Collateral available for netting

[Table of Contents](#i1f1d4643819f4c4aa82d0bc4fb2f7f45_7)GENERAL MOTORS COMPANY AND SUBSIDIARIESNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS —— (Continued)GM Financial The following table presents the gross fair value amounts of GM Financial's derivative financial instruments and the associated notional amounts:

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|  | Fair Value Level |  | June 30, 2022 |  | December 31, 2021 |
|  |  |  | Notional |  | Fair Value of Assets |  | Fair Value of Liabilities |  | Notional |  | Fair Value of Assets |  | Fair Value of Liabilities |
| Derivatives designated as hedges(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Fair value hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate swaps | 2 |  | $ | 21,600  |  |  | $ | 2  |  |  | $ | 536  |  |  | $ | 15,058  |  |  | $ | 74  |  |  | $ | 88  |  |
| Foreign currency swaps | 2 |  | —  |  |  | —  |  |  | —  |  |  | 682  |  |  | —  |  |  | 59  |  |
| Cash flow hedges |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate swaps | 2 |  | 806  |  |  | 25  |  |  | —  |  |  | 611  |  |  | 12  |  |  | 4  |  |
| Foreign currency swaps | 2 |  | 7,444  |  |  | 7  |  |  | 649  |  |  | 7,419  |  |  | 85  |  |  | 201  |  |
| Derivatives not designated as hedges(a) |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Interest rate contracts | 2 |  | 109,673  |  |  | 1,526  |  |  | 1,183  |  |  | 110,053  |  |  | 846  |  |  | 339  |  |
| Foreign currency contracts | 2 |  | —  |  |  | —  |  |  | —  |  |  | 148  |  |  | —  |  |  | —  |  |
| Total derivative financial instruments(b) |  |  | $ | 139,523  |  |  | $ | 1,560  |  |  | $ | 2,368  |  |  | $ | 133,971  |  |  | $ | 1,017  |  |  | $ | 691  |  |

\_\_\_\_\_\_\_\_\_\_(a)The gains/losses included in our condensed consolidated income statements and statements of comprehensive income for the three and six months ended June 30, 2022 and 2021 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)GM Financial held $272 million and $376 million of collateral from counterparties available for netting against GM Financial's asset positions, and posted $864 million and an insignificant amount of collateral to counterparties available for netting against GM Financial's liability positions at June 30, 2022 and December 31, 2021.  
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.  
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:

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|  | June 30, 2022 |  | December 31, 2021 |
|  | Carrying Amount of Hedged Items |  | Cumulative Amount of Fair Value Hedging Adjustments(a) |  | Carrying Amount of Hedged Items |  | Cumulative Amount of Fair Value Hedging Adjustments(a) |
| Short-term unsecured debt | $ | 3,042  |  |  | $ | 8  |  |  | $ | 1,338  |  |  | $ | (1) |  |
| Long-term unsecured debt | 25,604  |  |  | 446  |  |  | 23,626  |  |  | (225) |  |
| GM Financial unsecured debt | $ | 28,646  |  |  | $ | 454  |  |  | $ | 24,964  |  |  | $ | (226) |  |

\_\_\_\_\_\_\_\_\_\_(a)Includes an insignificant amount and $246 million of unamortized gains remaining on hedged items for which hedge accounting has been discontinued at June 30, 2022 and December 31, 2021.  
  
  
  
  
  
  
  
  
  
  
  
  
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