Debt (Tables)
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12 Months Ended |
Dec. 31, 2022 |
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| Interest expense and financing interest expense |
| | | | | | | | | | | | | | | | | | | Years Ended December 31, | | 2022 | | 2021 | | 2020 | | Automotive interest expense | $ | 987 | | | $ | 950 | | | $ | 1,098 | | | Automotive Financing - GM Financial interest expense | 2,881 | | | 2,546 | | | 3,023 | | | Total interest expense | $ | 3,868 | | | $ | 3,496 | | | $ | 4,121 | |
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| Schedule of maturities of long-term debt |
The following table summarizes contractual maturities including finance leases at December 31, 2022: | | | | | | | | | | | | | | | | | | | Automotive | | Automotive Financing | | Total | | 2023 | $ | 1,961 | | | $ | 36,912 | | | $ | 38,873 | | | 2024 | 118 | | | 21,144 | | | 21,262 | | | 2025 | 2,597 | | | 15,340 | | | 17,937 | | | 2026 | 61 | | | 7,817 | | | 7,878 | | | 2027 | 1,805 | | | 6,505 | | | 8,310 | | | Thereafter | 11,827 | | | 10,130 | | | 21,957 | | | $ | 18,369 | | | $ | 97,847 | | | $ | 116,217 | |
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| Automotive |
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| Debt carrying amount and fair value |
The following table presents debt in our automotive operations: | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | December 31, 2021 | | Carrying Amount | | Fair Value | | Carrying Amount | | Fair Value | | Secured debt | $ | 124 | | | $ | 123 | | | $ | 192 | | | $ | 212 | | | Unsecured debt(a) | 17,340 | | | 16,323 | | | 16,277 | | | 19,995 | | | Finance lease liabilities | 381 | | | 381 | | | 349 | | | 362 | | | Total automotive debt(b) | $ | 17,844 | | | $ | 16,828 | | | $ | 16,818 | | | $ | 20,569 | | | | | | | | | | | Fair value utilizing Level 1 inputs | | | $ | 15,971 | | | | | $ | 19,085 | | | Fair value utilizing Level 2 inputs | | | $ | 857 | | | | | $ | 1,484 | | | | | | | | | | | | | | | | | | | Available under credit facility agreements(c) | | | $ | 15,095 | | | | | $ | 15,208 | | | Weighted-average interest rate on outstanding short-term debt(d) | | | 6.1 | % | | | | 9.8 | % | | Weighted-average interest rate on outstanding long-term debt(d) | | | 5.8 | % | | | | 5.8 | % |
__________ (a)Primarily consist of senior notes. (b)Includes net discount and debt issuance costs of $525 million and $512 million at December 31, 2022 and 2021. (c)Excludes our 364-day, $2.0 billion facility designated for exclusive use by GM Financial. (d)Includes coupon rates on debt denominated in various foreign currencies and interest free loans.
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| GM Financial |
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| Debt carrying amount and fair value |
The following table presents debt of GM Financial: | | | | | | | | | | | | | | | | | | | | | | | | | December 31, 2022 | | December 31, 2021 | | Carrying Amount | | Fair Value | | Carrying Amount | | Fair Value | | Secured debt | $ | 42,131 | | | $ | 41,467 | | | $ | 39,338 | | | $ | 39,401 | | | Unsecured debt | 54,723 | | | 52,270 | | | 53,223 | | | 54,357 | | | Total GM Financial debt | $ | 96,854 | | | $ | 93,738 | | | $ | 92,561 | | | $ | 93,758 | | | | | | | | | | | Fair value utilizing Level 2 inputs | | | $ | 91,545 | | | | | $ | 92,250 | | | Fair value utilizing Level 3 inputs | | | $ | 2,192 | | | | | $ | 1,508 | |
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