Debt (Tables)
|
3 Months Ended |
Mar. 31, 2020 |
|---|
| Debt Instrument [Line Items] |
|
| Schedule of maturities of long-term debt |
The following table summarizes contractual maturities including finance leases at March 31, 2020: | | | | | | | | | | | | | | Automotive | | Automotive Financing | | Total(a) | 2020 (April 1, 2020 to December 31, 2020) | $ | 1,551 |
| | $ | 36,122 |
| | $ | 37,673 |
| 2021 | 1,273 |
| | 23,383 |
| | 24,656 |
| 2022(b) | 5,129 |
| | 12,839 |
| | 17,968 |
| 2023 | 12,007 |
| | 7,396 |
| | 19,403 |
| 2024 | 62 |
| | 5,866 |
| | 5,928 |
| 2025 | 532 |
| | 5,003 |
| | 5,535 |
| Thereafter | 10,240 |
| | 5,171 |
| | 15,411 |
| | $ | 30,794 |
| | $ | 95,780 |
| | $ | 126,574 |
|
________ | | (a) | Secured debt, credit facilities and other unsecured debt are based on expected payoff date. Senior notes principal amounts are based on maturity. |
(b) Automotive amount includes $3.0 billion drawn on our three-year, $4.0 billion facility renewed in April 2020 for an additional year expiring in April 2022.
|
| Automotive [Member] |
|
| Debt Instrument [Line Items] |
|
| Debt carrying amount and fair value |
The following table presents debt in our automotive operations: | | | | | | | | | | | | | | | | |
| March 31, 2020 | | December 31, 2019 | | Carrying Amount | | Fair Value | | Carrying Amount | | Fair Value | Secured Debt | $ | 123 |
| | $ | 122 |
| | $ | 167 |
| | $ | 165 |
| Unsecured Debt | 29,884 |
| | 28,689 |
| | 13,909 |
| | 15,247 |
| Finance lease liabilities | 304 |
| | 566 |
| | 310 |
| | 516 |
| Total automotive debt(a) | $ | 30,311 |
| | $ | 29,377 |
| | $ | 14,386 |
| | $ | 15,928 |
| | | | | | | | | Fair value utilizing Level 1 inputs | | | $ | 10,572 |
| | | | $ | 13,628 |
| Fair value utilizing Level 2 inputs | | | $ | 18,805 |
| | | | $ | 2,300 |
| | | | | | | | | Available under credit facility agreements(b) | | | $ | 1,350 |
| | | | $ | 17,285 |
| Weighted-average interest rate on outstanding short-term debt(c) | | | 5.8 | % | | | | 4.9 | % | Weighted-average interest rate on outstanding long-term debt(c) | | | 3.5 | % | | | | 5.4 | % |
__________ | | (a) | Includes net discount and debt issuance costs of $483 million and $540 million at March 31, 2020 and December 31, 2019. |
| | (b) | Includes amounts available from our three-year unsecured revolving credit facility with an initial borrowing capacity of $3.0 billion, which is currently planned to reduce to $2.0 billion in July 2020. Our 364-day, $2.0 billion facility is not included in the amount because it is designated for exclusive use by GM Financial. |
| | (c) | Includes coupon rates on debt denominated in various foreign currencies and interest free loans. |
|
| GM Financial [Member] |
|
| Debt Instrument [Line Items] |
|
| Debt carrying amount and fair value |
The following table presents debt of GM Financial: | | | | | | | | | | | | | | | | | | March 31, 2020 | | December 31, 2019 | | Carrying Amount | | Fair Value | | Carrying Amount | | Fair Value | Secured debt | $ | 46,170 |
|
| $ | 46,073 |
|
| $ | 39,959 |
|
| $ | 40,160 |
| Unsecured debt | 50,019 |
|
| 45,436 |
|
| 48,979 |
|
| 50,239 |
| Total GM Financial debt | $ | 96,189 |
|
| $ | 91,509 |
|
| $ | 88,938 |
|
| $ | 90,399 |
| | | | | | | | | Fair value utilizing Level 2 inputs |
|
| $ | 89,892 |
|
|
|
|
| $ | 88,481 |
| Fair value utilizing Level 3 inputs |
|
| $ | 1,617 |
|
|
|
|
| $ | 1,918 |
|
|