Compare and evaluate Tesla and General Motors based on their financial statements. The financial statements of 2020 are available in Canvas. Use tables, charts or graphs to present numbers/ratios and provide your interpretation and analysis of the numbers. It is required that present financial information (numbers and ratios) for year 2020. You are encouraged to analyze firm performance based on multi-year information and trend. Assess the size and growth aspects of each company based on the following financial statement related items

Size

o total assets and total revenue

o market cap

Growth

o asset growth and revenue growth

o market to book ratio

o price to earnings ratio (P/E ratio)

Use the following ratios or financial statement items to compare and analyze business performance.

Profitability

o gross profit percentage (LO 5.6)

o return on assets (LO 1.6)

o return on common stockholders' equity, earnings per share, and the price/earnings ratio (LO 13.7)

Solvency

o debt ratio (LO 2.5)

o debt to equity (12.6)

o free cash flows

?

Liquidity

o current ratio (LO 4.6)

o acid-test ratio (LO 8.5)

?

Operating Efficiency

o inventory turnover, days' sales in inventory (LO 6.6)

o accounts receivable turnover ratio, and days' sales in receivables (LO 8.5)

o asset turnover ratio (LO 9.6)

A B C Tesla Consolidated Balance Sheets - USD ($) $ in Millions Dec. 31, 2020 Dec. 31, 2019 Current assets Cash and cash equivalents $ 19,384 $ 6,268 Accounts receivable, net 1,886 1,324 Inventory 4,101 3,552 Prepaid expenses and other current assets 1,346 959 Total current assets 26,717 12,103 Property, plant and equipment, net 12,747 10,396 10 Operating lease right-of-use assets 1,558 1,218 11 Intangible assets, net 313 339 12 Goodwill 207 198 13 Other non-current assets 1,536 1,470 14 Total assets 52,148 34,309 15 Current liabilities 16 Accounts payable 6,051 3,771 17 Accrued liabilities and other 3,855 3,222 18 Deferred revenue 1,458 1,163 19 Customer deposits 752 726 20 Current portion of debt and finance leases 2,132 1,785 21 Total current liabilities 14,248 10,667 22 Debt and finance leases, net of current portion 9,556 11,634 23 Deferred revenue, net of current portion 1,284 1,207 24 Other long-term liabilities 3,330 2,691 25 Total liabilities 28,418 26,199 26 Commitments and contingencies (Note 16) 27 Redeemable noncontrolling interests in subsidiaries 604 643 28 Convertible senior notes (Note 12) 51 29 Stockholders' equity Preferred stock; $0.001 par value; 100 shares authorized; no 0 shares issued and outstanding Common stock; $0.001 par value; 2,000 shares authorized; 960 1 and 905 shares issued and outstanding as of December 31, 2020 31 and December 31, 2019, respectively 32 Additional paid-in capital 27,260 12,736 33 Accumulated other comprehensive income (loss) 363 (36) 34 Accumulated deficit (5,399) (6,083) 35 Total stockholders' equity 22,225 6,618 36 Noncontrolling interests in subsidiaries 850 849 37 Total liabilities and equity 52,148 34,309 38 39 Operating Lease Vehicles [Member] 40 Current assets 41 Operating lease vehicles, net 3,091 2,447 42 Solar Energy Systems [Member] 43 Current assets 44 Solar energy systems, net $ 5,979 $ 6,138A B C D E Tesla Consolidated Statements of Operations - USD 12 Months Ended U AWNG ($) shares in Millions, $ in Millions Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2018 Revenues Automotive leasing $ 1,052 $ 869 $ 883 Total automotive revenues 27,236 20,821 18,515 Services and other 2,306 2,226 1,391 Total revenues 31,536 24,578 21,461 4 00 Cost of revenues 10 Automotive leasing 563 459 488 11 Total automotive cost of revenues 20,259 16,398 14,174 12 Services and other 2,671 2,770 1,880 13 Total cost of revenues 24,906 20,509 17,419 14 Gross profit 6,630 4,069 4,042 15 Operating expenses 16 Research and development 1,491 1,343 1,460 17 Selling, general and administrative 3,145 2,646 2,835 18 Restructuring and other 149 135 Total operating expenses 4,636 4,138 4,430 20 Income (loss) from operations 1,994 69) (388) 21 Interest income 30 44 24 22 Interest expense 748) (685) (663) 23 Other (expense) income, net (122) 45 22 24 Income (loss) before income taxes 1,154 (665) (1,005) 25 Provision for income taxes 292 110 58 6 Net income (loss) 862 (775) (1,063) Net income (loss) attributable to 141 87 (87) noncontrolling interests and redeemable 27 noncontrolling interests in subsidiaries Net income (loss) attributable to common 721 (862) (976) 8 stockholders 29 Less: Buy-out of noncontrolling interest 31 8 Net income (loss) used in computing net $ 690 $ (870) $ (976) 30 income (loss) per share of common stock Net income (loss) per share of common stock 31 attributable to common stockholders Basic $ 0.74 $ (0.98) $ (1.14) 33 Diluted $ 0.64 $ (0.98) $ (1.14) Weighted average shares used in computing 34 net income (loss) per share of common stock 35 Basic 933 887 853 36 Diluted 1,083 887 853 37 Automotive Sales [Member] 38 Revenues 39 Revenues $ 26,184 $ 19,952 $ 17,632 40 Cost of revenues 41 Cost of revenues 19,696 15,939 13,686 42 Energy Generation and Storage [Member] 43 Revenues 44 Revenues 1,994 1,531 1,555 45 Cost of revenuesTesla Consolidated Statements of Cash Flows - USD ($) $ in Millions 12 Months Ended Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2018 Cash Flows from Operating Activities Net income (loss) $ 862 $ (775) $ (1,063) 6 Adjustments to reconcile net income (loss) to net cash provided by operating activities: Depreciation, amortization and impairment 2,322 2,154 1,901 Stock-based compensation 1,734 898 749 9 Amortization of debt discounts and issuance costs 180 188 159 10 Inventory and purchase commitments write-downs 202 193 85 11 Loss on disposals of fixed assets 117 146 162 12 Foreign currency transaction net loss (gain) 114 (48) (2) 13 Non-cash interest and other operating activities 228 186 19 14 Operating cash flow related to repayment of discounted convertible senior notes (188) 15 Changes in operating assets and liabilities, net of effect of business combinations: 16 Accounts receivable (652) (367) (497) 17 Inventory (422) (429) (1,023) 18 Operating lease vehicles (1,072) 764) (215) 19 Prepaid expenses and other current assets (251) 288 (82 20 Other non-current assets (344) 115 (207) 21 Accounts payable and accrued liabilities 2,102 646 1,797 22 Deferred revenue 321 801 406 23 Customer deposits (58) (96) 24 Other long-term liabilities 495 (5 (25) 25 Net cash provided by operating activities 5,943 2,405 2,098 26 Cash Flows from Investing Activities 27 Purchases of property and equipment excluding finance leases, net of sales (3,157) (1,327) (2,101) 28 Purchases of solar energy systems, net of sales (75) (105) (218) 29 Receipt of government grants 123 46 30 Purchase of intangible assets (10) (5) 31 Business combinations, net of cash acquired (13) (45) (18) 32 Net cash used in investing activities (3,132) (1,436) (2,337) 33 Cash Flows from Financing Activities 34 Proceeds from issuances of common stock in public offerings, net of issuance costs 12,269 848 35 Proceeds from issuances of convertible and other debt 9,713 10,669 6,176 36 Repayments of convertible and other debt (11,623) (9,161) 5,247) 37 Repayments of borrowings issued to related parties (100) 38 Collateralized lease repayments (240) 389 (559) 39 Proceeds from exercises of stock options and other stock issuances 417 263 296 40 Principal payments on finance leases (338) (321) (181) 41 Debt issuance costs (6) (37) (15) 42 Purchase of convertible note hedges 476) 43 Proceeds from issuance of warrants 174 44 Proceeds from investments by noncontrolling interests in subsidiaries 24 279 437 45 Distributions paid to noncontrolling interests in subsidiaries (208) 311 (227) 46 Payments for buy-outs of noncontrolling interests in subsidiaries (35) (9 (6) 47 Net cash provided by financing activities 9,973 1,529 574 48 Effect of exchange rate changes on cash and cash equivalents and restricted cash 334 (23) 49 Net increase in cash and cash equivalents and restricted cash 13,118 2,506 312 50 Cash and cash equivalents and restricted cash, beginning of period 6,783 4,277 3,965 51 Cash and cash equivalents and restricted cash, end of period 19,901 6,783 4,277 52 Supplemental Non-Cash Investing and Financing Activities 53 Equity issued in connection with business combination 207 54 Acquisitions of property and equipment included in liabilities 1,088 562 249 55 Estimated fair value of facilities under build-to-suit leases 94 56 Supplemental Disclosures 57 Cash paid during the period for interest, net of amounts capitalized 444 455 381 58 Cash paid during the period for taxes, net of refunds $ 115 $ 54 $ 35 59 60A B 12 Months Ended Overview Dec. 31, 2020 Accounting Policies [ Abstract] Overview Note 1 -Overview Tesla, Inc. ("Tesla", the "Company", "we", "us" or "our") was incorporated in the State of Delaware on July 1, 2003. We design, develop, manufacture and sell high-performance fully electric vehicles and design, manufacture, install and sell solar energy generation and energy storage products. Our Chief Executive Officer, as the chief operating decision maker ("CODM" ), organizes our company, manages resource allocations and measures performance among two operating and reportable segments: (i) automotive and (ii) energy generation and storage. As of and following December 31, 2020, there has continued to be widespread impact from the coronavirus disease ("COVID-19") pandemic. In 2020, we temporarily suspended operations at each of our manufacturing facilities worldwide for a part of the first half of the year. Some of our suppliers and partners also experienced temporary suspensions before resuming, including Panasonic, which manufactures battery cells for our products at our Gigafactory Nevada. We also instituted temporary employee furloughs and compensation reductions while our U.S. operations were scaled back. Finally, reduced operations or closures at motor vehicle departments, vehicle auction houses and municipal and utility company inspectors resulted in challenges in or postponements for our new vehicle deliveries, used vehicle sales, and energy product deployments. By the second half of 2020, however, we resumed operations at all of our manufacturing facilities and have continued to increase our output and add additional capacity and work with each of our suppliers and government agencies on meeting, ramping and sustaining our production. On the other hand, certain government regulations and shifting social behaviors have continued to limit or close non-essential transportation, government functions, business activities and person-to-person interactions. In some cases, the relaxation of such trends has recently been followed by actual or contemplated returns to stringent restrictions on gatherings or commerce. We cannot predict the duration or direction of such trends, which have also adversely affected and may in the future affect our operations. On February 19, 2020, we completed a public offering of our common stock and issued a total of 15.2 million shares ( as adjusted to give effect to the Stock Split, as described in the paragraph below), On August 10, 2020, our Board of Directors declared a five-for-one split of the Company's common stock effected in the form of a stock dividend (the "Stock Split"). Each stockholder of record on August 21, 2020 received a dividend of four additional shares of common stock for each then-held share, distributed after close of trading on UI AA B C D E F G H Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Millions 12 Months Ended Dec. 31, 2020 W NI Dec. 31, 2019 Dec. 31, 2018 Statement Of Income And Comprehensive Income [Abstract] Net income (loss) $ 862 $ (775) $ (1,063) UT Other comprehensive income (loss): 6 Foreign currency translation adjustment 399 (28) (42) 7 Comprehensive income (loss) 1,261 (803) (1,105) Less: Comprehensive income (loss) attributable to noncontrolling interests and redeemable 141 87 (87) 8 noncontrolling interests in subsidiaries 9 Comprehensive income (loss) attributable to common stockholders $ 1,120 $ (890) $ (1,018) 10 11 12 13 14 15 16A B C D E F G H I 32 Balance at Dec. 31, 2019 K L M N O P Q R S 7,467 T 643 $ 1 33 Balance (Accounting Standards Update No. 2016-13 [Member]) at Dec. 31, 2019 12,736 (6,083) (36) (37) 6,618 849 34 Balance, shares at Dec. 31, 2019 [1] (37) (37) 905 35 Reclassification between equity and mezzanine equity for convertible senior notes (51) 36 Exercises of conversion feature of convertible senior notes (51) 59 (51) $0 37 Exercises of conversion feature of convertible senior notes, Shares 59 [1] 59 2 38 Issuance of common stock for equity incentive awards 417 39 Issuance of common stock for equity incentive awards, Shares $0 417 [1] 417 40 Issuance of common stock public offering 19 12,269 $0 41 Issuance of common stock public offering, shares 12,269 [1) 12,269 34 42 Stock-based compensation 1,861 43 Contributions from noncontrolling interests 1,861 1,861 17 44 Distributions to noncontrolling interests 7 (132) (67) 17 45 Buy-outs of noncontrolling interests (31) (4 ) (132) 46 Net income (loss) (31) 837 25 (31) 47 Other comprehensive income (loss) 721 399 721 116 48 Balance at Dec. 31, 2020 $ 23,075 399 399 49 Balance, shares at Dec. 31, 2020 $ 604 $ 1 $ 27,260 [1] $ (5,399) $ 363 $ 22,225 $ 850 960 50 51 [1] Prior period results have been adjusted to reflect the five-for-one stock split effected in the form of a stock dividend in August 2020. See Note 1, OverviewConsolidated Balance Sheets - USD ($) $ in Millions Dec. 31, 2020 Dec. 31, 2019 W N Current Assets Cash and cash equivalents $ 19,992 $ 19,069 Marketable debt securities (Note 4) 9,046 4,174 Accounts and notes receivable (net of allowance of $224 and $201) 8,035 6,797 Inventories (Note 6) 10,235 10,398 Other current assets (Note 4; Note 11 at VIEs) 7,407 7,953 Total current assets 80,924 74,992 10 Non-current Assets 11 Equity in net assets of nonconsolidated affiliates (Note 8) 8,406 8,562 12 Property, net (Note 9) 37,632 38,750 13 Goodwill and intangible assets, net (Note 10) 5,230 5,337 14 Equipment on operating leases, net (Note 7; Note 11 at VIEs) 39,819 42,055 15 Deferred income taxes (Note 17) 24,136 24,640 16 Other assets (Note 4; Note 11 at VIEs) 7,264 7,346 17 Total non-current assets 154,270 153,045 18 Total Assets 235,194 228,037 19 Current Liabilities 20 Accounts payable (principally trade) 19,928 21,018 21 Accrued liabilities (Note 12) 23,069 26,487 22 Total current liabilities 79,910 84,905 23 Non-current Liabilities 24 Postretirement benefits other than pensions (Note 15) 6,277 5,935 25 Pensions (Note 15) 12,902 12,170 26 Other liabilities (Note 12) 13,447 13,146 27 Total non-current liabilities 105,607 97,175 28 Total Liabilities 185,517 182,080 29 Commitments and contingencies (Note 16) 30 Equity (Note 20) 31 Common stock, $0.01 par value 14 14 32 Additional paid-in capital 26,542 26,074 33 Retained earnings 31,962 26,860 34 Accumulated other comprehensive loss (13,488) (11,156) 35 Total stockholders' equity 45,030 41,792 36 Noncontrolling interests 4,647 4,165 37 Total Equity 49,677 45,957 38 Total Liabilities and Equity 235,194 228,037 39 GM Financial 40 Current Assets 41 GM Financial receivables, net (Note 5; Note 11 at VIEs) 26,209 26,601 42 Non-current Assets 43 GM Financial receivables, net (Note 5; Note 11 at VIEs) 31,783 26,355 44 Current Liabilities 45 Short-term debt and current portion of long-term debt (Note 13) 35,637 35,503 46 Non-current Liabilities 47 Long-term debt (Note 13) 56,788 53,435 48 Automotive 49 Current Liabilities 50 Short-term debt and current portion of long-term debt (Note 13) 1,276 1,897 51 Non-current Liabilities 52 Long-term debt (Note 13) $ 16,193 $ 12,489A B C D E General Motors 12 Months Ended Consolidated Income Statements - USD ($) shares in Millions, $ in Millions W I Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2018 4 Net sales and revenue 5 Automotive $ 108,673 $ 122,697 $ 133,045 Total net sales and revenue (Note 3) 122,485 137,237 147,049 Costs and expenses 8 Automotive and other cost of sales 97,539 110,651 120,656 9 Automotive and other selling, general and administrative expense 7,038 8,491 9,650 10 Total costs and expense 115,851 131,756 142,604 11 Operating income 5,634 5,481 4,445 12 Total interest expense 4,121 4,423 3,880 13 Interest income and other non-operating income, net (Note 19) 1,885 1,469 2,596 14 Equity income (Note 8) 674 1,268 2,163 15 Income before income taxes 8,095 436 3,549 16 Income tax expense (Note 17) 1,774 769 474 17 Income from continuing operations 6,321 5,667 8,075 18 Loss from discontinued operations, net of tax (Note 22) 70 19 Net income 5,321 6,667 8,005 20 Net loss attributable to noncontrolling interests 106 65 9 21 Net income attributable to stockholders 6,427 6,732 8,014 22 Net income attributable to common stockholders $ 6,247 $ 6,581 $ 7,916 23 Earnings per share (Note 21) 24 Basic earnings per common share - continuing operations (in dollars per share) $ 4.36 $ 4.62 $ 5.66 25 Basic loss per common share - discontinued operations (in dollars per share) 0.05 26 Basic earnings per common share (in dollars per share) $ 4.36 $ 4.62 $ 5.61 27 Weighted-average common shares outstanding - basic (in shares) 1,433 1,424 1,411 28 Diluted earnings per common share - continuing operations (in dollars per share) $ 4.33 $ 4.57 $ 5.58 29 Diluted loss per common share - discontinued operations (in dollars per share) 0 0 0.05 30 Diluted earnings per common share (in dollars per share) $ 4.33 $ 4.57 $ 5.53 31 Weighted-average common shares outstanding - diluted (in shares) 1,442 1,439 1,431 32 Automotive 33 Net sales and revenue 34 Automotive $ 108,673 $ 122,697 $ 133,045 35 Costs and expenses 36 Total interest expense 1,098 782 655 37 GM Financial 38 Net sales and revenue 39 Total net sales and revenue (Note 3) 13,812 14,540 14,004 40 Costs and expenses 41 GM Financial interest, operating and other expenses $ 11,274 $ 12,614 $ 12,298 42 43A B C D E General Motors Consolidated Statements Of Cash Flows - USD ($) $ in Millions 12 Months Ended Dec. 31, 2020 Dec. 31, 2019 Dec. 31, 2018 Cash flows from operating activities Income from continuing operations $ 6,321 $ 6,667 $ 8,075 6 Depreciation and impairment of Equipment on operating leases, net 7,178 7,332 7,604 Depreciation, amortization and impairment charges on Property, net 5,637 6,786 5,06 8 Foreign currency remeasurement and transaction (gains) losses 203 (85) 168 9 Undistributed earnings of nonconsolidated affiliates, net 524 585 (141) 10 Pension contributions and OPEB payments (851) 985 (2,069) 11 Pension and OPEB income, net (765) (484) (1,280) 12 Provision (benefit) for deferred taxes 925 (133) (112) 13 Change in other operating assets and liabilities (Note 25) (399) (3,789) 1,376) 14 Other operating activities (2,103) 873 (1,678 15 Net cash provided by operating activities 16,670 15,021 15,256 16 Cash flows from investing activities 17 Expenditures for property (5,300) (7,592) (8,761) 18 Available-for-sale marketable securities, acquisitions (16,204) (4,075) (2,820) 19 Available-for-sale marketable securities, liquidations 11,941 6,265 5,108 20 Purchases of finance receivables, net (30,090) (24,538) (25,671) 21 Principal collections and recoveries on finance receivables 19,726 22,005 17,048 22 Purchases of leased vehicles, net (15,233) (16,404) (16,736) 23 Proceeds from termination of leased vehicles 13,399 13,302 10,864 24 Other investing activities (65) 138 39 25 Net cash used in investing activities - continuing operations (21,826) (10,899) (20,929) 26 Net cash provided by investing activities - discontinued operations (Note 22) 166 27 Net cash used in investing activities (21,826) (10,899) (20,763) 28 Cash flows from financing activities 29 Net increase (decrease) in short-term debt 277 (312) 1,186 30 Proceeds from issuance of debt (original maturities greater than three months) 78,527 36,937 43,801 31 Payments on debt (original maturities greater than three months) (72,663) (39,156) (33,323) 32 Proceeds from issuance of subsidiary preferred and common stock (Note 20) 492 457 2,862 33 Dividends paid (669) (2,350 (2,242) 34 Other financing activities (412) (253) 830) 35 Net cash provided by (used in) financing activities 5,552 (4,677) 11,454 36 Effect of exchange rate changes on cash, cash equivalents and restricted cash (222) (299) 37 Net increase (decrease) in cash, cash equivalents and restricted cash 174 (553) 5,648 38 Cash, cash equivalents and restricted cash at beginning of period 22,943 23,496 17,848 39 Cash, cash equivalents and restricted cash at end of period 23,117 22,943 23,496 40 Continuing Operations 41 Significant Non-cash Investing and Financing Activity 42 Non-cash property additions - continuing operations $ 2,300 $ 2,837 $ 3,813 43A B C D 12 Months Ended Nature Of Operations and Basis of Presentation Dec. 31, 2020 WN I Nature of Operations and Basis of Presentation [Abstract] Nature of Operations and Basis of Presentation Nature of Operations and Basis of Presentation General Motors Company was incorporated as a Delaware corporation in 2009. We design, build and sell trucks, crossovers, cars and automobile parts worldwide and are investing in and growing an autonomous vehicle business. We also provide automotive financing services through GM Financial. We analyze the results of our continuing operations through the following segments: GMNA, GMI, Cruise and GM Financial. Cruise is our global segment responsible for the development and commercialization of autonomous vehicle technology. Nonsegment operations are classified as Corporate. Corporate includes certain centrally recorded income and costs such as interest, income taxes, corporate expenditures and certain nonsegment-specific revenues and expenses. The consolidated financial statements are prepared in conformity with U.S. GAAP. Except for per share amounts or as otherwise specified, amounts presented within tables are stated in millions. Principles of Consolidation We consolidate entities that we control due to ownership of a majority voting interest and we consolidate variable interest entities (VIEs) when we are the primary beneficiary. All intercompany balances and transactions have been eliminated in consolidation. Our share of earnings or losses of nonconsolidated affiliates is included in our consolidated operating results using the equity method of accounting when we are able to exercise significant influence over the operating and financial decisions of the affiliate. Use of Estimates in the Preparation of the Financial Statements Accounting estimates are an integral part of the consolidated financial statements. These estimates require the use of judgments and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses in the periods presented. We believe that the accounting estimates employed are appropriate and the resulting balances are reasonable; however, due to the inherent uncertainties in making estimates, actual results could differ from the original estimates, requiring adjustments to these balances in future periods. GM Financial The amounts presented for GM Financial have been adjusted to include the effect of our tax attributes on GM Financial's deferred tax positions and provision for income taxes, which are not applicable to GM Financial on a stand-alone basis, and to eliminate the effect of transactions between GM Financial and the other members of the consolidated group. Accordingly, the amounts presented will differ from those presented by GM Financial on a stand-alone basis. UI AA D G Cumulativ Retained Accumulat e Effect, EarningsCu ed Other Noncontro Additional Accumulat lling Consolidated Statements Of Equity - USD ($) $ in Millions Period of Preferred mulative Comprehendontro Total Common Paid-in Retained ed Other Adoption, Stock Effect, Stock nsive lling InterestsPr Capital Earnings Comprehe Adjustmen Period of LossCumul Interests eferred nsive Loss Adoption, ative Stock P Adinstman Effort Balance at beginning of period at Dec. 31, 2017 $ 36,200 $ (1,144) $ 14 $ 25,371 $ 17,627 $ (1,046) $ (8,011) $ (98) $ 1,199 W N Net income 8,005 8,014 (9) Other comprehensive income (loss) (936) (930) (6) Purchase of common stock (190) 0 (91) (99) Issuance of subsidiary preferred stock (Note 20) $ 2,862 $ 2,862 Stock based compensation 287 287 0 Cash dividends paid on common stock (2,144) (2,144) 9 Dividends to noncontrolling interests (169) (169) 10 Other 6 (4) 30 40 11 Balance at end of period at Dec. 31, 2018 42,777 14 25,563 22,322 (9,039) 3,917 12 Net income 6,667 6,732 (65) 13 Other comprehensive income (loss) (2,128) (2,117) (11) 14 Issuance of subsidiary preferred stock (Note 20) 457 457 15 Stock based compensation 375 409 (34) 16 Cash dividends paid on common stock (2,165) (2,165) 17 Dividends to noncontrolling interests (166) (166) 18 Other 140 102 5 33 19 Balance at end of period at Dec. 31, 2019 45,957 $ (660) 14 26,074 26,860 $ (660) (11,156) 4,165 20 Net income 6,321 6,427 (106) 21 Other comprehensive income (loss) (2,318) (2,332) 14 22 Purchase of common stock (90) (57) (33) 23 Issuance of subsidiary preferred stock (Note 20) $ 544 $ 544 24 Stock based compensation 515 525 (10) 25 Cash dividends paid on common stock (545) 545) 26 Dividends to noncontrolling interests (46) (46) 27 Other (1) 0 (77) 76 28 Balance at end of period at Dec. 31, 2020 $ 49,677 $ 14 $ 26,542 $ 31,962 $ (13,488) $ 4,647 29 30