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GM Financial Receivables and Transactions (Tables) - GM Financial | 9 Months Ended
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Sep. 30, 2024
Finance Receivables [Line Items] |
Schedule of GM Financial Receivables |
| September 30, 2024 |  | December 31, 2023
| Retail |  | Commercial(a) |  | Total |  | Retail |  | Commercial(a) |  | Total
GM Financial receivables | $ | 74,384 |  |  | $ | 18,375 |  |  | $ | 92,759 |  |  | $ | 72,729 |  |  | $ | 13,734 |  |  | $ | 86,463 |
Less: allowance for loan losses | (2,323) |  |  | (54) |  |  | (2,377) |  |  | (2,308) |  |  | (36) |  |  | (2,344) |
GM Financial receivables, net | $ | 72,060 |  |  | $ | 18,321 |  |  | $ | 90,382 |  |  | $ | 70,421 |  |  | $ | 13,698 |  |  | $ | 84,119 |
Fair value of GM Financial receivables utilizing Level 2 inputs |  |  |  |  | $ | 18,321 |  |  |  |  |  |  | $ | 13,698 |
Fair value of GM Financial receivables utilizing Level 3 inputs |  |  |  |  | $ | 73,614 |  |  |  |  |  |  | $ | 70,911 |
__________ (a)Commercial finance receivables include dealer financing of $17.8 billion and $13.3 billion, and other financing of $531 million and $476 million at September 30, 2024 and December 31, 2023. Commercial finance receivables are presented net of dealer cash management balances of $3.2 billion and $2.6 billion at September 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.
Schedule of Allowance for Loan Losses |
| Three Months Ended |  | Nine Months Ended
| September 30, 2024 |  | September 30, 2023 |  | September 30, 2024 |  | September 30, 2023
Allowance for loan losses at beginning of period | $ | 2,311 |  |  | $ | 2,202 |  |  | $ | 2,344 |  |  | $ | 2,096 |
Provision for loan losses | 298 |  |  | 235 |  |  | 676 |  |  | 533 |
Charge-offs | (439) |  |  | (366) |  |  | (1,255) |  |  | (1,012) |
Recoveries | 217 |  |  | 196 |  |  | 653 |  |  | 574 |
Effect of foreign currency and other | (10) |  |  | (8) |  |  | (40) |  |  | 67 |
Allowance for loan losses at end of period | $ | 2,377 |  |  | $ | 2,258 |  |  | $ | 2,377 |  |  | $ | 2,258 |
Schedule of 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.
| September 30, 2024 |  | December 31, 2023
Condensed Consolidated Balance Sheets(a) |  |  |
Commercial finance receivables due from GM consolidated dealers | $ | 208 |  |  | $ | 164 |
Commercial finance receivables due from Cruise | $ | 395 |  |  | $ | 353 |
Subvention receivable from GM(b) | $ | 350 |  |  | $ | 508 |
Commercial loan funding payable to GM | $ | 96 |  |  | $ | 55 |
| Three Months Ended |  | Nine Months Ended
| September 30, 2024 |  | September 30, 2023 |  | September 30, 2024 |  | September 30, 2023
Condensed Consolidated Statements of Income |  |  |  |  |  |  |
Interest subvention earned on finance receivables | $ | 345 |  |  | $ | 319 |  |  | $ | 1,026 |  |  | $ | 906 |
Leased vehicle subvention earned | $ | 385 |  |  | $ | 382 |  |  | $ | 1,108 |  |  | $ | 1,165 |
__________ (a)All balance sheet amounts are eliminated upon consolidation. (b)Our Automotive segments made cash payments to GM Financial for subvention of $1.2 billion and $629 million in the three months ended September 30, 2024 and 2023 and $2.9 billion and $2.3 billion in the nine months ended September 30, 2024 and 2023.
Retail Finance Receivables |
Finance Receivables [Line Items] |
Schedule of 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, 2024 and December 31, 2023:
| Year of Origination |  | September 30, 2024
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Total |  | Percent
Prime – FICO score 680 and greater | $ | 17,609 |  |  | $ | 17,704 |  |  | $ | 11,118 |  |  | $ | 6,255 |  |  | $ | 3,084 |  |  | $ | 544 |  |  | $ | 56,315 |  |  | 75.7 | %
Near-prime – FICO score 620 to 679 | 2,717 |  |  | 2,457 |  |  | 1,678 |  |  | 1,227 |  |  | 568 |  |  | 218 |  |  | 8,864 |  |  | 11.9 | %
Sub-prime – FICO score less than 620 | 2,752 |  |  | 2,326 |  |  | 1,758 |  |  | 1,311 |  |  | 639 |  |  | 419 |  |  | 9,205 |  |  | 12.4 | %
Retail finance receivables | $ | 23,078 |  |  | $ | 22,487 |  |  | $ | 14,553 |  |  | $ | 8,793 |  |  | $ | 4,291 |  |  | $ | 1,181 |  |  | $ | 74,384 |  |  | 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 | %
Schedule of 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, 2024 and December 31, 2023, as well as summary totals for September 30, 2023:
| Year of Origination |  | September 30, 2024 |  | September 30, 2023
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Total |  | Percent |  | Total |  | Percent
0-to-30 days | $ | 22,754 |  |  | $ | 21,853 |  |  | $ | 13,961 |  |  | $ | 8,328 |  |  | $ | 4,060 |  |  | $ | 1,021 |  |  | $ | 71,977 |  |  | 96.8 | % |  | $ | 69,735 |  |  | 97.3 | %
31-to-60 days | 231 |  |  | 442 |  |  | 419 |  |  | 338 |  |  | 171 |  |  | 117 |  |  | 1,718 |  |  | 2.3 | % |  | 1,424 |  |  | 2.0 | %
Greater-than-60 days | 81 |  |  | 167 |  |  | 155 |  |  | 116 |  |  | 55 |  |  | 41 |  |  | 616 |  |  | 0.8 | % |  | 488 |  |  | 0.7 | %
Finance receivables more than 30 days delinquent | 312 |  |  | 609 |  |  | 574 |  |  | 454 |  |  | 227 |  |  | 158 |  |  | 2,333 |  |  | 3.1 | % |  | 1,911 |  |  | 2.7 | %
In repossession | 13 |  |  | 25 |  |  | 18 |  |  | 11 |  |  | 4 |  |  | 2 |  |  | 73 |  |  | 0.1 | % |  | 58 |  |  | 0.1 | %
Finance receivables more than 30 days delinquent or in repossession | 325 |  |  | 634 |  |  | 592 |  |  | 465 |  |  | 231 |  |  | 160 |  |  | 2,407 |  |  | 3.2 | % |  | 1,969 |  |  | 2.7 | %
Retail finance receivables | $ | 23,078 |  |  | $ | 22,487 |  |  | $ | 14,553 |  |  | $ | 8,793 |  |  | $ | 4,291 |  |  | $ | 1,181 |  |  | $ | 74,384 |  |  | 100.0 | % |  | $ | 71,704 |  |  | 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] |
Schedule of Finance Receivables Credit Quality | The following tables summarize the dealer credit risk profile by dealer risk rating at September 30, 2024 and December 31, 2023:
| Year of Origination(a) |  | September 30, 2024 |
Dealer Risk Rating | Revolving |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Total |  | Percent |  |  |
I | $ | 15,542 |  |  | $ | 251 |  |  | $ | 228 |  |  | $ | 380 |  |  | $ | 256 |  |  | $ | 280 |  |  | $ | 27 |  |  | $ | 16,965 |  |  | 95.1 | % |  |  |
II | 453 |  |  | — |  |  | 4 |  |  | 26 |  |  | 3 |  |  | 1 |  |  | — |  |  | 487 |  |  | 2.7 | % |  |  |
III | 341 |  |  | 10 |  |  | 4 |  |  | — |  |  | 24 |  |  | — |  |  | 12 |  |  | 393 |  |  | 2.2 | % |  |  |
IV | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | % |  |  |
Balance at end of period | $ | 16,337 |  |  | $ | 261 |  |  | $ | 237 |  |  | $ | 406 |  |  | $ | 283 |  |  | $ | 281 |  |  | $ | 39 |  |  | $ | 17,844 |  |  | 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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