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GM Financial Receivables and Transactions (Tables) - GM Financial

9 Months Ended

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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