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GM Financial Receivables and Transactions (Tables) - GM Financial

12 Months Ended

Dec. 31, 2021

Finance Receivables [Line Items]

GM Financial Receivables

			December 31, 2021																		December 31, 2020
			Retail						Commercial(a)						Total						Retail						Commercial(a)						Total
GM Financial receivables			$	58,093					$	6,609					$	64,702					$	51,288					$	8,682					$	59,970
Less: allowance for loan losses			(1,839)						(47)						(1,886)						(1,915)						(63)						(1,978)
GM Financial receivables, net			$	56,254					$	6,562					$	62,816					$	49,373					$	8,619					$	57,992
Fair value of GM Financial receivables utilizing Level 2 inputs															$	6,562																	$	8,619
Fair value of GM Financial receivables utilizing Level 3 inputs															$	57,613																	$	51,645

__________

(a)Net of dealer cash management balances of $1.0 billion and $1.4 billion at December 31, 2021 and 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

			Years Ended December 31,
			2021						2020						2019
Allowance for loan losses at beginning of period			$	1,978					$	944					$	911
Impact of adoption ASU 2016-13			—						801						—
Provision for loan losses			248						881						726
Charge-offs			(897)						(1,169)						(1,246)
Recoveries			574						542						551
Effect of foreign currency			(17)						(21)						2
Allowance for loan losses at end of period			$	1,886					$	1,978					$	944

Intercompany Transactions

			December 31, 2021						December 31, 2020
Consolidated Balance Sheets(a)
Commercial finance receivables, net due from GM consolidated dealers			$	163					$	398
Subvention receivable(b)			$	282					$	642
Commercial loan funding payable			$	26					$	23

			Years Ended December 31,
			2021						2020						2019
Consolidated Statements of Income
Interest subvention earned on finance receivables			$	820					$	679					$	588
Leased vehicle subvention earned			$	2,702					$	3,042					$	3,273

__________

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

(b)Our Automotive segments made cash payments to GM Financial for subvention of $3.3 billion, $3.9 billion and $4.1 billion in the years ended December 31, 2021, 2020 and 2019.

Retail Finance Receivables

Finance Receivables [Line Items]

Summary of 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 December 31, 2021 and 2020:

			Year of Origination																																										December 31, 2021
			2021						2020						2019						2018						2017						Prior												Total						Percent
Prime – FICO score 680 and greater			$	19,729					$	12,408					$	4,078					$	2,298					$	763					$	143											$	39,419					67.9		%
Near-prime – FICO score 620 to 679			3,856						2,388						1,229						648						274						84												8,479						14.6		%
Sub-prime – FICO score less than 620			4,053						2,528						1,777						972						570						295												10,195						17.5		%
Retail finance receivables, net of fees			$	27,638					$	17,324					$	7,084					$	3,918					$	1,607					$	522											$	58,093					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 December 31, 2021 and 2020:

			Year of Origination																																				December 31, 2021
			2021						2020						2019						2018						2017						Prior												Total						Percent
0-to-30 days			$	27,270					$	16,945					$	6,772					$	3,721					$	1,478					$	440											$	56,626					97.5		%
31-to-60 days			273						276						230						147						97						60												1,083						1.8		%
Greater-than-60 days			83						93						76						46						30						21												349						0.6		%
Finance receivables more than 30 days delinquent			356						369						306						193						127						81												1,432						2.4		%
In repossession			12						10						6						4						2						1												35						0.1		%
Finance receivables more than 30 days delinquent or in repossession			368						379						312						197						129						82												1,467						2.5		%
Retail finance receivables, net of fees			$	27,638					$	17,324					$	7,084					$	3,918					$	1,607					$	522											$	58,093					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]

Summary of Finance Receivables Credit Quality

GM Financial's commercial risk model and risk rating categories are as follows:

Rating						Description
I						Performing accounts with strong to acceptable financial metrics with at least satisfactory capacity to meet financial commitments.
II						Performing accounts experiencing potential weakness in financial metrics and repayment prospects resulting in increased monitoring.
III						Non-Performing accounts with inadequate paying capacity for current obligations and have the distinct possibility of creating a loss if deficiencies are not corrected.
IV						Non-Performing accounts with inadequate paying capacity for current obligations and inherent weaknesses that make collection of liquidation in full highly questionable or improbable.

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

			Year of Origination(a)																																										December 31, 2021
			Revolving						2021						2020						2019						2018						2017						Prior												Total						Percent
I			$	5,210					$	420					$	396					$	120					$	50					$	50					$	10											$	6,256					94.7		%
II			207						3						16						12						—						3						—												241						3.6		%
III			81						8						15						2						—						2						4												112						1.7		%
IV			—						—						—						—						—						—						—												—						—		%
Commercial finance receivables, net of fees			$	5,498					$	431					$	427					$	134					$	50					$	55					$	14											$	6,609					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		%

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