Shareholders' Equity

12 Months Ended

Dec. 31, 2024

Equity [Abstract]

Shareholders' Equity

Shareholders' Equity

	December 31, 2024	December 31, 2023
Common Stock
Number of shares authorized	10,000,000	10,000,000
Number of shares issued and outstanding	5,050,000	5,050,000

Our Board of Directors declared and paid dividends of $1.8 billion in both 2024 and 2023, and $1.7 billion in 2022 on our common stock to General Motors Holdings LLC.

	December 31, 2024	December 31, 2023
Preferred Stock
Number of shares authorized	250,000,000	250,000,000
Number of shares issued and outstanding(a)
Series A	1,000,000	1,000,000
Series B	500,000	500,000
Series C	500,000	500,000

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(a)Issued at a liquidation preference of $1,000 per share.

During 2024, 2023, and 2022, we paid dividends of $58 million to holders of record of our Series A Preferred Stock, $32 million to holders of record of our Series B Preferred Stock, and $29 million to holders of record of our Series C Preferred Stock.

In December 2024, our Board of Directors declared a dividend of $28.75 per share, $29 million in the aggregate, on our Series A Preferred Stock, a dividend of $32.50 per share, $16 million in the aggregate, on our Series B Preferred Stock, and a dividend of $28.50 per share, $14 million in the aggregate, on our Series C Preferred Stock, payable on March 30, 2025 to holders of record at March 15, 2025. Accordingly, $59 million has been set aside for the payment of these dividends.

The following table summarizes the significant components of accumulated other comprehensive income (loss):

	Years Ended December 31,
	2024		2023		2022
Unrealized gain (loss) on hedges
Beginning balance	$	(3)	$	(21)	$	(77)
Change in value of hedges, net of tax	81		18		55
Ending balance	$	77	$	(3)	$	(21)
Foreign currency translation adjustment
Beginning balance	$	(1,206)	$	(1,352)	$	(1,197)
Translation gain (loss)	(403)		147		(156)
Ending balance	$	(1,609)	$	(1,206)	$	(1,352)