Debt

6 Months Ended

Jun. 30, 2024

Debt Disclosure [Abstract]

Debt

Debt

	June 30, 2024				December 31, 2023
	Carrying Amount		Fair Value		Carrying Amount		Fair Value
Secured debt
Revolving credit facilities	$	1,693	$	1,693	$	4,960	$	4,960
Securitization notes payable	42,938		42,868		40,284		40,012
Total secured debt	44,630		44,560		45,243		44,971
Unsecured debt
Senior notes	54,715		54,473		49,990		49,537
Credit facilities	1,893		1,883		2,034		2,026
Other unsecured debt	8,868		8,915		8,060		8,088
Total unsecured debt	65,476		65,271		60,084		59,651
Total secured and unsecured debt	$	110,106	$	109,831	$	105,327	$	104,622
Fair value utilizing Level 2 inputs			$	107,820			$	102,262
Fair value utilizing Level 3 inputs			$	2,010			$	2,360

Secured Debt Most of the secured debt was issued by VIEs and is repayable only from proceeds related to the underlying pledged assets. Refer to Note 7 for further information.

During the six months ended June 30, 2024, we renewed credit facilities with a total borrowing capacity of $17.0 billion, and we issued $13.5 billion in aggregate principal amount of securitization notes payable with an initial weighted average interest rate of 5.42% and maturity dates ranging from 2024 to 2036.

Unsecured Debt During the six months ended June 30, 2024, we issued $10.7 billion in aggregate principal amount of senior notes with an initial weighted average interest rate of 5.38% and maturity dates ranging from 2027 to 2034.

General Motors Financial Company, Inc. is the sole guarantor of its subsidiaries' unsecured debt obligations for which a guarantee is provided.

Compliance with Debt Covenants Several of our revolving credit facilities require compliance with certain financial and operational covenants as well as regular reporting to lenders, including providing certain subsidiary financial statements. Certain of our secured debt agreements also contain various covenants, including maintaining portfolio performance ratios as well as limits on deferment levels. Our unsecured debt obligations contain covenants including limitations on our ability to incur certain liens. At June 30, 2024, we were in compliance with these debt covenants.