FACTBOX - General Motors before and after bankruptcy

DETROIT (Reuters) - A new General Motors emerged from bankruptcy on Friday, 40 days after it filed for court protection, as a leaner automaker pledging to win back consumers and pay back taxpayers.

The new GM, created from the old GM's strongest assets including Chevrolet and Cadillac, has a healthier balance sheet, lower labour costs, fewer brands and a significantly reduced break-even point.

Details of how GM's operations have changed follow.

* BALANCE SHEET

The new GM has U.S. debt of about $11 billion (6.8 billion pounds), which excludes preferred stock of $9 billion.

That represents a reduction of more than $40 billion in obligations that consist mostly of unsecured debt and a healthcare trust for union hourly retirees, known as VEBA.

* OWNERSHIP

The old GM was a publicly traded company.

The U.S. Treasury owns 60.8 percent of the new GM, the VEBA healthcare trust has a 17.5 percent stake, and Canada and Ontario governments 11.7 percent. The remaining 10 percent goes to the old GM to pay off unsecured creditors.