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GM Financial reports full year and December quarter 2015 operating results

GM Financial reports full year and December quarter 2015 operating results

Published January 2016

GM Financial reported its full year and fourth quarter 2015 operating results today. Highlights included:

  • Full year net income of $646 million; December quarter net income of $131 million
  • Full year retail loan and lease originations of $37.7 billion; $9.8 billion for the December quarter
  • End of period earning assets of $57.7 billion
  • Available liquidity of $14.7 billion at year end

Detailed results from the quarter and the year are as follows:

  • Net income was $131 million for the quarter ended Dec. 31, 2015, compared to $59 million for the quarter ended Dec. 31, 2014. Earnings for the year ended Dec. 31, 2015, were $646 million, compared to $537 million for the year ended Dec. 31, 2014.
  • Retail loan originations were $4.4 billion for the quarter ended Dec. 31, 2015, compared to $4.7 billion for the quarter ended Sept. 30, 2015, and $4.0 billion for the quarter ended Dec. 31, 2014. Retail loan originations for the year ended Dec. 31, 2015, were $17.5 billion, compared to $15.1 billion for the year ended Dec. 31, 2014.
  • Outstanding balance of retail finance receivables was $29.1 billion at Dec. 31, 2015.
  • Operating lease originations were $5.4 billion for the quarter ended Dec. 31, 2015, compared to $6.2 billion for the quarter ended Sept. 30, 2015, and $2.1 billion for the quarter ended Dec. 31, 2014. Operating lease originations for the year ended Dec. 31, 2015, were $20.2 billion, compared to $6.2 billion for the year ended Dec. 31, 2014. Leased vehicles' net was $20.2 billion at Dec. 31, 2015.
  • The outstanding balance of commercial finance receivables was $8.4 billion at Dec. 31, 2015, compared to $8.1 billion at Dec. 31, 2014.
  • Annualized net credit losses were 2.2% of average retail finance receivables for the quarter ended Dec. 31, 2015, and 2014. For the year ended Dec. 31, 2015 and 2014, annualized retail net credit losses were 1.9%.
  • Total available liquidity was $14.7 billion at Dec. 31, 2015, consisting of $3.1 billion of cash and cash equivalents, $9.7 billion of borrowing capacity on unpledged eligible assets, $0.9 billion of borrowing capacity on committed unsecured lines of credit and $1.0 billion of borrowing capacity on a Junior Subordinated Revolving Credit Facility from GM.