The following tables summarize information related to commitments and contingencies (dollars in millions): | | | | | | | | | | | | | | | | | | March 31, 2012 | | December 31, 2011 | | Liability Recorded | | Maximum Liability(a) | | Liability Recorded | | Maximum Liability(a) | Guarantees(b) | | | | | | | | Operating leases | $ | — |
| | $ | 9 |
| | $ | — |
| | $ | 26 |
| Ally Financial commercial loans | $ | — |
| | $ | 28 |
| | $ | — |
| | $ | 24 |
| Third party commercial loans and other obligations | $ | 8 |
| | $ | 279 |
| | $ | 7 |
| | $ | 210 |
| Other product-related claims | $ | 54 |
| | $ | 773 |
| | $ | 53 |
| | $ | 838 |
|
__________ | | (a) | Calculated as future undiscounted payments. |
| | (b) | Excludes residual support and risk sharing programs and vehicle repurchase obligations related to Ally Financial. |
| | | | | | | | | | March 31, 2012 | | December 31, 2011 | | Liability Recorded | | Liability Recorded | Environmental liability(a) | $ | 171 |
| | $ | 169 |
| Product liability | $ | 547 |
| | $ | 514 |
| Other litigation-related liability and tax administrative matters(b) | $ | 1,274 |
| | $ | 1,196 |
|
__________ | | (a) | Includes $32 million and $34 million recorded in Accrued liabilities at March 31, 2012 and December 31, 2011 and the remainder was recorded in Other liabilities and deferred income taxes. |
| | (b) | Consists primarily of indirect tax-related litigation as well as various non-U.S. labor related matters. |
|