Derivative Financial Instruments

Automotive The following table presents the notional amounts based on fair value asset or liability positions of derivative financial instruments in our automotive operations:



	Fair Value Level	June 30, 2017		December 31, 2016
Derivatives designated as hedges(a)
Assets
Net investment hedges – foreign currency	2	$	1,583	$	—
Cash flow hedges
Foreign currency	2	—		803
Commodity	2	160		106
Total cash flow hedges		160		909
Total assets		$	1,743	$	909
Derivatives not designated as hedges(a)
Assets
Foreign currency	2	$	4,295	$	4,483
Commodity	2	723		1,061
Total assets		$	5,018	$	5,544
Liabilities
Foreign currency	2	$	2,173	$	470
Interest rate swaps	2	6,193		—
Commodity	2	307		181
Total liabilities		$	8,673	$	651

__________


(a)	The fair value of these derivative instruments at June 30, 2017 and December 31, 2016 as well as the gains/losses included in our condensed consolidated income statements and statements of comprehensive income for the three and six months ended June 30, 2017 and 2016 were insignificant.

GM Financial The following table presents the notional amounts based on fair value asset or liability positions of GM Financial's derivative financial instruments:



	Fair Value Level	June 30, 2017		December 31, 2016
Derivatives designated as hedges(a)
Assets
Fair value hedges – interest rate swaps	2	$	2,500	$	—
Cash flow hedges
Interest rate swaps	2/3	2,466		3,070
Foreign currency	2	855		—
Total cash flow hedges		3,321		3,070
Total assets		$	5,821	$	3,070
Liabilities
Fair value hedges – interest rate swaps(b)	2	$	8,854	$	7,700
Cash flow hedges
Interest rate swaps	2/3	456		500
Foreign currency	2	—		791
Total cash flow hedges		456		1,291
Total liabilities		$	9,310	$	8,991
Derivatives not designated as hedges(a)
Assets
Interest rate swaps	2/3	$	24,881	$	7,959
Interest rate caps and floors	2	15,347		9,698
Foreign currency	2	1,141		—
Total assets		$	41,369	$	17,657
Liabilities
Interest rate swaps	2/3	$	17,746	$	6,170
Interest rate caps and floors	2	17,714		12,146
Foreign currency	2	331		—
Total liabilities		$	35,791	$	18,316

__________


(a)	The fair value of these derivative instruments at June 30, 2017 and December 31, 2016 as well as the gains/losses included in our condensed consolidated income statements and statements of comprehensive income for the three and six months ended June 30, 2017 and 2016 were insignificant.


(b)	The fair value of these derivative instruments was $238 million and $276 million at June 30, 2017 and December 31, 2016.