Income Taxes (Tables)

12 Months Ended

Dec. 31, 2012

Summarizes income (loss) from continuing operations before income tax expense [Table Text Block]

The following table summarizes income (loss) from continuing operations before income tax expense.



Year ended December 31, ($ in millions)	2012			2011			2010
U.S. (loss) income	$	(773	)	$	(834	)	$	443
Non-U.S. income (loss)	18			(117		)	(51		)
(Loss) income from continuing operations before income tax expense	$	(755	)	$	(951	)	$	392

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

The significant components of income tax expense from continuing operations were as follows.



Year ended December 31, ($ in millions)	2012			2011			2010
Current income tax (benefit) expense
U.S. federal	$	—		$	18		$	23
Foreign	(24		)	26			36
State and local	10			12			58
Total current (benefit) expense	(14		)	56			117
Deferred income tax (benefit) expense
U.S. federal	(1,058		)	—			(6		)
Foreign	25			(5		)	—
State and local	(237		)	—			(7		)
Total deferred benefit	(1,270		)	(5		)	(13		)
Total income tax (benefit) expense from continuing operations	$	(1,284	)	$	51		$	104

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

A reconciliation of the (benefit) provision for income taxes with the amounts at the statutory U.S. federal income tax rate is shown in the following table.



Year ended December 31, ($ in millions)	2012			2011			2010
Statutory U.S. federal tax (benefit) expense	$	(264	)	$	(333	)	$	137
Change in tax resulting from
Effect of valuation allowance change	(984		)	339			(124		)
State and local income taxes, net of federal income tax benefit	(71		)	7			2
Tax Credits	(45		)	(3		)	—
Changes in unrecognized tax benefits	(7		)	(5		)	54
Foreign tax differential	2			31			(20		)
Non-deductible expenses	64			8			4
Other, net	21			7			51
Tax (benefit) expense	$	(1,284	)	$	51		$	104

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

The significant components of deferred tax assets and liabilities are reflected in the following table.



December 31, ($ in millions)	2012			2011
Deferred tax assets
Tax credit carryforwards	$	1,631		$	161
Tax loss carryforwards	1,025			1,976
Mark-to-market on consumer finance receivables and loans	880			695
Equity investment in ResCap	486			—
Provision for loan losses	306			775
Hedging transactions	267			280
State and local taxes	263			186
ResCap settlement accrual	262			—
Sales of finance receivables and loans	206			182
Unearned insurance premiums	142			158
Contingency reserves	19			169
Other	247			568
Gross deferred tax assets	5,734			5,150
Valuation allowance	(1,653		)	(2,274		)
Net deferred tax assets	4,081			2,876
Deferred tax liabilities
Lease transactions	1,756			2,052
Basis difference in subsidiaries	454			—
Deferred acquisition costs	333			328
Debt transactions	226			32
Unrealized gains on securities	16			180
Other	112			157
Gross deferred tax liabilities	2,897			2,749
Net deferred tax assets	$	1,184		$	127

Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block]

The following table provides a reconciliation of the beginning and ending amount of unrecognized tax benefits.



($ in millions)	2012			2011			2010
Balance at January 1,	$	198		$	214		$	172
Additions based on tax positions related to the current year	14			11			69
Additions for tax positions of prior years	2			20			3
Reductions for tax positions of prior years	(4		)	(3		)	(23		)
Settlements	(17		)	(35		)	(9		)
Expiration of statute of limitations	(4		)	—			(2		)
Foreign-currency translation adjustments	(5		)	(9		)	4
Deconsolidation of ResCap and discontinued operations	(82		)	—			—
Balance at December 31,	$	102		$	198		$	214