Debt

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

Debt

Debt

	June 30, 2023				December 31, 2022
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Secured debt
Revolving credit facilities	$	1,251	$	1,251	$	3,931	$	3,931
Securitization notes payable	40,753		40,177		38,200		37,537
Total secured debt	42,004		41,427		42,131		41,467
Unsecured debt
Senior notes	50,125		48,136		46,111		43,676
Credit facilities	1,831		1,812		1,473		1,448
Other unsecured debt	7,659		7,673		7,139		7,146
Total unsecured debt	59,614		57,622		54,723		52,270
Total secured and unsecured debt	$	101,618	$	99,049	$	96,854	$	93,738
Fair value utilizing Level 2 inputs			$	97,015			$	91,545
Fair value utilizing Level 3 inputs			$	2,035			$	2,192

Secured Debt Most of the secured debt was issued by VIEs and is repayable only from proceeds related to the underlying pledged assets. Refer to Note 7 for further information.

During the six months ended June 30, 2023, we renewed credit facilities with a total borrowing capacity of $10.6 billion, and we issued $12.6 billion in aggregate principal amount of securitization notes payable with an initial weighted average interest rate of 5.34% and maturity dates ranging from 2027 to 2035.

Unsecured Debt During the six months ended June 30, 2023, we issued $8.3 billion in aggregate principal amount of senior notes with an initial weighted average interest rate of 5.51% and maturity dates ranging from 2026 to 2033.

General Motors Financial Company, Inc. is the sole guarantor of its subsidiaries' unsecured debt obligations for which a guarantee is provided.

Compliance with Debt Covenants Several of our revolving credit facilities require compliance with certain financial and operational covenants as well as regular reporting to lenders, including providing certain subsidiary financial statements. Certain of our secured debt agreements also contain various covenants, including maintaining portfolio performance ratios as well as limits on deferment levels. Our unsecured debt obligations contain covenants including limitations on our ability to incur certain liens. At June 30, 2023, we were in compliance with these debt covenants.