Variable Interest Entities

3 Months Ended

Mar. 31, 2017

Variable Interest Entities [Abstract]

Variable Interest Entities

Variable Interest Entities

Securitizations and Credit Facilities

The following table summarizes the assets and liabilities related to our consolidated VIEs:

	March 31, 2017		December 31, 2016
Restricted cash(a)	$	2,598	$	2,067
Finance receivables, net of fees	$	30,370	$	29,661
Lease related assets	$	23,154	$	19,341
Secured debt	$	41,671	$	38,244

_______________

(a) Included in other assets in the condensed consolidated balance sheets.

These amounts are related to securitization and credit facilities held by consolidated VIEs. Our continuing involvement with these VIEs consists of servicing assets held by the entities and holding residual interests in the entities. We have determined that we are the primary beneficiary of each VIE because we hold both (i) the power to direct the activities of the VIEs that most significantly impact the VIEs' economic performance and (ii) the obligation to absorb losses from and the right to receive benefits of the VIEs that could potentially be significant to the VIEs. We are not required, and do not currently intend, to provide any additional financial support to these VIEs. Liabilities recognized as a result of consolidating these entities generally do not represent claims against us or our other subsidiaries and assets recognized generally are for the benefit of these entities operations and cannot be used to satisfy our or our subsidiaries obligations.

Other VIEsWe consolidate certain operating entities that provide auto finance and financial services, which we do not control through a majority voting interest. We manage these entities and maintain a controlling financial interest in them and are exposed to the risks of ownership through contractual arrangements. The majority voting interests in these entities are indirectly wholly-owned by our parent, GM. The amounts presented below are stated prior to intercompany eliminations and include amounts related to securitizations and credit facilities held by consolidated VIEs. The following table summarizes the assets and liabilities of these VIEs:

	March 31, 2017		December 31, 2016
Assets(a)	$	4,312	$	4,251
Liabilities(b)	$	3,604	$	3,559

_________________

(a) Comprised primarily of finance receivables, net of $3.6 billion and $3.5 billion at March 31, 2017 and December 31, 2016.

(b) Comprised primarily of debt of $3.0 billion and $3.0 billion at March 31, 2017 and December 31, 2016.

The following table summarizes the revenue and net income of these VIEs:

	Three Months Ended March 31,
	2017		2016
Total revenue	$	51	$	47
Net income	$	6	$	7