
	March 31, 2024						December 31, 2023
	Retail		Commercial(a)		Total		Retail		Commercial(a)		Total


GM Financial receivables	$	73,230	$	14,317	$	87,547	$	72,729	$	13,734	$	86,463
Less: allowance for loan losses	(2,320)		(35)		(2,355)		(2,308)		(36)		(2,344)
GM Financial receivables, net	$	70,911	$	14,282	$	85,193	$	70,421	$	13,698	$	84,119

Fair value of GM Financial receivables utilizing Level 2 inputs					$	14,282					$	13,698
Fair value of GM Financial receivables utilizing Level 3 inputs					$	71,427					$	70,911

(a)Commercial finance receivables include dealer financing of $13.9 billion and $13.3 billion, and other financing of $378 million and $476 million at March 31, 2024 and December 31, 2023. Commercial finance receivables are presented net of dealer cash management balances of $2.8 billion and $2.6 billion at March 31, 2024 and December 31, 2023. 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.


	Three Months Ended
	March 31, 2024		March 31, 2023
Allowance for loan losses at beginning of period	$	2,344	$	2,096

Provision for loan losses	204		131
Charge-offs	(405)		(322)
Recoveries	213		187
Effect of foreign currency and other	(1)		61
Allowance for loan losses at end of period	$	2,355	$	2,152

Retail Finance Receivables GM Financial's retail finance receivable portfolio includes loans made to consumers and businesses to finance the purchase of vehicles for personal and commercial use. 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 March 31, 2024 and December 31, 2023:


	Year of Origination												March 31, 2024
	2024		2023		2022		2021		2020		Prior		Total		Percent
Prime – FICO score 680 and greater	$	6,124	$	21,739	$	14,060	$	8,080	$	4,274	$	1,055	$	55,332	75.6	%
Near-prime – FICO score 620 to 679	902		2,981		2,076		1,566		787		380		8,692		11.9	%
Sub-prime – FICO score less than 620	967		2,821		2,172		1,682		878		685		9,206		12.6	%
Retail finance receivables	$	7,993	$	27,542	$	18,308	$	11,329	$	5,938	$	2,120	$	73,230	100.0	%


	Year of Origination												December 31, 2023
	2023		2022		2021		2020		2019		Prior		Total		Percent
Prime – FICO score 680 and greater	$	23,940	$	15,581	$	9,039	$	4,926	$	1,076	$	320	$	54,882	75.5	%
Near-prime – FICO score 620 to 679	3,234		2,281		1,746		906		350		129		8,647		11.9	%
Sub-prime – FICO score less than 620	3,079		2,397		1,884		1,010		573		257		9,200		12.6	%
Retail finance receivables	$	30,253	$	20,259	$	12,670	$	6,842	$	2,000	$	707	$	72,729	100.0	%

GM Financial reviews the ongoing credit quality of retail finance receivables based on customer payment activity. A retail account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date the payment was contractually due. Retail finance receivables are collateralized by vehicle titles and, subject to local laws, GM Financial generally has the right to repossess the vehicle in the event the customer defaults on the payment terms of the contract. The accrual of finance charge income had been suspended on delinquent retail finance receivables with contractual amounts due of $721 million and $809 million at March 31, 2024 and December 31, 2023. 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 March 31, 2024 and December 31, 2023, as well as summary totals for March 31, 2023:


	Year of Origination												March 31, 2024				March 31, 2023
	2024		2023		2022		2021		2020		Prior		Total		Percent		Total		Percent
0-to-30 days	$	7,973	$	27,054	$	17,743	$	10,856	$	5,689	$	1,911	$	71,225	97.3	%	$	66,109	97.6	%
31-to-60 days	19		342		406		352		188		156		1,463		2.0	%	1,188		1.8	%
Greater-than-60 days	1		125		140		109		56		50		482		0.7	%	363		0.5	%
Finance receivables more than 30 days delinquent	20		467		547		461		245		206		1,945		2.7	%	1,551		2.3	%
In repossession	—		21		19		12		4		3		60		0.1	%	44		0.1	%
Finance receivables more than 30 days delinquent or in repossession	20		488		566		473		249		209		2,005		2.7	%	1,595		2.4	%
Retail finance receivables	$	7,993	$	27,542	$	18,308	$	11,329	$	5,938	$	2,120	$	73,230	100.0	%	$	67,704	100.0	%


	Year of Origination												December 31, 2023
	2023		2022		2021		2020		2019		Prior			Total		Percent
0-to-30 days	$	29,816	$	19,602	$	12,098	$	6,533	$	1,825	$	599		$	70,472	96.9	%
31-to-60 days	318		470		415		227		130		78			1,637		2.3	%
Greater-than-60 days	102		168		142		76		42		29			559		0.8	%
Finance receivables more than 30 days delinquent	421		637		557		302		172		107			2,196		3.0	%
In repossession	17		20		14		6		3		1			61		0.1	%
Finance receivables more than 30 days delinquent or in repossession	437		657		572		308		175		108			2,257		3.1	%
Retail finance receivables	$	30,253	$	20,259	$	12,670	$	6,842	$	2,000	$	707		$	72,729	100.0	%

Commercial Finance Receivables GM Financial's commercial finance receivables consist of dealer financing, primarily for dealer inventory purchases, and other financing, which includes loans to commercial vehicle upfitters. For dealer financing, proprietary models are used to assign a risk rating to each dealer. GM Financial performs periodic credit reviews of each dealership and adjusts the dealership's risk rating, if necessary. The credit risk associated with other financing is limited due to the structure of the business relationships.


Rating						Description
I						Performing accounts with strong to acceptable financial metrics with at least satisfactory capacity to meet financial commitments.
II						Performing accounts experiencing potential weakness in financial metrics and repayment prospects resulting in increased monitoring.
III						Non-Performing accounts with inadequate paying capacity for current obligations and have the distinct possibility of creating a loss if deficiencies are not corrected.
IV						Non-Performing accounts with inadequate paying capacity for current obligations and inherent weaknesses that make collection of liquidation in full highly questionable or improbable.

Dealers with III and IV risk ratings are subject to additional monitoring and restrictions on funding, including suspension of lines of credit and liquidation of assets. The following tables summarize the dealer credit risk profile by dealer risk rating at March 31, 2024 and December 31, 2023:


	Year of Origination(a)														March 31, 2024
Dealer Risk Rating	Revolving		2024		2023		2022		2021		2020		Prior		Total		Percent
I	$	12,056	$	56	$	248	$	389	$	289	$	294	$	62	$	13,395	96.1	%
II	274		—		3		7		—		—		—		284		2.0	%
III	217		4		5		15		12		—		7		261		1.9	%
IV	—		—		—		—		—		—		—		—		—	%
Balance at end of period	$	12,547	$	60	$	256	$	411	$	302	$	294	$	69	$	13,939	100.0	%


	Year of Origination(a)														December 31, 2023
Dealer Risk Rating	Revolving		2023		2022		2021		2020		2019		Prior			Total		Percent
I	$	11,513	$	279	$	403	$	297	$	301	$	75	$	11		$	12,879	97.1	%
II	182		—		2		2		—		—		—			187		1.4	%
III	152		1		15		12		—		11		—			192		1.4	%
IV	—		—		—		—		—		—		—			—		—	%
Balance at end of period	$	11,846	$	281	$	421	$	311	$	301	$	86	$	11		$	13,257	100.0	%

Transactions with GM Financial The following tables show transactions between our Automotive segments, Cruise and GM Financial. These amounts are presented in GM Financial's condensed consolidated balance sheets and statements of income.


	March 31, 2024		December 31, 2023
Condensed Consolidated Balance Sheets(a)
Commercial finance receivables due from GM consolidated dealers	$	183	$	164
Commercial finance receivables due from Cruise	$	395	$	353
Subvention receivable from GM(b)	$	600	$	508

Commercial loan funding payable to GM	$	179	$	55


	Three Months Ended
	March 31, 2024		March 31, 2023
Condensed Consolidated Statements of Income
Interest subvention earned on finance receivables	$	335	$	279
Leased vehicle subvention earned	$	364	$	393