General Motors Co | 2013 | FY | 3


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
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

 
$
0.50

 
$
0.64

Earnings per share, diluted
$
0.58

 
$
0.75

 
$
0.45

 
$
0.57

 
1st Quarter
 
2nd Quarter
 
3rd Quarter
 
4th Quarter
2012
 
 
 
 
 
 
 
Total net sales and revenue
$
37,759

 
$
37,614

 
$
37,576

 
$
39,307

Automotive gross margin
$
4,418

 
$
4,449

 
$
4,327

 
$
(3,135
)
Net income
$
1,350

 
$
1,901

 
$
1,854

 
$
1,031

Net income attributable to stockholders
$
1,315

 
$
1,846

 
$
1,833

 
$
1,194

Earnings per share, basic
$
0.64

 
$
0.95

 
$
0.94

 
$
0.58

Earnings per share, diluted
$
0.60

 
$
0.90

 
$
0.89

 
$
0.54



Prior to the three months ended June 30, 2013 we used the two-class method for calculating earnings per share because Series B Preferred Stock was a participating security.

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.
Property and intangible 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 March 31, 2013 included the following on a pre-tax and pre-noncontrolling interests basis:

Charge of $162 million in GMSA for the Venezuela currency devaluation.

The three months ended December 31, 2012 included the following on a pre-tax and pre-noncontrolling interests basis:

Deferred tax asset valuation allowance release of $36.3 billion in the U.S. and Canada.
Goodwill impairment charges of $26.5 billion in GMNA and GMIO.
Property, plant and equipment impairment charges of $3.7 billion in GME.
Pension settlement charge of $2.6 billion in GMNA.
Intangible asset impairment charges of $1.8 billion in GME.
Charge of $525 million for GM Korea hourly wage litigation.
Charge of $402 million which represents the premium paid to purchase our common stock from the UST in Corporate.

The three months ended March 31, 2012 included the following on a pre-tax and pre-noncontrolling interests basis:

Goodwill impairment charges of $617 million in GMIO and GME.

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