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Table of Contents

The following table summarizes GM Financial's interest rate sensitive assets and liabilities, excluding derivatives, by year of expected maturity and the fair
value of those assets and liabilities at December 31, 2014 (dollars in millions):








Retail finance receivables
Principal amounts $ 10,440
$ 7,336
$ 4,551
$ 2,308
$ 968
$ 382
$ 25,541
Weighted-average annual percentage rate 10.26%
10.45%
10.56%
10.82%
11.04%
11.21%
Commercial finance receivables
Principal amounts $ 7,333
$ 79
$ 69
$ 87
$ 76
$ 51
$ 7,565
Weighted-average annual percentage rate 6.17%
4.63%
4.41%
4.36%
4.38%
4.67%

Secured Debt:
Credit facilities
Principal amounts $ 4,532
$ 1,593
$ 757
$ 141
$ 17
$ —
$ 6,991
Weighted-average interest rate 4.36%
5.92%
6.34%
8.63%
8.87%
—%
Securitization notes
Principal amounts $ 7,348
$ 5,703
$ 3,596
$ 1,190
$ 354
$ —
$ 18,237
Weighted-average interest rate 1.94%
1.86%
2.04%
2.50%
3.06%
—%
Unsecured Debt:
Senior notes
Principal amounts $ —
$ 1,000
$ 2,795
$ 1,250
$ 1,405
$ 2,000
$ 8,707
Weighted-average interest rate —%
2.75%
3.56%
4.65%
2.80%
4.33%
Credit facilities and other unsecured debt
Principal amounts $ 2,611
$ 881
$ 107
$ 85
$ 84
$ —
$ 3,772
Weighted-average interest rate 10.33%
9.70%
5.64%
5.14%
5.14%
—%
GM Financial estimates the realization of finance receivables in future periods using discount rate, prepayment and credit loss assumptions similar to its
historical experience. Credit facilities and securitization notes payable amounts have been classified based on expected payoff. Senior notes and convertible
senior notes principal amounts have been classified based on maturity.

GM Financial is exposed to foreign currency risk due to the translation and remeasurement of the results of certain international operations into U.S.
Dollars as part of the consolidation process. Fluctuations in foreign currency exchange rates can therefore create volatility in the results of operations and
may adversely affect GM Financial's financial condition.
GM Financial primarily finances its receivables and leased assets with debt in the same currency. When a different currency is used GM Financial may use
foreign currency swaps to convert substantially all of its foreign currency debt obligations to the local currency of the receivables and lease assets to
minimize any impact to earnings.
GM Financial had foreign currency swaps in asset positions with notional amounts of $1.5 billion and $1.6 billion and in liability positions with notional
amounts of $0 and $1.1 billion at December 31, 2015 and 2014. The fair value of these derivative financial instruments was insignificant.
The following table summarizes the amounts of GM Financial's foreign currency translation and transaction and remeasurement losses (dollars in millions):



Foreign currency translation losses recorded in Accumulated other comprehensive loss $ (669)
$ (430)
Losses resulting from foreign currency transactions and remeasurements recorded in earnings $ (58)
$ (170)
Gains resulting from foreign exchange swaps recorded in earnings 42
163
Net losses resulting from foreign currency exchange recorded in earnings $ (16)
$ (7)
48