Equity In Net Assets Of Nonconsolidated Affiliates

12 Months Ended

Dec. 31, 2020

Equity Method Investments and Joint Ventures [Abstract]

Equity in Net Assets of Nonconsolidated Affiliates

Nonconsolidated affiliates are entities in which we maintain an equity ownership interest and for which we use the equity method of accounting due to our ability to exert significant influence over decisions relating to their operating and financial affairs. Revenue and expenses of our joint ventures are not consolidated into our financial statements; rather, our proportionate share of the earnings of each joint venture is reflected as Equity income.


	Years Ended December 31,
	2020		2019		2018
Automotive China equity income	$	512	$	1,132	$	1,981
Other joint ventures equity income	162		136		182
Total Equity income	$	674	$	1,268	$	2,163

Investments in Nonconsolidated Affiliates


	December 31, 2020		December 31, 2019
Automotive China carrying amount	$	6,599	$	7,044
Other investments carrying amount	1,807		1,518
Total equity in net assets of nonconsolidated affiliates	$	8,406	$	8,562

The carrying amount of our investments in certain joint ventures exceeded our share of the underlying net assets by $4.2 billion at December 31, 2020 and 2019 primarily due to goodwill from the application of fresh-start reporting and the purchase of additional interests in nonconsolidated affiliates.

The following table summarizes our direct ownership interests in our China JVs:


	December 31, 2020		December 31, 2019
Automotive China JVs
SAIC General Motors Corp., Ltd. (SGM)	50	%	50	%
Pan Asia Technical Automotive Center Co., Ltd.	50	%	50	%
SAIC General Motors Sales Co., Ltd.	49	%	49	%
SAIC GM Wuling Automobile Co., Ltd. (SGMW)	44	%	44	%
Shanghai OnStar Telematics Co., Ltd. (Shanghai OnStar)	40	%	40	%
SAIC GM (Shenyang) Norsom Motors Co., Ltd. (SGM Norsom)	25	%	25	%
SAIC GM Dong Yue Motors Co., Ltd. (SGM DY)	25	%	25	%
SAIC GM Dong Yue Powertrain Co., Ltd. (SGM DYPT)	25	%	25	%
Other joint ventures
SAIC-GMAC Automotive Finance Company Limited (SAIC-GMAC)	35	%	35	%
SAIC-GMF Leasing Co., Ltd.	35	%	35	%

SGM is a joint venture we established with Shanghai Automotive Industry Corporation (SAIC) (50%). SGM has interests in three other joint ventures in China: SGM Norsom, SGM DY and SGM DYPT. These three joint ventures are jointly held by SGM (50%), SAIC (25%) and ourselves. These four joint ventures are engaged in the production, import and sale of a range of products under the Buick, Chevrolet and Cadillac brands. SGM also has interests in Shanghai OnStar (20%), SAIC-GMAC (20%) and SAIC-GMF Leasing Co., Ltd. (20%). Shanghai Automotive Group Finance Company Ltd., a subsidiary of SAIC, owns 45% of SAIC-GMAC. SAIC Financial Holdings Company, a subsidiary of SAIC, owns 45% of SAIC-GMF Leasing Co., Ltd.

Summarized Financial Data of Nonconsolidated Affiliates


	December 31, 2020						December 31, 2019
	Automotive China JVs		Others		Total		Automotive China JVs		Others		Total
Summarized Balance Sheet Data
Current assets	$	17,604	$	16,844	$	34,448	$	14,035	$	13,319	$	27,354
Non-current assets	14,875		8,634		23,509		14,484		6,680		21,164
Total assets	$	32,479	$	25,478	$	57,957	$	28,519	$	19,999	$	48,518

Current liabilities	$	25,633	$	14,808	$	40,441	$	21,256	$	11,588	$	32,844
Non-current liabilities	1,163		6,654		7,817		968		5,017		5,985
Total liabilities	$	26,796	$	21,462	$	48,258	$	22,224	$	16,605	$	38,829

Noncontrolling interests	$	824	$	1	$	825	$	847	$	1	$	848


	Years Ended December 31,
	2020		2019		2018
Summarized Operating Data
Automotive China JVs' net sales	$	38,736	$	39,123	$	50,316
Others' net sales	1,850		1,815		1,721
Total net sales	$	40,586	$	40,938	$	52,037

Automotive China JVs' net income	$	1,239	$	2,258	$	3,992
Others' net income	436		477		536
Total net income	$	1,675	$	2,735	$	4,528

Transactions with Nonconsolidated Affiliates Our nonconsolidated affiliates are involved in various aspects of the development, production and marketing of trucks, crossovers, cars and automobile parts. We enter into transactions with certain nonconsolidated affiliates to purchase and sell component parts and vehicles. The following tables summarize transactions with and balances related to our nonconsolidated affiliates:


	Years Ended December 31,
	2020		2019		2018
Automotive sales and revenue	$	235	$	199	$	406
Automotive purchases, net	$	165	$	1,065	$	1,155
Dividends received	$	1,198	$	1,852	$	2,022
Operating cash flows	$	1,473	$	913	$	657


	December 31, 2020		December 31, 2019
Accounts and notes receivable, net	$	954	$	1,007
Accounts payable	$	494	$	369
Undistributed earnings	$	1,594	$	2,118