# EDGAR Filing Document

**Accession Number:** 0000804269
**File Stem:** 0000804269-26-000012
**Filing Date:** 2026-4
**Character Count:** 125441
**Document Hash:** 1d4b1ae33d56be2410d30fbee706ad92
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000804269-26-000012.hdr.sgml**: 20260428

**ACCESSION NUMBER**: 0000804269-26-000012

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 75

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260428

**DATE AS OF CHANGE**: 20260428

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** General Motors Financial Company, Inc.
- **CENTRAL INDEX KEY:** 0000804269
- **STANDARD INDUSTRIAL CLASSIFICATION:** FINANCE SERVICES [6199]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 752291093
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-10667
- **FILM NUMBER:** 26909114

**BUSINESS ADDRESS:**
- **STREET 1:** 801 CHERRY STREET
- **STREET 2:** SUITE 3500
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76102
- **BUSINESS PHONE:** 8173027000

**MAIL ADDRESS:**
- **STREET 1:** 801 CHERRY ST
- **STREET 2:** SUITE 3500
- **CITY:** FORT WORTH
- **STATE:** TX
- **ZIP:** 76102

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AMERICREDIT CORP
- **DATE OF NAME CHANGE:** 19930930

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** URCARCO INC
- **DATE OF NAME CHANGE:** 19920703

?xml version='1.0' encoding='ASCII'? acf-20260331

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

______________________________________________

**FORM 10-Q** 

**(Mark One)**

☒ **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the quarterly period ended March 31, 2026** 

**OR**

☐ **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

**For the transition period from ________________ to ________________**

**Commission file number 1-10667** 

______________________________________________

**General Motors Financial Company, Inc.** 

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| **Texas** | **75-2291093** |
| **(State or other jurisdiction of<br>incorporation or organization)** | **(I.R.S. Employer<br>Identification No.)** |

---

**801 Cherry Street, Suite 3500, Fort Worth, Texas 76102** 

**(Address of principal executive offices, including Zip Code)**

**(817) 302-7000** 

**(Registrant's telephone number, including area code)**

**Not applicable**

**(Former name, former address and former fiscal year, if changed since last report)**

**Securities registered pursuant to Section 12(b) of the Act:**

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which registered** |
| **6.150% Senior Notes due 2035** | **GM/35B** | **New York Stock Exchange** |

---

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒&nbsp;&nbsp;&nbsp;&nbsp;No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒&nbsp;&nbsp;&nbsp;&nbsp;No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer," "smaller reporting company," and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☐ Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

As of April 27, 2026, there were 5,050,000 shares of the registrant's common stock, par value $0.0001 per share, outstanding. All shares of the registrant's common stock are owned by General Motors Holdings LLC, a wholly-owned subsidiary of General Motors Company.

**The registrant is a wholly-owned subsidiary of General Motors Company and meets the conditions set forth in General Instructions H(1)(a) and (b) of Form 10-Q and is therefore filing this Quarterly Report on Form 10-Q with a reduced disclosure format as permitted by Instruction H(2).**

------

**INDEX**

---

| | | |
|:---|:---|:---|
| | | **Page** |
| **PART I** | **PART I** | **PART I** |
| Item 1. | Condensed Consolidated Financial Statements | [1](#i79bc4ce500a44a76b6decee91cf69e46_13) |
|  | Condensed Consolidated Balance Sheets (Unaudited) | [1](#i79bc4ce500a44a76b6decee91cf69e46_16) |
|  | Condensed Consolidated Statements of Income (Unaudited) | [2](#i79bc4ce500a44a76b6decee91cf69e46_19) |
|  | Condensed Consolidated Statements of Comprehensive Income (Unaudited) | [2](#i79bc4ce500a44a76b6decee91cf69e46_19) |
|  | Condensed Consolidated Statements of Shareholders' Equity (Unaudited) | [3](#i79bc4ce500a44a76b6decee91cf69e46_22) |
|  | Condensed Consolidated Statements of Cash Flows (Unaudited) | [4](#i79bc4ce500a44a76b6decee91cf69e46_25) |
|  | Notes to Condensed Consolidated Financial Statements | [5](#i79bc4ce500a44a76b6decee91cf69e46_28) |
|  | &nbsp;&nbsp;&nbsp;Note 1. Business and Basis of Presentation | [5](#i79bc4ce500a44a76b6decee91cf69e46_31) |
|  | &nbsp;&nbsp;&nbsp;Note 2. Marketable and Other Securities | [5](#i79bc4ce500a44a76b6decee91cf69e46_34) |
|  | &nbsp;&nbsp;&nbsp;Note 3. Related Party Transactions | [6](#i79bc4ce500a44a76b6decee91cf69e46_37) |
|  | &nbsp;&nbsp;&nbsp;Note 4. Finance Receivables | [7](#i79bc4ce500a44a76b6decee91cf69e46_40) |
|  | &nbsp;&nbsp;&nbsp;Note 5. Leased Vehicles | [10](#i79bc4ce500a44a76b6decee91cf69e46_43) |
|  | &nbsp;&nbsp;&nbsp;Note 6. Equity in Net Assets of Nonconsolidated Affiliates | [11](#i79bc4ce500a44a76b6decee91cf69e46_46) |
|  | &nbsp;&nbsp;&nbsp;Note 7. Debt | [11](#i79bc4ce500a44a76b6decee91cf69e46_49) |
|  | &nbsp;&nbsp;&nbsp;Note 8. Variable Interest Entities | [12](#i79bc4ce500a44a76b6decee91cf69e46_52) |
|  | &nbsp;&nbsp;&nbsp;Note 9. Derivative Financial Instruments and Hedging Activities | [12](#i79bc4ce500a44a76b6decee91cf69e46_55) |
|  | &nbsp;&nbsp;&nbsp;Note 10. Commitments and Contingencies | [14](#i79bc4ce500a44a76b6decee91cf69e46_58) |
|  | &nbsp;&nbsp;&nbsp;Note 11. Shareholders' Equity | [15](#i79bc4ce500a44a76b6decee91cf69e46_61) |
|  | &nbsp;&nbsp;&nbsp;Note 12. Income Taxes | [15](#i79bc4ce500a44a76b6decee91cf69e46_64) |
|  | &nbsp;&nbsp;&nbsp;Note 13. Segment Reporting | [16](#i79bc4ce500a44a76b6decee91cf69e46_67) |
|  | &nbsp;&nbsp;&nbsp;Note 14. Regulatory Capital and Other Regulatory Matters | [17](#i79bc4ce500a44a76b6decee91cf69e46_70) |
| Item 2. | Management's Discussion and Analysis of Financial Condition and Results of Operations | [18](#i79bc4ce500a44a76b6decee91cf69e46_73) |
| Item 3. | Quantitative and Qualitative Disclosures About Market Risk | [27](#i79bc4ce500a44a76b6decee91cf69e46_97) |
| Item 4. | Controls and Procedures | [27](#i79bc4ce500a44a76b6decee91cf69e46_100) |
| **PART II** | **PART II** | **PART II** |
| Item 1. | Legal Proceedings | [27](#i79bc4ce500a44a76b6decee91cf69e46_106) |
| Item 1A. | Risk Factors | [28](#i79bc4ce500a44a76b6decee91cf69e46_109) |
| Item 6. | Exhibits | [28](#i79bc4ce500a44a76b6decee91cf69e46_112) |
|  | Signature | [29](#i79bc4ce500a44a76b6decee91cf69e46_115) |

---

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**PART I**

**Item 1. Condensed Consolidated Financial Statements**

**CONDENSED CONSOLIDATED BALANCE SHEETS**

**(In millions, except per share amounts) (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **March 31, 2026** | **December 31, 2025** |
| **ASSETS** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents (<u>[Note 2](#i79bc4ce500a44a76b6decee91cf69e46_34)</u>) | $5130 | $5826 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finance receivables, net of allowance for loan losses of $2,723 and $2,725<br>(<u>[Note 4](#i79bc4ce500a44a76b6decee91cf69e46_40)</u>; <u>[Note 8](#i79bc4ce500a44a76b6decee91cf69e46_52)</u>) | 87855 | 90045 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leased vehicles, net (<u>[Note 5](#i79bc4ce500a44a76b6decee91cf69e46_43)</u>; <u>[Note 8](#i79bc4ce500a44a76b6decee91cf69e46_52)</u>) | 33344 | 33686 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill and intangible assets | 1179 | 1177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Equity in net assets of nonconsolidated affiliates (<u>[Note 6](#i79bc4ce500a44a76b6decee91cf69e46_46)</u>) | 1144 | 1117 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Related party receivables (<u>[Note 3](#i79bc4ce500a44a76b6decee91cf69e46_37)</u>) | 557 | 515 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets (<u>[Note 2](#i79bc4ce500a44a76b6decee91cf69e46_34)</u>; <u>[Note 8](#i79bc4ce500a44a76b6decee91cf69e46_52)</u>) | 8869 | 8110 |
| **Total assets** | $138078 | $140477 |
| **LIABILITIES AND SHAREHOLDERS' EQUITY** |  |  |
| **Liabilities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Secured debt (<u>[Note 7](#i79bc4ce500a44a76b6decee91cf69e46_49)</u>; <u>[Note 8](#i79bc4ce500a44a76b6decee91cf69e46_52)</u>) | $46823 | $46904 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unsecured debt (<u>[Note 7](#i79bc4ce500a44a76b6decee91cf69e46_49)</u>) | 65005 | 67127 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income | 2395 | 2494 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Related party payables (<u>[Note 3](#i79bc4ce500a44a76b6decee91cf69e46_37)</u>) | 119 | 136 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 8050 | 8004 |
| **Total liabilities** | 122391 | 124664 |
| Commitments and contingencies (<u>[Note 10](#i79bc4ce500a44a76b6decee91cf69e46_58)</u>) |  |  |
| **Shareholders' equity** (<u>[Note 11](#i79bc4ce500a44a76b6decee91cf69e46_61)</u>) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Common stock, $0.0001 par value per share |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Preferred stock, $0.01 par value per share |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Additional paid-in capital | 8852 | 8845 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accumulated other comprehensive income (loss) | (1399) | (1402) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Retained earnings | 8233 | 8369 |
| **Total shareholders' equity** | 15687 | 15813 |
| **Total liabilities and shareholders' equity** | $138078 | $140477 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

Amounts may not add due to rounding.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

 **CONDENSED CONSOLIDATED STATEMENTS OF INCOME** 

**(In millions) (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| **Revenue** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Finance charge income | $1966 | $2025 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leased vehicle income | 1985 | 1902 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income | 326 | 236 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue | 4276 | 4164 |
| **Costs and expenses** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating expenses | 584 | 513 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Leased vehicle expenses | 1213 | 1054 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for loan losses (<u>[Note 4](#i79bc4ce500a44a76b6decee91cf69e46_40)</u>) | 267 | 328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 1538 | 1597 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total costs and expenses | 3602 | 3491 |
| Equity income (loss) (<u>[Note 6](#i79bc4ce500a44a76b6decee91cf69e46_46)</u>) | 14 | 12 |
| Income (loss) before income taxes | 688 | 685 |
| Income tax expense (benefit) (<u>[Note 12](#i79bc4ce500a44a76b6decee91cf69e46_64)</u>) | 174 | 186 |
| **Net income (loss)** | 514 | 499 |
| Less: cumulative dividends on preferred stock | 30 | 30 |
| **Net income (loss) attributable to common shareholder** | $485 | $470 |

---

**CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME**

**(In millions) (Unaudited)**

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| **Net income (loss)** | $514 | $499 |
| **Other comprehensive income (loss), net of tax** (<u>[Note 11](#i79bc4ce500a44a76b6decee91cf69e46_61)</u>) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Unrealized gain (loss) on hedges, net of income tax (expense) benefit of $5, $30 | (18) | (91) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency translation adjustment | 21 | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income (loss), net of tax | 3 | (28) |
| **Comprehensive income (loss)** | $517 | $471 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

Amounts may not add due to rounding.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY** 

**(In millions) (Unaudited)**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **Common Stock** | **Preferred Stock** | **Additional Paid-in Capital** | **Accumulated Other Comprehensive Income (Loss)** | **Retained Earnings** | **Total <br>Shareholders'<br>Equity** |
| **Balance at January 1, 2025** | $— | $— | $8814 | $(1531) | $7909 | $15193 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) |  |  |  |  | 499 | 499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income (loss) |  |  |  | (28) |  | (28) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  | 8 |  |  | 8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends paid (<u>[Note 11](#i79bc4ce500a44a76b6decee91cf69e46_61)</u>) |  |  |  |  | (350) | (350) |
| **Balance at March 31, 2025** | $— | $— | $8822 | $(1559) | $8058 | $15321 |
| **Balance at January 1, 2026** | $— | $— | $8845 | $(1402) | $8369 | $15813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) |  |  |  |  | 514 | 514 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other comprehensive income (loss) |  |  |  | 3 |  | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation |  |  | 7 |  |  | 7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends paid (<u>[Note 11](#i79bc4ce500a44a76b6decee91cf69e46_61)</u>) |  |  |  |  | (650) | (650) |
| **Balance at March 31, 2026** | $— | $— | $8852 | $(1399) | $8233 | $15687 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

Amounts may not add due to rounding.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS**

**(In millions) (Unaudited)** 

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| **Cash flows from operating activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income (loss) | $514 | $499 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 1415 | 1298 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accretion and amortization of loan and leasing fees | (389) | (404) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Undistributed earnings of nonconsolidated affiliates, net | (14) | (12) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Provision for loan losses | 267 | 328 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes | 107 | 100 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Gain on termination of leased vehicles | (130) | (156) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other operating activities | 2 | (115) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Changes in assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets | (127) | 369 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 28 | (79) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Related party payables | (40) | 50 |
| **Net cash provided by (used in) operating activities** | 1633 | 1877 |
| **Cash flows from investing activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases and funding of finance receivables | (8402) | (9668) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Principal collections and recoveries on finance receivables | 8808 | 9097 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in floorplan and other short-duration receivables | 1737 | 2545 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Purchases of leased vehicles | (3274) | (4212) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from termination of leased vehicles | 2520 | 2529 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other investing activities | (32) | (4) |
| **Net cash provided by (used in) investing activities** | 1357 | 286 |
| **Cash flows from financing activities** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net change in debt (original maturities of three months or less) | 94 | 188 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowings and issuances of secured debt | 4884 | 8261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments on secured debt | (4928) | (8998) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Borrowings and issuances of unsecured debt | 3492 | 8635 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payments on unsecured debt | (5641) | (6177) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Debt issuance costs | (29) | (55) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends paid | (709) | (409) |
| **Net cash provided by (used in) financing activities** | (2837) | 1444 |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 152 | 3608 |
| Effect of foreign exchange rate changes on cash, cash equivalents and restricted cash | 11 | 24 |
| Cash, cash equivalents and restricted cash at beginning of period | 9043 | 8081 |
| **Cash, cash equivalents and restricted cash at end of period** | $9206 | $11714 |

---

The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the condensed consolidated balance sheet:

---

| | |
|:---|:---|
| | **March 31, 2026** |
| Cash and cash equivalents | $5130 |
| Restricted cash included in other assets | 4076 |
| Total | $9206 |

---

The accompanying notes are an integral part of these condensed consolidated financial statements.

Amounts may not add due to rounding.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS**

**Note 1. Business and Basis of Presentation** 

General Motors Financial Company, Inc. (sometimes referred to as we, us, our, the Company, or GM Financial), the wholly-owned captive finance subsidiary of General Motors Company (GM), is a global provider of automobile finance solutions. We provide retail loan and lease financing across the credit spectrum to support vehicle sales. Additionally, we offer commercial lending products to dealers, including floorplan financing, which is lending to finance new and used vehicle inventory, and dealer loans, which are loans to finance improvements to dealership facilities, to provide working capital, or to purchase and/or finance dealership real estate. We also offer and finance vehicle-related service contracts and other products and services.

**Basis of Presentation** The consolidated financial statements include our accounts and the accounts of our consolidated subsidiaries, including certain special purpose entities (SPEs) utilized in secured financing transactions, which are considered variable interest entities (VIEs). All intercompany transactions and accounts have been eliminated in consolidation.

The consolidated financial statements, including the notes thereto, are condensed and do not include all disclosures required by generally accepted accounting principles (GAAP) in the U.S. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as filed with the Securities and Exchange Commission on January 27, 2026 (2025 Form 10-K).

The condensed consolidated financial statements at March 31, 2026, and for the three months ended March 31, 2026 and 2025, are unaudited and, in management's opinion, include all adjustments, which consist of normal recurring adjustments and transactions or events discretely impacting the interim periods, considered necessary by management to fairly state our results of operations. The results for interim periods are not necessarily indicative of results for a full year. The condensed consolidated balance sheet at December 31, 2025 was derived from audited annual financial statements. Except as otherwise specified, dollar amounts presented within tables are stated in millions. Certain columns and rows may not add due to rounding.

**Note 2. Marketable and Other Securities** 

The following table summarizes the fair value of cash equivalents and marketable debt securities, which approximates cost:

---

| | | | |
|:---|:---|:---|:---|
| | **Fair Value Level** | **March 31, 2026** | **December 31, 2025** |
| **Cash and cash equivalents** | | | |
| Cash and time deposits | Cash and time deposits | $3147 | $3025 |
| Available-for-sale debt securities |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. government and agencies | 2 | 432 | 430 |
| &nbsp;&nbsp;&nbsp;&nbsp;Sovereign debt | 2 | 87 | 99 |
| Total available-for-sale debt securities – cash equivalents | Total available-for-sale debt securities – cash equivalents | 519 | 530 |
| Money market funds | 1 | 1464 | 2272 |
| Total cash and cash equivalents | Total cash and cash equivalents | $5130 | $5826 |
| **Marketable debt securities**<sup>(a)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. government and agencies | 2 | $57 | $39 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 2 | 2 |  |
| Total available-for-sale debt securities – marketable securities | Total available-for-sale debt securities – marketable securities | $59 | $39 |
| **Restricted cash**<sup>(a)</sup> |  |  |  |
| Cash and cash equivalents | Cash and cash equivalents | $253 | $235 |
| Money market funds | 1 | 3822 | 2981 |
| Total restricted cash | Total restricted cash | $4076 | $3217 |
| **Available-for-sale debt securities included above with contractual maturities** | **Available-for-sale debt securities included above with contractual maturities** |  |  |
| Due in one year or less | Due in one year or less | $575 |  |
| Due between one and five years | Due between one and five years | 3 |  |
| Total available-for-sale debt securities with contractual maturities | Total available-for-sale debt securities with contractual maturities | $579 |  |

---

________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Included in other assets.*

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)**

Net unrealized gains and losses on available-for-sale debt securities were insignificant and none in the three months ended March 31, 2026 and 2025. Cumulative unrealized losses on available-for-sale debt securities were insignificant at March 31, 2026 and December 31, 2025. At March 31, 2026, we had no intention to sell the available-for-sale debt securities, and it was unlikely that we would be required to sell the available-for-sale debt securities before recovery of their amortized cost basis. No allowance for credit losses was recorded on available-for-sale debt securities in an unrealized loss position at March 31, 2026 and December 31, 2025.

**Note 3. Related Party Transactions**

We offer loan and lease finance products through GM-franchised dealers to customers purchasing new vehicles manufactured by GM and certain used vehicles and make commercial loans directly to GM-franchised dealers and their affiliates. Certain of our dealer customers are consolidated by GM, and receivables from those customers are included in finance receivables, net.

Under subvention programs, GM makes cash payments to us for offering incentivized rates and structures on retail loan and lease finance products. In addition, GM makes cash payments to us to cover interest payments on certain commercial loans we make to GM-franchised dealers. We received subvention payments from GM of $644 million and $704 million for the three months ended March 31, 2026 and 2025. Subvention due from GM is recorded as a related party receivable.

Amounts due to GM for commercial finance receivables originated but not yet funded are recorded as a related party payable.

We are included in GM's consolidated U.S. federal income tax returns and certain U.S. state returns, and we are obligated to pay GM for our share of the related tax liabilities. During the three months ended March 31, 2026, we made payments of $60 million to GM for state and federal income taxes related to tax years 2024 and 2025. During the three months ended March 31, 2025, no payments were made to GM for state and federal income taxes. Amounts due from (owed to) GM for income taxes are recorded as a related party receivable (payable).

The following tables present balance sheet and income statement data for related party transactions:

---

| | | |
|:---|:---|:---|
| **Balance Sheet Data** | **March 31, 2026** | **December 31, 2025** |
| Commercial finance receivables due from dealers consolidated by GM | $379 | $395 |
| Subvention receivable from GM | $449 | $452 |
| Commercial loan funding payable to GM | $109 | $94 |
| Taxes receivable from (payable to) GM | $9 | $(33) |

---

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| **Income Statement Data** | **2026** | **2025** |
| Interest subvention earned on retail finance receivables<sup>(a)</sup> | $288 | $344 |
| Interest subvention earned on commercial finance receivables<sup>(a)</sup> | $22 | $23 |
| Leased vehicle subvention earned<sup>(b)</sup> | $485 | $415 |

---

_________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Included in finance charge income.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b) Included as a reduction to leased vehicle expenses.*

Under the support agreement with GM (the Support Agreement), if our earning assets leverage ratio at the end of any calendar quarter exceeds the applicable threshold set in the Support Agreement, we may require GM to provide funding sufficient to bring our earning assets leverage ratio within the applicable threshold. In determining our earning assets leverage ratio (net earning assets divided by adjusted equity) under the Support Agreement, net earning assets means our finance receivables, net, plus leased vehicles, net, and adjusted equity means our equity, net of goodwill and inclusive of outstanding junior subordinated debt, as each may be adjusted for derivative accounting.

Additionally, the Support Agreement provides that GM will own all of our outstanding voting shares as long as we have any unsecured debt securities outstanding. GM also agrees to certain provisions in the Support Agreement intended to ensure we maintain adequate access to liquidity. Pursuant to these provisions, GM provides us with a $1.0 billion junior subordinated unsecured intercompany revolving credit facility, and GM will use commercially reasonable efforts to ensure that we will continue to be designated as a subsidiary borrower under GM's corporate revolving credit facilities. We have access, subject to

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)**

available capacity, to $14.1 billion of GM's unsecured revolving credit facilities consisting of a five-year, $10.0 billion facility (the five-year facility) and a three-year, $4.1 billion facility (the three-year facility). We also have exclusive access to GM's $2.0 billion 364-Day Revolving Credit Facility (GM Revolving 364-Day Credit Facility). We had no borrowings outstanding under any of the GM revolving credit facilities at March 31, 2026 or December 31, 2025. In March 2026, GM renewed the Revolving 364-Day Credit Facility, which now matures on March 22, 2027.

**Note 4. Finance Receivables**

---

| | | |
|:---|:---|:---|
| | **March 31, 2026** | **December 31, 2025** |
| **Retail finance receivables** | | |
| Retail finance receivables<sup>(a)</sup> | $74893 | $75404 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: allowance for loan losses | (2664) | (2656) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total retail finance receivables, net | 72229 | 72748 |
| **Commercial finance receivables** |  |  |
| Commercial finance receivables<sup>(a)(b)</sup> | 15684 | 17365 |
| &nbsp;&nbsp;&nbsp;&nbsp;Less: allowance for loan losses | (59) | (68) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total commercial finance receivables, net | 15625 | 17297 |
| Total finance receivables, net | $87855 | $90045 |
| Fair value utilizing Level 2 inputs | $15625 | $17297 |
| Fair value utilizing Level 3 inputs | $73269 | $74409 |

---

________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)&nbsp;&nbsp;&nbsp;&nbsp;Net of unearned income, unamortized premiums and discounts, and deferred fees and costs.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b)&nbsp;&nbsp;&nbsp;&nbsp;Includes dealer financing of $15.2 billion and $16.8 billion, and other financing of $462 million and $596 million at March 31, 2026 and December 31, 2025. Commercial finance receivables are presented net of dealer cash management balances of $3.4 billion at both March 31, 2026 and December 31, 2025.*

**Rollforward of Allowance for Retail Loan Losses** A summary of the activity in the allowance for retail loan losses is as follows:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Allowance for retail loan losses beginning balance | $2656 | $2400 |
| Provision for loan losses | 276 | 299 |
| Charge-offs | (541) | (479) |
| Recoveries | 269 | 250 |
| Foreign currency translation | 3 | 9 |
| Allowance for retail loan losses ending balance | $2664 | $2479 |

---

The allowance for retail loan losses as a percentage of retail finance receivables was 3.6% and 3.5% at March 31, 2026 and December 31, 2025. The allowance ratio is based on factors including portfolio credit quality, expectations for recovery rates and economic outlook.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)**

**Retail Credit Quality** Our 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 amortized cost basis of the retail finance receivables by FICO score or its equivalent, determined at origination, for each vintage of the portfolio at March 31, 2026 and December 31, 2025:

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **March 31, 2026** | **March 31, 2026** |
| | **2026** | **2025** | **2024** | **2023** | **2022** | **Prior** | **Total** | **Percent** |
| Prime - FICO Score 680 and greater | $5711 | $20875 | $13611 | $8028 | $4568 | $2939 | $55732 | 74.4% |
| Near-prime - FICO Score 620 to 679 | 1026 | 3382 | 2201 | 1269 | 790 | 635 | 9303 | 12.4 |
| Sub-prime - FICO Score less than 620 | 1300 | 3534 | 2280 | 1222 | 794 | 728 | 9858 | 13.2 |
| Retail finance receivables | $8037 | $27790 | $18092 | $10519 | $6152 | $4303 | $74893 | 100.0% |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **December 31, 2025** | **December 31, 2025** |
| | **2025** | **2024** | **2023** | **2022** | **2021** | **Prior** | **Total** | **Percent** |
| Prime - FICO Score 680 and greater | $22850 | $15204 | $9298 | $5350 | $2712 | $1027 | $56440 | 74.9% |
| Near-prime - FICO Score 620 to 679 | 3702 | 2456 | 1439 | 908 | 571 | 225 | 9303 | 12.3 |
| Sub-prime - FICO Score less than 620 | 3847 | 2530 | 1395 | 958 | 614 | 318 | 9661 | 12.8 |
| Retail finance receivables | $30399 | $20191 | $12132 | $7216 | $3897 | $1570 | $75404 | 100.0% |

---

We review the ongoing credit quality of our 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, we generally have the right to repossess the vehicle in the event the customer defaults on the payment terms of the contract. The following tables are consolidated summaries of the amortized cost basis of retail finance receivables by delinquency status for each vintage of the portfolio at March 31, 2026 and December 31, 2025, as well as summary totals for March 31, 2025. The tables also present gross charge-offs by vintage for the three months ended March 31, 2026 and the year ended December 31, 2025:

---

| | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **March 31, 2026** | **March 31, 2026** | **March 31, 2025** | **March 31, 2025** |
| | **2026** | **2025** | **2024** | **2023** | **2022** | **Prior** | **Total** | **Percent** | **Total** | **Percent** |
| 0 - 30 days | $8014 | $27184 | $17423 | $10009 | $5768 | $3939 | $72338 | 96.6% | $74707 | 97.0% |
| 31 - 60 days | 22 | 423 | 476 | 362 | 279 | 266 | 1828 | 2.4 | 1667 | 2.2 |
| Greater than 60 days |  | 159 | 171 | 133 | 95 | 91 | 651 | 0.9 | 556 | 0.7 |
| Finance receivables more than 30 days delinquent | 23 | 582 | 647 | 495 | 375 | 358 | 2479 | 3.3 | 2223 | 2.9 |
| In repossession |  | 24 | 22 | 15 | 9 | 6 | 76 | 0.1 | 65 | 0.1 |
| Finance receivables more than 30 days delinquent or in repossession | 23 | 605 | 669 | 510 | 384 | 363 | 2555 | 3.4 | 2288 | 3.0 |
| Retail finance receivables | $8037 | $27790 | $18092 | $10519 | $6152 | $4303 | $74893 | 100.0% | $76995 | 100.0% |
| Gross charge-offs | $— | $150 | $162 | $110 | $68 | $52 | $541 |  |  |  |

---

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)**

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **December 31, 2025** | **December 31, 2025** |
| | **2025** | **2024** | **2023** | **2022** | **2021** | **Prior** | **Total** | **Percent** |
| 0 - 30 days | $29871 | $19413 | $11524 | $6744 | $3576 | $1395 | $72523 | 96.2% |
| 31 - 60 days | 370 | 536 | 419 | 334 | 230 | 122 | 2011 | 2.7 |
| Greater than 60 days | 140 | 218 | 172 | 129 | 86 | 51 | 795 | 1.1 |
| Finance receivables more than 30 days delinquent | 510 | 753 | 591 | 463 | 316 | 173 | 2806 | 3.7 |
| In repossession | 18 | 24 | 17 | 10 | 6 | 2 | 75 | 0.1 |
| Finance receivables more than 30 days delinquent or in repossession | 527 | 777 | 608 | 472 | 321 | 175 | 2881 | 3.8 |
| Retail finance receivables | $30399 | $20191 | $12132 | $7216 | $3897 | $1570 | $75404 | 100.0% |
| Gross charge-offs | $187 | $603 | $536 | $358 | $201 | $113 | $1998 |  |

---

The accrual of finance charge income had been suspended on retail finance receivables with contractual amounts due of $959 million and $1.1 billion at March 31, 2026 and December 31, 2025. Accrual of finance charge income on retail finance receivables is generally suspended on accounts that are more than 60 days delinquent, accounts in bankruptcy and accounts in repossession.

**Loan Modifications** Under certain circumstances, we may agree to modify the terms of an existing loan with a borrower for various reasons, including financial difficulties. For those borrowers experiencing financial difficulties, we may provide interest rate reductions, principal forgiveness, payment deferments, term extensions or a combination thereof. A loan that is deferred greater than six months in the preceding twelve months would be considered to be other-than-insignificantly delayed. In such circumstances, we must determine whether the modification should be accounted for as an extinguishment of the original loan and a creation of a new loan, or the continuation of the original loan with modifications.

The amortized cost basis at March 31, 2026 and 2025 of the loans modified during the three months ended March 31, 2026 and 2025 was insignificant. The unpaid principal balances, net of recoveries, of loans charged off during the reporting period that were modified within 12 months preceding default were insignificant for the three months ended March 31, 2026 and 2025.

**Commercial Credit Quality** Our commercial finance receivables consist of dealer financing, primarily for dealer inventory purchases, and other financing, which includes loans to commercial vehicle upfitters, as well as advances to certain GM subsidiaries.

For our dealer financing, we use proprietary models to assign a risk rating to each dealer. We perform periodic credit reviews of each dealership and adjust the dealership's risk rating, if necessary. There is limited credit risk associated with other financing due to the structure of the business relationships.

Our dealer risk model and risk rating categories are as follows:

---

| | |
|:---|:---|
| **Dealer Risk Rating** | **Description** |
| I | Performing accounts with strong to acceptable financial metrics with at least satisfactory capacity to meet financial commitments. |
| II | Performing accounts experiencing potential weakness in financial metrics and repayment prospects resulting in increased monitoring. |
| III | Non-Performing accounts with inadequate paying capacity for current obligations and that have the distinct possibility of creating a loss if deficiencies are not corrected. |
| IV | Non-Performing accounts with inadequate paying capacity for current obligations and inherent weaknesses that make collection or liquidation in full highly questionable or improbable. |

---

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)**

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 March 31, 2026 and December 31, 2025:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **March 31, 2026** | **March 31, 2026** |
|<br>**Dealer Risk Rating** | **Revolving** | **2026** | **2025** | **2024** | **2023** | **2022** | **Prior** | **Total** | **Percent** |
| I | $12161 | $191 | $329 | $207 | $102 | $287 | $263 | $13540 | 88.9% |
| II | 1000 | 7 | 16 | 39 | 27 | 7 | 34 | 1129 | 7.4 |
| III | 457 | 1 | 5 | 47 | 4 | 14 | 25 | 554 | 3.6 |
| IV |  |  |  |  |  |  |  |  |  |
| Balance at end of period | $13617 | $198 | $350 | $293 | $133 | $307 | $323 | $15222 | 100.0% |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **Year of Origination** | **December 31, 2025** | **December 31, 2025** |
|<br>**Dealer Risk Rating** | **Revolving** | **2025** | **2024** | **2023** | **2022** | **2021** | **Prior** | **Total** | **Percent** |
| I | $13704 | $380 | $221 | $125 | $298 | $160 | $156 | $15045 | 89.7% |
| II | 989 | 16 | 33 | 25 | 7 | 35 | 2 | 1106 | 6.6 |
| III | 518 | 5 | 48 | 6 | 14 | 14 | 12 | 618 | 3.7 |
| IV |  |  |  |  |  |  |  |  |  |
| Balance at end of period | $15211 | $402 | $302 | $157 | $319 | $209 | $170 | $16769 | 100.0% |

---

Floorplan advances comprise 99.0% and 99.1% of the total revolving balances at March 31, 2026 and December 31, 2025. Dealer term loans are presented by year of origination.

At March 31, 2026 and December 31, 2025, substantially all of our commercial finance receivables were current with respect to payment status, and activity in the allowance for commercial loan losses was insignificant for the three months ended March 31, 2026 and 2025. There were no commercial finance receivables on nonaccrual status at March 31, 2026 and December 31, 2025.

There were insignificant charge-offs during the three months ended March 31, 2026, and no loan modifications were extended to borrowers experiencing financial difficulty during the three months ended March 31, 2026 and 2025.

**Transfers of Finance Receivables** During the three months ended March 31, 2026, there were no transfers of finance receivables to third parties. The outstanding balance of previously transferred finance receivables subject to our continuing involvement, primarily as servicer, was $1.5 billion at March 31, 2026. Refer to <u>[Note 10](#i79bc4ce500a44a76b6decee91cf69e46_58)</u> for information on our representations and warranties related to this transfer.

**Note 5. Leased Vehicles**

---

| | | |
|:---|:---|:---|
| | **March 31, 2026** | **December 31, 2025** |
| Leased vehicles<sup>(a)</sup> | $40469 | $40596 |
| Less: accumulated depreciation | (7125) | (6909) |
| Leased vehicles, net | $33344 | $33686 |

---

________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)&nbsp;&nbsp;&nbsp;&nbsp;Net of vehicle acquisition costs, less manufacturer incentives and investment tax credits.*

Depreciation expense related to leased vehicles, net was $1.3 billion and $1.2 billion for the three months ended March 31, 2026 and 2025.

The following table summarizes minimum rental payments due to us as lessor under operating leases at March 31, 2026:

---

| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Years Ending December 31,** | **Years Ending December 31,** | **Years Ending December 31,** | **Years Ending December 31,** | **Years Ending December 31,** | **Years Ending December 31,** | **Years Ending December 31,** |
| | **2026** | **2027** | **2028** | **2029** | **2030** | **Thereafter** | **Total** |
| Lease payments under operating leases | $4198 | $3806 | $1595 | $224 | $6 | $— | $9828 |

---

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)**

**Note 6. Equity in Net Assets of Nonconsolidated Affiliates**

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 March 31,** | **Three Months Ended March 31,** |
| **Summarized Operating Data** | **2026** | **2025** |
| Finance charge income | $92 | $152 |
| Income before income taxes | $54 | $48 |
| Net income | $38 | $36 |

---

At March 31, 2026 and December 31, 2025, we had undistributed earnings of $603 million and $589 million related to our nonconsolidated affiliates.

**Note 7. Debt**

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
| | **Carrying Amount** | **Fair Value** | **Carrying Amount** | **Fair Value** |
| **Secured debt** | | | | |
| &nbsp;&nbsp;&nbsp;&nbsp;Revolving credit facilities | $1921 | $1921 | $1869 | $1869 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securitization notes payable | 44901 | 45105 | 45035 | 45384 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total secured debt | 46823 | 47026 | 46904 | 47252 |
| **Unsecured debt** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Senior notes | 54004 | 54756 | 55848 | 57277 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit facilities | 2445 | 2459 | 2863 | 2881 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other unsecured debt | 8556 | 8580 | 8415 | 8449 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total unsecured debt | 65005 | 65795 | 67127 | 68607 |
| Total secured and unsecured debt | $111827 | $112821 | $114031 | $115860 |
| Fair value utilizing Level 2 inputs | Fair value utilizing Level 2 inputs | $110015 |  | $113180 |
| Fair value utilizing Level 3 inputs | Fair value utilizing Level 3 inputs | $2806 |  | $2679 |

---

**Secured Debt** Most of the secured debt was issued by VIEs and is repayable only from proceeds related to the underlying pledged assets. Refer to <u>[Note 8](#i79bc4ce500a44a76b6decee91cf69e46_52)</u> for further information.

During the three months ended March 31, 2026, we renewed revolving credit facilities with a total borrowing capacity of $2.5 billion, and we issued $4.5 billion in aggregate principal amount of securitization notes payable with an initial weighted average interest rate of 4.18% and maturity dates ranging from 2026 to 2034.

**Unsecured Debt** During the three months ended March 31, 2026, we issued $2.0 billion in aggregate principal amount of senior notes with an initial weighted average interest rate of 4.96% and maturity dates ranging from 2029 to 2036.

General Motors Financial Company, Inc. is the sole guarantor of its subsidiaries' unsecured debt obligations for which a guarantee is provided.

**Compliance with Debt Covenants** Several of our revolving credit facilities require compliance with certain financial and operational covenants as well as regular reporting to lenders, including providing certain subsidiary financial statements. Certain of our secured debt agreements also contain various covenants, including maintaining portfolio performance ratios as well as limits on deferment levels. Our unsecured debt obligations contain covenants including limitations on our ability to incur certain liens. At March 31, 2026, we were in compliance with these debt covenants.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)**

**Note 8. Variable Interest Entities**

**Securitizations and Credit Facilities** The following table summarizes the assets and liabilities related to our consolidated VIEs:

---

| | | |
|:---|:---|:---|
| | **March 31, 2026** | **December 31, 2025** |
| Restricted cash<sup>(a)</sup> | $3717 | $2888 |
| Finance receivables | $48286 | $49533 |
| Lease related assets | $13483 | $13791 |
| Secured debt | $46844 | $46913 |

---

_______________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a) Included in other assets.*

**Note 9. Derivative Financial Instruments and Hedging Activities**

We are exposed to certain risks arising from both our business operations and economic conditions. We manage interest rate risk primarily by using derivative financial instruments. Specifically, we enter into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. We use derivative financial instruments to manage differences in the amount, timing, and duration of our known or expected cash receipts and our known or expected cash payments principally related to our borrowings.

Certain of our foreign operations expose us to fluctuations of foreign interest rates and exchange rates. We primarily finance our earning assets with debt in the same currency to minimize the impact to earnings from our exposure to fluctuations in exchange rates. When we use a different currency, these fluctuations may impact the value of our cash receipts and payments in terms of our functional currency. We enter into derivative financial instruments to protect the value or fix the amount of certain assets and liabilities in terms of the relevant functional currency.

The table below presents the gross fair value amounts of our derivative financial instruments and the associated notional amounts:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
|  | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
|  | **Notional** | **Fair Value of Assets** | **Fair Value of Liabilities** | **Notional** | **Fair Value of Assets** | **Fair Value of Liabilities** |
| **Derivatives designated as hedges** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Fair value hedges** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps | $36367 | $55 | $421 | $33880 | $88 | $457 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Cash flow hedges** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps | 2486 | 28 | 15 | 2302 | 18 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency swaps | 8190 | 334 | 109 | 9226 | 580 | 58 |
| **Derivatives not designated as hedges** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate contracts | 118692 | 420 | 582 | 122505 | 421 | 637 |
| Total | $165734 | $836 | $1127 | $167913 | $1107 | $1175 |

---

The gross amounts of the fair value of our derivative instruments that are classified as assets or liabilities are included in other assets or other liabilities, respectively. 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. All our derivatives are categorized within Level 2 of the fair value hierarchy. 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. Notional principal or contract amounts are reference amounts from which contractual obligations are derived and are not recorded on the balance sheet. Notional amounts do not represent our financial exposure. Our credit exposure is limited to the uncollected interest and the market value related to the instruments that have become favorable to us, to the extent that market values are not collateralized.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)**

We primarily enter into derivative instruments through AmeriCredit Financial Services, Inc. (AFSI); however, our SPEs may also be parties to derivative instruments. Agreements between AFSI and its derivative counterparties include rights of setoff for positions with offsetting values or for collateral held or posted. At March 31, 2026 and December 31, 2025, the fair value of derivative instruments that are classified as assets or liabilities available for offset was $515 million and $520 million. At March 31, 2026 and December 31, 2025, we held $57 million and $44 million of collateral from counterparties that was available for netting against our asset positions. At March 31, 2026 and December 31, 2025, we had $585 million and $615 million of collateral posted to counterparties that was available for netting against our liability positions.

The following amounts were recorded in the condensed consolidated balance sheet related to items designated and qualifying as hedged items in fair value hedging relationships:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Carrying Amount of <br>Hedged Items** | **Carrying Amount of <br>Hedged Items** | **Cumulative Amount of Fair Value<br>Hedging Adjustments**<sup>(a)</sup> | **Cumulative Amount of Fair Value<br>Hedging Adjustments**<sup>(a)</sup> |
| | **March 31, 2026** | **December 31, 2025** | **March 31, 2026** | **December 31, 2025** |
| Unsecured debt | $33540 | $35187 | $677 | $693 |

---

_________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)Includes $363 million and $428 million of unamortized losses remaining on hedged items for which hedge accounting has been discontinued at March 31, 2026 and December 31, 2025.*

The table below presents the effect of our derivative financial instruments in the condensed consolidated statements of income:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2026** | **2025** | **2025** |
| | **Interest Expense**<sup>(a)</sup> | **Operating Expenses**<sup>(b)</sup> | **Interest Expense**<sup>(a)</sup> | **Operating Expenses**<sup>(b)</sup> |
| **Fair value hedges** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hedged items - interest rate swaps | $(16) | $— | $(321) | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps | (20) |  | 251 |  |
| **Cash flow hedges** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps |  |  | 4 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Hedged items - foreign currency swaps<sup>(c)</sup> |  | 151 |  | (340) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency swaps | (29) | (151) | (34) | 340 |
| **Derivatives not designated as hedges** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate contracts | 4 |  | 7 |  |
| Total income (loss) recognized | $(61) | $— | $(93) | $(1) |

---

_________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)Total interest expense was $1.5 billion and $1.6 billion for the three months ended March 31, 2026 and 2025.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b)Total operating expenses were $584 million and $513 million for the three months ended March 31, 2026 and 2025.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c)Transaction activity recorded in operating expenses related to foreign currency-denominated debt.*

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)**

The tables below present the effect of our derivative financial instruments in the condensed consolidated statements of comprehensive income:

---

| | | |
|:---|:---|:---|
| | **Gains (Losses) Recognized In<br>Accumulated Other Comprehensive Income (Loss)** | **Gains (Losses) Recognized In<br>Accumulated Other Comprehensive Income (Loss)** |
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| **Cash flow hedges** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps | $9 | $(14) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency swaps | (163) | 157 |
| Total | $(153) | $143 |

---

---

| | | |
|:---|:---|:---|
| | **(Gains) Losses Reclassified From Accumulated Other<br>Comprehensive Income (Loss) Into Income (Loss)** | **(Gains) Losses Reclassified From Accumulated Other<br>Comprehensive Income (Loss) Into Income (Loss)** |
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| **Cash flow hedges** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest rate swaps | $— | $(3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Foreign currency swaps | 136 | (231) |
| Total | $135 | $(234) |

---

All amounts reclassified from accumulated other comprehensive income (loss) were recorded to operating expenses or interest expense. During the next 12 months, we estimate an insignificant amount of gains will be reclassified into pre-tax earnings from derivatives designated for hedge accounting.

**Note 10. Commitments and Contingencies**

**Legal Proceedings** We are subject to various pending and potential legal and regulatory proceedings in the ordinary course of business, including litigation, arbitration, claims, investigations, examinations, subpoenas and enforcement proceedings. Some litigation against us could take the form of class actions. The outcome of these proceedings is inherently uncertain, and thus we cannot confidently predict how or when proceedings will be resolved. An adverse outcome in one or more of these proceedings could result in substantial damages, settlements, fines, penalties, diminished income or reputational harm.

We establish reserves for legal matters when it is probable that a loss associated with the matter has been incurred and the amount of the loss can be reasonably estimated. The actual costs of resolving legal matters may be higher or lower than any amounts reserved for these matters. At March 31, 2026, we estimated our reasonably possible legal exposure for unfavorable outcomes to be insignificant.

**Indirect Tax-Related Matters** We accrue non-income tax liabilities for contingencies when we believe that a loss is probable and the amounts can be reasonably estimated, while contingent gains are recognized only when realized. In the event any losses are sustained in excess of accruals, they will be charged against income at that time.

In evaluating indirect tax matters, we take into consideration factors such as our historical experience with matters of similar nature, specific facts and circumstances, and the likelihood of prevailing. We reevaluate and update our accruals as matters progress over time. We estimate our reasonably possible loss in excess of amounts accrued to be up to $163 million at March 31, 2026.

**Representations and Warranties** We provide various representations and warranties regarding certain assets transferred in certain financial transactions. The extent and nature of the representations and warranties vary among different transactions. If such representations and warranties are breached, we may be required to repurchase certain assets or make other payments relating thereto. A breach of our representations and warranties is considered unlikely, and therefore our maximum exposure to loss is insignificant.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)**

**Contract Commitments** In September 2025, we entered into $2.1 billion of purchase commitments with various dealers to acquire certain electric vehicles (EVs) through June 30, 2026. We made a down payment to the dealers, and we will purchase the EVs as they are placed in service and assigned to us as part of our normal leasing operations, or upon expiration of the purchase commitments. As of March 31, 2026, we have up to approximately $159 million of purchase commitments remaining for any EVs that have not been placed in service by June 30, 2026.

**Note 11. Shareholders' Equity**

---

| | | |
|:---|:---|:---|
| | **March 31, 2026** | **December 31, 2025** |
| **Common Stock** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Number of shares authorized | 10,000,000 | 10,000,000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Number of shares issued and outstanding | 5,050,000 | 5,050,000 |

---

During the three months ended March 31, 2026 and 2025, our Board of Directors declared and paid dividends of $650 million and $350 million on our common stock to GM.

---

| | | |
|:---|:---|:---|
| | **March 31, 2026** | **December 31, 2025** |
| **Preferred Stock** | | |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Number of shares authorized | 250000000 | 250000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Number of shares issued and outstanding<sup>(a)</sup> |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock, <br>Series A (Series A Preferred Stock) | 1000000 | 1000000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed-to-Floating Rate Cumulative Perpetual Preferred Stock, <br>Series B (Series B Preferred Stock) | 500000 | 500000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Fixed-Rate Reset Cumulative Perpetual Preferred Stock, <br>Series C (Series C Preferred Stock) | 500000 | 500000 |

---

_________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)Issued at a liquidation preference of $1,000 per share.*

During both the three months ended March 31, 2026 and 2025, we paid dividends of $29 million to holders of record of our Series A Preferred Stock, $16 million to holders of record of our Series B Preferred Stock, and $14 million to holders of record of our Series C Preferred Stock.

The following table summarizes the significant components of accumulated other comprehensive income (loss):

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| **Unrealized gain (loss) on hedges** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning balance | $(67) | $77 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in value of hedges, net of tax | (18) | (91) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ending balance | $(84) | $(13) |
| **Foreign currency translation adjustment** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning balance | $(1335) | $(1609) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Translation gain (loss) | 21 | 63 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Ending balance | $(1314) | $(1546) |

---

**Note 12. Income Taxes** 

We are included in GM's consolidated U.S. federal income tax returns and certain U.S. state returns. Net operating losses and certain tax credits generated by us have been utilized by GM; however, income tax expense and deferred tax balances are presented in our financial statements as if we filed our own tax returns in each jurisdiction. Refer to <u>[Note 3](#i79bc4ce500a44a76b6decee91cf69e46_37)</u> for further information on related party taxes.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)**

**Note 13. Segment Reporting** 

We analyze the results of our business through the following reportable segments: North America and International. Our chief operating decision-maker, the President and Chief Executive Officer, evaluates the results of operations through reportable segment income before income taxes. This financial metric is used to review operating trends, perform analytical comparisons between periods and among geographic regions, and to monitor budget-to-actual variances on a monthly basis in order to assess performance and allocate resources.

Our North America Segment includes operations in the U.S. and Canada. Our International Segment includes operations in Brazil, Chile, Colombia, Mexico and Peru, as well as our equity investments in joint ventures in China. The management of each segment is responsible for executing our strategies.

The following tables present certain income statement information by segment:

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** | **Three Months Ended March 31, 2026** |
| | **North America** | **International** | **Total** |
| Revenue from reportable segments | $3749 | $503 | $4252 |
| *Reconciliation of revenue* |  |  |  |
| Other revenue<sup>(a)</sup> | Other revenue<sup>(a)</sup> | Other revenue<sup>(a)</sup> | 24 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $4276 |
| Costs and expenses<sup>(b)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries and benefits | 265 | 44 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Leased vehicle depreciation | 1305 | 26 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;(Gain) loss on termination of leased vehicles | (134) | 3 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for loan losses | 218 | 49 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 1340 | 198 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;GM Protection claim losses | 18 |  |  |
| Other segment items<sup>(c)</sup> | 147 | 77 |  |
| Equity income  |  | 14 |  |
| Reportable segment income before income taxes | $589 | $121 | $710 |
| *Reconciliation to income before income taxes* |  |  |  |
| Other loss<sup>(d)</sup> | Other loss<sup>(d)</sup> | Other loss<sup>(d)</sup> | (21) |
| Income before income taxes | Income before income taxes | Income before income taxes | $688 |

---

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS - (Continued)**

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** | **Three Months Ended March 31, 2025** |
| | **North America** | **International** | **Total** |
| Revenue from reportable segments | $3778 | $377 | $4155 |
| *Reconciliation of revenue* |  |  |  |
| Other revenue<sup>(a)</sup> | Other revenue<sup>(a)</sup> | Other revenue<sup>(a)</sup> | 9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | &nbsp;&nbsp;&nbsp;&nbsp;Total revenue | $4164 |
| Costs and expenses<sup>(b)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries and benefits | 272 | 38 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Leased vehicle depreciation | 1185 | 18 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Gain on termination of leased vehicles | (156) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for loan losses | 292 | 36 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 1424 | 173 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;GM Protection claim losses | 10 |  |  |
| Other segment items<sup>(c)</sup> | 126 | 49 |  |
| Equity income |  | 12 |  |
| Reportable segment income before income taxes | $625 | $75 | $700 |
| *Reconciliation to income before income taxes* |  |  |  |
| Other loss<sup>(d)</sup> | Other loss<sup>(d)</sup> | Other loss<sup>(d)</sup> | (15) |
| Income before income taxes | Income before income taxes | Income before income taxes | $685 |

---

________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)Revenue from our other operating segment that does not meet any of the quantitative thresholds for determining reportable segments.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b)The significant expense categories and amounts align with the segment-level information that is regularly provided to the chief operating decision-maker.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(c)Other segment items for each reportable segment primarily include professional fees, supplies and equipment, occupancy costs, depreciation and amortization, and commission expense.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(d)Income/loss from our other operating segment that does not meet any of the quantitative thresholds for determining reportable segments.*

The following table presents certain balance sheet information by segment:

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **North America** | **International** | **Total** | **North America** | **International** | **Total** |
| Finance receivables, net | $79982 | $7873 | $87855 | $82219 | $7826 | $90045 |
| Leased vehicles, net | $32787 | $558 | $33344 | $33158 | $529 | $33686 |
| Assets from reportable segments | $126748 | $11130 | $137878 | $129261 | $11010 | $140272 |
| Other assets<sup>(a)</sup> | Other assets<sup>(a)</sup> | Other assets<sup>(a)</sup> | 200 | . | . | 205 |
| Total assets | Total assets | Total assets | $138078 | . | . | $140477 |

---

______________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)Assets from our other operating segment that does not meet any of the quantitative thresholds for determining reportable segments.*

**Note 14. Regulatory Capital and Other Regulatory Matters**

We are required to comply with a wide variety of laws and regulations. Certain of our entities operate in international markets as either banks or regulated finance companies that are subject to regulatory restrictions. These regulatory restrictions, among other things, require that certain of these entities meet minimum capital requirements and may restrict dividend distributions and ownership of certain assets. We were in compliance with all regulatory capital requirements as most recently reported. Total assets of our regulated international banks and finance companies were approximately $9.4 billion and $9.3 billion at March 31, 2026 and December 31, 2025.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations**

Forward-looking statements in this Management's Discussion and Analysis of Financial Condition and Results of Operations (MD&A) are not guarantees of future performance and may involve risks and uncertainties that could cause actual results to differ materially from those projected. Refer to the "Forward-Looking Statements" section of this MD&A, the "Risk Factors" section of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, as filed with the Securities and Exchange Commission (SEC) on January 27, 2026 (2025 Form 10-K), and Part II, Item 1A. Risk Factors for a discussion of these risks and uncertainties.

**Basis of Presentation** 

This MD&A should be read in conjunction with the accompanying condensed consolidated financial statements and notes thereto and the audited consolidated financial statements and notes thereto included in our 2025 Form 10-K.

Except as otherwise specified, dollar amounts presented within tables are stated in millions. Certain columns and rows may not add due to rounding. Average balances are calculated using daily balances, where available. Otherwise, average balances are calculated using monthly balances.

**Results of Operations**

**Key Drivers** Income before income taxes was $688 million and $685 million for the three months ended March 31, 2026 and 2025. Changes in key drivers include the following:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Finance charge income on retail finance receivables increased $22 million primarily due to an increase in the effective yield, partially offset by a decrease in the average balance of the portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*•* Finance charge income on commercial finance receivables decreased $81 million primarily due to a decrease in the effective yield, resulting from lower short-term benchmark rates, and a decrease in the average balance of the portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Leased vehicle income increased $82 million primarily due to an increase in the average balance of the leased vehicles portfolio.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Other income increased $89 million primarily due to an increase in earned premiums and fees on vehicle protection contracts.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Leased vehicle expenses increased $159 million primarily due to increased depreciation expense primarily on electric vehicles (EVs).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*•* Operating expenses increased $72 million primarily due to an increase in expenses related to the insurance and vehicle protection businesses.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;***•*** Provision for loan losses decreased $61 million primarily due to lower loan origination volume.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Interest expense decreased $59 million primarily due to a lower effective rate of interest on our debt and a slight decrease in the average debt outstanding.

For the year ending December 31, 2026, we expect to recognize income before income taxes in the $2.5 billion to $3.0 billion range.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**<u>Three Months Ended March 31, 2026 compared to Three Months Ended March 31, 2025</u>**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Average Earning Assets** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **2026 vs. 2025** | **2026 vs. 2025** |
|  | **2026** | **2025** | **Amount** | **Percentage** |
| Average retail finance receivables | $75170 | $76940 | $(1770) | (2.3)% |
| Average commercial finance receivables | 15764 | 18031 | (2266) | (12.6)% |
| Average finance receivables | 90934 | 94971 | (4036) | (4.3)% |
| Average leased vehicles, net | 33542 | 31941 | 1601 | 5.0% |
| Average earning assets | $124477 | $126912 | $(2435) | (1.9)% |
| Retail finance receivables purchased | $8253 | $9564 | $(1311) | (13.7)% |
| Leased vehicles purchased | $4047 | $4984 | $(937) | (18.8)% |

---

Average retail finance receivables decreased primarily due to decreased loan originations, resulting from lower U.S. retail penetration. Our penetration of GM's retail sales in the U.S. was 34.1% and 36.4% for the three months ended March 31, 2026 and 2025. Penetration levels vary depending on incentive financing programs available and competing third-party financing products in the market.

Average commercial finance receivables decreased primarily due to lower GM inventory. Our floorplan dealer penetration in the U.S. was 48.1% and 47.6% at March 31, 2026 and 2025.

Leased vehicles purchased decreased primarily due to lower GM sales and lower net capitalized cost.

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Revenue** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **2026 vs. 2025** | **2026 vs. 2025** |
|  | **2026** | **2025** | **Amount** | **Percentage** |
| Finance charge income |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Retail finance receivables | $1716 | $1694 | $22 | 1.3% |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial finance receivables | $250 | $331 | $(81) | (24.5)% |
| Leased vehicle income | $1985 | $1902 | $82 | 4.3% |
| Other income | $326 | $236 | $89 | 37.8% |
| Equity income | $14 | $12 | $2 | 14.1% |
| Effective yield - retail finance receivables | 9.3% | 8.9% |  |  |
| Effective yield - commercial finance receivables | 6.4% | 7.5% |  |  |

---

***Finance Charge Income - Retail Finance Receivables*** Finance charge income on retail finance receivables increased primarily due to an increase in the effective yield, partially offset by a decrease in the average balance of the portfolio. The effective yield represents finance charges, rate subvention and fees recorded in earnings during the period as a percentage of average retail finance receivables.

***Finance Charge Income - Commercial Finance Receivables*** Finance charge income on commercial finance receivables decreased primarily due to a decrease in the effective yield, resulting from lower short-term benchmark rates, and a decrease in the average balance of the portfolio.

***Leased Vehicle Income*** Leased vehicle income increased primarily due to an increase in the average balance of the leased vehicles portfolio.

***Other Income*** Other income increased primarily due to an increase in earned premiums and fees on vehicle protection contracts.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Costs and Expenses** | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **2026 vs. 2025** | **2026 vs. 2025** |
|  | **2026** | **2025** | **Amount** | **Percentage** |
| Operating expenses | $584 | $513 | $72 | 14.0% |
| Leased vehicle expenses | $1213 | $1054 | $159 | 15.1% |
| Provision for loan losses | $267 | $328 | $(61) | (18.7)% |
| Interest expense | $1538 | $1597 | $(59) | (3.7)% |
| Average debt outstanding | $114475 | $115462 | $(987) | (0.9)% |
| Effective rate of interest on debt | 5.4% | 5.6% |  |  |

---

***Operating Expenses*** Operating expenses as an annualized percentage of average earning assets were 1.9% and 1.6% for the three months ended March 31, 2026 and 2025. Operating expenses increased primarily due to an increase in expenses related to the insurance and vehicle protection businesses.

***Leased Vehicle Expenses*** Leased vehicle expenses increased primarily due to increased depreciation expense primarily on EVs.

***Provision for Loan Losses*** Provision for loan losses decreased primarily due to lower loan origination volume.

***Interest Expense*** Interest expense decreased primarily due to a lower effective rate of interest on our debt and a slight decrease in the average debt outstanding.

***Taxes*** Our consolidated effective income tax rates were 25.3% and 27.1% of income before income taxes for the three months ended March 31, 2026 and 2025.

**Other Comprehensive Income (Loss)**

***Unrealized Gain (Loss) on Hedges*** Unrealized gain (loss) on hedges included in other comprehensive income (loss) was $(18) million and $(91) million for the three months ended March 31, 2026 and 2025. The change in unrealized gain (loss) was primarily due to changes in the fair value of our foreign currency swap agreements.

Unrealized gains and losses on cash flow hedges of our floating rate debt are reclassified into earnings in the same period during which the hedged transactions affect earnings via principal remeasurement or accrual of interest expense.

***Foreign Currency Translation Adjustment*** Foreign currency translation adjustments included in other comprehensive income (loss) were $21 million and $63 million for the three months ended March 31, 2026 and 2025. Translation adjustments resulted from changes in the values of our international currency-denominated assets and liabilities as the value of the U.S. Dollar changed in relation to international currencies. The foreign currency translation gain for the three months ended March 31, 2026 was primarily due to appreciating values of the Brazilian Real and Chinese Yuan Renminbi, partially offset by the depreciating value of the Canadian Dollar in relation to the U.S. Dollar. The foreign currency translation gain for the three months ended March 31, 2025 was primarily due to appreciating values of the Brazilian Real, Mexican Peso, and Chinese Yuan Renminbi in relation to the U.S. Dollar.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**Earning Assets Quality**

**Retail Finance Receivables** Our retail finance receivables portfolio includes loans made to consumers and businesses to finance the purchase of vehicles for personal and commercial use. A summary of the credit risk profile by FICO score or its equivalent, determined at origination, of the retail finance receivables is as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** |
| | **Amount** | **Percent** | **Amount** | **Percent** |
| Prime - FICO Score 680 and greater | $55732 | 74.4% | $56440 | 74.9% |
| Near-prime - FICO Score 620 to 679 | 9303 | 12.4 | 9303 | 12.3 |
| Sub-prime - FICO Score less than 620 | 9858 | 13.2 | 9661 | 12.8 |
| Retail finance receivables | 74893 | 100.0% | 75404 | 100.0% |
| Less: allowance for loan losses | (2664) |  | (2656) |  |
| Retail finance receivables, net | $72229 |  | $72748 |  |
| Number of outstanding contracts | 3172786 |  | 3194917 |  |
| Average amount of outstanding contracts (in dollars)<sup>(a)</sup> | $23605 |  | $23601 |  |
| Allowance for loan losses as a percentage of retail finance receivables | 3.6% |  | 3.5% |  |

---

_________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)Average amount of outstanding contracts is calculated as retail finance receivables, divided by number of outstanding contracts.* 

***Delinquency*** The following is a consolidated summary of delinquent retail finance receivables:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **March 31, 2025** | **March 31, 2025** |
| | **Amount** | **Percent** | **Amount** | **Percent** |
| 31 - 60 days | $1828 | 2.4% | $1667 | 2.2% |
| Greater than 60 days | 651 | 0.9 | 556 | 0.7 |
| Total finance receivables more than 30 days delinquent | 2479 | 3.3 | 2223 | 2.9 |
| In repossession | 76 | 0.1 | 65 | 0.1 |
| Total finance receivables more than 30 days delinquent or in repossession | $2555 | 3.4% | $2288 | 3.0% |

---

At March 31, 2026, delinquency increased from March 31, 2025, primarily due to changes in the composition of credit mix of the portfolio.

***Loan Modifications*** Loan modifications extended to borrowers experiencing financial difficulty were insignificant for the three months ended March 31, 2026 and 2025. Refer to <u>[Note 4](#i79bc4ce500a44a76b6decee91cf69e46_40)</u> to our condensed consolidated financial statements for further information on loan modifications.

***Net Charge-offs*** The following table presents charge-off data with respect to our retail finance receivables portfolio:

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Charge-offs | $541 | $479 |
| Less: recoveries | (269) | (250) |
| Net charge-offs | $272 | $229 |
| Net charge-offs as an annualized percentage of average retail finance receivables | 1.5% | 1.2% |

---

Net charge-offs for the three months ended March 31, 2026 increased compared to the same period in 2025, due to changes in the composition of credit mix of the portfolio and lower recovery rates.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

---

| | | |
|:---|:---|:---|
| **Commercial Finance Receivables** | **March 31, 2026** | **December 31, 2025** |
| Commercial finance receivables | $15684 | $17365 |
| Less: allowance for loan losses | (59) | (68) |
| Commercial finance receivables, net | $15625 | $17297 |
| Number of dealers | 2517 | 2554 |
| Average carrying amount per dealer | $6 | $7 |
| Allowance for loan losses as a percentage of commercial finance receivables | 0.4% | 0.4% |

---

Substantially all of our commercial finance receivables were current with respect to payment status at March 31, 2026 and December 31, 2025. No commercial loans were modified for the three months ended March 31, 2026 and 2025.

**Leased Vehicles** The following table summarizes activity in our operating lease portfolio (in thousands, except where noted):

---

| | | |
|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** |
| | **2026** | **2025** |
| Operating leases purchased | 81 | 98 |
| Operating leases terminated | 89 | 93 |
| Operating leased vehicles returned<sup>(a)</sup> | 32 | 25 |
| Percentage of leased vehicles returned<sup>(b)</sup> | 36% | 26% |

---

________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)Represents the number of vehicles returned to us for remarketing.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b)Calculated as the number of operating leased vehicles returned divided by the number of operating leases terminated.* 

The return rate is largely dependent on the level of used vehicle values at lease termination compared to contractual residual values at lease inception. The return rate for the three months ended March 31, 2026 increased compared to the same period in 2025, primarily due to leased vehicle prices approaching or falling below contract residual values.

The following table summarizes the residual value based on our most recent estimates and the number of units included in leased vehicles, net by vehicle type (units in thousands):

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | **March 31, 2026** | **March 31, 2026** | **March 31, 2026** | **December 31, 2025** | **December 31, 2025** | **December 31, 2025** |
| | **Residual Value** | **Units** | **Percentage <br>of Units** | **Residual Value** | **Units** | **Percentage <br>of Units** |
| Crossovers | $12918 | 604 | 63.9% | $13145 | 617 | 64.8% |
| Trucks | 8936 | 261 | 27.7 | 8702 | 254 | 26.6 |
| SUVs | 2593 | 54 | 5.8 | 2619 | 56 | 5.9 |
| Cars | 502 | 25 | 2.6 | 515 | 26 | 2.7 |
| Total | $24950 | 944 | 100.0% | $24981 | 952 | 100.0% |

---

At March 31, 2026 and December 31, 2025, residual values of leased EVs represented 22.2% and 21.1% of total residual values. At March 31, 2026 and 2025, 99.3% and 99.4% of our operating leases were current with respect to payment status.

**Liquidity and Capital Resources**

**General** Our primary sources of cash are finance charge income, leasing income and proceeds from the sale of terminated leased vehicles, net proceeds from credit facilities, securitizations, secured and unsecured borrowings, and collections and recoveries on finance receivables. Our expected material uses of cash are purchases and funding of finance receivables and leased vehicles, repayment or repurchases of secured and unsecured debt, funding credit enhancement requirements in connection with securitizations and secured credit facilities, interest costs, operating expenses, income taxes and dividend payments.

Typically, our purchase and funding of retail and commercial finance receivables and leased vehicles are initially financed by utilizing cash and borrowings on our secured credit facilities. Subsequently, we typically obtain long-term financing for finance receivables and leased vehicles through securitization transactions and the issuance of unsecured debt.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

The following table summarizes our available liquidity:

---

| | | |
|:---|:---|:---|
| **Liquidity** | **March 31, 2026** | **December 31, 2025** |
| Cash, cash equivalents and marketable debt securities<sup>(a)</sup> | $5189 | $5866 |
| Available capacity under secured credit facilities | 25833 | 25924 |
| Available under committed unsecured credit facilities | 1010 | 967 |
| Available under the Junior Subordinated Revolving Credit Facility | 1000 | 1000 |
| Available under the GM Revolving 364-Day Credit Facility | 2000 | 2000 |
| Available liquidity | $35032 | $35756 |

---

_________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)Includes $392 million and $368 million in unrestricted cash outside of the U.S. at March 31, 2026 and December 31, 2025, of which certain amounts are considered to be indefinitely invested based on specific plans for reinvestment.*

Our available liquidity varies quarterly based on factors including near-term debt issuances and maturities, as well as changes in our earning assets. We generally target liquidity levels to support at least six months of our expected net cash outflows, including new originations, without access to new debt financing transactions or other capital markets activity. At March 31, 2026, available liquidity exceeded our liquidity targets.

**Cash Flows** The following table summarizes our cash flow activities.

---

| | | | |
|:---|:---|:---|:---|
|  | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **2026 vs. 2025** |
| | **2026** | **2025** | **2026 vs. 2025** |
| Net cash provided by (used in) operating activities | $1633 | $1877 | $(245) |
| Net cash provided by (used in) investing activities | $1357 | $286 | $1070 |
| Net cash provided by (used in) financing activities | $(2837) | $1444 | $(4282) |

---

The following table summarizes our net cash provided by (used in) operating activities. For further detail on our net cash provided by (used in) investing and financing activities, please refer to the Condensed Consolidated Statements of Cash Flows.

---

| | | | |
|:---|:---|:---|:---|
| | **Three Months Ended March 31,** | **Three Months Ended March 31,** | **2026 vs. 2025** |
| **Operating Activities** | **2026** | **2025** | **2026 vs. 2025** |
| Net income (loss) | $514 | $499 | $15 |
| Depreciation and amortization | 1415 | 1298 | 117 |
| Accretion and amortization of loan and leasing fees | (389) | (404) | 15 |
| Provision for loan losses | 267 | 328 | (61) |
| Other non-cash income | (143) | (283) | 141 |
| Changes in assets and liabilities | (139) | 340 | (478) |
| Deferred income taxes | 107 | 100 | 7 |
| **Net cash provided by (used in) operating activities** | $1633 | $1877 | $(245) |

---

**Credit Ratings** We receive ratings from four independent credit rating agencies: DBRS Limited, Fitch Ratings, Moody's Investors Service and Standard & Poor's. The credit ratings assigned to us from all the credit rating agencies are closely associated with their opinions on GM. As of April 21, 2026, all credit ratings remained unchanged since December 31, 2025.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**Credit Facilities** In the normal course of business, in addition to using our available cash, we fund our operations by borrowing under our credit facilities, which may be secured and/or structured as securitizations or may be unsecured. We repay these borrowings as appropriate under our liquidity management strategy.

At March 31, 2026, credit facilities consist of the following:

---

| | | |
|:---|:---|:---|
| **Facility Type** | **Facility Amount** | **Advances Outstanding** |
| Secured debt<sup>(a)</sup> | $27807 | $1921 |
| Unsecured debt<sup>(b)</sup> | 3454 | 2445 |
| Junior Subordinated Revolving Credit Facility | 1000 |  |
| GM Revolving 364-Day Credit Facility | 2000 |  |
| Total | $34261 | $4366 |

---

_________________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)Includes committed and uncommitted revolving credit facilities backed by retail finance receivables and leases as well as loans to dealers for floorplan financing. The financial institutions providing the uncommitted facilities are not contractually obligated to advance funds under them, and no unused borrowing capacity is included in the facility amount. We had no advances outstanding on these uncommitted facilities at March 31, 2026.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(b)Includes committed and uncommitted facilities. The financial institutions providing the uncommitted facilities are not contractually obligated to advance funds under them, and no unused borrowing capacity is included in the facility amount. We had $2.4 billion of advances outstanding on these facilities at March 31, 2026.*

Refer to <u>[Note 7](#i79bc4ce500a44a76b6decee91cf69e46_49)</u> to our condensed consolidated financial statements for further discussion.

**Securitization Notes Payable** We periodically finance our retail and commercial finance receivables and leases through public and private term securitization transactions, where the securitization markets are sufficiently developed.

Our securitizations and credit facilities generally utilize special purpose entities, which are also variable interest entities that meet the requirements to be consolidated in our financial statements. Refer to <u>[Note 8](#i79bc4ce500a44a76b6decee91cf69e46_52)</u> to our condensed consolidated financial statements for further discussion.

**Unsecured Debt** We periodically access the unsecured debt capital markets through the issuance of senior unsecured notes. At March 31, 2026, the aggregate principal amount of our outstanding unsecured senior notes was $54.9 billion.

We issue other unsecured debt through demand notes, commercial paper and other bank and non-bank funding sources. At March 31, 2026, we had $3.4 billion outstanding in demand notes and $3.0 billion under the U.S. commercial paper program.

**Support Agreement - Leverage Ratio** Our earning assets leverage ratio, calculated in accordance with the terms of the support agreement with GM (the Support Agreement), was 8.52x and 8.67x at March 31, 2026 and December 31, 2025, and the applicable leverage ratio threshold was 12.00x. In determining our earning assets leverage ratio (net earning assets divided by adjusted equity) under the Support Agreement, net earning assets means our finance receivables, net, plus leased vehicles, net, and adjusted equity means our equity, net of goodwill and inclusive of outstanding junior subordinated debt, as each may be adjusted for derivative accounting.

**Asset and Liability Maturity Profile** We define our asset and liability maturity profile as the cumulative maturities of our finance receivables, investment in leased vehicles, net of accumulated depreciation, cash and cash equivalents and other assets, less our cumulative debt maturities. We manage our balance sheet so that asset maturities will exceed debt maturities each year. The following chart presents our cumulative maturities for assets and debt at March 31, 2026:

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **2026** | **2027** | **2028** | **2029 and Thereafter** |
| Encumbered assets | $20727 | $39869 | $52298 | $65486 |
| Unencumbered assets | 42278 | 60159 | 69477 | 72592 |
| &nbsp;&nbsp;&nbsp;Total assets | $63004 | $100028 | $121775 | $138078 |
| Secured debt | $14827 | $28521 | $37412 | $46846 |
| Unsecured debt | 13119 | 25585 | 36161 | 65903 |
| &nbsp;&nbsp;Total debt<sup>(a)</sup> | $27946 | $54106 | $73573 | $112749 |

---

*_________________* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)Excludes unamortized debt premium/(discount), unamortized debt issuance costs and fair value adjustments.* 

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**Off-Balance Sheet Arrangements** 

**Transfers of Finance Receivables** During the three months ended March 31, 2026, there were no transfers of finance receivables to third parties. The outstanding balance of previously transferred finance receivables subject to our continuing involvement, primarily as servicer, was $1.5 billion at March 31, 2026. Refer to <u>[Note 10](#i79bc4ce500a44a76b6decee91cf69e46_58)</u> to our condensed consolidated financial statements for information on our representations and warranties related to this transfer.

**Non-GAAP Measures**

***Net Income Attributable to Common Shareholder - adjusted*** We use net income attributable to common shareholder - adjusted, a non-GAAP measure, to calculate our return on average tangible common equity - adjusted because it excludes certain adjustments that are not considered part of our core operations. It is calculated by subtracting the dividends paid to preferred shareholders from net income, after any adjustments.

The following table presents our reconciliation of net income attributable to common shareholder - adjusted to net income, the most directly comparable GAAP measure:

---

| | | |
|:---|:---|:---|
| | **Four Quarters Ended** | **Four Quarters Ended** |
| | **March 31, 2026** | **March 31, 2025** |
| Net income attributable to common shareholder | $1955 | $1705 |
| Adjustment - impairment charge<sup>(a)</sup> |  | 320 |
| Net income attributable to common shareholder - adjusted | $1955 | $2025 |

---

______________

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*(a)This impairment charge was to write down our SAIC-GMAC equity investment to its fair value.*

***Return on Average Common Equity*** Return on average common equity is a generally accepted accounting principles (GAAP) measure widely used to measure earnings in relation to invested capital. We calculate return on average common equity as net income attributable to common shareholder divided by average common equity. Our return on average common equity increased to 14.1% for the four quarters ended March 31, 2026 from 12.5% for the four quarters ended March 31, 2025, primarily due to the $320 million impairment charge on our SAIC-GMAC equity investment recorded in the three months ended December 2024.

***Return on Average Tangible Common Equity - adjusted*** We use return on average tangible common equity - adjusted, a non-GAAP measure, to measure our contribution to GM's enterprise profitability and cash flows. We calculate average tangible common equity - adjusted as net income attributable to common shareholder - adjusted divided by average tangible common equity. Our return on average tangible common equity - adjusted decreased to 15.4% for the four quarters ended March 31, 2026 from 16.3% for the four quarters ended March 31, 2025.

The following table presents our reconciliation of return on average tangible common equity - adjusted to return on average common equity, the most directly comparable GAAP measure:

---

| | | |
|:---|:---|:---|
| | **Four Quarters Ended** | **Four Quarters Ended** |
| | **March 31, 2026** | **March 31, 2025** |
| Net income attributable to common shareholder - adjusted | $1955 | $2025 |
| Average equity | $15816 | $15599 |
| Less: average preferred equity | (1969) | (1969) |
| Average common equity | 13847 | 13631 |
| Less: average goodwill and intangible assets | (1177) | (1175) |
| Average tangible common equity | $12670 | $12456 |
| Return on average common equity | 14.1% | 12.5% |
| Return on average tangible common equity - adjusted | 15.4% | 16.3% |

---

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

Our calculation of these non-GAAP measures may not be comparable to similarly titled measures of other companies due to potential differences between companies in the method of calculation. As a result, the use of these non-GAAP measures has limitations and should not be considered superior to, in isolation from, or as a substitute for, related U.S. GAAP measures. These non-GAAP measures allow investors the opportunity to measure and monitor our performance against our externally communicated targets and evaluate the investment decisions being made by management to improve our return on average tangible common equity. Management uses these measures in its financial, investment and operational decision-making processes, for internal reporting and as part of its forecasting and budgeting processes. For these reasons, we believe these non-GAAP measures are useful to our investors.

**Critical Accounting Estimates**

The preparation of condensed financial statements in conformity with accounting principles generally accepted in the U.S. requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of contingent assets and liabilities as of the date of the financial statements and the reported amount of revenue and expenses in the periods presented. Actual results could differ from those estimates, due to inherent uncertainties in making estimates, and those differences may be material. The critical accounting estimates that affect the condensed consolidated financial statements and the judgment and assumptions used are consistent with those described in Item 7. "Management's Discussion and Analysis of Financial Condition and Results of Operations" in our 2025 Form 10-K.

**Forward-Looking Statements**

This report contains several "forward-looking statements." Forward-looking statements are those that use words such as "believe," "expect," "intend," "plan," "may," "likely," "should," "estimate," "continue," "future" or "anticipate" and other comparable expressions. These words indicate future events and trends. Forward-looking statements are our current views with respect to future events and financial performance. These forward-looking statements are subject to many assumptions, risks and uncertainties that could cause actual results to differ significantly from historical results or from those anticipated by us. The most significant risks are detailed from time to time in our filings and reports with the SEC, including our 2025 Form 10-K and Part II, Item 1A. Risk Factors. It is advisable not to place undue reliance on our forward-looking statements. We undertake no obligation to, and do not, publicly update or revise any forward-looking statements, except as required by federal securities laws, whether as a result of new information, future events or otherwise.

The following factors are among those that may cause actual results to differ materially from historical results or from the forward-looking statements:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• GM's ability to produce and sell new vehicles that we finance in the markets we serve;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• uncertainty regarding the impact of tariffs on the automotive industry, GM's business, and the general economy, including the financial health of our borrowers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• dealers' effectiveness in marketing our financial products to consumers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the viability of GM-franchised dealers that are commercial loan customers;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the sufficiency, availability and cost of sources of financing, including credit facilities, securitization programs and secured and unsecured debt issuances;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the adequacy of our underwriting criteria for loans and leases and the level of net charge-offs, delinquencies and prepayments on the loans and leases we purchase or originate;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to effectively manage capital or liquidity consistent with evolving business, operational or financing needs, risk management standards and regulatory or supervisory requirements;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the adequacy of our allowance for loan losses on our finance receivables;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to maintain and expand our market share due to competition in the automotive finance industry from banks, credit unions, independent finance companies and other captive automotive finance subsidiaries;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in the automotive industry that result in a change in demand for vehicles and related vehicle financing;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the effect, interpretation or application of new or existing laws, regulations, accounting pronouncements, court decisions, legal proceedings, governmental investigations and other proceedings;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• adverse determinations with respect to the application of existing laws, or the results of any audits from tax authorities, as well as changes in tax laws and regulations, supervision, enforcement and licensing across various jurisdictions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• the prices at which used vehicles are sold in the wholesale auction markets;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• vehicle return rates, our ability to estimate residual value at lease inception and the residual value performance on vehicles we lease;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• interest rate fluctuations and certain related derivatives exposure, including risks from our hedging activities;

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our joint ventures in China, which we cannot operate solely for our benefit and over which we have limited control;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to attract and retain qualified employees;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• pandemics, epidemics, disease outbreaks and other public health crises;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• our ability to secure private data, proprietary information, manage risks related to security breaches, cyberattacks and other disruptions to networks and systems owned or maintained by us or third parties and comply with enterprise data regulations in all key market regions;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• foreign currency exchange rate fluctuations and other risks applicable to our operations outside of the U.S.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in tax regulations and earnings forecasts could prevent full utilization of available tax incentives and tax credits;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• changes in local, regional, national or international economic, social or political conditions; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• impact and uncertainties related to climate-related events and climate change legislation.

If one or more of these risks or uncertainties materialize, or if underlying assumptions prove incorrect, our actual results may vary materially from those expected, estimated or projected.

**Available Information** 

Our internet website is www.gmfinancial.com. Our website contains detailed information about us and our subsidiaries. Our Investor Center website at https://investor.gmfinancial.com contains a significant amount of information about our Company, including financial and other information for investors. We encourage the public to visit our website, as we frequently update and post new information about the Company on our website, and it is possible that this information could be deemed to be material information. Our website and information included in or linked to our website are not part of this Quarterly Report on Form 10-Q.

Our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K, as well as any amendments to those reports, are available free of charge on our website as soon as reasonably practicable after they are electronically filed with or furnished to the SEC. These reports can also be found on the SEC website at www.sec.gov.

**Item 3. Quantitative and Qualitative Disclosures About Market Risk**

There have been no material changes in our exposure to market risk since December 31, 2025. Refer to Item 7A. - "Quantitative and Qualitative Disclosures About Market Risk" in our 2025 Form 10-K.

**Item 4. Controls and Procedures**

**Disclosure Controls and Procedures** We maintain disclosure controls and procedures designed to provide reasonable assurance that information required to be disclosed in reports filed under the Securities Exchange Act of 1934, as amended (Exchange Act), is recorded, processed, summarized and reported within the specified time periods and accumulated and communicated to our management, including our principal executive officer (CEO) and principal financial officer (CFO), as appropriate, to allow timely decisions regarding required disclosures.

Our management, with the participation of our CEO and CFO, evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) or 15d-15(e) promulgated under the Exchange Act) as of March 31, 2026, as required by paragraph (b) of Rules 13a-15 or 15d-15. Based on this evaluation, our CEO and CFO concluded that our disclosure controls and procedures were effective at the reasonable assurance level as of March 31, 2026.

**Changes in Internal Control over Financial Reporting** There have not been any changes in our internal control over financial reporting during the three months ended March 31, 2026, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

**PART II**

**Item 1. Legal Proceedings**

Refer to <u>[Note 10](#i79bc4ce500a44a76b6decee91cf69e46_58)</u> to our condensed consolidated financial statements for information relating to legal proceedings.

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**Item 1A. Risk Factors** 

We face a number of significant risks and uncertainties in connection with our operations. Our business and the results of our operations and financial condition could be materially adversely affected by these risk factors. There have been no material changes to the Risk Factors disclosed in our 2025 Form 10-K, other than as set forth below in this Item 1A.

***Geopolitical instability and related disruptions to global energy markets could adversely affect global economic conditions and our business*.** 

Ongoing geopolitical tensions in the Middle East, including the conflict involving Iran, have contributed to volatility in global energy markets and elevated fuel prices, which may increase the overall cost of vehicle ownership and negatively affect consumer demand. Higher fuel and household costs may place additional financial stress on borrowers and adversely impact credit performance, particularly during periods of economic softness. Energy-driven inflationary pressures may also contribute to broader macroeconomic volatility, which, in turn, could adversely affect vehicle sales activity, portfolio performance, and funding conditions for auto finance companies such as ours. Further, supply chain disruptions, transaction restrictions, and increased costs for raw materials and energy could adversely affect GM's business, which could have a material impact on our business and financial results.

**Item 6. Exhibits**

---

| | | |
|:---|:---|:---|
| 3.1 | <u>[Third Amended and Restated Certificate of Formation of General Motors Financial Company, Inc., incorporated herein by reference to Exhibit 3.1 to the Quarterly Report on Form 10-Q filed on October 21, 2025.](https://www.sec.gov/Archives/edgar/data/804269/000080426925000050/gmfex31thirdamendedandrest.htm)</u> | Incorporated by Reference |
| 3.2 | <u>[Third Amended and Restated Bylaws of General Motors Financial Company, Inc., incorporated herein by reference to Exhibit 3.2 to the Annual Report on Form 10-K, filed on February 10, 2021](https://www.sec.gov/Archives/edgar/data/804269/000080426921000005/gmfex32-thirdamendedandres.htm)</u>. | Incorporated by Reference |
| 4.1 | <u>[Sixty-First Supplemental Indenture, dated January 8, 2026, between General Motors Financial Company, Inc. and Computershare Trust Company, N.A., as trustee, with respect to General Motors Financial Company, Inc.'s 4.600% Senior Notes due 2031 and 5.450% Senior Notes due 2036, incorporated herein by reference to Exhibit 4.2 to the Current Report on Form 8-K, filed on January 8, 2026.](https://www.sec.gov/Archives/edgar/data/804269/000119312526007236/d26259dex42.htm)</u> | Incorporated by Reference |
| 10.1† | <u>[Eighth Amended and Restated 364-Day Revolving Credit Agreement, dated as of March 23, 2026, among General Motors Company, General Motors Financial Company, Inc., the subsidiary borrowers from time to time parties thereto, the several lenders from time to time parties thereto, JPMorgan Chase Bank, N.A., as administrative agent, and Citibank, N.A., as syndication agent, incorporated herein by reference to Exhibit 10.1 to the Current Report on Form 8-K, filed on March 23, 2026.](https://www.sec.gov/Archives/edgar/data/804269/000119312526119691/d121370dex101.htm)</u> | Incorporated by Reference |
| 31.1 | <u>[Section 302 Certification of the Chief Executive Officer](gmfex311certificationofthe.htm)</u>. | Filed Herewith |
| 31.2 | <u>[Section 302 Certification of the Chief Financial Officer](gmfex312certificationofthe.htm)</u>. | Filed Herewith |
| 32 | <u>[Certification Pursuant to 18 U.S.C. Section 1350, As Adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002](gmfex32certificationofperi.htm)</u>. | Furnished Herewith |
| 101 | The following financial information from the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, formatted in Inline Extensible Business Reporting Language (iXBRL) includes: (i) the Condensed Consolidated Balance Sheets, (ii) the Condensed Consolidated Statements of Income, (iii) the Condensed Consolidated Statements of Comprehensive Income, (iv) the Condensed Consolidated Statements of Shareholders' Equity, (v) the Condensed Consolidated Statements of Cash Flows, and (vi) Notes to the Condensed Consolidated Financial Statements | Filed Herewith |
| 104 | The cover page from the Company's Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, formatted as iXBRL and contained in Exhibit 101 | Filed Herewith |

---

_________

† Portions of this exhibit have been omitted pursuant to Rule 601(b)(10) of Regulation S-K. The omitted information is not material and would likely cause competitive harm to the registrant if publicly disclosed.

\* \* \* \* \* \* \*

------

<u>[**Table of Contents**](#i79bc4ce500a44a76b6decee91cf69e46_7)</u>

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**SIGNATURE**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
| | | | General Motors Financial Company, Inc. |
| | | | (Registrant) |
| Date: | April 28, 2026 | By: | /S/&nbsp;&nbsp;&nbsp;&nbsp;RICHARD A. GOKENBACH, JR. |
|  |  |  | **Richard A. Gokenbach, Jr.** |
|  |  |  | **Executive Vice President and** |
|  |  |  | **Chief Financial Officer** |

---

## Exhibit 31.1

Exhibit 31.1

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**CERTIFICATION**

I, Susan B. Sheffield, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of General Motors Financial Company, Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 28, 2026

---

| |
|:---|
| /s/ SUSAN B. SHEFFIELD |
| **Susan B. Sheffield** |
| **President and Chief Executive Officer** |

---

## Exhibit 31.2

Exhibit 31.2

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**CERTIFICATION**

I, Richard A. Gokenbach, Jr., certify that:

&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of General Motors Financial Company, Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: April 28, 2026

---

| |
|:---|
| /s/ RICHARD A. GOKENBACH, JR. |
| **Richard A. Gokenbach, Jr.** |
| **Executive Vice President and Chief Financial Officer** |

---

## Ex-32

Exhibit 32

**GENERAL MOTORS FINANCIAL COMPANY, INC.**

**CERTIFICATION PURSUANT TO** 

**18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO**

**SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002**

In connection with the Quarterly Report of General Motors Financial Company, Inc. (the "Company") on Form 10-Q for the quarterly period ended March 31, 2026 as filed with the Securities and Exchange Commission on the date hereof (the "Report"), each of the undersigned officers of the Company certifies, pursuant to 18 U.S.C. § 1350, as adopted pursuant to § 906 of the Sarbanes-Oxley Act of 2002, that to the best of such officer's knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

Date: April 28, 2026

---

| |
|:---|
| /s/ SUSAN B. SHEFFIELD |
| **Susan B. Sheffield** |
| **President and Chief Executive Officer** |

---

---

| |
|:---|
| /s/ RICHARD A. GOKENBACH, JR. |
| **Richard A. Gokenbach, Jr.** |
| **Executive Vice President and Chief Financial Officer** |

---

<br>