GM Lost $4.3b In The Second Half Of 2009

Edward Niedermeyer
by Edward Niedermeyer
gm lost 4 3b in the second half of 2009

GM has announced its “fresh-start” post-bankruptcy accounting results, and between July and December of last year, the bailed-out automaker lost $4.3b [press release here, full numbers here, in PDF format]. The loss comes despite $57.5b in global revenue, and $1b in “net cash provided by operating activities.” According to GM’s release:

The $4.3 billion net loss includes the pre-tax impact of a $2.6 billion settlement loss related to the UAW retiree medical plan and a $1.3 billion foreign currency re-measurement loss.

Of course, you have to dig into the numbers to find the bad news, like the $56.4b in “cost of sales,” or the $700m interest cost, or the 48 percent North American capacity utilization in 2009, or the 16.3 percent US car market share. Which is why we’ve included the consolidated statement of operations, consolidated balance sheets and more, for your no-download-necessary perusal, after the jump.

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  • Obbop Obbop on Apr 07, 2010

    While I continue, during casual conversations, and the opportunity allows it, inform others of my 2004 decision to assist the "home team" by buying a Ft. Wayne-made Chevy truck and how several dealers AND corporate GMC spat upon me by refusing to even make a honest attempt at diagnosing several of the defects that negatively affected the truck and that added several thousand dollars of indirect cost to the total "cost of ownership" during the warranty period (lost time/wages, car rentals, etc)

  • Motorhead10 Motorhead10 on Apr 08, 2010

    they still have to invest in the business - so a run rate of $2b per year cash from operating and forecast cap ex of $6b (cap ex was $7.5b in '07 & '08) results negative free cash flow. But yeah, "favorable managed working capital of $4.3 billion primarily driven by the effect of increased sales and production on accounts payable and the timing of certain supplier payments" = no cash burn from operations...

  • Slavuta Civic EX - very competent car. I hate the fact of CVT and small turbo+DI. But it is a good car. Good rear seat. Fix the steering and keep goingBut WRX is just a different planet.
  • SPPPP This rings oh so very hollow. To me, it sounds like the powers that be at Ford don't know which end is up, and therefore had to invent a new corporate position to serve as "bad guy" for layoffs and eventual scapegoat if (when) the quality problems continue.
  • Art Vandelay Tasos eats $#!t and puffs peters
  • Kwik_Shift Imagine having trying to prove that the temporary loss of steering contributed to your plunging off a cliff or careening through a schoolyard?
  • Inside Looking Out How much costs 25 y.o. Mercedes S class with 200K miles?