GMGeneral Motors

Consumer discretionary · Automakers · NYSE

General Motors Company (sometimes referred to as we, our, us, ourselves, the Company, General Motors, or GM) was incorporated as a Delaware corporation in 2009. 10-K, Item 1

Headquarters: Detroit, MI
CEO: Mary T. Barra
Next results: around Jan 26, 2027

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What the 10-K filed 2026-01-27 says about risks that are not on the face of the balance sheet, from the notes to the financial statements, Legal Proceedings and the MD&A (and, for big customers and key suppliers, Business and Risk Factors). Tickdelta picks sentences with specifics (amounts, accruals, covenant ratios) and quotes them as filed. New marks a sentence with nothing like it in the 10-K filed 2025-01-28.

Big customers

Customers the company names as a large share of revenue or receivables (it must name any worth 10% of revenue).

No specific sentence about this in the 10-K.

Key suppliers

Parts or manufacturing that depend on one or a few suppliers.

“In some instances, we purchase systems, components, raw materials, and parts that are ultimately derived from a single source and may be at an increased risk for supply disruptions.”
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“The assets of the VIEs serve as the sole source of repayment for the debt issued by these entities.”
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Lawsuits and legal claims

1 new

Pending cases, settlements and what the company has set aside for them.

“Currently, various consumer lawsuits have been filed against the Seller and Stellantis in Germany, the UK, Austria, and the Netherlands alleging that Opel and Vauxhall vehicles sold by the Seller violated applicable emissions standards.”
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“There are several putative class actions that have been filed against GM, including in the U.S. and Canada, arising out of allegations that airbag inflators manufactured by Takata are defective.”
Read it in the 10-K ↗

“There are several putative class actions that have been filed against GM, including in the U.S., Canada, and Israel, arising out of allegations that airbag inflators manufactured by ARC are defective.”
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“In addition, putative class actions have been filed against GM in the U.S. and Canada alleging that the batteries contained in the Bolt EVs and EUVs included in the recall population are defective.”
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New “GM has agreed to settle the U.S. class actions for an immaterial amount and the settlement was given final approval by the court in the three months ended December 31, 2025.”
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Guarantees and indemnities

Promises to pay someone else's debts or losses if they cannot.

“The maximum future undiscounted payments mainly based on royalties received associated with vehicles sold to date were $3.5 billion and $3.7 billion for these guarantees at December 31, 2025 and 2024, the majority of which relates to the indemnification agreements.”
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“It is not possible to estimate our maximum exposure under these indemnifications or guarantees due to the conditional nature of these obligations.”
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Debt covenants

Conditions in loan agreements that, if broken, can make debt due early.

“Several of our loan facilities, including our credit facilities, require compliance with certain financial and operational covenants as well as regular reporting to lenders.”
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“We have reviewed our covenants in effect as of December 31, 2025 and determined we are in compliance and expect to remain in compliance in the future.”
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“Compliance with Debt Covenants Several of our loan facilities, including our revolving credit facilities, require compliance with certain financial and operational covenants as well as regular reporting to lenders, including providing certain subsidiary financial statements.”
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Commitments off the balance sheet

3 new

Contracts the company must pay for later: purchase obligations, take-or-pay deals.

New “The outstanding off-balance sheet amount of the transferred finance receivables subject to continuing involvement was $1.7 billion at December 31, 2025.”
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New “In September 2025, GM Financial entered into $2.1 billion of purchase commitments with various dealers to acquire certain EVs through June 30, 2026.”
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New “As of December 31, 2025, GM Financial has up to approximately $293 million of purchase commitments remaining for any EVs that have not been placed in service by June 30, 2026.”
Read it in the 10-K ↗

Sentences are chosen by their words, not read by AI, so some can be off topic. Always check the filing. Open the 10-K ↗

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