8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 26, 2018

General Motors Financial Company, Inc.

(Exact name of registrant as specified in its charter)

Texas	1-10667	75-2291093
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

801 Cherry Street, Suite 3500, Fort Worth, Texas 76102

(Address of principal executive offices, including Zip Code)

(817) 302-7000

(Registrant’s telephone number, including area code)

(Not Applicable)

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b-2).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION

On April 26, 2018, General Motors Financial Company, Inc. (the “Company”) issued a press release announcing the results of operations for the quarter ended March 31, 2018. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

In lieu of a conference call, management recorded remarks addressing the results. This recording, along with the presentation slides and the press release, will be posted to the Company’s website. Materials can be accessed via the Investor Relations section of the website at www.gmfinancial.com.

Item 9.01 FINANCIAL STATEMENTS AND EXHIBITS

Exhibit No.	Description of Exhibit
99.1	Press Release dated April 26, 2018, entitled “GM Financial Reports March Quarter 2018 Operating Results”

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		General Motors Financial Company, Inc.
		(Registrant)
Date: April 26, 2018	By:	/s/ SUSAN B. SHEFFIELD
		Susan B. Sheffield
		Executive Vice President and Chief Financial Officer

EX-99.1

Exhibit 99.1

GM FINANCIAL REPORTS MARCH QUARTER 2018

OPERATING RESULTS

• March quarter net income of $369 million

• Retail loan and lease originations of $10.8 billion for the March quarter

• Earning assets of $88.1 billion at March 31, 2018

• Available liquidity of $19.4 billion at March 31, 2018

FORT WORTH, TEXAS April 26, 2018 – GENERAL MOTORS FINANCIAL COMPANY, INC.

(“GM Financial” or the “Company”) announced net income of $369 million for the quarter ended March 31, 2018, compared to $202 million for the quarter ended March 31, 2017.

Retail loan originations were $5.1 billion for the quarter ended March 31, 2018, compared to $4.4 billion for the quarter ended December 31, 2017, and $5.6 billion for the quarter ended March 31, 2017. The outstanding balance of retail finance receivables was $34.3 billion at March 31, 2018.

Operating lease originations were$5.7 billionforthequarter endedMarch 31, 2018, compared to$5.8 billionfor the quarter ended December 31, 2017, and$6.3 billionfor the quarter endedMarch 31, 2017. Leased vehicles, net was$43.4 billionatMarch 31, 2018.

The outstanding balance of commercial finance receivables was$10.4 billionatMarch 31, 2018, compared to$10.3 billion at December 31, 2017 and $8.5 billionatMarch 31, 2017.

Retail finance receivables 31-60 days delinquent were3.7%of the portfolio atMarch 31, 2018and3.4% at March 31, 2017. Accounts more than 60 days delinquent were1.7%of the portfolio atMarch 31, 2018and1.4%atMarch 31, 2017.

Annualized net charge-offs were2.1%of average retail finance receivables for the quarter endedMarch 31, 2018and2.3% for the quarter ended March 31, 2017.

The Company had total available liquidity of $19.4 billion at March 31, 2018, consisting of $4.2 billion of cash and cash equivalents, $14.1 billion of borrowing capacity on unpledged eligible assets, $0.1 billion of borrowing capacity on committed unsecured lines of credit and $1.0 billion of borrowing capacity on the Junior Subordinated Revolving Credit Facility from GM.

Earnings resulting from the Company's equity investment in SAIC-GMAC, a joint venture that conducts auto finance operations in China, were $52 million for the quarter ended March 31, 2018 compared to $47 million for the quarter ended March 31, 2017.

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Operating Results

On October 31, 2017, we completed the sale of certain of our European subsidiaries and branches (collectively, the "European Operations") to Banque PSA Finance S.A. and BNP Paribas Personal Finance S.A. The European Operations are presented as discontinued operations in our condensed consolidated financial statements for the three months ended March 31, 2017. Unless otherwise indicated, information in this release relates to our continuing operations.

About GM Financial

General Motors Financial Company, Inc. is the wholly-owned captive finance subsidiary of General Motors Company and is headquartered in Fort Worth, Texas. For more information, visit www.gmfinancial.com.

Forward-Looking Statements

This presentation contains several “forward-looking statements.” Forward-looking statements are those that use words such as “believe,” “expect,” “intend,” “plan,” “may,” “likely,” “should,” “estimate,” “continue,” “future” or "anticipate" and other comparable expressions. These words indicate future events and trends. Forward-looking statements are our current views with respect to future events and financial performance. These forward-looking statements are subject to many assumptions, risks and uncertainties that could cause actual results to differ significantly from historical results or from those anticipated by us. The most significant risks are detailed from time to time in our filings and reports with the Securities and Exchange Commission, including our annual report on Form 10-K for the year ended December 31, 2017. Such risks include - but are not limited to - GM’s ability to sell new vehicles that we finance in the markets we serve; the viability of GM-franchised dealers that are commercial loan customers; the availability and cost of sources of financing; our joint venture in China, which we cannot operate solely for our benefit and over which we have limited control; the level of net charge-offs, delinquencies and prepayments on the loans and leases we originate; the effect, interpretation or application of new or existing laws, regulations, court decisions and accounting pronouncements; the prices at which used cars are sold in the wholesale auction markets; vehicle return rates and the residual value performance on vehicles we lease; interest rate fluctuations and certain related derivatives exposure; foreign currency exchange rate fluctuations; our financial condition and liquidity, as well as future cash flows and earnings; changes in general economic and business conditions; competition; our ability to manage risks related to security breaches and other disruptions to our networks and systems; and changes in business strategy, including expansion of product lines and credit risk appetite, acquisitions and divestitures. If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those expected, estimated or projected. It is advisable not to place undue reliance on any forward-looking statements. We undertake no obligation to, and do not, publicly update or revise any forward-looking statements, except as required by federal securities laws, whether as a result of new information, future events or otherwise.

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General Motors Financial Company, Inc.

Condensed Consolidated Statements of Income

(Unaudited, in millions)

	Three Months Ended March 31,
	2018		2017
Revenue
Finance charge income	$	866	$	752
Leased vehicle income	2,447		1,931
Other income	98		65
Total revenue	3,411		2,748
Costs and expenses
Operating expenses	365		330
Leased vehicle expenses	1,787		1,429
Provision for loan losses	136		211
Interest expense	732		596
Total costs and expenses	3,020		2,566
Equity income	52		47
Income from continuing operations before income taxes	443		229
Income tax provision	74		50
Income from continuing operations	369		179
Income from discontinued operations, net of tax	—		23
Net income	$	369	$	202
Net income attributable to common shareholder	$	355	$	202

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Condensed Consolidated Balance Sheets

(Unaudited, in millions)

	March 31, 2018		December 31, 2017
ASSETS
Cash and cash equivalents	$	4,178	$	4,265
Finance receivables, net	43,773		42,172
Leased vehicles, net	43,444		42,882
Goodwill	1,198		1,197
Equity in net assets of non-consolidated affiliate	1,281		1,187
Related party receivables	659		309
Other assets	6,489		5,003
Total assets	$	101,022	$	97,015
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Secured debt	$	39,441	$	39,887
Unsecured debt	44,079		40,830
Deferred income	3,336		3,221
Related party payables	132		92
Other liabilities	3,286		2,691
Total liabilities	90,274		86,721
Shareholders' equity	10,748		10,294
Total liabilities and shareholders' equity	$	101,022	$	97,015

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Operational and Financial Data

(Unaudited, Dollars in millions)

	Three Months Ended March 31,
Originations	2018			2017
Retail finance receivables originations	$	5,078		$	5,607
GM lease originations	$	5,712		$	6,273
GM new vehicle loans and leases as a percentage of total loan and lease originations	89.7		%	87.7		%

	Three Months Ended March 31,
Average Earning Assets	2018		2017
Average retail finance receivables	$	33,471	$	27,484
Average commercial finance receivables	10,068		7,963
Average finance receivables	43,539		35,447
Average leased vehicles, net	43,177		35,751
Average earning assets	$	86,716	$	71,198

Ending Earning Assets	March 31, 2018		March 31, 2017
Retail finance receivables, net of fees	$	34,320	$	29,276
Commercial finance receivables, net of fees	10,365		8,504
Leased vehicles, net	43,444		37,090
Ending earning assets	$	88,129	$	74,870

Total Finance Receivables	March 31, 2018			December 31, 2017
Retail
Retail finance receivables, net of fees(a)	$	34,320		$	32,802
Less: allowance for loan losses	(858		)	(889		)
Total retail finance receivables, net	33,462			31,913
Commercial
Commercial finance receivables, net of fees	10,365			10,312
Less: allowance for loan losses	(54		)	(53		)
Total commercial finance receivables, net	10,311			10,259
Total finance receivables, net	$	43,773		$	42,172

(a) Net of unearned income, unamortized premiums and discounts, and deferred fees and costs of $217 million and $228 million at

March 31, 2018 and December 31, 2017.

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Allowance for Loan Losses	March 31, 2018		December 31, 2017
Allowance for loan losses as a percentage of retail finance receivables, net of fees	2.5	%	2.7	%
Allowance for loan losses as a percentage of commercial finance receivables, net of fees	0.5	%	0.5	%

Delinquencies	March 31, 2018		March 31, 2017
Loan delinquency as a percentage of ending retail finance receivables:
31 - 60 days	3.7	%	3.4	%
Greater than 60 days	1.7		1.4
Total	5.4	%	4.8	%

	Three Months Ended March 31,
Charge-offs and Recoveries	2018			2017
Charge-offs	$	295		$	298
Less: recoveries	(123		)	(143		)
Net charge-offs	$	172		$	155
Net charge-offs as an annualized percentage of average retail finance receivables	2.1		%	2.3		%
Recovery rate as a percentage of gross repossession charge-offs in North America	53.1		%	51.6		%

	Three Months Ended March 31,
Operating Expenses	2018		2017
Operating expenses as an annualized percentage of average earning assets	1.7	%	1.9	%

Investor Relations contact:

Stephen Jones

Vice President, Investor Relations

(817) 302-7119

Investors@gmfinancial.com

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