Restricted cash included in Other assets

[Table of Contents](#i1f1d4643819f4c4aa82d0bc4fb2f7f45_7)GENERAL MOTORS COMPANY AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS —— (Continued)The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheets to the total shown in the condensed consolidated statement of cash flows:

|  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |
|  | June 30, 2022 |
| Cash and cash equivalents | $ | 16,710  |  |
| Restricted cash included in Other current assets | 2,509  |  |
| Restricted cash included in Other assets | 496  |  |
| Total | $ | 19,715  |  |

Note 5. GM Financial Receivables and Transactions 

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | June 30, 2022 |  | December 31, 2021 |
|  | Retail |  | Commercial(a) |  | Total |  | Retail |  | Commercial(a) |  | Total |
|  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |
| GM Financial receivables, net of fees | $ | 61,208  |  |  | $ | 7,526  |  |  | $ | 68,733  |  |  | $ | 58,093  |  |  | $ | 6,609  |  |  | $ | 64,702  |  |
| Less: allowance for loan losses | (1,987) |  |  | (40) |  |  | (2,027) |  |  | (1,839) |  |  | (47) |  |  | (1,886) |  |
| GM Financial receivables, net | $ | 59,220  |  |  | $ | 7,486  |  |  | $ | 66,706  |  |  | $ | 56,254  |  |  | $ | 6,562  |  |  | $ | 62,816  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |
| Fair value of GM Financial receivables utilizing Level 2 inputs |  |  |  |  | $ | 7,486  |  |  |  |  |  |  | $ | 6,562  |  |
| Fair value of GM Financial receivables utilizing Level 3 inputs |  |  |  |  | $ | 58,528  |  |  |  |  |  |  | $ | 57,613  |  |

\_\_\_\_\_\_\_\_\_\_(a)Net of dealer cash management balances of $1.3 billion and $1.0 billion at June 30, 2022 and December 31, 2021. 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 Ended |  | Six Months Ended |
|  | June 30, 2022 |  | June 30, 2021 |  | June 30, 2022 |  | June 30, 2021 |
| Allowance for loan losses at beginning of period | $ | 1,928  |  |  | $ | 1,835  |  |  | $ | 1,886  |  |  | $ | 1,978  |  |
|  |  |  |  |  |  |  |  |
| Provision for loan losses | 198  |  |  | 59  |  |  | 320  |  |  | 33  |  |
| Charge-offs | (247) |  |  | (204) |  |  | (521) |  |  | (457) |  |
| Recoveries | 161  |  |  | 146  |  |  | 339  |  |  | 296  |  |
| Effect of foreign currency | (14) |  |  | 14  |  |  | 4  |  |  | —  |  |
| Allowance for loan losses at end of period | $ | 2,027  |  |  | $ | 1,850  |  |  | $ | 2,027  |  |  | $ | 1,850  |  |

  
Retail Finance Receivables GM Financial's retail finance receivable 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 June 30, 2022 and December 31, 2021:  


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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Year of Origination |  | June 30, 2022 |
|  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior  |  | Total |  | Percent |
| Prime – FICO score 680 and greater | $ | 12,052  |  |  | $ | 16,089  |  |  | $ | 9,915  |  |  | $ | 3,048  |  |  | $ | 1,574  |  |  | $ | 464  |  |  | $ | 43,141  |  |  | 70.5  | % |
| Near-prime – FICO score 620 to 679 | 1,704  |  |  | 3,183  |  |  | 1,883  |  |  | 932  |  |  | 459  |  |  | 204  |  |  | 8,366  |  |  | 13.7  | % |
| Sub-prime – FICO score less than 620 | 1,826  |  |  | 3,323  |  |  | 1,986  |  |  | 1,356  |  |  | 699  |  |  | 512  |  |  | 9,701  |  |  | 15.8  | % |
| Retail finance receivables, net of fees | $ | 15,582  |  |  | $ | 22,595  |  |  | $ | 13,784  |  |  | $ | 5,337  |  |  | $ | 2,732  |  |  | $ | 1,179  |  |  | $ | 61,208  |  |  | 100.0  | % |

  
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