Guarantor Condensed Consolidating Financial Statements (Tables)

6 Months Ended

Jun. 30, 2016

Guarantor Consolidating Financial Statements [abstract]

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

June 30, 2016

(In millions) (Unaudited)



	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	2,209		$	893		$	—		$	3,102
Finance receivables, net	—			6,805			32,625			—			39,430
Leased vehicles, net	—			—			28,442			—			28,442
Restricted cash	—			14			1,996			—			2,010
Goodwill	1,095			—			105			—			1,200
Equity in net assets of non-consolidated affiliates	—			—			879			—			879
Property and equipment, net	—			119			126			—			245
Deferred income taxes	340			—			264			(297		)	307
Related party receivables	—			27			952			—			979
Other assets	20			361			767			(139		)	1,009
Due from affiliates	20,087			10,514			—			(30,601		)	—
Investment in affiliates	9,127			6,082			—			(15,209		)	—
Total assets	$	30,669		$	26,131		$	67,049		$	(46,246	)	$	77,603
Liabilities and Shareholder's Equity
Liabilities
Secured debt	$	—		$	—		$	34,477		$	(139	)	$	34,338
Unsecured debt	21,887			—			8,275			—			30,162
Accounts payable and accrued expenses	244			385			908			—			1,537
Deferred income	—			—			2,035			—			2,035
Deferred income taxes	—			392			156			(297		)	251
Related party payables	1			—			448			—			449
Other liabilities	64			15			279			—			358
Due to affiliates	—			20,042			10,559			(30,601		)	—
Total liabilities	22,196			20,834			57,137			(31,037		)	69,130
Shareholder's equity
Common stock	—			—			698			(698		)	—
Additional paid-in capital	6,486			79			5,754			(5,833		)	6,486
Accumulated other comprehensive loss	(1,038		)	(138		)	(1,022		)	1,160			(1,038		)
Retained earnings	3,025			5,356			4,482			(9,838		)	3,025
Total shareholder's equity	8,473			5,297			9,912			(15,209		)	8,473
Total liabilities and shareholder's equity	$	30,669		$	26,131		$	67,049		$	(46,246	)	$	77,603

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 June 30, 2016

(In millions) (Unaudited)



	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	118		$	708	$	—		$	826
Leased vehicle income	—			—			1,390		—			1,390
Other income	—			210			29		(163		)	76
Total revenue	—			328			2,127		(163		)	2,292
Costs and expenses
Salaries and benefits	—			140			63		—			203
Other operating expenses	—			53			185		(98		)	140
Total operating expenses	—			193			248		(98		)	343
Leased vehicle expenses	—			—			1,068		—			1,068
Provision for loan losses	—			77			74		—			151
Interest expense	265			(91		)	392		(65		)	501
Total costs and expenses	265			179			1,782		(163		)	2,063
Equity income	336			168			37		(504		)	37
Income before income taxes	71			317			382		(504		)	266
Income tax (benefit) provision	(118		)	68			127		—			77
Net income	$	189		$	249		$	255	$	(504	)	$	189

Comprehensive income	$	103		$	247		$	169	$	(416	)	$	103

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended June 30, 2015

(In millions) (Unaudited)



	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	100		$	748	$	—		$	848
Leased vehicle income	—			—			599		—			599
Other income	4			118			40		(94		)	68
Total revenue	4			218			1,387		(94		)	1,515
Costs and expenses
Salaries and benefits	—			77			104		—			181
Other operating expenses	(19		)	73			149		(65		)	138
Total operating expenses	(19		)	150			253		(65		)	319
Leased vehicle expenses	—			—			467		—			467
Provision for loan losses	—			116			25		—			141
Interest expense	114			3			303		(29		)	391
Total costs and expenses	95			269			1,048		(94		)	1,318
Equity income	223			156			28		(379		)	28
Income before income taxes	132			105			367		(379		)	225
Income tax (benefit) provision	(54		)	(20		)	113		—			39
Net income	$	186		$	125		$	254	$	(379	)	$	186

Comprehensive income	$	291		$	139		$	353	$	(492	)	$	291

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Six Months Ended June 30, 2016

(In millions) (Unaudited)



	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	217		$	1,427	$	—		$	1,644
Leased vehicle income	—			—			2,574		—			2,574
Other income	(1		)	415			44		(309		)	149
Total revenue	(1		)	632			4,045		(309		)	4,367
Costs and expenses
Salaries and benefits	—			275			121		—			396
Other operating expenses	(4		)	121			355		(191		)	281
Total operating expenses	(4		)	396			476		(191		)	677
Leased vehicle expenses	—			—			1,961		—			1,961
Provision for loan losses	—			180			167		—			347
Interest expense	441			(121		)	762		(118		)	964
Total costs and expenses	437			455			3,366		(309		)	3,949
Equity income	591			336			73		(927		)	73
Income before income taxes	153			513			752		(927		)	491
Income tax (benefit) provision	(200		)	80			258		—			138
Net income	$	353		$	433		$	494	$	(927	)	$	353

Comprehensive income	$	419		$	470		$	567	$	(1,037	)	$	419

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Six Months Ended June 30, 2015

(In millions) (Unaudited)



	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	180		$	1,522	$	—		$	1,702
Leased vehicle income	—			—			1,030		—			1,030
Other income	11			226			85		(185		)	137
Total revenue	11			406			2,637		(185		)	2,869
Costs and expenses
Salaries and benefits	—			166			180		—			346
Other operating expenses	35			70			303		(129		)	279
Total operating expenses	35			236			483		(129		)	625
Leased vehicle expenses	—			—			794		—			794
Provision for loan losses	—			190			106		—			296
Interest expense	208			1			618		(56		)	771
Total costs and expenses	243			427			2,001		(185		)	2,486
Equity income	461			285			56		(746		)	56
Income before income taxes	229			264			692		(746		)	439
Income tax (benefit) provision	(107		)	(9		)	219		—			103
Net income	$	336		$	273		$	473	$	(746	)	$	336

Comprehensive income	$	95		$	229		$	228	$	(457	)	$	95

Condensed Consolidating Statement of Cash Flows

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Six Months Ended June 30, 2016

(In millions) (Unaudited)



	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	(218	)	$	(151	)	$	2,987		$	—		$	2,618
Cash flows from investing activities
Purchases of retail finance receivables, net	—			(8,110		)	(8,423		)	8,190			(8,343		)
Principal collections and recoveries on retail finance receivables	—			780			5,861			—			6,641
Proceeds from transfer of retail finance receivables, net	—			5,250			2,940			(8,190		)	—
Net funding of commercial finance receivables	—			(124		)	(1,238		)	—			(1,362		)
Purchases of leased vehicles, net	—			—			(10,196		)	—			(10,196		)
Proceeds from termination of leased vehicles	—			—			1,090			—			1,090
Purchases of property and equipment	—			(35		)	(12		)	—			(47		)
Change in restricted cash	—			46			(118		)	—			(72		)
Change in other assets	—			(139		)	(4		)	139			(4		)
Net change in due from affiliates	(4,503		)	(2,958		)	—			7,461			—
Net change in investment in affiliates	6			723			—			(729		)	—
Net cash used in investing activities	(4,497		)	(4,567		)	(10,100		)	6,871			(12,293		)
Cash flows from financing activities
Net change in debt (original maturities less than three months)	—			—			405			—			405
Borrowings and issuance of secured debt	—			—			13,986			(139		)	13,847
Payments on secured debt	—			—			(10,039		)	—			(10,039		)
Borrowings and issuance of unsecured debt	5,740			—			1,566			—			7,306
Payments on unsecured debt	(1,000		)	—			(758		)	—			(1,758		)
Net capital contributions	—			—			(729		)	729			—
Debt issuance costs	(25		)	—			(58		)	—			(83		)
Net change in due to affiliates	—			4,668			2,793			(7,461		)	—
Net cash provided by financing activities	4,715			4,668			7,166			(6,871		)	9,678
Net increase (decrease) in cash and cash equivalents	—			(50		)	53			—			3
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			38			—			38
Cash and cash equivalents at beginning of period	—			2,259			802			—			3,061
Cash and cash equivalents at end of period	$	—		$	2,209		$	893		$	—		$	3,102

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Six Months Ended June 30, 2015

(In millions) (Unaudited)



	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	(102	)	$	150		$	1,217		$	—		$	1,265
Cash flows from investing activities
Purchases of retail finance receivables, net	—			(5,684		)	(6,823		)	4,141			(8,366		)
Principal collections and recoveries on retail finance receivables	—			246			5,470			—			5,716
Proceeds from transfer of retail finance receivables, net	—			3,380			761			(4,141		)	—
Net funding of commercial finance receivables	—			139			(176		)	—			(37		)
Purchases of leased vehicles, net	—			—			(6,724		)	—			(6,724		)
Proceeds from termination of leased vehicles	—			—			468			—			468
Acquisition of international operations	(513		)	(536		)	—			—			(1,049		)
Disposition of equity interest	—			125			—			—			125
Purchases of property and equipment	—			(12		)	(32		)	—			(44		)
Change in restricted cash	—			(13		)	(127		)	—			(140		)
Change in other assets	—			—			17			—			17
Net change in due from affiliates	(3,983		)	(3,225		)	—			7,208			—
Net change in investment in affiliates	(6		)	(355		)	—			361			—
Net cash used in investing activities	(4,502		)	(5,935		)	(7,166		)	7,569			(10,034		)
Cash flows from financing activities
Net change in debt (original maturities less than three months)	—			—			(150		)	—			(150		)
Borrowings and issuance of secured debt	—			—			9,791			—			9,791
Payments on secured debt	—			—			(7,406		)	—			(7,406		)
Borrowings and issuance of unsecured debt	4,640			—			2,057			—			6,697
Payments on unsecured debt	—			—			(871		)	—			(871		)
Net capital contributions	—			—			361			(361		)	—
Debt issuance costs	(36		)	—			(65		)	—			(101		)
Net change in due to affiliates	—			4,680			2,528			(7,208		)	—
Net cash provided by financing activities	4,604			4,680			6,245			(7,569		)	7,960
Net increase (decrease) in cash and cash equivalents	—			(1,105		)	296			—			(809		)
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			(95		)	—			(95		)
Cash and cash equivalents at beginning of period	—			2,266			708			—			2,974
Cash and cash equivalents at end of period	$	—		$	1,161		$	909		$	—		$	2,070