Stock Analysis on Net

General Motors Co. (NYSE:GM)

$24.99

Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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.

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

US$ in millions

Microsoft Excel
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
Automotive
GM Financial
Short-term debt and current portion of long-term debt
Accrued liabilities
Current liabilities
Automotive
GM Financial
Long-term debt, excluding current portion
Postretirement benefits other than pensions
Pensions
Other liabilities
Non-current liabilities
Total liabilities
Noncontrolling interest, Cruise stock incentive awards
Common stock, $0.01 par value
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Stockholders’ equity
Noncontrolling interests
Total equity
Total liabilities and equity

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 balance sheet reflects a period of steady expansion in total liabilities and a volatile but generally positive trajectory in total equity. Total liabilities increased from 183,968 million USD in March 2021 to 216,280 million USD by March 2026, representing a significant growth in the company's overall obligations. This expansion is characterized by a consistent rise in both current and non-current liabilities, with a notable peak in total liabilities reaching 220,925 million USD in June 2025 before slightly moderating.

Current Liabilities and Short-Term Obligations
Current liabilities experienced a steady upward trend, rising from 76,323 million USD in March 2021 to 94,720 million USD in March 2026. A primary driver of this increase was the GM Financial segment, which grew from 59,773 million USD to 75,940 million USD over the same period. Short-term debt and the current portion of long-term debt remained relatively volatile but trended higher, moving from 35,068 million USD to 36,294 million USD, with peaks exceeding 39,000 million USD in late 2024.
Long-Term Debt and Non-Current Liabilities
Long-term debt, excluding the current portion, demonstrated a clear growth pattern, increasing from 76,179 million USD in March 2021 to a peak of 97,417 million USD in June 2025, before settling at 91,462 million USD in March 2026. Conversely, pension and postretirement benefit liabilities saw a substantial decline. Pension obligations dropped from 12,064 million USD in March 2021 to 4,712 million USD in March 2026, indicating a significant reduction in long-term defined benefit pressures.
Stockholders' Equity and Retained Earnings
Total equity grew from 54,443 million USD in March 2021 to a peak of 78,404 million USD in September 2023. However, a contraction occurred in late 2023 and late 2024, with total equity ending at 64,694 million USD in March 2026. This volatility is mirrored in retained earnings, which climbed from 34,988 million USD to a high of 62,050 million USD in September 2024, followed by a correction to 53,386 million USD by March 2026. Accumulated other comprehensive losses remained a persistent drag on equity, fluctuating between -7,778 million USD and -13,326 million USD.
Capital Structure and Solvent Trends
The total liabilities and equity figure expanded from 238,411 million USD in March 2021 to 280,974 million USD in March 2026. The growth in the balance sheet size was primarily financed through an increase in debt and a moderate increase in equity. While the company successfully reduced its legacy pension liabilities, the increasing reliance on long-term debt and the expanded obligations within the GM Financial arm have become the dominant features of the liability profile.