Other Assets (Tables)

3 Months Ended

Mar. 31, 2020

The components of other assets were as follows.



($ in millions)	March 31, 2020			December 31, 2019
Property and equipment at cost	$	1,355		$	1,332
Accumulated depreciation	(714		)	(686		)
Net property and equipment	641			646
Nonmarketable equity investments (a)	1,324			1,232
Other accounts receivable (b)	1,303			117
Investment in qualified affordable housing projects (c)	924			830
Restricted cash held for securitization trusts (d)	843			738
Accrued interest, fees, and rent receivables	669			589
Goodwill	393			393
Equity-method investments (e)	350			358
Net deferred tax assets	227			58
Net intangible assets (f)	64			69
Restricted cash and cash equivalents (g)	62			87
Fair value of derivative contracts in receivable position (h)	10			64
Other assets	1,168			892
Total other assets	$	7,978		$	6,073


(a)	Includes investments in FHLB stock of $793 million and $701 million at March 31, 2020, and December 31, 2019, respectively; FRB stock of $449 million at both March 31, 2020, and December 31, 2019; and equity securities without a readily determinable fair value of $82 million at both

March 31, 2020, and December 31, 2019, measured at cost with adjustments for impairment and observable changes in price. During the three months ended March 31, 2020, we recorded $1 million of impairments and downward adjustments related to equity securities without a readily determinable fair value. Through March 31, 2020, we recorded $10 million of cumulative upward adjustments and $7 million of cumulative impairments and downward adjustments related to equity securities without a readily determinable fair value held at March 31, 2020.


(b)	Primarily represents the proceeds from the sale of investment securities that have not settled as of the balance sheet date.

(c)

Investment in qualified affordable housing projects are accounted for using the proportional amortization method of accounting and include $408 million and $372 million of unfunded commitments to provide additional capital contributions to investees at March 31, 2020, and December 31, 2019. Substantially all of the unfunded commitments at March 31, 2020 are expected to be paid out over the next five years.


(d)	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.


(e)	Primarily relates to investments made in connection with our CRA program.


(f)	Includes gross intangible assets of $111 million at both March 31, 2020, and December 31, 2019, and accumulated amortization of $47 million and $42 million at March 31, 2020, and December 31, 2019, respectively.


(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.


(h)	For additional information on derivative instruments and hedging activities, refer to Note 18.

There were no changes to the carrying amount of goodwill for the period. The carrying balance of goodwill by reportable operating segment was as follows.



($ in millions)	Automotive Finance operations		Insurance operations		Corporate and Other (a)		Total
Goodwill at December 31, 2019	$	20	$	27	$	346	$	393
Goodwill at March 31, 2020	$	20	$	27	$	346	$	393

(a)

Includes $153 million of goodwill arising from the acquisition of Health Credit Services and $193 million of goodwill associated with Ally Invest at both March 31, 2020, and December 31, 2019. For additional information on the acquisition of Health Credit Services, refer to Note 2.

Schedule of Goodwill



($ in millions)	Automotive Finance operations		Insurance operations		Corporate and Other (a)		Total
Goodwill at December 31, 2019	$	20	$	27	$	346	$	393
Goodwill at March 31, 2020	$	20	$	27	$	346	$	393