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Derivative Financial Instruments | 12 Months Ended
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Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract] |
Derivative Financial Instruments | Derivative Financial Instruments Automotive The following table presents the notional amounts of derivative financial instruments in our automotive operations:
| Fair Value Level |  | December 31, 2019 |  | December 31, 2018
Derivatives not designated as hedges(a) |  |  |  |  |
Foreign currency | 2 |  | $ | 5,075 |  |  | $ | 2,710 |
Commodity | 2 |  | 806 |  |  | 658 |
PSA Warrants(b) | 2 |  | 45 |  |  | 45 |
Total derivative financial instruments |  |  | $ | 5,926 |  |  | $ | 3,413 |
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(a) | The fair value of these derivative instruments at December 31, 2019 and 2018 and the gains/losses included in our consolidated income statements for the years ended December 31, 2019, 2018 and 2017 were insignificant, unless otherwise noted.
(b) | The fair value of the PSA warrants located in Other assets was $964 million and $827 million at December 31, 2019 and 2018. We recorded gains in Interest income and other non-operating income, net of $154 million and $116 million for the years ended December 31, 2019 and 2018, and an insignificant amount for the year ended December 31, 2017.
GM Financial The following table presents the notional amounts of GM Financial's derivative financial instruments:
| Fair Value Level |  | December 31, 2019 |  | December 31, 2018
|  |  | Notional |  | Fair Value of Assets |  | Fair Value of Liabilities |  | Notional |  | Fair Value of Assets |  | Fair Value of Liabilities
Derivatives designated as hedges(a) |  |  |  |  |  |  |  |  |  |  |  |  |
Fair value hedges |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps(b) | 2 |  | $ | 9,458 |  |  | $ | 234 |  |  | $ | 23 |  |  | $ | 9,533 |  |  | $ | 42 |  |  | $ | 231 |
Foreign currency swaps | 2 |  | 1,796 |  |  | 22 |  |  | 71 |  |  | 1,829 |  |  | 37 |  |  | 60 |
Cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate swaps | 2 |  | 590 |  |  | — |  |  | 6 |  |  | 768 |  |  | 8 |  |  | — |
Foreign currency swaps | 2 |  | 4,429 |  |  | 40 |  |  | 119 |  |  | 2,075 |  |  | 43 |  |  | 58 |
Derivatives not designated as hedges(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Interest rate contracts | 2 |  | 92,400 |  |  | 340 |  |  | 300 |  |  | 99,666 |  |  | 372 |  |  | 520 |
Total derivative financial instruments(c) |  |  | $ | 108,673 |  |  | $ | 636 |  |  | $ | 519 |  |  | $ | 113,871 |  |  | $ | 502 |  |  | $ | 869 |
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(a) | The gains/losses included in our consolidated income statements and statements of comprehensive income for the years ended December 31, 2019, 2018 and 2017 were insignificant, unless otherwise noted. Amounts accrued for interest payments in a net receivable position are included in Other assets. Amounts accrued for interest payments in a net payable position are included in Other liabilities.
(b) | The gains included in GM Financial interest, operating, and other expenses were $355 million and an insignificant amount for the years ended December 31, 2019 and 2018.
(c) | GM Financial held $210 million and an insignificant amount of collateral from counterparties available for netting against GM Financial's asset positions, and posted an insignificant amount and $451 million of collateral to counterparties available for netting against GM Financial's liability positions at December 31, 2019 and 2018.
The fair value for Level 2 instruments was derived using the market approach based on observable market inputs including quoted prices of similar instruments and foreign exchange and interest rate forward curves. The following amounts were recorded in the consolidated balance sheets related to items designated and qualifying as hedged items in fair value hedging relationships:
| December 31, 2019 |  | December 31, 2018
| Carrying Amount of Hedged Items |  | Cumulative Amount of Fair Value Hedging Adjustments(a) |  | Carrying Amount of Hedged Items |  | Cumulative Amount of Fair Value Hedging Adjustments(a)
GM Financial long-term debt(b) | $ | 20,397 |  |  | $ | (77 | ) |  | $ | 17,923 |  |  | $ | 459 |
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(a) | Includes an insignificant amount and $247 million of amortization remaining on hedged items for which hedge accounting has been discontinued at December 31, 2019 and 2018.
(b) The gains/losses for hedged items – interest rate swaps included in GM Financial interest, operating, and other expenses were a loss of $569 million and an insignificant amount for the years ended December 31, 2019 and 2018.

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- References No definition available. + Details
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- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 815 -URI http://asc.fasb.org/topic&trid=2229140 + Details
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