XML 73 R2.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Consolidated Statement of Comprehensive Income (USD $)
In Millions, except Share data, unless otherwise specified
 3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Financing revenue and other interest income        
Interest and fees on finance receivables and loans $ 1,691 $ 1,675 $ 3,369 $ 3,296
Interest on loans held-for-sale 36 86 109 170
Interest on trading assets 2 3 13 6
Interest and dividends on available-for-sale investment securities 86 106 170 209
Interest-bearing cash 18 15 32 27
Operating leases 579 598 1,119 1,253
Total financing revenue and other interest income 2,412 2,483 4,812 4,961
Interest expense        
Interest on deposits 184 171 370 337
Interest on short-term borrowings 60 87 135 179
Interest on long-term debt 1,068 1,331 2,245 2,737
Total interest expense 1,312 1,589 2,750 3,253
Depreciation expense on operating lease assets 318 176 611 446
Net financing revenue (loss) 782 718 1,451 1,262
Other revenue        
Servicing fees 216 341 526 698
Servicing asset valuation and hedge activities, net (73) (105) (64) (192)
Total servicing income, net 143 236 462 506
Insurance premiums and service revenue earned 359 399 734 798
Gain (loss) on mortgage and automotive loans, net 134 116 260 206
Gain (loss) on extinguishment of debt 0 (25) 0 (64)
Other gain (loss) on investments, net 66 92 156 176
Other income, net of losses 226 239 503 443
Total other revenue 928 1,057 2,115 2,065
Total net revenue (loss) 1,710 1,775 3,566 3,327
Provision for loan losses 29 50 169 163
Noninterest expense        
Compensation and benefits expense 389 415 864 839
Insurance losses and loss adjustment expenses 208 227 367 397
Other operating expenses 1,933 892 2,649 1,638
Total noninterest expense 2,530 1,534 3,880 2,874
Income (loss) from continuing operations before income tax expense (849) 191 (483) 290
Income tax expense (benefit) from continuing operations 15 83 79 13
Net income (loss) from continuing operations (864) 108 (562) 277
Income (loss) from discontinued operations, net of tax (34) 5 (26) (18)
Net income (loss) (898) 113 (588) 259
Other comprehensive income (loss), net of tax (206) 89 (19) 64
Comprehensive income (loss) (1,104) 202 (607) 323
Net income (loss) attributable to common shareholders        
Net income (loss) from continuing operations (864) 108 (562) 277
Preferred stock dividends - U.S. Department of Treasury (134) (134) (267) (267)
Preferred stock dividends (67) (57) (134) (127)
Impact of preferred stock amendment 0 [1] 0 [1] 0 [1] 32 [1]
Net income (loss) from continuing operations attributable to common shareholders (1,065) (83) (963) (85)
Net income (loss) attributable to common shareholders $ (1,099) $ (78) $ (989) $ (103)
Basic weighted-average common shares outstanding 1,330,970 1,330,970 1,330,970 1,330,970
Diluted weighted-average common shares outstanding 1,330,970 [2] 1,330,970 [2] 1,330,970 [2] 1,330,970 [2]
Basic earnings per common share        
Net income (loss) from continuing operations $ (800) $ (62) $ (723) $ (64)
Income (Loss) from Discontinued Operations, Net of Tax, Per Basic Share $ (25) $ 4 $ (20) $ (14)
Net (loss) income, Basic $ (825) $ (58) $ (743) $ (78)
Diluted earnings per common share        
Net income (loss) from continuing operations $ (800) [2] $ (62) [2] $ (723) [2] $ (64) [2]
Income (loss) from discontinued operations, net of tax $ (25) [2] $ 4 [2] $ (20) [2] $ (14) [2]
Net (loss) income, Diluted $ (825) [2] $ (58) [2] $ (743) [2] $ (78) [2]
[1] Refer to Note 20 to the Consolidated Financial Statements in our 2011 Annual Report on Form 10-K for further detail.
[2] Due to the antidilutive effect of converting the Fixed Rate Cumulative Mandatorily Convertible Preferred Stock into common shares and the net loss attributable to common shareholders for the three months and six months ended June 30, 2012 and 2011, respectively, loss attributable to common shareholders and basic weighted-average common shares outstanding were used to calculate basic and diluted earnings per share.