General Motors 2011 Annual Report Download - page 72
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GENERAL MOTORS COMPANY AND SUBSIDIARIES
The following table summarizes GM Financial’s interest rate sensitive assets and liabilities by year of expected maturity and the
fair value of those assets and liabilities at December 31, 2011 (dollars in millions):
Years Ending December 31,
December 31,
2011
2012 2013 2014 2015 2016 Thereafter
Fair
Value
Assets
Finance receivables
Principal amounts ........................ $3,889 $2,571 $1,532 $ 946 $ 548 $ 265 $9,386
Weighted-average annual percentage rate ..... 15.19% 15.04% 14.87% 14.71% 14.52% 14.60%
Interest rate swap agreements
Notional amounts . . . . . . . . . . . . . . . . . . . . . . . . $ 485 $ 24 $ — $ — $ — $ — $ 2
Average pay rate ......................... 1.44% 1.17% — — — —
Average receive rate ...................... 0.43% 0.84% — — — —
Interest rate cap agreements
Notional amounts . . . . . . . . . . . . . . . . . . . . . . . . $ 252 $ 259 $ 382 $ 319 $ 135 $ 166 $ 5
Average strike rate ....................... 4.00% 3.94% 3.71% 3.71% 3.50% 3.11%
Liabilities
Credit facilities
Principal amounts ........................ $1,099 $ — $ — $ — $ — $ — $1,099
Weighted-average interest rate .............. 1.88% ———— —
Securitization notes
Principal amounts ........................ $3,164 $1,481 $1,022 $ 720 $ 422 $ 86 $6,946
Weighted-average interest rate .............. 2.94% 3.51% 4.05% 4.58% 5.18% 3.64%
Senior notes
Principal amounts . . . . . . . . . . . . . . . . . . . . . . . . $ — $ — $ — $ — $ — $ 500 $ 510
Weighted-average interest rate ..............—————6.75%
Convertible senior notes payable
Principal amounts ........................ $ — $ 1 $ — $ — $ — $ — $ 1
Weighted-average interest rate .............. — 2.13% — — — —
Interest rate swap agreements
Notional amounts . . . . . . . . . . . . . . . . . . . . . . . . $ 485 $ 24 $ — $ — $ — $ — $ 6
Average pay rate ......................... 1.44% 1.17% — — — —
Average receive rate ...................... 0.43% 0.84% — — — —
Interest rate cap agreements
Notional amounts . . . . . . . . . . . . . . . . . . . . . . . . $ 210 $ 259 $ 382 $ 319 $ 135 $ 166 $ 5
Average strike rate ....................... 4.05% 3.94% 3.71% 3.71% 3.50% 3.11%
70 General Motors Company 2011 Annual Report