v3.20.4
Debt (Tables)
 12 Months Ended
Dec. 31, 2020
Interest expense
Years Ended December 31,
202020192018
Automotive interest expense$1,098 $782 $655 
Automotive Financing - GM Financial interest expense3,023 3,641 3,225 
Total interest expense$4,121 $4,423 $3,880 
Schedule of maturities of long-term debt
The following table summarizes contractual maturities including finance leases at December 31, 2020:
AutomotiveAutomotive FinancingTotal
2021$1,276 $35,742 $37,018 
2022137 19,312 19,449 
20232,593 15,267 17,860 
202486 7,808 7,894 
20252,578 6,609 9,187 
Thereafter11,339 7,277 18,616 
$18,009 $92,015 $110,024 
Automotive  
Debt carrying amount and fair value The following table presents debt in our automotive operations:
December 31, 2020December 31, 2019
Carrying AmountFair ValueCarrying AmountFair Value
Secured debt$303 $332 $167 $165 
Unsecured debt16,929 20,988 13,909 15,247 
Finance lease liabilities237 256 310 516 
Total automotive debt(a)$17,469 $21,576 $14,386 $15,928 
Fair value utilizing Level 1 inputs$19,826 $13,628 
Fair value utilizing Level 2 inputs$1,750 $2,300 
Available under credit facility agreements(b)$18,222 $17,285 
Weighted-average interest rate on outstanding short-term debt(c)3.8 %4.9 %
Weighted-average interest rate on outstanding long-term debt(c)5.6 %5.4 %
__________
(a)Includes net discount and debt issuance costs of $540 million at December 31, 2020 and 2019.
(b)Excludes our 364-day, $2.0 billion facility designated for exclusive use by GM Financial.
(c)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, 2020December 31, 2019
Carrying AmountFair ValueCarrying AmountFair Value
Secured debt$39,982 $40,380 $39,959 $40,160 
Unsecured debt52,443 54,568 48,979 50,239 
Total GM Financial debt$92,425 $94,948 $88,938 $90,399 
Fair value utilizing Level 2 inputs$92,922 $88,481 
Fair value utilizing Level 3 inputs$2,026 $1,918