General Motors 2012 Annual Report Download - page 98

GENERAL MOTORS COMPANY AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued)
Credit Quality
Consumer Finance Receivables
Credit bureau scores, generally referred to as FICO scores, are determined during GM Financial’s automotive loan origination
process. The following table summarizes the credit risk profile of finance receivables by FICO score band, determined at origination
(dollars in millions):
December 31, 2012 December 31, 2011
FICO score less than 540 ......................................................... $ 3,011 $2,133
FICO score 540 to 599 ........................................................... 5,014 4,167
FICO score 600 to 659 ........................................................... 2,513 2,624
FICO score 660 and greater ....................................................... 455 756
Balance at end of period (a) ....................................................... $10,993 $9,680
(a) Composed of the sum of pre-acquisition consumer finance receivables - outstanding balance and post-acquisition consumer
finance receivables, net of fees.
Commercial Finance Receivables
GM Financial’s commercial finance receivables consist of dealer financings. A proprietary model is used to assign a risk rating to
each dealer. A credit review of each dealer is performed at least annually and, if necessary, the dealer’s risk rating is adjusted on the
basis of the review.
Delinquency
Consumer Finance Receivables
The following summarizes the contractual amount of consumer finance receivables, which is not materially different than the
recorded investment, more than 30 days delinquent, but not yet in repossession, and in repossession, but not yet charged off (dollars in
millions):
December 31, 2012 December 31, 2011
Amount
Percent of
Contractual
Amount Due Amount
Percent of
Contractual
Amount Due
Delinquent contracts .....................................................
31-to-60 days ............................................................ $672 6.1% $517 5.3%
Greater-than-60 days ...................................................... 230 2.1% 182 1.9%
Total consumer finance receivables more than 30 days delinquent .................. 902 8.2% 699 7.2%
In repossession .......................................................... 31 0.3% 27 0.3%
Total consumer finance receivables more than 30 days delinquent and in repossession . . $933 8.5% $726 7.5%
An account is considered delinquent if a substantial portion of a scheduled payment has not been received by the date such payment
was contractually due. Delinquencies may vary from period to period based upon the average age of the portfolio, seasonality within
the calendar year and economic factors.
General Motors Company 2012 ANNUAL REPORT 95