Fair Value (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements - Recurring Basis [Table Text Block]

The following tables display the assets and liabilities measured at fair value on a recurring basis including financial instruments elected for the fair value option. We often economically hedge the fair value change of our assets or liabilities with derivatives and other financial instruments. The tables below display the hedges separately from the hedged items; therefore, they do not directly display the impact of our risk management activities.

	Recurring fair value measurements
March 31, 2015($ in millions)	Level 1			Level 2			Level 3		Total
Assets
Investment securities
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies	$	1,816		$	872		$	—	$	2,688
U.S. State and political subdivisions	—			524			—		524
Foreign government	14			201			—		215
Mortgage-backed residential	—			10,305			—		10,305
Mortgage-backed commercial	—			312			—		312
Asset-backed	—			2,066			—		2,066
Corporate debt securities	—			752			—		752
Total debt securities	1,830			15,032			—		16,862
Equity securities (a)	967			—			—		967
Total available-for-sale securities	2,797			15,032			—		17,829
Mortgage loans held-for-sale, net (b)	—			—			3		3
Other assets
Interests retained in financial asset sales	—			—			42		42
Derivative contracts in a receivable position (c)
Interest rate	6			288			—		294
Foreign currency	—			21			—		21
Other	—			—			—		—
Total derivative contracts in a receivable position	6			309			—		315
Collateral placed with counterparties (d)	—			9			—		9
Total assets	$	2,803		$	15,350		$	45	$	18,198
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position
Interest rate	$	(7	)	$	(155	)	$	—	$	(162	)
Foreign currency	—			(95		)	—		(95		)
Other	(2		)	(9		)	—		(11		)
Total derivative contracts in a payable position (c)	(9		)	(259		)	—		(268		)
Other liabilities	—			—			—		—
Total liabilities	$	(9	)	$	(259	)	$	—	$	(268	)

(a) Our investment in any one industry did not exceed 14%.

(b) Carried at fair value due to fair value option elections.

(c) For additional information on derivative instruments and hedging activities, refer to Note 20.

(d) Represents collateral in the form of investment securities. Cash collateral was excluded.

	Recurring fair value measurements
December 31, 2014 ($ in millions)	Level 1			Level 2			Level 3		Total
Assets
Investment securities
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies	$	217		$	961		$	—	$	1,178
U.S. State and political subdivisions	—			406			—		406
Foreign government	14			218			—		232
Mortgage-backed residential	—			10,425			—		10,425
Mortgage-backed commercial	—			253			—		253
Asset-backed	—			1,991			—		1,991
Corporate debt securities	—			746			—		746
Total debt securities	231			15,000			—		15,231
Equity securities (a)	906			—			—		906
Total available-for-sale securities	1,137			15,000			—		16,137
Mortgage loans held-for-sale, net (b)	—			—			3		3
Other assets
Interests retained in financial asset sales	—			—			47		47
Derivative contracts in a receivable position (c)
Interest rate	4			252			—		256
Foreign currency	—			5			—		5
Other	2			—			—		2
Total derivative contracts in a receivable position	6			257			—		263
Collateral placed with counterparties (d)	—			15			—		15
Total assets	$	1,143		$	15,272		$	50	$	16,465
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position (c)
Interest rate	$	(2	)	$	(166	)	$	—	$	(168	)
Foreign currency	—			(78		)	—		(78		)
Other	(2		)	(4		)	—		(6		)
Total derivative contracts in a payable position	(4		)	(248		)	—		(252		)
Total liabilities	$	(4	)	$	(248	)	$	—	$	(252	)

(a) Our investment in any one industry did not exceed 16%.

(b) Carried at fair value due to fair value option elections.

(c) For additional information on derivative instruments and hedging activities, refer to Note 20.

(d) Represents collateral in the form of investment securities. Cash collateral was excluded.

Fair Value Measurements - Reconciliation of Level 3 Assets and Liabilities [Table Text Block]

The following tables present the reconciliation for all Level 3 assets and liabilities measured at fair value on a recurring basis. We often economically hedge the fair value change of our assets or liabilities with derivatives and other financial instruments. The Level 3 items presented below may be hedged by derivatives and other financial instruments that are classified as Level 1 or Level 2. Thus, the following tables do not fully reflect the impact of our risk management activities.

	Level 3 recurring fair value measurements
			Net realized/unrealized gains																Fair value at March 31, 2015		Net unrealized gains included in earnings still held at March 31, 2015
($ in millions)	Fair value at January 1, 2015		included in earnings			included in OCI		Purchases		Sales		Issuances		Settlements			Transfers out of Level 3
Assets
Mortgage loans held-for-sale, net	$	3	$	—		$	—	$	—	$	—	$	—	$	—		$	—	$	3	$	—
Other assets
Interests retained in financial asset sales	47		3		(a)	—		—		—		1		(9		)	—		42		—
Total assets	$	50	$	3		$	—	$	—	$	—	$	1	$	(9	)	$	—	$	45	$	—

(a) Reported as other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income.

	Level 3 recurring fair value measurements
	Fair value at January 1, 2014			Net realized/unrealized gains					Purchases		Sales		Issuances		Settlements			Transfers out of Level 3		Fair value at March 31, 2014		Net unrealized gains included in earnings still held at March 31, 2014
($ in millions)				included in earnings			included in OCI
Assets
Other assets
Interests retained in financial asset sales	$	100		$	1	(a)	$	—	$	—	$	—	$	—	$	(17	)	$	—	$	84	$	—
Interest rate derivative contracts, net	(1		)	—			—		—		—		—		(2		)	3		—		—
Total assets	$	99		$	1		$	—	$	—	$	—	$	—	$	(19	)	$	3	$	84	$	—

(a) Reported as other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income.

Fair Value Measurements - Nonrecurring Basis [Table Text Block]

The following tables display the assets and liabilities measured at fair value on a nonrecurring basis.

	Nonrecurring fair value measurements								Lower-of-cost or fair value or valuation reserve allowance			Total gain included in earnings for the three months ended
March 31, 2015($ in millions)	Level 1		Level 2		Level 3		Total
Assets
Loans held-for-sale
Automotive	$	—	$	—	$	1,500	$	1,500	$	(8	)	n/m	(a)
Mortgage	—		—		28		28		(5		)	n/m	(a)
Other	—		—		17		17		—			n/m	(a)
Total loans held-for-sale	—		—		1,545		1,545		(13		)	n/m	(a)
Commercial finance receivables and loans, net (b)
Automotive	—		—		26		26		(7		)	n/m	(a)
Other	—		—		18		18		(8		)	n/m	(a)
Total commercial finance receivables and loans, net	—		—		44		44		(15		)	n/m	(a)
Other assets
Repossessed and foreclosed assets (c)	—		—		8		8		(2		)	n/m	(a)
Other	—		—		2		2		—			n/m	(a)
Total assets	$	—	$	—	$	1,599	$	1,599	$	(30	)	n/m	(a)

n/m = not meaningful

(a) We consider the applicable valuation or loan loss allowance to be the most relevant indicator of the impact on earnings caused by the fair value measurement. Accordingly, the table above excludes total gains and losses included in earnings for these items. The carrying values are inclusive of the respective valuation or loan loss allowance.

(b) Represents the portion of the portfolio specifically impaired during 2015. The related valuation allowance represents the cumulative adjustment to fair value of those specific receivables.

(c) The allowance provided for repossessed and foreclosed assets represents any cumulative valuation adjustment recognized to adjust the assets to fair value.

	Nonrecurring fair value measurements								Lower-of-cost or fair value or valuation reserve allowance			Total loss included in earnings for the three months ended
March 31, 2014 ($ in millions)	Level 1		Level 2		Level 3		Total
Assets
Commercial finance receivables and loans, net (a)
Automotive	$	—	$	—	$	31	$	31	$	(6	)	n/m	(b)
Other	—		—		53		53		(20		)	n/m	(b)
Total commercial finance receivables and loans, net	—		—		84		84		(26		)	n/m	(b)
Other assets
Repossessed and foreclosed assets (c)	—		—		11		11		1			n/m	(b)
Other	—		—		2		2		—			n/m	(b)
Total assets	$	—	$	—	$	97	$	97	$	(25	)	n/m

n/m = not meaningful

(a) Represents the portion of the portfolio specifically impaired during 2014. The related valuation allowance represents the cumulative adjustment to fair value of those specific receivables.

(b) We consider the applicable valuation or loan loss allowance to be the most relevant indicator of the impact on earnings caused by the fair value measurement. Accordingly, the table above excludes total gains and losses included in earnings for these items. The carrying values are inclusive of the respective valuation or loan loss allowance.

(c) The allowance provided for repossessed and foreclosed assets represents any cumulative valuation adjustment recognized to adjust the assets to fair value.

Fair Value Measurements - Nonrecurring Fair Value Inputs [Table Text Block]

The following table presents quantitative information regarding the significant unobservable inputs used in significant Level 3 assets measured at fair value on a nonrecurring basis.

March 31, 2015($ in millions)	Level 3 nonrecurring measurements		Valuation technique	Unobservable input	Weighted average/range
Assets
Automotive loans held-for-sale, net	$	1,500	Discounted cash flow	Prepayment rate	1.30%
				Gross loss	0-4.80%
				Credit spread	0.58%

Fair Value of Financial Intruments [Table Text Block]

The following table presents the carrying and estimated fair value of financial instruments, except for those recorded at fair value on a recurring basis presented in the previous section of this note titled Recurring Fair Value. When possible, we use quoted market prices to determine fair value. Where quoted market prices are not available, the fair value is internally derived based on appropriate valuation methodologies with respect to the amount and timing of future cash flows and estimated discount rates. However, considerable judgment is required in interpreting market data to develop estimates of fair value, so the estimates are not necessarily indicative of the amounts that could be realized or would be paid in a current market exchange. The effect of using different market assumptions or estimation methodologies could be material to the estimated fair values. Fair value information presented herein was based on information available at March 31, 2015 and December 31, 2014.

			Estimated fair value
($ in millions)	Carrying value		Level 1		Level 2		Level 3		Total
March 31, 2015
Financial assets
Loans held-for-sale, net	$	1,559	$	—	$	—	$	1,561	$	1,561
Finance receivables and loans, net	98,924		—		—		99,781		99,781
Nonmarketable equity investments	213		—		188		32		220
Financial liabilities
Deposit liabilities	$	60,875	$	—	$	—	$	61,504	$	61,504
Short-term borrowings	6,447		—		—		6,447		6,447
Long-term debt	65,760		—		24,376		43,889		68,265
December 31, 2014
Financial assets
Loans held-for-sale, net	$	2,003	$	—	$	485	$	1,554	$	2,039
Finance receivables and loans, net	98,971		—		—		99,430		99,430
Nonmarketable equity investments	271		—		246		33		279
Financial liabilities
Deposit liabilities	$	58,222	$	—	$	—	$	58,777	$	58,777
Short-term borrowings	7,062		—		—		7,063		7,063
Long-term debt	66,558		—		25,224		44,084		69,308