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(“GM Financial” or the “Company”) announced net income of $571 million for the quarter ended June 30, 2023, compared to $584 million for the quarter ended March 31, 2023, and $829 million for the quarter ended June 30, 2022. Net income for the six months ended June 30, 2023 was $1.2 billion, compared to $1.8 billion for the six months ended June 30, 2022.

Retail loan originations were $9.1 billion for both the quarters ended June 30, 2023 and March 31, 2023, compared to $9.0 billion for the quarter ended June 30, 2022. Retail loan originations for the six months ended June 30, 2023 were $18.2 billion, compared to $17.0 billion for the six months ended June 30, 2022. The outstanding balance of retail finance receivables, net of fees was $69.7 billion at June 30, 2023, compared to $67.7 billion at March 31, 2023 and $61.2 billion at June 30, 2022.

Operating lease originations were $4.6 billion for the quarter ended June 30, 2023, compared to $3.9 billion for both the quarters ended March 31, 2023 and June 30, 2022. Operating lease originations for the six months ended June 30, 2023 were $8.5 billion, compared to $7.4 billion for the six months ended June 30, 2022. Leased vehicles, net was $31.6 billion at June 30, 2023, compared to $31.8 billion at March 31, 2023 and $35.3 billion at June 30, 2022.

The outstanding balance of commercial finance receivables, net of fees was $11.5 billion at June 30, 2023, compared to $10.6 billion at March 31, 2023 and $7.7 billion at June 30, 2022.

Retail finance receivables 31-60 days delinquent were 1.8% of the portfolio at both June 30, 2023 and June 30, 2022. Accounts more than 60 days delinquent were 0.6% of the portfolio at both June 30, 2023 and June 30, 2022.

Annualized net charge-offs were 0.8% of average retail finance receivables for the quarter ended June 30, 2023 and 0.6% for the quarter ended June 30, 2022. For the six months ended June 30, 2023, annualized net charge-offs were 0.8%, compared to 0.6% for the six months ended June 30, 2022.

The Company had total available liquidity of $33.0 billion at June 30, 2023, consisting of $5.2 billion of cash and cash equivalents, $24.2 billion of borrowing capacity on unpledged eligible assets, $0.6 billion of borrowing capacity on committed unsecured lines of credit, $1.0 billion of borrowing capacity on the Junior Subordinated Revolving Credit Facility from GM, and $2.0 billion of borrowing capacity on the GM Revolving 364-Day Credit Facility.

Earnings resulting from the Company's equity investment in joint ventures that conduct automotive finance operations in China were $37 million for the quarter ended June 30, 2023, compared to $41 million for the quarter ended March 31, 2023 and $50 million for the quarter ended June 30, 2022. Earnings for the six months ended June 30, 2023 were $78 million, compared to $104 million for the six months ended June 30, 2022.

General Motors Financial Company, Inc. is the wholly owned captive finance subsidiary of General Motors Company and is headquartered in Fort Worth, Texas. Additional materials addressing the Company’s results of operations for the quarter ended June 30, 2023 can be accessed via the Investor Relations section of the Company’s website at https://investor.gmfinancial.com.


	Three Months Ended June 30,				Six Months Ended June 30,
	2023		2022		2023		2022
Revenue
Finance charge income	$	1,490	$	1,062	$	2,859	$	2,072
Leased vehicle income	1,820		1,989		3,638		4,056
Other income	187		95		343		175
Total revenue	3,498		3,146		6,840		6,302
Costs and expenses
Operating expenses	456		393		899		766
Leased vehicle expenses	1,011		856		2,050		1,711
Provision for loan losses	167		198		298		320
Interest expense	1,135		642		2,134		1,219
Total costs and expenses	2,768		2,089		5,381		4,016
Equity income	37		50		78		104
Income before income taxes	766		1,106		1,537		2,390
Income tax provision	195		277		382		599
Net income (loss)	571		829		1,155		1,791
Less: cumulative dividends on preferred stock	30		30		59		59
Net income (loss) attributable to common shareholder	$	541	$	799	$	1,096	$	1,731


	June 30, 2023		December 31, 2022
ASSETS
Cash and cash equivalents	$	5,182	$	4,005
Finance receivables, net of allowance for loan losses of $2,202 and $2,096	79,005		74,514
Leased vehicles, net	31,560		32,701
Goodwill and intangible assets	1,184		1,171
Equity in net assets of nonconsolidated affiliates	1,667		1,665
Related party receivables	605		495
Other assets	8,969		7,995
Total assets	$	128,173	$	122,545
LIABILITIES AND SHAREHOLDERS' EQUITY
Liabilities
Secured debt	$	42,004	$	42,131
Unsecured debt	59,614		54,723
Deferred income	2,303		2,248
Related party payables	318		115
Other liabilities	8,650		8,318
Total liabilities	112,888		107,535
Total shareholders' equity	15,284		15,010
Total liabilities and shareholders' equity	$	128,173	$	122,545


	Three Months Ended June 30,				Six Months Ended June 30,
Originations	2023		2022		2023		2022

Retail finance receivables originations	$	9,102	$	8,961	$	18,206	$	17,035
Lease originations	$	4,585	$	3,870	$	8,511	$	7,412


	Three Months Ended June 30,				Six Months Ended June 30,
Average Earning Assets	2023		2022		2023		2022

Average retail finance receivables	$	68,705	$	60,451	$	67,664	$	59,624
Average commercial finance receivables	10,954		7,716		10,891		7,345
Average finance receivables	79,659		68,167		78,555		66,969
Average leased vehicles, net	31,680		35,998		31,994		36,630
Average earning assets	$	111,339	$	104,165	$	110,549	$	103,598


Ending Earning Assets	June 30, 2023		December 31, 2022

Retail finance receivables, net of fees	$	69,722	$	65,322
Commercial finance receivables, net of fees	11,485		11,288
Leased vehicles, net	31,560		32,701
Ending earning assets	$	112,767	$	109,311


Finance Receivables	June 30, 2023		December 31, 2022

Retail
Retail finance receivables, net of fees	$	69,722	$	65,322
Less: allowance for loan losses	(2,166)		(2,062)
Total retail finance receivables, net	67,557		63,260
Commercial
Commercial finance receivables, net of fees	11,485		11,288
Less: allowance for loan losses	(36)		(34)
Total commercial finance receivables, net	11,449		11,254
Total finance receivables, net	$	79,005	$	74,514


Allowance for Loan Losses	June 30, 2023		December 31, 2022

Allowance for loan losses as a percentage of retail finance receivables, net of fees	3.1	%	3.2	%
Allowance for loan losses as a percentage of commercial finance receivables, net of fees	0.3	%	0.3	%


Delinquencies	June 30, 2023		June 30, 2022

Loan delinquency as a percentage of ending retail finance receivables:
31 - 60 days	1.8	%	1.8	%
Greater than 60 days	0.6		0.6
Total	2.5	%	2.4	%


	Three Months Ended June 30,						Six Months Ended June 30,
Charge-offs and Recoveries	2023			2022			2023			2022

Charge-offs	$	323		$	247		$	645		$	521
Less: recoveries	(191)			(161)			(377)			(339)
Net charge-offs	$	132		$	86		$	269		$	183
Net charge-offs as an annualized percentage of average retail finance receivables	0.8		%	0.6		%	0.8		%	0.6		%


	Three Months Ended June 30,				Six Months Ended June 30,
Operating Expenses	2023		2022		2023		2022

Operating expenses as an annualized percentage of average earning assets	1.6	%	1.5	%	1.6	%	1.5	%