Debt (Tables)
|
12 Months Ended |
Dec. 31, 2019 |
|---|
| Interest expense |
| | | | | | | | | | | | | | Years Ended December 31, |
| 2019 |
| 2018 |
| 2017 | Automotive interest expense | $ | 782 |
|
| $ | 655 |
|
| $ | 575 |
| Automotive Financing - GM Financial interest expense | 3,641 |
|
| 3,225 |
|
| 2,566 |
| Total interest expense | $ | 4,423 |
|
| $ | 3,880 |
|
| $ | 3,141 |
|
|
| Schedule of maturities of long-term debt |
The following table summarizes contractual maturities including finance leases at December 31, 2019: | | | | | | | | | | | | |
| Automotive | | Automotive Financing(a) | | Total | 2020 | $ | 1,912 |
|
| $ | 35,587 |
|
| $ | 37,499 |
| 2021 | 535 |
|
| 20,690 |
|
| 21,225 |
| 2022 | 70 |
|
| 11,763 |
|
| 11,833 |
| 2023 | 1,546 |
|
| 7,038 |
|
| 8,584 |
| 2024 | 48 |
|
| 5,795 |
|
| 5,843 |
| Thereafter | 10,807 |
|
| 8,160 |
|
| 18,967 |
|
| $ | 14,918 |
|
| $ | 89,033 |
|
| $ | 103,951 |
|
________ (a) Secured debt, credit facilities and other unsecured debt are based on expected payoff date. Senior notes principal amounts are based on maturity.
|
| Automotive |
|
| Debt carrying amount and fair value |
The following table presents debt in our automotive operations: | | | | | | | | |
| December 31, 2019 |
| December 31, 2018 | Secured debt | $ | 167 |
|
| $ | 143 |
| Unsecured debt | 13,909 |
|
| 13,292 |
| Finance lease liabilities | 310 |
|
| 528 |
| Total automotive debt(a) | $ | 14,386 |
|
| $ | 13,963 |
|
| | | | Fair value utilizing Level 1 inputs | $ | 13,628 |
|
| $ | 11,693 |
| Fair value utilizing Level 2 inputs | 2,300 |
|
| 1,838 |
| Fair value of automotive debt | $ | 15,928 |
|
| $ | 13,531 |
| | | | | Available under credit facility agreements | $ | 17,285 |
| | $ | 14,167 |
| Weighted-average interest rate on outstanding short-term debt(b) | 4.9 | % | | 6.6 | % | Weighted-average interest rate on outstanding long-term debt(b) | 5.4 | % | | 5.2 | % |
__________ | | (a) | Includes net discount and debt issuance costs of $540 million and $499 million at December 31, 2019 and 2018. |
| | (b) | Includes coupon rates on debt denominated in various foreign currencies and interest free loans. |
|
| GM Financial |
|
| Debt carrying amount and fair value |
The following table presents debt of GM Financial: | | | | | | | | | | | | | | | | |
| December 31, 2019 |
| December 31, 2018 |
| Carrying Amount | | Fair Value | | Carrying Amount | | Fair Value | Secured debt | $ | 39,959 |
|
| $ | 40,160 |
|
| $ | 42,835 |
|
| $ | 42,835 |
| Unsecured debt | 48,979 |
|
| 50,239 |
|
| 48,153 |
|
| 47,556 |
| Total GM Financial debt | $ | 88,938 |
|
| $ | 90,399 |
|
| $ | 90,988 |
|
| $ | 90,391 |
| | | | | | | | | Fair value utilizing Level 2 inputs | | | $ | 88,481 |
| | | | $ | 88,305 |
| Fair value utilizing Level 3 inputs | | | $ | 1,918 |
| | | | $ | 2,086 |
|
|