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GM Financial Receivables and Transactions (Tables) - GM Financial

6 Months Ended

Jun. 30, 2024

Finance Receivables [Line Items]

GM Financial Receivables

			June 30, 2024																		December 31, 2023
			Retail						Commercial(a)						Total						Retail						Commercial(a)						Total
GM Financial receivables			$	73,335					$	16,506					$	89,841					$	72,729					$	13,734					$	86,463
Less: allowance for loan losses			(2,261)						(50)						(2,311)						(2,308)						(36)						(2,344)
GM Financial receivables, net			$	71,074					$	16,456					$	87,530					$	70,421					$	13,698					$	84,119
Fair value of GM Financial receivables utilizing Level 2 inputs															$	16,456																	$	13,698
Fair value of GM Financial receivables utilizing Level 3 inputs															$	71,552																	$	70,911

__________

(a)Commercial finance receivables include dealer financing of $16.1 billion and $13.3 billion, and other financing of $431 million and $476 million at June 30, 2024 and December 31, 2023. Commercial finance receivables are presented net of dealer cash management balances of $3.0 billion and $2.6 billion at June 30, 2024 and December 31, 2023. 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, 2024						June 30, 2023						June 30, 2024						June 30, 2023
Allowance for loan losses at beginning of period			$	2,355					$	2,152					$	2,344					$	2,096
Provision for loan losses			174						167						378						298
Charge-offs			(411)						(323)						(816)						(645)
Recoveries			222						191						435						378
Effect of foreign currency and other			(29)						14						(30)						74
Allowance for loan losses at end of period			$	2,311					$	2,202					$	2,311					$	2,202

Intercompany Transactions

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

			June 30, 2024						December 31, 2023
Condensed Consolidated Balance Sheets(a)
Commercial finance receivables due from GM consolidated dealers			$	226					$	164
Commercial finance receivables due from Cruise			$	395					$	353
Subvention receivable from GM(b)			$	558					$	508
Commercial loan funding payable to GM			$	83					$	55

			Three Months Ended												Six Months Ended
			June 30, 2024						June 30, 2023						June 30, 2024						June 30, 2023
Condensed Consolidated Statements of Income
Interest subvention earned on finance receivables			$	346					$	308					$	680					$	587
Leased vehicle subvention earned			$	359					$	389					$	723					$	782

__________

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

(b)Our Automotive segments made cash payments to GM Financial for subvention of $934 million and $915 million in the three months ended June 30, 2024 and 2023 and $1.7 billion in the six months ended June 30, 2024 and 2023.

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, 2024 and December 31, 2023:

			Year of Origination																																				June 30, 2024
			2024						2023						2022						2021						2020						Prior						Total						Percent
Prime – FICO score 680 and greater			$	11,725					$	19,600					$	12,532					$	7,131					$	3,651					$	772					$	55,411					75.6		%
Near-prime – FICO score 620 to 679			1,817						2,701						1,867						1,389						670						291						8,736						11.9		%
Sub-prime – FICO score less than 620			1,908						2,553						1,951						1,487						752						539						9,188						12.5		%
Retail finance receivables			$	15,450					$	24,854					$	16,350					$	10,007					$	5,073					$	1,602					$	73,335					100.0		%

			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			$	30,253					$	20,259					$	12,670					$	6,842					$	2,000					$	707											$	72,729					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, 2024 and December 31, 2023, as well as summary totals for June 30, 2023:

			Year of Origination																																				June 30, 2024												June 30, 2023
			2024						2023						2022						2021						2020						Prior						Total						Percent						Total						Percent
0-to-30 days			$	15,306					$	24,314					$	15,782					$	9,551					$	4,839					$	1,419					$	71,211					97.1		%				$	67,957					97.5		%
31-to-60 days			109						383						411						337						175						136						1,551						2.1		%				1,284						1.8		%
Greater-than-60 days			30						135						138						108						54						44						509						0.7		%				430						0.6		%
Finance receivables more than 30 days delinquent			140						518						549						445						229						179						2,060						2.8		%				1,714						2.5		%
In repossession			4						22						19						11						5						3						64						0.1		%				51						0.1		%
Finance receivables more than 30 days delinquent or in repossession			144						540						567						457						234						182						2,124						2.9		%				1,765						2.5		%
Retail finance receivables			$	15,450					$	24,854					$	16,350					$	10,007					$	5,073					$	1,602					$	73,335					100.0		%				$	69,722					100.0		%

			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			$	30,253					$	20,259					$	12,670					$	6,842					$	2,000					$	707											$	72,729					100.0		%

Commercial Finance Receivables

Finance Receivables [Line Items]

Finance Receivables Credit Quality

The following tables summarize the dealer credit risk profile by dealer risk rating at June 30, 2024 and December 31, 2023:

			Year of Origination(a)																																										June 30, 2024
Dealer Risk Rating			Revolving						2024						2023						2022						2021						2020						Prior						Total						Percent
I			$	14,056					$	102					$	235					$	384					$	268					$	286					$	35					$	15,365					95.6		%
II			332						—						3						22						—						1						—						358						2.2		%
III			301						4						5						—						24						—						18						352						2.2		%
IV			—						—						—						—						—						—						—						—						—		%
Balance at end of period			$	14,689					$	106					$	243					$	406					$	292					$	287					$	52					$	16,075					100.0		%

__________

(a)Floorplan advances comprise 99.4% of the total revolving balance. Dealer term loans are presented by year of origination.

			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		%

__________

(a)Floorplan advances comprise 99.7% of the total revolving balance. Dealer term loans are presented by year of origination.

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