GM 2004 Annual Report
General Motors Corporation 2004 Annual Report Hands on the wheel. Eyes on the road. Contents 2 Financial Highlights 42 Corporate and Social Responsibility 3 Letter to Stockholders 44 Management’s Discussion and Analysis 8 Drive more great new cars and trucks. 59 Independent Auditors’ Report 20 Drive breakthrough technology. 60 Consolidated Financial Statements 26 Drive one company further. 67 Notes to Consolidated Financial Statements 32 Drive more dreams to reality. 102 Board of Directors and Committees 36 Drive to a bright new future. 104 Senior Leadership Group 40 At a Glance Inside Back Cover General Information We’re on the right road. Our cars and trucks are getting better all the time. Our quality is now back among the best in the industry. We’re stronger and more globally integrated than ever. But it’s not enough. The world is not standing still while we improve. We have to be faster. Bolder. Better. With our hands fi rmly guiding the wheel and eyes focused confi dently on the road ahead, that’s what we’re determined to do. Financial Highlights (Dollars in millions, except per share amounts) Years ended December 31, 2004 2003 2002 Total net sales and revenues $193,517 $185,837 $177,867 Worldwide wholesale sales (units in thousands) 8,241 8,098 8,411 Income from continuing operations $÷÷2,805 $÷÷2,862 $÷÷1,975 (Loss) from discontinued operations – $÷÷÷(219) $÷÷÷(239) Gain on sale of discontinued operations – $÷÷1,179 – Net income $÷÷2,805 $÷÷3,822 $÷÷1,736 Net profi t margin from continuing operations 1.4% 1.5% 1.1% Diluted earnings
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