Automotive and GM Financial Debt (Tables)
|
12 Months Ended |
Dec. 31, 2018 |
|---|
| Interest expense |
| | | | | | | | | | | | | | Years Ended December 31, |
| 2018 |
| 2017 |
| 2016 | Automotive interest expense | $ | 655 |
|
| $ | 575 |
|
| $ | 563 |
| Automotive Financing - GM Financial interest expense | 3,225 |
|
| 2,566 |
|
| 1,972 |
| Total interest expense | $ | 3,880 |
|
| $ | 3,141 |
|
| $ | 2,535 |
|
|
| Schedule of maturities of long-term debt |
The following table summarizes contractual maturities including capital leases at December 31, 2018: | | | | | | | | | | | | |
| Automotive | | Automotive Financing(a) | | Total | 2019 | $ | 949 |
|
| $ | 31,045 |
|
| $ | 31,994 |
| 2020 | 589 |
|
| 23,153 |
|
| 23,742 |
| 2021 | 505 |
|
| 15,038 |
|
| 15,543 |
| 2022 | 49 |
|
| 7,430 |
|
| 7,479 |
| 2023 | 1,544 |
|
| 5,083 |
|
| 6,627 |
| Thereafter | 10,826 |
|
| 9,937 |
|
| 20,763 |
|
| $ | 14,462 |
|
| $ | 91,686 |
|
| $ | 106,148 |
|
________ | | (a) | Secured debt, credit facilities and other unsecured debt are based on expected payoff date. Senior notes principal amounts are based on maturity. |
|
| Automotive [Member] |
|
| Debt carrying amount and fair value |
| | | | | | | | |
| December 31, 2018 |
| December 31, 2017 | Secured debt | $ | 143 |
|
| $ | 204 |
| Unsecured debt | 13,292 |
|
| 12,579 |
| Capital leases | 528 |
|
| 719 |
| Total automotive debt(a) | $ | 13,963 |
|
| $ | 13,502 |
|
| | | | Fair value utilizing Level 1 inputs | $ | 11,693 |
|
| $ | 13,202 |
| Fair value utilizing Level 2 inputs | 1,838 |
|
| 1,886 |
| Fair value of automotive debt | $ | 13,531 |
|
| $ | 15,088 |
| | | | | Available under credit facility agreements | $ | 14,167 |
| | $ | 14,067 |
| Interest rate range on outstanding debt(b) | 0.0-18.5% |
| | 0.0-21.8% |
| Weighted-average interest rate on outstanding short-term debt(b) | 6.6 | % | | 4.7 | % | Weighted-average interest rate on outstanding long-term debt(b) | 5.2 | % | | 5.2 | % |
__________ | | (a) | Includes net discount and debt issuance costs of $499 million at December 31, 2018 and 2017. |
| | (b) | Includes coupon rates on debt denominated in various foreign currencies and interest free loans and the impact of reclassification of $1.5 billion of senior unsecured notes from long-term to short-term in the year ended December 31, 2017. |
|
| GM Financial [Member] |
|
| Debt carrying amount and fair value |
| | | | | | | | | | | | | | | | |
| December 31, 2018 |
| December 31, 2017 |
| Carrying Amount | | Fair Value | | Carrying Amount | | Fair Value | Secured debt | $ | 42,835 |
|
| $ | 42,835 |
|
| $ | 39,887 |
|
| $ | 39,948 |
| Unsecured debt | 48,153 |
|
| 47,556 |
|
| 40,830 |
|
| 41,989 |
| Total GM Financial debt | $ | 90,988 |
|
| $ | 90,391 |
|
| $ | 80,717 |
|
| $ | 81,937 |
| | | | | | | | | Fair value utilizing Level 2 inputs | | | $ | 88,305 |
| | | | $ | 79,623 |
| Fair value utilizing Level 3 inputs | | | $ | 2,086 |
| | | | $ | 2,314 |
|
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