Finance Receivables and Loans, Net

6 Months Ended

Jun. 30, 2023

Receivables [Abstract]

Finance Receivables and Loans, Net

Finance Receivables and Loans, Net

The composition of finance receivables and loans reported at amortized cost basis was as follows.

($ in millions)	June 30, 2023		December 31, 2022
Consumer automotive (a)	$	84,294	$	83,286
Consumer mortgage
Mortgage Finance (b)	18,894		19,445
Mortgage — Legacy (c)	255		290
Total consumer mortgage	19,149		19,735
Consumer other
Personal Lending (d)	2,170		1,990
Credit Card	1,757		1,599
Total consumer other	3,927		3,589
Total consumer	107,370		106,610
Commercial
Commercial and industrial
Automotive	16,293		14,595
Other	9,124		9,154
Commercial real estate	5,662		5,389
Total commercial	31,079		29,138
Total finance receivables and loans (e) (f)	$	138,449	$	135,748

(a)Certain finance receivables and loans are included in fair value hedging relationships. Refer to Note 18 for additional information.

(b)Includes loans originated as interest-only mortgage loans of $2 million and $3 million at June 30, 2023, and December 31, 2022, respectively, of which all have exited the interest-only period.

(c)Includes loans originated as interest-only mortgage loans of $15 million and $17 million at June 30, 2023, and December 31, 2022, respectively, of which all have exited the interest-only period.

(d)Includes $3 million of finance receivables at December 31, 2022, for which we have elected the fair value option.

(e)Totals include net unearned income, unamortized premiums and discounts, and deferred fees and costs of $2.3 billion at both June 30, 2023, and December 31, 2022.

(f)Totals do not include accrued interest receivable, which was $763 million and $707 million at June 30, 2023, and December 31, 2022, respectively. Accrued interest receivable is included in other assets on our Condensed Consolidated Balance Sheet. Billed interest on our credit card loans is included within finance receivables and loans, net.

The following tables present an analysis of the activity in the allowance for loan losses on finance receivables and loans for the three months and six months ended June 30, 2023, and 2022, respectively.

Three months ended June 30, 2023 ($ in millions)	Consumer automotive		Consumer mortgage		Consumer other (a)		Commercial		Total
Allowance at April 1, 2023	$	3,022	$	23	$	455	$	251	$	3,751
Charge-offs (b)	(496)		(2)		(70)		(61)		(629)
Recoveries	219		3		7		1		230
Net charge-offs	(277)		1		(63)		(60)		(399)
Provision for credit losses (c)	320		(2)		84		27		429
Other	(1)		1		—		—		—
Allowance at June 30, 2023	$	3,064	$	23	$	476	$	218	$	3,781

(a)Excludes $2 million of finance receivables and loans at April 1, 2023, for which we have elected the fair value option and incorporate no allowance for loan losses.

(b)Refer to Note 1 to the Consolidated Financial Statements in our 2022 Annual Report on Form 10-K for information regarding our charge-off policies.

(c)Excludes $2 million of benefit for credit losses related to our reserve for unfunded commitments. The liability related to the reserve for unfunded commitments is included in accrued expenses and other liabilities on our Condensed Consolidated Balance Sheet.

Six months ended June 30, 2023 ($ in millions)	Consumer automotive		Consumer mortgage		Consumer other (a)		Commercial		Total
Allowance at January 1, 2023	$	3,020	$	27	$	426	$	238	$	3,711
Charge-offs (b)	(1,032)		(3)		(134)		(61)		(1,230)
Recoveries	404		5		12		1		422
Net charge-offs	(628)		2		(122)		(60)		(808)
Provision for credit losses (c)	673		(6)		172		39		878
Other	(1)		—		—		1		—
Allowance at June 30, 2023	$	3,064	$	23	$	476	$	218	$	3,781

(a)Excludes $3 million of finance receivables and loans at January 1, 2023, for which we have elected the fair value option and incorporate no allowance for loan losses.

(b)Refer to Note 1 to the Consolidated Financial Statements in our 2022 Annual Report on Form 10-K for information regarding our charge-off policies.

(c)Excludes $5 million of benefit for credit losses related to our reserve for unfunded commitments. The liability related to the reserve for unfunded commitments is included in accrued expenses and other liabilities on our Condensed Consolidated Balance Sheet.

Three months ended June 30, 2022 ($ in millions)	Consumer automotive		Consumer mortgage		Consumer other (a)		Commercial		Total
Allowance at April 1, 2022	$	2,763	$	26	$	258	$	254	$	3,301
Charge-offs (b)	(277)		(1)		(27)		(26)		(331)
Recoveries	169		5		3		1		178
Net charge-offs	(108)		4		(24)		(25)		(153)
Provision for credit losses (c)	230		(3)		70		5		302
Other	—		(1)		(1)		2		—
Allowance at June 30, 2022	$	2,885	$	26	$	303	$	236	$	3,450

(a)Excludes $7 million of finance receivables and loans at both April 1, 2022, and June 30, 2022, for which we have elected the fair value option and incorporate no allowance for loan losses.

(b)Refer to Note 1 to the Consolidated Financial Statements in our 2022 Annual Report on Form 10-K for information regarding our charge-off policies.

(c)Excludes $2 million of provision for credit losses related to our reserve for unfunded commitments. The liability related to the reserve for unfunded commitments is included in accrued expenses and other liabilities on our Condensed Consolidated Balance Sheet.

Six months ended June 30, 2022 ($ in millions)	Consumer automotive		Consumer mortgage		Consumer other (a)		Commercial		Total
Allowance at January 1, 2022	$	2,769	$	27	$	221	$	250	$	3,267
Charge-offs (b)	(553)		(2)		(51)		(26)		(632)
Recoveries	332		8		4		2		346
Net charge-offs	(221)		6		(47)		(24)		(286)
Provision for credit losses (c)	337		(6)		129		9		469
Other	—		(1)		—		1		—
Allowance at June 30, 2022	$	2,885	$	26	$	303	$	236	$	3,450

(a)Excludes $7 million of finance receivables and loans at both January 1, 2022, and June 30, 2022, for which we have elected the fair value option and incorporate no allowance for loan losses.

(b)Refer to Note 1 to the Consolidated Financial Statements in our 2022 Annual Report on Form 10-K for information regarding our charge-off policies.

(c)Excludes $2 million of provision for credit losses related to our reserve for unfunded commitments. The liability related to the reserve for unfunded commitments is included in accrued expenses and other liabilities on our Condensed Consolidated Balance Sheet.

The following table presents sales of finance receivables and loans and transfers of finance receivables and loans from held-for-investment to held-for-sale based on net carrying value.

	Three months ended June 30,				Six months ended June 30,
($ in millions)	2023		2022		2023		2022
Consumer mortgage	$	—	$	2	$	1	$	2
Total sales and transfers	$	—	$	2	$	1	$	2

The following table presents purchases of finance receivables and loans based on unpaid principal balance at the time of purchase.

	Three months ended June 30,				Six months ended June 30,
($ in millions)	2023		2022		2023		2022
Consumer automotive	$	1,080	$	1,558	$	1,838	$	2,051
Consumer mortgage	5		808		7		1,633
Commercial	—		1		7		1
Total purchases of finance receivables and loans	$	1,085	$	2,367	$	1,852	$	3,685

Nonaccrual Loans

The following tables present the amortized cost of our finance receivables and loans on nonaccrual status. All consumer or commercial finance receivables and loans that were 90 days or more past due were on nonaccrual status as of June 30, 2023, and December 31, 2022. Refer to Note 1 for additional information on our accounting policy for finance receivables and loans on nonaccrual status.

					June 30, 2023
($ in millions)	Nonaccrual status at Jan. 1, 2023		Nonaccrual status at Apr. 1, 2023		Nonaccrual status		Nonaccrual with no allowance (a)
Consumer automotive	$	1,187	$	1,110	$	1,098	$	501
Consumer mortgage
Mortgage Finance	34		34		38		20
Mortgage — Legacy	15		15		14		13
Total consumer mortgage	49		49		52		33
Consumer other
Personal Lending	13		12		11		—
Credit Card	43		54		55		—
Total consumer other	56		66		66		—
Total consumer	1,292		1,225		1,216		534
Commercial
Commercial and industrial
Automotive	5		—		24		7
Other	157		159		161		5
Commercial real estate	—		—		3		—
Total commercial	162		159		188		12
Total finance receivables and loans (b)	$	1,454	$	1,384	$	1,404	$	546

(a)Represents a component of nonaccrual status at end of period.

(b)We recorded interest income from cash payments associated with finance receivables and loans on nonaccrual status of $4 million and $7 million for the three months and six months ended June 30, 2023, respectively.

					December 31, 2022
($ in millions)	Nonaccrual status at Jan. 1, 2022		Nonaccrual status at Apr. 1, 2022		Nonaccrual status		Nonaccrual with no allowance (a)
Consumer automotive	$	1,078	$	1,072	$	1,187	$	445
Consumer mortgage
Mortgage Finance	59		51		34		25
Mortgage — Legacy	26		24		15		14
Total consumer mortgage	85		75		49		39
Consumer other
Personal Lending	5		6		13		—
Credit Card	11		14		43		—
Total consumer other	16		20		56		—
Total consumer	1,179		1,167		1,292		484
Commercial
Commercial and industrial
Automotive	33		3		5		2
Other	221		217		157		33
Commercial real estate	3		1		—		—
Total commercial	257		221		162		35
Total finance receivables and loans (b)	$	1,436	$	1,388	$	1,454	$	519

(a)Represents a component of nonaccrual status at end of period.

(b)We recorded interest income from cash payments associated with finance receivables and loans on nonaccrual status of $3 million and $6 million for the three months and six months ended June 30, 2022, respectively.

Credit Quality Indicators

We evaluate the credit quality of our consumer loan portfolio based on the aging status of the loan and by payment activity. Loan delinquency reporting is generally based upon borrower payment activity, relative to the contractual terms of the loan.

The following tables present the amortized cost basis of our consumer finance receivables and loans by credit quality indicator based on delinquency status and origination year.

	Origination year														Revolving loans converted to term
June 30, 2023 ($ in millions)	2023		2022		2021		2020		2019		2018 and prior		Revolving loans				Total
Consumer automotive
Current	$	16,474	$	30,508	$	17,946	$	8,098	$	4,757	$	3,199	$	—	$	—	$	80,982
30–59 days past due	133		905		755		294		210		175		—		—		2,472
60–89 days past due	36		323		298		113		73		57		—		—		900
90 or more days past due	10		117		102		41		31		33		—		—		334
Total consumer automotive (a)	16,653		31,853		19,101		8,546		5,071		3,464		—		—		84,688
Consumer mortgage
Mortgage Finance
Current	62		2,233		10,641		1,885		769		3,223		—		—		18,813
30–59 days past due	—		7		8		5		5		18		—		—		43
60–89 days past due	—		1		4		—		—		8		—		—		13
90 or more days past due	—		1		4		—		3		17		—		—		25
Total Mortgage Finance	62		2,242		10,657		1,890		777		3,266		—		—		18,894
Mortgage — Legacy
Current	—		—		—		—		—		58		164		17		239
30–59 days past due	—		—		—		—		—		2		2		1		5
60–89 days past due	—		—		—		—		—		1		—		—		1
90 or more days past due	—		—		—		—		—		7		1		2		10
Total Mortgage — Legacy	—		—		—		—		—		68		167		20		255
Total consumer mortgage	62		2,242		10,657		1,890		777		3,334		167		20		19,149
Consumer other
Personal Lending
Current	716		1,093		277		32		3		—		—		—		2,121
30–59 days past due	4		13		4		1		—		—		—		—		22
60–89 days past due	2		10		4		—		—		—		—		—		16
90 or more days past due	1		7		3		—		—		—		—		—		11
Total Personal Lending	723		1,123		288		33		3		—		—		—		2,170
Credit Card
Current	—		—		—		—		—		—		1,654		—		1,654
30–59 days past due	—		—		—		—		—		—		27		—		27
60–89 days past due	—		—		—		—		—		—		24		—		24
90 or more days past due	—		—		—		—		—		—		52		—		52
Total Credit Card	—		—		—		—		—		—		1,757		—		1,757
Total consumer other	723		1,123		288		33		3		—		1,757		—		3,927
Total consumer	$	17,438	$	35,218	$	30,046	$	10,469	$	5,851	$	6,798	$	1,924	$	20	$	107,764

(a)Certain consumer automotive loans are included in fair value hedging relationships. The amortized cost excludes a liability of $394 million related to basis adjustments for loans in closed portfolios with active hedges under the portfolio layer method at June 30, 2023. These basis adjustments would be allocated to the amortized cost of specific loans within the pool if the hedge was dedesignated. Refer to Note 18 for additional information.

	Origination year														Revolving loans converted to term
December 31, 2022 ($ in millions)	2022		2021		2020		2019		2018		2017 and prior		Revolving loans				Total
Consumer automotive
Current	$	36,127	$	22,102	$	10,341	$	6,451	$	3,237	$	1,890	$	—	$	—	$	80,148
30–59 days past due	707		878		370		284		165		120		—		—		2,524
60–89 days past due	207		324		135		99		55		38		—		—		858
90 or more days past due	73		111		47		38		23		24		—		—		316
Total consumer automotive (a)	37,114		23,415		10,893		6,872		3,480		2,072		—		—		83,846
Consumer mortgage
Mortgage Finance
Current	2,292		10,893		1,946		815		577		2,805		—		—		19,328
30–59 days past due	15		29		4		3		4		26		—		—		81
60–89 days past due	2		4		—		1		1		3		—		—		11
90 or more days past due	—		1		—		2		8		14		—		—		25
Total Mortgage Finance	2,309		10,927		1,950		821		590		2,848		—		—		19,445
Mortgage — Legacy
Current	—		—		—		—		—		62		191		18		271
30–59 days past due	—		—		—		—		—		4		1		—		5
60–89 days past due	—		—		—		—		—		—		—		1		1
90 or more days past due	—		—		—		—		—		8		3		2		13
Total Mortgage — Legacy	—		—		—		—		—		74		195		21		290
Total consumer mortgage	2,309		10,927		1,950		821		590		2,922		195		21		19,735
Consumer other
Personal Lending
Current	1,492		392		48		5		1		—		—		—		1,938
30–59 days past due	14		6		1		—		—		—		—		—		21
60–89 days past due	9		5		1		—		—		—		—		—		15
90 or more days past due	8		5		—		—		—		—		—		—		13
Total Personal Lending (b)	1,523		408		50		5		1		—		—		—		1,987
Credit Card
Current	—		—		—		—		—		—		1,518		—		1,518
30–59 days past due	—		—		—		—		—		—		22		—		22
60–89 days past due	—		—		—		—		—		—		18		—		18
90 or more days past due	—		—		—		—		—		—		41		—		41
Total Credit Card	—		—		—		—		—		—		1,599		—		1,599
Total consumer other	1,523		408		50		5		1		—		1,599		—		3,586
Total consumer	$	40,946	$	34,750	$	12,893	$	7,698	$	4,071	$	4,994	$	1,794	$	21	$	107,167

(a)Certain consumer automotive loans are included in fair value hedging relationships. The amortized cost excludes a liability of $560 million related to basis adjustments for loans in closed portfolios with active hedges under the portfolio layer method at December 31, 2022. These basis adjustments would be allocated to the amortized cost of specific loans within the pool if the hedge was dedesignated. Refer to Note 18 for additional information.

(b)Excludes $3 million of finance receivables at December 31, 2022, for which we have elected the fair value option.

We evaluate the credit quality of our commercial loan portfolio using regulatory risk ratings, which are based on relevant information about the borrower’s financial condition, including current financial information, historical payment experience, credit documentation, and current economic trends, among other factors. We use the following definitions for risk rankings below Pass.

•Special mention — Loans that have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or the institution’s credit position at some future date.

•Substandard — Loans that are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. These loans have a well-defined weakness or weakness that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

•Doubtful — Loans that have all the weaknesses inherent in those classified as substandard, with the additional characteristic that the weaknesses make collection or liquidation in full, based on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

•Loss — Loans that are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be effected in the future.

The regulatory risk classification utilized is influenced by internal credit risk ratings, which are based on a variety of factors. A borrower’s internal credit risk rating is updated at least annually, and more frequently when a borrower’s credit profile changes, including when we become aware of potential credit deterioration. The following tables present the amortized cost basis of our commercial finance receivables and loans by credit quality indicator based on risk rating and origination year.

	Origination year														Revolving loans converted to term
June 30, 2023 ($ in millions)	2023		2022		2021		2020		2019		2018 and prior		Revolving loans				Total
Commercial
Commercial and industrial
Automotive
Pass	$	271	$	560	$	189	$	112	$	68	$	44	$	13,877	$	—	$	15,121
Special mention	2		19		45		—		—		24		1,016		—		1,106
Substandard	—		1		—		—		—		—		49		—		50
Doubtful	—		—		—		—		—		—		16		—		16
Total automotive	273		580		234		112		68		68		14,958		—		16,293
Other
Pass	185		553		377		306		360		206		5,611		147		7,745
Special mention	—		233		175		195		51		154		281		24		1,113
Substandard	—		—		23		3		27		120		42		15		230
Doubtful	—		—		—		—		—		26		3		—		29
Loss (a)	—		—		—		—		7		—		—		—		7
Total other	185		786		575		504		445		506		5,937		186		9,124
Commercial real estate
Pass	385		1,529		1,161		929		662		895		9		31		5,601
Special mention	—		7		31		2		18		—		—		—		58
Substandard	—		2		—		—		—		1		—		—		3
Total commercial real estate	385		1,538		1,192		931		680		896		9		31		5,662
Total commercial	$	843	$	2,904	$	2,001	$	1,547	$	1,193	$	1,470	$	20,904	$	217	$	31,079

(a)During the three months ended June 30, 2023, we incurred a $56 million charge-off of one exposure within our commercial and industrial loan portfolio class. The $7 million risk-rated as a loss relates to the remaining amortized cost of this exposure which we expect to collect in full.

	Origination year														Revolving loans converted to term
December 31, 2022 ($ in millions)	2022		2021		2020		2019		2018		2017 and prior		Revolving loans				Total
Commercial
Commercial and industrial
Automotive
Pass	$	640	$	211	$	132	$	78	$	28	$	34	$	12,327	$	—	$	13,450
Special mention	23		47		—		—		10		21		1,016		—		1,117
Substandard	—		—		—		1		—		—		27		—		28
Total automotive	663		258		132		79		38		55		13,370		—		14,595
Other
Pass	594		469		607		419		54		133		5,344		89		7,709
Special mention	177		158		175		95		47		128		278		35		1,093
Substandard	—		—		4		51		—		139		55		13		262
Doubtful	—		—		—		64		—		25		—		—		89
Loss	—		—		—		—		—		—		1		—		1
Total other	771		627		786		629		101		425		5,678		137		9,154
Commercial real estate
Pass	1,481		1,118		951		679		369		716		9		13		5,336
Special mention	—		32		2		19		—		—		—		—		53
Total commercial real estate	1,481		1,150		953		698		369		716		9		13		5,389
Total commercial	$	2,915	$	2,035	$	1,871	$	1,406	$	508	$	1,196	$	19,057	$	150	$	29,138

The following table presents an analysis of our past-due commercial finance receivables and loans recorded at amortized cost basis.

($ in millions)	30–59 days past due		60–89 days past due		90 days or more past due		Total past due		Current		Total finance receivables and loans
June 30, 2023
Commercial
Commercial and industrial
Automotive	$	12	$	—	$	—	$	12	$	16,281	$	16,293
Other	1		—		7		8		9,116		9,124
Commercial real estate	—		—		—		—		5,662		5,662
Total commercial	$	13	$	—	$	7	$	20	$	31,059	$	31,079
December 31, 2022
Commercial
Commercial and industrial
Automotive	$	—	$	—	$	—	$	—	$	14,595	$	14,595
Other	—		1		2		3		9,151		9,154
Commercial real estate	—		—		—		—		5,389		5,389
Total commercial	$	—	$	1	$	2	$	3	$	29,135	$	29,138

The following table presents gross charge-offs of our finance receivables and loans for each portfolio class by origination year that occurred during the six months ended June 30, 2023. Refer to Note 1 to the Consolidated Financial Statements in our 2022 Annual Report on Form 10-K for additional information on our charge-off policy.

	Origination year														Revolving loans converted to term
Six months ended June 30, 2023 ($ in millions)	2023		2022		2021		2020		2019		2018 and prior		Revolving loans				Total
Consumer automotive	$	21	$	437	$	329	$	102	$	76	$	67	$	—	$	—	$	1,032
Consumer mortgage
Mortgage Finance	—		—		—		—		—		1		—		—		1
Mortgage — Legacy	—		—		—		—		—		2		—		—		2
Total consumer mortgage	—		—		—		—		—		3		—		—		3
Consumer other
Personal Lending	1		40		17		2		—		—		—		—		60
Credit Card	—		—		—		—		—		—		70		4		74
Total consumer other	1		40		17		2		—		—		70		4		134
Total consumer	22		477		346		104		76		70		70		4		1,169
Commercial
Commercial and industrial
Automotive	—		—		—		—		—		—		4		—		4
Other	—		—		—		—		57		—		—		—		57
Total commercial	—		—		—		—		57		—		4		—		61
Total finance receivables and loans	$	22	$	477	$	346	$	104	$	133	$	70	$	74	$	4	$	1,230

Loan Modifications

The following tables present the amortized cost basis of loans that were modified subsequent to origination during the three months and six months ended June 30, 2023, for each portfolio segment, by modification type. For additional information on loan modification types in scope of this disclosure, refer to Note 1. The below tables exclude consumer mortgage finance receivables and loans currently enrolled in a trial modification program. Trial modifications generally represent a three-month period during which the borrower makes monthly payments under the anticipated modified payment terms. If the borrower successfully completes the trial loan modification program, the contractual terms of the loan are updated and the modification is considered permanent. As of June 30, 2023, there were $4 million of consumer mortgage finance receivables and loans in a trial modification program.

	Payment extensions
Three months ended June 30, 2023 ($ in millions)	Payment deferrals		Contractual maturity extensions		Principal forgiveness		Interest rate concessions		Combination		Total
Consumer automotive	$	—	$	25	$	12	$	—	$	—	$	37
Consumer mortgage
Mortgage Finance	—		—		—		—		1		1
Total consumer mortgage	—		—		—		—		1		1
Consumer other
Credit Card	—		—		—		3		—		3
Total consumer other	—		—		—		3		—		3
Total consumer	—		25		12		3		1		41
Commercial
Commercial and industrial
Other	36		36		—		—		—		72
Total commercial	36		36		—		—		—		72
Total finance receivables and loans	$	36	$	61	$	12	$	3	$	1	$	113

	Payment extensions
Six months ended June 30, 2023 ($ in millions)	Payment deferrals		Contractual maturity extensions		Principal forgiveness		Interest rate concessions		Combination		Total (a)
Consumer automotive	$	—	$	40	$	14	$	—	$	33	$	87
Consumer mortgage
Mortgage Finance	—		2		—		—		2		4
Mortgage — Legacy	—		1		—		—		—		1
Total consumer mortgage	—		3		—		—		2		5
Consumer other
Credit Card	—		—		—		6		—		6
Total consumer other	—		—		—		6		—		6
Total consumer	—		43		14		6		35		98
Commercial
Commercial and industrial
Other	64		43		—		—		—		107
Total commercial	64		43		—		—		—		107
Total finance receivables and loans	$	64	$	86	$	14	$	6	$	35	$	205

(a)Represents 0.1% of total finance receivables and loans outstanding as of June 30, 2023.

The following tables present the financial effect of loan modifications that occurred during the three months and six months ended June 30, 2023.

	Payment extensions (a)	Principal forgiveness		Interest rate concessions (a)				Combination (a) (b) (c)
Three months ended June 30, 2023 ($ in millions)	Number of months extended/deferred	Amount forgiven		Initial rate		Revised rate		Remaining term	Revised remaining term	Initial rate		Revised rate
Consumer automotive	26	$	2	—	%	—	%	—	—	—	%	—	%
Consumer mortgage
Mortgage Finance	—	—		—		—		294	480	4.0		2.0
Total consumer mortgage	—	—		—		—		294	480	4.0		2.0
Consumer other
Credit Card	—	—		30.3		10.9		—	—	—		—
Total consumer other	—	—		30.3		10.9		—	—	—		—
Commercial
Commercial and industrial
Other	6	—		—		—		—	—	—		—
Total commercial	6	$	—	—		—		—	—	—		—

(a)Calculated using a weighted-average balance for each portfolio class.

(b)Term is presented in number of months.

(c)Some Mortgage Finance combination loan modifications include deferrals of principal. The weighted average number of months deferred for these loans was 186 months.

	Payment extensions (a)	Principal forgiveness		Interest rate concessions (a)				Combination (a) (b) (c)
Six months ended June 30, 2023 ($ in millions)	Number of months extended/deferred	Amount forgiven		Initial rate		Revised rate		Remaining term	Revised remaining term	Initial rate		Revised rate
Consumer automotive	25	$	2	—	%	—	%	75	85	10.4	%	9.8	%
Consumer mortgage
Mortgage Finance	174	—		—		—		309	470	4.6		3.4
Mortgage — Legacy	96	—		—		—		—	—	—		—
Total consumer mortgage	146	—		—		—		309	470	4.6		3.4
Consumer other
Credit Card	—	—		30.0		9.0		—	—	—		—
Total consumer other	—	—		30.0		9.0		—	—	—		—
Commercial
Commercial and industrial
Other	12	—		—		—		—	—	—		—
Total commercial	12	$	—	—		—		—	—	—		—

(a)Calculated using a weighted-average balance for each portfolio class.

(b)Term is presented in number of months.

(c)Some Mortgage Finance combination loan modifications include deferrals of principal. The weighted average number of months deferred for these loans was 186 months.

The following tables present the subsequent performance of loans recorded at amortized cost, by portfolio segment and credit quality indicator, that have been modified during the three months and six months ended June 30, 2023.

Three months ended June 30, 2023 ($ in millions)	Current		30–59 days past due		60–89 days past due		90 or more days past due		Total
Consumer automotive
Contractual maturity extensions	$	24	$	1	$	—	$	—	$	25
Principal forgiveness	10		1		—		1		12
Total consumer automotive (a)	34		2		—		1		37
Consumer mortgage
Mortgage Finance
Combination	1		—		—		—		1
Total Mortgage Finance	1		—		—		—		1
Total consumer mortgage	1		—		—		—		1
Consumer other
Credit Card
Interest rate concessions	1		1		—		1		3
Total consumer other	1		1		—		1		3
Total consumer	$	36	$	3	$	—	$	2	$	41

(a)During the three months ended June 30, 2023, 29 consumer automotive loans with a total amortized cost of $1 million have redefaulted.

Three months ended June 30, 2023 ($ in millions)	Pass		Special mention		Substandard		Doubtful		Total
Commercial and industrial
Other
Payment deferrals	$	—	$	—	$	36	$	—	$	36
Contractual maturity extensions	31		—		5		—		36
Total commercial	$	31	$	—	$	41	$	—	$	72

Six months ended June 30, 2023 ($ in millions)	Current		30–59 days past due		60–89 days past due		90 or more days past due		Total
Consumer automotive
Contractual maturity extensions	$	38	$	2	$	—	$	—	$	40
Principal forgiveness	10		1		—		3		14
Combination	31		2		—		—		33
Total consumer automotive (a)	79		5		—		3		87
Consumer mortgage
Mortgage Finance
Contractual maturity extensions	2		—		—		—		2
Combination	—		—		2		—		2
Total Mortgage Finance	2		—		2		—		4
Mortgage — Legacy
Contractual maturity extensions	1		—		—		—		1
Total Mortgage — Legacy	1		—		—		—		1
Total consumer mortgage	3		—		2		—		5
Consumer other
Credit Card
Interest rate concessions	3		1		1		1		6
Total consumer other	3		1		1		1		6
Total consumer	$	85	$	6	$	3	$	4	$	98

(a)During the six months ended June 30, 2023, 41 consumer automotive loans with a total amortized cost of $1 million have redefaulted.

Six months ended June 30, 2023 ($ in millions)	Pass		Special mention		Substandard		Doubtful		Total
Commercial and industrial
Other
Payment deferrals	$	—	$	—	$	36	$	28	$	64
Contractual maturity extensions	31		7		5		—		43
Total commercial	$	31	$	7	$	41	$	28	$	107

Troubled Debt Restructuring Disclosures Prior to the Adoption of ASU 2022-02

The adoption of ASU 2022-02 eliminated TDR recognition and measurement guidance, as well as all TDR-related disclosures. Refer to Note 1 for additional information. TDRs were loan modifications where concessions were granted to borrowers experiencing financial difficulties. Total TDRs recorded at amortized cost were $2.4 billion at December 31, 2022.

The following tables present information related to finance receivables and loans recorded at amortized cost modified in connection with a TDR during the period.

Three months ended June 30, 2022 ($ in millions)	Number of loans	Pre-modification amortized cost basis		Post-modification amortized cost basis
Consumer automotive	12,928	$	213	$	206
Consumer mortgage
Mortgage Finance	3	2		2
Mortgage — Legacy	3	—		—
Total consumer mortgage	6	2		2
Consumer other
Credit Card	743	1		1
Total consumer other	743	1		1
Total consumer	13,677	216		209
Commercial
Commercial and industrial
Other	3	377		377
Total commercial	3	377		377
Total finance receivables and loans	13,680	$	593	$	586

Six months ended June 30, 2022 ($ in millions)	Number of loans	Pre-modification amortized cost basis		Post-modification amortized cost basis
Consumer automotive	26,379	$	444	$	433
Consumer mortgage
Mortgage Finance	9	7		7
Mortgage — Legacy	7	1		1
Total consumer mortgage	16	8		8
Consumer other
Credit Card	1,094	2		2
Total consumer other	1,094	2		2
Total consumer	27,489	454		443
Commercial
Commercial and industrial
Other	4	411		411
Total commercial	4	411		411
Total finance receivables and loans	27,493	$	865	$	854

The following tables present information about finance receivables and loans recorded at amortized cost that have redefaulted during the reporting period and were within 12 months or less of being modified as a TDR. Redefault is when finance receivables and loans meet the requirements for evaluation under our charge-off policy except for commercial finance receivables and loans, where redefault is defined as 90 days past due.

Three months ended June 30, 2022 ($ in millions)	Number of loans	Amortized cost		Charge-off amount
Consumer automotive	2,138	$	35	$	14
Consumer mortgage
Mortgage Finance	1	—		—
Total consumer mortgage	1	—		—
Consumer other
Credit Card	79	—		—
Total consumer other	79	—		—
Total finance receivables and loans	2,218	$	35	$	14

Six months ended June 30, 2022 ($ in millions)	Number of loans	Amortized cost		Charge-off amount
Consumer automotive	4,249	$	66	$	27
Consumer mortgage
Mortgage Finance	3	2		—
Total consumer mortgage	3	2		—
Consumer Other
Credit Card	79	—		—
Total consumer other	79	—		—
Total finance receivables and loans	4,331	$	68	$	27