GM realized an adjusted loss of $ 4.7 billion attributable to GMAC , as a result of its 49 percent equity interest for the year , and an adjusted loss of $ 1.9 billion for the fourth quarter . This excludes a fourth quarter net gain of $ 533 million related to GM 's portion of GMAC 's bond exchange gain that was largely offset by an impairment of GM 's investment in GMAC .