Balance Sheet: Liabilities and Stockholders’ Equity

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.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

General Motors Co., consolidated balance sheet: liabilities and stockholders’ equity

US$ in millions

	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Accounts payable, principally trade	25,680)	28,114)	27,486)	20,391)	19,928)
Automotive	2,141)	428)	1,959)	463)	1,276)
GM Financial	37,291)	38,540)	36,819)	33,257)	35,637)
Short-term debt and current portion of long-term debt	39,432)	38,968)	38,778)	33,720)	36,913)
Dealer and customer allowances, claims and discounts	7,270)	6,065)	4,813)	3,211)	7,300)
Deferred revenue	3,371)	2,802)	2,489)	2,461)	3,132)
Product warranty and related liabilities	4,555)	3,285)	3,042)	3,769)	3,048)
Payrolls and employee benefits excluding postemployment benefits	3,221)	3,099)	3,298)	2,937)	1,864)
Other	12,736)	12,112)	11,267)	7,919)	7,725)
Accrued liabilities	31,153)	27,363)	24,909)	20,297)	23,069)
Current liabilities	96,265)	94,445)	91,173)	74,408)	79,910)
Automotive	13,327)	15,985)	15,885)	16,355)	16,193)
GM Financial	76,973)	66,788)	60,036)	59,304)	56,788)
Long-term debt, excluding current portion	90,300)	82,773)	75,921)	75,659)	72,981)
Postretirement benefits other than pensions	3,990)	4,345)	4,193)	5,743)	6,277)
Pensions	5,779)	6,680)	5,698)	8,008)	12,902)
Deferred revenue	5,940)	5,019)	3,552)	3,010)	2,715)
Product warranty and related liabilities	6,016)	6,011)	5,488)	6,005)	5,193)
Non-current operating lease liabilities	961)	907)	967)	1,012)	969)
Employee benefits excluding postemployment benefits	501)	518)	512)	622)	822)
Postemployment benefits including facility idling reserves	154)	151)	507)	775)	739)
Other	4,265)	3,908)	3,741)	3,661)	3,009)
Other liabilities	17,837)	16,514)	14,767)	15,085)	13,447)
Non-current liabilities	117,906)	110,312)	100,579)	104,495)	105,607)
Total liabilities	214,171)	204,757)	191,752)	178,903)	185,517)
Noncontrolling interest, Cruise stock incentive awards	—)	118)	358)	—)	—)
Common stock, $0.01 par value	10)	12)	14)	15)	14)
Additional paid-in capital	20,843)	19,130)	26,428)	27,061)	26,542)
Retained earnings	53,472)	55,391)	49,251)	41,937)	31,962)
Accumulated other comprehensive loss	(11,253)	(10,247)	(7,901)	(9,269)	(13,488)
Stockholders’ equity	63,072)	64,286)	67,792)	59,744)	45,030)
Noncontrolling interests	2,518)	3,903)	4,135)	6,071)	4,647)
Total equity	65,590)	68,189)	71,927)	65,815)	49,677)
Total liabilities and equity	279,761)	273,064)	264,037)	244,718)	235,194)

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 analysis of the financial data indicates several notable trends in liability and equity balances over the five-year span.

Current Liabilities: Current liabilities increased from $79,910 million in 2020 to $96,265 million in 2024, with fluctuations during the period. Key components such as accounts payable showed a rising trend from 2020 to 2023, peaking at $28,114 million before a slight decline to $25,680 million in 2024. Dealer and customer allowances experienced a significant initial drop in 2021, followed by steady growth reaching the highest level in 2024.; Short-term debt and current portion of long-term debt followed an upward trajectory, increasing from $36,913 million in 2020 to $39,432 million in 2024, indicating growing short-term financing obligations. Accrued liabilities rose markedly from $23,069 million in 2020 to $31,153 million by 2024, suggesting increasing operational accruals.
Non-Current Liabilities: Non-current liabilities exhibited a generally stable trend with minor fluctuations, ending higher at $117,906 million in 2024 compared to $105,607 million in 2020. Long-term debt excluding current portions showed steady growth, rising from $72,981 million in 2020 to $90,300 million in 2024, implying increased leverage or capital financing over time.; Product warranty and related liabilities fluctuated slightly over the years but trended upward in total, reflecting ongoing warranty obligations. Postretirement benefit liabilities decreased over the period, with pensions showing a downward trend from $12,902 million to $5,779 million, reflecting possible benefit payments or actuarial changes.
Total Liabilities: Total liabilities increased from approximately $185.5 billion in 2020 to $214.2 billion in 2024, illustrating a gradual buildup in overall obligations. The trend aligns with increases in both current and non-current liabilities, with a marked increase noted between 2022 and 2024.
Equity Components: Stockholders’ equity rose significantly from $45,030 million in 2020 to a peak of $67,792 million in 2022 before declining to $63,072 million in 2024. This indicates some volatility, potentially linked to retained earnings fluctuations and other comprehensive loss developments.; Retained earnings grew consistently from $31,962 million in 2020 to a high of $55,391 million in 2023 before a slight decrease to $53,472 million in 2024, reflecting generally positive profitability retained in the business. However, accumulated other comprehensive loss increased negatively from -$13,488 million in 2020 to -$11,253 million in 2024, indicating growing unrealized losses or other comprehensive items.; Additional paid-in capital declined notably from $26,542 million in 2020 to $19,130 million by 2023, with some recovery to $20,843 million in 2024, suggesting fluctuation in capital transactions outside of retained earnings.; Noncontrolling interests decreased progressively from $4,647 million in 2020 to $2,518 million in 2024, showing a reduction in minority shareholders' claims.
Total Equity and Overall Capital Structure: Total equity expanded from $49,677 million in 2020 to $71,927 million in 2022 before contracting to $65,590 million by 2024, mirroring the patterns noted within its components. Meanwhile, total liabilities and equity increased steadily from $235.2 billion to $279.8 billion over the five years, indicative of overall growth in company size and financial commitments.

In summary, the data depicts steady growth in liabilities with an emphasis on increasing debt levels, both current and long-term, and rising accrued and warranty-related obligations. Equity elements manifest fluctuations with strong retained earnings growth counterbalanced by increased comprehensive losses and reductions in additional paid-in capital and noncontrolling interests over the latter years. This suggests management's reliance on debt financing alongside retention of earnings to support growth, while also facing challenges affecting comprehensive income components.

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General Motors Co. (NYSE:GM)

Balance Sheet: Liabilities and Stockholders’ Equity