v3.22.2
Derivative Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2022
Derivative [Line Items]  
Schedule of Cumulative Basis Adjustments for Fair Value Hedges
The following amounts were recorded in the condensed consolidated balance sheets related to items designated and qualifying as hedged items in fair value hedging relationships:
June 30, 2022December 31, 2021
Carrying Amount of Hedged ItemsCumulative Amount of Fair Value Hedging Adjustments(a)Carrying Amount of Hedged ItemsCumulative Amount of Fair Value Hedging Adjustments(a)
Short-term unsecured debt$3,042 $8 $1,338 $(1)
Long-term unsecured debt25,604 446 23,626 (225)
GM Financial unsecured debt$28,646 $454 $24,964 $(226)
__________
(a)Includes an insignificant amount and $246 million of unamortized gains remaining on hedged items for which hedge accounting has been discontinued at June 30, 2022 and December 31, 2021.
Automotive  
Derivative [Line Items]  
Schedule of Notional Amounts for Derivative Financial Instruments The following table presents the notional amounts of derivative financial instruments in our automotive operations:
Fair Value LevelJune 30, 2022December 31, 2021
Derivatives not designated as hedges(a)
Foreign currency2$4,948 $4,228 
Commodity21,245 1,549 
Stellantis warrants(b)242 45 
Total derivative financial instruments$6,235 $5,822 
__________
(a)The fair value of these derivative instruments at June 30, 2022 and December 31, 2021 and the gains/losses included in our condensed consolidated income statements for the three and six months ended June 30, 2022 and 2021 were insignificant, unless otherwise noted.
(b)Our 39.7 million warrants in Stellantis N.V. (Stellantis) may be exercised at any time, in one or more tranches, from August 2022 through July 2026. Upon exercise, the warrants will convert into 69.2 million common shares of Stellantis. The fair value of these warrants, located in Other assets, was $1.0 billion and $1.4 billion at June 30, 2022 and December 31, 2021. We recorded a loss in Interest income and other non-operating income, net of $221 million and a gain of $154 million in the three months ended June 30, 2022 and 2021 and a loss of $419 million and a gain of $364 million in the six months ended June 30, 2022 and 2021.
GM Financial  
Derivative [Line Items]  
Schedule of Notional Amounts for Derivative Financial Instruments The following table presents the gross fair value amounts of GM Financial's derivative financial instruments and the associated notional amounts:
Fair Value LevelJune 30, 2022December 31, 2021
NotionalFair Value of AssetsFair Value of LiabilitiesNotionalFair Value of AssetsFair Value of Liabilities
Derivatives designated as hedges(a)
Fair value hedges
Interest rate swaps2$21,600 $2 $536 $15,058 $74 $88 
Foreign currency swaps2— — — 682 — 59 
Cash flow hedges
Interest rate swaps2806 25 — 611 12 4 
Foreign currency swaps27,444 7 649 7,419 85 201 
Derivatives not designated as hedges(a)
Interest rate contracts2109,673 1,526 1,183 110,053 846 339 
Foreign currency contracts2— — — 148 — — 
Total derivative financial instruments(b)$139,523 $1,560 $2,368 $133,971 $1,017 $691 
__________
(a)The gains/losses included in our condensed consolidated income statements and statements of comprehensive income for the three and six months ended June 30, 2022 and 2021 were insignificant, unless otherwise noted. Amounts accrued for interest payments in a net receivable position are included in Other assets. Amounts accrued for interest payments in a net payable position are included in Other liabilities.
(b)GM Financial held $272 million and $376 million of collateral from counterparties available for netting against GM Financial's asset positions, and posted $864 million and an insignificant amount of collateral to counterparties available for netting against GM Financial's liability positions at June 30, 2022 and December 31, 2021.