Guarantor Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Mar. 31, 2016

Guarantor Consolidating Financial Statements [abstract]

Condensed Consolidating Balance Sheet

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

March 31, 2016

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	2,033		$	865		$	—		$	2,898
Finance receivables, net	—			6,132			32,526			—			38,658
Leased vehicles, net	—			—			24,538			—			24,538
Restricted cash	—			67			2,063			—			2,130
Goodwill	1,095			—			100			—			1,195
Equity in net assets of non-consolidated affiliates	—			—			989			—			989
Property and equipment, net	—			105			125			—			230
Deferred income taxes	268			—			246			(263		)	251
Related party receivables	—			26			1,050			—			1,076
Other assets	36			160			663			(60		)	799
Due from affiliates	18,162			8,764			—			(26,926		)	—
Investment in affiliates	8,884			6,303			—			(15,187		)	—
Total assets	$	28,445		$	23,590		$	63,165		$	(42,436	)	$	72,764
Liabilities and Shareholder's Equity
Liabilities
Secured debt	$	—		$	—		$	32,793		$	(60	)	$	32,733
Unsecured debt	19,831			—			7,807			—			27,638
Accounts payable and accrued expenses	169			222			845			—			1,236
Deferred income	—			—			1,783			—			1,783
Deferred income taxes	—			169			255			(263		)	161
Related party payables	—			—			448			—			448
Other liabilities	70			43			277			—			390
Due to affiliates	—			18,107			8,819			(26,926		)	—
Total liabilities	20,070			18,541			53,027			(27,249		)	64,389
Shareholder's equity
Common stock	—			—			698			(698		)	—
Additional paid-in capital	6,491			79			6,149			(6,228		)	6,491
Accumulated other comprehensive loss	(952		)	(136		)	(936		)	1,072			(952		)
Retained earnings	2,836			5,106			4,227			(9,333		)	2,836
Total shareholder's equity	8,375			5,049			10,138			(15,187		)	8,375
Total liabilities and shareholder's equity	$	28,445		$	23,590		$	63,165		$	(42,436	)	$	72,764

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2015

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	2,259		$	802		$	—		$	3,061
Finance receivables, net	—			4,808			31,973			—			36,781
Leased vehicles, net	—			—			20,172			—			20,172
Restricted cash	—			60			1,881			—			1,941
Goodwill	1,095			—			94			—			1,189
Equity in net assets of non-consolidated affiliates	—			—			986			—			986
Property and equipment, net	—			41			178			—			219
Deferred income taxes	212			—			179			(160		)	231
Related party receivables	—			27			546			—			573
Other assets	32			32			687			—			751
Due from affiliates	15,573			7,556			—			(23,129		)	—
Investment in affiliates	8,476			6,425			—			(14,901		)	—
Total assets	$	25,388		$	21,208		$	57,498		$	(38,190	)	$	65,904
Liabilities and Shareholder's Equity
Liabilities
Secured debt	$	—		$	—		$	30,689		$	—		$	30,689
Unsecured debt	17,087			—			6,570			—			23,657
Accounts payable and accrued expenses	181			717			320			—			1,218
Deferred income	—			—			1,454			—			1,454
Deferred income taxes	—			289			—			(160		)	129
Related party payables	—			—			362			—			362
Other liabilities	68			34			241			—			343
Due to affiliates	—			15,495			7,634			(23,129		)	—
Total liabilities	17,336			16,535			47,270			(23,289		)	57,852
Shareholder's equity
Common stock	—			—			698			(698		)	—
Additional paid-in capital	6,484			79			6,490			(6,569		)	6,484
Accumulated other comprehensive loss	(1,104		)	(175		)	(1,095		)	1,270			(1,104		)
Retained earnings	2,672			4,769			4,135			(8,904		)	2,672
Total shareholder's equity	8,052			4,673			10,228			(14,901		)	8,052
Total liabilities and shareholder's equity	$	25,388		$	21,208		$	57,498		$	(38,190	)	$	65,904

Condensed Consolidating Statement of Income

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended March 31, 2016

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	99		$	719	$	—		$	818
Leased vehicle income	—			—			1,184		—			1,184
Other income	(1		)	205			15		(146		)	73
Total revenue	(1		)	304			1,918		(146		)	2,075
Costs and expenses
Salaries and benefits	—			135			58		—			193
Other operating expenses	(4		)	68			170		(93		)	141
Total operating expenses	(4		)	203			228		(93		)	334
Leased vehicle expenses	—			—			893		—			893
Provision for loan losses	—			103			93		—			196
Interest expense	176			(30		)	370		(53		)	463
Total costs and expenses	172			276			1,584		(146		)	1,886
Equity income	255			168			36		(423		)	36
Income before income taxes	82			196			370		(423		)	225
Income tax (benefit) provision	(82		)	12			131		—			61
Net income	$	164		$	184		$	239	$	(423	)	$	164
Comprehensive income	$	316		$	223		$	398	$	(621	)	$	316

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended March 31, 2015

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	80		$	774		$	—		$	854
Leased vehicle income	—			—			431			—			431
Other income	7			108			45			(91		)	69
Total revenue	7			188			1,250			(91		)	1,354
Costs and expenses
Salaries and benefits	—			89			76			—			165
Other operating expenses	54			(3		)	154			(64		)	141
Total operating expenses	54			86			230			(64		)	306
Leased vehicle expenses	—			—			327			—			327
Provision for loan losses	—			74			81			—			155
Interest expense	94			(2		)	315			(27		)	380
Total costs and expenses	148			158			953			(91		)	1,168
Equity income	238			129			28			(367		)	28
Income before income taxes	97			159			325			(367		)	214
Income tax (benefit) provision	(53		)	11			106			—			64
Net income	$	150		$	148		$	219		$	(367	)	$	150
Comprehensive (loss) income	$	(196	)	$	90		$	(125	)	$	35		$	(196	)

Condensed Consolidating Statement of Cash Flows

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Three Months Ended March 31, 2016

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	(144	)	$	(537	)	$	1,839		$	—		$	1,158
Cash flows from investing activities
Purchases of retail finance receivables, net	—			(4,466		)	(4,388		)	4,689			(4,165		)
Principal collections and recoveries on retail finance receivables	—			359			2,912			—			3,271
Proceeds from transfer of retail finance receivables, net	—			2,866			1,823			(4,689		)	—
Net funding of commercial finance receivables	—			(227		)	(797		)	—			(1,024		)
Purchases of leased vehicles, net	—			—			(5,158		)	—			(5,158		)
Proceeds from termination of leased vehicles	—			—			481			—			481
Purchases of property and equipment	—			(15		)	(5		)	—			(20		)
Change in restricted cash	—			(6		)	(170		)	—			(176		)
Change in other assets	—			(60		)	1			60			1
Net change in due from affiliates	(2,587		)	(1,208		)	—			3,795			—
Net change in investment in affiliates	—			336			—			(336		)	—
Net cash used in investing activities	(2,587		)	(2,421		)	(5,301		)	3,519			(6,790		)
Cash flows from financing activities
Net change in debt (original maturities less than three months)	—			—			757			—			757
Borrowings and issuance of secured debt	—			—			7,114			(60		)	7,054
Payments on secured debt	—			—			(5,251		)	—			(5,251		)
Borrowings and issuance of unsecured debt	2,744			—			387			—			3,131
Payments on unsecured debt	—			—			(241		)	—			(241		)
Net capital contributions	—			—			(336		)	336			—
Debt issuance costs	(13		)	—			(13		)	—			(26		)
Net change in due to affiliates	—			2,732			1,063			(3,795		)	—
Net cash provided by financing activities	2,731			2,732			3,480			(3,519		)	5,424
Net increase (decrease) in cash and cash equivalents	—			(226		)	18			—			(208		)
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			45			—			45
Cash and cash equivalents at beginning of period	—			2,259			802			—			3,061
Cash and cash equivalents at end of period	$	—		$	2,033		$	865		$	—		$	2,898

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Three Months Ended March 31, 2015

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	(62	)	$	368		$	239		$	—		$	545
Cash flows from investing activities
Purchases of retail finance receivables, net	—			(2,955		)	(2,950		)	1,840			(4,065		)
Principal collections and recoveries on retail finance receivables	—			120			2,694			—			2,814
Proceeds from transfer of retail finance receivables, net	—			1,168			672			(1,840		)	—
Net funding of commercial finance receivables	—			150			(96		)	—			54
Purchases of leased vehicles, net	—			—			(2,319		)	—			(2,319		)
Proceeds from termination of leased vehicles	—			—			185			—			185
Acquisition of international operations	(513		)	(536		)	—			—			(1,049		)
Purchases of property and equipment	—			(8		)	(9		)	—			(17		)
Change in restricted cash	—			4			(158		)	—			(154		)
Change in other assets	—			—			6			—			6
Net change in due from affiliates	(1,607		)	(1,633		)	—			3,240			—
Net change in investment in affiliates	(48		)	571			—			(523		)	—
Net cash used in investing activities	(2,168		)	(3,119		)	(1,975		)	2,717			(4,545		)
Cash flows from financing activities
Net change in debt (original maturities less than three months)	—			—			198			—			198
Borrowings and issuance of secured debt	—			—			2,889			—			2,889
Payments on secured debt	—			—			(2,748		)	—			(2,748		)
Borrowings and issuance of unsecured debt	2,250			—			1,008			—			3,258
Payments on unsecured debt	—			—			(308		)	—			(308		)
Net capital contributions	—			—			(523		)	523			—
Debt issuance costs	(20		)	—			(21		)	—			(41		)
Net change in due to affiliates	—			1,929			1,311			(3,240		)	—
Net cash provided by financing activities	2,230			1,929			1,806			(2,717		)	3,248
Net increase (decrease) in cash and cash equivalents	—			(822		)	70			—			(752		)
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			(101		)	—			(101		)
Cash and cash equivalents at beginning of period	—			2,266			708			—			2,974
Cash and cash equivalents at end of period	$	—		$	1,444		$	677		$	—		$	2,121