v3.26.1
Derivative Financial Instruments
 3 Months Ended
Mar. 31, 2026
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Financial Instruments Derivative Financial Instruments
The following table presents the gross fair value amounts of GM Financial's derivative financial instruments and the associated notional amounts:
Fair Value LevelMarch 31, 2026December 31, 2025
NotionalFair Value of AssetsFair Value of LiabilitiesNotionalFair Value of AssetsFair Value of Liabilities
Derivatives designated as hedges(a)
Fair value hedges
Interest rate swaps(b)2$36,367 $55 $421 $33,880 $88 $457 
Cash flow hedges
Interest rate swaps22,486 28 15 2,302 18 23 
Foreign currency swaps(c)28,190 334 109 9,226 580 58 
Derivatives not designated as hedges(a)
Interest rate contracts2118,692 420 582 122,505 421 637 
Total derivative financial instruments(d)$165,734 $836 $1,127 $167,913 $1,107 $1,175 
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(a)The gains/losses included in our condensed consolidated income statements and statements of comprehensive income for the three months ended March 31, 2026 and 2025 were insignificant, unless otherwise noted. Amounts accrued for interest payments in a net receivable position are included in Other assets. Amounts accrued for interest payments in a net payable position are included in Other liabilities.
(b)The effect of fair value hedges in the condensed consolidated income statements includes insignificant losses for the three months ended March 31, 2026 and 2025.
(c)The effect of foreign currency cash flow hedges recognized in Accumulated other comprehensive loss in the condensed consolidated statements of comprehensive income includes losses of $163 million and gains of $157 million for the three months ended March 31, 2026 and 2025. The effect of foreign currency cash flow hedges reclassified from Accumulated other comprehensive loss in the condensed consolidated statements of comprehensive income into income includes insignificant losses and gains of $231 million for the three months ended March 31, 2026 and 2025. All amounts reclassified from Accumulated other comprehensive loss were recorded to GM Financial interest, operating, and other expenses in the condensed consolidated income statements.
(d)The fair value of derivative instruments that are classified as assets or liabilities available for offset was $515 million at March 31, 2026 and $520 million at December 31, 2025. GM Financial held an insignificant amount of collateral from counterparties available for netting against GM Financial's asset positions, and posted $585 million and $615 million of collateral to counterparties available for netting against GM Financial's liability positions at March 31, 2026 and December 31, 2025.

The fair value for Level 2 instruments was derived using the market approach based on observable market inputs including quoted prices of similar instruments and foreign exchange and interest rate forward curves. During the next 12 months, we expect an insignificant amount of gains will be reclassified into pre-tax earnings from derivatives designated for hedge accounting.

The following amounts were recorded in the condensed consolidated balance sheets related to items designated and qualifying as hedged items in fair value hedging relationships:
March 31, 2026December 31, 2025
Carrying Amount of Hedged ItemsCumulative Amount of Fair Value Hedging Adjustments(a)Carrying Amount of Hedged ItemsCumulative Amount of Fair Value Hedging Adjustments(a)
Short-term unsecured debt$4,219 $31 $4,633 $17 
Long-term unsecured debt29,321 645 30,554 676 
GM Financial unsecured debt$33,540 $677 $35,187 $693 
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(a)Includes $363 million and $428 million of unamortized losses remaining on hedged items for which hedge accounting has been discontinued at March 31, 2026 and December 31, 2025.