Exhibit 99.1
GM Financial Automobile Leasing Trust 2022-2
4.34% Exchange Note
Class A-1 1.52700% Asset Backed Notes
Class A-2 2.93% Asset Backed Notes
Class A-3 3.42% Asset Backed Notes
Class A-4 3.54% Asset Backed Notes
Class B 4.02% Asset Backed Notes
Class C 4.33% Asset Backed Notes
Class D 0.00% Asset Backed Notes
Servicer’s Certificate
| Beginning of Period: | 12/01/22 |
| End of Period: | 12/31/22 |
| Number of days in Interest Period (Actual/360): | 31 |
| Number of days in Collection Period: | 31 |
| Report Due Date: | 01/18/23 |
| Distribution Date: | 01/20/23 |
| Transaction Month: | 8 |
| Original Agg. | ||||||||||||
| 2022-2 Designated Pool | Units | Start Date | Closing Date | Securitization Value | ||||||||
| 53,272 | 03/30/2022 | 05/11/2022 | $ | 1,600,510,650 | ||||||||
| Total | 53,272 | $ | 1,600,510,650 | |||||||||
RECONCILIATION OF 2022-2 DESIGNATED POOL AGGREGATE SECURITIZATION VALUE
| {1} | Beginning of period Aggregate Securitization Value | {1} | $ | 1,327,719,631 | ||||||||
| {2} | Reduction in Agg. Securitization Value due to payments | {2} | 13,972,719 | |||||||||
| {3} | Reduction in Agg. Securitization Value due to Defaulted Leases | {3} | 908,307 | |||||||||
| {4} | Reduction in Agg. Securitization Value due to early terminations, dealer buyouts, cancellations, repurchases | {4} | 17,631,608 | |||||||||
| {5} | Other adjustments | {5} | 0 | |||||||||
| {6} | Total change in Agg. Securitization Value | {6} | 32,512,634 | |||||||||
| {7} | End of period Aggregate Securitization Value | {7} | $ | 1,295,206,997 | ||||||||
| {8} | Pool Factor | {8} | 80.924610 | % |
RECONCILIATION OF 2022-2 EXCHANGE NOTE
| {9} | Original Exchange Note Balance | {9} | $ | 1,502,000,000 | ||||
| {10} | Beginning of period Exchange Note Balance | {10} | $ | 1,229,208,981 | ||||
| {11} | Exchange Note Principal Payment Amount | {11} | 32,512,634 | |||||
| {12} | End of period Exchange Note Balance | {12} | $ | 1,196,696,347 | ||||
| {13} | Note Pool Factor | {13} | 79.673525 | % |
1
RECONCILIATION OF THE ASSET BACKED NOTES
| Class A-1 | Class A-2 | Class A-3 | Class A-4 | |||||||||||||||||
| {14} | Original Note Balance | {14} | $ | 216,290,000 | $ | 535,980,000 | $ | 424,320,000 | $ | 121,420,000 | ||||||||||
| {15} | Beginning of period Note Balance | {15} | $ | 0 | $ | 455,481,119 | $ | 424,320,000 | $ | 121,420,000 | ||||||||||
| {16} | Noteholders’ Principal Distributable Amount | {16} | 0 | 32,512,634 | 0 | 0 | ||||||||||||||
| {17} | Noteholders’ Accelerated Principal Amount | {17} | 0 | 0 | 0 | 0 | ||||||||||||||
| {18} | Aggregate Principal Parity Amount | {18} | 0 | 0 | 0 | 0 | ||||||||||||||
| {19} | Matured Principal Shortfall | {19} | 0 | 0 | 0 | 0 | ||||||||||||||
| {20} | End of period Note Balance | {20} | $ | 0 | $ | 422,968,485 | $ | 424,320,000 | $ | 121,420,000 | ||||||||||
| {21} | Note Pool Factor | {21} | 0.000000 | % | 78.914975 | % | 100.000000 | % | 100.000000 | % | ||||||||||
| Class B | Class C | Class D | TOTAL | |||||||||||||||||
| {22} | Original Note Balance | {22} | $ | 69,620,000 | $ | 64,820,000 | $ | 40,010,000 | $ | 1,472,460,000 | ||||||||||
| {23} | Beginning of period Note Balance | {23} | $ | 69,620,000 | $ | 64,820,000 | $ | 40,010,000 | $ | 1,175,671,119 | ||||||||||
| {24} | Noteholders’ Principal Distributable Amount | {24} | 0 | 0 | 0 | 32,512,634 | ||||||||||||||
| {25} | Noteholders’ Accelerated Principal Amount | {25} | 0 | 0 | 0 | 0 | ||||||||||||||
| {26} | Aggregate Principal Parity Amount | {26} | 0 | 0 | 0 | 0 | ||||||||||||||
| {27} | Matured Principal Shortfall | {27} | 0 | 0 | 0 | 0 | ||||||||||||||
| {28} | End of period Note Balance | {28} | $ | 69,620,000 | $ | 64,820,000 | $ | 40,010,000 | $ | 1,143,158,485 | ||||||||||
| {29} | Note Pool Factor | {29} | 100.000000 | % | 100.000000 | % | 100.000000 | % | 77.635962 | % | ||||||||||
EXCHANGE NOTE MONTHLY PRINCIPAL PAYMENT AND INTEREST CALCULATIONS
| Principal payment calculation: | ||||||||||||
| {30} | Beginning of period Designated Pool Balance | {30} | $ | 1,327,719,631 | ||||||||
| {31} | Ending Designated Pool Balance | {31} | 1,295,206,997 | |||||||||
| {32} | Unpaid prior Exchange Note Principal Payment Amount | {32} | 0 | |||||||||
| {33} | Sum of {31} + {32} | {33} | 1,295,206,997 | |||||||||
| {34} | Exchange Note Principal Payment Amount {30} - {33} | {34} | $ | 32,512,634 | ||||||||
| Interest calculation: | ||||||||||||||||||||||
| Beg Note Balance | Interest Carryover | Interest Rate | Days | Days Basis | Interest | |||||||||||||||||
| {35} | $ | 1,229,208,981 | $ | 0 | 4.34 | % | 30 | 30/360 | $ | 4,445,640 | ||||||||||||
2
RECONCILIATION OF EXCHANGE NOTE COLLECTION ACCOUNT
| Additions: | ||||||||||||
| {36} | 2022-2 Designated Pool Collections (net of Liquidation Proceeds and fees) | {36} | $ | 21,554,360 | ||||||||
| {37} | Net Liquidation Proceeds collected during period | {37} | 21,616,431 | |||||||||
| {38} | Investment Earnings | {38} | 147,657 | |||||||||
| {39} | Investment Earnings - transferred to Indenture Note Collection Account | {39} | (147,657 | ) | ||||||||
| {40} | Deposit from Servicer | {40} | 0 | |||||||||
| {41} | Total Additions: | {41} | 43,170,791 | |||||||||
| Distributions: | ||||||||||||
| {42} | To the Servicer, Designated Pool Servicing Fee | {42} | 1,106,433 | |||||||||
| {43} | To the 2022-2 Exchange Noteholder, the Exchange Note Interest Payment Amount | {43} | 4,445,640 | |||||||||
| {44} | To the 2022-2 Exchange Noteholder, the Exchange Note Principal Payment Amount | {44} | 32,512,634 | |||||||||
| {45} | To the 2022-2 Exchange Noteholder, any funds available to pay obligations pursuant to Indenture Section 8.3 (a)(i) through (xvii) | {45} | 0 | |||||||||
| {46} | To the 2022-2 Exchange Noteholder, all remaining funds to be applied as Excess Exchange Note Payments | {46} | 5,106,084 | |||||||||
| {47} | Total Distributions: | {47} | $ | 43,170,791 | ||||||||
NOTEHOLDERS’ MONTHLY PRINCIPAL PAYMENT AND INTEREST CALCULATIONS
| Noteholders’ Principal Distributable calculation: | ||||||||||||||||||||
| {48} | Beginning Agg. Securitization Value | {48} | $ | 1,327,719,631 | ||||||||||||||||
| {49} | Ending Agg. Securitization Value | {49} | 1,295,206,997 | |||||||||||||||||
| {50} | Principal Distributable Amount {48} - {49} | {50} | 32,512,634 | |||||||||||||||||
| {51} | Noteholders’ Principal Carryover Amount | {51} | 0 | |||||||||||||||||
| {52} | Principal Distributable Amount + Noteholders’ Principal Carryover Amount | {52} | 32,512,634 | |||||||||||||||||
| {53} | Amount required to reduce Outstanding Amount after giving effect to distributions made pursuant to Indenture Section 8.3 (i) through (xiii) to the Required Pro Forma Note Balance | {53} | 32,512,634 | |||||||||||||||||
| {54} | Noteholders’ Principal Distributable Amount Lessor of {52} and {53} | {54} | $ | 32,512,634 | ||||||||||||||||
| Noteholders’ Interest Distributable calculation: | ||||||||||||||||||||||
| Class | Beg Note Balance | Interest Carryover | Interest Rate | Days | Days Basis | Interest | ||||||||||||||||
| {55} | Class A-1 | $ | 0 | $ | 0 | 1.52700 | % | 31 | Actual/360 | $ | 0 | |||||||||||
| {56} | Class A-2 | $ | 455,481,119 | 0 | 2.93 | % | 30 | 30/360 | 1,112,134 | |||||||||||||
| {57} | Class A-3 | $ | 424,320,000 | 0 | 3.42 | % | 30 | 30/360 | 1,209,312 | |||||||||||||
| {58} | Class A-4 | $ | 121,420,000 | 0 | 3.54 | % | 30 | 30/360 | 358,189 | |||||||||||||
| {59} | Class B | $ | 69,620,000 | 0 | 4.02 | % | 30 | 30/360 | 233,227 | |||||||||||||
| {60} | Class C | $ | 64,820,000 | 0 | 4.33 | % | 30 | 30/360 | 233,893 | |||||||||||||
| {61} | Class D | $ | 40,010,000 | 0 | 0.00 | % | 30 | 30/360 | 0 | |||||||||||||
3
RECONCILIATION OF INDENTURE COLLECTION ACCOUNT
| Available Funds: | ||||||||||||
| {62} | 2022-2 Exchange Note Collections | {62} | $ | 42,064,358 | ||||||||
| {63} | Investment Earnings | {63} | 0 | |||||||||
| {64} | Investment Earnings - transferred from Exchange Note Collection Account | {64} | 147,657 | |||||||||
| {65} | Investment Earnings - and amounts released from Reserve Account pursuant to Section 2.14(b)(ii) of Servicing Supplement | {65} | 13,212 | |||||||||
| {66} | Optional Purchase Price | {66} | 0 | |||||||||
| {67} | Indenture Section 5.4 disposition of Collateral | {67} | 0 | |||||||||
| {68} | Available Funds: | {68} | 42,225,227 | |||||||||
| {69} | Reserve Account Withdrawal Amount | {69} | 0 | |||||||||
| {70} | Total Distributable Funds: | {70} | 42,225,227 | |||||||||
| Distributions: | ||||||||||||
| {71} | To the Successor Servicer, unpaid transition expenses, pro rata | {71} | 0 | |||||||||
| {72} | To the Indenture Trustee, any accrued and unpaid fees & expenses, pro rata | {72} | 417 | |||||||||
| {73} | To the Issuer Owner Trustee, any accrued and unpaid fees & expenses, pro rata | {73} | 208 | |||||||||
| {74} | To the Asset Representations Reviewer, any accrued and unpaid fees & expenses, pro rata | {74} | 0 | |||||||||
| {75} | Class A-1 Noteholders’ Interest Distributable Amount pari passu | {75} | 0 | |||||||||
| {76} | Class A-2 Noteholders’ Interest Distributable Amount pari passu | {76} | 1,112,134 | |||||||||
| {77} | Class A-3 Noteholders’ Interest Distributable Amount pari passu | {77} | 1,209,312 | |||||||||
| {78} | Class A-4 Noteholders’ Interest Distributable Amount pari passu | {78} | 358,189 | |||||||||
| {79} | Class A Noteholders’ Principal Parity Amount or Matured Principal Shortfall | {79} | 0 | |||||||||
| {80} | Class B Noteholders’ Interest Distributable Amount | {80} | 233,227 | |||||||||
| {81} | Class B Noteholders’ Principal Parity Amount or Matured Principal Shortfall | {81} | 0 | |||||||||
| {82} | Class C Noteholders’ Interest Distributable Amount | {82} | 233,893 | |||||||||
| {83} | Class C Noteholders’ Principal Parity Amount or Matured Principal Shortfall | {83} | 0 | |||||||||
| {84} | Class D Noteholders’ Interest Distributable Amount | {84} | 0 | |||||||||
| {85} | Class D Noteholders’ Principal Parity Amount or Matured Principal Shortfall | {85} | 0 | |||||||||
| {86} | Noteholders’ Principal Distributable Amount | {86} | 32,512,634 | |||||||||
| {87} | To the Reserve Account, the Reserve Amount Required Amount | {87} | 0 | |||||||||
| {88} | To the Noteholders, the Accelerated Principal Amount (as calculated below) | {88} | 0 | |||||||||
| {89} | To the Successor Servicer, any amounts in excess of the caps set forth, pro rata | {89} | 0 | |||||||||
| {90} | To the Indenture Trustee, any amounts in excess of the caps set forth, pro rata | {90} | 0 | |||||||||
| {91} | To the Asset Representations Reviewer, any amounts in excess of the caps set forth, pro rata | {91} | 0 | |||||||||
| {92} | To the Issuer Owner Trustee, any amounts in excess of the caps set forth, pro rata | {92} | 0 | |||||||||
| {93} | To the Issuer Trust Certificateholders, the aggregate amount remaining | {93} | 6,565,213 | |||||||||
| {94} | Total Distributions: | {94} | $ | 42,225,227 | ||||||||
4
PRINCIPAL PARITY AMOUNT CALCULATION
| Class | (X) Cumulative Note Balance | (Y) Aggregate Securitization Value | (I) Excess of (X) - (Y) | (II) Total Available Funds in Indenture Collection Account | Lesser of (I) or (II) | |||||||||||||||||
| {95} | Class A | $ | 1,001,221,119 | $ | 1,295,206,997 | $ | 0 | $ | 39,544,967 | $ | 0 | |||||||||||
| {96} | Class B | 1,070,841,119 | 1,295,206,997 | 0 | 39,311,740 | 0 | ||||||||||||||||
| {97} | Class C | 1,135,661,119 | 1,295,206,997 | 0 | 39,077,847 | 0 | ||||||||||||||||
| {98} | Class D | 1,175,671,119 | 1,295,206,997 | 0 | 39,077,847 | 0 | ||||||||||||||||
ACCELERATED PRINCIPAL AMOUNT CALCULATION
| {99} | Excess Total Available Funds | {99} | $ | 6,565,213 | ||||||||||||||||
| {100} | Beginning Note Balance | {100} | 1,175,671,119 | |||||||||||||||||
| {101} | Principal payments through Indenture Section 8.3 (a) (i) through (xv) | {101} | 32,512,634 | |||||||||||||||||
| {102} | Pro-Forma Note Balance | {102} | 1,143,158,485 | |||||||||||||||||
| {103} | Ending Aggregate Securitization Value | {103} | 1,295,206,997 | |||||||||||||||||
| {104} | 9.5% of Aggregate Securitization Value as of Cutoff ($152,048,512) | {104} | 152,048,512 | |||||||||||||||||
| {105} | Required Pro Forma Note Balance {103} - {104} | {105} | 1,143,158,485 | |||||||||||||||||
| {106} | Excess of Pro Forma Balance minus Required Pro Forma Balance {102} - {105} | {106} | 0 | |||||||||||||||||
| {107} | Lesser of Excess Total Available Funds and Excess of Pro Forma Note Balance | {107} | $ | 0 |
OVERCOLLATERALIZATION CALCULATIONS
| Exchange Note: | ||||||||||||
| {108} | Ending Aggregate Securitization Value | {108} | $ | 1,295,206,997 | ||||||||
| {109} | End of Period Note Balance | {109} | 1,196,696,347 | |||||||||
| {110} | Overcollateralization | {110} | 98,510,650 | |||||||||
| {111} | Overcollateralization % | {111} | 7.61 | % | ||||||||
| Asset Backed Notes: | ||||||||||||
| {112} | Ending Aggregate Securitization Value | {112} | 1,295,206,997 | |||||||||
| {113} | End of Period Note Balance | {113} | 1,143,158,485 | |||||||||
| {114} | Overcollateralization | {114} | 152,048,512 | |||||||||
| {115} | Overcollateralization % | {115} | 11.74 | % | ||||||||
5
RECONCILIATION OF 2022-2 CASH RESERVE ACCOUNT
| {116} | Specified Reserve Balance | {116} | $ | 4,001,277 | ||||||||
| {117} | Beginning of Period Reserve Account balance | {117} | $ | 4,001,277 | ||||||||
| {118} | Investment Earnings | {118} | 13,212 | |||||||||
| {119} | From the Indenture Collection Account, the Reserve Account Required Amount | {119} | 0 | |||||||||
| {120} | To the Indenture Collection Account, the Reserve Account Withdrawal Amount | {120} | 0 | |||||||||
| {121} | Total Reserve balance available: | {121} | 4,014,489 | |||||||||
| {122} | Specified Reserve Balance | {122} | 4,001,277 | |||||||||
| {123} | Release Excess Cash to Indenture Collection Available Funds | {123} | 13,212 | |||||||||
| {124} | End of period Reserve Account balance | {124} | $ | 4,001,277 |
ASSET REPRESENTATIONS REVIEW DELINQUENCY TRIGGER
| Dollars | Percentage | |||||||||||
| {125} | Receivables with Scheduled Payment delinquent 61 days or more | {125} | $ | 1,376,126 | 0.11 | % | ||||||
| {126} | Compliance (Trigger Violation is a Delinquency Rate Greater Than 1.40%) | {126} | Yes | |||||||||
| By: | /s/ Ellen Billings | |
| Name: | Ellen Billings | |
| Title: | Senior Vice President, Controller – North America | |
| Date: | January 17, 2023 |
6
GM Financial
GMALT 2022-2
Supplemental Monthly Data
December 31, 2022
| Aggregate Securitization Value | Residual Value | |||||||
| Beginning of Period | $ | 1,327,719,631 | $ | 1,054,252,585 | ||||
| Change | (32,512,634 | ) | (16,480,565 | ) | ||||
| End of Period | $ | 1,295,206,997 | $ | 1,037,772,020 | ||||
| Residual Value as % of Agg. Securitization Value | 80.12 | % | ||||||
Delinquency
| Leases with scheduled payment delinquent | Number of Leases | Agg. Securitization Value | Percentage(1) | |||||||||
| 0 - 30 days | 46,457 | 1,287,979,158 | 99.44 | % | ||||||||
| 31 - 60 days | 194 | 5,851,713 | 0.45 | % | ||||||||
| 61 - 90 days | 34 | 1,152,812 | 0.09 | % | ||||||||
| 91 - 120 days | 9 | 223,314 | 0.02 | % | ||||||||
| Total | 46,694 | 1,295,206,997 | 100.00 | % | ||||||||
Lease Terminations
| Current Period | Cumulative | |||||||||||||||
| Number of Leases | Agg. Securitization Value | Number of Leases | Agg. Securitization Value | |||||||||||||
| Retained vehicles by lessee | ||||||||||||||||
| Early terminations | 432 | 12,120,647 | 4,747 | 137,296,475 | ||||||||||||
| Standard terminations | 247 | 4,976,736 | 1,400 | 26,924,351 | ||||||||||||
| Total retained by lessee | 679 | 17,097,383 | 6,147 | 164,220,826 | ||||||||||||
| Returned Vehicles | ||||||||||||||||
| Early terminations | 9 | 164,099 | 26 | 487,317 | ||||||||||||
| Standard terminations | 18 | 370,127 | 52 | 1,013,620 | ||||||||||||
| Total returned to dealer | 27 | 534,226 | 78 | 1,500,937 | ||||||||||||
| Charged off leases / Repossessed vehicles | 35 | 908,307 | 352 | 9,560,540 | ||||||||||||
| Repurchases | 0 | 0 | 1 | 29,790 | ||||||||||||
| Other | 0 | 0 | 0 | 0 | ||||||||||||
| Total terminations | 741 | 18,539,916 | 6,578 | 175,312,093 | ||||||||||||
Lease Extensions/Deferments
| Current Period | ||||||||||||
| Number of Leases | Agg. Securitization Value | Percentage | ||||||||||
| Term Extensions | 337 | 6,566,563 | 0.49 | % | ||||||||
| Deferments | 16 | 651,502 | 0.05 | % | ||||||||
7
Net Credit (Gain) Loss
| Current Period | Cumulative | |||||||
| Agg. Securitized Value of early term defaults | 908,307 | 9,560,540 | ||||||
| less: Sales proceeds | 1,287,278 | 11,330,486 | ||||||
| less: Excess wear and excess mileage received | 0 | 0 | ||||||
| less: Other amounts received | 0 | 0 | ||||||
| Net Credit (Gain) Loss | (378,971 | ) | (1,769,946 | ) | ||||
Residual (Gain) Loss on Returned Vehicles
| Agg. Securitized Value of returned vehicles sold by Servicer | 530,667 | 1,496,169 | ||||||
| add: Reimbursement of outstanding residual advance | N/A | N/A | ||||||
| less: Sales proceeds | 723,879 | 2,109,213 | ||||||
| less: Excess wear and excess mileage received | 2,946 | 6,164 | ||||||
| less: Other recovery amounts | 0 | 0 | ||||||
| Residual (Gain) Loss | (196,158 | ) | (619,208 | ) |
| Current Period | Prev. Month | |||||||
| Prepay Speed | 0.4875 | % | 0.5782 | % | ||||
| Return Rate based on Scheduled to Terminate(2) | 4.5685 | % | 4.2629 | % | ||||
| Return Rate based on Terminated Leases(3) | 3.6437 | % | 2.9925 | % | ||||
| (1) | Percentages may not add to 100% due to rounding. |
| (2) | Percentage of total number of vehicles returned to dealer over number of vehicles scheduled to terminate per month. |
| (3) | Percentage of total number of vehicles returned to dealer over number of vehicles terminated per month. |
8