Slide 1: General Motors Company Q4 & CY 2010 Results
General Motors Company Q4 & CY 2010 Results February 24, 2011 Exhibit 99.2
Slide 2: Forward Looking Statements
Forward Looking Statements In this presentation and in related comments by our management, our use of the words “expect,” “anticipate,” “possible,” “potential,” “target,” “believe,” “commit,” “intend,” “continue,” “may,” “would,” “could,” “should,” “project,” “projected,” “positioned” or similar exp
Slide 3: Summary of Q4 & CY 2010 Results
Summary of Q4 & CY 2010 Results * EBIT-Adj. includes GM Financial on an Earnings Before Tax (EBT) basis * * Automotive Free Cash Flow Includes $(4.0)B Impact of Voluntary U.S. Pension Contribution Q4 CY GAAP Net Revenue ($B) Operating Income ($B) Net Income Attr. Common Stockholders ($B) EPS – Dilut
Slide 4: Presentation of Results
Presentation of Results • Standardized and consistent approach • Q4 2010 marks first quarter which prior year results are on a equivalent fresh-start accounting basis – Transition quarterly EBIT bridges to year-over-year comparisons • New GM South America segment has been introduced – GMIO prior qua
Slide 5: Net Income Attributable to Common Stockholders
Net Income Attr. Common Stockholders Note: Results may not foot due to rounding Q4 CY Net Income Attr. Common Stockholders ($B) EPS – Diluted ($/Share) Included in Above ($B): - Gain on Extinguishment of VEBA Note - Gain on Sale of Nexteer & Purchase of Strasbourg - Gain on Saab Sale - Loss on Purch
Slide 6: CY Operating Income Walk to EBIT-Adj.
CY Operating Income Walk to EBIT - Adj. Note: EBIT & EBIT-Adj. includes GM Financial on an Earnings Before Tax (EBT) basis Note: Results may not foot due to rounding ($ B) CY Operating Income Equity Income Non-Controlling Interests Non-Operating Income Earnings Before Interest & Taxes (EBIT) Less Ad
Slide 7: CY 2010 EBIT & EBIT-Adj.
CY 2010 EBIT & EBIT- Adj. * GMF at an Earnings Before Tax basis (EBT) ** Included in Earnings Before Interest and Taxes (EBIT) Note: Results may not foot due to rounding GMNA GME GMIO GMSA Corp. / Elims GMF* EBIT Less** Adjustments EBIT - Adj.
Slide 8: Q4 Operating Income Walk to EBIT-Adj.
Q4 Operating Income Walk to EBIT- Adj. Note: EBIT-Adj. includes GM Financial on an Earnings Before Tax (EBT) basis ($ B) Q4 Operating Income Equity Income Non-Controlling Interests Non-Operating Income Earnings Before Interest & Taxes (EBIT) Less Adjustments EBIT- Adj.
Slide 9: Q4 2010 EBIT & EBIT-Adj.
Q4 2010 EBIT & EBIT- Adj. Note: Results may not foot due to rounding * GMF at an Earnings Before Tax basis (EBT) ** Included in Earnings Before Interest and Taxes (EBIT) GMNA GME GMIO GMSA Corp. / Elims GMF* EBIT Less** Adjustments EBIT - Adj.
Slide 10: Global Deliveries
Global Deliveries (000’s) Global Share 11.4% 11.0% 11.6% 11.5% 11.5% GM deliveries & market share include vehicles sold around the world under GM and JV brands, and through GM branded distribution network 1,952 1,999 2,155 2,062 2,173 1,000 1,600 2,200 Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010
Slide 11: GMNA Deliveries
GMNA Deliveries ( 000 ’ s ) GMNA Share 19.2% 17.8% 18.7% 17.7% 18.5% U.S. Share 20.2% 18.4% 19.4% 18.3% 19.1% U.S. 4 Brand Share 18.6% 18.1% 19.3% 18.3% 19.1% Chevy, Buick, GMC, Cadillac Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010
Slide 12: Key GMNA Performance Indicators
Key GMNA Performance Indicators Avg. U.S. Retail Incentive, as % of ATP GM (4-Brand) % GM vs. Ind. (GM % / Ind. %) Share $/Unit U.S. 4-Brand Share U.S. Total Share Avg. GM U.S. Retail Incentive (4-Brands) Note: Incentive & ATP Information Based on J.D. Power and Associates Power Information Network
Slide 13: GMNA Net Revenue and Production
GMNA Net Revenue Production (000 ’ s) U.S. Dealer Inv (000 ’ s) Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010
Slide 14: GMNA Earnings Before Interest & Taxes
GMNA Earnings Before Interest & Taxes Q4 Q1 Q2 Q3 Q4 ( 3.4 )
Slide 15: GMNA EBIT – Q4 2009 vs. Q4 2010
GMNA EBIT – Q4 2009 vs. Q4 2010 Q4 2009 EBIT Q4 2010 EBIT $4.2B Improvement Volume/Mix Price Cost Other
Slide 16: GMNA EBIT – Q3 2010 vs. Q4 2010
GMNA EBIT – Q3 2010 vs. Q4 2010 Q3 2010 EBIT Q4 2010 EBIT $1.3B Reduction Volume/Mix Price Cost Other
Slide 17: GME Deliveries
GME Deliveries (000’s) GME Share 8.2% 8.5% 8.8% 8.9% 9.0% Germany Share 8.8% 8.2% 8.0% 8.5% 9.0% U.K. Share 11.2% 12.0% 13.8% 12.6% 12.4% Chevrolet GME Excl. Chevrolet GME deliveries and market share include unit sales of Chevrolets produced by GMIO and delivered to customers in GME. Revenue and ass
Slide 18: GME Net Revenue and Production
GME Net Revenue Production (000’s) Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010
Slide 19: GME Earnings Before Interest & Taxes
GME Earnings Before Interest & Taxes Q4 Q1 Q2 Q3 Q4
Slide 20: GME EBIT – Q4 2009 vs. Q4 2010
GME EBIT – Q4 2009 vs. Q4 2010 Q4 2009 EBIT Q4 2010 EBIT $0.2B Improvement Volume/Mix Price Cost Other
Slide 21: GMIO Deliveries
GMIO Deliveries (000’s) GMIO Share 8.9% 8.8% 9.0% 8.7% 8.6% China Share 13.2% 13.3% 13.1% 13.6% 11.4% India Share 3.7% 4.2% 4.0% 3.0% 3.5% China GMIO Excl. China Note: Prior results have been adjusted to reflect the breakout of GMSA separately Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010
Slide 22: GMIO Net Revenue and Production
GMIO Net Revenue Production (000’s) Consolidated Joint Venture Total 1,012 Note: Prior results have been adjusted to reflect the breakout of GMSA separately Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010
Slide 23: GMIO Earnings Before Interest & Taxes
GMIO Earnings Before Interest & Taxes Equity Income Note: Prior results have been adjusted to reflect the breakout of GMSA separately Q4 Q1 Q2 Q3 Q4
Slide 24: GMIO EBIT – Q4 2009 vs. Q4 2010
GMIO EBIT – Q4 2009 vs. Q4 2010 Q4 2009 EBIT Q4 2010 EBIT $0.1B Reduction Note: Prior results have been adjusted to reflect the breakout of GMSA separately Volume/Mix Price Cost Other
Slide 25: GMSA Deliveries
GMSA Deliveries (000’s) GMSA Share 19.6% 20.7% 19.5% 19.8% 19.6% Brazil Share 18.7% 19.9% 18.4% 18.3% 18.4% Brazil GMSA Other Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010
Slide 26: GMSA Net Revenue and Production
GMSA Net Revenue Production (000’s) Q4 2009 Q1 2010 Q2 2010 Q3 2010 Q4 2010
Slide 27: GMSA Earnings Before Interest & Taxes
GMSA Earnings Before Interest & Taxes Q4 Q1 Q2 Q3 Q4
Slide 28: GMSA EBIT – Q4 2009 vs. Q4 2010
GMSA EBIT – Q4 2009 vs. Q4 2010 Q4 2009 EBIT Q4 2010 EBIT $0.1B Reduction Volume/Mix Price Cost Other
Slide 29: Automotive Free Cash Flow
Automotive Free Cash Flow Q4 2010 CY 2010 Net Income Attr. Common Stockholders Add-back Non-Controlling Interests & Preferred Dividends Deduct Non-Auto (GM Financial) Automotive Net Income Depreciation / Amortization Working Capital Pension / (OPEB) Expense Net of Cash Payments Voluntary U.S. Pensio
Slide 30: Key Automotive Balance Sheet Items
Key Automotive Balance Sheet Items * Includes Canadian HC Trust Restricted Cash ** Excludes U.S. Non-Qualified plan PBO of $0.9 billion & ~ $2B stock contribution completed 1/13/11 Dec. 31 Dec. 31 Cash & marketable securities * Available Credit Facilities Available Liquidity * Key Obligations: Debt
Slide 31: U.S. Pension Funded Status – CY2010 vs. CY2009
Funded Status 84% Funded Status 89% 12/31/09 Funded Status Service & Interest Cost Asset Returns Discount Rate Cash Contributions 12/31/10 Funded Status U.S. Pension Funded Status – CY2010 vs. CY2009 Note: Funded status excludes U.S. Non-Qualified plan PBO of $0.9 billion & ~ $2B stock contribution
Slide 32: GM Financial – Key Metrics
GM Financial – Key Metrics * Q4 2009 not included in consolidated GM results, does not reflect purchase accounting and is not directly comparable to Q4 2010. ($M) Q4 2010 Memo: Q4 2009* Earnings Before Tax 7 2 Total Originations 37 9 GM new vehicles as % of total 18.1% 10.8% Finance Receivables 8,64
Slide 33: Status of Material Weakness
Status of Material Weakness After assessing remediation efforts put in place, the management team and Audit Committee of the Board of Directors concluded that as of Dec 31, 2010: – Material weakness regarding financial reporting process no longer exists – Disclosure controls and procedures effective
Slide 34: Key Messages
Key Messages • CY 2010 Net Income to Common Stockholders of $4.7B & Automotive Free Cash Flow of $6.4B (excluding $4B Q4 pension contribution) • 2011 key areas of focus – Launch great products – Drive improved business results – Technology – Continue to improve balance sheet • Build on our progress
Slide 35: Select Supplemental Financial Information
General Motors Company Select Supplemental Financial Information
Slide 36: EBIT Walk to Net Income Attributable to Common Stockholders
EBIT Walk to Net Income Attr. Common Stockholders S2 Note: EBIT includes GM Financial on an Earnings Before Tax (EBT) basis Q4 Q4 CY GMNA GME GMIO GMSA Corp & Elims GMF N/A Total EBIT Interest Expense / (Income) Income Tax Expense / (Benefit) Net Income Attr. Stockholders Dividends on Preferred Stoc
Slide 37: Reconciliation of 2010 EBIT-Adj.
Reconciliation of 2010 EBIT-Adj. S3 Note: Results may not foot due to rounding Note: Q4 &CY EBIT & EBIT-Adj. includes GM Financial on an Earnings Before Tax (EBT) basis Q1 Q2 Q3 Q4 CY Net Income Attr. Common Stockholders Add Back: Dividends on Preferred Stock Interest Expense / (Income) Income Tax E
Slide 38: Reconciliation of Q4 2009 EBIT-Adj.
S4 Note: Results may not foot due to rounding Reconciliation of Q4 2009 EBIT-Adj. Q4 Net Income Attr. Common Stockholders Add Back: Dividends on Preferred Stock Interest Expense / (Income) Income Tax Expense / (Benefit) Auto Earnings Before Interest & Taxes (EBIT) Less Adjustments: - VEBA Settlement
Slide 39: Restructuring Excluded From Adjustments
Restructuring Excluded From Adjustments S5 Q1 Q2 Q3 Q4 CY GMNA – Dealer Related GMNA – Non-Dealer Related Total GMNA Total GME Total GMIO Total GMSA Total
Slide 40: Operating Income Walk to EBIT-Adj.
Operating Income Walk to EBIT- Adj S6 Note: Q4 &CY 2010 EBIT & EBIT-Adj. includes GM Financial on an Earnings Before Tax (EBT) basis Q4 Q1 Q2 Q3 Q4 Operating Income Equity Income Non-Controlling Interests Non-Operating Income/(Expense) Earnings Before Interest & Taxes (EBIT) Less Adjustments EBIT- A
Slide 41: Reconciliation of Automotive Free Cash Flow
Reconciliation of Automotive Free Cash Flow S7 Q4 CY Net cash provided by operating activities Less net cash provided by operating activities-GM Financial Automotive Net Cash Provided/(Used) Operating Activities Capital expenditures Automotive Free Cash Flow