Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2019

Revenue from Contract with Customer [Abstract]

The following tables present a disaggregated view of our revenue from contracts with customers included in other revenue that falls within the scope of the revenue recognition principles of ASC Topic 606, Revenue from Contracts with Customers. For further information regarding our revenue recognition policies and details about the nature of our respective revenue streams, refer to Note 1 and Note 3 to the Consolidated Financial Statements in our 2018 Annual Report on Form 10-K.



Three months ended September 30, ($ in millions)	Automotive Finance operations		Insurance operations		Mortgage Finance operations		Corporate Finance operations		Corporate and Other		Consolidated
2019
Revenue from contracts with customers
Noninsurance contracts (a) (b) (c)	$	—	$	138	$	—	$	—	$	—	$	138
Remarketing fee income	19		—		—		—		—		19
Brokerage commissions and other revenue	—		—		—		—		16		16
Deposit account and other banking fees	—		—		—		—		3		3
Brokered/agent commissions	—		3		—		—		—		3
Other	5		—		—		—		—		5
Total revenue from contracts with customers	24		141		—		—		19		184
All other revenue	35		148		10		9		27		229
Total other revenue (d)	$	59	$	289	$	10	$	9	$	46	$	413
2018
Revenue from contracts with customers
Noninsurance contracts (a) (b) (c)	$	—	$	129	$	—	$	—	$	—	$	129
Remarketing fee income	19		—		—		—		—		19
Brokerage commissions and other revenue	—		—		—		—		15		15
Brokered/agent commissions	—		3		—		—		—		3
Deposit account and other banking fees	—		—		—		—		3		3
Other	4		—		—		—		—		4
Total revenue from contracts with customers	23		132		—		—		18		173
All other revenue	57		150		2		14		2		225
Total other revenue (d)	$	80	$	282	$	2	$	14	$	20	$	398

(a)

We had opening balances of $2.8 billion and $2.6 billion in unearned revenue associated with outstanding contracts at July 1, 2019, and July 1, 2018, respectively, and $206 million and $199 million of these balances were recognized as insurance premiums and service revenue earned in our Condensed Consolidated Statement of Comprehensive Income during the three months ended September 30, 2019, and September 30, 2018.

(b)

At September 30, 2019, we had unearned revenue of $2.8 billion associated with outstanding contracts, and with respect to this balance we expect to recognize revenue of $197 million during the remainder of 2019, $737 million in 2020, $646 million in 2021, $523 million in 2022, and $720 million thereafter. At September 30, 2018, we had unearned revenue of $2.6 billion associated with outstanding contracts.

(c)

We had deferred insurance assets of $1.6 billion and $1.7 billion at July 1, 2019, and September 30, 2019, respectively, and recognized $119 million of expense during the three months ended September 30, 2019. We had deferred insurance assets of $1.5 billion at both July 1, 2018, and September 30, 2018, respectively, and recognized $108 million of expense during the three months ended September 30, 2018.


(d)	Represents a component of total net revenue. Refer to Note 21 for further information on our reportable operating segments.



Nine months ended September 30, ($ in millions)	Automotive Finance operations		Insurance operations		Mortgage Finance operations		Corporate Finance operations		Corporate and Other		Consolidated
2019
Revenue from contracts with customers
Noninsurance contracts (a) (b)	$	—	$	403	$	—	$	—	$	—	$	403
Remarketing fee income	56		—		—		—		—		56
Brokerage commissions and other revenue	—		—		—		—		50		50
Deposit account and other banking fees	—		—		—		—		12		12
Brokered/agent commissions	—		10		—		—		—		10
Other	15		—		—		—		—		15
Total revenue from contracts with customers	71		413		—		—		62		546
All other revenue	117		522		16		30		43		728
Total other revenue (c)	$	188	$	935	$	16	$	30	$	105	$	1,274
2018
Revenue from contracts with customers
Noninsurance contracts (a) (b)	$	—	$	377	$	—	$	—	$	—	$	377
Remarketing fee income	63		—		—		—		—		63
Brokerage commissions and other revenue	—		—		—		—		46		46
Brokered/agent commissions	—		11		—		—		—		11
Deposit account and other banking fees	—		—		—		—		9		9
Other	10		1		—		—		—		11
Total revenue from contracts with customers	73		389		—		—		55		517
All other revenue	136		405		5		36		17		599
Total other revenue (c)	$	209	$	794	$	5	$	36	$	72	$	1,116

(a)

We had opening balances of $2.6 billion and $2.5 billion in unearned revenue associated with outstanding contracts at January 1, 2019, and January 1, 2018, respectively, and $607 million and $588 million of these balances were recognized as insurance premiums and service revenue earned in our Condensed Consolidated Statement of Comprehensive Income during the nine months ended September 30, 2019, and September 30, 2018.

(b)

We had deferred insurance assets of $1.5 billion and $1.7 billion at January 1, 2019, and September 30, 2019, respectively, and recognized $344 million of expense during the nine months ended September 30, 2019. We had deferred insurance assets of $1.4 billion and $1.5 billion at January 1, 2018, and September 30, 2018, respectively, and recognized $317 million of expense during the nine months ended September 30, 2018.

(c)

Represents a component of total net revenue. Refer to Note 21 for further information on our reportable operating segments.