| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, |
|
|
|
|
|
1999 |
|
1998 |
|
|
|
|
|
|
|
|
|
|
(in millions) |
|
|
|
|
|
|
ASSETS |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
1,546 |
|
|
$ |
995 |
|
|
|
|
|
|
|
Other marketable securities |
|
|
10 |
|
|
|
5 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cash and marketable securities |
|
|
1,556 |
|
|
|
1,000 |
|
|
|
|
|
|
|
Accounts receivable, net: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
General Motors and affiliates |
|
|
3,817 |
|
|
|
2,236 |
|
|
|
|
|
|
|
|
Other customers |
|
|
1,555 |
|
|
|
977 |
|
|
|
|
|
|
|
Inventories, net |
|
|
1,749 |
|
|
|
1,770 |
|
|
|
|
|
|
|
Deferred income taxes |
|
|
1,071 |
|
|
|
285 |
|
|
|
|
|
|
|
Prepaid expenses and other |
|
|
63 |
|
|
|
137 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current assets |
|
|
9,811 |
|
|
|
6,405 |
|
|
|
|
|
|
|
Long-term assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Property, net |
|
|
5,106 |
|
|
|
4,965 |
|
|
|
|
|
|
|
|
Deferred income taxes |
|
|
1,930 |
|
|
|
2,813 |
|
|
|
|
|
|
|
|
Other |
|
|
1,503 |
|
|
|
1,323 |
|
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
18,350 |
|
|
$ |
15,506 |
|
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Notes payable and current portion of long-term debt |
|
$ |
117 |
|
|
$ |
359 |
|
|
|
|
|
|
|
Accounts payable |
|
|
3,096 |
|
|
|
2,260 |
|
|
|
|
|
|
|
Accrued liabilities |
|
|
3,524 |
|
|
|
1,438 |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total current liabilities |
|
|
6,737 |
|
|
|
4,057 |
|
|
|
|
|
|
|
Long-term liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Long-term debt, including intracompany note payable with General
Motors in 1998 |
|
|
1,640 |
|
|
|
3,141 |
|
|
|
|
|
|
|
|
Pension benefits |
|
|
858 |
|
|
|
2,180 |
|
|
|
|
|
|
|
|
Postretirement benefits other than pensions |
|
|
4,339 |
|
|
|
4,573 |
|
|
|
|
|
|
|
|
Other |
|
|
1,576 |
|
|
|
1,546 |
|
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
15,150 |
|
|
|
15,497 |
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ equity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Common stock |
|
$ |
6 |
|
|
$ |
— |
|
|
|
|
|
|
|
|
Additional paid in capital |
|
|
2,601 |
|
|
|
— |
|
|
|
|
|
|
|
|
Retained earnings |
|
|
964 |
|
|
|
— |
|
|
|
|
|
|
|
|
General Motors’ net investment |
|
|
— |
|
|
|
77 |
|
|
|
|
|
|
|
|
Accumulated translation adjustments |
|
|
(324 |
) |
|
|
(68 |
) |
|
|
|
|
|
|
|
Treasury stock, at cost |
|
|
(47 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
Total stockholders’ equity |
|
|
3,200 |
|
|
|
9 |
|
|
|
|
|
|
|
|
|
|
|
Total liabilities and stockholders’ equity |
|
$ |
18,350 |
|
|
$ |
15,506 |
|
|
|
|
|
|
|
|
|
|
