Eli5: General Motors said they broke even this last quarter because strike but I search the 10-k on sec.gov I’m pretty new to reading it but I find the total net sales 14.5B and they say on the news 8.4B

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Just trying to see if there’s a smart person that reads that website for stock trading and can let me know how wrong I was on my search and how to actually find it correctly?

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2 Answers

Anonymous 0 Comments

Are you sure any of these numbers ia correct? Last qurter’s revenues didnt resemble any of these figures.
And by the way, net sales has nothing to do with the company breaking even or not.

Anonymous 0 Comments

The 8.4B is a non-GAAP measure they call “EBIT-adjusted”. Basically, GAAP are the rules companies are required to follow when reporting their financial results. But managements sometimes want to use different measures.

In “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” you can find their explanation. And on page 21 you can find how they calculated EBIT-adjusted from Net income.