v3.22.2
GM Financial Receivables and Transactions (Tables) - GM Financial
 6 Months Ended
Jun. 30, 2022
Finance Receivables [Line Items]  
GM Financial Receivables
June 30, 2022December 31, 2021
RetailCommercial(a)TotalRetailCommercial(a)Total
GM Financial receivables, net of fees$61,208 $7,526 $68,733 $58,093 $6,609 $64,702 
Less: allowance for loan losses(1,987)(40)(2,027)(1,839)(47)(1,886)
GM Financial receivables, net$59,220 $7,486 $66,706 $56,254 $6,562 $62,816 
Fair value of GM Financial receivables utilizing Level 2 inputs$7,486 $6,562 
Fair value of GM Financial receivables utilizing Level 3 inputs$58,528 $57,613 
__________
(a)Net of dealer cash management balances of $1.3 billion and $1.0 billion at June 30, 2022 and December 31, 2021. 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, 2022June 30, 2021June 30, 2022June 30, 2021
Allowance for loan losses at beginning of period$1,928 $1,835 $1,886 $1,978 
Provision for loan losses198 59 320 33 
Charge-offs(247)(204)(521)(457)
Recoveries161 146 339 296 
Effect of foreign currency(14)14 4 — 
Allowance for loan losses at end of period$2,027 $1,850 $2,027 $1,850 
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, 2022December 31, 2021
Condensed Consolidated Balance Sheets(a)
Commercial finance receivables, net due from GM consolidated dealers$133 $163 
Subvention receivable(b)$475 $282 
Commercial loan funding payable$41 $26 
Three Months EndedSix Months Ended
June 30, 2022June 30, 2021June 30, 2022June 30, 2021
Condensed Consolidated Statements of Income
Interest subvention earned on finance receivables$235 $211 $455 $399 
Leased vehicle subvention earned$500 $704 $1,047 $1,425 
__________
(a)All balance sheet amounts are eliminated upon consolidation.
(b)Our Automotive segments made cash payments to GM Financial for subvention of $561 million and $1.0 billion in the three months ended June 30, 2022 and 2021 and $1.0 billion and $2.0 billion in the six months ended June 30, 2022 and 2021.
Retail Finance Receivables  
Finance Receivables [Line Items]  
Finance Receivables Credit Quality The following tables are consolidated summaries 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, 2022 and December 31, 2021:
Year of OriginationJune 30, 2022
20222021202020192018Prior TotalPercent
Prime – FICO score 680 and greater$12,052 $16,089 $9,915 $3,048 $1,574 $464 $43,141 70.5 %
Near-prime – FICO score 620 to 6791,704 3,183 1,883 932 459 204 8,366 13.7 %
Sub-prime – FICO score less than 6201,826 3,323 1,986 1,356 699 512 9,701 15.8 %
Retail finance receivables, net of fees$15,582 $22,595 $13,784 $5,337 $2,732 $1,179 $61,208 100.0 %
Year of OriginationDecember 31, 2021
20212020201920182017PriorTotalPercent
Prime – FICO score 680 and greater$19,729 $12,408 $4,078 $2,298 $763 $143 $39,419 67.9 %
Near-prime – FICO score 620 to 6793,856 2,388 1,229 648 274 84 8,479 14.6 %
Sub-prime – FICO score less than 6204,053 2,528 1,777 972 570 295 10,195 17.5 %
Retail finance receivables, net of fees$27,638 $17,324 $7,084 $3,918 $1,607 $522 $58,093 100.0 %
Retail Finance Receivables Delinquency The following tables are consolidated summaries of the delinquency status of the outstanding amortized cost of retail finance receivables for each vintage of the portfolio at June 30, 2022 and December 31, 2021, as well as summary totals for June 30, 2021:
Year of OriginationJune 30, 2022June 30, 2021
20222021202020192018Prior TotalPercentTotalPercent
0-to-30 days$15,468 $22,088 $13,426 $5,076 $2,577 $1,046 $59,681 97.5 %$55,187 97.9 %
31-to-60 days88 369 262 193 117 99 1,129 1.8 %856 1.5 %
Greater-than-60 days23 118 87 62 35 31 355 0.6 %286 0.5 %
Finance receivables more than 30 days delinquent111 487 350 254 152 130 1,484 2.4 %1,142 2.0 %
In repossession3 19 9 6 3 3 43 0.1 %28 0.1 %
Finance receivables more than 30 days delinquent or in repossession114 506 358 260 155 133 1,527 2.5 %1,170 2.1 %
Retail finance receivables, net of fees$15,582 $22,595 $13,784 $5,337 $2,732 $1,179 $61,208 100.0 %$56,357 100.0 %

Year of OriginationDecember 31, 2021
20212020201920182017PriorTotalPercent
0-to-30 days$27,270 $16,945 $6,772 $3,721 $1,478 $440 $56,626 97.5 %
31-to-60 days273 276 230 147 97 60 1,083 1.8 %
Greater-than-60 days83 93 76 46 30 21 349 0.6 %
Finance receivables more than 30 days delinquent356 369 306 193 127 81 1,432 2.4 %
In repossession12 10 6 4 2 1 35 0.1 %
Finance receivables more than 30 days delinquent or in repossession368 379 312 197 129 82 1,467 2.5 %
Retail finance receivables, net of fees$27,638 $17,324 $7,084 $3,918 $1,607 $522 $58,093 100.0 %
Commercial Finance Receivables  
Finance Receivables [Line Items]  
Finance Receivables Credit Quality The following tables summarize the credit risk profile by dealer risk rating of commercial finance receivables at June 30, 2022 and December 31, 2021:
Year of OriginationJune 30, 2022
Revolving20222021202020192018PriorTotalPercent
I$5,954 $339 $390 $387 $99 $42 $38 $7,249 96.3 %
II184 15 1 — 12 — 2 214 2.8 %
III59 1 2 — 1 — — 63 0.8 %
IV— — — — — — — — — %
Commercial finance receivables, net of fees$6,197 $355 $392 $387 $112 $42 $40 $7,526 100.0 %

Year of OriginationDecember 31, 2021
Revolving20212020201920182017PriorTotalPercent
I$5,210 $420 $396 $120 $50 $50 $10 $6,256 94.7 %
II207 3 16 12 — 3 — 241 3.6 %
III81 8 15 2 — 2 4 112 1.7 %
IV— — — — — — — — — %
Commercial finance receivables, net of fees$5,498 $431 $427 $134 $50 $55 $14 $6,609 100.0 %