GM Financial Receivables and Transactions (Tables) - GM Financial
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Finance Receivables [Line Items] |
|
| GM Financial Receivables |
| | | | | | | | | | | | | | | | | | | | | | | | |
| December 31, 2019 |
| December 31, 2018 |
| Retail |
| Commercial(a) |
| Total |
| Retail |
| Commercial(a) |
| Total | Finance receivables, collectively evaluated for impairment, net of fees | $ | 39,851 |
|
| $ | 11,595 |
|
| $ | 51,446 |
|
| $ | 38,220 |
|
| $ | 12,235 |
|
| $ | 50,455 |
| Finance receivables, individually evaluated for impairment, net of fees(b) | 2,378 |
|
| 76 |
|
| 2,454 |
|
| 2,348 |
|
| 41 |
|
| 2,389 |
| GM Financial receivables | 42,229 |
|
| 11,671 |
|
| 53,900 |
|
| 40,568 |
|
| 12,276 |
|
| 52,844 |
| Less: allowance for loan losses | (866 | ) |
| (78 | ) |
| (944 | ) |
| (844 | ) |
| (67 | ) |
| (911 | ) | GM Financial receivables, net | $ | 41,363 |
|
| $ | 11,593 |
|
| $ | 52,956 |
|
| $ | 39,724 |
|
| $ | 12,209 |
|
| $ | 51,933 |
| | | | | | | | | | | | | Fair value of GM Financial receivables utilizing Level 2 inputs | | | | | $ | 11,593 |
| | | | | | $ | 12,209 |
| Fair value of GM Financial receivables utilizing Level 3 inputs | | | | | $ | 41,973 |
| | | | | | $ | 39,430 |
|
__________ | | (a) | Net of dealer cash management balances of $1.2 billion and $922 million at December 31, 2019 and 2018. Under the cash management program, subject to certain conditions, a dealer may choose to reduce the amount of interest on their floorplan line by making principal payments to GM Financial in advance. |
| | (b) | The allowance for loan losses included $330 million and $321 million of specific allowances on retail receivables at December 31, 2019 and 2018. |
| | | | | | | | | | | | |
| Years Ended December 31, |
| 2019 |
| 2018 |
| 2017 | Allowance for loan losses at beginning of period | $ | 911 |
|
| $ | 942 |
|
| $ | 805 |
| Provision for loan losses | 726 |
|
| 642 |
|
| 757 |
| Charge-offs | (1,246 | ) |
| (1,199 | ) |
| (1,173 | ) | Recoveries | 551 |
|
| 536 |
|
| 552 |
| Effect of foreign currency | 2 |
|
| (10 | ) |
| 1 |
| Allowance for loan losses at end of period | $ | 944 |
|
| $ | 911 |
|
| $ | 942 |
|
|
| Allowance for Loan Losses |
| | | | | | | | | | | | |
| Years Ended December 31, |
| 2019 |
| 2018 |
| 2017 | Allowance for loan losses at beginning of period | $ | 911 |
|
| $ | 942 |
|
| $ | 805 |
| Provision for loan losses | 726 |
|
| 642 |
|
| 757 |
| Charge-offs | (1,246 | ) |
| (1,199 | ) |
| (1,173 | ) | Recoveries | 551 |
|
| 536 |
|
| 552 |
| Effect of foreign currency | 2 |
|
| (10 | ) |
| 1 |
| Allowance for loan losses at end of period | $ | 944 |
|
| $ | 911 |
|
| $ | 942 |
|
|
| Intercompany Transactions |
| | | | | | | | | | December 31, 2019 | | December 31, 2018 | Consolidated Balance Sheets(a) | | | | Commercial finance receivables, net due from GM consolidated dealers | $ | 478 |
| | $ | 445 |
| Direct-financing lease receivables from GM subsidiaries | $ | 39 |
| | $ | 134 |
| Subvention receivable(b) | $ | 676 |
| | $ | 727 |
| Commercial loan funding payable | $ | 74 |
| | $ | 61 |
|
| | | | | | | | | | | | | | Years Ended December 31, | | 2019 | | 2018 | | 2017 | Consolidated Statements of Income | | | | | | Interest subvention earned on finance receivables | $ | 588 |
| | $ | 554 |
| | $ | 492 |
| Leased vehicle subvention earned | $ | 3,273 |
| | $ | 3,274 |
| | $ | 3,046 |
|
__________ | | (a) | All balance sheet amounts are eliminated upon consolidation. |
(b) Our Automotive segments made cash payments to GM Financial for subvention of $4.1 billion, $3.8 billion, and $4.3 billion in the years ended December 31, 2019, 2018 and 2017.
|
| Retail Finance Receivables |
|
| Finance Receivables [Line Items] |
|
| Retail Finance Receivables Delinquency |
The following table summarizes the contractual amount of delinquent retail finance receivables, which is not significantly different than the recorded investment of the retail finance receivables: | | | | | | | | | | | | | | |
| December 31, 2019 | | December 31, 2018 |
| Amount | | Percent of Contractual Amount Due | | Amount | | Percent of Contractual Amount Due | 31-to-60 days delinquent | $ | 1,354 |
|
| 3.2 | % |
| $ | 1,349 |
|
| 3.3 | % | Greater-than-60 days delinquent | 542 |
|
| 1.3 | % |
| 547 |
|
| 1.4 | % | Total finance receivables more than 30 days delinquent | 1,896 |
|
| 4.5 | % |
| 1,896 |
|
| 4.7 | % | In repossession | 44 |
|
| 0.1 | % |
| 44 |
|
| 0.1 | % | Total finance receivables more than 30 days delinquent or in repossession | $ | 1,940 |
|
| 4.6 | % |
| $ | 1,940 |
|
| 4.8 | % |
|
| Commercial Finance Receivables |
|
| Finance Receivables [Line Items] |
|
| Commercial Finance Receivables Credit Quality |
The following table summarizes the credit risk profile by dealer risk rating of the commercial finance receivables: | | | | | | | | | | |
| December 31, 2019 | | December 31, 2018 | Group I | – Dealers with superior financial metrics | $ | 1,942 |
| | $ | 2,192 |
| Group II | – Dealers with strong financial metrics | 4,552 |
| | 4,399 |
| Group III | – Dealers with fair financial metrics | 3,711 |
| | 4,064 |
| Group IV | – Dealers with weak financial metrics | 968 |
| | 1,116 |
| Group V | – Dealers warranting special mention due to elevated risks | 370 |
| | 422 |
| Group VI | – Dealers with loans classified as substandard, doubtful or impaired | 128 |
|
| 83 |
| |
| $ | 11,671 |
| | $ | 12,276 |
|
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