Item 6. Selected Financial Data

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Item 6. Selected Financial Data

GENERAL MOTORS COMPANY AND SUBSIDIARIES



	At and for the Years Ended December 31,
2017			2016			2015			2014			2013
Income Statement Data:
Total net sales and revenue	$	145,588		$	149,184		$	135,725		$	137,958		$	138,792
Income from continuing operations(a)(b)	$	330		$	9,269		$	9,590		$	4,525		$	5,960
Basic earnings per common share – continuing operations(a)(b)	$	0.23		$	6.12		$	6.09		$	2.06		$	3.16
Diluted earnings per common share – continuing operations(a)(b)	$	0.22		$	6.00		$	5.89		$	1.95		$	2.76
Dividends declared per common share	$	1.52		$	1.52		$	1.38		$	1.20		$	—
Balance Sheet Data:
Total assets(c)	$	212,482		$	221,690		$	194,338		$	177,311		$	166,231
Automotive notes and loans payable	$	13,502		$	10,560		$	8,535		$	9,084		$	6,815
GM Financial notes and loans payable	$	80,717		$	64,563		$	45,479		$	29,304		$	22,174
Total equity	$	36,200		$	44,075		$	40,323		$	36,024		$	43,174


(a)	In the year ended December 31, 2017 we recorded tax expense of $7.3 billion related to U.S. tax reform legislation, $2.3 billion related to the establishment of a valuation allowance against deferred tax assets that will no longer be realizable as a result of the sale of the Opel/Vauxhall Business, and charges of $460 million related to restructuring actions in India and South Africa. In the year ended December 31, 2015 we recorded the reversal of deferred tax asset valuation allowances of $3.9 billion in Europe and recorded charges related to the Ignition Switch Recall Compensation Program (Compensation Program) and for various legal matters of approximately $1.6 billion. In the year ended December 31, 2014 we recorded charges of approximately $2.8 billion in Automotive cost of sales related to recall campaigns and courtesy transportation, a catch-up adjustment of $0.9 billion related to the change in estimate for recall campaigns and a charge of $0.4 billion related to the Compensation Program.

(a)

In the year ended December 31, 2017 we recorded tax expense of $7.3 billion related to U.S. tax reform legislation, $2.3 billion related to the establishment of a valuation allowance against deferred tax assets that will no longer be realizable as a result of the sale of the Opel/Vauxhall Business, and charges of $460 million related to restructuring actions in India and South Africa. In the year ended December 31, 2015 we recorded the reversal of deferred tax asset valuation allowances of $3.9 billion in Europe and recorded charges related to the Ignition Switch Recall Compensation Program (Compensation Program) and for various legal matters of approximately $1.6 billion. In the year ended December 31, 2014 we recorded charges of approximately $2.8 billion in Automotive cost of sales related to recall campaigns and courtesy transportation, a catch-up adjustment of $0.9 billion related to the change in estimate for recall campaigns and a charge of $0.4 billion related to the Compensation Program.


(b)	In December 2014 we redeemed all of the remaining shares of our Series A Preferred Stock for $3.9 billion, which reduced Income from continuing operations by $0.8 billion. In September 2013 we purchased 120 million shares of our Series A Preferred Stock held by the UAW Retiree Medical Benefits Trust (New VEBA) for $3.2 billion, which reduced Income from continuing operations by $0.8 billion.


(c)	Total assets includes assets held for sale of $20.6 billion, $20.0 billion, $17.8 billion, and $16.1 billion at December 31, 2016 through 2013, respectively.

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