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Finance Receivables, Net | 6 Months Ended
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Jun. 30, 2012
Finance Receivables, net [Abstract] |
Financing Receivables [Text Block] | GM Financial Finance Receivables, net In April 2012 GM Financial commenced commercial lending activities in the U.S. centered on floorplan financing of dealer vehicle inventory and dealer loans to finance dealer sites, facilities, facility improvements and working capital. These loans are made on a secured basis. The following table summarizes GM Financial finance receivables, net relating to consumer and commercial activities (dollars in millions):
| June 30, 2012 |  | December 31, 2011
Current | $ | 3,478 |  |  | $ | 3,251 |
Non-current | 6,552 |  |  | 5,911 |
Total GM Financial finance receivables, net | $ | 10,030 |  |  | $ | 9,162 |
The following table summarizes the components of GM Financial finance receivables, net (dollars in millions):
| June 30, 2012 |  | December 31, 2011
Pre-acquisition consumer finance receivables, outstanding balance | $ | 3,100 |  |  | $ | 4,366 |
Pre-acquisition consumer finance receivables, carrying amount | $ | 2,811 |  |  | $ | 4,027 |
Post-acquisition finance receivables, net of fees(a) | 7,468 |  |  | 5,314 |
Total finance receivables | 10,279 |  |  | 9,341 |
Less: allowance for loan losses on post-acquisition finance receivables | (249 | ) |  | (179 | )
Total GM Financial finance receivables, net | $ | 10,030 |  |  | $ | 9,162 |
________ (a) At June 30, 2012 the balance includes finance receivables and loans in connection with the commercial lending program of $128 million. The following table summarizes activity for finance receivables (dollars in millions):
| Three Months Ended |  | Six Months Ended
| June 30, 2012 |  | June 30, 2011 |  | June 30, 2012 |  | June 30, 2011
Pre-acquisition consumer finance receivables, carrying amount, beginning of period | $ | 3,358 |  |  | $ | 6,336 |  |  | $ | 4,027 |  |  | $ | 7,299 |
Post-acquisition finance receivables, beginning of period | 6,326 |  |  | 2,005 |  |  | 5,314 |  |  | 924 |
Loans originated or purchased(a) | 1,663 |  |  | 1,349 |  |  | 3,059 |  |  | 2,487 |
Charge-offs | (53 | ) |  | (6 | ) |  | (104 | ) |  | (8 | )
Principal collections and other(a) | (978 | ) |  | (859 | ) |  | (1,898 | ) |  | (1,711 | )
Change in carrying amount adjustment on the pre-acquisition finance receivables | (37 | ) |  | (131 | ) |  | (119 | ) |  | (297 | )
Balance at end of period | $ | 10,279 |  |  | $ | 8,694 |  |  | $ | 10,279 |  |  | $ | 8,694 |
________ (a) Includes finance receivables and loans originated of $174 million and principal collections of $46 million in connection with the commercial lending program for the three and six months ended June 30, 2012. The following table summarizes the carrying amount and estimated fair value of GM Financial finance receivables, net (dollars in millions):
| June 30, 2012 |  | December 31, 2011
| Carrying Amount |  | Fair Value |  | Carrying Amount |  | Fair Value
GM Financial finance receivables, net | $ | 10,030 |  |  | $ | 10,330 |  |  | $ | 9,162 |  |  | $ | 9,386 |
GM Financial determined the fair value of consumer finance receivables using Level 2 and Level 3 inputs within a cash flow model. The Level 3 inputs reflect assumptions regarding expected prepayments, deferrals, delinquencies, recoveries and charge-offs of the loans within the finance receivable portfolio. The cash flow model produces an estimated amortization schedule of the finance receivables which is the basis for the calculation of the series of cash flows that derive the fair value of the portfolio. The series of cash flows are calculated and discounted using a weighted-average cost of capital (WACC) using unobservable debt and equity percentages, an unobservable cost of equity and an observable cost of debt based on companies with a similar credit rating and maturity and maturity profile as the portfolio. Macroeconomic factors could negatively affect the credit performance of the portfolio and therefore could potentially affect the assumptions used in our cash flow model. Substantially all commercial finance receivables have variable interest rates and maturities of one year. Therefore, carrying amount is considered to be a reasonable estimate of fair value which is determined using Level 1 inputs. GM Financial purchases consumer finance contracts from automobile dealers without recourse, and accordingly, the dealer has no liability to GM Financial if the consumer defaults on the contract. Finance receivables are collateralized by vehicle titles and GM Financial has the right to repossess the vehicle in the event the consumer defaults on the payment terms of the contract. At June 30, 2012 and December 31, 2011 the accrual of finance charge income has been suspended on delinquent consumer finance receivables based on contractual amounts due of $412 million and $439 million. At June 30, 2012 there were no commercial finance receivables or loans on non-accrual status. GM Financial reviews its pre-acquisition portfolio for differences between contractual cash flows and the cash flows expected to be collected from its initial investment in the pre-acquisition portfolio to determine if the difference is attributable, at least, in part to credit quality. In the six months ended June 30, 2012 as a result of improvements in credit performance of the pre-acquisition portfolio, which resulted in an increase of expected cash flows of $170 million, GM Financial transferred this excess non-accretable discount to accretable yield. GM Financial will recognize this excess as finance charge income over the remaining life of the portfolio. The following table summarizes accretable yield (dollars in millions):
| Three Months Ended |  | Six Months Ended
| June 30, 2012 |  | June 30, 2011 |  | June 30, 2012 |  | June 30, 2011
Balance at beginning of period | $ | 768 |  |  | $ | 999 |  |  | $ | 737 |  |  | $ | 1,201 |
Accretion of accretable yield | (143 | ) |  | (181 | ) |  | (279 | ) |  | (383 | )
Transfer from non-accretable discount | 3 |  |  | 254 |  |  | 170 |  |  | 254 |
Balance at end of period | $ | 628 |  |  | $ | 1,072 |  |  | $ | 628 |  |  | $ | 1,072 |
The following table summarizes the allowance for post-acquisition loan losses on consumer finance receivables (dollars in millions):
| June 30, 2012 |  | December 31, 2011
Current | $ | 189 |  |  | $ | 136 |
Non-current | 60 |  |  | 43 |
Total allowance for post-acquisition loan losses | $ | 249 |  |  | $ | 179 |
The following table summarizes activity for the allowance for post-acquisition loan losses on consumer finance receivables (dollars in millions):
| Three Months Ended |  | Six Months Ended
| June 30, 2012 |  | June 30, 2011 |  | June 30, 2012 |  | June 30, 2011
Balance at beginning of period | $ | 208 |  |  | $ | 65 |  |  | $ | 179 |  |  | $ | 26 |
Provision for loan losses | 62 |  |  | 45 |  |  | 110 |  |  | 84 |
Charge-offs | (53 | ) |  | (6 | ) |  | (104 | ) |  | (8 | )
Recoveries | 32 |  |  | 4 |  |  | 64 |  |  | 6 |
Balance at end of period | $ | 249 |  |  | $ | 108 |  |  | $ | 249 |  |  | $ | 108 |
Credit Quality Consumer Finance Receivables Credit bureau scores, generally referred to as FICO scores, are determined during GM Financial's automotive loan origination process. The following table summarizes the credit risk profile of consumer finance receivables by FICO score band, determined at origination (dollars in millions):
| June 30, 2012 |  | December 31, 2011
FICO score less than 540 | $ | 2,631 |  |  | $ | 2,133 |
FICO score 540 to 599 | 4,632 |  |  | 4,167 |
FICO score 600 to 659 | 2,582 |  |  | 2,624 |
FICO score greater than 660 | 595 |  |  | 756 |
Balance at end of period(a) | $ | 10,440 |  |  | $ | 9,680 |
__________
(a) | Composed of the sum of pre-acquisition consumer finance receivables - outstanding balance and post-acquisition consumer finance receivables, net of fees.
Commercial Finance Receivables GM Financial's commercial finance receivables consist of dealer financings. A proprietary model is used to assign a risk rating to each dealer. A credit review of each dealer is performed at least annually and, if necessary, the dealer's risk rating is adjusted on the basis of the review. Delinquency Consumer Finance Receivables The following summarizes the contractual amount of consumer finance receivables, which is not materially different than the recorded investment, more than 30 days delinquent, but not yet in repossession, and in repossession, but not yet charged off (dollars in millions):
| June 30, 2012 |  | June 30, 2011
| Amount |  | Percent of Contractual Amount Due |  | Amount |  | Percent of Contractual Amount Due
Delinquent contracts |  |  |  |  |  |  |
31-to-60 days | $ | 428 |  |  | 4.1 | % |  | $ | 398 |  |  | 4.4 | %
Greater-than-60 days | 158 |  |  | 1.5 | % |  | 158 |  |  | 1.7 | %
Total finance receivables more than 30 days delinquent | 586 |  |  | 5.6 | % |  | 556 |  |  | 6.1 | %
In repossession | 25 |  |  | 0.3 | % |  | 23 |  |  | 0.3 | %
Total finance receivables more than 30 days delinquent and in repossession | $ | 611 |  |  | 5.9 | % |  | $ | 579 |  |  | 6.4 | %
An account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date such payment was contractually due. Delinquencies may vary from period to period based upon the average age of the portfolio, seasonality within the calendar year and economic factors. Commercial Finance Receivables At June 30, 2012 all commercial finance receivables were current with respect to payment status.

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- Definition The entire disclosure for financing receivables. Examples of financing receivables include, but are not limited to, loans, trade accounts receivables, notes receivable, credit cards, and receivables relating to a lessor's right(s) to payment(s) from a lease other than an operating lease that is recognized as assets. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2196772 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 14 -URI http://asc.fasb.org/extlink&oid=6951925&loc=SL6953791-111525 + Details
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