Guarantor Consolidating Financial Statements (Tables)

9 Months Ended

Sep. 30, 2014

Guarantor Consolidating Financial Statements [abstract]

Condensed Balance Sheet [Table Text Block]

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Assets
Cash and cash equivalents	$	—		$	809		$	708		$	—		$	1,517
Finance receivables, net	—			1,901			29,821			—			31,722
Restricted cash	—			19			2,041			—			2,060
Property and equipment, net	—			8			157			—			165
Leased vehicles, net	—			—			5,796			—			5,796
Deferred income taxes	22			—			518			(183		)	357
Goodwill	1,095			—			150			—			1,245
Related party receivables	—			18			177			—			195
Other assets	97			45			374			—			516
Due from affiliates	6,510			—			—			(6,510		)	—
Investment in affiliates	7,373			3,397			—			(10,770		)	—
Total assets	$	15,097		$	6,197		$	39,742		$	(17,463	)	$	43,573
Liabilities and Shareholder's Equity
Liabilities:
Secured debt	$	—		$	—		$	22,932		$	—		$	22,932
Unsecured debt	7,500			—			3,342			—			10,842
Accounts payable and accrued expenses	86			141			763			—			990
Deferred income	—			—			317			—			317
Deferred income taxes	—			200			4			(183		)	21
Taxes payable	76			—			163			—			239
Related party taxes payable	877			—			1			(1		)	877
Related party payables	—			—			603			—			603
Other liabilities	—			22			172			—			194
Due to affiliates	—			1,760			4,749			(6,509		)	—
Total liabilities	8,539			2,123			33,046			(6,693		)	37,015
Shareholder's equity:
Common stock	—			—			698			(698		)	—
Additional paid-in capital	4,798			79			3,111			(3,190		)	4,798
Accumulated other comprehensive (loss) income	(207		)	(38		)	(192		)	230			(207		)
Retained earnings	1,967			4,033			3,079			(7,112		)	1,967
Total shareholder's equity	6,558			4,074			6,696			(10,770		)	6,558
Total liabilities and shareholder's equity	$	15,097		$	6,197		$	39,742		$	(17,463	)	$	43,573

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING BALANCE SHEET

December 31, 2013

(In millions)

(Unaudited)

	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 income taxes	(28		)	161			(46		)	—			87
Taxes payable	83			—			204			—			287
Related party taxes payable	643			—			1			(1		)	643
Related party payables	—			—			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 (loss)	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

Condensed Income Statement [Table Text Block]

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	48		$	835		$	—		$	883
Leased vehicle income	—			—			297			—			297
Other income	18			115			46			(98		)	81
Equity in income of affiliates	242			139			—			(381		)	—
	260			302			1,178			(479		)	1,261
Costs and expenses
Salaries and benefits	—			64			94			—			158
Other operating expenses	117			(75		)	160			(63		)	139
Total operating expenses	117			(11		)	254			(63		)	297
Leased vehicle expenses	—			—			228			—			228
Provision for loan losses	—			97			63			—			160
Interest expense	56			8			339			(35		)	368
	173			94			884			(98		)	1,053
Income before income taxes	87			208			294			(381		)	208
Income tax (benefit) provision	(71		)	27			94			—			50
Net income	$	158		$	181		$	200		$	(381	)	$	158
Comprehensive (loss) income	$	(114	)	$	148		$	(71	)	$	(77	)	$	(114	)

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Three Months Ended September 30, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	37		$	610	$	—		$	647
Leased vehicle income	—			—			172		—			172
Other income	42			85			100		(179		)	48
Equity in income of affiliates	113			123			—		(236		)	—
	155			245			882		(415		)	867
Costs and expenses
Salaries and benefits	—			56			67		—			123
Other operating expenses	(74		)	42			112		—			80
Total operating expenses	(74		)	98			179		—			203
Leased vehicle expenses	—			—			133		—			133
Provision for loan losses	—			53			64		—			117
Interest expense	57			54			236		(179		)	168
Acquisition and integration expenses	—			—			7		—			7
	(17		)	205			619		(179		)	628
Income before income taxes	172			40			263		(236		)	239
Income tax provision (benefit)	11			(25		)	92		—			78
Net income	$	161		$	65		$	171	$	(236	)	$	161
Comprehensive income	$	256		$	79		$	266	$	(345	)	$	256

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Nine Months Ended September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	117		$	2,478	$	—		$	2,595
Leased vehicle income	—			—			735		—			735
Other income	58			346			126		(311		)	219
Equity in income of affiliates	601			408			—		(1,009		)	—
	659			871			3,339		(1,320		)	3,549
Costs and expenses
Salaries and benefits	—			180			268		—			448
Other operating expenses	112			(1		)	474		(187		)	398
Total operating expenses	112			179			742		(187		)	846
Leased vehicle expenses	—			—			563		—			563
Provision for loan losses	—			232			176		—			408
Interest expense	155			27			979		(124		)	1,037
	267			438			2,460		(311		)	2,854
Income before income taxes	392			433			879		(1,009		)	695
Income tax (benefit) provision	(86		)	11			292		—			217
Net income	$	478		$	422		$	587	$	(1,009	)	$	478
Comprehensive income	$	260		$	392		$	371	$	(763	)	$	260

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF INCOME

Nine Months Ended September 30, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors		Eliminations			Consolidated
Revenue
Finance charge income	$	—		$	106		$	1,603	$	—		$	1,709
Leased vehicle income	—			—			415		—			415
Other income	91			209			228		(409		)	119
Equity in income of affiliates	413			427			—		(840		)	—
	504			742			2,246		(1,249		)	2,243
Costs and expenses
Salaries and benefits	—			158			155		—			313
Other operating expenses	(76		)	(7		)	272		—			189
Total operating expenses	(76		)	151			427		—			502
Leased vehicle expenses	—			—			314		—			314
Provision for loan losses	—			180			131		—			311
Interest expense	128			143			552		(409		)	414
Acquisition and integration expenses	—			—			29		—			29
	52			474			1,453		(409		)	1,570
Income before income taxes	452			268			793		(840		)	673
Income tax provision (benefit)	7			(52		)	273		—			228
Net income	$	445		$	320		$	520	$	(840	)	$	445
Comprehensive income	$	475		$	341		$	553	$	(894	)	$	475

Condensed Cash Flow Statement [Table Text Block]

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Nine Months Ended September 30, 2014

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	255		$	233		$	912		$	—		$	1,400
Cash flows from investing activities:
Purchases of consumer finance receivables, net	—			(4,872		)	(9,297		)	3,319			(10,850		)
Principal collections and recoveries on consumer finance receivables	—			(109		)	8,233			—			8,124
Proceeds from sale of consumer finance receivables, net	—			3,319			—			(3,319		)	—
Net collections (funding) of commercial finance receivables	—			160			(568		)	—			(408		)
Purchases of leased vehicles, net	—			—			(3,227		)	—			(3,227		)
Proceeds from termination of leased vehicles	—			—			395			—			395
Acquisition of international operations, net of cash acquired	(46		)	—			—			—			(46		)
Purchases of property and equipment	—			(4		)	(33		)	—			(37		)
Change in restricted cash	—			1			(188		)	—			(187		)
Change in other assets	—			—			(2		)	—			(2		)
Net change in investment in affiliates	—			546			—			(546		)	—
Net cash used in investing activities	(46		)	(959		)	(4,687		)	(546		)	(6,238		)
Cash flows from financing activities:
Net decrease in debt (original maturities less than three months)	—			—			(913		)	—			(913		)
Borrowings and issuance of secured debt	—			—			15,847			—			15,847
Payments on secured debt	—			—			(13,568		)	—			(13,568		)
Borrowings and issuance of unsecured debt	3,500			—			1,903			—			5,403
Payments on unsecured debt	—			—			(1,339		)	—			(1,339		)
Net capital contributions	26			—			(572		)	546			—
Debt issuance costs	(39		)	—			(68		)				(107		)
Net change in due from/due to affiliates	(3,696		)	1,140			2,556			—			—
Net cash (used in) provided by financing activities	(209		)	1,140			3,846			546			5,323
Net increase in cash and cash equivalents	—			414			71			—			485
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			(42		)				(42		)
Cash and cash equivalents at beginning of period	—			395			679			—			1,074
Cash and cash equivalents at end of period	$	—		$	809		$	708		$	—		$	1,517

GENERAL MOTORS FINANCIAL COMPANY, INC.

CONDENSED CONSOLIDATING STATEMENT OF CASH FLOWS

Nine Months Ended September 30, 2013

(In millions)

(Unaudited)

	General Motors Financial Company, Inc.			Guarantor			Non- Guarantors			Eliminations			Consolidated
Net cash provided by operating activities	$	106		$	286		$	862		$	—		$	1,254
Cash flows from investing activities:
Purchases of consumer finance receivables, net	—			(3,971		)	(6,546		)	4,207			(6,310		)
Principal collections and recoveries on consumer finance receivables	—			—			5,099			—			5,099
Proceeds from sale of consumer finance receivables, net	—			4,207			—			(4,207		)	—
Net funding of commercial finance receivables	—			(2,326		)	(886		)	2,593			(619		)
Proceeds from sale of commercial finance receivables, net	—			2,593			—			(2,593		)	—
Purchases of leased vehicles, net	—			—			(1,746		)	—			(1,746		)
Proceeds from termination of leased vehicles	—			—			142			—			142
Acquisition of international operations, net of cash acquired	(2,547		)	(863		)	440			863			(2,107		)
Purchases of property and equipment	—			(1		)	(9		)	—			(10		)
Change in restricted cash	—			—			(74		)	—			(74		)
Change in other assets	—			(44		)	22			—			(22		)
Net change in investment in affiliates	(29		)	(350		)	—			379			—
Net cash used in investing activities	(2,576		)	(755		)	(3,558		)	1,242			(5,647		)
Cash flows from financing activities:
Borrowings and issuance of secured debt	—			—			11,676			—			11,676
Payments on secured debt	—			—			(9,009		)	—			(9,009		)
Borrowings and issuance of unsecured debt	2,500			—			1,698			—			4,198
Payments on unsecured debt	—			—			(1,817		)	—			(1,817		)
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	1,300			—			382			(382		)	1,300
Debt issuance costs	(29		)	—			(40		)	—			(69		)
Net change in due from/due to affiliates	(1,301		)	467			1,697			(863		)	—
Net cash provided by financing activities	2,470			467			3,171			(1,245		)	4,863
Net increase (decrease) in cash and cash equivalents	—			(2		)	475			(3		)	470
Effect of foreign exchange rate changes on cash and cash equivalents	—			—			(6		)	3			(3		)
Cash and cash equivalents at beginning of period	—			1,252			37			—			1,289
Cash and cash equivalents at end of period	$	—		$	1,250		$	506		$	—		$	1,756