General Motors’ net income in 2012 fell 36% to $4.9 billion from a year earlier as Europe weakened and several onetime accounting items affected the company’s bottom line.
The company, whose fourth-quarter net income rose 89% to $892 million, announced that it will issue profit-sharing checks of up to $6,750 to its 49,000 hourly U.S. workers.
The payments, which are based on the company’s performance in North America, are about $250 less than the GM's previous profit-sharing checks.
GM's operating profit, which reflects its business operations without special items, rose 14% to $1.25 billion for the quarter and fell 5% to $7.9 billion for the full year.
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