Segment And Geographic Information

6 Months Ended

Jun. 30, 2013

Segment Reporting [Abstract]

Segment Reporting Disclosure [Text Block]

Segment and Geographic Information

Operating segments are defined as components of an enterprise that engage in business activity from which revenues are earned and expenses incurred for which discrete financial information is available that is evaluated regularly by our chief operating decision maker in deciding how to allocate resources and in assessing performance.

We report our results of operations on a line-of-business basis through three operating segments - Automotive Finance operations, Insurance operations, and Mortgage operations, with the remaining activity reported in Corporate and Other. The operating segments are determined based on the products and services offered, and reflect the manner in which financial information is currently evaluated by management. The following is a description of each of our reportable operating segments.

Automotive Finance operations— Provides automotive financing services to consumers and automotive dealers. For consumers, we offer retail automotive financing and leasing for new and used vehicles, and through our commercial automotive financing operations, we fund dealer purchases of new and used vehicles through wholesale or floorplan financing.

Insurance operations — Offers both consumer finance and insurance products sold primarily through the automotive dealer channel, and commercial insurance products sold to dealers. As part of our focus on offering dealers a broad range of consumer finance and insurance products, we provide vehicle service contracts, maintenance coverage, and GAP products. We also underwrite selected commercial insurance coverages, which primarily insure dealers' wholesale vehicle inventory in the United States.

Mortgage operations — Our ongoing Mortgage operations include the management of our held-for-investment mortgage portfolio. Our Mortgage operations also consist of noncore businesses that are winding down.

Corporate and Other primarily consists of our centralized corporate treasury activities, such as management of the cash and corporate investment securities portfolios, short- and long-term debt, retail and brokered deposit liabilities, derivative instruments, the amortization of the discount associated with new debt issuances and bond exchanges, most notably from the December 2008 bond exchange, and the residual impacts of our corporate funds-transfer pricing (FTP) and treasury asset liability management (ALM) activities. Corporate and Other also includes our Commercial Finance Group, certain equity investments, overhead that was previously allocated to operations that have since been sold or classified as discontinued operations, and reclassifications and eliminations between the reportable operating segments.

We utilize an FTP methodology for the majority of our business operations. The FTP methodology assigns charge rates and credit rates to classes of assets and liabilities based on expected duration and the LIBOR swap curve plus an assumed credit spread. Matching duration allocates interest income and interest expense to these reportable segments so their respective results are insulated from interest rate risk. This methodology is consistent with our ALM practices, which includes managing interest rate risk centrally at a corporate level. The net residual impact of the FTP methodology is included within the results of Corporate and Other.

The information presented in our reportable operating segments and geographic areas tables that follow are based in part on internal allocations, which involve management judgment.

Financial information for our reportable operating segments is summarized as follows.

Three months ended June 30, ($ in millions)	Automotive Finance operations		Insurance operations		Mortgage operations			Corporate and Other (a)			Consolidated (b)
2013
Net financing revenue (loss)	$	777	$	15	$	15		$	(179	)	$	628
Other revenue (loss)	60		325		(6		)	23			402
Total net revenue (loss)	837		340		9			(156		)	1,030
Provision for loan losses	88		—		6			(5		)	89
Total noninterest expense	367		295		46			93			801
Income (loss) from continuing operations before income tax expense (benefit)	$	382	$	45	$	(43	)	$	(244	)	$	140
Total assets	$	107,485	$	7,336	$	9,061		$	26,745		$	150,627
2012
Net financing revenue (loss)	$	693	$	16	$	29		$	(281	)	$	457
Other revenue (loss)	112		300		320			(18		)	714
Total net revenue (loss)	805		316		349			(299		)	1,171
Provision for loan losses	15		—		21			(3		)	33
Total noninterest expense	350		296		226			99			971
Income (loss) from continuing operations before income tax expense (benefit)	$	440	$	20	$	102		$	(395	)	$	167
Total assets	$	120,523	$	8,237	$	17,146		$	32,654		$	178,560

(a) Total assets for the Commercial Finance Group were $1.5 billion and $1.2 billion at June 30, 2013 and 2012, respectively.

(b) Net financing revenue after the provision for loan losses totaled $0.5 billion and $0.4 billion for the three months endedJune 30, 2013 and 2012, respectively.

Six months ended June 30, ($ in millions)	Automotive Finance operations		Insurance operations		Mortgage operations			Corporate and Other (a)			Consolidated (b)
2013
Net financing revenue (loss)	$	1,550	$	27	$	49		$	(358	)	$	1,268
Other revenue (loss)	142		633		(25		)	38			788
Total net revenue (loss)	1,692		660		24			(320		)	2,056
Provision for loan losses	200		—		26			(6		)	220
Total noninterest expense	767		554		245			193			1,759
Income (loss) from continuing operations before income tax expense (benefit)	$	725	$	106	$	(247	)	$	(507	)	$	77
Total assets	$	107,485	$	7,336	$	9,061		$	26,745		$	150,627
2012
Net financing revenue (loss)	$	1,323	$	28	$	66		$	(609	)	$	808
Other revenue	189		638		457			35			1,319
Total net revenue (loss)	1,512		666		523			(574		)	2,127
Provision for loan losses	93		—		48			(10		)	131
Total noninterest expense	738		546		310			232			1,826
Income (loss) from continuing operations before income tax expense (benefit)	$	681	$	120	$	165		$	(796	)	$	170
Total assets	$	120,523	$	8,237	$	17,146		$	32,654		$	178,560

(a) Total assets for the Commercial Finance Group were $1.5 billion and $1.2 billion at June 30, 2013 and 2012, respectively.

(b) Net financing revenue after the provision for loan losses totaled $1.0 billion and $0.7 billion for the six months endedJune 30, 2013 and 2012, respectively.

Information concerning principal geographic areas were as follows.

Three months ended June 30, ($ in millions)	Revenue (a)			Income (loss) from continuing operations before income tax expense (b)			Net income (loss) (b)(c)
2013
Canada	$	47		$	14		$	13
Europe (d)	—			(1		)	(146		)
Latin America	—			(1		)	194
Asia-Pacific	—			—			29
Total foreign	47			12			90
Total domestic (e)	983			128			(1,017		)
Total	$	1,030		$	140		$	(927	)
2012
Canada	$	61		$	17		$	79
Europe (d)	(4		)	10			41
Latin America	1			(4		)	62
Asia-Pacific	1			1			23
Total foreign	59			24			205
Total domestic (e)	1,112			143			(1,103		)
Total	$	1,171		$	167		$	(898	)

(a) Revenue consists of net financing revenue and total other revenue as presented in our Condensed Consolidated Financial Statements.

(b) The domestic amounts include original discount amortization of $64 million and $100 million for the three months endedJune 30, 2013 and 2012, respectively.

(c) Gain (loss) realized on sale of discontinued operations are allocated to the geographic area in which the business operated.

(d) Amounts include eliminations between our foreign operations.

(e) Amounts include eliminations between our domestic and foreign operations.

Six months ended June 30, ($ in millions)	Revenue (a)			Income (loss) from continuing operations before income tax expense (b)			Net income (loss) (b)(c)
2013
Canada	$	96		$	28		$	1,243
Europe (d)	(10		)	(19		)	(86		)
Latin America	—			(5		)	274
Asia-Pacific	1			(2		)	54
Total foreign	87			2			1,485
Total domestic (e)	1,969			75			(1,319		)
Total	$	2,056		$	77		$	166
2012
Canada	$	120		$	31		$	162
Europe (d)	(14		)	—			67
Latin America	2			(7		)	108
Asia-Pacific	2			1			50
Total foreign	110			25			387
Total domestic (e)	2,017			145			(975		)
Total	$	2,127		$	170		$	(588	)

(a) Revenue consists of net financing revenue and total other revenue as presented in our Condensed Consolidated Financial Statements.

(b) The domestic amounts include original discount amortization of $124 million and $211 million for the six months endedJune 30, 2013 and 2012, respectively.

(c) Gain (loss) realized on sale of discontinued operations are allocated to the geographic area in which the business operated.

(d) Amounts include eliminations between our foreign operations.

(e) Amounts include eliminations between our domestic and foreign operations.