v3.26.3
GM Financial Receivables and Transactions
 9 Months Ended
Sep. 30, 2026
GM Financial  
Finance Receivables [Line Items]  
GM Financial Receivables and Transactions GM Financial Receivables and Transactions
September 30, 2026December 31, 2025
RetailCommercial(a)TotalRetailCommercial(a)Total
GM Financial receivables$76,651 $17,675 $94,326 $75,404 $16,970 $92,374 
Less: allowance for loan losses(2,826)(69)(2,895)(2,656)(68)(2,725)
GM Financial receivables, net$73,825 $17,606 $91,431 $72,748 $16,902 $89,650 
Fair value of GM Financial receivables utilizing Level 2 inputs$17,606 $16,902 
Fair value of GM Financial receivables utilizing Level 3 inputs$73,981 $74,409 
__________
(a)Commercial finance receivables include dealer financing of $17.2 billion and $16.4 billion, and other financing of $450 million and $596 million at September 30, 2026 and December 31, 2025. Commercial finance receivables are presented net of dealer cash management balances of $3.6 billion and $3.4 billion at September 30, 2026 and December 31, 2025. Under the cash management program, subject to certain conditions, a dealer may choose to reduce the amount of interest on its floorplan line by making principal payments to GM Financial in advance.
Three Months EndedNine Months Ended
September 30, 2026September 30, 2025September 30, 2026September 30, 2025
Allowance for loan losses at beginning of period$2,866 $2,720 $2,725 $2,458 
Provision for loan losses340 244 996 926 
Charge-offs(563)(494)(1,643)(1,463)
Recoveries259 257 812 778 
Effect of foreign currency(8)8 5 37 
Allowance for loan losses at end of period$2,895 $2,736 $2,895 $2,736 

The allowance for loan losses as a percentage of finance receivables was 3.1% and 2.9% at September 30, 2026 and December 31, 2025. The increase in the allowance for retail loan losses as a percentage of retail finance receivables is primarily due to changes in the composition of credit mix of the portfolio.

Retail Finance Receivables GM Financial's retail finance receivables portfolio includes loans made to consumers and businesses to finance the purchase of vehicles for personal and commercial use. The following tables are consolidated summaries of the retail finance receivables by FICO score or its equivalent, determined at origination, for each vintage of the retail finance receivables portfolio at September 30, 2026 and December 31, 2025:
Year of OriginationSeptember 30, 2026
20262025202420232022Prior TotalPercent
Prime – FICO score 680 and greater$18,412 $17,027 $10,543 $5,782 $3,154 $1,664 $56,581 73.8 %
Near-prime – FICO score 620 to 6793,028 2,830 1,771 974 570 382 9,556 12.5 %
Sub-prime – FICO score less than 6203,717 2,974 1,850 947 581 447 10,515 13.7 %
Retail finance receivables$25,157 $22,831 $14,163 $7,703 $4,305 $2,493 $76,651 100.0 %
Year of OriginationDecember 31, 2025
20252024202320222021PriorTotalPercent
Prime – FICO score 680 and greater$22,850 $15,204 $9,298 $5,350 $2,712 $1,027 $56,440 74.9 %
Near-prime – FICO score 620 to 6793,702 2,456 1,439 908 571 225 9,303 12.3 %
Sub-prime – FICO score less than 6203,847 2,530 1,395 958 614 318 9,661 12.8 %
Retail finance receivables$30,399 $20,191 $12,132 $7,216 $3,897 $1,570 $75,404 100.0 %
GM Financial reviews the ongoing credit quality of retail finance receivables based on customer payment activity. A retail account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date the payment was contractually due. Retail finance receivables are collateralized by vehicle titles and, subject to local laws, GM Financial generally has the right to repossess the vehicle in the event the customer defaults on the payment terms of the contract. The accrual of finance charge income had been suspended on delinquent retail finance receivables with contractual amounts due of $1.1 billion at September 30, 2026 and December 31, 2025. The following tables are consolidated summaries of the delinquency status of the outstanding amortized cost basis of retail finance receivables for each vintage of the portfolio at September 30, 2026 and December 31, 2025, as well as summary totals for September 30, 2025:
Year of OriginationSeptember 30, 2026September 30, 2025
20262025202420232022Prior TotalPercentTotalPercent
0-to-30 days$24,768 $22,080 $13,482 $7,228 $3,975 $2,214 $73,748 96.2 %$73,318 96.7 %
31-to-60 days273 517 467 325 232 194 2,008 2.6 %1,779 2.3 %
Greater-than-60 days99 204 192 136 90 81 803 1.0 %682 0.9 %
Finance receivables more than 30 days delinquent373 721 659 462 322 275 2,811 3.7 %2,461 3.2 %
In repossession15 29 21 14 8 4 92 0.1 %78 0.1 %
Finance receivables more than 30 days delinquent or in repossession388 751 681 475 329 279 2,903 3.8 %2,540 3.3 %
Retail finance receivables$25,157 $22,831 $14,163 $7,703 $4,305 $2,493 $76,651 100.0 %$75,857 100.0 %
Year of OriginationDecember 31, 2025
20252024202320222021PriorTotalPercent
0-to-30 days$29,871 $19,413 $11,524 $6,744 $3,576 $1,395 $72,523 96.2 %
31-to-60 days370 536 419 334 230 122 2,011 2.7 %
Greater-than-60 days140 218 172 129 86 51 795 1.1 %
Finance receivables more than 30 days delinquent510 753 591 463 316 173 2,806 3.7 %
In repossession18 24 17 10 6 2 75 0.1 %
Finance receivables more than 30 days delinquent or in repossession527 777 608 472 321 175 2,881 3.8 %
Retail finance receivables$30,399 $20,191 $12,132 $7,216 $3,897 $1,570 $75,404 100.0 %

Commercial Finance Receivables GM Financial's commercial finance receivables consist of dealer financing, primarily for dealer inventory purchases, and other financing, which includes loans to commercial vehicle upfitters. For dealer financing, proprietary models are used to assign a risk rating to each dealer. GM Financial performs periodic credit reviews of each dealership and adjusts the dealership's risk rating, if necessary. The credit risk associated with other financing is limited due to the structure of the business relationships.
GM Financial's dealer risk model and risk rating categories are as follows:
RatingDescription
IPerforming accounts with strong to acceptable financial metrics with at least satisfactory capacity to meet financial commitments.
IIPerforming accounts experiencing potential weakness in financial metrics and repayment prospects resulting in increased monitoring.
IIINon-Performing accounts with inadequate paying capacity for current obligations and that have the distinct possibility of creating a loss if deficiencies are not corrected.
IVNon-Performing accounts with inadequate paying capacity for current obligations and inherent weaknesses that make collection or liquidation in full highly questionable or improbable.

Dealers with III and IV risk ratings are subject to additional monitoring and restrictions on funding, including suspension of lines of credit and liquidation of assets. The following tables summarize the dealer finance receivables portfolio by dealer risk rating at September 30, 2026 and December 31, 2025:
Year of Origination(a)September 30, 2026
Dealer Risk RatingRevolving20262025202420232022PriorTotalPercent
I$14,057 $349 $261 $116 $85 $248 $209 $15,325 89.0 %
II1,194 21 7 64 22 5 24 1,338 7.8 %
III488 13 3 38 1 14 6 562 3.3 %
IV— — — — — — — — — %
Balance at end of period$15,739 $383 $271 $218 $109 $267 $239 $17,225 100.0 %
__________
(a)Floorplan advances comprise 99.2% of the total revolving balance. Dealer term loans are presented by year of origination.
Year of Origination(a)December 31, 2025
Dealer Risk RatingRevolving20252024202320222021PriorTotalPercent
I$13,421 $337 $191 $121 $298 $160 $147 $14,674 89.6 %
II985 10 33 25 7 35 2 1,096 6.7 %
III507 5 48 3 14 14 12 603 3.7 %
IV— — — — — — — — — %
Balance at end of period$14,913 $352 $271 $149 $319 $209 $161 $16,374 100.0 %
__________
(a)Floorplan advances comprise 99.1% of the total revolving balance. Dealer term loans are presented by year of origination.

Commercial finance receivables on nonaccrual status were insignificant and none at September 30, 2026 and December 31, 2025.

Transfers of Finance Receivables GM Financial has continuing involvement with finance receivables that were transferred in 2025, primarily in its role as servicer. The outstanding balance of the previously transferred finance receivables subject to continuing involvement was $1.2 billion at September 30, 2026.
Transactions with GM Financial The following tables show transactions between our Automotive operations and GM Financial. These amounts are presented in GM Financial's condensed consolidated balance sheets and statements of income.
September 30, 2026December 31, 2025
Condensed Consolidated Balance Sheets(a)
Commercial finance receivables due from GM consolidated dealers$349 $395 
Subvention receivable from GM(b)$501 $452 
Commercial loan funding payable to GM$118 $94 
Three Months EndedNine Months Ended
September 30, 2026September 30, 2025September 30, 2026September 30, 2025
Condensed Consolidated Statements of Income
Interest subvention earned on finance receivables$298 $344 $905 $1,075 
Leased vehicle subvention earned$469 $461 $1,436 $1,313 
__________
(a)All balance sheet amounts are eliminated upon consolidation.
(b)Our Automotive operations made cash payments to GM Financial for subvention of $796 million and $856 million in the three months ended September 30, 2026 and 2025 and $2.1 billion and $2.5 billion in the nine months ended September 30, 2026 and 2025.

GM Financial's Board of Directors declared and paid dividends of $250 million and $350 million on its common stock in the three months ended September 30, 2026 and 2025 and $1.2 billion and $1.1 billion in the nine months ended September 30, 2026 and 2025.