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Debt (Tables)

12 Months Ended

Dec. 31, 2020

Interest expense

			Years Ended December 31,
			2020						2019						2018
Automotive interest expense			$	1,098					$	782					$	655
Automotive Financing - GM Financial interest expense			3,023						3,641						3,225
Total interest expense			$	4,121					$	4,423					$	3,880

Schedule of maturities of long-term debt

The following table summarizes contractual maturities including finance leases at December 31, 2020:

			Automotive						Automotive Financing						Total
2021			$	1,276					$	35,742					$	37,018
2022			137						19,312						19,449
2023			2,593						15,267						17,860
2024			86						7,808						7,894
2025			2,578						6,609						9,187
Thereafter			11,339						7,277						18,616
			$	18,009					$	92,015					$	110,024

Automotive

Debt carrying amount and fair value

The following table presents debt in our automotive operations:

			December 31, 2020												December 31, 2019
			Carrying Amount						Fair Value						Carrying Amount						Fair Value
Secured debt			$	303					$	332					$	167					$	165
Unsecured debt			16,929						20,988						13,909						15,247
Finance lease liabilities			237						256						310						516
Total automotive debt(a)			$	17,469					$	21,576					$	14,386					$	15,928
Fair value utilizing Level 1 inputs									$	19,826											$	13,628
Fair value utilizing Level 2 inputs									$	1,750											$	2,300
Available under credit facility agreements(b)									$	18,222											$	17,285
Weighted-average interest rate on outstanding short-term debt(c)									3.8		%										4.9		%
Weighted-average interest rate on outstanding long-term debt(c)									5.6		%										5.4		%

__________

(a)Includes net discount and debt issuance costs of $540 million at December 31, 2020 and 2019.

(b)Excludes our 364-day, $2.0 billion facility designated for exclusive use by GM Financial.

(c)Includes coupon rates on debt denominated in various foreign currencies and interest free loans.

GM Financial

Debt carrying amount and fair value

The following table presents debt of GM Financial:

			December 31, 2020												December 31, 2019
			Carrying Amount						Fair Value						Carrying Amount						Fair Value
Secured debt			$	39,982					$	40,380					$	39,959					$	40,160
Unsecured debt			52,443						54,568						48,979						50,239
Total GM Financial debt			$	92,425					$	94,948					$	88,938					$	90,399
Fair value utilizing Level 2 inputs									$	92,922											$	88,481
Fair value utilizing Level 3 inputs									$	2,026											$	1,918

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-SubTopic 10
-Section 50
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-URI http://asc.fasb.org/extlink&oid=6802200&loc=d3e1835-112601

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