Stock Analysis on Net
Stock Analysis on Net

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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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 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 0.14 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 12.77 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 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 10.86 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 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 5.52 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 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 32.55% 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 1.42 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 1.68 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 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 43.26% 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 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 0.06 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 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Additional paid-in capital 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 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 -3.66 -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 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 0.72 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 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%

Based on: 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 of the organization is characterized by a high reliance on liabilities, which consistently represent between 72% and 78% of total liabilities and equity over the analyzed period. While there was a moderate period of deleveraging between 2021 and 2023, total liabilities trended upward again toward the end of the period, reaching 76.98% by March 2026.

Current Liabilities Trend
Current liabilities remained relatively stable, generally fluctuating between 30% and 34% of the total balance sheet. Accrued liabilities showed a gradual increase from 8.73% in March 2021 to 10.86% by March 2026. Accounts payable remained a significant component, peaking at 10.84% in early 2023 before settling around 9.93% in the final quarter.
Long-Term Debt and Non-Current Obligations
Long-term debt, excluding the current portion, showed cyclical behavior, fluctuating between a low of 28.48% in September 2023 and a high of 34.29% in March 2024. A notable structural shift is observed in employee-related obligations; pensions decreased significantly from 5.06% in March 2021 to 1.68% by March 2026, and postretirement benefits fell from 2.62% to 1.42% over the same timeframe.
Equity Composition and Growth
Total equity exhibited a growth phase from March 2021 (22.84%) through late 2023 (27.83%), followed by a contraction to 23.02% by March 2026. This trend was driven by a substantial increase in retained earnings, which rose from 14.68% in March 2021 to a peak of 21.45% in September 2024, before declining to 19.00%. Conversely, additional paid-in capital saw a steady decline from 11.19% to 6.95% over the period.
Financial Segment Influence
The GM Financial component remains a dominant driver of the balance sheet. Within current liabilities, GM Financial consistently accounts for a large share, rising from 25.07% in early 2021 to 27.03% by March 2026, indicating the continued significance of the financing arm's obligations relative to the total corporate structure.
Comprehensive Loss and Noncontrolling Interests
Accumulated other comprehensive loss remained negative throughout the period, with the most significant impact seen in March 2021 (-5.59%) and a relative improvement to -3.66% by March 2026. Noncontrolling interests showed a consistent downward trend, decreasing from 2.56% in early 2021 to 0.72% by the end of the series.

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