0000804269-22-000042.txt : 20220726 0000804269-22-000042.hdr.sgml : 20220726 20220726145344 ACCESSION NUMBER: 0000804269-22-000042 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 73 CONFORMED PERIOD OF REPORT: 20220630 FILED AS OF DATE: 20220726 DATE AS OF CHANGE: 20220726 FILER: COMPANY DATA: COMPANY CONFORMED NAME: General Motors Financial Company, Inc. CENTRAL INDEX KEY: 0000804269 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE SERVICES [6199] IRS NUMBER: 752291093 STATE OF INCORPORATION: TX FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 001-10667 FILM NUMBER: 221106517 BUSINESS ADDRESS: STREET 1: 801 CHERRY STREET STREET 2: SUITE 3500 CITY: FORT WORTH STATE: TX ZIP: 76102 BUSINESS PHONE: 8173027000 MAIL ADDRESS: STREET 1: 801 CHERRY ST STREET 2: SUITE 3500 CITY: FORT WORTH STATE: TX ZIP: 76102 FORMER COMPANY: FORMER CONFORMED NAME: AMERICREDIT CORP DATE OF NAME CHANGE: 19930930 FORMER COMPANY: FORMER CONFORMED NAME: URCARCO INC DATE OF NAME CHANGE: 19920703 10-Q 1 acf-20220630.htm 10-Q acf-20220630
FALSE2022Q2000080426912/3100008042692022-01-012022-06-3000008042692022-07-25xbrli:shares00008042692022-06-30iso4217:USD00008042692021-12-31iso4217:USDxbrli:shares00008042692022-04-012022-06-3000008042692021-04-012021-06-3000008042692021-01-012021-06-300000804269us-gaap:CommonStockMember2020-12-310000804269us-gaap:PreferredStockMember2020-12-310000804269us-gaap:AdditionalPaidInCapitalMember2020-12-310000804269us-gaap:AccumulatedOtherComprehensiveIncomeMember2020-12-310000804269us-gaap:RetainedEarningsMember2020-12-3100008042692020-12-310000804269us-gaap:RetainedEarningsMember2021-01-012021-03-3100008042692021-01-012021-03-310000804269us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-03-310000804269us-gaap:AdditionalPaidInCapitalMember2021-01-012021-03-310000804269us-gaap:CommonStockMember2021-03-310000804269us-gaap:PreferredStockMember2021-03-310000804269us-gaap:AdditionalPaidInCapitalMember2021-03-310000804269us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-03-310000804269us-gaap:RetainedEarningsMember2021-03-3100008042692021-03-310000804269us-gaap:RetainedEarningsMember2021-04-012021-06-300000804269us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-04-012021-06-300000804269us-gaap:AdditionalPaidInCapitalMember2021-04-012021-06-300000804269us-gaap:CommonStockMember2021-06-300000804269us-gaap:PreferredStockMember2021-06-300000804269us-gaap:AdditionalPaidInCapitalMember2021-06-300000804269us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-06-300000804269us-gaap:RetainedEarningsMember2021-06-3000008042692021-06-300000804269us-gaap:CommonStockMember2021-12-310000804269us-gaap:PreferredStockMember2021-12-310000804269us-gaap:AdditionalPaidInCapitalMember2021-12-310000804269us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-12-310000804269us-gaap:RetainedEarningsMember2021-12-310000804269us-gaap:RetainedEarningsMember2022-01-012022-03-3100008042692022-01-012022-03-310000804269us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-03-310000804269us-gaap:AdditionalPaidInCapitalMember2022-01-012022-03-310000804269us-gaap:CommonStockMember2022-03-310000804269us-gaap:PreferredStockMember2022-03-310000804269us-gaap:AdditionalPaidInCapitalMember2022-03-310000804269us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-03-310000804269us-gaap:RetainedEarningsMember2022-03-3100008042692022-03-310000804269us-gaap:RetainedEarningsMember2022-04-012022-06-300000804269us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-04-012022-06-300000804269us-gaap:AdditionalPaidInCapitalMember2022-04-012022-06-300000804269us-gaap:CommonStockMember2022-06-300000804269us-gaap:PreferredStockMember2022-06-300000804269us-gaap:AdditionalPaidInCapitalMember2022-06-300000804269us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-06-300000804269us-gaap:RetainedEarningsMember2022-06-30acf:segment0000804269srt:AffiliatedEntityMemberus-gaap:CommercialPortfolioSegmentMember2022-06-300000804269srt:AffiliatedEntityMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000804269srt:AffiliatedEntityMember2022-06-300000804269srt:AffiliatedEntityMember2021-12-310000804269srt:AffiliatedEntityMemberus-gaap:ConsumerPortfolioSegmentMember2022-04-012022-06-300000804269srt:AffiliatedEntityMemberus-gaap:ConsumerPortfolioSegmentMember2021-04-012021-06-300000804269srt:AffiliatedEntityMemberus-gaap:ConsumerPortfolioSegmentMember2022-01-012022-06-300000804269srt:AffiliatedEntityMemberus-gaap:ConsumerPortfolioSegmentMember2021-01-012021-06-300000804269srt:AffiliatedEntityMemberus-gaap:CommercialPortfolioSegmentMember2022-04-012022-06-300000804269srt:AffiliatedEntityMemberus-gaap:CommercialPortfolioSegmentMember2021-04-012021-06-300000804269srt:AffiliatedEntityMemberus-gaap:CommercialPortfolioSegmentMember2022-01-012022-06-300000804269srt:AffiliatedEntityMemberus-gaap:CommercialPortfolioSegmentMember2021-01-012021-06-300000804269srt:AffiliatedEntityMember2022-04-012022-06-300000804269srt:AffiliatedEntityMember2021-04-012021-06-300000804269srt:AffiliatedEntityMember2022-01-012022-06-300000804269srt:AffiliatedEntityMember2021-01-012021-06-300000804269srt:ParentCompanyMember2022-04-012022-06-300000804269srt:ParentCompanyMember2021-04-012021-06-300000804269srt:ParentCompanyMember2022-01-012022-06-300000804269srt:ParentCompanyMember2021-01-012021-06-300000804269acf:GeneralMotorsMemberacf:JuniorSubordinatedRevolvingCreditFacilityMember2022-06-300000804269us-gaap:RevolvingCreditFacilityMemberacf:GeneralMotorsMemberus-gaap:LineOfCreditMember2022-06-300000804269us-gaap:RevolvingCreditFacilityMemberacf:GeneralMotorsMemberus-gaap:LineOfCreditMemberacf:ThreeYearRevolvingCreditFacilityExpiringApril2024Member2022-01-012022-06-300000804269us-gaap:RevolvingCreditFacilityMemberacf:GeneralMotorsMemberus-gaap:LineOfCreditMemberacf:ThreeYearRevolvingCreditFacilityExpiringApril2024Member2022-06-300000804269us-gaap:RevolvingCreditFacilityMemberacf:GeneralMotorsMemberus-gaap:LineOfCreditMemberacf:FiveYearRevolvingCreditFacilityMember2022-01-012022-06-300000804269us-gaap:RevolvingCreditFacilityMemberacf:GeneralMotorsMemberus-gaap:LineOfCreditMemberacf:FiveYearRevolvingCreditFacilityMember2022-06-300000804269us-gaap:RevolvingCreditFacilityMemberacf:GeneralMotorsMemberus-gaap:LineOfCreditMemberacf:ThreeHundredandSixtyFourDayRevolvingCreditFacilitiesMember2022-06-300000804269us-gaap:RevolvingCreditFacilityMemberacf:GeneralMotorsMemberus-gaap:LineOfCreditMemberacf:ThreeHundredandSixtyFourDayRevolvingCreditFacilitiesMember2022-01-012022-06-300000804269us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberacf:CruiseLLCMember2022-06-300000804269us-gaap:RevolvingCreditFacilityMemberus-gaap:LineOfCreditMemberacf:CruiseLLCMember2021-12-310000804269us-gaap:ConsumerPortfolioSegmentMember2022-06-300000804269us-gaap:ConsumerPortfolioSegmentMember2021-12-310000804269us-gaap:CommercialPortfolioSegmentMember2022-06-300000804269us-gaap:CommercialPortfolioSegmentMember2021-12-310000804269us-gaap:FairValueInputsLevel2Member2022-06-300000804269us-gaap:FairValueInputsLevel2Member2021-12-310000804269us-gaap:FairValueInputsLevel3Member2022-06-300000804269us-gaap:FairValueInputsLevel3Member2021-12-310000804269us-gaap:ConsumerPortfolioSegmentMember2022-03-310000804269us-gaap:ConsumerPortfolioSegmentMember2021-03-310000804269us-gaap:ConsumerPortfolioSegmentMember2020-12-310000804269us-gaap:ConsumerPortfolioSegmentMember2022-04-012022-06-300000804269us-gaap:ConsumerPortfolioSegmentMember2021-04-012021-06-300000804269us-gaap:ConsumerPortfolioSegmentMember2022-01-012022-06-300000804269us-gaap:ConsumerPortfolioSegmentMember2021-01-012021-06-300000804269us-gaap:ConsumerPortfolioSegmentMember2021-06-300000804269us-gaap:ConsumerPortfolioSegmentMemberacf:FICOScoreGreaterThan680Member2022-06-30xbrli:pure0000804269us-gaap:ConsumerPortfolioSegmentMemberacf:FICOScore620To679Member2022-06-300000804269acf:FICOScoreLessThan620Memberus-gaap:ConsumerPortfolioSegmentMember2022-06-300000804269us-gaap:ConsumerPortfolioSegmentMemberacf:FICOScoreGreaterThan680Member2021-12-310000804269us-gaap:ConsumerPortfolioSegmentMemberacf:FICOScore620To679Member2021-12-310000804269acf:FICOScoreLessThan620Memberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000804269us-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2022-06-300000804269us-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-06-300000804269us-gaap:NonperformingFinancingReceivableMemberacf:FinancingReceivables31to60DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-06-300000804269us-gaap:NonperformingFinancingReceivableMemberacf:FinancingReceivables31to60DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-06-300000804269us-gaap:NonperformingFinancingReceivableMemberacf:FinancingReceivablesGreaterThan60DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-06-300000804269us-gaap:NonperformingFinancingReceivableMemberacf:FinancingReceivablesGreaterThan60DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-06-300000804269us-gaap:NonperformingFinancingReceivableMemberacf:FinancingReceivablesGreaterthan30DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2022-06-300000804269us-gaap:NonperformingFinancingReceivableMemberacf:FinancingReceivablesGreaterthan30DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-06-300000804269us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberacf:FinancingReceivablesInRepossessionMember2022-06-300000804269us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberacf:FinancingReceivablesInRepossessionMember2021-06-300000804269acf:FinanceReceivablesMoreThan30DaysDelinquentOrInRepossesionMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2022-06-300000804269acf:FinanceReceivablesMoreThan30DaysDelinquentOrInRepossesionMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2021-06-300000804269us-gaap:PerformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberus-gaap:FinancialAssetNotPastDueMember2021-12-310000804269us-gaap:NonperformingFinancingReceivableMemberacf:FinancingReceivables31to60DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000804269us-gaap:NonperformingFinancingReceivableMemberacf:FinancingReceivablesGreaterThan60DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000804269us-gaap:NonperformingFinancingReceivableMemberacf:FinancingReceivablesGreaterthan30DaysPastDueMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-310000804269us-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMemberacf:FinancingReceivablesInRepossessionMember2021-12-310000804269acf:FinanceReceivablesMoreThan30DaysDelinquentOrInRepossesionMemberus-gaap:NonperformingFinancingReceivableMemberus-gaap:ConsumerPortfolioSegmentMember2021-12-31acf:loan0000804269us-gaap:InternalInvestmentGradeMemberus-gaap:CommercialPortfolioSegmentMember2022-06-300000804269us-gaap:SpecialMentionMemberus-gaap:CommercialPortfolioSegmentMember2022-06-300000804269us-gaap:SubstandardMemberus-gaap:CommercialPortfolioSegmentMember2022-06-300000804269us-gaap:SubprimeMemberus-gaap:CommercialPortfolioSegmentMember2022-06-300000804269us-gaap:InternalInvestmentGradeMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000804269us-gaap:SpecialMentionMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000804269us-gaap:SubstandardMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000804269us-gaap:SubprimeMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000804269acf:FloorplanAdvancesMemberus-gaap:CommercialPortfolioSegmentMember2022-06-300000804269acf:FloorplanAdvancesMemberus-gaap:CommercialPortfolioSegmentMember2021-12-310000804269acf:AICGMACSAICGMFLeasingCo.andPTSGMWMultifinanceIndonesiaMember2022-04-012022-06-300000804269acf:AICGMACSAICGMFLeasingCo.andPTSGMWMultifinanceIndonesiaMember2021-04-012021-06-300000804269acf:AICGMACSAICGMFLeasingCo.andPTSGMWMultifinanceIndonesiaMember2022-01-012022-06-300000804269acf:AICGMACSAICGMFLeasingCo.andPTSGMWMultifinanceIndonesiaMember2021-01-012021-06-300000804269acf:GmacSaicMember2022-06-012022-06-300000804269acf:AICGMACSAICGMFLeasingCo.andPTSGMWMultifinanceIndonesiaMember2022-06-300000804269acf:AICGMACSAICGMFLeasingCo.andPTSGMWMultifinanceIndonesiaMember2021-12-310000804269us-gaap:RevolvingCreditFacilityMember2022-06-300000804269us-gaap:RevolvingCreditFacilityMember2021-12-310000804269acf:SecuritizationNotesPayableMember2022-06-300000804269acf:SecuritizationNotesPayableMember2021-12-310000804269us-gaap:SeniorNotesMember2022-06-300000804269us-gaap:SeniorNotesMember2021-12-310000804269acf:OtherUnsecuredDebtMember2022-06-300000804269acf:OtherUnsecuredDebtMember2021-12-310000804269acf:SecuritizationNotesPayableMemberus-gaap:SecuredDebtMember2022-06-300000804269acf:SeniorNotesWithMaturityDatesFrom2024To2031Memberus-gaap:SeniorNotesMember2022-06-300000804269acf:VariableInterestEntityPrimaryBeneficiarySecuritizationandCreditFacilityVIEMember2022-01-012022-06-300000804269acf:VariableInterestEntityPrimaryBeneficiarySecuritizationandCreditFacilityVIEMember2022-06-300000804269acf:VariableInterestEntityPrimaryBeneficiarySecuritizationandCreditFacilityVIEMember2021-12-310000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:OtherAssetsMemberus-gaap:FairValueHedgingMember2022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:OtherLiabilitiesMemberus-gaap:FairValueHedgingMember2022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:OtherAssetsMemberus-gaap:FairValueHedgingMember2021-12-310000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:OtherLiabilitiesMemberus-gaap:FairValueHedgingMember2021-12-310000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:OtherAssetsMemberus-gaap:CurrencySwapMemberus-gaap:FairValueHedgingMember2022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:OtherLiabilitiesMemberus-gaap:CurrencySwapMemberus-gaap:FairValueHedgingMember2022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:OtherAssetsMemberus-gaap:CurrencySwapMemberus-gaap:FairValueHedgingMember2021-12-310000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:OtherLiabilitiesMemberus-gaap:CurrencySwapMemberus-gaap:FairValueHedgingMember2021-12-310000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CashFlowHedgingMemberus-gaap:OtherAssetsMember2022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CashFlowHedgingMemberus-gaap:OtherLiabilitiesMember2022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CashFlowHedgingMemberus-gaap:OtherAssetsMember2021-12-310000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CashFlowHedgingMemberus-gaap:OtherLiabilitiesMember2021-12-310000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CashFlowHedgingMemberus-gaap:OtherAssetsMemberus-gaap:CurrencySwapMember2022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CashFlowHedgingMemberus-gaap:OtherLiabilitiesMemberus-gaap:CurrencySwapMember2022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CashFlowHedgingMemberus-gaap:OtherAssetsMemberus-gaap:CurrencySwapMember2021-12-310000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:FairValueInputsLevel2Memberus-gaap:CashFlowHedgingMemberus-gaap:OtherLiabilitiesMemberus-gaap:CurrencySwapMember2021-12-310000804269us-gaap:FairValueInputsLevel2Memberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2022-06-300000804269us-gaap:FairValueInputsLevel2Memberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2022-06-300000804269us-gaap:FairValueInputsLevel2Memberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2021-12-310000804269us-gaap:FairValueInputsLevel2Memberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2021-12-310000804269us-gaap:FairValueInputsLevel2Memberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-06-300000804269us-gaap:FairValueInputsLevel2Memberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2022-06-300000804269us-gaap:FairValueInputsLevel2Memberus-gaap:OtherAssetsMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-12-310000804269us-gaap:FairValueInputsLevel2Memberus-gaap:OtherLiabilitiesMemberus-gaap:NondesignatedMemberus-gaap:ForeignExchangeContractMember2021-12-310000804269us-gaap:OtherAssetsMember2022-06-300000804269us-gaap:OtherLiabilitiesMember2022-06-300000804269us-gaap:OtherAssetsMember2021-12-310000804269us-gaap:OtherLiabilitiesMember2021-12-310000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:UnsecuredDebtMemberus-gaap:FairValueHedgingMember2022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:UnsecuredDebtMemberus-gaap:FairValueHedgingMember2021-12-310000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMember2022-04-012022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:OperatingExpenseMemberus-gaap:FairValueHedgingMember2022-04-012022-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMember2021-04-012021-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:OperatingExpenseMemberus-gaap:FairValueHedgingMember2021-04-012021-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMember2022-01-012022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:OperatingExpenseMemberus-gaap:FairValueHedgingMember2022-01-012022-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:FairValueHedgingMember2021-01-012021-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:OperatingExpenseMemberus-gaap:FairValueHedgingMember2021-01-012021-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CurrencySwapMemberus-gaap:FairValueHedgingMember2022-04-012022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OperatingExpenseMemberus-gaap:CurrencySwapMemberus-gaap:FairValueHedgingMember2022-04-012022-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CurrencySwapMemberus-gaap:FairValueHedgingMember2021-04-012021-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OperatingExpenseMemberus-gaap:CurrencySwapMemberus-gaap:FairValueHedgingMember2021-04-012021-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CurrencySwapMemberus-gaap:FairValueHedgingMember2022-01-012022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OperatingExpenseMemberus-gaap:CurrencySwapMemberus-gaap:FairValueHedgingMember2022-01-012022-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CurrencySwapMemberus-gaap:FairValueHedgingMember2021-01-012021-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:OperatingExpenseMemberus-gaap:CurrencySwapMemberus-gaap:FairValueHedgingMember2021-01-012021-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2022-04-012022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:OperatingExpenseMember2022-04-012022-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2021-04-012021-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:OperatingExpenseMember2021-04-012021-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2022-01-012022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:OperatingExpenseMember2022-01-012022-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2021-01-012021-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMemberus-gaap:OperatingExpenseMember2021-01-012021-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMember2022-04-012022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:OperatingExpenseMemberus-gaap:CurrencySwapMember2022-04-012022-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMember2021-04-012021-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:OperatingExpenseMemberus-gaap:CurrencySwapMember2021-04-012021-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMember2022-01-012022-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:OperatingExpenseMemberus-gaap:CurrencySwapMember2022-01-012022-06-300000804269us-gaap:InterestExpenseMemberus-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMember2021-01-012021-06-300000804269us-gaap:DesignatedAsHedgingInstrumentMemberus-gaap:CashFlowHedgingMemberus-gaap:OperatingExpenseMemberus-gaap:CurrencySwapMember2021-01-012021-06-300000804269us-gaap:InterestExpenseMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2022-04-012022-06-300000804269us-gaap:OperatingExpenseMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2022-04-012022-06-300000804269us-gaap:InterestExpenseMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2021-04-012021-06-300000804269us-gaap:OperatingExpenseMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2021-04-012021-06-300000804269us-gaap:InterestExpenseMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2022-01-012022-06-300000804269us-gaap:OperatingExpenseMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2022-01-012022-06-300000804269us-gaap:InterestExpenseMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2021-01-012021-06-300000804269us-gaap:OperatingExpenseMemberus-gaap:NondesignatedMemberus-gaap:InterestRateContractMember2021-01-012021-06-300000804269us-gaap:InterestExpenseMember2022-04-012022-06-300000804269us-gaap:OperatingExpenseMember2022-04-012022-06-300000804269us-gaap:InterestExpenseMember2021-04-012021-06-300000804269us-gaap:OperatingExpenseMember2021-04-012021-06-300000804269us-gaap:InterestExpenseMember2022-01-012022-06-300000804269us-gaap:OperatingExpenseMember2022-01-012022-06-300000804269us-gaap:InterestExpenseMember2021-01-012021-06-300000804269us-gaap:OperatingExpenseMember2021-01-012021-06-300000804269us-gaap:CurrencySwapMemberus-gaap:AccumulatedTranslationAdjustmentMemberus-gaap:FairValueHedgingMember2022-04-012022-06-300000804269us-gaap:CurrencySwapMemberus-gaap:AccumulatedTranslationAdjustmentMemberus-gaap:FairValueHedgingMember2021-04-012021-06-300000804269us-gaap:CurrencySwapMemberus-gaap:AccumulatedTranslationAdjustmentMemberus-gaap:FairValueHedgingMember2022-01-012022-06-300000804269us-gaap:CurrencySwapMemberus-gaap:AccumulatedTranslationAdjustmentMemberus-gaap:FairValueHedgingMember2021-01-012021-06-300000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2022-04-012022-06-300000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2021-04-012021-06-300000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2022-01-012022-06-300000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMemberus-gaap:InterestRateSwapMemberus-gaap:CashFlowHedgingMember2021-01-012021-06-300000804269us-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberus-gaap:AccumulatedTranslationAdjustmentMember2022-04-012022-06-300000804269us-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberus-gaap:AccumulatedTranslationAdjustmentMember2021-04-012021-06-300000804269us-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberus-gaap:AccumulatedTranslationAdjustmentMember2022-01-012022-06-300000804269us-gaap:CashFlowHedgingMemberus-gaap:CurrencySwapMemberus-gaap:AccumulatedTranslationAdjustmentMember2021-01-012021-06-300000804269us-gaap:AccumulatedOtherComprehensiveIncomeMember2022-01-012022-06-300000804269us-gaap:AccumulatedOtherComprehensiveIncomeMember2021-01-012021-06-300000804269us-gaap:SeriesAPreferredStockMember2022-06-300000804269us-gaap:SeriesAPreferredStockMember2021-12-310000804269us-gaap:SeriesBPreferredStockMember2022-06-300000804269us-gaap:SeriesBPreferredStockMember2021-12-310000804269us-gaap:SeriesCPreferredStockMember2022-06-300000804269us-gaap:SeriesCPreferredStockMember2021-12-310000804269us-gaap:SeriesAPreferredStockMember2022-01-012022-06-300000804269us-gaap:SeriesBPreferredStockMember2022-01-012022-06-300000804269us-gaap:SeriesCPreferredStockMember2022-01-012022-06-300000804269us-gaap:SeriesAPreferredStockMember2021-01-012021-06-300000804269us-gaap:SeriesBPreferredStockMember2021-01-012021-06-300000804269us-gaap:SeriesCPreferredStockMember2021-01-012021-06-300000804269us-gaap:SeriesAPreferredStockMember2022-06-202022-06-200000804269us-gaap:SeriesBPreferredStockMember2022-06-202022-06-200000804269us-gaap:SeriesCPreferredStockMember2022-06-202022-06-200000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-03-310000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-03-310000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-12-310000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2020-12-310000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-04-012022-06-300000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-04-012021-06-300000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-01-012022-06-300000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-01-012021-06-300000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2022-06-300000804269us-gaap:AccumulatedGainLossNetCashFlowHedgeParentMember2021-06-300000804269us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-03-310000804269us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-03-310000804269us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-12-310000804269us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2020-12-310000804269us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-04-012022-06-300000804269us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-04-012021-06-300000804269us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-01-012022-06-300000804269us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-01-012021-06-300000804269us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2022-06-300000804269us-gaap:AccumulatedDefinedBenefitPlansAdjustmentMember2021-06-300000804269us-gaap:AccumulatedTranslationAdjustmentMember2022-03-310000804269us-gaap:AccumulatedTranslationAdjustmentMember2021-03-310000804269us-gaap:AccumulatedTranslationAdjustmentMember2021-12-310000804269us-gaap:AccumulatedTranslationAdjustmentMember2020-12-310000804269us-gaap:AccumulatedTranslationAdjustmentMember2022-04-012022-06-300000804269us-gaap:AccumulatedTranslationAdjustmentMember2021-04-012021-06-300000804269us-gaap:AccumulatedTranslationAdjustmentMember2022-01-012022-06-300000804269us-gaap:AccumulatedTranslationAdjustmentMember2021-01-012021-06-300000804269us-gaap:AccumulatedTranslationAdjustmentMember2022-06-300000804269us-gaap:AccumulatedTranslationAdjustmentMember2021-06-300000804269acf:NorthAmericaSegmentMember2022-04-012022-06-300000804269acf:InternationalSegmentMember2022-04-012022-06-300000804269acf:NorthAmericaSegmentMember2021-04-012021-06-300000804269acf:InternationalSegmentMember2021-04-012021-06-300000804269acf:NorthAmericaSegmentMember2022-01-012022-06-300000804269acf:InternationalSegmentMember2022-01-012022-06-300000804269acf:NorthAmericaSegmentMember2021-01-012021-06-300000804269acf:InternationalSegmentMember2021-01-012021-06-300000804269acf:NorthAmericaSegmentMember2022-06-300000804269acf:InternationalSegmentMember2022-06-300000804269acf:NorthAmericaSegmentMember2021-12-310000804269acf:InternationalSegmentMember2021-12-310000804269acf:InternationalRegulatedBankAndFinanceCompaniesMember2022-06-300000804269acf:InternationalRegulatedBankAndFinanceCompaniesMember2021-12-31
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
______________________________________________ 
FORM 10-Q
(Mark One)
☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended June 30, 2022
OR
☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the transition period from ________________ to ________________
Commission file number 1-10667
______________________________________________ 
General Motors Financial Company, Inc.
(Exact name of registrant as specified in its charter)
Texas75-2291093
(State or other jurisdiction of
incorporation or organization)		(I.R.S. Employer
Identification No.)
801 Cherry Street, Suite 3500, Fort Worth, Texas 76102
(Address of principal executive offices, including Zip Code)
(817) 302-7000
(Registrant’s telephone number, including area code)
Not applicable
(Former name, former address and former fiscal year, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
5.250% Senior Notes due 2026GM/26New York Stock Exchange
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.  Yes  ☒    No  ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).  Yes  ☒    No  ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.
Large accelerated filer☐
Accelerated filer
☐
Non-accelerated filer
☒
Smaller reporting company
☐
Emerging growth company
☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes  ☐   No  ☒ 
As of July 25, 2022, there were 5,050,000 shares of the registrant’s common stock, par value $0.0001 per share, outstanding. All shares of the registrant’s common stock are owned by General Motors Holdings LLC, a wholly-owned subsidiary of General Motors Company.
The registrant is a wholly-owned subsidiary of General Motors Company and meets the conditions set forth in General Instructions H(1)(a) and (b) of Form 10-Q and is therefore filing this Quarterly Report on Form 10-Q with a reduced disclosure format as permitted by Instruction H(2).


INDEX
 Page
PART I
Item 1.Condensed Consolidated Financial Statements
Condensed Consolidated Balance Sheets (Unaudited)
Condensed Consolidated Statements of Income (Unaudited)
Condensed Consolidated Statements of Comprehensive Income (Unaudited)
Condensed Consolidated Statements of Shareholders' Equity (Unaudited)
Condensed Consolidated Statements of Cash Flows (Unaudited)
Notes to Condensed Consolidated Financial Statements
Note 1. Summary of Significant Accounting Policies
Note 2. Related Party Transactions
Note 3. Finance Receivables
Note 4. Leased Vehicles
Note 5. Equity in Net Assets of Non-consolidated Affiliates
Note 6. Debt
Note 7. Variable Interest Entities and Other Transfers of Finance Receivables
Note 8. Derivative Financial Instruments and Hedging Activities
Note 9. Commitments and Contingencies
Note 10. Shareholders' Equity
Note 11. Income Taxes
Note 12. Segment Reporting
Note 13. Regulatory Capital and Other Regulatory Matters
Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Item 4.
Controls and Procedures
       PART II
Item 1.
Legal Proceedings
Item 1A.
Risk Factors
Item 6.
Exhibits
Signature

GENERAL MOTORS FINANCIAL COMPANY, INC.
PART I
Item 1. Condensed Consolidated Financial Statements
CONDENSED CONSOLIDATED BALANCE SHEETS
(In millions, except per share amounts) (Unaudited)
 June 30, 2022December 31, 2021
ASSETS
Cash and cash equivalents$5,275 $3,948 
Finance receivables, net of allowance for loan losses $2,027 and $1,886 (Note 3;
Note 7 VIEs)
66,847 62,979 
Leased vehicles, net (Note 4; Note 7 VIEs)
35,307 37,929 
Goodwill1,171 1,169 
Equity in net assets of non-consolidated affiliates (Note 5)
1,760 1,717 
Related party receivables (Note 2)
502 301 
Other assets (Note 7 VIEs)
6,917 5,743 
Total assets$117,778 $113,786 
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Secured debt (Note 6; Note 7 VIEs)
$38,095 $39,338 
Unsecured debt (Note 6)
55,509 53,223 
Deferred income2,377 2,551 
Related party payables (Note 2)
80 313 
Other liabilities6,874 4,567 
Total liabilities102,935 99,992 
Commitments and contingencies (Note 9)
Shareholders' equity (Note 10)
Common stock, $0.0001 par value per share
— — 
Preferred stock, $0.01 par value per share
— — 
Additional paid-in capital8,713 8,692 
Accumulated other comprehensive income (loss)(1,226)(1,273)
Retained earnings7,357 6,375 
Total shareholders' equity14,844 13,794 
Total liabilities and shareholders' equity$117,778 $113,786 
The accompanying notes are an integral part of these condensed consolidated financial statements.
Amounts may not add due to rounding.
1
GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(In millions) (Unaudited)
Three Months Ended June 30,Six Months Ended June 30,
 2022202120222021
Revenue
Finance charge income$1,062 $1,036 $2,072 $2,052 
Leased vehicle income1,989 2,304 4,056 4,625 
Other income95 86 175 156 
Total revenue3,146 3,426 6,302 6,833 
Costs and expenses
Operating expenses393 378 766 789 
Leased vehicle expenses856 825 1,711 2,069 
Provision for loan losses (Note 3)
198 59 320 33 
Interest expense642 633 1,219 1,283 
Total costs and expenses2,089 1,895 4,016 4,174 
Equity income (Note 5)
50 50 104 104 
Income before income taxes1,106 1,581 2,390 2,763 
Income tax provision (Note 11)
277 401 599 705 
Net income (loss)829 1,180 1,791 2,058 
Less: cumulative dividends on preferred stock30 29 59 59 
Net income (loss) attributable to common shareholder$799 $1,151 $1,731 $1,999 

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME
(In millions) (Unaudited)
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Net income (loss)$829 $1,180 $1,791 $2,058 
Other comprehensive income (loss), net of tax (Note 10)
Unrealized gain (loss) on hedges, net of income tax (expense) benefit of $(7), $2,$(38),$(15)
21 (7)116 42 
Foreign currency translation adjustment(213)133 (69)61 
Other comprehensive income (loss), net of tax(192)126 46 103 
Comprehensive income (loss)$637 $1,306 $1,837 $2,161 
The accompanying notes are an integral part of these condensed consolidated financial statements.
Amounts may not add due to rounding.

2
GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY
(In millions) (Unaudited)
Common StockPreferred StockAdditional Paid-in CapitalAccumulated Other Comprehensive Income (Loss)Retained EarningsTotal
Shareholders'
Equity
Balance at January 1, 2021$— $— $8,642 $(1,309)$6,265 $13,598 
Net income (loss)— — — — 878 878 
Other comprehensive income (loss)— — — (23)— (23)
Stock-based compensation— — 8 — — 8 
Dividends paid (Note 10)
— — — — (661)(661)
Balance at March 31, 2021— — 8,650 (1,332)6,482 13,800 
Net income (loss)— — — — 1,180 1,180 
Other comprehensive income (loss)— — — 126 — 126 
Stock-based compensation— — 18 — — 18 
Dividends paid (Note 10)
— — — — (600)(600)
Dividends declared on preferred stock (Note 10)
— — — — (59)(59)
Balance at June 30, 2021$— $— $8,668 $(1,206)$7,003 $14,465 
Balance at January 1, 2022$— $— $8,692 $(1,273)$6,375 $13,794 
Net income (loss)— — — — 962 962 
Other comprehensive income (loss)— — — 238 — 238 
Stock-based compensation— — 10 — — 10 
Balance at March 31, 2022— — 8,701 (1,034)7,337 15,004 
Net income (loss)— — — — 829 829 
Other comprehensive income (loss)— — — (192)— (192)
Stock-based compensation— — 11 — — 11 
Dividends paid (Note 10)
— — — — (750)(750)
Dividends declared on preferred stock (Note 10)
— — — — (59)(59)
Balance at June 30, 2022$— $— $8,713 $(1,226)$7,357 $14,844 
The accompanying notes are an integral part of these condensed consolidated financial statements.
Amounts may not add due to rounding.
3
GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(In millions) (Unaudited)
Six Months Ended June 30,
20222021
Cash flows from operating activities
Net income (loss)$1,791 $2,058 
Depreciation and amortization2,536 3,337 
Accretion and amortization of loan and leasing fees(634)(792)
Undistributed earnings of non-consolidated affiliates, net(77)(104)
Provision for loan losses320 33 
Deferred income taxes419 212 
Stock-based compensation expense21 26 
Gain on termination of leased vehicles(723)(1,158)
Other operating activities(74)112 
Changes in assets and liabilities:
Other assets(943)(10)
Other liabilities(22)(177)
Related party payables(247)82 
Net cash provided by (used in) operating activities2,366 3,619 
Cash flows from investing activities
Purchases of retail finance receivables, net(17,159)(17,479)
Principal collections and recoveries on retail finance receivables13,763 12,237 
Net collections (funding) of commercial finance receivables(862)3,383 
Purchases of leased vehicles, net(6,203)(12,391)
Proceeds from termination of leased vehicles7,549 10,868 
Capital injection to non-consolidated affiliates (26)— 
Other investing activities(13)(27)
Net cash provided by (used in) investing activities(2,951)(3,409)
Cash flows from financing activities
Net change in debt (original maturities less than three months)999 2,369 
Borrowings and issuances of secured debt14,389 15,716 
Payments on secured debt(15,634)(16,744)
Borrowings and issuances of unsecured debt9,206 9,974 
Payments on unsecured debt(6,558)(9,755)
Dividends paid(809)(1,261)
Debt issuance costs(84)(105)
Net cash provided by (used in) financing activities1,508 194 
Net increase in cash, cash equivalents and restricted cash 922 404 
Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash14 — 
Cash, cash equivalents and restricted cash at beginning of period7,183 8,126 
Cash, cash equivalents and restricted cash at end of period$8,119 $8,530 

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheet:
June 30, 2022
Cash and cash equivalents$5,275 
Restricted cash included in other assets2,844 
Total$8,119 
The accompanying notes are an integral part of these condensed consolidated financial statements.
Amounts may not add due to rounding.
4
GENERAL MOTORS FINANCIAL COMPANY, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
Note 1. Summary of Significant Accounting Policies
Basis of Presentation The consolidated financial statements include our accounts and the accounts of our consolidated subsidiaries, including certain special purpose entities (SPEs) utilized in secured financing transactions, which are considered variable interest entities (VIEs). All intercompany transactions and accounts have been eliminated in consolidation.
The consolidated financial statements, including the notes thereto, are condensed and do not include all disclosures required by generally accepted accounting principles (GAAP) in the U.S. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021, as filed with the Securities and Exchange Commission on February 2, 2022 (2021 Form 10-K). Except as otherwise specified, dollar amounts presented within tables are stated in millions. Certain columns and rows may not add due to rounding.
The condensed consolidated financial statements at June 30, 2022, and for the three and six months ended June 30, 2022 and 2021, are unaudited and, in management’s opinion, include all adjustments, which consist of normal recurring adjustments and transactions or events discretely impacting the interim periods, considered necessary by management to fairly state our results of operations. The results for interim periods are not necessarily indicative of results for a full year. The condensed consolidated balance sheet at December 31, 2021 was derived from audited annual financial statements.
Segment Information We are the wholly-owned captive finance subsidiary of General Motors Company (GM). We offer substantially similar products and services throughout many different regions, subject to local regulations and market conditions. We evaluate our business in two operating segments: North America (the North America Segment) and International (the International Segment). Our North America Segment includes operations in the U.S. and Canada. Our International Segment includes operations in Brazil, Chile, Colombia, Mexico and Peru, as well as our equity investments in joint ventures in China.
Accounting Standards Not Yet Adopted In March 2022, the Financial Accounting Standards Board issued Accounting Standards Update (ASU) 2022-02, "Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures" (ASU 2022-02), which eliminates the accounting guidance for troubled debt restructurings (TDRs) by creditors that have adopted ASU 2016-13, "Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments." We adopted ASU 2016-13 on January 1, 2020. ASU 2022-02 enhances disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. In addition, ASU 2022-02 amends the guidance on vintage disclosures to require entities to disclose current-period gross write-offs by year of origination.
For entities that have adopted ASU 2016-13, ASU 2022-02 is effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. Early adoption is permitted if an entity has adopted ASU 2016-13.
The adoption of ASU 2022-02 is not expected to have a material impact on our consolidated financial statements.
Note 2. Related Party Transactions
We offer loan and lease finance products through GM-franchised dealers to customers purchasing new vehicles manufactured by GM and certain used vehicles and make commercial loans directly to GM-franchised dealers and their affiliates. We also offer commercial loans to dealers that are consolidated by GM and those balances are included in finance receivables, net.
Under subvention programs, GM makes cash payments to us for offering incentivized rates and structures on retail loan and lease finance products. In addition, GM makes cash payments to us to cover interest payments on certain commercial loans we make to GM-franchised dealers.
We are included in GM's consolidated U.S. federal income tax returns and certain U.S. state returns, and we are obligated to pay GM for our share of tax liabilities. During the six months ended June 30, 2022, we made payments of $380 million to GM for state and federal income taxes related to the years 2020 through 2022. Amounts owed to GM for income taxes are recorded as a related party payable. In addition, amounts due to GM for commercial finance receivables originated but not yet funded are recorded as a related party payable.
5
GENERAL MOTORS FINANCIAL COMPANY, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
The following tables present related party transactions:
Balance Sheet DataJune 30, 2022December 31, 2021
Commercial finance receivables, net due from dealers consolidated by GM(a)
$133 $163 
Subvention receivable(b)
$475 $282 
Commercial loan funding payable(c)
$41 $26 
Taxes payable(c)
$37 $282 
Three Months Ended June 30,Six Months Ended June 30,
Income Statement Data2022202120222021
Interest subvention earned on retail finance receivables(d)
$221 $204 $431 $383 
Interest subvention earned on commercial finance receivables(d)
$14 $7 $24 $16 
Leased vehicle subvention earned(e)
$500 $704 $1,047 $1,425 
_________________
(a)Included in finance receivables, net.
(b)Included in related party receivables. We received subvention payments from GM of $561 million and $1.0 billion for the three months ended June 30, 2022 and 2021, and $1.0 billion and $2.0 billion for the six months ended June 30, 2022 and 2021.
(c)Included in related party payables.
(d)Included in finance charge income.
(e)Included as a reduction to leased vehicle expenses.
Under the support agreement with GM (the Support Agreement), if our earning assets leverage ratio at the end of any calendar quarter exceeds the applicable threshold set in the Support Agreement, we may require GM to provide funding sufficient to bring our earning assets leverage ratio within the applicable threshold. In determining our earning assets leverage ratio (net earning assets divided by adjusted equity) under the Support Agreement, net earning assets means our finance receivables, net, plus leased vehicles, net, and adjusted equity means our equity, net of goodwill and inclusive of outstanding junior subordinated debt, as each may be adjusted for derivative accounting from time to time.
Additionally, the Support Agreement provides that GM will own all of our outstanding voting shares as long as we have any unsecured debt securities outstanding. GM also agrees to certain provisions in the Support Agreement intended to ensure we maintain adequate access to liquidity. Pursuant to these provisions, GM provides us with a $1.0 billion junior subordinated unsecured intercompany revolving credit facility, and GM will use commercially reasonable efforts to ensure we will continue to be designated as a subsidiary borrower under GM's corporate revolving credit facilities. We have access, subject to available capacity, to $15.5 billion of GM's unsecured revolving credit facilities consisting of a three-year, $4.3 billion facility and a five-year, $11.2 billion facility. We also have exclusive access to GM's $2.0 billion 364-day revolving credit facility (GM Revolving 364-day Credit Facility). We had no borrowings outstanding under any of the GM revolving credit facilities at June 30, 2022 and December 31, 2021. In April 2022, GM renewed the GM Revolving 364-Day Credit Facility, which now matures on April 4, 2023.
Cruise is the GM global segment responsible for the development and commercialization of autonomous vehicle technology. We have a multi-year credit agreement with Cruise whereby we may provide advances to Cruise up to an aggregate of $5.0 billion, over time, through 2024, to fund the purchase of autonomous vehicles from GM. Cruise had an insignificant amount of borrowings outstanding under the credit agreement at June 30, 2022 and no borrowings outstanding at December 31, 2021.
6
GENERAL MOTORS FINANCIAL COMPANY, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
Note 3. Finance Receivables
June 30, 2022December 31, 2021
Retail finance receivables
Retail finance receivables, net of fees(a)
$61,208 $58,093 
Less: allowance for loan losses(1,987)(1,839)
Total retail finance receivables, net59,220 56,254 
Commercial finance receivables
Commercial finance receivables, net of fees(b)
7,666 6,772 
Less: allowance for loan losses(40)(47)
Total commercial finance receivables, net7,626 6,725 
Total finance receivables, net$66,847 $62,979 
Fair value utilizing Level 2 inputs$7,626 $6,725 
Fair value utilizing Level 3 inputs$58,528 $57,613 
________________
(a) Net of unearned income, unamortized premiums and discounts, and deferred fees and costs.
(b) Net of dealer cash management balances of $1.3 billion and $1.0 billion at June 30, 2022 and December 31, 2021.

Rollforward of Allowance for Retail Loan Losses A summary of the activity in the allowance for retail loan losses is as follows:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Allowance for retail loan losses beginning balance$1,884 $1,784 $1,839 $1,915 
Provision for loan losses202 67 328 54 
Charge-offs(247)(204)(521)(457)
Recoveries161 144 339 293 
Foreign currency translation(14)14 4 — 
Allowance for retail loan losses ending balance$1,987 $1,805 $1,987 $1,805 
Retail Credit Quality Our retail finance receivables portfolio includes loans made to consumers and businesses to finance the purchase of vehicles for personal and commercial use. The following tables are consolidated summaries of the amortized cost of the retail finance receivables by FICO score or its equivalent, determined at origination, for each vintage of the portfolio at June 30, 2022 and December 31, 2021:
Year of OriginationJune 30, 2022
 20222021202020192018PriorTotalPercent
Prime - FICO Score 680 and greater$12,052 $16,089 $9,915 $3,048 $1,574 $464 $43,141 70.5 %
Near-prime - FICO Score 620 to 6791,704 3,183 1,883 932 459 204 8,366 13.7 
Sub-prime - FICO Score less than 6201,826 3,323 1,986 1,356 699 512 9,701 15.8 
Retail finance receivables, net of fees$15,582 $22,595 $13,784 $5,337 $2,732 $1,179 $61,208 100.0 %
Year of OriginationDecember 31, 2021
 20212020201920182017PriorTotalPercent
Prime - FICO Score 680 and greater$19,729 $12,408 $4,078 $2,298 $763 $143 $39,419 67.9 %
Near-prime - FICO Score 620 to 6793,856 2,388 1,229 648 274 84 8,479 14.6 
Sub-prime - FICO Score less than 6204,053 2,528 1,777 972 570 295 10,195 17.5 
Retail finance receivables, net of fees$27,638 $17,324 $7,084 $3,918 $1,607 $522 $58,093 100.0 %
7
GENERAL MOTORS FINANCIAL COMPANY, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
We review the ongoing credit quality of our retail finance receivables based on customer payment activity. A retail account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date the payment was contractually due. Retail finance receivables are collateralized by vehicle titles and, subject to local laws, we generally have the right to repossess the vehicle in the event the customer defaults on the payment terms of the contract. The following tables are consolidated summaries of the delinquency status of the outstanding amortized cost of retail finance receivables for each vintage of the portfolio at June 30, 2022 and December 31, 2021, as well as summary totals for June 30, 2021:
Year of OriginationJune 30, 2022June 30, 2021
20222021202020192018PriorTotalPercentTotalPercent
0 - 30 days$15,468 $22,088 $13,426 $5,076 $2,577 $1,046 $59,681 97.5 %$55,187 97.9 %
31 - 60 days88 369 262 193 117 99 1,129 1.8 856 1.5 
Greater than 60 days23 118 87 62 35 31 355 0.6 286 0.5 
Finance receivables more than 30 days delinquent111 487 350 254 152 130 1,484 2.4 1,142 2.0 
In repossession3 19 9 6 3 3 43 0.1 28 0.1 
Finance receivables more than 30 days delinquent or in repossession114 506 358 260 155 133 1,527 2.5 1,170 2.1 
Retail finance receivables, net of fees$15,582 $22,595 $13,784 $5,337 $2,732 $1,179 $61,208 100.0 %$56,357 100.0 %
Year of OriginationDecember 31, 2021
20212020201920182017PriorTotalPercent
0 - 30 days$27,270 $16,945 $6,772 $3,721 $1,478 $440 $56,626 97.5 %
31 - 60 days273 276 230 147 97 60 1,083 1.8 
Greater than 60 days83 93 76 46 30 21 349 0.6 
Finance receivables more than 30 days delinquent356 369 306 193 127 81 1,432 2.4 
In repossession12 10 6 4 2 1 35 0.1 
Finance receivables more than 30 days delinquent or in repossession368 379 312 197 129 82 1,467 2.5 
Retail finance receivables, net of fees$27,638 $17,324 $7,084 $3,918 $1,607 $522 $58,093 100.0 %
The accrual of finance charge income had been suspended on retail finance receivables with contractual amounts due of $583 million and $602 million at June 30, 2022 and December 31, 2021. Accrual of finance charge income on retail finance receivables is generally suspended on accounts that are more than 60 days delinquent, accounts in bankruptcy and accounts in repossession.
Impaired Retail Finance Receivables - TDRs The outstanding amortized cost of retail finance receivables that are considered TDRs were $1.9 billion at June 30, 2022 and December 31, 2021, including nonaccrual loans of $200 million at June 30, 2022 and $219 million at December 31, 2021. For definition and additional information on TDRs, see Note 1 in our 2021 Form 10-K. Additional TDR activity is presented below:
Three Months Ended June 30,Six Months Ended June 30,
2022202120222021
Number of loans classified as TDRs during the period13,278 9,044 25,126 20,420 
Outstanding amortized cost of loans classified as TDRs during the period$278 $183 $516 $417 
The unpaid principal balances, net of recoveries, of loans charged off during the reporting period and were within 12 months of being modified as a TDR were insignificant for the three and six months ended June 30, 2022 and 2021.
8
GENERAL MOTORS FINANCIAL COMPANY, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)
Commercial Credit Quality Our commercial finance receivables consist of dealer financings, primarily for dealer inventory purchases. Proprietary models are used to assign a risk rating to each dealer. We perform periodic credit reviews of each dealership and adjust the dealership's risk rating, if necessary.
Our commercial risk model and risk rating categories are as follows:
Dealer Risk RatingDescription
IPerforming accounts with strong to acceptable financial metrics with at least satisfactory capacity to meet financial commitments.
IIPerforming accounts experiencing potential weakness in financial metrics and repayment prospects resulting in increased monitoring.
IIINon-Performing accounts with inadequate paying capacity for current obligations and that have the distinct possibility of creating a loss if deficiencies are not corrected.
IVNon-Performing accounts with inadequate paying capacity for current obligations and inherent weaknesses that make collection or liquidation in full highly questionable or improbable.
Dealers with III and IV risk ratings are subject to additional monitoring and restrictions on funding, including suspension of lines of credit and liquidation of assets. The following tables summarize the credit risk profile by dealer risk rating of commercial finance receivables at June 30, 2022 and December 31, 2021:
Year of OriginationJune 30, 2022
Dealer Risk RatingRevolving20222021202020192018PriorTotalPercent
I
$6,024 $353 $395 $406 $110 $49 $38 $7,374 96.2 %
II
190 15 3 — 12 — 8 229 3.0 
III
59 1 2 — 1 — — 63 0.8 
IV
— — — — — — — — — 
Balance at end of period$6,273 $368 $400 $406 $123 $49