For the year ended December 31, 2008, General Motors Corporation reported a Loss from Operations of $20 billion. The following asset impairment losses were included among its operating expenses.
Goodwill impairment ...................................... $ 610 million
HUMMER equipment impairment ......................... 290 million
Saab equipment impairment ................................ 500 million
Other impairment losses .................................. 1,100 million
Total impairment losses ................................. $2,500 million
Do GM 's asset impairment losses seem significant in terms of total dollar value? What percentage of the company's 2008 operating loss was explained by asset impairments? Why might GM write down its HUMMER and Saab production equipment, but not its Chevrolet production equipment?