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Debt (Tables)

12 Months Ended

Dec. 31, 2021

Interest expense

			Years Ended December 31,
			2021						2020						2019
Automotive interest expense			$	950					$	1,098					$	782
Automotive Financing - GM Financial interest expense			2,546						3,023						3,641
Total interest expense			$	3,496					$	4,121					$	4,423

Schedule of maturities of long-term debt

The following table summarizes contractual maturities including finance leases at December 31, 2021:

			Automotive						Automotive Financing						Total
2022			$	463					$	33,333					$	33,796
2023			2,814						20,277						23,091
2024			84						13,317						13,401
2025			2,570						8,658						11,228
2026			57						6,081						6,138
Thereafter			11,342						10,871						22,213
			$	17,330					$	92,537					$	109,867

Automotive

Debt carrying amount and fair value

The following table presents debt in our automotive operations:

			December 31, 2021												December 31, 2020
			Carrying Amount						Fair Value						Carrying Amount						Fair Value
Secured debt			$	192					$	212					$	303					$	332
Unsecured debt(a)			16,277						19,995						16,929						20,988
Finance lease liabilities			349						362						237						256
Total automotive debt(b)			$	16,818					$	20,569					$	17,469					$	21,576
Fair value utilizing Level 1 inputs									$	19,085											$	19,826
Fair value utilizing Level 2 inputs									$	1,484											$	1,750
Available under credit facility agreements(c)									$	15,208											$	18,222
Weighted-average interest rate on outstanding short-term debt(d)									9.8		%										3.8		%
Weighted-average interest rate on outstanding long-term debt(d)									5.8		%										5.6		%

__________

(a)Primarily consists of senior notes.

(b)Includes net discount and debt issuance costs of $512 million and $540 million at December 31, 2021 and 2020.

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

(d)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, 2021												December 31, 2020
			Carrying Amount						Fair Value						Carrying Amount						Fair Value
Secured debt			$	39,338					$	39,401					$	39,982					$	40,380
Unsecured debt			53,223						54,357						52,443						54,568
Total GM Financial debt			$	92,561					$	93,758					$	92,425					$	94,948
Fair value utilizing Level 2 inputs									$	92,250											$	92,922
Fair value utilizing Level 3 inputs									$	1,508											$	2,026

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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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