Discontinued Operations

12 Months Ended

Dec. 31, 2018

Discontinued Operations and Disposal Groups [Abstract]

Discontinued Operations

Discontinued Operations

On October 31, 2017, we completed the sale of certain of our European Operations to Banque PSA Finance S.A. and BNP Paribas Personal Finance S.A.

The net consideration paid at closing for our European Operations was $1.1 billion, and we recognized a disposal loss of $525 million, which includes $197 million related to the recognition of foreign currency translation losses. Following the sale of our European Operations, we paid a $550 million special dividend to GM.

The following table summarizes the results of operations of the European Operations:

	Years Ended December 31,
	2017			2016
Total revenue	$	474		$	574
Interest expense	79			136
Other expenses	263			287
Total costs and expenses	342			423
Income from discontinued operations before income taxes	132			151
Loss on sale of discontinued operations before income taxes	525			—
(Loss) income from discontinued operations before income taxes	(393		)	151
Income tax provision	31			54
(Loss) income from discontinued operations, net of tax	$	(424	)	$	97