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GM Financial Receivables and Transactions (Tables) - GM Financial

3 Months Ended

Mar. 31, 2022

Finance Receivables [Line Items]

GM Financial Receivables

			March 31, 2022																		December 31, 2021
			Retail						Commercial(a)						Total						Retail						Commercial(a)						Total
GM Financial receivables, net of fees			$	59,503					$	7,274					$	66,776					$	58,093					$	6,609					$	64,702
Less: allowance for loan losses			(1,884)						(44)						(1,928)						(1,839)						(47)						(1,886)
GM Financial receivables, net			$	57,618					$	7,230					$	64,848					$	56,254					$	6,562					$	62,816
Fair value of GM Financial receivables utilizing Level 2 inputs															$	7,230																	$	6,562
Fair value of GM Financial receivables utilizing Level 3 inputs															$	57,774																	$	57,613

__________

(a)Net of dealer cash management balances of $1.2 billion and $1.0 billion at March 31, 2022 and December 31, 2021. 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, 2022						March 31, 2021
Allowance for loan losses at beginning of period															$	1,886					$	1,978
Provision for loan losses															122						(26)
Charge-offs															(275)						(253)
Recoveries															177						150
Effect of foreign currency															18						(14)
Allowance for loan losses at end of period															$	1,928					$	1,835

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, 2022						December 31, 2021
Condensed Consolidated Balance Sheets(a)
Commercial finance receivables, net due from GM consolidated dealers			$	122					$	163
Subvention receivable(b)			$	357					$	282
Commercial loan funding payable			$	41					$	26

									Three Months Ended
															March 31, 2022						March 31, 2021
Condensed Consolidated Statements of Income
Interest subvention earned on finance receivables															$	221					$	188
Leased vehicle subvention earned															$	547					$	721

__________

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

(b)Our Automotive segments made cash payments to GM Financial for subvention of $439 million and $1.0 billion in the three months ended March 31, 2022 and 2021.

GM Financial's Board of Directors declared and paid dividends of $600 million on its common stock in the three months ended March 31, 2021.

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, 2022 and December 31, 2021:

			Year of Origination																																				March 31, 2022
			2022						2021						2020						2019						2018						Prior						Total						Percent
Prime – FICO score 680 and greater			$	6,019					$	17,792					$	11,121					$	3,540					$	1,912					$	655					$	41,039					69.0		%
Near-prime – FICO score 620 to 679			856						3,569						2,153						1,089						553						274						8,494						14.3		%
Sub-prime – FICO score less than 620			929						3,720						2,258						1,563						831						669						9,970						16.8		%
Retail finance receivables, net of fees			$	7,804					$	25,081					$	15,531					$	6,192					$	3,296					$	1,599					$	59,503					100.0		%

			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		%

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, 2022 and December 31, 2021, as well as summary totals for March 31, 2021:

			Year of Origination																																				March 31, 2022												March 31, 2021
			2022						2021						2020						2019						2018						Prior						Total						Percent						Total						Percent
0-to-30 days			$	7,788					$	24,672					$	15,197					$	5,934					$	3,139					$	1,448					$	58,179					97.8		%				$	52,367					98.1		%
31-to-60 days			15						298						246						192						119						113						983						1.7		%				741						1.4		%
Greater-than-60 days			—						95						79						59						34						34						302						0.5		%				257						0.5		%
Finance receivables more than 30 days delinquent			15						393						325						251						153						148						1,285						2.2		%				998						1.9		%
In repossession			—						16						9						7						3						3						39						0.1		%				32						—		%
Finance receivables more than 30 days delinquent or in repossession			15						409						334						258						157						150						1,324						2.2		%				1,030						1.9		%
Retail finance receivables, net of fees			$	7,804					$	25,081					$	15,531					$	6,192					$	3,296					$	1,599					$	59,503					100.0		%				$	53,397					100.0		%

			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		%

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, 2022 and December 31, 2021:

			Year of Origination																																										March 31, 2022
			Revolving						2022						2021						2020						2019						2018						Prior						Total						Percent
I			$	5,834					$	129					$	412					$	398					$	102					$	44					$	56					$	6,974					95.9		%
II			204						—						4						16						13						—						3						240						3.3		%
III			58						—						—						—						1						—						1						60						0.8		%
IV			—						—						—						—						—						—						—						—						—		%
Commercial finance receivables, net of fees			$	6,095					$	129					$	416					$	413					$	115					$	44					$	60					$	7,274					100.0		%

			Year of Origination																																										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		%

Floorplan advances comprise 94% of the total revolving balance at March 31, 2022 and December 31, 2021. Dealer term loans are presented by year of origination.

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