Investor Presentaiton
Reconciliation of EBIT-adjusted
Q3
Q4
Q1
Q2
2021
2022
2021
2022
2022
2023
2022
2023
Net income attributable to stockholders
2.4
3.3
1.7
2.0
2.9
2.4
1.7
2.6
Income tax expense (benefit)
0.2
0.8
0.5
0.6
(0.0)
0.4
0.5
0.5
Automotive interest expense
0.2
0.3
0.2
0.3
0.2
0.2
0.2
0.2
Automotive interest income
(0.0)
(0.1)
(0.0)
(0.2)
(0.1)
(0.2)
(0.1)
(0.3)
($B)
Adjustments
Voluntary separation program'
Cruise compensation modifications²
Russia exit³
Buick dealer strategy
Patent royalty matters
5
GM Brazil indirect tax matters
Cadillac dealer strategy?
|||||
(0.1)
| | | 。 । | | 38སླ
|||||||||
0.9
མྱི | | ཅ | | | ।
0.2
| | | | 3 སྱཱ ༔
1.1
0.7
0.5
0.3
(0.1)
|
| | | | │2
0.2
0.2
0.4
1.2
1.0
1.0
2.9
4.3
2.8
3.8
4.0
3.8
2.3
1 This adjustment was excluded because it relates to the acceleration of attrition as part of the cost reduction program announced in January 2023, primarily in the United States.
2 This adjustment was excluded because it relates to the one-time modification of Cruise stock incentive awards.
4 These adjustments were excluded because they relate to strategic activities to transition certain Buick dealers out of our dealer network as part of Buick's EV strategy.
3 This adjustment was excluded because it relates to the shutdown of our Russia business including the write off of our net investment and release of accumulated translation losses into earnings.
5 These adjustments were excluded because they relate to certain royalties accrued with respect to past-year vehicle sales in the three months ended December 31, 2021, and the resolution of substantially all of these matters in the three months ended March 31, 2022.
6 This adjustment was excluded because it relates to a settlement with third parties in the three months ended December 31, 2021, relating to retrospective recoveries of indirect taxes in Brazil realized in prior periods.
7 This adjustment was excluded because it relates to strategic activities to transition certain Cadillac dealers from the network as part of Cadillac's EV strategy.
8 This adjustment was excluded because it relates to the partial resolution of subcontractor matters in Korea
36
GM Korea wage litigation³
Total adjustments
EBIT-adjusted
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