Watch List: GENERAL MOTORS FINANCIAL COMPANY, INC

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GENERAL MOTORS FINANCIAL COMPANY, INC. publicized income from continuing operations of $450.00M for the quarter finished December 31, 2K17, compared to $242.00M for the quarter finished December 31, 2K16. Income from continuing operations for the year finished December 31, 2K17 was $1.10B, compared to $657.00M for the year finished December 31, 2K16. For the quarter and year finished December 31, 2K17 we recognized the effect of the Tax Cuts and Jobs Act and recorded a $240.00M tax benefit.

  • Full year income from continuing operations of $1.10B; December quarter income from continuing operations of $450.00M
  • Full year retail loan and lease originations of $45.30B; $10.20B for the December quarter
  • Earning assets of $86.00B at December 31, 2K17
  • Available liquidity of $17.90B at December 31, 2K17

Retail loan originations were $4.40B for the quarter finished December 31, 2K17, compared to $4.70B for the quarter finished September 30, 2K17, and $3.90B for the quarter finished December 31, 2K16. Retail loan originations for the year finished December 31, 2K17 were $19.90B, compared to $14.50B for the year finished December 31, 2K16. The outstanding balance of retail finance receivables was $32.80B at December 31, 2K17.

Operating lease originations were $5.80B for the quarter finished December 31, 2K17, compared to $6.50B for the quarter finished September 30, 2K17, and $5.90B for the quarter finished December 31, 2K16. Operating lease originations for the year finished December 31, 2K17 were $25.40B, compared to $25.20B for the year finished December 31, 2K16. Leased vehicles, net was $42.90B on December 31, 2K17.

The outstanding balance of commercial finance receivables was $10.30B at December 31, 2K17, compared to $9.50B at September 30, 2K17 and $7.90B at December 31, 2K16.

Retail finance receivables 31-60 days delinquent were 4.10 percent of the portfolio at December 31, 2K17 and 4.60 percent at December 31, 2K16. Accounts more than 60 days delinquent were 1.70 percent of the portfolio at December 31, 2K17 and 2.00 percent at December 31, 2K16.

Annualized net charge-offs were 2.20 percent of average retail finance receivables for the quarter finished December 31, 2K17 and 2.60 percent for the quarter finished December 31, 2K16. For the year finished December 31, 2K17, retail net charge-offs were 2.00 percent, compared to 2.40 percent for the year finished December 31, 2K16.

The Company had total available liquidity of $17.90B at December 31, 2K17, consisting of $4.30B of cash and cash equivalents, $12.50B of borrowing capacity on unpledged eligible assets, $0.10B of borrowing capacity on committed unsecured lines of credit and $1.00B of borrowing capacity on a Junior Subordinated Revolving Credit Facility from GM.

Earnings resulting from the Company’s equity investment in SAIC-GMAC, a joint venture that conducts auto finance operations in China, were $44.00M for the quarter finished December 31, 2K17 compared to $42.00M for the quarter finished December 31, 2K16. Earnings for the year finished December 31, 2K17 were $173.00M, compared to $151.00M for the year finished December 31, 2K16.

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