
	December 31, 2023						December 31, 2022
	Retail		Commercial(a)		Total		Retail		Commercial(a)		Total
GM Financial receivables	$	72,729	$	13,734	$	86,463	$	65,322	$	10,988	$	76,310
Less: allowance for loan losses	(2,308)		(36)		(2,344)		(2,062)		(34)		(2,096)
GM Financial receivables, net	$	70,421	$	13,698	$	84,119	$	63,260	$	10,954	$	74,214

Fair value of GM Financial receivables utilizing Level 2 inputs					$	13,698					$	10,954
Fair value of GM Financial receivables utilizing Level 3 inputs					$	70,911					$	62,150

(a)Commercial finance receivables include dealer financing of $13.3 billion and $10.6 billion, and other financing of $476 million and $362 million at December 31, 2023 and 2022. Commercial finance receivables are presented net of dealer cash management balances of $2.6 billion and $1.9 billion at December 31, 2023 and 2022. 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.


	Years Ended December 31,
	2023		2022		2021
Allowance for loan losses at beginning of period	$	2,096	$	1,886	$	1,978

Provision for loan losses	826		654		248
Charge-offs	(1,423)		(1,138)		(897)
Recoveries	768		686		574
Effect of foreign currency	76		9		(17)
Allowance for loan losses at end of period	$	2,344	$	2,096	$	1,886

Retail Finance Receivables GM Financial's retail finance receivable portfolio includes loans made to consumers and businesses to finance the purchase of vehicles for personal and commercial use. 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 December 31, 2023 and 2022:


	Year of Origination												December 31, 2023
	2023		2022		2021		2020		2019		Prior		Total		Percent
Prime – FICO score 680 and greater	$	23,940	$	15,581	$	9,039	$	4,926	$	1,076	$	320	$	54,882	75.5	%
Near-prime – FICO score 620 to 679	3,234		2,281		1,746		906		350		129		8,647		11.9	%
Sub-prime – FICO score less than 620	3,079		2,397		1,884		1,010		573		257		9,200		12.6	%
Retail finance receivables, net of fees	$	30,253	$	20,259	$	12,670	$	6,842	$	2,000	$	707	$	72,729	100.0	%


	Year of Origination												December 31, 2022
	2022		2021		2020		2019		2018		Prior		Total		Percent
Prime – FICO score 680 and greater	$	22,677	$	13,399	$	7,991	$	2,254	$	1,019	$	205	$	47,543	72.8	%
Near-prime – FICO score 620 to 679	3,202		2,601		1,487		688		310		104		8,392		12.8	%
Sub-prime – FICO score less than 620	3,211		2,746		1,604		1,051		496		280		9,388		14.4	%
Retail finance receivables, net of fees	$	29,090	$	18,745	$	11,081	$	3,992	$	1,824	$	589	$	65,322	100.0	%

GM Financial reviews the ongoing credit quality of retail finance receivables based on customer payment activity. A retail account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date the payment was contractually due. Retail finance receivables are collateralized by vehicle titles and, subject to local laws, GM Financial generally has the right to repossess the vehicle in the event the customer defaults on the payment terms of the contract. The accrual of finance charge income had been suspended on delinquent retail finance receivables with contractual amounts due of $809 million and $685 million at December 31, 2023 and 2022. 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 December 31, 2023 and 2022:


	Year of Origination												December 31, 2023
	2023		2022		2021		2020		2019		Prior			Total		Percent
0-to-30 days	$	29,816	$	19,602	$	12,098	$	6,533	$	1,825	$	599		$	70,472	96.9	%
31-to-60 days	318		470		415		227		130		78			1,637		2.3	%
Greater-than-60 days	102		168		142		76		42		29			559		0.8	%
Finance receivables more than 30 days delinquent	421		637		557		302		172		107			2,196		3.0	%
In repossession	17		20		14		6		3		1			61		0.1	%
Finance receivables more than 30 days delinquent or in repossession	437		657		572		308		175		108			2,257		3.1	%
Retail finance receivables, net of fees	$	30,253	$	20,259	$	12,670	$	6,842	$	2,000	$	707		$	72,729	100.0	%


	Year of Origination												December 31, 2022
	2022		2021		2020		2019		2018		Prior			Total		Percent
0-to-30 days	$	28,676	$	18,128	$	10,702	$	3,743	$	1,685	$	493		$	63,426	97.1	%
31-to-60 days	310		452		275		184		103		69			1,393		2.1	%
Greater-than-60 days	93		150		98		62		35		26			465		0.7	%
Finance receivables more than 30 days delinquent	403		603		373		246		138		95			1,857		2.8	%
In repossession	11		14		6		4		2		1			39		0.1	%
Finance receivables more than 30 days delinquent or in repossession	414		617		380		249		140		96			1,896		2.9	%
Retail finance receivables, net of fees	$	29,090	$	18,745	$	11,081	$	3,992	$	1,824	$	589		$	65,322	100.0	%

Commercial Finance Receivables GM Financial's commercial finance receivables consist of dealer financing, primarily for dealer inventory purchases, and other financing, which includes loans to commercial vehicle upfitters. For dealer financing, proprietary models are used to assign a risk rating to each dealer. GM Financial performs periodic credit reviews of each dealership and adjusts the dealership's risk rating, if necessary. The credit risk associated with other financing is limited due to the structure of the business relationships.


Rating						Description
I						Performing accounts with strong to acceptable financial metrics with at least satisfactory capacity to meet financial commitments.
II						Performing accounts experiencing potential weakness in financial metrics and repayment prospects resulting in increased monitoring.
III						Non-Performing accounts with inadequate paying capacity for current obligations and have the distinct possibility of creating a loss if deficiencies are not corrected.
IV						Non-Performing accounts with inadequate paying capacity for current obligations and inherent weaknesses that make collection of liquidation in full highly questionable or improbable.

Dealers with III and IV risk ratings are subject to additional monitoring and restrictions on funding, including suspension of lines of credit and liquidation of assets. The following tables summarize the dealer credit risk profile by dealer risk rating at December 31, 2023 and 2022:


	Year of Origination(a)														December 31, 2023
Dealer Risk Rating	Revolving		2023		2022		2021		2020		2019		Prior			Total		Percent
I	$	11,513	$	279	$	403	$	297	$	301	$	75	$	11		$	12,879	97.1	%
II	182		—		2		2		—		—		—			187		1.4	%
III	152		1		15		12		—		11		—			192		1.4	%
IV	—		—		—		—		—		—		—			—		—	%
Balance at end of period	$	11,846	$	281	$	421	$	311	$	301	$	86	$	11		$	13,257	100.0	%


	Year of Origination(a)														December 31, 2022
Dealer Risk Rating	Revolving		2022		2021		2020		2019		2018		Prior			Total		Percent
I	$	9,130	$	438	$	356	$	360	$	91	$	38	$	18		$	10,431	98.2	%
II	89		—		1		—		—		—		—			91		0.9	%
III	78		15		—		—		10		—		—			104		1.0	%
IV	—		—		—		—		—		—		—			—		—	%
Balance at end of period	$	9,297	$	453	$	357	$	360	$	102	$	38	$	18		$	10,625	100.0	%

Transactions with GM Financial The following tables show transactions between our Automotive segments and GM Financial. These amounts are presented in GM Financial's consolidated balance sheets and statements of income.


	December 31, 2023		December 31, 2022
Consolidated Balance Sheets(a)
Commercial finance receivables, net due from GM consolidated dealers	$	164	$	187
Receivables due from Cruise	$	353	$	113
Subvention receivable(b)	$	508	$	469
Commercial loan funding payable	$	55	$	105


	Years Ended December 31,
	2023		2022		2021
Consolidated Statements of Income
Interest subvention earned on finance receivables	$	1,234	$	984	$	820
Leased vehicle subvention earned	$	1,537	$	1,916	$	2,702

GM Financial's Board of Directors declared and paid dividends of $1.8 billion, $1.7 billion and $3.5 billion on its common stock in the years ended December 31, 2023, 2022 and 2021.