Guarantor Condensed Consolidating Financial Statements (Tables)

9 Months Ended

Sep. 30, 2017

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

Condensed Consolidating Balance Sheet

CONDENSED CONSOLIDATING BALANCE SHEET

September 30, 2017

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	—		$	3,546		$	430		$	—		$	3,976
Finance receivables, net	—			10,097			30,767			—			40,864
Leased vehicles, net	—			—			41,775			—			41,775
Goodwill	1,095			—			106			—			1,201
Equity in net assets of non-consolidated affiliate	—			—			1,119			—			1,119
Related party receivables	—			38			301			—			339
Other assets	855			1,230			3,933			(1,251		)	4,767
Assets held for sale	—			—			12,095			(1		)	12,094
Due from affiliates	32,762			19,467			—			(52,229		)	—
Investment in affiliates	10,177			5,610			—			(15,787		)	—
Total assets	$	44,889		$	39,988		$	90,526		$	(69,268	)	$	106,135
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Secured debt	$	—		$	—		$	41,177		$	(402	)	$	40,775
Unsecured debt	34,047			—			4,216			—			38,263
Deferred income	—			—			3,066			—			3,066
Related party payables	2			—			251			—			253
Other liabilities	369			772			2,157			(849		)	2,449
Liabilities held for sale	—			—			10,864			(6		)	10,858
Due to affiliates	—			32,576			19,648			(52,224		)	—
Total liabilities	34,418			33,348			81,379			(53,481		)	95,664
Shareholders' equity
Common stock	—			—			698			(698		)	—
Preferred stock	—			—			—			—			—
Additional paid-in capital	7,514			79			3,450			(3,529		)	7,514
Accumulated other comprehensive loss	(935		)	(107		)	(874		)	981			(935		)
Retained earnings	3,892			6,668			5,873			(12,541		)	3,892
Total shareholders' equity	10,471			6,640			9,147			(15,787		)	10,471
Total liabilities and shareholders' equity	$	44,889		$	39,988		$	90,526		$	(69,268	)	$	106,135

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2016

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	—		$	2,284		$	531		$	—		$	2,815
Finance receivables, net	—			4,969			28,506			—			33,475
Leased vehicles, net	—			—			34,342			—			34,342
Goodwill	1,095			—			101			—			1,196
Equity in net assets of non-consolidated affiliate	—			—			944			—			944
Related party receivables	—			25			322			—			347
Other assets	506			884			3,065			(760		)	3,695
Assets held for sale	—			—			10,959			(8		)	10,951
Due from affiliates	24,548			16,065			—			(40,613		)	—
Investment in affiliates	8,986			6,445			—			(15,431		)	—
Total assets	$	35,135		$	30,672		$	78,770		$	(56,812	)	$	87,765
LIABILITIES AND SHAREHOLDER'S EQUITY
Liabilities
Secured debt	$	—		$	—		$	35,256		$	(169	)	$	35,087
Unsecured debt	26,076			—			3,400			—			29,476
Deferred income	—			—			2,355			—			2,355
Related party payables	1			—			319			—			320
Other liabilities	365			690			1,677			(591		)	2,141
Liabilities held for sale	—			—			9,694			(1		)	9,693
Due to affiliates	—			24,437			16,183			(40,620		)	—
Total liabilities	26,442			25,127			68,884			(41,381		)	79,072
Shareholder's equity
Common stock	—			—			698			(698		)	—
Additional paid-in capital	6,505			79			5,345			(5,424		)	6,505
Accumulated other comprehensive loss	(1,238		)	(161		)	(1,223		)	1,384			(1,238		)
Retained earnings	3,426			5,627			5,066			(10,693		)	3,426
Total shareholder's equity	8,693			5,545			9,886			(15,431		)	8,693
Total liabilities and shareholder's equity	$	35,135		$	30,672		$	78,770		$	(56,812	)	$	87,765

Condensed Consolidating Statement of Income

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended September 30, 2017

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	146		$	691	$	—		$	837
Leased vehicle income	—			—			2,244		—			2,244
Other income	—			306			—		(226		)	80
Total revenue	—			452			2,935		(226		)	3,161
Costs and expenses
Salaries and benefits	—			182			42		—			224
Other operating expenses	94			(48		)	203		(127		)	122
Total operating expenses	94			134			245		(127		)	346
Leased vehicle expenses	—			—			1,670		—			1,670
Provision for loan losses	—			196			8		—			204
Interest expense	301			1			469		(99		)	672
Total costs and expenses	395			331			2,392		(226		)	2,892
Equity income	461			306			41		(767		)	41
Income from continuing operations before income taxes	66			427			584		(767		)	310
Income tax (benefit) provision	(136		)	40			220		—			124
Income from continuing operations	202			387			364		(767		)	186
Income (loss) from discontinued operations, net of tax	—			(6		)	22		—			16
Net income	202			381			386		(767		)	202
Net income attributable to common shareholder	$	200		$	381		$	386	$	(767	)	$	200
Comprehensive income	$	319		$	411		$	525	$	(936	)	$	319

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended September 30, 2016

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	127		$	594	$	—		$	721
Leased vehicle income	—			—			1,582		—			1,582
Other income	—			213			15		(171		)	57
Total revenue	—			340			2,191		(171		)	2,360
Costs and expenses
Salaries and benefits	—			157			38		—			195
Other operating expenses	6			54			173		(101		)	132
Total operating expenses	6			211			211		(101		)	327
Leased vehicle expenses	—			—			1,197		—			1,197
Provision for loan losses	—			102			65		—			167
Interest expense	171			54			356		(70		)	511
Total costs and expenses	177			367			1,829		(171		)	2,202
Equity income	267			202			36		(469		)	36
Income from continuing operations before income taxes	90			175			398		(469		)	194
Income tax (benefit) provision	(72		)	(17		)	149		—			60
Income from continuing operations	162			192			249		(469		)	134
(Loss) income from discontinued operations, net of tax	(15		)	—			28		—			13
Net income	$	147		$	192		$	277	$	(469	)	$	147
Comprehensive income	$	136		$	183		$	270	$	(453	)	$	136

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Nine Months Ended September 30, 2017

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	375		$	2,026		$	—		$	2,401
Leased vehicle income	—			—			6,282			—			6,282
Other income	—			870			(15		)	(639		)	216
Total revenue	—			1,245			8,293			(639		)	8,899
Costs and expenses
Salaries and benefits	—			504			117			—			621
Other operating expenses	200			(43		)	587			(356		)	388
Total operating expenses	200			461			704			(356		)	1,009
Leased vehicle expenses	—			—			4,648			—			4,648
Provision for loan losses	—			356			217			—			573
Interest expense	883			(28		)	1,331			(283		)	1,903
Total costs and expenses	1,083			789			6,900			(639		)	8,133
Equity income	1,051			797			129			(1,848		)	129
(Loss) income from continuing operations before income taxes	(32		)	1,253			1,522			(1,848		)	895
Income tax (benefit) provision	(498		)	199			559			—			260
Income from continuing operations	466			1,054			963			(1,848		)	635
Income (loss) from discontinued operations, net of tax	—			(13		)	(156		)	—			(169		)
Net income	466			1,041			807			(1,848		)	466
Net income attributable to common shareholder	$	464		$	1,041		$	807		$	(1,848	)	$	464
Comprehensive income	$	769		$	1,095		$	1,156		$	(2,251	)	$	769

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Nine Months Ended September 30, 2016

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	344		$	1,766	$	—		$	2,110
Leased vehicle income	—			—			4,144		—			4,144
Other income	(1		)	628			28		(480		)	175
Total revenue	(1		)	972			5,938		(480		)	6,429
Costs and expenses
Salaries and benefits	—			432			104		—			536
Other operating expenses	2			175			475		(292		)	360
Total operating expenses	2			607			579		(292		)	896
Leased vehicle expenses	—			—			3,148		—			3,148
Provision for loan losses	—			282			219		—			501
Interest expense	612			(67		)	1,036		(188		)	1,393
Total costs and expenses	614			822			4,982		(480		)	5,938
Equity income	858			538			109		(1,396		)	109
Income from continuing operations before income taxes	243			688			1,065		(1,396		)	600
Income tax (benefit) provision	(272		)	63			394		—			185
Income from continuing operations	515			625			671		(1,396		)	415
(Loss) income from discontinued operations, net of tax	(15		)	—			100		—			85
Net income	$	500		$	625		$	771	$	(1,396	)	$	500
Comprehensive income	$	555		$	653		$	837	$	(1,490	)	$	555

Condensed Consolidating Statement of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Nine Months Ended September 30, 2017

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities - continuing operations	$	(690	)	$	616		$	4,869		$	—		$	4,795
Net cash provided by (used in) operating activities - discontinued operations	26			(24		)	241			—			243
Net cash (used in) provided by operating activities	(664		)	592			5,110			—			5,038
Cash flows from investing activities
Purchases of retail finance receivables, net	—			(15,709		)	(11,312		)	11,754			(15,267		)
Principal collections and recoveries on retail finance receivables	—			1,875			7,535			—			9,410
Proceeds from transfer of retail finance receivables, net	—			8,787			2,967			(11,754		)	—
Net funding of commercial finance receivables	—			(429		)	(1,128		)	—			(1,557		)
Purchases of leased vehicles, net	—			—			(14,809		)	—			(14,809		)
Proceeds from termination of leased vehicles	—			—			4,649			—			4,649
Other investing activities	—			(288		)	(10		)	233			(65		)
Net change in due from affiliates	(8,213		)	(3,397		)	—			11,610			—
Net change in investment in affiliates	54			1,686			—			(1,740		)	—
Net cash used in investing activities - continuing operations	(8,159		)	(7,475		)	(12,108		)	10,103			(17,639		)
Net cash provided by (used in) investing activities - discontinued operations	131			—			(599		)	—			(468		)
Net cash used in investing activities	(8,028		)	(7,475		)	(12,707		)	10,103			(18,107		)
Cash flows from financing activities
Net change in debt (original maturities less than three months)	66			—			(371		)	—			(305		)
Borrowings and issuance of secured debt	—			—			26,964			(233		)	26,731
Payments on secured debt	—			—			(20,905		)	—			(20,905		)
Borrowings and issuance of unsecured debt	10,133			—			2,493			—			12,626
Payments on unsecured debt	(2,450		)	—			(1,925		)	—			(4,375		)
Debt issuance costs	(42		)	—			(89		)	—			(131		)
Proceeds from issuance of preferred stock	985			—			—			—			985
Net capital contributions	—			—			(1,740		)	1,740			—
Net change in due to affiliates	—			8,145			3,465			(11,610		)	—
Net cash provided by financing activities - continuing operations	8,692			8,145			7,892			(10,103		)	14,626
Net cash provided by financing activities - discontinued operations	—			—			63			—			63
Net cash provided by financing activities	8,692			8,145			7,955			(10,103		)	14,689
Net increase in cash, cash equivalents and restricted cash	—			1,262			358			—			1,620
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	—			—			112			—			112
Cash, cash equivalents and restricted cash at beginning of period	—			2,284			3,018			—			5,302
Cash, cash equivalents and restricted cash at end of period	$	—		$	3,546		$	3,488		$	—		$	7,034
Cash, cash equivalents and restricted cash from continuing operations at end of period	$	—		$	3,546		$	2,923		$	—		$	6,469
Cash, cash equivalents and restricted cash from discontinued operations at end of period	$	—		$	—		$	565		$	—		$	565

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidating balance sheet:

	General Motors Financial Company, Inc.		Guarantor		Non- Guarantors		Eliminations		Consolidated
Cash and cash equivalents	$	—	$	3,546	$	430	$	—	$	3,976
Restricted cash included in other assets	—		—		2,493		—		2,493
Total	$	—	$	3,546	$	2,923	$	—	$	6,469

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Nine Months Ended September 30, 2016

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities - continuing operations	$	(454	)	$	(389	)	$	4,409		$	—		$	3,566
Net cash provided by operating activities - discontinued operations	(15		)	10			295			—			290
Net cash (used in) provided by operating activities	(469		)	(379		)	4,704			—			3,856
Cash flows from investing activities
Purchases of retail finance receivables, net	—			(12,676		)	(10,047		)	12,315			(10,408		)
Principal collections and recoveries on retail finance receivables	—			1,274			6,094			—			7,368
Proceeds from transfer of retail finance receivables, net	—			8,232			4,083			(12,315		)	—
Net funding of commercial finance receivables	—			(335		)	(810		)	—			(1,145		)
Purchases of leased vehicles, net	—			—			(14,939		)	—			(14,939		)
Proceeds from termination of leased vehicles	—			—			1,799			—			1,799
Other investing activities	—			(219		)	(9		)	169			(59		)
Net change in due from affiliates	(7,506		)	(6,621		)	—			14,127			—
Net change in investment in affiliates	24			2,473			—			(2,497		)	—
Net cash used in investing activities - continuing operations	(7,482		)	(7,872		)	(13,829		)	11,799			(17,384		)
Net cash used in investing activities - discontinued operations	—			—			(949		)	—			(949		)
Net cash used in investing activities	(7,482		)	(7,872		)	(14,778		)	11,799			(18,333		)
Cash flows from financing activities
Net change in debt (original maturities less than three months)	1			—			(302		)	—			(301		)
Borrowings and issuance of secured debt	—			—			18,589			(169		)	18,420
Payments on secured debt	—			—			(12,525		)	—			(12,525		)
Borrowings and issuance of unsecured debt	8,987			—			1,371			—			10,358
Payments on unsecured debt	(1,000		)	—			(1,345		)	—			(2,345		)
Debt issuance costs	(37		)	—			(75		)	—			(112		)
Net capital contributions	—			—			(2,497		)	2,497			—
Net change in due to affiliates	—			7,643			6,484			(14,127		)	—
Net cash provided by financing activities - continuing operations	7,951			7,643			9,700			(11,799		)	13,495
Net cash provided by financing activities - discontinued operations	—			—			601			—			601
Net cash provided by financing activities	7,951			7,643			10,301			(11,799		)	14,096
Net increase (decrease) in cash, cash equivalents and restricted cash	—			(608		)	227			—			(381		)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	—			—			22			—			22
Cash, cash equivalents and restricted cash at beginning of period	—			2,319			2,683			—			5,002
Cash, cash equivalents and restricted cash at end of period	$	—		$	1,711		$	2,932		$	—		$	4,643
Cash, cash equivalents and restricted cash from continuing operations at end of period	$	—		$	1,711		$	2,207		$	—		$	3,918
Cash, cash equivalents and restricted cash from discontinued operations at end of period	$	—		$	—		$	725		$	—		$	725