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Debt (Tables)
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6 Months Ended |
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Jun. 30, 2012
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Automotive [Member]
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| Debt carrying amount and fair value [Table Text Block] |
The following table summarizes the carrying amount and fair value of debt (dollars in millions): | | | | | | | | |
| June 30, 2012 |
| December 31, 2011 | Carrying amount | $ | 5,143 |
| | $ | 5,295 |
| Fair value(a) | $ | 5,649 |
| | $ | 5,467 |
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__________ | | (a) | The fair value of debt included $4.4 billion measured utilizing Level 2 inputs at June 30, 2012 and December 31, 2011. The fair value of debt included $1.2 billion and $1.1 billion measured utilizing Level 3 inputs at June 30, 2012 and December 31, 2011 |
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GM Financial [Member]
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| Schedule of classification of debt [Table Text Block] |
The following table summarizes the current and non-current portion of debt (dollars in millions): | | | | | | | | |
| June 30, 2012 |
| December 31, 2011 | Short-term debt and current portion of long-term debt | $ | 3,732 |
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| $ | 4,118 |
| Long-term debt | 5,918 |
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| 4,420 |
| Total GM Financial debt | $ | 9,650 |
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| $ | 8,538 |
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| Schedule of Debt [Table Text Block] |
The following table summarizes the carrying amount and fair value of debt (dollars in millions): | | | | | | | | | | | | | | | | | | | | | | June 30, 2012 | | December 31, 2011 | | Level | | Carrying Amount | | Fair Value | | Carrying Amount | | Fair Value | Credit facilities | | | | | | | | | | Medium-term note facility | 3 | | $ | 215 |
| | $ | 216 |
| | $ | 294 |
| | $ | 294 |
| Syndicated warehouse facility | 2 | | — |
| | — |
| | 621 |
| | 621 |
| Lease warehouse facilities | 2 | | 308 |
| | 308 |
| | 181 |
| | 181 |
| Bank funding facility | 3 | | — |
| | — |
| | 3 |
| | 3 |
| Total credit facilities | | | 523 |
| | 524 |
| | 1,099 |
| | 1,099 |
| Securitization notes payable |
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| Securitization notes payable | 1 | | 7,986 |
| | 8,081 |
| | 6,938 |
| | 6,946 |
| Private securitization 2012-PP1 | 3 | | 640 |
| | 650 |
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| Total securitization notes payable | | | 8,626 |
| | 8,731 |
| | 6,938 |
| | 6,946 |
| Senior notes and convertible senior notes | 2 | | 501 |
| | 544 |
| | 501 |
| | 511 |
| Total GM Financial debt | | | $ | 9,650 |
| | $ | 9,799 |
| | $ | 8,538 |
| | $ | 8,556 |
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| Schedule of Line of Credit Facilities [Table Text Block] |
The following table summarizes further details regarding terms and availability of GM Financial's credit facilities at June 30, 2012 (dollars in millions): | | | | | | | | | | | | | | | | |
| Facility Amount | | Advances Outstanding | | Assets Pledged | | Restricted Cash Pledged(a) | Syndicated warehouse facility(b) | $ | 2,500 |
| | $ | — |
| | $ | — |
| | $ | — |
| U.S. lease warehouse facility(c) | $ | 600 |
| | — |
| | — |
| | — |
| Canada lease warehouse facility(d) | $ | 589 |
| | 308 |
| | 478 |
| | 2 |
| Medium-term note facility(e) | | | 215 |
| | 236 |
| | 84 |
| | | | $ | 523 |
| | $ | 714 |
| | $ | 86 |
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__________ | | (a) | These amounts do not include cash collected on finance receivables pledged of $29 million which is included in Restricted cash and marketable securities. |
| | (b) | In May 2012 GM Financial increased the Syndicated warehouse facility amount from $2.0 billion to $2.5 billion and extended the maturity date to May 2013. |
| | (c) | In January 2012 GM Financial extended the maturity date of the lease warehouse facility for lease originations in the U.S. to January 2013. Borrowings on the facility are collateralized by leased assets. |
| | (d) | In July 2012 GM Financial increased the lease warehouse facility for lease originations in Canada from CAD $600 million to CAD $800 million and extended the maturity date to July 2013. Borrowings in the facility are collateralized by leased assets. The facility amount represents CAD $600 million at June 30, 2012 and the advances outstanding amount represents CAD $314 million at June 30, 2012. |
| | (e) | The revolving period under this facility has ended and the outstanding debt balance will be repaid over time based on the amortization of the receivables pledged until October 2016 when any remaining amount outstanding will be due and payable |
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| Securitizations Notes Payable [Table Text Block] |
Securitization notes payable represents debt issued by GM Financial in securitization transactions. The following table summarizes securitization notes payable (dollars in millions): | | | | | | | | | | | | | | | | | | | | | | June 30, 2012 | | December 31, 2011 | Year of Transactions | Maturity Dates(a) | | | Original Note Amounts | | Original Weighted- Average Interest Rates | | Total Receivables Pledged | |
Note Balance | |
Note Balance | 2006 | January 2014 | | $ | 1,200 |
| | 5.4% | | $ | — |
| | $ | — |
| | $ | 63 |
| 2007 | April 2014 - March 2016 | | $ | 1,000 - 1,500 |
| | 5.3% - 5.5% | | — |
| | — |
| | 794 |
| 2008 | October 2014 - April 2015 | | $ | 500 - 750 |
| | 6.0% - 10.5% | | 346 |
| | 124 |
| | 171 |
| 2009 | January 2016 - July 2017 | | $ | 227 - 725 |
| | 2.7% - 7.5% | | 300 |
| | 221 |
| | 298 |
| 2010 | July 2017 - April 2018 | | $ | 200 - 850 |
| | 2.2% - 3.8% | | 1,582 |
| | 1,395 |
| | 1,756 |
| 2011 | July 2018 - March 2019 | | $ | 800 - 1,000 |
| | 2.4% - 2.9% | | 3,374 |
| | 3,105 |
| | 3,813 |
| 2012 | June 2019 - November 2019 | | $ | 800 - 1,200 |
| | 1.9% - 2.9% | | 3,948 |
| | 3,758 |
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| | | | | | | | | $ | 9,550 |
| | 8,603 |
| | 6,895 |
| Purchase accounting premium | | 23 |
| | 43 |
| Total securitization notes payable | | $ | 8,626 |
| | $ | 6,938 |
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__________ | | (a) | Maturity dates represent final legal maturity of securitization notes payable. Securitization notes payable are expected to be paid based on amortization of the finance receivables pledged to the trusts. |
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