Guarantor Consolidating Financial Statements (Tables)

12 Months Ended

Dec. 31, 2013

Guarantor Consolidating Financial Statements [abstract]

Condensed Balance Sheet [Table Text Block]

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONSOLIDATING BALANCE SHEET

December 31, 2013

(in millions)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	395		$	679		$	—		$	1,074
Finance receivables, net	—			612			28,670			—			29,282
Restricted cash	—			20			1,938			—			1,958
Property and equipment, net	—			5			127			—			132
Leased vehicles, net	—			—			3,383			—			3,383
Deferred income taxes	1			—			358			—			359
Goodwill	1,095			—			145			—			1,240
Related party receivables	29			—			100						129
Other assets	74			5			358			(4		)	433
Due from affiliates	3,754			863						(4,617		)	—
Investment in affiliates	6,994			3,565			—			(10,559		)	—
Total assets	$	11,947		$	5,465		$	35,758		$	(15,180	)	$	37,990
Liabilities and Shareholder's Equity
Liabilities:
Secured debt	$	—		$	—		$	22,073		$	—		$	22,073
Unsecured debt	4,000			—			2,973			—			6,973
Accounts payable and accrued expenses	101			133			716			(4		)	946
Deferred income	—			—			168			—			168
Deferred taxes liabilities	(28		)	161			(46		)	—			87
Taxes payable	83			—			204			—			287
Related party taxes payable	643			—			1			(1		)	643
Related party payable	—			—			368						368
Other liabilities	—			14			146			—			160
Due to affiliates	863			1,474			2,280			(4,617		)	—
Total liabilities	5,662			1,782			28,883			(4,622		)	31,705
Shareholder's equity:
Common stock	—			—			532			(532		)	—
Additional paid-in capital	4,785			79			3,833			(3,912		)	4,785
Accumulated other comprehensive income	11			(8		)	24			(16		)	11
Retained earnings	1,489			3,612			2,486			(6,098		)	1,489
Total shareholder's equity	6,285			3,683			6,875			(10,558		)	6,285
Total liabilities and shareholder's equity	$	11,947		$	5,465		$	35,758		$	(15,180	)	$	37,990

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONSOLIDATING BALANCE SHEET

December 31, 2012

(in millions)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	1,252		$	37		$	—		$	1,289
Finance receivables, net	—			1,558			9,440			—			10,998
Restricted cash	—			—			744			—			744
Property and equipment, net	—			4			48			—			52
Leased vehicles, net	—			—			1,703			—			1,703
Deferred income taxes	39			(28		)	96			—			107
Goodwill	1,095			—			13			—			1,108
Related party receivables	66			—			—			—			66
Other assets	14			18			98			—			130
Due from affiliates	2,063			—			—			(2,063		)	—
Investment in affiliates	3,274			2,193			—			(5,467		)	—
Total assets	$	6,551		$	4,997		$	12,179		$	(7,530	)	$	16,197
Liabilities and Shareholder's Equity
Liabilities:
Secured debt	$	—		$	—		$	9,378		$	—		$	9,378
Unsecured debt	1,500			—			—			—			1,500
Accounts payable and accrued expenses	22			90			105			—			217
Deferred income	—			—			70			—			70
Taxes payable	91			4			(2		)	—			93
Related party payables	559			—			—			—			559
Other liabilities	—			—			1			—			1
Due to affiliates	—			1,669			394			(2,063		)	—
Total liabilities	2,172			1,763			9,946			(2,063		)	11,818
Shareholder's equity:
Common stock	—			—			570			(570		)	—
Additional paid-in capital	3,459			79			123			(202		)	3,459
Accumulated other comprehensive (loss) income	(3		)	(11		)	13			(2		)	(3		)
Retained earnings	923			3,166			1,527			(4,693		)	923
Total shareholder's equity	4,379			3,234			2,233			(5,467		)	4,379
Total liabilities and shareholder's equity	$	6,551		$	4,997		$	12,179		$	(7,530	)	$	16,197

Condensed Income Statement [Table Text Block]

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONSOLIDATING STATEMENT OF INCOME

Year Ended December 31, 2013

(in millions)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	140		$	2,423	$	—		$	2,563
Leased vehicle income	—			—			595		—			595
Other income	56			433			105		(408		)	186
Equity in income of affiliates	584			551			—		(1,135		)	—
	640			1,124			3,123		(1,543		)	3,344
Costs and expenses
Salaries and benefits	—			216			232		—			448
Other operating expenses	(100		)	228			441		(247		)	322
Total operating expenses	(100		)	444			673		(247		)	770
Leased vehicle expenses	—			—			453		—			453
Provision for loan losses	—			239			236		—			475
Interest expense	180			37			665		(161		)	721
Acquisition and integration expenses	—			—			42		—			42
	80			720			2,069		(408		)	2,461
Income before income taxes	560			404			1,054		(1,135		)	883
Income tax (benefit) provision	(6		)	(42		)	365		—			317
Net income	$	566		$	446		$	689	$	(1,135	)	$	566
Comprehensive income	$	580		$	449		$	700	$	(1,149	)	$	580

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONSOLIDATING STATEMENT OF INCOME

Year Ended December 31, 2012

(in millions)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	150		$	1,444	$	—		$	1,594
Leased vehicle income	—			—			289		$	—		289
Other income	45			194			250		(412		)	77
Equity in income of affiliates	489			599			—		(1,088		)	—
	534			943			1,983		(1,500		)	1,960
Costs and expenses
Salaries and benefits	—			201			97		—			298
Other operating expenses (income)	15			(115		)	200		—			100
Total operating expenses	15			86			297					398
Leased vehicle expenses	—			—			211		—			211
Provision for loan losses	—			231			73		—			304
Interest expense	67			166			462		(412		)	283
Acquisition and integration expenses	—			—			20		—			20
	82			483			1,063		(412		)	1,216
Income before income taxes	452			460			920		(1,088		)	744
Income tax (benefit) provision	(11		)	(41		)	333					281
Net income	$	463		$	501		$	587	$	(1,088	)	$	463
Comprehensive income	$	467		$	501		$	593	$	(1,094	)	$	467

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONSOLIDATING STATEMENT OF INCOME

Year Ended December 31, 2011

(in millions)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	107		$	1,140	$	—		$	1,247
Leased vehicle income	—			—			98		—			98
Other income	51			295			509		(790		)	65
Equity in income of affiliates	405			489			—		(894		)	—
	456			891			1,747		(1,684		)	1,410
Costs and expenses
Salaries and benefits	—			174			80		—			254
Other operating expenses	18			(85		)	152		—			85
Total operating expenses	18			89			232		—			339
Leased vehicle expenses	—			—			67		—			67
Provision for loan losses	—			158			20		—			178
Interest expense	60			307			627		(790		)	204
	78			554			946		(790		)	788
Income before income taxes	378			337			801		(894		)	622
Income tax (benefit) provision	(8		)	(51		)	295		—			236
Net income	$	386		$	388		$	506	$	(894	)	$	386
Comprehensive income	$	377		$	388		$	450	$	(838	)	$	377

Condensed Cash Flow Statement [Table Text Block]

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONSOLIDATING STATEMENT OF CASH FLOWS

Year Ended December 31, 2013

(in millions)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors				Eliminations			Consolidated
Cash flows from operating activities:
Net income	$	566		$	446		$	689			$	(1,135	)	$	566
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	8			2			535				—			545
Accretion and amortization of loan and leasing fees	—			2			(90		)		—			(88		)
Amortization of carrying value adjustment	—			(2		)	(92		)		—			(94		)
Amortization of purchase accounting adjustment	—			—			4				—			4
Provision for loan losses	—			239			236				—			475
Deferred income taxes	9			133			37				—			179
Stock based compensation expense	9			—			—				—			9
Foreign currency translation gain	(118		)							118				(118		)
Other	—			—			(53		)		—			(53		)
Equity in income of affiliates	(584		)	(551		)	—				1,135			—
Changes in assets and liabilities:
Other assets	(71		)	22			(78		)		—			(127		)
Accounts payable and accrued expenses	73			34			88				—			195
Taxes payable	(6		)	(5		)	31				—			20
Related party taxes payable	76						(179		)		—			(103		)
Net cash provided by operating activities	(38		)	320			1,128				—			1,410
Cash flows from investing activities:
Purchases of consumer finance receivables, net	—			(5,134		)	(10,398		)		5,936			(9,596		)
Principal collections and recoveries on consumer finance receivables	—			(124		)	7,648				—			7,524
Proceeds from sale of consumer finance receivables, net	—			5,936			—				(5,936		)	—
Funding of commercial finance receivables, net	—			(1,852		)	(26,938		)		824			(27,966		)
Collections of commercial finance receivables	—			1,067			25,758				46			26,871
Proceeds from sale of commercial finance receivables, net	—			824			—				(824		)	—
Purchases of leased vehicles, net	—			—			(2,262		)		—			(2,262		)
Proceeds from termination of leased vehicles	—			—			217				—			217
Acquisition of international operations, net of cash on hand	(3,222		)	(863		)	607				863			(2,615		)
Purchases of property and equipment	—			(3		)	(13		)		—			(16		)
Change in restricted cash	—			(16		)	(251		)		—			(267		)
Change in other assets	—			—			3				—			3
Net change in investment in affiliates	(29		)	(818		)	—				847			—
Net cash used in investing activities	(3,251		)	(983		)	(5,629		)		1,756			(8,107		)
Cash flows from financing activities:
Borrowings and issuance of secured debt	—			—			17,378				—			17,378
Payments on secured debt	—			—			(13,222		)		—			(13,222		)
Borrowings and issuance of unsecured debt	2,500			—			2,724				—			5,224
Payments on unsecured debt	—			—			(2,699		)		—			(2,699		)
Borrowings on related party line of credit	1,100			—			—				—			1,100
Payments on related party line of credit	(1,100		)	—			—				—			(1,100		)
Repayment of debt to Ally Financial	—			—			(1,416		)		—			(1,416		)
Net capital contributions	1,478			—			672				(850		)	1,300
Debt issuance costs	(30		)	—			(46		)		—			(76		)
Net change in due from/due to affiliates	(660		)	(194		)	1,763				(909		)	—
Other	1						1							2
Net cash provided by (used in) financing activities	3,289			(194		)	5,155				(1,759		)	6,491
Net (decrease) increase in cash and cash equivalents	—			(857		)	654				(3		)	(206		)
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			(12		)		3			(9		)
Cash and cash equivalents at beginning of period	—			1,252			37				—			1,289
Cash and cash equivalents at end of period	$	—		$	395		$	679			$	—		$	1,074

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONSOLIDATING STATEMENT OF CASH FLOWS

Year Ended December 31, 2012

(in millions)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Cash flows from operating activities:
Net income	$	463		$	501		$	587		$	(1,088	)	$	463
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	3			2			250			—			255
Accretion and amortization of loan and leasing fees	—			—			(53		)	—			(53		)
Amortization of carrying value adjustment	—			—			(11		)	—			(11		)
Amortization of purchase accounting adjustment	—			—			(32		)	—			(32		)
Provision for loan losses	—			231			73			—			304
Deferred income taxes	(10		)	78			(65		)	—			3
Stock based compensation expense	4			—			—			—			4
Other	—			2			(13		)	—			(11		)
Equity in income of affiliates	(489		)	(599		)	—			1,088			—
Changes in assets and liabilities:
Other assets	3			(4		)	3			—			2
Accounts payable and accrued expenses	3			32			13			—			48
Taxes payable	11			(1		)	(2		)	—			8
Intercompany taxes payable	258			—			—			—			258
Net cash provided by operating activities	246			242			750			—			1,238
Cash flows from investing activities:
Purchases of consumer finance receivables, net	—			(5,556		)	(4,888		)	4,888			(5,556		)
Principal collections and recoveries on consumer finance receivables	—			(1		)	4,008			—			4,007
Proceeds from sale of consumer finance receivables, net	—			4,888			—			(4,888		)	—
Funding of commercial finance receivables, net	—			(1,224		)	—			—			(1,224		)
Collections of commercial finance receivables	—			667			—			—			667
Purchases of leased vehicles, net	—			—			(1,077		)	—			(1,077		)
Proceeds from termination of leased vehicles	—			—			55			—			55
Purchases of property and equipment	—			(2		)	(11		)	—			(13		)
Change in restricted cash	—			—			312			—			312
Change in other assets	(45		)	31			3			—			(11		)
Net change in investment in affiliates	—			2,738			—			(2,738		)	—
Net cash (used in) provided by investing activities	(45		)	1,541			(1,598		)	(2,738		)	(2,840		)
Cash flows from financing activities:
Borrowings and issuance of secured debt	—			—			7,600			—			7,600
Payments on secured debt	—			—			(6,233		)	—			(6,233		)
Borrowings and issuance of unsecured debt	1,000			—			—			—			1,000
Debt issuance costs	(12		)	—			(36		)	—			(48		)
Retirement of debt	(1		)	—			—			—			(1		)
Net capital contribution to subsidiaries	—			—			(2,745		)	2,745			—
Net change in due from/due to affiliates	(1,188		)	(1,032		)	2,220			—			—
Net cash (used in) provided by financing activities	(201		)	(1,032		)	806			2,745			2,318
Net increase (decrease) in cash and cash equivalents	—			751			(42		)	7			716
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			8			(7		)	1
Cash and cash equivalents at beginning of period	—			501			71			—			572
Cash and cash equivalents at end of period	$	—		$	1,252		$	37		$	—		$	1,289

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONSOLIDATING STATEMENT OF CASH FLOWS

Year Ended December 31, 2011

(in millions)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Cash flows from operating activities:
Net income	$	386		$	388		$	506		$	(894	)	$	386
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6			2			102			—			110
Accretion and amortization of loan and leasing fees	—			(2		)	(19		)	—			(21		)
Amortization of carrying value adjustment	—			10			167			—			177
Amortization of purchase accounting adjustment	—			—			(68		)	—			(68		)
Provision for loan losses	—			158			20			—			178
Deferred income taxes	98			(1		)	(47		)	—			50
Stock based compensation expense	17			—			—			—			17
Other	2			18			(43		)				(23		)
Equity in income of affiliates	(405		)	(489		)				894			—
Changes in assets and liabilities:													—
Other assets	2			—			33			—			35
Accounts payable and accrued expenses	(35		)	30			(16		)	—			(21		)
Taxes payable	(76		)	5			(6		)	—			(77		)
Intercompany taxes payable	258			—			—			—			258
Net cash provided by operating activities	253			119			629			—			1,001
Cash flows from investing activities:
Purchases of consumer finance receivables, net	—			(5,021		)	(4,803		)	4,803			(5,021		)
Principal collections and recoveries on consumer finance receivables	—			1			3,718			—			3,719
Proceeds from sale of consumer finance receivables, net	—			4,803			—			(4,803		)	—
Purchases of leased vehicles, net	—						(857		)	—			(857		)
Proceeds from termination of leased vehicles	—			—			38			—			38
Acquisition of companies, net of cash acquired	—			—			(1		)	—			(1		)
Purchases of property and equipment	2			(2		)	(8		)	—			(8		)
Change in restricted cash	—			—			2			—			2
Change in other assets	—			(3		)	(9		)	—			(12		)
Net change in investment in affiliates	(7		)	792						(785		)	—
Net cash (used in) provided by investing activities	(5		)	570			(1,920		)	(785		)	(2,140		)
Cash flows from financing activities:
Borrowings and issuance of secured debt	—			—			8,067			—			8,067
Payments on secured debt	—			—			(6,922		)	—			(6,922		)
Borrowings and issuance of unsecured debt	500			—			—			—			500
Borrowings on related party line of credit	200			—			—			—			200
Payments on related party line of credit	(200		)	—			—			—			(200		)
Debt issuance costs	(8		)	—			(41		)	—			(49		)
Retirement of Debt	(75		)	—			—			—			(75		)
Net capital contribution to subsidiaries	—			16			721			(737		)	—
Other	(1		)	—			—			—			(1		)
Net change in (due from) due to affiliates	(653		)	(389		)	(463		)	1,505			—
Net cash (used in) provided by financing activities	(237		)	(373		)	1,362			768			1,520
Net increase in cash and cash equivalents	11			316			71			(17		)	381
Effect of foreign exchange rate changes on cash and cash equivalents	(11		)	—			(9		)	17			(3		)
Cash and cash equivalents at beginning of period	—			185			9			—			194
Cash and cash equivalents at end of period	$	—		$	501		$	71		$	—		$	572