Subsequent Events

9 Months Ended

Sep. 30, 2019

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

Health Credit Services Acquisition

On October 1, 2019, we closed on the acquisition of Health Credit Services, a digital point-of-sale payment provider that offers financing to consumers for various healthcare procedures or services, for approximately $190 million. The purchase price includes approximately $170 million in premium to the acquired net assets and is subject to certain purchase price adjustments.

Ally Invest

We conducted our annual impairment testing of goodwill as of August 31, 2019, as further described in Note 1 to the Consolidated Financial Statements in our 2018 Annual Report on Form 10-K. The result of our most recent impairment testing indicated that there was no goodwill impairment for our reporting units. Early in October, several large brokerage firms announced that they would offer commission-free trading to customers. Following these events, on October 4, 2019, Ally Invest announced that it would also offer commission-free trading for its customers, effective October 9, 2019. We are currently evaluating the impact this may have on the projected revenue and earnings in relation to the carrying value of the goodwill of Ally Invest, which was $193 million as of September 30, 2019.

Declaration of Quarterly Dividend

On October 7, 2019, the Board declared a quarterly cash dividend of $0.17 per share on all common stock. The dividend is payable on November 15, 2019, to stockholders of record at the close of business on November 1, 2019.