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GM Financial Receivables and Transactions (Tables) - GM Financial

6 Months Ended

Jun. 30, 2022

Finance Receivables [Line Items]

GM Financial Receivables

			June 30, 2022																		December 31, 2021
			Retail						Commercial(a)						Total						Retail						Commercial(a)						Total
GM Financial receivables, net of fees			$	61,208					$	7,526					$	68,733					$	58,093					$	6,609					$	64,702
Less: allowance for loan losses			(1,987)						(40)						(2,027)						(1,839)						(47)						(1,886)
GM Financial receivables, net			$	59,220					$	7,486					$	66,706					$	56,254					$	6,562					$	62,816
Fair value of GM Financial receivables utilizing Level 2 inputs															$	7,486																	$	6,562
Fair value of GM Financial receivables utilizing Level 3 inputs															$	58,528																	$	57,613

__________

(a)Net of dealer cash management balances of $1.3 billion and $1.0 billion at June 30, 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												Six Months Ended
			June 30, 2022						June 30, 2021						June 30, 2022						June 30, 2021
Allowance for loan losses at beginning of period			$	1,928					$	1,835					$	1,886					$	1,978
Provision for loan losses			198						59						320						33
Charge-offs			(247)						(204)						(521)						(457)
Recoveries			161						146						339						296
Effect of foreign currency			(14)						14						4						—
Allowance for loan losses at end of period			$	2,027					$	1,850					$	2,027					$	1,850

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.

			June 30, 2022						December 31, 2021
Condensed Consolidated Balance Sheets(a)
Commercial finance receivables, net due from GM consolidated dealers			$	133					$	163
Subvention receivable(b)			$	475					$	282
Commercial loan funding payable			$	41					$	26

			Three Months Ended												Six Months Ended
			June 30, 2022						June 30, 2021						June 30, 2022						June 30, 2021
Condensed Consolidated Statements of Income
Interest subvention earned on finance receivables			$	235					$	211					$	455					$	399
Leased vehicle subvention earned			$	500					$	704					$	1,047					$	1,425

__________

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

(b)Our Automotive segments made cash payments to GM Financial for subvention of $561 million and $1.0 billion in the three months ended June 30, 2022 and 2021 and $1.0 billion and $2.0 billion in the six months ended June 30, 2022 and 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 June 30, 2022 and December 31, 2021:

			Year of Origination																																				June 30, 2022
			2022						2021						2020						2019						2018						Prior						Total						Percent
Prime – FICO score 680 and greater			$	12,052					$	16,089					$	9,915					$	3,048					$	1,574					$	464					$	43,141					70.5		%
Near-prime – FICO score 620 to 679			1,704						3,183						1,883						932						459						204						8,366						13.7		%
Sub-prime – FICO score less than 620			1,826						3,323						1,986						1,356						699						512						9,701						15.8		%
Retail finance receivables, net of fees			$	15,582					$	22,595					$	13,784					$	5,337					$	2,732					$	1,179					$	61,208					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 June 30, 2022 and December 31, 2021, as well as summary totals for June 30, 2021:

			Year of Origination																																				June 30, 2022												June 30, 2021
			2022						2021						2020						2019						2018						Prior						Total						Percent						Total						Percent
0-to-30 days			$	15,468					$	22,088					$	13,426					$	5,076					$	2,577					$	1,046					$	59,681					97.5		%				$	55,187					97.9		%
31-to-60 days			88						369						262						193						117						99						1,129						1.8		%				856						1.5		%
Greater-than-60 days			23						118						87						62						35						31						355						0.6		%				286						0.5		%
Finance receivables more than 30 days delinquent			111						487						350						254						152						130						1,484						2.4		%				1,142						2.0		%
In repossession			3						19						9						6						3						3						43						0.1		%				28						0.1		%
Finance receivables more than 30 days delinquent or in repossession			114						506						358						260						155						133						1,527						2.5		%				1,170						2.1		%
Retail finance receivables, net of fees			$	15,582					$	22,595					$	13,784					$	5,337					$	2,732					$	1,179					$	61,208					100.0		%				$	56,357					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 June 30, 2022 and December 31, 2021:

			Year of Origination																																										June 30, 2022
			Revolving						2022						2021						2020						2019						2018						Prior						Total						Percent
I			$	5,954					$	339					$	390					$	387					$	99					$	42					$	38					$	7,249					96.3		%
II			184						15						1						—						12						—						2						214						2.8		%
III			59						1						2						—						1						—						—						63						0.8		%
IV			—						—						—						—						—						—						—						—						—		%
Commercial finance receivables, net of fees			$	6,197					$	355					$	392					$	387					$	112					$	42					$	40					$	7,526					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		%

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