Segment And Geographic Information

3 Months Ended

Mar. 31, 2014

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 financial 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' vehicle inventories in the United States.

Mortgage operations — Our ongoing Mortgage operations include the management of our held-for-investment mortgage portfolio.

Corporate and Other primarily consists of our Commercial Finance Group, 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, and the residual impacts of our corporate funds-transfer pricing (FTP) and treasury asset liability management (ALM) activities. Corporate and Other also includes 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 March 31, ($ in millions)	Automotive Finance operations		Insurance operations		Mortgage operations			Corporate and Other (a)			Consolidated (b)
2014
Net financing revenue (loss)	$	820	$	15	$	14		$	(28	)	$	821
Other revenue (loss)	64		272		4			(19		)	321
Total net revenue (loss)	884		287		18			(47		)	1,142
Provision for loan losses	159		—		(23		)	1			137
Total noninterest expense	386		213		24			90			713
Income (loss) from continuing operations before income tax expense	$	339	$	74	$	17		$	(138	)	$	292
Total assets	$	109,307	$	7,184	$	7,937		$	24,024		$	148,452
2013
Net financing revenue (loss)	$	773	$	12	$	34		$	(179	)	$	640
Other revenue (loss)	82		308		(19		)	15			386
Total net revenue (loss)	855		320		15			(164		)	1,026
Provision for loan losses	112		—		20			(1		)	131
Total noninterest expense	400		259		199			100			958
Income (loss) from continuing operations before income tax expense	$	343	$	61	$	(204	)	$	(263	)	$	(63	)
Total assets	$	118,882	$	8,331	$	11,284		$	27,702		$	166,199

(a) Total assets for the Commercial Finance Group were $1.7 billion and $1.4 billion at March 31, 2014 and 2013, respectively.

(b) Net financing revenue after the provision for loan losses totaled $0.7 billion and $0.5 billion for the three months endedMarch 31, 2014 and 2013, respectively.

Information concerning principal geographic areas were as follows.

Three months ended March 31, ($ in millions)	Revenue (a)			Income (loss) from continuing operations before income tax expense (b)			Net income (loss) (b)(c)
2014
Canada	$	31		$	13		$	10
Europe	2			2			3
Latin America	—			—			—
Asia-Pacific	—			—			33
Total foreign	33			15			46
Total domestic (d)	1,109			277			181
Total	$	1,142		$	292		$	227
2013
Canada	$	49		$	14		$	1,230
Europe (e)	(10		)	(18		)	60
Latin America	—			(4		)	80
Asia-Pacific	1			(2		)	25
Total foreign	40			(10		)	1,395
Total domestic (d)	986			(53		)	(302		)
Total	$	1,026		$	(63	)	$	1,093

(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 $48 million and $60 million for the three months endedMarch 31, 2014 and 2013, 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 domestic and foreign operations.

(e) Amounts include eliminations between our foreign operations.