In a previous post I addressed General Motors North America Automotive Earnings. These US GAAP Pre-tax and Pre-Interest Earnings totaled $44.883 Bil in the most recent four years 2015-2018 Combined.
These Automotive Earnings do not include any financial earnings related to auto or truck leasing or to auto or truck loans which are included in GM 100% owned financial subsidiary called General Motors Financial Company, Inc, which is headquartered in Fort Worth, Texas and which files separate audited financial statements with the US SEC.
There wouldn't be any earnings in General Motors Financial Company, Inc if the GM auto or truck wasn't already manufactured before it was either sold or leased out. GMNA workers are essential to these financial earnings.
How big a deal are these General Motors Financial Company, Inc earnings?
Well, for annual 2018, General Motors Financial Company's (GMFC) Audited Income From Continuing Operations Before Income Taxes Were $1.893 Bil, up a blistering 58% from the comparable earnings of $1.196 Bil in annual 2017.
And for annual 2017, GMFC's Audited Income From Continuing Operations Before Income Taxes Were $1.196 Bil, up another blistering 57% from the comparable earnings of $0.762 Bil in annual 2016.
GMFC eliminated a drag on its earnings when it sold certain of its European operations in October 2017.
Very few US Companies in any industry had back-to-back earnings increases of at least 57% in both of the two most recent years.
What about GMFC's financial strength? It's rock solid.
At December 31, 2018, its Audited Total Equity was $11.659 Bil and thus its Audited Total Assets of $109.920 Bil exceeded its Audited Total Liabilities of $98.261 Bil by $11.659 Bil.
