General Motors Financial (ACF) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Nov. 04, 2020
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	1-10667
Entity Registrant Name	General Motors Financial Company, Inc.
Entity Incorporation, State or Country Code	TX
Entity Tax Identification Number	75-2291093
Entity Address, Address Line One	801 Cherry Street
Entity Address, Address Line Two	Suite 3500
Entity Address, City or Town	Fort Worth
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	76102
City Area Code	817
Local Phone Number	302-7000
Title of 12(b) Security	5.250% Senior Notes due 2026
Trading Symbol	GM/26
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		5,050,000
Entity Central Index Key	0000804269
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 4,705	$ 3,311
Finance receivables, net (Note 3; Note 8 VIEs)	55,153	53,473
Goodwill (Note 5)	1,167	1,185
Equity in net assets of non-consolidated affiliates (Note 6)	1,485	1,455
Related party receivables (Note 2)	566	678
Other assets (Note 8 VIEs)	6,777	7,060
Total assets	109,211	109,217
Liabilities
Secured debt (Note 7; Note 8 VIEs)	35,671	39,959
Unsecured debt (Note 7)	53,151	48,979
Deferred income	3,093	3,648
Related party payables (Note 2)	235	82
Other liabilities	4,514	3,823
Total liabilities	96,664	96,491
Commitments and contingencies (Note 10)
Shareholders' equity (Note 11)
Common stock, $0.0001 par value per share	0	0
Preferred stock, $0.01 par value per share	0	0
Additional paid-in capital	8,622	8,101
Accumulated other comprehensive loss	(1,564)	(1,119)
Retained earnings	5,489	5,744
Total shareholders' equity	12,547	12,726
Total liabilities and shareholders' equity	109,211	109,217
Assets Leased to Others [Member]
Assets
Leased vehicles, net (Note 4; Note 8 VIEs)	$ 39,358	$ 42,055

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Common stock par value per share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01

Condensed Consolidated Statemen

Condensed Consolidated Statements Of Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue
Finance charge income	$ 999	$ 1,043	$ 2,971	$ 3,038
Leased vehicle income	2,354	2,515	7,203	7,536
Other income	68	101	231	344
Total revenue	3,421	3,659	10,405	10,918
Costs and expenses
Operating expenses	394	384	1,097	1,131
Leased vehicle expenses	1,126	1,574	4,602	5,025
Provision for loan losses (Note 3)	31	150	824	504
Interest expense	709	879	2,332	2,778
Total costs and expenses	2,260	2,987	8,855	9,438
Equity income (Note 6)	46	39	113	126
Income before income taxes	1,207	711	1,663	1,606
Income tax provision (Note 12)	314	195	430	416
Net income	893	516	1,233	1,190
Less: cumulative dividends on preferred stock	24	23	69	68
Net income attributable to common shareholder	$ 869	$ 493	$ 1,164	$ 1,122

Condensed Consolidated Statem_2

Condensed Consolidated Statements Of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
Net income	$ 893	$ 516	$ 1,233	$ 1,190
Other comprehensive income (loss), net of tax (Note 11)
Unrealized gain (loss) on hedges, net of income tax expense (benefit) of $5, $(4), $(45), $(15)	17	(12)	(134)	(45)
Foreign currency translation adjustment	82	(164)	(311)	(99)
Other comprehensive income (loss), net of tax	99	(176)	(445)	(144)
Comprehensive income	$ 992	$ 340	$ 788	$ 1,046

Condensed Consolidated Statem_3

Condensed Consolidated Statements Of Comprehensive Income (Parentheticals) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Statement [Abstract]
Change in value of cash flow hedges, tax (benefit)	$ 5	$ (45)	$ (4)	$ (15)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment [Member]	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Loss [Member]	Retained Earnings [Member]
Balance at beginning of period at Dec. 31, 2018	$ 11,659		$ 0	$ 0	$ 8,058	$ (1,066)	$ 4,667
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	271						271
Other comprehensive income (loss)	42					42
Stock based compensation	11				11
Other	1						1
Balance at end of period at Mar. 31, 2019	11,984		0	0	8,069	(1,024)	4,939
Balance at beginning of period at Dec. 31, 2018	11,659		0	0	8,058	(1,066)	4,667
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,190
Other comprehensive income (loss)	(144)
Balance at end of period at Sep. 30, 2019	12,688		0	0	8,085	(1,210)	5,813
Balance at beginning of period at Mar. 31, 2019	11,984		0	0	8,069	(1,024)	4,939
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	403						403
Other comprehensive income (loss)	(10)					(10)
Stock based compensation	8				8
Balance at end of period at Jun. 30, 2019	12,385		0	0	8,077	(1,034)	5,342
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	516						516
Other comprehensive income (loss)	(176)					(176)
Stock based compensation	8				8
Dividends paid (Note 11)	(45)						(45)
Balance at end of period at Sep. 30, 2019	12,688		0	0	8,085	(1,210)	5,813
Balance at beginning of period at Dec. 31, 2019	12,726	$ (643)	0	0	8,101	(1,119)	5,744
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	167						167
Other comprehensive income (loss)	(543)					(543)
Stock based compensation	9				9
Dividends paid (Note 11)	(400)						(400)
Balance at end of period at Mar. 31, 2020	11,316		0	0	8,110	(1,662)	4,868
Balance at beginning of period at Dec. 31, 2019	12,726	$ (643)	0	0	8,101	(1,119)	5,744
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,233
Other comprehensive income (loss)	(445)
Balance at end of period at Sep. 30, 2020	12,547		0	0	8,622	(1,564)	5,489
Balance at beginning of period at Mar. 31, 2020	11,316		0	0	8,110	(1,662)	4,868
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	173						173
Other comprehensive income (loss)	(1)					(1)
Stock based compensation	10				10
Dividends paid (Note 11)	(400)						(400)
Dividends declared on preferred stock (Note 11)	(45)						(45)
Balance at end of period at Jun. 30, 2020	11,053		0	0	8,120	(1,663)	4,596
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	893						893
Other comprehensive income (loss)	99					99
Stock based compensation	10				10
Issuance of preferred stock (Note 11)	492				492
Balance at end of period at Sep. 30, 2020	$ 12,547		$ 0	$ 0	$ 8,622	$ (1,564)	$ 5,489

Condensed Consolidated Statem_5

Condensed Consolidated Statements Of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash flows from operating activities
Net income	$ 1,233	$ 1,190
Adjustments to reconcile net income to net cash provided by operating activities
Depreciation and amortization	5,702	5,724
Accretion and amortization of loan and leasing fees	(1,501)	(1,449)
Undistributed earnings of non-consolidated affiliates, net	(113)	(126)
Provision for loan losses	824	504
Deferred income taxes	227	340
Stock-based compensation expense	28	31
Gain on termination of leased vehicles	(933)	(552)
Other operating activities	(18)	141
Changes in assets and liabilities:
Other assets	(65)	335
Other liabilities	616	166
Net cash provided by operating activities	6,000	6,304
Cash flows from investing activities
Purchases of retail finance receivables, net	(22,419)	(19,866)
Principal collections and recoveries on retail finance receivables	14,506	17,733
Net collections (funding) of commercial finance receivables	3,426	(599)
Purchases of leased vehicles, net	(10,468)	(12,488)
Proceeds from termination of leased vehicles	9,937	9,983
Other investing activities	(23)	(37)
Net cash used in investing activities	(5,041)	(5,274)
Cash flows from financing activities
Net change in debt (original maturities less than three months)	579	27
Borrowings and issuances of secured debt	32,459	17,880
Payments on secured debt	(36,432)	(21,707)
Borrowings and issuances of unsecured debt	11,226	8,796
Payments on unsecured debt	(7,669)	(7,278)
Debt issuance costs	(135)	(102)
Proceeds from issuance of preferred stock	492	0
Dividends paid	(890)	(91)
Net cash used in financing activities	(370)	(2,475)
Net increase in cash, cash equivalents and restricted cash	589	(1,445)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(140)	(20)
Cash, cash equivalents and restricted cash at beginning of period	7,102	7,443
Cash, cash equivalents and restricted cash at end of period	7,551	5,978
Supplemental Cash Flow Elements [Abstract]
Total	$ 7,551	$ 5,978

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The condensed consolidated financial statements include our accounts and the accounts of our consolidated subsidiaries, including certain special purpose entities (SPEs) utilized in secured financing transactions, which are considered variable interest entities (VIEs). All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements, including the notes thereto, are condensed and do not include all disclosures required by generally accepted accounting principles (GAAP) in the U.S. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements that are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as filed with the Securities and Exchange Commission (SEC) on February 5, 2020 (2019 Form 10-K). Except as otherwise specified, dollar amounts presented within tables are stated in millions. The condensed consolidated financial statements at September 30, 2020, and for the three and nine months ended September 30, 2020 and 2019, are unaudited and, in management’s opinion, include all adjustments, which consist of normal recurring adjustments and transactions or events discretely impacting the interim periods, considered necessary by management to fairly state our results of operations. The results for interim periods are not necessarily indicative of results for a full year. The condensed consolidated balance sheet at December 31, 2019 was derived from audited annual financial statements. Segment Information We are the wholly-owned captive finance subsidiary of General Motors Company (GM). We offer substantially similar products and services throughout many different regions, subject to local regulations and market conditions. We evaluate our business in two operating segments: North America (the North America Segment) and International (the International Segment). Our North America Segment includes operations in the U.S. and Canada. Our International Segment includes operations in Brazil, Chile, Colombia, Mexico and Peru, as well as our equity investments in joint ventures in the Asia/Pacific region. Recently Adopted Accounting Standards Effective January 1, 2020, we adopted Accounting Standards Update (ASU) 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" (ASU 2016-13), which requires entities to use a new impairment model based on current expected credit losses (CECL) rather than incurred losses. Estimated credit losses under CECL consider relevant information about past events, current conditions and reasonable and supportable forecasts that affect the collectability of finance receivables, resulting in recognition of lifetime expected credit losses upon origination of the related finance receivable. We adopted ASU 2016-13 Retail Finance Receivables and the Allowance for Loan Losses Our retail finance receivables portfolio consists of smaller-balance, homogeneous loans that are carried at amortized cost, net of allowance for loan losses. These loans are divided among pools based on common risk characteristics, such as internal credit score, origination period (vintage) and geography. An internal credit score, of which FICO is an input in North America, is created by using algorithms or statistical models contained in origination scorecards. The scorecards are used to evaluate a consumer’s ability to pay based on statistical modeling of his or her prior credit usage, structure of the loan and other information. The output of the scorecards rank-orders consumers from those that are least likely to default to those that are most likely to default. By further dividing the portfolio into pools based on internal credit scores, we are better able to distinguish expected credit performance for different credit risks. The allowance is aggregated for each of the pools. Provisions for loan losses are charged to operations in amounts sufficient to maintain the allowance for loan losses at levels considered adequate to cover expected credit losses on our retail finance receivables portfolio. We use static pool modeling techniques to determine the allowance for loan losses expected over the remaining life of the receivables, which is supplemented by management judgment. We assess the recent internal operating and external environments and may qualitatively adjust certain assumptions to result in an allowance that is more reflective of losses that are expected to occur in the forecast environment. Expected losses are estimated for groups of accounts aggregated by internal credit score and monthly vintage. Generally, the expected losses are projected based on historical loss experience over the last ten years, more heavily weighted toward recent performance when determining the allowance to result in an estimate that is more reflective of the current internal and external environments. We consider forecast economic conditions over a reasonable and supportable forecast period. We determine the expected remaining life of the finance receivables to be a reasonable and supportable forecast horizon, primarily due to the relatively short weighted average life of retail finance receivables. We determined the economic factors that have the largest impact on expected losses include unemployment rates, interest rate spreads, disposable personal income, and growth rates in gross domestic products. We use forecasts for our chosen factors provided by a leading economic research firm. We compare the forecasts to consensus forecasts to assess for reasonableness and may use one or more forecast scenarios provided by the research firm. Troubled debt restructurings (TDRs) are grouped separately for purposes of measuring the allowance. The allowance for TDRs uses static pool modeling techniques, similar to non-TDR retail finance receivables, to determine the expected loss amount. The expected cash flows of the receivables are then discounted at the original weighted average effective interest rate of the pool. Factors considered when estimating the TDR allowance are based on an evaluation of historical and current information, and may be supplemented by management judgment. While we expect certain of our finance receivables to become TDRs, there is typically no delay between the point at which we become aware that a receivable is expected to become a TDR and when the receivable actually qualifies as a TDR. Therefore, our TDR portfolio does not include any receivables that are expected to become TDRs. We believe these factors are relevant in estimating expected losses and also consider an evaluation of overall portfolio credit quality based on indicators such as changes in our credit evaluation, underwriting and collection management policies, changes in the legal and regulatory environment, general economic conditions and business trends and uncertainties in forecasting and modeling techniques used in estimating our allowance. We update our retail loss forecast models and portfolio indicators on a quarterly basis to incorporate information reflective of the current and forecast economic environments. Assumptions regarding credit losses are reviewed periodically and may be impacted by actual performance of finance receivables and changes in any of the factors discussed above. Should the credit loss assumptions increase, there would be an increase in the amount of allowance for loan losses required, which would decrease the net carrying value of finance receivables and increase the amount of provision for loan losses. Commercial Finance Receivables and the Allowance for Loan Losses Our commercial lending offerings consist of floorplan financing as well as dealer loans, which are loans to finance improvements to dealership facilities, to provide working capital, and to purchase and/or finance dealership real estate. Commercial finance receivables are carried at amortized cost, net of allowance for loan losses and any amounts held under a cash management program. Provisions for loan losses are charged to operations in amounts sufficient to maintain the allowance for loan losses at levels considered adequate to cover expected credit losses in the commercial finance receivables portfolio. We establish the allowance for loan losses based on historical loss experience, as well as the forecast for industry vehicle sales, which is the economic indicator that we believe has the largest impact on expected losses. The commercial finance receivables are aggregated into loan-risk pools, which are determined based on our internally-developed risk rating system. Dealers' financial and operating metrics are regularly scored and further evaluated to derive a risk rating. Based on dealer risk ratings, we establish probability of default and loss given default, and also determine if any specific dealer loan requires additional reserves. In March 2020, the Financial Accounting Standards Board issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (ASU 2020-04), which provides optional expedients and exceptions for applying U.S. GAAP if certain criteria are met to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued. A substantial portion of our indebtedness bears interest at variable interest rates, primarily based on USD-LIBOR. Effective July 1, 2020, we adopted ASU 2020-04 on a prospective basis. The adoption of, and future elections under, ASU 2020-04 are not expected to have a material impact on our consolidated financial statements as the standard will ease, if warranted, the requirements for accounting for the future effects of the rate reform. We continue to monitor the impact the discontinuance of LIBOR or another reference rate will have on our contracts, hedging relationships and other transactions.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions We offer loan and lease finance products through GM-franchised dealers to customers purchasing new vehicles manufactured by GM and certain used vehicles, and make commercial loans directly to GM-franchised dealers and their affiliates. We also offer commercial loans to dealers that are consolidated by GM and those balances are included in our finance receivables, net. Under subvention programs, GM makes cash payments to us for offering incentivized rates and structures on retail loan and lease finance products. In addition, GM makes cash payments to us to cover interest payments on certain commercial loans. We purchase certain program vehicles from GM subsidiaries. We simultaneously lease these vehicles to those subsidiaries for use primarily in their vehicle-sharing arrangements. We account for these leases as direct-finance leases, sales-type leases or loans depending on the origin of the asset, all of which are included in our finance receivables, net. We purchased finance receivables from other GM subsidiaries for vehicles sold to rental car companies and for vehicles sold to certain dealerships. During the nine months ended September 30, 2020 and 2019, we purchased $190 million and $689 million of these receivables from GM, which are included in our finance receivables, net. We have related party payables due to GM, primarily for taxes payable and commercial finance receivables originated but not yet funded. The following tables present related party transactions: Balance Sheet Data September 30, 2020 December 31, 2019 Commercial finance receivables, net due from dealers consolidated by GM (a) $ 399 $ 478 Subvention receivable (b) $ 566 $ 676 Commercial loan funding payable (c) $ 75 $ 74 Taxes payable (c) $ 159 $ 4 Three Months Ended September 30, Nine Months Ended September 30, Income Statement Data 2020 2019 2020 2019 Interest subvention earned on retail finance receivables (d) $ 172 $ 137 $ 464 $ 401 Interest subvention earned on commercial finance receivables (d) $ 6 $ 16 $ 32 $ 47 Leased vehicle subvention earned (e) $ 749 $ 814 $ 2,319 $ 2,467 _________________ (a) Included in finance receivables, net. (b) Included in related party receivables. We received subvention payments from GM of $943 million and $1.0 billion for the three months ended September 30, 2020 and 2019 and $3.0 billion and $3.1 billion for the nine months ended September 30, 2020 and 2019. (c) Included in related party payables. (d) Included in finance charge income. (e) Included as a reduction to leased vehicle expenses. Under the support agreement with GM (the Support Agreement), if our earning assets leverage ratio at the end of any calendar quarter exceeds the applicable threshold set in the Support Agreement, we may require GM to provide funding sufficient to bring our earning assets leverage ratio to within the applicable threshold. In determining our earning assets leverage ratio (net earning assets divided by adjusted equity) under the Support Agreement, net earning assets means our finance receivables, net, plus leased vehicles, net, and adjusted equity means our equity, net of goodwill and inclusive of outstanding junior subordinated debt, as each may be adjusted for derivative accounting from time to time. Additionally, the Support Agreement provides that GM will own all of our outstanding voting shares as long as we have any unsecured debt securities outstanding. GM also agrees to certain provisions in the Support Agreement intended to ensure that we maintain adequate access to liquidity. Pursuant to these provisions, GM provides us with a $1.0 billion junior subordinated unsecured intercompany revolving credit facility (the Junior Subordinated Revolving Credit Facility), and GM agrees to use commercially reasonable efforts to ensure that we will continue to be designated as a subsidiary borrower under GM's corporate revolving credit facilities. We have access, subject to available capacity, to $14.5 billion of GM's unsecured revolving credit facilities consisting of a three-year, $4.0 billion facility, and a five-year, $10.5 billion facility. We also have exclusive access to GM's $2.0 billion facility (GM Revolving 364-Day Credit Facility). At September 30, 2020, we had no amounts borrowed under any of the GM facilities. At September 30, 2020, GM had $0.2 billion in borrowings outstanding on the three-year, $4.0 billion facility and $10.5 billion in borrowings outstanding on the five-year, $10.5 billion facility. In October 2020, GM repaid $3.9 billion of the five-year, $10.5 billion facility. In April 2020, GM renewed the $2.0 billion GM Revolving 364-Day Credit Facility for an additional 364-day term and extended $3.6 billion of the three-year, $4.0 billion facility for an additional year expiring in April 2022. The remaining portion will expire in April 2021, unless extended. We are included in GM's consolidated U.S. federal income tax returns and certain U.S. state returns, and we are obligated to pay GM for our share of tax liabilities. Amounts owed to GM for income taxes are accrued and recorded as a related party payable.

Finance Receivables

Finance Receivables	9 Months Ended
	Sep. 30, 2020
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Finance Receivables	Finance Receivables September 30, 2020 December 31, 2019 Retail finance receivables Retail finance receivables, net of fees (a) $ 48,695 $ 42,268 Less: allowance for loan losses (1,936) (866) Total retail finance receivables, net 46,759 41,402 Commercial finance receivables Commercial finance receivables, net of fees (b) 8,461 12,149 Less: allowance for loan losses (67) (78) Total commercial finance receivables, net 8,394 12,071 Total finance receivables, net $ 55,153 $ 53,473 Fair value utilizing Level 2 inputs $ 8,394 $ 12,071 Fair value utilizing Level 3 inputs $ 48,973 $ 42,012 ________________ (a) Net of unearned income, unamortized premiums and discounts, and deferred fees and costs of $63 million and $83 million at September 30, 2020 and December 31, 2019. (b) Net of dealer cash management balances of $1.4 billion and $1.2 billion at September 30, 2020 and December 31, 2019. Rollforward of Allowance for Retail Loan Losses A summary of the activity in the allowance for retail loan losses is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Allowance for retail loan losses beginning balance $ 2,044 $ 881 $ 866 $ 844 Impact of adopting ASU 2016-13 Note 1 ) — — 801 — Provision for loan losses 31 149 819 492 Charge-offs (280) (300) (876) (886) Recoveries 133 133 378 410 Foreign currency translation 8 (7) (52) (4) Allowance for retail loan losses ending balance $ 1,936 $ 856 $ 1,936 $ 856 Retail Credit Quality Our retail finance receivables portfolio includes loans made to consumers and businesses to finance the purchase of vehicles for personal and commercial use. A summary of the amortized cost 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, 2020 is as follows: Year of Origination 2020 2019 2018 2017 2016 2015 Prior Total Percent Prime - FICO Score 680 and greater $ 14,746 $ 8,064 $ 5,296 $ 2,348 $ 744 $ 177 $ 5 $ 31,380 64.4 % Near-prime - FICO Score 620 to 679 2,725 2,293 1,392 712 280 103 15 7,520 15.5 Sub-prime - FICO Score less than 620 2,701 2,922 1,785 1,265 707 311 104 9,795 20.1 Retail finance receivables, net of fees $ 20,172 $ 13,279 $ 8,473 $ 4,325 $ 1,731 $ 591 $ 124 $ 48,695 100.0 % We review the ongoing credit quality of our 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, we generally have the right to repossess the vehicle in the event the customer defaults on the payment terms of the contract. The following table is a consolidated summary of the delinquency status of the outstanding amortized cost of retail finance receivables for each vintage of the portfolio at September 30, 2020: Year of Origination 2020 2019 2018 2017 2016 2015 Prior Total Percent Current $ 19,962 $ 12,848 $ 8,143 $ 4,083 $ 1,580 $ 513 $ 93 $ 47,222 97.0 % 31 - 60 days 147 294 227 167 102 53 19 1,009 2.1 Greater than 60 days 57 122 92 69 45 23 11 419 0.8 Finance receivables more than 30 days delinquent 204 416 319 236 147 76 30 1,428 2.9 In repossession 6 15 11 6 4 2 1 45 0.1 Finance receivables more than 30 days delinquent or in repossession 210 431 330 242 151 78 31 1,473 3.0 Retail finance receivables, net of fees $ 20,172 $ 13,279 $ 8,473 $ 4,325 $ 1,731 $ 591 $ 124 $ 48,695 100.0 % The accrual of finance charge income had been suspended on retail finance receivables with contractual amounts due of $742 million and $875 million at September 30, 2020 and December 31, 2019. TDRs The outstanding amortized cost of retail finance receivables that are considered TDRs was $2.3 billion at September 30, 2020, including $317 million in nonaccrual loans. Additional TDR activity is presented below: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2018 2020 2019 2018 Number of loans classified as TDRs during the period 13,785 19,074 17,924 43,431 53,013 51,020 Outstanding amortized cost of loans classified as TDRs during the period $ 254 $ 343 $ 319 $ 789 $ 969 $ 932 The unpaid principal balances, net of recoveries, of loans charged off during the reporting period within 12 months of being modified as a TDR were $12 million, $19 million, and $20 million for the three months ended September 30, 2020, 2019 and 2018 and $27 million, $33 million, and $32 million for the nine months ended September 30, 2020, 2019 and 2018. Commercial Credit Quality Our commercial finance receivables consist of dealer financings, primarily for dealer inventory purchases. Proprietary models are used to assign a risk rating to each dealer. We perform periodic credit reviews of each dealership and adjust the dealership's risk rating, if necessary. Effective January 1, 2020, we updated our commercial risk model and our risk rating categories as follows: Dealer Risk 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 that 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 or 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 table summarizes the credit risk profile by dealer risk rating of commercial finance receivables at September 30, 2020: Year of Origination (a) Dealer Risk Rating Revolving 2020 2019 2018 2017 2016 2015 Prior Total Percent I $ 6,723 $ 400 $ 198 $ 92 $ 113 $ 93 $ 44 $ — $ 7,663 90.6 % II 428 1 7 12 15 13 13 22 511 6.0 III 227 — 9 29 2 11 1 — 279 3.3 IV 4 — — — — — 4 — 8 0.1 Balance at end of period $ 7,382 $ 401 $ 214 $ 133 $ 130 $ 117 $ 62 $ 22 $ 8,461 100.0 % ________________ (a) Floorplan advances comprise 98% of the total revolving balance. Dealer term loans are presented by year of origination. At September 30, 2020, substantially all of our commercial finance receivables were current with respect to payment status and activity in the allowance for commercial loan losses was insignificant for the three and nine months ended September 30, 2020 and 2019. Commercial finance receivables classified as TDRs and amounts on non-accrual status were insignificant at September 30, 2020.

Leased Vehicles

Leased Vehicles	9 Months Ended
	Sep. 30, 2020
Lessor Disclosure [Abstract]
Leased Vehicles	Leased Vehicles September 30, 2020 December 31, 2019 Leased vehicles $ 59,104 $ 62,767 Manufacturer subvention (9,112) (9,731) Net capitalized cost 49,992 53,036 Less: accumulated depreciation (10,634) (10,981) Leased vehicles, net $ 39,358 $ 42,055 The following table summarizes minimum rental payments due to us as lessor under operating leases at September 30, 2020: Years Ending December 31, 2020 2021 2022 2023 2024 Thereafter Total Lease payments under operating leases $ 1,714 $ 5,548 $ 3,108 $ 865 $ 52 $ 1 $ 11,288

Goodwill

Goodwill	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill	Goodwill The following table summarizes the change in the carrying amounts of goodwill by segment: Nine Months Ended September 30, 2020 2019 North America International Total North America International Total Beginning balance $ 1,105 $ 80 $ 1,185 $ 1,105 $ 81 $ 1,186 Foreign currency translation — (18) (18) — (4) (4) Ending balance $ 1,105 $ 62 $ 1,167 $ 1,105 $ 77 $ 1,182 Since December 31, 2019, the COVID-19 pandemic has resulted in a widespread health crisis that has adversely affected businesses, economies and financial markets worldwide, placed constraints on the operations of businesses, decreased consumer mobility and activity, and caused significant economic volatility in the global debt and equity markets. The economic and social uncertainty resulting from the COVID-19 outbreak indicated that it was more likely than not that goodwill impairment existed at March 31, 2020 for our North America reporting unit. Therefore, at March 31, 2020, we performed an event-driven goodwill impairment test for our North America reporting unit and determined no goodwill impairment existed.

Equity in Net Assets of Non-con

Equity in Net Assets of Non-consolidated Affiliates	9 Months Ended
	Sep. 30, 2020
Noncontrolling Interest [Abstract]
Equity in Net Assets of Non-consolidated Affiliates	Equity in Net Assets of Non-consolidated Affiliates We use the equity method to account for our equity interest in joint ventures . The income of these joint ventures is not consolidated into our financial statements; rather, our proportionate share of the earnings is reflected as equity income. There have been no ownership changes in our joint ventures since December 31, 2019. The following table presents certain aggregated operating data of our joint ventures: Three Months Ended September 30, Nine Months Ended September 30, Summarized Operating Data 2020 2019 2020 2019 Finance charge income $ 355 $ 330 $ 1,049 $ 1,024 Income before income taxes $ 174 $ 150 $ 428 $ 481 Net income $ 131 $ 113 $ 321 $ 361 At September 30, 2020 and December 31, 2019, we had undistributed earnings of $609 million and $615 million related to our non-consolidated affiliates. During the three months ended September 30, 2020, SAIC-GMAC Automotive Finance Company Limited (SAIC-GMAC) declared a $294 million cash dividend of which our share was $103 million. The dividend payment was received on November 3, 2020.

Debt

Debt	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt September 30, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value Secured debt Revolving credit facilities $ 2,048 $ 2,050 $ 6,152 $ 6,160 Securitization notes payable 33,623 34,058 33,807 34,000 Total secured debt 35,671 36,108 39,959 40,160 Unsecured debt Senior notes 47,935 49,008 43,679 44,937 Credit facilities 1,417 1,415 1,936 1,936 Other unsecured debt 3,799 3,803 3,364 3,366 Total unsecured debt 53,151 54,226 48,979 50,239 Total secured and unsecured debt $ 88,822 $ 90,334 $ 88,938 $ 90,399 Fair value utilizing Level 2 inputs $ 88,768 $ 88,481 Fair value utilizing Level 3 inputs $ 1,566 $ 1,918 Secured Debt Most of the secured debt was issued by VIEs and is repayable only from proceeds related to the underlying pledged assets. Refer to Note 8 for further information. The weighted average interest rate on secured debt was 2.22% at September 30, 2020. Issuance costs on secured debt of $88 million as of September 30, 2020 and $75 million as of December 31, 2019 are amortized to interest expense over the expected term of the secured debt. The terms of our revolving credit facilities provide for a revolving period and subsequent amortization period, and are expected to be repaid over periods ranging up to six years. During the nine months ended September 30, 2020, we renewed credit facilities with a total borrowing capacity of $17.3 billion. Securitization notes payable at September 30, 2020 are due beginning in 2021 through 2028. During the nine months ended September 30, 2020, we issued $16.6 billion in aggregate principal amount of securitization notes payable with an initial weighted average interest rate of 1.33% and maturity dates ranging from 2021 to 2028. Unsecured Debt Senior Notes At September 30, 2020, we had $47.4 billion aggregate outstanding in senior notes that mature from 2020 through 2030 and have a weighted average interest rate of 3.27%. Issuance costs on senior notes of $113 million as of September 30, 2020 and $109 million as of December 31, 2019 are amortized to interest expense over the term of the notes. During the nine months ended September 30, 2020, we issued $8.4 billion in aggregate principal amount of senior notes with an initial weighted average interest rate of 3.08% and maturity dates ranging from 2023 through 2030. General Motors Financial Company, Inc. is the sole guarantor of its subsidiaries' unsecured debt obligations for which a guarantee is provided. Credit Facilities and Other Unsecured Debt We use unsecured credit facilities with banks as well as non-bank instruments as funding sources. Our credit facilities and other unsecured debt have maturities of up to four years. The weighted average interest rate on these credit facilities and other unsecured debt was 2.46% at September 30, 2020. Compliance with Debt Covenants Several of our revolving credit facilities require compliance with certain financial and operational covenants as well as regular reporting to lenders, including providing certain subsidiary financial statements. Certain of our secured debt agreements also contain various covenants, including maintaining portfolio performance ratios as well as limits on deferment levels. Our unsecured debt obligations contain covenants including limitations on our ability to incur certain liens. At September 30, 2020, we were in compliance with these debt covenants.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2020
Variable Interest Entities [Abstract]
Variable Interest Entities	Variable Interest Entities The following table summarizes the assets and liabilities related to our consolidated VIEs: September 30, 2020 December 31, 2019 Restricted cash (a) $ 2,725 $ 2,643 Finance receivables, net of fees $ 28,762 $ 35,392 Lease related assets $ 16,594 $ 14,464 Secured debt $ 35,475 $ 39,771 _______________ (a) Included in other assets. We use SPEs that are considered VIEs to issue variable funding notes to third party, bank-sponsored warehouse facilities or asset-backed securities to investors in securitization transactions. The debt issued by these VIEs is backed by finance receivables and leasing-related assets transferred to the VIEs. We determined that we are the primary beneficiary of the VIEs because our servicing responsibilities give us the power to direct the activities that most significantly impact the performance of the VIEs and our variable interests in the VIEs give us the obligation to absorb losses and the right to receive residual returns that could potentially be significant. The respective assets of the VIEs serve as the sole source of repayment for the debt issued by these entities. Investors in the notes issued by the VIEs do not have recourse to us or our other assets, with the exception of customary representation and warranty repurchase provisions and indemnities that we provide as the servicer. We are not required to provide any additional financial support to these VIEs. While these VIE subsidiaries are included in our condensed consolidated financial statements, they are separate legal entities and their assets are legally owned by them and are not available to our creditors. Other transfers of finance receivables Under certain debt agreements, we transfer finance receivables to entities that we do not control through majority voting interest or through contractual arrangements. These transfers do not meet the criteria to be considered sales under U.S. GAAP; therefore, the finance receivables and the related debt are included in our consolidated financial statements, similar to the treatment of finance receivables and related debt of our consolidated VIEs. Any collections received on the transferred receivables are available only for the repayment of the related debt. At September 30, 2020 and December 31, 2019, $408 million and $226 million in finance receivables had been transferred in secured funding arrangements to third-party banks, relating to $256 million and $244 million in secured debt outstanding.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Financial Instruments and Hedging Activities	Derivative Financial Instruments and Hedging Activities We are exposed to certain risks arising from both our business operations and economic conditions. We manage economic risks, including interest rate risk, primarily by managing the amount, sources, and duration of our assets and liabilities and by using derivative financial instruments. Specifically, we enter into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. Our derivative financial instruments are used to manage differences in the amount, timing, and duration of our known or expected cash receipts and our known or expected cash payments principally related to our borrowings. Certain of our foreign operations expose us to fluctuations of foreign interest rates and exchange rates. We primarily finance our earning assets with debt in the same currency to minimize the impact to earnings from our exposure to fluctuations in exchange rates. When we use a different currency, these fluctuations may impact the value of our cash receipts and payments in terms of our functional currency. We enter into derivative financial instruments to protect the value or fix the amount of certain assets and liabilities in terms of the relevant functional currency. The table below presents the gross fair value amounts of our derivative financial instruments and the associated notional amounts: September 30, 2020 December 31, 2019 Notional Fair Value of Assets (a) Fair Value of Liabilities (a) Notional Fair Value of Assets (a) Fair Value of Liabilities (a) Derivatives designated as hedges Fair value hedges Interest rate swaps $ 10,050 $ 496 $ 2 $ 9,458 $ 234 $ 23 Foreign currency swaps 1,876 77 39 1,796 22 71 Cash flow hedges Interest rate swaps 914 — 28 590 — 6 Foreign currency swaps 5,365 98 138 4,429 40 119 Derivatives not designated as hedges Interest rate contracts 110,059 1,023 692 92,400 340 300 Total (b) $ 128,264 $ 1,694 $ 899 $ 108,673 $ 636 $ 519 _________________ (a) The gross amounts of the fair value of our assets and liabilities are included in other assets and other liabilities, respectively. 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. All our derivatives are categorized within Level 2 of the fair value hierarchy. The fair value for Level 2 instruments was derived using the market approach based on observable market inputs including quoted prices of similar instruments and foreign exchange and interest rate forward curves. (b) We primarily enter into derivative instruments through AmeriCredit Financial Services, Inc. (AFSI); however, our SPEs may also be parties to derivative instruments. Agreements between AFSI and its derivative counterparties include rights of setoff for positions with offsetting values or for collateral held or posted. At September 30, 2020 and December 31, 2019, the fair value of assets and liabilities available for offset was $619 million and $302 million. At September 30, 2020 and December 31, 2019, we held $779 million and $210 million of collateral from counterparties that is available for netting against our asset positions. At September 30, 2020 and December 31, 2019, we posted $195 million and $89 million of collateral to counterparties that is available for netting against our liability positions. The following amounts were recorded in the condensed consolidated balance sheet related to items designated and qualifying as hedged items in fair value hedging relationships: Carrying Amount of Cumulative Amount of Fair Value (a) September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 Unsecured debt $ 24,275 $ 20,397 $ (713) $ (77) _________________ (a) Includes $197 million of unamortized gains and $69 million of unamortized losses remaining on hedged items for which hedge accounting has been discontinued at September 30, 2020 and December 31, 2019. The tables below present the effect of our derivative financial instruments in the condensed consolidated statements of income: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Interest Expense (a) Operating Expenses (b) Interest Expense (a) Operating Expenses (b) Interest Expense (a) Operating Expenses (b) Interest Expense (a) Operating Expenses (b) Fair value hedges Hedged items - interest rate swaps $ 14 $ — $ (159) $ — $ (555) $ — $ (682) $ — Interest rate swaps (86) — 80 — 289 — 546 — Hedged items - foreign currency swaps — (79) — 78 — (80) — 85 Foreign currency swaps (5) 80 (15) (77) (26) 84 (46) (81) Cash flow hedges Interest rate swaps (5) — 1 — (8) — 5 — Foreign currency swaps (25) 216 (23) (134) (82) 223 (62) (149) Derivatives not designated as hedges Interest rate contracts 83 — 89 — 244 — 79 — Total (losses) income recognized $ (24) $ 217 $ (27) $ (133) $ (138) $ 227 $ (160) $ (145) _________________ (a) Total interest expense was $709 million and $879 million for the three months ended September 30, 2020 and 2019 and $2.3 billion and $2.8 billion for the nine months ended September 30, 2020 and 2019. (b) Activity is offset by translation activity also recorded in operating expenses related to foreign currency-denominated loans. Total operating expenses were $394 million and $384 million for the three months ended September 30, 2020 and 2019 and $1.1 billion for both the nine months ended September 30, 2020 and 2019. The tables below present the effect of our derivative financial instruments in the condensed consolidated statements of comprehensive income: Gains (Losses) Recognized In Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Fair value hedges Foreign currency swaps $ (4) $ (10) $ (16) $ (30) Cash flow hedges Interest rate swaps — (3) (15) (5) Foreign currency swaps 158 (127) (22) (198) Total $ 154 $ (140) $ (53) $ (233) (Gains) Losses Reclassified From (a)(b) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Fair value hedges Foreign currency swaps $ 4 $ 10 $ 17 $ 32 Cash flow hedges Interest rate swaps 3 (1) 5 (4) Foreign currency swaps (144) 119 (103) 160 Total $ (137) $ 128 $ (81) $ 188 _________________ (a) All amounts reclassified from accumulated other comprehensive loss were recorded to interest expense. (b) During the next twelve months, we estimate $86 million in losses will be reclassified into pre-tax earnings from derivatives designated for hedge accounting.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Guarantees of Indebtedness At September 30, 2020, we had no guarantees. Legal Proceedings We are subject to various pending and potential legal and regulatory proceedings in the ordinary course of business, including litigation, arbitration, claims, investigations, examinations, subpoenas and enforcement proceedings. Some litigation against us could take the form of class actions. The outcome of these proceedings is inherently uncertain, and thus we cannot confidently predict how or when proceedings will be resolved. An adverse outcome in one or more of these proceedings could result in substantial damages, settlements, fines, penalties, diminished income or reputational harm. We identify below the material proceedings in connection with which we believe a material loss is reasonably possible or probable. In accordance with the current accounting standards for loss contingencies, we establish reserves for legal matters when it is probable that a loss associated with the matter has been incurred and the amount of the loss can be reasonably estimated. The actual costs of resolving legal matters may be higher or lower than any amounts reserved for these matters. At September 30, 2020, we estimated our reasonably possible legal exposure for unfavorable outcomes is approximately $26 million, and we have accrued $14 million. In 2014 and 2015, we were served with investigative subpoenas from various state attorneys general and other governmental offices to produce documents and data relating to our automobile loan and lease business and securitization of loans and leases. We believe that we have cooperated fully with all reasonable requests for information. We are currently unable to estimate any reasonably possible loss or range of loss that may result from these investigations. Other Administrative Tax Matters We accrue non-income tax liabilities for contingencies when management believes that a loss is probable and the amounts can be reasonably estimated, while contingent gains are recognized only when realized. In the event any losses are sustained in excess of accruals, they will be charged against income at that time. In evaluating indirect tax matters, we take into consideration factors such as our historical experience with matters of similar nature, specific facts and circumstances, and the likelihood of prevailing. We reevaluate and update our accruals as matters progress over time. Where there is a reasonable possibility that losses exceeding amounts already recognized may be incurred, our estimate of the additional range of loss is up to $10 million at September 30, 2020.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Stockholders' Equity	Shareholders' Equity September 30, 2020 December 31, 2019 Common Stock Number of shares authorized 10,000,000 10,000,000 Number of shares issued and outstanding 5,050,000 5,050,000 During the nine months ended September 30, 2020, our Board of Directors declared and paid dividends of $800 million on our common stock to General Motors Holdings LLC. September 30, 2020 December 31, 2019 Preferred Stock Number of shares authorized 250,000,000 250,000,000 Number of shares issued and outstanding Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock, Series A (Series A Preferred Stock) 1,000,000 1,000,000 Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock, Series B (Series B Preferred Stock) 500,000 500,000 Fixed-Rate Reset Cumulative Perpetual Preferred Stock, 500,000 — During the nine months ended September 30, 2020, we paid dividends of $58 million to holders of record of our Series A Preferred Stock, and $32 million to holders of record of our Series B Preferred Stock. During the nine months ended September 30, 2019, we paid dividends of $58 million to holders of record of our Series A Preferred Stock, and $33 million to holders of record of our Series B Preferred Stock. In September 2020, we issued 500,000 shares, par value $0.01 per share, of Series C Preferred Stock, at a liquidation preference of $1,000 per share, for net proceeds of approximately $492 million. Holders of Series C Preferred Stock are entitled to receive cash dividend payments when, as and if declared by our Board of Directors (or a duly authorized committee of our Board of Directors). Dividends on the Series C Preferred Stock accrue and are payable at a rate per annum equal to 5.700% from the date of issuance to, but excluding, September 30, 2030 (the “First Reset Date”). Thereafter, the dividend rate will be reset on the First Reset Date and on September 30th of every fifth year thereafter (the First Reset Date and each such date thereafter, a "Reset Date," and the period from, and including, a Reset Date to, but excluding, the following Reset Date, a "Reset Period"). From and including the First Reset Date, dividends on the Series C Preferred Stock will accrue and be payable at a rate per annum equal to the five-year U.S. Treasury Rate as of the second business day preceding the applicable Reset Date plus 4.997% for each Reset Period. Dividends will be payable semi-annually in arrears on March 30 and September 30 of each year, beginning on March 30, 2021. Dividends on the Series C Preferred Stock are cumulative whether or not we have earnings, there are funds legally available for the payment of the dividends or the dividends are authorized or declared. The Series C Preferred Stock does not have a maturity date. We may, at our option, redeem the shares of the Series C Preferred Stock, in whole or in part, on any dividend payment date on or after the First Reset Date, at a price of $1,000 per share of Series C Preferred Stock plus all accumulated and unpaid dividends to, but excluding, the date of redemption. The following table summarizes the significant components of accumulated other comprehensive loss: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Unrealized loss on hedges Beginning balance $ (200) $ (24) $ (49) $ 9 Change in value of hedges, net of tax 17 (12) (134) (45) Ending balance (183) (36) (183) (36) Defined benefit plans Beginning balance 1 1 1 1 Unrealized gain on subsidiary pension, net of tax — — — — Ending balance 1 1 1 1 Foreign currency translation adjustment Beginning balance (1,464) (1,011) (1,071) (1,076) Translation gain (loss), net of tax 82 (164) (311) (99) Ending balance (1,382) (1,175) (1,382) (1,175) Total accumulated other comprehensive loss $ (1,564) $ (1,210) $ (1,564) $ (1,210)

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For interim income tax reporting we estimate our annual effective tax rate and apply it to our year-to-date ordinary income. Tax jurisdictions with a projected or year-to-date loss for which a tax benefit cannot be realized are excluded from the annualized effective tax rate. The tax effects of unusual or infrequently occurring items, including changes in judgment about valuation allowances and effects of changes in tax laws or rates, are reported in the interim period in which they occur. In the three and nine months ended September 30, 2020, income tax expense of $314 million and $430 million was primarily due to tax expense attributable to entities included in our effective tax rate calculation. In the three and nine months ended September 30, 2019, income tax expense of $195 million and $416 million was primarily due to tax expense attributable to entities included in our effective tax rate calculation and a reduction for our electric vehicle tax credit in 2019. We are included in GM’s consolidated U.S. federal income tax return and for certain states’ income tax returns. Net operating losses and certain tax credits generated by us have been utilized by GM; however, income tax expense and deferred tax balances are presented in these financial statements as if we filed our own tax returns in each jurisdiction.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Our chief operating decision maker evaluates the operating results and performance of our business based on our North America and International Segments. The management of each segment is responsible for executing our strategies. Key operating data for our operating segments were as follows: Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 North International Total North International Total Total revenue $ 3,196 $ 225 $ 3,421 $ 3,355 $ 304 $ 3,659 Operating expenses 312 82 394 291 93 384 Leased vehicle expenses 1,114 12 1,126 1,557 17 1,574 Provision for loan losses (26) 57 31 113 37 150 Interest expense 643 66 709 759 120 879 Equity income — 46 46 — 39 39 Income before income taxes $ 1,153 $ 54 $ 1,207 $ 635 $ 76 $ 711 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 North International Total North International Total Total revenue $ 9,670 $ 735 $ 10,405 $ 9,993 $ 925 $ 10,918 Operating expenses 879 218 1,097 848 283 1,131 Leased vehicle expenses 4,566 36 4,602 4,987 38 5,025 Provision for loan losses 609 215 824 394 110 504 Interest expense 2,091 241 2,332 2,413 365 2,778 Equity income — 113 113 — 126 126 Income before income taxes $ 1,525 $ 138 $ 1,663 $ 1,351 $ 255 $ 1,606 September 30, 2020 December 31, 2019 North International Total North International Total Finance receivables, net $ 50,623 $ 4,530 $ 55,153 $ 46,679 $ 6,794 $ 53,473 Leased vehicles, net $ 39,213 $ 145 $ 39,358 $ 41,881 $ 174 $ 42,055 Total assets $ 101,762 $ 7,449 $ 109,211 $ 99,453 $ 9,764 $ 109,217

Regulatory Capital and Other Re

Regulatory Capital and Other Regulatory Matters	9 Months Ended
	Sep. 30, 2020
Regulatory Capital and Other Regulatory Matters [Abstract]
Regulatory Capital and Other Regulatory Matters	Regulatory Capital and Other Regulatory MattersWe are required to comply with a wide variety of laws and regulations. Certain of our entities operate in international markets as either banks or regulated finance companies that are subject to regulatory restrictions. These regulatory restrictions, among other things, require that certain of these entities meet minimum capital requirements and may restrict dividend distributions and ownership of certain assets. We were in compliance with all regulatory capital requirements as most recently reported. Total assets of our regulated international banks and finance companies were approximately $5.4 billion and $7.8 billion at September 30, 2020 and December 31, 2019.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements include our accounts and the accounts of our consolidated subsidiaries, including certain special purpose entities (SPEs) utilized in secured financing transactions, which are considered variable interest entities (VIEs). All intercompany balances and transactions have been eliminated in consolidation. The consolidated financial statements, including the notes thereto, are condensed and do not include all disclosures required by generally accepted accounting principles (GAAP) in the U.S. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements that are included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as filed with the Securities and Exchange Commission (SEC) on February 5, 2020 (2019 Form 10-K). Except as otherwise specified, dollar amounts presented within tables are stated in millions. The condensed consolidated financial statements at September 30, 2020, and for the three and nine months ended September 30, 2020 and 2019, are unaudited and, in management’s opinion, include all adjustments, which consist of normal recurring adjustments and transactions or events discretely impacting the interim periods, considered necessary by management to fairly state our results of operations. The results for interim periods are not necessarily indicative of results for a full year. The condensed consolidated balance sheet at December 31, 2019 was derived from audited annual financial statements.
Segment Information	Segment Information We are the wholly-owned captive finance subsidiary of General Motors Company (GM). We offer substantially similar products and services throughout many different regions, subject to local regulations and market conditions. We evaluate our business in two operating segments: North America (the North America Segment) and International (the International Segment). Our North America Segment includes operations in the U.S. and Canada. Our International Segment includes operations in Brazil, Chile, Colombia, Mexico and Peru, as well as our equity investments in joint ventures in the Asia/Pacific region.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards Effective January 1, 2020, we adopted Accounting Standards Update (ASU) 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments" (ASU 2016-13), which requires entities to use a new impairment model based on current expected credit losses (CECL) rather than incurred losses. Estimated credit losses under CECL consider relevant information about past events, current conditions and reasonable and supportable forecasts that affect the collectability of finance receivables, resulting in recognition of lifetime expected credit losses upon origination of the related finance receivable. We adopted ASU 2016-13 Retail Finance Receivables and the Allowance for Loan Losses Our retail finance receivables portfolio consists of smaller-balance, homogeneous loans that are carried at amortized cost, net of allowance for loan losses. These loans are divided among pools based on common risk characteristics, such as internal credit score, origination period (vintage) and geography. An internal credit score, of which FICO is an input in North America, is created by using algorithms or statistical models contained in origination scorecards. The scorecards are used to evaluate a consumer’s ability to pay based on statistical modeling of his or her prior credit usage, structure of the loan and other information. The output of the scorecards rank-orders consumers from those that are least likely to default to those that are most likely to default. By further dividing the portfolio into pools based on internal credit scores, we are better able to distinguish expected credit performance for different credit risks. The allowance is aggregated for each of the pools. Provisions for loan losses are charged to operations in amounts sufficient to maintain the allowance for loan losses at levels considered adequate to cover expected credit losses on our retail finance receivables portfolio. We use static pool modeling techniques to determine the allowance for loan losses expected over the remaining life of the receivables, which is supplemented by management judgment. We assess the recent internal operating and external environments and may qualitatively adjust certain assumptions to result in an allowance that is more reflective of losses that are expected to occur in the forecast environment. Expected losses are estimated for groups of accounts aggregated by internal credit score and monthly vintage. Generally, the expected losses are projected based on historical loss experience over the last ten years, more heavily weighted toward recent performance when determining the allowance to result in an estimate that is more reflective of the current internal and external environments. We consider forecast economic conditions over a reasonable and supportable forecast period. We determine the expected remaining life of the finance receivables to be a reasonable and supportable forecast horizon, primarily due to the relatively short weighted average life of retail finance receivables. We determined the economic factors that have the largest impact on expected losses include unemployment rates, interest rate spreads, disposable personal income, and growth rates in gross domestic products. We use forecasts for our chosen factors provided by a leading economic research firm. We compare the forecasts to consensus forecasts to assess for reasonableness and may use one or more forecast scenarios provided by the research firm. Troubled debt restructurings (TDRs) are grouped separately for purposes of measuring the allowance. The allowance for TDRs uses static pool modeling techniques, similar to non-TDR retail finance receivables, to determine the expected loss amount. The expected cash flows of the receivables are then discounted at the original weighted average effective interest rate of the pool. Factors considered when estimating the TDR allowance are based on an evaluation of historical and current information, and may be supplemented by management judgment. While we expect certain of our finance receivables to become TDRs, there is typically no delay between the point at which we become aware that a receivable is expected to become a TDR and when the receivable actually qualifies as a TDR. Therefore, our TDR portfolio does not include any receivables that are expected to become TDRs. We believe these factors are relevant in estimating expected losses and also consider an evaluation of overall portfolio credit quality based on indicators such as changes in our credit evaluation, underwriting and collection management policies, changes in the legal and regulatory environment, general economic conditions and business trends and uncertainties in forecasting and modeling techniques used in estimating our allowance. We update our retail loss forecast models and portfolio indicators on a quarterly basis to incorporate information reflective of the current and forecast economic environments. Assumptions regarding credit losses are reviewed periodically and may be impacted by actual performance of finance receivables and changes in any of the factors discussed above. Should the credit loss assumptions increase, there would be an increase in the amount of allowance for loan losses required, which would decrease the net carrying value of finance receivables and increase the amount of provision for loan losses. Commercial Finance Receivables and the Allowance for Loan Losses Our commercial lending offerings consist of floorplan financing as well as dealer loans, which are loans to finance improvements to dealership facilities, to provide working capital, and to purchase and/or finance dealership real estate. Commercial finance receivables are carried at amortized cost, net of allowance for loan losses and any amounts held under a cash management program. Provisions for loan losses are charged to operations in amounts sufficient to maintain the allowance for loan losses at levels considered adequate to cover expected credit losses in the commercial finance receivables portfolio. We establish the allowance for loan losses based on historical loss experience, as well as the forecast for industry vehicle sales, which is the economic indicator that we believe has the largest impact on expected losses. The commercial finance receivables are aggregated into loan-risk pools, which are determined based on our internally-developed risk rating system. Dealers' financial and operating metrics are regularly scored and further evaluated to derive a risk rating. Based on dealer risk ratings, we establish probability of default and loss given default, and also determine if any specific dealer loan requires additional reserves. In March 2020, the Financial Accounting Standards Board issued ASU 2020-04, “Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting” (ASU 2020-04), which provides optional expedients and exceptions for applying U.S. GAAP if certain criteria are met to contracts, hedging relationships and other transactions that reference LIBOR or another reference rate expected to be discontinued. A substantial portion of our indebtedness bears interest at variable interest rates, primarily based on USD-LIBOR. Effective July 1, 2020, we adopted ASU 2020-04 on a prospective basis. The adoption of, and future elections under, ASU 2020-04 are not expected to have a material impact on our consolidated financial statements as the standard will ease, if warranted, the requirements for accounting for the future effects of the rate reform. We continue to monitor the impact the discontinuance of LIBOR or another reference rate will have on our contracts, hedging relationships and other transactions.

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following tables present related party transactions: Balance Sheet Data September 30, 2020 December 31, 2019 Commercial finance receivables, net due from dealers consolidated by GM (a) $ 399 $ 478 Subvention receivable (b) $ 566 $ 676 Commercial loan funding payable (c) $ 75 $ 74 Taxes payable (c) $ 159 $ 4 Three Months Ended September 30, Nine Months Ended September 30, Income Statement Data 2020 2019 2020 2019 Interest subvention earned on retail finance receivables (d) $ 172 $ 137 $ 464 $ 401 Interest subvention earned on commercial finance receivables (d) $ 6 $ 16 $ 32 $ 47 Leased vehicle subvention earned (e) $ 749 $ 814 $ 2,319 $ 2,467 _________________ (a) Included in finance receivables, net. (b) Included in related party receivables. We received subvention payments from GM of $943 million and $1.0 billion for the three months ended September 30, 2020 and 2019 and $3.0 billion and $3.1 billion for the nine months ended September 30, 2020 and 2019. (c) Included in related party payables. (d) Included in finance charge income. (e) Included as a reduction to leased vehicle expenses.

Finance Receivables (Tables)

Finance Receivables (Tables)	9 Months Ended
	Sep. 30, 2020
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Finance Receivables, Net	September 30, 2020 December 31, 2019 Retail finance receivables Retail finance receivables, net of fees (a) $ 48,695 $ 42,268 Less: allowance for loan losses (1,936) (866) Total retail finance receivables, net 46,759 41,402 Commercial finance receivables Commercial finance receivables, net of fees (b) 8,461 12,149 Less: allowance for loan losses (67) (78) Total commercial finance receivables, net 8,394 12,071 Total finance receivables, net $ 55,153 $ 53,473 Fair value utilizing Level 2 inputs $ 8,394 $ 12,071 Fair value utilizing Level 3 inputs $ 48,973 $ 42,012 ________________ (a) Net of unearned income, unamortized premiums and discounts, and deferred fees and costs of $63 million and $83 million at September 30, 2020 and December 31, 2019. (b) Net of dealer cash management balances of $1.4 billion and $1.2 billion at September 30, 2020 and December 31, 2019.
Allowance for Credit Losses on Financing Receivables	A summary of the activity in the allowance for retail loan losses is as follows: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Allowance for retail loan losses beginning balance $ 2,044 $ 881 $ 866 $ 844 Impact of adopting ASU 2016-13 Note 1 ) — — 801 — Provision for loan losses 31 149 819 492 Charge-offs (280) (300) (876) (886) Recoveries 133 133 378 410 Foreign currency translation 8 (7) (52) (4) Allowance for retail loan losses ending balance $ 1,936 $ 856 $ 1,936 $ 856
Financing Receivable Credit Quality Indicators	A summary of the amortized cost 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, 2020 is as follows: Year of Origination 2020 2019 2018 2017 2016 2015 Prior Total Percent Prime - FICO Score 680 and greater $ 14,746 $ 8,064 $ 5,296 $ 2,348 $ 744 $ 177 $ 5 $ 31,380 64.4 % Near-prime - FICO Score 620 to 679 2,725 2,293 1,392 712 280 103 15 7,520 15.5 Sub-prime - FICO Score less than 620 2,701 2,922 1,785 1,265 707 311 104 9,795 20.1 Retail finance receivables, net of fees $ 20,172 $ 13,279 $ 8,473 $ 4,325 $ 1,731 $ 591 $ 124 $ 48,695 100.0 % Effective January 1, 2020, we updated our commercial risk model and our risk rating categories as follows: Dealer Risk 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 that 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 or liquidation in full highly questionable or improbable. Year of Origination (a) Dealer Risk Rating Revolving 2020 2019 2018 2017 2016 2015 Prior Total Percent I $ 6,723 $ 400 $ 198 $ 92 $ 113 $ 93 $ 44 $ — $ 7,663 90.6 % II 428 1 7 12 15 13 13 22 511 6.0 III 227 — 9 29 2 11 1 — 279 3.3 IV 4 — — — — — 4 — 8 0.1 Balance at end of period $ 7,382 $ 401 $ 214 $ 133 $ 130 $ 117 $ 62 $ 22 $ 8,461 100.0 % ________________ (a) Floorplan advances comprise 98% of the total revolving balance. Dealer term loans are presented by year of origination.
Past Due Financing Receivables	The following table is a consolidated summary of the delinquency status of the outstanding amortized cost of retail finance receivables for each vintage of the portfolio at September 30, 2020: Year of Origination 2020 2019 2018 2017 2016 2015 Prior Total Percent Current $ 19,962 $ 12,848 $ 8,143 $ 4,083 $ 1,580 $ 513 $ 93 $ 47,222 97.0 % 31 - 60 days 147 294 227 167 102 53 19 1,009 2.1 Greater than 60 days 57 122 92 69 45 23 11 419 0.8 Finance receivables more than 30 days delinquent 204 416 319 236 147 76 30 1,428 2.9 In repossession 6 15 11 6 4 2 1 45 0.1 Finance receivables more than 30 days delinquent or in repossession 210 431 330 242 151 78 31 1,473 3.0 Retail finance receivables, net of fees $ 20,172 $ 13,279 $ 8,473 $ 4,325 $ 1,731 $ 591 $ 124 $ 48,695 100.0 %
Troubled Debt Restructurings on Financing Receivables	Additional TDR activity is presented below: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2018 2020 2019 2018 Number of loans classified as TDRs during the period 13,785 19,074 17,924 43,431 53,013 51,020 Outstanding amortized cost of loans classified as TDRs during the period $ 254 $ 343 $ 319 $ 789 $ 969 $ 932

Leased Vehicles (Tables)

Leased Vehicles (Tables)	9 Months Ended
	Sep. 30, 2020
Lessor Disclosure [Abstract]
Summary of Leased Vehicles	September 30, 2020 December 31, 2019 Leased vehicles $ 59,104 $ 62,767 Manufacturer subvention (9,112) (9,731) Net capitalized cost 49,992 53,036 Less: accumulated depreciation (10,634) (10,981) Leased vehicles, net $ 39,358 $ 42,055
Schedule of Future Minimum Rental Payments Receivable For Operating Leases	The following table summarizes minimum rental payments due to us as lessor under operating leases at September 30, 2020: Years Ending December 31, 2020 2021 2022 2023 2024 Thereafter Total Lease payments under operating leases $ 1,714 $ 5,548 $ 3,108 $ 865 $ 52 $ 1 $ 11,288

Goodwill (Tables)

Goodwill (Tables)	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The following table summarizes the change in the carrying amounts of goodwill by segment: Nine Months Ended September 30, 2020 2019 North America International Total North America International Total Beginning balance $ 1,105 $ 80 $ 1,185 $ 1,105 $ 81 $ 1,186 Foreign currency translation — (18) (18) — (4) (4) Ending balance $ 1,105 $ 62 $ 1,167 $ 1,105 $ 77 $ 1,182

Equity in Net Assets of Non-c_2

Equity in Net Assets of Non-consolidated Affiliates (Tables)	9 Months Ended
	Sep. 30, 2020
Noncontrolling Interest [Abstract]
Summarized Financial Data of Nonconsolidated Affiliates	The following table presents certain aggregated operating data of our joint ventures: Three Months Ended September 30, Nine Months Ended September 30, Summarized Operating Data 2020 2019 2020 2019 Finance charge income $ 355 $ 330 $ 1,049 $ 1,024 Income before income taxes $ 174 $ 150 $ 428 $ 481 Net income $ 131 $ 113 $ 321 $ 361

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2020
Debt Disclosure [Abstract]
Schedule of Debt	September 30, 2020 December 31, 2019 Carrying Amount Fair Value Carrying Amount Fair Value Secured debt Revolving credit facilities $ 2,048 $ 2,050 $ 6,152 $ 6,160 Securitization notes payable 33,623 34,058 33,807 34,000 Total secured debt 35,671 36,108 39,959 40,160 Unsecured debt Senior notes 47,935 49,008 43,679 44,937 Credit facilities 1,417 1,415 1,936 1,936 Other unsecured debt 3,799 3,803 3,364 3,366 Total unsecured debt 53,151 54,226 48,979 50,239 Total secured and unsecured debt $ 88,822 $ 90,334 $ 88,938 $ 90,399 Fair value utilizing Level 2 inputs $ 88,768 $ 88,481 Fair value utilizing Level 3 inputs $ 1,566 $ 1,918

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2020
Securitization and Credit Facility VIEs [Member]
Variable Interest Entity [Line Items]
Schedule of Variable Interest Entities	The following table summarizes the assets and liabilities related to our consolidated VIEs: September 30, 2020 December 31, 2019 Restricted cash (a) $ 2,725 $ 2,643 Finance receivables, net of fees $ 28,762 $ 35,392 Lease related assets $ 16,594 $ 14,464 Secured debt $ 35,475 $ 39,771 _______________ (a) Included in other assets.

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments	The table below presents the gross fair value amounts of our derivative financial instruments and the associated notional amounts: September 30, 2020 December 31, 2019 Notional Fair Value of Assets (a) Fair Value of Liabilities (a) Notional Fair Value of Assets (a) Fair Value of Liabilities (a) Derivatives designated as hedges Fair value hedges Interest rate swaps $ 10,050 $ 496 $ 2 $ 9,458 $ 234 $ 23 Foreign currency swaps 1,876 77 39 1,796 22 71 Cash flow hedges Interest rate swaps 914 — 28 590 — 6 Foreign currency swaps 5,365 98 138 4,429 40 119 Derivatives not designated as hedges Interest rate contracts 110,059 1,023 692 92,400 340 300 Total (b) $ 128,264 $ 1,694 $ 899 $ 108,673 $ 636 $ 519 _________________ (a) The gross amounts of the fair value of our assets and liabilities are included in other assets and other liabilities, respectively. 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. All our derivatives are categorized within Level 2 of the fair value hierarchy. The fair value for Level 2 instruments was derived using the market approach based on observable market inputs including quoted prices of similar instruments and foreign exchange and interest rate forward curves. (b) We primarily enter into derivative instruments through AmeriCredit Financial Services, Inc. (AFSI); however, our SPEs may also be parties to derivative instruments. Agreements between AFSI and its derivative counterparties include rights of setoff for positions with offsetting values or for collateral held or posted. At September 30, 2020 and December 31, 2019, the fair value of assets and liabilities available for offset was $619 million and $302 million. At September 30, 2020 and December 31, 2019, we held $779 million and $210 million of collateral from counterparties that is available for netting against our asset positions. At September 30, 2020 and December 31, 2019, we posted $195 million and $89 million of collateral to counterparties that is available for netting against our liability positions.
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location	The following amounts were recorded in the condensed consolidated balance sheet related to items designated and qualifying as hedged items in fair value hedging relationships: Carrying Amount of Cumulative Amount of Fair Value (a) September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 Unsecured debt $ 24,275 $ 20,397 $ (713) $ (77) _________________ (a) Includes $197 million of unamortized gains and $69 million of unamortized losses remaining on hedged items for which hedge accounting has been discontinued at September 30, 2020 and December 31, 2019.
Effect of Derivative Instruments on the Condensed Consolidated Statements of Income	The tables below present the effect of our derivative financial instruments in the condensed consolidated statements of income: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Interest Expense (a) Operating Expenses (b) Interest Expense (a) Operating Expenses (b) Interest Expense (a) Operating Expenses (b) Interest Expense (a) Operating Expenses (b) Fair value hedges Hedged items - interest rate swaps $ 14 $ — $ (159) $ — $ (555) $ — $ (682) $ — Interest rate swaps (86) — 80 — 289 — 546 — Hedged items - foreign currency swaps — (79) — 78 — (80) — 85 Foreign currency swaps (5) 80 (15) (77) (26) 84 (46) (81) Cash flow hedges Interest rate swaps (5) — 1 — (8) — 5 — Foreign currency swaps (25) 216 (23) (134) (82) 223 (62) (149) Derivatives not designated as hedges Interest rate contracts 83 — 89 — 244 — 79 — Total (losses) income recognized $ (24) $ 217 $ (27) $ (133) $ (138) $ 227 $ (160) $ (145) _________________ (a) Total interest expense was $709 million and $879 million for the three months ended September 30, 2020 and 2019 and $2.3 billion and $2.8 billion for the nine months ended September 30, 2020 and 2019. (b) Activity is offset by translation activity also recorded in operating expenses related to foreign currency-denominated loans. Total operating expenses were $394 million and $384 million for the three months ended September 30, 2020 and 2019 and $1.1 billion for both the nine months ended September 30, 2020 and 2019. The tables below present the effect of our derivative financial instruments in the condensed consolidated statements of comprehensive income: Gains (Losses) Recognized In Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Fair value hedges Foreign currency swaps $ (4) $ (10) $ (16) $ (30) Cash flow hedges Interest rate swaps — (3) (15) (5) Foreign currency swaps 158 (127) (22) (198) Total $ 154 $ (140) $ (53) $ (233) (Gains) Losses Reclassified From (a)(b) Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Fair value hedges Foreign currency swaps $ 4 $ 10 $ 17 $ 32 Cash flow hedges Interest rate swaps 3 (1) 5 (4) Foreign currency swaps (144) 119 (103) 160 Total $ (137) $ 128 $ (81) $ 188 _________________ (a) All amounts reclassified from accumulated other comprehensive loss were recorded to interest expense. (b) During the next twelve months, we estimate $86 million in losses will be reclassified into pre-tax earnings from derivatives designated for hedge accounting.

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Equity [Abstract]
Summary of Common and Preferred Stock	September 30, 2020 December 31, 2019 Common Stock Number of shares authorized 10,000,000 10,000,000 Number of shares issued and outstanding 5,050,000 5,050,000 During the nine months ended September 30, 2020, our Board of Directors declared and paid dividends of $800 million on our common stock to General Motors Holdings LLC. September 30, 2020 December 31, 2019 Preferred Stock Number of shares authorized 250,000,000 250,000,000 Number of shares issued and outstanding Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock, Series A (Series A Preferred Stock) 1,000,000 1,000,000 Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock, Series B (Series B Preferred Stock) 500,000 500,000 Fixed-Rate Reset Cumulative Perpetual Preferred Stock, 500,000 —
Schedule of Accumulated Other Comprehensive Loss	The following table summarizes the significant components of accumulated other comprehensive loss: Three Months Ended September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Unrealized loss on hedges Beginning balance $ (200) $ (24) $ (49) $ 9 Change in value of hedges, net of tax 17 (12) (134) (45) Ending balance (183) (36) (183) (36) Defined benefit plans Beginning balance 1 1 1 1 Unrealized gain on subsidiary pension, net of tax — — — — Ending balance 1 1 1 1 Foreign currency translation adjustment Beginning balance (1,464) (1,011) (1,071) (1,076) Translation gain (loss), net of tax 82 (164) (311) (99) Ending balance (1,382) (1,175) (1,382) (1,175) Total accumulated other comprehensive loss $ (1,564) $ (1,210) $ (1,564) $ (1,210)

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2020
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Key operating data for our operating segments were as follows: Three Months Ended September 30, 2020 Three Months Ended September 30, 2019 North International Total North International Total Total revenue $ 3,196 $ 225 $ 3,421 $ 3,355 $ 304 $ 3,659 Operating expenses 312 82 394 291 93 384 Leased vehicle expenses 1,114 12 1,126 1,557 17 1,574 Provision for loan losses (26) 57 31 113 37 150 Interest expense 643 66 709 759 120 879 Equity income — 46 46 — 39 39 Income before income taxes $ 1,153 $ 54 $ 1,207 $ 635 $ 76 $ 711 Nine Months Ended September 30, 2020 Nine Months Ended September 30, 2019 North International Total North International Total Total revenue $ 9,670 $ 735 $ 10,405 $ 9,993 $ 925 $ 10,918 Operating expenses 879 218 1,097 848 283 1,131 Leased vehicle expenses 4,566 36 4,602 4,987 38 5,025 Provision for loan losses 609 215 824 394 110 504 Interest expense 2,091 241 2,332 2,413 365 2,778 Equity income — 113 113 — 126 126 Income before income taxes $ 1,525 $ 138 $ 1,663 $ 1,351 $ 255 $ 1,606 September 30, 2020 December 31, 2019 North International Total North International Total Finance receivables, net $ 50,623 $ 4,530 $ 55,153 $ 46,679 $ 6,794 $ 53,473 Leased vehicles, net $ 39,213 $ 145 $ 39,358 $ 41,881 $ 174 $ 42,055 Total assets $ 101,762 $ 7,449 $ 109,211 $ 99,453 $ 9,764 $ 109,217

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)segment	Jun. 30, 2020USD ($)	Mar. 31, 2020USD ($)	Jan. 01, 2020USD ($)	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Accounting Policies [Abstract]
Number of operating segments | segment	2
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Accounting Standards Update [Extensible List]	us-gaap:AccountingStandardsUpdate201613Member
Adoption of accounting standard (Note 1)	$ 12,547	$ 11,053	$ 11,316		$ 12,726	$ 12,688	$ 12,385	$ 11,984	$ 11,659
Cumulative Effect, Period of Adoption, Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of accounting standard (Note 1)					(643)
Allowance For Credit Losses [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of accounting standard (Note 1)				$ 801
Retained Earnings [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of accounting standard (Note 1)	$ 5,489	$ 4,596	$ 4,868		5,744	$ 5,813	$ 5,342	$ 4,939	$ 4,667
Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Accounting Standards Update 2016-13 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Adoption of accounting standard (Note 1)				$ (643)	$ (643)

Related Party Transactions - Tr

Related Party Transactions - Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Commercial Finance Receivables [Member]
Related Party Transaction [Line Items]
Finance receivables, net due	$ 8,394		$ 8,394		$ 12,071
Retail Finance Receivables [Member]
Related Party Transaction [Line Items]
Finance receivables, net due	46,759		46,759		41,402
Affiliated Entity [Member]
Related Party Transaction [Line Items]
Subvention receivable	566		566		676
Leased vehicle subvention earned	749	$ 814	2,319	$ 2,467
Affiliated Entity [Member] | Commercial Finance Receivables [Member]
Related Party Transaction [Line Items]
Finance receivables, net due	399		399		478
Commercial loan funding payable	75		75		74
Taxes payable	159		159		$ 4
Interest subvention earned	6	16	32	47
Affiliated Entity [Member] | Retail Finance Receivables [Member]
Related Party Transaction [Line Items]
Interest subvention earned	172	137	464	401
Parent Company [Member]
Related Party Transaction [Line Items]
Revenue from related parties	$ 943	$ 1,000	$ 3,000	$ 3,100

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($)	1 Months Ended		9 Months Ended
	Oct. 31, 2020	Apr. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Related Party Transaction [Line Items]
Long-term line of credit			$ 0
Repayments on secured debt			36,432,000,000	$ 21,707,000,000
Junior Subordinated Revolving Credit Facility [Member] | General Motors [Member]
Related Party Transaction [Line Items]
Line of credit facilities - GM Related party facility			1,000,000,000
Revolving Credit Facility [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity			$ 17,300,000,000
Line of Credit [Member]
Related Party Transaction [Line Items]
Debt instrument term			4 years
Line of Credit [Member] | Revolving Credit Facility [Member] | General Motors [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity			$ 14,500,000,000
Line of Credit [Member] | Revolving Credit Facility [Member] | Three Year Revolving Credit Facility [Member] | General Motors [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity		$ 4,000,000,000	$ 4,000,000,000
Debt instrument term		3 years	3 years
Long-term line of credit			$ 200,000,000
Line of Credit [Member] | Revolving Credit Facility [Member] | Five Year Revolving Credit Facility [Member] | General Motors [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity			$ 10,500,000,000
Debt instrument term		5 years	5 years
Line of Credit [Member] | Revolving Credit Facility [Member] | Five Year Revolving Credit Facility [Member] | General Motors [Member] | Subsequent Event [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity	$ 10,500,000,000
Debt instrument term	5 years
Repayments on secured debt	$ 3,900,000,000
Line of Credit [Member] | Revolving Credit Facility [Member] | Three Hundred and Sixty-Four Day Revolving Credit Facilities [Member] | General Motors [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity		$ 2,000,000,000	$ 2,000,000,000
Debt instrument term		364 days	364 days
Line of Credit [Member] | Revolving Credit Facility [Member] | Three Year Revolving Credit Facility Expiring April 2022 [Member] | General Motors [Member]
Related Party Transaction [Line Items]
Maximum borrowing capacity		$ 3,600,000,000
Purchase of Retail Finance Receivables [Member] | Parent Company [Member]
Related Party Transaction [Line Items]
Related party purchases			$ 190,000,000	$ 689,000,000

Finance Receivables - Narrative

Finance Receivables - Narrative (Details) - Retail Finance Receivables [Member] - USD ($) $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accrual of finance charge income	$ 742			$ 742			$ 875
Troubled debt restructurings	2,300			2,300
Nonaccrual loans	317			317
Unpaid principal balances, net of recoveries	$ 12	$ 19	$ 20	$ 27	$ 33	$ 32

Finance Receivables - Finance R

Finance Receivables - Finance Receivables, net (Details) - USD ($) $ in Millions	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net	$ 55,153		$ 53,473
Level 2 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value utilizing inputs	8,394		12,071
Level 3 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value utilizing inputs	48,973		42,012
Retail Finance Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net of fees	48,695		42,268
Less: allowance for loan losses	(1,936)	$ (2,044)	(866)	$ (856)	$ (881)	$ (844)
Total finance receivables, net	46,759		41,402
Deferred income	63		83
Commercial Finance Receivables [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net of fees	8,461		12,149
Less: allowance for loan losses	(67)		(78)
Total finance receivables, net	8,394		12,071
Dealer cash management balances	$ 1,400		$ 1,200

Finance Receivables - Allowance

Finance Receivables - Allowance for Loan Losses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Accounting Standards Update [Extensible List]			us-gaap:AccountingStandardsUpdate201613Member
Retail Finance Receivables [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for retail loan losses beginning balance	$ 2,044	$ 881	$ 866	$ 844
Provision for loan losses	31	149	819	492
Charge-offs	(280)	(300)	(876)	(886)
Recoveries	133	133	378	410
Foreign currency translation	8	(7)	(52)	(4)
Allowance for retail loan losses ending balance	$ 1,936	$ 856	1,936	$ 856
Retail Finance Receivables [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for retail loan losses beginning balance			$ 801

Finance Receivables - Credit Ri

Finance Receivables - Credit Risk Profile by FICO Score (Details) - Retail Finance Receivables [Member] - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
2020	$ 20,172
2019	13,279
2018	8,473
2017	4,325
2016	1,731
2015	591
Prior	124
Total	$ 48,695	$ 42,268
Percent of portfolio	100.00%
Prime - FICO Score 680 and greater [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2020	$ 14,746
2019	8,064
2018	5,296
2017	2,348
2016	744
2015	177
Prior	5
Total	$ 31,380
Percent of portfolio	64.40%
Near-prime - FICO Score 620 to 679 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2020	$ 2,725
2019	2,293
2018	1,392
2017	712
2016	280
2015	103
Prior	15
Total	$ 7,520
Percent of portfolio	15.50%
Sub-prime - FICO Score less than 620 [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
2020	$ 2,701
2019	2,922
2018	1,785
2017	1,265
2016	707
2015	311
Prior	104
Total	$ 9,795
Percent of portfolio	20.10%

Finance Receivables - Delinquen

Finance Receivables - Delinquency (Details) - Retail Finance Receivables [Member] - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
2020	$ 20,172
2019	13,279
2018	8,473
2017	4,325
2016	1,731
2015	591
Prior	124
Total	$ 48,695	$ 42,268
Percent of portfolio	100.00%
Total	100.00%
Performing Financial Instruments [Member] | Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
2020	$ 19,962
2019	12,848
2018	8,143
2017	4,083
2016	1,580
2015	513
Prior	93
Current, Total	$ 47,222
Percent of portfolio	97.00%
Nonperforming Financial Instruments [Member]
Financing Receivable, Past Due [Line Items]
2020	$ 210
2019	431
2018	330
2017	242
2016	151
2015	78
Prior	31
Financing receivable past due	$ 1,473
Financing receivable past due (percent)	3.00%
Nonperforming Financial Instruments [Member] | 31 to 60 Days [Member]
Financing Receivable, Past Due [Line Items]
2020	$ 147
2019	294
2018	227
2017	167
2016	102
2015	53
Prior	19
Financing receivable past due	$ 1,009
Financing receivable past due (percent)	2.10%
Nonperforming Financial Instruments [Member] | Greater Than 60 Days [Member]
Financing Receivable, Past Due [Line Items]
2020	$ 57
2019	122
2018	92
2017	69
2016	45
2015	23
Prior	11
Financing receivable past due	$ 419
Financing receivable past due (percent)	0.80%
Nonperforming Financial Instruments [Member] | Financing Receivables, Greater than 30 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
2020	$ 204
2019	416
2018	319
2017	236
2016	147
2015	76
Prior	30
Financing receivable past due	$ 1,428
Financing receivable past due (percent)	2.90%
Nonperforming Financial Instruments [Member] | Financing Receivables, In Repossession [Member]
Financing Receivable, Past Due [Line Items]
2020	$ 6
2019	15
2018	11
2017	6
2016	4
2015	2
Prior	1
Financing receivable past due	$ 45
Financing receivable past due (percent)	0.10%

Finance Receivables - Troubled

Finance Receivables - Troubled Debt Restructurings (Details) - Retail Finance Receivables [Member] $ in Millions	3 Months Ended			9 Months Ended
	Sep. 30, 2020USD ($)loan	Sep. 30, 2019USD ($)loan	Sep. 30, 2018USD ($)loan	Sep. 30, 2020USD ($)loan	Sep. 30, 2019USD ($)loan	Sep. 30, 2018USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans classified as TDRs during the period | loan	13,785	19,074	17,924	43,431	53,013	51,020
Outstanding amortized cost of loans classified as TDRs during the period | $	$ 254	$ 343	$ 319	$ 789	$ 969	$ 932

Finance Receivables - Credit _2

Finance Receivables - Credit Risk Profile by Dealer (Details) - Commercial Finance Receivables [Member] - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 7,382
2020	401
2019	214
2018	133
2017	130
2016	117
2015	62
Prior	22
Total	$ 8,461	$ 12,149
Percent of portfolio	100.00%
Floorplan Advances [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent of revolving balance	98.00%
Group I - Performing accounts with strong to acceptable financial metrics [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 6,723
2020	400
2019	198
2018	92
2017	113
2016	93
2015	44
Prior	0
Total	$ 7,663
Percent of portfolio	90.60%
Group II - Performing accounts experiencing potential weakness in financial metrics [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 428
2020	1
2019	7
2018	12
2017	15
2016	13
2015	13
Prior	22
Total	$ 511
Percent of portfolio	6.00%
Group III - Non-Performing accounts with inadequate paying capacity for current obligations [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 227
2020	0
2019	9
2018	29
2017	2
2016	11
2015	1
Prior	0
Total	$ 279
Percent of portfolio	3.30%
Group IV - Non-Performing accounts with inadequate paying capacity for current obligations and inherent weaknesses [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 4
2020	0
2019	0
2018	0
2017	0
2016	0
2015	4
Prior	0
Total	$ 8
Percent of portfolio	0.10%

Leased Vehicles - Summary of Le

Leased Vehicles - Summary of Leased Vehicles (Details) - Assets Leased to Others [Member] - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Lessor, Lease, Description [Line Items]
Leased vehicles	$ 59,104	$ 62,767
Manufacturer subvention	(9,112)	(9,731)
Net capitalized cost	49,992	53,036
Less: accumulated depreciation	(10,634)	(10,981)
Leased vehicles, net	$ 39,358	$ 42,055

Leased Vehicles - Minimum Renta

Leased Vehicles - Minimum Rental Payments (Details) $ in Millions	Sep. 30, 2020USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2020	$ 1,714
2021	5,548
2022	3,108
2023	865
2024	52
Thereafter	1
Total	$ 11,288

Goodwill (Details)

Goodwill (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Goodwill [Roll Forward]
Balance at beginning of period	$ 1,185	$ 1,186
Foreign currency translation	(18)	(4)
Balance at end of period	1,167	1,182
North America Segment [Member]
Goodwill [Roll Forward]
Balance at beginning of period	1,105	1,105
Foreign currency translation	0	0
Balance at end of period	1,105	1,105
International Segment [Member]
Goodwill [Roll Forward]
Balance at beginning of period	80	81
Foreign currency translation	(18)	(4)
Balance at end of period	$ 62	$ 77

Equity in Net Assets of Non-c_3

Equity in Net Assets of Non-consolidated Affiliates (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Noncontrolling Interest [Line Items]
Finance charge income	$ 999	$ 1,043	$ 2,971	$ 3,038
Income before income taxes	1,207	711	1,663	1,606
Net income	46	39	113	126
Joint Ventures [Member]
Noncontrolling Interest [Line Items]
Finance charge income	355	330	1,049	1,024
Income before income taxes	174	150	428	481
Net income	131	$ 113	321	$ 361
Undistributed earnings	609		$ 609		$ 615
SAIC-GMAC [Member]
Noncontrolling Interest [Line Items]
Cash dividends	294
Proceeds from dividends received	$ 103

Restricted Cash (Details)

Restricted Cash (Details) $ in Millions	Sep. 30, 2020USD ($)
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash included in other assets	$ 2,846

Debt - Narrative (Details)

Debt - Narrative (Details) - USD ($)	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Renewed borrowing capacity	$ 17,300,000,000
Secured Debt [Member]
Debt Instrument [Line Items]
Weighted average interest rate	2.22%
Debt issuance costs	$ 88,000,000	$ 75,000,000
Secured Debt [Member] | Securitization Notes Payable with Maturity Dates from 2021 to 2028 [Member]
Debt Instrument [Line Items]
Weighted average interest rate	1.33%
Debt instrument, face amount	$ 16,600,000,000
Unsecured Senior Notes [Member]
Debt Instrument [Line Items]
Weighted average interest rate	3.27%
Debt instrument, face amount	$ 47,400,000,000
Unsecured Senior Notes [Member] | Senior Notes with Maturity Dates from 2023 to 2030 [Member]
Debt Instrument [Line Items]
Weighted average interest rate	3.08%
Debt instrument, face amount	$ 8,400,000,000
Unsecured Debt [Member]
Debt Instrument [Line Items]
Debt issuance costs	$ 113,000,000	$ 109,000,000
Line of Credit [Member]
Debt Instrument [Line Items]
Weighted average interest rate	2.46%
Debt instrument term	4 years
Maximum [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Expiration period	6 years

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Short Term and Long Term Debt [Line Items]
Secured debt	$ 35,671	$ 39,959
Unsecured debt	53,151	48,979
Total secured and unsecured debt	88,822	88,938
Secured debt fair value	36,108	40,160
Unsecured debt fair value	54,226	50,239
Fair value of Secured and Unsecured debt	90,334	90,399
Level 2 [Member]
Short Term and Long Term Debt [Line Items]
Fair value of Secured and Unsecured debt	88,768	88,481
Level 3 [Member]
Short Term and Long Term Debt [Line Items]
Fair value of Secured and Unsecured debt	1,566	1,918
Revolving Credit Facility [Member]
Short Term and Long Term Debt [Line Items]
Secured debt	2,048	6,152
Unsecured debt	1,417	1,936
Secured debt fair value	2,050	6,160
Unsecured debt fair value	1,415	1,936
Securitization Notes Payable [Member]
Short Term and Long Term Debt [Line Items]
Secured debt	33,623	33,807
Secured debt fair value	34,058	34,000
Senior Notes [Member]
Short Term and Long Term Debt [Line Items]
Unsecured debt	47,935	43,679
Unsecured debt fair value	49,008	44,937
Other Unsecured Debt [Member]
Short Term and Long Term Debt [Line Items]
Unsecured debt	3,799	3,364
Unsecured debt fair value	$ 3,803	$ 3,366

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Restricted cash	$ 2,846
Finance receivables, net of fees	55,153	$ 53,473
Secured debt	35,671	39,959
Securitization and Credit Facility VIEs [Member]
Variable Interest Entity [Line Items]
Restricted cash	2,725	2,643
Finance receivables, net of fees	28,762	35,392
Secured debt	35,475	39,771
Transferred to secured funding arrangements	408	226
Secured debt outstanding	256	244
Assets Leased to Others [Member]
Variable Interest Entity [Line Items]
Lease related assets	39,358	42,055
Assets Leased to Others [Member] | Securitization and Credit Facility VIEs [Member]
Variable Interest Entity [Line Items]
Lease related assets	$ 16,594	$ 14,464

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Fair value of assets (liabilities) available for offset	$ 619	$ 302
Other Assets [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, Notional amount	128,264	108,673
Derivative asset, Fair value	1,694	636
Collateral available for netting against liability positions	195	89
Other Liabilities [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, Fair value	899	519
Cash held for netting against asset positions	779	210
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Other Assets [Member] | Interest Rate Swaps [Member] | Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, Notional amount	10,050	9,458
Derivative asset, Fair value	496	234
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Other Assets [Member] | Foreign Currency Swaps [Member] | Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, Notional amount	1,876	1,796
Derivative asset, Fair value	77	22
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Other Liabilities [Member] | Interest Rate Swaps [Member] | Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, Fair value	2	23
Designated as Hedging Instrument [Member] | Fair Value Hedging [Member] | Other Liabilities [Member] | Foreign Currency Swaps [Member] | Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, Fair value	39	71
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Assets [Member] | Interest Rate Swaps [Member] | Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, Notional amount	914	590
Derivative asset, Fair value	0	0
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Assets [Member] | Foreign Currency Swaps [Member] | Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, Notional amount	5,365	4,429
Derivative asset, Fair value	98	40
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Liabilities [Member] | Interest Rate Swaps [Member] | Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, Fair value	28	6
Designated as Hedging Instrument [Member] | Cash Flow Hedging [Member] | Other Liabilities [Member] | Foreign Currency Swaps [Member] | Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, Fair value	138	119
Not Designated as Hedging Instrument [Member] | Other Assets [Member] | Interest Rate Contracts [Member] | Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative asset, Notional amount	110,059	92,400
Derivative asset, Fair value	1,023	340
Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | Interest Rate Contracts [Member] | Level 2 [Member]
Derivatives, Fair Value [Line Items]
Derivative liability, Fair value	$ 692	$ 300

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Balance Sheet (Details) - Designated as Hedging Instrument [Member] - Fair Value Hedging [Member] - Unsecured Debt [Member] - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Derivatives, Fair Value [Line Items]
Carrying Amount of Hedged Items	$ 24,275	$ 20,397
Cumulative Amount of Fair Value Hedging Adjustments	(713)	(77)
Discontinued hedge cumulative amount of fair value hedging adjustments	$ (197)	$ 69

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging Activities - Income (Losses) Recognized in Income (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Derivatives, Fair Value [Line Items]
Interest expense	$ 709	$ 879	$ 2,332	$ 2,778
Operating expenses	394	384	1,097	1,131
AOCI Attributable to Parent [Member]
Derivatives, Fair Value [Line Items]
Gains (Losses) Recognized In Accumulated Other Comprehensive Loss	154	(140)	(53)	(233)
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income	(137)	128	(81)	188
Fair Value Hedging [Member] | Foreign Currency Translation Adjustment [Member] | Foreign Currency Swaps [Member]
Derivatives, Fair Value [Line Items]
Gains (Losses) Recognized In Accumulated Other Comprehensive Loss	(4)	(10)	(16)	(30)
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income	4	10	17	32
Cash Flow Hedging [Member] | Foreign Currency Translation Adjustment [Member] | Foreign Currency Swaps [Member]
Derivatives, Fair Value [Line Items]
Gains (Losses) Recognized In Accumulated Other Comprehensive Loss	158	(127)	(22)	(198)
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income	(144)	119	(103)	160
Cash Flow Hedging [Member] | Unrealized (Loss) Gain on Hedges [Member] | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Gains (Losses) Recognized In Accumulated Other Comprehensive Loss	0	(3)	(15)	(5)
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income	3	(1)	5	(4)
Interest Expense [Member]
Derivatives, Fair Value [Line Items]
Total	(24)	(27)	(138)	(160)
Operating Expense [Member]
Derivatives, Fair Value [Line Items]
Total	217	(133)	227	(145)
Designated as Hedging Instrument [Member] | Foreign Currency Translation Adjustment [Member]
Derivatives, Fair Value [Line Items]
Gain (loss) to be reclassified in next twelve months			(86)
Designated as Hedging Instrument [Member] | Interest Expense [Member] | Fair Value Hedging [Member] | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Hedged items	14	(159)	(555)	(682)
Interest rate swaps and Foreign currency swaps	(86)	80	289	546
Designated as Hedging Instrument [Member] | Interest Expense [Member] | Fair Value Hedging [Member] | Foreign Currency Swaps [Member]
Derivatives, Fair Value [Line Items]
Hedged items	0	0	0	0
Interest rate swaps and Foreign currency swaps	(5)	(15)	(26)	(46)
Designated as Hedging Instrument [Member] | Interest Expense [Member] | Cash Flow Hedging [Member] | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Interest rate swaps and Foreign currency swaps	(5)	1	(8)	5
Designated as Hedging Instrument [Member] | Interest Expense [Member] | Cash Flow Hedging [Member] | Foreign Currency Swaps [Member]
Derivatives, Fair Value [Line Items]
Interest rate swaps and Foreign currency swaps	(25)	(23)	(82)	(62)
Designated as Hedging Instrument [Member] | Operating Expense [Member] | Fair Value Hedging [Member] | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Hedged items	0	0	0	0
Interest rate swaps and Foreign currency swaps	0	0	0	0
Designated as Hedging Instrument [Member] | Operating Expense [Member] | Fair Value Hedging [Member] | Foreign Currency Swaps [Member]
Derivatives, Fair Value [Line Items]
Hedged items	(79)	78	(80)	85
Interest rate swaps and Foreign currency swaps	80	(77)	84	(81)
Designated as Hedging Instrument [Member] | Operating Expense [Member] | Cash Flow Hedging [Member] | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Interest rate swaps and Foreign currency swaps	0	0	0	0
Designated as Hedging Instrument [Member] | Operating Expense [Member] | Cash Flow Hedging [Member] | Foreign Currency Swaps [Member]
Derivatives, Fair Value [Line Items]
Interest rate swaps and Foreign currency swaps	216	(134)	223	(149)
Not Designated as Hedging Instrument [Member] | Interest Expense [Member]
Derivatives, Fair Value [Line Items]
Interest rate contracts	83	89	244	79
Not Designated as Hedging Instrument [Member] | Operating Expense [Member]
Derivatives, Fair Value [Line Items]
Interest rate contracts	$ 0	$ 0	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Estimate of possible loss	$ 26
Loss accrual	14
Indirect tax contingency	$ 10

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Class of Stock [Line Items]
Common stock dividends			$ 800,000,000
Dividends paid on preferred stock (Note 11)		$ 45,000,000
Preferred stock par value (in dollars per share)	$ 0.01		$ 0.01		$ 0.01
Proceeds from issuance of preferred stock			$ 492,000,000	$ 0
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Dividends paid on preferred stock (Note 11)			$ 58,000,000	58,000,000
Preferred stock shares issued	1,000,000		1,000,000		1,000,000
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Dividends paid on preferred stock (Note 11)			$ 32,000,000	$ 33,000,000
Preferred stock shares issued	500,000		500,000		500,000
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock shares issued	500,000		500,000		0
Preferred stock par value (in dollars per share)	$ 0.01		$ 0.01
Liquidation preference (in dollars per share)	$ 1,000		$ 1,000
Proceeds from issuance of preferred stock	$ 492,000,000
Preferred stock dividend rate	5.70%
Series C Preferred Stock [Member] | US Treasury Interest Rate [Member]
Class of Stock [Line Items]
Variable dividend payment rate	4.997

Shareholders' Equity - Summary

Shareholders' Equity - Summary of Common and Preferred Stock (Details) - shares	Sep. 30, 2020	Dec. 31, 2019
Class of Stock [Line Items]
Common stock shares authorized	10,000,000	10,000,000
Common stock shares issued	5,050,000	5,050,000
Common stock shares outstanding	5,050,000	5,050,000
Preferred stock shares authorized	250,000,000	250,000,000
Fixed-to-Floating Rate Cumulative Preferred Stock Series A [Member]
Class of Stock [Line Items]
Preferred stock shares issued	1,000,000	1,000,000
Preferred stock shares outstanding	1,000,000	1,000,000
Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock, Series B [Member]
Class of Stock [Line Items]
Preferred stock shares issued	500,000	500,000
Preferred stock shares outstanding	500,000	500,000
Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock, Series C [Member]
Class of Stock [Line Items]
Preferred stock shares issued	500,000	0
Preferred stock shares outstanding	500,000	0

Shareholders' Equity - Accumula

Shareholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	$ 11,053	$ 12,385	$ 12,726	$ 11,659
Balance at end of period	12,547	12,688	12,547	12,688
AOCI Attributable to Parent [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	(1,663)	(1,034)	(1,119)	(1,066)
Balance at end of period	(1,564)	(1,210)	(1,564)	(1,210)
Unrealized (Loss) Gain on Hedges [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	(200)	(24)	(49)	9
Other comprehensive (loss) income, net of tax	17	(12)	(134)	(45)
Balance at end of period	(183)	(36)	(183)	(36)
Defined Benefit Plans [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	1	1	1	1
Other comprehensive (loss) income, net of tax	0	0	0	0
Balance at end of period	1	1	1	1
Foreign Currency Translation Adjustment [Member]
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	(1,464)	(1,011)	(1,071)	(1,076)
Other comprehensive (loss) income, net of tax	82	(164)	(311)	(99)
Balance at end of period	$ (1,382)	$ (1,175)	$ (1,382)	$ (1,175)

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax (benefit) provision	$ 314	$ 195	$ 430	$ 416

Segment Reporting - Revenue (De

Segment Reporting - Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Segment Reporting Information [Line Items]
Total revenue	$ 3,421	$ 3,659	$ 10,405	$ 10,918
Operating expenses	394	384	1,097	1,131
Leased vehicle expenses	1,126	1,574	4,602	5,025
Provision for loan losses	31	150	824	504
Interest expense	709	879	2,332	2,778
Equity income	46	39	113	126
Income before income taxes	1,207	711	1,663	1,606
North America Segment [Member]
Segment Reporting Information [Line Items]
Total revenue	3,196	3,355	9,670	9,993
Operating expenses	312	291	879	848
Leased vehicle expenses	1,114	1,557	4,566	4,987
Provision for loan losses	(26)	113	609	394
Interest expense	643	759	2,091	2,413
Equity income	0	0	0	0
Income before income taxes	1,153	635	1,525	1,351
International Segment [Member]
Segment Reporting Information [Line Items]
Total revenue	225	304	735	925
Operating expenses	82	93	218	283
Leased vehicle expenses	12	17	36	38
Provision for loan losses	57	37	215	110
Interest expense	66	120	241	365
Equity income	46	39	113	126
Income before income taxes	$ 54	$ 76	$ 138	$ 255

Segment Reporting - Assets (Det

Segment Reporting - Assets (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Segment Reporting Information [Line Items]
Finance receivables, net	$ 55,153	$ 53,473
Total assets	109,211	109,217
North America Segment [Member]
Segment Reporting Information [Line Items]
Finance receivables, net	50,623	46,679
Total assets	101,762	99,453
International Segment [Member]
Segment Reporting Information [Line Items]
Finance receivables, net	4,530	6,794
Total assets	7,449	9,764
Assets Leased to Others [Member]
Segment Reporting Information [Line Items]
Leased vehicles, net (Note 4; Note 8 VIEs)	39,358	42,055
Assets Leased to Others [Member] | North America Segment [Member]
Segment Reporting Information [Line Items]
Leased vehicles, net (Note 4; Note 8 VIEs)	39,213	41,881
Assets Leased to Others [Member] | International Segment [Member]
Segment Reporting Information [Line Items]
Leased vehicles, net (Note 4; Note 8 VIEs)	$ 145	$ 174

Regulatory Capital and Other _2

Regulatory Capital and Other Regulatory Matters (Details) - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Capital Requirements on Foreign Financial Institutions [Line Items]
Assets	$ 109,211	$ 109,217
International Regulated Bank And Finance Companies [Member]
Capital Requirements on Foreign Financial Institutions [Line Items]
Assets	$ 5,400	$ 7,800