General Motors Financial (ACF) 10-Q 23 Jul 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 22, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
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
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Entity Central Index Key	0000804269
Current Fiscal Year End Date	--12-31

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
ASSETS
Cash and cash equivalents	$ 7,448	$ 5,282
Finance receivables, net of allowance for loan losses of $2,311 and $2,344 (Note 3; Note 7)	88,151	84,637
Leased vehicles, net (Note 4; Note 7)	30,345	30,582
Goodwill and intangible assets	1,176	1,184
Equity in net assets of nonconsolidated affiliates (Note 5)	1,675	1,670
Related party receivables (Note 2)	595	540
Other assets (Note 7)	7,932	8,116
Total assets	137,322	132,011
Liabilities
Secured debt (Note 6; Note 7)	44,630	45,243
Unsecured debt (Note 6)	65,476	60,084
Deferred income	2,320	2,313
Related party payables (Note 2)	518	445
Other liabilities	8,841	8,383
Total liabilities	121,785	116,468
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	8,797	8,783
Accumulated other comprehensive income (loss)	(1,414)	(1,208)
Retained earnings	8,155	7,967
Total shareholders' equity	15,538	15,542
Total liabilities and shareholders' equity	$ 137,322	$ 132,011

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowance for loan losses	$ 2,311	$ 2,344
Common stock par value (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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue
Finance charge income	$ 1,876	$ 1,490	$ 3,662	$ 2,859
Leased vehicle income	1,803	1,820	3,603	3,638
Other income	239	187	464	343
Total revenue	3,918	3,498	7,729	6,840
Costs and expenses
Operating expenses	479	456	937	899
Leased vehicle expenses	972	1,011	2,019	2,050
Provision for loan losses (Note 3)	174	167	378	298
Interest expense	1,485	1,135	2,881	2,134
Total costs and expenses	3,109	2,768	6,215	5,381
Equity income (Note 5)	14	37	45	78
Income before income taxes	822	766	1,559	1,537
Income tax provision (Note 11)	212	195	412	382
Net income (loss)	610	571	1,147	1,155
Less: cumulative dividends on preferred stock	30	30	59	59
Net income (loss) attributable to common shareholder	$ 581	$ 541	$ 1,088	$ 1,096

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 610	$ 571	$ 1,147	$ 1,155
Other comprehensive income (loss), net of tax (Note 10)
Unrealized gain (loss) on hedges, net of income tax (expense) benefit of $3, $(3) $(6), $14	(9)	11	17	(42)
Foreign currency translation adjustment	(159)	0	(224)	102
Other comprehensive income (loss), net of tax	(168)	11	(207)	60
Comprehensive income (loss)	$ 442	$ 582	$ 940	$ 1,215

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Change in value of cash flow hedges, tax (expense) benefit	$ 3	$ (3)	$ (6)	$ 14

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, 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
Balance at beginning of period at Dec. 31, 2023	15,542	0	0	8,783	(1,208)	7,967
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	536					536
Other comprehensive income (loss)	(39)				(39)
Stock-based compensation	6			6
Dividends paid (Note 10)	(450)					(450)
Balance at end of period at Mar. 31, 2024	15,596	0	0	8,789	(1,246)	8,054
Balance at beginning of period at Dec. 31, 2023	15,542	0	0	8,783	(1,208)	7,967
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	1,147
Other comprehensive income (loss)	(207)
Balance at end of period at Jun. 30, 2024	15,538	0	0	8,797	(1,414)	8,155
Balance at beginning of period at Mar. 31, 2024	15,596	0	0	8,789	(1,246)	8,054
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	610					610
Other comprehensive income (loss)	(168)				(168)
Stock-based compensation	8			8
Dividends paid (Note 10)	(450)					(450)
Dividends declared on preferred stock (Note 10)	(59)					(59)
Balance at end of period at Jun. 30, 2024	$ 15,538	$ 0	$ 0	$ 8,797	$ (1,414)	$ 8,155

CONDENSED CONSOLIDATED STATEM_5

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities
Net income (loss)	$ 1,147	$ 1,155
Depreciation and amortization	2,626	2,630
Accretion and amortization of loan and leasing fees	(728)	(648)
Undistributed earnings of nonconsolidated affiliates, net	(45)	(78)
Provision for loan losses	378	298
Deferred income taxes	287	(4)
Stock-based compensation expense	19	19
Gain on termination of leased vehicles	(417)	(435)
Other operating activities	(45)	(67)
Changes in assets and liabilities:
Other assets	(304)	(107)
Other liabilities	253	381
Related party payables	44	266
Net cash provided by (used in) operating activities	3,214	3,411
Cash flows from investing activities
Purchases and funding of finance receivables	(17,025)	(18,182)
Principal collections and recoveries on finance receivables	15,577	13,921
Net change in floorplan and other short-duration receivables	(2,991)	(7)
Purchases of leased vehicles	(7,489)	(6,834)
Proceeds from termination of leased vehicles	6,157	6,673
Other investing activities	(10)	(15)
Net cash provided by (used in) investing activities	(5,781)	(4,445)
Cash flows from financing activities
Net change in debt (original maturities of three months or less)	296	74
Borrowings and issuances of secured debt	13,984	14,676
Payments on secured debt	(14,762)	(14,902)
Borrowings and issuances of unsecured debt	15,367	11,548
Payments on unsecured debt	(9,053)	(7,335)
Debt issuance costs	(112)	(91)
Dividends paid	(959)	(959)
Net cash provided by (used in) financing activities	4,760	3,010
Net increase (decrease) in cash, cash equivalents and restricted cash	2,194	1,976
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	(58)	62
Cash, cash equivalents and restricted cash at beginning of period	8,249	6,676
Cash, cash equivalents and restricted cash at end of period	10,384	8,715
Supplemental Cash Flow Elements [Abstract]
Cash and cash equivalents	7,448
Restricted cash included in other assets	2,937
Total	$ 10,384	$ 8,715

Business and Basis of Presentat

Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Business and Basis of Presentation	Business and Basis of Presentation General Motors Financial Company, Inc. (sometimes referred to as we, us, our, the Company, or GM Financial), the wholly-owned captive finance subsidiary of General Motors Company (GM), is a global provider of automobile finance solutions. We provide retail loan and lease financing across the credit spectrum to support vehicle sales. Additionally, we offer commercial lending products to dealers, including floorplan financing, which is lending to finance new and used vehicle inventory, and dealer loans, which are loans to finance improvements to dealership facilities, to provide working capital, or to purchase and/or finance dealership real estate. 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, 2023, as filed with the Securities and Exchange Commission on January 30, 2024 (2023 Form 10-K). The condensed consolidated financial statements at June 30, 2024, and for the three and six months ended June 30, 2024 and 2023, 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, 2023 was derived from audited annual financial statements. Except as otherwise specified, dollar amounts presented within tables are stated in millions. Certain columns and rows may not add due to rounding.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2024
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 $934 million and $915 million for the three months ended June 30, 2024 and 2023, and $1.7 billion for both the six months ended June 30, 2024 and 2023. 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 in support of commercialization. Advances under this credit agreement are guaranteed by GM Cruise Holdings LLC. At June 30, 2024 and December 31, 2023, Cruise had $395 million and $353 million of borrowings outstanding and access to an additional $3.4 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 the related tax liabilities. During the six months ended June 30, 2024, no payments were made to GM for state and federal income taxes. During the six months ended June 30, 2023, we made payments of $30 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, 2024 December 31, 2023 Commercial finance receivables due from dealers consolidated by GM $ 226 $ 164 Commercial finance receivables due from Cruise $ 395 $ 353 Subvention receivable from GM $ 558 $ 508 Commercial loan funding payable to GM $ 83 $ 55 Taxes payable to GM $ 430 $ 384 Three Months Ended June 30, Six Months Ended June 30, Income Statement Data 2024 2023 2024 2023 Interest subvention earned on retail finance receivables (a) $ 316 $ 280 $ 624 $ 537 Interest subvention earned on commercial finance receivables (a) $ 30 $ 27 $ 57 $ 49 Leased vehicle subvention earned (b) $ 359 $ 389 $ 723 $ 782 _________________ (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. 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, 2024 and December 31, 2023. In March 2024, GM renewed the GM Revolving 364-Day Credit Facility, which now matures on March 27, 2025.

Finance Receivables

Finance Receivables	6 Months Ended
	Jun. 30, 2024
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Finance Receivables	Finance Receivables June 30, 2024 December 31, 2023 Retail finance receivables Retail finance receivables (a) $ 73,335 $ 72,729 Less: allowance for loan losses (2,261) (2,308) Total retail finance receivables, net 71,074 70,421 Commercial finance receivables Commercial finance receivables (a)(b) 17,127 14,251 Less: allowance for loan losses (50) (36) Total commercial finance receivables, net 17,078 14,216 Total finance receivables, net $ 88,151 $ 84,637 Fair value utilizing Level 2 inputs $ 17,078 $ 14,216 Fair value utilizing Level 3 inputs $ 71,552 $ 70,911 ________________ (a) Net of unearned income, unamortized premiums and discounts, and deferred fees and costs. (b) Includes dealer financing of $16.3 billion and $13.4 billion, and other financing of $826 million and $830 million at June 30, 2024 and December 31, 2023. Commercial finance receivables are presented net of dealer cash management balances of $3.0 billion and $2.6 billion at June 30, 2024 and December 31, 2023. 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, 2024 2023 2024 2023 Allowance for retail loan losses beginning balance $ 2,320 $ 2,123 $ 2,308 $ 2,062 Provision for loan losses 159 161 364 298 Charge-offs (411) (323) (816) (645) Recoveries 222 191 434 377 Foreign currency translation and other (28) 14 (30) 74 Allowance for retail loan losses ending balance $ 2,261 $ 2,166 $ 2,261 $ 2,166 The allowance for retail loan losses as a percentage of retail finance receivables was 3.1% and 3.2% at June 30, 2024 and December 31, 2023. 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, 2024 and December 31, 2023: Year of Origination June 30, 2024 2024 2023 2022 2021 2020 Prior Total Percent Prime - FICO Score 680 and greater $ 11,725 $ 19,600 $ 12,532 $ 7,131 $ 3,651 $ 772 $ 55,411 75.6 % Near-prime - FICO Score 620 to 679 1,817 2,701 1,867 1,389 670 291 8,736 11.9 Sub-prime - FICO Score less than 620 1,908 2,553 1,951 1,487 752 539 9,188 12.5 Retail finance receivables $ 15,450 $ 24,854 $ 16,350 $ 10,007 $ 5,073 $ 1,602 $ 73,335 100.0 % Year of Origination December 31, 2023 2023 2022 2021 2020 2019 Prior Total Percent Prime - FICO Score 680 and greater $ 23,940 $ 15,581 $ 9,039 $ 4,926 $ 1,076 $ 320 $ 54,882 75.5 % Near-prime - FICO Score 620 to 679 3,234 2,281 1,746 906 350 129 8,647 11.9 Sub-prime - FICO Score less than 620 3,079 2,397 1,884 1,010 573 257 9,200 12.6 Retail finance receivables $ 30,253 $ 20,259 $ 12,670 $ 6,842 $ 2,000 $ 707 $ 72,729 100.0 % 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, 2024 and December 31, 2023, as well as summary totals for June 30, 2023. The tables also present gross charge offs by vintage for the six months ended June 30, 2024 and the year ended December 31, 2023: Year of Origination June 30, 2024 June 30, 2023 2024 2023 2022 2021 2020 Prior Total Percent Total Percent 0 - 30 days $ 15,306 $ 24,314 $ 15,782 $ 9,551 $ 4,839 $ 1,419 $ 71,211 97.1 % $ 67,957 97.5 % 31 - 60 days 109 383 411 337 175 136 1,551 2.1 1,284 1.8 Greater than 60 days 30 135 138 108 54 44 509 0.7 430 0.6 Finance receivables more than 30 days delinquent 140 518 549 445 229 179 2,060 2.8 1,714 2.5 In repossession 4 22 19 11 5 3 64 0.1 51 0.1 Finance receivables more than 30 days delinquent or in repossession 144 540 567 457 234 182 2,124 2.9 1,765 2.5 Retail finance receivables $ 15,450 $ 24,854 $ 16,350 $ 10,007 $ 5,073 $ 1,602 $ 73,335 100.0 % $ 69,722 100.0 % Gross charge-offs $ 13 $ 262 $ 254 $ 161 $ 68 $ 59 $ 816 Year of Origination December 31, 2023 2023 2022 2021 2020 2019 Prior Total Percent 0 - 30 days $ 29,816 $ 19,602 $ 12,098 $ 6,533 $ 1,825 $ 599 $ 70,472 96.9 % 31 - 60 days 318 470 415 227 130 78 1,637 2.3 Greater than 60 days 102 168 142 76 42 29 559 0.8 Finance receivables more than 30 days delinquent 421 637 557 302 172 107 2,196 3.0 In repossession 17 20 14 6 3 1 61 0.1 Finance receivables more than 30 days delinquent or in repossession 437 657 572 308 175 108 2,257 3.1 Retail finance receivables $ 30,253 $ 20,259 $ 12,670 $ 6,842 $ 2,000 $ 707 $ 72,729 100.0 % Gross charge-offs $ 143 $ 494 $ 399 $ 192 $ 108 $ 87 $ 1,423 The accrual of finance charge income had been suspended on retail finance receivables with contractual amounts due of $774 million and $809 million at June 30, 2024 and December 31, 2023. 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, and we may provide interest rate reductions, principal forgiveness, 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 amortized costs at June 30, 2024 and 2023 of the loans modified during the three and six months ended June 30, 2024 and 2023 were 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, 2024 and 2023. Commercial Credit Quality Our commercial finance receivables consist of dealer financing, primarily for dealer inventory purchases, and other financing, which includes loans to commercial vehicle upfitters, as well as advances to certain GM subsidiaries. For our dealer financing, we use proprietary models to assign a risk rating to each dealer and perform periodic credit reviews of each dealership. We adjust the dealership's risk rating, if necessary. There is limited credit risk associated with other financing due to the structure of the business relationships. Our dealer 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 dealer credit risk profile by dealer risk rating at June 30, 2024 and December 31, 2023: Year of Origination June 30, 2024 Dealer Risk Rating Revolving 2024 2023 2022 2021 2020 Prior Total Percent I $ 14,237 $ 121 $ 243 $ 392 $ 268 $ 286 $ 44 $ 15,591 95.6 % II 332 — 3 22 — 1 — 358 2.2 III 301 4 5 — 24 — 18 352 2.2 IV — — — — — — — — — Balance at end of period $ 14,870 $ 125 $ 251 $ 414 $ 292 $ 287 $ 62 $ 16,301 100.0 % Year of Origination December 31, 2023 Dealer Risk Rating Revolving 2023 2022 2021 2020 2019 Prior Total Percent I $ 11,638 $ 295 $ 417 $ 297 $ 301 $ 85 $ 11 $ 13,043 97.2 % II 182 — 2 2 — — — 187 1.4 III 152 1 15 12 — 11 — 192 1.4 IV — — — — — — — — — Balance at end of period $ 11,971 $ 296 $ 435 $ 311 $ 301 $ 96 $ 11 $ 13,422 100.0 % Floorplan advances comprise 99.4% and 99.7% of the total revolving balances at June 30, 2024 and December 31, 2023. Dealer term loans are presented by year of origination. At June 30, 2024 and December 31, 2023, 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, 2024 and 2023. There were no commercial finance receivables on nonaccrual status at June 30, 2024 and December 31, 2023. There were no charge-offs during the six months ended June 30, 2024, and no loan modifications were extended to borrowers experiencing financial difficulty during the three and six months ended June 30, 2024 and 2023.

Leased Vehicles

Leased Vehicles	6 Months Ended
	Jun. 30, 2024
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Abstract]
Leased Vehicles	Leased Vehicles June 30, 2024 December 31, 2023 Leased vehicles (a) $ 36,993 $ 37,921 Less: accumulated depreciation (6,648) (7,338) Leased vehicles, net $ 30,345 $ 30,582 ________________ (a) Net of vehicle acquisition costs, less manufacturer incentives and investment tax credits. Depreciation expense related to leased vehicles, net was $1.2 billion for both the three months ended June 30, 2024 and 2023 and $2.4 billion and $2.5 billion for the six months ended June 30, 2024 and 2023. The following table summarizes minimum rental payments due to us as lessor under operating leases at June 30, 2024: Years Ending December 31, 2024 2025 2026 2027 2028 Thereafter Total Lease payments under operating leases $ 2,681 $ 4,229 $ 2,317 $ 505 $ 33 $ 2 $ 9,767

Equity in Net Assets of Noncons

Equity in Net Assets of Nonconsolidated Affiliates	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Equity in Net Assets of Nonconsolidated Affiliates	Equity in Net Assets of Nonconsolidated Affiliates We use the equity method to account for our equity interest in joint ventures. Revenue and expenses of our joint ventures are not consolidated into our financial statements; rather, our proportionate share of the earnings of each joint venture is reflected as equity income. There have been no ownership changes in our joint ventures since December 31, 2023. 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 2024 2023 2024 2023 Finance charge income $ 248 $ 352 $ 534 $ 744 Income before income taxes $ 52 $ 141 $ 172 $ 296 Net income $ 39 $ 106 $ 129 $ 222 At June 30, 2024 and December 31, 2023, we had undistributed earnings of $882 million and $837 million related to our nonconsolidated affiliates.

Debt

Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt	Debt June 30, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Secured debt Revolving credit facilities $ 1,693 $ 1,693 $ 4,960 $ 4,960 Securitization notes payable 42,938 42,868 40,284 40,012 Total secured debt 44,630 44,560 45,243 44,971 Unsecured debt Senior notes 54,715 54,473 49,990 49,537 Credit facilities 1,893 1,883 2,034 2,026 Other unsecured debt 8,868 8,915 8,060 8,088 Total unsecured debt 65,476 65,271 60,084 59,651 Total secured and unsecured debt $ 110,106 $ 109,831 $ 105,327 $ 104,622 Fair value utilizing Level 2 inputs $ 107,820 $ 102,262 Fair value utilizing Level 3 inputs $ 2,010 $ 2,360 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, 2024, we renewed credit facilities with a total borrowing capacity of $17.0 billion, and we issued $13.5 billion in aggregate principal amount of securitization notes payable with an initial weighted average interest rate of 5.42% and maturity dates ranging from 2024 to 2036. Unsecured Debt During the six months ended June 30, 2024, we issued $10.7 billion in aggregate principal amount of senior notes with an initial weighted average interest rate of 5.38% and maturity dates ranging from 2027 to 2034. 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, 2024, we were in compliance with these debt covenants.

Variable Interest Entities

Variable Interest Entities	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Variable Interest Entities	Variable Interest Entities Securitizations and Credit Facilities The following table summarizes the assets and liabilities related to our consolidated VIEs: June 30, 2024 December 31, 2023 Restricted cash (a) $ 2,739 $ 2,765 Finance receivables $ 48,574 $ 46,648 Lease related assets $ 15,121 $ 15,794 Secured debt $ 44,708 $ 45,299 _______________ (a) Included in other assets.

Derivative Financial Instrument

Derivative Financial Instruments and Hedging Activities	6 Months Ended
	Jun. 30, 2024
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, 2024 December 31, 2023 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 $ 33,285 $ 4 $ 456 $ 18,379 $ 75 $ 238 Cash flow hedges Interest rate swaps 1,964 21 3 2,381 17 16 Foreign currency swaps 9,054 103 399 8,003 144 311 Derivatives not designated as hedges Interest rate contracts 115,512 1,371 1,831 134,683 1,573 1,997 Total $ 159,814 $ 1,499 $ 2,689 $ 163,446 $ 1,809 $ 2,563 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 June 30, 2024 and December 31, 2023, the fair value of derivative instruments that are classified as assets or liabilities available for offset was $936 million and $1.2 billion. At June 30, 2024 and December 31, 2023, we held $436 million and $457 million of collateral from counterparties that was available for netting against our asset positions. At June 30, 2024 and December 31, 2023, we had $1.3 billion and $1.2 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, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Unsecured debt $ 36,614 $ 33,551 $ 1,220 $ 1,029 _________________ (a) Includes $852 million and $872 million of unamortized losses remaining on hedged items for which hedge accounting has been discontinued at June 30, 2024 and December 31, 2023. 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, 2024 2023 2024 2023 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 $ 62 $ — $ 145 $ — $ 192 $ — $ 116 $ — Interest rate swaps (130) — (165) — (287) — (120) — Cash flow hedges Interest rate swaps 4 — 10 — 11 — 19 — Hedged items - foreign currency swaps (c) — 30 — (64) — 208 — (200) Foreign currency swaps (34) (30) (37) 64 (75) (206) (74) 200 Derivatives not designated as hedges Interest rate contracts 42 — 59 — 75 — 110 — Foreign currency contracts — (2) — — — — — — Total income (loss) recognized $ (56) $ (2) $ 12 $ — $ (84) $ 1 $ 52 $ — _________________ (a) Total interest expense was $1.5 billion and $1.1 billion for the three months ended June 30, 2024 and 2023, and $2.9 billion and $2.1 billion for the six months ended June 30, 2024 and 2023. (b) Total operating expenses were $479 million and $456 million for the three months ended June 30, 2024 and 2023, and $937 million and $899 million for the six months ended June 30, 2024 and 2023. (c) Transaction activity recorded in operating expenses related to foreign currency-denominated debt. 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, 2024 2023 2024 2023 Cash flow hedges Interest rate swaps $ 17 $ (5) $ 26 $ (4) Foreign currency swaps (74) 45 (215) 73 Total $ (57) $ 40 $ (189) $ 70 (Gains) Losses Reclassified From Accumulated Other Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Cash flow hedges Interest rate swaps $ (2) $ (8) $ (7) $ (15) Foreign currency swaps 49 (21) 212 (96) Total $ 48 $ (29) $ 206 $ (111) All amounts reclassified from accumulated other comprehensive income (loss) were recorded to interest expense. During the next 12 months, we estimate an insignificant amount of losses will be reclassified into pre-tax earnings from derivatives designated for hedge accounting.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
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, 2024, we estimated our reasonably possible legal exposure for unfavorable outcomes to be approximately $147 million, and we have accrued $136 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 $173 million at June 30, 2024.

Shareholders' Equity

Shareholders' Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity June 30, 2024 December 31, 2023 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 both the six months ended June 30, 2024 and 2023, our Board of Directors declared and paid dividends of $900 million on our common stock to General Motors Holdings LLC. June 30, 2024 December 31, 2023 Preferred Stock Number of shares authorized 250,000,000 250,000,000 Number of shares issued and outstanding (a) 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 _________________ (a) Issued at a liquidation preference of $1,000 per share. During both the six months ended June 30, 2024 and 2023, 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, 2024, 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, 2024 to holders of record at September 15, 2024. 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, 2024 2023 2024 2023 Unrealized gain (loss) on hedges Beginning balance $ 23 $ (73) $ (3) $ (21) Change in value of hedges, net of tax (9) 11 17 (42) Ending balance 14 (63) 14 (63) Defined benefit plans Beginning balance 1 1 1 1 Unrealized gain (loss) on subsidiary pension — — — — Ending balance 1 1 1 1 Foreign currency translation adjustment Beginning balance (1,270) (1,251) (1,206) (1,351) Translation gain (loss) (159) — (224) 102 Ending balance (1,429) (1,250) (1,429) (1,250) Total accumulated other comprehensive income (loss) $ (1,414) $ (1,312) $ (1,414) $ (1,312)

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
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, 2024
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. 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. 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, 2024 Three Months Ended June 30, 2023 North International Total North International Total Total revenue $ 3,531 $ 387 $ 3,918 $ 3,170 $ 328 $ 3,498 Operating expenses 385 94 479 368 88 456 Leased vehicle expenses 949 23 972 992 18 1,011 Provision for loan losses 150 24 174 135 32 167 Interest expense 1,315 170 1,485 995 139 1,135 Equity income — 14 14 — 37 37 Income before income taxes $ 732 $ 90 $ 822 $ 679 $ 87 $ 766 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 North International Total North International Total Total revenue $ 6,948 $ 781 $ 7,729 $ 6,218 $ 622 $ 6,840 Operating expenses 754 184 937 727 172 899 Leased vehicle expenses 1,973 46 2,019 2,015 35 2,050 Provision for loan losses 321 57 378 249 49 298 Interest expense 2,544 337 2,881 1,872 262 2,134 Equity income — 45 45 — 78 78 Income before income taxes $ 1,355 $ 204 $ 1,559 $ 1,356 $ 181 $ 1,537 June 30, 2024 December 31, 2023 North International Total North International Total Finance receivables, net $ 81,923 $ 6,229 $ 88,151 $ 78,148 $ 6,489 $ 84,637 Leased vehicles, net $ 29,987 $ 358 $ 30,345 $ 30,227 $ 356 $ 30,582 Total assets $ 127,780 $ 9,542 $ 137,322 $ 122,128 $ 9,883 $ 132,011

Regulatory Capital and Other Re

Regulatory Capital and Other Regulatory Matters	6 Months Ended
	Jun. 30, 2024
Regulatory Capital and Other Regulatory Matters [Abstract]
Regulatory Capital and Other Regulatory Matters	Regulatory Capital and Other Regulatory Matters We 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 $7.4 billion and $7.7 billion at June 30, 2024 and December 31, 2023.

Business and Basis of Present_2

Business and Basis of Presentation (Policies)	6 Months Ended
	Jun. 30, 2024
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, 2023, as filed with the Securities and Exchange Commission on January 30, 2024 (2023 Form 10-K). The condensed consolidated financial statements at June 30, 2024, and for the three and six months ended June 30, 2024 and 2023, 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, 2023 was derived from audited annual financial statements. Except as otherwise specified, dollar amounts presented within tables are stated in millions. Certain columns and rows may not add due to rounding.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The following tables present related party transactions: Balance Sheet Data June 30, 2024 December 31, 2023 Commercial finance receivables due from dealers consolidated by GM $ 226 $ 164 Commercial finance receivables due from Cruise $ 395 $ 353 Subvention receivable from GM $ 558 $ 508 Commercial loan funding payable to GM $ 83 $ 55 Taxes payable to GM $ 430 $ 384 Three Months Ended June 30, Six Months Ended June 30, Income Statement Data 2024 2023 2024 2023 Interest subvention earned on retail finance receivables (a) $ 316 $ 280 $ 624 $ 537 Interest subvention earned on commercial finance receivables (a) $ 30 $ 27 $ 57 $ 49 Leased vehicle subvention earned (b) $ 359 $ 389 $ 723 $ 782 _________________ (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, 2024
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Schedule of Finance Receivables, Net	June 30, 2024 December 31, 2023 Retail finance receivables Retail finance receivables (a) $ 73,335 $ 72,729 Less: allowance for loan losses (2,261) (2,308) Total retail finance receivables, net 71,074 70,421 Commercial finance receivables Commercial finance receivables (a)(b) 17,127 14,251 Less: allowance for loan losses (50) (36) Total commercial finance receivables, net 17,078 14,216 Total finance receivables, net $ 88,151 $ 84,637 Fair value utilizing Level 2 inputs $ 17,078 $ 14,216 Fair value utilizing Level 3 inputs $ 71,552 $ 70,911 ________________ (a) Net of unearned income, unamortized premiums and discounts, and deferred fees and costs. (b) Includes dealer financing of $16.3 billion and $13.4 billion, and other financing of $826 million and $830 million at June 30, 2024 and December 31, 2023. Commercial finance receivables are presented net of dealer cash management balances of $3.0 billion and $2.6 billion at June 30, 2024 and December 31, 2023.
Schedule of 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, 2024 2023 2024 2023 Allowance for retail loan losses beginning balance $ 2,320 $ 2,123 $ 2,308 $ 2,062 Provision for loan losses 159 161 364 298 Charge-offs (411) (323) (816) (645) Recoveries 222 191 434 377 Foreign currency translation and other (28) 14 (30) 74 Allowance for retail loan losses ending balance $ 2,261 $ 2,166 $ 2,261 $ 2,166
Schedule of 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, 2024 and December 31, 2023: Year of Origination June 30, 2024 2024 2023 2022 2021 2020 Prior Total Percent Prime - FICO Score 680 and greater $ 11,725 $ 19,600 $ 12,532 $ 7,131 $ 3,651 $ 772 $ 55,411 75.6 % Near-prime - FICO Score 620 to 679 1,817 2,701 1,867 1,389 670 291 8,736 11.9 Sub-prime - FICO Score less than 620 1,908 2,553 1,951 1,487 752 539 9,188 12.5 Retail finance receivables $ 15,450 $ 24,854 $ 16,350 $ 10,007 $ 5,073 $ 1,602 $ 73,335 100.0 % Year of Origination December 31, 2023 2023 2022 2021 2020 2019 Prior Total Percent Prime - FICO Score 680 and greater $ 23,940 $ 15,581 $ 9,039 $ 4,926 $ 1,076 $ 320 $ 54,882 75.5 % Near-prime - FICO Score 620 to 679 3,234 2,281 1,746 906 350 129 8,647 11.9 Sub-prime - FICO Score less than 620 3,079 2,397 1,884 1,010 573 257 9,200 12.6 Retail finance receivables $ 30,253 $ 20,259 $ 12,670 $ 6,842 $ 2,000 $ 707 $ 72,729 100.0 % Our dealer 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, 2024 Dealer Risk Rating Revolving 2024 2023 2022 2021 2020 Prior Total Percent I $ 14,237 $ 121 $ 243 $ 392 $ 268 $ 286 $ 44 $ 15,591 95.6 % II 332 — 3 22 — 1 — 358 2.2 III 301 4 5 — 24 — 18 352 2.2 IV — — — — — — — — — Balance at end of period $ 14,870 $ 125 $ 251 $ 414 $ 292 $ 287 $ 62 $ 16,301 100.0 % Year of Origination December 31, 2023 Dealer Risk Rating Revolving 2023 2022 2021 2020 2019 Prior Total Percent I $ 11,638 $ 295 $ 417 $ 297 $ 301 $ 85 $ 11 $ 13,043 97.2 % II 182 — 2 2 — — — 187 1.4 III 152 1 15 12 — 11 — 192 1.4 IV — — — — — — — — — Balance at end of period $ 11,971 $ 296 $ 435 $ 311 $ 301 $ 96 $ 11 $ 13,422 100.0 %
Schedule of 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, 2024 and December 31, 2023, as well as summary totals for June 30, 2023. The tables also present gross charge offs by vintage for the six months ended June 30, 2024 and the year ended December 31, 2023: Year of Origination June 30, 2024 June 30, 2023 2024 2023 2022 2021 2020 Prior Total Percent Total Percent 0 - 30 days $ 15,306 $ 24,314 $ 15,782 $ 9,551 $ 4,839 $ 1,419 $ 71,211 97.1 % $ 67,957 97.5 % 31 - 60 days 109 383 411 337 175 136 1,551 2.1 1,284 1.8 Greater than 60 days 30 135 138 108 54 44 509 0.7 430 0.6 Finance receivables more than 30 days delinquent 140 518 549 445 229 179 2,060 2.8 1,714 2.5 In repossession 4 22 19 11 5 3 64 0.1 51 0.1 Finance receivables more than 30 days delinquent or in repossession 144 540 567 457 234 182 2,124 2.9 1,765 2.5 Retail finance receivables $ 15,450 $ 24,854 $ 16,350 $ 10,007 $ 5,073 $ 1,602 $ 73,335 100.0 % $ 69,722 100.0 % Gross charge-offs $ 13 $ 262 $ 254 $ 161 $ 68 $ 59 $ 816 Year of Origination December 31, 2023 2023 2022 2021 2020 2019 Prior Total Percent 0 - 30 days $ 29,816 $ 19,602 $ 12,098 $ 6,533 $ 1,825 $ 599 $ 70,472 96.9 % 31 - 60 days 318 470 415 227 130 78 1,637 2.3 Greater than 60 days 102 168 142 76 42 29 559 0.8 Finance receivables more than 30 days delinquent 421 637 557 302 172 107 2,196 3.0 In repossession 17 20 14 6 3 1 61 0.1 Finance receivables more than 30 days delinquent or in repossession 437 657 572 308 175 108 2,257 3.1 Retail finance receivables $ 30,253 $ 20,259 $ 12,670 $ 6,842 $ 2,000 $ 707 $ 72,729 100.0 % Gross charge-offs $ 143 $ 494 $ 399 $ 192 $ 108 $ 87 $ 1,423

Leased Vehicles (Tables)

Leased Vehicles (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Abstract]
Schedule of Leased Vehicles	June 30, 2024 December 31, 2023 Leased vehicles (a) $ 36,993 $ 37,921 Less: accumulated depreciation (6,648) (7,338) Leased vehicles, net $ 30,345 $ 30,582 ________________ (a) Net of vehicle acquisition costs, less manufacturer incentives and investment tax credits.
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, 2024: Years Ending December 31, 2024 2025 2026 2027 2028 Thereafter Total Lease payments under operating leases $ 2,681 $ 4,229 $ 2,317 $ 505 $ 33 $ 2 $ 9,767

Equity in Net Assets of Nonco_2

Equity in Net Assets of Nonconsolidated Affiliates (Tables)	6 Months Ended
	Jun. 30, 2024
Noncontrolling Interest [Abstract]
Schedule of Financial Information for our Joint Ventures	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 2024 2023 2024 2023 Finance charge income $ 248 $ 352 $ 534 $ 744 Income before income taxes $ 52 $ 141 $ 172 $ 296 Net income $ 39 $ 106 $ 129 $ 222

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	June 30, 2024 December 31, 2023 Carrying Amount Fair Value Carrying Amount Fair Value Secured debt Revolving credit facilities $ 1,693 $ 1,693 $ 4,960 $ 4,960 Securitization notes payable 42,938 42,868 40,284 40,012 Total secured debt 44,630 44,560 45,243 44,971 Unsecured debt Senior notes 54,715 54,473 49,990 49,537 Credit facilities 1,893 1,883 2,034 2,026 Other unsecured debt 8,868 8,915 8,060 8,088 Total unsecured debt 65,476 65,271 60,084 59,651 Total secured and unsecured debt $ 110,106 $ 109,831 $ 105,327 $ 104,622 Fair value utilizing Level 2 inputs $ 107,820 $ 102,262 Fair value utilizing Level 3 inputs $ 2,010 $ 2,360

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 December 31, 2023 Restricted cash (a) $ 2,739 $ 2,765 Finance receivables $ 48,574 $ 46,648 Lease related assets $ 15,121 $ 15,794 Secured debt $ 44,708 $ 45,299 _______________ (a) Included in other assets.

Derivative Financial Instrume_2

Derivative Financial Instruments and Hedging Activities (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 December 31, 2023 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 $ 33,285 $ 4 $ 456 $ 18,379 $ 75 $ 238 Cash flow hedges Interest rate swaps 1,964 21 3 2,381 17 16 Foreign currency swaps 9,054 103 399 8,003 144 311 Derivatives not designated as hedges Interest rate contracts 115,512 1,371 1,831 134,683 1,573 1,997 Total $ 159,814 $ 1,499 $ 2,689 $ 163,446 $ 1,809 $ 2,563
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, 2024 December 31, 2023 June 30, 2024 December 31, 2023 Unsecured debt $ 36,614 $ 33,551 $ 1,220 $ 1,029 _________________ (a) Includes $852 million and $872 million of unamortized losses remaining on hedged items for which hedge accounting has been discontinued at June 30, 2024 and December 31, 2023.
Schedule of 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, 2024 2023 2024 2023 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 $ 62 $ — $ 145 $ — $ 192 $ — $ 116 $ — Interest rate swaps (130) — (165) — (287) — (120) — Cash flow hedges Interest rate swaps 4 — 10 — 11 — 19 — Hedged items - foreign currency swaps (c) — 30 — (64) — 208 — (200) Foreign currency swaps (34) (30) (37) 64 (75) (206) (74) 200 Derivatives not designated as hedges Interest rate contracts 42 — 59 — 75 — 110 — Foreign currency contracts — (2) — — — — — — Total income (loss) recognized $ (56) $ (2) $ 12 $ — $ (84) $ 1 $ 52 $ — _________________ (a) Total interest expense was $1.5 billion and $1.1 billion for the three months ended June 30, 2024 and 2023, and $2.9 billion and $2.1 billion for the six months ended June 30, 2024 and 2023. (b) Total operating expenses were $479 million and $456 million for the three months ended June 30, 2024 and 2023, and $937 million and $899 million for the six months ended June 30, 2024 and 2023. (c) Transaction activity recorded in operating expenses related to foreign currency-denominated debt. 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, 2024 2023 2024 2023 Cash flow hedges Interest rate swaps $ 17 $ (5) $ 26 $ (4) Foreign currency swaps (74) 45 (215) 73 Total $ (57) $ 40 $ (189) $ 70 (Gains) Losses Reclassified From Accumulated Other Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Cash flow hedges Interest rate swaps $ (2) $ (8) $ (7) $ (15) Foreign currency swaps 49 (21) 212 (96) Total $ 48 $ (29) $ 206 $ (111)

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Schedule of Common and Preferred Stock	June 30, 2024 December 31, 2023 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 both the six months ended June 30, 2024 and 2023, our Board of Directors declared and paid dividends of $900 million on our common stock to General Motors Holdings LLC. June 30, 2024 December 31, 2023 Preferred Stock Number of shares authorized 250,000,000 250,000,000 Number of shares issued and outstanding (a) 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 _________________ (a) Issued at a liquidation preference of $1,000 per share.
Schedule of Accumulated Other Comprehensive Income (Loss)	The following table summarizes the significant components of accumulated other comprehensive income (loss): Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Unrealized gain (loss) on hedges Beginning balance $ 23 $ (73) $ (3) $ (21) Change in value of hedges, net of tax (9) 11 17 (42) Ending balance 14 (63) 14 (63) Defined benefit plans Beginning balance 1 1 1 1 Unrealized gain (loss) on subsidiary pension — — — — Ending balance 1 1 1 1 Foreign currency translation adjustment Beginning balance (1,270) (1,251) (1,206) (1,351) Translation gain (loss) (159) — (224) 102 Ending balance (1,429) (1,250) (1,429) (1,250) Total accumulated other comprehensive income (loss) $ (1,414) $ (1,312) $ (1,414) $ (1,312)

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2024
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, 2024 Three Months Ended June 30, 2023 North International Total North International Total Total revenue $ 3,531 $ 387 $ 3,918 $ 3,170 $ 328 $ 3,498 Operating expenses 385 94 479 368 88 456 Leased vehicle expenses 949 23 972 992 18 1,011 Provision for loan losses 150 24 174 135 32 167 Interest expense 1,315 170 1,485 995 139 1,135 Equity income — 14 14 — 37 37 Income before income taxes $ 732 $ 90 $ 822 $ 679 $ 87 $ 766 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 North International Total North International Total Total revenue $ 6,948 $ 781 $ 7,729 $ 6,218 $ 622 $ 6,840 Operating expenses 754 184 937 727 172 899 Leased vehicle expenses 1,973 46 2,019 2,015 35 2,050 Provision for loan losses 321 57 378 249 49 298 Interest expense 2,544 337 2,881 1,872 262 2,134 Equity income — 45 45 — 78 78 Income before income taxes $ 1,355 $ 204 $ 1,559 $ 1,356 $ 181 $ 1,537 June 30, 2024 December 31, 2023 North International Total North International Total Finance receivables, net $ 81,923 $ 6,229 $ 88,151 $ 78,148 $ 6,489 $ 84,637 Leased vehicles, net $ 29,987 $ 358 $ 30,345 $ 30,227 $ 356 $ 30,582 Total assets $ 127,780 $ 9,542 $ 137,322 $ 122,128 $ 9,883 $ 132,011

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party Transaction [Line Items]
Revenues		$ 3,918,000,000	$ 3,498,000,000	$ 7,729,000,000	$ 6,840,000,000
Related party tax payment				$ 0	30,000,000
Line of Credit | General Motors | Five Year Revolving Credit Facility
Related Party Transaction [Line Items]
Debt instrument term				5 years
Current borrowing capacity		10,000,000,000		$ 10,000,000,000
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		17,000,000,000		17,000,000,000
Revolving Credit Facility | Line of Credit | Cruise
Related Party Transaction [Line Items]
Maximum borrowing capacity		3,400,000,000		3,400,000,000		$ 3,400,000,000
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]
Debt instrument term				3 years
Current borrowing capacity		4,100,000,000		$ 4,100,000,000
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
Revolving Credit Facility | Commercial Finance Receivables | Line of Credit | Cruise
Related Party Transaction [Line Items]
Commercial finance receivables due from cruise		395,000,000		$ 395,000,000		$ 353,000,000
Junior Subordinated Revolving Credit Facility | General Motors
Related Party Transaction [Line Items]
Line of credit facilities - GM related party facility		1,000,000,000		1,000,000,000
GM
Related Party Transaction [Line Items]
Revenues		$ 934,000,000	$ 915,000,000	$ 1,700,000,000	$ 1,700,000,000

Related Party Transactions - Tr

Related Party Transactions - Transactions (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Related Party
Related Party Transaction [Line Items]
Subvention receivable from GM	$ 558		$ 558		$ 508
Taxes payable to GM	430		430		384
Leased vehicle subvention earned	359	$ 389	723	$ 782
Commercial Finance Receivables
Related Party Transaction [Line Items]
Commercial finance receivables due from dealers consolidated by GM	17,127		17,127		14,251
Commercial Finance Receivables | Revolving Credit Facility | Line of Credit | Cruise
Related Party Transaction [Line Items]
Commercial finance receivables due from Cruise	395		395		353
Commercial Finance Receivables | Related Party
Related Party Transaction [Line Items]
Commercial finance receivables due from dealers consolidated by GM	226		226		164
Commercial loan funding payable to GM	83		83		55
Interest subvention earned	30	27	57	49
Retail Finance Receivables
Related Party Transaction [Line Items]
Commercial finance receivables due from dealers consolidated by GM	73,335	69,722	73,335	69,722	$ 72,729
Retail Finance Receivables | Related Party
Related Party Transaction [Line Items]
Interest subvention earned	$ 316	$ 280	$ 624	$ 537

Finance Receivables - Schedule

Finance Receivables - Schedule of Finance Receivables, Net (Details) - USD ($) $ in Millions	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Less: allowance for loan losses	$ (2,311)		$ (2,344)
Total finance receivables, net	88,151		84,637
Level 2
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value utilizing inputs	17,078		14,216
Level 3
Accounts, Notes, Loans and Financing Receivable [Line Items]
Fair value utilizing inputs	71,552		70,911
Retail finance receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables	73,335		72,729	$ 69,722
Less: allowance for loan losses	(2,261)	$ (2,320)	(2,308)	$ (2,166)	$ (2,123)	$ (2,062)
Total finance receivables, net	71,074		70,421
Commercial finance receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables	17,127		14,251
Less: allowance for loan losses	(50)		(36)
Total finance receivables, net	17,078		14,216
Dealer cash management balances	3,000		2,600
Commercial finance receivables | Dealer Financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables	16,301		13,422
Commercial finance receivables | Other Financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Finance receivables	$ 826		$ 830

Finance Receivables - Schedul_2

Finance Receivables - Schedule of Allowance for Credit Losses on Financing Receivables (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for retail loan losses beginning balance			$ 2,344
Charge-offs			(816)		$ (1,423)
Allowance for retail loan losses ending balance	$ 2,311		2,311		2,344
Retail Finance Receivables
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Allowance for retail loan losses beginning balance	2,320	$ 2,123	2,308	$ 2,062	2,062
Provision for loan losses	159	161	364	298
Charge-offs	(411)	(323)	(816)	(645)
Recoveries	222	191	434	377
Foreign currency translation and other	(28)	14	(30)	74
Allowance for retail loan losses ending balance	$ 2,261	$ 2,166	$ 2,261	$ 2,166	$ 2,308

Finance Receivables - Narrative

Finance Receivables - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Charge-offs			$ 816		$ 1,423
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	$ 774		$ 774		$ 809
Charge-offs	411	$ 323	816	$ 645
Commercial Finance Receivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Nonaccrual loans	0		0		$ 0
Charge-offs			0
Loan modifications	$ 0	$ 0	$ 0	$ 0
Commercial Finance Receivables | Floorplan Advances
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percent of revolving balance	99.40%		99.40%		99.70%

Finance Receivables - Schedul_3

Finance Receivables - Schedule of Financing Receivable Credit Quality Indicators (Details) - Retail Finance Receivables - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
2024	$ 15,450	$ 30,253
2023	24,854	20,259
2022	16,350	12,670
2021	10,007	6,842
2020	5,073	2,000
Prior	1,602	707
Total	$ 73,335	$ 72,729	$ 69,722
Percent	100%	100%
Prime - FICO Score 680 and greater
Financing Receivable, Credit Quality Indicator [Line Items]
2024	$ 11,725	$ 23,940
2023	19,600	15,581
2022	12,532	9,039
2021	7,131	4,926
2020	3,651	1,076
Prior	772	320
Total	$ 55,411	$ 54,882
Percent	75.60%	75.50%
Near-prime - FICO Score 620 to 679
Financing Receivable, Credit Quality Indicator [Line Items]
2024	$ 1,817	$ 3,234
2023	2,701	2,281
2022	1,867	1,746
2021	1,389	906
2020	670	350
Prior	291	129
Total	$ 8,736	$ 8,647
Percent	11.90%	11.90%
Sub-prime - FICO Score less than 620
Financing Receivable, Credit Quality Indicator [Line Items]
2024	$ 1,908	$ 3,079
2023	2,553	2,397
2022	1,951	1,884
2021	1,487	1,010
2020	752	573
Prior	539	257
Total	$ 9,188	$ 9,200
Percent	12.50%	12.60%

Finance Receivables - Delinquen

Finance Receivables - Delinquency (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Gross charge-offs
2024			$ 13		$ 143
2023			262		494
2022			254		399
2021			161		192
2020			68		108
Prior			59		87
Total			816		1,423
Retail Finance Receivables
Financing Receivable, Past Due [Line Items]
2024	$ 15,450		15,450		30,253
2023	24,854		24,854		20,259
2022	16,350		16,350		12,670
2021	10,007		10,007		6,842
2020	5,073		5,073		2,000
Prior	1,602		1,602		707
Total	$ 73,335	$ 69,722	$ 73,335	$ 69,722	$ 72,729
Percent of portfolio	100%	100%	100%	100%	100%
Gross charge-offs
Total	$ 411	$ 323	$ 816	$ 645
Retail Finance Receivables | Performing Financial Instruments | 0 - 30 days
Financing Receivable, Past Due [Line Items]
2024	15,306		15,306		$ 29,816
2023	24,314		24,314		19,602
2022	15,782		15,782		12,098
2021	9,551		9,551		6,533
2020	4,839		4,839		1,825
Prior	1,419		1,419		599
Total	$ 71,211	$ 67,957	$ 71,211	$ 67,957	$ 70,472
Percent of portfolio	97.10%	97.50%	97.10%	97.50%	96.90%
Retail Finance Receivables | Nonperforming Financial Instruments | 31 - 60 days
Financing Receivable, Past Due [Line Items]
2024	$ 109		$ 109		$ 318
2023	383		383		470
2022	411		411		415
2021	337		337		227
2020	175		175		130
Prior	136		136		78
Total	$ 1,551	$ 1,284	$ 1,551	$ 1,284	$ 1,637
Percent of portfolio	2.10%	1.80%	2.10%	1.80%	2.30%
Retail Finance Receivables | Nonperforming Financial Instruments | Greater than 60 days
Financing Receivable, Past Due [Line Items]
2024	$ 30		$ 30		$ 102
2023	135		135		168
2022	138		138		142
2021	108		108		76
2020	54		54		42
Prior	44		44		29
Total	$ 509	$ 430	$ 509	$ 430	$ 559
Percent of portfolio	0.70%	0.60%	0.70%	0.60%	0.80%
Retail Finance Receivables | Nonperforming Financial Instruments | Finance receivables more than 30 days delinquent
Financing Receivable, Past Due [Line Items]
2024	$ 140		$ 140		$ 421
2023	518		518		637
2022	549		549		557
2021	445		445		302
2020	229		229		172
Prior	179		179		107
Total	$ 2,060	$ 1,714	$ 2,060	$ 1,714	$ 2,196
Percent of portfolio	2.80%	2.50%	2.80%	2.50%	3%
Retail Finance Receivables | Nonperforming Financial Instruments | In repossession
Financing Receivable, Past Due [Line Items]
2024	$ 4		$ 4		$ 17
2023	22		22		20
2022	19		19		14
2021	11		11		6
2020	5		5		3
Prior	3		3		1
Total	$ 64	$ 51	$ 64	$ 51	$ 61
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]
2024	$ 144		$ 144		$ 437
2023	540		540		657
2022	567		567		572
2021	457		457		308
2020	234		234		175
Prior	182		182		108
Total	$ 2,124	$ 1,765	$ 2,124	$ 1,765	$ 2,257
Percent of portfolio	2.90%	2.50%	2.90%	2.50%	3.10%

Finance Receivables - Schedul_4

Finance Receivables - Schedule of Credit Risk Profile by Dealer (Details) - Commercial Finance Receivables - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total	$ 17,127	$ 14,251
Dealer Financing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	14,870	11,971
2024	125	296
2023	251	435
2022	414	311
2021	292	301
2020	287	96
Prior	62	11
Total	$ 16,301	$ 13,422
Percent	100%	100%
Dealer Financing | Group I - Performing accounts with strong to acceptable financial metrics
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 14,237	$ 11,638
2024	121	295
2023	243	417
2022	392	297
2021	268	301
2020	286	85
Prior	44	11
Total	$ 15,591	$ 13,043
Percent	95.60%	97.20%
Dealer Financing | Group II - Performing accounts experiencing potential weakness in financial metrics
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 332	$ 182
2024	0	0
2023	3	2
2022	22	2
2021	0	0
2020	1	0
Prior	0	0
Total	$ 358	$ 187
Percent	2.20%	1.40%
Dealer Financing | Group III - Non-Performing accounts with inadequate paying capacity for current obligations
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revolving	$ 301	$ 152
2024	4	1
2023	5	15
2022	0	12
2021	24	0
2020	0	11
Prior	18	0
Total	$ 352	$ 192
Percent	2.20%	1.40%
Dealer Financing | 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
2024	0	0
2023	0	0
2022	0	0
2021	0	0
2020	0	0
Prior	0	0
Total	$ 0	$ 0
Percent	0%	0%

Leased Vehicles - Schedule of L

Leased Vehicles - Schedule of Leased Vehicles (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Abstract]
Leased vehicles	$ 36,993		$ 36,993		$ 37,921
Less: accumulated depreciation	(6,648)		(6,648)		(7,338)
Leased vehicles, net	30,345		30,345		$ 30,582
Depreciation expense	$ 1,200	$ 1,200	$ 2,400	$ 2,500

Leased Vehicles - Minimum Renta

Leased Vehicles - Minimum Rental Payments (Details) $ in Millions	Jun. 30, 2024 USD ($)
Property, Plant, and Equipment, Lessor Asset under Operating Lease [Abstract]
2024	$ 2,681
2025	4,229
2026	2,317
2027	505
2028	33
Thereafter	2
Total	$ 9,767

Equity in Net Assets of Nonco_3

Equity in Net Assets of Nonconsolidated Affiliates (Details) - USD ($) $ in Millions	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Noncontrolling Interest [Line Items]
Finance charge income	$ 1,876		$ 1,490		$ 3,662	$ 2,859
Income before income taxes	822		766		1,559	1,537
Net income	610	$ 536	571	$ 584	1,147	1,155
Joint Ventures
Noncontrolling Interest [Line Items]
Finance charge income	248		352		534	744
Income before income taxes	52		141		172	296
Net income	39		$ 106		129	$ 222
Undistributed earnings	$ 882				$ 882		$ 837

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Short Term and Long Term Debt [Line Items]
Secured debt, carrying amount	$ 44,630	$ 45,243
Unsecured debt, carrying amount	65,476	60,084
Total secured and unsecured debt, carrying amount	110,106	105,327
Secured debt fair value	44,560	44,971
Unsecured debt fair value	65,271	59,651
Fair value of Secured and Unsecured debt	109,831	104,622
Level 2
Short Term and Long Term Debt [Line Items]
Fair value of Secured and Unsecured debt	107,820	102,262
Level 3
Short Term and Long Term Debt [Line Items]
Fair value of Secured and Unsecured debt	2,010	2,360
Revolving credit facilities
Short Term and Long Term Debt [Line Items]
Secured debt, carrying amount	1,693	4,960
Unsecured debt, carrying amount	1,893	2,034
Secured debt fair value	1,693	4,960
Unsecured debt fair value	1,883	2,026
Securitization notes payable
Short Term and Long Term Debt [Line Items]
Secured debt, carrying amount	42,938	40,284
Secured debt fair value	42,868	40,012
Senior notes
Short Term and Long Term Debt [Line Items]
Unsecured debt, carrying amount	54,715	49,990
Unsecured debt fair value	54,473	49,537
Other unsecured debt
Short Term and Long Term Debt [Line Items]
Unsecured debt, carrying amount	8,868	8,060
Unsecured debt fair value	$ 8,915	$ 8,088

Debt - Narrative (Details)

Debt - Narrative (Details) $ in Billions	Jun. 30, 2024 USD ($)
Securitization Notes Payable | Secured Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 13.5
Weighted average interest rate	5.42%
Senior Notes | Senior Notes
Debt Instrument [Line Items]
Debt instrument, face amount	$ 10.7
Weighted average interest rate	5.38%
Revolving Credit Facility
Debt Instrument [Line Items]
Renewed borrowing capacity	$ 17

Variable Interest Entities (Det

Variable Interest Entities (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Variable Interest Entity [Line Items]
Restricted cash	$ 2,937
Finance receivables	88,151	$ 84,637
Lease related assets	30,345	30,582
Secured debt	44,630	45,243
Securitization and Credit Facility VIEs
Variable Interest Entity [Line Items]
Restricted cash	2,739	2,765
Finance receivables	48,574	46,648
Lease related assets	15,121	15,794
Secured debt	$ 44,708	$ 45,299

Derivative Financial Instrume_3

Derivative Financial Instruments and Hedging Activities - Fair Value (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Notional	$ 159,814	$ 163,446
Fair Value of Assets	1,499	1,809
Fair Value of Liabilities	2,689	2,563
Fair value of assets (liabilities) available for offset	936	1,200
Other Liabilities
Derivatives, Fair Value [Line Items]
Collateral held for netting against asset positions	436	457
Other Assets
Derivatives, Fair Value [Line Items]
Collateral available for netting against liability positions	1,300	1,200
Interest rate swaps | Fair value hedges | Level 2 | Derivatives designated as hedges
Derivatives, Fair Value [Line Items]
Notional	33,285	18,379
Fair Value of Assets	4	75
Fair Value of Liabilities	456	238
Interest rate swaps | Cash flow hedges | Level 2 | Derivatives designated as hedges
Derivatives, Fair Value [Line Items]
Notional	1,964	2,381
Fair Value of Assets	21	17
Fair Value of Liabilities	3	16
Foreign currency swaps | Cash flow hedges | Level 2 | Derivatives designated as hedges
Derivatives, Fair Value [Line Items]
Notional	9,054	8,003
Fair Value of Assets	103	144
Fair Value of Liabilities	399	311
Interest rate contracts | Level 2 | Derivatives not designated as hedges
Derivatives, Fair Value [Line Items]
Notional	115,512	134,683
Fair Value of Assets	1,371	1,573
Fair Value of Liabilities	$ 1,831	$ 1,997

Derivative Financial Instrume_4

Derivative Financial Instruments and Hedging Activities - Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
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	$ 36,614	$ 33,551
Cumulative Amount of Fair Value Hedging Adjustments	1,220	1,029
Discontinued hedge cumulative amount of fair value hedging adjustments	$ 852	$ 872

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, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Derivatives, Fair Value [Line Items]
Interest expense	$ 1,485	$ 1,135	$ 2,881	$ 2,134
Operating expenses	479	456	937	899
AOCI Attributable to Parent
Derivatives, Fair Value [Line Items]
Gains (Losses) Recognized In Accumulated Other Comprehensive Income (Loss)	(57)	40	(189)	70
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income (Loss) Into Income (Loss)	48	(29)	206	(111)
Interest Expense
Derivatives, Fair Value [Line Items]
Total income (loss) recognized	(56)	12	(84)	52
Operating Expense
Derivatives, Fair Value [Line Items]
Total income (loss) recognized	(2)	0	1	0
Interest rate swaps | Fair value hedges | Derivatives designated as hedges | Interest Expense
Derivatives, Fair Value [Line Items]
Hedged items	62	145	192	116
Interest rate swaps and Foreign currency swaps	(130)	(165)	(287)	(120)
Interest rate swaps | Fair value hedges | Derivatives designated as hedges | Operating Expense
Derivatives, Fair Value [Line Items]
Hedged items	0	0	0	0
Interest rate swaps and Foreign currency swaps	0	0	0	0
Interest rate swaps | Cash flow hedges | Unrealized gain (loss) on hedges
Derivatives, Fair Value [Line Items]
Gains (Losses) Recognized In Accumulated Other Comprehensive Income (Loss)	17	(5)	26	(4)
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income (Loss) Into Income (Loss)	(2)	(8)	(7)	(15)
Interest rate swaps | Cash flow hedges | Derivatives designated as hedges | Interest Expense
Derivatives, Fair Value [Line Items]
Interest rate swaps and Foreign currency swaps	4	10	11	19
Interest rate swaps | Cash flow hedges | Derivatives designated as hedges | Operating Expense
Derivatives, Fair Value [Line Items]
Interest rate swaps and Foreign currency swaps	0	0	0	0
Foreign currency swaps | Cash flow hedges | Foreign currency translation adjustment
Derivatives, Fair Value [Line Items]
Gains (Losses) Recognized In Accumulated Other Comprehensive Income (Loss)	(74)	45	(215)	73
(Gains) Losses Reclassified From Accumulated Other Comprehensive Income (Loss) Into Income (Loss)	49	(21)	212	(96)
Foreign currency swaps | Cash flow hedges | Derivatives designated as hedges | Interest Expense
Derivatives, Fair Value [Line Items]
Hedged items	0	0	0	0
Interest rate swaps and Foreign currency swaps	(34)	(37)	(75)	(74)
Foreign currency swaps | Cash flow hedges | Derivatives designated as hedges | Operating Expense
Derivatives, Fair Value [Line Items]
Hedged items	30	(64)	208	(200)
Interest rate swaps and Foreign currency swaps	(30)	64	(206)	200
Interest rate contracts | Derivatives not designated as hedges | Interest Expense
Derivatives, Fair Value [Line Items]
Interest rate contracts	42	59	75	110
Interest rate contracts | Derivatives not designated as hedges | Operating Expense
Derivatives, Fair Value [Line Items]
Interest rate contracts	0	0	0	0
Foreign currency contracts | Derivatives not designated as hedges | Interest Expense
Derivatives, Fair Value [Line Items]
Foreign currency contracts	0	0	0	0
Foreign currency contracts | Derivatives not designated as hedges | Operating Expense
Derivatives, Fair Value [Line Items]
Foreign currency contracts	$ (2)	$ 0	$ 0	$ 0

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Jun. 30, 2024 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Estimate of possible loss	$ 147
Loss accrual	136
Indirect tax contingency	$ 173

Shareholders' Equity - Schedule

Shareholders' Equity - Schedule of Common and Preferred Stock (Details) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, shares issued (in shares)	5,050,000	5,050,000
Common stock, shares outstanding (in shares)	5,050,000	5,050,000
Preferred stock, shares authorized (in shares)	250,000,000	250,000,000
Liquidation preference (in dollars per share)	$ 1,000	$ 1,000
Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock, Series A (Series A Preferred Stock)
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)	1,000,000	1,000,000
Preferred stock, shares outstanding (in shares)	1,000,000	1,000,000
Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock, Series B (Series B Preferred Stock)
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)	500,000	500,000
Preferred stock, shares outstanding (in shares)	500,000	500,000
Fixed-Rate Reset Cumulative Perpetual Preferred Stock, Series C (Series C Preferred Stock)
Class of Stock [Line Items]
Preferred stock, shares issued (in shares)	500,000	500,000
Preferred stock, shares outstanding (in shares)	500,000	500,000

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions		3 Months Ended		6 Months Ended
	Jun. 21, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Class of Stock [Line Items]
Common stock dividends declared and paid				$ 900	$ 900
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 - Schedu_2

Shareholders' Equity - Schedule of Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	$ 15,596	$ 15,201	$ 15,542	$ 15,010
Balance at end of period	15,538	15,284	15,538	15,284
Accumulated Other Comprehensive Income (Loss)
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	(1,246)	(1,323)	(1,208)	(1,373)
Balance at end of period	(1,414)	(1,312)	(1,414)	(1,312)
Unrealized gain (loss) on hedges
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	23	(73)	(3)	(21)
Other comprehensive income (loss), net of tax	(9)	11	17	(42)
Balance at end of period	14	(63)	14	(63)
Defined benefit plans
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	1	1	1	1
Other comprehensive income (loss), net of tax	0	0	0	0
Balance at end of period	1	1	1	1
Foreign currency translation adjustment
Changes in Accumulated Other Comprehensive Income [Roll Forward]
Balance at beginning of period	(1,270)	(1,251)	(1,206)	(1,351)
Other comprehensive income (loss), net of tax	(159)	0	(224)	102
Balance at end of period	$ (1,429)	$ (1,250)	$ (1,429)	$ (1,250)

Segment Reporting - Revenue (De

Segment Reporting - Revenue (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 3,918	$ 3,498	$ 7,729	$ 6,840
Operating expenses	479	456	937	899
Leased vehicle expenses	972	1,011	2,019	2,050
Provision for loan losses	174	167	378	298
Interest expense	1,485	1,135	2,881	2,134
Equity income	14	37	45	78
Income before income taxes	822	766	1,559	1,537
North America
Segment Reporting Information [Line Items]
Total revenue	3,531	3,170	6,948	6,218
Operating expenses	385	368	754	727
Leased vehicle expenses	949	992	1,973	2,015
Provision for loan losses	150	135	321	249
Interest expense	1,315	995	2,544	1,872
Equity income	0	0	0	0
Income before income taxes	732	679	1,355	1,356
International
Segment Reporting Information [Line Items]
Total revenue	387	328	781	622
Operating expenses	94	88	184	172
Leased vehicle expenses	23	18	46	35
Provision for loan losses	24	32	57	49
Interest expense	170	139	337	262
Equity income	14	37	45	78
Income before income taxes	$ 90	$ 87	$ 204	$ 181

Segment Reporting - Assets (Det

Segment Reporting - Assets (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Segment Reporting Information [Line Items]
Finance receivables	$ 88,151	$ 84,637
Leased vehicles, net	30,345	30,582
Total assets	137,322	132,011
North America
Segment Reporting Information [Line Items]
Finance receivables	81,923	78,148
Leased vehicles, net	29,987	30,227
Total assets	127,780	122,128
International
Segment Reporting Information [Line Items]
Finance receivables	6,229	6,489
Leased vehicles, net	358	356
Total assets	$ 9,542	$ 9,883

Regulatory Capital and Other _2

Regulatory Capital and Other Regulatory Matters (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Capital Requirements on Foreign Financial Institutions [Line Items]
Assets	$ 137,322	$ 132,011
International Regulated Bank and Finance Companies
Capital Requirements on Foreign Financial Institutions [Line Items]
Assets	$ 7,400	$ 7,700