v3.25.2
Securitizations and Variable Interest Entities (Tables)
6 Months Ended
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Variable Interest Entities Total Exposure and Amortized Cost and Fair Value of Securities Available for Sale
The following table summarizes the carrying value and total exposure to losses of its assets related to unconsolidated VIEs with which the Company has continuing involvement, but is not the primary beneficiary at June 30, 2025 and December 31, 2024. Total exposure represents the estimated loss the Company would incur under severe, hypothetical circumstances, such as if the value of the interests in the securitization trusts and any associated collateral declined to zero. The Company believes the possibility of this is remote. As such, the total exposure presented below is not an indication of the Company's expected losses.

June 30, 2025December 31, 2024
Carrying ValueTotal ExposureCarrying ValueTotal Exposure
(in millions)
Rated notes$359 $359 $355 $355 
Certificates and other assets107 107 109 109 
Total unconsolidated VIEs$466 $466 $464 $464 
The amortized cost and fair value of securities available for sale as of June 30, 2025 and December 31, 2024 were as follows:
June 30, 2025December 31, 2024
Amortized CostFair ValueAmortized CostFair Value
(in millions)
Rated notes$358 $359 $356 $355 
Certificates and other assets111 107 104 109 
Total securities available for sale$469 $466 $460 $464