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Segment Reporting
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Our chief operating decision-maker, who is Chair and Chief Executive Officer, analyzes the results of our business through the following reportable segments: GMNA, GMI and GM Financial. Our chief operating decision-maker evaluates the operating results and performance of our Automotive operations through earnings before interest and income taxes (EBIT)-adjusted, which is presented net of noncontrolling interests. Our chief operating decision-maker evaluates GM Financial through earnings before income taxes-adjusted (EBT-adjusted) because interest income and interest expense are an integral part of its operational and financial performance. These financial metrics are used to view operating trends, perform analytical comparisons and benchmark performance between periods and among geographic regions and to monitor budget-to-actual variances on a monthly basis. To manage operations and make decisions regarding resource allocations, our chief operating decision-maker is regularly provided and reviews expense information at a consolidated, functional level for our global purchasing and supply chain, manufacturing and engineering functions. Warranty and quality metrics are also viewed on a consolidated basis. Currently, a focus is being placed on driving an efficient, consolidated fixed cost structure and managing overall global headcount. Vehicle-level profitability metrics are also reviewed during the planning stage and throughout a program's life cycle on a forecasted basis, and not on an actual basis. Each segment has a manager responsible for executing our strategic initiatives.

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 and 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. Our Cruise business was pursuing the development and commercialization of AV technology until, in December 2024, we announced plans to refocus our autonomous driving strategy on personal vehicles and no longer fund Cruise's robotaxi development work. Cruise activity includes ongoing costs to be incurred related to the wind down of the robotaxi business. We have combined the GM and Cruise ongoing personal autonomous technical efforts in our GMNA segment. We provide automotive financing services through our GM Financial segment.

Our automotive interest income and interest expense, corporate expenditures, legacy costs from the Opel/Vauxhall Business (primarily pension costs) and certain revenues and expenses that are not part of a reportable segment are recorded centrally in Corporate. Corporate assets primarily consist of cash and cash equivalents, marketable debt securities and intersegment balances. 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 September 30, 2025
GMNAGMIGM FinancialTotal Reportable Segments
Net sales and revenue$40,551 $3,645 $4,337 $48,533 
Segment expenses and other items(a)(38,045)(3,419)(3,533)(44,996)
Earnings (loss) before interest and taxes-adjusted$2,506 $226 $804 $3,536 
Adjustments(b)(1,917)— — (1,917)
Corporate(176)
Eliminations— 
Automotive interest income220 
Automotive interest expense(209)
Net income (loss) attributable to noncontrolling interests(35)
Income (loss) before income taxes$1,419 
GMNAGMICruiseGM FinancialTotal Reportable SegmentsCorporateEliminationsTotal
Net sales and revenue$40,551 $3,645 $— $4,337 $48,533 $60 $(2)$48,591 
Equity in net assets of nonconsolidated affiliates$3,324 $1,588 $— $1,095 $6,007 $266 $— $6,272 
Goodwill and intangibles$2,449 $655 $$1,348 $4,452 $— $— $4,452 
Total assets$164,001 $22,690 $309 $141,276 $328,276 $29,943 $(70,051)$288,168 
Expenditures for property$2,011 $92 $— $17 $2,119 $11 $— $2,130 
Depreciation and amortization$1,703 $114 $— $1,245 $3,063 $$— $3,066 
Impairment charges$1,044 $— $— $— $1,044 $— $— $1,044 
Equity income (loss)(c)$214 $83 $— $$307 $(16)$— $290 
__________
(a)Segment expenses and other items for GMNA and GMI primarily include material and logistics; manufacturing; equity income; selling, general and administrative people-related costs; advertising; information technology; engineering; professional services; and policy, campaign and warranty. GM Financial items primarily consist of GM Financial interest expense; leased vehicle depreciation; people-related costs; provision for loan losses and gains and losses on termination of leased vehicles.
(b)Consists of charges for EV strategic realignment, OnStar Smart Driver and Cruise restructuring in GMNA.
(c)Equity earnings related to Ultium Cells Holdings LLC are presented in Automotive and other cost of sales as this entity is integral to the operations of our business by providing battery cells for our EVs. Refer to Note 7 for additional information.
At and For the Three Months Ended September 30, 2024
GMNAGMICruiseGM FinancialTotal Reportable Segments
Net sales and revenue$41,157 $3,517 $26 $4,031 $48,731 
Segment expenses and other items(a)(37,175)(3,475)(409)(3,344)(44,403)
Earnings (loss) before interest and taxes-adjusted$3,982 $42 $(383)$687 $4,327 
Adjustments(b)(340)(43)— — (383)
Corporate(238)
Eliminations(8)
Automotive interest income274 
Automotive interest expense(206)
Net income (loss) attributable to noncontrolling interests(48)
Income (loss) before income taxes$3,717 
GMNAGMICruiseGM FinancialTotal Reportable SegmentsCorporateEliminationsTotal
Net sales and revenue$41,157 $3,517 $26 $4,031 $48,731 $62 $(36)$48,757 
Equity in net assets of nonconsolidated affiliates$3,894 $5,575 $— $1,570 $11,039 $— $— $11,039 
Goodwill and intangibles$1,996 $686 $717 $1,346 $4,745 $— $— $4,745 
Total assets$169,036 $25,767 $3,552 $135,918 $334,274 $45,160 $(90,145)$289,289 
Expenditures for property$2,128 $91 $$$2,227 $10 $$2,245 
Depreciation and amortization$1,491 $131 $$1,217 $2,846 $27 $— $2,873 
Impairment charges$— $— $— $— $— $— $— $— 
Equity income (loss)(c)$309 $(132)$— $10 $187 $— $— $187 
__________
(a)Segment expenses and other items for GMNA and GMI primarily include material and logistics; manufacturing; equity income; selling, general and administrative people-related costs; advertising; information technology; engineering; professional services; and policy, campaign and warranty. GM Financial items primarily consist of GM Financial interest expense; leased vehicle depreciation; people-related costs; provision for loan losses and gains and losses on termination of leased vehicles. Cruise items primarily consist of people-related costs.
(b)Consists of charges for strategic activities related to restructuring and Buick dealerships in GMNA and charges related to manufacturing operations wind down in GMI.
(c)Equity earnings related to Ultium Cells Holdings LLC are presented in Automotive and other cost of sales as this entity is integral to the operations of our business by providing battery cells for our EVs. Refer to Note 7 for additional information.
For the Nine Months Ended September 30, 2025
GMNAGMICruiseGM FinancialTotal Reportable Segments
Net sales and revenue$117,424 $9,398 $$12,756 $139,579 
Segment expenses and other items(a)(109,217)(8,938)(274)(10,563)(128,992)
Earnings (loss) before interest and taxes-adjusted$8,207 $460 $(273)$2,193 $10,587 
Adjustments(b)(2,312)(260)— — (2,572)
Corporate(730)
Eliminations(4)
Automotive interest income611 
Automotive interest expense(560)
Net income (loss) attributable to noncontrolling interests33 
Income (loss) before income taxes$7,366 
GMNAGMICruiseGM FinancialTotal Reportable SegmentsCorporateEliminationsTotal
Net sales and revenue$117,424 $9,398 $$12,756 $139,579 $163 $(9)$139,732 
Expenditures for property$5,729 $274 $$27 $6,033 $50 $— $6,083 
Depreciation and amortization$4,933 $347 $$3,701 $8,986 $39 $— $9,026 
Impairment charges$1,044 $18 $— $— $1,063 $— $— $1,063 
Equity income (loss)(c)$469 $208 $— $37 $714 $(30)$— $684 
__________
(a)Segment expenses and other items for GMNA and GMI primarily include material and logistics; manufacturing; equity income; selling, general and administrative people-related costs; advertising; information technology; engineering; professional services; and policy, campaign and warranty. GM Financial items primarily consist of GM Financial interest expense; leased vehicle depreciation; people-related costs; provision for loan losses and gains and losses on termination of leased vehicles. Cruise items primarily consist of ongoing costs incurred related to the wind down of Cruise robotaxi activities.
(b)Consists of charges for EV and Ultium Cells Holdings LLC strategic realignments, OnStar Smart Driver and Cruise restructuring in GMNA and charges related to restructuring activities and manufacturing operations wind down in GMI.
(c)Equity earnings related to Ultium Cells Holdings LLC are presented in Automotive and other cost of sales as this entity is integral to the operations of our business by providing battery cells for our EVs. Refer to Note 7 for additional information.
For the Nine Months Ended September 30, 2024
GMNAGMICruiseGM FinancialTotal Reportable Segments
Net sales and revenue$117,981 $9,897 $76 $11,761 $139,715 
Segment expenses and other items(a)(105,726)(9,815)(1,360)(9,515)(126,416)
Earnings (loss) before interest and taxes-adjusted$12,254 $82 $(1,284)$2,246 $13,299 
Adjustments(b)(511)(146)(583)— (1,240)
Corporate(884)
Eliminations(25)
Automotive interest income688 
Automotive interest expense(631)
Net income (loss) attributable to noncontrolling interests(132)
Income (loss) before income taxes$11,076 
GMNAGMICruiseGM FinancialTotal Reportable SegmentsCorporateEliminationsTotal
Net sales and revenue$117,981 $9,897 $76 $11,761 $139,715 $130 $(105)$139,740 
Expenditures for property$7,220 $258 $$16 $7,498 $18 $81 $7,597 
Depreciation and amortization$4,415 $403 $18 $3,662 $8,498 $53 $— $8,551 
Impairment charges$— $— $605 $— $605 $— $— $605 
Equity income (loss)(c)$766 $(343)$— $55 $477 $— $— $477 
__________
(a)Segment expenses and other items for GMNA and GMI primarily include material and logistics; manufacturing; equity income; selling, general and administrative people-related costs; advertising; information technology; engineering; professional services; and policy, campaign and warranty. GM Financial items primarily consist of GM Financial interest expense; leased vehicle depreciation; people-related costs; provision for loan losses and gains and losses on termination of leased vehicles. Cruise items primarily consist of people-related costs.
(b)Consists of charges for strategic activities related to restructuring actions and Buick dealerships in GMNA, charges related to manufacturing operations wind down in GMI and charges related to Cruise restructuring.
(c)Equity earnings related to Ultium Cells Holdings LLC are presented in Automotive and other cost of sales as this entity is integral to the operations of our business by providing battery cells for our EVs. Refer to Note 7 for additional information.