v3.25.4
Segment Reporting
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Segment Reporting Segment Reporting
Our chief operating decision-maker, who is Chair and Chief Executive Officer, analyzes the results of our business through the following reportable segments: GMNA, GMI, and GM Financial. Our chief operating decision-maker evaluates the operating results and performance of our Automotive operations through EBIT-adjusted, which is presented net of noncontrolling interests. Our chief operating decision-maker evaluates GM Financial through EBT-adjusted because interest income and interest expense are an integral part of its operational and financial performance. These financial metrics are used to view operating trends, perform analytical comparisons and benchmark performance between periods and among geographic regions, and to monitor budget-to-actual variances on a monthly basis. To manage operations and make decisions regarding resource allocations, our chief operating decision-maker is regularly provided and reviews expense information at a consolidated, functional level for our global purchasing and supply chain, manufacturing, and engineering functions. Warranty and quality metrics are also viewed on a consolidated basis. Currently, a focus is being placed on driving an efficient, consolidated fixed cost structure and managing overall global headcount. Vehicle-level profitability metrics are also reviewed during the planning stage and throughout a program's life cycle on a forecasted basis, and not on an actual basis. Each segment has a manager responsible for executing our strategic initiatives.
Substantially all of the trucks, crossovers, cars, and automobile 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, trucks, crossovers, and cars are also sold to fleet customers, including daily rental car companies, commercial fleet customers, leasing companies, and governments. Fleet sales are completed through the dealer network 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 meets the demands of customers in North America and GMI primarily meets the demands of customers outside North America with vehicles developed, manufactured, and/or marketed under the Buick, Cadillac, Chevrolet, and GMC brands. We also have equity ownership stakes in entities that meet the demands of customers in other countries, primarily China, with vehicles developed, manufactured, and/or marketed under the Baojun, Buick, Cadillac, Chevrolet, and Wuling brands. Our Cruise business was pursuing the development and commercialization of AV technology until, in December 2024, we announced plans to refocus our autonomous driving strategy on personal vehicles and no longer fund Cruise's robotaxi development work. Cruise activity includes ongoing costs to be incurred related to the wind down of the robotaxi business. We have combined the GM and Cruise ongoing personal autonomous technical efforts in our GMNA segment. We provide automotive financing services through our GM Financial segment.

Our automotive interest income and interest expense, corporate expenditures, legacy costs from the Opel/Vauxhall Business (primarily pension costs), and certain revenues and expenses that are not part of a reportable segment are recorded centrally in Corporate. Corporate assets primarily consist of cash and cash equivalents, marketable debt securities, and intersegment balances. All intersegment balances and transactions have been eliminated in consolidation.

The following tables summarize key financial information by segment:
At and For the Year Ended December 31, 2025
GMNAGMICruiseGM FinancialTotal Reportable Segments
Net sales and revenue$154,317 $13,427 $1 $17,060 $184,805 
Segment expenses and other items(a)(143,866)(12,690)(274)(14,258)
Earnings (loss) before interest and taxes-adjusted$10,452 $737 $(273)$2,802 $13,718 
Adjustments(b)(8,709)(918)— — (9,627)
Corporate(1,180)
Eliminations(4)
Automotive interest income854 
Automotive interest expense(727)
Net income (loss) attributable to noncontrolling interests83 
Income (loss) before income taxes$3,117 
GMNAGMICruiseGM FinancialTotal Reportable SegmentsCorporateEliminationsTotal
Net sales and revenue$154,317 $13,427 $1 $17,060 $184,805 $227 $(13)$185,019 
Equity in net assets of nonconsolidated affiliates$3,187 $1,073 $— $1,117 $5,377 $304 $— $5,681 
Goodwill and intangibles$2,371 $647 $— $1,348 $4,366 $— $— $4,366 
Total assets$162,079 $22,924 $288 $138,820 $324,110 $30,593 $(73,419)$281,284 
Expenditures for property$8,687 $457 $10 $51 $9,206 $97 $— $9,303 
Depreciation and amortization$6,489 $466 $5 $4,976 $11,936 $43 $— $11,980 
Impairment charges$2,571 $38 $— $— $2,609 $— $— $2,609 
Equity income (loss)(c)$558 $(306)$— $39 $291 $(108)$— $184 
__________
(a)Segment expenses and other items for GMNA and GMI primarily include material and logistics; manufacturing; equity income (loss); selling, general, and administrative people-related costs; advertising; information technology; engineering; professional services; and policy, campaign, and warranty. GM Financial items primarily consist of GM Financial interest expense; leased vehicle depreciation; people-related costs; provision for loan losses; and gains and losses on termination of leased vehicles. Cruise items primarily consist of ongoing costs incurred related to the wind down of Cruise robotaxi activities.
(b)Consists of charges for our EV strategic realignment, legal matters, and Cruise restructuring activities in GMNA; China restructuring actions in GMNA and GMI; and separation and exit costs in GMI.
(c)Equity loss associated with our Automotive China JVs includes impacts of our portion of restructuring charges. Equity earnings related to Ultium Cells Holdings LLC are presented in Automotive and other cost of sales as this entity is integral to the operations of our business by providing battery cells for our EVs. Refer to Note 8 for additional information.
At and For the Year Ended December 31, 2024
GMNAGMICruiseGM FinancialTotal Reportable Segments
Net sales and revenue$157,509 $13,890 $257 $15,875 $187,532 
Segment expenses and other items(a)(142,981)(13,587)(1,958)(12,911)
Earnings (loss) before interest and taxes-adjusted
$14,528 $303 $(1,701)$2,965 $16,095 
Adjustments(b)(738)(4,262)(1,107)(320)(6,427)
Corporate(1,193)
Eliminations(33)
Automotive interest income967 
Automotive interest expense(846)
Net income (loss) attributable to noncontrolling interests(45)
Income (loss) before income taxes$8,519 
GMNAGMICruiseGM FinancialTotal Reportable SegmentsCorporateEliminationsTotal
Net sales and revenue$157,509 $13,890 $257 $15,875 $187,532 $206 $(296)$187,442 
Equity in net assets of nonconsolidated affiliates$4,447 $1,449 $— $1,206 $7,102 $— $— $7,102 
Goodwill and intangibles$1,966 $676 $570 $1,339 $4,551 $— $— $4,551 
Total assets$165,905 $21,769 $2,948 $139,156 $329,778 $38,817 $(88,835)$279,761 
Expenditures for property$10,266 $415 $7 $24 $10,711 $30 $88 $10,830 
Depreciation and amortization$5,963 $506 $25 $4,883 $11,376 $80 $— $11,456 
Impairment charges$— $— $933 $— $934 $— $— $934 
Equity income (loss)(c)$955 $(4,400)$— $(256)$(3,701)$— $— $(3,701)
__________
(a)Segment expenses and other items for Automotive segments primarily include material and logistics; manufacturing; equity income (loss); selling, general, and administrative people-related costs; advertising; information technology; engineering; professional services; and policy, campaign, and warranty. GM Financial items primarily consist of GM Financial interest expense; leased vehicle depreciation; people-related costs; provision for loan losses; and gains and losses on termination of leased vehicles. Cruise items primarily consist of people-related costs.
(b)Consists of charges related to the Buick dealerships and restructuring actions in GMNA; charges related to manufacturing operations wind down in GMI; China restructuring actions in GMI, GMNA, and GM Financial; and charges related to Cruise restructuring and Cruise realignment.
(c)Equity loss associated with our Automotive China JVs includes impacts of the other-than-temporary impairment and our portion of restructuring charges. Equity earnings related to Ultium Cells Holdings LLC are presented in Automotive and other cost of sales as this entity is integral to the operations of our business by providing battery cells for our EVs. Refer to Note 8 for additional information.
At and For the Year Ended December 31, 2023
GMNAGMICruiseGM FinancialTotal Reportable Segments
Net sales and revenue$141,445 $15,949 $102 $14,225 $171,720 
Segment expenses and other items(a)(129,139)(14,739)(2,797)(11,239)
Earnings (loss) before interest and taxes-adjusted
$12,306 $1,210 $(2,695)$2,985 $13,806 
Adjustments(b)(1,604)217 (478)— (1,865)
Corporate(1,413)
Eliminations(35)
Automotive interest income1,109 
Automotive interest expense(911)
Net income (loss) attributable to noncontrolling interests(287)
Income (loss) before income taxes$10,403 
GMNAGMICruiseGM FinancialTotal Reportable SegmentsCorporateEliminationsTotal
Net sales and revenue$141,445 $15,949 $102 $14,225 $171,720 $273 $(151)$171,842 
Equity in net assets of nonconsolidated affiliates$2,595 $6,348 $— $1,670 $10,613 $— $— $10,613 
Goodwill and intangibles$2,083 $710 $715 $1,354 $4,862 $— $— $4,862 
Total assets$155,908 $26,225 $4,555 $130,780 $317,468 $41,271 $(85,675)$273,064 
Expenditures for property$10,147 $522 $63 $24 $10,757 $15 $198 $10,970 
Depreciation and amortization$6,146 $589 $38 $4,944 $11,717 $21 $— $11,737 
Impairment charges$— $— $209 $— $209 $— $— $209 
Equity income (loss)(c)$196 $440 $— $138 $773 $— $— $773 
__________
(a)Segment expenses and other items for Automotive segments primarily include material and logistics; manufacturing; equity income (loss); selling, general, and administrative people-related costs; advertising; information technology; engineering; professional services; and policy, campaign, and warranty. GM Financial items primarily consist of GM Financial interest expense; leased vehicle depreciation; people-related costs; provision for loan losses; and gains and losses on termination of leased vehicles. Cruise items primarily consist of people-related costs.
(b)Consists of charges related to the VSP and strategic activities related to Buick dealerships in GMNA; the gain associated with India asset sales and the partial resolution of Korean subcontractor matters in GMI; and charges related to Cruise restructuring.
(c)Equity earnings related to Ultium Cells Holdings LLC are presented in Automotive and other cost of sales as this entity is integral to the operations of our business by providing battery cells for our EVs. Refer to Note 8 for additional information.

Automotive revenue is attributed to geographic areas based on the country of sale. GM Financial revenue is attributed to the geographic area where the financing is originated. The following table summarizes information concerning principal geographic areas:
At and For the Years Ended December 31,
202520242023
Net Sales and RevenueLong-Lived AssetsNet Sales and RevenueLong-Lived AssetsNet Sales and RevenueLong-Lived Assets
Automotive
U.S.$138,108 $37,231 $140,536 $35,986 $127,472 $34,142 
Non-U.S.29,863 14,327 31,070 15,811 30,186 16,054 
GM Financial
U.S.14,577 29,562 13,575 28,129 12,133 27,397 
Non-U.S.2,472 4,250 2,261 3,563 2,051 3,309 
Total consolidated$185,019 $85,369 $187,442 $83,490 $171,842 $80,903 

No individual country other than the U.S. represented more than 10% of our total net sales and revenue or long-lived assets, other than Mexico, whose long-lived assets as a percentage of our total long-lived assets were approximately 11% at December 31, 2025 and approximately 12% at December 31, 2024 and 2023.