Guarantor Condensed Consolidating Financial Statements (Tables)

3 Months Ended

Mar. 31, 2018

Condensed Financial Information of Parent Company Only Disclosure [Abstract]

CONDENSED CONSOLIDATING BALANCE SHEET

March 31, 2018

(Unaudited)



	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	—		$	3,086		$	1,092		$	—		$	4,178
Finance receivables, net	—			11,114			32,659			—			43,773
Leased vehicles, net	—			—			43,444			—			43,444
Goodwill	1,095			—			103			—			1,198
Equity in net assets of non-consolidated affiliate	—			—			1,281			—			1,281
Related party receivables	—			91			568			—			659
Other assets	633			2,045			4,899			(1,088		)	6,489
Due from affiliates	38,038			23,975			—			(62,013		)	—
Investment in affiliates	10,436			6,844			—			(17,280		)	—
Total assets	$	50,202		$	47,155		$	84,046		$	(80,381	)	$	101,022
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Secured debt	$	—		$	—		$	39,871		$	(430	)	$	39,441
Unsecured debt	39,055			—			5,024			—			44,079
Deferred income	—			—			3,336			—			3,336
Related party payables	2			—			130			—			132
Other liabilities	397			1,429			2,118			(658		)	3,286
Due to affiliates	—			37,772			24,241			(62,013		)	—
Total liabilities	39,454			39,201			74,720			(63,101		)	90,274
Shareholders' equity
Common stock	—			—			698			(698		)	—
Preferred stock	—			—			—			—			—
Additional paid-in capital	7,541			79			2,128			(2,207		)	7,541
Accumulated other comprehensive loss	(708		)	(133		)	(661		)	794			(708		)
Retained earnings	3,915			8,008			7,161			(15,169		)	3,915
Total shareholders' equity	10,748			7,954			9,326			(17,280		)	10,748
Total liabilities and shareholders' equity	$	50,202		$	47,155		$	84,046		$	(80,381	)	$	101,022

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2017

(Unaudited)



	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
ASSETS
Cash and cash equivalents	$	—		$	3,535		$	730		$	—		$	4,265
Finance receivables, net	—			9,569			32,603			—			42,172
Leased vehicles, net	—			—			42,882			—			42,882
Goodwill	1,095			—			102			—			1,197
Equity in net assets of non-consolidated affiliate	—			—			1,187			—			1,187
Related party receivables	2			23			284			—			309
Other assets	558			1,497			3,920			(972		)	5,003
Due from affiliates	35,312			22,603			—			(57,915		)	—
Investment in affiliates	9,870			6,426			—			(16,296		)	—
Total assets	$	46,837		$	43,653		$	81,708		$	(75,183	)	$	97,015
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Secured debt	$	—		$	—		$	40,289		$	(402	)	$	39,887
Unsecured debt	36,145			—			4,685			—			40,830
Deferred income	—			—			3,221			—			3,221
Related party payables	2			—			90			—			92
Other liabilities	396			967			1,898			(570		)	2,691
Due to affiliates	—			35,110			22,805			(57,915		)	—
Total liabilities	36,543			36,077			72,988			(58,887		)	86,721
Shareholders' equity
Common stock	—			—			698			(698		)	—
Preferred stock	—			—			—			—			—
Additional paid-in capital	7,525			79			2,123			(2,202		)	7,525
Accumulated other comprehensive loss	(768		)	(109		)	(714		)	823			(768		)
Retained earnings	3,537			7,606			6,613			(14,219		)	3,537
Total shareholders' equity	10,294			7,576			8,720			(16,296		)	10,294
Total liabilities and shareholders' equity	$	46,837		$	43,653		$	81,708		$	(75,183	)	$	97,015

Condensed Consolidating Statement of Income

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended March 31, 2018

(Unaudited)



	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	169		$	697	$	—		$	866
Leased vehicle income	—			—			2,447		—			2,447
Other income	2			311			28		(243		)	98
Total revenue	2			480			3,172		(243		)	3,411
Costs and expenses
Salaries and benefits	—			181			40		—			221
Other operating expenses	82			(16		)	216		(138		)	144
Total operating expenses	82			165			256		(138		)	365
Leased vehicle expenses	—			—			1,787		—			1,787
Provision for loan losses	—			88			48		—			136
Interest expense	101			290			446		(105		)	732
Total costs and expenses	183			543			2,537		(243		)	3,020
Equity income	475			442			52		(917		)	52
Income before income taxes	294			379			687		(917		)	443
Income tax (benefit) provision	(75		)	(23		)	172		—			74
Net income	369			402			515		(917		)	369

Net income attributable to common shareholder	$	355		$	402		$	515	$	(917	)	$	355

Comprehensive income	$	429		$	378		$	568	$	(946	)	$	429

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended March 31, 2017

(Unaudited)



	General Motors Financial Company, Inc.			Guarantor		Non- Guarantors			Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	95	$	657		$	—		$	752
Leased vehicle income	—			—		1,931			—			1,931
Other income	—			273		(9		)	(199		)	65
Total revenue	—			368		2,579			(199		)	2,748
Costs and expenses
Salaries and benefits	—			163		36			—			199
Other operating expenses	7			44		190			(110		)	131
Total operating expenses	7			207		226			(110		)	330
Leased vehicle expenses	—			—		1,429			—			1,429
Provision for loan losses	—			73		138			—			211
Interest expense	235			33		417			(89		)	596
Total costs and expenses	242			313		2,210			(199		)	2,566
Equity income	315			215		47			(530		)	47
Income from continuing operations before income taxes	73			270		416			(530		)	229
Income tax (benefit) provision	(129		)	26		153			—			50
Income from continuing operations	202			244		263			(530		)	179
Income from discontinued operations, net of tax	—			—		23			—			23
Net income	$	202		$	244	$	286		$	(530	)	$	202

Comprehensive income	$	292		$	248	$	386		$	(634	)	$	292

Condensed Consolidating Statement of Cash Flows

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Three Months Ended March 31, 2018

(Unaudited)



	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities	$	(324	)	$	(47	)	$	2,040		$	—		$	1,669
Cash flows from investing activities
Purchases of retail finance receivables, net	—			(5,289		)	(4,074		)	4,290			(5,073		)
Principal collections and recoveries on retail finance receivables	—			828			2,748			—			3,576
Proceeds from transfer of retail finance receivables, net	—			3,135			1,155			(4,290		)	—
Net funding (collections) of commercial finance receivables	—			(322		)	354			—			32
Purchases of leased vehicles, net	—			—			(4,496		)	—			(4,496		)
Proceeds from termination of leased vehicles	—			—			2,379			—			2,379
Other investing activities	—			(44		)	(4		)	28			(20		)
Net change in due from affiliates	(2,726		)	(1,372		)	—			4,098			—
Net change in investment in affiliates	(5		)	—			5			—			—
Net cash used in investing activities	(2,731		)	(3,064		)	(1,933		)	4,126			(3,602		)
Cash flows from financing activities
Net change in debt (original maturities less than three months)	48			—			(25		)	—			23
Borrowings and issuances of secured debt	—			—			5,630			(28		)	5,602
Payments on secured debt	—			—			(6,166		)	—			(6,166		)
Borrowings and issuances of unsecured debt	3,053			—			808			—			3,861
Payments on unsecured debt	—			—			(486		)	—			(486		)
Debt issuance costs	(16		)	—			(24		)	—			(40		)
Dividends paid	(30		)	—			—			—			(30		)
Net capital contributions	—			—			—			—			—
Net change in due to affiliates	—			2,662			1,436			(4,098		)	—
Net cash provided by financing activities	3,055			2,662			1,173			(4,126		)	2,764
Net increase (decrease) in cash, cash equivalents and restricted cash	—			(449		)	1,280			—			831
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	—			—			8			—			8
Cash, cash equivalents and restricted cash at beginning of period	—			3,535			3,032			—			6,567
Cash, cash equivalents and restricted cash at end of period	$	—		$	3,086		$	4,320		$	—		$	7,406

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	$	—	$	3,086	$	1,092	$	—	$	4,178
Restricted cash included in other assets	—		—		3,228		—		3,228
Total	$	—	$	3,086	$	4,320	$	—	$	7,406

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Three Months Ended March 31, 2017

(Unaudited)



	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash (used in) provided by operating activities - continuing operations	$	(273	)	$	117		$	1,511		$	—		$	1,355
Net cash provided by (used in) operating activities - discontinued operations	—			(14		)	75			—			61
Net cash (used in) provided by operating activities	(273		)	103			1,586			—			1,416
Cash flows from investing activities
Purchases of retail finance receivables, net	—			(4,920		)	(2,924		)	2,369			(5,475		)
Principal collections and recoveries on retail finance receivables	—			450			2,360			—			2,810
Proceeds from transfer of retail finance receivables, net	—			2,095			274			(2,369		)	—
Net funding of commercial finance receivables	—			(194		)	(383		)	—			(577		)
Purchases of leased vehicles, net	—			—			(4,760		)	—			(4,760		)
Proceeds from termination of leased vehicles	—			—			1,079			—			1,079
Other investing activities	—			(98		)	(1		)	79			(20		)
Net change in due from affiliates	(2,230		)	80			—			2,150			—
Net change in investment in affiliates	—			694			—			(694		)	—
Net cash used in investing activities - continuing operations	(2,230		)	(1,893		)	(4,355		)	1,535			(6,943		)
Net cash provided by (used in) investing activities - discontinued operations	—			—			(140		)	—			(140		)
Net cash used in investing activities	(2,230		)	(1,893		)	(4,495		)	1,535			(7,083		)
Cash flows from financing activities
Net change in debt (original maturities less than three months)	17			—			(377		)	—			(360		)
Borrowings and issuances of secured debt	—			—			8,134			(79		)	8,055
Payments on secured debt	—			—			(4,440		)	—			(4,440		)
Borrowings and issuances of unsecured debt	2,497			—			471			—			2,968
Payments on unsecured debt	—			—			(531		)	—			(531		)
Debt issuance costs	(11		)	—			(16		)	—			(27		)
Net capital contributions	—			—			(694		)	694			—
Net change in due to affiliates	—			1,546			604			(2,150		)	—
Net cash provided by financing activities - continuing operations	2,503			1,546			3,151			(1,535		)	5,665
Net cash provided by (used in) financing activities - discontinued operations	—			—			(10		)	—			(10		)
Net cash provided by financing activities	2,503			1,546			3,141			(1,535		)	5,655
Net increase (decrease) in cash, cash equivalents and restricted cash	—			(244		)	232			—			(12		)
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash	—			—			37			—			37
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	$	—		$	2,040		$	3,287		$	—		$	5,327
Cash, cash equivalents and restricted cash from continuing operations at end of period	$	—		$	2,040		$	2,697		$	—		$	4,737
Cash, cash equivalents and restricted cash from discontinued operations at end of period	$	—		$	—		$	590		$	—		$	590