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General Motors Co. (NYSE:GM)

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

General Motors Co., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

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Jun 30, 2026 Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Accounts payable, principally trade 10.20 9.93 8.50 9.48 9.36 9.55 9.18 10.24 10.16 10.63 10.30 10.79 10.80 10.84 10.41 10.32 10.21 10.04 8.33 7.82 8.86 8.58
Automotive 0.18 0.14 0.23 0.15 0.58 0.77 0.77 0.33 0.33 0.14 0.16 0.14 0.16 0.16 0.74 0.17 0.26 0.29 0.19 0.20 0.37 0.48
GM Financial 12.91 12.77 12.45 12.51 12.66 11.97 13.33 12.17 13.14 12.87 14.11 13.58 13.13 13.70 13.94 13.29 12.48 12.84 13.59 14.40 13.77 14.23
Short-term debt and current portion of long-term debt 13.09% 12.92% 12.68% 12.66% 13.24% 12.74% 14.09% 12.50% 13.46% 13.01% 14.27% 13.72% 13.29% 13.86% 14.69% 13.47% 12.74% 13.14% 13.78% 14.60% 14.14% 14.71%
Accrued liabilities 10.96 10.86 12.00 10.24 9.82 9.88 11.14 10.26 10.07 9.55 10.02 9.86 9.52 9.08 9.43 9.22 8.36 8.46 8.29 7.75 7.94 8.73
Current liabilities 34.25% 33.71% 33.18% 32.38% 32.42% 32.17% 34.41% 33.00% 33.70% 33.18% 34.59% 34.37% 33.61% 33.78% 34.53% 33.01% 31.32% 31.63% 30.41% 30.16% 30.94% 32.01%
Automotive 5.47 5.52 5.54 5.44 5.36 4.78 4.76 5.37 5.45 5.77 5.85 5.67 5.79 5.97 6.02 7.04 6.36 6.42 6.68 6.86 6.79 6.88
GM Financial 26.60 27.03 28.09 27.88 28.30 29.52 27.51 26.32 25.77 25.42 24.46 22.81 23.71 23.03 22.74 22.72 24.44 24.10 24.23 24.21 24.93 25.07
Long-term debt, excluding current portion 32.07% 32.55% 33.63% 33.32% 33.66% 34.29% 32.28% 31.69% 31.22% 31.19% 30.31% 28.48% 29.50% 28.99% 28.75% 29.76% 30.80% 30.53% 30.92% 31.08% 31.72% 31.95%
Postretirement benefits other than pensions 1.39 1.42 1.43 1.37 1.38 1.41 1.43 1.46 1.50 1.55 1.59 1.45 1.50 1.56 1.59 2.12 2.22 2.28 2.35 2.56 2.56 2.62
Pensions 1.61 1.68 1.77 2.08 2.10 2.04 2.07 2.07 2.18 2.31 2.45 1.96 2.06 2.13 2.16 2.66 2.90 3.09 3.27 4.54 4.78 5.06
Other liabilities 8.17 7.62 7.52 7.12 6.78 6.54 6.38 6.13 5.98 6.25 6.05 5.79 5.78 5.74 5.59 5.68 5.79 5.81 6.16 6.38 6.06 5.52
Non-current liabilities 43.24% 43.26% 44.36% 43.89% 43.93% 44.29% 42.15% 41.36% 40.89% 41.29% 40.40% 37.68% 38.84% 38.42% 38.09% 40.21% 41.71% 41.70% 42.70% 44.55% 45.13% 45.15%
Total liabilities 77.49% 76.98% 77.54% 76.26% 76.34% 76.45% 76.55% 74.36% 74.59% 74.47% 74.98% 72.05% 72.46% 72.20% 72.62% 73.22% 73.03% 73.33% 73.11% 74.71% 76.06% 77.16%
Noncontrolling interest, Cruise stock incentive awards 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06 0.04 0.11 0.10 0.10 0.14 0.09 0.05 0.11 0.00 0.00 0.00 0.00
Common stock, $0.01 par value 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Additional paid-in capital 6.79 6.95 7.08 7.04 7.12 7.21 7.45 6.69 6.93 7.00 7.01 9.25 9.45 9.86 10.01 10.23 10.75 10.74 11.06 11.29 11.10 11.19
Retained earnings 18.74 19.00 18.32 19.73 19.58 19.55 19.11 21.45 21.14 20.86 20.28 19.99 19.40 19.22 18.65 18.39 17.97 17.45 17.14 16.86 15.64 14.68
Accumulated other comprehensive loss -3.60 -3.66 -3.68 -3.75 -3.78 -3.94 -4.02 -3.62 -3.81 -3.78 -3.75 -2.81 -2.88 -2.91 -2.99 -3.57 -3.50 -3.50 -3.79 -5.45 -5.37 -5.59
Stockholders’ equity 21.93% 22.30% 21.73% 23.03% 22.93% 22.82% 22.54% 24.52% 24.26% 24.08% 23.54% 26.44% 25.98% 26.17% 25.68% 25.05% 25.23% 24.69% 24.41% 22.70% 21.37% 20.28%
Noncontrolling interests 0.58 0.72 0.73 0.70 0.72 0.73 0.90 1.12 1.15 1.38 1.43 1.39 1.46 1.53 1.57 1.64 1.70 1.86 2.48 2.59 2.57 2.56
Total equity 22.51% 23.02% 22.46% 23.74% 23.66% 23.55% 23.45% 25.64% 25.41% 25.46% 24.97% 27.83% 27.44% 27.70% 27.24% 26.69% 26.93% 26.55% 26.89% 25.29% 23.94% 22.84%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).

The capital structure exhibits a cyclical pattern over the analyzed period, characterized by an initial reduction in leverage followed by a return to higher liability levels. Total liabilities declined from 77.16% in March 2021 to a low of 72.05% in September 2023, before trending upward again to reach 77.49% by June 2026. Conversely, total equity peaked at 27.83% in September 2023, subsequently contracting to 22.51% by the end of the period.

Liability Composition and Debt Trends
Current liabilities remained relatively stable, generally fluctuating between 30% and 34% of total liabilities and equity. A significant portion of this is driven by GM Financial, which consistently represents between 22% and 29% of the total balance sheet. Long-term debt, excluding the current portion, showed moderate volatility, peaking at 34.29% in March 2025 before stabilizing around 32.07% by June 2026.
Legacy Obligation Reduction
A consistent and significant downward trend is observed in legacy costs. Pension liabilities decreased from 5.06% in March 2021 to 1.61% in June 2026. Similarly, postretirement benefits other than pensions declined from 2.62% to 1.39% over the same period. This suggests a systematic reduction in long-term defined benefit obligations relative to the total balance sheet.
Equity Component Dynamics
Retained earnings demonstrated a strong upward trajectory for much of the period, rising from 14.68% in March 2021 to a peak of 21.45% in September 2024, indicating sustained internal capital accumulation. This growth was partially offset by a steady decline in additional paid-in capital, which dropped from 11.19% to 6.79% by June 2026. Accumulated other comprehensive loss remained a persistent drag on equity, fluctuating between -2.81% and -5.59%.
Operational Liability Shifts
Accounts payable, principally trade, showed relative stability around the 10% mark for several years before experiencing a slight dip to 8.50% in December 2025 and recovering to 10.20% by June 2026. Accrued liabilities exhibited a gradual increase, moving from 8.73% in March 2021 to 10.96% by June 2026, reflecting a growing proportion of short-term obligations.

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