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GM Financial Receivables and Transactions (Tables) - GM Financial | 9 Months Ended
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Sep. 30, 2022
Finance Receivables [Line Items] |
GM Financial Receivables |
| September 30, 2022 |  | December 31, 2021
| Retail |  | Commercial(a) |  | Total |  | Retail |  | Commercial(a) |  | Total
GM Financial receivables, net of fees | $ | 63,461 |  |  | $ | 9,225 |  |  | $ | 72,686 |  |  | $ | 58,093 |  |  | $ | 6,609 |  |  | $ | 64,702 |
Less: allowance for loan losses | (2,044) |  |  | (42) |  |  | (2,086) |  |  | (1,839) |  |  | (47) |  |  | (1,886) |
GM Financial receivables, net | $ | 61,416 |  |  | $ | 9,183 |  |  | $ | 70,600 |  |  | $ | 56,254 |  |  | $ | 6,562 |  |  | $ | 62,816 |
Fair value of GM Financial receivables utilizing Level 2 inputs |  |  |  |  | $ | 9,183 |  |  |  |  |  |  | $ | 6,562 |
Fair value of GM Financial receivables utilizing Level 3 inputs |  |  |  |  | $ | 59,890 |  |  |  |  |  |  | $ | 57,613 |
__________ (a)Net of dealer cash management balances of $1.5 billion and $1.0 billion at September 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 |  | Nine Months Ended
| September 30, 2022 |  | September 30, 2021 |  | September 30, 2022 |  | September 30, 2021
Allowance for loan losses at beginning of period | $ | 2,027 |  |  | $ | 1,850 |  |  | $ | 1,886 |  |  | $ | 1,978 |
Provision for loan losses | 180 |  |  | 141 |  |  | 500 |  |  | 174 |
Charge-offs | (289) |  |  | (207) |  |  | (811) |  |  | (664) |
Recoveries | 173 |  |  | 133 |  |  | 511 |  |  | 429 |
Effect of foreign currency | (4) |  |  | (14) |  |  | — |  |  | (14) |
Allowance for loan losses at end of period | $ | 2,086 |  |  | $ | 1,903 |  |  | $ | 2,086 |  |  | $ | 1,903 |
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.
| September 30, 2022 |  | December 31, 2021
Condensed Consolidated Balance Sheets(a) |  |  |
Commercial finance receivables, net due from GM consolidated dealers | $ | 177 |  |  | $ | 163 |
Subvention receivable(b) | $ | 480 |  |  | $ | 282 |
Commercial loan funding payable | $ | 45 |  |  | $ | 26 |
| Three Months Ended |  | Nine Months Ended
| September 30, 2022 |  | September 30, 2021 |  | September 30, 2022 |  | September 30, 2021
Condensed Consolidated Statements of Income |  |  |  |  |  |  |
Interest subvention earned on finance receivables | $ | 260 |  |  | $ | 211 |  |  | $ | 715 |  |  | $ | 610 |
Leased vehicle subvention earned | $ | 456 |  |  | $ | 670 |  |  | $ | 1,503 |  |  | $ | 2,095 |
__________ (a)All balance sheet amounts are eliminated upon consolidation. (b)Our Automotive segments made cash payments to GM Financial for subvention of $732 million and $828 million in the three months ended September 30, 2022 and 2021 and $1.7 billion and $2.9 billion in the nine months ended September 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 September 30, 2022 and December 31, 2021:
| Year of Origination |  | September 30, 2022
| 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Total |  | Percent
Prime – FICO score 680 and greater | $ | 17,901 |  |  | $ | 14,587 |  |  | $ | 8,858 |  |  | $ | 2,614 |  |  | $ | 1,272 |  |  | $ | 311 |  |  | $ | 45,543 |  |  | 71.8 | %
Near-prime – FICO score 620 to 679 | 2,521 |  |  | 2,843 |  |  | 1,653 |  |  | 792 |  |  | 375 |  |  | 147 |  |  | 8,331 |  |  | 13.1 | %
Sub-prime – FICO score less than 620 | 2,615 |  |  | 3,019 |  |  | 1,785 |  |  | 1,195 |  |  | 591 |  |  | 382 |  |  | 9,587 |  |  | 15.1 | %
Retail finance receivables, net of fees | $ | 23,037 |  |  | $ | 20,449 |  |  | $ | 12,296 |  |  | $ | 4,601 |  |  | $ | 2,238 |  |  | $ | 840 |  |  | $ | 63,461 |  |  | 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 September 30, 2022 and December 31, 2021, as well as summary totals for September 30, 2021:
| Year of Origination |  | September 30, 2022 |  | September 30, 2021
| 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Total |  | Percent |  | Total |  | Percent
0-to-30 days | $ | 22,792 |  |  | $ | 19,917 |  |  | $ | 11,944 |  |  | $ | 4,359 |  |  | $ | 2,096 |  |  | $ | 729 |  |  | $ | 61,836 |  |  | 97.4 | % |  | $ | 56,086 |  |  | 97.7 | %
31-to-60 days | 183 |  |  | 381 |  |  | 256 |  |  | 179 |  |  | 106 |  |  | 81 |  |  | 1,185 |  |  | 1.9 | % |  | 989 |  |  | 1.7 | %
Greater-than-60 days | 54 |  |  | 133 |  |  | 87 |  |  | 58 |  |  | 33 |  |  | 29 |  |  | 394 |  |  | 0.6 | % |  | 315 |  |  | 0.5 | %
Finance receivables more than 30 days delinquent | 236 |  |  | 514 |  |  | 343 |  |  | 237 |  |  | 139 |  |  | 109 |  |  | 1,579 |  |  | 2.5 | % |  | 1,304 |  |  | 2.2 | %
In repossession | 9 |  |  | 18 |  |  | 9 |  |  | 5 |  |  | 3 |  |  | 2 |  |  | 46 |  |  | 0.1 | % |  | 34 |  |  | 0.1 | %
Finance receivables more than 30 days delinquent or in repossession | 245 |  |  | 532 |  |  | 352 |  |  | 242 |  |  | 142 |  |  | 111 |  |  | 1,625 |  |  | 2.6 | % |  | 1,338 |  |  | 2.3 | %
Retail finance receivables, net of fees | $ | 23,037 |  |  | $ | 20,449 |  |  | $ | 12,296 |  |  | $ | 4,601 |  |  | $ | 2,238 |  |  | $ | 840 |  |  | $ | 63,461 |  |  | 100.0 | % |  | $ | 57,424 |  |  | 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 September 30, 2022 and December 31, 2021:
| Year of Origination |  | September 30, 2022 |
| Revolving |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Total |  | Percent |  |  |
I | $ | 7,677 |  |  | $ | 387 |  |  | $ | 368 |  |  | $ | 365 |  |  | $ | 93 |  |  | $ | 40 |  |  | $ | 20 |  |  | $ | 8,950 |  |  | 97.0 | % |  |  |
II | 196 |  |  | 15 |  |  | 2 |  |  | — |  |  | 7 |  |  | — |  |  | — |  |  | 221 |  |  | 2.4 | % |  |  |
III | 50 |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | 55 |  |  | 0.6 | % |  |  |
IV | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | % |  |  |
Commercial finance receivables, net of fees | $ | 7,922 |  |  | $ | 403 |  |  | $ | 370 |  |  | $ | 365 |  |  | $ | 105 |  |  | $ | 40 |  |  | $ | 20 |  |  | $ | 9,225 |  |  | 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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