General Motors Co. (GM)
Analysis of Revenues
Accounting Policy on Revenue Recognition
General Motors adopted ASU 2014-09 on January 1, 2018, which requires General Motors to recognize revenue when a customer obtains control rather than when General Motors has transferred substantially all risks and rewards of a good or service. General Motors adopted ASU 2014-09 by applying the modified retrospective method to all noncompleted contracts as of the date of adoption. The comparative information has not been restated and continues to be reported under the accounting standards in effect for those periods.
Source: 10-K (filing date: 2019-02-06).
Revenues as Reported
General Motors Co., Income Statement, Revenues
US$ in millions
|12 months ended||Dec 31, 2018||Dec 31, 2017||Dec 31, 2016||Dec 31, 2015||Dec 31, 2014|
|GM North America (GMNA)|
|GM Europe (GME)|
|GM International (GMI)|
|Automotive net sales and revenue|
|Automotive net sales and revenue||Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).||General Motors Co.’s automotive net sales and revenue decreased from 2016 to 2017 and from 2017 to 2018.|