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Debt (Tables)
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9 Months Ended |
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Sep. 30, 2013
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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): | | | | | | | | |
| September 30, 2013 | | December 31, 2012 | Carrying amount | $ | 8,448 |
| | $ | 5,172 |
| Fair value(a) | $ | 8,028 |
| | $ | 5,298 |
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________ | | (a) | The fair value of debt included $6.8 billion and $4.1 billion measured utilizing Level 2 inputs at September 30, 2013 and December 31, 2012. The fair value of debt included $1.2 billion measured utilizing Level 3 inputs at September 30, 2013 and December 31, 2012. |
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GM Financial [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): | | | | | | | | | | | | | | | | | | | | September 30, 2013 | | December 31, 2012 | | | Carrying Amount | | Fair Value(a) | | Carrying Amount | | Fair Value(a) | Secured | | | | | | | | | Revolving credit facilities | | $ | 6,090 |
| | $ | 6,109 |
| | $ | 354 |
| | $ | 354 |
| Securitization notes payable(b) | | 12,357 |
| | 12,446 |
| | 9,024 |
| | 9,171 |
| Total secured | | 18,447 |
| | 18,555 |
| | 9,378 |
| | 9,525 |
| Unsecured | | | | | | | | | Bank lines and other unsecured debt | | 1,228 |
| | 1,228 |
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| Senior notes | | 4,000 |
| | 4,011 |
| | 1,500 |
| | 1,620 |
| Total unsecured | | 5,228 |
| | 5,239 |
| | 1,500 |
| | 1,620 |
| Total GM Financial debt | | $ | 23,675 |
| | $ | 23,794 |
| | $ | 10,878 |
| | $ | 11,145 |
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________ | | (a) | The fair value of debt included $21.4 billion and $11.1 billion measured utilizing Level 2 inputs at September 30, 2013 and December 31, 2012 and $2.4 billion measured utilizing Level 3 inputs at September 30, 2013. For revolving credit facilities with variable interest rates and maturities of one year or less, the carrying amount is considered to be a reasonable estimate of fair value. The fair value of other secured debt and the unsecured debt is based on quoted market prices, when available. If quoted market prices are not available, the market value is estimated by discounting future net cash flows expected to be paid using current risk-adjusted rates. |
| | (b) | Includes a private securitization that GM Financial used observable and unobservable inputs to estimate fair value. Unobservable inputs are related to the structuring of the debt into various classes, which is based on public securitizations issued during the same time frame. Observable inputs are used by obtaining active prices based on the securitization debt issued during the same time frame. These observable inputs are then used to create expected market prices (unobservable inputs), which are then applied to the debt classes in order to estimate fair value which would approximate market value. |
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| Schedule of Maturities of Long-term Debt [Table Text Block] |
The following table summarizes the expected scheduled principal and interest payments under our contractual debt obligations at September 30, 2013 (dollars in millions): | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Payments Due by Period | | | 2013 | | 2014 | | 2015 | | 2016 | | 2017 | | Thereafter | | Total | Secured Debt | | $ | 3,672 |
| | $ | 6,334 |
| | $ | 4,239 |
| | $ | 2,686 |
| | $ | 1,217 |
| | $ | 299 |
| | $ | 18,447 |
| Unsecured Debt | | 724 |
| | 306 |
| | 166 |
| | 1,032 |
| | 1,000 |
| | 2,000 |
| | 5,228 |
| Interest | | 152 |
| | 451 |
| | 308 |
| | 211 |
| | 143 |
| | 196 |
| | 1,461 |
| | | $ | 4,548 |
| | $ | 7,091 |
| | $ | 4,713 |
| | $ | 3,929 |
| | $ | 2,360 |
| | $ | 2,495 |
| | $ | 25,136 |
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