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GM Financial Receivables and Transactions (Tables) - GM Financial

3 Months Ended

Mar. 31, 2021

Finance Receivables [Line Items]

GM Financial Receivables

			March 31, 2021																		December 31, 2020
			Retail						Commercial(a)						Total						Retail						Commercial(a)						Total
GM Financial receivables, net of fees			$	53,397					$	6,710					$	60,107					$	51,288					$	8,682					$	59,970
Less: allowance for loan losses			(1,784)						(51)						(1,835)						(1,915)						(63)						(1,978)
GM Financial receivables, net			$	51,613					$	6,659					$	58,272					$	49,373					$	8,619					$	57,992
Fair value of GM Financial receivables utilizing Level 2 inputs															$	6,659																	$	8,619
Fair value of GM Financial receivables utilizing Level 3 inputs															$	53,524																	$	51,645

__________

(a)Net of dealer cash management balances of $1.5 billion and $1.4 billion at March 31, 2021 and December 31, 2020. Under the cash management program, subject to certain conditions, a dealer may choose to reduce the amount of interest on its floorplan line by making principal payments to GM Financial in advance.

Allowance for Loan Losses

			Three Months Ended
			March 31, 2021						March 31, 2020
Allowance for loan losses at beginning of period			$	1,978					$	944
Impact of adoption ASU 2016-13			—						801
Provision for loan losses			(26)						466
Charge-offs			(253)						(340)
Recoveries			150						156
Effect of foreign currency			(14)						(61)
Allowance for loan losses at end of period			$	1,835					$	1,966

Intercompany Transactions

The following table shows transactions between our Automotive segments and GM Financial. These amounts are presented in GM Financial's condensed consolidated balance sheets and statements of income.

			March 31, 2021						December 31, 2020
Condensed Consolidated Balance Sheets(a)
Commercial finance receivables, net due from GM consolidated dealers			$	313					$	398
Subvention receivable(b)			$	668					$	642
Commercial loan funding payable			$	61					$	23

			Three Months Ended
			March 31, 2021						March 31, 2020
Condensed Consolidated Statements of Income
Interest subvention earned on finance receivables			$	188					$	156
Leased vehicle subvention earned			$	721					$	805

__________

(a)All balance sheet amounts are eliminated upon consolidation.

(b)Our Automotive segments made cash payments to GM Financial for subvention of $1.0 billion and $1.1 billion in the three months ended March 31, 2021 and 2020.

Retail Finance Receivables

Finance Receivables [Line Items]

Finance Receivables Credit Quality

The following tables are consolidated summaries of the retail finance receivables by FICO score or its equivalent, determined at origination, for each vintage of the retail finance receivables portfolio at March 31, 2021 and December 31, 2020:

			Year of Origination																																				March 31, 2021
			2021						2020						2019						2018						2017						Prior						Total						Percent
Prime – FICO score 680 and greater			$	5,554					$	17,004					$	6,171					$	3,841					$	1,565					$	478					$	34,613					64.8		%
Near-prime – FICO score 620 to 679			1,167						3,377						1,870						1,062						509						231						8,216						15.4		%
Sub-prime – FICO score less than 620			1,227						3,516						2,611						1,517						994						703						10,568						19.8		%
Retail finance receivables, net of fees			$	7,948					$	23,897					$	10,652					$	6,420					$	3,068					$	1,412					$	53,397					100.0		%

			Year of Origination																																										December 31, 2020
			2020						2019						2018						2017						2016						Prior												Total						Percent
Prime – FICO score 680 and greater			$	18,685					$	7,033					$	4,491					$	1,917					$	555					$	119											$	32,800					64.0		%
Near-prime – FICO score 620 to 679			3,695						2,097						1,232						603						225						83												7,935						15.4		%
Sub-prime – FICO score less than 620			3,803						2,920						1,740						1,173						610						307												10,553						20.6		%
Retail finance receivables, net of fees			$	26,183					$	12,050					$	7,463					$	3,693					$	1,390					$	509											$	51,288					100.0		%

Retail Finance Receivables Delinquency

The following tables are consolidated summaries of the delinquency status of the outstanding amortized cost of retail finance receivables for each vintage of the portfolio at March 31, 2021 and December 31, 2020, as well as summary totals for March 31, 2020:

			Year of Origination																																				March 31, 2021												March 31, 2020
			2021						2020						2019						2018						2017						Prior						Total						Percent						Total						Percent
0-to-30 days			$	7,934					$	23,640					$	10,363					$	6,218					$	2,927					$	1,285					$	52,367					98.1		%				$	40,856					96.2		%
31-to-60 days			13						179						204						148						104						93						741						1.4		%				1,157						2.7		%
Greater-than-60 days			1						68						75						48						34						31						257						0.5		%				441						1.1		%
Finance receivables more than 30 days delinquent			14						247						279						196						138						124						998						1.9		%				1,598						3.8		%
In repossession			—						10						10						6						3						3						32						—		%				20						—		%
Finance receivables more than 30 days delinquent or in repossession			14						257						289						202						141						127						1,030						1.9		%				1,618						3.8		%
Retail finance receivables, net of fees			$	7,948					$	23,897					$	10,652					$	6,420					$	3,068					$	1,412					$	53,397					100.0		%				$	42,474					100.0		%

			Year of Origination																																				December 31, 2020
			2020						2019						2018						2017						2016						Prior												Total						Percent
0-to-30 days			$	25,894					$	11,591					$	7,131					$	3,454					$	1,249					$	421											$	49,740					97.0		%
31-to-60 days			210						325						235						170						102						61												1,103						2.1		%
Greater-than-60 days			72						123						90						64						37						26												412						0.8		%
Finance receivables more than 30 days delinquent			282						448						325						234						139						87												1,515						2.9		%
In repossession			7						11						7						5						2						1												33						0.1		%
Finance receivables more than 30 days delinquent or in repossession			289						459						332						239						141						88												1,548						3.0		%
Retail finance receivables, net of fees			$	26,183					$	12,050					$	7,463					$	3,693					$	1,390					$	509											$	51,288					100.0		%

Commercial Finance Receivables

Finance Receivables [Line Items]

Finance Receivables Credit Quality

The following tables summarize the credit risk profile by dealer risk rating of commercial finance receivables at March 31, 2021 and December 31, 2020:

			Year of Origination(a)																																										March 31, 2021
			Revolving						2021						2020						2019						2018						2017						Prior						Total						Percent
I			$	5,206					$	106					$	473					$	134					$	53					$	91					$	50					$	6,113					91.1		%
II			346						2						2						17						1						3						10						381						5.7		%
III			149						9						4						8						28						2						15						215						3.2		%
IV			1						—						—						—						—						—						—						1						—		%
Commercial finance receivables, net of fees			$	5,702					$	117					$	479					$	159					$	82					$	96					$	75					$	6,710					100.0		%

__________

(a)Floorplan advances comprise 94% of the total revolving balance. Dealer term loans are presented by year of origination.

			Year of Origination(a)																																										December 31, 2020
			Revolving						2020						2019						2018						2017						2016						Prior												Total						Percent
I			$	6,968					$	510					$	159					$	63					$	95					$	43					$	19											$	7,857					90.5		%
II			491						2						18						2						3						18						34												568						6.5		%
III			203						—						8						29						2						11						—												253						2.9		%
IV			—						—						—						—						—						—						4												4						0.1		%
Commercial finance receivables, net of fees			$	7,662					$	512					$	185					$	94					$	100					$	72					$	57											$	8,682					100.0		%

__________

(a)Floorplan advances comprise 97% of the total revolving balance. Dealer term loans are presented by year of origination.

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