General Motors Financial (ACF) 10-Q 25 Jul 23 2023 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2023	Jul. 24, 2023
Document and Entity Information [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
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	2023
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 5,182	$ 4,005
Finance receivables, net of allowance for loan losses $2,202 and $2,096 (Note 3; Note 7)	79,005	74,514
Leased vehicles, net (Note 4; Note 7)	31,560	32,701
Goodwill and intangible assets	1,184	1,171
Equity in net assets of nonconsolidated affiliates (Note 5)	1,667	1,665
Other assets (Note 7)	8,969	7,995
Total assets	128,173	122,545
Liabilities
Secured debt (Note 6; Note 7)	42,004	42,131
Unsecured debt (Note 6)	59,614	54,723
Deferred income	2,303	2,248
Other liabilities	8,650	8,318
Total liabilities	112,888	107,535
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	8,760	8,742
Accumulated other comprehensive income (loss)	(1,312)	(1,373)
Retained earnings	7,837	7,641
Total shareholders' equity	15,284	15,010
Total liabilities and shareholders' equity	128,173	122,545
Related Party
ASSETS
Related party receivables (Note 2)	605	495
Liabilities
Related party payables (Note 2)	$ 318	$ 115

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Allowance for loan losses	$ 2,202	$ 2,096
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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Revenue
Finance charge income	$ 1,490	$ 1,062	$ 2,859	$ 2,072
Leased vehicle income	1,820	1,989	3,638	4,056
Other income	187	95	343	175
Total revenue	3,498	3,146	6,840	6,302
Costs and expenses
Operating expenses	456	393	899	766
Leased vehicle expenses	1,011	856	2,050	1,711
Provision for loan losses (Note 3)	167	198	298	320
Interest expense	1,135	642	2,134	1,219
Total costs and expenses	2,768	2,089	5,381	4,016
Equity income (Note 5)	37	50	78	104
Income before income taxes	766	1,106	1,537	2,390
Income tax provision (Note 11)	195	277	382	599
Net income (loss)	571	829	1,155	1,791
Less: cumulative dividends on preferred stock	30	30	59	59
Net income (loss) attributable to common shareholder	$ 541	$ 799	$ 1,096	$ 1,731

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 571	$ 829	$ 1,155	$ 1,791
Other comprehensive income (loss), net of tax (Note 10)
Unrealized gain (loss) on hedges, net of income tax (expense) benefit of $(3), $(7), $14, $(38)	11	21	(42)	116
Foreign currency translation adjustment	0	(213)	102	(69)
Other comprehensive income (loss), net of tax	11	(192)	60	46
Comprehensive income (loss)	$ 582	$ 637	$ 1,215	$ 1,837

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Comprehensive Income (Parentheticals) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Change in value of cash flow hedges, tax (expense) benefit	$ (3)	$ (7)	$ 14	$ (38)

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, 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)	1,791
Other comprehensive income (loss)	46
Balance at end of period at Jun. 30, 2022	14,844	0	0	8,713	(1,226)	7,357
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
Balance at beginning of period at Dec. 31, 2022	15,010	0	0	8,742	(1,373)	7,641
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	584					584
Other comprehensive income (loss)	49				49
Stock-based compensation	7			7
Dividends paid (Note 10)	(450)					(450)
Balance at end of period at Mar. 31, 2023	15,201	0	0	8,749	(1,323)	7,775
Balance at beginning of period at Dec. 31, 2022	15,010	0	0	8,742	(1,373)	7,641
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,155
Other comprehensive income (loss)	60
Balance at end of period at Jun. 30, 2023	15,284	0	0	8,760	(1,312)	7,837
Balance at beginning of period at Mar. 31, 2023	15,201	0	0	8,749	(1,323)	7,775
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	571					571
Other comprehensive income (loss)	11				11
Stock-based compensation	11			11
Dividends paid (Note 10)	(450)					(450)
Dividends declared on preferred stock (Note 10)	(59)					(59)
Balance at end of period at Jun. 30, 2023	$ 15,284	$ 0	$ 0	$ 8,760	$ (1,312)	$ 7,837

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Cash flows from operating activities
Net income (loss)	$ 1,155	$ 1,791
Depreciation and amortization	2,630	2,536
Accretion and amortization of loan and leasing fees	(648)	(634)
Undistributed earnings of nonconsolidated affiliates, net	(78)	(77)
Provision for loan losses	298	320
Deferred income taxes	(4)	419
Stock-based compensation expense	19	21
Gain on termination of leased vehicles	(435)	(723)
Other operating activities	(67)	(74)
Changes in assets and liabilities:
Other assets	(107)	(943)
Other liabilities	381	(22)
Related party payables	266	(247)
Net cash provided by (used in) operating activities	3,411	2,366
Cash flows from investing activities
Purchases and funding of finance receivables, net	(18,182)	(17,159)
Principal collections and recoveries on finance receivables	13,921	13,763
Net change in floorplan and other short-duration receivables	(7)	(862)
Purchases of leased vehicles, net	(6,834)	(6,203)
Proceeds from termination of leased vehicles	6,673	7,549
Capital contribution to nonconsolidated affiliates	0	(26)
Other investing activities	(15)	(13)
Net cash provided by (used in) investing activities	(4,445)	(2,951)
Cash flows from financing activities
Net change in debt (original maturities less than three months)	74	999
Borrowings and issuances of secured debt	14,676	14,389
Payments on secured debt	(14,902)	(15,634)
Borrowings and issuances of unsecured debt	11,548	9,206
Payments on unsecured debt	(7,335)	(6,558)
Debt issuance costs	(91)	(84)
Dividends paid	(959)	(809)
Net cash provided by (used in) financing activities	3,010	1,508
Net increase (decrease) in cash, cash equivalents and restricted cash	1,976	922
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	62	14
Cash, cash equivalents and restricted cash at beginning of period	6,676	7,183
Cash, cash equivalents and restricted cash at end of period	8,715	8,119
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	5,182
Restricted cash included in other assets	3,532
Total	$ 8,715	$ 8,119

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2023
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, 2022, as filed with the Securities and Exchange Commission on January 31, 2023 (2022 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 June 30, 2023, and for the three and six months ended June 30, 2023 and 2022, 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, 2022 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 (North America Segment) and International (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. Recently Adopted Accounting Standards 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) and enhances certain disclosure requirements. We adopted ASU 2022-02 on a modified retrospective basis on January 1, 2023. The impact of the adoption of ASU 2022-02 was insignificant. Refer to Note 3 for additional information.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2023
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 $915 million and $561 million for the three months ended June 30, 2023 and 2022, and $1.7 billion and $1.0 billion for the six months ended June 30, 2023 and 2022. Subvention due from GM is recorded as a related party receivable. 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, over time, through 2024, to fund the purchase of autonomous vehicles from GM. At June 30, 2023 and December 31, 2022, Cruise had $222 million and $113 million of borrowings outstanding and access to an additional $4.4 billion in advances under the credit agreement. 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 these tax liabilities. During the six months ended June 30, 2023 and 2022, we made payments of $30 million and $380 million to GM for state and federal income taxes related to the tax years 2020 through 2023. Amounts owed to GM for income taxes are recorded as a related party payable. The following tables present related party transactions: Balance Sheet Data June 30, 2023 December 31, 2022 Commercial finance receivables, net due from dealers consolidated by GM $ 142 $ 187 Cruise receivables $ 222 $ 113 Subvention receivable $ 570 $ 469 Commercial loan funding payable $ 42 $ 105 Taxes payable $ 273 $ 8 Three Months Ended June 30, Six Months Ended June 30, Income Statement Data 2023 2022 2023 2022 Interest subvention earned on retail finance receivables (a) $ 280 $ 221 $ 537 $ 431 Interest subvention earned on commercial finance receivables (a) $ 27 $ 14 $ 49 $ 24 Leased vehicle subvention earned (b) $ 389 $ 500 $ 782 $ 1,047 _________________ (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. Additionally, the Support Agreement provides that GM will own all of our outstanding voting shares as long as we have any unsecured debt securities outstanding. GM also agrees to certain provisions in the Support Agreement intended to ensure we maintain adequate access to liquidity. Pursuant to these provisions, GM provides us with a $1.0 billion junior subordinated unsecured intercompany revolving credit facility, and GM will use commercially reasonable efforts to ensure that we will continue to be designated as a subsidiary borrower under GM's corporate revolving credit facilities. We have access, subject to available capacity, to $14.1 billion of GM's unsecured revolving credit facilities consisting of a five-year, $10.0 billion facility and a three-year, $4.1 billion facility. We also have exclusive access to GM's $2.0 billion 364-day revolving credit facility (GM Revolving 364-day Credit Facility). We had no borrowings outstanding under any of the GM revolving credit facilities at June 30, 2023 and December 31, 2022. In March 2023, GM renewed and reduced the total borrowing capacity of the five-year, $11.2 billion facility to $10.0 billion, which now matures on March 31, 2028. GM also renewed and reduced the total borrowing capacity of the three-year, $4.3 billion facility to $4.1 billion, which now matures on March 31, 2026, and renewed the GM Revolving 364-day Credit Facility, which now matures on March 30, 2024.

Finance Receivables

Finance Receivables	6 Months Ended
	Jun. 30, 2023
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Finance Receivables	Finance Receivables June 30, 2023 December 31, 2022 Retail finance receivables Retail finance receivables, net of fees (a) $ 69,722 $ 65,322 Less: allowance for loan losses (2,166) (2,062) Total retail finance receivables, net 67,557 63,260 Commercial finance receivables Commercial finance receivables, net of fees (b) 11,485 11,288 Less: allowance for loan losses (36) (34) Total commercial finance receivables, net 11,449 11,254 Total finance receivables, net $ 79,005 $ 74,514 Fair value utilizing Level 2 inputs $ 11,449 $ 11,254 Fair value utilizing Level 3 inputs $ 66,754 $ 62,150 ________________ (a) Net of unearned income, unamortized premiums and discounts, and deferred fees and costs. (b) Net of dealer cash management balances of $2.3 billion and $1.9 billion at June 30, 2023 and December 31, 2022. 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Allowance for retail loan losses beginning balance $ 2,123 $ 1,884 $ 2,062 $ 1,839 Provision for loan losses 161 202 298 328 Charge-offs (323) (247) (645) (521) Recoveries 191 161 377 339 Foreign currency translation and other 14 (14) 74 4 Allowance for retail loan losses ending balance $ 2,166 $ 1,987 $ 2,166 $ 1,987 The allowance for retail loan losses as of percentage of retail finance receivables, net was 3.1% at June 30, 2023 and 3.2% at December 31, 2022. 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 June 30, 2023 and December 31, 2022: Year of Origination June 30, 2023 2023 2022 2021 2020 2019 Prior Total Percent Prime - FICO Score 680 and greater $ 13,278 $ 18,833 $ 11,095 $ 6,354 $ 1,609 $ 664 $ 51,834 74.3 % Near-prime - FICO Score 620 to 679 1,743 2,763 2,165 1,191 509 243 8,615 12.4 Sub-prime - FICO Score less than 620 1,615 2,823 2,298 1,285 791 462 9,274 13.3 Retail finance receivables, net of fees $ 16,636 $ 24,419 $ 15,558 $ 8,830 $ 2,909 $ 1,369 $ 69,722 100.0 % Year of Origination December 31, 2022 2022 2021 2020 2019 2018 Prior Total Percent Prime - FICO Score 680 and greater $ 22,677 $ 13,399 $ 7,991 $ 2,254 $ 1,019 $ 205 $ 47,543 72.8 % Near-prime - FICO Score 620 to 679 3,202 2,601 1,487 688 310 104 8,392 12.8 Sub-prime - FICO Score less than 620 3,211 2,746 1,604 1,051 496 280 9,388 14.4 Retail finance receivables, net of fees $ 29,090 $ 18,745 $ 11,081 $ 3,992 $ 1,824 $ 589 $ 65,322 100.0 % 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 amortized cost of retail finance receivables by delinquency status, for each vintage of the portfolio at June 30, 2023 and December 31, 2022, as well as summary totals for June 30, 2022. The first table also presents our charge-offs for the six months ended June 30, 2023 by vintage: Year of Origination June 30, 2023 June 30, 2022 2023 2022 2021 2020 2019 Prior Total Percent Total Percent 0 - 30 days $ 16,532 $ 23,898 $ 15,039 $ 8,533 $ 2,726 $ 1,229 $ 67,957 97.5 % $ 59,681 97.5 % 31 - 60 days 79 368 377 218 137 105 1,284 1.8 1,129 1.8 Greater than 60 days 22 133 126 73 43 34 430 0.6 355 0.6 Finance receivables more than 30 days delinquent 101 501 503 291 180 139 1,714 2.5 1,484 2.4 In repossession 4 19 16 6 3 2 51 0.1 43 0.1 Finance receivables more than 30 days delinquent or in repossession 105 521 518 298 183 141 1,765 2.5 1,527 2.5 Retail finance receivables, net of fees $ 16,636 $ 24,419 $ 15,558 $ 8,830 $ 2,909 $ 1,369 $ 69,722 100.0 % $ 61,208 100.0 % Charge-offs $ 9 $ 222 $ 205 $ 101 $ 59 $ 49 $ 645 Year of Origination December 31, 2022 2022 2021 2020 2019 2018 Prior Total Percent 0 - 30 days $ 28,676 $ 18,128 $ 10,702 $ 3,743 $ 1,685 $ 493 $ 63,426 97.1 % 31 - 60 days 310 452 275 184 103 69 1,393 2.1 Greater than 60 days 93 150 98 62 35 26 465 0.7 Finance receivables more than 30 days delinquent 403 603 373 246 138 95 1,857 2.8 In repossession 11 14 6 4 2 1 39 0.1 Finance receivables more than 30 days delinquent or in repossession 414 617 380 249 140 96 1,896 2.9 Retail finance receivables, net of fees $ 29,090 $ 18,745 $ 11,081 $ 3,992 $ 1,824 $ 589 $ 65,322 100.0 % The accrual of finance charge income had been suspended on retail finance receivables with contractual amounts due of $661 million and $685 million at June 30, 2023 and December 31, 2022. 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. Loan Modifications Under certain circumstances, we may agree to modify the terms of an existing loan with a borrower for various reasons, including financial difficulties. For those borrowers experiencing financial difficulties, we may provide payment deferments, term extensions or a combination thereof. A loan that is deferred greater than six months in the preceding twelve months would be considered to be other-than-insignificantly delayed. In such circumstances, we must determine whether the modification should be accounted for as an extinguishment of the original loan and a creation of a new loan, or the continuation of the original loan with modifications. The effect of these modifications is already included in the allowance for credit losses because our estimated allowance represents currently expected credit losses. A change to the allowance for credit losses is generally not recorded upon modification. The amortized cost at June 30, 2023 of the loans modified during the three and six months ended June 30, 2023 was insignificant. The unpaid principal balances, net of recoveries, of loans charged off during the reporting period that were modified within 12 months preceding default were insignificant for the three and six months ended June 30, 2023. 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 June 30, 2023 and December 31, 2022: Year of Origination June 30, 2023 Dealer Risk Rating Revolving 2023 2022 2021 2020 2019 Prior Total Percent I $ 9,636 $ 222 $ 553 $ 328 $ 334 $ 97 $ 44 $ 11,214 97.6 % II 136 — — 1 — — — 137 1.2 III 106 — 18 — — 9 — 133 1.2 IV — — — — — — — — — Balance at end of period $ 9,878 $ 222 $ 571 $ 329 $ 334 $ 105 $ 44 $ 11,485 100.0 % Year of Origination December 31, 2022 Dealer Risk Rating Revolving 2022 2021 2020 2019 2018 Prior Total Percent I $ 9,624 $ 566 $ 361 $ 372 $ 102 $ 45 $ 24 $ 11,094 98.3 % II 89 — 1 — — — — 91 0.8 III 78 15 — — 10 — — 104 0.9 IV — — — — — — — — — Balance at end of period $ 9,791 $ 581 $ 363 $ 372 $ 112 $ 45 $ 25 $ 11,288 100.0 % Floorplan advances comprise 95% and 97% of the total revolving balances at June 30, 2023 and December 31, 2022. Dealer term loans are presented by year of origination. At June 30, 2023 and December 31, 2022, substantially all of our commercial finance receivables were current with respect to payment status, and activity in the allowance for commercial loan losses was insignificant for the three and six months ended June 30, 2023 and 2022. There were no commercial finance receivables on nonaccrual status at June 30, 2023 and December 31, 2022. During the six months ended June 30, 2023, there were insignificant charge-offs and no loan modifications extended to borrowers experiencing financial difficulty.

Leased Vehicles

Leased Vehicles	6 Months Ended
	Jun. 30, 2023
Lessor Disclosure [Abstract]
Leased Vehicles	Leased Vehicles June 30, 2023 December 31, 2022 Leased vehicles $ 44,261 $ 46,069 Manufacturer subvention (4,720) (5,150) Net capitalized cost 39,541 40,919 Less: accumulated depreciation (7,981) (8,218) Leased vehicles, net $ 31,560 $ 32,701 Depreciation expense related to leased vehicles, net was $1.2 billion for both the three months ended June 30, 2023 and 2022 and $2.5 billion and $2.4 billion for the six months ended June 30, 2023 and 2022. The following table summarizes minimum rental payments due to us as lessor under operating leases at June 30, 2023: Years Ending December 31, 2023 2024 2025 2026 2027 Thereafter Total Lease payments under operating leases $ 2,668 $ 3,825 $ 2,031 $ 483 $ 29 $ 1 $ 9,035

Equity in Net Assets of Non-con

Equity in Net Assets of Non-consolidated Affiliates	6 Months Ended
	Jun. 30, 2023
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, 2022. The following table presents certain aggregated operating data of our joint ventures: Three Months Ended June 30, Six Months Ended June 30, Summarized Operating Data 2023 2022 2023 2022 Finance charge income $ 352 $ 424 $ 744 $ 875 Income before income taxes $ 141 $ 190 $ 296 $ 396 Net income $ 106 $ 143 $ 222 $ 297 At June 30, 2023 and December 31, 2022, we had undistributed earnings of $873 million and $795 million related to our nonconsolidated affiliates.

Debt

Debt	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Debt	Debt June 30, 2023 December 31, 2022 Carrying Amount Fair Value Carrying Amount Fair Value Secured debt Revolving credit facilities $ 1,251 $ 1,251 $ 3,931 $ 3,931 Securitization notes payable 40,753 40,177 38,200 37,537 Total secured debt 42,004 41,427 42,131 41,467 Unsecured debt Senior notes 50,125 48,136 46,111 43,676 Credit facilities 1,831 1,812 1,473 1,448 Other unsecured debt 7,659 7,673 7,139 7,146 Total unsecured debt 59,614 57,622 54,723 52,270 Total secured and unsecured debt $ 101,618 $ 99,049 $ 96,854 $ 93,738 Fair value utilizing Level 2 inputs $ 97,015 $ 91,545 Fair value utilizing Level 3 inputs $ 2,035 $ 2,192 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 six months ended June 30, 2023, we renewed credit facilities with a total borrowing capacity of $10.6 billion, and we issued $12.6 billion in aggregate principal amount of securitization notes payable with an initial weighted average interest rate of 5.34% and maturity dates ranging from 2027 to 2035. Unsecured Debt During the six months ended June 30, 2023, we issued $8.3 billion in aggregate principal amount of senior notes with an initial weighted average interest rate of 5.51% and maturity dates ranging from 2026 to 2033. 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 June 30, 2023, we were in compliance with these debt covenants.

Variable Interest Entities and

Variable Interest Entities and Other Transfers of Finance Receivables	6 Months Ended
	Jun. 30, 2023
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: June 30, 2023 December 31, 2022 Restricted cash (a) $ 3,359 $ 2,535 Finance receivables, net of fees $ 38,082 $ 38,774 Lease related assets $ 16,857 $ 18,456 Secured debt $ 42,072 $ 42,188 _______________ (a) Included in other assets. 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 June 30, 2023 and December 31, 2022, an insignificant amount in finance receivables had been transferred in secured funding arrangements to third-party banks, relating to an insignificant amount in secured debt outstanding.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2023
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: June 30, 2023 December 31, 2022 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 $ 23,528 $ — $ 489 $ 19,950 $ — $ 821 Cash flow hedges Interest rate swaps 1,853 19 10 1,434 34 1 Foreign currency swaps 8,739 51 451 6,852 — 586 Derivatives not designated as hedges Interest rate contracts 111,523 2,263 2,379 113,975 2,268 1,984 Total $ 145,643 $ 2,333 $ 3,329 $ 142,212 $ 2,302 $ 3,392 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 both June 30, 2023 and December 31, 2022, the fair value of derivative instruments that are classified as assets or liabilities available for offset was $1.3 billion. At June 30, 2023 and December 31, 2022, we held $678 million and $553 million of collateral from counterparties that was available for netting against our asset positions. At June 30, 2023 and December 31, 2022, we had $1.4 billion and $1.5 billion 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) June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Unsecured debt $ 29,843 $ 28,319 $ 897 $ 781 _________________ (a) Includes $461 million and $86 million of unamortized losses remaining on hedged items for which hedge accounting has been discontinued at June 30, 2023 and December 31, 2022. The table below presents the effect of our derivative financial instruments in the condensed consolidated statements of income: Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 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 $ 145 $ — $ 301 $ — $ 116 $ — $ 677 $ — Interest rate swaps (165) — (282) — (120) — (622) — Hedged items - foreign currency swaps (c) — — — — — — — 23 Foreign currency swaps — — — — — — (2) (24) Cash flow hedges Interest rate swaps 10 — 3 — 19 — 5 — Hedged items - foreign currency swaps (c) — (64) — 499 — (200) — 659 Foreign currency swaps (37) 64 (42) (499) (74) 200 (81) (659) Derivatives not designated as hedges Interest rate contracts 59 — 28 — 110 — 28 — Total income (loss) recognized $ 12 $ — $ 8 $ — $ 52 $ — $ 5 $ — _________________ (a) Total interest expense was $1.1 billion and $642 million for the three months ended June 30, 2023 and 2022, and $2.1 billion and $1.2 billion for the six months ended June 30, 2023 and 2022. (b) Total operating expenses were $456 million and $393 million for the three months ended June 30, 2023 and 2022, and $899 million and $766 million for the six months ended June 30, 2023 and 2022. (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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Fair value hedges Foreign currency swaps $ — $ — $ — $ (2) Cash flow hedges Interest rate swaps (5) 6 (4) 10 Foreign currency swaps 45 (392) 73 (449) Total $ 40 $ (386) $ 70 $ (441) (Gains) Losses Reclassified From Accumulated Other Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Fair value hedges Foreign currency swaps $ — $ — $ — $ 2 Cash flow hedges Interest rate swaps (8) (2) (15) (3) Foreign currency swaps (21) 408 (96) 557 Total $ (29) $ 406 $ (111) $ 557 All amounts reclassified from accumulated other comprehensive income (loss) were recorded to interest expense. During the next 12 months, we estimate $46 million in losses will be reclassified into pre-tax earnings from derivatives designated for hedge accounting.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2023
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 June 30, 2023, we estimated our reasonably possible legal exposure for unfavorable outcomes to be approximately $158 million, and we have accrued $143 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 $179 million at June 30, 2023.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Stockholders' Equity	Shareholders' Equity June 30, 2023 December 31, 2022 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 six months ended June 30, 2023 and 2022, our Board of Directors declared and paid dividends of $900 million and $750 million on our common stock to General Motors Holdings LLC. June 30, 2023 December 31, 2022 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 both the six months ended June 30, 2023 and 2022, we paid dividends of $29 million to holders of record of our Series A Preferred Stock, $16 million to holders of record of our Series B Preferred Stock, and $14 million to holders of record of our Series C Preferred Stock. On June 21, 2023, our Board of Directors declared a dividend of $28.75 per share, $29 million in the aggregate, on our Series A Preferred Stock, a dividend of $32.50 per share, $16 million in the aggregate, on our Series B Preferred Stock, and a dividend of $28.50 per share, $14 million in the aggregate, on our Series C Preferred Stock, payable on September 30, 2023 to holders of record at September 15, 2023. Accordingly, $59 million has been set aside for payment of these dividends. The following table summarizes the significant components of accumulated other comprehensive income (loss): Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Unrealized gain (loss) on hedges Beginning balance $ (73) $ 19 $ (21) $ (77) Change in value of hedges, net of tax 11 21 (42) 116 Ending balance (63) 39 (63) 39 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 (1,251) (1,053) (1,351) (1,197) Translation gain (loss), net of tax — (213) 102 (69) Ending balance (1,250) (1,266) (1,250) (1,266) Total accumulated other comprehensive income (loss) $ (1,312) $ (1,226) $ (1,312) $ (1,226)

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2023
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	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Our chief operating decision maker evaluates the operating results and performance of our business based on our North America and International Segments. The management of each segment is responsible for executing our strategies. Key operating data for our operating segments were as follows: Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 North International Total North International Total Total revenue $ 3,170 $ 328 $ 3,498 $ 2,904 $ 242 $ 3,146 Operating expenses 368 88 456 315 79 393 Leased vehicle expenses 992 18 1,011 842 13 856 Provision for loan losses 135 32 167 170 28 198 Interest expense 995 139 1,135 560 82 642 Equity income — 37 37 — 50 50 Income before income taxes $ 679 $ 87 $ 766 $ 1,017 $ 89 $ 1,106 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 North International Total North International Total Total revenue $ 6,218 $ 622 $ 6,840 $ 5,834 $ 468 $ 6,302 Operating expenses 727 172 899 618 148 766 Leased vehicle expenses 2,015 35 2,050 1,685 26 1,711 Provision for loan losses 249 49 298 268 52 320 Interest expense 1,872 262 2,134 1,067 152 1,219 Equity income — 78 78 — 104 104 Income before income taxes $ 1,356 $ 181 $ 1,537 $ 2,197 $ 194 $ 2,390 June 30, 2023 December 31, 2022 North International Total North International Total Finance receivables, net $ 73,283 $ 5,722 $ 79,005 $ 69,705 $ 4,809 $ 74,514 Leased vehicles, net $ 31,245 $ 315 $ 31,560 $ 32,454 $ 247 $ 32,701 Total assets $ 119,144 $ 9,029 $ 128,173 $ 114,612 $ 7,934 $ 122,545

Regulatory Capital and Other Re

Regulatory Capital and Other Regulatory Matters	6 Months Ended
	Jun. 30, 2023
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 $6.8 billion and $5.8 billion at June 30, 2023 and December 31, 2022.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2023
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, 2022, as filed with the Securities and Exchange Commission on January 31, 2023 (2022 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 (North America Segment) and International (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.
Recently Adopted Accounting Standards	Recently Adopted Accounting Standards 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) and enhances certain disclosure requirements. We adopted ASU 2022-02 on a modified retrospective basis on January 1, 2023. The impact of the adoption of ASU 2022-02 was insignificant. Refer to Note 3 for additional information.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2023
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following tables present related party transactions: Balance Sheet Data June 30, 2023 December 31, 2022 Commercial finance receivables, net due from dealers consolidated by GM $ 142 $ 187 Cruise receivables $ 222 $ 113 Subvention receivable $ 570 $ 469 Commercial loan funding payable $ 42 $ 105 Taxes payable $ 273 $ 8 Three Months Ended June 30, Six Months Ended June 30, Income Statement Data 2023 2022 2023 2022 Interest subvention earned on retail finance receivables (a) $ 280 $ 221 $ 537 $ 431 Interest subvention earned on commercial finance receivables (a) $ 27 $ 14 $ 49 $ 24 Leased vehicle subvention earned (b) $ 389 $ 500 $ 782 $ 1,047 _________________ (a) Included in finance charge income. (b) Included as a reduction to leased vehicle expenses.

Finance Receivables (Tables)

Finance Receivables (Tables)	6 Months Ended
	Jun. 30, 2023
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Finance Receivables, Net	June 30, 2023 December 31, 2022 Retail finance receivables Retail finance receivables, net of fees (a) $ 69,722 $ 65,322 Less: allowance for loan losses (2,166) (2,062) Total retail finance receivables, net 67,557 63,260 Commercial finance receivables Commercial finance receivables, net of fees (b) 11,485 11,288 Less: allowance for loan losses (36) (34) Total commercial finance receivables, net 11,449 11,254 Total finance receivables, net $ 79,005 $ 74,514 Fair value utilizing Level 2 inputs $ 11,449 $ 11,254 Fair value utilizing Level 3 inputs $ 66,754 $ 62,150 ________________ (a) Net of unearned income, unamortized premiums and discounts, and deferred fees and costs. (b) Net of dealer cash management balances of $2.3 billion and $1.9 billion at June 30, 2023 and December 31, 2022.
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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Allowance for retail loan losses beginning balance $ 2,123 $ 1,884 $ 2,062 $ 1,839 Provision for loan losses 161 202 298 328 Charge-offs (323) (247) (645) (521) Recoveries 191 161 377 339 Foreign currency translation and other 14 (14) 74 4 Allowance for retail loan losses ending balance $ 2,166 $ 1,987 $ 2,166 $ 1,987
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 June 30, 2023 and December 31, 2022: Year of Origination June 30, 2023 2023 2022 2021 2020 2019 Prior Total Percent Prime - FICO Score 680 and greater $ 13,278 $ 18,833 $ 11,095 $ 6,354 $ 1,609 $ 664 $ 51,834 74.3 % Near-prime - FICO Score 620 to 679 1,743 2,763 2,165 1,191 509 243 8,615 12.4 Sub-prime - FICO Score less than 620 1,615 2,823 2,298 1,285 791 462 9,274 13.3 Retail finance receivables, net of fees $ 16,636 $ 24,419 $ 15,558 $ 8,830 $ 2,909 $ 1,369 $ 69,722 100.0 % Year of Origination December 31, 2022 2022 2021 2020 2019 2018 Prior Total Percent Prime - FICO Score 680 and greater $ 22,677 $ 13,399 $ 7,991 $ 2,254 $ 1,019 $ 205 $ 47,543 72.8 % Near-prime - FICO Score 620 to 679 3,202 2,601 1,487 688 310 104 8,392 12.8 Sub-prime - FICO Score less than 620 3,211 2,746 1,604 1,051 496 280 9,388 14.4 Retail finance receivables, net of fees $ 29,090 $ 18,745 $ 11,081 $ 3,992 $ 1,824 $ 589 $ 65,322 100.0 % 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 June 30, 2023 Dealer Risk Rating Revolving 2023 2022 2021 2020 2019 Prior Total Percent I $ 9,636 $ 222 $ 553 $ 328 $ 334 $ 97 $ 44 $ 11,214 97.6 % II 136 — — 1 — — — 137 1.2 III 106 — 18 — — 9 — 133 1.2 IV — — — — — — — — — Balance at end of period $ 9,878 $ 222 $ 571 $ 329 $ 334 $ 105 $ 44 $ 11,485 100.0 % Year of Origination December 31, 2022 Dealer Risk Rating Revolving 2022 2021 2020 2019 2018 Prior Total Percent I $ 9,624 $ 566 $ 361 $ 372 $ 102 $ 45 $ 24 $ 11,094 98.3 % II 89 — 1 — — — — 91 0.8 III 78 15 — — 10 — — 104 0.9 IV — — — — — — — — — Balance at end of period $ 9,791 $ 581 $ 363 $ 372 $ 112 $ 45 $ 25 $ 11,288 100.0 %
Past Due Financing Receivables	The following tables are consolidated summaries of the amortized cost of retail finance receivables by delinquency status, for each vintage of the portfolio at June 30, 2023 and December 31, 2022, as well as summary totals for June 30, 2022. The first table also presents our charge-offs for the six months ended June 30, 2023 by vintage: Year of Origination June 30, 2023 June 30, 2022 2023 2022 2021 2020 2019 Prior Total Percent Total Percent 0 - 30 days $ 16,532 $ 23,898 $ 15,039 $ 8,533 $ 2,726 $ 1,229 $ 67,957 97.5 % $ 59,681 97.5 % 31 - 60 days 79 368 377 218 137 105 1,284 1.8 1,129 1.8 Greater than 60 days 22 133 126 73 43 34 430 0.6 355 0.6 Finance receivables more than 30 days delinquent 101 501 503 291 180 139 1,714 2.5 1,484 2.4 In repossession 4 19 16 6 3 2 51 0.1 43 0.1 Finance receivables more than 30 days delinquent or in repossession 105 521 518 298 183 141 1,765 2.5 1,527 2.5 Retail finance receivables, net of fees $ 16,636 $ 24,419 $ 15,558 $ 8,830 $ 2,909 $ 1,369 $ 69,722 100.0 % $ 61,208 100.0 % Charge-offs $ 9 $ 222 $ 205 $ 101 $ 59 $ 49 $ 645 Year of Origination December 31, 2022 2022 2021 2020 2019 2018 Prior Total Percent 0 - 30 days $ 28,676 $ 18,128 $ 10,702 $ 3,743 $ 1,685 $ 493 $ 63,426 97.1 % 31 - 60 days 310 452 275 184 103 69 1,393 2.1 Greater than 60 days 93 150 98 62 35 26 465 0.7 Finance receivables more than 30 days delinquent 403 603 373 246 138 95 1,857 2.8 In repossession 11 14 6 4 2 1 39 0.1 Finance receivables more than 30 days delinquent or in repossession 414 617 380 249 140 96 1,896 2.9 Retail finance receivables, net of fees $ 29,090 $ 18,745 $ 11,081 $ 3,992 $ 1,824 $ 589 $ 65,322 100.0 %

Leased Vehicles (Tables)

Leased Vehicles (Tables)	6 Months Ended
	Jun. 30, 2023
Lessor Disclosure [Abstract]
Summary of Leased Vehicles	June 30, 2023 December 31, 2022 Leased vehicles $ 44,261 $ 46,069 Manufacturer subvention (4,720) (5,150) Net capitalized cost 39,541 40,919 Less: accumulated depreciation (7,981) (8,218) Leased vehicles, net $ 31,560 $ 32,701
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 June 30, 2023: Years Ending December 31, 2023 2024 2025 2026 2027 Thereafter Total Lease payments under operating leases $ 2,668 $ 3,825 $ 2,031 $ 483 $ 29 $ 1 $ 9,035

Equity in Net Assets of Non-c_2

Equity in Net Assets of Non-consolidated Affiliates (Tables)	6 Months Ended
	Jun. 30, 2023
Noncontrolling Interest [Abstract]
Summarized Financial Data of Nonconsolidated Affiliates	The following table presents certain aggregated operating data of our joint ventures: Three Months Ended June 30, Six Months Ended June 30, Summarized Operating Data 2023 2022 2023 2022 Finance charge income $ 352 $ 424 $ 744 $ 875 Income before income taxes $ 141 $ 190 $ 296 $ 396 Net income $ 106 $ 143 $ 222 $ 297

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	June 30, 2023 December 31, 2022 Carrying Amount Fair Value Carrying Amount Fair Value Secured debt Revolving credit facilities $ 1,251 $ 1,251 $ 3,931 $ 3,931 Securitization notes payable 40,753 40,177 38,200 37,537 Total secured debt 42,004 41,427 42,131 41,467 Unsecured debt Senior notes 50,125 48,136 46,111 43,676 Credit facilities 1,831 1,812 1,473 1,448 Other unsecured debt 7,659 7,673 7,139 7,146 Total unsecured debt 59,614 57,622 54,723 52,270 Total secured and unsecured debt $ 101,618 $ 99,049 $ 96,854 $ 93,738 Fair value utilizing Level 2 inputs $ 97,015 $ 91,545 Fair value utilizing Level 3 inputs $ 2,035 $ 2,192

Variable Interest Entities an_2

Variable Interest Entities and Other Transfers of Finance Receivables (Tables)	6 Months Ended
	Jun. 30, 2023
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: June 30, 2023 December 31, 2022 Restricted cash (a) $ 3,359 $ 2,535 Finance receivables, net of fees $ 38,082 $ 38,774 Lease related assets $ 16,857 $ 18,456 Secured debt $ 42,072 $ 42,188 _______________ (a) Included in other assets.

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2023
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: June 30, 2023 December 31, 2022 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 $ 23,528 $ — $ 489 $ 19,950 $ — $ 821 Cash flow hedges Interest rate swaps 1,853 19 10 1,434 34 1 Foreign currency swaps 8,739 51 451 6,852 — 586 Derivatives not designated as hedges Interest rate contracts 111,523 2,263 2,379 113,975 2,268 1,984 Total $ 145,643 $ 2,333 $ 3,329 $ 142,212 $ 2,302 $ 3,392
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) June 30, 2023 December 31, 2022 June 30, 2023 December 31, 2022 Unsecured debt $ 29,843 $ 28,319 $ 897 $ 781 _________________ (a) Includes $461 million and $86 million of unamortized losses remaining on hedged items for which hedge accounting has been discontinued at June 30, 2023 and December 31, 2022.
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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 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 $ 145 $ — $ 301 $ — $ 116 $ — $ 677 $ — Interest rate swaps (165) — (282) — (120) — (622) — Hedged items - foreign currency swaps (c) — — — — — — — 23 Foreign currency swaps — — — — — — (2) (24) Cash flow hedges Interest rate swaps 10 — 3 — 19 — 5 — Hedged items - foreign currency swaps (c) — (64) — 499 — (200) — 659 Foreign currency swaps (37) 64 (42) (499) (74) 200 (81) (659) Derivatives not designated as hedges Interest rate contracts 59 — 28 — 110 — 28 — Total income (loss) recognized $ 12 $ — $ 8 $ — $ 52 $ — $ 5 $ — _________________ (a) Total interest expense was $1.1 billion and $642 million for the three months ended June 30, 2023 and 2022, and $2.1 billion and $1.2 billion for the six months ended June 30, 2023 and 2022. (b) Total operating expenses were $456 million and $393 million for the three months ended June 30, 2023 and 2022, and $899 million and $766 million for the six months ended June 30, 2023 and 2022. (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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Fair value hedges Foreign currency swaps $ — $ — $ — $ (2) Cash flow hedges Interest rate swaps (5) 6 (4) 10 Foreign currency swaps 45 (392) 73 (449) Total $ 40 $ (386) $ 70 $ (441) (Gains) Losses Reclassified From Accumulated Other Three Months Ended June 30, Six Months Ended June 30, 2023 2022 2023 2022 Fair value hedges Foreign currency swaps $ — $ — $ — $ 2 Cash flow hedges Interest rate swaps (8) (2) (15) (3) Foreign currency swaps (21) 408 (96) 557 Total $ (29) $ 406 $ (111) $ 557

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2023
Equity [Abstract]
Summary of Common and Preferred Stock	June 30, 2023 December 31, 2022 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 six months ended June 30, 2023 and 2022, our Board of Directors declared and paid dividends of $900 million and $750 million on our common stock to General Motors Holdings LLC. June 30, 2023 December 31, 2022 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 June 30, Six Months Ended June 30, 2023 2022 2023 2022 Unrealized gain (loss) on hedges Beginning balance $ (73) $ 19 $ (21) $ (77) Change in value of hedges, net of tax 11 21 (42) 116 Ending balance (63) 39 (63) 39 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 (1,251) (1,053) (1,351) (1,197) Translation gain (loss), net of tax — (213) 102 (69) Ending balance (1,250) (1,266) (1,250) (1,266) Total accumulated other comprehensive income (loss) $ (1,312) $ (1,226) $ (1,312) $ (1,226)

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2023
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	Key operating data for our operating segments were as follows: Three Months Ended June 30, 2023 Three Months Ended June 30, 2022 North International Total North International Total Total revenue $ 3,170 $ 328 $ 3,498 $ 2,904 $ 242 $ 3,146 Operating expenses 368 88 456 315 79 393 Leased vehicle expenses 992 18 1,011 842 13 856 Provision for loan losses 135 32 167 170 28 198 Interest expense 995 139 1,135 560 82 642 Equity income — 37 37 — 50 50 Income before income taxes $ 679 $ 87 $ 766 $ 1,017 $ 89 $ 1,106 Six Months Ended June 30, 2023 Six Months Ended June 30, 2022 North International Total North International Total Total revenue $ 6,218 $ 622 $ 6,840 $ 5,834 $ 468 $ 6,302 Operating expenses 727 172 899 618 148 766 Leased vehicle expenses 2,015 35 2,050 1,685 26 1,711 Provision for loan losses 249 49 298 268 52 320 Interest expense 1,872 262 2,134 1,067 152 1,219 Equity income — 78 78 — 104 104 Income before income taxes $ 1,356 $ 181 $ 1,537 $ 2,197 $ 194 $ 2,390 June 30, 2023 December 31, 2022 North International Total North International Total Finance receivables, net $ 73,283 $ 5,722 $ 79,005 $ 69,705 $ 4,809 $ 74,514 Leased vehicles, net $ 31,245 $ 315 $ 31,560 $ 32,454 $ 247 $ 32,701 Total assets $ 119,144 $ 9,029 $ 128,173 $ 114,612 $ 7,934 $ 122,545

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details)	6 Months Ended
	Jun. 30, 2023 segment
Accounting Policies [Abstract]
Number of operating segments	2

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($)	1 Months Ended		3 Months Ended		6 Months Ended
	Mar. 31, 2023	Feb. 28, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Revenues			$ 3,498,000,000	$ 3,146,000,000	$ 6,840,000,000	$ 6,302,000,000
Related party tax payment					$ 30,000,000	380,000,000
Line of Credit | General Motors | Five Year Revolving Credit Facility
Related Party Transaction [Line Items]
Maximum borrowing capacity		$ 11,200,000,000
Debt instrument term		5 years			5 years
Current borrowing capacity	$ 10,000,000,000
Line of Credit | General Motors | Three Year Revolving Credit Facility
Related Party Transaction [Line Items]
Maximum borrowing capacity		$ 4,300,000,000
Debt instrument term		3 years
Current borrowing capacity	$ 4,100,000,000
Line of Credit | General Motors | 364 Day Revolving Credit Facilities
Related Party Transaction [Line Items]
Debt instrument term	364 days
Revolving Credit Facility
Related Party Transaction [Line Items]
Maximum borrowing capacity			10,600,000,000		$ 10,600,000,000
Revolving Credit Facility | Line of Credit | Cruise
Related Party Transaction [Line Items]
Long-term line of credit			222,000,000		222,000,000		$ 113,000,000
Maximum borrowing capacity			4,400,000,000		4,400,000,000
Revolving Credit Facility | Line of Credit | General Motors
Related Party Transaction [Line Items]
Maximum borrowing capacity			14,100,000,000		14,100,000,000
Revolving Credit Facility | Line of Credit | General Motors | Three Year Revolving Credit Facility
Related Party Transaction [Line Items]
Maximum borrowing capacity			4,100,000,000		$ 4,100,000,000
Debt instrument term					3 years
Revolving Credit Facility | Line of Credit | General Motors | 364 Day Revolving Credit Facilities
Related Party Transaction [Line Items]
Maximum borrowing capacity			2,000,000,000		$ 2,000,000,000
Debt instrument term					364 days
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
GM
Related Party Transaction [Line Items]
Revenues			$ 915,000,000	$ 561,000,000	$ 1,700,000,000	$ 1,000,000,000

Related Party Transactions - Tr

Related Party Transactions - Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Related Party Transaction [Line Items]
Commercial finance receivables, net due from dealers consolidated by GM	$ 79,005		$ 79,005		$ 74,514
Revolving Credit Facility | Line of Credit | Cruise
Related Party Transaction [Line Items]
Long-term line of credit	222		222		113
Affiliated Entity
Related Party Transaction [Line Items]
Commercial finance receivables, net due from dealers consolidated by GM	570		570		469
Leased vehicle subvention earned	389	$ 500	782	$ 1,047
Commercial Finance Receivables
Related Party Transaction [Line Items]
Commercial finance receivables, net due from dealers consolidated by GM	11,449		11,449		11,254
Commercial Finance Receivables | Affiliated Entity
Related Party Transaction [Line Items]
Commercial finance receivables, net due from dealers consolidated by GM	142		142		187
Commercial loan funding payable	42		42		105
Taxes payable	273		273		8
Interest subvention earned	27	14	49	24
Retail Finance Receivables
Related Party Transaction [Line Items]
Commercial finance receivables, net due from dealers consolidated by GM	67,557		67,557		$ 63,260
Retail Finance Receivables | Affiliated Entity
Related Party Transaction [Line Items]
Interest subvention earned	$ 280	$ 221	$ 537	$ 431

Finance Receivables - Finance R

Finance Receivables - Finance Receivables, net (Details) - USD ($) $ in Millions	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: allowance for loan losses	$ (2,202)		$ (2,096)
Total finance receivables, net	79,005		74,514
Level 2
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value utilizing inputs	11,449		11,254
Level 3
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value utilizing inputs	66,754		62,150
Retail finance receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net of fees	69,722		65,322	$ 61,208
Less: allowance for loan losses	(2,166)	$ (2,123)	(2,062)	$ (1,987)	$ (1,884)	$ (1,839)
Total finance receivables, net	67,557		63,260
Commercial finance receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables, net of fees	11,485		11,288
Less: allowance for loan losses	(36)		(34)
Total finance receivables, net	11,449		11,254
Dealer cash management balances	$ 2,300		$ 1,900

Finance Receivables - Allowance

Finance Receivables - Allowance for Loan Losses (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for retail loan losses beginning balance			$ 2,096
Provision for loan losses	$ 167	$ 198	298	$ 320
Charge-offs			(645)
Allowance for retail loan losses ending balance	2,202		2,202
Retail Finance Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for retail loan losses beginning balance	2,123	1,884	2,062	1,839
Provision for loan losses	161	202	298	328
Charge-offs	(323)	(247)	(645)	(521)
Recoveries	191	161	377	339
Foreign currency translation and other	14	(14)	74	4
Allowance for retail loan losses ending balance	$ 2,166	$ 1,987	$ 2,166	$ 1,987

Finance Receivables - Narrative

Finance Receivables - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Charge-offs			$ 645
Retail Finance Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit loss of finance receivables, percentage	3.10%		3.10%		3.20%
Nonaccrual loans	$ 661		$ 661		$ 685
Charge-offs	323	$ 247	645	$ 521
Commercial Finance Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	$ 0		0		$ 0
Loan modifications			$ 0

Finance Receivables - Credit Ri

Finance Receivables - Credit Risk Profile by FICO Score (Details) - Retail Finance Receivables - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022	Jun. 30, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 16,636	$ 29,090
2022	24,419	18,745
2021	15,558	11,081
2020	8,830	3,992
2019	2,909	1,824
Prior	1,369	589
Total	$ 69,722	$ 65,322	$ 61,208
Percent	100%	100%
Prime - FICO Score 680 and greater
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 13,278	$ 22,677
2022	18,833	13,399
2021	11,095	7,991
2020	6,354	2,254
2019	1,609	1,019
Prior	664	205
Total	$ 51,834	$ 47,543
Percent	74.30%	72.80%
Near-prime - FICO Score 620 to 679
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 1,743	$ 3,202
2022	2,763	2,601
2021	2,165	1,487
2020	1,191	688
2019	509	310
Prior	243	104
Total	$ 8,615	$ 8,392
Percent	12.40%	12.80%
Sub-prime - FICO Score less than 620
Financing Receivable, Credit Quality Indicator [Line Items]
2023	$ 1,615	$ 3,211
2022	2,823	2,746
2021	2,298	1,604
2020	1,285	1,051
2019	791	496
Prior	462	280
Total	$ 9,274	$ 9,388
Percent	13.30%	14.40%

Finance Receivables - Delinquen

Finance Receivables - Delinquency (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Charge-offs
2023			$ 9
2022			222
2021			205
2020			101
2019			59
Prior			49
Total			645
Retail Finance Receivables
Financing Receivable, Past Due [Line Items]
2023	$ 16,636		16,636		$ 29,090
2022	24,419		24,419		18,745
2021	15,558		15,558		11,081
2020	8,830		8,830		3,992
2019	2,909		2,909		1,824
Prior	1,369		1,369		589
Total	$ 69,722	$ 61,208	$ 69,722	$ 61,208	$ 65,322
Percent of portfolio	100%	100%	100%	100%	100%
Charge-offs
Total	$ 323	$ 247	$ 645	$ 521
Retail Finance Receivables | Performing Financial Instruments | 0 - 30 days
Financing Receivable, Past Due [Line Items]
2023	16,532		16,532		$ 28,676
2022	23,898		23,898		18,128
2021	15,039		15,039		10,702
2020	8,533		8,533		3,743
2019	2,726		2,726		1,685
Prior	1,229		1,229		493
Total	$ 67,957	$ 59,681	$ 67,957	$ 59,681	$ 63,426
Percent of portfolio	97.50%	97.50%	97.50%	97.50%	97.10%
Retail Finance Receivables | Nonperforming Financial Instruments | 31 - 60 days
Financing Receivable, Past Due [Line Items]
2023	$ 79		$ 79		$ 310
2022	368		368		452
2021	377		377		275
2020	218		218		184
2019	137		137		103
Prior	105		105		69
Total	$ 1,284	$ 1,129	$ 1,284	$ 1,129	$ 1,393
Percent of portfolio	1.80%	1.80%	1.80%	1.80%	2.10%
Retail Finance Receivables | Nonperforming Financial Instruments | Greater than 60 days
Financing Receivable, Past Due [Line Items]
2023	$ 22		$ 22		$ 93
2022	133		133		150
2021	126		126		98
2020	73		73		62
2019	43		43		35
Prior	34		34		26
Total	$ 430	$ 355	$ 430	$ 355	$ 465
Percent of portfolio	0.60%	0.60%	0.60%	0.60%	0.70%
Retail Finance Receivables | Nonperforming Financial Instruments | Finance receivables more than 30 days delinquent
Financing Receivable, Past Due [Line Items]
2023	$ 101		$ 101		$ 403
2022	501		501		603
2021	503		503		373
2020	291		291		246
2019	180		180		138
Prior	139		139		95
Total	$ 1,714	$ 1,484	$ 1,714	$ 1,484	$ 1,857
Percent of portfolio	2.50%	2.40%	2.50%	2.40%	2.80%
Retail Finance Receivables | Nonperforming Financial Instruments | In repossession
Financing Receivable, Past Due [Line Items]
2023	$ 4		$ 4		$ 11
2022	19		19		14
2021	16		16		6
2020	6		6		4
2019	3		3		2
Prior	2		2		1
Total	$ 51	$ 43	$ 51	$ 43	$ 39
Percent of portfolio	0.10%	0.10%	0.10%	0.10%	0.10%
Retail Finance Receivables | Nonperforming Financial Instruments | Finance receivables more than 30 days delinquent or in repossession
Financing Receivable, Past Due [Line Items]
2023	$ 105		$ 105		$ 414
2022	521		521		617
2021	518		518		380
2020	298		298		249
2019	183		183		140
Prior	141		141		96
Total	$ 1,765	$ 1,527	$ 1,765	$ 1,527	$ 1,896
Percent of portfolio	2.50%	2.50%	2.50%	2.50%	2.90%

Finance Receivables - Credit _2

Finance Receivables - Credit Risk Profile by Dealer (Details) - Commercial Finance Receivables - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 9,878	$ 9,791
2023	222	581
2022	571	363
2021	329	372
2020	334	112
2019	105	45
Prior	44	25
Total	$ 11,485	$ 11,288
Percent	100%	100%
Floorplan Advances
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent of revolving balance	95%	97%
Group I - Performing accounts with strong to acceptable financial metrics
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 9,636	$ 9,624
2023	222	566
2022	553	361
2021	328	372
2020	334	102
2019	97	45
Prior	44	24
Total	$ 11,214	$ 11,094
Percent	97.60%	98.30%
Group II - Performing accounts experiencing potential weakness in financial metrics
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 136	$ 89
2023	0	0
2022	0	1
2021	1	0
2020	0	0
2019	0	0
Prior	0	0
Total	$ 137	$ 91
Percent	1.20%	0.80%
Group III - Non-Performing accounts with inadequate paying capacity for current obligations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 106	$ 78
2023	0	15
2022	18	0
2021	0	0
2020	0	10
2019	9	0
Prior	0	0
Total	$ 133	$ 104
Percent	1.20%	0.90%
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
2023	0	0
2022	0	0
2021	0	0
2020	0	0
2019	0	0
Prior	0	0
Total	$ 0	$ 0
Percent	0%	0%

Leased Vehicles - Summary of Le

Leased Vehicles - Summary of Leased Vehicles (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Lessor Disclosure [Abstract]
Leased vehicles	$ 44,261		$ 44,261		$ 46,069
Manufacturer subvention	(4,720)		(4,720)		(5,150)
Net capitalized cost	39,541		39,541		40,919
Less: accumulated depreciation	(7,981)		(7,981)		(8,218)
Leased vehicles, net	31,560		31,560		$ 32,701
Depreciation expense	$ 1,200	$ 1,200	$ 2,500	$ 2,400

Leased Vehicles - Minimum Renta

Leased Vehicles - Minimum Rental Payments (Details) $ in Millions	Jun. 30, 2023 USD ($)
Operating Leases, Future Minimum Payments Receivable [Abstract]
2023	$ 2,668
2024	3,825
2025	2,031
2026	483
2027	29
Thereafter	1
Total	$ 9,035

Equity in Net Assets of Non-c_3

Equity in Net Assets of Non-consolidated Affiliates (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Noncontrolling Interest [Line Items]
Finance charge income	$ 1,490	$ 1,062	$ 2,859	$ 2,072
Income before income taxes	766	1,106	1,537	2,390
Net income	37	50	78	104
Joint Ventures
Noncontrolling Interest [Line Items]
Finance charge income	352	424	744	875
Income before income taxes	141	190	296	396
Net income	106	$ 143	222	$ 297
Undistributed earnings	$ 873		$ 873		$ 795

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Short Term and Long Term Debt [Line Items]
Secured debt	$ 42,004	$ 42,131
Unsecured debt	59,614	54,723
Total secured and unsecured debt	101,618	96,854
Secured debt fair value	41,427	41,467
Unsecured debt fair value	57,622	52,270
Fair value of Secured and Unsecured debt	99,049	93,738
Level 2
Short Term and Long Term Debt [Line Items]
Fair value of Secured and Unsecured debt	97,015	91,545
Level 3
Short Term and Long Term Debt [Line Items]
Fair value of Secured and Unsecured debt	2,035	2,192
Revolving credit facilities
Short Term and Long Term Debt [Line Items]
Secured debt	1,251	3,931
Unsecured debt	1,831	1,473
Secured debt fair value	1,251	3,931
Unsecured debt fair value	1,812	1,448
Securitization notes payable
Short Term and Long Term Debt [Line Items]
Secured debt	40,753	38,200
Secured debt fair value	40,177	37,537
Senior notes
Short Term and Long Term Debt [Line Items]
Unsecured debt	50,125	46,111
Unsecured debt fair value	48,136	43,676
Other unsecured debt
Short Term and Long Term Debt [Line Items]
Unsecured debt	7,659	7,139
Unsecured debt fair value	$ 7,673	$ 7,146

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Billions	Jun. 30, 2023 USD ($)
Revolving Credit Facility
Debt Instrument [Line Items]
Renewed borrowing capacity	$ 10.6
Secured Debt | Securitization Notes Payable with Maturity Dates from 2027 to 2035
Debt Instrument [Line Items]
Debt instrument, face amount	$ 12.6
Weighted average interest rate	5.34%
Unsecured Senior Notes | Senior Notes with Maturity Dates from 2026 to 2033
Debt Instrument [Line Items]
Debt instrument, face amount	$ 8.3
Weighted average interest rate	5.51%

Variable Interest Entities an_3

Variable Interest Entities and Other Transfers of Finance Receivables (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Variable Interest Entity [Line Items]
Restricted cash	$ 3,532
Finance receivables, net of fees	79,005	$ 74,514
Lease related assets	31,560	32,701
Secured debt	42,004	42,131
Securitization and Credit Facility VIEs
Variable Interest Entity [Line Items]
Restricted cash	3,359	2,535
Finance receivables, net of fees	38,082	38,774
Lease related assets	16,857	18,456
Secured debt	$ 42,072	$ 42,188

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Notional	$ 145,643	$ 142,212
Fair Value of Assets	2,333	2,302
Fair Value of Liabilities	3,329	3,392
Fair value of assets (liabilities) available for offset	1,300	1,300
Other Liabilities
Derivatives, Fair Value [Line Items]
Collateral held for netting against asset positions	678	553
Other Assets
Derivatives, Fair Value [Line Items]
Collateral available for netting against liability positions	1,400	1,500
Derivatives designated as hedges | Fair value hedges | Interest rate swaps | Level 2
Derivatives, Fair Value [Line Items]
Notional	23,528	19,950
Fair Value of Assets	0	0
Fair Value of Liabilities	489	821
Derivatives designated as hedges | Cash flow hedges | Interest rate swaps | Level 2
Derivatives, Fair Value [Line Items]
Notional	1,853	1,434
Fair Value of Assets	19	34
Fair Value of Liabilities	10	1
Derivatives designated as hedges | Cash flow hedges | Foreign currency swaps | Level 2
Derivatives, Fair Value [Line Items]
Notional	8,739	6,852
Fair Value of Assets	51	0
Fair Value of Liabilities	451	586
Derivatives not designated as hedges | Interest rate contracts | Level 2
Derivatives, Fair Value [Line Items]
Notional	111,523	113,975
Fair Value of Assets	2,263	2,268
Fair Value of Liabilities	$ 2,379	$ 1,984

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Derivatives, Fair Value [Line Items]
Hedged Liability, Statement of Financial Position [Extensible Enumeration]	Unsecured debt (Note 6)	Unsecured debt (Note 6)
Derivatives designated as hedges | Fair value hedges
Derivatives, Fair Value [Line Items]
Carrying Amount of Hedged Items	$ 29,843	$ 28,319
Cumulative Amount of Fair Value Hedging Adjustments	897	781
Discontinued hedge cumulative amount of fair value hedging adjustments	$ 461	$ 86

Derivative Financial Instrume_5

Derivative Financial Instruments and Hedging Activities - Income (Losses) Recognized in Income (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Derivatives, Fair Value [Line Items]
Interest expense	$ 1,135	$ 642	$ 2,134	$ 1,219
Operating expenses	456	393	899	766
Loss to be reclassified in next twelve months			46
AOCI Attributable to Parent
Derivatives, Fair Value [Line Items]
Gains (Losses) Recognized In Accumulated Other Comprehensive Income (Loss)	40	(386)	70	(441)
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income (Loss) Into Income (Loss)	(29)	406	(111)	557
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	0	0	(2)
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income (Loss) Into Income (Loss)	0	0	0	2
Cash flow hedges | Foreign currency translation adjustment | Foreign currency swaps
Derivatives, Fair Value [Line Items]
Gains (Losses) Recognized In Accumulated Other Comprehensive Income (Loss)	45	(392)	73	(449)
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income (Loss) Into Income (Loss)	(21)	408	(96)	557
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)	(5)	6	(4)	10
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income (Loss) Into Income (Loss)	(8)	(2)	(15)	(3)
Interest Expense
Derivatives, Fair Value [Line Items]
Total income (loss) recognized	12	8	52	5
Operating Expense
Derivatives, Fair Value [Line Items]
Total income (loss) recognized	0	0	0	0
Derivatives designated as hedges | Interest Expense | Fair value hedges | Interest rate swaps
Derivatives, Fair Value [Line Items]
Hedged items	145	301	116	677
Interest rate swaps and Foreign currency swaps	(165)	(282)	(120)	(622)
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	0	0	(2)
Derivatives designated as hedges | Interest Expense | Cash flow hedges | Interest rate swaps
Derivatives, Fair Value [Line Items]
Interest rate swaps and Foreign currency swaps	10	3	19	5
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	(37)	(42)	(74)	(81)
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	0	0	23
Interest rate swaps and Foreign currency swaps	0	0	0	(24)
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	(64)	499	(200)	659
Interest rate swaps and Foreign currency swaps	64	(499)	200	(659)
Derivatives not designated as hedges | Interest Expense | Interest rate contracts
Derivatives, Fair Value [Line Items]
Interest rate contracts	59	28	110	28
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	Jun. 30, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Estimate of possible loss	$ 158
Loss accrual	143
Indirect tax contingency	$ 179

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
	Jun. 21, 2023	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Class of Stock [Line Items]
Common stock dividends declared and paid				$ 900	$ 750
Preferred stock dividends declared and paid		$ 59	$ 59
Amount set aside for preferred stock payments	$ 59
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 29			29	29
Preferred stock dividends declared (in dollars per share)	$ 28.75
Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 16			16	16
Preferred stock dividends declared (in dollars per share)	$ 32.50
Series C Preferred Stock
Class of Stock [Line Items]
Preferred stock dividends declared and paid	$ 14			$ 14	$ 14
Preferred stock dividends declared (in dollars per share)	$ 28.50

Shareholders' Equity - Summary

Shareholders' Equity - Summary of Common and Preferred Stock (Details) - shares	Jun. 30, 2023	Dec. 31, 2022
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		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	$ 15,201	$ 15,004	$ 15,010	$ 13,794
Balance at end of period	15,284	14,844	15,284	14,844
Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	(1,323)	(1,034)	(1,373)	(1,273)
Balance at end of period	(1,312)	(1,226)	(1,312)	(1,226)
Unrealized gain (loss) on hedges
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	(73)	19	(21)	(77)
Other comprehensive income (loss), net of tax	11	21	(42)	116
Balance at end of period	(63)	39	(63)	39
Defined benefit plans
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	1	0	1	1
Other comprehensive income (loss), net of tax	0	0	0	0
Balance at end of period	1	0	1	0
Foreign currency translation adjustment
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	(1,251)	(1,053)	(1,351)	(1,197)
Other comprehensive income (loss), net of tax	0	(213)	102	(69)
Balance at end of period	$ (1,250)	$ (1,266)	$ (1,250)	$ (1,266)

Segment Reporting - Revenue (De

Segment Reporting - Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Segment Reporting Information [Line Items]
Total revenue	$ 3,498	$ 3,146	$ 6,840	$ 6,302
Operating expenses	456	393	899	766
Leased vehicle expenses	1,011	856	2,050	1,711
Provision for loan losses	167	198	298	320
Interest expense	1,135	642	2,134	1,219
Equity income	37	50	78	104
Income before income taxes	766	1,106	1,537	2,390
North America Segment
Segment Reporting Information [Line Items]
Total revenue	3,170	2,904	6,218	5,834
Operating expenses	368	315	727	618
Leased vehicle expenses	992	842	2,015	1,685
Provision for loan losses	135	170	249	268
Interest expense	995	560	1,872	1,067
Equity income	0	0	0	0
Income before income taxes	679	1,017	1,356	2,197
International Segment
Segment Reporting Information [Line Items]
Total revenue	328	242	622	468
Operating expenses	88	79	172	148
Leased vehicle expenses	18	13	35	26
Provision for loan losses	32	28	49	52
Interest expense	139	82	262	152
Equity income	37	50	78	104
Income before income taxes	$ 87	$ 89	$ 181	$ 194

Segment Reporting - Assets (Det

Segment Reporting - Assets (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Finance receivables, net of fees	$ 79,005	$ 74,514
Leased vehicles, net (Note 4; Note 7)	31,560	32,701
Total assets	128,173	122,545
North America Segment
Segment Reporting Information [Line Items]
Finance receivables, net of fees	73,283	69,705
Leased vehicles, net (Note 4; Note 7)	31,245	32,454
Total assets	119,144	114,612
International Segment
Segment Reporting Information [Line Items]
Finance receivables, net of fees	5,722	4,809
Leased vehicles, net (Note 4; Note 7)	315	247
Total assets	$ 9,029	$ 7,934

Regulatory Capital and Other _2

Regulatory Capital and Other Regulatory Matters (Details) - USD ($) $ in Millions	Jun. 30, 2023	Dec. 31, 2022
Capital Requirements on Foreign Financial Institutions [Line Items]
Assets	$ 128,173	$ 122,545
International Regulated Bank And Finance Companies
Capital Requirements on Foreign Financial Institutions [Line Items]
Assets	$ 6,800	$ 5,800