Subsequent Events

Acquisition of Certain of Ally Financial Inc. International Operations.

In November 2012, we entered into a definitive agreement with Ally Financial to acquire 100% of the outstanding equity interests in the top level holding companies of its automotive finance and financial services operations in Europe and Latin America and a separate agreement to acquire its non-controlling equity interests in GMAC-SAIC Automotive Finance Company Limited, which conducts automotive finance and other financial services in China.

In April 2013, we completed the acquisition of substantially all of Ally Financial's European and Latin American automotive finance operations except for France, Portugal and Brazil. We paid approximately $2.4 billion, subject to certain closing adjustments, to acquire these businesses. In addition to the purchase price that we have paid with respect to the acquisitions, we have also funded a $1.5 billion inter-company loan to certain of the entities we acquired in Europe, of which $1.3 billion was used to repay a loan from Ally Financial to such European entities. GM provided us with additional equity funding of $1.3 billion and we borrowed $0.8 billion on the GM Related Party Credit Facility, which increased size to $1.5 billion on April 1, 2013, to complete these acquisitions.

Our acquisition of Ally Financial's French, Portuguese, and Brazilian automotive finance operations and the equity interests in GMAC-SAIC are subject to certain regulatory and other approvals, and are expected to close in 2013 or early 2014. We expect to pay approximately $1.8 billion to close these acquisitions, subject to certain closing adjustments.

We will record the fair value of assets acquired and liabilities assumed at April 1, 2013, the date we obtained control of the acquired operations, and include the results of their operations and cash flows in our consolidated financial statements from that date forward.

The following table summarizes certain pro forma financial information for us and the acquired entities closed in April, had these acquisitions occurred as of the first day in the periods presented (in thousands):



	Three Months Ended
	March 31,
	2013		2012
Total revenue	$	764,913	$	682,131

Net income	142,798		159,365

It is not possible to reasonably estimate the nature and amount of goodwill or the value of identifiable intangible assets at this time because the valuation of the assets acquired and liabilities assumed was not completed at the date of the issuance of our condensed consolidated financial statements.