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General Motors | UPLOAD: Others

SEC announcement · Jan 26 14:46

GM +0.43%

Summary by Moomoo AI

General Motors Co has received a follow-up comment from the United States Securities and Exchange Commission (SEC) regarding its Form 10-K for the fiscal year ended December 31, 2022. The SEC's letter, dated January 26, 2024, addressed to Paul A. Jacobson, Chief Financial Officer of General Motors, requests further clarification on the company's liquidity and capital resources, specifically regarding the consolidated level cash flows as per Item 303(b) of Regulation S-K. Additionally, the SEC seeks a more detailed explanation of General Motors' accounting for vehicle transfers to rental car companies, which are not being treated as leases. This appears to be a change from the company's previous accounting practices referenced in a 2017 preclearance. The SEC has asked General Motors to respond within ten business days or to provide a timeline for when they will respond. The letter also mentions potential additional comments after reviewing General Motors' response and includes contact information for SEC representatives for any questions related to the financial statements and related matters.

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Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more

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This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeline for any particular purpose of the above content.

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