Stock Analysis on Net

General Motors Co. (NYSE:GM)

Income Statement

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

General Motors Co., consolidated income statement

US$ in millions

Microsoft Excel
12 months ended: Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Automotive net sales and revenue 157,658 143,975 113,590 108,673 122,697
Automotive and other cost of sales (141,330) (126,892) (100,544) (97,539) (110,651)
Automotive and other gross margin 16,328 17,083 13,046 11,134 12,046
GM Financial net sales and revenue 14,184 12,760 13,414 13,812 14,540
GM Financial interest, operating and other expenses (11,374) (8,862) (8,582) (11,274) (12,614)
Automotive and other selling, general and administrative expense (9,840) (10,666) (8,554) (7,038) (8,491)
Operating income 9,298 10,315 9,324 6,634 5,481
Automotive interest expense (911) (987) (950) (1,098) (782)
Non-service pension and OPEB income 184 1,512 1,909 1,095 797
Interest income 1,109 460 146 241 429
Licensing agreements income 172 238 195 211 165
Revaluation of investments (77) (236) 571 265 80
Other 148 (542) 220 73 (2)
Interest income and other non-operating income, net 1,536 1,432 3,041 1,885 1,469
Equity income 480 837 1,301 674 1,268
Income before income taxes 10,403 11,597 12,716 8,095 7,436
Income tax expense (563) (1,889) (2,771) (1,774) (769)
Net income 9,840 9,708 9,945 6,321 6,667
Net loss attributable to noncontrolling interests 287 226 74 106 65
Net income attributable to stockholders 10,127 9,934 10,019 6,427 6,732
Cumulative dividends on subsidiary preferred stock (105) (1,019) (182) (180) (151)
Net income attributable to common stockholders 10,022 8,915 9,837 6,247 6,581

Based on: 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), 10-K (reporting date: 2019-12-31).

Income statement item Description The company
Automotive net sales and revenue Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise. General Motors Co. automotive net sales and revenue increased from 2021 to 2022 and from 2022 to 2023.
Operating income The net result for the period of deducting operating expenses from operating revenues. General Motors Co. operating income increased from 2021 to 2022 but then decreased significantly from 2022 to 2023.
Income before income taxes Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. General Motors Co. income before income taxes decreased from 2021 to 2022 and from 2022 to 2023.
Net income attributable to stockholders The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. General Motors Co. net income attributable to stockholders decreased from 2021 to 2022 but then increased from 2022 to 2023 exceeding 2021 level.