General Motors Financial (ACF) 10-Q 25 Oct 22 2022 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2022	Oct. 24, 2022
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
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	2022
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and cash equivalents	$ 4,079	$ 3,948
Finance receivables, net of allowance for loan losses $2,086 and $1,886 (Note 3; Note 7 VIEs)	70,845	62,979
Leased vehicles, net (Note 4; Note 7 VIEs)	33,778	37,929
Goodwill	1,168	1,169
Equity in net assets of nonconsolidated affiliates (Note 5)	1,705	1,717
Related party receivables (Note 2)	506	301
Other assets (Note 7 VIEs)	7,730	5,743
Total assets	119,811	113,786
Liabilities
Secured debt (Note 6; Note 7 VIEs)	40,733	39,338
Unsecured debt (Note 6)	53,090	53,223
Deferred income	2,299	2,551
Related party payables (Note 2)	213	313
Other liabilities	8,384	4,567
Total liabilities	104,720	99,992
Commitments and contingencies (Note 9)
Shareholders' equity (Note 10)
Common stock, $0.0001 par value per share	0	0
Preferred stock, $0.01 par value per share	0	0
Additional paid-in capital	8,723	8,692
Accumulated other comprehensive income (loss)	(1,402)	(1,273)
Retained earnings	7,770	6,375
Total shareholders' equity	15,091	13,794
Total liabilities and shareholders' equity	$ 119,811	$ 113,786

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Allowance for loan losses	$ 2,086	$ 1,886
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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Revenue
Finance charge income	$ 1,158	$ 1,035	$ 3,230	$ 3,087
Leased vehicle income	1,912	2,246	5,967	6,871
Other income	118	73	292	229
Total revenue	3,187	3,354	9,489	10,187
Costs and expenses
Operating expenses	436	381	1,202	1,170
Leased vehicle expenses	939	1,088	2,650	3,157
Provision for loan losses (Note 3)	180	141	500	174
Interest expense	764	704	1,984	1,987
Total costs and expenses	2,320	2,314	6,336	6,488
Equity income (Note 5)	44	53	148	157
Income before income taxes	911	1,093	3,301	3,856
Income tax provision (Note 11)	223	271	822	976
Net income (loss)	688	822	2,479	2,880
Less: cumulative dividends on preferred stock	30	30	89	89
Net income (loss) attributable to common shareholder	$ 659	$ 792	$ 2,390	$ 2,791

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 688	$ 822	$ 2,479	$ 2,880
Other comprehensive income (loss), net of tax (Note 10)
Unrealized gain (loss) on hedges, net of income tax (expense) benefit of $—, $(3),$(37),$(18)	(1)	8	114	50
Foreign currency translation adjustment	(175)	(105)	(244)	(44)
Other comprehensive income (loss), net of tax	(176)	(97)	(130)	6
Comprehensive income (loss)	$ 512	$ 725	$ 2,349	$ 2,886

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Change in value of cash flow hedges, tax (expense) benefit	$ 0	$ (3)	$ (37)	$ (18)

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Shareholders' Equity - USD ($) $ in Millions	Total	Common Stock	Preferred Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Retained Earnings
Balance at beginning of period at Dec. 31, 2020	$ 13,598	$ 0	$ 0	$ 8,642	$ (1,309)	$ 6,265
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	878					878
Other comprehensive income (loss)	(23)				(23)
Stock-based compensation	8			8
Dividends paid (Note 10)	(661)					(661)
Balance at end of period at Mar. 31, 2021	13,800	0	0	8,650	(1,332)	6,482
Balance at beginning of period at Dec. 31, 2020	13,598	0	0	8,642	(1,309)	6,265
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,880
Other comprehensive income (loss)	6
Balance at end of period at Sep. 30, 2021	14,600	0	0	8,678	(1,303)	7,225
Balance at beginning of period at Mar. 31, 2021	13,800	0	0	8,650	(1,332)	6,482
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,180					1,180
Other comprehensive income (loss)	126				126
Stock-based compensation	18			18
Dividends paid (Note 10)	(600)					(600)
Dividends declared on preferred stock (Note 10)	(59)					(59)
Balance at end of period at Jun. 30, 2021	14,465	0	0	8,668	(1,206)	7,003
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	822					822
Other comprehensive income (loss)	(97)				(97)
Stock-based compensation	10			10
Dividends paid (Note 10)	(600)					(600)
Balance at end of period at Sep. 30, 2021	14,600	0	0	8,678	(1,303)	7,225
Balance at beginning of period at Dec. 31, 2021	13,794	0	0	8,692	(1,273)	6,375
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	962					962
Other comprehensive income (loss)	238				238
Stock-based compensation	10			10
Balance at end of period at Mar. 31, 2022	15,004	0	0	8,701	(1,034)	7,337
Balance at beginning of period at Dec. 31, 2021	13,794	0	0	8,692	(1,273)	6,375
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,479
Other comprehensive income (loss)	(130)
Balance at end of period at Sep. 30, 2022	15,091	0	0	8,723	(1,402)	7,770
Balance at beginning of period at Mar. 31, 2022	15,004	0	0	8,701	(1,034)	7,337
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	829					829
Other comprehensive income (loss)	(192)				(192)
Stock-based compensation	11			11
Dividends paid (Note 10)	(750)					(750)
Dividends declared on preferred stock (Note 10)	(59)					(59)
Balance at end of period at Jun. 30, 2022	14,844	0	0	8,713	(1,226)	7,357
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	688					688
Other comprehensive income (loss)	(176)				(176)
Stock-based compensation	10			10
Dividends paid (Note 10)	(275)					(275)
Balance at end of period at Sep. 30, 2022	$ 15,091	$ 0	$ 0	$ 8,723	$ (1,402)	$ 7,770

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows from operating activities
Net income (loss)	$ 2,479	$ 2,880
Depreciation and amortization	3,801	4,934
Accretion and amortization of loan and leasing fees	(950)	(1,144)
Undistributed earnings of nonconsolidated affiliates, net	(122)	(157)
Provision for loan losses	500	174
Deferred income taxes	353	137
Stock-based compensation expense	32	37
Gain on termination of leased vehicles	(990)	(1,616)
Loss on extinguishment of debt	0	105
Other operating activities	(116)	120
Changes in assets and liabilities:
Other assets	(1,298)	207
Other liabilities	259	(256)
Related party payables	(118)	208
Net cash provided by (used in) operating activities	3,829	5,629
Cash flows from investing activities
Purchases of retail finance receivables, net	(26,557)	(25,471)
Principal collections and recoveries on retail finance receivables	20,604	18,788
Net collections (funding) of commercial finance receivables	(2,655)	4,658
Purchases of leased vehicles, net	(9,062)	(16,698)
Proceeds from termination of leased vehicles	11,052	15,513
Capital contribution to nonconsolidated affiliates	(26)	0
Other investing activities	(83)	(33)
Net cash provided by (used in) investing activities	(6,726)	(3,243)
Cash flows from financing activities
Net change in debt (original maturities less than three months)	1,189	3,205
Borrowings and issuances of secured debt	23,385	21,745
Payments on secured debt	(21,927)	(23,635)
Borrowings and issuances of unsecured debt	10,420	12,731
Payments on unsecured debt	(9,409)	(11,956)
Extinguishment of debt	0	(1,605)
Debt issuance costs	(106)	(133)
Dividends paid	(1,144)	(1,920)
Net cash provided by (used in) financing activities	2,408	(1,568)
Net increase (decrease) in cash, cash equivalents and restricted cash	(488)	818
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(11)	(43)
Cash, cash equivalents and restricted cash at beginning of period	7,183	8,126
Cash, cash equivalents and restricted cash at end of period	6,684	8,901
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	4,079
Restricted cash included in other assets	2,605
Total	$ 6,684	$ 8,901

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Basis of Presentation The 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 transactions and accounts 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 included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as filed with the Securities and Exchange Commission on February 2, 2022 (2021 Form 10-K). Except as otherwise specified, dollar amounts presented within tables are stated in millions. Certain columns and rows may not add due to rounding. The condensed consolidated financial statements at September 30, 2022, and for the three and nine months ended September 30, 2022 and 2021, 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, 2021 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 China. Accounting Standards Not Yet Adopted In March 2022, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2022-02, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" (ASU 2022-02), which eliminates the accounting guidance for troubled debt restructurings (TDRs) by creditors that have adopted ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." We adopted ASU 2016-13 on January 1, 2020. ASU 2022-02 enhances disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. In addition, ASU 2022-02 amends the guidance on vintage disclosures to require entities to disclose current-period gross write-offs by year of origination. For entities that have adopted ASU 2016-13, ASU 2022-02 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted if an entity has adopted ASU 2016-13.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2022
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 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 make to GM-franchised dealers. We received subvention payments from GM of $732 million and $828 million for the three months ended September 30, 2022 and 2021, and $1.7 billion and $2.9 billion for the nine months ended September 30, 2022 and 2021. Subvention due from GM is recorded as a related party receivables. Amounts due to GM for commercial finance receivables originated but not yet funded are recorded as a related party payable. Cruise is the GM global segment responsible for the development and commercialization of autonomous vehicle technology. We have a multi-year credit agreement with Cruise whereby we may provide advances to Cruise up to an aggregate of $5.0 billion, over time, through 2024, to fund the purchase of autonomous vehicles from GM. Amounts due from Cruise are included in finance receivables, net. 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. During the nine months ended September 30, 2022, we made payments of $508 million to GM for state and federal income taxes related to the years 2020 through 2022. Amounts owed to GM for income taxes are recorded as a related party payable. The following tables present related party transactions: Balance Sheet Data September 30, 2022 December 31, 2021 Commercial finance receivables, net due from dealers consolidated by GM $ 177 $ 163 Cruise receivables $ 68 $ — Subvention receivable $ 480 $ 282 Commercial loan funding payable $ 45 $ 26 Taxes payable $ 166 $ 282 Three Months Ended September 30, Nine Months Ended September 30, Income Statement Data 2022 2021 2022 2021 Interest subvention earned on retail finance receivables (a) $ 242 $ 205 $ 674 $ 588 Interest subvention earned on commercial finance receivables (a) $ 17 $ 6 $ 41 $ 22 Leased vehicle subvention earned (b) $ 456 $ 670 $ 1,503 $ 2,095 _________________ (a) Included in finance charge income. (b) 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 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.

Finance Receivables

Finance Receivables	9 Months Ended
	Sep. 30, 2022
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Finance Receivables	Finance Receivables September 30, 2022 December 31, 2021 Retail finance receivables Retail finance receivables, net of fees (a) $ 63,461 $ 58,093 Less: allowance for loan losses (2,044) (1,839) Total retail finance receivables, net 61,416 56,254 Commercial finance receivables Commercial finance receivables, net of fees (b) 9,471 6,772 Less: allowance for loan losses (42) (47) Total commercial finance receivables, net 9,429 6,725 Total finance receivables, net $ 70,845 $ 62,979 Fair value utilizing Level 2 inputs $ 9,429 $ 6,725 Fair value utilizing Level 3 inputs $ 59,890 $ 57,613 ________________ (a) Net of unearned income, unamortized premiums and discounts, and deferred fees and costs. (b) Net of dealer cash management balances of $1.5 billion and $1.0 billion at September 30, 2022 and December 31, 2021. 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, 2022 2021 2022 2021 Allowance for retail loan losses beginning balance $ 1,987 $ 1,805 $ 1,839 $ 1,915 Provision for loan losses 179 146 506 200 Charge-offs (289) (207) (811) (664) Recoveries 171 133 510 426 Foreign currency translation (4) (14) — (14) Allowance for retail loan losses ending balance $ 2,044 $ 1,863 $ 2,044 $ 1,863 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. The following tables are consolidated summaries of the amortized cost of the retail finance receivables by FICO score or its equivalent, determined at origination, for each vintage of the portfolio at September 30, 2022 and December 31, 2021: Year of Origination September 30, 2022 2022 2021 2020 2019 2018 Prior Total Percent Prime - FICO Score 680 and greater $ 17,901 $ 14,587 $ 8,858 $ 2,614 $ 1,272 $ 311 $ 45,543 71.8 % Near-prime - FICO Score 620 to 679 2,521 2,843 1,653 792 375 147 8,331 13.1 Sub-prime - FICO Score less than 620 2,615 3,019 1,785 1,195 591 382 9,587 15.1 Retail finance receivables, net of fees $ 23,037 $ 20,449 $ 12,296 $ 4,601 $ 2,238 $ 840 $ 63,461 100.0 % Year of Origination December 31, 2021 2021 2020 2019 2018 2017 Prior Total Percent Prime - FICO Score 680 and greater $ 19,729 $ 12,408 $ 4,078 $ 2,298 $ 763 $ 143 $ 39,419 67.9 % Near-prime - FICO Score 620 to 679 3,856 2,388 1,229 648 274 84 8,479 14.6 Sub-prime - FICO Score less than 620 4,053 2,528 1,777 972 570 295 10,195 17.5 Retail finance receivables, net of fees $ 27,638 $ 17,324 $ 7,084 $ 3,918 $ 1,607 $ 522 $ 58,093 100.0 % 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 tables are consolidated summaries of the delinquency status of the outstanding amortized cost of retail finance receivables for each vintage of the portfolio at September 30, 2022 and December 31, 2021, as well as summary totals for September 30, 2021: Year of Origination September 30, 2022 September 30, 2021 2022 2021 2020 2019 2018 Prior Total Percent Total Percent 0 - 30 days $ 22,792 $ 19,917 $ 11,944 $ 4,359 $ 2,096 $ 729 $ 61,836 97.4 % $ 56,086 97.7 % 31 - 60 days 183 381 256 179 106 81 1,185 1.9 989 1.7 Greater than 60 days 54 133 87 58 33 29 394 0.6 315 0.5 Finance receivables more than 30 days delinquent 236 514 343 237 139 109 1,579 2.5 1,304 2.2 In repossession 9 18 9 5 3 2 46 0.1 34 0.1 Finance receivables more than 30 days delinquent or in repossession 245 532 352 242 142 111 1,625 2.6 1,338 2.3 Retail finance receivables, net of fees $ 23,037 $ 20,449 $ 12,296 $ 4,601 $ 2,238 $ 840 $ 63,461 100.0 % $ 57,424 100.0 % Year of Origination December 31, 2021 2021 2020 2019 2018 2017 Prior Total Percent 0 - 30 days $ 27,270 $ 16,945 $ 6,772 $ 3,721 $ 1,478 $ 440 $ 56,626 97.5 % 31 - 60 days 273 276 230 147 97 60 1,083 1.8 Greater than 60 days 83 93 76 46 30 21 349 0.6 Finance receivables more than 30 days delinquent 356 369 306 193 127 81 1,432 2.4 In repossession 12 10 6 4 2 1 35 0.1 Finance receivables more than 30 days delinquent or in repossession 368 379 312 197 129 82 1,467 2.5 Retail finance receivables, net of fees $ 27,638 $ 17,324 $ 7,084 $ 3,918 $ 1,607 $ 522 $ 58,093 100.0 % The accrual of finance charge income had been suspended on retail finance receivables with contractual amounts due of $618 million and $602 million at September 30, 2022 and December 31, 2021. Accrual of finance charge income on retail finance receivables is generally suspended on accounts that are more than 60 days delinquent, accounts in bankruptcy and accounts in repossession. Impaired Retail Finance Receivables - TDRs The outstanding amortized cost of retail finance receivables that are considered TDRs were $2.0 billion at September 30, 2022 and $1.9 billion at December 31, 2021, including nonaccrual loans of $217 million at September 30, 2022 and $219 million at December 31, 2021. For definition and additional information on TDRs, see Note 1 in our 2021 Form 10-K. Additional TDR activity is presented below: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Number of loans classified as TDRs during the period 16,745 12,807 41,871 33,227 Outstanding amortized cost of loans classified as TDRs during the period $ 354 $ 250 $ 870 $ 667 The unpaid principal balances, net of recoveries, of loans charged off during the reporting period and were within 12 months of being modified as a TDR were insignificant for the three and nine months ended September 30, 2022 and 2021. 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. Our commercial risk model and risk rating categories are 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 tables summarize the credit risk profile by dealer risk rating of commercial finance receivables at September 30, 2022 and December 31, 2021: Year of Origination September 30, 2022 Dealer Risk Rating Revolving 2022 2021 2020 2019 2018 Prior Total Percent I $ 7,790 $ 470 $ 373 $ 378 $ 104 $ 47 $ 26 $ 9,189 97.0 % II 199 15 4 — 7 — — 226 2.4 III 50 — — — 5 — — 55 0.6 IV — — — — — — — — — Balance at end of period $ 8,039 $ 485 $ 378 $ 378 $ 116 $ 48 $ 27 $ 9,471 100.0 % Year of Origination December 31, 2021 Dealer Risk Rating Revolving 2021 2020 2019 2018 2017 Prior Total Percent I $ 5,296 $ 433 $ 426 $ 131 $ 57 $ 50 $ 10 $ 6,403 94.6 % II 213 5 16 12 1 10 — 257 3.8 III 81 8 15 2 — 2 4 112 1.6 IV — — — — — — — — — Balance at end of period $ 5,590 $ 446 $ 457 $ 145 $ 58 $ 62 $ 14 $ 6,772 100.0 % Floorplan advances comprise 94% of the total revolving balances at September 30, 2022 and December 31, 2021. Dealer term loans are presented by year of origination.

Leased Vehicles

Leased Vehicles	9 Months Ended
	Sep. 30, 2022
Lessor Disclosure [Abstract]
Leased Vehicles	Leased Vehicles September 30, 2022 December 31, 2021 Leased vehicles $ 47,637 $ 54,821 Manufacturer subvention (5,555) (7,398) Net capitalized cost 42,082 47,423 Less: accumulated depreciation (8,305) (9,494) Leased vehicles, net $ 33,778 $ 37,929 Depreciation expense related to leased vehicles, net was $1.2 billion and $1.6 billion for the three months ended September 30, 2022 and 2021 and $3.6 billion and $4.8 billion for the nine months ended September 30, 2022 and 2021. The following table summarizes minimum rental payments due to us as lessor under operating leases at September 30, 2022: Years Ending December 31, 2022 2023 2024 2025 2026 Thereafter Total Lease payments under operating leases $ 1,396 $ 4,515 $ 2,373 $ 696 $ 56 $ 1 $ 9,037

Equity in Net Assets of Non-con

Equity in Net Assets of Non-consolidated Affiliates	9 Months Ended
	Sep. 30, 2022
Noncontrolling Interest [Abstract]
Equity in Net Assets of Non-consolidated Affiliates	Equity in Net Assets of Nonconsolidated 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, 2021. 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 2022 2021 2022 2021 Finance charge income $ 391 $ 406 $ 1,266 $ 1,254 Income before income taxes $ 168 $ 205 $ 564 $ 599 Net income $ 126 $ 154 $ 424 $ 450 In June 2022, we received the remaining dividend payment of $26 million from SAIC-GMAC Automotive Finance Company Limited declared in 2021, and reinvested it in SAIC-GMF Leasing Co. Ltd. At September 30, 2022 and December 31, 2021, we had undistributed earnings of $889 million and $740 million related to our nonconsolidated affiliates.

Debt

Debt	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Debt	Debt September 30, 2022 December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Secured debt Revolving credit facilities $ 3,805 $ 3,804 $ 3,497 $ 3,495 Securitization notes payable 36,929 36,252 35,841 35,906 Total secured debt 40,733 40,056 39,338 39,401 Unsecured debt Senior notes 44,259 41,251 45,386 46,539 Credit facilities 1,362 1,335 1,229 1,211 Other unsecured debt 7,469 7,470 6,608 6,607 Total unsecured debt 53,090 50,055 53,223 54,357 Total secured and unsecured debt $ 93,823 $ 90,111 $ 92,561 $ 93,758 Fair value utilizing Level 2 inputs $ 88,350 $ 92,250 Fair value utilizing Level 3 inputs $ 1,761 $ 1,508 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 7 for further information. During the nine months ended September 30, 2022, we renewed credit facilities with a total borrowing capacity of $18.3 billion, and we issued $18.0 billion in aggregate principal amount of securitization notes payable with an initial weighted average interest rate of 2.85% and maturity dates ranging from 2023 to 2030. Unsecured Debt During the nine months ended September 30, 2022, we issued $7.7 billion in aggregate principal amount of senior notes with an initial weighted average interest rate of 3.39% and maturity dates ranging from 2024 to 2032. General Motors Financial Company, Inc. is the sole guarantor of its subsidiaries' unsecured debt obligations for which a guarantee is provided. 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, 2022, we were in compliance with these debt covenants.

Variable Interest Entities and

Variable Interest Entities and Other Transfers of Finance Receivables	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities and Other Transfers of Finance Receivables	Variable Interest Entities and Other Transfers of Finance Receivables Securitizations and Credit Facilities The following table summarizes the assets and liabilities related to our consolidated VIEs: September 30, 2022 December 31, 2021 Restricted cash (a) $ 2,486 $ 2,740 Finance receivables, net of fees $ 36,003 $ 31,940 Lease related assets $ 17,143 $ 16,143 Secured debt $ 40,714 $ 39,277 _______________ (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, and do not currently intend, to provide any additional financial support to these VIEs. While these subsidiaries are included in our condensed consolidated financial statements, these subsidiaries are separate legal entities and the finance receivables, lease-related assets and cash held by these subsidiaries are legally owned by them and are not available to our creditors or creditors of our other subsidiaries. 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 GAAP; therefore, the finance receivables and the related debt are included in our condensed 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, 2022 and December 31, 2021, $167 million and $500 million in finance receivables had been transferred in secured funding arrangements to third-party banks, relating to $84 million and $125 million in secured debt outstanding.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	9 Months Ended
	Sep. 30, 2022
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, 2022 December 31, 2021 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Derivatives designated as hedges Fair value hedges Interest rate swaps $ 20,950 $ — $ 864 $ 15,058 $ 74 $ 88 Foreign currency swaps — — — 682 — 59 Cash flow hedges Interest rate swaps 1,117 26 3 611 12 4 Foreign currency swaps 6,329 4 1,036 7,419 85 201 Derivatives not designated as hedges Interest rate contracts 106,973 2,250 1,965 110,053 846 339 Foreign currency contracts — — — 148 — — Total $ 135,369 $ 2,280 $ 3,867 $ 133,971 $ 1,017 $ 691 The gross amounts of the fair value of our derivative instruments that are classified as assets or liabilities are included in other assets or 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. 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, 2022 and December 31, 2021, the fair value of derivative instruments that are classified as assets or liabilities available for offset was $1.4 billion and $505 million. At September 30, 2022 and December 31, 2021, we held $471 million and $376 million of collateral from counterparties that was available for netting against our asset positions. At September 30, 2022 and December 31, 2021, we had $1.4 billion and $45 million of collateral posted to counterparties that was 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, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Unsecured debt $ 28,299 $ 24,964 $ 801 $ (226) _________________ (a) Includes $55 million and $246 million of unamortized gains remaining on hedged items for which hedge accounting has been discontinued at September 30, 2022 and December 31, 2021. The table below presents the effect of our derivative financial instruments in the condensed consolidated statements of income: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 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 $ 346 $ — $ 69 $ — $ 1,023 $ — $ 314 $ — Interest rate swaps (341) — (56) — (963) — (273) — Hedged items - foreign currency swaps (c) — — — 16 — 23 — 48 Foreign currency swaps — — (2) (16) (2) (24) (11) (44) Cash flow hedges Interest rate swaps 4 — (2) — 9 — (12) — Hedged items - foreign currency swaps (c) — 470 — 166 — 1,129 — 318 Foreign currency swaps (42) (470) (33) (166) (123) (1,129) (93) (318) Derivatives not designated as hedges Interest rate contracts 31 — 31 — 59 — 70 — Total income (loss) recognized $ (2) $ — $ 7 $ — $ 4 $ — $ (5) $ 4 _________________ (a) Total interest expense was $764 million and $704 million for the three months ended September 30, 2022 and 2021, and $2.0 billion for the nine months ended September 30, 2022 and 2021. (b) Total operating expenses were $436 million and $381 million for the three months ended September 30, 2022 and 2021, and $1.2 billion for the nine months ended September 30, 2022 and 2021. (c) Transaction activity recorded in operating expenses related to foreign currency-denominated loans. 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, 2022 2021 2022 2021 Fair value hedges Foreign currency swaps $ — $ (1) $ (2) $ (5) Cash flow hedges Interest rate swaps (1) 4 9 10 Foreign currency swaps (383) (147) (832) (278) Total $ (384) $ (144) $ (825) $ (273) (Gains) Losses Reclassified From Accumulated Other Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Fair value hedges Foreign currency swaps $ — $ 1 $ 2 $ 5 Cash flow hedges Interest rate swaps (3) 2 (6) 9 Foreign currency swaps 386 149 944 309 Total $ 383 $ 152 $ 940 $ 323 All amounts reclassified from accumulated other comprehensive income (loss) were recorded to interest expense. During the next 12 months, we estimate an insignificant amount of 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, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies 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. 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, 2022, we estimated our reasonably possible legal exposure for unfavorable outcomes is approximately $169 million, and we have accrued $145 million. 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 $64 million at September 30, 2022.

Shareholders' Equity

Shareholders' Equity	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Stockholders' Equity	Shareholders' Equity September 30, 2022 December 31, 2021 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, 2022 and 2021, our Board of Directors declared and paid dividends of $1.0 billion and $1.8 billion on our common stock to General Motors Holdings LLC. September 30, 2022 December 31, 2021 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, 1,000,000 1,000,000 Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock, 500,000 500,000 Fixed-Rate Reset Cumulative Perpetual Preferred Stock, 500,000 500,000 During the nine months ended September 30, 2022, we paid dividends of $58 million to holders of record of our Series A Preferred Stock, $32 million to holders of record of our Series B Preferred Stock, and $29 million to holders of record of our Series C Preferred Stock. During the nine months ended September 30, 2021, we paid dividends of $58 million to holders of record of our Series A Preferred Stock, $32 million to holders of record of our Series B Preferred Stock, and $30 million to holders of record of our Series C Preferred Stock. The following table summarizes the significant components of accumulated other comprehensive income (loss): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Unrealized gain (loss) on hedges Beginning balance $ 39 $ (115) $ (77) $ (157) Change in value of hedges, net of tax (1) 8 114 50 Ending balance 38 (107) 38 (107) Defined benefit plans Beginning balance — 1 1 1 Unrealized gain (loss) on subsidiary pension, net of tax — — — — Ending balance — 1 — 1 Foreign currency translation adjustment Beginning balance (1,265) (1,092) (1,197) (1,153) Translation gain (loss), net of tax (175) (105) (244) (44) Ending balance (1,441) (1,197) (1,441) (1,197) Total accumulated other comprehensive income (loss) $ (1,402) $ (1,303) $ (1,402) $ (1,303)

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes We are included in GM’s consolidated U.S. federal income tax return and 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 our financial statements as if we filed our own tax returns in each jurisdiction. Refer to Note 2 for further information on related party taxes payable.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2022
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. The following tables summarize key operating data for our operating segments: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 North International Total North International Total Total revenue $ 2,939 $ 248 $ 3,187 $ 3,128 $ 226 $ 3,354 Operating expenses 352 84 436 299 82 381 Leased vehicle expenses 926 14 939 1,076 12 1,088 Provision for loan losses 148 32 180 126 15 141 Interest expense 671 93 764 645 59 704 Equity income — 44 44 — 53 53 Income before income taxes $ 842 $ 68 $ 911 $ 982 $ 111 $ 1,093 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 North International Total North International Total Total revenue $ 8,773 $ 716 $ 9,489 $ 9,487 $ 700 $ 10,187 Operating expenses 970 232 1,202 940 230 1,170 Leased vehicle expenses 2,610 40 2,650 3,120 37 3,157 Provision for loan losses 416 84 500 118 56 174 Interest expense 1,738 246 1,984 1,812 175 1,987 Equity income — 148 148 — 157 157 Income before income taxes $ 3,039 $ 262 $ 3,301 $ 3,497 $ 359 $ 3,856 September 30, 2022 December 31, 2021 North International Total North International Total Finance receivables, net $ 66,420 $ 4,425 $ 70,845 $ 58,883 $ 4,096 $ 62,979 Leased vehicles, net $ 33,558 $ 219 $ 33,778 $ 37,741 $ 188 $ 37,929 Total assets $ 112,375 $ 7,436 $ 119,811 $ 106,572 $ 7,214 $ 113,786

Regulatory Capital and Other Re

Regulatory Capital and Other Regulatory Matters	9 Months Ended
	Sep. 30, 2022
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 $5.3 billion and $5.1 billion at September 30, 2022 and December 31, 2021.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The 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 transactions and accounts 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 included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as filed with the Securities and Exchange Commission on February 2, 2022 (2021 Form 10-K). Except as otherwise specified, dollar amounts presented within tables are stated in millions. Certain columns and rows may not add due to rounding.
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 China.
Accounting Standards Not Yet Adopted	Accounting Standards Not Yet Adopted In March 2022, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2022-02, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" (ASU 2022-02), which eliminates the accounting guidance for troubled debt restructurings (TDRs) by creditors that have adopted ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." We adopted ASU 2016-13 on January 1, 2020. ASU 2022-02 enhances disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. In addition, ASU 2022-02 amends the guidance on vintage disclosures to require entities to disclose current-period gross write-offs by year of origination. For entities that have adopted ASU 2016-13, ASU 2022-02 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted if an entity has adopted ASU 2016-13.

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2022
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following tables present related party transactions: Balance Sheet Data September 30, 2022 December 31, 2021 Commercial finance receivables, net due from dealers consolidated by GM $ 177 $ 163 Cruise receivables $ 68 $ — Subvention receivable $ 480 $ 282 Commercial loan funding payable $ 45 $ 26 Taxes payable $ 166 $ 282 Three Months Ended September 30, Nine Months Ended September 30, Income Statement Data 2022 2021 2022 2021 Interest subvention earned on retail finance receivables (a) $ 242 $ 205 $ 674 $ 588 Interest subvention earned on commercial finance receivables (a) $ 17 $ 6 $ 41 $ 22 Leased vehicle subvention earned (b) $ 456 $ 670 $ 1,503 $ 2,095 _________________ (a) Included in finance charge income. (b) Included as a reduction to leased vehicle expenses.

Finance Receivables (Tables)

Finance Receivables (Tables)	9 Months Ended
	Sep. 30, 2022
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Finance Receivables, Net	September 30, 2022 December 31, 2021 Retail finance receivables Retail finance receivables, net of fees (a) $ 63,461 $ 58,093 Less: allowance for loan losses (2,044) (1,839) Total retail finance receivables, net 61,416 56,254 Commercial finance receivables Commercial finance receivables, net of fees (b) 9,471 6,772 Less: allowance for loan losses (42) (47) Total commercial finance receivables, net 9,429 6,725 Total finance receivables, net $ 70,845 $ 62,979 Fair value utilizing Level 2 inputs $ 9,429 $ 6,725 Fair value utilizing Level 3 inputs $ 59,890 $ 57,613 ________________ (a) Net of unearned income, unamortized premiums and discounts, and deferred fees and costs. (b) Net of dealer cash management balances of $1.5 billion and $1.0 billion at September 30, 2022 and December 31, 2021.
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, 2022 2021 2022 2021 Allowance for retail loan losses beginning balance $ 1,987 $ 1,805 $ 1,839 $ 1,915 Provision for loan losses 179 146 506 200 Charge-offs (289) (207) (811) (664) Recoveries 171 133 510 426 Foreign currency translation (4) (14) — (14) Allowance for retail loan losses ending balance $ 2,044 $ 1,863 $ 2,044 $ 1,863
Financing Receivable Credit Quality Indicators	The following tables are consolidated summaries of the amortized cost of the retail finance receivables by FICO score or its equivalent, determined at origination, for each vintage of the portfolio at September 30, 2022 and December 31, 2021: Year of Origination September 30, 2022 2022 2021 2020 2019 2018 Prior Total Percent Prime - FICO Score 680 and greater $ 17,901 $ 14,587 $ 8,858 $ 2,614 $ 1,272 $ 311 $ 45,543 71.8 % Near-prime - FICO Score 620 to 679 2,521 2,843 1,653 792 375 147 8,331 13.1 Sub-prime - FICO Score less than 620 2,615 3,019 1,785 1,195 591 382 9,587 15.1 Retail finance receivables, net of fees $ 23,037 $ 20,449 $ 12,296 $ 4,601 $ 2,238 $ 840 $ 63,461 100.0 % Year of Origination December 31, 2021 2021 2020 2019 2018 2017 Prior Total Percent Prime - FICO Score 680 and greater $ 19,729 $ 12,408 $ 4,078 $ 2,298 $ 763 $ 143 $ 39,419 67.9 % Near-prime - FICO Score 620 to 679 3,856 2,388 1,229 648 274 84 8,479 14.6 Sub-prime - FICO Score less than 620 4,053 2,528 1,777 972 570 295 10,195 17.5 Retail finance receivables, net of fees $ 27,638 $ 17,324 $ 7,084 $ 3,918 $ 1,607 $ 522 $ 58,093 100.0 % Our commercial risk model and risk rating categories are 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 September 30, 2022 Dealer Risk Rating Revolving 2022 2021 2020 2019 2018 Prior Total Percent I $ 7,790 $ 470 $ 373 $ 378 $ 104 $ 47 $ 26 $ 9,189 97.0 % II 199 15 4 — 7 — — 226 2.4 III 50 — — — 5 — — 55 0.6 IV — — — — — — — — — Balance at end of period $ 8,039 $ 485 $ 378 $ 378 $ 116 $ 48 $ 27 $ 9,471 100.0 % Year of Origination December 31, 2021 Dealer Risk Rating Revolving 2021 2020 2019 2018 2017 Prior Total Percent I $ 5,296 $ 433 $ 426 $ 131 $ 57 $ 50 $ 10 $ 6,403 94.6 % II 213 5 16 12 1 10 — 257 3.8 III 81 8 15 2 — 2 4 112 1.6 IV — — — — — — — — — Balance at end of period $ 5,590 $ 446 $ 457 $ 145 $ 58 $ 62 $ 14 $ 6,772 100.0 % Floorplan advances comprise 94% of the total revolving balances at September 30, 2022 and December 31, 2021. Dealer term loans are presented by year of origination.
Past Due Financing Receivables	The following tables are consolidated summaries of the delinquency status of the outstanding amortized cost of retail finance receivables for each vintage of the portfolio at September 30, 2022 and December 31, 2021, as well as summary totals for September 30, 2021: Year of Origination September 30, 2022 September 30, 2021 2022 2021 2020 2019 2018 Prior Total Percent Total Percent 0 - 30 days $ 22,792 $ 19,917 $ 11,944 $ 4,359 $ 2,096 $ 729 $ 61,836 97.4 % $ 56,086 97.7 % 31 - 60 days 183 381 256 179 106 81 1,185 1.9 989 1.7 Greater than 60 days 54 133 87 58 33 29 394 0.6 315 0.5 Finance receivables more than 30 days delinquent 236 514 343 237 139 109 1,579 2.5 1,304 2.2 In repossession 9 18 9 5 3 2 46 0.1 34 0.1 Finance receivables more than 30 days delinquent or in repossession 245 532 352 242 142 111 1,625 2.6 1,338 2.3 Retail finance receivables, net of fees $ 23,037 $ 20,449 $ 12,296 $ 4,601 $ 2,238 $ 840 $ 63,461 100.0 % $ 57,424 100.0 % Year of Origination December 31, 2021 2021 2020 2019 2018 2017 Prior Total Percent 0 - 30 days $ 27,270 $ 16,945 $ 6,772 $ 3,721 $ 1,478 $ 440 $ 56,626 97.5 % 31 - 60 days 273 276 230 147 97 60 1,083 1.8 Greater than 60 days 83 93 76 46 30 21 349 0.6 Finance receivables more than 30 days delinquent 356 369 306 193 127 81 1,432 2.4 In repossession 12 10 6 4 2 1 35 0.1 Finance receivables more than 30 days delinquent or in repossession 368 379 312 197 129 82 1,467 2.5 Retail finance receivables, net of fees $ 27,638 $ 17,324 $ 7,084 $ 3,918 $ 1,607 $ 522 $ 58,093 100.0 %
Troubled Debt Restructurings on Financing Receivables	Additional TDR activity is presented below: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Number of loans classified as TDRs during the period 16,745 12,807 41,871 33,227 Outstanding amortized cost of loans classified as TDRs during the period $ 354 $ 250 $ 870 $ 667

Leased Vehicles (Tables)

Leased Vehicles (Tables)	9 Months Ended
	Sep. 30, 2022
Lessor Disclosure [Abstract]
Summary of Leased Vehicles	September 30, 2022 December 31, 2021 Leased vehicles $ 47,637 $ 54,821 Manufacturer subvention (5,555) (7,398) Net capitalized cost 42,082 47,423 Less: accumulated depreciation (8,305) (9,494) Leased vehicles, net $ 33,778 $ 37,929
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, 2022: Years Ending December 31, 2022 2023 2024 2025 2026 Thereafter Total Lease payments under operating leases $ 1,396 $ 4,515 $ 2,373 $ 696 $ 56 $ 1 $ 9,037

Equity in Net Assets of Non-c_2

Equity in Net Assets of Non-consolidated Affiliates (Tables)	9 Months Ended
	Sep. 30, 2022
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 2022 2021 2022 2021 Finance charge income $ 391 $ 406 $ 1,266 $ 1,254 Income before income taxes $ 168 $ 205 $ 564 $ 599 Net income $ 126 $ 154 $ 424 $ 450

Debt (Tables)

Debt (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	September 30, 2022 December 31, 2021 Carrying Amount Fair Value Carrying Amount Fair Value Secured debt Revolving credit facilities $ 3,805 $ 3,804 $ 3,497 $ 3,495 Securitization notes payable 36,929 36,252 35,841 35,906 Total secured debt 40,733 40,056 39,338 39,401 Unsecured debt Senior notes 44,259 41,251 45,386 46,539 Credit facilities 1,362 1,335 1,229 1,211 Other unsecured debt 7,469 7,470 6,608 6,607 Total unsecured debt 53,090 50,055 53,223 54,357 Total secured and unsecured debt $ 93,823 $ 90,111 $ 92,561 $ 93,758 Fair value utilizing Level 2 inputs $ 88,350 $ 92,250 Fair value utilizing Level 3 inputs $ 1,761 $ 1,508

Variable Interest Entities an_2

Variable Interest Entities and Other Transfers of Finance Receivables (Tables)	9 Months Ended
	Sep. 30, 2022
Securitization and Credit Facility VIEs
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, 2022 December 31, 2021 Restricted cash (a) $ 2,486 $ 2,740 Finance receivables, net of fees $ 36,003 $ 31,940 Lease related assets $ 17,143 $ 16,143 Secured debt $ 40,714 $ 39,277 _______________ (a) Included in other assets.

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	9 Months Ended
	Sep. 30, 2022
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, 2022 December 31, 2021 Notional Fair Value of Assets Fair Value of Liabilities Notional Fair Value of Assets Fair Value of Liabilities Derivatives designated as hedges Fair value hedges Interest rate swaps $ 20,950 $ — $ 864 $ 15,058 $ 74 $ 88 Foreign currency swaps — — — 682 — 59 Cash flow hedges Interest rate swaps 1,117 26 3 611 12 4 Foreign currency swaps 6,329 4 1,036 7,419 85 201 Derivatives not designated as hedges Interest rate contracts 106,973 2,250 1,965 110,053 846 339 Foreign currency contracts — — — 148 — — Total $ 135,369 $ 2,280 $ 3,867 $ 133,971 $ 1,017 $ 691
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, 2022 December 31, 2021 September 30, 2022 December 31, 2021 Unsecured debt $ 28,299 $ 24,964 $ 801 $ (226) _________________ (a) Includes $55 million and $246 million of unamortized gains remaining on hedged items for which hedge accounting has been discontinued at September 30, 2022 and December 31, 2021.
Effect of Derivative Instruments on the Condensed Consolidated Statements of Income	The table below presents the effect of our derivative financial instruments in the condensed consolidated statements of income: Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 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 $ 346 $ — $ 69 $ — $ 1,023 $ — $ 314 $ — Interest rate swaps (341) — (56) — (963) — (273) — Hedged items - foreign currency swaps (c) — — — 16 — 23 — 48 Foreign currency swaps — — (2) (16) (2) (24) (11) (44) Cash flow hedges Interest rate swaps 4 — (2) — 9 — (12) — Hedged items - foreign currency swaps (c) — 470 — 166 — 1,129 — 318 Foreign currency swaps (42) (470) (33) (166) (123) (1,129) (93) (318) Derivatives not designated as hedges Interest rate contracts 31 — 31 — 59 — 70 — Total income (loss) recognized $ (2) $ — $ 7 $ — $ 4 $ — $ (5) $ 4 _________________ (a) Total interest expense was $764 million and $704 million for the three months ended September 30, 2022 and 2021, and $2.0 billion for the nine months ended September 30, 2022 and 2021. (b) Total operating expenses were $436 million and $381 million for the three months ended September 30, 2022 and 2021, and $1.2 billion for the nine months ended September 30, 2022 and 2021. (c) Transaction activity recorded in operating expenses related to foreign currency-denominated loans. 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, 2022 2021 2022 2021 Fair value hedges Foreign currency swaps $ — $ (1) $ (2) $ (5) Cash flow hedges Interest rate swaps (1) 4 9 10 Foreign currency swaps (383) (147) (832) (278) Total $ (384) $ (144) $ (825) $ (273) (Gains) Losses Reclassified From Accumulated Other Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Fair value hedges Foreign currency swaps $ — $ 1 $ 2 $ 5 Cash flow hedges Interest rate swaps (3) 2 (6) 9 Foreign currency swaps 386 149 944 309 Total $ 383 $ 152 $ 940 $ 323

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2022
Equity [Abstract]
Summary of Common and Preferred Stock	September 30, 2022 December 31, 2021 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, 2022 and 2021, our Board of Directors declared and paid dividends of $1.0 billion and $1.8 billion on our common stock to General Motors Holdings LLC. September 30, 2022 December 31, 2021 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, 1,000,000 1,000,000 Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock, 500,000 500,000 Fixed-Rate Reset Cumulative Perpetual Preferred Stock, 500,000 500,000
Schedule of Accumulated Other Comprehensive Loss	The following table summarizes the significant components of accumulated other comprehensive income (loss): Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Unrealized gain (loss) on hedges Beginning balance $ 39 $ (115) $ (77) $ (157) Change in value of hedges, net of tax (1) 8 114 50 Ending balance 38 (107) 38 (107) Defined benefit plans Beginning balance — 1 1 1 Unrealized gain (loss) on subsidiary pension, net of tax — — — — Ending balance — 1 — 1 Foreign currency translation adjustment Beginning balance (1,265) (1,092) (1,197) (1,153) Translation gain (loss), net of tax (175) (105) (244) (44) Ending balance (1,441) (1,197) (1,441) (1,197) Total accumulated other comprehensive income (loss) $ (1,402) $ (1,303) $ (1,402) $ (1,303)

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The following tables summarize key operating data for our operating segments: Three Months Ended September 30, 2022 Three Months Ended September 30, 2021 North International Total North International Total Total revenue $ 2,939 $ 248 $ 3,187 $ 3,128 $ 226 $ 3,354 Operating expenses 352 84 436 299 82 381 Leased vehicle expenses 926 14 939 1,076 12 1,088 Provision for loan losses 148 32 180 126 15 141 Interest expense 671 93 764 645 59 704 Equity income — 44 44 — 53 53 Income before income taxes $ 842 $ 68 $ 911 $ 982 $ 111 $ 1,093 Nine Months Ended September 30, 2022 Nine Months Ended September 30, 2021 North International Total North International Total Total revenue $ 8,773 $ 716 $ 9,489 $ 9,487 $ 700 $ 10,187 Operating expenses 970 232 1,202 940 230 1,170 Leased vehicle expenses 2,610 40 2,650 3,120 37 3,157 Provision for loan losses 416 84 500 118 56 174 Interest expense 1,738 246 1,984 1,812 175 1,987 Equity income — 148 148 — 157 157 Income before income taxes $ 3,039 $ 262 $ 3,301 $ 3,497 $ 359 $ 3,856 September 30, 2022 December 31, 2021 North International Total North International Total Finance receivables, net $ 66,420 $ 4,425 $ 70,845 $ 58,883 $ 4,096 $ 62,979 Leased vehicles, net $ 33,558 $ 219 $ 33,778 $ 37,741 $ 188 $ 37,929 Total assets $ 112,375 $ 7,436 $ 119,811 $ 106,572 $ 7,214 $ 113,786

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details)	9 Months Ended
	Sep. 30, 2022 segment
Accounting Policies [Abstract]
Number of operating segments	2

Related Party Transactions - Tr

Related Party Transactions - Transactions (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Related Party Transaction [Line Items]
Commercial finance receivables, net due from dealers consolidated by GM	$ 70,845		$ 70,845		$ 62,979
Revolving Credit Facility | Line of Credit | Cruise
Related Party Transaction [Line Items]
Long-term line of credit	68		68		0
Commercial Finance Receivables
Related Party Transaction [Line Items]
Commercial finance receivables, net due from dealers consolidated by GM	9,429		9,429		6,725
Retail Finance Receivables
Related Party Transaction [Line Items]
Commercial finance receivables, net due from dealers consolidated by GM	61,416		61,416		56,254
Affiliated Entity
Related Party Transaction [Line Items]
Subvention receivable	480		480		282
Leased vehicle subvention earned	456	$ 670	1,503	$ 2,095
Affiliated Entity | Commercial Finance Receivables
Related Party Transaction [Line Items]
Commercial finance receivables, net due from dealers consolidated by GM	177		177		163
Commercial loan funding payable	45		45		26
Taxes payable	166		166		$ 282
Interest subvention earned	17	6	41	22
Affiliated Entity | Retail Finance Receivables
Related Party Transaction [Line Items]
Interest subvention earned	$ 242	$ 205	$ 674	$ 588

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Related Party Transaction [Line Items]
Related party tax payment			$ 508,000,000
GM
Related Party Transaction [Line Items]
Revenue from related parties	$ 732,000,000	$ 828,000,000	1,700,000,000	$ 2,900,000,000
Junior Subordinated Revolving Credit Facility | General Motors
Related Party Transaction [Line Items]
Line of credit facilities - GM Related party facility	1,000,000,000		1,000,000,000
Revolving Credit Facility
Related Party Transaction [Line Items]
Maximum borrowing capacity	18,300,000,000		18,300,000,000
Line of Credit | Revolving Credit Facility | General Motors
Related Party Transaction [Line Items]
Maximum borrowing capacity	15,500,000,000		15,500,000,000
Line of Credit | Revolving Credit Facility | Cruise
Related Party Transaction [Line Items]
Maximum borrowing capacity	5,000,000,000		5,000,000,000
Line of Credit | Revolving Credit Facility | Three Year Revolving Credit Facility Expiring April 2024 | General Motors
Related Party Transaction [Line Items]
Maximum borrowing capacity	4,300,000,000		$ 4,300,000,000
Debt instrument term			3 years
Line of Credit | Revolving Credit Facility | Five Year Revolving Credit Facility | General Motors
Related Party Transaction [Line Items]
Maximum borrowing capacity	11,200,000,000		$ 11,200,000,000
Debt instrument term			5 years
Line of Credit | Revolving Credit Facility | 364 Day Revolving Credit Facilities | General Motors
Related Party Transaction [Line Items]
Maximum borrowing capacity	$ 2,000,000,000		$ 2,000,000,000
Debt instrument term			364 days

Finance Receivables - Narrative

Finance Receivables - Narrative (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Retail Finance Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	$ 618	$ 602
Troubled debt restructurings	2,000	1,900
TDR - nonaccrual loans	217	219
Commercial Finance Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	0	0
Troubled debt restructurings	$ 0	$ 0

Finance Receivables - Finance R

Finance Receivables - Finance Receivables, net (Details) - USD ($) $ in Millions	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: allowance for loan losses	$ (2,086)		$ (1,886)
Total finance receivables, net	70,845		62,979
Level 2
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value utilizing inputs	9,429		6,725
Level 3
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value utilizing inputs	59,890		57,613
Retail Finance Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net of fees	63,461		58,093	$ 57,424
Less: allowance for loan losses	(2,044)	$ (1,987)	(1,839)	$ (1,863)	$ (1,805)	$ (1,915)
Total finance receivables, net	61,416		56,254
Commercial Finance Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net of fees	9,471		6,772
Less: allowance for loan losses	(42)		(47)
Total finance receivables, net	9,429		6,725
Dealer cash management balances	$ 1,500		$ 1,000

Finance Receivables - Allowance

Finance Receivables - Allowance for Loan Losses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for retail loan losses beginning balance			$ 1,886
Provision for loan losses	$ 180	$ 141	500	$ 174
Allowance for retail loan losses ending balance	2,086		2,086
Retail Finance Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for retail loan losses beginning balance	1,987	1,805	1,839	1,915
Provision for loan losses	179	146	506	200
Charge-offs	(289)	(207)	(811)	(664)
Recoveries	171	133	510	426
Foreign currency translation	(4)	(14)	0	(14)
Allowance for retail loan losses ending balance	$ 2,044	$ 1,863	$ 2,044	$ 1,863

Finance Receivables - Credit Ri

Finance Receivables - Credit Risk Profile by FICO Score (Details) - Retail Finance Receivables - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 23,037	$ 27,638
2021	20,449	17,324
2020	12,296	7,084
2019	4,601	3,918
2018	2,238	1,607
Prior	840	522
Total	$ 63,461	$ 58,093	$ 57,424
Percent of portfolio	100%	100%
Prime - FICO Score 680 and greater
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 17,901	$ 19,729
2021	14,587	12,408
2020	8,858	4,078
2019	2,614	2,298
2018	1,272	763
Prior	311	143
Total	$ 45,543	$ 39,419
Percent of portfolio	71.80%	67.90%
Near-prime - FICO Score 620 to 679
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 2,521	$ 3,856
2021	2,843	2,388
2020	1,653	1,229
2019	792	648
2018	375	274
Prior	147	84
Total	$ 8,331	$ 8,479
Percent of portfolio	13.10%	14.60%
Sub-prime - FICO Score less than 620
Financing Receivable, Credit Quality Indicator [Line Items]
2022	$ 2,615	$ 4,053
2021	3,019	2,528
2020	1,785	1,777
2019	1,195	972
2018	591	570
Prior	382	295
Total	$ 9,587	$ 10,195
Percent of portfolio	15.10%	17.50%

Finance Receivables - Delinquen

Finance Receivables - Delinquency (Details) - Retail Finance Receivables - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Financing Receivable, Past Due [Line Items]
2022	$ 23,037	$ 27,638
2021	20,449	17,324
2020	12,296	7,084
2019	4,601	3,918
2018	2,238	1,607
Prior	840	522
Total	$ 63,461	$ 58,093	$ 57,424
Percent of portfolio	100%	100%	100%
Performing Financial Instruments | 0 - 30 days
Financing Receivable, Past Due [Line Items]
2022	$ 22,792	$ 27,270
2021	19,917	16,945
2020	11,944	6,772
2019	4,359	3,721
2018	2,096	1,478
Prior	729	440
Total	$ 61,836	$ 56,626	$ 56,086
Percent of portfolio	97.40%	97.50%	97.70%
Nonperforming Financial Instruments | 31 - 60 days
Financing Receivable, Past Due [Line Items]
2022	$ 183	$ 273
2021	381	276
2020	256	230
2019	179	147
2018	106	97
Prior	81	60
Total	$ 1,185	$ 1,083	$ 989
Percent of portfolio	1.90%	1.80%	1.70%
Nonperforming Financial Instruments | Greater than 60 days
Financing Receivable, Past Due [Line Items]
2022	$ 54	$ 83
2021	133	93
2020	87	76
2019	58	46
2018	33	30
Prior	29	21
Total	$ 394	$ 349	$ 315
Percent of portfolio	0.60%	0.60%	0.50%
Nonperforming Financial Instruments | Finance receivables more than 30 days delinquent
Financing Receivable, Past Due [Line Items]
2022	$ 236	$ 356
2021	514	369
2020	343	306
2019	237	193
2018	139	127
Prior	109	81
Total	$ 1,579	$ 1,432	$ 1,304
Percent of portfolio	2.50%	2.40%	2.20%
Nonperforming Financial Instruments | In repossession
Financing Receivable, Past Due [Line Items]
2022	$ 9	$ 12
2021	18	10
2020	9	6
2019	5	4
2018	3	2
Prior	2	1
Total	$ 46	$ 35	$ 34
Percent of portfolio	0.10%	0.10%	0.10%
Nonperforming Financial Instruments | Finance receivables more than 30 days delinquent or in repossession
Financing Receivable, Past Due [Line Items]
2022	$ 245	$ 368
2021	532	379
2020	352	312
2019	242	197
2018	142	129
Prior	111	82
Total	$ 1,625	$ 1,467	$ 1,338
Percent of portfolio	2.60%	2.50%	2.30%

Finance Receivables - Troubled

Finance Receivables - Troubled Debt Restructurings (Details) - Retail Finance Receivables $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) loan	Sep. 30, 2021 USD ($) loan	Sep. 30, 2022 USD ($) loan	Sep. 30, 2021 USD ($) loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans classified as TDRs during the period | loan	16,745	12,807	41,871	33,227
Outstanding amortized cost of loans classified as TDRs during the period | $	$ 354	$ 250	$ 870	$ 667

Finance Receivables - Credit _2

Finance Receivables - Credit Risk Profile by Dealer (Details) - Commercial Finance Receivables - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 8,039	$ 5,590
2022	485	446
2021	378	457
2020	378	145
2019	116	58
2018	48	62
Prior	27	14
Total	$ 9,471	$ 6,772
Percent of portfolio	100%	100%
Floorplan Advances
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent of revolving balance	94%	94%
Group I - Performing accounts with strong to acceptable financial metrics
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 7,790	$ 5,296
2022	470	433
2021	373	426
2020	378	131
2019	104	57
2018	47	50
Prior	26	10
Total	$ 9,189	$ 6,403
Percent of portfolio	97%	94.60%
Group II - Performing accounts experiencing potential weakness in financial metrics
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 199	$ 213
2022	15	5
2021	4	16
2020	0	12
2019	7	1
2018	0	10
Prior	0	0
Total	$ 226	$ 257
Percent of portfolio	2.40%	3.80%
Group III - Non-Performing accounts with inadequate paying capacity for current obligations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 50	$ 81
2022	0	8
2021	0	15
2020	0	2
2019	5	0
2018	0	2
Prior	0	4
Total	$ 55	$ 112
Percent of portfolio	0.60%	1.60%
Group IV - Non-Performing accounts with inadequate paying capacity for current obligations and inherent weaknesses
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 0	$ 0
2022	0	0
2021	0	0
2020	0	0
2019	0	0
2018	0	0
Prior	0	0
Total	$ 0	$ 0
Percent of portfolio	0%	0%

Leased Vehicles - Summary of Le

Leased Vehicles - Summary of Leased Vehicles (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Lessor Disclosure [Abstract]
Leased vehicles	$ 47,637		$ 47,637		$ 54,821
Manufacturer subvention	(5,555)		(5,555)		(7,398)
Net capitalized cost	42,082		42,082		47,423
Less: accumulated depreciation	(8,305)		(8,305)		(9,494)
Leased vehicles, net	33,778		33,778		$ 37,929
Depreciation expense	$ 1,200	$ 1,600	$ 3,600	$ 4,800

Leased Vehicles - Minimum Renta

Leased Vehicles - Minimum Rental Payments (Details) $ in Millions	Sep. 30, 2022 USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2022	$ 1,396
2023	4,515
2024	2,373
2025	696
2026	56
Thereafter	1
Total	$ 9,037

Equity in Net Assets of Non-c_3

Equity in Net Assets of Non-consolidated Affiliates (Details) - USD ($) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Noncontrolling Interest [Line Items]
Finance charge income		$ 1,158	$ 1,035	$ 3,230	$ 3,087
Income before income taxes		911	1,093	3,301	3,856
Net income		44	53	148	157
Remaining dividend payment				1,144	1,920
Joint Ventures
Noncontrolling Interest [Line Items]
Finance charge income		391	406	1,266	1,254
Income before income taxes		168	205	564	599
Net income		126	$ 154	424	$ 450
Undistributed earnings		$ 889		$ 889		$ 740
SAIC-GMAC
Noncontrolling Interest [Line Items]
Cash dividends received	$ 26

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Short Term and Long Term Debt [Line Items]
Secured debt	$ 40,733	$ 39,338
Unsecured debt	53,090	53,223
Total secured and unsecured debt	93,823	92,561
Secured debt fair value	40,056	39,401
Unsecured debt fair value	50,055	54,357
Fair value of Secured and Unsecured debt	90,111	93,758
Level 2
Short Term and Long Term Debt [Line Items]
Fair value of Secured and Unsecured debt	88,350	92,250
Level 3
Short Term and Long Term Debt [Line Items]
Fair value of Secured and Unsecured debt	1,761	1,508
Revolving Credit Facility
Short Term and Long Term Debt [Line Items]
Secured debt	3,805	3,497
Unsecured debt	1,362	1,229
Secured debt fair value	3,804	3,495
Unsecured debt fair value	1,335	1,211
Securitization Notes Payable
Short Term and Long Term Debt [Line Items]
Secured debt	36,929	35,841
Secured debt fair value	36,252	35,906
Senior Notes
Short Term and Long Term Debt [Line Items]
Unsecured debt	44,259	45,386
Unsecured debt fair value	41,251	46,539
Other Unsecured Debt
Short Term and Long Term Debt [Line Items]
Unsecured debt	7,469	6,608
Unsecured debt fair value	$ 7,470	$ 6,607

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Billions	Sep. 30, 2022 USD ($)
Revolving Credit Facility
Debt Instrument [Line Items]
Renewed borrowing capacity	$ 18.3
Secured Debt | Securitization Notes Payable with Maturity Dates from 2023 to 2030
Debt Instrument [Line Items]
Debt instrument, face amount	$ 18
Weighted average interest rate	2.85%
Unsecured Senior Notes | Senior Notes with Maturity Dates from 2024 to 2032
Debt Instrument [Line Items]
Debt instrument, face amount	$ 7.7
Weighted average interest rate	3.39%

Variable Interest Entities an_3

Variable Interest Entities and Other Transfers of Finance Receivables (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Restricted cash	$ 2,605
Finance receivables, net of fees	70,845	$ 62,979
Lease related assets	33,778	37,929
Secured debt	40,733	39,338
Securitization and Credit Facility VIEs
Variable Interest Entity [Line Items]
Restricted cash	2,486	2,740
Finance receivables, net of fees	36,003	31,940
Lease related assets	17,143	16,143
Secured debt	40,714	39,277
Transferred to secured funding arrangements	167	500
Secured debt outstanding	$ 84	$ 125

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Fair Value (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Notional	$ 135,369	$ 133,971
Fair Value of Assets	2,280	1,017
Fair Value of Liabilities	3,867	691
Fair value of assets (liabilities) available for offset	1,400	505
Other Liabilities
Derivatives, Fair Value [Line Items]
Collateral held for netting against asset positions	471	376
Other Assets
Derivatives, Fair Value [Line Items]
Collateral available for netting against liability positions	1,400	45
Derivatives designated as hedges | Fair value hedges | Interest rate swaps | Level 2
Derivatives, Fair Value [Line Items]
Notional	20,950	15,058
Fair Value of Assets	0	74
Fair Value of Liabilities	864	88
Derivatives designated as hedges | Fair value hedges | Foreign currency swaps | Level 2
Derivatives, Fair Value [Line Items]
Notional	0	682
Fair Value of Assets	0	0
Fair Value of Liabilities	0	59
Derivatives designated as hedges | Cash flow hedges | Interest rate swaps | Level 2
Derivatives, Fair Value [Line Items]
Notional	1,117	611
Fair Value of Assets	26	12
Fair Value of Liabilities	3	4
Derivatives designated as hedges | Cash flow hedges | Foreign currency swaps | Level 2
Derivatives, Fair Value [Line Items]
Notional	6,329	7,419
Fair Value of Assets	4	85
Fair Value of Liabilities	1,036	201
Derivatives not designated as hedges | Interest rate contracts | Level 2
Derivatives, Fair Value [Line Items]
Notional	106,973	110,053
Fair Value of Assets	2,250	846
Fair Value of Liabilities	1,965	339
Derivatives not designated as hedges | Foreign currency contracts | Level 2
Derivatives, Fair Value [Line Items]
Notional	0	148
Fair Value of Assets	0	0
Fair Value of Liabilities	$ 0	$ 0

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Balance Sheet (Details) - Derivatives designated as hedges - Fair value hedges - Unsecured Debt - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Derivatives, Fair Value [Line Items]
Carrying Amount of Hedged Items	$ 28,299	$ 24,964
Cumulative Amount of Fair Value Hedging Adjustments	801	(226)
Discontinued hedge cumulative amount of fair value hedging adjustments	$ 55	$ 246

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, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivatives, Fair Value [Line Items]
Interest expense	$ 764	$ 704	$ 1,984	$ 1,987
Operating expenses	436	381	1,202	1,170
AOCI Attributable to Parent
Derivatives, Fair Value [Line Items]
Gains (Losses) Recognized In Accumulated Other Comprehensive Income (Loss)	(384)	(144)	(825)	(273)
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income (Loss) Into Income (Loss)	383	152	940	323
Fair value hedges | Foreign currency translation adjustment | Foreign currency swaps
Derivatives, Fair Value [Line Items]
Gains (Losses) Recognized In Accumulated Other Comprehensive Income (Loss)	0	(1)	(2)	(5)
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income (Loss) Into Income (Loss)	0	1	2	5
Cash flow hedges | Foreign currency translation adjustment | Foreign currency swaps
Derivatives, Fair Value [Line Items]
Gains (Losses) Recognized In Accumulated Other Comprehensive Income (Loss)	(383)	(147)	(832)	(278)
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income (Loss) Into Income (Loss)	386	149	944	309
Cash flow hedges | Unrealized gain (loss) on hedges | Interest rate swaps
Derivatives, Fair Value [Line Items]
Gains (Losses) Recognized In Accumulated Other Comprehensive Income (Loss)	(1)	4	9	10
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income (Loss) Into Income (Loss)	(3)	2	(6)	9
Interest Expense
Derivatives, Fair Value [Line Items]
Total income (loss) recognized	(2)	7	4	(5)
Operating Expense
Derivatives, Fair Value [Line Items]
Total income (loss) recognized	0	0	0	4
Derivatives designated as hedges | Interest Expense | Fair value hedges | Interest rate swaps
Derivatives, Fair Value [Line Items]
Hedged items	346	69	1,023	314
Interest rate swaps and Foreign currency swaps	(341)	(56)	(963)	(273)
Derivatives designated as hedges | Interest Expense | Fair value hedges | Foreign currency swaps
Derivatives, Fair Value [Line Items]
Hedged items	0	0	0	0
Interest rate swaps and Foreign currency swaps	0	(2)	(2)	(11)
Derivatives designated as hedges | Interest Expense | Cash flow hedges | Interest rate swaps
Derivatives, Fair Value [Line Items]
Interest rate swaps and Foreign currency swaps	4	(2)	9	(12)
Derivatives designated as hedges | Interest Expense | Cash flow hedges | Foreign currency swaps
Derivatives, Fair Value [Line Items]
Hedged items	0	0	0	0
Interest rate swaps and Foreign currency swaps	(42)	(33)	(123)	(93)
Derivatives designated as hedges | Operating Expense | Fair value hedges | Interest rate swaps
Derivatives, Fair Value [Line Items]
Hedged items	0	0	0	0
Interest rate swaps and Foreign currency swaps	0	0	0	0
Derivatives designated as hedges | Operating Expense | Fair value hedges | Foreign currency swaps
Derivatives, Fair Value [Line Items]
Hedged items	0	16	23	48
Interest rate swaps and Foreign currency swaps	0	(16)	(24)	(44)
Derivatives designated as hedges | Operating Expense | Cash flow hedges | Interest rate swaps
Derivatives, Fair Value [Line Items]
Interest rate swaps and Foreign currency swaps	0	0	0	0
Derivatives designated as hedges | Operating Expense | Cash flow hedges | Foreign currency swaps
Derivatives, Fair Value [Line Items]
Hedged items	470	166	1,129	318
Interest rate swaps and Foreign currency swaps	(470)	(166)	(1,129)	(318)
Derivatives not designated as hedges | Interest Expense | Interest rate contracts
Derivatives, Fair Value [Line Items]
Interest rate contracts	31	31	59	70
Derivatives not designated as hedges | Operating Expense | Interest rate contracts
Derivatives, Fair Value [Line Items]
Interest rate contracts	$ 0	$ 0	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Sep. 30, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Estimate of possible loss	$ 169
Loss accrual	145
Indirect tax contingency	$ 64

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Class of Stock [Line Items]
Common stock dividends declared and paid			$ 1,000	$ 1,800
Preferred stock dividends declared and paid	$ 59	$ 59
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends declared and paid			58	58
Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends declared and paid			32	32
Series C Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends declared and paid			$ 29	$ 30

Shareholders' Equity - Summary

Shareholders' Equity - Summary of Common and Preferred Stock (Details) - shares	Sep. 30, 2022	Dec. 31, 2021
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
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
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
Class of Stock [Line Items]
Preferred stock shares issued	500,000	500,000
Preferred stock shares outstanding	500,000	500,000

Shareholders' Equity - Accumula

Shareholders' Equity - Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	$ 14,844	$ 14,465	$ 13,794	$ 13,598
Balance at end of period	15,091	14,600	15,091	14,600
Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	(1,226)	(1,206)	(1,273)	(1,309)
Balance at end of period	(1,402)	(1,303)	(1,402)	(1,303)
Unrealized gain (loss) on hedges
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	39	(115)	(77)	(157)
Other comprehensive income (loss), net of tax	(1)	8	114	50
Balance at end of period	38	(107)	38	(107)
Defined benefit plans
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	0	1	1	1
Other comprehensive income (loss), net of tax	0	0	0	0
Balance at end of period	0	1	0	1
Foreign currency translation adjustment
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	(1,265)	(1,092)	(1,197)	(1,153)
Other comprehensive income (loss), net of tax	(175)	(105)	(244)	(44)
Balance at end of period	$ (1,441)	$ (1,197)	$ (1,441)	$ (1,197)

Segment Reporting - Revenue (De

Segment Reporting - Revenue (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Total revenue	$ 3,187	$ 3,354	$ 9,489	$ 10,187
Operating expenses	436	381	1,202	1,170
Leased vehicle expenses	939	1,088	2,650	3,157
Provision for loan losses	180	141	500	174
Interest expense	764	704	1,984	1,987
Equity income	44	53	148	157
Income before income taxes	911	1,093	3,301	3,856
North America Segment
Segment Reporting Information [Line Items]
Total revenue	2,939	3,128	8,773	9,487
Operating expenses	352	299	970	940
Leased vehicle expenses	926	1,076	2,610	3,120
Provision for loan losses	148	126	416	118
Interest expense	671	645	1,738	1,812
Equity income	0	0	0	0
Income before income taxes	842	982	3,039	3,497
International Segment
Segment Reporting Information [Line Items]
Total revenue	248	226	716	700
Operating expenses	84	82	232	230
Leased vehicle expenses	14	12	40	37
Provision for loan losses	32	15	84	56
Interest expense	93	59	246	175
Equity income	44	53	148	157
Income before income taxes	$ 68	$ 111	$ 262	$ 359

Segment Reporting - Assets (Det

Segment Reporting - Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Finance receivables, net of fees	$ 70,845	$ 62,979
Leased vehicles, net (Note 4; Note 7 VIEs)	33,778	37,929
Total assets	119,811	113,786
North America Segment
Segment Reporting Information [Line Items]
Finance receivables, net of fees	66,420	58,883
Leased vehicles, net (Note 4; Note 7 VIEs)	33,558	37,741
Total assets	112,375	106,572
International Segment
Segment Reporting Information [Line Items]
Finance receivables, net of fees	4,425	4,096
Leased vehicles, net (Note 4; Note 7 VIEs)	219	188
Total assets	$ 7,436	$ 7,214

Regulatory Capital and Other _2

Regulatory Capital and Other Regulatory Matters (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Capital Requirements on Foreign Financial Institutions [Line Items]
Assets	$ 119,811	$ 113,786
International Regulated Bank And Finance Companies
Capital Requirements on Foreign Financial Institutions [Line Items]
Assets	$ 5,300	$ 5,100