Fair Value (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]

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
June 30, 2016($ in millions)	Level 1			Level 2			Level 3		Total
Assets
Investment securities
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies	$	275		$	—		$	—	$	275
U.S. States and political subdivisions	—			733			—		733
Foreign government	11			180			—		191
Mortgage-backed residential	—			12,617			—		12,617
Mortgage-backed commercial	—			506			—		506
Asset-backed	—			1,674			—		1,674
Corporate debt	—			1,602			—		1,602
Total debt securities	286			17,312			—		17,598
Equity securities (a)	599			—			—		599
Total available-for-sale securities	885			17,312			—		18,197
Other assets
Interests retained in financial asset sales	—			—			31		31
Derivative contracts in a receivable position (b)
Interest rate	1			199			—		200
Foreign currency	—			7			—		7
Other	2			—			—		2
Total derivative contracts in a receivable position	3			206			—		209
Total assets	$	888		$	17,518		$	31	$	18,437
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position (b)
Interest rate	$	—		$	(79	)	$	—	$	(79	)
Foreign currency	—			(2		)	—		(2		)
Other	(1		)	(5		)	—		(6		)
Total derivative contracts in a payable position	(1		)	(86		)	—		(87		)
Total liabilities	$	(1	)	$	(86	)	$	—	$	(87	)

(a) Our investment in any one industry did not exceed 18%.

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

	Recurring fair value measurements
December 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	$	1,469		$	272		$	—	$	1,741
U.S. States and political subdivisions	—			716			—		716
Foreign government	10			167			—		177
Mortgage-backed residential	—			10,366			—		10,366
Mortgage-backed commercial	—			481			—		481
Asset-backed	—			1,755			—		1,755
Corporate debt	—			1,204			—		1,204
Total debt securities	1,479			14,961			—		16,440
Equity securities (a)	717			—			—		717
Total available-for-sale securities	2,196			14,961			—		17,157
Other assets
Interests retained in financial asset sales	—			—			40		40
Derivative contracts in a receivable position (b)
Interest rate	2			229			—		231
Other	2			—			—		2
Total derivative contracts in a receivable position	4			229			—		233
Total assets	$	2,200		$	15,190		$	40	$	17,430
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position (b)
Interest rate	$	(2	)	$	(133	)	$	—	$	(135	)
Foreign currency	—			(1		)	—		(1		)
Other	(1		)	(8		)	—		(9		)
Total derivative contracts in a payable position	(3		)	(142		)	—		(145		)
Total liabilities	$	(3	)	$	(142	)	$	—	$	(145	)

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

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

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 June 30, 2016		Net unrealized gains included in earnings still held at June 30, 2016
($ in millions)	Fair value at April 1, 2016		included in earnings			included in OCI		Purchases		Sales		Issuances		Settlements
Assets
Other assets
Interests retained in financial asset sales	$	31	$	1	(a)	$	—	$	—	$	2	$	—	$	(3	)	$	31	$	—
Total assets	$	31	$	1		$	—	$	—	$	2	$	—	$	(3	)	$	31	$	—

(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 April 1, 2015		Net realized/unrealized gains					Purchases		Sales		Issuances		Settlements			Fair value at June 30, 2015		Net unrealized gains included in earnings still held at June 30, 2015
($ in millions)			included in earnings			included in OCI
Assets
Mortgage loans held-for-sale, net	$	3	$	1	(a)	$	—	$	—	$	—	$	—	$	—		$	4	$	1
Other assets
Interests retained in financial asset sales	42		4		(a)	—		—		—		—		(14		)	32		—
Total assets	$	45	$	5		$	—	$	—	$	—	$	—	$	(14	)	$	36	$	1

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

	Level 3 recurring fair value measurements
			Net realized/unrealized gains														Fair value at June 30, 2016		Net unrealized gains included in earnings still held at June 30, 2016
($ in millions)	Fair value at Jan. 1, 2016		included in earnings			included in OCI		Purchases		Sales		Issuances		Settlements
Assets
Other assets
Interests retained in financial asset sales	$	40	$	3	(a)	$	—	$	—	$	6	$	—	$	(18	)	$	31	$	—
Total assets	$	40	$	3		$	—	$	—	$	6	$	—	$	(18	)	$	31	$	—

(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 Jan. 1, 2015		Net realized/unrealized gains					Purchases		Sales		Issuances		Settlements			Fair value at June 30, 2015		Net unrealized gains included in earnings still held at June 30, 2015
($ in millions)			included in earnings			included in OCI
Assets
Mortgage loans held-for-sale, net	$	3	$	1	(a)	$	—	$	—	$	—	$	—	$	—		$	4	$	1
Other assets
Interests retained in financial asset sales	47		7		(a)	—		—		—		1		(23		)	32		—
Total assets	$	50	$	8		$	—	$	—	$	—	$	1	$	(23	)	$	36	$	1

(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		Total gain included in earnings for the six months ended
June 30, 2016($ in millions)	Level 1		Level 2		Level 3		Total
Assets
Loans held-for-sale, net	$	—	$	—	$	15	$	15	$	—		n/m	(a)	n/m	(a)
Commercial finance receivables and loans, net (b)
Automotive	—		—		43		43		(6		)	n/m	(a)	n/m	(a)
Other	—		—		46		46		(18		)	n/m	(a)	n/m	(a)
Total commercial finance receivables and loans, net	—		—		89		89		(24		)	n/m	(a)	n/m	(a)
Other assets
Repossessed and foreclosed assets (c)	—		—		10		10		(3		)	n/m	(a)	n/m	(a)
Other	—		—		5		5		—			n/m	(a)	n/m	(a)
Total assets	$	—	$	—	$	119	$	119	$	(27	)	n/m		n/m

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 2016. 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 gain included in earnings for the three months ended		Total gain included in earnings for the six months ended
June 30, 2015 ($ in millions)	Level 1		Level 2		Level 3		Total
Assets
Loans held-for-sale, net
Automotive	$	—	$	—	$	1,356	$	1,356	$	(12	)	n/m	(a)	n/m	(a)
Mortgage	—		—		10		10		(1		)	n/m	(a)	n/m	(a)
Other	—		—		36		36		—			n/m	(a)	n/m	(a)
Total loans held-for-sale, net	—		—		1,402		1,402		(13		)	n/m	(a)	n/m	(a)
Commercial finance receivables and loans, net (b)
Automotive	—		—		24		24		(8		)	n/m	(a)	n/m	(a)
Other	—		—		34		34		(11		)	n/m	(a)	n/m	(a)
Total commercial finance receivables and loans, net	—		—		58		58		(19		)	n/m	(a)	n/m	(a)
Other assets
Repossessed and foreclosed assets (c)	—		—		10		10		(3		)	n/m	(a)	n/m	(a)
Other	—		—		2		2		—			n/m	(a)	n/m	(a)
Total assets	$	—	$	—	$	1,472	$	1,472	$	(35	)	n/m		n/m

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.

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.

June 30, 2015 ($ in millions)	Level 3 nonrecurring measurements		Valuation technique	Unobservable input	Weighted average/range
Assets
Automotive loans held-for-sale, net	$	1,356	Discounted cash flow	Prepayment rate	1.30%
				Gross loss	0-4.50%
				Credit spread	0-6.70%

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 current market data to develop the market assumptions and inputs necessary to estimate fair value. As such, the actual amount received to sell an asset or the amount paid to settle a liability could differ from our estimates. Fair value information presented herein was based on information available at June 30, 2016, and December 31, 2015.

			Estimated fair value
($ in millions)	Carrying value		Level 1		Level 2		Level 3		Total
June 30, 2016
Financial assets
Held-to-maturity securities	$	571	$	—	$	579	$	—	$	579
Loans held-for-sale, net	15		—		—		15		15
Finance receivables and loans, net	111,564		—		—		112,632		112,632
Nonmarketable equity investments	772		—		745		43		788
Financial liabilities
Deposit liabilities	$	72,802	$	—	$	—	$	73,528	$	73,528
Short-term borrowings	5,994		—		—		5,996		5,996
Long-term debt	61,040		—		23,407		39,574		62,981
December 31, 2015
Financial assets
Loans held-for-sale, net	$	105	$	—	$	—	$	105	$	105
Finance receivables and loans, net	110,546		—		—		110,737		110,737
Nonmarketable equity investments	418		—		391		42		433
Financial liabilities
Deposit liabilities	$	66,478	$	—	$	—	$	66,889	$	66,889
Short-term borrowings	8,101		—		—		8,102		8,102
Long-term debt	66,234		—		23,018		45,157		68,175