$	536					$	(4)					2,927
Income tax expense (benefit)																											(112)																														524
Net income (loss)																											(780)																														2,403
Net loss attributable to noncontrolling interests																											22																														15
Net income (loss) attributable to stockholders																											$	(758)																													$	2,418
Net income (loss) attributable to common stockholders																											$	(806)																													$	2,381

			Six Months Ended June 30, 2020																																																						Six Months Ended June 30, 2019
			Automotive						Cruise						GM Financial						Reclassifications/Eliminations						Combined						Automotive						Cruise						GM Financial						Reclassifications/Eliminations						Combined
Net sales and revenue
Automotive			$	42,510					$	53					$	—					$	(50)					$	42,513					$	63,686					$	50					$	—					$	(50)					$	63,686
GM Financial			—						—						6,984						(10)						6,974						—						—						7,259						(7)						7,252
Total net sales and revenue			42,510						53						6,984						(60)						49,487						63,686						50						7,259						(57)						70,938
Costs and expenses
Automotive and other cost of sales			39,799						371						—						—						40,170						56,071						487						—						(2)						56,556
GM Financial interest, operating and other expenses			—						—						6,595						(1)						6,594						—						—						6,451						(1)						6,450
Automotive and other selling, general and administrative expense			3,153						127						—						—						3,280						4,135						66						—						—						4,201
Total costs and expenses			42,952						498						6,595						(1)						50,044						60,206						553						6,451						(3)						67,207
Operating income (loss)			(442)						(445)						389						(59)						(557)						3,480						(503)						808						(54)						3,731
Automotive interest expense			505						—						—						(9)						496						379						—						—						(3)						376
Interest income and other non-operating income, net			660						2						—						62						724						1,088						45						—						36						1,169
Equity income			13						—						67						—						80						598						—						87						—						685
Income (loss) before income taxes			$	(274)					$	(443)					$	456					$	12					(249)						$	4,787					$	(458)					$	895					$	(15)					5,209
Income tax expense																											245																														661
Net income (loss)																											(494)																														4,548
Net loss attributable to noncontrolling interests																											30																														27
Net income (loss) attributable to stockholders																											$	(464)																													$	4,575
Net income (loss) attributable to common stockholders																											$	(559)																													$	4,500

9

General Motors Company and Subsidiaries

Basic and Diluted Earnings per Share

(Unaudited)

The following table summarizes basic and diluted earnings (loss) per share (in millions, except per share amounts):

			Three Months Ended																		Six Months Ended
			June 30, 2020						June 30, 2019						June 30, 2020						June 30, 2019
Basic earnings per share
Net income (loss) attributable to stockholders			$	(758)					$	2,418					$	(464)					$	4,575
Less: cumulative dividends on subsidiary preferred stock			(48)						(37)						(95)						(75)
Net income (loss) attributable to common stockholders			$	(806)					$	2,381					$	(559)					$	4,500
Weighted-average common shares outstanding			1,432						1,420						1,432						1,419
Basic earnings (loss) per common share			$	(0.56)					$	1.68					$	(0.39)					$	3.17
Diluted earnings per share
Net income (loss) attributable to common stockholders – diluted			$	(806)					$	2,381					$	(559)					$	4,500
Weighted-average common shares outstanding – diluted			1,432						1,438						1,432						1,437
Diluted earnings (loss) per common share			$	(0.56)					$	1.66					$	(0.39)					$	3.13
Potentially dilutive securities(a)			43						7						43						7

__________

(a)Potentially dilutive securities attributable to outstanding stock options, Performance Share Units and Restricted Stock Units were excluded from the computation of diluted EPS because the securities would have had an antidilutive effect.

10

General Motors Company and Subsidiaries

Combining Balance Sheet Information

(In millions, except per share amounts) (Unaudited)(a)

			June 30, 2020																																																						December 31, 2019
			Automotive						Cruise						GM Financial						Reclassifications/Eliminations						Combined						Automotive						Cruise						GM Financial						Reclassifications/Eliminations						Combined
ASSETS
Current Assets
Cash and cash equivalents			$	20,499					$	1,216					$	6,512					$	—					$	28,228					$	13,409					$	2,349					$	3,311					$	—					$	19,069
Marketable debt securities(b)			8,294						982						—						(23)						9,254						3,908						320						—						(54)						4,174
Accounts and notes receivable, net(c)			7,515						1						2,085						(1,657)						7,946						6,614						2						1,004						(823)						6,797
GM Financial receivables, net(d)			—						—						23,263						(412)						22,851						—						—						27,101						(500)						26,601
Inventories			10,277						3						—						(1)						10,280						10,398						—						—						—						10,398
Other current assets			1,884						25						7,035						(4)						8,938						2,517						16						5,424						(4)						7,953
Total current assets			48,469						2,228						38,895						(2,096)						87,497						36,846						2,687						36,841						(1,383)						74,992
Non-current Assets
GM Financial receivables, net(d)			—						—						28,999						—						28,999						—						—						26,372						(17)						26,355
Equity in net assets of nonconsolidated affiliates			6,240						—						1,484						—						7,724						7,107						—						1,455						—						8,562
Property, net			36,726						137						203						—						37,066						38,374						150						226						—						38,750
Goodwill and intangible assets, net			3,218						726						1,337						—						5,282						3,348						634						1,355						—						5,337
Equipment on operating leases, net			—						—						39,601						—						39,601						—						—						42,055						—						42,055
Deferred income taxes			24,301						471						(117)						—						24,654						24,582						345						(287)						—						24,640
Other assets			5,617						401						752						(59)						6,712						6,123						413						863						(53)						7,346
Total non-current assets			76,104						1,735						72,259						(59)						150,038						79,533						1,542						72,040						(70)						153,045
Total Assets			$	124,573					$	3,963					$	111,154					$	(2,155)					$	237,535					$	116,380					$	4,230					$	108,881					$	(1,454)					$	228,037
LIABILITIES AND EQUITY
Current Liabilities
Accounts payable (principally trade)(b)(c)			$	15,166					$	59					$	648					$	(719)					$	15,154					$	21,101					$	109					$	644					$	(836)					$	21,018
Short-term debt and current portion of long-term debt
Automotive (c)(d)			4,063						—						—						(1,353)						2,710						2,397						—						—						(500)						1,897
GM Financial			—						—						37,313						—						37,313						—						—						35,503						—						35,503
Accrued liabilities			17,701						152						4,879						(5)						22,727						22,493						82						3,916						(4)						26,487
Total current liabilities			36,929						211						42,841						(2,077)						77,904						45,990						192						40,064						(1,341)						84,905
Non-current Liabilities
Long-term debt
Automotive(d)			32,211						—						—						—						32,211						12,507						—						—						(18)						12,489
GM Financial			—						—						54,939						—						54,939						—						—						53,435						—						53,435
Postretirement benefits other than pensions			5,836						—						—						—						5,836						5,935						—						—						—						5,935
Pensions			11,245						—						4						—						11,249						12,166						—						4						—						12,170
Other liabilities			9,600						521						1,841						(59)						11,903						10,518						505						2,176						(53)						13,146
Total non-current liabilities			58,892						521						56,783						(59)						116,138						41,126						505						55,615						(71)						97,175
Total Liabilities			95,821						732						99,625						(2,134)						194,042						87,114						697						95,679						(1,410)						182,080
Commitments and contingencies
Equity
Common stock, $0.01 par value			14						—						—						—						14						14						—						—						—						14
Preferred stock, $0.01 par value			—						—						—						—						—						—						—						—						—						—
Additional paid-in capital(e)			26,099						64						1,238						(1,314)						26,087						26,095						50						1,283						(1,354)						26,074
Retained earnings			11,941						1,239						11,930						(6)						25,104						12,303						1,566						13,013						(22)						26,860
Accumulated other comprehensive loss			(10,263)						—						(1,638)						—						(11,901)						(10,062)						—						(1,094)						—						(11,156)
Total stockholders’ equity			27,790						1,303						11,529						(1,320)						39,304						28,348						1,617						13,202						(1,376)						41,792
Noncontrolling interests(e)			961						1,928						—						1,301						4,189						918						1,916						—						1,331						4,165
Total Equity			28,752						3,231						11,529						(19)						43,493						29,266						3,533						13,202						(43)						45,957
Total Liabilities and Equity			$	124,573					$	3,963					$	111,154					$	(2,155)					$	237,535					$	116,380					$	4,230					$	108,881					$	(1,454)					$	228,037

_________

(a)Amounts may not sum due to rounding.

(b)Includes $505 million of marketable debt securities pending cash settlement and the related payable at June 30, 2020.

(c)Eliminations primarily include: (1) $895 million in intercompany loans for amounts funded to Automotive segments for subvention owed to GM Financial at June 30, 2020; (2) GM Financial accounts and notes receivable of $673 million offset by Automotive accounts and loans payable at June 30, 2020; and (3) GM Financial accounts receivable of $678 million offset by Automotive accounts payable and Automotive accounts receivable of $78 million offset by GM Financial accounts payable at December 31, 2019.

(d)Eliminations include GM Financial loan receivable of $412 million and $517 million offset by an Automotive loan payable at June 30, 2020 and December 31, 2019.

(e)Primarily reclassification of GM Financial Cumulative Perpetual Preferred Stock, Series A and B. The preferred stock is classified as noncontrolling interests in our condensed consolidated balance sheet.

11

General Motors Company and Subsidiaries

Combining Cash Flow Information

(In millions) (Unaudited)(a)

			Six Months Ended June 30, 2020																																																						Six Months Ended June 30, 2019
			Automotive						Cruise						GM Financial						Reclassifications/Eliminations						Combined						Automotive						Cruise						GM Financial						Reclassifications/Eliminations						Combined
Cash flows from operating activities
Net income (loss)			$	(530)					$	(317)					$	341					$	12					$	(494)					$	4,209					$	(329)					$	683					$	(15)					$	4,548
Depreciation and impairment of Equipment on operating leases, net			41						—						3,718						—						3,759						38						—						3,710						—						3,748
Depreciation, amortization and impairment charges on Property, net			2,760						19						35						—						2,814						3,729						9						37						—						3,775
Foreign currency remeasurement and transaction gains			(61)						—						(2)						—						(63)						(174)						—						(4)						—						(178)
Undistributed earnings of nonconsolidated affiliates, net			512						—						(67)						—						446						343						—						(87)						—						256
Pension contributions and OPEB payments			(327)						—						—						—						(327)						(570)						—						—						—						(570)
Pension and OPEB income, net			(518)						—						—						—						(518)						(306)						—						—						—						(306)
Provision (benefit) for deferred taxes			17						(126)						86						—						(24)						30						(129)						178						—						79
Change in other operating assets and liabilities(b)(c)(d)			(9,552)						37						(30)						2,699						(6,847)						(5,693)						83						(224)						(522)						(6,357)
Net cash provided by (used in) operating activities			(7,659)						(387)						4,079						2,711						(1,254)						1,606						(367)						4,293						(538)						4,995
Cash flows from investing activities
Expenditures for property			(2,312)						(6)						(18)						—						(2,336)						(3,428)						(23)						(25)						—						(3,476)
Available-for-sale marketable securities, acquisitions			(5,948)						(1,708)						—						—						(7,656)						(1,314)						(899)						—						—						(2,213)
Available-for-sale marketable securities, liquidations			2,674						1,038						—						(18)						3,694						1,244						26						—						(26)						1,244
Purchases of finance receivables, net(b)(c)			—						—						(16,003)						1,073						(14,929)						—						—						(14,670)						914						(13,757)
Principal collections and recoveries on finance receivables(b)(c)			—						—						13,314						(3,751)						9,563						—						—						12,096						(388)						11,708
Purchases of leased vehicles, net			—						—						(6,054)						—						(6,054)						—						—						(8,189)						—						(8,189)
Proceeds from termination of leased vehicles			—						—						5,537						—						5,537						—						—						6,444						—						6,444
Other investing activities(e)			(2)						(72)						—						(81)						(155)						(587)						—						(5)						690						99
Net cash used in investing activities			(5,588)						(748)						(3,223)						(2,777)						(12,336)						(4,083)						(897)						(4,349)						1,190						(8,140)
Cash flows from financing activities
Net increase in short-term debt(c)			965						—						821						(940)						846						693						—						243						—						936
Proceeds from issuance of debt (original maturities greater than three months)			21,103						—						32,361						—						53,465						986						—						19,525						—						20,511
Payments on debt (original maturities greater than three months)			(479)						—						(29,197)						164						(29,512)						(222)						—						(20,402)						—						(20,625)
Proceeds from issuance of preferred stock(e)			—						—						—						—						—						—						1,101						—						(687)						414
Dividends paid(d)			(547)						—						(845)						800						(592)						(1,109)						(31)						(46)						2						(1,184)
Other financing activities			(438)						3						(97)						39						(491)						(215)						(4)						(78)						33						(264)
Net cash provided by (used in) financing activities			20,605						3						3,044						65						23,716						132						1,066						(758)						(652)						(212)
Effect of exchange rate changes on cash, cash equivalents and restricted cash			(281)						—						(149)						—						(429)						20						—						22						—						42
Net increase (decrease) in cash, cash equivalents and restricted cash			7,077						(1,132)						3,751						—						9,697						(2,325)						(197)						(792)						—						(3,315)
Cash, cash equivalents and restricted cash at beginning of period			13,487						2,355						7,102						—						22,943						13,762						2,291						7,443						—						23,496
Cash, cash equivalents and restricted cash at end of period			$	20,563					$	1,222					$	10,854					$	—					$	32,640					$	11,437					$	2,093					$	6,651					$	—					$	20,181

_________

(a)Amounts may not sum due to rounding.

(b)Includes reclassifications of $3.4 billion and $432 million in the six months ended June 30, 2020 and 2019 for purchases/collections of wholesale finance receivables resulting from vehicles sold by GM to dealers that have arranged their inventory floor plan financing through GM Financial.

(c)Eliminations include: (1) $895 million in intercompany loans for amounts funded to Automotive segments for subvention owed to GM Financial in the six months ended June 30, 2020; (2) $134 million and $482 million in other Purchases of finance receivables, net in the six months ended June 30, 2020 and 2019; and (3) $336 million and $388 million in Principal collections and recoveries on finance receivables in the six months ended June 30, 2020 and 2019; all primarily related to the re-timing of cash receipts and payments between Automotive and GM Financial.

(d)Eliminations include dividends issued by GM Financial to Automotive.

(e)Eliminations include $690 million in the six months ended June 30, 2019 primarily for Automotive cash injections in Cruise, inclusive of our investments of $687 million in Cruise Preferred Shares.

12