v3.23.3
GM Financial Receivables and Transactions (Tables) - GM Financial
 9 Months Ended
Sep. 30, 2023
Finance Receivables [Line Items]  
GM Financial Receivables
September 30, 2023December 31, 2022
RetailCommercial(a)TotalRetailCommercial(a)Total
GM Financial receivables, net of fees$71,704 $11,765 $83,469 $65,322 $10,988 $76,310 
Less: allowance for loan losses(2,224)(34)(2,258)(2,062)(34)(2,096)
GM Financial receivables, net$69,480 $11,731 $81,211 $63,260 $10,954 $74,214 
Fair value of GM Financial receivables utilizing Level 2 inputs$11,731 $10,954 
Fair value of GM Financial receivables utilizing Level 3 inputs$68,690 $62,150 
__________
(a)Net of dealer cash management balances of $2.4 billion and $1.9 billion at September 30, 2023 and December 31, 2022. 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 EndedNine Months Ended
September 30, 2023September 30, 2022September 30, 2023September 30, 2022
Allowance for loan losses at beginning of period$2,202 $2,027 $2,096 $1,886 
Provision for loan losses235 180 533 500 
Charge-offs(366)(289)(1,012)(811)
Recoveries196 173 574 511 
Effect of foreign currency and other(8)(4)67 — 
Allowance for loan losses at end of period$2,258 $2,086 $2,258 $2,086 
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.
September 30, 2023December 31, 2022
Condensed Consolidated Balance Sheets(a)
Commercial finance receivables, net due from GM consolidated dealers$163 $187 
Receivables from Cruise$276 $113 
Subvention receivable(b)$837 $469 
Commercial loan funding payable$62 $105 
Taxes payable to GM$412 $8 
Three Months EndedNine Months Ended
September 30, 2023September 30, 2022September 30, 2023September 30, 2022
Condensed Consolidated Statements of Income
Interest subvention earned on finance receivables$319 $260 $906 $715 
Leased vehicle subvention earned$382 $456 $1,165 $1,503 
__________
(a)All balance sheet amounts are eliminated upon consolidation.
(b)Our Automotive segments made cash payments to GM Financial for subvention of $629 million and $732 million in the three months ended September 30, 2023 and 2022 and $2.3 billion and $1.7 billion in the nine months ended September 30, 2023 and 2022.
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 September 30, 2023 and December 31, 2022:
Year of OriginationSeptember 30, 2023
20232022202120202019Prior TotalPercent
Prime – FICO score 680 and greater$19,330 $17,114 $10,013 $5,602 $1,325 $467 $53,851 75.1 %
Near-prime – FICO score 620 to 6792,556 2,485 1,930 1,031 420 179 8,600 12.0 %
Sub-prime – FICO score less than 6202,391 2,608 2,085 1,145 676 348 9,253 12.9 %
Retail finance receivables, net of fees$24,278 $22,207 $14,028 $7,777 $2,421 $994 $71,704 100.0 %

Year of OriginationDecember 31, 2022
20222021202020192018PriorTotalPercent
Prime – FICO score 680 and greater$22,677 $13,399 $7,991 $2,254 $1,019 $205 $47,543 72.8 %
Near-prime – FICO score 620 to 6793,202 2,601 1,487 688 310 104 8,392 12.8 %
Sub-prime – FICO score less than 6203,211 2,746 1,604 1,051 496 280 9,388 14.4 %
Retail finance receivables, net of fees$29,090 $18,745 $11,081 $3,992 $1,824 $589 $65,322 100.0 %
Retail Finance Receivables Delinquency The following tables are consolidated summaries of the amortized cost of retail finance receivables by delinquency status, for each vintage of the portfolio at September 30, 2023 and December 31, 2022, as well as summary totals for September 30, 2022:
Year of OriginationSeptember 30, 2023September 30, 2022
20232022202120202019Prior TotalPercentTotalPercent
0-to-30 days$24,021 $21,631 $13,489 $7,478 $2,242 $873 $69,735 97.3 %$61,836 97.4 %
31-to-60 days187 408 389 219 133 88 1,424 2.0 %1,185 1.9 %
Greater-than-60 days59 146 135 73 43 31 488 0.7 %394 0.6 %
Finance receivables more than 30 days delinquent246 555 524 292 175 119 1,911 2.7 %1,579 2.5 %
In repossession11 21 14 7 4 2 58 0.1 %46 0.1 %
Finance receivables more than 30 days delinquent or in repossession257 575 538 299 179 121 1,969 2.7 %1,625 2.6 %
Retail finance receivables, net of fees$24,278 $22,207 $14,028 $7,777 $2,421 $994 $71,704 100.0 %$63,461 100.0 %

Year of OriginationDecember 31, 2022
20222021202020192018PriorTotalPercent
0-to-30 days$28,676 $18,128 $10,702 $3,743 $1,685 $493 $63,426 97.1 %
31-to-60 days310 452 275 184 103 69 1,393 2.1 %
Greater-than-60 days93 150 98 62 35 26 465 0.7 %
Finance receivables more than 30 days delinquent403 603 373 246 138 95 1,857 2.8 %
In repossession11 14 6 4 2 1 39 0.1 %
Finance receivables more than 30 days delinquent or in repossession414 617 380 249 140 96 1,896 2.9 %
Retail finance receivables, net of fees$29,090 $18,745 $11,081 $3,992 $1,824 $589 $65,322 100.0 %
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 September 30, 2023 and December 31, 2022:
Year of Origination(a)September 30, 2023
Revolving20232022202120202019PriorTotalPercent
I$10,129 $149 $414 $308 $321 $84 $31 $11,435 97.2 %
II142 — 2 1 — — — 146 1.2 %
III150 — 16 9 — 8 — 184 1.6 %
IV— — — — — — — — — %
Commercial finance receivables, net of fees$10,421 $149 $432 $318 $322 $92 $31 $11,765 100.0 %
__________
(a)Floorplan advances comprise 95% of the total revolving balance. Dealer term loans are presented by year of origination.

Year of Origination(a)December 31, 2022
Revolving20222021202020192018PriorTotalPercent
I$9,493 $438 $356 $360 $91 $38 $18 $10,794 98.2 %
II89 — 1 — — — — 91 0.8 %
III78 15 — — 10 — — 104 0.9 %
IV— — — — — — — — — %
Commercial finance receivables, net of fees$9,660 $453 $357 $360 $102 $38 $18 $10,988 100.0 %
__________
(a)Floorplan advances comprise 97% of the total revolving balance. Dealer term loans are presented by year of origination.