Financial Statements
Consolidated Balance Sheet
December 31, ($ in millions) |
2006 |
|||||
Assets |
||||||
Cash and cash equivalents |
$ |
15,459 |
$ |
15,424 |
||
Investment securities |
16,791 |
18,207 |
||||
Loans held for sale |
27,718 |
21,865 |
||||
Assets held for sale |
– |
19,030 |
||||
Finance receivables and loans, net of unearned income |
||||||
Consumer |
130,542 |
140,436 |
||||
Commercial |
43,904 |
44,574 |
||||
Allowance for credit losses |
(3,576 |
) |
(3,085 |
) |
||
Total finance receivables and loans, net |
170,870 |
181,925 |
||||
Investment in operating leases, net |
24,184 |
31,211 |
||||
Notes receivable from GM |
1,975 |
4,565 |
||||
Mortgage servicing rights |
4,930 |
4,015 |
||||
Premiums and other insurance receivables |
2,016 |
1,873 |
||||
Other assets |
23,496 |
22,442 |
||||
Total assets |
$ |
287,439 |
$ |
320,557 |
||
Liabilities |
||||||
Debt |
||||||
Unsecured |
$ |
113,500 |
$ |
133,560 |
||
Secured |
123,485 |
121,138 |
||||
Total debt |
236,985 |
254,698 |
||||
Interest payable |
2,592 |
3,057 |
||||
Liabilities related to assets held for sale |
– |
10,941 |
||||
Unearned insurance premiums and service revenue |
5,002 |
5,054 |
||||
Reserves for insurance losses and loss adjustment expenses |
2,630 |
2,534 |
||||
Accrued expenses and other liabilities |
22,659 |
18,224 |
||||
Deferred income taxes |
1,007 |
4,364 |
||||
Total liabilities |
270,875 |
298,872 |
||||
Preferred interests |
2,195 |
– |
||||
Equity |
||||||
Common stock and paid-in capital |
– |
5,760 |
||||
Members’ interest |
6,711 |
– |
||||
Retained earnings |
7,173 |
15,095 |
||||
Accumulated other comprehensive income |
485 |
830 |
||||
Total equity |
14,369 |
21,685 |
||||
Total liabilities, preferred interests and equity |
$ |
287,439 |
$ |
320,557 |
||
The Notes to the Consolidated Financial Statements are an integral part of these statements.