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GM Financial Receivables and Transactions
 12 Months Ended
Dec. 31, 2024
GM Financial  
Finance Receivables [Line Items]  
GM Financial Receivables and Transactions GM Financial Receivables and Transactions
December 31, 2024December 31, 2023
RetailCommercial(a)TotalRetailCommercial(a)Total
GM Financial receivables$76,066 $19,228 $95,294 $72,729 $13,734 $86,463 
Less: allowance for loan losses(2,400)(58)(2,458)(2,308)(36)(2,344)
GM Financial receivables, net$73,667 $19,169 $92,836 $70,421 $13,698 $84,119 
Fair value of GM Financial receivables utilizing Level 2 inputs$19,169 $13,698 
Fair value of GM Financial receivables utilizing Level 3 inputs$74,729 $70,911 
__________
(a)Commercial finance receivables include dealer financing of $18.6 billion and $13.3 billion, and other financing of $604 million and $476 million at December 31, 2024 and 2023. Commercial finance receivables are presented net of dealer cash management balances of $3.4 billion and $2.6 billion at December 31, 2024 and 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.
Years Ended December 31,
202420232022
Allowance for loan losses at beginning of period$2,344 $2,096 $1,886 
Provision for loan losses1,029 826 654 
Charge-offs(1,756)(1,423)(1,138)
Recoveries903 768 686 
Effect of foreign currency and other(61)76 9 
Allowance for loan losses at end of period$2,458 $2,344 $2,096 

The allowance for loan losses as a percentage of finance receivables was 2.6% and 2.7% at December 31, 2024 and 2023.

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, 2024 and 2023:
Year of OriginationDecember 31, 2024
20242023202220212020PriorTotalPercent
Prime – FICO score 680 and greater$24,155 $15,814 $9,749 $5,424 $2,559 $366 $58,067 76.3 %
Near-prime – FICO score 620 to 6793,547 2,227 1,507 1,077 473 159 8,990 11.8 %
Sub-prime – FICO score less than 6203,399 2,059 1,546 1,141 543 322 9,008 11.8 %
Retail finance receivables$31,101 $20,100 $12,802 $7,642 $3,575 $847 $76,066 100.0 %
Year of OriginationDecember 31, 2023
20232022202120202019PriorTotalPercent
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 6793,234 2,281 1,746 906 350 129 8,647 11.9 %
Sub-prime – FICO score less than 6203,079 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 %

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 $958 million and $809 million at December 31, 2024 and 2023. 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, 2024 and 2023:
Year of OriginationDecember 31, 2024
20242023202220212020PriorTotalPercent
0-to-30 days$30,581 $19,411 $12,207 $7,178 $3,350 $710 $73,438 96.5 %
31-to-60 days374 481 425 340 166 99 1,885 2.5 %
Greater-than-60 days128 188 155 115 55 36 677 0.9 %
Finance receivables more than 30 days delinquent502 669 580 455 221 135 2,562 3.4 %
In repossession17 19 14 10 3 2 66 0.1 %
Finance receivables more than 30 days delinquent or in repossession519 689 595 464 225 136 2,628 3.5 %
Retail finance receivables$31,101 $20,100 $12,802 $7,642 $3,575 $847 $76,066 100.0 %
Year of OriginationDecember 31, 2023
20232022202120202019PriorTotalPercent
0-to-30 days$29,816 $19,602 $12,098 $6,533 $1,825 $599 $70,472 96.9 %
31-to-60 days318 470 415 227 130 78 1,637 2.3 %
Greater-than-60 days102 168 142 76 42 29 559 0.8 %
Finance receivables more than 30 days delinquent421 637 557 302 172 107 2,196 3.0 %
In repossession17 20 14 6 3 1 61 0.1 %
Finance receivables more than 30 days delinquent or in repossession437 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 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.

GM Financial's dealer risk model and risk rating categories are as follows:
RatingDescription
IPerforming accounts with strong to acceptable financial metrics with at least satisfactory capacity to meet financial commitments.
IIPerforming accounts experiencing potential weakness in financial metrics and repayment prospects resulting in increased monitoring.
IIINon-Performing accounts with inadequate paying capacity for current obligations and have the distinct possibility of creating a loss if deficiencies are not corrected.
IVNon-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, 2024 and 2023:
Year of Origination(a)December 31, 2024
Dealer Risk RatingRevolving20242023202220212020PriorTotalPercent
I$16,190 $321 $209 $360 $237 $267 $22 $17,606 94.5 %
II621 — 10 26 3 2 — 663 3.6 %
III305 10 4 — 22 — 12 354 1.9 %
IV1 — — — — — — 1 — %
Balance at end of period$17,117 $331 $223 $385 $263 $269 $35 $18,623 100.0 %
__________
(a)Floorplan advances comprise 99.5% of the total revolving balance. Dealer term loans are presented by year of origination.
Year of Origination(a)December 31, 2023
Dealer Risk RatingRevolving20232022202120202019PriorTotalPercent
I$11,513 $279 $403 $297 $301 $75 $11 $12,879 97.1 %
II182 — 2 2 — — — 187 1.4 %
III152 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.

There were no commercial finance receivables on nonaccrual status at December 31, 2024 and 2023.
Transactions with GM Financial The following tables show transactions between our Automotive segments, Cruise and GM Financial. These amounts are presented in GM Financial's consolidated balance sheets and statements of income.
December 31, 2024December 31, 2023
Consolidated Balance Sheets(a)
Commercial finance receivables due from GM consolidated dealers$279 $164 
Commercial finance receivables due from Cruise$395 $353 
Subvention receivable from GM(b)$360 $508 
Commercial loan funding payable to GM$100 $55 
Years Ended December 31,
202420232022
Consolidated Statements of Income
Interest subvention earned on finance receivables$1,385 $1,234 $984 
Leased vehicle subvention earned$1,511 $1,537 $1,916 
__________
(a)All balance sheet amounts are eliminated upon consolidation.
(b)Our Automotive segments made cash payments to GM Financial for subvention of $3.8 billion, $3.5 billion and $2.4 billion in the years ended December 31, 2024, 2023 and 2022.

GM Financial's Board of Directors declared and paid dividends on its common stock of $1.8 billion in the years ended December 31, 2024 and 2023 and $1.7 billion in the year ended December 31, 2022.