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Finance Receivables and Loans, Net (Tables)
 3 Months Ended
Mar. 31, 2025
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
The composition of finance receivables and loans reported at amortized cost basis was as follows.
($ in millions)March 31, 2025December 31, 2024
Consumer automotive (a)$83,868 $83,757 
Consumer mortgage (b)16,963 17,234 
Consumer other (c)— 2,294 
Total consumer100,831 103,285 
Commercial
Commercial and industrial
Automotive16,939 18,259 
Other8,984 8,212 
Commercial real estate6,731 6,274 
Total commercial32,654 32,745 
Total finance receivables and loans (d) (e)$133,485 $136,030 
(a)Certain finance receivables and loans are included in fair value hedging relationships. Refer to Note 19 for additional information.
(b)Includes loans originated as interest-only mortgage loans of $12 million at both March 31, 2025, and December 31, 2024, of which all have exited the interest-only period.
(c)Consists of credit card finance receivables and loans, which were transferred to loans held-for-sale, and are included in assets of operations held-for-sale on our Condensed Consolidated Balance Sheet at March 31, 2025. Refer to Note 2 for additional information. Billed interest on our credit card loans was included within finance receivables and loans, net as of December 31, 2024.
(d)Totals include net unearned income, unamortized premiums and discounts, and deferred fees and costs of $2.3 billion at both March 31, 2025, and December 31, 2024.
(e)Totals do not include accrued interest receivable, which was $757 million and $839 million at March 31, 2025, and December 31, 2024, respectively. Accrued interest receivable is included in other assets on our Condensed Consolidated Balance Sheet.
Schedule of Allowance for Credit Losses on Financing Receivables
The following tables present an analysis of the activity in the allowance for loan losses on finance receivables and loans for the three months ended March 31, 2025, and 2024, respectively.
Three months ended March 31, 2025 ($ in millions)
Consumer automotiveConsumer mortgageConsumer other (a)CommercialTotal
Allowance at January 1, 2025$3,170 $19 $319 $206 $3,714 
Charge-offs (b)(676)— (68)(1)(745)
Recoveries231 1 5 1 238 
Net charge-offs(445)1 (63)— (507)
Provision for credit losses418 — (257)30 191 
Other1 (2)1 — — 
Allowance at March 31, 2025
$3,144 $18 $— $236 $3,398 
(a)Consists of Credit Card.
(b)Refer to Note 1 to the Consolidated Financial Statements in our 2024 Annual Report on Form 10-K for information regarding our charge-off policies.
Three months ended March 31, 2024 ($ in millions)
Consumer automotiveConsumer mortgageConsumer other (a)CommercialTotal
Allowance at January 1, 2024$3,083 $21 $293 $190 $3,587 
Charge-offs (b)(688)(1)(68)(1)(758)
Recoveries211 1 6 1 219 
Net charge-offs(477)— (62)— (539)
Write-downs from transfers to held-for-sale (c)(5)— — — (5)
Provision for credit losses449 — 60 (2)507 
Allowance at March 31, 2024
$3,050 $21 $291 $188 $3,550 
(a)Consists of Credit Card.
(b)Refer to Note 1 to the Consolidated Financial Statements in our 2024 Annual Report on Form 10-K for information regarding our charge-off policies.
(c)Consumer automotive includes a $5 million reduction of allowance from the completion of a retail securitization transaction during the three months ended March 31, 2024, resulting in the deconsolidation of the assets and liabilities from our Condensed Consolidated Balance Sheet.
Schedule of Sales of Financing Receivables and Loans
The following table presents sales of finance receivables and loans and transfers of finance receivables and loans from held-for-investment to held-for-sale based on net carrying value.
Three months ended March 31,
($ in millions)20252024
Consumer automotive$— $1,108 
Consumer other (a)2,248 — 
Commercial73 45 
Total sales and transfers$2,321 $1,153 
(a)Credit card finance receivables and loans were transferred to loans held-for-sale, and are included in assets of operations held-for-sale on our Condensed Consolidated Balance Sheet at March 31, 2025. Refer to Note 2 for additional information.
Schedule of Purchases of Financing Receivables and Loans
The following table presents purchases of finance receivables and loans based on unpaid principal balance at the time of purchase.
Three months ended March 31,
($ in millions)20252024
Consumer automotive$749 $981 
Consumer mortgage8 4 
Total purchases of finance receivables and loans$757 $985 
Schedule of Financing Receivables, Nonaccrual Status
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 March 31, 2025, and December 31, 2024. We recorded interest income from cash payments associated with finance receivables and loans on nonaccrual status of $4 million and $5 million for the three months ended March 31, 2025, and 2024, respectively. Refer to Note 1 to the Consolidated Financial Statements in our 2024 Annual Report on Form 10-K for additional information on our accounting policy for finance receivables and loans on nonaccrual status.
March 31, 2025
($ in millions)Nonaccrual status at Jan. 1, 2025Nonaccrual statusNonaccrual with no allowance (a)
Consumer automotive$1,231 $1,167 $449 
Consumer mortgage54 56 38 
Consumer other (b)90 — — 
Total consumer1,375 1,223 487 
Commercial
Commercial and industrial
Automotive15 79 3 
Other94 94 3 
Commercial real estate2 21 9 
Total commercial111 194 15 
Total finance receivables and loans$1,486 $1,417 $502 
(a)Represents a component of nonaccrual status at end of period.
(b)Consists of credit card finance receivables and loans, which were transferred to loans held-for-sale, and are included in assets of operations held-for-sale on our Condensed Consolidated Balance Sheet at March 31, 2025. Refer to Note 2 for additional information.
December 31, 2024
($ in millions)Nonaccrual status at Jan. 1, 2024Nonaccrual statusNonaccrual with no allowance (a)
Consumer automotive$1,129 $1,231 $476 
Consumer mortgage54 54 36 
Consumer other (b)92 90 — 
Total consumer1,275 1,375 512 
Commercial
Commercial and industrial
Automotive18 15 — 
Other98 94 4 
Commercial real estate3 2 2 
Total commercial119 111 6 
Total finance receivables and loans$1,394 $1,486 $518 
(a)Represents a component of nonaccrual status at end of period.
(b)Consists of credit card finance receivables and loans.
Schedule of Financing Receivable Credit Quality Indicators
The following tables present the amortized cost basis of our consumer finance receivables and loans by credit quality indicator based on delinquency status and origination year.
Origination yearRevolving loans converted to term
March 31, 2025 ($ in millions)
202520242023202220212020 and priorRevolving loansTotal
Consumer automotive
Current$8,935 $27,767 $18,395 $13,598 $7,287 $3,901 $— $— $79,883 
30–59 days past due15 461 659 704 437 232 — — 2,508 
60–89 days past due1 160 299 330 188 96 — — 1,074 
90 or more days past due— 61 108 120 77 49 — — 415 
Total consumer automotive (a)8,951 28,449 19,461 14,752 7,989 4,278 — — 83,880 
Consumer mortgage
Current— 20 31 1,865 9,702 5,125 108 15 16,866 
30–59 days past due— — — 5 5 20 — — 30 
60–89 days past due— — — 3 9 11 — — 23 
90 or more days past due— — 1 5 10 25 1 2 44 
Total consumer mortgage— 20 32 1,878 9,726 5,181 109 17 16,963 
Total consumer (b)$8,951 $28,469 $19,493 $16,630 $17,715 $9,459 $109 $17 $100,843 
(a)Certain consumer automotive loans are included in fair value hedging relationships. The amortized cost excludes a liability of $12 million related to basis adjustments for loans in closed portfolios with active hedges under the portfolio layer method at March 31, 2025. These basis adjustments would be allocated to the amortized cost of specific loans within the pool if the hedge was dedesignated. Refer to Note 19 for additional information.
(b)Excludes credit card finance receivables and loans, which were transferred to loans held-for-sale, and are included in assets of operations held-for-sale on our Condensed Consolidated Balance Sheet at March 31, 2025. Refer to Note 2 for additional information.
Origination yearRevolving loans converted to term
December 31, 2024 ($ in millions)
202420232022202120202019 and priorRevolving loansTotal
Consumer automotive
Current$30,322 $20,387 $15,234 $8,368 $3,064 $1,849 $— $— $79,224 
30–59 days past due419 756 841 546 174 141 — — 2,877 
60–89 days past due131 338 390 240 75 56 — — 1,230 
90 or more days past due47 123 142 93 31 31 — — 467 
Total consumer automotive (a)30,919 21,604 16,607 9,247 3,344 2,077 — — 83,798 
Consumer mortgage
Current13 31 1,901 9,834 1,714 3,503 115 15 17,126 
30–59 days past due— — 7 9 5 27 — — 48 
60–89 days past due— — 4 4 1 4 — — 13 
90 or more days past due— 2 2 9 1 30 1 2 47 
Total consumer mortgage13 33 1,914 9,856 1,721 3,564 116 17 17,234 
Consumer other
Current— — — — — — 2,140 — 2,140 
30–59 days past due— — — — — — 35 — 35 
60–89 days past due— — — — — — 33 — 33 
90 or more days past due— — — — — — 86 — 86 
Total consumer other (b)— — — — — — 2,294 — 2,294 
Total consumer$30,932 $21,637 $18,521 $19,103 $5,065 $5,641 $2,410 $17 $103,326 
(a)Certain consumer automotive loans are included in fair value hedging relationships. The amortized cost excludes a liability of $41 million related to basis adjustments for loans in closed portfolios with active hedges under the portfolio layer method at December 31, 2024. These basis adjustments would be allocated to the amortized cost of specific loans within the pool if the hedge was dedesignated. Refer to Note 19 for additional information.
(b)Consists of credit card finance receivables and loans.
The following tables present the amortized cost basis of our commercial finance receivables and loans by credit quality indicator based on risk rating and origination year.
Origination yearRevolving loans converted to term
March 31, 2025 ($ in millions)
202520242023202220212020 and priorRevolving loansTotal
Commercial
Commercial and industrial
Automotive
Pass$49 $508 $311 $315 $117 $104 $13,818 $— $15,222 
Special mention— 4 26 13 21 4 1,521 — 1,589 
Substandard— — 1 2 3 1 116 — 123 
Doubtful— — — — — — 5 — 5 
Total automotive49 512 338 330 141 109 15,460 — 16,939 
Other
Pass128 705 248 194 197 239 5,793 107 7,611 
Special mention— — — 363 248 266 247 21 1,145 
Substandard— — 27 — 22 117 24 3 193 
Doubtful— — — — — 26 9 — 35 
Total other128 705 275 557 467 648 6,073 131 8,984 
Commercial real estate
Pass572 1,043 866 1,169 1,012 1,797 — 47 6,506 
Special mention— 7 39 78 42 38 — — 204 
Substandard— — 6 8 5 — — — 19 
Doubtful— — — 1 — 1 — — 2 
Total commercial real estate572 1,050 911 1,256 1,059 1,836 — 47 6,731 
Total commercial$749 $2,267 $1,524 $2,143 $1,667 $2,593 $21,533 $178 $32,654 
Origination yearRevolving loans converted to term
December 31, 2024 ($ in millions)
202420232022202120202019 and priorRevolving loansTotal
Commercial
Commercial and industrial
Automotive
Pass$522 $336 $337 $125 $64 $52 $15,005 $— $16,441 
Special mention3 38 15 25 3 1 1,694 — 1,779 
Substandard— — — — — — 33 — 33 
Doubtful— — — — — — 6 — 6 
Total automotive525 374 352 150 67 53 16,738 — 18,259 
Other
Pass707 296 261 199 18 205 5,047 84 6,817 
Special mention— — 394 280 186 76 226 32 1,194 
Substandard— 27 — 23 46 54 12 4 166 
Doubtful— — — — — 26 9 — 35 
Total other707 323 655 502 250 361 5,294 120 8,212 
Commercial real estate
Pass959 904 1,228 1,030 757 1,137 — 36 6,051 
Special mention6 51 69 57 35 3 — — 221 
Doubtful— — 1 — — 1 — — 2 
Total commercial real estate965 955 1,298 1,087 792 1,141 — 36 6,274 
Total commercial$2,197 $1,652 $2,305 $1,739 $1,109 $1,555 $22,032 $156 $32,745 
The following tables present gross charge-offs of our finance receivables and loans for each portfolio class by origination year during the three months ended March 31, 2025, and during the year ended December 31, 2024, respectively. Refer to Note 1 to the Consolidated Financial Statements in our 2024 Annual Report on Form 10-K for additional information on our charge-off policy.
Origination yearRevolving loans converted to term
March 31, 2025 ($ in millions)
202520242023202220212020 and priorRevolving loansTotal
Consumer automotive$1 $120 $206 $200 $98 $51 $— $— $676 
Consumer other (a)— — — — — — 64 4 68 
Total consumer1 120 206 200 98 51 64 4 744 
Commercial
Commercial and industrial
Automotive— — — — — — 1 — 1 
Total commercial— — — — — — 1 — 1 
Total finance receivables and loans$1 $120 $206 $200 $98 $51 $65 $4 $745 
(a)Consists of Credit Card.
Origination yearRevolving loans converted to term
December 31, 2024 ($ in millions)
202420232022202120202019 and priorRevolving loansTotal
Consumer automotive (a)$160 $779 $943 $510 $137 $152 $— $— $2,681 
Consumer mortgage— — — 1 — 1 — — 2 
Consumer other (b)— — — — — — 246 16 262 
Total consumer160 779 943 511 137 153 246 16 2,945 
Commercial
Commercial and industrial
Automotive— — — — — 1 2 — 3 
Total commercial— — — — — 1 2 — 3 
Total finance receivables and loans$160 $779 $943 $511 $137 $154 $248 $16 $2,948 
(a)Excludes $5 million of write-downs from transfers to held-for-sale from the completion of a retail securitization transaction during the year ended December 31, 2024, resulting in the deconsolidation of the assets and liabilities from our Condensed Consolidated Balance Sheet.
(b)Consists of Credit Card.
Schedule of Past Due Financing Receivables
The following table presents an analysis of our past-due commercial finance receivables and loans recorded at amortized cost basis.
($ in millions)30–59 days past due60–89 days past due90 days or more past dueTotal past dueCurrentTotal finance receivables and loans
March 31, 2025
Commercial
Commercial and industrial
Automotive$— $— $2 $2 $16,937 $16,939 
Other— — — — 8,984 8,984 
Commercial real estate— — 1 1 6,730 6,731 
Total commercial$— $— $3 $3 $32,651 $32,654 
December 31, 2024
Commercial
Commercial and industrial
Automotive$5 $— $— $5 $18,254 $18,259 
Other35 — — 35 8,177 8,212 
Commercial real estate1 — 1 2 6,272 6,274 
Total commercial$41 $— $1 $42 $32,703 $32,745 
Schedule of Loan Modifications
The following tables present the amortized cost basis of loans that were modified subsequent to origination during the three months ended March 31, 2025, and 2024, respectively, for each portfolio segment, by modification type. For additional information on loan modification types in scope of this disclosure, refer to Note 1 to the Consolidated Financial Statements in our 2024 Annual Report on Form 10-K. 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 March 31, 2025, and December 31, 2024, there were $5 million and $4 million of consumer mortgage finance receivables and loans in a trial modification program, respectively.
Payment extensions
Three months ended March 31, 2025
($ in millions)
Payment deferralsContractual maturity extensionsPrincipal forgivenessInterest rate concessionsCombinationTotal (a)
Consumer automotive$— $105 $1 $— $— $106 
Consumer mortgage— — — — 1 1 
Total consumer— 105 1 — 1 107 
Commercial
Commercial and industrial
Automotive2 — — — — 2 
Other4 22 — — — 26 
Total commercial6 22 — — — 28 
Total finance receivables and loans$6 $127 $1 $— $1 $135 
(a)Represents 0.1% of total finance receivables and loans outstanding as of March 31, 2025.
Payment extensions
Three months ended March 31, 2024
($ in millions)
Payment deferralsContractual maturity extensionsPrincipal forgivenessInterest rate concessionsCombinationTotal (a)
Consumer automotive$— $99 $1 $— $— $100 
Consumer mortgage— — — — 1 1 
Consumer other (b)— — — 6 — 6 
Total consumer— 99 1 6 1 107 
Commercial
Commercial and industrial
Automotive— — — 4 — 4 
Other— 129 — — — 129 
Total commercial— 129 — 4 — 133 
Total finance receivables and loans$— $228 $1 $10 $1 $240 
(a)Represents 0.2% of total finance receivables and loans outstanding as of March 31, 2024.
(b)Consists of Credit Card.
The following tables present the financial effect of loan modifications that occurred during the three months ended March 31, 2025, and 2024, respectively.
Payment extensions (a)Principal forgivenessInterest rate concessions (a)Combination (a) (b)
Three months ended
March 31, 2025
($ in millions)
Number of months extended/deferredAmount forgivenInitial rateRevised rateRemaining termRevised remaining termInitial rateRevised rate
Consumer automotive29$— — %— %— — — %— %
Consumer mortgage— — — — 2914804.5 2.8 
Commercial
Commercial and industrial
Automotive7$— — %— %— — — %— %
Other16— — — — — — — 
Total commercial15$— — — — — — — 
(a)Calculated using a weighted-average balance for each portfolio class.
(b)Term is presented in number of months.
Payment extensions (a)Principal forgivenessInterest rate concessions (a)Combination (a) (b)
Three months ended
March 31, 2024
($ in millions)
Number of months extended/deferredAmount forgivenInitial rateRevised rateRemaining termRevised remaining termInitial rateRevised rate
Consumer automotive29$— — %— %— — — %— %
Consumer mortgage— — — — 3554803.5 3.4 
Consumer other (c)— — 30.5 10.1 ——— — 
Commercial
Commercial and industrial
Automotive— $— 12.9 %11.5 %——— %— %
Other41— — — ——— — 
Total commercial41$— 12.9 11.5 ——— — 
(a)Calculated using a weighted-average balance for each portfolio class.
(b)Term is presented in number of months.
(c)Consists of Credit Card.
The following tables present the subsequent performance of loans recorded at amortized cost, by portfolio segment and credit quality indicator, that were modified within the 12 months prior to March 31, 2025, and 2024, respectively.
March 31, 2025 ($ in millions)
Current30–59 days past due60–89 days past due90 or more days past dueTotal
Consumer automotive
Contractual maturity extensions$328 $62 $23 $7 $420 
Principal forgiveness— — — 5 5 
Combination2 — — — 2 
Total consumer automotive330 62 23 12 427 
Consumer mortgage
Contractual maturity extensions1 — — 1 2 
Combination1 — — — 1 
Total consumer mortgage2 — — 1 3 
Total consumer$332 $62 $23 $13 $430 
March 31, 2025 ($ in millions)
PassSpecial mentionSubstandardDoubtfulTotal
Commercial and industrial
Automotive
Payment deferrals$— $— $4 $— $4 
Combination— — — 3 3 
Other
Payment deferrals— — 4 — 4 
Contractual maturity extensions25 — 22 — 47 
Combination— — 14 — 14 
Commercial real estate
Payment deferrals— — — 1 1 
Total commercial$25 $— $44 $4 $73 
March 31, 2024 ($ in millions)
Current30–59 days past due60–89 days past due90 or more days past dueTotal
Consumer automotive
Contractual maturity extensions$253 $38 $10 $2 $303 
Principal forgiveness6 1 — 5 12 
Total consumer automotive259 39 10 7 315 
Consumer mortgage
Contractual maturity extensions2 — — — 2 
Combination2 — — — 2 
Total consumer mortgage4 — — — 4 
Consumer other (a)
Interest rate concessions9 1 1 3 14 
Total consumer other9 1 1 3 14 
Total consumer$272 $40 $11 $10 $333 
(a)Consists of Credit Card.
March 31, 2024 ($ in millions)
PassSpecial mentionSubstandardDoubtfulTotal
Commercial and industrial
Automotive
Interest rate concessions$— $— $4 $— $4 
Other
Contractual maturity extensions107 — 60 — 167 
Total commercial$107 $— $64 $— $171