v3.20.2
GM Financial Receivables and Transactions (Tables) - GM Financial [Member]
 6 Months Ended
Jun. 30, 2020
Finance Receivables [Line Items]  
GM Financial Receivables
June 30, 2020December 31, 2019
RetailCommercial(a)TotalRetailCommercial(a)Total
GM Financial receivables, net of fees$46,472  $7,489  $53,961  $42,229  $11,671  $53,900  
Less: allowance for loan losses(2,044) (67) (2,111) (866) (78) (944) 
GM Financial receivables, net$44,428  $7,422  $51,850  $41,363  $11,593  $52,956  
Fair value of GM Financial receivables utilizing Level 2 inputs
$7,422  $11,593  
Fair value of GM Financial receivables utilizing Level 3 inputs
$46,603  $41,973  
__________
(a)Net of dealer cash management balances of $1.3 billion and $1.2 billion at June 30, 2020 and December 31, 2019. 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.
Allowance for Loan Losses
Three Months EndedSix Months Ended
June 30, 2020June 30, 2019June 30, 2020June 30, 2019
Allowance for loan losses at beginning of period$1,966  $924  $944  $911  
Impact of adoption ASU 2016-13 (Note 1)—  —  801  —  
Provision for loan losses327  179  793  354  
Charge-offs(273) (279) (613) (588) 
Recoveries91  132  247  277  
Effect of foreign currency—  1  (61) 3  
Allowance for loan losses at end of period$2,111  $957  $2,111  $957  
Intercompany Transactions The following table shows transactions between our Automotive segments and GM Financial. These amounts are presented in GM Financial's condensed consolidated balance sheets and statements of income.
June 30, 2020December 31, 2019
Condensed Consolidated Balance Sheets(a)
Commercial finance receivables, net due from GM consolidated dealers
$395  $478  
Finance receivables from GM subsidiaries$17  $39  
Subvention receivable(b)$618  $676  
Loans receivable(b)$947  $—  
Commercial loan funding payable$52  $74  

Three Months EndedSix Months Ended
June 30, 2020June 30, 2019June 30, 2020June 30, 2019
Condensed Consolidated Statements of Income
Interest subvention earned on finance receivables$162  $147  $318  $295  
Leased vehicle subvention earned$765  $818  $1,570  $1,653  
__________
(a)All balance sheet amounts are eliminated upon consolidation.
(b)Cash paid by Automotive segments to GM Financial for subvention was $967 million and $959 million in the three months ended June 30, 2020 and 2019 and $2.0 billion in the six months ended June 30, 2020 and 2019. Loans receivable include amounts funded to Automotive segments primarily in the amount of subvention owed to GM Financial in the three months ended June 30, 2020.
Retail Finance Receivables [Member]  
Finance Receivables [Line Items]  
Finance Receivables Credit Quality A summary of the amortized cost of the retail finance receivables by FICO score or its equivalent, determined at origination, for each vintage of the retail finance receivables portfolio at June 30, 2020 is as follows:
Year of OriginationJune 30, 2020December 31, 2019
202020192018201720162015Prior TotalPercentTotalPercent
Prime – FICO score 680 and greater
$10,305  $9,009  $6,056  $2,774  $940  $253  $9  $29,346  63.2 %$25,400  60.1 %
Near-prime – FICO score 620 to 679
1,785  2,533  1,574  828  340  138  25  7,223  15.5 %6,862  16.3 %
Sub-prime – FICO score less than 620
1,917  3,178  1,982  1,440  833  396  157  9,903  21.3 %9,967  23.6 %
Retail finance receivables, net of fees
$14,007  $14,720  $9,612  $5,042  $2,113  $787  $191  $46,472  100.0 %$42,229  100.0 %
Retail Finance Receivables Delinquency The following table is a consolidated summary of the delinquency status of the outstanding amortized cost of retail finance receivables for each vintage of the portfolio at June 30, 2020:
Year of OriginationJune 30, 2020June 30, 2019
202020192018201720162015Prior TotalPercentTotal(a)Percent
Current$13,875  $14,234  $9,224  $4,752  $1,930  $689  $148  $44,852  96.5 %
31-to-60 days86  295  236  181  114  61  25  998  2.2 %$1,083  2.5 %
Greater-than-60 days44  183  147  106  67  36  18  601  1.3 %498  1.2 %
Finance receivables more than 30 days delinquent
130  478  383  287  181  97  43  1,599  3.5 %1,581  3.7 %
In repossession2  8  5  3  2  1  —  21  — %48  0.1 %
Finance receivables more than 30 days delinquent or in repossession
132  486  388  290  183  98  43  1,620  3.5 %$1,629  3.8 %
Retail finance receivables, net of fees
$14,007  $14,720  $9,612  $5,042  $2,113  $787  $191  $46,472  100.0 %
__________
(a)Represents the contractual amounts of delinquent retail finance receivables, which is not significantly different than the outstanding amortized cost for such receivables.
Commercial Finance Receivables [Member]  
Finance Receivables [Line Items]  
Finance Receivables Credit Quality The following table summarizes the credit risk profile by dealer risk rating of commercial finance receivables at June 30, 2020:
Year of Origination(a)June 30, 2020
Revolving202020192018201720162015PriorTotalPercent
I$5,989  $134  $226  $81  $102  $127  $61  $8  $6,728  89.8 %
II388  1  7  3  21  4  13  22  459  6.1 %
III247  —  8  29  2  10  1  —  297  4.0 %
IV1  —  —  —  —  —  4  —  5  0.1 %
Commercial finance receivables, net of fees
$6,625  $135  $241  $113  $125  $141  $79  $30  $7,489  100.0 %
__________
(a)Floorplan advances comprise 97% of the total revolving balance. Dealer term loans are presented by year of origination.