Revenue from Contracts with Customers (Tables)

9 Months Ended

Sep. 30, 2020

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 2019 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
2020
Revenue from contracts with customers
Noninsurance contracts (a) (b) (c)	$	—	$	148	$	—	$	—	$	—	$	148
Remarketing fee income	20		—		—		—		—		20
Brokerage commissions and other revenue	—		—		—		—		12		12
Brokered/agent commissions	—		4		—		—		—		4
Deposit account and other banking fees	—		—		—		—		4		4
Other	3		—		—		—		—		3
Total revenue from contracts with customers	23		152		—		—		16		191
All other revenue	38		186		36		9		24		293
Total other revenue (d)	$	61	$	338	$	36	$	9	$	40	$	484
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
Brokered/agent commissions	—		3		—		—		—		3
Deposit account and other banking fees	—		—		—		—		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

(a)We had opening balances of $2.9 billion and $2.8 billion in unearned revenue associated with outstanding contracts at July 1, 2020, and July 1, 2019, respectively, and $218 million and $206 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, 2020, and September 30, 2019.

(b)At September 30, 2020, we had unearned revenue of $3.0 billion associated with outstanding contracts, and with respect to this balance we expect to recognize revenue of $210 million during the remainder of 2020, $779 million in 2021, $689 million in 2022, $568 million in 2023, and $722 million thereafter. At September 30, 2019, we had unearned revenue of $2.8 billion associated with outstanding contracts.

(c)We had deferred insurance assets of $1.8 billion at both July 1, 2020, and September 30, 2020, and recognized $125 million of expense during the three months ended September 30, 2020. 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.

(d)Represents a component of total net revenue. Refer to Note 22 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
2020
Revenue from contracts with customers
Noninsurance contracts (a) (b)	$	—	$	433	$	—	$	—	$	—	$	433
Remarketing fee income	52		—		—		—		—		52
Brokerage commissions and other revenue	—		—		—		—		39		39
Brokered/agent commissions	—		12		—		—		—		12
Deposit account and other banking fees	—		—		—		—		9		9
Other	11		—		—		—		—		11
Total revenue from contracts with customers	63		445		—		—		48		556
All other revenue	85		468		65		28		103		749
Total other revenue (c)	$	148	$	913	$	65	$	28	$	151	$	1,305
2019
Revenue from contracts with customers
Noninsurance contracts (a) (b)	$	—	$	403	$	—	$	—	$	—	$	403
Remarketing fee income	56		—		—		—		—		56
Brokerage commissions and other revenue	—		—		—		—		50		50
Brokered/agent commissions	—		10		—		—		—		10
Deposit account and other banking fees	—		—		—		—		12		12
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

(a)We had opening balances of $2.9 billion and $2.6 billion in unearned revenue associated with outstanding contracts at January 1, 2020, and January 1, 2019, respectively, and $643 million and $607 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, 2020, and September 30, 2019.

(b)We had deferred insurance assets of $1.7 billion and $1.8 billion at January 1, 2020, and September 30, 2020, respectively, and recognized $371 million of expense during the nine months ended September 30, 2020. 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.

(c)Represents a component of total net revenue. Refer to Note 22 for further information on our reportable operating segments.