Balance Sheet: Assets
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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General Motors Co. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2010
- Debt to Equity since 2010
- Price to Book Value (P/BV) since 2010
- Analysis of Revenues
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General Motors Co., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The financial data reveals several notable trends over the five-year period ending December 31, 2024.
- Liquidity Indicators
- Cash and cash equivalents show relative stability, fluctuating slightly but remaining close to the 20 billion US$ mark, with a minor dip observed in 2022 and 2023 before a rebound in 2024. Marketable debt securities exhibit a more volatile pattern, peaking in 2022 before declining significantly in the subsequent two years. This indicates a shift in short-term investment strategy or liquidity preferences.
- Receivables and Inventories
- Accounts and notes receivable increased markedly in 2022, nearly doubling from the previous year, before slightly decreasing but maintaining elevated levels through 2024. GM Financial receivables (net of allowance) consistently rose at a strong pace throughout the period, suggesting expansion in financing activities or credit sales. Inventory levels grew steadily from 2020 through 2023 with a slight reduction in 2024, reflecting possible changes in production, sales volume, or inventory management.
- Current and Non-current Assets
- Current assets demonstrate a pronounced upward trend, rising by over 34% from 2020 to 2024. This growth is primarily attributable to increasing receivables and inventory balances. Non-current assets also increased overall but at a slower rate, with total non-current assets peaking in 2023 and slightly declining in 2024. The rise in property, plant, and equipment was notable, suggesting ongoing investment in fixed assets and capacity expansion. Conversely, equipment on operating leases saw a steady decline until a minor recovery in 2024, potentially indicating portfolio adjustments or changes in leasing strategies.
- Intangible and Other Assets
- Goodwill and intangible assets decreased gradually year-over-year, which may reflect amortization or impairment impacts. Equity in net assets of nonconsolidated affiliates rose until 2023, then declined sharply in 2024, possibly due to divestitures or impairment losses. The category labeled other assets showed fluctuations without a clear directional trend, peaking in 2021 before decreasing and stabilizing towards 2024. Deferred income taxes fluctuated moderately but did not show a consistent upward or downward trajectory.
- Total Assets
- Total assets exhibited steady growth throughout the period, increasing by approximately 19% from 2020 to 2024. The continuous asset growth suggests overall expansion of the business's scale or accumulation of resources.
In summary, the data reflects a company with expanding receivables driven by its financial services operations, increasing investment in fixed assets, and stable liquidity positioning. The decline in marketable securities and operating lease equipment points to adjustments in asset composition, while decreases in intangible assets and equity in affiliates indicate some write-downs or portfolio changes. Overall asset growth aligns with the company's expanding operational footprint and financing activities.