General Motors CoGM

General Motors Co Goodwill & Intangibles Disclosure

10-KFiled Jan 27, 20262 min read
Goodwill and Intangible Assets
Goodwill of $1.9 billion consisted of $1.3 billion in GM Financial and $571 million in GMNA at December 31, 2025. Goodwill of $1.9 billion consisted of $1.3 billion in GM Financial and $569 million in Cruise at December 31, 2024. During the three months ended March 31, 2025, $571 million of goodwill recorded in the Cruise segment was reallocated to the GMNA segment. The reallocation of the goodwill reflects the wind down of the Cruise robotaxi operations and combination of the GM and Cruise technical efforts in our GMNA segment to build on the success of Super Cruise and prioritize the development of ADAS on a path to fully autonomous personal vehicles. We performed goodwill impairment tests prior to and after the reallocation and determined that the goodwill was not impaired.
December 31, 2025December 31, 2024
Gross Carrying AmountAccumulated AmortizationNet Carrying AmountGross Carrying AmountAccumulated AmortizationNet Carrying Amount
Technology and intellectual property$394 $394 $1 554 483 $71 
Brands4,289 1,985 2,305 4,288 1,873 2,415 
Dealer network, customer relationships, and other950 801 148 957 793 164 
Total intangible assets$5,633 $3,179 $2,454 $5,799 $3,149 $2,649 

Our amortization expense related to intangible assets was $145 million, $146 million, and $114 million in the years ended December 31, 2025, 2024, and 2023. In the year ended December 31, 2025, we recorded an insignificant amount of impairment charges associated with our EV strategic realignment. In the year ended December 31, 2024, we recorded $142 million of impairment charges related to the write-off of technology and intellectual property associated with Cruise.

Amortization expense related to intangible assets is estimated to be approximately $127 million in each of the next five years.

Historical Timeline

Fiscal YearFiled
2025Jan 27, 2026Showing above
2024Jan 28, 2025
2023Jan 30, 2024
2022Jan 31, 2023
2021Feb 2, 2022
2020Feb 10, 2021
2019Feb 5, 2020
2018Feb 6, 2019
2017Feb 6, 2018
2016Feb 7, 2017
2015Feb 3, 2016

About Goodwill & Intangibles Disclosures

Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.

Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.

Other Available Disclosures

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