Other Assets (Tables)

9 Months Ended

Sep. 30, 2019

The components of other assets were as follows.



($ in millions)	September 30, 2019			December 31, 2018
Property and equipment at cost	$	1,294		$	1,250
Accumulated depreciation	(662		)	(686		)
Net property and equipment	632			564
Nonmarketable equity investments (a)	1,243			1,410
Investment in qualified affordable housing projects (b)	784			649
Restricted cash held for securitization trusts (c)	666			965
Accrued interest, fees, and rent receivables	594			599
Equity-method investments (d)	322			262
Goodwill (e)	240			240
Other accounts receivable	118			203
Fair value of derivative contracts in receivable position (f)	94			41
Restricted cash and cash equivalents (g)	88			124
Net deferred tax assets	75			317
Cash collateral placed with counterparties	6			26
Other assets	928			753
Total other assets	$	5,790		$	6,153

(a)

Includes investments in FHLB stock of $711 million and $903 million at September 30, 2019, and December 31, 2018, respectively; Federal Reserve Bank (FRB) stock of $449 million and $448 million at September 30, 2019, and December 31, 2018, respectively; and equity securities without a readily determinable fair value of $83 million and $59 million at September 30, 2019, and December 31, 2018, respectively, measured at cost with adjustments for impairment and observable changes in price. During the three months and nine months ended September 30, 2019, we recorded $2 million and $9 million, respectively, of upward adjustments related to equity securities without a readily determinable fair value. Through September 30, 2019, we recorded $9 million of cumulative upward adjustments and $3 million of cumulative impairments and downward adjustments related to equity securities without a readily determinable fair value.

(b)

Investment in qualified affordable housing projects are accounted for using the proportional amortization method of accounting and include $350 million and $319 million of unfunded commitments to provide additional capital contributions to investees at September 30, 2019, and December 31, 2018, respectively. Substantially all of the unfunded commitments at September 30, 2019, are expected to be paid out over the next five years.


(c)	Includes restricted cash collected from customer payments on securitized receivables, which are distributed by us to investors as payments on the related secured debt, and cash reserve deposits utilized as a form of credit enhancement for various securitization transactions.


(d)	Primarily relates to investments made in connection with our Community Reinvestment Act (CRA) program.

(e)

Includes goodwill of $27 million within our Insurance operations at both September 30, 2019, and December 31, 2018; $193 million within Corporate and Other at both September 30, 2019, and December 31, 2018; and $20 million within Automotive Finance operations at both September 30, 2019, and December 31, 2018. No changes to the carrying amount of goodwill were recorded during the nine months ended September 30, 2019.


(f)	For additional information on derivative instruments and hedging activities, refer to Note 17.

(g)

Primarily represents a number of arrangements with third parties where certain restrictions are placed on balances we hold due to collateral agreements associated with operational processes with a third-party bank, or letter of credit arrangements and corresponding collateral requirements.