We use the equity method to account for our equity interest in joint ventures. Revenue and expenses of our joint ventures are not consolidated into our financial statements; rather, our proportionate share of the earnings of each joint venture is reflected as equity income (loss).

There have been no ownership changes in our joint ventures since December 31, 2025. The following table presents certain aggregated operating data of our joint ventures:


	Three Months Ended September 30,				Nine Months Ended September 30,
Summarized Operating Data	2026		2025		2026		2025
Finance charge income	$	72	$	114	$	245	$	396
Income before income taxes	$	34	$	35	$	143	$	143
Net income	$	23	$	26	$	99	$	108

At September 30, 2026 and December 31, 2025, we had undistributed earnings of $415 million and $589 million related to our nonconsolidated affiliates. In September 2026, SAIC-GMAC Automotive Finance Company Limited declared a $596 million cash dividend of which our share is $209 million. Half of the dividend payment, net of tax, is expected to be received in the fourth quarter of 2026, and the other half of the dividend payment, net of tax, is expected to be received in the third quarter of 2027.