Other Assets (Tables)

6 Months Ended

Jun. 30, 2020

The components of other assets were as follows.



($ in millions)	June 30, 2020			December 31, 2019
Property and equipment at cost	$	1,433		$	1,332
Accumulated depreciation	(748		)	(686		)
Net property and equipment	685			646
Accrued interest, fees, and rent receivables	1,125			589
Nonmarketable equity investments (a)	1,080			1,232
Investment in qualified affordable housing projects (b)	930			830
Restricted cash held for securitization trusts (c)	760			738
Equity-method investments (d)	361			358
Goodwill	343			393
Net deferred tax assets	161			58
Other accounts receivable (e)	150			117
Restricted cash and cash equivalents (f)	73			87
Net intangible assets (g)	60			69
Fair value of derivative contracts in receivable position (h)	14			64
Other assets	979			892
Total other assets	$	6,721		$	6,073


(a)	Includes investments in FHLB stock of $551 million and $701 million at June 30, 2020, and December 31, 2019, respectively; FRB stock of $449 million at both June 30, 2020, and December 31, 2019; and equity securities without a readily determinable fair value of $80 million and $82 million at

June 30, 2020, and December 31, 2019, respectively, measured at cost with adjustments for impairment and observable changes in price. During the three and six months ended June 30, 2020, we recorded $4 million and $5 million of impairments and downward adjustments related to equity securities without a readily determinable fair value, respectively. Through June 30, 2020, we recorded $10 million of cumulative upward adjustments and $11 million of cumulative impairments and downward adjustments related to equity securities without a readily determinable fair value held at June 30, 2020.

(b)

Investment in qualified affordable housing projects are accounted for using the proportional amortization method of accounting and include $397 million and $372 million of unfunded commitments to provide additional capital contributions to investees at June 30, 2020, and December 31, 2019, respectively. Substantially all of the unfunded commitments at June 30, 2020, 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 CRA program.


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


(f)	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.


(g)	Includes gross intangible assets of $111 million at both June 30, 2020, and December 31, 2019, and accumulated amortization of $51 million and $42 million at June 30, 2020, and December 31, 2019, respectively.

(h)

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

Schedule of Goodwill

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
Impairment losses	—		—		(50		)	(50		)
Goodwill at June 30, 2020	$	20	$	27	$	296		$	343

(a)

Includes $153 million of goodwill arising from the acquisition of Health Credit Services at both June 30, 2020, and December 31, 2019, and $143 million and $193 million of goodwill associated with Ally Invest at June 30, 2020, and December 31, 2019, respectively. For additional information on the acquisition of Health Credit Services, refer to Note 2.