Debt

9 Months Ended

Sep. 30, 2023

Debt Disclosure [Abstract]

Debt

Debt

	September 30, 2023				December 31, 2022
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Secured debt
Revolving credit facilities	$	4,736	$	4,736	$	3,931	$	3,931
Securitization notes payable	40,534		40,081		38,200		37,537
Total secured debt	45,271		44,817		42,131		41,467
Unsecured debt
Senior notes	47,442		45,523		46,111		43,676
Credit facilities	1,864		1,858		1,473		1,448
Other unsecured debt	7,938		7,956		7,139		7,146
Total unsecured debt	57,244		55,338		54,723		52,270
Total secured and unsecured debt	$	102,515	$	100,155	$	96,854	$	93,738
Fair value utilizing Level 2 inputs			$	98,032			$	91,545
Fair value utilizing Level 3 inputs			$	2,123			$	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 nine months ended September 30, 2023, we renewed credit facilities with a total borrowing capacity of $17.7 billion, and we issued $18.1 billion in aggregate principal amount of securitization notes payable with an initial weighted average interest rate of 5.49% and maturity dates ranging from 2023 to 2035.

Unsecured Debt During the nine months ended September 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 September 30, 2023, we were in compliance with these debt covenants.