Document_and_Entity_Informatio
Document and Entity Information Document (USD $) | 12 Months Ended | ||
In Billions, except Share data, unless otherwise specified | Dec. 31, 2014 | Jan. 28, 2015 | Jun. 30, 2014 |
Document Entity Information [Abstract] | |||
Entity Registrant Name | GENERAL MOTORS COMPANY | ||
Entity Central Index Key | 1467858 | ||
Current Fiscal Year End Date | -19 | ||
Entity Filer Category | Large Accelerated Filer | ||
Document Type | 10-K | ||
Document Fiscal Year Focus | 2014 | ||
Document Fiscal Period Focus | FY | ||
Document Period End Date | 31-Dec-14 | ||
Amendment Flag | FALSE | ||
Entity Common Stock, Shares Outstanding | 1,610,365,961 | ||
Entity Well-known Seasoned Issuer | Yes | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Public Float | $58.20 |
Consolidated_Income_Statements
Consolidated Income Statements (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Net sales and revenue | |||
Automotive | $151,092 | $152,092 | $150,295 |
GM Financial | 4,837 | 3,335 | 1,961 |
Total | 155,929 | 155,427 | 152,256 |
Costs and expenses | |||
Automotive cost of sales | 138,082 | 134,925 | 140,236 |
GM Financial operating and other expenses | 4,039 | 2,448 | 1,207 |
Automotive selling, general and administrative expense | 12,158 | 12,382 | 14,031 |
Goodwill impairment charges | 120 | 541 | 27,145 |
Total costs and expenses | 154,399 | 150,296 | 182,619 |
Operating income (loss) | 1,530 | 5,131 | -30,363 |
Automotive interest expense | 1,829 | 1,049 | 772 |
Interest income and other non-operating income, net | 823 | 1,063 | 845 |
Gain (loss) on extinguishment of debt | 202 | -212 | -250 |
Equity income | 2,094 | 1,810 | 1,562 |
Income (loss) before income taxes | 4,246 | 7,458 | -28,695 |
Income tax expense (benefit) | 228 | 2,127 | -34,831 |
Net income | 4,018 | 5,331 | 6,136 |
Net (income) loss attributable to noncontrolling interests | -69 | 15 | 52 |
Net income attributable to stockholders | 3,949 | 5,346 | 6,188 |
Net income attributable to common stockholders | 2,804 | 3,770 | 4,859 |
Basic Earnings per Common Share | |||
Basic earnings per common share | $1.75 | $2.71 | $3.10 |
Weighted-average common shares outstanding | 1,605 | 1,393 | 1,566 |
Diluted Earnings per Common Share | |||
Diluted earnings per common share | $1.65 | $2.38 | $2.92 |
Weighted-average common shares outstanding | 1,687 | 1,676 | 1,675 |
Automotive [Member] | |||
Costs and expenses | |||
Goodwill impairment charges | 120 | 541 | |
Automotive interest expense | 403 | 334 | 489 |
Gain (loss) on extinguishment of debt | $202 | ($212) | ($250) |
Consolidated_Statements_of_Com
Consolidated Statements of Comprehensive Income (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Statement of Comprehensive Income [Abstract] | |||
Net income | $4,018 | $5,331 | $6,136 |
Other comprehensive income (loss), net of tax | |||
Foreign currency translation adjustments | -473 | -733 | -103 |
Cash flow hedging losses, net | 0 | 0 | -2 |
Unrealized gains (losses) on securities, net | -5 | -39 | 45 |
Defined benefit plans, net | -4,505 | 5,693 | -2,120 |
Other comprehensive income (loss), net of tax | -4,983 | 4,921 | -2,180 |
Comprehensive income (loss) | -965 | 10,252 | 3,956 |
Comprehensive (income) loss attributable to noncontrolling interests | -46 | 33 | 41 |
Comprehensive income (loss) attributable to stockholders | ($1,011) | $10,285 | $3,997 |
Consolidated_Balance_Sheets
Consolidated Balance Sheets (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
ASSETS | ||
Cash and cash equivalents | $18,954 | $20,021 |
Marketable securities | 9,222 | 8,972 |
Restricted cash and marketable securities | 1,338 | 1,247 |
Accounts and notes receivable, net | 9,078 | 8,535 |
Inventories | 13,642 | 14,039 |
Equipment on operating leases, net | 3,564 | 2,398 |
Deferred income taxes | 9,760 | 10,349 |
Other current assets | 1,584 | 1,662 |
Total current assets | 83,670 | 81,501 |
Restricted cash and marketable securities | 935 | 829 |
Equity in net assets of nonconsolidated affiliates | 8,350 | 8,094 |
Property, net | 27,743 | 25,867 |
Goodwill | 1,427 | 1,560 |
Intangible assets, net | 4,983 | 5,668 |
Deferred income taxes | 25,414 | 22,736 |
Other assets | 2,089 | 2,352 |
Total non-current assets | 94,007 | 84,843 |
Total Assets | 177,677 | 166,344 |
LIABILITIES AND EQUITY | ||
Accounts payable (principally trade) | 22,529 | 23,621 |
Accrued liabilities | 28,184 | 24,633 |
Total current liabilities | 65,701 | 62,412 |
Postretirement benefits other than pensions | 6,229 | 5,897 |
Pensions | 23,788 | 19,483 |
Other liabilities | 14,082 | 13,353 |
Total non-current liabilities | 75,952 | 60,758 |
Total Liabilities | 141,653 | 123,170 |
Commitments and contingencies | ||
Common stock, $0.01 par value | 16 | 15 |
Additional paid-in capital | 28,937 | 28,780 |
Retained earnings | 14,577 | 13,816 |
Accumulated other comprehensive loss | -8,073 | -3,113 |
Total stockholders' equity | 35,457 | 42,607 |
Noncontrolling interests | 567 | 567 |
Total Equity | 36,024 | 43,174 |
Total Liabilities and Equity | 177,677 | 166,344 |
Series A Preferred Stock [Member] | ||
LIABILITIES AND EQUITY | ||
Series A preferred stock, $0.01 par value | 0 | 3,109 |
Total Equity | 0 | 3,109 |
Automotive [Member] | ||
ASSETS | ||
Goodwill | 0 | 138 |
LIABILITIES AND EQUITY | ||
Short-term debt and current portion of long-term debt | 500 | 564 |
Long-term debt | 8,910 | 6,573 |
GM Financial [Member] | ||
ASSETS | ||
GM Financial receivables, net, current | 16,528 | 14,278 |
GM Financial receivables, net, noncurrent | 16,006 | 14,354 |
Goodwill | 1,427 | 1,422 |
GM Financial equipment on operating leases, net | 7,060 | 3,383 |
LIABILITIES AND EQUITY | ||
Short-term debt and current portion of long-term debt | 14,488 | 13,594 |
Long-term debt | $22,943 | $15,452 |
Consolidated_Balance_Sheets_Pa
Consolidated Balance Sheets Parenthetical (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, except Per Share data, unless otherwise specified | ||
Common Stock, Par Value | $0.01 | $0.01 |
Automotive [Member] | ||
Allowance for accounts and notes receivable | $340 | $344 |
GM Financial [Member] | ||
Finance receivables at VIEs - current | 16,528 | 14,278 |
Finance receivables at VIEs - noncurrent | 16,006 | 14,354 |
Operating lease assets at VIEs | 7,060 | 3,383 |
Consolidated VIE [Member] | GM Financial [Member] | ||
Finance receivables at VIEs - current | 11,134 | 10,001 |
Finance receivables at VIEs - noncurrent | 11,583 | 11,216 |
Operating lease assets at VIEs | 4,595 | 1,803 |
Debt at VIEs | 22,794 | 19,448 |
Consolidated VIE [Member] | Short-term Debt [Member] | GM Financial [Member] | ||
Debt at VIEs | 10,502 | 10,088 |
Consolidated VIE [Member] | Long-term Debt [Member] | GM Financial [Member] | ||
Debt at VIEs | $12,292 | $9,330 |
Series A Preferred Stock [Member] | ||
Preferred Stock, Par Value | $0.01 | $0.01 |
Consolidated_Statements_Of_Cas
Consolidated Statements Of Cash Flows (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Cash flows from operating activities | |||
Net income | $4,018 | $5,331 | $6,136 |
Depreciation, amortization and impairment charges | 7,238 | 8,041 | 38,762 |
Foreign currency remeasurement and transaction losses | 437 | 350 | 117 |
Amortization of discount and issuance costs on debt issues | 181 | 114 | 188 |
Undistributed earnings of nonconsolidated affiliates and gains on investments | -301 | -92 | -179 |
Pension contributions and OPEB payments | -1,315 | -1,458 | -3,759 |
Pension and OPEB expense, net | 439 | 638 | 3,232 |
(Gains) losses on extinguishment of debt | -202 | 212 | 250 |
Provision (benefit) for deferred taxes | -574 | 1,561 | -35,561 |
Change in other operating assets and liabilities | 244 | -1,326 | 630 |
Other operating activities | -107 | -741 | 789 |
Net cash provided by operating activities | 10,058 | 12,630 | 10,605 |
Cash flows from investing activities | |||
Expenditures for property | -7,091 | -7,565 | -8,068 |
Available-for-sale marketable securities, acquisitions | -7,636 | -6,754 | -4,650 |
Trading marketable securities, acquisitions | -1,518 | -3,214 | -6,234 |
Available-for-sale marketable securities, liquidations | 6,874 | 3,566 | 10,519 |
Trading marketable securities, liquidations | 1,881 | 6,538 | 7,267 |
Acquisition of companies, net of cash acquired | -53 | -2,623 | -44 |
Proceeds from sale of business units/investments, net of cash disposed | 0 | 896 | 18 |
Increase in restricted cash and marketable securities | -839 | -984 | -661 |
Decrease in restricted cash and marketable securities | 515 | 1,107 | 1,526 |
Purchase of finance receivables | -14,744 | -10,838 | -6,122 |
Principal collections and recoveries on finance receivables | 10,860 | 7,555 | 4,007 |
Purchases of leased vehicles, net | -4,776 | -2,254 | -1,050 |
Proceeds from termination of leased vehicles | 533 | 217 | 59 |
Other investing activities | 296 | -9 | -72 |
Net cash used in investing activities | -15,698 | -14,362 | -3,505 |
Cash flows from financing activities | |||
Net increase (decrease) in short-term debt | 391 | 156 | -247 |
Proceeds from issuance of debt (original maturities greater than three months) | 31,373 | 28,041 | 9,036 |
Payments on debt (original maturities greater than three months) | -19,524 | -20,191 | -7,377 |
Payments to purchase stock | -3,277 | -2,438 | -5,098 |
Dividends paid (including charge related to redemption and purchase of Series A preferred stock) | -3,165 | -1,687 | -939 |
Other financing activities | -123 | -150 | -116 |
Net cash provided by (used in) financing activities | 5,675 | 3,731 | -4,741 |
Effect of exchange rate changes on cash and cash equivalents | -1,102 | -400 | -8 |
Net increase (decrease) in cash and cash equivalents | -1,067 | 1,599 | 2,351 |
Cash and cash equivalents at beginning of period | 20,021 | 18,422 | 16,071 |
Cash and cash equivalents at end of period | 18,954 | 20,021 | 18,422 |
Investing Cash Flows | |||
Non-cash property additions | 3,313 | 3,224 | 3,879 |
Financing Cash Flows | |||
Mandatory conversion of Series B Preferred Stock into common stock | 1 | ||
Series B Preferred Stock [Member] | |||
Financing Cash Flows | |||
Mandatory conversion of Series B Preferred Stock into common stock | $4,854 |
Consolidated_Statements_Of_Equ
Consolidated Statements Of Equity (USD $) | Total | Series A Preferred Stock [Member] | Series B Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Noncontrolling Interests [Member] |
In Millions | ||||||||
Balance at Dec. 31, 2011 | $38,991 | $5,536 | $4,855 | $16 | $26,391 | $7,183 | ($5,861) | $871 |
Net income | 6,136 | 6,188 | -52 | |||||
Other comprehensive income (loss) | -2,180 | -2,191 | 11 | |||||
Purchase and retirement of common stock | -5,109 | -2 | -2,652 | -2,455 | ||||
Exercise of common stock warrants | 5 | 5 | ||||||
Stock based compensation | 89 | 89 | ||||||
Conversion of Series B Preferred Stock into common stock | 1 | 1 | ||||||
Cash dividends on Series A Preferred Stock and cumulative dividends on Series B Preferred Stock | -859 | -859 | ||||||
Dividends declared or paid to noncontrolling interest | -80 | -80 | ||||||
Other | 6 | 6 | ||||||
Balance at Dec. 31, 2012 | 37,000 | 14 | 23,834 | 10,057 | -8,052 | 756 | ||
Balance at Nov. 30, 2012 | ||||||||
Purchase and retirement of common stock | -5,100 | |||||||
Balance at Dec. 31, 2012 | 37,000 | 5,536 | 4,855 | 14 | 23,834 | 10,057 | -8,052 | 756 |
Net income | 5,331 | 5,346 | -15 | |||||
Other comprehensive income (loss) | 4,921 | 4,939 | -18 | |||||
Purchase/Redemption and cancellation of Series A Preferred Stock | -2,427 | -2,427 | ||||||
Exercise of common stock warrants | 3 | 3 | ||||||
Stock based compensation | 75 | 75 | ||||||
Conversion of Series B Preferred Stock into common stock | 4,854 | 1 | 4,854 | |||||
Mandatory conversion of Series B Preferred Stock into common stock | 0 | -4,855 | ||||||
Cash dividends paid on Series A Preferred Stock and charge related to purchase/redemption of Series A Preferred Stock and dividends on Series B Preferred Stock | -1,587 | -1,587 | ||||||
Dividends declared or paid to noncontrolling interest | -82 | -82 | ||||||
Other | -60 | 14 | -74 | |||||
Balance at Dec. 31, 2013 | 43,174 | 3,109 | 0 | 15 | 28,780 | 13,816 | -3,113 | 567 |
Net income | 4,018 | 3,949 | 69 | |||||
Other comprehensive income (loss) | -4,983 | -4,960 | -23 | |||||
Purchase/Redemption and cancellation of Series A Preferred Stock | -3,109 | -3,109 | ||||||
Purchase of common stock | -168 | -85 | -83 | |||||
Exercise of common stock warrants | 39 | 1 | 38 | |||||
Stock based compensation | 189 | 206 | -17 | |||||
Cash dividends paid on Series A Preferred Stock and charge related to purchase/redemption of Series A Preferred Stock and dividends on Series B Preferred Stock | -1,160 | -1,160 | ||||||
Cash dividends paid on common stock | -1,928 | -1,928 | ||||||
Dividends declared or paid to noncontrolling interest | -73 | -73 | ||||||
Other | 25 | -2 | 27 | |||||
Balance at Dec. 31, 2014 | $36,024 | $0 | $16 | $28,937 | $14,577 | ($8,073) | $567 |
Nature_Of_Operations_and_Basis
Nature Of Operations and Basis of Presentation | 12 Months Ended |
Dec. 31, 2014 | |
Nature of Operations and Basis of Presentation [Abstract] | |
Nature of Operations and Basis of Presentation [Text Block] | Nature of Operations and Basis of Presentation |
General Motors Company was incorporated as a Delaware corporation in 2009. We design, build and sell cars, trucks and automobile parts worldwide. We also provide automotive financing services through GM Financial. We analyze the results of our business through the following segments: GMNA, GME, GMIO, GMSA and GM Financial. Nonsegment operations are classified as Corporate. Corporate includes certain centrally recorded income and costs, such as interest, income taxes and corporate expenditures and certain nonsegment specific revenues and expenses. | |
As discussed in Note 13 we announced recalls of approximately 42 million vehicles and recorded charges of approximately $2.9 billion in Automotive cost of sales relating to recall campaigns and courtesy transportation in the year ended December 31, 2014 and as discussed in Note 17 we announced the creation of a compensation program related to faulty ignition switches on certain vehicles and recorded a charge of $400 million in the three months ended June 30, 2014. | |
Principles of Consolidation | |
The consolidated financial statements are prepared in conformity with U.S. GAAP. All intercompany balances and transactions have been eliminated in consolidation. Certain prior year amounts were reclassified to conform to our current year presentation. In the three months ended March 31, 2014 we changed our managerial and financial reporting structure to reclassify the results of our Russian subsidiaries previously reported in our GMIO segment to our GME segment. We have retrospectively revised the segment presentation for all periods presented. Refer to Note 25 for additional information on our segment reporting. | |
We consolidate entities that we control due to ownership of a majority voting interest and we consolidate variable interest entities (VIEs) when we have variable interests and are the primary beneficiary. We continually evaluate our involvement with VIEs to determine when these criteria are met. Our share of earnings or losses of nonconsolidated affiliates is included in our consolidated operating results using the equity method of accounting when we are able to exercise significant influence over the operating and financial decisions of the affiliate. We use the cost method of accounting if we are not able to exercise significant influence over the operating and financial decisions of the affiliate. | |
Use of Estimates in the Preparation of the Financial Statements | |
Accounting estimates are an integral part of the consolidated financial statements. These estimates require the use of judgments and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses in the periods presented. We believe that the accounting estimates employed are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates actual results could differ from the original estimates, requiring adjustments to these balances in future periods. | |
Change in Accounting Estimate | |
We historically accrued estimated costs related to recall campaigns in GMNA when they are probable and reasonably estimable, which typically occurs once it is determined a specific recall campaign is needed and announced. During the three months ended June 30, 2014, following the significant increase in the number of vehicles subject to recall in GMNA, the results of our ongoing comprehensive safety review, additional engineering analysis, the creation of a new Global Product Integrity organization, the appointment of a new Global Vice President of Vehicle Safety responsible for the safety development of our vehicle systems and our overall commitment to customer satisfaction, we accumulated sufficient historical data in GMNA to support the use of an actuarial-based estimation technique for recall campaigns. As such we now accrue at the time of vehicle sale in GMNA the costs for recall campaigns. Based on expanded historical data, we recorded a catch-up adjustment of $874 million in Automotive cost of sales in the three months ended June 30, 2014 to adjust the estimate for recall costs for previously sold vehicles. In other geographical regions the historical claims data did not support the application of an actuarial-based model; therefore, recall campaigns are accrued when probable and reasonably estimable, which typically occurs once it is determined a specific recall campaign is needed and announced. | |
GM Financial | |
The amounts presented for GM Financial have been adjusted to include the effect of our tax attributes on GM Financial's deferred tax positions and provision for income taxes since the date of acquisition, which are not applicable to GM Financial on a stand-alone basis, and to eliminate the effect of transactions between GM Financial and the other members of the consolidated group. Accordingly, the amounts presented will differ from those presented by GM Financial on a stand-alone basis. |
Significant_Accounting_Policie
Significant Accounting Policies | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Accounting Policies [Abstract] | ||||||||||||
Significant Accounting Policies [Text Block] | Significant Accounting Policies | |||||||||||
The accounting policies which follow are utilized by our automotive and automotive financing operations, unless otherwise indicated. | ||||||||||||
Revenue Recognition | ||||||||||||
Automotive | ||||||||||||
Automotive net sales and revenue are primarily composed of revenue generated from the sale of vehicles. Vehicle sales are recorded when title and all risks and rewards of ownership have passed to our customers. For the majority of our automotive sales this occurs when a vehicle is released to the carrier responsible for transporting to a dealer and when collectability is reasonably assured. Vehicle sales are recorded when the vehicle is delivered to the dealer in most remaining cases. Provisions for recurring or announced dealer and customer sales and leasing incentives, consisting of allowances and rebates, are recorded as reductions to Automotive net sales and revenue at the time of vehicle sales. All other incentives, allowances and rebates related to vehicles previously sold are recorded as reductions to Automotive net sales and revenue when announced. | ||||||||||||
Vehicle sales to daily rental car companies with guaranteed repurchase obligations are accounted for as operating leases. Estimated lease revenue is recorded ratably over the estimated term of the lease based on the difference between net sales proceeds and the guaranteed repurchase amount. The difference between the cost of the vehicle and estimated residual value is depreciated on a straight-line basis over the estimated term of the lease. | ||||||||||||
Automotive Financing - GM Financial | ||||||||||||
Finance charge income earned on receivables is recognized using the effective interest method for consumer financing receivables and accrual method for commercial financing receivables. Fees and commissions (including incentive payments) received and direct costs of originating loans are deferred and amortized over the term of the related finance receivables using the effective interest method and are removed from the consolidated balance sheets when the related finance receivables are sold, charged off or paid in full. Accrual of finance charge income on consumer finance receivables is generally suspended on accounts that are more than 60 days delinquent, accounts in bankruptcy and accounts in repossession. Payments received on nonaccrual loans are first applied to any fees due, then to any interest due and then any remaining amounts are recorded to principal. Interest accrual generally resumes once an account has received payments bringing the delinquency to less than 60 days past due. Accrual of finance charge income on commercial finance receivables is generally suspended on accounts that are more than 90 days delinquent, upon receipt of a bankruptcy notice from a borrower, or where reasonable doubt about the full collectability of contractually agreed upon principal and interest exist. Payments received on nonaccrual loans are first applied to principal. Interest accrual resumes once an account has received payments bringing the account fully current and collection of contractual principal and interest is reasonably assured (including amounts previously charged-off) or, for troubled debt restructurings (TDRs), when repayment is reasonably assured based on the modified terms of the loan. | ||||||||||||
Income from operating lease assets, which includes lease origination fees, net of lease origination costs and incentives, is recorded as operating lease revenue on a straight-line basis over the term of the lease agreement. | ||||||||||||
Advertising and Promotion Expenditures | ||||||||||||
Advertising and promotion expenditures, which are expensed as incurred in Automotive selling, general and administrative expense, were $5.2 billion, $5.5 billion and $5.4 billion in the years ended December 31, 2014, 2013 and 2012. | ||||||||||||
Research and Development Expenditures | ||||||||||||
Research and development expenditures, which are expensed as incurred in Automotive cost of sales, were $7.4 billion, $7.2 billion and $7.4 billion in the years ended December, 31 2014, 2013 and 2012. | ||||||||||||
Cash Equivalents | ||||||||||||
Cash equivalents are defined as short-term, highly-liquid investments with original maturities of 90 days or less. | ||||||||||||
Allowance for Doubtful Accounts | ||||||||||||
We record an allowance for doubtful accounts based on our best estimate of recoverability of receivables. Charges related to the allowance for doubtful accounts are recorded in Automotive selling, general and administrative expense. The following table summarizes activity in our allowance for doubtful accounts and notes receivable related to our automotive operations (dollars in millions): | ||||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Balance at beginning of period | $ | 344 | $ | 311 | $ | 331 | ||||||
Amounts charged (credited) to costs and expenses | 50 | 61 | (10 | ) | ||||||||
Deductions | (8 | ) | (24 | ) | (46 | ) | ||||||
Effect of foreign currency and other | (46 | ) | (4 | ) | 36 | |||||||
Balance at end of period | $ | 340 | $ | 344 | $ | 311 | ||||||
Fair Value Measurements | ||||||||||||
A three-level valuation hierarchy, based upon observable and unobservable inputs, is used for fair value measurements. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions based on the best evidence available. These two types of inputs create the following fair value hierarchy: | ||||||||||||
• | Level 1 - Quoted prices for identical instruments in active markets; | |||||||||||
• | Level 2 - Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations whose significant inputs are observable; and | |||||||||||
• | Level 3 - Instruments whose significant inputs are unobservable. | |||||||||||
Financial instruments are transferred in and/or out of Level 1, 2 or 3 at the beginning of the accounting period in which there is a change in the valuation inputs. | ||||||||||||
Marketable Securities | ||||||||||||
We classify marketable securities as available-for-sale or trading. Various factors, including turnover of holdings and investment guidelines, are considered in determining the classification of securities. Available-for-sale securities are recorded at fair value with unrealized gains and losses recorded net of related income taxes in Accumulated other comprehensive loss until realized. Trading securities are recorded at fair value with changes in fair value recorded in Interest income and other non-operating income, net. We determine realized gains and losses for all securities using the specific identification method. | ||||||||||||
We measure the fair value of our marketable securities using a market approach where identical or comparable prices are available and an income approach in other cases. If quoted market prices are not available, fair values of securities are determined using prices from a pricing service, pricing models, quoted prices of securities with similar characteristics or discounted cash flow models. These prices represent non-binding quotes. Our pricing service utilizes industry-standard pricing models that consider various inputs. We conduct an annual review of our pricing service. Based on our review we believe the prices received from our pricing service are a reliable representation of exit prices. | ||||||||||||
An evaluation is made quarterly to determine if unrealized losses related to non-trading investments in securities are other-than-temporary. Factors considered in determining whether a loss on a marketable security is other-than-temporary include: (1) the length of time and extent to which the fair value has been below cost; (2) the financial condition and near-term prospects of the issuer; and (3) the intent to sell or likelihood to be forced to sell the security before any anticipated recovery. | ||||||||||||
Finance Receivables | ||||||||||||
As the result of our October 2010 acquisition of GM Financial and GM Financial's acquisition of the Ally Financial international operations, finance receivables are reported in two portfolios: pre-acquisition and post-acquisition portfolios. The pre-acquisition finance receivables portfolio consists of finance receivables that were considered to have had deterioration in credit quality at the time they were acquired with the acquisitions of GM Financial or the Ally Financial international operations. The pre-acquisition portfolio will decrease over time with the amortization of the acquired receivables. The post-acquisition finance receivables portfolio consists of finance receivables that were considered to have had no deterioration in credit quality at the time they were acquired with the acquisition of the Ally Financial international operations and finance receivables originated since the acquisitions of GM Financial and the Ally Financial international operations. The post-acquisition portfolio is expected to grow over time as GM Financial originates new receivables. | ||||||||||||
Pre-Acquisition Consumer Finance Receivables | ||||||||||||
At the time of acquisitions the receivables were recorded at fair value. The pre-acquisition finance receivables were acquired at a discount, which contains two components: a non-accretable difference and an accretable yield. The accretable yield is recorded as finance charge income over the life of the acquired receivables. | ||||||||||||
Any deterioration in the performance of the pre-acquisition finance receivables from their expected performance will result in an incremental provision for loan losses. Improvements in the performance of the pre-acquisition finance receivables will result first in the reversal of any incremental related allowance for loan losses and then in a transfer of the excess from the non-accretable difference to accretable yield, which will be recorded as finance charge income over the remaining life of the receivables. | ||||||||||||
Post-Acquisition Consumer Finance Receivables and Allowance for Loan Losses | ||||||||||||
Post-acquisition finance receivables originated since the acquisitions of GM Financial and the Ally Financial international operations are carried at amortized cost, net of allowance for loan losses. | ||||||||||||
The component of the allowance for consumer finance receivables that is collectively evaluated for impairment is based on a statistical calculation supplemented by management judgment. GM Financial uses a combination of forecasting models to determine the allowance for loan losses. Factors that are considered when estimating the allowance include loss confirmation period, historical delinquency migration to loss, probability of default and loss given default. The loss confirmation period is a key assumption within the models, which represents the average amount of time from when a loss event first occurs to when the receivable is charged-off. | ||||||||||||
Consumer finance receivables that become classified as TDRs are separately assessed for impairment. A specific allowance is estimated based on the present value of the expected future cash flows of the receivable discounted at the loan's original effective interest rate. | ||||||||||||
Consumer finance receivables are generally charged off in the month in which the account becomes 120 days contractually delinquent if we have not yet recorded a repossession charge-off. A charge-off generally represents the difference between the estimated net sales proceeds and the amount of the contract, including accrued interest. | ||||||||||||
The finance receivables acquired with the Ally Financial international operations that were considered to have no deterioration in credit quality at the time of acquisition were recorded at fair value. The purchase discount will accrete to income over the life of the receivables, based on contractual cash flows, using the effective interest method. Provisions for loan losses are charged to operations in amounts equal to net credit losses for the period. Any subsequent deterioration in the performance of the acquired receivables will result in an incremental provision for loan losses. | ||||||||||||
Inventory | ||||||||||||
Inventories are stated at the lower of cost or market. Market, which represents selling price less cost to sell, considers general market and economic conditions, periodic reviews of current profitability of vehicles, product warranty costs and the effect of current and expected incentive offers at the balance sheet date. Market for off-lease and other vehicles is current auction sales proceeds less disposal and warranty costs. Productive material, work in process, supplies and service parts are reviewed to determine if inventory quantities are in excess of forecasted usage or if they have become obsolete. | ||||||||||||
Equipment on Operating Leases, net | ||||||||||||
Equipment on operating leases, net is reported at cost, less accumulated depreciation and impairment, net of origination fees or costs and lease incentives. Estimated income from operating lease assets, which includes lease origination fees, net of lease origination costs, is recorded as operating lease revenue on a straight-line basis over the term of the lease agreement. Leased vehicles are depreciated on a straight-line basis to an estimated residual value over the term of the lease agreements. | ||||||||||||
We have significant investments in vehicles in operating lease portfolios, which are composed of vehicle leases to retail customers with lease terms of up to 60 months and vehicles leased to rental car companies with lease terms that average eight months or less. We are exposed to changes in the residual values of those assets. For impairment purposes the residual values represent estimates of the values of the vehicles leased at the end of the lease contracts and are determined based on forecasted auction proceeds when there is a reliable basis to make such a determination. Realization of the residual values is dependent on the future ability to market the vehicles under the prevailing market conditions. The adequacy of the estimate of the residual value is evaluated over the life of the lease and adjustments may be made to the extent the expected value of the vehicle at lease termination changes. Adjustments may be in the form of revisions to the depreciation rate or recognition of an impairment charge. Impairment is determined to exist if the expected future cash flows, which include estimated residual values, are lower than the carrying amount of the vehicles leased. If the carrying amount is considered impaired an impairment charge is recorded for the amount by which the carrying amount exceeds the fair value. Fair value is determined primarily using the anticipated cash flows, including estimated residual values. | ||||||||||||
In our automotive operations when a leased vehicle is returned the asset is reclassified from Equipment on operating leases, net to Inventories at the lower of cost or estimated selling price, less cost to sell. Upon disposition proceeds are recorded in Automotive net sales and revenue and costs are recorded in Automotive cost of sales. In our automotive finance operations when a leased vehicle is returned or repossessed the asset is recorded in Other assets at the lower of cost or estimated selling price, less costs to sell. Upon disposition a gain or loss is recorded for any difference between the net book value of the leased asset and the proceeds from the disposition of the asset. | ||||||||||||
Depreciation expense and impairment charges related to Equipment on operating leases, net are recorded in Automotive cost of sales or GM Financial operating and other expenses. | ||||||||||||
Valuation of Cost and Equity Method Investments | ||||||||||||
When events and circumstances warrant, investments accounted for under the cost or equity method of accounting are evaluated for impairment. An impairment charge is recorded whenever a decline in value of an investment below its carrying amount is determined to be other-than-temporary. Impairment charges related to equity method investments are recorded in Equity income. Impairment charges related to cost method investments are recorded in Interest income and other non-operating income, net. | ||||||||||||
Property, net | ||||||||||||
Property, plant and equipment, including internal use software, is recorded at cost. Major improvements that extend the useful life or add functionality of property are capitalized. The gross amount of assets under capital leases is included in property, plant and equipment. Expenditures for repairs and maintenance are charged to expense as incurred. We depreciate all depreciable property using the straight-line method. Leasehold improvements are amortized over the period of lease or the life of the asset, whichever is shorter. The amortization of the assets under capital leases is included in depreciation expense. Upon retirement or disposition of property, plant and equipment, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recorded in earnings. Impairment charges related to property are recorded in Automotive cost of sales, Automotive selling, general and administrative expense or GM Financial operating and other expenses. | ||||||||||||
Special Tools | ||||||||||||
Special tools represent product-specific powertrain and non-powertrain related tools, dies, molds and other items used in the vehicle manufacturing process. Expenditures for special tools are recorded at cost and are capitalized. We amortize all non-powertrain special tools over their estimated useful lives using an accelerated amortization method. We amortize powertrain special tools over their estimated useful lives using the straight-line method. Impairment charges related to special tools are recorded in Automotive cost of sales. | ||||||||||||
Goodwill | ||||||||||||
Goodwill arises from the application of fresh-start reporting and acquisitions accounted for as business combinations. Goodwill is tested for impairment for all reporting units on an annual basis as of October 1, or more frequently if events occur or circumstances change that would warrant such a review. Our reporting units are GMNA and GME and various reporting units within the GMIO, GMSA and GM Financial segments. When performing our goodwill impairment testing, the fair values of our reporting units are determined based on valuation techniques using the best available information, primarily discounted cash flow projections. We make significant assumptions and estimates, which utilize Level 3 measures, about the extent and timing of future cash flows, growth rates, market share and discount rates that represent unobservable inputs into our valuation methodologies. Our fair value estimates for annual and event-driven impairment tests assume the achievement of the future financial results contemplated in our forecasted cash flows and there can be no assurance that we will realize that value. The valuation methodologies utilized to perform our goodwill impairment testing were consistent with those used in our application of fresh-start reporting on July 10, 2009 and in any subsequent annual or event-driven goodwill impairment tests and utilized Level 3 measures. Because the fair value of goodwill can be measured only as a residual amount and cannot be determined directly we calculate the implied goodwill for those reporting units failing Step 1 in the same manner that goodwill is recognized in a business combination pursuant to Accounting Standards Codification (ASC) 805. | ||||||||||||
Intangible Assets, net | ||||||||||||
Intangible assets, excluding goodwill, primarily include brand names, technology and intellectual property, customer relationships and dealer networks. Intangible assets are amortized on a straight-line or an accelerated method of amortization over their estimated useful lives. An accelerated amortization method reflecting the pattern in which the asset will be consumed is utilized if that pattern can be reliably determined. We consider the period of expected cash flows and underlying data used to measure the fair value of the intangible assets when selecting a useful life. Impairment charges related to intangible assets are recorded in Automotive selling, general and administrative expense or Automotive cost of sales. Amortization of developed technology and intellectual property is recorded in Automotive cost of sales. Amortization of brand names, customer relationships and our dealer networks is recorded in Automotive selling, general and administrative expense or GM Financial operating and other expenses. | ||||||||||||
Valuation of Long-Lived Assets | ||||||||||||
The carrying amount of long-lived assets and finite-lived intangible assets to be held and used in the business are evaluated for impairment when events and circumstances warrant. If the carrying amount of a long-lived asset group is considered impaired, a loss is recorded based on the amount by which the carrying amount exceeds fair value. Product-specific long-lived asset groups are tested for impairment at the platform or vehicle line level and consider their geographical location. Non-product specific long-lived assets are tested for impairment on a reporting unit basis in GMNA and GME and tested at or within our various reporting units within our GMIO, GMSA and GM Financial segments. Fair value is determined using either the market or sales comparison approach, cost approach or anticipated cash flows discounted at a rate commensurate with the risk involved. Long-lived assets to be disposed of other than by sale are considered held for use until disposition. Product-specific assets may become impaired as a result of declines in profitability due to changes in volume, pricing or costs. | ||||||||||||
Pension and OPEB Plans | ||||||||||||
Attribution, Methods and Assumptions | ||||||||||||
The cost of benefits provided by defined benefit pension plans is recorded in the period employees provide service. The cost of pension plan amendments that provide for benefits already earned by plan participants is amortized over the expected period of benefit which may be: (1) the duration of the applicable collective bargaining agreement specific to the plan; (2) expected future working lifetime; or (3) the life expectancy of the plan participants. | ||||||||||||
The cost of medical, dental, legal service and life insurance benefits provided through postretirement benefit plans is recorded in the period employees provide service. The cost of postretirement plan amendments that provide for benefits already earned by plan participants is amortized over the expected period of benefit which may be: (1) the average period to full eligibility; (2) the average life expectancy of the plan participants; or (3) the period to the plan's termination date for a plan which provides legal services. | ||||||||||||
An expected return on plan asset methodology is utilized to calculate future pension expense for certain significant funded benefit plans. A market-related value of plan assets methodology is also utilized that averages gains and losses on the plan assets over a period of years to determine future pension expense. The methodology recognizes 60% of the difference between the fair value of assets and the expected calculated value in the first year and 10% of that difference over each of the next four years. | ||||||||||||
The discount rate assumption is established for each of the retirement-related benefit plans at their respective measurement dates. In the U.S. we use a cash flow matching approach that uses projected cash flows matched to spot rates along a high quality corporate yield curve to determine the present value of cash flows to calculate a single equivalent discount rate. | ||||||||||||
The benefit obligation for pension plans in Canada, the United Kingdom and Germany represents 92% of the non-U.S. pension benefit obligation at December 31, 2014. The discount rates for plans in Canada, the United Kingdom and Germany are determined using a cash flow matching approach similar to the U.S. approach. | ||||||||||||
Plan Asset Valuation | ||||||||||||
Due to the lack of timely available market information for certain investments in the asset classes described below as well as the inherent uncertainty of valuation, reported fair values may differ from fair values that would have been used had timely available market information been available. | ||||||||||||
Cash Equivalents and Other Short-Term Investments | ||||||||||||
Money market funds and other similar short-term investment funds are valued using the net asset value per share (NAV). Prices for short-term debt securities are received from independent pricing services or from dealers who make markets in such securities. Independent pricing services utilize matrix pricing which considers readily available inputs such as the yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices. Money market mutual funds which provide investors with the ability to redeem their interests on a daily basis and for which NAVs are publicly available are classified in Level 1. Other cash equivalents and short-term investments are classified in Level 2. | ||||||||||||
Common and Preferred Stock | ||||||||||||
Common and preferred stock for which market prices are readily available at the measurement date are valued at the last reported sale price or official closing price on the primary market or exchange on which they are actively traded and are classified in Level 1. Such equity securities for which the market is not considered to be active are valued via the use of observable inputs, which may include, among others, the use of adjusted market prices last available, bids or last available sales prices and/or other observable inputs and are classified in Level 2. Common and preferred stock classified in Level 3 are those privately issued securities or other issues that are valued via the use of valuation models using significant unobservable inputs that generally consider among others, aged (stale) pricing, earnings multiples, discounted cash flows and/or other qualitative and quantitative factors. | ||||||||||||
Fixed Income Securities | ||||||||||||
Fixed income securities are valued based on quotations received from independent pricing services or from dealers who make markets in such securities. Debt securities which are priced via the use of pricing services that utilize matrix pricing which considers readily observable inputs such as the yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices, are classified in Level 2. Fixed income securities within this category that are typically priced by dealers and pricing services via the use of proprietary pricing models which incorporate significant unobservable inputs are classified in Level 3. These inputs primarily consist of yield and credit spread assumptions, discount rates, prepayment curves, default assumptions and recovery rates. | ||||||||||||
Investment Funds, Private Equity and Debt Investments and Real Estate Investments | ||||||||||||
Investments in exchange traded funds, real estate investment trusts and mutual funds, for which market quotations are generally readily available, are valued at the last reported sale price, official closing price or publicly available NAV (or its equivalent) on the primary market or exchange on which they are traded and are classified in Level 1. Investments in private investment funds (including hedge funds, private equity funds and real estate funds) are generally valued based on their respective NAV (or its equivalent), as a practical expedient to estimate fair value due to the absence of readily available market prices. Investments in private investment funds, which may be fully redeemed at NAV in the near-term are generally classified in Level 2. Investments in funds, which may not be fully redeemed at NAV in the near-term, are generally classified in Level 3. | ||||||||||||
Direct investments in private equity, private debt and real estate securities are generally valued in good faith via the use of the market approach (earnings multiples from comparable companies) or the income approach (discounted cash flow techniques), and consider inputs such as revenue growth and gross margin assumptions, discount rates, discounts for lack of liquidity, market capitalization rates and the selection of comparable companies. As these valuations incorporate significant unobservable inputs they are classified in Level 3. | ||||||||||||
Fair value estimates for private investment funds, private equity, private debt and real estate investments are provided by the respective investment sponsors or investment advisers and are subsequently reviewed and approved by management. In the event management concludes a reported NAV or fair value estimate (collectively, external valuation) does not reflect fair value or is not determined as of the financial reporting measurement date, we will consider whether and when deemed necessary to make an adjustment at the balance sheet date. In determining whether an adjustment to the external valuation is required, we will review material factors that could affect the valuation, such as changes to the composition or performance of the underlying investments or comparable investments, overall market conditions, expected sale prices for private investments which are probable of being sold in the short-term and other economic factors that may possibly have a favorable or unfavorable effect on the reported external valuation. | ||||||||||||
Derivatives | ||||||||||||
Exchange traded derivatives, such as options and futures, for which market quotations are readily available, are valued at the last reported sale price or official closing price on the primary market or exchange on which they are traded and are classified in Level 1. Over-the-counter derivatives, including but not limited to swaps, swaptions and forwards, which are typically valued through independent pricing services with observable inputs are generally classified in Level 2. Swaps that are cleared by clearinghouses or exchanges are valued with the prices provided by those venues and are generally classified in Level 2. Derivatives classified in Level 3 are typically valued via the use of pricing models which incorporate significant unobservable inputs. The inputs part of the model based valuations may include extrapolated or model-derived assumptions such as volatilities, yield and credit spread assumptions. | ||||||||||||
Job Security Programs and Extended Disability Benefits | ||||||||||||
We have job security programs to provide UAW and Unifor (combined union of the Canadian Auto Workers union and the Communications, Energy and Paperworkers Union of Canada) employees reduced wages and continued coverage under certain employee benefit programs depending on the employee's classification as well as the number of years of service that the employee has accrued. We also provide extended disability benefits for employees currently disabled and those in the active workforce who may become disabled in the form of income replacement, healthcare costs and life insurance premiums. | ||||||||||||
We recognize a liability for job security programs and extended disability benefits over the expected service period using measurement provisions similar to those used to measure our OPEB obligations based on our best estimate of the probable liability at the measurement date. We record actuarial gains and losses immediately in earnings. | ||||||||||||
Stock Incentive Plans | ||||||||||||
We measure and record compensation expense for all share-based payment awards based on the award's estimated fair value which is the fair value of our common stock on the date of grant for RSUs and Performance Share Units (PSUs). For awards that do not have an accounting grant date established, the compensation cost is based on the fair value of our common stock at the end of each reporting period. We record compensation cost for the awards on a straight-line basis over the entire vesting period, or for retirement eligible employees over the requisite service period. Salary stock awards granted are fully vested and nonforfeitable upon grant; therefore, compensation cost is recorded on the date of grant. The liability for stock incentive plan awards settled in cash is remeasured to fair value at the end of each reporting period. | ||||||||||||
Policy, Product Warranty and Recall Campaigns | ||||||||||||
The estimated costs related to policy and product warranties are accrued at the time products are sold and are charged to Automotive cost of sales. These estimates are established using historical information on the nature, frequency and average cost of claims of each vehicle line or each model year of the vehicle line and assumptions about future activity and events. Revisions are made when necessary based on changes in these factors. The estimated costs related to recall campaigns are accrued at the time of vehicle sale in GMNA and when probable and reasonably estimable in other geographical regions. | ||||||||||||
Income Taxes | ||||||||||||
The liability method is used in accounting for income taxes. Deferred tax assets and liabilities are recorded for temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements using the statutory tax rates in effect for the year in which the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recorded in the results of operations in the period that includes the enactment date under the law. | ||||||||||||
Deferred income tax assets are evaluated quarterly to determine if valuation allowances are required or should be adjusted. We establish valuation allowances for deferred tax assets based on a more likely than not standard. The ability to realize deferred tax assets depends on the ability to generate sufficient taxable income within the carryback or carryforward periods provided for in the tax law for each applicable tax jurisdiction. The assessment regarding whether a valuation allowance is required or should be adjusted also considers all available positive and negative evidence factors. It is difficult to conclude a valuation allowance is not required when there is significant objective and verifiable negative evidence, such as cumulative losses in recent years. We utilize a rolling three years of actual and current year results as the primary measure of cumulative losses in recent years. | ||||||||||||
Income tax expense (benefit) for the year is allocated between continuing operations and other categories of income such as Other comprehensive income (loss). In periods in which there is a pre-tax loss from continuing operations and pre-tax income in another income category, the tax benefit allocated to continuing operations is determined by taking into account the pre-tax income of other categories. | ||||||||||||
We record uncertain tax positions on the basis of a two-step process whereby: (1) we determine whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position; and (2) for those tax positions that meet the more likely than not recognition, we recognize the largest amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with the related tax authority. We record interest and penalties on uncertain tax positions in Income tax expense (benefit). | ||||||||||||
Foreign Currency Transactions and Translation | ||||||||||||
The assets and liabilities of foreign subsidiaries that use the local currency as their functional currency are translated to U.S. Dollars based on the current exchange rate prevailing at each balance sheet date and any resulting translation adjustments are included in Accumulated other comprehensive loss. The assets and liabilities of foreign subsidiaries whose local currency is not their functional currency are remeasured from their local currency to their functional currency and then translated to U.S. Dollars. Revenues and expenses are translated into U.S. Dollars using the average exchange rates prevailing for each period presented. | ||||||||||||
Gains and losses arising from foreign currency transactions and the effects of remeasurements discussed in the preceding paragraph are recorded in Automotive cost of sales and GM Financial operating and other expenses unless related to Automotive debt, which are recorded in Interest income and other non-operating income, net. Foreign currency transaction and remeasurement losses were $437 million, $350 million and $117 million in the years ended December 31, 2014, 2013 and 2012. | ||||||||||||
Accounting Standards Not Yet Adopted | ||||||||||||
In May 2014 the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers” (ASU 2014-09) which requires companies to recognize revenue when a customer obtains control rather than when companies have transferred substantially all risks and rewards of a good or service. This update is effective for annual reporting periods beginning on or after December 15, 2016 and interim periods therein and requires expanded disclosures. We are currently assessing the impact the adoption of ASU 2014-09 will have on our consolidated financial statements. |
Acquisition_of_Businesses
Acquisition of Businesses | 12 Months Ended |
Dec. 31, 2014 | |
Business Combinations [Abstract] | |
Acquisition of Businesses [Text Block] | Acquisition of Businesses |
Acquisition of Certain Ally Financial International Operations | |
In November 2012 GM Financial entered into a definitive agreement with Ally Financial to acquire 100% of the outstanding equity interests in the top level holding companies of its automotive finance and financial services operations in Europe and Latin America and a separate agreement to acquire Ally Financial’s non-controlling equity interest in SAIC-GMAC, which conducts automotive finance and other financial services in China. | |
In the year ended December 31, 2013 GM Financial completed acquisitions of Ally Financial's European and Latin American automotive finance operations for an aggregate consideration of $3.3 billion. GM Financial recorded the fair value of the assets acquired and liabilities assumed on the acquisition dates, which consisted primarily of finance receivables and secured and unsecured debt with the remaining amount allocated to cash, other assets and liabilities and the residual goodwill recorded of $144 million. In the year ended December 31, 2014 there were no significant adjustments recorded to these assets acquired or liabilities assumed. The results of the acquired European and Latin American automotive finance operations are included in GM Financial's results beginning on the dates GM Financial completed each acquisition. The unaudited pro forma revenue and net income attributable to stockholders for the year ended December 31, 2013 had these acquisitions occurred as of January 1, 2012 would be $156.3 billion and $5.5 billion. | |
On January 2, 2015 GM Financial completed its acquisition of Ally Financial's 40% equity interest in SAIC-GMAC in China. The aggregate purchase price was approximately $1.0 billion, subject to certain post-closing adjustments. Also on January 2, 2015 GM Financial sold a 5% equity interest in SAIC-GMAC to SAICFC, a current shareholder of SAIC-GMAC, for proceeds of approximately $120 million, subject to certain post-closing adjustments. The valuation of the equity interest acquired was not yet complete at the time of this filing on Form 10-K because it was not practicable. As a result of these transactions GM indirectly owns 45% of SAIC-GMAC. |
Marketable_Securities
Marketable Securities | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Marketable Securities [Abstract] | ||||||||||||||||||
Marketable Securities [Text Block] | Marketable Securities | |||||||||||||||||
The following table summarizes information regarding marketable securities (dollars in millions): | ||||||||||||||||||
Fair Value Level | December 31, 2014 | December 31, 2013 | ||||||||||||||||
Cost | Fair Value | Cost | Fair Value | |||||||||||||||
Cash and cash equivalents | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
U.S. government and agencies | 2 | $ | 1,600 | $ | 1,600 | $ | 1,437 | $ | 1,437 | |||||||||
Sovereign debt | 2 | 774 | 774 | 515 | 515 | |||||||||||||
Money market funds | 1 | 2,480 | 2,480 | 1,262 | 1,262 | |||||||||||||
Corporate debt | 2 | 6,036 | 6,036 | 7,598 | 7,598 | |||||||||||||
Total available-for-sale securities | $ | 10,890 | 10,890 | $ | 10,812 | 10,812 | ||||||||||||
Trading securities | ||||||||||||||||||
Sovereign debt | 2 | 431 | — | |||||||||||||||
Corporate debt | 2 | — | 25 | |||||||||||||||
Total trading securities | 431 | 25 | ||||||||||||||||
Total marketable securities classified as cash equivalents | 11,321 | 10,837 | ||||||||||||||||
Cash, cash equivalents and time deposits | 7,633 | 9,184 | ||||||||||||||||
Total cash and cash equivalents | $ | 18,954 | $ | 20,021 | ||||||||||||||
Marketable securities | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
U.S. government and agencies | 2 | $ | 5,957 | $ | 5,957 | $ | 5,343 | $ | 5,344 | |||||||||
Corporate debt | 2 | 2,000 | 1,998 | 1,889 | 1,891 | |||||||||||||
Total available-for-sale securities | $ | 7,957 | 7,955 | $ | 7,232 | 7,235 | ||||||||||||
Trading securities – sovereign debt | 2 | 1,267 | 1,737 | |||||||||||||||
Total marketable securities | $ | 9,222 | $ | 8,972 | ||||||||||||||
Restricted cash and marketable securities | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
Money market funds | 1 | $ | 1,381 | $ | 1,381 | $ | 897 | $ | 897 | |||||||||
Other | 2 | 45 | 46 | 34 | 35 | |||||||||||||
Total marketable securities classified as restricted cash and marketable securities | $ | 1,426 | 1,427 | $ | 931 | 932 | ||||||||||||
Restricted cash and cash equivalents and time deposits | 846 | 1,144 | ||||||||||||||||
Total restricted cash and marketable securities | $ | 2,273 | $ | 2,076 | ||||||||||||||
We are required to post cash and marketable securities as collateral as part of certain agreements that we enter into as part of our operations. Cash and marketable securities subject to contractual restrictions and not readily available are classified as Restricted cash and marketable securities. Restricted cash and marketable securities are invested in accordance with the terms of the underlying agreements and include amounts related to various deposits, escrows and other cash collateral. | ||||||||||||||||||
Sales proceeds from investments classified as available-for-sale and sold prior to maturity were $5.9 billion, $4.7 billion and $4.7 billion in the years ended December 31, 2014, 2013 and 2012. Cumulative unrealized gains and losses on available-for-sale securities and net unrealized gains and losses on trading securities were insignificant at and in the years ended December 31, 2014, 2013 and 2012. | ||||||||||||||||||
The following table summarizes the amortized cost and the fair value of investments classified as available-for-sale by contractual maturity at December 31, 2014 (dollars in millions): | ||||||||||||||||||
Amortized Cost | Fair Value | |||||||||||||||||
Due in one year or less | $ | 14,461 | $ | 14,461 | ||||||||||||||
Due after one year through five years | 1,951 | 1,950 | ||||||||||||||||
Total contractual maturities of available-for-sale securities | $ | 16,412 | $ | 16,411 | ||||||||||||||
Peugeot S.A. | ||||||||||||||||||
In December 2013 we sold our seven percent investment in Peugeot S. A. (PSA) common stock for $339 million, net of disposal costs and we recorded a net gain of $152 million in Interest income and other non-operating income, net. | ||||||||||||||||||
At December 31, 2012 we determined that the carrying amount of our investment in PSA common stock was impaired and that the impairment was other-than-temporary. As a result we transferred the total unrealized losses from Accumulated other comprehensive loss to Interest income and other non-operating income, net resulting in an impairment charge of $220 million. |
GM_Financial_Receivables_net
GM Financial Receivables, net (GM Financial [Member]) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
GM Financial [Member] | ||||||||||||||||||||||||
Finance Receivables [Line Items] | ||||||||||||||||||||||||
GM Financial Receivables, net [Text Block] | GM Financial Receivables, net | |||||||||||||||||||||||
The following table summarizes the components of consumer and commercial finance receivables, net (dollars in millions): | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Consumer | Commercial | Total | Consumer | Commercial | Total | |||||||||||||||||||
Pre-acquisition finance receivables, outstanding amount | $ | 508 | $ | — | $ | 508 | $ | 1,294 | $ | — | $ | 1,294 | ||||||||||||
Pre-acquisition finance receivables, carrying amount | $ | 459 | $ | — | $ | 459 | $ | 1,174 | $ | — | $ | 1,174 | ||||||||||||
Post-acquisition finance receivables, net of fees | 25,164 | 7,606 | 32,770 | 21,956 | 6,050 | 28,006 | ||||||||||||||||||
Finance receivables | 25,623 | 7,606 | 33,229 | 23,130 | 6,050 | 29,180 | ||||||||||||||||||
Less: allowance for loan losses | (655 | ) | (40 | ) | (695 | ) | (497 | ) | (51 | ) | (548 | ) | ||||||||||||
GM Financial receivables, net | $ | 24,968 | $ | 7,566 | $ | 32,534 | $ | 22,633 | $ | 5,999 | $ | 28,632 | ||||||||||||
Fair value of GM Financial receivables, net | $ | 33,106 | $ | 28,668 | ||||||||||||||||||||
Allowance for loan losses classified as current at December 31, 2014 and 2013 were $529 million and $427 million. | ||||||||||||||||||||||||
GM Financial determines the fair value of consumer finance receivables using observable and unobservable inputs within a cash flow model. The inputs reflect assumptions regarding expected prepayments, deferrals, delinquencies, recoveries and charge-offs of the loans within the portfolio. The cash flow model produces an estimated amortization schedule of the finance receivables which is the basis for the calculation of the series of cash flows that derive the fair value of the portfolio. The series of cash flows are calculated and discounted using a weighted-average cost of capital (WACC) or current interest rates. The WACC uses unobservable debt and equity percentages, an unobservable cost of equity and an observable cost of debt based on companies with a similar credit rating and maturity profile as the portfolio. Macroeconomic factors could affect the credit performance of the portfolio and therefore could potentially affect the assumptions used in GM Financial's cash flow model. A substantial majority of commercial finance receivables have variable interest rates and maturities of one year or less. Therefore, the carrying amount is considered to be a reasonable estimate of fair value. | ||||||||||||||||||||||||
The following table summarizes activity for the allowance for loan losses on consumer and commercial finance receivables (dollars in millions): | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Balance at beginning of period | $ | 548 | $ | 351 | $ | 179 | ||||||||||||||||||
Provision for loan losses | 604 | 475 | 304 | |||||||||||||||||||||
Charge-offs | (914 | ) | (643 | ) | (304 | ) | ||||||||||||||||||
Recoveries | 470 | 362 | 172 | |||||||||||||||||||||
Effect of foreign currency | (13 | ) | 3 | — | ||||||||||||||||||||
Balance at end of period | $ | 695 | $ | 548 | $ | 351 | ||||||||||||||||||
The balances and activity of the allowance for commercial loan losses were insignificant at and for the years ended December 31, 2014, 2013 and 2012. | ||||||||||||||||||||||||
Credit Quality | ||||||||||||||||||||||||
Consumer Finance Receivables | ||||||||||||||||||||||||
GM Financial uses proprietary scoring systems that measure the credit quality of the receivables using several factors, such as credit bureau information, consumer credit risk scores (e.g. FICO scores) and contract characteristics. In addition to GM Financial's proprietary scoring systems GM Financial considers other individual consumer factors such as employment history, financial stability and capacity to pay. Subsequent to origination GM Financial reviews the credit quality of retail receivables based on customer payment activity. At the time of loan origination substantially all of GM Financial's international consumers have prime credit scores. At the time of loan origination many consumers in North America had sub-prime credit scores, which are defined as FICO scores of less than 620. At December 31, 2014 and 2013, 83% and 88% of the consumer finance receivables in North America were from consumers with FICO scores of less than 620. | ||||||||||||||||||||||||
GM Financial purchases consumer finance contracts from automobile dealers without recourse, and accordingly, the dealer has no liability to GM Financial if the consumer defaults on the contract. Finance receivables are collateralized by vehicle titles and GM Financial has the right to repossess the vehicle in the event the consumer defaults on the payment terms of the contract. | ||||||||||||||||||||||||
An account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date such payment was contractually due. At December 31, 2014 and 2013 the accrual of finance charge income has been suspended on delinquent consumer finance receivables with contractual amounts due of $682 million and $642 million. The following table summarizes the contractual amount of delinquent contracts, which is not significantly different than the recorded investment of the consumer finance receivables (dollars in millions): | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Amount | Percent of Contractual Amount Due | Amount | Percent of Contractual Amount Due | |||||||||||||||||||||
31-to-60 days delinquent | $ | 1,083 | 4.2 | % | $ | 952 | 4.1 | % | ||||||||||||||||
Greater-than-60 days delinquent | 432 | 1.7 | % | 408 | 1.7 | % | ||||||||||||||||||
Total finance receivables more than 30 days delinquent | 1,515 | 5.9 | % | 1,360 | 5.8 | % | ||||||||||||||||||
In repossession | 40 | 0.2 | % | 41 | 0.2 | % | ||||||||||||||||||
Total finance receivables more than 30 days delinquent or in repossession | $ | 1,555 | 6.1 | % | $ | 1,401 | 6 | % | ||||||||||||||||
Impaired Finance Receivables - TDRs | ||||||||||||||||||||||||
The following table summarizes the outstanding recorded investment for consumer finance receivables that are considered to be TDRs and the related allowance (dollars in millions): | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Outstanding recorded investment | $ | 1,234 | $ | 767 | ||||||||||||||||||||
Less: allowance for loan losses | (172 | ) | (103 | ) | ||||||||||||||||||||
Outstanding recorded investment, net of allowance | $ | 1,062 | $ | 664 | ||||||||||||||||||||
Unpaid principal balance | $ | 1,255 | $ | 779 | ||||||||||||||||||||
Commercial Finance Receivables | ||||||||||||||||||||||||
GM Financial's commercial finance receivables consist of dealer financings, primarily for inventory purchases. A proprietary model is used to assign a risk rating to each dealer. A credit review of each dealer is performed at least annually and, if necessary, the dealer's risk rating is adjusted on the basis of the review. At December 31, 2014 and 2013 the commercial finance receivables on non-accrual status were insignificant. The following table summarizes the credit risk profile by dealer grouping of the commercial finance receivables (dollars in millions): | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Group I - Dealers with superior financial metrics | $ | 1,050 | $ | 549 | ||||||||||||||||||||
Group II - Dealers with strong financial metrics | 2,022 | 1,460 | ||||||||||||||||||||||
Group III - Dealers with fair financial metrics | 2,599 | 1,982 | ||||||||||||||||||||||
Group IV - Dealers with weak financial metrics | 1,173 | 1,462 | ||||||||||||||||||||||
Group V - Dealers warranting special mention due to potential weaknesses | 524 | 385 | ||||||||||||||||||||||
Group VI - Dealers with loans classified as substandard, doubtful or impaired | 238 | 212 | ||||||||||||||||||||||
$ | 7,606 | $ | 6,050 | |||||||||||||||||||||
The credit lines for Group VI dealers are typically suspended and no further funding is extended to these dealers. |
Inventories
Inventories | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Inventory Disclosure [Abstract] | ||||||||
Inventories [Text Block] | Inventories | |||||||
The following table summarizes the components of Inventories (dollars in millions): | ||||||||
December 31, 2014 | December 31, 2013 | |||||||
Productive material, supplies and work in process | $ | 5,380 | $ | 5,872 | ||||
Finished product, including service parts | 8,262 | 8,167 | ||||||
Total inventories | $ | 13,642 | $ | 14,039 | ||||
Equipment_on_Operating_Leases_
Equipment on Operating Leases, net (Vehicles [Member]) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Vehicles [Member] | ||||||||||||||||||||
Property Subject to or Available for Operating Lease [Line Items] | ||||||||||||||||||||
Equipment on Operating Leases, net [Text Block] | Equipment on Operating Leases, net | |||||||||||||||||||
Automotive | ||||||||||||||||||||
Equipment on operating leases, net is composed of vehicle sales to daily rental car companies with a guaranteed repurchase obligation. The following tables summarize information related to Equipment on operating leases, net (dollars in millions): | ||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||
Equipment on operating leases | $ | 3,822 | $ | 2,605 | ||||||||||||||||
Less: accumulated depreciation | (258 | ) | (207 | ) | ||||||||||||||||
Equipment on operating leases, net | $ | 3,564 | $ | 2,398 | ||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
Depreciation expense | $ | 507 | $ | 218 | $ | 227 | ||||||||||||||
Impairment charges | $ | 155 | $ | 168 | $ | 181 | ||||||||||||||
Automotive Financing - GM Financial | ||||||||||||||||||||
GM Financial originates leases in the U.S. and Canada that are recorded as operating leases. A Canadian subsidiary of GM Financial originates and sells leases to a third-party with servicing retained. The following table summarizes GM Financial equipment on operating leases, net (dollars in millions): | ||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||
GM Financial equipment on operating leases | $ | 8,268 | $ | 4,025 | ||||||||||||||||
Less: accumulated depreciation | (1,208 | ) | (642 | ) | ||||||||||||||||
GM Financial equipment on operating leases, net | $ | 7,060 | $ | 3,383 | ||||||||||||||||
Depreciation expense related to GM Financial equipment on operating leases, net was $868 million, $450 million and $205 million in the years ended December 31, 2014, 2013 and 2012. | ||||||||||||||||||||
The following table summarizes minimum rental payments due to GM Financial as lessor under operating leases (dollars in millions): | ||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||
Minimum rental receipts under operating leases | $ | 1,241 | $ | 1,019 | $ | 597 | $ | 98 | $ | 5 | ||||||||||
Equity_In_Net_Assets_Of_Noncon
Equity In Net Assets Of Nonconsolidated Affiliates | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Equity Method Investments and Joint Ventures [Abstract] | ||||||||||||||||||||||||
Equity in Net Assets of Nonconsolidated Affiliates [Text Block] | Equity in Net Assets of Nonconsolidated Affiliates | |||||||||||||||||||||||
Nonconsolidated affiliates are entities in which an equity ownership interest is maintained and for which the equity method of accounting is used due to the ability to exert significant influence over decisions relating to their operating and financial affairs. | ||||||||||||||||||||||||
Sales and income of our China JVs are not consolidated into our financial statements; rather, our proportionate share of the earnings of each joint venture is reflected as Equity income. The following table summarizes information regarding Equity income (dollars in millions): | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
China JVs | $ | 2,066 | $ | 1,763 | $ | 1,521 | ||||||||||||||||||
Others | 28 | 47 | 41 | |||||||||||||||||||||
Total equity income | $ | 2,094 | $ | 1,810 | $ | 1,562 | ||||||||||||||||||
We received dividends from nonconsolidated affiliates of $1.8 billion, $1.7 billion and $1.4 billion in the years ended December 31, 2014, 2013 and 2012. At December 31, 2014 and 2013 we had undistributed earnings including dividends declared but not received of $2.0 billion and $1.8 billion related to our nonconsolidated affiliates. | ||||||||||||||||||||||||
Investment in China JVs | ||||||||||||||||||||||||
The following table summarizes our direct ownership interests in China JVs: | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Shanghai General Motors Co., Ltd. (SGM) | 50 | % | 50 | % | ||||||||||||||||||||
Shanghai GM Norsom Motor Co., Ltd. (SGM Norsom) | 25 | % | 25 | % | ||||||||||||||||||||
Shanghai GM Dong Yue Motors Co., Ltd. (SGM DY) | 25 | % | 25 | % | ||||||||||||||||||||
Shanghai GM Dong Yue Powertrain (SGM DYPT) | 25 | % | 25 | % | ||||||||||||||||||||
SAIC-GM-Wuling Automobile Co., Ltd. | 44 | % | 44 | % | ||||||||||||||||||||
FAW-GM Light Duty Commercial Vehicle Co., Ltd. | 50 | % | 50 | % | ||||||||||||||||||||
Pan Asia Technical Automotive Center Co., Ltd. | 50 | % | 50 | % | ||||||||||||||||||||
Shanghai OnStar Telematics Co., Ltd. (Shanghai OnStar) | 40 | % | 40 | % | ||||||||||||||||||||
Shanghai Chengxin Used Car Operation and Management Co., Ltd. (Shanghai Chengxin Used Car) | 33 | % | 33 | % | ||||||||||||||||||||
SAIC General Motors Sales Co., Ltd. (SGMS) | 49 | % | 49 | % | ||||||||||||||||||||
SGM is a joint venture established by Shanghai Automotive Industry Corporation (SAIC) (50%) and us (50%). SGM has interests in three other joint ventures in China: SGM Norsom, SGM DY and SGM DYPT. These three joint ventures are jointly held by SGM (50%), SAIC (25%) and us (25%). These four joint ventures are engaged in the production, import and sale of a comprehensive range of products under the Buick, Chevrolet and Cadillac brands. SGM also has interests in Shanghai OnStar (20%) and Shanghai Chengxin Used Car (33%). SGM also has a 20% equity interest in SAIC-GMAC, a joint venture established by General Motors Acceptance Corporation (now Ally Financial) (40%) and SAICFC (40%). As a result of GM Financial's transactions on January 2, 2015 GM Financial now owns 35% of SAIC-GMAC and SAICFC owns 45%. | ||||||||||||||||||||||||
SGMS is a joint venture established in November 2011 by SAIC (51%) and us (49%) to engage in the sales of the imported Buick, Chevrolet and Cadillac brands and the sales of automobiles manufactured by SGM. | ||||||||||||||||||||||||
Investment in and Summarized Financial Data of Nonconsolidated Affiliates | ||||||||||||||||||||||||
The following table summarizes the carrying amount of investments in nonconsolidated affiliates (dollars in millions): | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
China JVs | $ | 8,140 | $ | 7,851 | ||||||||||||||||||||
Other investments | 210 | 243 | ||||||||||||||||||||||
Total equity in net assets of nonconsolidated affiliates | $ | 8,350 | $ | 8,094 | ||||||||||||||||||||
At December 31, 2014 and 2013 the carrying amount of our investments in certain joint ventures exceeded our share of the underlying net assets by $3.9 billion and $3.8 billion primarily related to goodwill from the application of fresh-start reporting and purchase of additional interests in nonconsolidated affiliates. | ||||||||||||||||||||||||
The following tables present summarized financial data for nonconsolidated affiliates (dollars in millions): | ||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
China JVs | Others | Total | China JVs | Others | Total | |||||||||||||||||||
Summarized Balance Sheet Data | ||||||||||||||||||||||||
Current assets | $ | 15,442 | $ | 2,636 | $ | 18,078 | $ | 14,666 | $ | 2,234 | $ | 16,900 | ||||||||||||
Non-current assets | 9,758 | 1,507 | 11,265 | 8,187 | 1,458 | 9,645 | ||||||||||||||||||
Total assets | $ | 25,200 | $ | 4,143 | $ | 29,343 | $ | 22,853 | $ | 3,692 | $ | 26,545 | ||||||||||||
Current liabilities | $ | 16,141 | $ | 2,179 | $ | 18,320 | $ | 14,019 | $ | 1,859 | $ | 15,878 | ||||||||||||
Non-current liabilities | 931 | 495 | 1,426 | 1,065 | 511 | 1,576 | ||||||||||||||||||
Total liabilities | $ | 17,072 | $ | 2,674 | $ | 19,746 | $ | 15,084 | $ | 2,370 | $ | 17,454 | ||||||||||||
Non-controlling interests | $ | 1,043 | $ | 3 | $ | 1,046 | $ | 1,040 | $ | — | $ | 1,040 | ||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Summarized Operating Data | ||||||||||||||||||||||||
China JVs' net sales | $ | 43,853 | $ | 38,767 | $ | 33,364 | ||||||||||||||||||
Others' net sales | 3,171 | 1,830 | 3,963 | |||||||||||||||||||||
Total net sales | $ | 47,024 | $ | 40,597 | $ | 37,327 | ||||||||||||||||||
China JVs' net income | $ | 4,312 | $ | 3,685 | $ | 3,198 | ||||||||||||||||||
Others' net income (loss) | 91 | 50 | (23 | ) | ||||||||||||||||||||
Total net income | $ | 4,403 | $ | 3,735 | $ | 3,175 | ||||||||||||||||||
Transactions with Nonconsolidated Affiliates | ||||||||||||||||||||||||
Nonconsolidated affiliates are involved in various aspects of the development, production and marketing of cars, trucks and automobile parts. We purchase component parts and vehicles from certain nonconsolidated affiliates for resale to dealers. We also sell component parts and vehicles to certain nonconsolidated affiliates. The following tables summarize transactions with nonconsolidated affiliates (dollars in millions): | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Automotive sales and revenue | $ | 2,762 | $ | 2,724 | $ | 2,572 | ||||||||||||||||||
Automotive purchases, net | $ | 311 | $ | 724 | $ | 497 | ||||||||||||||||||
Interest income and other non-operating income, net | $ | 23 | $ | 19 | $ | 184 | ||||||||||||||||||
Operating cash flows | $ | 4,321 | $ | 3,607 | $ | 3,385 | ||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Accounts and notes receivable, net | $ | 706 | $ | 756 | ||||||||||||||||||||
Accounts payable | $ | 205 | $ | 183 | ||||||||||||||||||||
Property_net
Property, net | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Property, Plant and Equipment, Net [Abstract] | ||||||||||||
Property, net [Text Block] | Property, net | |||||||||||
The following table summarizes the components of Property, net (dollars in millions): | ||||||||||||
Estimated Useful Lives in Years | December 31, 2014 | December 31, 2013 | ||||||||||
Land | $ | 1,695 | $ | 1,868 | ||||||||
Buildings and improvements | May-40 | 5,236 | 4,971 | |||||||||
Machinery and equipment | 27-Mar | 16,788 | 15,222 | |||||||||
Construction in progress | 4,114 | 2,644 | ||||||||||
Real estate, plants and equipment | 27,833 | 24,705 | ||||||||||
Less: accumulated depreciation | (8,067 | ) | (6,787 | ) | ||||||||
Real estate, plants and equipment, net | 19,766 | 17,918 | ||||||||||
Special tools, net | 15-Jan | 7,977 | 7,949 | |||||||||
Total property, net | $ | 27,743 | $ | 25,867 | ||||||||
The amount of capitalized software included in Property, net was $817 million and $630 million in the years ended December 31, 2014 and 2013. The amount of interest capitalized and excluded from Automotive interest expense related to Property, net was $70 million, $81 million and $117 million in the years ended December 31, 2014, 2013 and 2012. | ||||||||||||
The following table summarizes depreciation, amortization and impairment charges related to Property, net (dollars in millions): | ||||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Depreciation and amortization expense | $ | 4,187 | $ | 3,959 | $ | 3,888 | ||||||
Impairment charges(a) | 709 | 901 | 3,793 | |||||||||
Depreciation, amortization and impairment charges | $ | 4,896 | $ | 4,860 | $ | 7,681 | ||||||
Capitalized software amortization expense(b) | $ | 295 | $ | 244 | $ | 209 | ||||||
__________ | ||||||||||||
(a) | Includes impairment charges of $321 million and $179 million at GMIO and GME whose assets were written down to fair values of $85 million and $11 million at December 31, 2014. Also includes other assets whose fair value was determined to be $0 in the years ended December 31, 2014, 2013 and 2012 measured utilizing Level 3 inputs. Fair value measurements of the non-GMIO and non-GME asset group long-lived assets utilized projected cash flows discounted at a rate commensurate with the perceived business risks related to the assets involved. | |||||||||||
(b) | Included in total depreciation, impairment charges and amortization expense. | |||||||||||
Impairment Charges | ||||||||||||
Year Ended December 31, 2013 | ||||||||||||
GMIO | ||||||||||||
As a result of our strategic assessment of GM India in response to lower than expected sales performance of our current product offerings in India, higher raw material costs, unfavorable foreign exchange rates and recent deterioration in local market conditions we recorded impairment charges of $280 million to adjust the carrying amount of GM India’s real and personal property to fair value of $45 million. These charges were recorded in Automotive cost of sales. We also recorded intangible asset and goodwill impairment charges of $103 million, for total impairment charges of $383 million. The noncontrolling interest portion of these charges was $35 million based on our 90.8% ownership of GM India. Refer to Note 11 for additional information regarding the impairment of Intangible assets, net and Note 10 for additional information regarding the impairment of Goodwill. | ||||||||||||
As a result of our plans to cease manufacturing and significantly reduce engineering at our GM Holden Ltd. (Holden) subsidiary in Australia by the end of 2017 we recorded asset impairment charges of $477 million to adjust the carrying amounts of certain long-lived assets to fair value of $71 million. These charges were recorded in Automotive cost of sales. Refer to Note 19 for additional information on the actions taken at Holden. | ||||||||||||
Year Ended December 31, 2012 | ||||||||||||
During the fourth quarter of 2012 our European industry outlook deteriorated and our forecast of 2013 cash flows declined notwithstanding our actions. As a result of our recoverability test of the GME asset group we recorded asset impairment charges of $3.7 billion to adjust the carrying amount of the GME real and personal property to fair value of $0.4 billion. These charges were recorded primarily in Automotive cost of sales. We also recorded intangible asset and other long-lived asset impairment charges of $1.8 billion, for total impairment charges of $5.5 billion. Refer to Note 11 for additional information regarding the impairment of Intangible assets, net. | ||||||||||||
Fair Value Measurements | ||||||||||||
To determine the estimated fair value of real and personal property, the cost approach, market approach and income approach were considered. Under the cost approach, the determination of fair value considered the estimates of the cost to construct or purchase a new asset of equal utility at current prices with adjustments in value for physical deterioration, functional obsolescence, and economic obsolescence. Under the market approach, the determination of fair value considered the market prices in transactions for similar assets and certain direct market values based on quoted prices from brokers and secondary market participants for similar assets. Under the income approach, the determination of fair value considered the estimate of the present worth of future benefits derived from ownership, usually measured through the capitalization of a specific level of income which can be derived from the subject asset with adjustments in value for demolition costs and for the effect of an estimated holding period. Under the income approach, it was assumed fair value could not exceed the present value of the net cash flows discounted at a rate commensurate with the level of risk inherent in the subject asset. An in-exchange premise was determined to be the highest and best use. | ||||||||||||
The following table summarizes the significant Level 3 inputs for real and personal property measurements: | ||||||||||||
Valuation Technique(s) | Unobservable Input(s) | Range | ||||||||||
GM India personal property | Market approach | Economic obsolescence(a) | 72% - 100% | |||||||||
Holden real property | Income approach | Holding period(b) | 0 - 3 years | |||||||||
Discount rate(c) | 11% - 12% | |||||||||||
GME real property | Market approach | Demolition costs(d) | 6% - 23% | |||||||||
Cost approach | Holding period(b) | 0 - 4 years | ||||||||||
Income approach | Discount rate(c) | 11.2% - 14.5% | ||||||||||
GME personal property | Market approach | Physical deterioration(e) | 52% - 69% | |||||||||
Cost approach | Functional obsolescence(f) | 8% - 28% | ||||||||||
Economic obsolescence(a) | 17% - 23% | |||||||||||
__________ | ||||||||||||
(a) | Represents estimated loss in asset value caused by factors external to the asset such as legislative enactments, changes in use, social change and change in supply and demand. | |||||||||||
(b) | Represents estimated marketing period for each property which dictates the amount of property specific holding costs to be incurred such as real estate taxes. | |||||||||||
(c) | Represents the discount rate for the specific property based on local market sources and available benchmarking data. | |||||||||||
(d) | Represents estimated gross cost to demolish and clear the structures on the property as a percentage of replacement cost new. | |||||||||||
(e) | Represents estimated loss in asset value due to wear and tear, action of the elements and other physical factors that reduce the life and serviceability of the asset. | |||||||||||
(f) | Represents estimated loss in asset value caused by inefficiencies and inadequacies of the asset itself. | |||||||||||
The personal property in our Holden asset group was determined to have a nominal fair value because of anticipated losses during the wind-down period and limited to no salvage value given the decline in the automotive manufacturing base in Australia. | ||||||||||||
The fair value estimates for GM India, Holden and GME real and personal property are based on a valuation premise that assumes the assets' highest and best use are different than their current use based on the forecasted financial results of the asset groups. |
Goodwill
Goodwill | 12 Months Ended | |||||||||||||
Dec. 31, 2014 | ||||||||||||||
Goodwill [Abstract] | ||||||||||||||
Goodwill [Text Block] | Goodwill | |||||||||||||
The following table summarizes the changes in the carrying amounts of Goodwill (dollars in millions): | ||||||||||||||
Automotive | GM Financial | Total | ||||||||||||
Balance at January 1, 2013 | $ | 695 | $ | 1,278 | $ | 1,973 | ||||||||
Impairment charges | (541 | ) | — | (541 | ) | |||||||||
Goodwill from business combinations(a) | 10 | 144 | 154 | |||||||||||
Effect of foreign currency and other | (26 | ) | — | (26 | ) | |||||||||
Balance at December 31, 2013 | 138 | 1,422 | 1,560 | |||||||||||
Impairment charges | (120 | ) | — | (120 | ) | |||||||||
Effect of foreign currency and other | (18 | ) | 5 | (13 | ) | |||||||||
Balance at December 31, 2014 | $ | — | $ | 1,427 | $ | 1,427 | ||||||||
Accumulated impairment charges at January 1, 2013 | $ | (29,897 | ) | $ | — | $ | (29,897 | ) | ||||||
Accumulated impairment charges at December 31, 2013 | $ | (30,438 | ) | $ | — | $ | (30,438 | ) | ||||||
Accumulated impairment charges at December 31, 2014 | $ | (30,558 | ) | $ | — | $ | (30,558 | ) | ||||||
_________ | ||||||||||||||
(a) | Refer to Note 3 for additional information concerning the acquisitions. | |||||||||||||
The total automotive Goodwill balance at December 31, 2013 was recorded in GMSA. In addition to our annual goodwill impairment tests we performed event-driven goodwill impairment tests at various dates for certain of our reporting units in the years ended December 31, 2013 and 2012. | ||||||||||||||
GMSA | ||||||||||||||
Based on the results of our annual goodwill impairment tests we recorded total Goodwill impairment charges of $120 million in the year ended December 31, 2014. The impairment charges primarily resulted from lower forecasted profitability in Brazil resulting from recent deterioration in local market conditions and in Venezuela resulting from challenging local market conditions, including unfavorable foreign exchange rates and the recent downward trend in the price of oil. At December 31, 2014 the goodwill balance was $0 for all of the reporting units in GMSA. | ||||||||||||||
GMNA | ||||||||||||||
Subsequent to our 2012 annual goodwill impairment test, we reversed $36.2 billion of our deferred tax asset valuation allowances for our GMNA reporting unit. The reversal of the deferred tax asset valuation allowances resulted in the carrying amount of our GMNA reporting unit exceeding fair value. As a result we performed an event-driven goodwill impairment test in the three months ended December 31, 2012 and recorded a Goodwill impairment charge of $26.4 billion. Refer to Note 18 for additional information on the reversal of our deferred tax asset valuation allowances for our U.S. and Canadian operations. | ||||||||||||||
GME | ||||||||||||||
At the time of our 2012 annual impairment test our GME reporting unit had a negative carrying amount and because it was more likely than not further goodwill impairment existed due to further deterioration in the business outlook for GME and increases in the fair value of estimated employee benefit obligations, we recorded Goodwill impairment charges of $590 million in the year ended December 31, 2012. | ||||||||||||||
GMIO | ||||||||||||||
Based on the results of our annual and event-driven goodwill impairment tests we recorded total Goodwill impairment charges of $541 million and $156 million in the years ended December 31, 2013 and 2012. The impairment charges primarily related to our GM Korea Company (GM Korea) and Holden reporting units. We performed event-driven goodwill impairment tests for GM Korea in 2013 and 2012 as the fair value of GM Korea continued to be below its carrying amount due to ongoing economic weakness in certain markets to which GM Korea exports coupled with lower forecasted margins resulting from higher raw material costs and unfavorable foreign exchange rates. Furthermore in the three months ended December 31, 2013 we announced our plans to cease mainstream distribution of Chevrolet brand in Western and Central Europe that resulted in the impairment of the remaining goodwill. Chevrolet sales in Europe are included in our GM Korea operations. We also recorded a Goodwill impairment charge in the three months ended December 31, 2013 associated with our GM India reporting unit resulting from lower forecasted profitability in India due to lower than expected sales performance of our current product offerings in India, higher raw material costs, unfavorable foreign exchange rates and deterioration in local market conditions. Refer to Note 9 for additional information on our operations in India. At December 31, 2013 the goodwill balance was $0 for all of the reporting units in GMIO. | ||||||||||||||
Intangible_Assets_net
Intangible Assets, net | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Intangible Assets, Net (Excluding Goodwill) [Abstract] | ||||||||||||||||||||||||
Intangible Assets, net [Text Block] | Intangible Assets, net | |||||||||||||||||||||||
The following table summarizes the components of Intangible assets, net (dollars in millions): | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||||||||
Technology and intellectual property | $ | 8,193 | $ | 7,744 | $ | 449 | $ | 8,210 | $ | 7,308 | $ | 902 | ||||||||||||
Brands | 4,447 | 683 | 3,764 | 4,466 | 559 | 3,907 | ||||||||||||||||||
Dealer network and customer relationships | 1,094 | 434 | 660 | 1,108 | 364 | 744 | ||||||||||||||||||
Favorable contracts and other | 345 | 331 | 14 | 345 | 326 | 19 | ||||||||||||||||||
Total amortizing intangible assets | 14,079 | 9,192 | 4,887 | 14,129 | 8,557 | 5,572 | ||||||||||||||||||
Nonamortizing in process research and development | 96 | 96 | 96 | 96 | ||||||||||||||||||||
Total intangible assets | $ | 14,175 | $ | 9,192 | $ | 4,983 | $ | 14,225 | $ | 8,557 | $ | 5,668 | ||||||||||||
In December 2012 we entered into a product development agreement with PSA to collaborate on the development of certain vehicle platforms, components and modules. As a result of this agreement, in the three months ended March 31, 2013 we acquired the rights to certain technology and intellectual property for total consideration of $642 million. Consideration of $201 million was paid in cash in May 2013 with the remaining consideration to be paid by May 2018. The acquired rights were recorded at the present value of the total payments to be made as technology and intellectual property of $594 million. In December 2013 we agreed with PSA to mutually cancel development of one of the vehicle programs and reduce the amount of remaining consideration to be paid, resulting in a net charge of $49 million recorded in Automotive cost of sales in GMNA. The net charge consisted of an impairment of the associated intellectual property of $211 million and a reduction of total consideration from $642 million to $480 million. | ||||||||||||||||||||||||
The following table summarizes the amortization expense and impairment charges related to Intangible assets, net (dollars in millions): | ||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Amortization expense | $ | 676 | $ | 1,281 | $ | 1,568 | ||||||||||||||||||
Impairment charges | $ | 16 | $ | 523 | $ | 1,755 | ||||||||||||||||||
The following table summarizes estimated amortization expense related to Intangible assets, net in each of the next five years (dollars in millions): | ||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||||||
Estimated amortization expense | $ | 332 | $ | 311 | $ | 306 | $ | 302 | $ | 205 | ||||||||||||||
Impairment Charges | ||||||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||||||
GMIO | ||||||||||||||||||||||||
As a result of our strategic assessment of GM India we recorded impairment charges of $48 million to adjust the carrying amounts of Intangible assets, net, primarily favorable contract intangibles, to fair value of $0 because of a lack of economic support associated with GM India's declining operations. These charges were recorded primarily in Automotive cost of sales. Refer to Note 9 for additional information regarding the triggering events of the impairment charges in GM India. | ||||||||||||||||||||||||
We recorded impairment charges of $264 million to adjust the carrying amounts of Intangible assets, net, primarily dealer network intangibles related to the Chevrolet network in Europe, to fair value of $0 because we are winding down the dealer network in 2014 and we expect to incur losses during the wind-down period. These charges were recorded in Automotive cost of sales. Refer to Note 19 for additional information on the withdrawal of the Chevrolet brand from Europe. | ||||||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||||||
We adjusted the carrying amount of the GME intangible assets to fair value of $139 million and recorded asset impairment charges of $1.8 billion at December 31, 2012. These charges were recorded primarily in Automotive selling, general and administrative expense. The fair value estimates for GME's intangible assets are based on a valuation premise that assumes the assets' highest and best use are different than their current use due to the overall European macro-economic environment. | ||||||||||||||||||||||||
To determine the estimated fair value of the brand intangible assets we used the relief from royalty method which is a form of the income approach. Under this approach revenue associated with the brand is projected over the expected remaining useful life of the asset. A royalty rate is then applied to estimate the royalty savings. The royalty rate used was based on an analysis of empirical, market-derived royalty rates for guideline intangible assets and a profit split analysis to determine a rate that is economically supported by GME's forecasted profitability. The net after-tax royalty savings are calculated for each year during the remaining economic life of the asset and discounted to present value. | ||||||||||||||||||||||||
To determine the estimated fair value of the dealer network we used the cost approach with adjustments in value for the overcapacity of dealers and the sales environment in the region. We determined the fair value to be $0. | ||||||||||||||||||||||||
The following table summarizes the significant Level 3 inputs for brand intangible assets measurements: | ||||||||||||||||||||||||
Valuation Technique | Unobservable Input(s) | Percentage | ||||||||||||||||||||||
Brand intangible assets | Income approach | Long-term growth rate | 0.50% | |||||||||||||||||||||
Pre-tax royalty rate(a) | 0.14% | |||||||||||||||||||||||
Discount rate(b) | 21.25% | |||||||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Represents estimated savings realized from owning the asset or having the royalty-free right to use the asset. | |||||||||||||||||||||||
(b) | Represents WACC adjusted for perceived business risks related to these intangible assets. |
Variable_Interest_Entities
Variable Interest Entities | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Variable Interest Entities [Abstract] | ||||||||
Variable Interest Entities [Text Block] | Variable Interest Entities | |||||||
Automotive Financing - GM Financial Consolidated VIEs | ||||||||
GM Financial uses special purpose entities (SPEs) that are considered VIEs to issue variable funding notes to third party bank-sponsored warehouse facilities or asset-backed securities to investors in securitization transactions. The debt issued by these VIEs is backed by the cash flows related to finance receivables and leasing related assets transferred by GM Financial to the VIEs (Securitized Assets). GM Financial holds variable interests in the VIEs that could potentially be significant to the VIEs. GM Financial determined that they are the primary beneficiary of the SPEs because: (1) the servicing responsibilities for the Securitized Assets give GM Financial the power to direct the activities that most significantly impact the performance of the VIEs; and (2) the variable interests in the VIEs give GM Financial the obligation to absorb losses and the right to receive residual returns that could potentially be significant. The assets and liabilities of the VIEs are included in GM Financial's consolidated balance sheets. The following table summarizes the assets and liabilities related to GM Financial's consolidated VIEs prior to intercompany eliminations (dollars in millions): | ||||||||
December 31, 2014 | December 31, 2013 | |||||||
Restricted cash | $ | 1,721 | $ | 1,523 | ||||
Securitized Assets | $ | 27,704 | $ | 23,584 | ||||
Securitization notes payable and other credit facilities | $ | 22,794 | $ | 19,448 | ||||
The assets of the VIEs and the restricted cash held by GM Financial serve as the sole source of repayment for the debt issued by these entities. Restricted cash represents collections from the underlying Securitized Assets and certain reserve accounts held as credit enhancement for securitizations held by GM Financial for the benefit of the noteholders. An additional form of credit enhancement is provided in the form of overcollateralization, whereby more loans or leases are transferred to the VIEs than the amount of asset-backed securities issued by the VIEs. GM Financial also maintains an allowance for estimated probable credit losses on securitized receivables. Cash pledged is invested in highly liquid securities with original maturities of 90 days or less. | ||||||||
Investors in the notes issued by the VIEs do not have recourse to GM Financial or its other assets, with the exception of customary representation and warranty repurchase provisions and indemnities that GM Financial provides as the servicer. GM Financial is not required and does not currently intend to provide additional financial support to these SPEs. While these subsidiaries are included in GM Financial's consolidated financial statements, these subsidiaries are separate legal entities and their assets are legally owned by them and are not available to GM Financial's creditors. |
Accrued_Liabilities_and_Other_
Accrued Liabilities and Other Liabilities | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Accrued Liabilities and Other Liabilities [Abstract] | ||||||||||||
Accrued Liabilities and Other Liabilities[Text Block] | Accrued Liabilities and Other Liabilities | |||||||||||
The following table summarizes the components of Accrued liabilities and Other liabilities (dollars in millions): | ||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||
Current | ||||||||||||
Dealer and customer allowances, claims and discounts | $ | 8,035 | $ | 7,919 | ||||||||
Deposits primarily from rental car companies | 6,089 | 4,713 | ||||||||||
Deferred revenue | 1,622 | 1,276 | ||||||||||
Product warranty and related liabilities | 3,582 | 2,721 | ||||||||||
Payrolls and employee benefits excluding postemployment benefits | 2,144 | 2,285 | ||||||||||
Other | 6,712 | 5,719 | ||||||||||
Total accrued liabilities | $ | 28,184 | $ | 24,633 | ||||||||
Non-current | ||||||||||||
Deferred revenue | $ | 1,556 | $ | 1,249 | ||||||||
Product warranty and related liabilities | 6,064 | 4,880 | ||||||||||
Employee benefits excluding postemployment benefits | 1,049 | 1,192 | ||||||||||
Postemployment benefits including facility idling reserves | 1,259 | 1,216 | ||||||||||
Other | 4,154 | 4,816 | ||||||||||
Total other liabilities | $ | 14,082 | $ | 13,353 | ||||||||
The following table summarizes activity for product warranty and related liabilities which include policy, product warranty, recall campaigns and courtesy transportation (dollars in millions): | ||||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Beginning balance | $ | 7,601 | $ | 7,633 | $ | 7,031 | ||||||
Warranties issued and assumed in period - recall campaigns and courtesy transportation | 2,910 | 640 | 775 | |||||||||
Warranties issued and assumed in period - policy and warranty | 2,540 | 2,757 | 2,840 | |||||||||
Payments | (4,326 | ) | (3,240 | ) | (3,575 | ) | ||||||
Adjustments to pre-existing warranties | 1,187 | 49 | 504 | |||||||||
Effect of foreign currency and other | (266 | ) | (238 | ) | 58 | |||||||
Ending balance | $ | 9,646 | $ | 7,601 | $ | 7,633 | ||||||
In the year ended December 31, 2014 we recorded charges of approximately $2.9 billion in Automotive cost of sales relating to recall campaigns and courtesy transportation, of which over 86% was recorded in GMNA. The recorded charges primarily comprised: (1) approximately $680 million for 2.6 million vehicles to repair ignition switches that could result in a loss of electrical power under certain circumstances that may prevent front airbags from deploying in the event of a crash (accident victims who died or suffered physical injury associated with these vehicles (or their families) may be eligible to participate in a compensation program, as more fully described in Note 17); to fix ignition lock cylinders that could allow removal of the ignition key while the engine is running, leading to possible rollaway or crash; and to provide courtesy transportation to owners of affected vehicles; partially offset by adjustments of approximately $95 million for courtesy transportation as a result of greater part availability and fewer customers utilizing courtesy transportation than originally estimated and approximately $80 million for costs originally estimated separately for ignition switches and ignition lock cylinders that are now being shipped and repaired at the same time resulting in reduced costs; (2) approximately $340 million for 1.9 million vehicles to replace either the power steering motor, the steering column, the power steering motor control unit or a combination of the steering column and the power steering motor control unit as the electric power steering could fail under certain circumstances; (3) approximately $185 million for 1.3 million vehicles prone to non-deployment of the side impact restraints if vehicles are not serviced when the Service Air Bag warning light is illuminated; (4) approximately $90 million for 2.7 million vehicles to modify the brake lamp wiring harness that could have corrosion develop due to micro-vibration; (5) approximately $80 million for 1.5 million vehicles to replace front safety lap belt cables that could fatigue and separate over time; (6) approximately $150 million for 1.4 million vehicles to replace the shift cable that could wear out over time resulting in mismatches of the gear position indicated by the shift lever; (7) approximately $325 million for 12.1 million vehicles to rework or replace ignition keys because the ignition switch may move out of the “run” position which may impact power steering and power braking and, depending on the timing of the key movement relative to the activation of the sensing algorithm of a crash event, may result in airbags not deploying; and (8) approximately $520 million for 5.2 million vehicles for other matters. | ||||||||||||
We have historically accrued estimated costs related to recall campaigns in GMNA when they are probable and reasonably estimable, which typically occurs once it is determined a specific recall campaign is needed and announced. During the three months ended June 30, 2014, following the significant increase in the number of vehicles subject to recall in GMNA, the results of our ongoing comprehensive safety review, additional engineering analysis, the creation of a new Global Product Integrity organization, the appointment of a new Global Vice President of Vehicle Safety responsible for the safety development of our vehicle systems and our overall commitment to customer satisfaction, we accumulated sufficient historical data in GMNA to support the use of an actuarial-based estimation technique for recall campaigns. As such, we now accrue at the time of vehicle sale in GMNA the costs for recall campaigns. Based on the expanded historical data, we recorded a catch-up adjustment of $874 million to adjust the estimate for recall costs for previously sold vehicles, which is included in Adjustments to pre-existing warranties in the three months ended June 30, 2014. The estimation technique for recall campaigns takes into account our historical experience, including incident rates of recall campaigns. In the six months ended December 31, 2014 we announced 23 recalls covering approximately 8.1 million vehicles related to safety, customer satisfaction and other matters. The costs for these recalls are comprehended in the catch-up adjustment and also resulted in additional adjustment of approximately $200 million. |
ShortTerm_and_LongTerm_Debt
Short-Term and Long-Term Debt | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||
Short-Term and Long-Term Debt [Text Block] | Short-Term and Long-Term Debt | ||||||||||||||||
Automotive | |||||||||||||||||
The following table summarizes the components of our short-term and long-term debt (dollars in millions): | |||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||
Secured debt | $ | 237 | $ | 320 | |||||||||||||
Unsecured debt | 8,205 | 5,852 | |||||||||||||||
Capital leases | 968 | 965 | |||||||||||||||
Total automotive debt(a) | $ | 9,410 | $ | 7,137 | |||||||||||||
Fair value of automotive debt | $ | 9,799 | $ | 6,837 | |||||||||||||
Available under credit facility agreements | $ | 12,026 | $ | 10,404 | |||||||||||||
Interest rate range on outstanding debt(b) | 0.0-18.0% | 0.0-19.0% | |||||||||||||||
Weighted-average interest rate on outstanding short-term debt(b) | 6.4 | % | 9 | % | |||||||||||||
Weighted-average interest rate on outstanding long-term debt(b) | 4.3 | % | 3.8 | % | |||||||||||||
__________ | |||||||||||||||||
(a) | Net of a $681 million and $765 million net discount at December 31, 2014 and 2013. | ||||||||||||||||
(b) | Includes coupon rates on debt denominated in various foreign currencies and interest free loans. | ||||||||||||||||
The fair value of debt includes $7.6 billion measured utilizing Level 1 inputs at December 31, 2014 and $2.2 billion and $6.8 billion measured utilizing Level 2 inputs at December 31, 2014 and 2013. The fair value of debt measured utilizing Level 1 inputs was based on quoted prices in active markets for identical instruments that a market participant can access at the measurement date. The fair value of debt measured utilizing Level 2 inputs was based on quoted market prices in inactive markets for identical instruments and if unavailable, a discounted cash flow model. This model utilizes observable inputs such as contractual repayment terms and benchmark yield curves, plus a spread based on our senior unsecured notes that is intended to represent our nonperformance risk. We obtain the benchmark yield curves and yields on unsecured notes from independent sources that are widely used in the financial industry. | |||||||||||||||||
Revolving Credit Facilities | |||||||||||||||||
We received an investment grade corporate rating from Moody's in September 2013 and from S&P in September 2014 which allowed the release of the collateral securing our $11.0 billion revolving credit facilities under their terms. | |||||||||||||||||
In October 2014 we amended our two primary revolving credit facilities, increasing our aggregate borrowing capacity from $11.0 billion to $12.5 billion. These facilities consist of a three-year, $5.0 billion facility and a five-year, $7.5 billion facility. Both facilities are available to the Company as well as certain wholly-owned subsidiaries, including GM Financial. The three-year, $5.0 billion facility allows for borrowings in U.S. Dollars and other currencies and includes a GM Financial borrowing sub-limit of $2.0 billion, a letter of credit sub-facility of $1.6 billion and a Brazilian Real sub-facility of $305 million. The five-year, $7.5 billion facility allows for borrowings in U.S. Dollars and other currencies and includes a GM Financial borrowing sub-limit of $2.0 billion, a letter of credit sub-limit of $500 million and a Brazilian Real sub-facility of $195 million. | |||||||||||||||||
The revolving credit facilities contain representations, warranties and covenants that are typical for these types of facilities. The facilities also require us to maintain at least $4.0 billion in global liquidity and at least $2.0 billion in U.S. liquidity and to guarantee any borrowings by our subsidiaries. If we fail to maintain an investment grade corporate rating from two or more of the following credit rating agencies: Fitch, Moody's and S&P, we will be required to provide guarantees from certain domestic subsidiaries under the terms of the facilities. Interest rates on obligations under the revolving credit facilities are based on prevailing annual interest rates for Eurodollar loans or an alternative base rate, plus an applicable margin. | |||||||||||||||||
Senior Unsecured Notes | |||||||||||||||||
In November 2014 we issued $2.5 billion in aggregate principal amount of senior unsecured notes comprising $500 million of 4.0% notes due in 2025, $750 million of 5.0% notes due in 2035 and $1.25 billion of 5.2% notes due in 2045. In September 2013 we issued $4.5 billion in aggregate principal amount of senior unsecured notes comprising $1.5 billion of 3.5% notes due in 2018, $1.5 billion of 4.875% notes due in 2023 and $1.5 billion of 6.25% notes due in 2043. These notes contain terms and covenants customary of these types of securities including limitations on the amount of certain secured debt we may issue. | |||||||||||||||||
Extinguishment of Debt | |||||||||||||||||
In the year ended December 31, 2014 we prepaid and retired debt obligations with a total carrying amount of $325 million and recorded a net gain on extinguishment of debt of $202 million which primarily represented unsecured debt in Brazil. In the year ended December 31, 2013 we prepaid and retired debt obligations with a total carrying amount of $1.8 billion and recorded a net loss on extinguishment of debt of $212 million which primarily represented the unamortized debt discount on GM Korea mandatorily redeemable preferred shares. In the year ended December 31, 2012 we prepaid and retired debt obligations with a total carrying amount of $514 million and recorded a net loss on extinguishment of debt of $250 million which primarily represented the unamortized debt discount on GM Korea mandatorily redeemable preferred shares. | |||||||||||||||||
Automotive Financing - GM Financial | |||||||||||||||||
The following table summarizes the carrying amount and fair value of debt (dollars in millions): | |||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | ||||||||||||||
Secured debt | $ | 25,214 | $ | 25,228 | $ | 22,073 | $ | 22,170 | |||||||||
Unsecured debt | 12,217 | 12,479 | 6,973 | 7,078 | |||||||||||||
Total GM Financial debt | $ | 37,431 | $ | 37,707 | $ | 29,046 | $ | 29,248 | |||||||||
The fair value of debt includes $32.8 billion and $23.0 billion measured utilizing Level 2 inputs and $4.9 billion and $6.2 billion measured utilizing Level 3 inputs at December 31, 2014 and December 31, 2013. The fair value of debt measured utilizing Level 2 inputs was based on quoted market prices and if unavailable, quoted market prices of similar securities. For debt that has terms of one year or less or has been priced within the last six months, the carrying amount or par value is considered to be a reasonable estimate of fair value. The fair value of debt measured utilizing Level 3 inputs was based on the discounted future net cash flows expected to be settled using current risk-adjusted rates. | |||||||||||||||||
Secured Debt | |||||||||||||||||
Most of the secured debt was issued by VIEs and is repayable only from proceeds related to the underlying pledged finance receivables and leases. Refer to Note 12 for additional information relating to GM Financial's involvement with VIEs. Secured debt consists of revolving credit facilities and securitization notes payable. Weighted-average interest rates are both fixed and variable, ranging from 0.35% to 13.43% at December 31, 2014. | |||||||||||||||||
The revolving credit facilities are expected to be repaid over periods ranging up to five years. At the end of the revolving period, if not renewed, the debt will amortize over a defined period. GM Financial is required to hold certain funds in restricted cash accounts to provide additional collateral for borrowings under certain secured credit facilities. In the year ended December 31, 2014 GM Financial entered into new or renewed credit facilities with a total additional borrowing capacity of $5.5 billion. | |||||||||||||||||
Securitization notes payable at December 31, 2014 are due beginning in 2016 through 2022. In the year ended December 31, 2014 GM Financial issued securitization notes payable of $10.7 billion with a weighted-average interest rate of 1.4% maturing on various dates through 2022. | |||||||||||||||||
Unsecured Debt | |||||||||||||||||
Unsecured debt consists of senior notes, credit facilities and other unsecured debt. Senior notes outstanding at December 31, 2014 are due beginning in 2016 through 2023 and have interest rates that range from 1.875% to 6.75%. In May 2014 GM Financial issued CAD 400 million of 3.25% senior notes which are due in May 2017. In July 2014 GM Financial issued $1.5 billion in aggregate principal amount of senior notes comprising $700 million of 2.625% notes due in July 2017 and $800 million of 3.5% notes due in July 2019. In September 2014 GM Financial issued $2.0 billion in aggregate principal amount of senior notes comprising $750 million of 3.0% notes due in September 2017 and $1.25 billion of 4.375% notes due in September 2021. In October 2014 GM Financial issued Euro 500 million of 1.875% term notes which are due in October 2019. The notes are guaranteed by GM Financial's principal operating subsidiary. | |||||||||||||||||
In January 2015 GM Financial issued $2.25 billion in aggregate principal amount of senior notes comprising $1.0 billion of 3.15% notes due in January 2020, $1.0 billion of 4.0% notes due in January 2025 and $250 million of floating rate notes due in January 2020. Interest rates on the floating rate notes are equal to three-month LIBOR plus an applicable margin. The notes are guaranteed by GM Financial's principal operating subsidiary. | |||||||||||||||||
The terms of advances on revolving credit facilities and other unsecured debt have remaining maturities of up to five years. Interest rates on credit facilities and other unsecured debt ranged from 0.98% to 13.35% at December 31, 2014. | |||||||||||||||||
Consolidated | |||||||||||||||||
Interest Expense | |||||||||||||||||
The following table summarizes interest expense (dollars in millions): | |||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Automotive | $ | 403 | $ | 334 | $ | 489 | |||||||||||
Automotive Financing - GM Financial | 1,426 | 715 | 283 | ||||||||||||||
Total interest expense | $ | 1,829 | $ | 1,049 | $ | 772 | |||||||||||
Debt Maturities | |||||||||||||||||
The following table summarizes contractual maturities including capital leases at December 31, 2014 (dollars in millions): | |||||||||||||||||
Automotive | Automotive Financing(a) | Total | |||||||||||||||
2015 | $ | 503 | $ | 14,491 | $ | 14,994 | |||||||||||
2016 | 174 | 9,177 | 9,351 | ||||||||||||||
2017 | 511 | 7,255 | 7,766 | ||||||||||||||
2018 | 1,600 | 2,666 | 4,266 | ||||||||||||||
2019 | 109 | 1,860 | 1,969 | ||||||||||||||
Thereafter | 7,194 | 2,000 | 9,194 | ||||||||||||||
$ | 10,091 | $ | 37,449 | $ | 47,540 | ||||||||||||
________ | |||||||||||||||||
(a) | Secured debt, credit facilities and other unsecured debt are based on expected payoff date. Senior notes principal amounts are based on maturity. | ||||||||||||||||
At December 31, 2014 future interest payments on automotive capital lease obligations were $488 million. GM Financial had no capital lease obligations at December 31, 2014. | |||||||||||||||||
Compliance with Debt Covenants | |||||||||||||||||
Several of our loan facilities, including our revolving credit facilities, require compliance with certain financial and operational covenants as well as regular reporting to lenders, including providing certain subsidiary financial statements. Some of GM Financial’s secured and unsecured debt agreements also contain various covenants, including maintaining minimum financial ratios, asset quality and portfolio performance ratios as well as limits on deferment levels. Failure to meet certain of these requirements may result in a covenant violation or an event of default depending on the terms of the agreement. An event of default may allow lenders to declare amounts outstanding under these agreements immediately due and payable, to enforce their interests against collateral pledged under these agreements or restrict our ability or GM Financial's ability to obtain additional borrowings. No technical defaults or covenant violations existed at December 31, 2014. |
Pensions_And_Other_Postretirem
Pensions And Other Postretirement Benefits | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Compensation and Retirement Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||
Pensions and Other Postretirement Benefits [Text Block] | Pensions and Other Postretirement Benefits | |||||||||||||||||||||||||||||||||||||||||||||||
Employee Pension and Other Postretirement Benefit Plans | ||||||||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Pension Plans | ||||||||||||||||||||||||||||||||||||||||||||||||
Defined benefit pension plans covering eligible U.S. hourly employees (hired prior to October 2007) and Canadian hourly employees generally provide benefits of negotiated, stated amounts for each year of service and supplemental benefits for employees who retire with 30 years of service before normal retirement age. The benefits provided by the defined benefit pension plans covering eligible U.S. (hired prior to January 1, 2001) and Canadian salaried employees and employees in certain other non-U.S. locations are generally based on years of service and compensation history. Accrual of defined pension benefits ceased on September 30, 2012 for U.S. salaried employees and on December 31, 2012 for Canadian salaried employees. There is also an unfunded nonqualified pension plan covering primarily U.S. executives for service prior to January 1, 2007 and it is based on an “excess plan” for service after that date. | ||||||||||||||||||||||||||||||||||||||||||||||||
The funding policy for qualified defined benefit pension plans is to contribute annually not less than the minimum required by applicable law and regulations or to directly pay benefit payments where appropriate. At December 31, 2014 all legal funding requirements had been met. We expect to contribute $70 million to our U.S. non-qualified plans and $1.1 billion to our non-U.S. pension plans in 2015. The following table summarizes contributions made to the defined benefit pension plans (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
U.S. hourly and salaried | $ | 143 | $ | 128 | $ | 2,420 | ||||||||||||||||||||||||||||||||||||||||||
Non-U.S. | 770 | 886 | 855 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 913 | $ | 1,014 | $ | 3,275 | ||||||||||||||||||||||||||||||||||||||||||
We continue to pursue various options to fund and derisk our pension plans, including continued changes to the pension asset portfolio mix to reduce funded status volatility. | ||||||||||||||||||||||||||||||||||||||||||||||||
Other Postretirement Benefit Plans | ||||||||||||||||||||||||||||||||||||||||||||||||
Certain hourly and salaried defined benefit plans provide postretirement medical, dental, legal service and life insurance to eligible U.S. and Canadian retirees and their eligible dependents. Certain other non-U.S. subsidiaries have postretirement benefit plans, although most non-U.S. employees are covered by government sponsored or administered programs. | ||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes contributions to the U.S. OPEB plans (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Employer contributions | $ | 354 | $ | 393 | $ | 432 | ||||||||||||||||||||||||||||||||||||||||||
Plan participants' contributions | 22 | 29 | 4 | |||||||||||||||||||||||||||||||||||||||||||||
Total contributions | $ | 376 | $ | 422 | $ | 436 | ||||||||||||||||||||||||||||||||||||||||||
Defined Contribution Plans | ||||||||||||||||||||||||||||||||||||||||||||||||
We have defined contribution plans for eligible U.S. salaried and hourly employees that provide discretionary matching contributions. Contributions are also made to certain non-U.S. defined contribution plans. We made contributions to our defined contribution plans of $513 million, $502 million and $352 million in the years ended December 31, 2014, 2013 and 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||
Significant Plan Amendments, Benefit Modifications and Related Events | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Salaried Defined Benefit Life Insurance Plan | ||||||||||||||||||||||||||||||||||||||||||||||||
In September 2013 we amended the U.S. salaried life insurance plan effective January 1, 2014 to eliminate benefits for retirees and eligible employees retiring on or after August 1, 2009. The remeasurement, settlement and curtailment resulted in a decrease in the OPEB liability of $319 million, a decrease in the net pre-tax actuarial loss component of Accumulated other comprehensive loss of $236 million and a pre-tax gain of $83 million. | ||||||||||||||||||||||||||||||||||||||||||||||||
U.S. Salaried Defined Benefit Pension Plan | ||||||||||||||||||||||||||||||||||||||||||||||||
In the year ended December 31, 2012 we amended the salaried pension plan to cease the accrual of additional benefits effective September 30, 2012 resulting in a curtailment of $309 million which decreased the pension liability. We divided the plan to create a new legally separate defined benefit plan primarily for active and terminated vested participants. Settlement payments of $30.6 billion were made consisting of lump-sum pension distributions of $3.6 billion to retired salaried plan participants, group annuity contracts purchased for a total annuity premium of $25.1 billion and two separate previously guaranteed obligations of $1.9 billion were settled. These agreements unconditionally and irrevocably guarantee the full payment of all annuity payments to the participants that were receiving payments from the plan and the insurance companies assumed all investment risk associated with the assets that were delivered as the annuity contract premiums. | ||||||||||||||||||||||||||||||||||||||||||||||||
Through these transactions we have settled certain pension obligations in their entirety resulting in a pre-tax settlement loss of $2.6 billion ($2.2 billion after tax) in Automotive cost of sales. The pre-tax loss is composed of existing losses in Accumulated other comprehensive loss of $377 million and the premium paid to the insurance company of $2.1 billion. The tax benefit of $413 million is composed of the statutory tax benefit of $1.0 billion offset by tax expense of $596 million primarily associated with the removal of prior period income tax allocations between Accumulated other comprehensive loss and Income tax expense (benefit). | ||||||||||||||||||||||||||||||||||||||||||||||||
In the year ended December 31, 2012 we provided short-term, interest-free, unsecured loans of $2.2 billion to provide the plan with incremental liquidity to pay ongoing benefits and administrative costs. Through December 31, 2013 contributions of $1.7 billion were made from the $2.2 billion loans and the remaining amounts were repaid. | ||||||||||||||||||||||||||||||||||||||||||||||||
Active salaried plan participants began receiving additional contributions in the defined contribution plan in October 2012. Lump-sum pension distributions in 2013 of $430 million resulted in a pre-tax settlement gain of $128 million. | ||||||||||||||||||||||||||||||||||||||||||||||||
Other Remeasurements | ||||||||||||||||||||||||||||||||||||||||||||||||
In the three months ended December 31, 2014 the SOA issued new mortality and mortality improvement tables that raise life expectancies and thereby indicate the amount of estimated aggregate benefit payments to our U.S. pension plans' participants is increasing. We have incorporated the new SOA mortality and mortality improvement tables into our December 31, 2014 measurement of our U.S. pension plans' benefit obligations. The change in these assumptions had the effect of increasing the December 31, 2014 U.S. pension plans' obligations by $2.2 billion. | ||||||||||||||||||||||||||||||||||||||||||||||||
In September 2011 a plan which provided legal services to U.S. hourly employees and retirees was remeasured as a result of our labor agreement provisions which terminated the plan effective December 31, 2013. The negotiated termination has been accounted for as a negative plan amendment resulting in a decrease in the OPEB liability and a pre-tax increase of $266 million in the prior service credit component of Accumulated other comprehensive loss was amortized through December 31, 2013. | ||||||||||||||||||||||||||||||||||||||||||||||||
In March 2012 certain pension plans in GME were remeasured as part of our goodwill impairment testing, resulting in an increase of $150 million in the pension liability and a pre-tax increase in the net actuarial loss component of Accumulated other comprehensive loss. | ||||||||||||||||||||||||||||||||||||||||||||||||
Pension and OPEB Obligations and Plan Assets | ||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes the change in benefit obligations and related plan assets (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | |||||||||||||||||||||||||||||||||||||||||
Change in benefit obligations | ||||||||||||||||||||||||||||||||||||||||||||||||
Beginning benefit obligation | $ | 71,480 | $ | 27,528 | $ | 5,110 | $ | 1,238 | $ | 82,110 | $ | 29,301 | $ | 6,271 | $ | 1,528 | ||||||||||||||||||||||||||||||||
Service cost | 247 | 358 | 13 | 10 | 298 | 394 | 24 | 13 | ||||||||||||||||||||||||||||||||||||||||
Interest cost | 3,060 | 1,031 | 218 | 55 | 2,837 | 1,010 | 217 | 57 | ||||||||||||||||||||||||||||||||||||||||
Amendments | — | 17 | — | — | — | (4 | ) | — | (4 | ) | ||||||||||||||||||||||||||||||||||||||
Actuarial (gains) losses | 7,770 | 3,179 | 331 | 117 | (7,661 | ) | (1,009 | ) | (757 | ) | (210 | ) | ||||||||||||||||||||||||||||||||||||
Benefits paid | (5,779 | ) | (1,699 | ) | (376 | ) | (50 | ) | (5,719 | ) | (1,683 | ) | (422 | ) | (53 | ) | ||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | — | (2,536 | ) | — | (108 | ) | — | (528 | ) | — | (98 | ) | ||||||||||||||||||||||||||||||||||||
Curtailments, settlements and other | (54 | ) | 19 | (7 | ) | 74 | (385 | ) | 47 | (223 | ) | 5 | ||||||||||||||||||||||||||||||||||||
Ending benefit obligation | 76,724 | 27,897 | 5,289 | 1,336 | 71,480 | 27,528 | 5,110 | 1,238 | ||||||||||||||||||||||||||||||||||||||||
Change in plan assets | ||||||||||||||||||||||||||||||||||||||||||||||||
Beginning fair value of plan assets | 64,166 | 14,986 | — | — | 68,085 | 15,541 | — | — | ||||||||||||||||||||||||||||||||||||||||
Actual return on plan assets | 7,346 | 1,893 | — | — | 2,107 | 988 | — | — | ||||||||||||||||||||||||||||||||||||||||
Employer contributions | 143 | 770 | 354 | 48 | 128 | 886 | 393 | 51 | ||||||||||||||||||||||||||||||||||||||||
Benefits paid | (5,779 | ) | (1,699 | ) | (376 | ) | (50 | ) | (5,719 | ) | (1,683 | ) | (422 | ) | (53 | ) | ||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | — | (1,232 | ) | — | — | — | (692 | ) | — | — | ||||||||||||||||||||||||||||||||||||||
Settlements and other | (53 | ) | (49 | ) | 22 | 2 | (435 | ) | (54 | ) | 29 | 2 | ||||||||||||||||||||||||||||||||||||
Ending fair value of plan assets | 65,823 | 14,669 | — | — | 64,166 | 14,986 | — | — | ||||||||||||||||||||||||||||||||||||||||
Ending funded status | $ | (10,901 | ) | $ | (13,228 | ) | $ | (5,289 | ) | $ | (1,336 | ) | $ | (7,314 | ) | $ | (12,542 | ) | $ | (5,110 | ) | $ | (1,238 | ) | ||||||||||||||||||||||||
Amounts recorded in the consolidated balance sheets | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-current assets | $ | — | $ | 111 | $ | — | $ | — | $ | — | $ | 137 | $ | — | $ | — | ||||||||||||||||||||||||||||||||
Current liabilities | (69 | ) | (383 | ) | (338 | ) | (58 | ) | (131 | ) | (379 | ) | (368 | ) | (83 | ) | ||||||||||||||||||||||||||||||||
Non-current liabilities | (10,832 | ) | (12,956 | ) | (4,951 | ) | (1,278 | ) | (7,183 | ) | (12,300 | ) | (4,742 | ) | (1,155 | ) | ||||||||||||||||||||||||||||||||
Net amount recorded | $ | (10,901 | ) | $ | (13,228 | ) | $ | (5,289 | ) | $ | (1,336 | ) | $ | (7,314 | ) | $ | (12,542 | ) | $ | (5,110 | ) | $ | (1,238 | ) | ||||||||||||||||||||||||
Amounts recorded in Accumulated other comprehensive loss | ||||||||||||||||||||||||||||||||||||||||||||||||
Net actuarial gain (loss) | $ | 452 | $ | (5,019 | ) | $ | (859 | ) | $ | (83 | ) | $ | 4,747 | $ | (3,379 | ) | $ | (542 | ) | $ | 47 | |||||||||||||||||||||||||||
Net prior service (cost) credit | 35 | (57 | ) | 16 | 72 | 38 | (87 | ) | 19 | 91 | ||||||||||||||||||||||||||||||||||||||
Total recorded in Accumulated other comprehensive loss | $ | 487 | $ | (5,076 | ) | $ | (843 | ) | $ | (11 | ) | $ | 4,785 | $ | (3,466 | ) | $ | (523 | ) | $ | 138 | |||||||||||||||||||||||||||
The following table summarizes the total accumulated benefit obligations (ABO), the fair value of plan assets for defined benefit pension plans with ABO in excess of plan assets, and the projected benefit obligation (PBO) and fair value of plan assets for defined benefit pension plans with PBO in excess of plan assets (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | |||||||||||||||||||||||||||||||||||||||||||||
ABO | $ | 76,702 | $ | 27,425 | $ | 71,461 | $ | 27,069 | ||||||||||||||||||||||||||||||||||||||||
Plans with ABO in excess of plan assets | ||||||||||||||||||||||||||||||||||||||||||||||||
ABO | $ | 76,702 | $ | 26,510 | $ | 71,461 | $ | 25,897 | ||||||||||||||||||||||||||||||||||||||||
Fair value of plan assets | $ | 65,823 | $ | 13,638 | $ | 64,166 | $ | 13,663 | ||||||||||||||||||||||||||||||||||||||||
Plans with PBO in excess of plan assets | ||||||||||||||||||||||||||||||||||||||||||||||||
PBO | $ | 76,724 | $ | 26,935 | $ | 71,480 | $ | 26,788 | ||||||||||||||||||||||||||||||||||||||||
Fair value of plan assets | $ | 65,823 | $ | 13,643 | $ | 64,166 | $ | 14,109 | ||||||||||||||||||||||||||||||||||||||||
The following table summarizes the components of net periodic pension and OPEB expense along with the assumptions used to determine benefit obligations (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Year Ended December 31, 2013 | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | |||||||||||||||||||||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | |||||||||||||||||||||||||||||||||||||
Components of expense | ||||||||||||||||||||||||||||||||||||||||||||||||
Service cost | $ | 380 | $ | 389 | $ | 13 | $ | 10 | $ | 395 | $ | 425 | $ | 24 | $ | 13 | $ | 590 | $ | 411 | $ | 23 | $ | 16 | ||||||||||||||||||||||||
Interest cost | 3,060 | 1,031 | 218 | 55 | 2,837 | 1,010 | 217 | 57 | 4,055 | 1,110 | 234 | 63 | ||||||||||||||||||||||||||||||||||||
Expected return on plan assets | (3,914 | ) | (873 | ) | — | — | (3,562 | ) | (823 | ) | — | — | (5,029 | ) | (870 | ) | — | — | ||||||||||||||||||||||||||||||
Amortization of prior service cost (credit) | (4 | ) | 17 | (2 | ) | (14 | ) | (4 | ) | 19 | (116 | ) | (14 | ) | (1 | ) | 1 | (116 | ) | (12 | ) | |||||||||||||||||||||||||||
Recognized net actuarial loss | (91 | ) | 154 | 14 | (6 | ) | 6 | 208 | 85 | 6 | 2 | 35 | 52 | 6 | ||||||||||||||||||||||||||||||||||
Curtailments, settlements and other | (1 | ) | 3 | — | — | (77 | ) | (6 | ) | (62 | ) | — | 2,580 | 71 | — | 11 | ||||||||||||||||||||||||||||||||
Net periodic expense (income) | $ | (570 | ) | $ | 721 | $ | 243 | $ | 45 | $ | (405 | ) | $ | 833 | $ | 148 | $ | 62 | $ | 2,197 | $ | 758 | $ | 193 | $ | 84 | ||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations | ||||||||||||||||||||||||||||||||||||||||||||||||
Discount rate | 3.73 | % | 3.14 | % | 3.8 | % | 3.99 | % | 4.46 | % | 4.1 | % | 4.52 | % | 4.71 | % | 3.59 | % | 3.7 | % | 3.68 | % | 3.97 | % | ||||||||||||||||||||||||
Rate of compensation increase(a) | N/A | 2.85 | % | N/A | 4.21 | % | N/A | 2.9 | % | N/A | 4.21 | % | N/A | 2.77 | % | 4.5 | % | 4.21 | % | |||||||||||||||||||||||||||||
Weighted-average assumptions used to determine net expense | ||||||||||||||||||||||||||||||||||||||||||||||||
Discount rate | 4.46 | % | 4.1 | % | 4.52 | % | 4.71 | % | 3.59 | % | 3.69 | % | 3.69 | % | 3.97 | % | 4.06 | % | 4.45 | % | 4.24 | % | 4.31 | % | ||||||||||||||||||||||||
Expected rate of return on plan assets | 6.53 | % | 6.28 | % | N/A | N/A | 5.77 | % | 5.7 | % | N/A | N/A | 6.18 | % | 6.2 | % | N/A | N/A | ||||||||||||||||||||||||||||||
Rate of compensation increase(a) | N/A | 2.9 | % | N/A | 4.21 | % | N/A | 2.77 | % | 4.5 | % | 4.21 | % | 4.5 | % | 3.15 | % | 4.5 | % | 4.21 | % | |||||||||||||||||||||||||||
_________ | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) | As a result of ceasing the accrual of additional benefits for salaried plan participants, the rate of compensation increase does not have a significant effect on our U.S. pension and OPEB plans. | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. pension plan service cost includes administrative expenses of $133 million, $97 million and $138 million in the years ended December 31, 2014, 2013 and 2012. Weighted-average assumptions used to determine net expense are determined at the beginning of the period and updated for remeasurements. Non-U.S. pension plan administrative expenses included in service cost were insignificant in the years ended December 31, 2014, 2013 and 2012. | ||||||||||||||||||||||||||||||||||||||||||||||||
Estimated amounts to be amortized from Accumulated other comprehensive loss into net periodic benefit cost in the year ending December 31, 2015 based on December 31, 2014 plan measurements are $295 million, consisting primarily of amortization of the net actuarial loss in the non-U.S. pension plans. | ||||||||||||||||||||||||||||||||||||||||||||||||
Assumptions | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment Strategies and Long-Term Rate of Return | ||||||||||||||||||||||||||||||||||||||||||||||||
Detailed periodic studies conducted by outside actuaries and an internal asset management group are used to determine the long-term strategic mix among asset classes, risk mitigation strategies and the expected long-term return on asset assumptions for the U.S. pension plans. The U.S. study includes a review of alternative asset allocation and risk mitigation strategies, anticipated future long-term performance and risk of the individual asset classes that comprise the plans' asset mix. Similar studies are performed for the significant non-U.S. pension plans with the assistance of outside actuaries and asset managers. While the studies incorporate data from recent plan performance and historical returns, the expected long-term return on plan asset assumptions are determined based on long-term prospective rates of return. | ||||||||||||||||||||||||||||||||||||||||||||||||
The strategic asset mix and risk mitigation strategies for the plans are tailored specifically for each plan. Individual plans have distinct liabilities, liquidity needs and regulatory requirements. Consequently there are different investment policies set by individual plan fiduciaries. Although investment policies and risk mitigation strategies may differ among plans, each investment strategy is considered to be appropriate in the context of the specific factors affecting each plan. | ||||||||||||||||||||||||||||||||||||||||||||||||
In setting new strategic asset mixes, consideration is given to the likelihood that the selected mixes will effectively fund the projected pension plan liabilities, while aligning with the risk tolerance of the plans' fiduciaries. The strategic asset mixes for U.S. defined benefit pension plans are increasingly designed to satisfy the competing objectives of improving funded positions (market value of assets equal to or greater than the present value of the liabilities) and mitigating the possibility of a deterioration in funded status. | ||||||||||||||||||||||||||||||||||||||||||||||||
Derivatives may be used to provide cost effective solutions for rebalancing investment portfolios, increasing or decreasing exposure to various asset classes and for mitigating risks, primarily interest rate and currency risks. Equity and fixed income managers are permitted to utilize derivatives as efficient substitutes for traditional physical securities. Interest rate derivatives may be used to adjust portfolio duration to align with a plan's targeted investment policy. Alternative investment managers are permitted to employ leverage, including through the use of derivatives, which may alter economic exposure. | ||||||||||||||||||||||||||||||||||||||||||||||||
In December 2014 an investment policy study was completed for the U.S. pension plans. The study resulted in new target asset allocations being approved for the U.S. pension plans with resulting changes to the expected long-term rate of return on assets. The weighted-average long-term rate of return on assets decreased from 6.5% at December 31, 2013 to 6.4% at December 31, 2014. The expected long-term rate of return on plan assets used in determining pension expense for non-U.S. plans is determined in a similar manner to the U.S. plans. | ||||||||||||||||||||||||||||||||||||||||||||||||
Target Allocation Percentages | ||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes the target allocations by asset category for U.S. and non-U.S. defined benefit pension plans: | ||||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | |||||||||||||||||||||||||||||||||||||||||||||
Equity | 16 | % | 27 | % | 19 | % | 28 | % | ||||||||||||||||||||||||||||||||||||||||
Debt | 60 | % | 47 | % | 58 | % | 49 | % | ||||||||||||||||||||||||||||||||||||||||
Other(a) | 24 | % | 26 | % | 23 | % | 23 | % | ||||||||||||||||||||||||||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||||||||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Primarily includes private equity, real estate and absolute return strategies which mainly consist of hedge funds. | |||||||||||||||||||||||||||||||||||||||||||||||
Assets and Fair Value Measurements | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the fair value of U.S. defined benefit pension plan assets by asset class (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash equivalents and other short-term investments | $ | — | $ | 42 | $ | — | $ | 42 | $ | — | $ | 411 | $ | — | $ | 411 | ||||||||||||||||||||||||||||||||
Common and preferred stocks | 10,033 | 30 | 3 | 10,066 | 10,234 | 70 | 6 | 10,310 | ||||||||||||||||||||||||||||||||||||||||
Government and agency debt securities(a) | — | 16,143 | — | 16,143 | — | 14,971 | — | 14,971 | ||||||||||||||||||||||||||||||||||||||||
Corporate and other debt securities(b) | — | 22,725 | 83 | 22,808 | — | 20,647 | 130 | 20,777 | ||||||||||||||||||||||||||||||||||||||||
Investment funds(c) | 70 | 910 | 5,221 | 6,201 | 99 | 1,018 | 5,174 | 6,291 | ||||||||||||||||||||||||||||||||||||||||
Private equity and debt investments(d) | — | — | 5,909 | 5,909 | — | — | 6,335 | 6,335 | ||||||||||||||||||||||||||||||||||||||||
Real estate investments(e) | 560 | 2 | 3,608 | 4,170 | 390 | 4 | 4,127 | 4,521 | ||||||||||||||||||||||||||||||||||||||||
Other investments | — | — | 65 | 65 | — | — | 62 | 62 | ||||||||||||||||||||||||||||||||||||||||
Derivative assets | 55 | 313 | 1 | 369 | 17 | 157 | — | 174 | ||||||||||||||||||||||||||||||||||||||||
Total assets | 10,718 | 40,165 | 14,890 | 65,773 | 10,740 | 37,278 | 15,834 | 63,852 | ||||||||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | (23 | ) | (496 | ) | — | (519 | ) | (22 | ) | (311 | ) | (6 | ) | (339 | ) | |||||||||||||||||||||||||||||||||
Net plan assets subject to leveling | $ | 10,695 | $ | 39,669 | $ | 14,890 | 65,254 | $ | 10,718 | $ | 36,967 | $ | 15,828 | 63,513 | ||||||||||||||||||||||||||||||||||
Other plan assets and liabilities(f) | 569 | 653 | ||||||||||||||||||||||||||||||||||||||||||||||
Net Plan Assets | $ | 65,823 | $ | 64,166 | ||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the fair value of non-U.S. defined benefit pension plan assets by asset class (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash equivalents and other short-term investments | $ | — | $ | 207 | $ | — | $ | 207 | $ | — | $ | 156 | $ | — | $ | 156 | ||||||||||||||||||||||||||||||||
Common and preferred stocks | 1,959 | 3 | — | 1,962 | 1,816 | 6 | — | 1,822 | ||||||||||||||||||||||||||||||||||||||||
Government and agency debt securities(a) | — | 3,614 | — | 3,614 | — | 3,418 | — | 3,418 | ||||||||||||||||||||||||||||||||||||||||
Corporate and other debt securities(b) | — | 1,986 | — | 1,986 | — | 2,475 | 14 | 2,489 | ||||||||||||||||||||||||||||||||||||||||
Investment funds(c) | 101 | 3,409 | 889 | 4,399 | 128 | 3,529 | 745 | 4,402 | ||||||||||||||||||||||||||||||||||||||||
Private equity and debt investments(d) | — | — | 509 | 509 | — | — | 430 | 430 | ||||||||||||||||||||||||||||||||||||||||
Real estate investments(e) | 20 | 4 | 1,263 | 1,287 | 13 | 12 | 1,405 | 1,430 | ||||||||||||||||||||||||||||||||||||||||
Other investments | — | — | 722 | 722 | — | — | 618 | 618 | ||||||||||||||||||||||||||||||||||||||||
Derivative assets | 17 | 24 | — | 41 | 3 | 44 | — | 47 | ||||||||||||||||||||||||||||||||||||||||
Total assets | 2,097 | 9,247 | 3,383 | 14,727 | 1,960 | 9,640 | 3,212 | 14,812 | ||||||||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | — | (44 | ) | — | (44 | ) | (12 | ) | (56 | ) | — | (68 | ) | |||||||||||||||||||||||||||||||||||
Net plan assets subject to leveling | $ | 2,097 | $ | 9,203 | $ | 3,383 | 14,683 | $ | 1,948 | $ | 9,584 | $ | 3,212 | 14,744 | ||||||||||||||||||||||||||||||||||
Other plan assets and liabilities(f) | (14 | ) | 242 | |||||||||||||||||||||||||||||||||||||||||||||
Net Plan Assets | $ | 14,669 | $ | 14,986 | ||||||||||||||||||||||||||||||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Includes U.S. and sovereign government and agency issues. | |||||||||||||||||||||||||||||||||||||||||||||||
(b) | Includes mortgage and asset-backed securities. | |||||||||||||||||||||||||||||||||||||||||||||||
(c) | U.S. and non-U.S. Level 3 assets consist primarily of funds of hedge funds. Non-U.S. Level 2 assets consist primarily of equity and fixed income funds. | |||||||||||||||||||||||||||||||||||||||||||||||
(d) | Includes private equity investment funds. | |||||||||||||||||||||||||||||||||||||||||||||||
(e) | Includes investment funds and public real estate investment trusts. | |||||||||||||||||||||||||||||||||||||||||||||||
(f) | Cash held by the plans, net of amounts receivable/payable for unsettled security transactions and payables for investment manager fees, custody fees and other expenses. | |||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the activity for U.S. defined benefit pension plan net assets measured at fair value using Level 3 inputs (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2014 | Net Realized/Unrealized | Purchases, Sales and | Transfers Into/Out of Level 3 | Balance at December 31, 2014 | Change in Unrealized Gains/(Losses) Attributable to Assets Held at | |||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) | Settlements, Net | 31-Dec-14 | ||||||||||||||||||||||||||||||||||||||||||||||
Common and preferred stocks | $ | 6 | $ | 2 | $ | (5 | ) | $ | — | $ | 3 | $ | — | |||||||||||||||||||||||||||||||||||
Corporate and other debt securities | 130 | — | (41 | ) | (6 | ) | 83 | (4 | ) | |||||||||||||||||||||||||||||||||||||||
Investment funds | 5,174 | 231 | (184 | ) | — | 5,221 | 208 | |||||||||||||||||||||||||||||||||||||||||
Private equity and debt investments | 6,335 | 651 | (1,077 | ) | — | 5,909 | 27 | |||||||||||||||||||||||||||||||||||||||||
Real estate investments | 4,127 | 251 | (770 | ) | — | 3,608 | 68 | |||||||||||||||||||||||||||||||||||||||||
Other investments | 62 | 5 | (2 | ) | — | 65 | 5 | |||||||||||||||||||||||||||||||||||||||||
Derivatives, net | (6 | ) | (4 | ) | 11 | — | 1 | — | ||||||||||||||||||||||||||||||||||||||||
Total net assets | $ | 15,828 | $ | 1,136 | $ | (2,068 | ) | $ | (6 | ) | $ | 14,890 | $ | 304 | ||||||||||||||||||||||||||||||||||
Balance at January 1, 2013 | Net Realized/Unrealized | Purchases, Sales and | Transfers Into/Out of Level 3 | Balance at December 31, 2013 | Change in Unrealized Gains/(Losses) Attributable to Assets Held at | |||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) | Settlements, Net | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||
Common and preferred stocks | $ | 19 | $ | 3 | $ | (16 | ) | $ | — | $ | 6 | $ | 1 | |||||||||||||||||||||||||||||||||||
Corporate and other debt securities | 182 | 6 | (58 | ) | — | 130 | (3 | ) | ||||||||||||||||||||||||||||||||||||||||
Investment funds | 4,959 | 552 | (337 | ) | — | 5,174 | 537 | |||||||||||||||||||||||||||||||||||||||||
Private equity and debt investments | 6,400 | 926 | (991 | ) | — | 6,335 | 436 | |||||||||||||||||||||||||||||||||||||||||
Real estate investments | 4,335 | 458 | (666 | ) | — | 4,127 | 190 | |||||||||||||||||||||||||||||||||||||||||
Other investments | 63 | (2 | ) | 1 | — | 62 | (2 | ) | ||||||||||||||||||||||||||||||||||||||||
Derivatives, net | (8 | ) | 2 | — | — | (6 | ) | 1 | ||||||||||||||||||||||||||||||||||||||||
Total net assets | $ | 15,950 | $ | 1,945 | $ | (2,067 | ) | $ | — | $ | 15,828 | $ | 1,160 | |||||||||||||||||||||||||||||||||||
The following tables summarize the activity for non-U.S. defined benefit pension plan assets measured at fair value using Level 3 inputs (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2014 | Net Realized/Unrealized | Purchases, Sales and | Transfers Into/Out of Level 3 | Effect of Foreign Currency | Balance at December 31, 2014 | Change in Unrealized Gains/(Losses) Attributable to Assets Held at | ||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) | Settlements, Net | 31-Dec-14 | ||||||||||||||||||||||||||||||||||||||||||||||
Corporate and other debt securities | $ | 14 | $ | — | $ | (13 | ) | $ | — | $ | (1 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||
Investment funds | 745 | 103 | 111 | — | (70 | ) | 889 | 103 | ||||||||||||||||||||||||||||||||||||||||
Private equity and debt investments | 430 | 100 | 20 | — | (41 | ) | 509 | 75 | ||||||||||||||||||||||||||||||||||||||||
Real estate investments | 1,405 | 48 | (84 | ) | — | (106 | ) | 1,263 | 44 | |||||||||||||||||||||||||||||||||||||||
Other investments | 618 | 92 | 72 | — | (60 | ) | 722 | 76 | ||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 3,212 | $ | 343 | $ | 106 | $ | — | $ | (278 | ) | $ | 3,383 | $ | 298 | |||||||||||||||||||||||||||||||||
Balance at January 1, 2013 | Net Realized/Unrealized | Purchases, Sales and | Transfers Into/Out of Level 3 | Effect of Foreign Currency | Balance at December 31, 2013 | Change in Unrealized Gains/(Losses) Attributable to Assets Held at | ||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) | Settlements, Net | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||
Corporate and other debt securities | $ | 5 | $ | 1 | $ | 7 | $ | 1 | $ | — | $ | 14 | $ | 1 | ||||||||||||||||||||||||||||||||||
Investment funds | 641 | 110 | 27 | — | (33 | ) | 745 | 112 | ||||||||||||||||||||||||||||||||||||||||
Private equity and debt investments | 381 | 73 | 3 | — | (27 | ) | 430 | 53 | ||||||||||||||||||||||||||||||||||||||||
Real estate investments | 1,422 | 103 | (57 | ) | — | (63 | ) | 1,405 | 122 | |||||||||||||||||||||||||||||||||||||||
Other investments | 665 | (10 | ) | (43 | ) | — | 6 | 618 | 4 | |||||||||||||||||||||||||||||||||||||||
Total assets | $ | 3,114 | $ | 277 | $ | (63 | ) | $ | 1 | $ | (117 | ) | $ | 3,212 | $ | 292 | ||||||||||||||||||||||||||||||||
Investment Fund Strategies | ||||||||||||||||||||||||||||||||||||||||||||||||
Investment funds consist primarily of equity funds, fixed income funds and funds of hedge funds. Equity funds invest in U.S. common and preferred stocks as well as similar equity securities issued by companies incorporated, listed or domiciled in developed and/or emerging markets countries. Fixed income funds include investments in high quality funds and to a lesser extent, high yield funds. High quality fixed income funds invest in government securities, investment-grade corporate bonds and mortgage and asset-backed securities. High yield fixed income funds invest in high yield fixed income securities issued by corporations which are rated below investment grade. Funds of hedge funds represent funds that invest in a portfolio of hedge funds. Fund managers typically seek to achieve their objectives by allocating capital across a broad array of funds and/or investment managers. Other investment funds also included in this category primarily represent multi-strategy funds that invest in broadly diversified portfolios of equity, fixed income and derivative instruments. | ||||||||||||||||||||||||||||||||||||||||||||||||
Private equity and debt investments principally consist of investments in private equity and debt funds. These investments provide exposure to and benefit from long-term equity investments in private companies, including leveraged buy-outs, venture capital and distressed debt strategies. | ||||||||||||||||||||||||||||||||||||||||||||||||
Real estate investments include funds that invest in entities which are principally engaged in the ownership, acquisition, development, financing, sale and/or management of income-producing real estate properties, both commercial and residential. These funds typically seek long-term growth of capital and current income that is above average relative to public equity funds. | ||||||||||||||||||||||||||||||||||||||||||||||||
Significant Concentrations of Risk | ||||||||||||||||||||||||||||||||||||||||||||||||
The assets of the pension plans include certain private investment funds, private equity and debt securities, real estate investments and derivative instruments. Investment managers may be unable to quickly sell or redeem some or all of these investments at an amount close or equal to fair value in order to meet a plan's liquidity requirements or to respond to specific events such as deterioration in the creditworthiness of any particular issuer or counterparty. | ||||||||||||||||||||||||||||||||||||||||||||||||
Illiquid investments held by the plans are generally long-term investments that complement the long-term nature of pension obligations and are not used to fund benefit payments when currently due. Plan management monitors liquidity risk on an ongoing basis and has procedures in place that are designed to maintain flexibility in addressing plan-specific, broader industry and market liquidity events. | ||||||||||||||||||||||||||||||||||||||||||||||||
The pension plans may invest in financial instruments denominated in foreign currencies and may be exposed to risks that the foreign currency exchange rates might change in a manner that has an adverse effect on the value of the foreign currency denominated assets or liabilities. Forward currency contracts may be used to manage and mitigate foreign currency risk. | ||||||||||||||||||||||||||||||||||||||||||||||||
The pension plans may invest in fixed income securities for which any change in the relevant interest rates for particular securities might result in an investment manager being unable to secure similar returns upon the maturity or the sale of securities. In addition, changes to prevailing interest rates or changes in expectations of future interest rates might result in an increase or decrease in the fair value of the securities held. Interest rate swaps and other financial derivative instruments may be used to manage interest rate risk. | ||||||||||||||||||||||||||||||||||||||||||||||||
Counterparty credit risk is the risk that a counterparty to a financial instrument will default on its commitment. Counterparty risk is primarily related to over-the-counter derivative instruments used to manage risk exposures related to interest rates on long-term debt securities and foreign currency exchange rate fluctuations. The risk of default can be influenced by various factors including macro-economic conditions, market liquidity, fiscal and monetary policies and counterparty-specific characteristics and activities. Certain agreements with counterparties employ set-off, collateral support arrangements and other risk mitigating procedures designed to reduce the net exposure to credit risk in the event of counterparty default. Credit policies and processes are in place to manage concentrations of counterparty risk by seeking to undertake transactions with large well-capitalized counterparties and by monitoring the creditworthiness of these counterparties. The majority of derivatives held by the plans at December 31, 2014 were fully collateralized and therefore, the related counterparty credit risk was significantly reduced. | ||||||||||||||||||||||||||||||||||||||||||||||||
Pension Funding Requirements | ||||||||||||||||||||||||||||||||||||||||||||||||
We are subject to a variety of U.S. federal rules and regulations, including the Employee Retirement Income Security Act of 1974, as amended and the Pension Protection Act of 2006, which govern the manner in which we fund and administer our U.S. pension plans. The Moving Ahead for Progress in the 21st Century Act which expired on September 30, 2014 allowed plan sponsors funding relief for pension plans through the application of higher funding interest rates. The 2014 Highway and Transportation Funding Act extended the application of higher funding interest rates. As a result, utilizing current assumptions we expect no significant mandatory contributions to our U.S. qualified pension plans for the next five years. We have no funding requirements for our U.S. qualified plans in 2015. | ||||||||||||||||||||||||||||||||||||||||||||||||
We also maintain pension plans for employees in a number of countries outside the U.S. which are subject to local laws and regulations. Except for Canada and the United Kingdom, most non-U.S. pension laws and regulations do not have specific funding requirements. | ||||||||||||||||||||||||||||||||||||||||||||||||
Benefit Payments | ||||||||||||||||||||||||||||||||||||||||||||||||
The following table summarizes net benefit payments expected to be paid in the future, which include assumptions related to estimated future employee service (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||||||||||
Pension Benefits(a) | Other Benefits | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | |||||||||||||||||||||||||||||||||||||||||||||
2015 | $ | 5,616 | $ | 1,530 | $ | 344 | $ | 59 | ||||||||||||||||||||||||||||||||||||||||
2016 | $ | 5,572 | $ | 1,570 | $ | 331 | $ | 63 | ||||||||||||||||||||||||||||||||||||||||
2017 | $ | 5,380 | $ | 1,558 | $ | 322 | $ | 61 | ||||||||||||||||||||||||||||||||||||||||
2018 | $ | 5,239 | $ | 1,458 | $ | 313 | $ | 63 | ||||||||||||||||||||||||||||||||||||||||
2019 | $ | 5,128 | $ | 1,448 | $ | 307 | $ | 65 | ||||||||||||||||||||||||||||||||||||||||
2020 - 2024 | $ | 23,754 | $ | 7,136 | $ | 1,470 | $ | 348 | ||||||||||||||||||||||||||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Benefits for most U.S. pension plans and certain non-U.S. pension plans are paid out of plan assets rather than our Cash and cash equivalents. |
Derivative_Financial_Instrumen
Derivative Financial Instruments | 12 Months Ended |
Dec. 31, 2014 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Financial Instruments [Text Block] | Derivative Financial Instruments |
Automotive | |
At December 31, 2014 and 2013 our derivative instruments consisted primarily of options and forward contracts primarily related to foreign currency, none of which were designated as hedging relationships. We had derivative instruments in asset positions with notional amounts of $8.8 billion and $9.3 billion and liability positions with notional amounts of $953 million and $427 million at December 31, 2014 and 2013. The fair value of these derivative instruments was insignificant. | |
Automotive Financing - GM Financial | |
GM Financial had interest rate swaps and caps and foreign currency swaps in asset positions with notional amounts of $5.4 billion and $5.5 billion and liability positions with notional amounts of $8.5 billion and $7.6 billion at December 31, 2014 and 2013. The fair value of these derivative financial instruments was insignificant. |
Commitments_and_Contingencies
Commitments and Contingencies | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||
Commitments and Contingencies [Text Block] | Commitments and Contingencies | |||||||||||||||||||||||
The following tables summarize information related to commitments and contingencies (dollars in millions): | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Liability Recorded | Maximum Liability(a) | Liability Recorded | Maximum Liability(a) | |||||||||||||||||||||
Guarantees | ||||||||||||||||||||||||
Third-party commercial loans and other obligations(b) | $ | 37 | $ | 197 | $ | 51 | $ | 15,616 | ||||||||||||||||
Other product-related claims | $ | 51 | $ | 2,458 | $ | 54 | $ | 1,317 | ||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Calculated as future undiscounted payments. | |||||||||||||||||||||||
(b) | Includes liabilities recorded of $10 million and maximum liabilities of $15.3 billion related to Ally Financial repurchase obligations at December 31, 2013. | |||||||||||||||||||||||
Liability Recorded | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Other litigation-related liability and tax administrative matters | $ | 1,000 | $ | 1,227 | ||||||||||||||||||||
Product liability | $ | 732 | $ | 690 | ||||||||||||||||||||
Ignition switch recall compensation program | $ | 315 | ||||||||||||||||||||||
Credit card programs(a) | ||||||||||||||||||||||||
Redemption liability(b) | $ | 87 | $ | 183 | ||||||||||||||||||||
Deferred revenue(c) | $ | 263 | $ | 295 | ||||||||||||||||||||
Environmental liability | $ | 133 | $ | 154 | ||||||||||||||||||||
Asset retirement obligations | $ | 146 | $ | 159 | ||||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Credit card programs offer rebates that can be applied primarily against the purchase or lease of our vehicles. At December 31, 2014 and 2013 qualified cardholders had rebates available, net of deferred program revenue, of approximately $2.3 billion and $2.6 billion. | |||||||||||||||||||||||
(b) | Recorded in Accrued liabilities. | |||||||||||||||||||||||
(c) | Recorded in Other liabilities. | |||||||||||||||||||||||
Guarantees | ||||||||||||||||||||||||
We provide payment guarantees on commercial loans outstanding with third parties such as dealers or rental car companies. We determined the fair value ascribed to the guarantees at inception and subsequent to inception to be insignificant based on the credit worthiness of the third parties. In March 2014 a new agreement was signed with Ally Financial that removed the repurchase obligation for vehicles invoiced after December 31, 2013. The repurchase obligation for vehicles invoiced prior to December 31, 2013 was maintained until December 31, 2014 at which time repurchase obligations expired for all vehicles. | ||||||||||||||||||||||||
Agreements with third parties that guarantee the fulfillment of certain suppliers' commitments and other obligations expire in 2015 through 2019 or upon the occurrence of specific events or are ongoing. | ||||||||||||||||||||||||
In some instances certain assets of the party whose debt or performance we have guaranteed may offset, to some degree, the cost of the guarantee. The offset of certain of our payables to guaranteed parties may also offset certain guarantees, if triggered. If vehicles are required to be repurchased under vehicle repurchase obligations, the total exposure would be reduced to the extent vehicles are able to be resold to another dealer. | ||||||||||||||||||||||||
In connection with certain divestitures of assets or operating businesses, we have entered into agreements indemnifying certain buyers and other parties with respect to environmental conditions and other closure costs pertaining to real property we owned. We periodically enter into agreements that incorporate indemnification provisions in the normal course of business. It is not possible to estimate our maximum exposure under these indemnifications or guarantees due to the conditional nature of these obligations. Insignificant amounts have been recorded for such obligations as the majority of them are not probable or estimable at this time and the fair value of the guarantees at issuance was insignificant. In addition, we indemnify dealers for certain product liability related claims as subsequently discussed. | ||||||||||||||||||||||||
With respect to other product-related claims involving products manufactured by certain joint ventures, we believe that costs incurred are adequately covered by recorded accruals. These guarantees terminate in years ranging from 2020 to 2029. | ||||||||||||||||||||||||
Other Litigation-Related Liability and Tax Administrative Matters | ||||||||||||||||||||||||
Various legal actions, governmental investigations, claims and proceedings are pending against us including matters arising out of alleged product defects; employment-related matters; governmental regulations relating to safety, emissions and fuel economy; product warranties; financial services; dealer, supplier and other contractual relationships; tax-related matters not recorded pursuant to ASC 740, "Income Taxes" (indirect tax-related matters) and environmental matters. | ||||||||||||||||||||||||
With regard to the litigation matters discussed in the previous paragraph, reserves have been established for matters in which we believe that losses are probable and can be reasonably estimated, the majority of which are associated with indirect tax-related matters as well as non-U.S. labor-related matters. Indirect tax-related matters are being litigated globally pertaining to value added taxes, customs, duties, sales, property taxes and other non-income tax related tax exposures. The various non-U.S. labor-related matters include claims from current and former employees related to alleged unpaid wage, benefit, severance and other compensation matters. Certain South American administrative proceedings are indirect tax-related and may require that we deposit funds in escrow. Escrow deposits may range from $500 million to $700 million. Some of the matters may involve compensatory, punitive or other treble damage claims, environmental remediation programs or sanctions that, if granted, could require us to pay damages or make other expenditures in amounts that could not be reasonably estimated at December 31, 2014. We believe that appropriate accruals have been established for such matters based on information currently available. Reserves for litigation losses are recorded in Accrued liabilities and Other liabilities. Litigation is inherently unpredictable however; and unfavorable resolutions could occur. Accordingly it is possible that an adverse outcome from such proceedings could exceed the amounts accrued in an amount that could be material to our financial condition, results of operations and cash flows in any particular reporting period. | ||||||||||||||||||||||||
Proceedings Related to Ignition Switch and Other Recalls | ||||||||||||||||||||||||
In the three months ended March 31, 2014 we announced recalls to repair ignition switches that under certain circumstances could unintentionally move from the “run” position to the “accessory” or “off” position with a corresponding loss of power, which in turn may prevent airbags from deploying in the event of a crash. Those recalls included Chevrolet Cobalt and HHR, Pontiac G5, Pursuit and Solstice and Saturn ION and Sky vehicles. Since those recalls, we have announced a number of additional recalls in the year ended December 31, 2014 relating to safety, customer satisfaction and other matters. | ||||||||||||||||||||||||
Through January 30, 2015 we are aware of 108 putative class actions that are pending against GM in various U.S. District Courts and state courts alleging that consumers who purchased or leased GM vehicles have been economically harmed by one or more of the recalls announced this year and/or the underlying vehicle conditions associated with those recalls (economic-loss cases). Additionally, through January 30, 2015, 20 putative class actions have been filed in various Provincial Courts in Canada seeking similar relief as the U.S.-based cases. In the aggregate, these economic-loss cases seek recovery for purported compensatory damages, including alleged diminution in value of the vehicles, punitive damages, and injunctive and other relief. In addition through January 30, 2015, we are aware of 104 actions pending against GM alleging injury or death as a result of defects that may be the subject of recalls announced in the year ended December 31, 2014, including faulty ignition switches and/or the failure of air bags to properly deploy due to faulty ignition switches (personal injury cases). In the aggregate these personal injury cases seek recovery for purported compensatory damages, punitive damages and other relief. | ||||||||||||||||||||||||
Since June 2014 the United States Judicial Panel on Multidistrict Litigation has issued orders from time to time directing that certain pending economic-loss and personal injury federal lawsuits involving alleged faulty ignition switches or other defects that may be related to the recalls announced in 2014 be transferred to, and consolidated in, a single federal court, the Southern District of New York (the multidistrict litigation). Through January 30, 2015, 156 cases have been transferred and consolidated as part of the multidistrict litigation. We have requested that various other recently filed federal lawsuits also be transferred and consolidated in the multidistrict litigation. The court in the multidistrict litigation has appointed lead counsel to prosecute the claims on behalf of all plaintiffs in the consolidated cases. On October 14, 2014 lead counsel filed two amended consolidated complaints. Because the majority of plaintiffs in these actions are suing over vehicles manufactured by pre-bankruptcy General Motors Corporation, we are seeking to enforce the terms of the federal Bankruptcy Court’s July 2009 Sale Order and Injunction to preclude liability for any economic loss damages based on vehicles and parts manufactured prior to July 2009. These cases are in their early stages. In addition to the cases pending in the multidistrict litigation, other economic-loss and personal injury cases related to ignition-switch and other alleged defects that may be the subject of recalls in 2014 are pending in various other state and federal courts throughout the country. The cases pending in other state courts include a November 19, 2014 lawsuit filed by the Attorney General for Arizona against GM in Arizona state court alleging claims similar to those alleged in the economic-loss actions discussed above and seeking an injunction, civil penalties and other relief. | ||||||||||||||||||||||||
Through January 30, 2015 we are aware of two actions that have been filed against GM alleging that GM’s purported concealment of the ignition switch and other defects that have been the subject of recalls in 2014 has diminished the value of other GM vehicles and seeking economic damages under California consumer protection statutes. One of these actions is a putative class action that has been consolidated with the ignition switch putative class actions and transferred to the Southern District of New York. The other action was brought by the Orange County, California district attorney and is pending in California state court. In the aggregate, these actions seek recovery under California consumer protection statutes for economic damages as well as civil penalties, punitive damages, attorneys’ fees and costs. | ||||||||||||||||||||||||
On March 21, 2014 a putative shareholder class action was filed in the United States District Court for the Eastern District of Michigan against GM and various current and former officers or employees of GM (Pio v. General Motors Company et al.) on behalf of purchasers of GM securities from November 17, 2010 through March 10, 2014. The complaint alleges that defendants made material misstatements and omissions relating to problems with the ignition switch and other matters in SEC filings. Plaintiffs seek unspecified monetary damages, interest and attorneys’ fees and costs. The court appointed the New York State Teachers’ Retirement System as the lead plaintiff. On January 15, 2015 New York State Teachers’ Retirement System filed a Consolidated Class Action Complaint against GM and several current and former officers and employees. The Consolidated Class Action Complaint supersedes the complaint filed March 21, 2014 in this same case. | ||||||||||||||||||||||||
On March 28, 2014 a shareholder derivative action was filed in the United States District Court for the Eastern District of Michigan against certain current and former GM directors (Hockstein v. Barra, et al.). The complaint alleges breach of fiduciary duty, waste of corporate assets, and unjust enrichment by GM’s directors in connection with monitoring, remediation and disclosure of the issues underlying the ignition switch recall. Between April 9, 2014 and July 22, 2014, similar shareholder derivative actions were filed in the Eastern District of Michigan (Police Retirement System of St. Louis v. Barra, et al.), the Circuit Court for Wayne County, Michigan (Bekkerman v. Barra, et al., Wietschiner, et al. v. Barra, et al.) and the Chancery Court for the State of Delaware (Nash v. Barra, et al., DiStefano v. Barra, et al., Newspaper and Magazine Employees Union v. Barra, et al., Boso v. Solso, et al.). All of these actions seek damages allegedly resulting from defendants’ failure to timely identify, correct and disclose the ignition switch defect, an order compelling implementation of various corporate governance policies and practices and other relief purportedly for the benefit of GM. | ||||||||||||||||||||||||
With regard to the two above listed shareholder derivative actions pending in the United States District Court for the Eastern District of Michigan against certain current and former GM directors, those actions have been consolidated and we filed a motion to dismiss the consolidated amended complaint on October 9, 2014. On January 11, 2015 the court issued an order suspending further proceedings in the actions and holding our motion to dismiss in abeyance pending disposition of the parallel action currently being litigated in Delaware Chancery Court (In re General Motors Deriv. Litig., C.A. No. 9627-VCG). With regard to that pending litigation in Delaware Chancery Court, the four above listed shareholder derivative actions pending in that court have been consolidated and plaintiffs filed an amended consolidated complaint on October 13, 2014. We filed a motion to dismiss the amended consolidated complaint on December 5, 2014. With regard to the two above listed derivative actions filed in the Circuit Court of Wayne County, Michigan, those actions have been consolidated and stayed pending the federal derivative actions. | ||||||||||||||||||||||||
We are also the subject of various inquiries, investigations, subpoenas and requests for information from the U.S. Attorney’s Office for the Southern District of New York, Congress, the SEC, Transport Canada and 49 state attorneys general in connection with the 2014 recalls. We are investigating these matters and believe we are cooperating fully with all requests. Such investigations and discussions could in the future result in the imposition of material damages, fines or civil and criminal penalties and other remedies. | ||||||||||||||||||||||||
We are currently unable to estimate a range of reasonably possible loss for the lawsuits and investigations because these matters involve significant uncertainties at these early stages. These uncertainties include the legal theory or the nature of the claims as well as the complexity of the facts. Although we cannot estimate a reasonable range of loss based on currently available information, the resolution of these matters could have a material adverse effect on our financial position, results of operations or cash flows. | ||||||||||||||||||||||||
GMCL Dealers' Claim | ||||||||||||||||||||||||
On February 12, 2010 a claim was filed in the Ontario Superior Court of Justice against General Motors of Canada Limited (GMCL) on behalf of a purported class of over 200 former GMCL dealers (the Plaintiff Dealers) which had entered into wind-down agreements with GMCL. In May 2009 in the context of the global restructuring of the business and the possibility that GMCL might be required to initiate insolvency proceedings, GMCL offered the Plaintiff Dealers the wind-down agreements to assist with their exit from the GMCL dealer network and to facilitate winding down their operations in an orderly fashion by December 31, 2009 or such other date as GMCL approved but no later than on October 31, 2010. The Plaintiff Dealers allege that the Dealer Sales and Service Agreements were wrongly terminated by GMCL and that GMCL failed to comply with certain disclosure obligations, breached its statutory duty of fair dealing and unlawfully interfered with the Plaintiff Dealers' statutory right to associate in an attempt to coerce the Plaintiff Dealers into accepting the wind-down agreements. The Plaintiff Dealers seek damages and assert that the wind-down agreements are rescindable. The Plaintiff Dealers' initial pleading makes reference to a claim “not exceeding” CAD $750 million, without explanation of any specific measure of damages. On March 1, 2011 the court approved certification of a class for the purpose of deciding a number of specifically defined issues including: (1) whether GMCL breached its obligation of "good faith" in offering the wind-down agreements; (2) whether GMCL interfered with the Plaintiff Dealers' rights of free association; (3) whether GMCL was obligated to provide a disclosure statement and/or disclose more specific information regarding its restructuring plans in connection with proffering the wind-down agreements; and (4) assuming liability, whether the Plaintiff Dealers can recover damages in the aggregate (as opposed to proving individual damages). A number of former dealers have opted out of participation in the litigation, leaving 181 dealers in the certified class. Trial of the class issues was completed in the fourth quarter of 2014. We are now awaiting a decision from the Ontario Superior Court. The current prospects for liability are uncertain, but because liability is not deemed probable we have no accrual relating to this litigation. We cannot estimate the range of reasonably possible loss in the event of liability as the case presents a variety of different legal theories, none of which GMCL believes are valid. | ||||||||||||||||||||||||
UAW Claim | ||||||||||||||||||||||||
On April 6, 2010 the UAW filed suit against us in the U.S. District Court for the Eastern District of Michigan claiming that we breached our obligation to contribute $450 million to the New VEBA. The UAW alleges that we were contractually required to make this contribution pursuant to the UAW-Delphi-GM Memorandum of Understanding Delphi Restructuring dated June 22, 2007. We believe this claim is without merit. On December 10, 2013 the court granted our motion for summary judgment and dismissed the claims asserted by the UAW, holding that the relevant agreement is unambiguous and does not require the payment sought. The UAW has appealed. On October 9, 2014 the United States Court of Appeals for the Sixth Circuit heard oral arguments. We are now awaiting a decision from the United States Court of Appeals for the Sixth Circuit. | ||||||||||||||||||||||||
GM Korea Wage Litigation | ||||||||||||||||||||||||
Commencing on or about September 29, 2010 current and former hourly employees of GM Korea filed eight separate group actions in the Incheon District Court in Incheon, Korea. The cases, which in aggregate involve more than 10,000 employees, allege that GM Korea failed to include bonuses and certain allowances in its calculation of Ordinary Wages due under the Presidential Decree of the Korean Labor Standards Act. On November 23, 2012 the Seoul High Court (an intermediate level appellate court) issued a decision affirming a decision of the Incheon District Court in a case involving five GM Korea employees which was contrary to GM Korea's position. GM Korea appealed to the Supreme Court of the Republic of Korea (Supreme Court) and initiated a constitutional challenge to the adverse interpretation of the relevant statute. In December 2013 the Supreme Court rendered a decision in a case involving another company not affiliated with us which addressed many of the issues presented in the cases pending against GM Korea and resolved many of them in a manner which we believe is favorable to GM Korea. In particular, while the Supreme Court held that fixed bonuses should be included in the calculation of Ordinary Wages, it also held that claims for retroactive application of this rule would be barred under certain circumstances. On May 29, 2014 the Supreme Court rendered its decision with respect to the case involving the five GM Korea employees and remanded the case to the Seoul High Court consistent with its December 2013 ruling. In July 2014 GM Korea and its labor union agreed to include bonuses and certain allowances in ordinary wages retroactively to March 1, 2014. Therefore our accrual related to these cases was reclassified from a contingent liability to the Pensions liability. We estimate our reasonably possible loss, as defined by ASC 450, “Contingencies,” in excess of amounts accrued to be 562 billion South Korean Won (equivalent to $511 million) at December 31, 2014, which relates to periods before March 1, 2014. We are also party to litigation with current and former salaried employees over allegations relating to Ordinary Wages regulation. At December 31, 2014 we have identified a reasonably possible loss in excess of the amount of our accrual of 164 billion South Korean Won (equivalent to $149 million). Both the scope of claims asserted and GM Korea's assessment of any or all of the individual claim elements may change if new information becomes available. These cases are currently pending before various district courts in Korea and the Supreme Court. | ||||||||||||||||||||||||
Inventory Management Securities Class Action | ||||||||||||||||||||||||
On June 29, 2012 a putative securities class action was filed against us and a number of our past and current officers and directors in the United States District Court for the Southern District of New York (George G. Scott v. General Motors Company et al). Purporting to sue on behalf of owners of common stock deriving from our 2010 initial public offering, plaintiff asserts non-fraud prospectus based liability claims under various federal securities statutes alleging that the Company has made false statements about its vehicle inventory controls and production decisions, particularly with respect to full-size trucks. The plaintiff's complaint requests compensatory damages, rescission and litigation costs, fees and disbursements. On November 21, 2012 the court appointed the Teamster's Local 710 Pension Fund as lead plaintiff in the matter. On February 1, 2013 the plaintiff filed an amended complaint. On September 4, 2014 the district court granted our motion to dismiss, and dismissed the case with prejudice. Plaintiff filed an appeal. | ||||||||||||||||||||||||
GM Financial Subpoena | ||||||||||||||||||||||||
In July 2014 GM Financial was served with a subpoena by the U.S. Department of Justice directing GM Financial to produce certain documents relating to GM Financial’s and its subsidiaries’ and affiliates’ origination and securitization of sub-prime automobile loans since 2007 in connection with an investigation by the U.S. Department of Justice in contemplation of a civil proceeding for potential violations of the Financial Institutions Reform, Recovery, and Enforcement Act of 1989. Among other matters, the subpoena requests information relating to the underwriting criteria used to originate these automobile loans and the representations and warranties relating to those underwriting criteria that were made in connection with the securitization of the automobile loans. GM Financial was subsequently served with additional investigative subpoenas to produce documents from state attorneys general and other governmental offices relating to its sub-prime automotive finance business and securitization of sub-prime automobile loans. In October 2014 GM Financial received a document request from the SEC in connection with its investigation into certain practices in sub-prime automobile loan securitization. GM Financial is investigating these matters internally and believes that it is cooperating with all requests. Such investigations could in the future result in the imposition of damages, fines or civil or criminal claims and/or penalties. No assurance can be given that the ultimate outcome of the investigations or any resulting proceedings would not materially and adversely affect GM Financial or any of its subsidiaries and affiliates. | ||||||||||||||||||||||||
Product Liability | ||||||||||||||||||||||||
With respect to product liability claims involving our and General Motors Corporation's products, we believe that any judgment against us for actual damages will be adequately covered by our recorded accruals and, where applicable, excess liability insurance coverage. Although punitive damages are claimed in some of these lawsuits and such claims are inherently unpredictable, accruals incorporate historic experience with these types of claims. In addition we indemnify dealers for certain product liability related claims including products sold by General Motors Corporation's dealers. We monitor actual claims experience and make periodic adjustments to our estimates. Liabilities have been recorded in Accrued liabilities and Other liabilities for the expected cost of all known product liability claims plus an estimate of the expected cost for product liability claims that have already been incurred and are expected to be filed in the future for which we are self-insured. In light of recent vehicle recalls it is reasonably possible that our accruals for product liability claims may increase in future periods in material amounts, although we cannot estimate a reasonable range of incremental loss based on currently available information. | ||||||||||||||||||||||||
Ignition Switch Recall Compensation Program | ||||||||||||||||||||||||
In the three months ended June 30, 2014 we announced the creation of a compensation program (the Program) to compensate accident victims who died or suffered physical injury (or their families) as a result of a faulty ignition switch related to the 2.6 million vehicles recalled as more fully described in Note 13. It is important to our company that we reach everyone through this Program who has been impacted. The Program is being administered by an independent program administrator. The independent administrator has established a protocol that defines the eligibility requirements to participate in the Program. There is no cap on the amount of payments that can be made to claimants under the Program. | ||||||||||||||||||||||||
At December 31, 2014 we have an accrual of $315 million recorded in Corporate which represents our best estimate of remaining amounts that may be paid under the Program. However, it is reasonably possible that the liability could exceed our recorded amount by approximately $200 million. The most significant estimates affecting the amount recorded include the number of participants that have eligible claims related to death and physical injury, which also contemplates the severity of injury, the length of hospital stays and related compensation amounts and the number of people who actually elect to participate in the Program. Our estimate is subject to significant uncertainties, as programs of this nature are highly unusual and each eligible claim will have a unique underlying fact pattern. While we do not anticipate material changes to our current estimate, it is possible that material changes could occur should actual eligible claims and the related compensation amounts differ from this estimate. The Program accepted claims from August 1, 2014 through January 31, 2015. Payments to eligible claimants began in the fourth quarter 2014 and will continue through the first half of 2015. Accident victims (or their families) could choose not to participate in the Program and pursue litigation against us. At January 30, 2015 the Program had received 3,810 claims and the independent program administrator has determined 128 claims to be eligible for payment under the Program. Remaining claims are either under review, deficient awaiting further documentation or deemed ineligible. Based on currently available information we believe our accrual at December 31, 2014 is adequate to cover the estimated costs under the Program. At January 30, 2015 we have paid $93 million to eligible claimants under the Program. Accident victims that accept a payment under the Program agree to settle all claims against GM related to the accident. | ||||||||||||||||||||||||
Environmental Liability | ||||||||||||||||||||||||
Automotive operations, like operations of other companies engaged in similar businesses, are subject to a wide range of environmental protection laws, including laws regulating air emissions, water discharges, waste management and environmental remediation. Liabilities have been recorded primarily in Other liabilities for the expected costs to be paid over the periods of remediation for the applicable sites, which typically range from five to 30 years. | ||||||||||||||||||||||||
The final outcome of environmental matters cannot be predicted with certainty at this time. Subsequent adjustments to initial estimates are recorded as necessary based upon additional information obtained. In future periods new laws or regulations, advances in remediation technologies and additional information about the ultimate remediation methodology to be used could significantly change our estimates. It is possible that the resolution of one or more environmental matters could exceed the amounts accrued in an amount that could be material to our financial condition, results of operations and cash flows. At December 31, 2014 we estimate the remediation losses could range from $110 million to $210 million. | ||||||||||||||||||||||||
Other Matters | ||||||||||||||||||||||||
Brazil Excise Tax Incentive | ||||||||||||||||||||||||
In October 2012 the Brazilian government issued a decree which increased an excise tax rate by 30 percentage points, but also provided an offsetting tax incentive that requires participating companies to meet certain criteria, such as local investment and fuel efficiency standards. Participating companies that fail to meet the required criteria are subject to clawback provisions and fines. At December 31, 2014 we believe it is reasonably assured that the program requirements will be met based on the current business model and available technologies. | ||||||||||||||||||||||||
Korea Fuel Economy Certification | ||||||||||||||||||||||||
We determined the certified fuel economy ratings on our Cruze 1.8L gasoline vehicles sold in Korea were incorrect. We re-tested and re-certified the Cruze fuel economy ratings which fell below our prior certification and self-reported this issue to local government authorities. We voluntarily announced a customer compensation program for current and previous Cruze owners and recorded an insignificant charge in the three months ended December 31, 2014. | ||||||||||||||||||||||||
In November 2014 the Korean government released new fuel economy certification guidelines. We are reviewing the impact the new testing guidelines may have on the domestic fuel economy certification ratings of our products. | ||||||||||||||||||||||||
India Tavera Emissions Compliance | ||||||||||||||||||||||||
We determined there was an emissions compliance issue with certain Tavera models produced in India. We self-reported this issue in the three months ended September 30, 2013 to local government authorities and are continuing to cooperate. We developed a solution, and while the issue was not safety related, we voluntarily recalled the vehicles to serve our customers. We believe our accrual at December 31, 2014 is adequate to cover the estimated costs of the recalled vehicles. | ||||||||||||||||||||||||
Noncancelable Operating Leases | ||||||||||||||||||||||||
The following table summarizes our minimum commitments under noncancelable operating leases having initial terms in excess of one year, primarily for property (dollars in millions): | ||||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | |||||||||||||||||||
Minimum commitments(a) | $ | 348 | $ | 280 | $ | 196 | $ | 171 | $ | 144 | $ | 396 | ||||||||||||
Sublease income | (53 | ) | (62 | ) | (59 | ) | (56 | ) | (54 | ) | (248 | ) | ||||||||||||
Net minimum commitments | $ | 295 | $ | 218 | $ | 137 | $ | 115 | $ | 90 | $ | 148 | ||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Certain of the leases contain escalation clauses and renewal or purchase options. | |||||||||||||||||||||||
Rental expense under operating leases was $444 million, $477 million and $474 million in the years ended December 31, 2014, 2013 and 2012. |
Income_Taxes
Income Taxes | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Income Taxes [Text Block] | Income Taxes | |||||||||||
The following table summarizes income (loss) before income taxes and equity income (dollars in millions): | ||||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
U.S. income (loss) | $ | 1,683 | $ | 4,880 | $ | (19,063 | ) | |||||
Non-U.S. income (loss) | 469 | 768 | (11,194 | ) | ||||||||
Income (loss) before income taxes and equity income | $ | 2,152 | $ | 5,648 | $ | (30,257 | ) | |||||
Income Tax Expense (Benefit) | ||||||||||||
The following table summarizes Income tax expense (benefit) (dollars in millions): | ||||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Current income tax expense (benefit) | ||||||||||||
U.S. federal | $ | (23 | ) | $ | (34 | ) | $ | 6 | ||||
U.S. state and local | 154 | 88 | 78 | |||||||||
Non-U.S. | 671 | 512 | 646 | |||||||||
Total current income tax expense | 802 | 566 | 730 | |||||||||
Deferred income tax expense (benefit) | ||||||||||||
U.S. federal | (581 | ) | 1,049 | (28,965 | ) | |||||||
U.S. state and local | (60 | ) | 137 | (3,415 | ) | |||||||
Non-U.S. | 67 | 375 | (3,181 | ) | ||||||||
Total deferred income tax expense (benefit) | (574 | ) | 1,561 | (35,561 | ) | |||||||
Total income tax expense (benefit) | $ | 228 | $ | 2,127 | $ | (34,831 | ) | |||||
Provisions are made for estimated U.S. and non-U.S. income taxes, less available tax credits and deductions, which may be incurred on the remittance of our basis differences in investments in foreign subsidiaries and corporate joint ventures not deemed to be indefinitely reinvested. Taxes have not been provided on basis differences in investments primarily as a result of earnings in foreign subsidiaries and corporate joint ventures which are deemed indefinitely reinvested of $3.0 billion and $2.6 billion at December 31, 2014 and 2013. Additional basis differences related to investments in nonconsolidated China JVs exist of $4.1 billion at December 31, 2014 and 2013 primarily related to fresh-start reporting. Quantification of the deferred tax liability, if any, associated with indefinitely reinvested basis differences is not practicable. | ||||||||||||
The following table summarizes a reconciliation of Income tax expense (benefit) compared with the amounts at the U.S. federal statutory income tax rate (dollars in millions): | ||||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Income tax expense (benefit) at U.S. federal statutory income tax rate | $ | 753 | $ | 1,977 | $ | (10,590 | ) | |||||
State and local tax expense | 73 | 145 | 254 | |||||||||
Non-U.S. income taxed at other than 35% | (72 | ) | (168 | ) | 908 | |||||||
Foreign tax credit election change | — | — | (1,075 | ) | ||||||||
U.S. tax on Non-U.S. income | (8 | ) | 543 | 713 | ||||||||
Change in valuation allowance | (402 | ) | 182 | (33,917 | ) | |||||||
Change in tax laws | 602 | 146 | 67 | |||||||||
Research incentives | (279 | ) | (490 | ) | (68 | ) | ||||||
Goodwill impairment | 41 | 124 | 8,705 | |||||||||
Settlements of prior year tax matters | (275 | ) | (473 | ) | — | |||||||
Realization of basis differences in affiliates | (256 | ) | — | — | ||||||||
Foreign currency remeasurement | 124 | (21 | ) | (36 | ) | |||||||
U.S. salaried pension plan settlement | — | — | 541 | |||||||||
Other adjustments | (73 | ) | 162 | (333 | ) | |||||||
Total income tax expense (benefit) | $ | 228 | $ | 2,127 | $ | (34,831 | ) | |||||
Deferred Income Tax Assets and Liabilities | ||||||||||||
Deferred income tax assets and liabilities at December 31, 2014 and 2013 reflect the effect of temporary differences between amounts of assets, liabilities and equity for financial reporting purposes and the bases of such assets, liabilities and equity as measured by tax laws, as well as tax loss and tax credit carryforwards. The following table summarizes the components of temporary differences and carryforwards that give rise to deferred tax assets and liabilities (dollars in millions): | ||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||
Deferred tax assets | ||||||||||||
Postretirement benefits other than pensions | $ | 2,958 | $ | 2,902 | ||||||||
Pension and other employee benefit plans | 7,503 | 5,469 | ||||||||||
Warranties, dealer and customer allowances, claims and discounts | 5,512 | 4,282 | ||||||||||
Property, plants and equipment | 2,323 | 2,464 | ||||||||||
Capitalized research expenditures | 8,588 | 7,179 | ||||||||||
Operating loss and tax credit carryforwards(a) | 14,136 | 19,342 | ||||||||||
Miscellaneous | 3,286 | 1,663 | ||||||||||
Total deferred tax assets before valuation allowances | 44,306 | 43,301 | ||||||||||
Less: valuation allowances | (9,659 | ) | (10,823 | ) | ||||||||
Total deferred tax assets | 34,647 | 32,478 | ||||||||||
Deferred tax liabilities | ||||||||||||
Intangible assets | 416 | 397 | ||||||||||
Net deferred tax assets | $ | 34,231 | $ | 32,081 | ||||||||
_________ | ||||||||||||
(a) | Includes operating loss and tax credit carryforwards of $8.9 billion expiring through 2034 and $5.2 billion that may be carried forward indefinitely at December 31, 2014. | |||||||||||
At December 31, 2014 and 2013 valuation allowances against deferred tax assets were primarily in GME and South Korea business units and in the U.S. and Canada related primarily to capital loss tax attributes and state operating loss carryforwards. | ||||||||||||
At December 31, 2014 our European businesses had deferred tax asset valuation allowances of $4.9 billion. As a result of the changes in our European operating structure and improving financial performance in certain jurisdictions, we are experiencing positive evidence trends in certain operations. If these operations generate profits and taxable income in the future, it is reasonably possible our conclusion regarding the need for full valuation allowances could change, resulting in the reversal of significant portions of the valuation allowances. In the quarter in which significant valuation allowances are reversed, we will record a material tax benefit reflecting the reversal, which could result in a negative effective tax rate for both the quarter and full year. | ||||||||||||
At December 31, 2012 as a result of sustained profitability in the U.S. and Canada evidenced by three years of earnings and the completion of our near- and medium-term business plans in the three months ended December 31, 2012 that forecast continuing profitability, we determined it was more likely than not future earnings will be sufficient to realize deferred tax assets in these two jurisdictions. Accordingly we reversed most of the U.S. and Canadian valuation allowances resulting in non-cash income tax benefits of $33.2 billion and $3.1 billion. | ||||||||||||
Uncertain Tax Positions | ||||||||||||
The following table summarizes activity of the total amounts of unrecognized tax benefits (dollars in millions): | ||||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Beginning balance | $ | 2,530 | $ | 2,745 | $ | 2,370 | ||||||
Additions to current year tax positions | 184 | 251 | 112 | |||||||||
Additions to prior years' tax positions | 149 | 276 | 512 | |||||||||
Reductions to prior years' tax positions | (603 | ) | (535 | ) | (141 | ) | ||||||
Reductions in tax positions due to lapse of statutory limitations | (164 | ) | (73 | ) | (34 | ) | ||||||
Settlements | (138 | ) | (132 | ) | (112 | ) | ||||||
Other | (81 | ) | (2 | ) | 38 | |||||||
Ending balance | $ | 1,877 | $ | 2,530 | $ | 2,745 | ||||||
At December 31, 2014 and 2013 there were $1.2 billion and $1.5 billion of unrecognized tax benefits that if recognized would favorably affect our effective tax rate in the future. In the years ended December 31, 2014, 2013 and 2012 income tax related interest and penalties were insignificant. At December 31, 2014 and 2013 we had liabilities of $246 million and $286 million for income tax related interest and penalties. | ||||||||||||
In the year ended December 31, 2013 we remeasured a previously disclosed uncertain tax position and recorded a $473 million tax benefit that increased net operating loss carryforwards, reducing future taxable income. | ||||||||||||
At December 31, 2014 it is not possible to reasonably estimate the expected change to the total amount of unrecognized tax benefits in the next twelve months. | ||||||||||||
Other Matters | ||||||||||||
Income tax returns are filed in multiple jurisdictions and are subject to examination by taxing authorities throughout the world. We have open tax years from 2006 to 2014 with various significant tax jurisdictions. These open years contain matters that could be subject to differing interpretations of applicable tax laws and regulations as they relate to the amount, character, timing or inclusion of revenue and expenses or the sustainability of income tax credits for a given audit cycle. Given the global nature of our operations there is a risk that transfer pricing disputes may arise. | ||||||||||||
We have net operating loss carryforwards in Germany through November 30, 2009 that, as a result of reorganizations that took place in 2008 and 2009, were not recorded as deferred tax assets. Depending on the outcome of European court decisions these loss carryforwards may be available to reduce future taxable income in Germany. | ||||||||||||
General Motors Corporation was liquidated on December 15, 2011. The IRS has audited the returns through the liquidation date and, in January 2014, the audit of these returns was closed. The reduction to the amount of unrecognized tax benefits was not significant. | ||||||||||||
In January 2013 the U.S. Congress enacted federal income tax legislation including an extension of the research credit for tax years 2012 and 2013. As a result, in the year ended December 31, 2013 we recorded an income tax benefit related to the 2012 research credit of approximately $200 million. |
Restructuring_And_Other_Initia
Restructuring And Other Initiatives | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ||||||||||||||||||||
Restructuring and Other Initiatives [Text Block] | Restructuring and Other Initiatives | |||||||||||||||||||
We have executed various restructuring and other initiatives and we plan to execute additional initiatives in the future, if necessary, in order to align manufacturing capacity and other costs with prevailing global automotive production and to improve the utilization of remaining facilities. To the extent these programs involve voluntary separations, no liabilities are generally recorded until offers to employees are accepted. If employees are involuntarily terminated, a liability is generally recorded at the communication date. Related charges are recorded in Automotive cost of sales and Automotive selling, general and administrative expense. | ||||||||||||||||||||
The following table summarizes the reserves related to restructuring and other initiatives and charges by segment, including postemployment benefit reserves and charges (dollars in millions): | ||||||||||||||||||||
GMNA | GME | GMIO | GMSA | Total | ||||||||||||||||
Balance at January 1, 2012 | $ | 884 | $ | 687 | $ | 1 | $ | 12 | $ | 1,584 | ||||||||||
Additions, interest accretion and other | 140 | 254 | 84 | 92 | 570 | |||||||||||||||
Payments | (304 | ) | (344 | ) | (46 | ) | (55 | ) | (749 | ) | ||||||||||
Revisions to estimates and effect of foreign currency | (67 | ) | (7 | ) | — | (11 | ) | (85 | ) | |||||||||||
Balance at December 31, 2012(a) | 653 | 590 | 39 | 38 | 1,320 | |||||||||||||||
Additions, interest accretion and other | 58 | 202 | 404 | 50 | 714 | |||||||||||||||
Payments | (182 | ) | (299 | ) | (111 | ) | (68 | ) | (660 | ) | ||||||||||
Revisions to estimates and effect of foreign currency | (32 | ) | 10 | 1 | (4 | ) | (25 | ) | ||||||||||||
Balance at December 31, 2013(a) | 497 | 503 | 333 | 16 | 1,349 | |||||||||||||||
Additions, interest accretion and other | 42 | 675 | 213 | 83 | 1,013 | |||||||||||||||
Payments | (96 | ) | (329 | ) | (342 | ) | (95 | ) | (862 | ) | ||||||||||
Revisions to estimates and effect of foreign currency | 16 | (98 | ) | (38 | ) | (2 | ) | (122 | ) | |||||||||||
Balance at December 31, 2014(a) | $ | 459 | $ | 751 | $ | 166 | $ | 2 | $ | 1,378 | ||||||||||
__________ | ||||||||||||||||||||
(a) | The remaining cash payments related to these reserves for restructuring and other initiatives, including temporary layoff benefits of $354 million, $353 million and $356 million at December 31, 2014, 2013 and 2012 for GMNA, primarily relate to postemployment benefits to be paid. | |||||||||||||||||||
Year Ended December 31, 2014 | ||||||||||||||||||||
Restructuring and other initiatives at GME primarily related to the termination of all vehicle and transmission production at our Bochum, Germany facility. Through December 31, 2014 the active separation programs related to Germany had a total cost of $841 million and had affected a total of 3,560 employees. We completed the separation program at Bochum in December 2014. | ||||||||||||||||||||
Restructuring and other initiatives at GMIO primarily related to separation programs in Australia and Korea, the withdrawal of the Chevrolet brand from Europe and the cessation of manufacturing in Australia. Through December 31, 2014 the active separation programs related to Australia, Korea and Chevrolet Europe locations had a total cost of $514 million and affected a total of 3,380 employees. We expect to complete these programs in 2017 and incur additional restructuring and other charges of $270 million. | ||||||||||||||||||||
Restructuring and other initiatives at GMSA primarily related to completed separation programs in Brazil and an active separation program in Venezuela and through December 31, 2014 had a total cost of $169 million. | ||||||||||||||||||||
Year Ended December 31, 2013 | ||||||||||||||||||||
Restructuring and other initiatives primarily related to: (1) cash severance incentive programs for skilled trade U.S. hourly employees and service cost for hourly layoff benefits at GMNA; (2) our plan to terminate all vehicle and transmission production at our Bochum, Germany facility by the end of 2014 which had a total cost of $194 million and had affected a total of 450 employees at GME through December 31, 2013; (3) separation programs in Australia and Korea and programs related to the withdrawal of the Chevrolet brand from Europe, described below, which had a total cost of $420 million and had affected a total of 4,100 employees at GMIO through December 31, 2013; and (4) active separation programs in Brazil which had a total cost of $103 million at GMSA through December 31, 2013. | ||||||||||||||||||||
Year Ended December 31, 2012 | ||||||||||||||||||||
Restructuring and other initiatives primarily related to: (1) our 2011 UAW labor agreement, which included cash severance incentive programs that were completed at March 31, 2012 at a total cost of $99 million affecting 1,400 skilled trade U.S. hourly employee participants and increased production capacity utilization in Canada at GMNA; (2) separation and early retirement programs in Germany and the United Kingdom that had a total cost of $400 million and affected a total of 2,550 employees, of which $310 million related to a program initiated in Germany in 2010 at GME; (3) voluntary separation programs in Korea and Australia which had a total cost of $69 million and affected 650 employees at GMIO; and (4) a separation program in Brazil of $87 million at GMSA. | ||||||||||||||||||||
Withdrawal of the Chevrolet Brand from Europe | ||||||||||||||||||||
In December 2013 we announced our plans to focus our marketing and product portfolio on our Opel and Vauxhall brands in Western and Central Europe and cease mainstream distribution of the Chevrolet brand in those markets in 2015. This decision impacts 1,200 Chevrolet dealers and distributors in the affected countries and 480 Chevrolet Europe employees. In the three months ended December 31, 2013 we recorded pre-tax charges of $636 million, net of noncontrolling interests of $124 million. These charges included dealer restructuring costs of $233 million and employee severance costs of $30 million which are reflected in the table above. The remaining charges for intangible asset impairments of $264 million and sales incentive, inventory related and other costs of $233 million are not included in the table above. Refer to Note 11 for additional information on the intangible asset impairment charges. | ||||||||||||||||||||
Manufacturing Operations at Holden | ||||||||||||||||||||
In December 2013 we announced plans to cease vehicle and engine manufacturing and significantly reduce engineering operations at Holden by the end of 2017. Holden will continue to sell imported vehicles through its Holden dealer network and maintain its global design studio. This decision affects 2,900 employees at certain Holden facilities. In the three months ended December 31, 2013 we recorded pre-tax charges of $536 million in Automotive cost of sales consisting primarily of asset impairment charges of $477 million, including property, plant and equipment, which are not included in the table above. The remaining charges relate to exit-related costs, including certain employee severance related costs, of which $59 million are included in the table above. Refer to Note 9 for additional information on the property, plant and equipment impairment charges. | ||||||||||||||||||||
Interest_Income_and_Other_NonO
Interest Income and Other Non-Operating Income, net | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Interest and Other Income [Abstract] | ||||||||||||
Interest Income and Other Non-Operating Income, net [Text Block] | Interest Income and Other Non-Operating Income, net | |||||||||||
The following table summarizes the components of Interest income and other non-operating income, net (dollars in millions): | ||||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Interest income | $ | 211 | $ | 246 | $ | 343 | ||||||
Net gains (losses) on derivatives | 48 | (13 | ) | (63 | ) | |||||||
Dividends and royalties | 101 | 97 | 98 | |||||||||
Foreign currency transaction and remeasurement gains (losses) | 378 | (154 | ) | 16 | ||||||||
Gains (losses) on securities and other investments - realized and unrealized | 13 | 691 | (193 | ) | ||||||||
Deferred income from technology agreements | — | 100 | 114 | |||||||||
Other | 72 | 96 | 530 | |||||||||
Total interest income and other non-operating income, net | $ | 823 | $ | 1,063 | $ | 845 | ||||||
In December 2013 we sold our investment in Ally Financial common stock through a private offering for net proceeds of $880 million and recorded a gain of $483 million. |
Stockholders_Equity_and_Noncon
Stockholders' Equity and Noncontrolling Interests | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ||||||||||||||||||||
Stockholders' Equity and Noncontrolling Interests [Text Block] | Stockholders’ Equity and Noncontrolling Interests | |||||||||||||||||||
Preferred and Common Stock | ||||||||||||||||||||
We have 2.0 billion shares of preferred stock and 5.0 billion shares of common stock authorized for issuance. There were no shares of Series A Preferred Stock issued and outstanding at December 31, 2014 and 156 million shares of Series A Preferred Stock issued and outstanding at December 31, 2013. We had 1.6 billion and 1.5 billion shares of common stock issued and outstanding at December 31, 2014 and 2013. | ||||||||||||||||||||
The following table summarizes significant features relating to our preferred and common stock (dollars in millions, except for per share amounts): | ||||||||||||||||||||
Liquidation Preference Per Share | Dividend Per Annum | Dividends Paid | ||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
Series A Preferred Stock | $ | 25 | 9 | % | $ | 1,160 | $ | 1,370 | $ | 621 | ||||||||||
Series B Preferred Stock | $ | 50 | 4.75 | % | $ | 237 | $ | 238 | ||||||||||||
Common stock | N/A | $ | 1.2 | $ | 1,928 | $ | — | $ | — | |||||||||||
Series A Preferred Stock | ||||||||||||||||||||
In December 2014 we redeemed all of the remaining outstanding shares of our Series A Preferred Stock at a price equal to the aggregate liquidation amount, including accumulated dividends, of $3.9 billion, which reduced Net income attributable to common stockholders by $809 million and is included within dividends paid in the table above. | ||||||||||||||||||||
In September 2013 we purchased 120 million shares (or 43.5% of the total shares outstanding) of our Series A Preferred Stock held by the New VEBA at a price equal to 108.1% of the aggregate liquidation amount for $3.2 billion. We recorded a loss for the difference between the carrying amount of the Series A Preferred Stock purchased and the consideration paid, which reduced Net income attributable to common stockholders by $816 million and is included within dividends paid in the table above. | ||||||||||||||||||||
Series B Preferred Stock | ||||||||||||||||||||
On December 1, 2013 each of the 100 million shares of our Series B Preferred Stock outstanding automatically converted into 1.3736 shares of our common stock for a total of 137 million common shares. The number of shares of our common stock issued upon mandatory conversion of each share of Series B Preferred Stock was determined based on the average of the closing prices of our common stock over the 40 consecutive trading day period ended November 26, 2013. | ||||||||||||||||||||
Common Stock | ||||||||||||||||||||
Holders of our common stock are entitled to dividends at the sole discretion of our Board of Directors. No common stock dividends were declared or paid prior to 2014. Holders of common stock are entitled to one vote per share on all matters submitted to our stockholders for a vote. The liquidation rights of holders of our common stock are secondary to the payment or provision for payment of all our debts and liabilities and to holders of our preferred stock, if any such shares are then outstanding. | ||||||||||||||||||||
In September 2014 we repurchased 5 million shares of our outstanding common stock at a weighted-average price of $33.69 per share, to offset the dilution from the June 2014 grant of stock incentive awards under the 2014 Long-term Incentive Plan. | ||||||||||||||||||||
In December 2012 we purchased 200 million shares of our common stock from the U.S. Treasury at a price of $27.50 per share for a total of $5.5 billion. The purchase price represented a premium to the prior day's closing price of $25.49. We allocated the purchase price between a direct reduction to stockholders' equity of $5.1 billion and a charge to Automotive selling, general and administrative expense of $402 million representing the premium. These shares were retired and returned to authorized but unissued status. In the year ended December 31, 2012 we issued 1.3 million shares of common stock for the settlement of restricted stock and salary stock awards and 400,000 shares for exercised warrants. Refer to Note 23 for additional information on our stock incentive plans. | ||||||||||||||||||||
Warrants | ||||||||||||||||||||
In July 2009 we issued two tranches of warrants, each to acquire 136 million shares of common stock, to Motors Liquidation Company (MLC) which have all been distributed to creditors of General Motors Corporation and to the Motors Liquidation Company GUC Trust by MLC and one tranche of warrants to acquire 46 million shares of common stock to the New VEBA. The first tranche of MLC warrants is exercisable at any time prior to July 10, 2016 at an exercise price of $10.00 per share and the second tranche of MLC warrants is exercisable at any time prior to July 10, 2019 at an exercise price of $18.33 per share. The New VEBA warrants, which were subsequently sold by the New VEBA, are exercisable at any time prior to December 31, 2015 at an exercise price of $42.31 per share. Upon exercise of the warrants, the shares issued will be included in the number of basic shares outstanding used in the computation of earnings per share. The number of shares of common stock underlying each of the warrants and the per share exercise price are subject to adjustment as a result of certain events, including stock splits, reverse stock splits and stock dividends. The outstanding balance of warrants was 165 million and 293 million at December 31, 2014 and 2013. | ||||||||||||||||||||
Accumulated Other Comprehensive Loss | ||||||||||||||||||||
The following table summarizes the components of Accumulated other comprehensive loss (dollars in millions): | ||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
Foreign Currency Translation Adjustments | ||||||||||||||||||||
Balance at beginning of period | $ | (614 | ) | $ | 101 | $ | 215 | |||||||||||||
Other comprehensive loss | (477 | ) | (722 | ) | (103 | ) | ||||||||||||||
Tax expense (benefit) | (4 | ) | 11 | — | ||||||||||||||||
Other comprehensive loss, net of tax | (473 | ) | (733 | ) | (103 | ) | ||||||||||||||
Other comprehensive income (loss) attributable to noncontrolling interests, net of tax | 23 | 18 | (11 | ) | ||||||||||||||||
Balance at end of period | $ | (1,064 | ) | $ | (614 | ) | $ | 101 | ||||||||||||
Unrealized Gains and Losses on Securities, Net | ||||||||||||||||||||
Balance at beginning of period | $ | 2 | $ | 41 | $ | (4 | ) | |||||||||||||
Other comprehensive income (loss) before reclassification adjustment | (2 | ) | 133 | (140 | ) | |||||||||||||||
Tax expense (benefit) | (1 | ) | (6 | ) | 22 | |||||||||||||||
Other comprehensive income (loss) before reclassification adjustment, net of tax | (1 | ) | 139 | (162 | ) | |||||||||||||||
Reclassification adjustment | (7 | ) | (185 | ) | 202 | |||||||||||||||
Tax benefit | (3 | ) | (7 | ) | (5 | ) | ||||||||||||||
Reclassification adjustment, net of tax | (4 | ) | (178 | ) | 207 | |||||||||||||||
Other comprehensive income (loss), net of tax | (5 | ) | (39 | ) | 45 | |||||||||||||||
Balance at end of period | $ | (3 | ) | $ | 2 | $ | 41 | |||||||||||||
Defined Benefit Plans, Net | ||||||||||||||||||||
Balance at beginning of period | $ | (2,501 | ) | $ | (8,194 | ) | $ | (6,074 | ) | |||||||||||
Other comprehensive income (loss) before reclassification adjustment - prior service cost or credit | (20 | ) | 6 | (53 | ) | |||||||||||||||
Other comprehensive income (loss) before reclassification adjustment - actuarial gains or losses | (6,457 | ) | 8,673 | (3,180 | ) | |||||||||||||||
Tax expense (benefit) | (1,854 | ) | 3,087 | (1,021 | ) | |||||||||||||||
Other comprehensive income (loss) before reclassification adjustment, net of tax | (4,623 | ) | 5,592 | (2,212 | ) | |||||||||||||||
Reclassification adjustment - prior service cost or credit(a) | 22 | (128 | ) | (125 | ) | |||||||||||||||
Reclassification adjustment - actuarial gains or losses(a) | 76 | 178 | 229 | |||||||||||||||||
Tax expense (benefit)(a) | (20 | ) | (51 | ) | 12 | |||||||||||||||
Reclassification adjustment, net of tax(a) | 118 | 101 | 92 | |||||||||||||||||
Other comprehensive income (loss), net of tax | (4,505 | ) | 5,693 | (2,120 | ) | |||||||||||||||
Balance at end of period | $ | (7,006 | ) | $ | (2,501 | ) | $ | (8,194 | ) | |||||||||||
__________ | ||||||||||||||||||||
(a) | Included in the computation of net periodic pension and OPEB (income) expense. Refer to Note 15 for additional information. |
Earnings_Per_Share
Earnings Per Share | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Earnings Per Share [Text Block] | Earnings Per Share | |||||||||||
Basic and diluted earnings per share are computed by dividing Net income attributable to common stockholders by the weighted-average common shares outstanding in the period. Diluted earnings per share is computed by giving effect to all potentially dilutive securities that are outstanding. The following table summarizes basic and diluted earnings per share (in millions, except for per share amounts): | ||||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Basic earnings per share | ||||||||||||
Net income attributable to stockholders | $ | 3,949 | $ | 5,346 | $ | 6,188 | ||||||
Less: cumulative dividends on preferred stock and charge related to redemption and purchase of preferred stock(a) | (1,145 | ) | (1,576 | ) | (859 | ) | ||||||
Less: undistributed earnings allocated to Series B Preferred Stock participating security | — | (470 | ) | |||||||||
Net income attributable to common stockholders | $ | 2,804 | $ | 3,770 | $ | 4,859 | ||||||
Weighted-average common shares outstanding - basic | 1,605 | 1,393 | 1,566 | |||||||||
Basic earnings per common share | $ | 1.75 | $ | 2.71 | $ | 3.1 | ||||||
Diluted earnings per share | ||||||||||||
Net income attributable to stockholders | $ | 3,949 | $ | 5,346 | $ | 6,188 | ||||||
Add: preferred dividends to holders of Series B Preferred Stock | 218 | — | ||||||||||
Less: cumulative dividends on preferred stock and charge related to redemption and purchase of preferred stock(a) | (1,145 | ) | (1,576 | ) | (859 | ) | ||||||
Less: undistributed earnings allocated to Series B Preferred Stock participating security | — | (442 | ) | |||||||||
Less: earnings adjustment for dilutive stock compensation | (18 | ) | ||||||||||
Net income attributable to common stockholders | $ | 2,786 | $ | 3,988 | $ | 4,887 | ||||||
Weighted-average common shares outstanding - diluted | ||||||||||||
Weighted-average common shares outstanding - basic | 1,605 | 1,393 | 1,566 | |||||||||
Dilutive effect of warrants and RSUs | 82 | 149 | 109 | |||||||||
Dilutive effect of conversion of Series B Preferred Stock | 134 | — | ||||||||||
Weighted-average common shares outstanding - diluted | 1,687 | 1,676 | 1,675 | |||||||||
Diluted earnings per common share | $ | 1.65 | $ | 2.38 | $ | 2.92 | ||||||
__________ | ||||||||||||
(a) | Includes earned but undeclared dividends of $15 million and $26 million on our Series A Preferred Stock in the years ended December 31, 2013 and 2012 and $20 million on our Series B Preferred Stock in the year ended December 31, 2012. | |||||||||||
Prior to the December 2013 conversion to common shares, holders of the Series B Preferred Stock had a right to participate in our undistributed earnings because a dividend, if declared, would result in a transfer of value to the holder through an adjustment to the fixed conversion ratios according to various anti-dilution provisions. Based on the nature of the Series B Preferred Stock and the nature of these anti-dilution provisions, we concluded that the Series B Preferred Stock was a participating security and, as such, requires the application of the more dilutive of the two-class or if-converted method to calculate earnings per share when the applicable market value of our common stock is below or above the range of $33.00 to $39.60 per common share. The calculation of the applicable market value is applied to the full year, irrespective of the applicable market value computed during the prior quarters of the current year. On the mandatory conversion date of our Series B Preferred Stock, December 1, 2013, the applicable market value of our common stock was within the range of $33.00 to $39.60 per common share and, as such, we applied the if-converted method for purposes of calculating diluted earnings per share in the year ended December 31, 2013. The impact on diluted earnings per share was an increase of $0.13 in the year ended December 31, 2013 using the if-converted as compared to the two-class method. | ||||||||||||
In the year ended December 31, 2012 we were required to use the two-class method for calculating earnings per share as the applicable market value of our common stock was below $33.00 per common share. Under the two-class method for computing earnings per share, undistributed earnings are allocated to common stock and the Series B Preferred Stock according to their respective participation rights in undistributed earnings, as if all the earnings for the period had been distributed. This allocation to the Series B Preferred Stock holders reduced Net income attributable to common stockholders, resulting in a lower basic and diluted earnings per share amount. The application of the two-class method resulted in an allocation of undistributed earnings to our Series B Preferred Stock holders and, accordingly, 152 million common stock equivalents from the assumed conversion of the Series B Preferred Stock are not considered outstanding for purposes of determining the weighted-average common shares outstanding in the computation of diluted earnings per share for December 31, 2012. | ||||||||||||
In the years ended December 31, 2014, 2013 and 2012 warrants to purchase 46 million shares were not included in the computation of diluted earnings per share because the warrants' exercise price was greater than the average market price of the common shares. |
Stock_Incentive_Plans
Stock Incentive Plans | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||
Stock Incentive Plans [Text Block] | Stock Incentive Plans | |||||||||||
Stock incentive plan awards outstanding at December 31, 2014 consist of awards granted under the 2014 Long-Term Incentive Plan, the 2009 Long-Term Incentive Plan and the Salary Stock Plan. The 2014 Long-Term Incentive Plan was approved by stockholders in June 2014 and replaced the 2009 Long-Term Incentive Plan and Salary Stock Plan. These plans are administered by the Executive Compensation Committee of our Board of Directors. The aggregate number of shares with respect to which awards may be granted under the 2014 Long-Term Incentive Plan shall not exceed 60 million. In January 2014 we amended the 2009 Long-Term Incentive Plan and the Salary Stock Plan to provide cash payment, on a going forward basis, of dividend equivalents upon settlement to active employees and certain former employees with outstanding awards as of the amendment date. | ||||||||||||
Long-Term Incentive Plan | ||||||||||||
We grant RSUs and PSUs under our 2014 Long-Term Incentive Plan and, prior to our 2014 Long-Term Incentive Plan, RSUs under our 2009 Long-Term Incentive Plan. Shares awarded under the plans are subject to forfeiture if the participant leaves the company for reasons other than those permitted under the plans such as retirement, death or disability. Our policy is to issue new shares upon settlement of RSUs and PSUs. | ||||||||||||
We granted 8 million, 7 million and 7 million RSUs in the years ended December 31, 2014, 2013 and 2012. These awards either cliff vest or ratably vest generally over a three-year service period, as defined in the terms of each award. Vesting and subsequent settlement will generally occur based upon employment at the end of each specified service period. | ||||||||||||
We issued 4 million PSUs, equal to the targeted number of shares, in the year ended December 31, 2014. The ultimate number of shares earned will be determined at the end of the specified performance period, which is three years, based on performance criteria determined by the Executive Compensation Committee of the Board of Directors at the time of award. The number of shares earned may equal, exceed or be less than the targeted number of shares depending on whether the performance criteria are met, surpassed or not met. PSU awards generally vest and settle at the end of a three-year period. | ||||||||||||
Salary Stock Plan | ||||||||||||
In the years ended December 31, 2013 and 2012 a portion of each participant's salary was accrued on each salary payment date and converted to RSUs on a quarterly basis. In June 2013 we amended the plan to provide for cash or share settlement of awards based on election by the participant. The liability for these awards continues to be remeasured to fair value at the end of each reporting period. | ||||||||||||
RSUs and PSUs | ||||||||||||
The following table summarizes information about the RSUs and PSUs under our stock incentive plans (units in millions): | ||||||||||||
Shares | Weighted-Average Grant Date Fair Value | Weighted-Average Remaining Contractual Term in Years | ||||||||||
Units outstanding at January 1, 2014 | 18.6 | $ | 27.76 | 1.2 | ||||||||
Granted | 12.1 | $ | 35.31 | |||||||||
Settled | (9.3 | ) | $ | 27.85 | ||||||||
Forfeited or expired | (1.5 | ) | $ | 30.39 | ||||||||
Units outstanding at December 31, 2014 | 19.9 | $ | 32.11 | 1.3 | ||||||||
Units unvested and expected to vest at December 31, 2014 | 12.7 | $ | 32.91 | 1.5 | ||||||||
Units vested and payable at December 31, 2014 | 6.7 | $ | 30.49 | |||||||||
Units granted in the year ended December 31, 2013 | $ | 29.05 | ||||||||||
Units granted in the year ended December 31, 2012 | $ | 25.1 | ||||||||||
The following table summarizes compensation expense recorded for our stock incentive plans (dollars in millions): | ||||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Compensation expense | $ | 245 | $ | 311 | $ | 302 | ||||||
Income tax benefit | $ | 81 | $ | 100 | $ | 100 | ||||||
At December 31, 2014 the total unrecognized compensation expense for nonvested equity awards granted was $247 million. This expense is expected to be recorded over a weighted-average period of 1.5 years. The total fair value of RSUs and PSUs vested in the years ended December 31, 2014, 2013 and 2012 was $221 million, $342 million and $141 million. In the years ended December 31, 2014, 2013 and 2012 total payments for 2.4 million, 3.1 million and 1.6 million RSUs settled under stock incentive plans were $85 million, $94 million and $36 million. |
Supplementary_Quarterly_Financ
Supplementary Quarterly Financial Information (Unaudited) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||
Supplementary Quarterly Financial Information (Unaudited) [Text Block] | Supplementary Quarterly Financial Information (Unaudited) | |||||||||||||||
The following tables summarize supplementary quarterly financial information (dollars in millions, except per share amounts): | ||||||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||||||||||
2014 | ||||||||||||||||
Total net sales and revenue | $ | 37,408 | $ | 39,649 | $ | 39,255 | $ | 39,617 | ||||||||
Automotive gross margin | $ | 2,188 | $ | 2,611 | $ | 3,945 | $ | 4,266 | ||||||||
Net income | $ | 280 | $ | 287 | $ | 1,442 | $ | 2,009 | ||||||||
Net income attributable to stockholders | $ | 213 | $ | 278 | $ | 1,471 | $ | 1,987 | ||||||||
Earnings per share, basic | $ | 0.08 | $ | 0.12 | $ | 0.86 | $ | 0.69 | ||||||||
Earnings per share, diluted | $ | 0.06 | $ | 0.11 | $ | 0.81 | $ | 0.66 | ||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||||||||||
2013 | ||||||||||||||||
Total net sales and revenue | $ | 36,884 | $ | 39,075 | $ | 38,983 | $ | 40,485 | ||||||||
Automotive gross margin | $ | 3,727 | $ | 4,416 | $ | 4,954 | $ | 4,070 | ||||||||
Net income | $ | 1,185 | $ | 1,388 | $ | 1,705 | $ | 1,053 | ||||||||
Net income attributable to stockholders | $ | 1,175 | $ | 1,414 | $ | 1,717 | $ | 1,040 | ||||||||
Earnings per share, basic | $ | 0.63 | $ | 0.87 | $ | 0.5 | $ | 0.64 | ||||||||
Earnings per share, diluted | $ | 0.58 | $ | 0.75 | $ | 0.45 | $ | 0.57 | ||||||||
The three months ended December 31, 2014 included the following on a pre-tax basis: | ||||||||||||||||
• | Gain on extinguishment of debt of $207 million related to unsecured debt in Brazil in GMSA. | |||||||||||||||
• | Asset impairment charges of $158 million related to our Thailand subsidiary in GMIO. | |||||||||||||||
The three months ended September 30, 2014 included asset impairment charges of $194 million related to Russian subsidiaries in GME on a pre-tax basis. | ||||||||||||||||
The three months ended June 30, 2014 included the following on a pre-tax basis: | ||||||||||||||||
• | Recall campaign and courtesy transportation charges of $1.1 billion in GMNA. | |||||||||||||||
• | Catch-up adjustment of $874 million related to change in estimate of recall campaigns in GMNA. | |||||||||||||||
• | Charge of $400 million for ignition switch recall compensation program in Corporate. | |||||||||||||||
The three months ended March 31, 2014 included the following on a pre-tax basis: | ||||||||||||||||
• | Recall campaign and courtesy transportation charges of $1.3 billion in GMNA. | |||||||||||||||
• | Charge of $419 million for the Venezuela currency devaluation in GMSA. | |||||||||||||||
The three months ended December 31, 2013 included the following on a pre-tax (except tax matters) and pre-noncontrolling interests basis: | ||||||||||||||||
• | Benefit from the release of GM Korea wage litigation accruals of $846 million in GMIO. | |||||||||||||||
• | Asset impairment charges of $805 million at Holden and GM India in GMIO. | |||||||||||||||
• | Charges of $745 million related to our plans to cease mainstream distribution of Chevrolet brand in Europe in GMIO. | |||||||||||||||
• | Gain on sale of equity investment in Ally Financial of $483 million in Corporate. | |||||||||||||||
• | Goodwill impairment charges of $481 million in GMIO. | |||||||||||||||
• | Tax benefit of $473 million from remeasurement of uncertain tax position in Corporate. | |||||||||||||||
• | Gain on sale of equity investment in PSA of $152 million in GME. | |||||||||||||||
The three months ended June 30, 2013 included loss on extinguishment of debt of $240 million related to early redemption of preferred shares at GM Korea in GMIO on a pre-tax and pre-noncontrolling interests basis. | ||||||||||||||||
The three months ended March 31, 2013 included a charge of $162 million in GMSA for the Venezuela currency devaluation on a pre-tax basis. In the three months ended March 31, 2013 we used the two-class method for calculating earnings per share because Series B Preferred Stock was a participating security. |
Segment_Reporting
Segment Reporting | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Text Block] | Segment Reporting | |||||||||||||||||||||||||||||||||||||||
We analyze the results of our business through the following segments: GMNA, GME, GMIO, GMSA and GM Financial. The chief operating decision maker evaluates the operating results and performance of our automotive segments through income before interest and income taxes, as adjusted for additional amounts, which is presented net of noncontrolling interests. The chief operating decision maker evaluates GM Financial through income before income taxes-adjusted because he/she believes interest income and interest expense are part of operating results when assessing and measuring the operational and financial performance of the segment. Each segment has a manager responsible for executing our strategies. Our automotive manufacturing operations are integrated within the segments, benefit from broad-based trade agreements and are subject to regulatory requirements, such as CAFE regulations. While not all vehicles within a segment are individually profitable on a fully allocated cost basis, those vehicles are needed in our product mix in order to attract customers to dealer showrooms and to maintain sales volumes for other, more profitable vehicles. Because of these and other factors, we do not manage our business on an individual brand or vehicle basis. | ||||||||||||||||||||||||||||||||||||||||
Substantially all of the cars, trucks and parts produced are marketed through retail dealers in North America, and through distributors and dealers outside of North America, the substantial majority of which are independently owned. | ||||||||||||||||||||||||||||||||||||||||
In addition to the products sold to dealers for consumer retail sales, cars and trucks are also sold to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies and governments. Sales to fleet customers are completed through the network of dealers and in some cases sold directly to fleet customers. Retail and fleet customers can obtain a wide range of aftersale vehicle services and products through the dealer network, such as maintenance, light repairs, collision repairs, vehicle accessories and extended service warranties. | ||||||||||||||||||||||||||||||||||||||||
GMNA primarily meets the demands of customers in North America with vehicles developed, manufactured and/or marketed under the Buick, Cadillac, Chevrolet and GMC brands. The demands of customers outside North America are primarily met with vehicles developed, manufactured and/or marketed under the Buick, Cadillac, Chevrolet, GMC, Holden, Opel and Vauxhall brands. We also had equity ownership stakes directly or indirectly in entities through various regional subsidiaries, primarily in Asia. These companies design, manufacture and market vehicles under the Alpheon, Baojun, Buick, Cadillac, Chevrolet, Jiefang and Wuling brands. | ||||||||||||||||||||||||||||||||||||||||
Our automotive operations' interest income and interest expense are recorded centrally in Corporate. Corporate assets consist primarily of cash and cash equivalents, marketable securities and intercompany balances. All intersegment balances and transactions have been eliminated in consolidation. | ||||||||||||||||||||||||||||||||||||||||
The following tables summarize key financial information by segment (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||
At and For the Year Ended December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||
GMNA | GME | GMIO | GMSA | Corporate | Eliminations | Total Automotive | GM Financial | Eliminations | Total | |||||||||||||||||||||||||||||||
Sales | ||||||||||||||||||||||||||||||||||||||||
External customers | $ | 101,199 | $ | 22,235 | $ | 14,392 | $ | 13,115 | $ | 151 | $ | 151,092 | $ | — | $ | — | $ | 151,092 | ||||||||||||||||||||||
GM Financial revenue | — | — | — | — | — | — | 4,854 | (17 | ) | 4,837 | ||||||||||||||||||||||||||||||
Total net sales and revenue | $ | 101,199 | $ | 22,235 | $ | 14,392 | $ | 13,115 | $ | 151 | $ | 151,092 | $ | 4,854 | $ | (17 | ) | $ | 155,929 | |||||||||||||||||||||
Income (loss) before interest and taxes-adjusted | $ | 6,603 | $ | (1,369 | ) | $ | 1,222 | $ | (180 | ) | $ | (580 | ) | $ | 5,696 | $ | 803 | $ | (5 | ) | $ | 6,494 | ||||||||||||||||||
Adjustments(a) | $ | (975 | ) | $ | (245 | ) | $ | (180 | ) | $ | (539 | ) | $ | (400 | ) | $ | (2,339 | ) | $ | 12 | $ | — | (2,327 | ) | ||||||||||||||||
Automotive interest income | 211 | |||||||||||||||||||||||||||||||||||||||
Automotive interest expense | (403 | ) | ||||||||||||||||||||||||||||||||||||||
Gain on extinguishment of debt | 202 | |||||||||||||||||||||||||||||||||||||||
Net income attributable to noncontrolling interests | 69 | |||||||||||||||||||||||||||||||||||||||
Income before income taxes | $ | 4,246 | ||||||||||||||||||||||||||||||||||||||
Equity in net assets of nonconsolidated affiliates | $ | 88 | $ | 6 | $ | 8,254 | $ | 2 | $ | — | $ | — | $ | 8,350 | $ | — | $ | — | $ | 8,350 | ||||||||||||||||||||
Total assets | $ | 92,864 | $ | 10,528 | $ | 22,949 | $ | 10,066 | $ | 24,368 | $ | (29,041 | ) | $ | 131,734 | $ | 47,861 | $ | (1,918 | ) | $ | 177,677 | ||||||||||||||||||
Expenditures for property | $ | 4,985 | $ | 887 | $ | 681 | $ | 359 | $ | 127 | $ | — | $ | 7,039 | $ | 52 | $ | — | $ | 7,091 | ||||||||||||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | $ | 4,376 | $ | 627 | $ | 740 | $ | 386 | $ | 75 | $ | (4 | ) | $ | 6,200 | $ | 918 | $ | — | $ | 7,118 | |||||||||||||||||||
Equity income (loss) | $ | 19 | $ | (45 | ) | $ | 2,120 | $ | — | $ | — | $ | — | $ | 2,094 | $ | — | $ | — | $ | 2,094 | |||||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||||||||||
(a) | Consists of a catch-up adjustment related to the change in estimate for recall campaigns of $874 million and charges related to flood damage, net of insurance recoveries, of $101 million in GMNA; asset impairment charges of $245 million related to our Russian subsidiaries in GME; asset impairment charges of $158 million related to our Thailand subsidiary in GMIO; Venezuela currency devaluation charges of $419 million and Goodwill impairment charges of $120 million in GMSA; a charge related to the ignition switch recall compensation program of $400 million in Corporate; and other of $10 million. | |||||||||||||||||||||||||||||||||||||||
At and For the Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||
GMNA | GME | GMIO | GMSA | Corporate | Eliminations | Total Automotive | GM Financial | Eliminations | Total | |||||||||||||||||||||||||||||||
Sales | ||||||||||||||||||||||||||||||||||||||||
External customers | $ | 95,091 | $ | 21,962 | $ | 18,411 | $ | 16,478 | $ | 150 | $ | 152,092 | $ | — | $ | — | $ | 152,092 | ||||||||||||||||||||||
GM Financial revenue | — | — | — | — | — | — | 3,344 | (9 | ) | 3,335 | ||||||||||||||||||||||||||||||
Intersegment | 8 | — | — | — | — | 8 | — | (8 | ) | — | ||||||||||||||||||||||||||||||
Total net sales and revenue | $ | 95,099 | $ | 21,962 | $ | 18,411 | $ | 16,478 | $ | 150 | $ | 152,100 | $ | 3,344 | $ | (17 | ) | $ | 155,427 | |||||||||||||||||||||
Income (loss) before interest and taxes-adjusted | $ | 7,461 | $ | (869 | ) | $ | 1,255 | $ | 327 | $ | (494 | ) | $ | 7,680 | $ | 898 | $ | — | $ | 8,578 | ||||||||||||||||||||
Adjustments(a) | $ | (100 | ) | $ | 153 | $ | (1,169 | ) | $ | (157 | ) | $ | 483 | $ | (790 | ) | $ | (15 | ) | $ | — | (805 | ) | |||||||||||||||||
Automotive interest income | 246 | |||||||||||||||||||||||||||||||||||||||
Automotive interest expense | (334 | ) | ||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | (212 | ) | ||||||||||||||||||||||||||||||||||||||
Net loss attributable to noncontrolling interests | (15 | ) | ||||||||||||||||||||||||||||||||||||||
Income before income taxes | $ | 7,458 | ||||||||||||||||||||||||||||||||||||||
Equity in net assets of nonconsolidated affiliates | $ | 74 | $ | 95 | $ | 7,921 | $ | 4 | $ | — | $ | — | $ | 8,094 | $ | — | $ | — | $ | 8,094 | ||||||||||||||||||||
Total assets | $ | 87,978 | $ | 11,276 | $ | 22,100 | $ | 11,488 | $ | 26,460 | $ | (29,252 | ) | $ | 130,050 | $ | 38,084 | $ | (1,790 | ) | $ | 166,344 | ||||||||||||||||||
Expenditures for property | $ | 5,466 | $ | 818 | $ | 724 | $ | 444 | $ | 92 | $ | 5 | $ | 7,549 | $ | 16 | $ | — | $ | 7,565 | ||||||||||||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | $ | 4,216 | $ | 426 | $ | 1,786 | $ | 522 | $ | 63 | $ | (1 | ) | $ | 7,012 | $ | 498 | $ | (10 | ) | $ | 7,500 | ||||||||||||||||||
Equity income | $ | 15 | $ | 34 | $ | 1,760 | $ | 1 | $ | — | $ | — | $ | 1,810 | $ | — | $ | — | $ | 1,810 | ||||||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||||||||||
(a) | Consists of pension settlement charges of $56 million and charges related to PSA product development agreement of $49 million in GMNA; gain on sale of equity investment in PSA of $152 million in GME; property and intangible asset impairment charges of $774 million, costs related to the withdrawal of the Chevrolet brand in Europe of $621 million and goodwill impairment charges of $442 million, partially offset by GM Korea hourly wage litigation of $577 million and acquisition of GM Korea preferred shares of $67 million in GMIO, all net of noncontrolling interests; Venezuela currency devaluation charges of $162 million in GMSA; gain on sale of equity investment in Ally Financial of $483 million in Corporate; costs related to the withdrawal of the Chevrolet brand in Europe of $15 million in GM Financial; and income related to various insurance recoveries of $35 million. | |||||||||||||||||||||||||||||||||||||||
At and For the Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
GMNA | GME | GMIO | GMSA | Corporate | Eliminations | Total Automotive | GM Financial | Eliminations | Total | |||||||||||||||||||||||||||||||
Sales | ||||||||||||||||||||||||||||||||||||||||
External customers | $ | 89,912 | $ | 23,055 | $ | 20,588 | $ | 16,700 | $ | 40 | $ | 150,295 | $ | — | $ | — | $ | 150,295 | ||||||||||||||||||||||
GM Financial revenue | — | — | — | — | — | — | 1,961 | — | 1,961 | |||||||||||||||||||||||||||||||
Intersegment | (2 | ) | — | — | — | — | (2 | ) | — | 2 | — | |||||||||||||||||||||||||||||
Total net sales and revenue | $ | 89,910 | $ | 23,055 | $ | 20,588 | $ | 16,700 | $ | 40 | $ | 150,293 | $ | 1,961 | $ | 2 | $ | 152,256 | ||||||||||||||||||||||
Income (loss) before interest and taxes-adjusted | $ | 6,470 | $ | (1,949 | ) | $ | 2,538 | $ | 457 | $ | (400 | ) | $ | 7,116 | $ | 744 | $ | (1 | ) | $ | 7,859 | |||||||||||||||||||
Adjustments(a) | $ | (29,052 | ) | $ | (6,389 | ) | $ | (290 | ) | $ | 27 | $ | (402 | ) | $ | (36,106 | ) | $ | — | $ | — | (36,106 | ) | |||||||||||||||||
Automotive interest income | 343 | |||||||||||||||||||||||||||||||||||||||
Automotive interest expense | (489 | ) | ||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | (250 | ) | ||||||||||||||||||||||||||||||||||||||
Net loss attributable to noncontrolling interests | (52 | ) | ||||||||||||||||||||||||||||||||||||||
Loss before income taxes | $ | (28,695 | ) | |||||||||||||||||||||||||||||||||||||
Equity in net assets of nonconsolidated affiliates | $ | 65 | $ | 159 | $ | 6,656 | $ | 3 | $ | — | $ | — | $ | 6,883 | $ | — | $ | — | $ | 6,883 | ||||||||||||||||||||
Total assets | $ | 87,100 | $ | 10,475 | $ | 24,147 | $ | 11,958 | $ | 16,991 | $ | (16,927 | ) | $ | 133,744 | $ | 16,368 | $ | (690 | ) | $ | 149,422 | ||||||||||||||||||
Expenditures for property | $ | 4,766 | $ | 1,075 | $ | 1,185 | $ | 956 | $ | 77 | $ | (4 | ) | $ | 8,055 | $ | 13 | $ | — | $ | 8,068 | |||||||||||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | $ | 3,663 | $ | 6,584 | $ | 624 | $ | 483 | $ | 49 | $ | (1 | ) | $ | 11,402 | $ | 225 | $ | (10 | ) | $ | 11,617 | ||||||||||||||||||
Equity income | $ | 9 | $ | 35 | $ | 1,517 | $ | 1 | $ | — | $ | — | $ | 1,562 | $ | — | $ | — | $ | 1,562 | ||||||||||||||||||||
Valuation allowances against deferred tax assets(b) | $ | — | $ | — | $ | — | $ | — | $ | (36,261 | ) | $ | — | $ | (36,261 | ) | $ | (103 | ) | $ | — | $ | (36,364 | ) | ||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||||||||||
(a) | Consists primarily of Goodwill impairment charges of $26.4 billion, pension settlement charges of $2.7 billion and income related to various insurance recoveries of $9 million in GMNA; property impairment charges of $3.7 billion, intangible assets impairment charges of $1.8 billion, goodwill impairment charges of $590 million, impairment charges related to investment in PSA of $220 million, a charge of $119 million to record General Motors Strasbourg S.A.S. assets and liabilities to estimated fair value and income related to various insurance recoveries of $9 million in GME; GM Korea hourly wage litigation charge of $336 million, goodwill impairment charges of $132 million, which are presented net of noncontrolling interests, income related to various insurance recoveries of $110 million and income related to redemption of the GM Korea mandatorily redeemable preferred shares of $68 million in GMIO; income related to various insurance recoveries of $27 million in GMSA; and a charge of $402 million which represents the premium paid to purchase our common stock from the UST in Corporate. | |||||||||||||||||||||||||||||||||||||||
(b) | Includes valuation allowance releases of $36.5 billion net of the establishment of new valuation allowances of $0.1 billion. Amounts exclude changes related to income tax expense (benefits) in jurisdictions with a full valuation allowance throughout the period. | |||||||||||||||||||||||||||||||||||||||
Automotive revenue is attributed to geographic areas based on the country in which our subsidiary is located. Automotive Financing revenue is attributed to the geographic area where the financing is originated. The following table summarizes information concerning principal geographic areas (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||
At and For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Net Sales & Revenue | Long-Lived Assets | Net Sales & Revenue | Long-Lived Assets | Net Sales & Revenue | Long-Lived Assets | |||||||||||||||||||||||||||||||||||
Automotive | ||||||||||||||||||||||||||||||||||||||||
U.S. | $ | 93,559 | $ | 18,813 | $ | 88,784 | $ | 15,844 | $ | 85,105 | $ | 13,520 | ||||||||||||||||||||||||||||
Non-U.S. | 57,533 | 12,355 | 63,308 | 12,289 | 65,190 | 12,425 | ||||||||||||||||||||||||||||||||||
GM Financial | ||||||||||||||||||||||||||||||||||||||||
U.S. | 2,549 | 5,477 | 2,233 | 2,472 | 1,832 | 1,112 | ||||||||||||||||||||||||||||||||||
Non-U.S. | 2,288 | 1,755 | 1,102 | 1,043 | 129 | 590 | ||||||||||||||||||||||||||||||||||
Total consolidated | $ | 155,929 | $ | 38,400 | $ | 155,427 | $ | 31,648 | $ | 152,256 | $ | 27,647 | ||||||||||||||||||||||||||||
No individual country other than the U.S. represented more than 10% of our total Net sales and revenue or Long-lived assets. |
Supplemental_Information_for_t
Supplemental Information for the Consolidated Statements of Cash Flows | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Supplemental Cash Flow Information [Abstract] | ||||||||||||
Supplemental Information for the Consolidated Statements of Cash Flows [Text Block] | Supplemental Information for the Consolidated Statements of Cash Flows | |||||||||||
The following table summarizes the sources (uses) of cash provided by Change in other operating assets and liabilities and cash paid for income taxes and interest (dollars in millions): | ||||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Accounts receivable | $ | (1,248 | ) | $ | 8 | $ | (460 | ) | ||||
Purchases of wholesale receivables, net | (2,000 | ) | — | — | ||||||||
Inventories | (309 | ) | 59 | (326 | ) | |||||||
Automotive equipment on operating leases | (1,949 | ) | (968 | ) | 370 | |||||||
Change in other assets | (213 | ) | (563 | ) | (312 | ) | ||||||
Accounts payable | 19 | (485 | ) | 162 | ||||||||
Income taxes payable | (145 | ) | (161 | ) | 155 | |||||||
Accrued liabilities and other liabilities | 6,089 | 784 | 1,041 | |||||||||
Total | $ | 244 | $ | (1,326 | ) | $ | 630 | |||||
Cash paid for income taxes and interest | ||||||||||||
Cash paid for income taxes | $ | 947 | $ | 727 | $ | 575 | ||||||
Cash paid for interest (net of amounts capitalized) - Automotive | $ | 301 | $ | 299 | $ | 335 | ||||||
Cash paid for interest (net of amounts capitalized) - GM Financial | 1,120 | 760 | 298 | |||||||||
Total cash paid for interest (net of amounts capitalized) | $ | 1,421 | $ | 1,059 | $ | 633 | ||||||
Nature_Of_Operations_and_Basis1
Nature Of Operations and Basis of Presentation (Policies) | 12 Months Ended |
Dec. 31, 2014 | |
Nature of Operations and Basis of Presentation [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation |
The consolidated financial statements are prepared in conformity with U.S. GAAP. All intercompany balances and transactions have been eliminated in consolidation. Certain prior year amounts were reclassified to conform to our current year presentation. In the three months ended March 31, 2014 we changed our managerial and financial reporting structure to reclassify the results of our Russian subsidiaries previously reported in our GMIO segment to our GME segment. We have retrospectively revised the segment presentation for all periods presented. Refer to Note 25 for additional information on our segment reporting. | |
We consolidate entities that we control due to ownership of a majority voting interest and we consolidate variable interest entities (VIEs) when we have variable interests and are the primary beneficiary. We continually evaluate our involvement with VIEs to determine when these criteria are met. Our share of earnings or losses of nonconsolidated affiliates is included in our consolidated operating results using the equity method of accounting when we are able to exercise significant influence over the operating and financial decisions of the affiliate. We use the cost method of accounting if we are not able to exercise significant influence over the operating and financial decisions of the affiliate. | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates in the Preparation of the Financial Statements |
Accounting estimates are an integral part of the consolidated financial statements. These estimates require the use of judgments and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses in the periods presented. We believe that the accounting estimates employed are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates actual results could differ from the original estimates, requiring adjustments to these balances in future periods. | |
Change in Accounting Estimate | |
We historically accrued estimated costs related to recall campaigns in GMNA when they are probable and reasonably estimable, which typically occurs once it is determined a specific recall campaign is needed and announced. During the three months ended June 30, 2014, following the significant increase in the number of vehicles subject to recall in GMNA, the results of our ongoing comprehensive safety review, additional engineering analysis, the creation of a new Global Product Integrity organization, the appointment of a new Global Vice President of Vehicle Safety responsible for the safety development of our vehicle systems and our overall commitment to customer satisfaction, we accumulated sufficient historical data in GMNA to support the use of an actuarial-based estimation technique for recall campaigns. As such we now accrue at the time of vehicle sale in GMNA the costs for recall campaigns. Based on expanded historical data, we recorded a catch-up adjustment of $874 million in Automotive cost of sales in the three months ended June 30, 2014 to adjust the estimate for recall costs for previously sold vehicles. In other geographical regions the historical claims data did not support the application of an actuarial-based model; therefore, recall campaigns are accrued when probable and reasonably estimable, which typically occurs once it is determined a specific recall campaign is needed and announced. |
Significant_Accounting_Policie1
Significant Accounting Policies (Policies) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Accounting Policies [Abstract] | ||||||||||||
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition | |||||||||||
Automotive | ||||||||||||
Automotive net sales and revenue are primarily composed of revenue generated from the sale of vehicles. Vehicle sales are recorded when title and all risks and rewards of ownership have passed to our customers. For the majority of our automotive sales this occurs when a vehicle is released to the carrier responsible for transporting to a dealer and when collectability is reasonably assured. Vehicle sales are recorded when the vehicle is delivered to the dealer in most remaining cases. Provisions for recurring or announced dealer and customer sales and leasing incentives, consisting of allowances and rebates, are recorded as reductions to Automotive net sales and revenue at the time of vehicle sales. All other incentives, allowances and rebates related to vehicles previously sold are recorded as reductions to Automotive net sales and revenue when announced. | ||||||||||||
Vehicle sales to daily rental car companies with guaranteed repurchase obligations are accounted for as operating leases. Estimated lease revenue is recorded ratably over the estimated term of the lease based on the difference between net sales proceeds and the guaranteed repurchase amount. The difference between the cost of the vehicle and estimated residual value is depreciated on a straight-line basis over the estimated term of the lease. | ||||||||||||
Automotive Financing - GM Financial | ||||||||||||
Finance charge income earned on receivables is recognized using the effective interest method for consumer financing receivables and accrual method for commercial financing receivables. Fees and commissions (including incentive payments) received and direct costs of originating loans are deferred and amortized over the term of the related finance receivables using the effective interest method and are removed from the consolidated balance sheets when the related finance receivables are sold, charged off or paid in full. Accrual of finance charge income on consumer finance receivables is generally suspended on accounts that are more than 60 days delinquent, accounts in bankruptcy and accounts in repossession. Payments received on nonaccrual loans are first applied to any fees due, then to any interest due and then any remaining amounts are recorded to principal. Interest accrual generally resumes once an account has received payments bringing the delinquency to less than 60 days past due. Accrual of finance charge income on commercial finance receivables is generally suspended on accounts that are more than 90 days delinquent, upon receipt of a bankruptcy notice from a borrower, or where reasonable doubt about the full collectability of contractually agreed upon principal and interest exist. Payments received on nonaccrual loans are first applied to principal. Interest accrual resumes once an account has received payments bringing the account fully current and collection of contractual principal and interest is reasonably assured (including amounts previously charged-off) or, for troubled debt restructurings (TDRs), when repayment is reasonably assured based on the modified terms of the loan. | ||||||||||||
Income from operating lease assets, which includes lease origination fees, net of lease origination costs and incentives, is recorded as operating lease revenue on a straight-line basis over the term of the lease agreement. | ||||||||||||
Advertising and Promotion, Policy [Policy Text Block] | Advertising and Promotion Expenditures | |||||||||||
Advertising and promotion expenditures, which are expensed as incurred in Automotive selling, general and administrative expense, were $5.2 billion, $5.5 billion and $5.4 billion in the years ended December 31, 2014, 2013 and 2012. | ||||||||||||
Research and Development Expenditures, Policy [Policy Text Block] | Research and Development Expenditures | |||||||||||
Research and development expenditures, which are expensed as incurred in Automotive cost of sales, were $7.4 billion, $7.2 billion and $7.4 billion in the years ended December, 31 2014, 2013 and 2012. | ||||||||||||
Cash Equivalents, Policy [Policy Text Block] | Cash Equivalents | |||||||||||
Cash equivalents are defined as short-term, highly-liquid investments with original maturities of 90 days or less. | ||||||||||||
Allowance for Doubtful Accounts [Policy Text Block] | Allowance for Doubtful Accounts | |||||||||||
We record an allowance for doubtful accounts based on our best estimate of recoverability of receivables. Charges related to the allowance for doubtful accounts are recorded in Automotive selling, general and administrative expense. The following table summarizes activity in our allowance for doubtful accounts and notes receivable related to our automotive operations (dollars in millions): | ||||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Balance at beginning of period | $ | 344 | $ | 311 | $ | 331 | ||||||
Amounts charged (credited) to costs and expenses | 50 | 61 | (10 | ) | ||||||||
Deductions | (8 | ) | (24 | ) | (46 | ) | ||||||
Effect of foreign currency and other | (46 | ) | (4 | ) | 36 | |||||||
Balance at end of period | $ | 340 | $ | 344 | $ | 311 | ||||||
Fair Value Measurements, Policy [Policy Text Block] | Fair Value Measurements | |||||||||||
A three-level valuation hierarchy, based upon observable and unobservable inputs, is used for fair value measurements. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions based on the best evidence available. These two types of inputs create the following fair value hierarchy: | ||||||||||||
• | Level 1 - Quoted prices for identical instruments in active markets; | |||||||||||
• | Level 2 - Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active and model-derived valuations whose significant inputs are observable; and | |||||||||||
• | Level 3 - Instruments whose significant inputs are unobservable. | |||||||||||
Financial instruments are transferred in and/or out of Level 1, 2 or 3 at the beginning of the accounting period in which there is a change in the valuation inputs. | ||||||||||||
Marketable Securities, Policy [Policy Text Block] | Marketable Securities | |||||||||||
We classify marketable securities as available-for-sale or trading. Various factors, including turnover of holdings and investment guidelines, are considered in determining the classification of securities. Available-for-sale securities are recorded at fair value with unrealized gains and losses recorded net of related income taxes in Accumulated other comprehensive loss until realized. Trading securities are recorded at fair value with changes in fair value recorded in Interest income and other non-operating income, net. We determine realized gains and losses for all securities using the specific identification method. | ||||||||||||
We measure the fair value of our marketable securities using a market approach where identical or comparable prices are available and an income approach in other cases. If quoted market prices are not available, fair values of securities are determined using prices from a pricing service, pricing models, quoted prices of securities with similar characteristics or discounted cash flow models. These prices represent non-binding quotes. Our pricing service utilizes industry-standard pricing models that consider various inputs. We conduct an annual review of our pricing service. Based on our review we believe the prices received from our pricing service are a reliable representation of exit prices. | ||||||||||||
An evaluation is made quarterly to determine if unrealized losses related to non-trading investments in securities are other-than-temporary. Factors considered in determining whether a loss on a marketable security is other-than-temporary include: (1) the length of time and extent to which the fair value has been below cost; (2) the financial condition and near-term prospects of the issuer; and (3) the intent to sell or likelihood to be forced to sell the security before any anticipated recovery. | ||||||||||||
Finance Receivable, Policy [Policy Text Block] | Finance Receivables | |||||||||||
As the result of our October 2010 acquisition of GM Financial and GM Financial's acquisition of the Ally Financial international operations, finance receivables are reported in two portfolios: pre-acquisition and post-acquisition portfolios. The pre-acquisition finance receivables portfolio consists of finance receivables that were considered to have had deterioration in credit quality at the time they were acquired with the acquisitions of GM Financial or the Ally Financial international operations. The pre-acquisition portfolio will decrease over time with the amortization of the acquired receivables. The post-acquisition finance receivables portfolio consists of finance receivables that were considered to have had no deterioration in credit quality at the time they were acquired with the acquisition of the Ally Financial international operations and finance receivables originated since the acquisitions of GM Financial and the Ally Financial international operations. The post-acquisition portfolio is expected to grow over time as GM Financial originates new receivables. | ||||||||||||
Pre-Acquisition Consumer Finance Receivables | ||||||||||||
At the time of acquisitions the receivables were recorded at fair value. The pre-acquisition finance receivables were acquired at a discount, which contains two components: a non-accretable difference and an accretable yield. The accretable yield is recorded as finance charge income over the life of the acquired receivables. | ||||||||||||
Any deterioration in the performance of the pre-acquisition finance receivables from their expected performance will result in an incremental provision for loan losses. Improvements in the performance of the pre-acquisition finance receivables will result first in the reversal of any incremental related allowance for loan losses and then in a transfer of the excess from the non-accretable difference to accretable yield, which will be recorded as finance charge income over the remaining life of the receivables. | ||||||||||||
Post-Acquisition Consumer Finance Receivables and Allowance for Loan Losses | ||||||||||||
Post-acquisition finance receivables originated since the acquisitions of GM Financial and the Ally Financial international operations are carried at amortized cost, net of allowance for loan losses. | ||||||||||||
The component of the allowance for consumer finance receivables that is collectively evaluated for impairment is based on a statistical calculation supplemented by management judgment. GM Financial uses a combination of forecasting models to determine the allowance for loan losses. Factors that are considered when estimating the allowance include loss confirmation period, historical delinquency migration to loss, probability of default and loss given default. The loss confirmation period is a key assumption within the models, which represents the average amount of time from when a loss event first occurs to when the receivable is charged-off. | ||||||||||||
Consumer finance receivables that become classified as TDRs are separately assessed for impairment. A specific allowance is estimated based on the present value of the expected future cash flows of the receivable discounted at the loan's original effective interest rate. | ||||||||||||
Consumer finance receivables are generally charged off in the month in which the account becomes 120 days contractually delinquent if we have not yet recorded a repossession charge-off. A charge-off generally represents the difference between the estimated net sales proceeds and the amount of the contract, including accrued interest. | ||||||||||||
The finance receivables acquired with the Ally Financial international operations that were considered to have no deterioration in credit quality at the time of acquisition were recorded at fair value. The purchase discount will accrete to income over the life of the receivables, based on contractual cash flows, using the effective interest method. Provisions for loan losses are charged to operations in amounts equal to net credit losses for the period. Any subsequent deterioration in the performance of the acquired receivables will result in an incremental provision for loan losses. | ||||||||||||
Inventory, Policy [Policy Text Block] | Inventory | |||||||||||
Inventories are stated at the lower of cost or market. Market, which represents selling price less cost to sell, considers general market and economic conditions, periodic reviews of current profitability of vehicles, product warranty costs and the effect of current and expected incentive offers at the balance sheet date. Market for off-lease and other vehicles is current auction sales proceeds less disposal and warranty costs. Productive material, work in process, supplies and service parts are reviewed to determine if inventory quantities are in excess of forecasted usage or if they have become obsolete. | ||||||||||||
Equipment on Operating Leases, net, Policy [Policy Text Block] | Equipment on Operating Leases, net | |||||||||||
Equipment on operating leases, net is reported at cost, less accumulated depreciation and impairment, net of origination fees or costs and lease incentives. Estimated income from operating lease assets, which includes lease origination fees, net of lease origination costs, is recorded as operating lease revenue on a straight-line basis over the term of the lease agreement. Leased vehicles are depreciated on a straight-line basis to an estimated residual value over the term of the lease agreements. | ||||||||||||
We have significant investments in vehicles in operating lease portfolios, which are composed of vehicle leases to retail customers with lease terms of up to 60 months and vehicles leased to rental car companies with lease terms that average eight months or less. We are exposed to changes in the residual values of those assets. For impairment purposes the residual values represent estimates of the values of the vehicles leased at the end of the lease contracts and are determined based on forecasted auction proceeds when there is a reliable basis to make such a determination. Realization of the residual values is dependent on the future ability to market the vehicles under the prevailing market conditions. The adequacy of the estimate of the residual value is evaluated over the life of the lease and adjustments may be made to the extent the expected value of the vehicle at lease termination changes. Adjustments may be in the form of revisions to the depreciation rate or recognition of an impairment charge. Impairment is determined to exist if the expected future cash flows, which include estimated residual values, are lower than the carrying amount of the vehicles leased. If the carrying amount is considered impaired an impairment charge is recorded for the amount by which the carrying amount exceeds the fair value. Fair value is determined primarily using the anticipated cash flows, including estimated residual values. | ||||||||||||
In our automotive operations when a leased vehicle is returned the asset is reclassified from Equipment on operating leases, net to Inventories at the lower of cost or estimated selling price, less cost to sell. Upon disposition proceeds are recorded in Automotive net sales and revenue and costs are recorded in Automotive cost of sales. In our automotive finance operations when a leased vehicle is returned or repossessed the asset is recorded in Other assets at the lower of cost or estimated selling price, less costs to sell. Upon disposition a gain or loss is recorded for any difference between the net book value of the leased asset and the proceeds from the disposition of the asset. | ||||||||||||
Depreciation expense and impairment charges related to Equipment on operating leases, net are recorded in Automotive cost of sales or GM Financial operating and other expenses. | ||||||||||||
Valuation of Cost and Equity Method Investments, Policy [Policy Text Block] | Valuation of Cost and Equity Method Investments | |||||||||||
When events and circumstances warrant, investments accounted for under the cost or equity method of accounting are evaluated for impairment. An impairment charge is recorded whenever a decline in value of an investment below its carrying amount is determined to be other-than-temporary. Impairment charges related to equity method investments are recorded in Equity income. Impairment charges related to cost method investments are recorded in Interest income and other non-operating income, net. | ||||||||||||
Property, net, Policy [Policy Text Block] | Property, net | |||||||||||
Property, plant and equipment, including internal use software, is recorded at cost. Major improvements that extend the useful life or add functionality of property are capitalized. The gross amount of assets under capital leases is included in property, plant and equipment. Expenditures for repairs and maintenance are charged to expense as incurred. We depreciate all depreciable property using the straight-line method. Leasehold improvements are amortized over the period of lease or the life of the asset, whichever is shorter. The amortization of the assets under capital leases is included in depreciation expense. Upon retirement or disposition of property, plant and equipment, the cost and related accumulated depreciation are removed from the accounts and any resulting gain or loss is recorded in earnings. Impairment charges related to property are recorded in Automotive cost of sales, Automotive selling, general and administrative expense or GM Financial operating and other expenses. | ||||||||||||
Special Tools | ||||||||||||
Special tools represent product-specific powertrain and non-powertrain related tools, dies, molds and other items used in the vehicle manufacturing process. Expenditures for special tools are recorded at cost and are capitalized. We amortize all non-powertrain special tools over their estimated useful lives using an accelerated amortization method. We amortize powertrain special tools over their estimated useful lives using the straight-line method. Impairment charges related to special tools are recorded in Automotive cost of sales. | ||||||||||||
Goodwill, Policy [Policy Text Block] | Goodwill | |||||||||||
Goodwill arises from the application of fresh-start reporting and acquisitions accounted for as business combinations. Goodwill is tested for impairment for all reporting units on an annual basis as of October 1, or more frequently if events occur or circumstances change that would warrant such a review. Our reporting units are GMNA and GME and various reporting units within the GMIO, GMSA and GM Financial segments. When performing our goodwill impairment testing, the fair values of our reporting units are determined based on valuation techniques using the best available information, primarily discounted cash flow projections. We make significant assumptions and estimates, which utilize Level 3 measures, about the extent and timing of future cash flows, growth rates, market share and discount rates that represent unobservable inputs into our valuation methodologies. Our fair value estimates for annual and event-driven impairment tests assume the achievement of the future financial results contemplated in our forecasted cash flows and there can be no assurance that we will realize that value. The valuation methodologies utilized to perform our goodwill impairment testing were consistent with those used in our application of fresh-start reporting on July 10, 2009 and in any subsequent annual or event-driven goodwill impairment tests and utilized Level 3 measures. Because the fair value of goodwill can be measured only as a residual amount and cannot be determined directly we calculate the implied goodwill for those reporting units failing Step 1 in the same manner that goodwill is recognized in a business combination pursuant to Accounting Standards Codification (ASC) 805. | ||||||||||||
Intangible Assets, net Policy [Policy Text Block] | Intangible Assets, net | |||||||||||
Intangible assets, excluding goodwill, primarily include brand names, technology and intellectual property, customer relationships and dealer networks. Intangible assets are amortized on a straight-line or an accelerated method of amortization over their estimated useful lives. An accelerated amortization method reflecting the pattern in which the asset will be consumed is utilized if that pattern can be reliably determined. We consider the period of expected cash flows and underlying data used to measure the fair value of the intangible assets when selecting a useful life. Impairment charges related to intangible assets are recorded in Automotive selling, general and administrative expense or Automotive cost of sales. Amortization of developed technology and intellectual property is recorded in Automotive cost of sales. Amortization of brand names, customer relationships and our dealer networks is recorded in Automotive selling, general and administrative expense or GM Financial operating and other expenses. | ||||||||||||
Valuation of Long-Lived Assets, Policy [Policy Text Block] | Valuation of Long-Lived Assets | |||||||||||
The carrying amount of long-lived assets and finite-lived intangible assets to be held and used in the business are evaluated for impairment when events and circumstances warrant. If the carrying amount of a long-lived asset group is considered impaired, a loss is recorded based on the amount by which the carrying amount exceeds fair value. Product-specific long-lived asset groups are tested for impairment at the platform or vehicle line level and consider their geographical location. Non-product specific long-lived assets are tested for impairment on a reporting unit basis in GMNA and GME and tested at or within our various reporting units within our GMIO, GMSA and GM Financial segments. Fair value is determined using either the market or sales comparison approach, cost approach or anticipated cash flows discounted at a rate commensurate with the risk involved. Long-lived assets to be disposed of other than by sale are considered held for use until disposition. Product-specific assets may become impaired as a result of declines in profitability due to changes in volume, pricing or costs. | ||||||||||||
Pension and Other Postretirement Plans, Policy [Policy Text Block] | Pension and OPEB Plans | |||||||||||
Attribution, Methods and Assumptions | ||||||||||||
The cost of benefits provided by defined benefit pension plans is recorded in the period employees provide service. The cost of pension plan amendments that provide for benefits already earned by plan participants is amortized over the expected period of benefit which may be: (1) the duration of the applicable collective bargaining agreement specific to the plan; (2) expected future working lifetime; or (3) the life expectancy of the plan participants. | ||||||||||||
The cost of medical, dental, legal service and life insurance benefits provided through postretirement benefit plans is recorded in the period employees provide service. The cost of postretirement plan amendments that provide for benefits already earned by plan participants is amortized over the expected period of benefit which may be: (1) the average period to full eligibility; (2) the average life expectancy of the plan participants; or (3) the period to the plan's termination date for a plan which provides legal services. | ||||||||||||
An expected return on plan asset methodology is utilized to calculate future pension expense for certain significant funded benefit plans. A market-related value of plan assets methodology is also utilized that averages gains and losses on the plan assets over a period of years to determine future pension expense. The methodology recognizes 60% of the difference between the fair value of assets and the expected calculated value in the first year and 10% of that difference over each of the next four years. | ||||||||||||
The discount rate assumption is established for each of the retirement-related benefit plans at their respective measurement dates. In the U.S. we use a cash flow matching approach that uses projected cash flows matched to spot rates along a high quality corporate yield curve to determine the present value of cash flows to calculate a single equivalent discount rate. | ||||||||||||
The benefit obligation for pension plans in Canada, the United Kingdom and Germany represents 92% of the non-U.S. pension benefit obligation at December 31, 2014. The discount rates for plans in Canada, the United Kingdom and Germany are determined using a cash flow matching approach similar to the U.S. approach. | ||||||||||||
Plan Asset Valuation | ||||||||||||
Due to the lack of timely available market information for certain investments in the asset classes described below as well as the inherent uncertainty of valuation, reported fair values may differ from fair values that would have been used had timely available market information been available. | ||||||||||||
Cash Equivalents and Other Short-Term Investments | ||||||||||||
Money market funds and other similar short-term investment funds are valued using the net asset value per share (NAV). Prices for short-term debt securities are received from independent pricing services or from dealers who make markets in such securities. Independent pricing services utilize matrix pricing which considers readily available inputs such as the yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices. Money market mutual funds which provide investors with the ability to redeem their interests on a daily basis and for which NAVs are publicly available are classified in Level 1. Other cash equivalents and short-term investments are classified in Level 2. | ||||||||||||
Common and Preferred Stock | ||||||||||||
Common and preferred stock for which market prices are readily available at the measurement date are valued at the last reported sale price or official closing price on the primary market or exchange on which they are actively traded and are classified in Level 1. Such equity securities for which the market is not considered to be active are valued via the use of observable inputs, which may include, among others, the use of adjusted market prices last available, bids or last available sales prices and/or other observable inputs and are classified in Level 2. Common and preferred stock classified in Level 3 are those privately issued securities or other issues that are valued via the use of valuation models using significant unobservable inputs that generally consider among others, aged (stale) pricing, earnings multiples, discounted cash flows and/or other qualitative and quantitative factors. | ||||||||||||
Fixed Income Securities | ||||||||||||
Fixed income securities are valued based on quotations received from independent pricing services or from dealers who make markets in such securities. Debt securities which are priced via the use of pricing services that utilize matrix pricing which considers readily observable inputs such as the yield or price of bonds of comparable quality, coupon, maturity and type as well as dealer supplied prices, are classified in Level 2. Fixed income securities within this category that are typically priced by dealers and pricing services via the use of proprietary pricing models which incorporate significant unobservable inputs are classified in Level 3. These inputs primarily consist of yield and credit spread assumptions, discount rates, prepayment curves, default assumptions and recovery rates. | ||||||||||||
Investment Funds, Private Equity and Debt Investments and Real Estate Investments | ||||||||||||
Investments in exchange traded funds, real estate investment trusts and mutual funds, for which market quotations are generally readily available, are valued at the last reported sale price, official closing price or publicly available NAV (or its equivalent) on the primary market or exchange on which they are traded and are classified in Level 1. Investments in private investment funds (including hedge funds, private equity funds and real estate funds) are generally valued based on their respective NAV (or its equivalent), as a practical expedient to estimate fair value due to the absence of readily available market prices. Investments in private investment funds, which may be fully redeemed at NAV in the near-term are generally classified in Level 2. Investments in funds, which may not be fully redeemed at NAV in the near-term, are generally classified in Level 3. | ||||||||||||
Direct investments in private equity, private debt and real estate securities are generally valued in good faith via the use of the market approach (earnings multiples from comparable companies) or the income approach (discounted cash flow techniques), and consider inputs such as revenue growth and gross margin assumptions, discount rates, discounts for lack of liquidity, market capitalization rates and the selection of comparable companies. As these valuations incorporate significant unobservable inputs they are classified in Level 3. | ||||||||||||
Fair value estimates for private investment funds, private equity, private debt and real estate investments are provided by the respective investment sponsors or investment advisers and are subsequently reviewed and approved by management. In the event management concludes a reported NAV or fair value estimate (collectively, external valuation) does not reflect fair value or is not determined as of the financial reporting measurement date, we will consider whether and when deemed necessary to make an adjustment at the balance sheet date. In determining whether an adjustment to the external valuation is required, we will review material factors that could affect the valuation, such as changes to the composition or performance of the underlying investments or comparable investments, overall market conditions, expected sale prices for private investments which are probable of being sold in the short-term and other economic factors that may possibly have a favorable or unfavorable effect on the reported external valuation. | ||||||||||||
Derivatives | ||||||||||||
Exchange traded derivatives, such as options and futures, for which market quotations are readily available, are valued at the last reported sale price or official closing price on the primary market or exchange on which they are traded and are classified in Level 1. Over-the-counter derivatives, including but not limited to swaps, swaptions and forwards, which are typically valued through independent pricing services with observable inputs are generally classified in Level 2. Swaps that are cleared by clearinghouses or exchanges are valued with the prices provided by those venues and are generally classified in Level 2. Derivatives classified in Level 3 are typically valued via the use of pricing models which incorporate significant unobservable inputs. The inputs part of the model based valuations may include extrapolated or model-derived assumptions such as volatilities, yield and credit spread assumptions. | ||||||||||||
Other Employee Benefits Policy [Policy Text Block] | Job Security Programs and Extended Disability Benefits | |||||||||||
We have job security programs to provide UAW and Unifor (combined union of the Canadian Auto Workers union and the Communications, Energy and Paperworkers Union of Canada) employees reduced wages and continued coverage under certain employee benefit programs depending on the employee's classification as well as the number of years of service that the employee has accrued. We also provide extended disability benefits for employees currently disabled and those in the active workforce who may become disabled in the form of income replacement, healthcare costs and life insurance premiums. | ||||||||||||
We recognize a liability for job security programs and extended disability benefits over the expected service period using measurement provisions similar to those used to measure our OPEB obligations based on our best estimate of the probable liability at the measurement date. We record actuarial gains and losses immediately in earnings. | ||||||||||||
Stock Incentive Plans, Policy [Policy Text Block] | Stock Incentive Plans | |||||||||||
We measure and record compensation expense for all share-based payment awards based on the award's estimated fair value which is the fair value of our common stock on the date of grant for RSUs and Performance Share Units (PSUs). For awards that do not have an accounting grant date established, the compensation cost is based on the fair value of our common stock at the end of each reporting period. We record compensation cost for the awards on a straight-line basis over the entire vesting period, or for retirement eligible employees over the requisite service period. Salary stock awards granted are fully vested and nonforfeitable upon grant; therefore, compensation cost is recorded on the date of grant. The liability for stock incentive plan awards settled in cash is remeasured to fair value at the end of each reporting period. | ||||||||||||
Policy, Product Warranty and Recall Campaigns, Policy [Policy Text Block] | Policy, Product Warranty and Recall Campaigns | |||||||||||
The estimated costs related to policy and product warranties are accrued at the time products are sold and are charged to Automotive cost of sales. These estimates are established using historical information on the nature, frequency and average cost of claims of each vehicle line or each model year of the vehicle line and assumptions about future activity and events. Revisions are made when necessary based on changes in these factors. The estimated costs related to recall campaigns are accrued at the time of vehicle sale in GMNA and when probable and reasonably estimable in other geographical regions. | ||||||||||||
Income Taxes, Policy [Policy Text Block] | Income Taxes | |||||||||||
The liability method is used in accounting for income taxes. Deferred tax assets and liabilities are recorded for temporary differences between the tax basis of assets and liabilities and their reported amounts in the consolidated financial statements using the statutory tax rates in effect for the year in which the differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recorded in the results of operations in the period that includes the enactment date under the law. | ||||||||||||
Deferred income tax assets are evaluated quarterly to determine if valuation allowances are required or should be adjusted. We establish valuation allowances for deferred tax assets based on a more likely than not standard. The ability to realize deferred tax assets depends on the ability to generate sufficient taxable income within the carryback or carryforward periods provided for in the tax law for each applicable tax jurisdiction. The assessment regarding whether a valuation allowance is required or should be adjusted also considers all available positive and negative evidence factors. It is difficult to conclude a valuation allowance is not required when there is significant objective and verifiable negative evidence, such as cumulative losses in recent years. We utilize a rolling three years of actual and current year results as the primary measure of cumulative losses in recent years. | ||||||||||||
Income tax expense (benefit) for the year is allocated between continuing operations and other categories of income such as Other comprehensive income (loss). In periods in which there is a pre-tax loss from continuing operations and pre-tax income in another income category, the tax benefit allocated to continuing operations is determined by taking into account the pre-tax income of other categories. | ||||||||||||
We record uncertain tax positions on the basis of a two-step process whereby: (1) we determine whether it is more likely than not that the tax positions will be sustained based on the technical merits of the position; and (2) for those tax positions that meet the more likely than not recognition, we recognize the largest amount of tax benefit that is greater than 50% likely to be realized upon ultimate settlement with the related tax authority. We record interest and penalties on uncertain tax positions in Income tax expense (benefit). | ||||||||||||
Foreign Currency Transactions and Translation, Policy [Policy Text Block] | Foreign Currency Transactions and Translation | |||||||||||
The assets and liabilities of foreign subsidiaries that use the local currency as their functional currency are translated to U.S. Dollars based on the current exchange rate prevailing at each balance sheet date and any resulting translation adjustments are included in Accumulated other comprehensive loss. The assets and liabilities of foreign subsidiaries whose local currency is not their functional currency are remeasured from their local currency to their functional currency and then translated to U.S. Dollars. Revenues and expenses are translated into U.S. Dollars using the average exchange rates prevailing for each period presented. | ||||||||||||
Gains and losses arising from foreign currency transactions and the effects of remeasurements discussed in the preceding paragraph are recorded in Automotive cost of sales and GM Financial operating and other expenses unless related to Automotive debt, which are recorded in Interest income and other non-operating income, net. Foreign currency transaction and remeasurement losses were $437 million, $350 million and $117 million in the years ended December 31, 2014, 2013 and 2012. | ||||||||||||
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Not Yet Adopted | |||||||||||
In May 2014 the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers” (ASU 2014-09) which requires companies to recognize revenue when a customer obtains control rather than when companies have transferred substantially all risks and rewards of a good or service. This update is effective for annual reporting periods beginning on or after December 15, 2016 and interim periods therein and requires expanded disclosures. We are currently assessing the impact the adoption of ASU 2014-09 will have on our consolidated financial statements. |
Significant_Accounting_Policie2
Significant Accounting Policies (Tables) (Automotive [Member]) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Automotive [Member] | ||||||||||||
Allowance for Doubtful Accounts [Table Text Block] | The following table summarizes activity in our allowance for doubtful accounts and notes receivable related to our automotive operations (dollars in millions): | |||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Balance at beginning of period | $ | 344 | $ | 311 | $ | 331 | ||||||
Amounts charged (credited) to costs and expenses | 50 | 61 | (10 | ) | ||||||||
Deductions | (8 | ) | (24 | ) | (46 | ) | ||||||
Effect of foreign currency and other | (46 | ) | (4 | ) | 36 | |||||||
Balance at end of period | $ | 340 | $ | 344 | $ | 311 | ||||||
Marketable_Securities_Tables
Marketable Securities (Tables) | 12 Months Ended | |||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||
Marketable Securities [Abstract] | ||||||||||||||||||
Available-for-sale Securities [Table Text Block] | The following table summarizes information regarding marketable securities (dollars in millions): | |||||||||||||||||
Fair Value Level | December 31, 2014 | December 31, 2013 | ||||||||||||||||
Cost | Fair Value | Cost | Fair Value | |||||||||||||||
Cash and cash equivalents | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
U.S. government and agencies | 2 | $ | 1,600 | $ | 1,600 | $ | 1,437 | $ | 1,437 | |||||||||
Sovereign debt | 2 | 774 | 774 | 515 | 515 | |||||||||||||
Money market funds | 1 | 2,480 | 2,480 | 1,262 | 1,262 | |||||||||||||
Corporate debt | 2 | 6,036 | 6,036 | 7,598 | 7,598 | |||||||||||||
Total available-for-sale securities | $ | 10,890 | 10,890 | $ | 10,812 | 10,812 | ||||||||||||
Trading securities | ||||||||||||||||||
Sovereign debt | 2 | 431 | — | |||||||||||||||
Corporate debt | 2 | — | 25 | |||||||||||||||
Total trading securities | 431 | 25 | ||||||||||||||||
Total marketable securities classified as cash equivalents | 11,321 | 10,837 | ||||||||||||||||
Cash, cash equivalents and time deposits | 7,633 | 9,184 | ||||||||||||||||
Total cash and cash equivalents | $ | 18,954 | $ | 20,021 | ||||||||||||||
Marketable securities | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
U.S. government and agencies | 2 | $ | 5,957 | $ | 5,957 | $ | 5,343 | $ | 5,344 | |||||||||
Corporate debt | 2 | 2,000 | 1,998 | 1,889 | 1,891 | |||||||||||||
Total available-for-sale securities | $ | 7,957 | 7,955 | $ | 7,232 | 7,235 | ||||||||||||
Trading securities – sovereign debt | 2 | 1,267 | 1,737 | |||||||||||||||
Total marketable securities | $ | 9,222 | $ | 8,972 | ||||||||||||||
Restricted cash and marketable securities | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
Money market funds | 1 | $ | 1,381 | $ | 1,381 | $ | 897 | $ | 897 | |||||||||
Other | 2 | 45 | 46 | 34 | 35 | |||||||||||||
Total marketable securities classified as restricted cash and marketable securities | $ | 1,426 | 1,427 | $ | 931 | 932 | ||||||||||||
Restricted cash and cash equivalents and time deposits | 846 | 1,144 | ||||||||||||||||
Total restricted cash and marketable securities | $ | 2,273 | $ | 2,076 | ||||||||||||||
Trading Securities (and Certain Trading Assets) [Table Text Block] | The following table summarizes information regarding marketable securities (dollars in millions): | |||||||||||||||||
Fair Value Level | December 31, 2014 | December 31, 2013 | ||||||||||||||||
Cost | Fair Value | Cost | Fair Value | |||||||||||||||
Cash and cash equivalents | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
U.S. government and agencies | 2 | $ | 1,600 | $ | 1,600 | $ | 1,437 | $ | 1,437 | |||||||||
Sovereign debt | 2 | 774 | 774 | 515 | 515 | |||||||||||||
Money market funds | 1 | 2,480 | 2,480 | 1,262 | 1,262 | |||||||||||||
Corporate debt | 2 | 6,036 | 6,036 | 7,598 | 7,598 | |||||||||||||
Total available-for-sale securities | $ | 10,890 | 10,890 | $ | 10,812 | 10,812 | ||||||||||||
Trading securities | ||||||||||||||||||
Sovereign debt | 2 | 431 | — | |||||||||||||||
Corporate debt | 2 | — | 25 | |||||||||||||||
Total trading securities | 431 | 25 | ||||||||||||||||
Total marketable securities classified as cash equivalents | 11,321 | 10,837 | ||||||||||||||||
Cash, cash equivalents and time deposits | 7,633 | 9,184 | ||||||||||||||||
Total cash and cash equivalents | $ | 18,954 | $ | 20,021 | ||||||||||||||
Marketable securities | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
U.S. government and agencies | 2 | $ | 5,957 | $ | 5,957 | $ | 5,343 | $ | 5,344 | |||||||||
Corporate debt | 2 | 2,000 | 1,998 | 1,889 | 1,891 | |||||||||||||
Total available-for-sale securities | $ | 7,957 | 7,955 | $ | 7,232 | 7,235 | ||||||||||||
Trading securities – sovereign debt | 2 | 1,267 | 1,737 | |||||||||||||||
Total marketable securities | $ | 9,222 | $ | 8,972 | ||||||||||||||
Restricted cash and marketable securities | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
Money market funds | 1 | $ | 1,381 | $ | 1,381 | $ | 897 | $ | 897 | |||||||||
Other | 2 | 45 | 46 | 34 | 35 | |||||||||||||
Total marketable securities classified as restricted cash and marketable securities | $ | 1,426 | 1,427 | $ | 931 | 932 | ||||||||||||
Restricted cash and cash equivalents and time deposits | 846 | 1,144 | ||||||||||||||||
Total restricted cash and marketable securities | $ | 2,273 | $ | 2,076 | ||||||||||||||
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | The following table summarizes information regarding marketable securities (dollars in millions): | |||||||||||||||||
Fair Value Level | December 31, 2014 | December 31, 2013 | ||||||||||||||||
Cost | Fair Value | Cost | Fair Value | |||||||||||||||
Cash and cash equivalents | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
U.S. government and agencies | 2 | $ | 1,600 | $ | 1,600 | $ | 1,437 | $ | 1,437 | |||||||||
Sovereign debt | 2 | 774 | 774 | 515 | 515 | |||||||||||||
Money market funds | 1 | 2,480 | 2,480 | 1,262 | 1,262 | |||||||||||||
Corporate debt | 2 | 6,036 | 6,036 | 7,598 | 7,598 | |||||||||||||
Total available-for-sale securities | $ | 10,890 | 10,890 | $ | 10,812 | 10,812 | ||||||||||||
Trading securities | ||||||||||||||||||
Sovereign debt | 2 | 431 | — | |||||||||||||||
Corporate debt | 2 | — | 25 | |||||||||||||||
Total trading securities | 431 | 25 | ||||||||||||||||
Total marketable securities classified as cash equivalents | 11,321 | 10,837 | ||||||||||||||||
Cash, cash equivalents and time deposits | 7,633 | 9,184 | ||||||||||||||||
Total cash and cash equivalents | $ | 18,954 | $ | 20,021 | ||||||||||||||
Marketable securities | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
U.S. government and agencies | 2 | $ | 5,957 | $ | 5,957 | $ | 5,343 | $ | 5,344 | |||||||||
Corporate debt | 2 | 2,000 | 1,998 | 1,889 | 1,891 | |||||||||||||
Total available-for-sale securities | $ | 7,957 | 7,955 | $ | 7,232 | 7,235 | ||||||||||||
Trading securities – sovereign debt | 2 | 1,267 | 1,737 | |||||||||||||||
Total marketable securities | $ | 9,222 | $ | 8,972 | ||||||||||||||
Restricted cash and marketable securities | ||||||||||||||||||
Available-for-sale securities | ||||||||||||||||||
Money market funds | 1 | $ | 1,381 | $ | 1,381 | $ | 897 | $ | 897 | |||||||||
Other | 2 | 45 | 46 | 34 | 35 | |||||||||||||
Total marketable securities classified as restricted cash and marketable securities | $ | 1,426 | 1,427 | $ | 931 | 932 | ||||||||||||
Restricted cash and cash equivalents and time deposits | 846 | 1,144 | ||||||||||||||||
Total restricted cash and marketable securities | $ | 2,273 | $ | 2,076 | ||||||||||||||
Investments Classified by Contractual Maturity Date [Table Text Block] | The following table summarizes the amortized cost and the fair value of investments classified as available-for-sale by contractual maturity at December 31, 2014 (dollars in millions): | |||||||||||||||||
Amortized Cost | Fair Value | |||||||||||||||||
Due in one year or less | $ | 14,461 | $ | 14,461 | ||||||||||||||
Due after one year through five years | 1,951 | 1,950 | ||||||||||||||||
Total contractual maturities of available-for-sale securities | $ | 16,412 | $ | 16,411 | ||||||||||||||
GM_Financial_Receivables_net_T
GM Financial Receivables, net (Tables) (GM Financial [Member]) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Finance Receivables [Line Items] | ||||||||||||||||||||||||
Finance Receivables, Net [Table Text Block] | The following table summarizes the components of consumer and commercial finance receivables, net (dollars in millions): | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Consumer | Commercial | Total | Consumer | Commercial | Total | |||||||||||||||||||
Pre-acquisition finance receivables, outstanding amount | $ | 508 | $ | — | $ | 508 | $ | 1,294 | $ | — | $ | 1,294 | ||||||||||||
Pre-acquisition finance receivables, carrying amount | $ | 459 | $ | — | $ | 459 | $ | 1,174 | $ | — | $ | 1,174 | ||||||||||||
Post-acquisition finance receivables, net of fees | 25,164 | 7,606 | 32,770 | 21,956 | 6,050 | 28,006 | ||||||||||||||||||
Finance receivables | 25,623 | 7,606 | 33,229 | 23,130 | 6,050 | 29,180 | ||||||||||||||||||
Less: allowance for loan losses | (655 | ) | (40 | ) | (695 | ) | (497 | ) | (51 | ) | (548 | ) | ||||||||||||
GM Financial receivables, net | $ | 24,968 | $ | 7,566 | $ | 32,534 | $ | 22,633 | $ | 5,999 | $ | 28,632 | ||||||||||||
Fair value of GM Financial receivables, net | $ | 33,106 | $ | 28,668 | ||||||||||||||||||||
Allowance for loan losses classified as current at December 31, 2014 and 2013 were $529 million and $427 million. | ||||||||||||||||||||||||
Allowance for Doubtful Accounts [Table Text Block] | The following table summarizes activity for the allowance for loan losses on consumer and commercial finance receivables (dollars in millions): | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Balance at beginning of period | $ | 548 | $ | 351 | $ | 179 | ||||||||||||||||||
Provision for loan losses | 604 | 475 | 304 | |||||||||||||||||||||
Charge-offs | (914 | ) | (643 | ) | (304 | ) | ||||||||||||||||||
Recoveries | 470 | 362 | 172 | |||||||||||||||||||||
Effect of foreign currency | (13 | ) | 3 | — | ||||||||||||||||||||
Balance at end of period | $ | 695 | $ | 548 | $ | 351 | ||||||||||||||||||
Consumer Finance Receivable [Member] | ||||||||||||||||||||||||
Finance Receivables [Line Items] | ||||||||||||||||||||||||
Consumer Finance Receivables Delinquency [Table Text Block] | The following table summarizes the contractual amount of delinquent contracts, which is not significantly different than the recorded investment of the consumer finance receivables (dollars in millions): | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Amount | Percent of Contractual Amount Due | Amount | Percent of Contractual Amount Due | |||||||||||||||||||||
31-to-60 days delinquent | $ | 1,083 | 4.2 | % | $ | 952 | 4.1 | % | ||||||||||||||||
Greater-than-60 days delinquent | 432 | 1.7 | % | 408 | 1.7 | % | ||||||||||||||||||
Total finance receivables more than 30 days delinquent | 1,515 | 5.9 | % | 1,360 | 5.8 | % | ||||||||||||||||||
In repossession | 40 | 0.2 | % | 41 | 0.2 | % | ||||||||||||||||||
Total finance receivables more than 30 days delinquent or in repossession | $ | 1,555 | 6.1 | % | $ | 1,401 | 6 | % | ||||||||||||||||
Troubled Debt Restructurings on Finance Receivables [Table Text Block] | The following table summarizes the outstanding recorded investment for consumer finance receivables that are considered to be TDRs and the related allowance (dollars in millions): | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Outstanding recorded investment | $ | 1,234 | $ | 767 | ||||||||||||||||||||
Less: allowance for loan losses | (172 | ) | (103 | ) | ||||||||||||||||||||
Outstanding recorded investment, net of allowance | $ | 1,062 | $ | 664 | ||||||||||||||||||||
Unpaid principal balance | $ | 1,255 | $ | 779 | ||||||||||||||||||||
Commercial Finance Receivables [Member] | ||||||||||||||||||||||||
Finance Receivables [Line Items] | ||||||||||||||||||||||||
Finance Receivables Credit Quality [Table Text Block] | The following table summarizes the credit risk profile by dealer grouping of the commercial finance receivables (dollars in millions): | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Group I - Dealers with superior financial metrics | $ | 1,050 | $ | 549 | ||||||||||||||||||||
Group II - Dealers with strong financial metrics | 2,022 | 1,460 | ||||||||||||||||||||||
Group III - Dealers with fair financial metrics | 2,599 | 1,982 | ||||||||||||||||||||||
Group IV - Dealers with weak financial metrics | 1,173 | 1,462 | ||||||||||||||||||||||
Group V - Dealers warranting special mention due to potential weaknesses | 524 | 385 | ||||||||||||||||||||||
Group VI - Dealers with loans classified as substandard, doubtful or impaired | 238 | 212 | ||||||||||||||||||||||
$ | 7,606 | $ | 6,050 | |||||||||||||||||||||
Inventories_Tables
Inventories (Tables) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Inventory Disclosure [Abstract] | ||||||||
Components of Inventory [Table Text Block] | The following table summarizes the components of Inventories (dollars in millions): | |||||||
December 31, 2014 | December 31, 2013 | |||||||
Productive material, supplies and work in process | $ | 5,380 | $ | 5,872 | ||||
Finished product, including service parts | 8,262 | 8,167 | ||||||
Total inventories | $ | 13,642 | $ | 14,039 | ||||
Equipment_on_Operating_Leases_1
Equipment on Operating Leases, net (Tables) (Vehicles [Member]) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Automotive [Member] | ||||||||||||||||||||
Property Subject to or Available for Operating Lease [Line Items] | ||||||||||||||||||||
Schedule of Equipment on Operating Leases [Table Text Block] | The following tables summarize information related to Equipment on operating leases, net (dollars in millions): | |||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||
Equipment on operating leases | $ | 3,822 | $ | 2,605 | ||||||||||||||||
Less: accumulated depreciation | (258 | ) | (207 | ) | ||||||||||||||||
Equipment on operating leases, net | $ | 3,564 | $ | 2,398 | ||||||||||||||||
Schedule Of Equipment on Operating Leases Depreciation and Impairment [Table Text Block] | ||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
Depreciation expense | $ | 507 | $ | 218 | $ | 227 | ||||||||||||||
Impairment charges | $ | 155 | $ | 168 | $ | 181 | ||||||||||||||
GM Financial [Member] | ||||||||||||||||||||
Property Subject to or Available for Operating Lease [Line Items] | ||||||||||||||||||||
Schedule of Equipment on Operating Leases [Table Text Block] | The following table summarizes GM Financial equipment on operating leases, net (dollars in millions): | |||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||
GM Financial equipment on operating leases | $ | 8,268 | $ | 4,025 | ||||||||||||||||
Less: accumulated depreciation | (1,208 | ) | (642 | ) | ||||||||||||||||
GM Financial equipment on operating leases, net | $ | 7,060 | $ | 3,383 | ||||||||||||||||
Schedule of Future Minimum Rental Payments Receivable for Operating Leases [Table Text Block] | The following table summarizes minimum rental payments due to GM Financial as lessor under operating leases (dollars in millions): | |||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||
Minimum rental receipts under operating leases | $ | 1,241 | $ | 1,019 | $ | 597 | $ | 98 | $ | 5 | ||||||||||
Equity_In_Net_Assets_Of_Noncon1
Equity In Net Assets Of Nonconsolidated Affiliates (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Schedule of Equity Income [Table Text Block] | The following table summarizes information regarding Equity income (dollars in millions): | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
China JVs | $ | 2,066 | $ | 1,763 | $ | 1,521 | ||||||||||||||||||
Others | 28 | 47 | 41 | |||||||||||||||||||||
Total equity income | $ | 2,094 | $ | 1,810 | $ | 1,562 | ||||||||||||||||||
Schedule of Equity Method Investments [Table Text Block] | The following table summarizes our direct ownership interests in China JVs: | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Shanghai General Motors Co., Ltd. (SGM) | 50 | % | 50 | % | ||||||||||||||||||||
Shanghai GM Norsom Motor Co., Ltd. (SGM Norsom) | 25 | % | 25 | % | ||||||||||||||||||||
Shanghai GM Dong Yue Motors Co., Ltd. (SGM DY) | 25 | % | 25 | % | ||||||||||||||||||||
Shanghai GM Dong Yue Powertrain (SGM DYPT) | 25 | % | 25 | % | ||||||||||||||||||||
SAIC-GM-Wuling Automobile Co., Ltd. | 44 | % | 44 | % | ||||||||||||||||||||
FAW-GM Light Duty Commercial Vehicle Co., Ltd. | 50 | % | 50 | % | ||||||||||||||||||||
Pan Asia Technical Automotive Center Co., Ltd. | 50 | % | 50 | % | ||||||||||||||||||||
Shanghai OnStar Telematics Co., Ltd. (Shanghai OnStar) | 40 | % | 40 | % | ||||||||||||||||||||
Shanghai Chengxin Used Car Operation and Management Co., Ltd. (Shanghai Chengxin Used Car) | 33 | % | 33 | % | ||||||||||||||||||||
SAIC General Motors Sales Co., Ltd. (SGMS) | 49 | % | 49 | % | ||||||||||||||||||||
Carrying Amount of Investments in Nonconsolidated Affiliates [Table Text Block] | The following table summarizes the carrying amount of investments in nonconsolidated affiliates (dollars in millions): | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
China JVs | $ | 8,140 | $ | 7,851 | ||||||||||||||||||||
Other investments | 210 | 243 | ||||||||||||||||||||||
Total equity in net assets of nonconsolidated affiliates | $ | 8,350 | $ | 8,094 | ||||||||||||||||||||
Summarized Financial Data for Nonconsolidated Affiliates [Table Text Block] | The following tables present summarized financial data for nonconsolidated affiliates (dollars in millions): | |||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||
China JVs | Others | Total | China JVs | Others | Total | |||||||||||||||||||
Summarized Balance Sheet Data | ||||||||||||||||||||||||
Current assets | $ | 15,442 | $ | 2,636 | $ | 18,078 | $ | 14,666 | $ | 2,234 | $ | 16,900 | ||||||||||||
Non-current assets | 9,758 | 1,507 | 11,265 | 8,187 | 1,458 | 9,645 | ||||||||||||||||||
Total assets | $ | 25,200 | $ | 4,143 | $ | 29,343 | $ | 22,853 | $ | 3,692 | $ | 26,545 | ||||||||||||
Current liabilities | $ | 16,141 | $ | 2,179 | $ | 18,320 | $ | 14,019 | $ | 1,859 | $ | 15,878 | ||||||||||||
Non-current liabilities | 931 | 495 | 1,426 | 1,065 | 511 | 1,576 | ||||||||||||||||||
Total liabilities | $ | 17,072 | $ | 2,674 | $ | 19,746 | $ | 15,084 | $ | 2,370 | $ | 17,454 | ||||||||||||
Non-controlling interests | $ | 1,043 | $ | 3 | $ | 1,046 | $ | 1,040 | $ | — | $ | 1,040 | ||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Summarized Operating Data | ||||||||||||||||||||||||
China JVs' net sales | $ | 43,853 | $ | 38,767 | $ | 33,364 | ||||||||||||||||||
Others' net sales | 3,171 | 1,830 | 3,963 | |||||||||||||||||||||
Total net sales | $ | 47,024 | $ | 40,597 | $ | 37,327 | ||||||||||||||||||
China JVs' net income | $ | 4,312 | $ | 3,685 | $ | 3,198 | ||||||||||||||||||
Others' net income (loss) | 91 | 50 | (23 | ) | ||||||||||||||||||||
Total net income | $ | 4,403 | $ | 3,735 | $ | 3,175 | ||||||||||||||||||
Equity Method Investee [Member] | ||||||||||||||||||||||||
Schedule of Equity Method Investments [Line Items] | ||||||||||||||||||||||||
Transactions with Nonconsolidated Affiliates [Table Text Block] | The following tables summarize transactions with nonconsolidated affiliates (dollars in millions): | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Automotive sales and revenue | $ | 2,762 | $ | 2,724 | $ | 2,572 | ||||||||||||||||||
Automotive purchases, net | $ | 311 | $ | 724 | $ | 497 | ||||||||||||||||||
Interest income and other non-operating income, net | $ | 23 | $ | 19 | $ | 184 | ||||||||||||||||||
Operating cash flows | $ | 4,321 | $ | 3,607 | $ | 3,385 | ||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Accounts and notes receivable, net | $ | 706 | $ | 756 | ||||||||||||||||||||
Accounts payable | $ | 205 | $ | 183 | ||||||||||||||||||||
Property_net_Tables
Property, net (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||
Property, Plant and Equipment [Table Text Block] | The following table summarizes the components of Property, net (dollars in millions): | |||||||||||
Estimated Useful Lives in Years | December 31, 2014 | December 31, 2013 | ||||||||||
Land | $ | 1,695 | $ | 1,868 | ||||||||
Buildings and improvements | May-40 | 5,236 | 4,971 | |||||||||
Machinery and equipment | 27-Mar | 16,788 | 15,222 | |||||||||
Construction in progress | 4,114 | 2,644 | ||||||||||
Real estate, plants and equipment | 27,833 | 24,705 | ||||||||||
Less: accumulated depreciation | (8,067 | ) | (6,787 | ) | ||||||||
Real estate, plants and equipment, net | 19,766 | 17,918 | ||||||||||
Special tools, net | 15-Jan | 7,977 | 7,949 | |||||||||
Total property, net | $ | 27,743 | $ | 25,867 | ||||||||
Depreciation Amortization and Impairment on Property Plant and Equipment [Table Text Block] | The following table summarizes depreciation, amortization and impairment charges related to Property, net (dollars in millions): | |||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Depreciation and amortization expense | $ | 4,187 | $ | 3,959 | $ | 3,888 | ||||||
Impairment charges(a) | 709 | 901 | 3,793 | |||||||||
Depreciation, amortization and impairment charges | $ | 4,896 | $ | 4,860 | $ | 7,681 | ||||||
Capitalized software amortization expense(b) | $ | 295 | $ | 244 | $ | 209 | ||||||
__________ | ||||||||||||
(a) | Includes impairment charges of $321 million and $179 million at GMIO and GME whose assets were written down to fair values of $85 million and $11 million at December 31, 2014. Also includes other assets whose fair value was determined to be $0 in the years ended December 31, 2014, 2013 and 2012 measured utilizing Level 3 inputs. Fair value measurements of the non-GMIO and non-GME asset group long-lived assets utilized projected cash flows discounted at a rate commensurate with the perceived business risks related to the assets involved. | |||||||||||
(b) | Included in total depreciation, impairment charges and amortization expense. | |||||||||||
Property, Plant and Equipment [Member] | Level 3 [Member] | ||||||||||||
Property, Plant and Equipment [Line Items] | ||||||||||||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | The following table summarizes the significant Level 3 inputs for real and personal property measurements: | |||||||||||
Valuation Technique(s) | Unobservable Input(s) | Range | ||||||||||
GM India personal property | Market approach | Economic obsolescence(a) | 72% - 100% | |||||||||
Holden real property | Income approach | Holding period(b) | 0 - 3 years | |||||||||
Discount rate(c) | 11% - 12% | |||||||||||
GME real property | Market approach | Demolition costs(d) | 6% - 23% | |||||||||
Cost approach | Holding period(b) | 0 - 4 years | ||||||||||
Income approach | Discount rate(c) | 11.2% - 14.5% | ||||||||||
GME personal property | Market approach | Physical deterioration(e) | 52% - 69% | |||||||||
Cost approach | Functional obsolescence(f) | 8% - 28% | ||||||||||
Economic obsolescence(a) | 17% - 23% | |||||||||||
__________ | ||||||||||||
(a) | Represents estimated loss in asset value caused by factors external to the asset such as legislative enactments, changes in use, social change and change in supply and demand. | |||||||||||
(b) | Represents estimated marketing period for each property which dictates the amount of property specific holding costs to be incurred such as real estate taxes. | |||||||||||
(c) | Represents the discount rate for the specific property based on local market sources and available benchmarking data. | |||||||||||
(d) | Represents estimated gross cost to demolish and clear the structures on the property as a percentage of replacement cost new. | |||||||||||
(e) | Represents estimated loss in asset value due to wear and tear, action of the elements and other physical factors that reduce the life and serviceability of the asset. | |||||||||||
(f) | Represents estimated loss in asset value caused by inefficiencies and inadequacies of the asset itself. |
Goodwill_Tables
Goodwill (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Goodwill [Abstract] | ||||||||||||
Schedule of Goodwill [Table Text Block] | The following table summarizes the changes in the carrying amounts of Goodwill (dollars in millions): | |||||||||||
Automotive | GM Financial | Total | ||||||||||
Balance at January 1, 2013 | $ | 695 | $ | 1,278 | $ | 1,973 | ||||||
Impairment charges | (541 | ) | — | (541 | ) | |||||||
Goodwill from business combinations(a) | 10 | 144 | 154 | |||||||||
Effect of foreign currency and other | (26 | ) | — | (26 | ) | |||||||
Balance at December 31, 2013 | 138 | 1,422 | 1,560 | |||||||||
Impairment charges | (120 | ) | — | (120 | ) | |||||||
Effect of foreign currency and other | (18 | ) | 5 | (13 | ) | |||||||
Balance at December 31, 2014 | $ | — | $ | 1,427 | $ | 1,427 | ||||||
Accumulated impairment charges at January 1, 2013 | $ | (29,897 | ) | $ | — | $ | (29,897 | ) | ||||
Accumulated impairment charges at December 31, 2013 | $ | (30,438 | ) | $ | — | $ | (30,438 | ) | ||||
Accumulated impairment charges at December 31, 2014 | $ | (30,558 | ) | $ | — | $ | (30,558 | ) | ||||
_________ | ||||||||||||
(a) | Refer to Note 3 for additional information concerning the acquisitions. |
Intangible_Assets_net_Tables
Intangible Assets, net (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||||||||||||||||||
Summary of Components of Intangible Assets, net [Table Text Block] | The following table summarizes the components of Intangible assets, net (dollars in millions): | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | Gross Carrying Amount | Accumulated Amortization | Net Carrying Amount | |||||||||||||||||||
Technology and intellectual property | $ | 8,193 | $ | 7,744 | $ | 449 | $ | 8,210 | $ | 7,308 | $ | 902 | ||||||||||||
Brands | 4,447 | 683 | 3,764 | 4,466 | 559 | 3,907 | ||||||||||||||||||
Dealer network and customer relationships | 1,094 | 434 | 660 | 1,108 | 364 | 744 | ||||||||||||||||||
Favorable contracts and other | 345 | 331 | 14 | 345 | 326 | 19 | ||||||||||||||||||
Total amortizing intangible assets | 14,079 | 9,192 | 4,887 | 14,129 | 8,557 | 5,572 | ||||||||||||||||||
Nonamortizing in process research and development | 96 | 96 | 96 | 96 | ||||||||||||||||||||
Total intangible assets | $ | 14,175 | $ | 9,192 | $ | 4,983 | $ | 14,225 | $ | 8,557 | $ | 5,668 | ||||||||||||
Summary of Amortization Expense and Impairment Charges Related to Intangible Assets [Table Text Block] | The following table summarizes the amortization expense and impairment charges related to Intangible assets, net (dollars in millions): | |||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||
Amortization expense | $ | 676 | $ | 1,281 | $ | 1,568 | ||||||||||||||||||
Impairment charges | $ | 16 | $ | 523 | $ | 1,755 | ||||||||||||||||||
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | The following table summarizes estimated amortization expense related to Intangible assets, net in each of the next five years (dollars in millions): | |||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | ||||||||||||||||||||
Estimated amortization expense | $ | 332 | $ | 311 | $ | 306 | $ | 302 | $ | 205 | ||||||||||||||
Brands [Member] | Level 3 [Member] | GME [Member] | ||||||||||||||||||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||||||||||||||||||
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | The following table summarizes the significant Level 3 inputs for brand intangible assets measurements: | |||||||||||||||||||||||
Valuation Technique | Unobservable Input(s) | Percentage | ||||||||||||||||||||||
Brand intangible assets | Income approach | Long-term growth rate | 0.50% | |||||||||||||||||||||
Pre-tax royalty rate(a) | 0.14% | |||||||||||||||||||||||
Discount rate(b) | 21.25% | |||||||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Represents estimated savings realized from owning the asset or having the royalty-free right to use the asset. | |||||||||||||||||||||||
(b) | Represents WACC adjusted for perceived business risks related to these intangible assets. |
Variable_Interest_Entities_Tab
Variable Interest Entities (Tables) (Consolidated VIE [Member], GM Financial [Member]) | 12 Months Ended | |||||||
Dec. 31, 2014 | ||||||||
Consolidated VIE [Member] | GM Financial [Member] | ||||||||
Variable Interest Entity [Line Items] | ||||||||
Schedule of Variable Interest Entities [Table Text Block] | The following table summarizes the assets and liabilities related to GM Financial's consolidated VIEs prior to intercompany eliminations (dollars in millions): | |||||||
December 31, 2014 | December 31, 2013 | |||||||
Restricted cash | $ | 1,721 | $ | 1,523 | ||||
Securitized Assets | $ | 27,704 | $ | 23,584 | ||||
Securitization notes payable and other credit facilities | $ | 22,794 | $ | 19,448 | ||||
Accrued_Liabilities_and_Other_1
Accrued Liabilities and Other Liabilities (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Accrued Liabilities and Other Liabilities [Abstract] | ||||||||||||
Accrued Liabilities and Other Liabilities[Table Text Block] | The following table summarizes the components of Accrued liabilities and Other liabilities (dollars in millions): | |||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||
Current | ||||||||||||
Dealer and customer allowances, claims and discounts | $ | 8,035 | $ | 7,919 | ||||||||
Deposits primarily from rental car companies | 6,089 | 4,713 | ||||||||||
Deferred revenue | 1,622 | 1,276 | ||||||||||
Product warranty and related liabilities | 3,582 | 2,721 | ||||||||||
Payrolls and employee benefits excluding postemployment benefits | 2,144 | 2,285 | ||||||||||
Other | 6,712 | 5,719 | ||||||||||
Total accrued liabilities | $ | 28,184 | $ | 24,633 | ||||||||
Non-current | ||||||||||||
Deferred revenue | $ | 1,556 | $ | 1,249 | ||||||||
Product warranty and related liabilities | 6,064 | 4,880 | ||||||||||
Employee benefits excluding postemployment benefits | 1,049 | 1,192 | ||||||||||
Postemployment benefits including facility idling reserves | 1,259 | 1,216 | ||||||||||
Other | 4,154 | 4,816 | ||||||||||
Total other liabilities | $ | 14,082 | $ | 13,353 | ||||||||
Product Warranty and Related Liabilities | The following table summarizes activity for product warranty and related liabilities which include policy, product warranty, recall campaigns and courtesy transportation (dollars in millions): | |||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Beginning balance | $ | 7,601 | $ | 7,633 | $ | 7,031 | ||||||
Warranties issued and assumed in period - recall campaigns and courtesy transportation | 2,910 | 640 | 775 | |||||||||
Warranties issued and assumed in period - policy and warranty | 2,540 | 2,757 | 2,840 | |||||||||
Payments | (4,326 | ) | (3,240 | ) | (3,575 | ) | ||||||
Adjustments to pre-existing warranties | 1,187 | 49 | 504 | |||||||||
Effect of foreign currency and other | (266 | ) | (238 | ) | 58 | |||||||
Ending balance | $ | 9,646 | $ | 7,601 | $ | 7,633 | ||||||
ShortTerm_and_LongTerm_Debt_Ta
Short-Term and Long-Term Debt (Tables) | 12 Months Ended | ||||||||||||||||
Dec. 31, 2014 | |||||||||||||||||
Interest Expense [Table Text Block] | The following table summarizes interest expense (dollars in millions): | ||||||||||||||||
Years Ended December 31, | |||||||||||||||||
2014 | 2013 | 2012 | |||||||||||||||
Automotive | $ | 403 | $ | 334 | $ | 489 | |||||||||||
Automotive Financing - GM Financial | 1,426 | 715 | 283 | ||||||||||||||
Total interest expense | $ | 1,829 | $ | 1,049 | $ | 772 | |||||||||||
Schedule of Maturities of Long-term Debt [Table Text Block] | The following table summarizes contractual maturities including capital leases at December 31, 2014 (dollars in millions): | ||||||||||||||||
Automotive | Automotive Financing(a) | Total | |||||||||||||||
2015 | $ | 503 | $ | 14,491 | $ | 14,994 | |||||||||||
2016 | 174 | 9,177 | 9,351 | ||||||||||||||
2017 | 511 | 7,255 | 7,766 | ||||||||||||||
2018 | 1,600 | 2,666 | 4,266 | ||||||||||||||
2019 | 109 | 1,860 | 1,969 | ||||||||||||||
Thereafter | 7,194 | 2,000 | 9,194 | ||||||||||||||
$ | 10,091 | $ | 37,449 | $ | 47,540 | ||||||||||||
________ | |||||||||||||||||
(a) | Secured debt, credit facilities and other unsecured debt are based on expected payoff date. Senior notes principal amounts are based on maturity. | ||||||||||||||||
Automotive [Member] | |||||||||||||||||
Debt carrying amount and fair value [Table Text Block] | The following table summarizes the components of our short-term and long-term debt (dollars in millions): | ||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||
Secured debt | $ | 237 | $ | 320 | |||||||||||||
Unsecured debt | 8,205 | 5,852 | |||||||||||||||
Capital leases | 968 | 965 | |||||||||||||||
Total automotive debt(a) | $ | 9,410 | $ | 7,137 | |||||||||||||
Fair value of automotive debt | $ | 9,799 | $ | 6,837 | |||||||||||||
Available under credit facility agreements | $ | 12,026 | $ | 10,404 | |||||||||||||
Interest rate range on outstanding debt(b) | 0.0-18.0% | 0.0-19.0% | |||||||||||||||
Weighted-average interest rate on outstanding short-term debt(b) | 6.4 | % | 9 | % | |||||||||||||
Weighted-average interest rate on outstanding long-term debt(b) | 4.3 | % | 3.8 | % | |||||||||||||
__________ | |||||||||||||||||
(a) | Net of a $681 million and $765 million net discount at December 31, 2014 and 2013. | ||||||||||||||||
(b) | Includes coupon rates on debt denominated in various foreign currencies and interest free loans. | ||||||||||||||||
GM Financial [Member] | |||||||||||||||||
Debt carrying amount and fair value [Table Text Block] | The following table summarizes the carrying amount and fair value of debt (dollars in millions): | ||||||||||||||||
December 31, 2014 | December 31, 2013 | ||||||||||||||||
Carrying Amount | Fair Value | Carrying Amount | Fair Value | ||||||||||||||
Secured debt | $ | 25,214 | $ | 25,228 | $ | 22,073 | $ | 22,170 | |||||||||
Unsecured debt | 12,217 | 12,479 | 6,973 | 7,078 | |||||||||||||
Total GM Financial debt | $ | 37,431 | $ | 37,707 | $ | 29,046 | $ | 29,248 | |||||||||
Pensions_And_Other_Postretirem1
Pensions And Other Postretirement Benefits (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Amounts Recognized in Balance Sheet [Table Text Block] | The following table summarizes the change in benefit obligations and related plan assets (dollars in millions): | |||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | |||||||||||||||||||||||||||||||||||||||||
Change in benefit obligations | ||||||||||||||||||||||||||||||||||||||||||||||||
Beginning benefit obligation | $ | 71,480 | $ | 27,528 | $ | 5,110 | $ | 1,238 | $ | 82,110 | $ | 29,301 | $ | 6,271 | $ | 1,528 | ||||||||||||||||||||||||||||||||
Service cost | 247 | 358 | 13 | 10 | 298 | 394 | 24 | 13 | ||||||||||||||||||||||||||||||||||||||||
Interest cost | 3,060 | 1,031 | 218 | 55 | 2,837 | 1,010 | 217 | 57 | ||||||||||||||||||||||||||||||||||||||||
Amendments | — | 17 | — | — | — | (4 | ) | — | (4 | ) | ||||||||||||||||||||||||||||||||||||||
Actuarial (gains) losses | 7,770 | 3,179 | 331 | 117 | (7,661 | ) | (1,009 | ) | (757 | ) | (210 | ) | ||||||||||||||||||||||||||||||||||||
Benefits paid | (5,779 | ) | (1,699 | ) | (376 | ) | (50 | ) | (5,719 | ) | (1,683 | ) | (422 | ) | (53 | ) | ||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | — | (2,536 | ) | — | (108 | ) | — | (528 | ) | — | (98 | ) | ||||||||||||||||||||||||||||||||||||
Curtailments, settlements and other | (54 | ) | 19 | (7 | ) | 74 | (385 | ) | 47 | (223 | ) | 5 | ||||||||||||||||||||||||||||||||||||
Ending benefit obligation | 76,724 | 27,897 | 5,289 | 1,336 | 71,480 | 27,528 | 5,110 | 1,238 | ||||||||||||||||||||||||||||||||||||||||
Change in plan assets | ||||||||||||||||||||||||||||||||||||||||||||||||
Beginning fair value of plan assets | 64,166 | 14,986 | — | — | 68,085 | 15,541 | — | — | ||||||||||||||||||||||||||||||||||||||||
Actual return on plan assets | 7,346 | 1,893 | — | — | 2,107 | 988 | — | — | ||||||||||||||||||||||||||||||||||||||||
Employer contributions | 143 | 770 | 354 | 48 | 128 | 886 | 393 | 51 | ||||||||||||||||||||||||||||||||||||||||
Benefits paid | (5,779 | ) | (1,699 | ) | (376 | ) | (50 | ) | (5,719 | ) | (1,683 | ) | (422 | ) | (53 | ) | ||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | — | (1,232 | ) | — | — | — | (692 | ) | — | — | ||||||||||||||||||||||||||||||||||||||
Settlements and other | (53 | ) | (49 | ) | 22 | 2 | (435 | ) | (54 | ) | 29 | 2 | ||||||||||||||||||||||||||||||||||||
Ending fair value of plan assets | 65,823 | 14,669 | — | — | 64,166 | 14,986 | — | — | ||||||||||||||||||||||||||||||||||||||||
Ending funded status | $ | (10,901 | ) | $ | (13,228 | ) | $ | (5,289 | ) | $ | (1,336 | ) | $ | (7,314 | ) | $ | (12,542 | ) | $ | (5,110 | ) | $ | (1,238 | ) | ||||||||||||||||||||||||
Amounts recorded in the consolidated balance sheets | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-current assets | $ | — | $ | 111 | $ | — | $ | — | $ | — | $ | 137 | $ | — | $ | — | ||||||||||||||||||||||||||||||||
Current liabilities | (69 | ) | (383 | ) | (338 | ) | (58 | ) | (131 | ) | (379 | ) | (368 | ) | (83 | ) | ||||||||||||||||||||||||||||||||
Non-current liabilities | (10,832 | ) | (12,956 | ) | (4,951 | ) | (1,278 | ) | (7,183 | ) | (12,300 | ) | (4,742 | ) | (1,155 | ) | ||||||||||||||||||||||||||||||||
Net amount recorded | $ | (10,901 | ) | $ | (13,228 | ) | $ | (5,289 | ) | $ | (1,336 | ) | $ | (7,314 | ) | $ | (12,542 | ) | $ | (5,110 | ) | $ | (1,238 | ) | ||||||||||||||||||||||||
Amounts recorded in Accumulated other comprehensive loss | ||||||||||||||||||||||||||||||||||||||||||||||||
Net actuarial gain (loss) | $ | 452 | $ | (5,019 | ) | $ | (859 | ) | $ | (83 | ) | $ | 4,747 | $ | (3,379 | ) | $ | (542 | ) | $ | 47 | |||||||||||||||||||||||||||
Net prior service (cost) credit | 35 | (57 | ) | 16 | 72 | 38 | (87 | ) | 19 | 91 | ||||||||||||||||||||||||||||||||||||||
Total recorded in Accumulated other comprehensive loss | $ | 487 | $ | (5,076 | ) | $ | (843 | ) | $ | (11 | ) | $ | 4,785 | $ | (3,466 | ) | $ | (523 | ) | $ | 138 | |||||||||||||||||||||||||||
Changes in Projected Benefit Obligations, Fair Value of Plan Assets, and Funded Status of Plan [Table Text Block] | The following table summarizes the change in benefit obligations and related plan assets (dollars in millions): | |||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Year Ended December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | |||||||||||||||||||||||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | |||||||||||||||||||||||||||||||||||||||||
Change in benefit obligations | ||||||||||||||||||||||||||||||||||||||||||||||||
Beginning benefit obligation | $ | 71,480 | $ | 27,528 | $ | 5,110 | $ | 1,238 | $ | 82,110 | $ | 29,301 | $ | 6,271 | $ | 1,528 | ||||||||||||||||||||||||||||||||
Service cost | 247 | 358 | 13 | 10 | 298 | 394 | 24 | 13 | ||||||||||||||||||||||||||||||||||||||||
Interest cost | 3,060 | 1,031 | 218 | 55 | 2,837 | 1,010 | 217 | 57 | ||||||||||||||||||||||||||||||||||||||||
Amendments | — | 17 | — | — | — | (4 | ) | — | (4 | ) | ||||||||||||||||||||||||||||||||||||||
Actuarial (gains) losses | 7,770 | 3,179 | 331 | 117 | (7,661 | ) | (1,009 | ) | (757 | ) | (210 | ) | ||||||||||||||||||||||||||||||||||||
Benefits paid | (5,779 | ) | (1,699 | ) | (376 | ) | (50 | ) | (5,719 | ) | (1,683 | ) | (422 | ) | (53 | ) | ||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | — | (2,536 | ) | — | (108 | ) | — | (528 | ) | — | (98 | ) | ||||||||||||||||||||||||||||||||||||
Curtailments, settlements and other | (54 | ) | 19 | (7 | ) | 74 | (385 | ) | 47 | (223 | ) | 5 | ||||||||||||||||||||||||||||||||||||
Ending benefit obligation | 76,724 | 27,897 | 5,289 | 1,336 | 71,480 | 27,528 | 5,110 | 1,238 | ||||||||||||||||||||||||||||||||||||||||
Change in plan assets | ||||||||||||||||||||||||||||||||||||||||||||||||
Beginning fair value of plan assets | 64,166 | 14,986 | — | — | 68,085 | 15,541 | — | — | ||||||||||||||||||||||||||||||||||||||||
Actual return on plan assets | 7,346 | 1,893 | — | — | 2,107 | 988 | — | — | ||||||||||||||||||||||||||||||||||||||||
Employer contributions | 143 | 770 | 354 | 48 | 128 | 886 | 393 | 51 | ||||||||||||||||||||||||||||||||||||||||
Benefits paid | (5,779 | ) | (1,699 | ) | (376 | ) | (50 | ) | (5,719 | ) | (1,683 | ) | (422 | ) | (53 | ) | ||||||||||||||||||||||||||||||||
Foreign currency translation adjustments | — | (1,232 | ) | — | — | — | (692 | ) | — | — | ||||||||||||||||||||||||||||||||||||||
Settlements and other | (53 | ) | (49 | ) | 22 | 2 | (435 | ) | (54 | ) | 29 | 2 | ||||||||||||||||||||||||||||||||||||
Ending fair value of plan assets | 65,823 | 14,669 | — | — | 64,166 | 14,986 | — | — | ||||||||||||||||||||||||||||||||||||||||
Ending funded status | $ | (10,901 | ) | $ | (13,228 | ) | $ | (5,289 | ) | $ | (1,336 | ) | $ | (7,314 | ) | $ | (12,542 | ) | $ | (5,110 | ) | $ | (1,238 | ) | ||||||||||||||||||||||||
Amounts recorded in the consolidated balance sheets | ||||||||||||||||||||||||||||||||||||||||||||||||
Non-current assets | $ | — | $ | 111 | $ | — | $ | — | $ | — | $ | 137 | $ | — | $ | — | ||||||||||||||||||||||||||||||||
Current liabilities | (69 | ) | (383 | ) | (338 | ) | (58 | ) | (131 | ) | (379 | ) | (368 | ) | (83 | ) | ||||||||||||||||||||||||||||||||
Non-current liabilities | (10,832 | ) | (12,956 | ) | (4,951 | ) | (1,278 | ) | (7,183 | ) | (12,300 | ) | (4,742 | ) | (1,155 | ) | ||||||||||||||||||||||||||||||||
Net amount recorded | $ | (10,901 | ) | $ | (13,228 | ) | $ | (5,289 | ) | $ | (1,336 | ) | $ | (7,314 | ) | $ | (12,542 | ) | $ | (5,110 | ) | $ | (1,238 | ) | ||||||||||||||||||||||||
Amounts recorded in Accumulated other comprehensive loss | ||||||||||||||||||||||||||||||||||||||||||||||||
Net actuarial gain (loss) | $ | 452 | $ | (5,019 | ) | $ | (859 | ) | $ | (83 | ) | $ | 4,747 | $ | (3,379 | ) | $ | (542 | ) | $ | 47 | |||||||||||||||||||||||||||
Net prior service (cost) credit | 35 | (57 | ) | 16 | 72 | 38 | (87 | ) | 19 | 91 | ||||||||||||||||||||||||||||||||||||||
Total recorded in Accumulated other comprehensive loss | $ | 487 | $ | (5,076 | ) | $ | (843 | ) | $ | (11 | ) | $ | 4,785 | $ | (3,466 | ) | $ | (523 | ) | $ | 138 | |||||||||||||||||||||||||||
Schedule of Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | The following table summarizes the total accumulated benefit obligations (ABO), the fair value of plan assets for defined benefit pension plans with ABO in excess of plan assets, and the projected benefit obligation (PBO) and fair value of plan assets for defined benefit pension plans with PBO in excess of plan assets (dollars in millions): | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | |||||||||||||||||||||||||||||||||||||||||||||
ABO | $ | 76,702 | $ | 27,425 | $ | 71,461 | $ | 27,069 | ||||||||||||||||||||||||||||||||||||||||
Plans with ABO in excess of plan assets | ||||||||||||||||||||||||||||||||||||||||||||||||
ABO | $ | 76,702 | $ | 26,510 | $ | 71,461 | $ | 25,897 | ||||||||||||||||||||||||||||||||||||||||
Fair value of plan assets | $ | 65,823 | $ | 13,638 | $ | 64,166 | $ | 13,663 | ||||||||||||||||||||||||||||||||||||||||
Plans with PBO in excess of plan assets | ||||||||||||||||||||||||||||||||||||||||||||||||
PBO | $ | 76,724 | $ | 26,935 | $ | 71,480 | $ | 26,788 | ||||||||||||||||||||||||||||||||||||||||
Fair value of plan assets | $ | 65,823 | $ | 13,643 | $ | 64,166 | $ | 14,109 | ||||||||||||||||||||||||||||||||||||||||
Schedule of Accumulated Benefit Obligations in Excess of Fair Value of Plan Assets [Table Text Block] | The following table summarizes the total accumulated benefit obligations (ABO), the fair value of plan assets for defined benefit pension plans with ABO in excess of plan assets, and the projected benefit obligation (PBO) and fair value of plan assets for defined benefit pension plans with PBO in excess of plan assets (dollars in millions): | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | |||||||||||||||||||||||||||||||||||||||||||||
ABO | $ | 76,702 | $ | 27,425 | $ | 71,461 | $ | 27,069 | ||||||||||||||||||||||||||||||||||||||||
Plans with ABO in excess of plan assets | ||||||||||||||||||||||||||||||||||||||||||||||||
ABO | $ | 76,702 | $ | 26,510 | $ | 71,461 | $ | 25,897 | ||||||||||||||||||||||||||||||||||||||||
Fair value of plan assets | $ | 65,823 | $ | 13,638 | $ | 64,166 | $ | 13,663 | ||||||||||||||||||||||||||||||||||||||||
Plans with PBO in excess of plan assets | ||||||||||||||||||||||||||||||||||||||||||||||||
PBO | $ | 76,724 | $ | 26,935 | $ | 71,480 | $ | 26,788 | ||||||||||||||||||||||||||||||||||||||||
Fair value of plan assets | $ | 65,823 | $ | 13,643 | $ | 64,166 | $ | 14,109 | ||||||||||||||||||||||||||||||||||||||||
Schedule of Net Benefit Costs [Table Text Block] | The following table summarizes the components of net periodic pension and OPEB expense along with the assumptions used to determine benefit obligations (dollars in millions): | |||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Year Ended December 31, 2013 | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | |||||||||||||||||||||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | |||||||||||||||||||||||||||||||||||||
Components of expense | ||||||||||||||||||||||||||||||||||||||||||||||||
Service cost | $ | 380 | $ | 389 | $ | 13 | $ | 10 | $ | 395 | $ | 425 | $ | 24 | $ | 13 | $ | 590 | $ | 411 | $ | 23 | $ | 16 | ||||||||||||||||||||||||
Interest cost | 3,060 | 1,031 | 218 | 55 | 2,837 | 1,010 | 217 | 57 | 4,055 | 1,110 | 234 | 63 | ||||||||||||||||||||||||||||||||||||
Expected return on plan assets | (3,914 | ) | (873 | ) | — | — | (3,562 | ) | (823 | ) | — | — | (5,029 | ) | (870 | ) | — | — | ||||||||||||||||||||||||||||||
Amortization of prior service cost (credit) | (4 | ) | 17 | (2 | ) | (14 | ) | (4 | ) | 19 | (116 | ) | (14 | ) | (1 | ) | 1 | (116 | ) | (12 | ) | |||||||||||||||||||||||||||
Recognized net actuarial loss | (91 | ) | 154 | 14 | (6 | ) | 6 | 208 | 85 | 6 | 2 | 35 | 52 | 6 | ||||||||||||||||||||||||||||||||||
Curtailments, settlements and other | (1 | ) | 3 | — | — | (77 | ) | (6 | ) | (62 | ) | — | 2,580 | 71 | — | 11 | ||||||||||||||||||||||||||||||||
Net periodic expense (income) | $ | (570 | ) | $ | 721 | $ | 243 | $ | 45 | $ | (405 | ) | $ | 833 | $ | 148 | $ | 62 | $ | 2,197 | $ | 758 | $ | 193 | $ | 84 | ||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations | ||||||||||||||||||||||||||||||||||||||||||||||||
Discount rate | 3.73 | % | 3.14 | % | 3.8 | % | 3.99 | % | 4.46 | % | 4.1 | % | 4.52 | % | 4.71 | % | 3.59 | % | 3.7 | % | 3.68 | % | 3.97 | % | ||||||||||||||||||||||||
Rate of compensation increase(a) | N/A | 2.85 | % | N/A | 4.21 | % | N/A | 2.9 | % | N/A | 4.21 | % | N/A | 2.77 | % | 4.5 | % | 4.21 | % | |||||||||||||||||||||||||||||
Weighted-average assumptions used to determine net expense | ||||||||||||||||||||||||||||||||||||||||||||||||
Discount rate | 4.46 | % | 4.1 | % | 4.52 | % | 4.71 | % | 3.59 | % | 3.69 | % | 3.69 | % | 3.97 | % | 4.06 | % | 4.45 | % | 4.24 | % | 4.31 | % | ||||||||||||||||||||||||
Expected rate of return on plan assets | 6.53 | % | 6.28 | % | N/A | N/A | 5.77 | % | 5.7 | % | N/A | N/A | 6.18 | % | 6.2 | % | N/A | N/A | ||||||||||||||||||||||||||||||
Rate of compensation increase(a) | N/A | 2.9 | % | N/A | 4.21 | % | N/A | 2.77 | % | 4.5 | % | 4.21 | % | 4.5 | % | 3.15 | % | 4.5 | % | 4.21 | % | |||||||||||||||||||||||||||
_________ | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) | As a result of ceasing the accrual of additional benefits for salaried plan participants, the rate of compensation increase does not have a significant effect on our U.S. pension and OPEB plans. | |||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Assumptions Used [Table Text Block] | The following table summarizes the components of net periodic pension and OPEB expense along with the assumptions used to determine benefit obligations (dollars in millions): | |||||||||||||||||||||||||||||||||||||||||||||||
Year Ended December 31, 2014 | Year Ended December 31, 2013 | Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | Pension Benefits | Other Benefits | |||||||||||||||||||||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | |||||||||||||||||||||||||||||||||||||
Components of expense | ||||||||||||||||||||||||||||||||||||||||||||||||
Service cost | $ | 380 | $ | 389 | $ | 13 | $ | 10 | $ | 395 | $ | 425 | $ | 24 | $ | 13 | $ | 590 | $ | 411 | $ | 23 | $ | 16 | ||||||||||||||||||||||||
Interest cost | 3,060 | 1,031 | 218 | 55 | 2,837 | 1,010 | 217 | 57 | 4,055 | 1,110 | 234 | 63 | ||||||||||||||||||||||||||||||||||||
Expected return on plan assets | (3,914 | ) | (873 | ) | — | — | (3,562 | ) | (823 | ) | — | — | (5,029 | ) | (870 | ) | — | — | ||||||||||||||||||||||||||||||
Amortization of prior service cost (credit) | (4 | ) | 17 | (2 | ) | (14 | ) | (4 | ) | 19 | (116 | ) | (14 | ) | (1 | ) | 1 | (116 | ) | (12 | ) | |||||||||||||||||||||||||||
Recognized net actuarial loss | (91 | ) | 154 | 14 | (6 | ) | 6 | 208 | 85 | 6 | 2 | 35 | 52 | 6 | ||||||||||||||||||||||||||||||||||
Curtailments, settlements and other | (1 | ) | 3 | — | — | (77 | ) | (6 | ) | (62 | ) | — | 2,580 | 71 | — | 11 | ||||||||||||||||||||||||||||||||
Net periodic expense (income) | $ | (570 | ) | $ | 721 | $ | 243 | $ | 45 | $ | (405 | ) | $ | 833 | $ | 148 | $ | 62 | $ | 2,197 | $ | 758 | $ | 193 | $ | 84 | ||||||||||||||||||||||
Weighted-average assumptions used to determine benefit obligations | ||||||||||||||||||||||||||||||||||||||||||||||||
Discount rate | 3.73 | % | 3.14 | % | 3.8 | % | 3.99 | % | 4.46 | % | 4.1 | % | 4.52 | % | 4.71 | % | 3.59 | % | 3.7 | % | 3.68 | % | 3.97 | % | ||||||||||||||||||||||||
Rate of compensation increase(a) | N/A | 2.85 | % | N/A | 4.21 | % | N/A | 2.9 | % | N/A | 4.21 | % | N/A | 2.77 | % | 4.5 | % | 4.21 | % | |||||||||||||||||||||||||||||
Weighted-average assumptions used to determine net expense | ||||||||||||||||||||||||||||||||||||||||||||||||
Discount rate | 4.46 | % | 4.1 | % | 4.52 | % | 4.71 | % | 3.59 | % | 3.69 | % | 3.69 | % | 3.97 | % | 4.06 | % | 4.45 | % | 4.24 | % | 4.31 | % | ||||||||||||||||||||||||
Expected rate of return on plan assets | 6.53 | % | 6.28 | % | N/A | N/A | 5.77 | % | 5.7 | % | N/A | N/A | 6.18 | % | 6.2 | % | N/A | N/A | ||||||||||||||||||||||||||||||
Rate of compensation increase(a) | N/A | 2.9 | % | N/A | 4.21 | % | N/A | 2.77 | % | 4.5 | % | 4.21 | % | 4.5 | % | 3.15 | % | 4.5 | % | 4.21 | % | |||||||||||||||||||||||||||
_________ | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) | As a result of ceasing the accrual of additional benefits for salaried plan participants, the rate of compensation increase does not have a significant effect on our U.S. pension and OPEB plans. | |||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Expected Benefit Payments [Table Text Block] | The following table summarizes net benefit payments expected to be paid in the future, which include assumptions related to estimated future employee service (dollars in millions): | |||||||||||||||||||||||||||||||||||||||||||||||
Pension Benefits(a) | Other Benefits | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | |||||||||||||||||||||||||||||||||||||||||||||
2015 | $ | 5,616 | $ | 1,530 | $ | 344 | $ | 59 | ||||||||||||||||||||||||||||||||||||||||
2016 | $ | 5,572 | $ | 1,570 | $ | 331 | $ | 63 | ||||||||||||||||||||||||||||||||||||||||
2017 | $ | 5,380 | $ | 1,558 | $ | 322 | $ | 61 | ||||||||||||||||||||||||||||||||||||||||
2018 | $ | 5,239 | $ | 1,458 | $ | 313 | $ | 63 | ||||||||||||||||||||||||||||||||||||||||
2019 | $ | 5,128 | $ | 1,448 | $ | 307 | $ | 65 | ||||||||||||||||||||||||||||||||||||||||
2020 - 2024 | $ | 23,754 | $ | 7,136 | $ | 1,470 | $ | 348 | ||||||||||||||||||||||||||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Benefits for most U.S. pension plans and certain non-U.S. pension plans are paid out of plan assets rather than our Cash and cash equivalents. | |||||||||||||||||||||||||||||||||||||||||||||||
Pension Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of contributions to employee benefit plans | The following table summarizes contributions made to the defined benefit pension plans (dollars in millions): | |||||||||||||||||||||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
U.S. hourly and salaried | $ | 143 | $ | 128 | $ | 2,420 | ||||||||||||||||||||||||||||||||||||||||||
Non-U.S. | 770 | 886 | 855 | |||||||||||||||||||||||||||||||||||||||||||||
Total | $ | 913 | $ | 1,014 | $ | 3,275 | ||||||||||||||||||||||||||||||||||||||||||
Schedules of Fair Value of Plan Assets by Asset Class and Target Allocations [Table Text Block] | The following table summarizes the target allocations by asset category for U.S. and non-U.S. defined benefit pension plans: | |||||||||||||||||||||||||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||||||||||||||||||||||||||
U.S. Plans | Non-U.S. Plans | U.S. Plans | Non-U.S. Plans | |||||||||||||||||||||||||||||||||||||||||||||
Equity | 16 | % | 27 | % | 19 | % | 28 | % | ||||||||||||||||||||||||||||||||||||||||
Debt | 60 | % | 47 | % | 58 | % | 49 | % | ||||||||||||||||||||||||||||||||||||||||
Other(a) | 24 | % | 26 | % | 23 | % | 23 | % | ||||||||||||||||||||||||||||||||||||||||
Total | 100 | % | 100 | % | 100 | % | 100 | % | ||||||||||||||||||||||||||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Primarily includes private equity, real estate and absolute return strategies which mainly consist of hedge funds. | |||||||||||||||||||||||||||||||||||||||||||||||
Assets and Fair Value Measurements | ||||||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the fair value of U.S. defined benefit pension plan assets by asset class (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash equivalents and other short-term investments | $ | — | $ | 42 | $ | — | $ | 42 | $ | — | $ | 411 | $ | — | $ | 411 | ||||||||||||||||||||||||||||||||
Common and preferred stocks | 10,033 | 30 | 3 | 10,066 | 10,234 | 70 | 6 | 10,310 | ||||||||||||||||||||||||||||||||||||||||
Government and agency debt securities(a) | — | 16,143 | — | 16,143 | — | 14,971 | — | 14,971 | ||||||||||||||||||||||||||||||||||||||||
Corporate and other debt securities(b) | — | 22,725 | 83 | 22,808 | — | 20,647 | 130 | 20,777 | ||||||||||||||||||||||||||||||||||||||||
Investment funds(c) | 70 | 910 | 5,221 | 6,201 | 99 | 1,018 | 5,174 | 6,291 | ||||||||||||||||||||||||||||||||||||||||
Private equity and debt investments(d) | — | — | 5,909 | 5,909 | — | — | 6,335 | 6,335 | ||||||||||||||||||||||||||||||||||||||||
Real estate investments(e) | 560 | 2 | 3,608 | 4,170 | 390 | 4 | 4,127 | 4,521 | ||||||||||||||||||||||||||||||||||||||||
Other investments | — | — | 65 | 65 | — | — | 62 | 62 | ||||||||||||||||||||||||||||||||||||||||
Derivative assets | 55 | 313 | 1 | 369 | 17 | 157 | — | 174 | ||||||||||||||||||||||||||||||||||||||||
Total assets | 10,718 | 40,165 | 14,890 | 65,773 | 10,740 | 37,278 | 15,834 | 63,852 | ||||||||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | (23 | ) | (496 | ) | — | (519 | ) | (22 | ) | (311 | ) | (6 | ) | (339 | ) | |||||||||||||||||||||||||||||||||
Net plan assets subject to leveling | $ | 10,695 | $ | 39,669 | $ | 14,890 | 65,254 | $ | 10,718 | $ | 36,967 | $ | 15,828 | 63,513 | ||||||||||||||||||||||||||||||||||
Other plan assets and liabilities(f) | 569 | 653 | ||||||||||||||||||||||||||||||||||||||||||||||
Net Plan Assets | $ | 65,823 | $ | 64,166 | ||||||||||||||||||||||||||||||||||||||||||||
The following tables summarize the fair value of non-U.S. defined benefit pension plan assets by asset class (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||||||||||
31-Dec-14 | 31-Dec-13 | |||||||||||||||||||||||||||||||||||||||||||||||
Level 1 | Level 2 | Level 3 | Total | Level 1 | Level 2 | Level 3 | Total | |||||||||||||||||||||||||||||||||||||||||
Assets | ||||||||||||||||||||||||||||||||||||||||||||||||
Cash equivalents and other short-term investments | $ | — | $ | 207 | $ | — | $ | 207 | $ | — | $ | 156 | $ | — | $ | 156 | ||||||||||||||||||||||||||||||||
Common and preferred stocks | 1,959 | 3 | — | 1,962 | 1,816 | 6 | — | 1,822 | ||||||||||||||||||||||||||||||||||||||||
Government and agency debt securities(a) | — | 3,614 | — | 3,614 | — | 3,418 | — | 3,418 | ||||||||||||||||||||||||||||||||||||||||
Corporate and other debt securities(b) | — | 1,986 | — | 1,986 | — | 2,475 | 14 | 2,489 | ||||||||||||||||||||||||||||||||||||||||
Investment funds(c) | 101 | 3,409 | 889 | 4,399 | 128 | 3,529 | 745 | 4,402 | ||||||||||||||||||||||||||||||||||||||||
Private equity and debt investments(d) | — | — | 509 | 509 | — | — | 430 | 430 | ||||||||||||||||||||||||||||||||||||||||
Real estate investments(e) | 20 | 4 | 1,263 | 1,287 | 13 | 12 | 1,405 | 1,430 | ||||||||||||||||||||||||||||||||||||||||
Other investments | — | — | 722 | 722 | — | — | 618 | 618 | ||||||||||||||||||||||||||||||||||||||||
Derivative assets | 17 | 24 | — | 41 | 3 | 44 | — | 47 | ||||||||||||||||||||||||||||||||||||||||
Total assets | 2,097 | 9,247 | 3,383 | 14,727 | 1,960 | 9,640 | 3,212 | 14,812 | ||||||||||||||||||||||||||||||||||||||||
Liabilities | ||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities | — | (44 | ) | — | (44 | ) | (12 | ) | (56 | ) | — | (68 | ) | |||||||||||||||||||||||||||||||||||
Net plan assets subject to leveling | $ | 2,097 | $ | 9,203 | $ | 3,383 | 14,683 | $ | 1,948 | $ | 9,584 | $ | 3,212 | 14,744 | ||||||||||||||||||||||||||||||||||
Other plan assets and liabilities(f) | (14 | ) | 242 | |||||||||||||||||||||||||||||||||||||||||||||
Net Plan Assets | $ | 14,669 | $ | 14,986 | ||||||||||||||||||||||||||||||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||||||||||||||||||
(a) | Includes U.S. and sovereign government and agency issues. | |||||||||||||||||||||||||||||||||||||||||||||||
(b) | Includes mortgage and asset-backed securities. | |||||||||||||||||||||||||||||||||||||||||||||||
(c) | U.S. and non-U.S. Level 3 assets consist primarily of funds of hedge funds. Non-U.S. Level 2 assets consist primarily of equity and fixed income funds. | |||||||||||||||||||||||||||||||||||||||||||||||
(d) | Includes private equity investment funds. | |||||||||||||||||||||||||||||||||||||||||||||||
(e) | Includes investment funds and public real estate investment trusts. | |||||||||||||||||||||||||||||||||||||||||||||||
(f) | Cash held by the plans, net of amounts receivable/payable for unsettled security transactions and payables for investment manager fees, custody fees and other expenses. | |||||||||||||||||||||||||||||||||||||||||||||||
Schedules of U.S. and Non-US Pension Level 3 Plan Assets Rollforward [Table Text Block] | The following tables summarize the activity for U.S. defined benefit pension plan net assets measured at fair value using Level 3 inputs (dollars in millions): | |||||||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2014 | Net Realized/Unrealized | Purchases, Sales and | Transfers Into/Out of Level 3 | Balance at December 31, 2014 | Change in Unrealized Gains/(Losses) Attributable to Assets Held at | |||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) | Settlements, Net | 31-Dec-14 | ||||||||||||||||||||||||||||||||||||||||||||||
Common and preferred stocks | $ | 6 | $ | 2 | $ | (5 | ) | $ | — | $ | 3 | $ | — | |||||||||||||||||||||||||||||||||||
Corporate and other debt securities | 130 | — | (41 | ) | (6 | ) | 83 | (4 | ) | |||||||||||||||||||||||||||||||||||||||
Investment funds | 5,174 | 231 | (184 | ) | — | 5,221 | 208 | |||||||||||||||||||||||||||||||||||||||||
Private equity and debt investments | 6,335 | 651 | (1,077 | ) | — | 5,909 | 27 | |||||||||||||||||||||||||||||||||||||||||
Real estate investments | 4,127 | 251 | (770 | ) | — | 3,608 | 68 | |||||||||||||||||||||||||||||||||||||||||
Other investments | 62 | 5 | (2 | ) | — | 65 | 5 | |||||||||||||||||||||||||||||||||||||||||
Derivatives, net | (6 | ) | (4 | ) | 11 | — | 1 | — | ||||||||||||||||||||||||||||||||||||||||
Total net assets | $ | 15,828 | $ | 1,136 | $ | (2,068 | ) | $ | (6 | ) | $ | 14,890 | $ | 304 | ||||||||||||||||||||||||||||||||||
Balance at January 1, 2013 | Net Realized/Unrealized | Purchases, Sales and | Transfers Into/Out of Level 3 | Balance at December 31, 2013 | Change in Unrealized Gains/(Losses) Attributable to Assets Held at | |||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) | Settlements, Net | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||
Common and preferred stocks | $ | 19 | $ | 3 | $ | (16 | ) | $ | — | $ | 6 | $ | 1 | |||||||||||||||||||||||||||||||||||
Corporate and other debt securities | 182 | 6 | (58 | ) | — | 130 | (3 | ) | ||||||||||||||||||||||||||||||||||||||||
Investment funds | 4,959 | 552 | (337 | ) | — | 5,174 | 537 | |||||||||||||||||||||||||||||||||||||||||
Private equity and debt investments | 6,400 | 926 | (991 | ) | — | 6,335 | 436 | |||||||||||||||||||||||||||||||||||||||||
Real estate investments | 4,335 | 458 | (666 | ) | — | 4,127 | 190 | |||||||||||||||||||||||||||||||||||||||||
Other investments | 63 | (2 | ) | 1 | — | 62 | (2 | ) | ||||||||||||||||||||||||||||||||||||||||
Derivatives, net | (8 | ) | 2 | — | — | (6 | ) | 1 | ||||||||||||||||||||||||||||||||||||||||
Total net assets | $ | 15,950 | $ | 1,945 | $ | (2,067 | ) | $ | — | $ | 15,828 | $ | 1,160 | |||||||||||||||||||||||||||||||||||
The following tables summarize the activity for non-U.S. defined benefit pension plan assets measured at fair value using Level 3 inputs (dollars in millions): | ||||||||||||||||||||||||||||||||||||||||||||||||
Balance at January 1, 2014 | Net Realized/Unrealized | Purchases, Sales and | Transfers Into/Out of Level 3 | Effect of Foreign Currency | Balance at December 31, 2014 | Change in Unrealized Gains/(Losses) Attributable to Assets Held at | ||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) | Settlements, Net | 31-Dec-14 | ||||||||||||||||||||||||||||||||||||||||||||||
Corporate and other debt securities | $ | 14 | $ | — | $ | (13 | ) | $ | — | $ | (1 | ) | $ | — | $ | — | ||||||||||||||||||||||||||||||||
Investment funds | 745 | 103 | 111 | — | (70 | ) | 889 | 103 | ||||||||||||||||||||||||||||||||||||||||
Private equity and debt investments | 430 | 100 | 20 | — | (41 | ) | 509 | 75 | ||||||||||||||||||||||||||||||||||||||||
Real estate investments | 1,405 | 48 | (84 | ) | — | (106 | ) | 1,263 | 44 | |||||||||||||||||||||||||||||||||||||||
Other investments | 618 | 92 | 72 | — | (60 | ) | 722 | 76 | ||||||||||||||||||||||||||||||||||||||||
Total assets | $ | 3,212 | $ | 343 | $ | 106 | $ | — | $ | (278 | ) | $ | 3,383 | $ | 298 | |||||||||||||||||||||||||||||||||
Balance at January 1, 2013 | Net Realized/Unrealized | Purchases, Sales and | Transfers Into/Out of Level 3 | Effect of Foreign Currency | Balance at December 31, 2013 | Change in Unrealized Gains/(Losses) Attributable to Assets Held at | ||||||||||||||||||||||||||||||||||||||||||
Gains (Losses) | Settlements, Net | 31-Dec-13 | ||||||||||||||||||||||||||||||||||||||||||||||
Corporate and other debt securities | $ | 5 | $ | 1 | $ | 7 | $ | 1 | $ | — | $ | 14 | $ | 1 | ||||||||||||||||||||||||||||||||||
Investment funds | 641 | 110 | 27 | — | (33 | ) | 745 | 112 | ||||||||||||||||||||||||||||||||||||||||
Private equity and debt investments | 381 | 73 | 3 | — | (27 | ) | 430 | 53 | ||||||||||||||||||||||||||||||||||||||||
Real estate investments | 1,422 | 103 | (57 | ) | — | (63 | ) | 1,405 | 122 | |||||||||||||||||||||||||||||||||||||||
Other investments | 665 | (10 | ) | (43 | ) | — | 6 | 618 | 4 | |||||||||||||||||||||||||||||||||||||||
Total assets | $ | 3,114 | $ | 277 | $ | (63 | ) | $ | 1 | $ | (117 | ) | $ | 3,212 | $ | 292 | ||||||||||||||||||||||||||||||||
OPEB Plan [Member] | ||||||||||||||||||||||||||||||||||||||||||||||||
Defined Benefit Plan Disclosure [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of contributions to employee benefit plans | The following table summarizes contributions to the U.S. OPEB plans (dollars in millions): | |||||||||||||||||||||||||||||||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||||||||||
Employer contributions | $ | 354 | $ | 393 | $ | 432 | ||||||||||||||||||||||||||||||||||||||||||
Plan participants' contributions | 22 | 29 | 4 | |||||||||||||||||||||||||||||||||||||||||||||
Total contributions | $ | 376 | $ | 422 | $ | 436 | ||||||||||||||||||||||||||||||||||||||||||
Commitments_and_Contingencies_
Commitments and Contingencies (Tables) | 12 Months Ended | |||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||
Commitments and Contingencies Disclosure [Abstract] | ||||||||||||||||||||||||
Schedule of Guarantor Obligations [Table Text Block] | The following tables summarize information related to commitments and contingencies (dollars in millions): | |||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Liability Recorded | Maximum Liability(a) | Liability Recorded | Maximum Liability(a) | |||||||||||||||||||||
Guarantees | ||||||||||||||||||||||||
Third-party commercial loans and other obligations(b) | $ | 37 | $ | 197 | $ | 51 | $ | 15,616 | ||||||||||||||||
Other product-related claims | $ | 51 | $ | 2,458 | $ | 54 | $ | 1,317 | ||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Calculated as future undiscounted payments. | |||||||||||||||||||||||
(b) | Includes liabilities recorded of $10 million and maximum liabilities of $15.3 billion related to Ally Financial repurchase obligations at December 31, 2013. | |||||||||||||||||||||||
Commitment and Contingencies [Table Text Block] | ||||||||||||||||||||||||
Liability Recorded | ||||||||||||||||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||||||||||||||
Other litigation-related liability and tax administrative matters | $ | 1,000 | $ | 1,227 | ||||||||||||||||||||
Product liability | $ | 732 | $ | 690 | ||||||||||||||||||||
Ignition switch recall compensation program | $ | 315 | ||||||||||||||||||||||
Credit card programs(a) | ||||||||||||||||||||||||
Redemption liability(b) | $ | 87 | $ | 183 | ||||||||||||||||||||
Deferred revenue(c) | $ | 263 | $ | 295 | ||||||||||||||||||||
Environmental liability | $ | 133 | $ | 154 | ||||||||||||||||||||
Asset retirement obligations | $ | 146 | $ | 159 | ||||||||||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Credit card programs offer rebates that can be applied primarily against the purchase or lease of our vehicles. At December 31, 2014 and 2013 qualified cardholders had rebates available, net of deferred program revenue, of approximately $2.3 billion and $2.6 billion. | |||||||||||||||||||||||
(b) | Recorded in Accrued liabilities. | |||||||||||||||||||||||
(c) | Recorded in Other liabilities. | |||||||||||||||||||||||
Schedule of Future Minimum Commitments for Operating Leases [Table Text Block] | The following table summarizes our minimum commitments under noncancelable operating leases having initial terms in excess of one year, primarily for property (dollars in millions): | |||||||||||||||||||||||
2015 | 2016 | 2017 | 2018 | 2019 | Thereafter | |||||||||||||||||||
Minimum commitments(a) | $ | 348 | $ | 280 | $ | 196 | $ | 171 | $ | 144 | $ | 396 | ||||||||||||
Sublease income | (53 | ) | (62 | ) | (59 | ) | (56 | ) | (54 | ) | (248 | ) | ||||||||||||
Net minimum commitments | $ | 295 | $ | 218 | $ | 137 | $ | 115 | $ | 90 | $ | 148 | ||||||||||||
__________ | ||||||||||||||||||||||||
(a) | Certain of the leases contain escalation clauses and renewal or purchase options. |
Income_Taxes_Tables
Income Taxes (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Income Tax Disclosure [Abstract] | ||||||||||||
Schedule of Income before Income Tax and Equity Income [Table Text Block] | The following table summarizes income (loss) before income taxes and equity income (dollars in millions): | |||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
U.S. income (loss) | $ | 1,683 | $ | 4,880 | $ | (19,063 | ) | |||||
Non-U.S. income (loss) | 469 | 768 | (11,194 | ) | ||||||||
Income (loss) before income taxes and equity income | $ | 2,152 | $ | 5,648 | $ | (30,257 | ) | |||||
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | The following table summarizes Income tax expense (benefit) (dollars in millions): | |||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Current income tax expense (benefit) | ||||||||||||
U.S. federal | $ | (23 | ) | $ | (34 | ) | $ | 6 | ||||
U.S. state and local | 154 | 88 | 78 | |||||||||
Non-U.S. | 671 | 512 | 646 | |||||||||
Total current income tax expense | 802 | 566 | 730 | |||||||||
Deferred income tax expense (benefit) | ||||||||||||
U.S. federal | (581 | ) | 1,049 | (28,965 | ) | |||||||
U.S. state and local | (60 | ) | 137 | (3,415 | ) | |||||||
Non-U.S. | 67 | 375 | (3,181 | ) | ||||||||
Total deferred income tax expense (benefit) | (574 | ) | 1,561 | (35,561 | ) | |||||||
Total income tax expense (benefit) | $ | 228 | $ | 2,127 | $ | (34,831 | ) | |||||
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | The following table summarizes a reconciliation of Income tax expense (benefit) compared with the amounts at the U.S. federal statutory income tax rate (dollars in millions): | |||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Income tax expense (benefit) at U.S. federal statutory income tax rate | $ | 753 | $ | 1,977 | $ | (10,590 | ) | |||||
State and local tax expense | 73 | 145 | 254 | |||||||||
Non-U.S. income taxed at other than 35% | (72 | ) | (168 | ) | 908 | |||||||
Foreign tax credit election change | — | — | (1,075 | ) | ||||||||
U.S. tax on Non-U.S. income | (8 | ) | 543 | 713 | ||||||||
Change in valuation allowance | (402 | ) | 182 | (33,917 | ) | |||||||
Change in tax laws | 602 | 146 | 67 | |||||||||
Research incentives | (279 | ) | (490 | ) | (68 | ) | ||||||
Goodwill impairment | 41 | 124 | 8,705 | |||||||||
Settlements of prior year tax matters | (275 | ) | (473 | ) | — | |||||||
Realization of basis differences in affiliates | (256 | ) | — | — | ||||||||
Foreign currency remeasurement | 124 | (21 | ) | (36 | ) | |||||||
U.S. salaried pension plan settlement | — | — | 541 | |||||||||
Other adjustments | (73 | ) | 162 | (333 | ) | |||||||
Total income tax expense (benefit) | $ | 228 | $ | 2,127 | $ | (34,831 | ) | |||||
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | The following table summarizes the components of temporary differences and carryforwards that give rise to deferred tax assets and liabilities (dollars in millions): | |||||||||||
December 31, 2014 | December 31, 2013 | |||||||||||
Deferred tax assets | ||||||||||||
Postretirement benefits other than pensions | $ | 2,958 | $ | 2,902 | ||||||||
Pension and other employee benefit plans | 7,503 | 5,469 | ||||||||||
Warranties, dealer and customer allowances, claims and discounts | 5,512 | 4,282 | ||||||||||
Property, plants and equipment | 2,323 | 2,464 | ||||||||||
Capitalized research expenditures | 8,588 | 7,179 | ||||||||||
Operating loss and tax credit carryforwards(a) | 14,136 | 19,342 | ||||||||||
Miscellaneous | 3,286 | 1,663 | ||||||||||
Total deferred tax assets before valuation allowances | 44,306 | 43,301 | ||||||||||
Less: valuation allowances | (9,659 | ) | (10,823 | ) | ||||||||
Total deferred tax assets | 34,647 | 32,478 | ||||||||||
Deferred tax liabilities | ||||||||||||
Intangible assets | 416 | 397 | ||||||||||
Net deferred tax assets | $ | 34,231 | $ | 32,081 | ||||||||
_________ | ||||||||||||
(a) | Includes operating loss and tax credit carryforwards of $8.9 billion expiring through 2034 and $5.2 billion that may be carried forward indefinitely at December 31, 2014. | |||||||||||
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | The following table summarizes activity of the total amounts of unrecognized tax benefits (dollars in millions): | |||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Beginning balance | $ | 2,530 | $ | 2,745 | $ | 2,370 | ||||||
Additions to current year tax positions | 184 | 251 | 112 | |||||||||
Additions to prior years' tax positions | 149 | 276 | 512 | |||||||||
Reductions to prior years' tax positions | (603 | ) | (535 | ) | (141 | ) | ||||||
Reductions in tax positions due to lapse of statutory limitations | (164 | ) | (73 | ) | (34 | ) | ||||||
Settlements | (138 | ) | (132 | ) | (112 | ) | ||||||
Other | (81 | ) | (2 | ) | 38 | |||||||
Ending balance | $ | 1,877 | $ | 2,530 | $ | 2,745 | ||||||
Restructuring_And_Other_Initia1
Restructuring And Other Initiatives (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Restructuring and Related Activities [Abstract] | ||||||||||||||||||||
Schedule of Restructuring and Related Costs [Table Text Block] | The following table summarizes the reserves related to restructuring and other initiatives and charges by segment, including postemployment benefit reserves and charges (dollars in millions): | |||||||||||||||||||
GMNA | GME | GMIO | GMSA | Total | ||||||||||||||||
Balance at January 1, 2012 | $ | 884 | $ | 687 | $ | 1 | $ | 12 | $ | 1,584 | ||||||||||
Additions, interest accretion and other | 140 | 254 | 84 | 92 | 570 | |||||||||||||||
Payments | (304 | ) | (344 | ) | (46 | ) | (55 | ) | (749 | ) | ||||||||||
Revisions to estimates and effect of foreign currency | (67 | ) | (7 | ) | — | (11 | ) | (85 | ) | |||||||||||
Balance at December 31, 2012(a) | 653 | 590 | 39 | 38 | 1,320 | |||||||||||||||
Additions, interest accretion and other | 58 | 202 | 404 | 50 | 714 | |||||||||||||||
Payments | (182 | ) | (299 | ) | (111 | ) | (68 | ) | (660 | ) | ||||||||||
Revisions to estimates and effect of foreign currency | (32 | ) | 10 | 1 | (4 | ) | (25 | ) | ||||||||||||
Balance at December 31, 2013(a) | 497 | 503 | 333 | 16 | 1,349 | |||||||||||||||
Additions, interest accretion and other | 42 | 675 | 213 | 83 | 1,013 | |||||||||||||||
Payments | (96 | ) | (329 | ) | (342 | ) | (95 | ) | (862 | ) | ||||||||||
Revisions to estimates and effect of foreign currency | 16 | (98 | ) | (38 | ) | (2 | ) | (122 | ) | |||||||||||
Balance at December 31, 2014(a) | $ | 459 | $ | 751 | $ | 166 | $ | 2 | $ | 1,378 | ||||||||||
__________ | ||||||||||||||||||||
(a) | The remaining cash payments related to these reserves for restructuring and other initiatives, including temporary layoff benefits of $354 million, $353 million and $356 million at December 31, 2014, 2013 and 2012 for GMNA, primarily relate to postemployment benefits to be paid. |
Interest_Income_and_Other_NonO1
Interest Income and Other Non-Operating Income, net (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Interest and Other Income [Abstract] | ||||||||||||
Interest and Other Income [Table Text Block] | The following table summarizes the components of Interest income and other non-operating income, net (dollars in millions): | |||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Interest income | $ | 211 | $ | 246 | $ | 343 | ||||||
Net gains (losses) on derivatives | 48 | (13 | ) | (63 | ) | |||||||
Dividends and royalties | 101 | 97 | 98 | |||||||||
Foreign currency transaction and remeasurement gains (losses) | 378 | (154 | ) | 16 | ||||||||
Gains (losses) on securities and other investments - realized and unrealized | 13 | 691 | (193 | ) | ||||||||
Deferred income from technology agreements | — | 100 | 114 | |||||||||
Other | 72 | 96 | 530 | |||||||||
Total interest income and other non-operating income, net | $ | 823 | $ | 1,063 | $ | 845 | ||||||
Stockholders_Equity_and_Noncon1
Stockholders' Equity and Noncontrolling Interests (Tables) | 12 Months Ended | |||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ||||||||||||||||||||
Schedule of Stock by Class [Table Text Block] | The following table summarizes significant features relating to our preferred and common stock (dollars in millions, except for per share amounts): | |||||||||||||||||||
Liquidation Preference Per Share | Dividend Per Annum | Dividends Paid | ||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
Series A Preferred Stock | $ | 25 | 9 | % | $ | 1,160 | $ | 1,370 | $ | 621 | ||||||||||
Series B Preferred Stock | $ | 50 | 4.75 | % | $ | 237 | $ | 238 | ||||||||||||
Common stock | N/A | $ | 1.2 | $ | 1,928 | $ | — | $ | — | |||||||||||
Schedule of Accumulated Other Comprehensive Income (Loss) [Table Text Block] | The following table summarizes the components of Accumulated other comprehensive loss (dollars in millions): | |||||||||||||||||||
Years Ended December 31, | ||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||
Foreign Currency Translation Adjustments | ||||||||||||||||||||
Balance at beginning of period | $ | (614 | ) | $ | 101 | $ | 215 | |||||||||||||
Other comprehensive loss | (477 | ) | (722 | ) | (103 | ) | ||||||||||||||
Tax expense (benefit) | (4 | ) | 11 | — | ||||||||||||||||
Other comprehensive loss, net of tax | (473 | ) | (733 | ) | (103 | ) | ||||||||||||||
Other comprehensive income (loss) attributable to noncontrolling interests, net of tax | 23 | 18 | (11 | ) | ||||||||||||||||
Balance at end of period | $ | (1,064 | ) | $ | (614 | ) | $ | 101 | ||||||||||||
Unrealized Gains and Losses on Securities, Net | ||||||||||||||||||||
Balance at beginning of period | $ | 2 | $ | 41 | $ | (4 | ) | |||||||||||||
Other comprehensive income (loss) before reclassification adjustment | (2 | ) | 133 | (140 | ) | |||||||||||||||
Tax expense (benefit) | (1 | ) | (6 | ) | 22 | |||||||||||||||
Other comprehensive income (loss) before reclassification adjustment, net of tax | (1 | ) | 139 | (162 | ) | |||||||||||||||
Reclassification adjustment | (7 | ) | (185 | ) | 202 | |||||||||||||||
Tax benefit | (3 | ) | (7 | ) | (5 | ) | ||||||||||||||
Reclassification adjustment, net of tax | (4 | ) | (178 | ) | 207 | |||||||||||||||
Other comprehensive income (loss), net of tax | (5 | ) | (39 | ) | 45 | |||||||||||||||
Balance at end of period | $ | (3 | ) | $ | 2 | $ | 41 | |||||||||||||
Defined Benefit Plans, Net | ||||||||||||||||||||
Balance at beginning of period | $ | (2,501 | ) | $ | (8,194 | ) | $ | (6,074 | ) | |||||||||||
Other comprehensive income (loss) before reclassification adjustment - prior service cost or credit | (20 | ) | 6 | (53 | ) | |||||||||||||||
Other comprehensive income (loss) before reclassification adjustment - actuarial gains or losses | (6,457 | ) | 8,673 | (3,180 | ) | |||||||||||||||
Tax expense (benefit) | (1,854 | ) | 3,087 | (1,021 | ) | |||||||||||||||
Other comprehensive income (loss) before reclassification adjustment, net of tax | (4,623 | ) | 5,592 | (2,212 | ) | |||||||||||||||
Reclassification adjustment - prior service cost or credit(a) | 22 | (128 | ) | (125 | ) | |||||||||||||||
Reclassification adjustment - actuarial gains or losses(a) | 76 | 178 | 229 | |||||||||||||||||
Tax expense (benefit)(a) | (20 | ) | (51 | ) | 12 | |||||||||||||||
Reclassification adjustment, net of tax(a) | 118 | 101 | 92 | |||||||||||||||||
Other comprehensive income (loss), net of tax | (4,505 | ) | 5,693 | (2,120 | ) | |||||||||||||||
Balance at end of period | $ | (7,006 | ) | $ | (2,501 | ) | $ | (8,194 | ) | |||||||||||
__________ | ||||||||||||||||||||
(a) | Included in the computation of net periodic pension and OPEB (income) expense. Refer to Note 15 for additional information. |
Earnings_Per_Share_Tables
Earnings Per Share (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Earnings Per Share [Abstract] | ||||||||||||
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | The following table summarizes basic and diluted earnings per share (in millions, except for per share amounts): | |||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Basic earnings per share | ||||||||||||
Net income attributable to stockholders | $ | 3,949 | $ | 5,346 | $ | 6,188 | ||||||
Less: cumulative dividends on preferred stock and charge related to redemption and purchase of preferred stock(a) | (1,145 | ) | (1,576 | ) | (859 | ) | ||||||
Less: undistributed earnings allocated to Series B Preferred Stock participating security | — | (470 | ) | |||||||||
Net income attributable to common stockholders | $ | 2,804 | $ | 3,770 | $ | 4,859 | ||||||
Weighted-average common shares outstanding - basic | 1,605 | 1,393 | 1,566 | |||||||||
Basic earnings per common share | $ | 1.75 | $ | 2.71 | $ | 3.1 | ||||||
Diluted earnings per share | ||||||||||||
Net income attributable to stockholders | $ | 3,949 | $ | 5,346 | $ | 6,188 | ||||||
Add: preferred dividends to holders of Series B Preferred Stock | 218 | — | ||||||||||
Less: cumulative dividends on preferred stock and charge related to redemption and purchase of preferred stock(a) | (1,145 | ) | (1,576 | ) | (859 | ) | ||||||
Less: undistributed earnings allocated to Series B Preferred Stock participating security | — | (442 | ) | |||||||||
Less: earnings adjustment for dilutive stock compensation | (18 | ) | ||||||||||
Net income attributable to common stockholders | $ | 2,786 | $ | 3,988 | $ | 4,887 | ||||||
Weighted-average common shares outstanding - diluted | ||||||||||||
Weighted-average common shares outstanding - basic | 1,605 | 1,393 | 1,566 | |||||||||
Dilutive effect of warrants and RSUs | 82 | 149 | 109 | |||||||||
Dilutive effect of conversion of Series B Preferred Stock | 134 | — | ||||||||||
Weighted-average common shares outstanding - diluted | 1,687 | 1,676 | 1,675 | |||||||||
Diluted earnings per common share | $ | 1.65 | $ | 2.38 | $ | 2.92 | ||||||
__________ | ||||||||||||
(a) | Includes earned but undeclared dividends of $15 million and $26 million on our Series A Preferred Stock in the years ended December 31, 2013 and 2012 and $20 million on our Series B Preferred Stock in the year ended December 31, 2012. |
Stock_Incentive_Plans_Tables
Stock Incentive Plans (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | ||||||||||||
Schedule of Share-based Compensation Activity [Table Text Block] | The following table summarizes information about the RSUs and PSUs under our stock incentive plans (units in millions): | |||||||||||
Shares | Weighted-Average Grant Date Fair Value | Weighted-Average Remaining Contractual Term in Years | ||||||||||
Units outstanding at January 1, 2014 | 18.6 | $ | 27.76 | 1.2 | ||||||||
Granted | 12.1 | $ | 35.31 | |||||||||
Settled | (9.3 | ) | $ | 27.85 | ||||||||
Forfeited or expired | (1.5 | ) | $ | 30.39 | ||||||||
Units outstanding at December 31, 2014 | 19.9 | $ | 32.11 | 1.3 | ||||||||
Units unvested and expected to vest at December 31, 2014 | 12.7 | $ | 32.91 | 1.5 | ||||||||
Units vested and payable at December 31, 2014 | 6.7 | $ | 30.49 | |||||||||
Units granted in the year ended December 31, 2013 | $ | 29.05 | ||||||||||
Units granted in the year ended December 31, 2012 | $ | 25.1 | ||||||||||
Schedule of Compensation Cost for Stock Incentive Plans [Table Text Block] | The following table summarizes compensation expense recorded for our stock incentive plans (dollars in millions): | |||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Compensation expense | $ | 245 | $ | 311 | $ | 302 | ||||||
Income tax benefit | $ | 81 | $ | 100 | $ | 100 | ||||||
Supplementary_Quarterly_Financ1
Supplementary Quarterly Financial Information (Unaudited) (Tables) | 12 Months Ended | |||||||||||||||
Dec. 31, 2014 | ||||||||||||||||
Quarterly Financial Information Disclosure [Abstract] | ||||||||||||||||
Schedule of Quarterly Financial Information [Table Text Block] | The following tables summarize supplementary quarterly financial information (dollars in millions, except per share amounts): | |||||||||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||||||||||
2014 | ||||||||||||||||
Total net sales and revenue | $ | 37,408 | $ | 39,649 | $ | 39,255 | $ | 39,617 | ||||||||
Automotive gross margin | $ | 2,188 | $ | 2,611 | $ | 3,945 | $ | 4,266 | ||||||||
Net income | $ | 280 | $ | 287 | $ | 1,442 | $ | 2,009 | ||||||||
Net income attributable to stockholders | $ | 213 | $ | 278 | $ | 1,471 | $ | 1,987 | ||||||||
Earnings per share, basic | $ | 0.08 | $ | 0.12 | $ | 0.86 | $ | 0.69 | ||||||||
Earnings per share, diluted | $ | 0.06 | $ | 0.11 | $ | 0.81 | $ | 0.66 | ||||||||
1st Quarter | 2nd Quarter | 3rd Quarter | 4th Quarter | |||||||||||||
2013 | ||||||||||||||||
Total net sales and revenue | $ | 36,884 | $ | 39,075 | $ | 38,983 | $ | 40,485 | ||||||||
Automotive gross margin | $ | 3,727 | $ | 4,416 | $ | 4,954 | $ | 4,070 | ||||||||
Net income | $ | 1,185 | $ | 1,388 | $ | 1,705 | $ | 1,053 | ||||||||
Net income attributable to stockholders | $ | 1,175 | $ | 1,414 | $ | 1,717 | $ | 1,040 | ||||||||
Earnings per share, basic | $ | 0.63 | $ | 0.87 | $ | 0.5 | $ | 0.64 | ||||||||
Earnings per share, diluted | $ | 0.58 | $ | 0.75 | $ | 0.45 | $ | 0.57 | ||||||||
Segment_Reporting_Tables
Segment Reporting (Tables) | 12 Months Ended | |||||||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | ||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | ||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Reporting Information, by Segment [Table Text Block] | The following tables summarize key financial information by segment (dollars in millions): | |||||||||||||||||||||||||||||||||||||||
At and For the Year Ended December 31, 2014 | ||||||||||||||||||||||||||||||||||||||||
GMNA | GME | GMIO | GMSA | Corporate | Eliminations | Total Automotive | GM Financial | Eliminations | Total | |||||||||||||||||||||||||||||||
Sales | ||||||||||||||||||||||||||||||||||||||||
External customers | $ | 101,199 | $ | 22,235 | $ | 14,392 | $ | 13,115 | $ | 151 | $ | 151,092 | $ | — | $ | — | $ | 151,092 | ||||||||||||||||||||||
GM Financial revenue | — | — | — | — | — | — | 4,854 | (17 | ) | 4,837 | ||||||||||||||||||||||||||||||
Total net sales and revenue | $ | 101,199 | $ | 22,235 | $ | 14,392 | $ | 13,115 | $ | 151 | $ | 151,092 | $ | 4,854 | $ | (17 | ) | $ | 155,929 | |||||||||||||||||||||
Income (loss) before interest and taxes-adjusted | $ | 6,603 | $ | (1,369 | ) | $ | 1,222 | $ | (180 | ) | $ | (580 | ) | $ | 5,696 | $ | 803 | $ | (5 | ) | $ | 6,494 | ||||||||||||||||||
Adjustments(a) | $ | (975 | ) | $ | (245 | ) | $ | (180 | ) | $ | (539 | ) | $ | (400 | ) | $ | (2,339 | ) | $ | 12 | $ | — | (2,327 | ) | ||||||||||||||||
Automotive interest income | 211 | |||||||||||||||||||||||||||||||||||||||
Automotive interest expense | (403 | ) | ||||||||||||||||||||||||||||||||||||||
Gain on extinguishment of debt | 202 | |||||||||||||||||||||||||||||||||||||||
Net income attributable to noncontrolling interests | 69 | |||||||||||||||||||||||||||||||||||||||
Income before income taxes | $ | 4,246 | ||||||||||||||||||||||||||||||||||||||
Equity in net assets of nonconsolidated affiliates | $ | 88 | $ | 6 | $ | 8,254 | $ | 2 | $ | — | $ | — | $ | 8,350 | $ | — | $ | — | $ | 8,350 | ||||||||||||||||||||
Total assets | $ | 92,864 | $ | 10,528 | $ | 22,949 | $ | 10,066 | $ | 24,368 | $ | (29,041 | ) | $ | 131,734 | $ | 47,861 | $ | (1,918 | ) | $ | 177,677 | ||||||||||||||||||
Expenditures for property | $ | 4,985 | $ | 887 | $ | 681 | $ | 359 | $ | 127 | $ | — | $ | 7,039 | $ | 52 | $ | — | $ | 7,091 | ||||||||||||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | $ | 4,376 | $ | 627 | $ | 740 | $ | 386 | $ | 75 | $ | (4 | ) | $ | 6,200 | $ | 918 | $ | — | $ | 7,118 | |||||||||||||||||||
Equity income (loss) | $ | 19 | $ | (45 | ) | $ | 2,120 | $ | — | $ | — | $ | — | $ | 2,094 | $ | — | $ | — | $ | 2,094 | |||||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||||||||||
(a) | Consists of a catch-up adjustment related to the change in estimate for recall campaigns of $874 million and charges related to flood damage, net of insurance recoveries, of $101 million in GMNA; asset impairment charges of $245 million related to our Russian subsidiaries in GME; asset impairment charges of $158 million related to our Thailand subsidiary in GMIO; Venezuela currency devaluation charges of $419 million and Goodwill impairment charges of $120 million in GMSA; a charge related to the ignition switch recall compensation program of $400 million in Corporate; and other of $10 million. | |||||||||||||||||||||||||||||||||||||||
At and For the Year Ended December 31, 2013 | ||||||||||||||||||||||||||||||||||||||||
GMNA | GME | GMIO | GMSA | Corporate | Eliminations | Total Automotive | GM Financial | Eliminations | Total | |||||||||||||||||||||||||||||||
Sales | ||||||||||||||||||||||||||||||||||||||||
External customers | $ | 95,091 | $ | 21,962 | $ | 18,411 | $ | 16,478 | $ | 150 | $ | 152,092 | $ | — | $ | — | $ | 152,092 | ||||||||||||||||||||||
GM Financial revenue | — | — | — | — | — | — | 3,344 | (9 | ) | 3,335 | ||||||||||||||||||||||||||||||
Intersegment | 8 | — | — | — | — | 8 | — | (8 | ) | — | ||||||||||||||||||||||||||||||
Total net sales and revenue | $ | 95,099 | $ | 21,962 | $ | 18,411 | $ | 16,478 | $ | 150 | $ | 152,100 | $ | 3,344 | $ | (17 | ) | $ | 155,427 | |||||||||||||||||||||
Income (loss) before interest and taxes-adjusted | $ | 7,461 | $ | (869 | ) | $ | 1,255 | $ | 327 | $ | (494 | ) | $ | 7,680 | $ | 898 | $ | — | $ | 8,578 | ||||||||||||||||||||
Adjustments(a) | $ | (100 | ) | $ | 153 | $ | (1,169 | ) | $ | (157 | ) | $ | 483 | $ | (790 | ) | $ | (15 | ) | $ | — | (805 | ) | |||||||||||||||||
Automotive interest income | 246 | |||||||||||||||||||||||||||||||||||||||
Automotive interest expense | (334 | ) | ||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | (212 | ) | ||||||||||||||||||||||||||||||||||||||
Net loss attributable to noncontrolling interests | (15 | ) | ||||||||||||||||||||||||||||||||||||||
Income before income taxes | $ | 7,458 | ||||||||||||||||||||||||||||||||||||||
Equity in net assets of nonconsolidated affiliates | $ | 74 | $ | 95 | $ | 7,921 | $ | 4 | $ | — | $ | — | $ | 8,094 | $ | — | $ | — | $ | 8,094 | ||||||||||||||||||||
Total assets | $ | 87,978 | $ | 11,276 | $ | 22,100 | $ | 11,488 | $ | 26,460 | $ | (29,252 | ) | $ | 130,050 | $ | 38,084 | $ | (1,790 | ) | $ | 166,344 | ||||||||||||||||||
Expenditures for property | $ | 5,466 | $ | 818 | $ | 724 | $ | 444 | $ | 92 | $ | 5 | $ | 7,549 | $ | 16 | $ | — | $ | 7,565 | ||||||||||||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | $ | 4,216 | $ | 426 | $ | 1,786 | $ | 522 | $ | 63 | $ | (1 | ) | $ | 7,012 | $ | 498 | $ | (10 | ) | $ | 7,500 | ||||||||||||||||||
Equity income | $ | 15 | $ | 34 | $ | 1,760 | $ | 1 | $ | — | $ | — | $ | 1,810 | $ | — | $ | — | $ | 1,810 | ||||||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||||||||||
(a) | Consists of pension settlement charges of $56 million and charges related to PSA product development agreement of $49 million in GMNA; gain on sale of equity investment in PSA of $152 million in GME; property and intangible asset impairment charges of $774 million, costs related to the withdrawal of the Chevrolet brand in Europe of $621 million and goodwill impairment charges of $442 million, partially offset by GM Korea hourly wage litigation of $577 million and acquisition of GM Korea preferred shares of $67 million in GMIO, all net of noncontrolling interests; Venezuela currency devaluation charges of $162 million in GMSA; gain on sale of equity investment in Ally Financial of $483 million in Corporate; costs related to the withdrawal of the Chevrolet brand in Europe of $15 million in GM Financial; and income related to various insurance recoveries of $35 million. | |||||||||||||||||||||||||||||||||||||||
At and For the Year Ended December 31, 2012 | ||||||||||||||||||||||||||||||||||||||||
GMNA | GME | GMIO | GMSA | Corporate | Eliminations | Total Automotive | GM Financial | Eliminations | Total | |||||||||||||||||||||||||||||||
Sales | ||||||||||||||||||||||||||||||||||||||||
External customers | $ | 89,912 | $ | 23,055 | $ | 20,588 | $ | 16,700 | $ | 40 | $ | 150,295 | $ | — | $ | — | $ | 150,295 | ||||||||||||||||||||||
GM Financial revenue | — | — | — | — | — | — | 1,961 | — | 1,961 | |||||||||||||||||||||||||||||||
Intersegment | (2 | ) | — | — | — | — | (2 | ) | — | 2 | — | |||||||||||||||||||||||||||||
Total net sales and revenue | $ | 89,910 | $ | 23,055 | $ | 20,588 | $ | 16,700 | $ | 40 | $ | 150,293 | $ | 1,961 | $ | 2 | $ | 152,256 | ||||||||||||||||||||||
Income (loss) before interest and taxes-adjusted | $ | 6,470 | $ | (1,949 | ) | $ | 2,538 | $ | 457 | $ | (400 | ) | $ | 7,116 | $ | 744 | $ | (1 | ) | $ | 7,859 | |||||||||||||||||||
Adjustments(a) | $ | (29,052 | ) | $ | (6,389 | ) | $ | (290 | ) | $ | 27 | $ | (402 | ) | $ | (36,106 | ) | $ | — | $ | — | (36,106 | ) | |||||||||||||||||
Automotive interest income | 343 | |||||||||||||||||||||||||||||||||||||||
Automotive interest expense | (489 | ) | ||||||||||||||||||||||||||||||||||||||
Loss on extinguishment of debt | (250 | ) | ||||||||||||||||||||||||||||||||||||||
Net loss attributable to noncontrolling interests | (52 | ) | ||||||||||||||||||||||||||||||||||||||
Loss before income taxes | $ | (28,695 | ) | |||||||||||||||||||||||||||||||||||||
Equity in net assets of nonconsolidated affiliates | $ | 65 | $ | 159 | $ | 6,656 | $ | 3 | $ | — | $ | — | $ | 6,883 | $ | — | $ | — | $ | 6,883 | ||||||||||||||||||||
Total assets | $ | 87,100 | $ | 10,475 | $ | 24,147 | $ | 11,958 | $ | 16,991 | $ | (16,927 | ) | $ | 133,744 | $ | 16,368 | $ | (690 | ) | $ | 149,422 | ||||||||||||||||||
Expenditures for property | $ | 4,766 | $ | 1,075 | $ | 1,185 | $ | 956 | $ | 77 | $ | (4 | ) | $ | 8,055 | $ | 13 | $ | — | $ | 8,068 | |||||||||||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | $ | 3,663 | $ | 6,584 | $ | 624 | $ | 483 | $ | 49 | $ | (1 | ) | $ | 11,402 | $ | 225 | $ | (10 | ) | $ | 11,617 | ||||||||||||||||||
Equity income | $ | 9 | $ | 35 | $ | 1,517 | $ | 1 | $ | — | $ | — | $ | 1,562 | $ | — | $ | — | $ | 1,562 | ||||||||||||||||||||
Valuation allowances against deferred tax assets(b) | $ | — | $ | — | $ | — | $ | — | $ | (36,261 | ) | $ | — | $ | (36,261 | ) | $ | (103 | ) | $ | — | $ | (36,364 | ) | ||||||||||||||||
__________ | ||||||||||||||||||||||||||||||||||||||||
(a) | Consists primarily of Goodwill impairment charges of $26.4 billion, pension settlement charges of $2.7 billion and income related to various insurance recoveries of $9 million in GMNA; property impairment charges of $3.7 billion, intangible assets impairment charges of $1.8 billion, goodwill impairment charges of $590 million, impairment charges related to investment in PSA of $220 million, a charge of $119 million to record General Motors Strasbourg S.A.S. assets and liabilities to estimated fair value and income related to various insurance recoveries of $9 million in GME; GM Korea hourly wage litigation charge of $336 million, goodwill impairment charges of $132 million, which are presented net of noncontrolling interests, income related to various insurance recoveries of $110 million and income related to redemption of the GM Korea mandatorily redeemable preferred shares of $68 million in GMIO; income related to various insurance recoveries of $27 million in GMSA; and a charge of $402 million which represents the premium paid to purchase our common stock from the UST in Corporate. | |||||||||||||||||||||||||||||||||||||||
(b) | Includes valuation allowance releases of $36.5 billion net of the establishment of new valuation allowances of $0.1 billion. Amounts exclude changes related to income tax expense (benefits) in jurisdictions with a full valuation allowance throughout the period. | |||||||||||||||||||||||||||||||||||||||
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block] | The following table summarizes information concerning principal geographic areas (dollars in millions): | |||||||||||||||||||||||||||||||||||||||
At and For the Years Ended December 31, | ||||||||||||||||||||||||||||||||||||||||
2014 | 2013 | 2012 | ||||||||||||||||||||||||||||||||||||||
Net Sales & Revenue | Long-Lived Assets | Net Sales & Revenue | Long-Lived Assets | Net Sales & Revenue | Long-Lived Assets | |||||||||||||||||||||||||||||||||||
Automotive | ||||||||||||||||||||||||||||||||||||||||
U.S. | $ | 93,559 | $ | 18,813 | $ | 88,784 | $ | 15,844 | $ | 85,105 | $ | 13,520 | ||||||||||||||||||||||||||||
Non-U.S. | 57,533 | 12,355 | 63,308 | 12,289 | 65,190 | 12,425 | ||||||||||||||||||||||||||||||||||
GM Financial | ||||||||||||||||||||||||||||||||||||||||
U.S. | 2,549 | 5,477 | 2,233 | 2,472 | 1,832 | 1,112 | ||||||||||||||||||||||||||||||||||
Non-U.S. | 2,288 | 1,755 | 1,102 | 1,043 | 129 | 590 | ||||||||||||||||||||||||||||||||||
Total consolidated | $ | 155,929 | $ | 38,400 | $ | 155,427 | $ | 31,648 | $ | 152,256 | $ | 27,647 | ||||||||||||||||||||||||||||
Supplemental_Information_for_t1
Supplemental Information for the Consolidated Statements of Cash Flows (Tables) | 12 Months Ended | |||||||||||
Dec. 31, 2014 | ||||||||||||
Supplemental Cash Flow Information [Abstract] | ||||||||||||
Schedule of Cash Flow, Supplemental Disclosures [Table Text Block] | The following table summarizes the sources (uses) of cash provided by Change in other operating assets and liabilities and cash paid for income taxes and interest (dollars in millions): | |||||||||||
Years Ended December 31, | ||||||||||||
2014 | 2013 | 2012 | ||||||||||
Accounts receivable | $ | (1,248 | ) | $ | 8 | $ | (460 | ) | ||||
Purchases of wholesale receivables, net | (2,000 | ) | — | — | ||||||||
Inventories | (309 | ) | 59 | (326 | ) | |||||||
Automotive equipment on operating leases | (1,949 | ) | (968 | ) | 370 | |||||||
Change in other assets | (213 | ) | (563 | ) | (312 | ) | ||||||
Accounts payable | 19 | (485 | ) | 162 | ||||||||
Income taxes payable | (145 | ) | (161 | ) | 155 | |||||||
Accrued liabilities and other liabilities | 6,089 | 784 | 1,041 | |||||||||
Total | $ | 244 | $ | (1,326 | ) | $ | 630 | |||||
Cash paid for income taxes and interest | ||||||||||||
Cash paid for income taxes | $ | 947 | $ | 727 | $ | 575 | ||||||
Cash paid for interest (net of amounts capitalized) - Automotive | $ | 301 | $ | 299 | $ | 335 | ||||||
Cash paid for interest (net of amounts capitalized) - GM Financial | 1,120 | 760 | 298 | |||||||||
Total cash paid for interest (net of amounts capitalized) | $ | 1,421 | $ | 1,059 | $ | 633 | ||||||
Nature_Of_Operations_and_Basis2
Nature Of Operations and Basis of Presentation (Details) (USD $) | 12 Months Ended | 3 Months Ended | 6 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Dec. 31, 2014 |
Vehicles recalled | 42,000,000 | ||||
Recall campaign and courtesy transportation charges | $2,910 | $640 | $775 | ||
Ignition Switch Recall Compensation Program [Member] | |||||
Charge related to ignition switch recall compensation program | 400 | ||||
GMNA [Member] | |||||
Vehicles recalled | 8,100,000 | ||||
GMNA [Member] | Warranty Obligations [Member] | |||||
Recall campaigns catch-up adjustment | 874 | 200 | |||
GMNA [Member] | Warranty Obligations [Member] | Automotive Cost of Sales [Member] | |||||
Recall campaigns catch-up adjustment | $874 |
Significant_Accounting_Policie3
Significant Accounting Policies (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Cash Equivalents [Abstract] | |||
Maximum Maturity Days for Highly Liquid Securities | 90 days | ||
Pension and Other Postretirement Plans [Abstract] | |||
Percentage Recognized as Pension Expense in the First Year | 60.00% | ||
Percentage of Pension Expense Recognized in the Next Four Years | 10.00% | ||
Period Of Time Over Which Pension Return Adjustment Is Amortized | 4 years | ||
Percentage of Non-US Pension Benefit Obligation Related to Canada, United Kingdom and Germany | 92.00% | ||
Income Taxes [Abstract] | |||
Valuation Allowance Methodology Number Of Years Utilized | 3 years | ||
Minimum Percentage Threshold To Recognize The Tax Benefit For Uncertain Tax Positions | 50.00% | ||
Foreign Currency Transactions and Translation [Abstract] | |||
Foreign currency transaction and remeasurement losses | $437,000,000 | $350,000,000 | $117,000,000 |
Vehicles [Member] | Maximum [Member] | |||
Equipment on Operating Leases, net [Abstract] | |||
Lease Term to Retail Customers | 60 months | ||
Lease Term to Rental Car Companies | 8 months | ||
GM Financial [Member] | Consumer Finance Receivable [Member] | |||
Revenue Recognition [Abstract] | |||
Days Past Due Threshold for Suspending Accrual of Finance Charge Income | 60 days | ||
Finance Receivables [Abstract] | |||
Days Past Due Threshold for Charge Off of Finance Receivables | 120 days | ||
GM Financial [Member] | Commercial Finance Receivables [Member] | |||
Revenue Recognition [Abstract] | |||
Days Past Due Threshold for Suspending Accrual of Finance Charge Income | 90 days | ||
Automotive [Member] | |||
Allowance for Doubtful Accounts [Roll Forward] | |||
Balance at Beginning of Period | 344,000,000 | 311,000,000 | 331,000,000 |
Amounts Charged (Credited) to Costs and Expenses | 50,000,000 | 61,000,000 | -10,000,000 |
Deductions | -8,000,000 | -24,000,000 | -46,000,000 |
Effect of foreign currency and other | -46,000,000 | -4,000,000 | 36,000,000 |
Balance at End of Period | 340,000,000 | 344,000,000 | 311,000,000 |
Automotive Selling, General and Administrative Expense [Member] | |||
Advertising and Promotion Expenditures [Abstract] | |||
Advertising and Promotion Expenditures | 5,200,000,000 | 5,500,000,000 | 5,400,000,000 |
Automotive Cost of Sales [Member] | |||
Research and Development Expenditures [Abstract] | |||
Research and Development Expenditures | $7,400,000,000 | $7,200,000,000 | $7,400,000,000 |
Acquisition_of_Businesses_Aqui
Acquisition of Businesses Aquisition of Ally International Operations (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||
Dec. 31, 2013 | Jan. 31, 2015 | Nov. 30, 2012 | Jan. 02, 2015 | |
Business Acquisition [Line Items] | ||||
Goodwill from business combinations | $154,000,000 | |||
Ally International Operations - SAIC-GMAC [Member] | Subsequent Event [Member] | ||||
Business Acquisition [Line Items] | ||||
Cumulative Indirect Percentage Ownership in SAIC-GMAC | 45.00% | |||
GM Financial [Member] | ||||
Business Acquisition [Line Items] | ||||
Goodwill from business combinations | 144,000,000 | |||
GM Financial [Member] | Ally International Operations - Europe and Latin America [Member] | ||||
Business Acquisition [Line Items] | ||||
Percentage of Voting Interests Acquired | 100.00% | |||
Aggregate Consideration for Acquisitions | 3,300,000,000 | |||
Goodwill from business combinations | 144,000,000 | |||
Business Acquisition, Pro Forma Revenue | 156,300,000,000 | |||
Business Acquisition, Pro Forma Net Income (Loss) | 5,500,000,000 | |||
GM Financial [Member] | Ally International Operations - SAIC-GMAC [Member] | Subsequent Event [Member] | ||||
Business Acquisition [Line Items] | ||||
Percentage of Voting Interests Acquired | 40.00% | |||
Aggregate Consideration for Acquisitions | 1,000,000,000 | |||
Percentage ownership sold | 5.00% | |||
Sales proceeds | 120,000,000 |
Marketable_Securities_Marketab
Marketable Securities Marketable Securities (Details) (USD $) | 1 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Nov. 30, 2013 |
Marketable Securities [Line Items] | ||||
Total Marketable securities | $8,972 | $9,222 | ||
Total Cash and cash equivalents | 20,021 | 18,954 | ||
Total Restricted Cash and Marketable Securities | 2,076 | 2,273 | ||
Equity investment in Peugeot S.A. [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-Sale Ownership Percent in investment in Peugeot S. A. (PSA) | 7.00% | |||
Proceeds from Sale of investment in Peugeot S. A. (PSA) Common Stock | 339 | |||
Equity investment in Peugeot S.A. [Member] | Interest income and other non-operating income (loss), net [Member] | ||||
Marketable Securities [Line Items] | ||||
Gain on Sale of Investments | 152 | |||
Other than Temporary Impairment Charge on Investment in PSA Common Stock | 220 | |||
Cash And Cash Equivalents Line Item [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 10,812 | 10,890 | ||
Available-for-sale Securities, Fair Value Disclosure | 10,812 | 10,890 | ||
Trading Securities, Fair Value | 25 | 431 | ||
Total Marketable securities | 10,837 | 11,321 | ||
Cash, Cash Equivalents And Time Deposits | 9,184 | 7,633 | ||
Cash And Cash Equivalents Line Item [Member] | Money Market Funds [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 1,262 | 2,480 | ||
Cash And Cash Equivalents Line Item [Member] | Money Market Funds [Member] | Level 1 [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Fair Value Disclosure | 1,262 | 2,480 | ||
Cash And Cash Equivalents Line Item [Member] | US Treasury and Government [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 1,437 | 1,600 | ||
Cash And Cash Equivalents Line Item [Member] | US Treasury and Government [Member] | Level 2 [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Fair Value Disclosure | 1,437 | 1,600 | ||
Cash And Cash Equivalents Line Item [Member] | Sovereign Debt | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 515 | 774 | ||
Cash And Cash Equivalents Line Item [Member] | Sovereign Debt | Level 2 [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Fair Value Disclosure | 515 | 774 | ||
Trading Securities, Fair Value | 0 | 431 | ||
Cash And Cash Equivalents Line Item [Member] | Corporate Debt | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 7,598 | 6,036 | ||
Cash And Cash Equivalents Line Item [Member] | Corporate Debt | Level 2 [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Fair Value Disclosure | 7,598 | 6,036 | ||
Trading Securities, Fair Value | 25 | 0 | ||
Marketable Securities [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 7,232 | 7,957 | ||
Available-for-sale Securities, Fair Value Disclosure | 7,235 | 7,955 | ||
Marketable Securities [Member] | US Treasury and Government [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 5,343 | 5,957 | ||
Marketable Securities [Member] | US Treasury and Government [Member] | Level 2 [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Fair Value Disclosure | 5,344 | 5,957 | ||
Marketable Securities [Member] | Sovereign Debt | Level 2 [Member] | ||||
Marketable Securities [Line Items] | ||||
Trading Securities, Fair Value | 1,737 | 1,267 | ||
Marketable Securities [Member] | Corporate Debt | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 1,889 | 2,000 | ||
Marketable Securities [Member] | Corporate Debt | Level 2 [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Fair Value Disclosure | 1,891 | 1,998 | ||
Restricted cash and marketable securities [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 931 | 1,426 | ||
Available-for-sale Securities, Fair Value Disclosure | 932 | 1,427 | ||
Restricted cash and cash equivalents and time deposits | 1,144 | 846 | ||
Restricted cash and marketable securities [Member] | Money Market Funds [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 897 | 1,381 | ||
Restricted cash and marketable securities [Member] | Money Market Funds [Member] | Level 1 [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Fair Value Disclosure | 897 | 1,381 | ||
Restricted cash and marketable securities [Member] | Other | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Amortized Cost | 34 | 45 | ||
Restricted cash and marketable securities [Member] | Other | Level 2 [Member] | ||||
Marketable Securities [Line Items] | ||||
Available-for-sale Securities, Fair Value Disclosure | $35 | $46 |
Marketable_Securities_Contract
Marketable Securities Contractual Maturity Table (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Proceeds from Sale and Maturity of Marketable Securities [Abstract] | |||
Available-for-sale securities, sale proceeds | $5,900,000,000 | $4,700,000,000 | $4,700,000,000 |
Available-for-Sale Securities Classified by Contractual Maturity, Amortized Cost | |||
Due in one year or less, amortized cost | 14,461,000,000 | ||
Due after one year through five years, amortized cost | 1,951,000,000 | ||
Total contractual maturities of available-for-sale securities, amortized cost | 16,412,000,000 | ||
Available-for-Sale Securities Classified by Contractual Maturity, Fair Value [Abstract] | |||
Due in one year or less, fair value | 14,461,000,000 | ||
Due after one year through five years, fair value | 1,950,000,000 | ||
Total available-for-sale securities with contractual maturities, fair value | $16,411,000,000 |
GM_Financial_Receivables_net_S
GM Financial Receivables, net Summary of Finance Receivables, Net (Details) (GM Financial [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2011 |
In Millions, unless otherwise specified | ||||
Finance Receivables [Line Items] | ||||
Pre-acquisition finance receivables, outstanding amount | $508 | $1,294 | ||
Pre-acquisition finance receivables, carrying amount | 459 | 1,174 | ||
Post-acquisition finance receivables, net of fees | 32,770 | 28,006 | ||
Total Finance Receivables | 33,229 | 29,180 | ||
Less: Allowance for Loan Losses | -695 | -548 | -351 | -179 |
Total Finance Receivables, net | 32,534 | 28,632 | ||
Finance Receivables, Fair Value | 33,106 | 28,668 | ||
Allowance for Loan Losses - Current | 529 | 427 | ||
Consumer Finance Receivable [Member] | ||||
Finance Receivables [Line Items] | ||||
Pre-acquisition finance receivables, outstanding amount | 508 | 1,294 | ||
Pre-acquisition finance receivables, carrying amount | 459 | 1,174 | ||
Post-acquisition finance receivables, net of fees | 25,164 | 21,956 | ||
Total Finance Receivables | 25,623 | 23,130 | ||
Less: Allowance for Loan Losses | -655 | -497 | ||
Total Finance Receivables, net | 24,968 | 22,633 | ||
Commercial Finance Receivables [Member] | ||||
Finance Receivables [Line Items] | ||||
Pre-acquisition finance receivables, outstanding amount | 0 | 0 | ||
Pre-acquisition finance receivables, carrying amount | 0 | 0 | ||
Post-acquisition finance receivables, net of fees | 7,606 | 6,050 | ||
Total Finance Receivables | 7,606 | 6,050 | ||
Less: Allowance for Loan Losses | -40 | -51 | ||
Total Finance Receivables, net | $7,566 | $5,999 |
GM_Financial_Receivables_net_A
GM Financial Receivables, net Allowance for Loan Losses (Details) (GM Financial [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
GM Financial [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Balance at beginning of period | $548 | $351 | $179 |
Provision for Loan Losses | 604 | 475 | 304 |
Charge-offs | -914 | -643 | -304 |
Recoveries | 470 | 362 | 172 |
Effect of foreign currency | -13 | 3 | 0 |
Balance at end of period | $695 | $548 | $351 |
GM_Financial_Receivables_net_C
GM Financial Receivables, net Consumer Finance Receivables Delinquencies and TDRs (Details) (GM Financial [Member], Consumer Finance Receivable [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
GM Financial [Member] | Consumer Finance Receivable [Member] | ||
Delinquent Contracts [Abstract] | ||
31 to 60 Days Past Due | $1,083 | $952 |
Greater than 60 Days Past Due | 432 | 408 |
Total Finance Receivables More Than 30 Days Delinquent | 1,515 | 1,360 |
In Repossession | 40 | 41 |
Total Finance Receivables More Than 30 Days Delinquent or in Repossession | 1,555 | 1,401 |
31 To 60 Days Past Due, Percent Of Contractual Amount Due | 4.20% | 4.10% |
Greater than 60 Days Past Due, Percent of Contractual Amount Due | 1.70% | 1.70% |
Total Finance Receivables More than 30 Days Past Due, Percent of Contractual Amount Due | 5.90% | 5.80% |
In Repossession, Percent of Contractual Amount Due | 0.20% | 0.20% |
Total Finance Receivables More Than 30 Days Delinquent or in Repossession, Percent of Contractual Amount Due | 6.10% | 6.00% |
Outstanding recorded investment | 1,234 | 767 |
Less: allowance for loan losses | -172 | -103 |
Outstanding recorded investment, net of allowance | 1,062 | 664 |
Unpaid principal balance | $1,255 | $779 |
GM_Financial_Receivables_net_C1
GM Financial Receivables, net Credit Quality Indicators (Details) (GM Financial [Member], USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Gross | $33,229 | $29,180 |
Consumer Finance Receivable [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Consumer finance receivables, nonaccrual status | 682 | 642 |
Financing Receivable, Gross | 25,623 | 23,130 |
Consumer Finance Receivable [Member] | North America [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
FICO Score to Differentiate Sub-Prime from Prime Loans | 620 | 620 |
Percentage of Sub-Prime Loans | 83.00% | 88.00% |
Commercial Finance Receivables [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Gross | 7,606 | 6,050 |
Commercial Finance Receivables [Member] | Group I Dealers [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Gross | 1,050 | 549 |
Commercial Finance Receivables [Member] | Group II Dealers [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Gross | 2,022 | 1,460 |
Commercial Finance Receivables [Member] | Group III Dealers [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Gross | 2,599 | 1,982 |
Commercial Finance Receivables [Member] | Group IV Dealers [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Gross | 1,173 | 1,462 |
Commercial Finance Receivables [Member] | Group V Dealers [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Gross | 524 | 385 |
Commercial Finance Receivables [Member] | Group VI Dealers [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Financing Receivable, Gross | $238 | $212 |
Inventories_Details
Inventories (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Inventory Disclosure [Abstract] | ||
Productive material, supplies and work in process | $5,380 | $5,872 |
Finished product, including service parts | 8,262 | 8,167 |
Total inventories | $13,642 | $14,039 |
Equipment_on_Operating_Leases_2
Equipment on Operating Leases, net (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Property Subject to or Available for Operating Lease [Line Items] | |||
Equipment on operating leases, net | $3,564 | $2,398 | |
GM Financial [Member] | |||
Property Subject to or Available for Operating Lease [Line Items] | |||
GM Financial equipment on operating leases, net | 7,060 | 3,383 | |
Vehicles [Member] | Automotive [Member] | |||
Property Subject to or Available for Operating Lease [Line Items] | |||
Equipment on operating leases | 3,822 | 2,605 | |
Less: accumulated depreciation | -258 | -207 | |
Equipment on operating leases, net | 3,564 | 2,398 | |
Depreciation expense | 507 | 218 | 227 |
Impairment Charges | 155 | 168 | 181 |
Vehicles [Member] | GM Financial [Member] | |||
Property Subject to or Available for Operating Lease [Line Items] | |||
Depreciation expense | 868 | 450 | 205 |
GM Financial equipment on operating leases | 8,268 | 4,025 | |
Less: accumulated depreciation | -1,208 | -642 | |
GM Financial equipment on operating leases, net | 7,060 | 3,383 | |
Minimum rental receipts under operating leases [Abstract] | |||
2015 | 1,241 | ||
2016 | 1,019 | ||
2017 | 597 | ||
2018 | 98 | ||
2019 | $5 |
Equity_In_Net_Assets_Of_Noncon2
Equity In Net Assets Of Nonconsolidated Affiliates Equity in Net Assets of Nonconsolidated Affiliates (Details) (USD $) | 12 Months Ended | |||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jan. 02, 2015 | |
Schedule of Equity Method Investments [Line Items] | ||||
Equity income (loss) | $2,094,000,000 | $1,810,000,000 | $1,562,000,000 | |
Dividends Received | 1,800,000,000 | 1,700,000,000 | 1,400,000,000 | |
Undistributed Earnings Including Dividends Declared | 2,000,000,000 | 1,800,000,000 | ||
Equity Method Investments | 8,350,000,000 | 8,094,000,000 | 6,883,000,000 | |
Equity Method Investment, Difference Between Carrying Amount and Underlying Equity | 3,900,000,000 | 3,800,000,000 | ||
China JVs [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity income (loss) | 2,066,000,000 | 1,763,000,000 | 1,521,000,000 | |
Equity Method Investments | 8,140,000,000 | 7,851,000,000 | ||
SGM [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% | ||
SGM Norsom [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 25.00% | 25.00% | ||
SGM DY [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 25.00% | 25.00% | ||
SGM DYPT [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 25.00% | 25.00% | ||
SGMW [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 44.00% | 44.00% | ||
FAW-GM [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% | ||
PATAC [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 50.00% | 50.00% | ||
Shanghai Onstar [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 40.00% | 40.00% | ||
Shanghai Chengxin [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 33.00% | 33.00% | ||
SGMS [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 49.00% | 49.00% | ||
Other Nonconsolidated Affiliates [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity income (loss) | 28,000,000 | 47,000,000 | 41,000,000 | |
Equity Method Investments | $210,000,000 | $243,000,000 | ||
SGM [Member] | SGM Norsom [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 50.00% | |||
SGM [Member] | SGM DY [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 50.00% | |||
SGM [Member] | SGM DYPT [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 50.00% | |||
SGM [Member] | Shanghai Onstar [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 20.00% | |||
SGM [Member] | Shanghai Chengxin [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 33.00% | |||
SGM [Member] | SAIC-GMAC [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 20.00% | |||
SAIC [Member] | SGM [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 50.00% | |||
SAIC [Member] | SGM Norsom [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 25.00% | |||
SAIC [Member] | SGM DY [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 25.00% | |||
SAIC [Member] | SGM DYPT [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 25.00% | |||
SAIC [Member] | SGMS [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 51.00% | |||
Ally Financial [Member] | SAIC-GMAC [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 40.00% | |||
SAICFC [Member] | SAIC-GMAC [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 40.00% | |||
Subsequent Event [Member] | SAICFC [Member] | SAIC-GMAC [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 45.00% | |||
Subsequent Event [Member] | GM Financial [Member] | SAIC-GMAC [Member] | ||||
Schedule of Equity Method Investments [Line Items] | ||||
Equity Method Investment, Ownership Percentage | 35.00% |
Equity_In_Net_Assets_Of_Noncon3
Equity In Net Assets Of Nonconsolidated Affiliates Summarized Financial Data of NCAs (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Schedule of Equity Method Investments [Line Items] | |||
Current Assets | $18,078 | $16,900 | |
Noncurrent Assets | 11,265 | 9,645 | |
Total Assets | 29,343 | 26,545 | |
Current Liabilities | 18,320 | 15,878 | |
Noncurrent Liabilities | 1,426 | 1,576 | |
Total Liabilities | 19,746 | 17,454 | |
Non-controlling Interests | 1,046 | 1,040 | |
Net Sales | 47,024 | 40,597 | 37,327 |
Net Income (Loss) | 4,403 | 3,735 | 3,175 |
China JVs [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Current Assets | 15,442 | 14,666 | |
Noncurrent Assets | 9,758 | 8,187 | |
Total Assets | 25,200 | 22,853 | |
Current Liabilities | 16,141 | 14,019 | |
Noncurrent Liabilities | 931 | 1,065 | |
Total Liabilities | 17,072 | 15,084 | |
Non-controlling Interests | 1,043 | 1,040 | |
Net Sales | 43,853 | 38,767 | 33,364 |
Net Income (Loss) | 4,312 | 3,685 | 3,198 |
Other Nonconsolidated Affiliates [Member] | |||
Schedule of Equity Method Investments [Line Items] | |||
Current Assets | 2,636 | 2,234 | |
Noncurrent Assets | 1,507 | 1,458 | |
Total Assets | 4,143 | 3,692 | |
Current Liabilities | 2,179 | 1,859 | |
Noncurrent Liabilities | 495 | 511 | |
Total Liabilities | 2,674 | 2,370 | |
Non-controlling Interests | 3 | 0 | |
Net Sales | 3,171 | 1,830 | 3,963 |
Net Income (Loss) | $91 | $50 | ($23) |
Equity_In_Net_Assets_Of_Noncon4
Equity In Net Assets Of Nonconsolidated Affiliates Transactions with NCAs (Details) (Nonconsolidated Affiliates [Member], USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Nonconsolidated Affiliates [Member] | |||
Related Party Transactions [Line Items] | |||
Automotive sales and revenue | $2,762 | $2,724 | $2,572 |
Automotive purchases, net | 311 | 724 | 497 |
Interest income and other non-operating income | 23 | 19 | 184 |
Operating cash flows | 4,321 | 3,607 | 3,385 |
Accounts and notes receivable, net | 706 | 756 | |
Accounts payable | $205 | $183 |
Property_net_Details
Property, net (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | |
Property, Plant and Equipment, Net, by Type [Abstract] | ||||
Property, net | $27,743,000,000 | $25,867,000,000 | ||
Capitalized Interest and Software [Abstract] | ||||
Capitalized Software, Net | 817,000,000 | 630,000,000 | ||
Depreciation, Amortization and Impairment [Abstract] | ||||
Impairment of Intangible Assets, Finite-lived | 16,000,000 | 523,000,000 | 1,755,000,000 | |
GMIO [Member] | Level 3 [Member] | ||||
Depreciation, Amortization and Impairment [Abstract] | ||||
Property, Plant and Equipment Impaired Assets, FairValue | 85,000,000 | |||
GMIO [Member] | Holden Manufacturing Operations [Member] | Level 3 [Member] | ||||
Depreciation, Amortization and Impairment [Abstract] | ||||
Property, Plant and Equipment Impaired Assets, FairValue | 71,000,000 | |||
GMIO [Member] | GM India [Member] | ||||
Depreciation, Amortization and Impairment [Abstract] | ||||
Goodwill and Intangible Asset Impairment | 103,000,000 | |||
Asset Impairment Charges | 383,000,000 | |||
Percentage Ownership in GM India | 90.80% | |||
GMIO [Member] | GM India [Member] | Level 3 [Member] | ||||
Depreciation, Amortization and Impairment [Abstract] | ||||
Property, Plant, and Equipment, Fair Value Disclosure | 45,000,000 | |||
GMIO [Member] | GM India [Member] | Noncontrolling Interests [Member] | ||||
Depreciation, Amortization and Impairment [Abstract] | ||||
Asset Impairment Charges | 35,000,000 | |||
GME [Member] | ||||
Depreciation, Amortization and Impairment [Abstract] | ||||
Asset Impairment Charges | 5,500,000,000 | |||
Impairment of Intangible Assets, Finite-lived | 1,800,000,000 | |||
GME [Member] | Level 3 [Member] | ||||
Depreciation, Amortization and Impairment [Abstract] | ||||
Property, Plant and Equipment Impaired Assets, FairValue | 11,000,000 | 400,000,000 | 400,000,000 | |
Segments other than GME and GMIO [Member] | Level 3 [Member] | ||||
Depreciation, Amortization and Impairment [Abstract] | ||||
Property, Plant and Equipment Impaired Assets, FairValue | 0 | 0 | 0 | 0 |
Property, Plant and Equipment [Member] | ||||
Capitalized Interest and Software [Abstract] | ||||
Capitalized Interest | 70,000,000 | 81,000,000 | 117,000,000 | |
Depreciation, Amortization and Impairment [Abstract] | ||||
Depreciation and amortization expense | 4,187,000,000 | 3,959,000,000 | 3,888,000,000 | |
Impairment Charges | 709,000,000 | 901,000,000 | 3,793,000,000 | |
Depreciation, Impairment Charges and Amortization Expense | 4,896,000,000 | 4,860,000,000 | 7,681,000,000 | |
Capitalized Software Amortization Expense | 295,000,000 | 244,000,000 | 209,000,000 | |
Property, Plant and Equipment [Member] | GMIO [Member] | ||||
Depreciation, Amortization and Impairment [Abstract] | ||||
Impairment Charges | 321,000,000 | |||
Property, Plant and Equipment [Member] | GMIO [Member] | Automotive Cost of Sales [Member] | Holden Manufacturing Operations [Member] | ||||
Depreciation, Amortization and Impairment [Abstract] | ||||
Impairment Charges | 477,000,000 | |||
Property, Plant and Equipment [Member] | GMIO [Member] | GM India [Member] | Automotive Cost of Sales [Member] | ||||
Depreciation, Amortization and Impairment [Abstract] | ||||
Impairment Charges | 280,000,000 | |||
Property, Plant and Equipment [Member] | GME [Member] | ||||
Depreciation, Amortization and Impairment [Abstract] | ||||
Impairment Charges | 179,000,000 | |||
Property, Plant and Equipment [Member] | GME [Member] | Automotive Cost of Sales [Member] | ||||
Depreciation, Amortization and Impairment [Abstract] | ||||
Impairment Charges | 3,700,000,000 | |||
Land [Member] | ||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||
Real Estate, Plants and Equipment | 1,695,000,000 | 1,868,000,000 | ||
Buildings and Improvements [Member] | ||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||
Real Estate, Plants and Equipment | 5,236,000,000 | 4,971,000,000 | ||
Machinery and Equipment [Member] | ||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||
Real Estate, Plants and Equipment | 16,788,000,000 | 15,222,000,000 | ||
Construction in Progress [Member] | ||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||
Real Estate, Plants and Equipment | 4,114,000,000 | 2,644,000,000 | ||
Real estate, plants and equipment [Member] | ||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||
Real Estate, Plants and Equipment | 27,833,000,000 | 24,705,000,000 | ||
Less Accumulated Depreciation | -8,067,000,000 | -6,787,000,000 | ||
Property, net | 19,766,000,000 | 17,918,000,000 | ||
Special Tools, Net [Member] | ||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||
Property, net | $7,977,000,000 | $7,949,000,000 | ||
Minimum [Member] | Personal Property [Member] | GMIO [Member] | GM India [Member] | Level 3 [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Economic Obsolescence | 72.00% | |||
Minimum [Member] | Personal Property [Member] | GME [Member] | Level 3 [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Economic Obsolescence | 17.00% | |||
Physical Deterioration | 52.00% | |||
Functional Obsolescence | 8.00% | |||
Minimum [Member] | Land, Buildings and Improvements [Member] | GMIO [Member] | Holden Manufacturing Operations [Member] | Level 3 [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Holding Period | 0 years | |||
Discount Rate | 11.00% | |||
Minimum [Member] | Land, Buildings and Improvements [Member] | GME [Member] | Level 3 [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Holding Period | 0 years | |||
Discount Rate | 11.20% | |||
Demolition Costs | 6.00% | |||
Minimum [Member] | Buildings and Improvements [Member] | ||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||
Estimated Useful Life in Years | 5 years | |||
Minimum [Member] | Machinery and Equipment [Member] | ||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||
Estimated Useful Life in Years | 3 years | |||
Minimum [Member] | Special Tools, Net [Member] | ||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||
Estimated Useful Life in Years | 1 year | |||
Maximum [Member] | Personal Property [Member] | GMIO [Member] | GM India [Member] | Level 3 [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Economic Obsolescence | 100.00% | |||
Maximum [Member] | Personal Property [Member] | GME [Member] | Level 3 [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Economic Obsolescence | 23.00% | |||
Physical Deterioration | 69.00% | |||
Functional Obsolescence | 28.00% | |||
Maximum [Member] | Land, Buildings and Improvements [Member] | GMIO [Member] | Holden Manufacturing Operations [Member] | Level 3 [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Holding Period | 3 years | |||
Discount Rate | 12.00% | |||
Maximum [Member] | Land, Buildings and Improvements [Member] | GME [Member] | Level 3 [Member] | ||||
Fair Value Inputs [Abstract] | ||||
Holding Period | 4 years | |||
Discount Rate | 14.50% | |||
Demolition Costs | 23.00% | |||
Maximum [Member] | Buildings and Improvements [Member] | ||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||
Estimated Useful Life in Years | 40 years | |||
Maximum [Member] | Machinery and Equipment [Member] | ||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||
Estimated Useful Life in Years | 27 years | |||
Maximum [Member] | Special Tools, Net [Member] | ||||
Property, Plant and Equipment, Net, by Type [Abstract] | ||||
Estimated Useful Life in Years | 15 years |
Goodwill_Details
Goodwill (Details) (USD $) | 12 Months Ended | 3 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 |
Goodwill [Roll Forward] | |||||
Goodwill | $1,560 | $1,973 | |||
Impairment charges | -120 | -541 | -27,145 | ||
Goodwill from business combinations | 154 | ||||
Effect of foreign currency and other | -13 | -26 | |||
Goodwill | 1,427 | 1,560 | 1,973 | 1,973 | 1,560 |
Accumulated impairment charges | -30,558 | -30,438 | -29,897 | -29,897 | -30,438 |
Reversal of Valuation Allowance | -36,364 | ||||
Automotive [Member] | |||||
Goodwill [Roll Forward] | |||||
Goodwill | 138 | 695 | |||
Impairment charges | -120 | -541 | |||
Goodwill from business combinations | 10 | ||||
Effect of foreign currency and other | -18 | -26 | |||
Goodwill | 0 | 138 | 138 | ||
Accumulated impairment charges | -30,558 | -30,438 | -29,897 | -29,897 | -30,438 |
GM Financial [Member] | |||||
Goodwill [Roll Forward] | |||||
Goodwill | 1,422 | 1,278 | |||
Impairment charges | 0 | 0 | |||
Goodwill from business combinations | 144 | ||||
Effect of foreign currency and other | 5 | 0 | |||
Goodwill | 1,427 | 1,422 | 1,422 | ||
Accumulated impairment charges | 0 | 0 | 0 | 0 | 0 |
GMSA [Member] | Automotive [Member] | |||||
Goodwill [Roll Forward] | |||||
Impairment charges | -120 | ||||
Goodwill | 0 | ||||
GMNA [Member] | Automotive [Member] | |||||
Goodwill [Roll Forward] | |||||
Impairment charges | -26,400 | ||||
Reversal of Valuation Allowance | 36,200 | ||||
GME [Member] | Automotive [Member] | |||||
Goodwill [Roll Forward] | |||||
Impairment charges | -590 | ||||
GMIO [Member] | |||||
Goodwill [Roll Forward] | |||||
Impairment charges | -481 | ||||
GMIO [Member] | Automotive [Member] | |||||
Goodwill [Roll Forward] | |||||
Impairment charges | -541 | -156 | |||
Goodwill | $0 | $0 |
Intangible_Assets_net_Details
Intangible Assets, net (Details) (USD $) | 12 Months Ended | 3 Months Ended | 1 Months Ended | 3 Months Ended | ||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | 31-May-13 | Mar. 31, 2013 | Dec. 31, 2013 | |
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Intangible Assets, Gross Carrying Amount | $14,079,000,000 | $14,129,000,000 | $14,129,000,000 | $14,129,000,000 | ||||
Intangible Assets, Accumulated Amortization | 9,192,000,000 | 8,557,000,000 | 8,557,000,000 | 8,557,000,000 | ||||
Intangible Assets, Net Carrying Amount | 4,887,000,000 | 5,572,000,000 | 5,572,000,000 | 5,572,000,000 | ||||
Nonamortizing in process research and development | 96,000,000 | 96,000,000 | 96,000,000 | 96,000,000 | ||||
Total Intangible Assets, Gross Carrying Amount | 14,175,000,000 | 14,225,000,000 | 14,225,000,000 | 14,225,000,000 | ||||
Intangible Assets, Net | 4,983,000,000 | 5,668,000,000 | 5,668,000,000 | 5,668,000,000 | ||||
Amortization Expense | 676,000,000 | 1,281,000,000 | 1,568,000,000 | |||||
Impairment of Intangible Assets, Finite-lived | 16,000,000 | 523,000,000 | 1,755,000,000 | |||||
Estimated Amortization Expense, 2015 | 332,000,000 | |||||||
Estimated Amortization Expense, 2016 | 311,000,000 | |||||||
Estimated Amortization Expense, 2017 | 306,000,000 | |||||||
Estimated Amortization Expense, 2018 | 302,000,000 | |||||||
Estimated Amortization Expense, 2019 | 205,000,000 | |||||||
GME [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Impairment of Intangible Assets, Finite-lived | 1,800,000,000 | |||||||
GME [Member] | Level 3 [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Finite-lived Intangible Assets, Fair Value | 139,000,000 | 139,000,000 | ||||||
Technology and Intellectual Property [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Intangible Assets, Gross Carrying Amount | 8,193,000,000 | 8,210,000,000 | 8,210,000,000 | 8,210,000,000 | ||||
Intangible Assets, Accumulated Amortization | 7,744,000,000 | 7,308,000,000 | 7,308,000,000 | 7,308,000,000 | ||||
Intangible Assets, Net Carrying Amount | 449,000,000 | 902,000,000 | 902,000,000 | 902,000,000 | ||||
Technology and Intellectual Property [Member] | Product development agreement with Peugeot S.A. [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Purchase Obligation | 480,000,000 | 480,000,000 | 642,000,000 | 480,000,000 | ||||
Payments to Acquire Intangible Assets | 201,000,000 | |||||||
Finite-lived Intangible Assets Acquired | 594,000,000 | |||||||
Impairment of Intangible Assets, Finite-lived | 211,000,000 | |||||||
Technology and Intellectual Property [Member] | Product development agreement with Peugeot S.A. [Member] | GMNA [Member] | Automotive Cost of Sales [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Loss on Contracts | 49,000,000 | |||||||
Brands [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Intangible Assets, Gross Carrying Amount | 4,447,000,000 | 4,466,000,000 | 4,466,000,000 | 4,466,000,000 | ||||
Intangible Assets, Accumulated Amortization | 683,000,000 | 559,000,000 | 559,000,000 | 559,000,000 | ||||
Intangible Assets, Net Carrying Amount | 3,764,000,000 | 3,907,000,000 | 3,907,000,000 | 3,907,000,000 | ||||
Brands [Member] | GME [Member] | Level 3 [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Long-term growth rate | 0.50% | |||||||
Pre-tax royalty rate | 0.14% | |||||||
Discount rate | 21.25% | |||||||
Dealer Network and Customer Relationships [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Intangible Assets, Gross Carrying Amount | 1,094,000,000 | 1,108,000,000 | 1,108,000,000 | 1,108,000,000 | ||||
Intangible Assets, Accumulated Amortization | 434,000,000 | 364,000,000 | 364,000,000 | 364,000,000 | ||||
Intangible Assets, Net Carrying Amount | 660,000,000 | 744,000,000 | 744,000,000 | 744,000,000 | ||||
Dealer Network and Customer Relationships [Member] | GMIO [Member] | Level 3 [Member] | Withdrawal of the Chevrolet Brand from Europe [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Finite-lived Intangible Assets, Fair Value | 0 | 0 | 0 | |||||
Dealer Network and Customer Relationships [Member] | GMIO [Member] | Automotive Cost of Sales [Member] | Withdrawal of the Chevrolet Brand from Europe [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Impairment of Intangible Assets, Finite-lived | 264,000,000 | |||||||
Dealer Network and Customer Relationships [Member] | GME [Member] | Level 3 [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Finite-lived Intangible Assets, Fair Value | 0 | 0 | ||||||
Favorable Contracts and Other [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Intangible Assets, Gross Carrying Amount | 345,000,000 | 345,000,000 | 345,000,000 | 345,000,000 | ||||
Intangible Assets, Accumulated Amortization | 331,000,000 | 326,000,000 | 326,000,000 | 326,000,000 | ||||
Intangible Assets, Net Carrying Amount | 14,000,000 | 19,000,000 | 19,000,000 | 19,000,000 | ||||
Favorable Contracts and Other [Member] | GMIO [Member] | GM India [Member] | Level 3 [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Finite-lived Intangible Assets, Fair Value | 0 | 0 | 0 | |||||
Favorable Contracts and Other [Member] | GMIO [Member] | GM India [Member] | Automotive Cost of Sales [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Impairment of Intangible Assets, Finite-lived | 48,000,000 | |||||||
Customer Relationships and Trade Name [Member] | GME [Member] | Automotive Selling, General and Administrative Expense [Member] | ||||||||
Schedule of Finite and Indefinite-Lived Intangible Assets [Line Items] | ||||||||
Impairment of Intangible Assets, Finite-lived | $1,800,000,000 |
Variable_Interest_Entities_Det
Variable Interest Entities (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Consolidated [Abstract] | ||
Maximum Maturity Days for Highly Liquid Securities | 90 days | |
GM Financial [Member] | Consolidated VIE [Member] | ||
Consolidated [Abstract] | ||
Restricted Cash | $1,721 | $1,523 |
Securitized Assets | 27,704 | 23,584 |
Securitization Notes Payable and Other Credit Facilities | $22,794 | $19,448 |
Maximum Maturity Days for Highly Liquid Securities | 90 days |
Accrued_Liabilities_and_Other_2
Accrued Liabilities and Other Liabilities Accrued Liabilities and Other Liabilities (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Accrued Liabilities and Other Liabilities, Current | ||
Dealer and customer allowances, claims and discounts | $8,035 | $7,919 |
Deposits primarily from rental car companies | 6,089 | 4,713 |
Deferred revenue | 1,622 | 1,276 |
Product warranty and related liabilities | 3,582 | 2,721 |
Payrolls and employee benefits excluding postemployment benefits | 2,144 | 2,285 |
Other | 6,712 | 5,719 |
Total accrued liabilities | 28,184 | 24,633 |
Accrued Liabilities and Other Liabilities, Noncurrent [Abstract] | ||
Deferred revenue | 1,556 | 1,249 |
Product warranty and related liabilities | 6,064 | 4,880 |
Employee benefits excluding postemployment benefits | 1,049 | 1,192 |
Postemployment benefits including facility idling reserves | 1,259 | 1,216 |
Other | 4,154 | 4,816 |
Total other liabilities | $14,082 | $13,353 |
Accrued_Liabilities_and_Other_3
Accrued Liabilities and Other Liabilities Summary of Activity for Product Warranty and Related Liabilities (Details) (USD $) | 12 Months Ended | 3 Months Ended | 6 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2014 |
Product Warranty and Related Liabilities [Roll Forward] | ||||||
Beginning balance | $7,601 | $7,633 | $7,031 | $7,601 | ||
Warranties issued and assumed in period - recall campaigns and courtesy transportation | 2,910 | 640 | 775 | |||
Warranties issued and assumed in period - policy and warranty | 2,540 | 2,757 | 2,840 | |||
Payments | -4,326 | -3,240 | -3,575 | |||
Adjustments to pre-existing warranties | 1,187 | 49 | 504 | |||
Effect of foreign currency and other | -266 | -238 | 58 | |||
Ending balance | 9,646 | 7,601 | 7,633 | 9,646 | ||
Statement [Line Items] | ||||||
Vehicles recalled | 42,000,000 | |||||
Recalls - Ignition Switch [Member] | ||||||
Statement [Line Items] | ||||||
Recall Charges | 680 | |||||
Vehicles recalled | 2,600,000 | |||||
Recall Cost Adjustment - Courtesy Transportation | -95 | |||||
Recall Cost Adjustment - Repair Efficiency | -80 | |||||
Recalls - Steering [Member] | ||||||
Statement [Line Items] | ||||||
Recall Charges | 340 | |||||
Vehicles recalled | 1,900,000 | |||||
Recalls - Side Impact Restraints Non-Deployment [Member] | ||||||
Statement [Line Items] | ||||||
Recall Charges | 185 | |||||
Vehicles recalled | 1,300,000 | |||||
Recalls - Break Lamp Wiring Harness [Member] | ||||||
Statement [Line Items] | ||||||
Recall Charges | 90 | |||||
Vehicles recalled | 2,700,000 | |||||
Recalls - Safety Belt Cable Fatigue [Member] | ||||||
Statement [Line Items] | ||||||
Recall Charges | 80 | |||||
Vehicles recalled | 1,500,000 | |||||
Recalls - Shift Cable Wear Out [Member] | ||||||
Statement [Line Items] | ||||||
Recall Charges | 150 | |||||
Vehicles recalled | 1,400,000 | |||||
Recalls - Ignition Keys [Member] | ||||||
Statement [Line Items] | ||||||
Recall Charges | 325 | |||||
Vehicles recalled | 12,100,000 | |||||
Recalls - Other matters [Member] | ||||||
Statement [Line Items] | ||||||
Recall Charges | 520 | |||||
Vehicles recalled | 5,200,000 | |||||
GMNA [Member] | ||||||
Statement [Line Items] | ||||||
Percentage of Recall Cost Recorded | 86.00% | |||||
Recall Charges | 1,100 | 1,300 | ||||
Vehicles recalled | 8,100,000 | |||||
Number of Recalls | 23 | |||||
GMNA [Member] | Warranty Obligations [Member] | ||||||
Statement [Line Items] | ||||||
Recall campaigns catch-up adjustment | $874 | 200 |
ShortTerm_and_LongTerm_Debt_Ca
Short-Term and Long-Term Debt Carrying Amount and Fair Value (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Automotive [Member] | ||
Debt Instrument [Line Items] | ||
Carrying Amount | $9,410,000,000 | $7,137,000,000 |
Fair Value | 9,799,000,000 | 6,837,000,000 |
Available under credit facility agreements | 12,026,000,000 | 10,404,000,000 |
Weighted Average Interest Rate on Outstanding Short-term Debt | 6.40% | 9.00% |
Weighted Average Interest Rate on Outstanding Long-term Debt | 4.30% | 3.80% |
Unamortized Discount (Premium), Net | 681,000,000 | 765,000,000 |
Automotive [Member] | Level 1 [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value | 7,600,000,000 | |
Automotive [Member] | Level 2 [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value | 2,200,000,000 | 6,800,000,000 |
Automotive [Member] | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Carrying Amount | 237,000,000 | 320,000,000 |
Automotive [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Carrying Amount | 8,205,000,000 | 5,852,000,000 |
GM Financial [Member] | ||
Debt Instrument [Line Items] | ||
Carrying Amount | 37,431,000,000 | 29,046,000,000 |
Fair Value | 37,707,000,000 | 29,248,000,000 |
GM Financial [Member] | Level 2 [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value | 32,800,000,000 | 23,000,000,000 |
GM Financial [Member] | Level 3 [Member] | ||
Debt Instrument [Line Items] | ||
Fair Value | 4,900,000,000 | 6,200,000,000 |
GM Financial [Member] | Secured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Carrying Amount | 25,214,000,000 | 22,073,000,000 |
Fair Value | 25,228,000,000 | 22,170,000,000 |
GM Financial [Member] | Unsecured Debt [Member] | ||
Debt Instrument [Line Items] | ||
Carrying Amount | 12,217,000,000 | 6,973,000,000 |
Fair Value | 12,479,000,000 | 7,078,000,000 |
Capital Lease Obligations [Member] | Automotive [Member] | ||
Debt Instrument [Line Items] | ||
Carrying Amount | 968,000,000 | 965,000,000 |
Capital Lease Obligations [Member] | GM Financial [Member] | ||
Debt Instrument [Line Items] | ||
Carrying Amount | $0 | |
Minimum [Member] | Automotive [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate, Stated Percentage | 0.00% | 0.00% |
Maximum [Member] | Automotive [Member] | ||
Debt Instrument [Line Items] | ||
Interest Rate, Stated Percentage | 18.00% | 19.00% |
ShortTerm_and_LongTerm_Debt_Se
Short-Term and Long-Term Debt Secured Debt (Details) (GM Financial [Member], Secured Debt [Member], USD $) | 12 Months Ended |
In Billions, unless otherwise specified | Dec. 31, 2014 |
Minimum [Member] | |
Line of Credit Facility [Line Items] | |
Debt, Weighted Average Interest Rate | 0.35% |
Maximum [Member] | |
Line of Credit Facility [Line Items] | |
Debt, Weighted Average Interest Rate | 13.43% |
Securitization notes payable [Member] | |
Line of Credit Facility [Line Items] | |
Debt Instrument, Maturity Date Range, Start | 31-Dec-16 |
Debt Instrument, Maturity Date Range, End | 31-Dec-22 |
Securitization Notes Payable Issued in Period | $10.70 |
Weighted Average Interest for Debt Issued | 1.40% |
Debt Instrument, Maturity Date | 31-Dec-22 |
Revolving Credit Facility [Member] | |
Line of Credit Facility [Line Items] | |
Line Of Credit Increase Maximum Borrowing Capacity | $5.50 |
Revolving Credit Facility [Member] | Maximum [Member] | |
Line of Credit Facility [Line Items] | |
Debt Instrument, Term | 5 years |
ShortTerm_and_LongTerm_Debt_Un
Short-Term and Long-Term Debt Unsecured Debt and Extinguishment of Debt (Details) | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | 1 Months Ended | |||||||||||||||||||||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Nov. 30, 2014 | Dec. 31, 2014 | Nov. 30, 2014 | Dec. 31, 2014 | Nov. 30, 2014 | Dec. 31, 2014 | Nov. 30, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2014 | 31-May-14 | Jul. 31, 2014 | Dec. 31, 2014 | Jul. 31, 2014 | Dec. 31, 2014 | Jul. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2014 | Oct. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Oct. 31, 2014 | Sep. 30, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Oct. 31, 2014 | Jan. 31, 2015 | Jan. 31, 2015 | Jan. 31, 2015 | Jan. 31, 2015 | |
USD ($) | USD ($) | USD ($) | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Senior Notes [Member] | Senior Notes [Member] | Senior Notes [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility [Member] | Revolving Credit Facility October 2014 [Member] | Revolving Credit Facility October 2014 [Member] | Three-year Revolving Credit Facility October 2014 [Member] | Three-year Revolving Credit Facility October 2014 [Member] | Five-year Revolving Credit Facility October 2014 [Member] | Five-year Revolving Credit Facility October 2014 [Member] | U.S. | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | |
USD ($) | USD ($) | USD ($) | Minimum [Member] | Minimum [Member] | Maximum [Member] | Maximum [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Revolving Credit Facility October 2014 [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | Unsecured Debt [Member] | ||||
Senior Notes Issued November 2014 [Member] | Senior Notes 2025 at 4.0% [Member] | Senior Notes 2025 at 4.0% [Member] | Senior Notes 2035 at 5.0% [Member] | Senior Notes 2035 at 5.0% [Member] | Senior Notes 2045 at 5.2% [Member] | Senior Notes 2045 at 5.2% [Member] | Senior Notes Issued September 2013 [Member] | Senior Notes 2018 at 3.5% [Member] | Senior Notes 2018 at 3.5% [Member] | Senior Notes 2023 at 4.875% [Member] | Senior Notes 2023 at 4.875% [Member] | Senior Notes 2043 at 6.25% [Member] | Senior Notes 2043 at 6.25% [Member] | Senior Notes Issued May 2014 [Member] | Senior Notes Issued May 2014 [Member] | Senior Notes Issued July 2014 [Member] | Senior Notes July 2017 at 2.625% [Member] | Senior Notes July 2017 at 2.625% [Member] | Senior Notes July 2019 at 3.5% [Member] | Senior Notes July 2019 at 3.5% [Member] | Senior Notes Issued September 2014 [Member] | Senior Notes September 2017 at 3.0% [Member] | Senior Notes September 2017 at 3.0% [Member] | Senior Notes September 2021 at 4.375% [Member] | Senior Notes September 2021 at 4.375% [Member] | Term Notes Issued October 2014 [Member] | Term Notes Issued October 2014 [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | Automotive [Member] | Automotive [Member] | GM Financial [Member] | GM Financial [Member] | Automotive [Member] | Automotive [Member] | Automotive [Member] | GM Financial [Member] | Automotive [Member] | GM Financial [Member] | Unsecured Debt [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | GM Financial [Member] | |||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | CAD | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | EUR (€) | Minimum [Member] | Maximum [Member] | USD ($) | Minimum [Member] | Maximum [Member] | USD ($) | Minimum [Member] | USD ($) | USD ($) | USD ($) | USD ($) | Automotive [Member] | Senior Notes Issued January 2015 [Member] | Senior Notes January 2020 at 3.15% [Member] | Senior Notes January 2025 at 4.0% [Member] | Senior Notes January 2020 at Floating Rates [Member] | |||||||||||||||||||||||||
USD ($) | USD ($) | USD ($) | USD ($) | USD ($) | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $11,000,000,000 | $12,500,000,000 | $5,000,000,000 | $7,500,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of Credit Facilities Entered Into | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Term | 5 years | 3 years | 5 years | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Sublimit available to GM FInancial | 2,000,000,000 | 2,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sublimit available for issuance of letters of credit | 1,600,000,000 | 500,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Sublimit available for borrowing denominated in Brazilian Real | 305,000,000 | 195,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt covenant, minimum liquidity requirement | 4,000,000,000 | 2,000,000,000 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Number of agencies needed to maintain investment grade rating | 2 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Face Amount | 2,500,000,000 | 500,000,000 | 750,000,000 | 1,250,000,000 | 4,500,000,000 | 1,500,000,000 | 1,500,000,000 | 1,500,000,000 | 400,000,000 | 1,500,000,000 | 700,000,000 | 800,000,000 | 2,000,000,000 | 750,000,000 | 1,250,000,000 | 500,000,000 | 2,250,000,000 | 1,000,000,000 | 1,000,000,000 | 250,000,000 | ||||||||||||||||||||||||||||||||||||
Interest Rate, Stated Percentage | 0.00% | 0.00% | 18.00% | 19.00% | 4.00% | 5.00% | 5.20% | 3.50% | 4.88% | 6.25% | 3.25% | 2.63% | 3.50% | 3.00% | 4.38% | 1.88% | 1.88% | 6.75% | 0.98% | 13.35% | 3.15% | 4.00% | ||||||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date | 31-Dec-25 | 31-Dec-35 | 31-Dec-45 | 31-Dec-18 | 31-Dec-23 | 31-Dec-43 | 31-May-17 | 31-Jul-17 | 31-Jul-19 | 30-Sep-17 | 30-Sep-21 | 31-Oct-19 | 31-Jan-20 | 31-Jan-25 | 31-Jan-20 | |||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date Range, Start | 31-Dec-16 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Instrument, Maturity Date Range, End | 31-Dec-23 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Extinguishment of Debt, Amount | 325,000,000 | 1,800,000,000 | 514,000,000 | |||||||||||||||||||||||||||||||||||||||||||||||||||||
Gain (loss) on extinguishment of debt | $202,000,000 | ($212,000,000) | ($250,000,000) | $202,000,000 | ($212,000,000) | ($250,000,000) |
ShortTerm_and_LongTerm_Debt_In
Short-Term and Long-Term Debt Interest Expense and LT Debt Maturities (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Debt Instrument [Line Items] | |||
Interest Expense | $1,829,000,000 | $1,049,000,000 | $772,000,000 |
Long-term Debt, Maturities, 2015 | 14,994,000,000 | ||
Long-term Debt, Maturities, 2016 | 9,351,000,000 | ||
Long-term Debt, Maturities, 2017 | 7,766,000,000 | ||
Long-term Debt, Maturities, 2018 | 4,266,000,000 | ||
Long-term Debt, Maturities, 2019 | 1,969,000,000 | ||
Long-term Debt, Maturities, Thereafter | 9,194,000,000 | ||
Long-term Debt, Maturities, Total | 47,540,000,000 | ||
Automotive [Member] | |||
Debt Instrument [Line Items] | |||
Interest Expense | 403,000,000 | 334,000,000 | 489,000,000 |
Long-term Debt, Maturities, 2015 | 503,000,000 | ||
Long-term Debt, Maturities, 2016 | 174,000,000 | ||
Long-term Debt, Maturities, 2017 | 511,000,000 | ||
Long-term Debt, Maturities, 2018 | 1,600,000,000 | ||
Long-term Debt, Maturities, 2019 | 109,000,000 | ||
Long-term Debt, Maturities, Thereafter | 7,194,000,000 | ||
Long-term Debt, Maturities, Total | 10,091,000,000 | ||
Future interest payments on capital lease obligations | 488,000,000 | ||
Capital Lease Obligations | 9,410,000,000 | 7,137,000,000 | |
GM Financial [Member] | |||
Debt Instrument [Line Items] | |||
Financing Interest Expense | 1,426,000,000 | 715,000,000 | 283,000,000 |
Long-term Debt, Maturities, 2015 | 14,491,000,000 | ||
Long-term Debt, Maturities, 2016 | 9,177,000,000 | ||
Long-term Debt, Maturities, 2017 | 7,255,000,000 | ||
Long-term Debt, Maturities, 2018 | 2,666,000,000 | ||
Long-term Debt, Maturities, 2019 | 1,860,000,000 | ||
Long-term Debt, Maturities, Thereafter | 2,000,000,000 | ||
Long-term Debt, Maturities, Total | 37,449,000,000 | ||
Capital Lease Obligations | 37,431,000,000 | 29,046,000,000 | |
Capital Lease Obligations [Member] | Automotive [Member] | |||
Debt Instrument [Line Items] | |||
Capital Lease Obligations | 968,000,000 | 965,000,000 | |
Capital Lease Obligations [Member] | GM Financial [Member] | |||
Debt Instrument [Line Items] | |||
Capital Lease Obligations | $0 |
Pensions_And_Other_Postretirem2
Pensions And Other Postretirement Benefits Contributions (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Defined Contribution Pension and Other Postretirement Plans Disclosure [Abstract] | |||
Defined Contribution Plan, Total Employer Contributions | $513 | $502 | $352 |
Pension Plan [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Defined Benefit Plan, Years of Service | 30 years | ||
Employer contributions | 913 | 1,014 | 3,275 |
US Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Estimated Future Employer Contributions in Next Fiscal Year | 70 | ||
Employer contributions | 143 | 128 | 2,420 |
Non-US Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Estimated Future Employer Contributions in Next Fiscal Year | 1,100 | ||
Employer contributions | 770 | 886 | 855 |
US OPEB Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Employer contributions | 354 | 393 | 432 |
Plan participants' contributions | 22 | 29 | 4 |
Total Contributions | $376 | $422 | $436 |
Pensions_And_Other_Postretirem3
Pensions And Other Postretirement Benefits Significant Plan Amendments (Details) (USD $) | 3 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 1 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Dec. 31, 2012 | Sep. 30, 2011 | Mar. 31, 2012 | |
US Pension Plans [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Liability Increase due to Mortality Assumptions | $2,200,000,000 | ||||||
Liability (Increase) Decrease Due to Amendments | 0 | 0 | |||||
U.S. Salaried Defined Benefit Life Insurance Plan [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Increase (decrease) in OPEB liability | -319,000,000 | ||||||
Decrease in pre-tax actuarial loss of AOCI | 236,000,000 | ||||||
Pre-tax gain (loss) due to settlement and curtailment | 83,000,000 | ||||||
U.S. Salaried Defined Benefit Pension Plan [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Decrease to Liability Due to Curtailments | 309,000,000 | ||||||
Settlements, Benefit Obligation | 30,600,000,000 | ||||||
Total Lump-sum Payments | 430,000,000 | 3,600,000,000 | |||||
Settlements, Previously Guaranteed Obligations | 1,900,000,000 | ||||||
Pre-tax gain (loss) due to settlement | 128,000,000 | -2,600,000,000 | |||||
After-tax gain (loss) due to settlement | -2,200,000,000 | ||||||
Pre-tax loss existing from AOCI | 377,000,000 | ||||||
Premium Paid | 2,100,000,000 | ||||||
Tax benefit | 413,000,000 | ||||||
Statutory tax benefit | 1,000,000,000 | ||||||
Tax expense | 596,000,000 | ||||||
Loan to Plan | 2,200,000,000 | ||||||
Loan contributed to the Plan | 1,700,000,000 | ||||||
Legal Services Plan [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Liability (Increase) Decrease Due to Amendments | 266,000,000 | ||||||
Non-US Pension Plans [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Liability (Increase) Decrease Due to Amendments | -17,000,000 | 4,000,000 | |||||
Non-US Pension Plans [Member] | GME [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Defined Benefit Plan, Interim Remeasurement | 150,000,000 | ||||||
Group Annuity Contracts [Member] | U.S. Salaried Defined Benefit Pension Plan [Member] | |||||||
Defined Benefit Plan Disclosure [Line Items] | |||||||
Settlements, Benefit Obligation | $25,100,000,000 |
Pensions_and_OPEB_Obligations_
Pensions and OPEB Obligations and Plan Assets (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
US Pension Plans [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning benefit obligation | $71,480 | $82,110 | |
Service Cost | 247 | 298 | |
Interest Cost | 3,060 | 2,837 | 4,055 |
Amendments | 0 | 0 | |
Actuarial (gains) losses | 7,770 | -7,661 | |
Benefits paid | -5,779 | -5,719 | |
Foreign currency translation adjustments | 0 | 0 | |
Curtailments, settlements, and other | -54 | -385 | |
Ending benefit obligation | 76,724 | 71,480 | 82,110 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning fair value of plan assets | 64,166 | 68,085 | |
Actual return on plan assets | 7,346 | 2,107 | |
Employer contributions | 143 | 128 | 2,420 |
Benefits paid | -5,779 | -5,719 | |
Foreign currency translation adjustments | 0 | 0 | |
Settlements and other | -53 | -435 | |
Ending fair value of plan assets | 65,823 | 64,166 | 68,085 |
Ending funded status | -10,901 | -7,314 | |
Amounts Recognized in Consolidated Balance Sheet [Abstract] | |||
Non-current Assets | 0 | 0 | |
Current Liabilities | -69 | -131 | |
Non-current Liabilities | -10,832 | -7,183 | |
Net Amounts Recorded | -10,901 | -7,314 | |
Amount Recorded in Accumulated Other Comprehensive Income (Loss) [Abstract] | |||
Net actuarial gain (loss) | 452 | 4,747 | |
Net Prior Service (Cost) Credit | 35 | 38 | |
Total recorded in Accumulated other comprehensive income (loss) | 487 | 4,785 | |
Non-US Pension Plans [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning benefit obligation | 27,528 | 29,301 | |
Service Cost | 358 | 394 | |
Interest Cost | 1,031 | 1,010 | 1,110 |
Amendments | 17 | -4 | |
Actuarial (gains) losses | 3,179 | -1,009 | |
Benefits paid | -1,699 | -1,683 | |
Foreign currency translation adjustments | -2,536 | -528 | |
Curtailments, settlements, and other | 19 | 47 | |
Ending benefit obligation | 27,897 | 27,528 | 29,301 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning fair value of plan assets | 14,986 | 15,541 | |
Actual return on plan assets | 1,893 | 988 | |
Employer contributions | 770 | 886 | 855 |
Benefits paid | -1,699 | -1,683 | |
Foreign currency translation adjustments | -1,232 | -692 | |
Settlements and other | -49 | -54 | |
Ending fair value of plan assets | 14,669 | 14,986 | 15,541 |
Ending funded status | -13,228 | -12,542 | |
Amounts Recognized in Consolidated Balance Sheet [Abstract] | |||
Non-current Assets | 111 | 137 | |
Current Liabilities | -383 | -379 | |
Non-current Liabilities | -12,956 | -12,300 | |
Net Amounts Recorded | -13,228 | -12,542 | |
Amount Recorded in Accumulated Other Comprehensive Income (Loss) [Abstract] | |||
Net actuarial gain (loss) | -5,019 | -3,379 | |
Net Prior Service (Cost) Credit | -57 | -87 | |
Total recorded in Accumulated other comprehensive income (loss) | -5,076 | -3,466 | |
US OPEB Plans [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning benefit obligation | 5,110 | 6,271 | |
Service Cost | 13 | 24 | 23 |
Interest Cost | 218 | 217 | 234 |
Amendments | 0 | 0 | |
Actuarial (gains) losses | 331 | -757 | |
Benefits paid | -376 | -422 | |
Foreign currency translation adjustments | 0 | 0 | |
Curtailments, settlements, and other | -7 | -223 | |
Ending benefit obligation | 5,289 | 5,110 | 6,271 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning fair value of plan assets | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Employer contributions | 354 | 393 | 432 |
Benefits paid | -376 | -422 | |
Foreign currency translation adjustments | 0 | 0 | |
Settlements and other | 22 | 29 | |
Ending fair value of plan assets | 0 | 0 | 0 |
Ending funded status | -5,289 | -5,110 | |
Amounts Recognized in Consolidated Balance Sheet [Abstract] | |||
Non-current Assets | 0 | 0 | |
Current Liabilities | -338 | -368 | |
Non-current Liabilities | -4,951 | -4,742 | |
Net Amounts Recorded | -5,289 | -5,110 | |
Amount Recorded in Accumulated Other Comprehensive Income (Loss) [Abstract] | |||
Net actuarial gain (loss) | -859 | -542 | |
Net Prior Service (Cost) Credit | 16 | 19 | |
Total recorded in Accumulated other comprehensive income (loss) | -843 | -523 | |
Non-US OPEB Plans [Member] | |||
Defined Benefit Plan, Change in Benefit Obligation [Roll Forward] | |||
Beginning benefit obligation | 1,238 | 1,528 | |
Service Cost | 10 | 13 | 16 |
Interest Cost | 55 | 57 | 63 |
Amendments | 0 | -4 | |
Actuarial (gains) losses | 117 | -210 | |
Benefits paid | -50 | -53 | |
Foreign currency translation adjustments | -108 | -98 | |
Curtailments, settlements, and other | 74 | 5 | |
Ending benefit obligation | 1,336 | 1,238 | 1,528 |
Defined Benefit Plan, Change in Fair Value of Plan Assets [Roll Forward] | |||
Beginning fair value of plan assets | 0 | 0 | |
Actual return on plan assets | 0 | 0 | |
Employer contributions | 48 | 51 | |
Benefits paid | -50 | -53 | |
Foreign currency translation adjustments | 0 | 0 | |
Settlements and other | 2 | 2 | |
Ending fair value of plan assets | 0 | 0 | 0 |
Ending funded status | -1,336 | -1,238 | |
Amounts Recognized in Consolidated Balance Sheet [Abstract] | |||
Non-current Assets | 0 | 0 | |
Current Liabilities | -58 | -83 | |
Non-current Liabilities | -1,278 | -1,155 | |
Net Amounts Recorded | -1,336 | -1,238 | |
Amount Recorded in Accumulated Other Comprehensive Income (Loss) [Abstract] | |||
Net actuarial gain (loss) | -83 | 47 | |
Net Prior Service (Cost) Credit | 72 | 91 | |
Total recorded in Accumulated other comprehensive income (loss) | ($11) | $138 |
Pensions_And_Other_Postretirem4
Pensions And Other Postretirement Benefits Accumulated Benefit Oblligations and Projected Benefit Obligations (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
US Pension Plans [Member] | ||
ABO and PBO [Line Items] | ||
ABO | $76,702 | $71,461 |
Plans with ABO in Excess of Plan Assets [Abstract] | ||
ABO | 76,702 | 71,461 |
Fair Value of Plan Assets | 65,823 | 64,166 |
Plans with PBO in Excess of Plan Assets [Abstract] | ||
PBO | 76,724 | 71,480 |
Fair Value of Plan Assets | 65,823 | 64,166 |
Non-US Pension Plans [Member] | ||
ABO and PBO [Line Items] | ||
ABO | 27,425 | 27,069 |
Plans with ABO in Excess of Plan Assets [Abstract] | ||
ABO | 26,510 | 25,897 |
Fair Value of Plan Assets | 13,638 | 13,663 |
Plans with PBO in Excess of Plan Assets [Abstract] | ||
PBO | 26,935 | 26,788 |
Fair Value of Plan Assets | $13,643 | $14,109 |
Pensions_And_Other_Postretirem5
Pensions And Other Postretirement Benefits Components of Expense and Assumptions (Details) (USD $) | 12 Months Ended | |||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2015 |
Amount to be Amortized from Accumulated Other Comprehensive Income (Loss) Next Fiscal Year [Abstract] | ||||
Amounts to be amortized from Accumulated other comprehensive (income) loss | $295 | |||
US Pension Plans [Member] | ||||
Components of Expense [Abstract] | ||||
Service Cost Including Administrative Expenses | 380 | 395 | 590 | |
Service Cost | 247 | 298 | ||
Interest Cost | 3,060 | 2,837 | 4,055 | |
Expected Return on Plan Assets | -3,914 | -3,562 | -5,029 | |
Amortization of Prior Service Cost (Credit) | -4 | -4 | -1 | |
Recognized net actuarial loss | -91 | 6 | 2 | |
Curtailments, Settlements and Other | -1 | -77 | 2,580 | |
Net Periodic Pension and OPEB Expense (Income) | -570 | -405 | 2,197 | |
Administrative Expense | 133 | 97 | 138 | |
Weighted-average assumptions used to determine benefit obligations [Abstract] | ||||
Discount rate | 3.73% | 4.46% | 3.59% | |
Weighted-average assumptions used to determine net expense [Abstract] | ||||
Discount rate | 4.46% | 3.59% | 4.06% | |
Expected return on plan assets | 6.53% | 5.77% | 6.18% | |
Rate of compensation increase | 4.50% | |||
Non-US Pension Plans [Member] | ||||
Components of Expense [Abstract] | ||||
Service Cost Including Administrative Expenses | 389 | 425 | 411 | |
Service Cost | 358 | 394 | ||
Interest Cost | 1,031 | 1,010 | 1,110 | |
Expected Return on Plan Assets | -873 | -823 | -870 | |
Amortization of Prior Service Cost (Credit) | 17 | 19 | 1 | |
Recognized net actuarial loss | 154 | 208 | 35 | |
Curtailments, Settlements and Other | 3 | -6 | 71 | |
Net Periodic Pension and OPEB Expense (Income) | 721 | 833 | 758 | |
Weighted-average assumptions used to determine benefit obligations [Abstract] | ||||
Discount rate | 3.14% | 4.10% | 3.70% | |
Rate of compensation increase | 2.85% | 2.90% | 2.77% | |
Weighted-average assumptions used to determine net expense [Abstract] | ||||
Discount rate | 4.10% | 3.69% | 4.45% | |
Expected return on plan assets | 6.28% | 5.70% | 6.20% | |
Rate of compensation increase | 2.90% | 2.77% | 3.15% | |
US OPEB Plans [Member] | ||||
Components of Expense [Abstract] | ||||
Service Cost | 13 | 24 | 23 | |
Interest Cost | 218 | 217 | 234 | |
Expected Return on Plan Assets | 0 | 0 | 0 | |
Amortization of Prior Service Cost (Credit) | -2 | -116 | -116 | |
Recognized net actuarial loss | 14 | 85 | 52 | |
Curtailments, Settlements and Other | 0 | -62 | 0 | |
Net Periodic Pension and OPEB Expense (Income) | 243 | 148 | 193 | |
Weighted-average assumptions used to determine benefit obligations [Abstract] | ||||
Discount rate | 3.80% | 4.52% | 3.68% | |
Rate of compensation increase | 4.50% | |||
Weighted-average assumptions used to determine net expense [Abstract] | ||||
Discount rate | 4.52% | 3.69% | 4.24% | |
Rate of compensation increase | 4.50% | 4.50% | ||
Non-US OPEB Plans [Member] | ||||
Components of Expense [Abstract] | ||||
Service Cost | 10 | 13 | 16 | |
Interest Cost | 55 | 57 | 63 | |
Expected Return on Plan Assets | 0 | 0 | 0 | |
Amortization of Prior Service Cost (Credit) | -14 | -14 | -12 | |
Recognized net actuarial loss | -6 | 6 | 6 | |
Curtailments, Settlements and Other | 0 | 0 | 11 | |
Net Periodic Pension and OPEB Expense (Income) | $45 | $62 | $84 | |
Weighted-average assumptions used to determine benefit obligations [Abstract] | ||||
Discount rate | 3.99% | 4.71% | 3.97% | |
Rate of compensation increase | 4.21% | 4.21% | 4.21% | |
Weighted-average assumptions used to determine net expense [Abstract] | ||||
Discount rate | 4.71% | 3.97% | 4.31% | |
Rate of compensation increase | 4.21% | 4.21% | 4.21% | |
Scenario, Forecast [Member] | US Pension Plans [Member] | ||||
Weighted-average assumptions used to determine net expense [Abstract] | ||||
Expected return on plan assets | 6.40% |
Pensions_And_Other_Postretirem6
Pensions And Other Postretirement Benefits Target Allocation tables (Details) | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2013 | |
US Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Target Plan Asset Allocations | 100.00% | 100.00% |
Non-US Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Target Plan Asset Allocations | 100.00% | 100.00% |
Equity [Member] | US Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Target Plan Asset Allocations | 16.00% | 19.00% |
Equity [Member] | Non-US Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Target Plan Asset Allocations | 27.00% | 28.00% |
Debt [Member] | US Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Target Plan Asset Allocations | 60.00% | 58.00% |
Debt [Member] | Non-US Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Target Plan Asset Allocations | 47.00% | 49.00% |
Other [Member] | US Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Target Plan Asset Allocations | 24.00% | 23.00% |
Other [Member] | Non-US Pension Plans [Member] | ||
Defined Benefit Plan Disclosure [Line Items] | ||
Defined Benefit Plan, Target Plan Asset Allocations | 26.00% | 23.00% |
Pensions_And_Other_Postretirem7
Pensions And Other Postretirement Benefits Assets and Fair Value Measurements (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
In Millions, unless otherwise specified | |||
US Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | $65,773 | $63,852 | |
Net plan assets subject to leveling | 65,254 | 63,513 | |
Other plan assets and liabilities | 569 | 653 | |
Net Plan Assets | 65,823 | 64,166 | 68,085 |
US Pension Plans [Member] | Cash equivalents and other short-term investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 42 | 411 | |
US Pension Plans [Member] | Common and preferred stocks [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 10,066 | 10,310 | |
US Pension Plans [Member] | Government and agency debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 16,143 | 14,971 | |
US Pension Plans [Member] | Corporate and other debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 22,808 | 20,777 | |
US Pension Plans [Member] | Investment funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 6,201 | 6,291 | |
US Pension Plans [Member] | Private equity and debt investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 5,909 | 6,335 | |
US Pension Plans [Member] | Real estate investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 4,170 | 4,521 | |
US Pension Plans [Member] | Other investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 65 | 62 | |
US Pension Plans [Member] | Derivative assets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 369 | 174 | |
US Pension Plans [Member] | Derivative liabilities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Liabilities | -519 | -339 | |
US Pension Plans [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 10,718 | 10,740 | |
Net plan assets subject to leveling | 10,695 | 10,718 | |
US Pension Plans [Member] | Level 1 [Member] | Cash equivalents and other short-term investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
US Pension Plans [Member] | Level 1 [Member] | Common and preferred stocks [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 10,033 | 10,234 | |
US Pension Plans [Member] | Level 1 [Member] | Government and agency debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
US Pension Plans [Member] | Level 1 [Member] | Corporate and other debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
US Pension Plans [Member] | Level 1 [Member] | Investment funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 70 | 99 | |
US Pension Plans [Member] | Level 1 [Member] | Private equity and debt investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
US Pension Plans [Member] | Level 1 [Member] | Real estate investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 560 | 390 | |
US Pension Plans [Member] | Level 1 [Member] | Other investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
US Pension Plans [Member] | Level 1 [Member] | Derivative assets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 55 | 17 | |
US Pension Plans [Member] | Level 1 [Member] | Derivative liabilities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Liabilities | -23 | -22 | |
US Pension Plans [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 40,165 | 37,278 | |
Net plan assets subject to leveling | 39,669 | 36,967 | |
US Pension Plans [Member] | Level 2 [Member] | Cash equivalents and other short-term investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 42 | 411 | |
US Pension Plans [Member] | Level 2 [Member] | Common and preferred stocks [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 30 | 70 | |
US Pension Plans [Member] | Level 2 [Member] | Government and agency debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 16,143 | 14,971 | |
US Pension Plans [Member] | Level 2 [Member] | Corporate and other debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 22,725 | 20,647 | |
US Pension Plans [Member] | Level 2 [Member] | Investment funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 910 | 1,018 | |
US Pension Plans [Member] | Level 2 [Member] | Private equity and debt investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
US Pension Plans [Member] | Level 2 [Member] | Real estate investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 2 | 4 | |
US Pension Plans [Member] | Level 2 [Member] | Other investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
US Pension Plans [Member] | Level 2 [Member] | Derivative assets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 313 | 157 | |
US Pension Plans [Member] | Level 2 [Member] | Derivative liabilities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Liabilities | -496 | -311 | |
US Pension Plans [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 14,890 | 15,834 | |
Net plan assets subject to leveling | 14,890 | 15,828 | 15,950 |
US Pension Plans [Member] | Level 3 [Member] | Cash equivalents and other short-term investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
US Pension Plans [Member] | Level 3 [Member] | Common and preferred stocks [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 3 | 6 | 19 |
US Pension Plans [Member] | Level 3 [Member] | Government and agency debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
US Pension Plans [Member] | Level 3 [Member] | Corporate and other debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 83 | 130 | 182 |
US Pension Plans [Member] | Level 3 [Member] | Investment funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 5,221 | 5,174 | 4,959 |
US Pension Plans [Member] | Level 3 [Member] | Private equity and debt investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 5,909 | 6,335 | 6,400 |
US Pension Plans [Member] | Level 3 [Member] | Real estate investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 3,608 | 4,127 | 4,335 |
US Pension Plans [Member] | Level 3 [Member] | Other investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 65 | 62 | 63 |
US Pension Plans [Member] | Level 3 [Member] | Derivative assets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 1 | 0 | |
US Pension Plans [Member] | Level 3 [Member] | Derivative liabilities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Liabilities | 0 | -6 | |
Non-US Pension Plans [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 14,727 | 14,812 | |
Net plan assets subject to leveling | 14,683 | 14,744 | |
Other plan assets and liabilities | -14 | 242 | |
Net Plan Assets | 14,669 | 14,986 | 15,541 |
Non-US Pension Plans [Member] | Cash equivalents and other short-term investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 207 | 156 | |
Non-US Pension Plans [Member] | Common and preferred stocks [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 1,962 | 1,822 | |
Non-US Pension Plans [Member] | Government and agency debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 3,614 | 3,418 | |
Non-US Pension Plans [Member] | Corporate and other debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 1,986 | 2,489 | |
Non-US Pension Plans [Member] | Investment funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 4,399 | 4,402 | |
Non-US Pension Plans [Member] | Private equity and debt investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 509 | 430 | |
Non-US Pension Plans [Member] | Real estate investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 1,287 | 1,430 | |
Non-US Pension Plans [Member] | Other investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 722 | 618 | |
Non-US Pension Plans [Member] | Derivative assets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 41 | 47 | |
Non-US Pension Plans [Member] | Derivative liabilities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Liabilities | -44 | -68 | |
Non-US Pension Plans [Member] | Level 1 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 2,097 | 1,960 | |
Net plan assets subject to leveling | 2,097 | 1,948 | |
Non-US Pension Plans [Member] | Level 1 [Member] | Cash equivalents and other short-term investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
Non-US Pension Plans [Member] | Level 1 [Member] | Common and preferred stocks [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 1,959 | 1,816 | |
Non-US Pension Plans [Member] | Level 1 [Member] | Government and agency debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
Non-US Pension Plans [Member] | Level 1 [Member] | Corporate and other debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
Non-US Pension Plans [Member] | Level 1 [Member] | Investment funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 101 | 128 | |
Non-US Pension Plans [Member] | Level 1 [Member] | Private equity and debt investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
Non-US Pension Plans [Member] | Level 1 [Member] | Real estate investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 20 | 13 | |
Non-US Pension Plans [Member] | Level 1 [Member] | Other investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
Non-US Pension Plans [Member] | Level 1 [Member] | Derivative assets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 17 | 3 | |
Non-US Pension Plans [Member] | Level 1 [Member] | Derivative liabilities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Liabilities | 0 | -12 | |
Non-US Pension Plans [Member] | Level 2 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 9,247 | 9,640 | |
Net plan assets subject to leveling | 9,203 | 9,584 | |
Non-US Pension Plans [Member] | Level 2 [Member] | Cash equivalents and other short-term investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 207 | 156 | |
Non-US Pension Plans [Member] | Level 2 [Member] | Common and preferred stocks [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 3 | 6 | |
Non-US Pension Plans [Member] | Level 2 [Member] | Government and agency debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 3,614 | 3,418 | |
Non-US Pension Plans [Member] | Level 2 [Member] | Corporate and other debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 1,986 | 2,475 | |
Non-US Pension Plans [Member] | Level 2 [Member] | Investment funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 3,409 | 3,529 | |
Non-US Pension Plans [Member] | Level 2 [Member] | Private equity and debt investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
Non-US Pension Plans [Member] | Level 2 [Member] | Real estate investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 4 | 12 | |
Non-US Pension Plans [Member] | Level 2 [Member] | Other investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
Non-US Pension Plans [Member] | Level 2 [Member] | Derivative assets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 24 | 44 | |
Non-US Pension Plans [Member] | Level 2 [Member] | Derivative liabilities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Liabilities | -44 | -56 | |
Non-US Pension Plans [Member] | Level 3 [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 3,383 | 3,212 | |
Net plan assets subject to leveling | 3,383 | 3,212 | |
Non-US Pension Plans [Member] | Level 3 [Member] | Cash equivalents and other short-term investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
Non-US Pension Plans [Member] | Level 3 [Member] | Common and preferred stocks [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
Non-US Pension Plans [Member] | Level 3 [Member] | Government and agency debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
Non-US Pension Plans [Member] | Level 3 [Member] | Corporate and other debt securities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 14 | 5 |
Non-US Pension Plans [Member] | Level 3 [Member] | Investment funds [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 889 | 745 | 641 |
Non-US Pension Plans [Member] | Level 3 [Member] | Private equity and debt investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 509 | 430 | 381 |
Non-US Pension Plans [Member] | Level 3 [Member] | Real estate investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 1,263 | 1,405 | 1,422 |
Non-US Pension Plans [Member] | Level 3 [Member] | Other investments [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 722 | 618 | 665 |
Non-US Pension Plans [Member] | Level 3 [Member] | Derivative assets [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Assets | 0 | 0 | |
Non-US Pension Plans [Member] | Level 3 [Member] | Derivative liabilities [Member] | |||
Defined Benefit Plan Disclosure [Line Items] | |||
Liabilities | $0 | $0 |
Pensions_And_Other_Postretirem8
Pensions And Other Postretirement Benefits Pension Level 3 Assets rollforward (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
US Pension Plans [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | $63,852 | |
Beginning balance-net assets | 63,513 | |
Net Realized / Unrealized Gains (Losses) | 7,346 | 2,107 |
Effect of Foreign Currency | 0 | 0 |
Ending balance-gross assets | 65,773 | 63,852 |
Ending balance-net assets | 65,254 | 63,513 |
US Pension Plans [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 15,834 | |
Beginning balance-net assets | 15,828 | 15,950 |
Net Realized / Unrealized Gains (Losses) | 1,136 | 1,945 |
Purchases, Sales and Settlements, Net | -2,068 | -2,067 |
Transfers Into/Out of Level 3 | -6 | 0 |
Ending balance-gross assets | 14,890 | 15,834 |
Ending balance-net assets | 14,890 | 15,828 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | 304 | 1,160 |
US Pension Plans [Member] | Common and preferred stocks [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 10,066 | 10,310 |
US Pension Plans [Member] | Common and preferred stocks [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 6 | 19 |
Net Realized / Unrealized Gains (Losses) | 2 | 3 |
Purchases, Sales and Settlements, Net | -5 | -16 |
Transfers Into/Out of Level 3 | 0 | 0 |
Ending balance-gross assets | 3 | 6 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | 0 | 1 |
US Pension Plans [Member] | Corporate and other debt securities [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 22,808 | 20,777 |
US Pension Plans [Member] | Corporate and other debt securities [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 130 | 182 |
Net Realized / Unrealized Gains (Losses) | 0 | 6 |
Purchases, Sales and Settlements, Net | -41 | -58 |
Transfers Into/Out of Level 3 | -6 | 0 |
Ending balance-gross assets | 83 | 130 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | -4 | -3 |
US Pension Plans [Member] | Investment funds [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 6,201 | 6,291 |
US Pension Plans [Member] | Investment funds [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 5,174 | 4,959 |
Net Realized / Unrealized Gains (Losses) | 231 | 552 |
Purchases, Sales and Settlements, Net | -184 | -337 |
Transfers Into/Out of Level 3 | 0 | 0 |
Ending balance-gross assets | 5,221 | 5,174 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | 208 | 537 |
US Pension Plans [Member] | Private equity and debt investments [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 5,909 | 6,335 |
US Pension Plans [Member] | Private equity and debt investments [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 6,335 | 6,400 |
Net Realized / Unrealized Gains (Losses) | 651 | 926 |
Purchases, Sales and Settlements, Net | -1,077 | -991 |
Transfers Into/Out of Level 3 | 0 | 0 |
Ending balance-gross assets | 5,909 | 6,335 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | 27 | 436 |
US Pension Plans [Member] | Real estate investments [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 4,170 | 4,521 |
US Pension Plans [Member] | Real estate investments [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 4,127 | 4,335 |
Net Realized / Unrealized Gains (Losses) | 251 | 458 |
Purchases, Sales and Settlements, Net | -770 | -666 |
Transfers Into/Out of Level 3 | 0 | 0 |
Ending balance-gross assets | 3,608 | 4,127 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | 68 | 190 |
US Pension Plans [Member] | Other investments [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 65 | 62 |
US Pension Plans [Member] | Other investments [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 62 | 63 |
Net Realized / Unrealized Gains (Losses) | 5 | -2 |
Purchases, Sales and Settlements, Net | -2 | 1 |
Transfers Into/Out of Level 3 | 0 | 0 |
Ending balance-gross assets | 65 | 62 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | 5 | -2 |
US Pension Plans [Member] | Derivatives [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-net assets | -6 | -8 |
Net Realized / Unrealized Gains (Losses) | -4 | 2 |
Purchases, Sales and Settlements, Net | 11 | 0 |
Transfers Into/Out of Level 3 | 0 | 0 |
Ending balance-net assets | 1 | -6 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | 0 | 1 |
Non-US Pension Plans [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 14,812 | |
Beginning balance-net assets | 14,744 | |
Net Realized / Unrealized Gains (Losses) | 1,893 | 988 |
Effect of Foreign Currency | -1,232 | -692 |
Ending balance-gross assets | 14,727 | 14,812 |
Ending balance-net assets | 14,683 | 14,744 |
Non-US Pension Plans [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 3,383 | 3,212 |
Ending balance-net assets | 3,383 | 3,212 |
Non-US Pension Plans [Member] | Common and preferred stocks [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 1,962 | 1,822 |
Non-US Pension Plans [Member] | Common and preferred stocks [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 0 | 0 |
Non-US Pension Plans [Member] | Corporate and other debt securities [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 1,986 | 2,489 |
Non-US Pension Plans [Member] | Corporate and other debt securities [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 14 | 5 |
Net Realized / Unrealized Gains (Losses) | 0 | 1 |
Purchases, Sales and Settlements, Net | -13 | 7 |
Transfers Into/Out of Level 3 | 0 | 1 |
Effect of Foreign Currency | -1 | 0 |
Ending balance-gross assets | 0 | 14 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | 0 | 1 |
Non-US Pension Plans [Member] | Investment funds [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 4,399 | 4,402 |
Non-US Pension Plans [Member] | Investment funds [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 745 | 641 |
Net Realized / Unrealized Gains (Losses) | 103 | 110 |
Purchases, Sales and Settlements, Net | 111 | 27 |
Transfers Into/Out of Level 3 | 0 | 0 |
Effect of Foreign Currency | -70 | -33 |
Ending balance-gross assets | 889 | 745 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | 103 | 112 |
Non-US Pension Plans [Member] | Private equity and debt investments [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 509 | 430 |
Non-US Pension Plans [Member] | Private equity and debt investments [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 430 | 381 |
Net Realized / Unrealized Gains (Losses) | 100 | 73 |
Purchases, Sales and Settlements, Net | 20 | 3 |
Transfers Into/Out of Level 3 | 0 | 0 |
Effect of Foreign Currency | -41 | -27 |
Ending balance-gross assets | 509 | 430 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | 75 | 53 |
Non-US Pension Plans [Member] | Real estate investments [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 1,287 | 1,430 |
Non-US Pension Plans [Member] | Real estate investments [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 1,405 | 1,422 |
Net Realized / Unrealized Gains (Losses) | 48 | 103 |
Purchases, Sales and Settlements, Net | -84 | -57 |
Transfers Into/Out of Level 3 | 0 | 0 |
Effect of Foreign Currency | -106 | -63 |
Ending balance-gross assets | 1,263 | 1,405 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | 44 | 122 |
Non-US Pension Plans [Member] | Other investments [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Ending balance-gross assets | 722 | 618 |
Non-US Pension Plans [Member] | Other investments [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 618 | 665 |
Net Realized / Unrealized Gains (Losses) | 92 | -10 |
Purchases, Sales and Settlements, Net | 72 | -43 |
Transfers Into/Out of Level 3 | 0 | 0 |
Effect of Foreign Currency | -60 | 6 |
Ending balance-gross assets | 722 | 618 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | 76 | 4 |
Non-US Pension Plans [Member] | Total assets [Member] | Level 3 [Member] | ||
Pension Level 3 Assets Reconciliation [Roll Forward] | ||
Beginning balance-gross assets | 3,212 | 3,114 |
Net Realized / Unrealized Gains (Losses) | 343 | 277 |
Purchases, Sales and Settlements, Net | 106 | -63 |
Transfers Into/Out of Level 3 | 0 | 1 |
Effect of Foreign Currency | -278 | -117 |
Ending balance-gross assets | 3,383 | 3,212 |
Change in Unrealized Gains (Losses) Attributable to Assets Held at Balance Sheet Date | $298 | $292 |
Pensions_And_Other_Postretirem9
Pensions And Other Postretirement Benefits Benefit Payments (Details) (USD $) | 12 Months Ended |
Dec. 31, 2014 | |
US Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
Minimum Period Of Time For Which There Are No Significant Mandatory Contributions For Qualified Plans | 5 years |
Funding Requirements for Upcoming Year for Qualified Plans | $0 |
2015 | 5,616,000,000 |
2016 | 5,572,000,000 |
2017 | 5,380,000,000 |
2018 | 5,239,000,000 |
2019 | 5,128,000,000 |
2020 - 2024 | 23,754,000,000 |
Non-US Pension Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2015 | 1,530,000,000 |
2016 | 1,570,000,000 |
2017 | 1,558,000,000 |
2018 | 1,458,000,000 |
2019 | 1,448,000,000 |
2020 - 2024 | 7,136,000,000 |
US OPEB Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2015 | 344,000,000 |
2016 | 331,000,000 |
2017 | 322,000,000 |
2018 | 313,000,000 |
2019 | 307,000,000 |
2020 - 2024 | 1,470,000,000 |
Non-US OPEB Plans [Member] | |
Defined Benefit Plan Disclosure [Line Items] | |
2015 | 59,000,000 |
2016 | 63,000,000 |
2017 | 61,000,000 |
2018 | 63,000,000 |
2019 | 65,000,000 |
2020 - 2024 | $348,000,000 |
Derivative_Financial_Instrumen1
Derivative Financial Instruments (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
Automotive [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | $8,800,000,000 | $9,300,000,000 |
Derivative Liability, Notional Amount | 953,000,000 | 427,000,000 |
GM Financial [Member] | ||
Derivative [Line Items] | ||
Derivative Asset, Notional Amount | 5,400,000,000 | 5,500,000,000 |
Derivative Liability, Notional Amount | $8,500,000,000 | $7,600,000,000 |
Commitments_and_Contingencies_1
Commitments and Contingencies Guarantees (Details) (USD $) | Dec. 31, 2014 | Dec. 31, 2013 |
In Millions, unless otherwise specified | ||
Third party Commercial Loans and other Obligations [Member] | ||
Guarantor Obligations [Line Items] | ||
Liability Recorded | $37 | $51 |
Maximum Liability | 197 | 15,616 |
Guarantees of Product-Related Claims [Member] | ||
Guarantor Obligations [Line Items] | ||
Liability Recorded | 51 | 54 |
Maximum Liability | 2,458 | 1,317 |
Ally Financial [Member] | Third party Commercial Loans and other Obligations [Member] | ||
Guarantor Obligations [Line Items] | ||
Liability Recorded | 10 | |
Maximum Liability | $15,300 |
Commitments_and_Contingencies_2
Commitments and Contingencies Loss Contingencies (Details) | 12 Months Ended | 1 Months Ended | 12 Months Ended | 9 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 13 Months Ended | 13 Months Ended | 4 Months Ended | ||||||||||||||||
Dec. 31, 2014 | Dec. 31, 2013 | Oct. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Oct. 14, 2014 | Feb. 28, 2010 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Dec. 31, 2014 | Jan. 30, 2015 | Jan. 30, 2015 | Jan. 30, 2015 | Jan. 30, 2015 | Jan. 30, 2015 | Jan. 30, 2015 | Jan. 30, 2015 | Oct. 13, 2014 | Dec. 31, 2014 | Oct. 09, 2014 | |
USD ($) | USD ($) | BRAZIL | Minimum [Member] | Maximum [Member] | Ignition Switch Recall Litigations [Member] | Ignition Switch Recall Litigations [Member] | GMCL Dealer Litigation [Member] | GMCL Dealer Litigation [Member] | GMCL Dealer Litigation [Member] | UAW Lawsuit [Member] | Korea Wage Litigation - Hourly [Member] | Korea Wage Litigation - Hourly [Member] | Korea Wage Litigation - Salaried [Member] | Korea Wage Litigation - Salaried [Member] | Recalls - Ignition Switch [Member] | Ignition Switch Recall Compensation Program [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Subsequent Event [Member] | Consolidated Litigation [Member] | Consolidated Litigation [Member] | Consolidated Litigation [Member] | |
USD ($) | USD ($) | NEW YORK | CAD | USD ($) | USD ($) | USD ($) | KRW | USD ($) | KRW | USD ($) | Ignition Switch Recall Litigations [Member] | Ignition Switch Recall Litigations - Economic Damage [Member] | Ignition Switch Recall Litigations - Economic Damage [Member] | Ignition Switch Recall Litigations - Injury or Death [Member] | Ignition Switch Recall Litigations - Concealment of Information [Member] | Ignition Switch Recall Litigations - Concealment of Information [Member] | Ignition Switch Recall Compensation Program [Member] | Ignition Switch Recall Litigations, Shareholder Derivative Action [Member] | Ignition Switch Recall Litigations, Shareholder Derivative Action [Member] | Ignition Switch Recall Litigations, Shareholder Derivative Action [Member] | |||||||
employee | employee | NEW YORK | U.S. | CANADA | U.S. | NEW YORK | CALIFORNIA | USD ($) | DELAWARE | MICHIGAN | MICHIGAN | ||||||||||||||||
Loss Contingencies [Line Items] | |||||||||||||||||||||||||||
Other Litigation Liability and Tax Administrative Matters | $1,000,000,000 | $1,227,000,000 | $0 | ||||||||||||||||||||||||
Accrual for ignition switch recall compensation program | 315,000,000 | ||||||||||||||||||||||||||
Credit Card Redemption liability | 87,000,000 | 183,000,000 | |||||||||||||||||||||||||
Credit Card Deferred revenue | 263,000,000 | 295,000,000 | |||||||||||||||||||||||||
Asset Retirement Obligation | 146,000,000 | 159,000,000 | |||||||||||||||||||||||||
Credit Card Programs Available Rebate | 2,300,000,000 | 2,600,000,000 | |||||||||||||||||||||||||
Indirect Tax-Related Escrow Deposit | 500,000,000 | 700,000,000 | |||||||||||||||||||||||||
Pending Claims, Number | 108 | 20 | 104 | 2 | 3,810 | 4 | 2 | 2 | |||||||||||||||||||
Number of Claims Transferred | 156 | 1 | |||||||||||||||||||||||||
Number of Consolidated Claims | 2 | ||||||||||||||||||||||||||
State Attorneys General, Number | 49 | ||||||||||||||||||||||||||
Number of Plaintiffs | 200 | 181 | 10,000 | 10,000 | |||||||||||||||||||||||
Damage Sought, Value | 750,000,000 | 450,000,000 | |||||||||||||||||||||||||
Number Of Group Actions | 8 | 8 | |||||||||||||||||||||||||
Number of Employee in the Case | 5 | 5 | |||||||||||||||||||||||||
Vehicles recalled | 42,000,000 | 2,600,000 | |||||||||||||||||||||||||
Range of Possible Loss, Portion Not Accrued | 511,000,000 | 562,000,000,000 | 149,000,000 | 164,000,000,000 | 200,000,000 | ||||||||||||||||||||||
Eligible Claims, Number | 128 | ||||||||||||||||||||||||||
Payments of Ignition Switch Recall Compensation Program | $93,000,000 | ||||||||||||||||||||||||||
Increase in Excise Tax Rate | 30.00% |
Commitments_and_Contingencies_3
Commitments and Contingencies Loss Contingencies Product Liability And Environmental Liability (Details) (USD $) | 12 Months Ended | |
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 |
Loss Contingencies Product Liability And Environmental Liability [Line Items] | ||
Product Liability | $732 | $690 |
Environmental Liability | 133 | 154 |
Environmental Remediation Years of Cost to Incur, Min | 5 years | |
Environmental Remediation Years of Cost to Incur, Max | 30 years | |
Minimum [Member] | ||
Loss Contingencies Product Liability And Environmental Liability [Line Items] | ||
Indirect Tax-Related Escrow Deposit | 500 | |
Environmental Remediation Losses | 110 | |
Maximum [Member] | ||
Loss Contingencies Product Liability And Environmental Liability [Line Items] | ||
Indirect Tax-Related Escrow Deposit | 700 | |
Environmental Remediation Losses | $210 |
Commitments_and_Contingencies_4
Commitments and Contingencies Noncancelable Operating Leases (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Commitments and Contingencies Disclosure [Abstract] | |||
Future Minimum Payments, 2015 | $348 | ||
Future Minimum Payments, 2016 | 280 | ||
Future Minimum Payments, 2017 | 196 | ||
Future Minimum Payments, 2018 | 171 | ||
Future Minimum Payments, 2019 | 144 | ||
Future Minimum Payments, Thereafter | 396 | ||
Sublease income, 2015 | -53 | ||
Sublease income, 2016 | -62 | ||
Sublease income, 2017 | -59 | ||
Sublease income, 2018 | -56 | ||
Sublease income, 2019 | -54 | ||
Sublease Income, thereafter | -248 | ||
Net minimum commitment, 2015 | 295 | ||
Net minimum commitment, 2016 | 218 | ||
Net minimum commitment, 2017 | 137 | ||
Net minimum commitment, 2018 | 115 | ||
Net minimum commitment, 2019 | 90 | ||
Net minimum commitment, thereafter | 148 | ||
Operating Leases, Rent Expense, Net | $444 | $477 | $474 |
Income_Taxes_Pretax_income_and
Income Taxes Pre-tax income and income tax expense (benefit) (Details) (USD $) | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Income (loss) before income taxes and equity income | $2,152,000,000 | $5,648,000,000 | ($30,257,000,000) |
Basis Difference Related to Fair Value Changes | 4,100,000,000 | 4,100,000,000 | |
Basis Differences Resulting from Indefinitely Reinvested Earnings | 3,000,000,000 | 2,600,000,000 | |
Income Tax Expense (Benefit), Continuing Operations [Abstract] | |||
Current Federal Tax Expense (Benefit) | -23,000,000 | -34,000,000 | 6,000,000 |
Current State and Local Tax Expense (Benefit) | 154,000,000 | 88,000,000 | 78,000,000 |
Current Foreign Tax Expense (Benefit) | 671,000,000 | 512,000,000 | 646,000,000 |
Current Income Tax Expense (Benefit) | 802,000,000 | 566,000,000 | 730,000,000 |
Deferred Federal Income Tax Expense (Benefit) | -581,000,000 | 1,049,000,000 | -28,965,000,000 |
Deferred State and Local Income Tax Expense (Benefit) | -60,000,000 | 137,000,000 | -3,415,000,000 |
Deferred Foreign Income Tax Expense (Benefit) | 67,000,000 | 375,000,000 | -3,181,000,000 |
Deferred Income Tax Expense (Benefit) | -574,000,000 | 1,561,000,000 | -35,561,000,000 |
Income Tax Expense (Benefit) | 228,000,000 | 2,127,000,000 | -34,831,000,000 |
Effective Income Tax Rate Reconciliation, Amount [Abstract] | |||
Income tax expense (benefit) at U.S. federal statutory income tax rate | 753,000,000 | 1,977,000,000 | -10,590,000,000 |
State and local tax expense | 73,000,000 | 145,000,000 | 254,000,000 |
Non-U.S. income taxed at other than 35% | -72,000,000 | -168,000,000 | 908,000,000 |
Foreign Tax Credit Election Change | 0 | 0 | -1,075,000,000 |
U.S. Tax on Non-U.S. Income | -8,000,000 | 543,000,000 | 713,000,000 |
Change in valuation allowance | -402,000,000 | 182,000,000 | -33,917,000,000 |
Change in Tax Laws | 602,000,000 | 146,000,000 | 67,000,000 |
Research Incentives | -279,000,000 | -490,000,000 | -68,000,000 |
Goodwill Impairment | 41,000,000 | 124,000,000 | 8,705,000,000 |
Settlements of Prior Year Tax Matters | -275,000,000 | -473,000,000 | 0 |
Realization of Basis Differences in Affiliates | -256,000,000 | 0 | 0 |
Foreign Currency Remeasurement | 124,000,000 | -21,000,000 | -36,000,000 |
U.S. salaried pension plan settlement | 0 | 0 | 541,000,000 |
Other Adjustments | -73,000,000 | 162,000,000 | -333,000,000 |
U.S. | |||
Income (loss) before income taxes and equity income | 1,683,000,000 | 4,880,000,000 | -19,063,000,000 |
Non-U.S. | |||
Income (loss) before income taxes and equity income | $469,000,000 | $768,000,000 | ($11,194,000,000) |
Income_Taxes_Income_Tax_Assets
Income Taxes Income Tax Assets and Liabilities (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||
Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2013 | |
Deferred income tax assets and liabilities [Line Items] | ||||
Postretirement Benefits Other Than Pensions | $2,958,000,000 | $2,902,000,000 | ||
Pensions and Other Employee Benefit Plans | 7,503,000,000 | 5,469,000,000 | ||
Warranties, Dealer and Customer Allowances, Claims and Discounts | 5,512,000,000 | 4,282,000,000 | ||
Property, Plants and Equipment | 2,323,000,000 | 2,464,000,000 | ||
Capitalized Research Expenditures | 8,588,000,000 | 7,179,000,000 | ||
Operating Loss and Tax Credit Carryforwards | 14,136,000,000 | 19,342,000,000 | ||
Miscellaneous | 3,286,000,000 | 1,663,000,000 | ||
Deferred Tax Assets, Gross | 44,306,000,000 | 43,301,000,000 | ||
Total Deferred Tax Assets | 34,647,000,000 | 32,478,000,000 | ||
Intangible Assets | 416,000,000 | 397,000,000 | ||
Net Deferred Tax Assets | 34,231,000,000 | 32,081,000,000 | ||
Operating Loss and Tax Credit Carryforwards Subject to Expiration | 8,900,000,000 | |||
Operating Loss and Tax Credit Carryforwards Not Subject to Expiration | 5,200,000,000 | |||
Valuation Allowance | -9,659,000,000 | -10,823,000,000 | ||
Reversal of Valuation Allowance | -36,364,000,000 | |||
EUROPE | ||||
Deferred income tax assets and liabilities [Line Items] | ||||
Valuation Allowance | -4,900,000,000 | |||
U.S. | ||||
Deferred income tax assets and liabilities [Line Items] | ||||
Reversal of Valuation Allowance | -33,200,000,000 | |||
CANADA | ||||
Deferred income tax assets and liabilities [Line Items] | ||||
Reversal of Valuation Allowance | ($3,100,000,000) |
Income_Taxes_Uncertain_Tax_Pos
Income Taxes Uncertain Tax Positions (Details) (USD $) | 1 Months Ended | 12 Months Ended | ||
Nov. 30, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | |
Unrecognized Tax Benefits [Roll Forward] | ||||
Unrecognized Tax Benefits - Beginning Balance | $2,530,000,000 | $2,745,000,000 | $2,370,000,000 | |
Additions to Current Year Tax Positions | 184,000,000 | 251,000,000 | 112,000,000 | |
Additions to Prior Year Tax Positions | 149,000,000 | 276,000,000 | 512,000,000 | |
Reductions to Prior Year Tax Positions | -603,000,000 | -535,000,000 | -141,000,000 | |
Reductions in Tax Positions due to Lapse of Statutory Limitations | -164,000,000 | -73,000,000 | -34,000,000 | |
Settlements | -138,000,000 | -132,000,000 | -112,000,000 | |
Other | -81,000,000 | -2,000,000 | 38,000,000 | |
Unrecognized Tax Benefits - Ending Balance | 1,877,000,000 | 2,530,000,000 | 2,745,000,000 | |
Unrecognized Tax Benefit that Would Favorably Affect Effective Tax Rate in Future | 1,200,000,000 | 1,500,000,000 | ||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 246,000,000 | 286,000,000 | ||
Income Tax Settlement | 473,000,000 | |||
Tax Benefit from Prior Year Research Credits | $200,000,000 |
Restructuring_And_Other_Initia2
Restructuring And Other Initiatives (Details) (USD $) | 12 Months Ended | 3 Months Ended | ||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2012 | Dec. 31, 2013 | Mar. 31, 2012 |
employees | employees | |||||
Restructuring Reserve [Roll Forward] | ||||||
Beginning Balance | $1,349 | $1,320 | $1,584 | |||
Additions, interest accretion and other | 1,013 | 714 | 570 | |||
Payments | -862 | -660 | -749 | |||
Revisions to estimates and effect of foreign currency | -122 | -25 | -85 | |||
Ending Balance | 1,378 | 1,349 | 1,320 | 1,320 | 1,349 | |
Impairment of Intangible Assets, Finite-lived | 16 | 523 | 1,755 | |||
Property, Plant and Equipment [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Tangible Asset Impairment Charges | 709 | 901 | 3,793 | |||
GMNA [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Beginning Balance | 497 | 653 | 884 | |||
Additions, interest accretion and other | 42 | 58 | 140 | |||
Payments | -96 | -182 | -304 | |||
Revisions to estimates and effect of foreign currency | 16 | -32 | -67 | |||
Ending Balance | 459 | 497 | 653 | 653 | 497 | |
Remaining Payments Including Temporary Layoffs Benefits | 354 | 353 | 356 | 356 | 353 | |
GMNA [Member] | 2011 UAW Labor Agreement [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 99 | |||||
Employees Affected, Inception to Date | 1,400 | |||||
GME [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Beginning Balance | 503 | 590 | 687 | |||
Additions, interest accretion and other | 675 | 202 | 254 | |||
Payments | -329 | -299 | -344 | |||
Revisions to estimates and effect of foreign currency | -98 | 10 | -7 | |||
Ending Balance | 751 | 503 | 590 | 590 | 503 | |
Impairment of Intangible Assets, Finite-lived | 1,800 | |||||
GME [Member] | Property, Plant and Equipment [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Tangible Asset Impairment Charges | 179 | |||||
GME [Member] | Automotive Cost of Sales [Member] | Property, Plant and Equipment [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Tangible Asset Impairment Charges | 3,700 | |||||
GME [Member] | Germany Separation Programs [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 841 | 194 | 310 | 310 | 194 | |
Employees Affected, Inception to Date | 3,560 | 450 | 450 | |||
GME [Member] | Germany and UK Separation Programs [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 400 | 400 | ||||
Employees Affected, Inception to Date | 2,550 | 2,550 | ||||
GMIO [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Beginning Balance | 333 | 39 | 1 | |||
Additions, interest accretion and other | 213 | 404 | 84 | |||
Payments | -342 | -111 | -46 | |||
Revisions to estimates and effect of foreign currency | -38 | 1 | 0 | |||
Ending Balance | 166 | 333 | 39 | 39 | 333 | |
GMIO [Member] | Property, Plant and Equipment [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Tangible Asset Impairment Charges | 321 | |||||
GMIO [Member] | Separation Programs in Australia, Korea, and Chevrolet Europe [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 514 | 420 | 420 | |||
Employees Affected, Inception to Date | 3,380 | 4,100 | 4,100 | |||
Expected Cost Remaining | 270 | |||||
GMIO [Member] | Korea and Australia Separation Program [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 69 | 69 | ||||
Employees Affected, Inception to Date | 650 | 650 | ||||
GMIO [Member] | Withdrawal of the Chevrolet Brand from Europe [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Employees Affected, Inception to Date | 480 | 480 | ||||
Number of Dealers and Distributors Impacted, Inception to Date | 1,200 | 1,200 | ||||
Cost Related to Business Withdrawal | 636 | |||||
Noncontrolling Interest Adjustments | 124 | |||||
Sales Incentive and Inventory Related Costs | 233 | |||||
GMIO [Member] | Withdrawal of the Chevrolet Brand from Europe [Member] | Dealer Restructuring Costs [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 233 | 233 | ||||
GMIO [Member] | Withdrawal of the Chevrolet Brand from Europe [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 30 | 30 | ||||
GMIO [Member] | Holden Manufacturing Operations [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Employees Affected, Inception to Date | 2,900 | 2,900 | ||||
GMIO [Member] | Holden Manufacturing Operations [Member] | Automotive Cost of Sales [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Cost Related to Business Withdrawal | 536 | |||||
GMIO [Member] | Holden Manufacturing Operations [Member] | Automotive Cost of Sales [Member] | Property, Plant and Equipment [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Tangible Asset Impairment Charges | 477 | |||||
GMIO [Member] | Holden Manufacturing Operations [Member] | Employee Severance [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 59 | 59 | ||||
GMSA [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Beginning Balance | 16 | 38 | 12 | |||
Additions, interest accretion and other | 83 | 50 | 92 | |||
Payments | -95 | -68 | -55 | |||
Revisions to estimates and effect of foreign currency | -2 | -4 | -11 | |||
Ending Balance | 2 | 16 | 38 | 38 | 16 | |
GMSA [Member] | Separation Program in Brazil and Venezuela [Domain] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | 169 | |||||
GMSA [Member] | Separation Program in Brazil [Member] | ||||||
Restructuring Reserve [Roll Forward] | ||||||
Restructuring and Related Cost, Cost Incurred to Date | $103 | $87 | $87 | $103 |
Interest_Income_and_Other_NonO2
Interest Income and Other Non-Operating Income, net (Details) (USD $) | 12 Months Ended | 1 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 |
Interest Income | $211 | $246 | $343 | |
Net gains (losses) on derivatives | 48 | -13 | -63 | |
Dividends and royalties | 101 | 97 | 98 | |
Foreign currency transaction and remeasurement gains (losses) | 378 | -154 | 16 | |
Gains (losses) on securities and other investments - realized and unrealized | 13 | 691 | -193 | |
Deferred income from technology agreements | 0 | 100 | 114 | |
Other | 72 | 96 | 530 | |
Total interest income and other non-operating income, net | 823 | 1,063 | 845 | |
Ally Financial [Member] | ||||
Cost-method Investments, Realized Gains | 483 | |||
Ally Financial [Member] | Common Stock [Member] | ||||
Proceeds from Sale of Other Investments | $880 |
Stockholders_Equity_and_Noncon2
Stockholders' Equity and Noncontrolling Interests Preferred and Common Stock (Details) (USD $) | 12 Months Ended | 1 Months Ended | |||||||
Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Sep. 30, 2013 | Dec. 31, 2013 | Sep. 30, 2014 | Dec. 31, 2012 | Dec. 02, 2013 | |
Votes | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred Stock, Shares Authorized | 2,000,000,000 | 2,000,000,000 | |||||||
Common Stock, Shares Authorized | 5,000,000,000 | 5,000,000,000 | |||||||
Common Stock, Shares, Issued | 1,600,000,000 | 1,500,000,000 | 1,600,000,000 | 1,500,000,000 | |||||
Common Stock, Shares, Outstanding | 1,600,000,000 | 1,500,000,000 | 1,600,000,000 | 1,500,000,000 | |||||
Common Stock Dividend per Annum | $1.20 | ||||||||
Dividends Paid, Common Shares | $1,928,000,000 | $0 | $0 | ||||||
Common Stock Voting Rights Number of Votes per Share | 1 | 1 | |||||||
Stock Repurchased During Period, Equity Impact | 5,109,000,000 | ||||||||
Series A Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Preferred Stock, Shares Issued | 0 | 156,000,000 | 0 | 156,000,000 | |||||
Preferred Stock, Shares Outstanding | 0 | 156,000,000 | 0 | 156,000,000 | |||||
Liquidation Preference Per Share | $25 | $25 | |||||||
Preferred Stock Dividend per Annum | 9.00% | ||||||||
Dividends Paid, Preferred Shares | 1,160,000,000 | 1,370,000,000 | 621,000,000 | ||||||
Payments for Repurchase of Preferred Stock | 3,900,000,000 | 3,200,000,000 | |||||||
Charges related to preferred shares redemption | 809,000,000 | 816,000,000 | |||||||
Stock Redeemed or Called During Period, Shares | 120,000,000 | ||||||||
Percent of Preferred Stock Purchased to Shares Outstanding | 43.50% | ||||||||
Percent Of Liquidation Amount | 108.10% | ||||||||
Series B Preferred Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Liquidation Preference Per Share | $50 | $50 | |||||||
Preferred Stock Dividend per Annum | 4.75% | ||||||||
Dividends Paid, Preferred Shares | 237,000,000 | 238,000,000 | |||||||
Conversion of Stock, Shares Converted | 100,000,000 | ||||||||
Conversion Rate of Preferred Stock to Common | 1.3736 | ||||||||
Shares Issued Upon Conversion of Preferred Stock | 137,000,000 | ||||||||
Common Stock Trading Days | 40 days | ||||||||
Common Stock [Member] | |||||||||
Class of Stock [Line Items] | |||||||||
Common Shares Repurchased During Period | 5,000,000 | ||||||||
Stock Repurchased During Period, Shares | 200,000,000 | ||||||||
Stock Repurchased During Period, Price per Share | $33.69 | $27.50 | |||||||
Purchase and Retirement of Common Stock | 5,500,000,000 | ||||||||
Share Price Prior to Common Stock Repurchase | $25.49 | ||||||||
Stock Repurchased During Period, Equity Impact | 2,000,000 | 5,100,000,000 | |||||||
Premium Paid on Repurchase of Common Stock | $402,000,000 | ||||||||
Shares issued for the settlement of restricted stock and salary stock awards | 1,300,000 | ||||||||
Shares issued for exercised warrants | 400,000 |
Stockholders_Equity_and_Noncon3
Stockholders' Equity and Noncontrolling Interests Warrants (Details) (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2009 |
Class of Warrant or Right [Line Items] | |||
Warrant, Outstanding | 165 | 293 | |
MLC Warrants [Member] | |||
Class of Warrant or Right [Line Items] | |||
Number Of Traunches of Warrants Issued | 2 | ||
Number of Common Stocks Called by Warrants or Rights | 136 | ||
First Traunche of Warrants [Member] | |||
Class of Warrant or Right [Line Items] | |||
Number of Common Stocks Called by Warrants or Rights | 136 | ||
Warrants Expiration Date | 10-Jul-16 | ||
Exercise Price of Warrants | $10 | ||
Second Traunche of Warrants [Member] | |||
Class of Warrant or Right [Line Items] | |||
Number of Common Stocks Called by Warrants or Rights | 136 | ||
Warrants Expiration Date | 10-Jul-19 | ||
Exercise Price of Warrants | $18.33 | ||
New VEBA [Member] | |||
Class of Warrant or Right [Line Items] | |||
Number Of Traunches of Warrants Issued | 1 | ||
Number of Common Stocks Called by Warrants or Rights | 46 | ||
Warrants Expiration Date | 31-Dec-15 | ||
Exercise Price of Warrants | $42.31 |
Stockholders_Equity_and_Noncon4
Stockholders' Equity and Noncontrolling Interests Accumulated Other Comprehensive Income (Loss) (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
AOCI, beginning balance | ($3,113) | ||
Other comprehensive income (loss), net of tax | -4,983 | 4,921 | -2,180 |
AOCI, ending balance | -8,073 | -3,113 | |
Foreign Currency Translation Adjustment [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
AOCI, beginning balance | -614 | 101 | 215 |
Other Comprehensive Income (Loss), before Tax | -477 | -722 | -103 |
Tax Expense (Benefit) | -4 | 11 | 0 |
Other comprehensive income (loss), net of tax | -473 | -733 | -103 |
Other Comprehensive (Income) Loss Attributable to Noncontrolling Interests, Net of Tax | 23 | 18 | -11 |
AOCI, ending balance | -1,064 | -614 | 101 |
Unrealized Gain (Loss) on Securities, net [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
AOCI, beginning balance | 2 | 41 | -4 |
Other Comprehensive Income (Loss), before Reclassification Adjustment, before Tax | -2 | 133 | -140 |
Tax expense (benefit), before reclassification adjustment | -1 | -6 | 22 |
Other Comprehensive Income (Loss), before Reclassification Adjustment, Net of Tax | -1 | 139 | -162 |
Reclassification Adjustment, before Tax | -7 | -185 | 202 |
Tax expense (benefit), Reclassification Adjustment | -3 | -7 | -5 |
Reclassification adjustment, net of tax | -4 | -178 | 207 |
Other comprehensive income (loss), net of tax | -5 | -39 | 45 |
AOCI, ending balance | -3 | 2 | 41 |
Defined Benefit Plans, Net [Member] | |||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||
AOCI, beginning balance | -2,501 | -8,194 | -6,074 |
Other comprehensive income (loss) before reclassification adjustment - prior service cost or credit, before tax | -20 | 6 | -53 |
Other comprehensive income (loss) before reclassification adjustment - actuarial gains or losses, before tax | -6,457 | 8,673 | -3,180 |
Tax expense (benefit), before reclassification adjustment | -1,854 | 3,087 | -1,021 |
Other Comprehensive Income (Loss), before Reclassification Adjustment, Net of Tax | -4,623 | 5,592 | -2,212 |
Reclassification adjustment - prior service cost or credit, before tax | 22 | -128 | -125 |
Reclassification adjustment - actuarial gains or losses, before tax | 76 | 178 | 229 |
Tax expense (benefit), Reclassification Adjustment | -20 | -51 | 12 |
Reclassification adjustment, net of tax | 118 | 101 | 92 |
Other comprehensive income (loss), net of tax | -4,505 | 5,693 | -2,120 |
AOCI, ending balance | ($7,006) | ($2,501) | ($8,194) |
Earnings_Per_Share_Details
Earnings Per Share (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Basic Earnings per Common Share | |||||||||||
Net income (loss) attributable to stockholders | $1,987 | $1,471 | $278 | $213 | $1,040 | $1,717 | $1,414 | $1,175 | $3,949 | $5,346 | $6,188 |
Less: cumulative dividends on preferred stock and charge related to redemption and purchase of preferred stock | -1,145 | -1,576 | -859 | ||||||||
Net income (loss) attributable to common stockholders | 2,804 | 3,770 | 4,859 | ||||||||
Weighted-average common shares outstanding - basic | 1,605 | 1,393 | 1,566 | ||||||||
Basic earnings per common share | $0.69 | $0.86 | $0.12 | $0.08 | $0.64 | $0.50 | $0.87 | $0.63 | $1.75 | $2.71 | $3.10 |
Earnings Per Share, Diluted [Abstract] | |||||||||||
Net income (loss) attributable to stockholders | 1,987 | 1,471 | 278 | 213 | 1,040 | 1,717 | 1,414 | 1,175 | 3,949 | 5,346 | 6,188 |
Less: cumulative dividends on preferred stock and charge related to redemption and purchase of preferred stock | -1,145 | -1,576 | -859 | ||||||||
Less: earnings adjustment for dilutive stock compensation rights | -18 | ||||||||||
Net income (loss) attibutable to common stockholders | 2,786 | 3,988 | 4,887 | ||||||||
Diluted Earnings per Common Share | $0.66 | $0.81 | $0.11 | $0.06 | $0.57 | $0.45 | $0.75 | $0.58 | $1.65 | $2.38 | $2.92 |
Weighted Average Common Shares Outstanding - Diluted [Abstract] | |||||||||||
Weighted-average common shares outstanding - basic | 1,605 | 1,393 | 1,566 | ||||||||
Dilutive effect of warrants and RSUs | 82 | 149 | 109 | ||||||||
Weighted-average common shares outstanding - diluted | 1,687 | 1,676 | 1,675 | ||||||||
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract] | |||||||||||
Lower share price boundary for two class method | $33 | $33 | |||||||||
Higher share price boundary for two class method | $39.60 | $39.60 | |||||||||
Warrants excluded from computation of diluted EPS (shares) | 46 | 46 | 46 | ||||||||
Series A Preferred Stock [Member] | |||||||||||
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract] | |||||||||||
Earned But Undeclared Dividends | 15 | 26 | |||||||||
Series B Preferred Stock [Member] | |||||||||||
Basic Earnings per Common Share | |||||||||||
Less: undistributed earnings allocated to Series B preferred stock participating security | 0 | -470 | |||||||||
Earnings Per Share, Diluted [Abstract] | |||||||||||
Add: preferred dividends to holders of Series B Preferred Stock | 218 | 0 | |||||||||
Less: undistributed earnings allocated to Series B Preferred Stock participating security | 0 | -442 | |||||||||
Weighted Average Common Shares Outstanding - Diluted [Abstract] | |||||||||||
Dilutive effect of conversion of Series B Preferred Stock | 134 | 0 | |||||||||
Earnings Per Share, Basic and Diluted, Other Disclosures [Abstract] | |||||||||||
Earned But Undeclared Dividends | $20 | ||||||||||
Assumed change of method impact to earnings per share | $0.13 | ||||||||||
Common stock equivalents not considered outstanding | 152 |
Stock_Incentive_Plans_Details
Stock Incentive Plans (Details) (USD $) | 12 Months Ended | ||
In Millions, except Per Share data, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Stock Incentive Plans Narratives [Abstract] | |||
Aggregate Number of Shares Authorized Under LTIP | 60 | ||
Share-based Compensation Expense | $245 | $311 | $302 |
Income Tax Benefit | 81 | 100 | 100 |
Unrecognized Compensation Expense for Nonvested Equity Awards | 247 | ||
Weighted-average period for total unrecognized compensation expense for nonvested equity awards | 1 year 6 months | ||
Restricted Stock Units (RSUs) [Member] | |||
Stock Incentive Plans Narratives [Abstract] | |||
RSUs Settled with Cash Payments | 2.4 | 3.1 | 1.6 |
Cash Used to Settle RSUs | 85 | 94 | 36 |
RSU and PSU Shares [Abstract] | |||
Granted | 8 | 7 | 7 |
Performance Shares Units (PSUs) [Member] | |||
RSU and PSU Shares [Abstract] | |||
Granted | 4 | ||
RSUs and PSUs [Member] | |||
Stock Incentive Plans Narratives [Abstract] | |||
Fair Value of Vested RSUs and PSUs | $221 | $342 | $141 |
RSU and PSU Shares [Abstract] | |||
Outstanding, Beginning of Period | 18.6 | ||
Granted | 12.1 | ||
Settled | -9.3 | ||
Forfeited or expired | -1.5 | ||
Outstanding, End of Period | 19.9 | 18.6 | |
Unvested and Expected to Vest | 12.7 | ||
Vested and Payable | 6.7 | ||
RSU and PSU Weighted Average Grant Date Fair Value (Per Share) [Roll Forward] | |||
Weighted Average Grant Date Fair Value, Outstanding, Beginning of Period | $27.76 | ||
Weighted Average Grant Date Fair Value, Granted | $35.31 | $29.05 | $25.10 |
Weighted Average Grant Date Fair Value, Settled | $27.85 | ||
Weighted Average Grant Date Fair Value, Forfeited or Expired | $30.39 | ||
Weighted Average Grant Date Fair Value, Outstanding, End of Period | $32.11 | $27.76 | |
Weighted-average grant date fair value unvested and expected to vest | $32.91 | ||
Weighted Average Grant Date Fair Value Vested and Payable | $30.49 | ||
Remaining Contractual Term [Abstract] | |||
Weighted Average Remaining Contractual Terms, Outstanding | 1 year 4 months | 1 year 2 months | |
Weighted Average Remaining Contractual Terms Unvested and Expected to Vest | 1 year 6 months |
Supplementary_Quarterly_Financ2
Supplementary Quarterly Financial Information (Unaudited) (Details) (USD $) | 1 Months Ended | 3 Months Ended | 12 Months Ended | 1 Months Ended | 6 Months Ended | 3 Months Ended | |||||||||
In Millions, except Per Share data, unless otherwise specified | Nov. 30, 2013 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2012 |
Total net sales and revenue | $39,617 | $39,255 | $39,649 | $37,408 | $40,485 | $38,983 | $39,075 | $36,884 | $155,929 | $155,427 | $152,256 | ||||
Net income | 2,009 | 1,442 | 287 | 280 | 1,053 | 1,705 | 1,388 | 1,185 | 4,018 | 5,331 | 6,136 | ||||
Net income (loss) attributable to stockholders | 1,987 | 1,471 | 278 | 213 | 1,040 | 1,717 | 1,414 | 1,175 | 3,949 | 5,346 | 6,188 | ||||
Basic earnings per common share | $0.69 | $0.86 | $0.12 | $0.08 | $0.64 | $0.50 | $0.87 | $0.63 | $1.75 | $2.71 | $3.10 | ||||
Diluted earnings per common share | $0.66 | $0.81 | $0.11 | $0.06 | $0.57 | $0.45 | $0.75 | $0.58 | $1.65 | $2.38 | $2.92 | ||||
(Gains) losses on extinguishment of debt | -202 | 212 | 250 | ||||||||||||
Charges related to our plans to cease mainstream distribution of Chevrolet brand in Europe | 154,399 | 150,296 | 182,619 | ||||||||||||
Goodwill impairment charges | 120 | 541 | 27,145 | ||||||||||||
Income Tax Settlement | -473 | ||||||||||||||
Ally Financial [Member] | |||||||||||||||
Cost-method Investments, Realized Gains | 483 | ||||||||||||||
Ignition Switch Recall Compensation Program [Member] | |||||||||||||||
Charge related to ignition switch recall compensation program | 400 | ||||||||||||||
Corporate, Non-Segment [Member] | |||||||||||||||
Income Tax Settlement | 473 | ||||||||||||||
Corporate, Non-Segment [Member] | Ally Financial [Member] | |||||||||||||||
Cost-method Investments, Realized Gains | 483 | ||||||||||||||
Corporate, Non-Segment [Member] | Ignition Switch Recall Compensation Program [Member] | |||||||||||||||
Charge related to ignition switch recall compensation program | 400 | ||||||||||||||
GMIO [Member] | |||||||||||||||
Goodwill impairment charges | 481 | ||||||||||||||
GMIO [Member] | Thailand [Member] | |||||||||||||||
Tangible Asset Impairment Charges | 158 | ||||||||||||||
GMIO [Member] | Withdrawal of the Chevrolet Brand from Europe [Member] | |||||||||||||||
Charges related to our plans to cease mainstream distribution of Chevrolet brand in Europe | 745 | ||||||||||||||
GMIO [Member] | GM Korea [Member] | |||||||||||||||
(Gains) losses on extinguishment of debt | -240 | ||||||||||||||
Gain Related to Litigation Settlement | 846 | ||||||||||||||
GMIO [Member] | Holden and GM India [Member] | |||||||||||||||
Asset Impairment Charges | 805 | ||||||||||||||
GMSA [Member] | BRAZIL | |||||||||||||||
(Gains) losses on extinguishment of debt | 207 | ||||||||||||||
GMSA [Member] | VENEZUELA | |||||||||||||||
Venezuela Currency Devaluation charges | 419 | 162 | |||||||||||||
GME [Member] | RUSSIAN | |||||||||||||||
Asset Impairment Charges | 194 | ||||||||||||||
GME [Member] | PSA [Member] | |||||||||||||||
Gain on Sale of Investments | 152 | ||||||||||||||
GMNA [Member] | |||||||||||||||
Recall campaign and courtesy transportation charges | 1,100 | 1,300 | |||||||||||||
GMNA [Member] | Warranty Obligations [Member] | |||||||||||||||
Recall campaigns catch-up adjustment | 874 | 200 | |||||||||||||
Automotive [Member] | |||||||||||||||
Automotive gross margin | 4,266 | 3,945 | 2,611 | 2,188 | 4,070 | 4,954 | 4,416 | 3,727 | |||||||
(Gains) losses on extinguishment of debt | -202 | 212 | 250 | ||||||||||||
Goodwill impairment charges | 120 | 541 | |||||||||||||
Automotive [Member] | GMIO [Member] | |||||||||||||||
Goodwill impairment charges | 541 | 156 | |||||||||||||
Automotive [Member] | GMSA [Member] | |||||||||||||||
Goodwill impairment charges | 120 | ||||||||||||||
Automotive [Member] | GME [Member] | |||||||||||||||
Goodwill impairment charges | 590 | ||||||||||||||
Automotive [Member] | GMNA [Member] | |||||||||||||||
Goodwill impairment charges | $26,400 |
Segment_Reporting_Summarize_ke
Segment Reporting Summarize key financial information by segment (Details) (USD $) | 3 Months Ended | 12 Months Ended | 6 Months Ended | 3 Months Ended | |||||||||
Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Dec. 31, 2014 | Dec. 31, 2012 | |
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Net sales and revenue | $151,092,000,000 | $152,092,000,000 | $150,295,000,000 | ||||||||||
GM Financial revenue | 4,837,000,000 | 3,335,000,000 | 1,961,000,000 | ||||||||||
Total | 39,617,000,000 | 39,255,000,000 | 39,649,000,000 | 37,408,000,000 | 40,485,000,000 | 38,983,000,000 | 39,075,000,000 | 36,884,000,000 | 155,929,000,000 | 155,427,000,000 | 152,256,000,000 | ||
Income (loss) before interest and taxes adjusted | 6,494,000,000 | 8,578,000,000 | 7,859,000,000 | ||||||||||
Adjustments | -2,327,000,000 | -805,000,000 | -36,106,000,000 | ||||||||||
Interest Income | 211,000,000 | 246,000,000 | 343,000,000 | ||||||||||
Automotive interest expense | -1,829,000,000 | -1,049,000,000 | -772,000,000 | ||||||||||
Gain (loss) on extinguishment of debt | 202,000,000 | -212,000,000 | -250,000,000 | ||||||||||
Net Income (Loss) Attributable to Noncontrolling Interest | 69,000,000 | -15,000,000 | -52,000,000 | ||||||||||
Income (loss) before income taxes | 4,246,000,000 | 7,458,000,000 | -28,695,000,000 | ||||||||||
Equity in net assets of nonconsolidated affiliates | 8,350,000,000 | 8,094,000,000 | 8,350,000,000 | 8,094,000,000 | 6,883,000,000 | 8,350,000,000 | 6,883,000,000 | ||||||
Total Assets | 177,677,000,000 | 166,344,000,000 | 177,677,000,000 | 166,344,000,000 | 149,422,000,000 | 177,677,000,000 | 149,422,000,000 | ||||||
Expenditures for property | 7,091,000,000 | 7,565,000,000 | 8,068,000,000 | ||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | 7,118,000,000 | 7,500,000,000 | 11,617,000,000 | ||||||||||
Equity income (loss) | 2,094,000,000 | 1,810,000,000 | 1,562,000,000 | ||||||||||
Valuation Allowance against deferred tax assets | -36,364,000,000 | ||||||||||||
Goodwill, Impairment Loss | 120,000,000 | 541,000,000 | 27,145,000,000 | ||||||||||
Intangible Assets Impairment Charges | 16,000,000 | 523,000,000 | 1,755,000,000 | ||||||||||
Valuation Allowance Charge (Release) | -36,500,000,000 | ||||||||||||
New Valuation Allowance | 100,000,000 | ||||||||||||
Property, Plant and Equipment [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Tangible Asset Impairment Charges | 709,000,000 | 901,000,000 | 3,793,000,000 | ||||||||||
Ignition Switch Recall Compensation Program [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Loss Contingency Accrual Provision | 400,000,000 | ||||||||||||
GMNA [Member] | Warranty Obligations [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Recall campaigns catch-up adjustment | 874,000,000 | 200,000,000 | |||||||||||
GME [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Intangible Assets Impairment Charges | 1,800,000,000 | ||||||||||||
GME [Member] | Property, Plant and Equipment [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Tangible Asset Impairment Charges | 179,000,000 | ||||||||||||
GME [Member] | RUSSIAN | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Asset Impairment Charges | 194,000,000 | ||||||||||||
GMIO [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Goodwill, Impairment Loss | 481,000,000 | ||||||||||||
GMIO [Member] | Property, Plant and Equipment [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Tangible Asset Impairment Charges | 321,000,000 | ||||||||||||
GMIO [Member] | GM Korea [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Gain (loss) on extinguishment of debt | 240,000,000 | ||||||||||||
GMIO [Member] | Withdrawal of the Chevrolet Brand from Europe [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Cost Related to Chevrolet Withdrawal | 636,000,000 | ||||||||||||
GMIO [Member] | Thailand [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Tangible Asset Impairment Charges | 158,000,000 | ||||||||||||
GMSA [Member] | VENEZUELA | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Venezuela Currency Devaluation charges | 419,000,000 | 162,000,000 | |||||||||||
Corporate, Non-Segment [Member] | Ignition Switch Recall Compensation Program [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Loss Contingency Accrual Provision | 400,000,000 | ||||||||||||
Automotive [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Interest Income | 211,000,000 | 246,000,000 | 343,000,000 | ||||||||||
Automotive interest expense | -403,000,000 | -334,000,000 | -489,000,000 | ||||||||||
Gain (loss) on extinguishment of debt | 202,000,000 | -212,000,000 | -250,000,000 | ||||||||||
Goodwill, Impairment Loss | 120,000,000 | 541,000,000 | |||||||||||
Automotive [Member] | GMNA [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Valuation Allowance against deferred tax assets | 36,200,000,000 | ||||||||||||
Goodwill, Impairment Loss | 26,400,000,000 | ||||||||||||
Automotive [Member] | GME [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Goodwill, Impairment Loss | 590,000,000 | ||||||||||||
Automotive [Member] | GMIO [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Goodwill, Impairment Loss | 541,000,000 | 156,000,000 | |||||||||||
Automotive [Member] | GMSA [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Goodwill, Impairment Loss | 120,000,000 | ||||||||||||
Automotive [Member] | Intersegment Eliminations [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Equity in net assets of nonconsolidated affiliates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Total Assets | -29,041,000,000 | -29,252,000,000 | -29,041,000,000 | -29,252,000,000 | -16,927,000,000 | -29,041,000,000 | -16,927,000,000 | ||||||
Expenditures for property | 0 | 5,000,000 | -4,000,000 | ||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | -4,000,000 | -1,000,000 | -1,000,000 | ||||||||||
Equity income (loss) | 0 | 0 | 0 | ||||||||||
Valuation Allowance against deferred tax assets | 0 | ||||||||||||
GM Financial [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Goodwill, Impairment Loss | 0 | 0 | |||||||||||
Group [Member] | Operating Segments [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Other Adjustments | 10,000,000 | ||||||||||||
Insurance Recoveries | 35,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Net sales and revenue | 151,092,000,000 | 152,092,000,000 | 150,295,000,000 | ||||||||||
GM Financial revenue | 0 | 0 | 0 | ||||||||||
Total | 151,092,000,000 | 152,100,000,000 | 150,293,000,000 | ||||||||||
Income (loss) before interest and taxes adjusted | 5,696,000,000 | 7,680,000,000 | 7,116,000,000 | ||||||||||
Adjustments | -2,339,000,000 | -790,000,000 | -36,106,000,000 | ||||||||||
Equity in net assets of nonconsolidated affiliates | 8,350,000,000 | 8,094,000,000 | 8,350,000,000 | 8,094,000,000 | 6,883,000,000 | 8,350,000,000 | 6,883,000,000 | ||||||
Total Assets | 131,734,000,000 | 130,050,000,000 | 131,734,000,000 | 130,050,000,000 | 133,744,000,000 | 131,734,000,000 | 133,744,000,000 | ||||||
Expenditures for property | 7,039,000,000 | 7,549,000,000 | 8,055,000,000 | ||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | 6,200,000,000 | 7,012,000,000 | 11,402,000,000 | ||||||||||
Equity income (loss) | 2,094,000,000 | 1,810,000,000 | 1,562,000,000 | ||||||||||
Valuation Allowance against deferred tax assets | -36,261,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GMNA [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Net sales and revenue | 101,199,000,000 | 95,091,000,000 | 89,912,000,000 | ||||||||||
GM Financial revenue | 0 | 0 | 0 | ||||||||||
Total | 101,199,000,000 | 95,099,000,000 | 89,910,000,000 | ||||||||||
Income (loss) before interest and taxes adjusted | 6,603,000,000 | 7,461,000,000 | 6,470,000,000 | ||||||||||
Adjustments | -975,000,000 | -100,000,000 | -29,052,000,000 | ||||||||||
Equity in net assets of nonconsolidated affiliates | 88,000,000 | 74,000,000 | 88,000,000 | 74,000,000 | 65,000,000 | 88,000,000 | 65,000,000 | ||||||
Total Assets | 92,864,000,000 | 87,978,000,000 | 92,864,000,000 | 87,978,000,000 | 87,100,000,000 | 92,864,000,000 | 87,100,000,000 | ||||||
Expenditures for property | 4,985,000,000 | 5,466,000,000 | 4,766,000,000 | ||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | 4,376,000,000 | 4,216,000,000 | 3,663,000,000 | ||||||||||
Equity income (loss) | 19,000,000 | 15,000,000 | 9,000,000 | ||||||||||
Valuation Allowance against deferred tax assets | 0 | ||||||||||||
Flood Damage Charges Net of Insurance Recoveries | 101,000,000 | ||||||||||||
Goodwill, Impairment Loss | 26,400,000,000 | ||||||||||||
Pension Settlement Charge, pre-tax | 56,000,000 | 2,700,000,000 | |||||||||||
Insurance Recoveries | 9,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GMNA [Member] | Product development agreement with Peugeot S.A. [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Charges related to PSA agreement | 49,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GMNA [Member] | Warranty Obligations [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Recall campaigns catch-up adjustment | 874,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GME [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Net sales and revenue | 22,235,000,000 | 21,962,000,000 | 23,055,000,000 | ||||||||||
GM Financial revenue | 0 | 0 | 0 | ||||||||||
Total | 22,235,000,000 | 21,962,000,000 | 23,055,000,000 | ||||||||||
Income (loss) before interest and taxes adjusted | -1,369,000,000 | -869,000,000 | -1,949,000,000 | ||||||||||
Adjustments | -245,000,000 | 153,000,000 | -6,389,000,000 | ||||||||||
Equity in net assets of nonconsolidated affiliates | 6,000,000 | 95,000,000 | 6,000,000 | 95,000,000 | 159,000,000 | 6,000,000 | 159,000,000 | ||||||
Total Assets | 10,528,000,000 | 11,276,000,000 | 10,528,000,000 | 11,276,000,000 | 10,475,000,000 | 10,528,000,000 | 10,475,000,000 | ||||||
Expenditures for property | 887,000,000 | 818,000,000 | 1,075,000,000 | ||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | 627,000,000 | 426,000,000 | 6,584,000,000 | ||||||||||
Equity income (loss) | -45,000,000 | 34,000,000 | 35,000,000 | ||||||||||
Valuation Allowance against deferred tax assets | 0 | ||||||||||||
Goodwill, Impairment Loss | 590,000,000 | ||||||||||||
Insurance Recoveries | 9,000,000 | ||||||||||||
Intangible Assets Impairment Charges | 1,800,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GME [Member] | GM Strasbourg [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
GMS Asset Impairment Charges | 119,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GME [Member] | Property, Plant and Equipment [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Tangible Asset Impairment Charges | 3,700,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GME [Member] | Equity investment in Peugeot S.A. [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Gain on Sale of Investments | 152,000,000 | ||||||||||||
Impairment Losses, PSA Investments | 220,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GME [Member] | RUSSIAN | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Asset Impairment Charges | 245,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GMIO [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Net sales and revenue | 14,392,000,000 | 18,411,000,000 | 20,588,000,000 | ||||||||||
GM Financial revenue | 0 | 0 | 0 | ||||||||||
Total | 14,392,000,000 | 18,411,000,000 | 20,588,000,000 | ||||||||||
Income (loss) before interest and taxes adjusted | 1,222,000,000 | 1,255,000,000 | 2,538,000,000 | ||||||||||
Adjustments | -180,000,000 | -1,169,000,000 | -290,000,000 | ||||||||||
Equity in net assets of nonconsolidated affiliates | 8,254,000,000 | 7,921,000,000 | 8,254,000,000 | 7,921,000,000 | 6,656,000,000 | 8,254,000,000 | 6,656,000,000 | ||||||
Total Assets | 22,949,000,000 | 22,100,000,000 | 22,949,000,000 | 22,100,000,000 | 24,147,000,000 | 22,949,000,000 | 24,147,000,000 | ||||||
Expenditures for property | 681,000,000 | 724,000,000 | 1,185,000,000 | ||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | 740,000,000 | 1,786,000,000 | 624,000,000 | ||||||||||
Equity income (loss) | 2,120,000,000 | 1,760,000,000 | 1,517,000,000 | ||||||||||
Valuation Allowance against deferred tax assets | 0 | ||||||||||||
Asset Impairment Charges | 774,000,000 | ||||||||||||
Goodwill Impairment Charges, Net of Noncontrolling Interest | 442,000,000 | 132,000,000 | |||||||||||
Insurance Recoveries | 110,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GMIO [Member] | GM Korea [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Loss (gain) related to preferred shares redemption | -67,000,000 | -68,000,000 | |||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GMIO [Member] | Withdrawal of the Chevrolet Brand from Europe [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Cost Related to Chevrolet Withdrawal | 621,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GMIO [Member] | Korea Wage Litigation [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Loss Contingency Accrual Provision | 336,000,000 | ||||||||||||
GM Korea Wage Litigation Accrual Adjustment | 577,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GMIO [Member] | Thailand [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Tangible Asset Impairment Charges | 158,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GMSA [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Net sales and revenue | 13,115,000,000 | 16,478,000,000 | 16,700,000,000 | ||||||||||
GM Financial revenue | 0 | 0 | 0 | ||||||||||
Total | 13,115,000,000 | 16,478,000,000 | 16,700,000,000 | ||||||||||
Income (loss) before interest and taxes adjusted | -180,000,000 | 327,000,000 | 457,000,000 | ||||||||||
Adjustments | -539,000,000 | -157,000,000 | 27,000,000 | ||||||||||
Equity in net assets of nonconsolidated affiliates | 2,000,000 | 4,000,000 | 2,000,000 | 4,000,000 | 3,000,000 | 2,000,000 | 3,000,000 | ||||||
Total Assets | 10,066,000,000 | 11,488,000,000 | 10,066,000,000 | 11,488,000,000 | 11,958,000,000 | 10,066,000,000 | 11,958,000,000 | ||||||
Expenditures for property | 359,000,000 | 444,000,000 | 956,000,000 | ||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | 386,000,000 | 522,000,000 | 483,000,000 | ||||||||||
Equity income (loss) | 0 | 1,000,000 | 1,000,000 | ||||||||||
Valuation Allowance against deferred tax assets | 0 | ||||||||||||
Goodwill, Impairment Loss | 120,000,000 | ||||||||||||
Insurance Recoveries | 27,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Operating Segments [Member] | GMSA [Member] | VENEZUELA | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Venezuela Currency Devaluation charges | 419,000,000 | 162,000,000 | |||||||||||
Group [Member] | Automotive [Member] | Intersegment Revenue [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Total | 8,000,000 | -2,000,000 | |||||||||||
Group [Member] | Automotive [Member] | Intersegment Revenue [Member] | GMNA [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Total | 8,000,000 | -2,000,000 | |||||||||||
Group [Member] | Automotive [Member] | Intersegment Revenue [Member] | GME [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Total | 0 | 0 | |||||||||||
Group [Member] | Automotive [Member] | Intersegment Revenue [Member] | GMIO [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Total | 0 | 0 | |||||||||||
Group [Member] | Automotive [Member] | Intersegment Revenue [Member] | GMSA [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Total | 0 | 0 | |||||||||||
Group [Member] | Automotive [Member] | Corporate, Non-Segment [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Net sales and revenue | 151,000,000 | 150,000,000 | 40,000,000 | ||||||||||
GM Financial revenue | 0 | 0 | 0 | ||||||||||
Total | 151,000,000 | 150,000,000 | 40,000,000 | ||||||||||
Income (loss) before interest and taxes adjusted | -580,000,000 | -494,000,000 | -400,000,000 | ||||||||||
Adjustments | -400,000,000 | 483,000,000 | -402,000,000 | ||||||||||
Equity in net assets of nonconsolidated affiliates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Total Assets | 24,368,000,000 | 26,460,000,000 | 24,368,000,000 | 26,460,000,000 | 16,991,000,000 | 24,368,000,000 | 16,991,000,000 | ||||||
Expenditures for property | 127,000,000 | 92,000,000 | 77,000,000 | ||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | 75,000,000 | 63,000,000 | 49,000,000 | ||||||||||
Equity income (loss) | 0 | 0 | 0 | ||||||||||
Valuation Allowance against deferred tax assets | -36,261,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Corporate, Non-Segment [Member] | Common Stock [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Premium Paid on Repurchase of Common Stock | 402,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Corporate, Non-Segment [Member] | Ally Financial [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Gain on Sale of Ally Financial Common Stock | 483,000,000 | ||||||||||||
Group [Member] | Automotive [Member] | Corporate, Non-Segment [Member] | Ignition Switch Recall Compensation Program [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Loss Contingency Accrual Provision | 400,000,000 | ||||||||||||
Group [Member] | GM Financial [Member] | Operating Segments [Member] | GM Financial Segment [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
GM Financial revenue | 4,854,000,000 | 3,344,000,000 | 1,961,000,000 | ||||||||||
Total | 4,854,000,000 | 3,344,000,000 | 1,961,000,000 | ||||||||||
Income (loss) before interest and taxes adjusted | 803,000,000 | 898,000,000 | 744,000,000 | ||||||||||
Adjustments | 12,000,000 | -15,000,000 | 0 | ||||||||||
Equity in net assets of nonconsolidated affiliates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Total Assets | 47,861,000,000 | 38,084,000,000 | 47,861,000,000 | 38,084,000,000 | 16,368,000,000 | 47,861,000,000 | 16,368,000,000 | ||||||
Expenditures for property | 52,000,000 | 16,000,000 | 13,000,000 | ||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | 918,000,000 | 498,000,000 | 225,000,000 | ||||||||||
Equity income (loss) | 0 | 0 | 0 | ||||||||||
Valuation Allowance against deferred tax assets | -103,000,000 | ||||||||||||
Group [Member] | GM Financial [Member] | Operating Segments [Member] | GM Financial Segment [Member] | Withdrawal of the Chevrolet Brand from Europe [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Cost Related to Chevrolet Withdrawal | 15,000,000 | ||||||||||||
Group [Member] | GM Financial [Member] | Intersegment Revenue [Member] | GM Financial Segment [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Total | 0 | 0 | |||||||||||
InterGroup Elimination [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Net sales and revenue | 0 | 0 | 0 | ||||||||||
GM Financial revenue | -17,000,000 | -9,000,000 | 0 | ||||||||||
Total | -17,000,000 | -17,000,000 | 2,000,000 | ||||||||||
Income (loss) before interest and taxes adjusted | -5,000,000 | 0 | -1,000,000 | ||||||||||
Adjustments | 0 | 0 | 0 | ||||||||||
Equity in net assets of nonconsolidated affiliates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | ||||||
Total Assets | -1,918,000,000 | -1,790,000,000 | -1,918,000,000 | -1,790,000,000 | -690,000,000 | -1,918,000,000 | -690,000,000 | ||||||
Expenditures for property | 0 | 0 | 0 | ||||||||||
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets | 0 | -10,000,000 | -10,000,000 | ||||||||||
Equity income (loss) | 0 | 0 | 0 | ||||||||||
Valuation Allowance against deferred tax assets | 0 | ||||||||||||
InterGroup Elimination [Member] | Intersegment Eliminations [Member] | |||||||||||||
Revenue and others for Reportable Segment [Abstract] | |||||||||||||
Total | ($8,000,000) | $2,000,000 |
Segment_Reporting_Revenues_and
Segment Reporting Revenues and long-lived assets by geographic region (Details) (USD $) | 3 Months Ended | 12 Months Ended | |||||||||
In Millions, unless otherwise specified | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2013 | Sep. 30, 2013 | Jun. 30, 2013 | Mar. 31, 2013 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales and revenue | $151,092 | $152,092 | $150,295 | ||||||||
GM Financial revenue | 4,837 | 3,335 | 1,961 | ||||||||
Total net sales and revenue | 39,617 | 39,255 | 39,649 | 37,408 | 40,485 | 38,983 | 39,075 | 36,884 | 155,929 | 155,427 | 152,256 |
Long-Lived Assets | 38,400 | 31,648 | 38,400 | 31,648 | 27,647 | ||||||
UNITED STATES | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales and revenue | 93,559 | 88,784 | 85,105 | ||||||||
GM Financial revenue | 2,549 | 2,233 | 1,832 | ||||||||
Non-U.S. | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Net sales and revenue | 57,533 | 63,308 | 65,190 | ||||||||
GM Financial revenue | 2,288 | 1,102 | 129 | ||||||||
Maximum percent of total net sales and revenues in an individual country | 10.00% | 10.00% | 10.00% | ||||||||
Maximum percent of total long-lived assets in an individual country | 10.00% | 10.00% | 10.00% | 10.00% | 10.00% | ||||||
Automotive [Member] | UNITED STATES | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Long-Lived Assets | 18,813 | 15,844 | 18,813 | 15,844 | 13,520 | ||||||
Automotive [Member] | Non-U.S. | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Long-Lived Assets | 12,355 | 12,289 | 12,355 | 12,289 | 12,425 | ||||||
GM Financial [Member] | UNITED STATES | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Long-Lived Assets | 5,477 | 2,472 | 5,477 | 2,472 | 1,112 | ||||||
GM Financial [Member] | Non-U.S. | |||||||||||
Revenues from External Customers and Long-Lived Assets [Line Items] | |||||||||||
Long-Lived Assets | $1,755 | $1,043 | $1,755 | $1,043 | $590 |
Supplemental_Information_for_t2
Supplemental Information for the Consolidated Statements of Cash Flows (Details) (USD $) | 12 Months Ended | ||
In Millions, unless otherwise specified | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 |
Accounts Receivable | ($1,248) | $8 | ($460) |
Purchases of Wholesale Receivables, net | -2,000 | 0 | 0 |
Inventories | -309 | 59 | -326 |
Automotive Equipment on Operating Leases | -1,949 | -968 | 370 |
Change in Other Assets | -213 | -563 | -312 |
Accounts Payable | 19 | -485 | 162 |
Income Taxes Payable | -145 | -161 | 155 |
Accrued Liabilities and Other Liabilities | 6,089 | 784 | 1,041 |
Total | 244 | -1,326 | 630 |
Cash Paid for Income Taxes and Interest | |||
Cash Paid for Income Taxes | 947 | 727 | 575 |
Cash Paid for Interest (net of amounts capitalized) | 1,421 | 1,059 | 633 |
Automotive [Member] | |||
Cash Paid for Income Taxes and Interest | |||
Cash Paid for Interest (net of amounts capitalized) | 301 | 299 | 335 |
GM Financial [Member] | |||
Cash Paid for Income Taxes and Interest | |||
Cash Paid for Interest (net of amounts capitalized) | $1,120 | $760 | $298 |