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Segment Reporting
3 Months Ended
Mar. 31, 2021
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting We analyze the results of our business through the following reportable segments: GMNA, GMI, Cruise and GM Financial. The chief operating decision maker evaluates the operating results and performance of our automotive segments and Cruise through earnings before interest and income taxes (EBIT)-adjusted, which is presented net of noncontrolling interests. The chief operating decision maker evaluates GM Financial through earnings before income taxes (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. Each segment has a manager responsible for executing our strategic initiatives. 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 trucks, crossovers, cars 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, trucks, crossovers and cars 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 and GMC 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 and Wuling brands. Cruise is our global segment responsible for the development and commercialization of autonomous vehicle technology, and includes autonomous vehicle-related engineering and other costs.

Our automotive interest income and interest expense, legacy costs from the Opel/Vauxhall Business (primarily pension costs), corporate expenditures and certain nonsegment-specific revenues and expenses are recorded centrally in Corporate. Corporate assets primarily consist of cash and cash equivalents, marketable debt securities, Stellantis warrants 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 Three Months Ended March 31, 2021
GMNAGMICorporateEliminationsTotal AutomotiveCruiseGM FinancialEliminations/ReclassificationsTotal
Net sales and revenue$25,957 $3,086 $19 $29,062 $30 $3,407 $(25)$32,474 
Earnings (loss) before interest and taxes-adjusted$3,134 $308 $30 $3,472 $(229)$1,182 $(8)$4,417 
Adjustments$— $— $— $— $— $— $— — 
Automotive interest income32 
Automotive interest expense(250)
Net (loss) attributable to noncontrolling interests(8)
Income before income taxes4,191 
Income tax expense(1,177)
Net income3,014 
Net loss attributable to noncontrolling interests
Net income attributable to stockholders$3,022 
Equity in net assets of nonconsolidated affiliates$355 $6,994 $— $— $7,349 $— $1,630 $— $8,979 
Goodwill and intangibles$2,320 $796 $— $— $3,116 $730 $1,339 $— $5,185 
Total assets$113,926 $22,798 $36,271 $(53,147)$119,848 $5,324 $114,597 $(1,358)$238,411 
Depreciation and amortization$1,198 $132 $$— $1,336 $11 $1,668 $— $3,015 
Impairment charges$— $— $— $— $— $— $— $— $— 
Equity income$$307 $— $— $311 $— $54 $— $365 

At and For the Three Months Ended March 31, 2020
GMNAGMICorporateEliminationsTotal AutomotiveCruiseGM FinancialEliminations/ReclassificationsTotal
Net sales and revenue$25,831 $3,280 $38 $29,149 $25 $3,561 $(26)$32,709 
Earnings (loss) before interest and taxes-adjusted$2,194 $(551)$(411)$1,232 $(228)$230 $16 $1,250 
Adjustments(a)$— $(489)$— $(489)$— $— $— (489)
Automotive interest income83 
Automotive interest expense(193)
Net (loss) attributable to noncontrolling interests(8)
Income before income taxes643 
Income tax expense(357)
Net income286 
Net loss attributable to noncontrolling interests
Net income attributable to stockholders$294 
Equity in net assets of nonconsolidated affiliates$93 $5,991 $— $— $6,084 $— $1,437 $— $7,521 
Goodwill and intangibles$2,432 $820 $$— $3,253 $634 $1,338 $— $5,225 
Total assets$109,159 $23,213 $45,965 $(49,766)$128,571 $4,069 $115,381 $(1,397)$246,624 
Depreciation and amortization$1,227 $166 $$— $1,402 $$1,788 $— $3,198 
Impairment charges$20 $90 $— $— $110 $— $— $— $110 
Equity income (loss)$$(163)$— $— $(157)$— $25 $— $(132)
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(a)Consists of restructuring and other charges in Australia, New Zealand and Thailand.