General Motors Financial Company, Inc. 10-Q Quarterly Report April 2018

(“GM Financial” or the “Company”) announced net income of $369 million for the quarter ended March 31, 2018, compared to $202 million for the quarter ended March 31, 2017.

Retail loan originations were $5.1 billion for the quarter ended March 31, 2018, compared to $4.4 billion for the quarter ended December 31, 2017, and $5.6 billion for the quarter ended March 31, 2017. The outstanding balance of retail finance receivables was $34.3 billion at March 31, 2018.

Operating lease originations were $5.7 billion for the quarter ended March 31, 2018, compared to $5.8 billion for the quarter ended December 31, 2017, and $6.3 billion for the quarter ended March 31, 2017. Leased vehicles, net was $43.4 billion at March 31, 2018.

The outstanding balance of commercial finance receivables was $10.4 billion at March 31, 2018, compared to $10.3 billion at December 31, 2017 and $8.5 billion at March 31, 2017.

Retail finance receivables 31-60 days delinquent were 3.7% of the portfolio at March 31, 2018 and 3.4% at March 31, 2017. Accounts more than 60 days delinquent were 1.7% of the portfolio at March 31, 2018 and 1.4% at March 31, 2017.

Annualized net charge-offs were 2.1% of average retail finance receivables for the quarter ended March 31, 2018 and 2.3% for the quarter ended March 31, 2017.

The Company had total available liquidity of $19.4 billion at March 31, 2018, consisting of $4.2 billion of cash and cash equivalents, $14.1 billion of borrowing capacity on unpledged eligible assets, $0.1 billion of borrowing capacity on committed unsecured lines of credit and $1.0 billion of borrowing capacity on the Junior Subordinated Revolving Credit Facility from GM.

Earnings resulting from the Company's equity investment in SAIC-GMAC, a joint venture that conducts auto finance operations in China, were $52 million for the quarter ended March 31, 2018 compared to $47 million for the quarter ended March 31, 2017.

The following information was filed by General Motors Financial Company, Inc. on Thursday, April 26, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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General Motors Financial Company, Inc. provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

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CIK: 804269
Form Type: 10-Q Quarterly Report
Accession Number: 0000804269-18-000046
Submitted to the SEC: Thu Apr 26 2018 4:10:28 PM EST
Accepted by the SEC: Thu Apr 26 2018
Period: Saturday, March 31, 2018
Industry: Finance Services

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General Motors Financial Company, Inc. (804269) SEC Filing 10-Q Quarterly report for the period ending Saturday, March 31, 2018

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