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GIS » Topics » Net interest expense

This excerpt taken from the GIS 10-Q filed Sep 19, 2007.
Net interest expense for the quarter totaled $113.3 million, an $8.3 million increase from the first quarter of fiscal 2007. Average interest bearing instruments increased $765.3 million causing a $12.0 million increase in net interest expense, while average interest rates decreased 20 basis points causing a $3.7 million decrease in net interest expense. Average debt balances have increased to fund higher share repurchases and our repurchases of the Series B-1 interests of GMC and the Series A preferred stock of GM Capital in August 2007.

 

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