Discontinued Operations

12 Months Ended

Dec. 31, 2019

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

On October 31, 2017, we completed the sale of our European Operations to Banque PSA Finance S.A. and BNP Paribas Personal Finance S.A.

The net consideration paid at closing for our European Operations was $1.1 billion, and we recognized a disposal loss of $525 million, which includes $197 million related to the recognition of foreign currency translation losses. Following the sale of our European Operations, we paid a $550 million special dividend to GM.

The following table summarizes the results of operations of the European Operations:

	Year Ended December 31, 2017
Total revenue	$	474
Interest expense	79
Other expenses	263
Total costs and expenses	342
Income from discontinued operations before income taxes	132
Loss on sale of discontinued operations before income taxes	525
Loss from discontinued operations before income taxes	(393		)
Income tax provision	31
Loss from discontinued operations, net of tax	$	(424	)