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 Corporate Average Fuel Economy 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. Fleet sales are completed through the network of dealers and in some cases directly with fleet customers. Retail and fleet customers can obtain a wide range of after-sale 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 have equity ownership stakes directly or indirectly in entities through various regional subsidiaries, primarily in Asia. These companies design, manufacture and market vehicles under the 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 Three Months Ended June 30, 2015
	GMNA			GME			GMIO			GMSA			Corporate			Eliminations			Total Automotive			GM Financial		Eliminations			Total
Net sales and revenue	$	26,481		$	4,987		$	3,053		$	2,109		$	40					$	36,670		$	1,515	$	(5	)	$	38,180
Income (loss) before automotive interest and taxes-adjusted	$	2,780		$	(45	)	$	349		$	(144	)	$	(292	)				$	2,648		$	225	$	(2	)	$	2,871
Adjustments(a)	$	(3	)	$	(17	)	$	(295	)	$	(720	)	$	(75	)				$	(1,110	)	$	—	$	—		(1,110		)
Automotive interest income																											41
Automotive interest expense																											(108		)
Net income attributable to noncontrolling interests																											23
Income before income taxes																											1,717
Income tax expense																											(577		)
Net (income) attributable to noncontrolling interests																											(23		)
Net income attributable to stockholders																											$	1,117

Total assets	$	89,684		$	11,126		$	21,081		$	8,269		$	21,874		$	(19,836	)	$	132,198		$	55,442	$	(1,828	)	$	185,812
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets	$	1,033		$	118		$	415		$	107		$	4		$	(1	)	$	1,676		$	494	$	—		$	2,170

__________

(a)

Consists of costs related to the change in our business model in Russia of $17 million in GME; asset impairment charges of $297 million related to our Thailand subsidiaries in GMIO; Venezuela currency devaluation of $604 million and asset impairment charges of $116 million related to our Venezuela subsidiaries in GMSA; a charge related to the ignition switch recall compensation program of $75 million in Corporate; and other of $1 million.



	At and For the Three Months Ended June 30, 2014
	GMNA			GME			GMIO			GMSA			Corporate			Eliminations			Total Automotive			GM Financial		Eliminations			Total
Net sales and revenue	$	25,671		$	5,974		$	3,602		$	3,177		$	38					$	38,462		$	1,191	$	(4	)	$	39,649
Income (loss) before automotive interest and taxes-adjusted	$	1,385		$	(305	)	$	315		$	(81	)	$	(220	)				$	1,094		$	258	$	(1	)	$	1,351
Adjustments(a)	$	(874	)	$	—		$	(12	)	$	—		$	(400	)				$	(1,286	)	$	7	$	—		(1,279		)
Automotive interest income																											52
Automotive interest expense																											(100		)
Net income attributable to noncontrolling interests																											9
Income before income taxes																											33
Income tax benefit																											254
Net (income) attributable to noncontrolling interests																											(9		)
Net income attributable to stockholders																											$	278

Total assets	$	97,777		$	12,289		$	22,990		$	11,068		$	28,458		$	(34,195	)	$	138,387		$	42,537	$	(1,826	)	$	179,098
Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets	$	1,221		$	115		$	162		$	104		$	19		$	(1	)	$	1,620		$	199	$	—		$	1,819

__________


(a)	Consists of a catch-up adjustment related to the change in estimate for recall campaigns of $874 million in GMNA; a charge related to the ignition switch recall compensation program of $400 million in Corporate; and other of $5 million.



	For the Six Months Ended June 30, 2015
	GMNA		GME			GMIO			GMSA			Corporate			Eliminations			Total Automotive			GM Financial		Eliminations			Total
Net sales and revenue	$	51,157	$	9,436		$	6,165		$	4,201		$	75					$	71,034		$	2,869	$	(11	)	$	73,892
Income (loss) before automotive interest and taxes-adjusted	$	4,962	$	(284	)	$	720		$	(358	)	$	(521	)				$	4,519		$	439	$	(5	)	$	4,953
Adjustments(a)	$	29	$	(354	)	$	(387	)	$	(720	)	$	(225	)				$	(1,657	)	$	—	$	—		(1,657		)
Automotive interest income																										90
Automotive interest expense																										(218		)
Net (loss) attributable to noncontrolling interests																										(14		)
Income before income taxes																										3,154
Income tax expense																										(1,106		)
Net loss attributable to noncontrolling interests																										14
Net income attributable to stockholders																										$	2,062

Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets	$	2,134	$	239		$	526		$	183		$	8		$	(2	)	$	3,088		$	839	$	—		$	3,927

__________

(a)

Consists of net insurance recoveries related to flood damage of $29 million in GMNA; costs related to the change in our business model in Russia of $354 million in GME and $89 million in GMIO, which is net of noncontrolling interests; asset impairment charges of $297 million related to our Thailand subsidiaries in GMIO; Venezuela currency devaluation of $604 million and asset impairment charges of $116 million related to our Venezuela subsidiaries in GMSA; charges related to the ignition switch recall compensation program of $225 million in Corporate; and other of $1 million.



	For the Six Months Ended June 30, 2014
	GMNA			GME			GMIO			GMSA			Corporate			Eliminations			Total Automotive			GM Financial		Eliminations			Total
Net sales and revenue	$	50,075		$	11,594		$	6,832		$	6,202		$	74					$	74,777		$	2,288	$	(8	)	$	77,057
Income (loss) before automotive interest and taxes-adjusted	$	1,942		$	(589	)	$	567		$	(237	)	$	(343	)				$	1,340		$	479	$	(2	)	$	1,817
Adjustments(a)	$	(874	)	$	—		$	(21	)	$	(419	)	$	(400	)				$	(1,714	)	$	8	$	—		(1,706		)
Automotive interest income																											105
Automotive interest expense																											(203		)
Net income attributable to noncontrolling interests																											76
Income before income taxes																											89
Income tax benefit																											478
Net (income) attributable to noncontrolling interests																											(76		)
Net income attributable to stockholders																											$	491

Depreciation, amortization and impairment of long-lived assets and finite-lived intangible assets	$	2,313		$	224		$	276		$	205		$	35		$	(2	)	$	3,051		$	375	$	—		$	3,426

__________


(a)	Consists of a catch-up adjustment related to the change in estimate for recall campaigns of $874 million in GMNA; Venezuela currency devaluation of $419 million in GMSA; a charge related to the ignition switch recall compensation program of $400 million in Corporate; and other of $13 million.