Other Assets (Tables)

9 Months Ended

Sep. 30, 2020

The components of other assets were as follows.


($ in millions)	September 30, 2020		December 31, 2019
Property and equipment at cost	$	1,485	$	1,332
Accumulated depreciation	(780)		(686)
Net property and equipment	705		646
Investment in qualified affordable housing projects (a)	1,005		830
Nonmarketable equity investments (b)	938		1,232
Accrued interest, fees, and rent receivables	840		589
Restricted cash held for securitization trusts (c)	608		738
Equity-method investments (d)	362		358
Goodwill	343		393
Other accounts receivable	206		117
Net deferred tax assets	104		58
Restricted cash and cash equivalents (e)	75		87
Net intangible assets (f)	55		69
Fair value of derivative contracts in receivable position (g)	23		64
Other assets	990		892
Total other assets	$	6,254	$	6,073

(a)Investment in qualified affordable housing projects are accounted for using the proportional amortization method of accounting and include $455 million and $372 million of unfunded commitments to provide additional capital contributions to investees at September 30, 2020, and December 31, 2019, respectively. Substantially all of the unfunded commitments at September 30, 2020, are expected to be paid out over the next five years.

(b)Includes investments in FHLB stock of $394 million and $701 million at September 30, 2020, and December 31, 2019, respectively; FRB stock of $449 million at both September 30, 2020, and December 31, 2019; and equity securities without a readily determinable fair value of $95 million and $82 million at September 30, 2020, and December 31, 2019, respectively, measured at cost with adjustments for impairment and observable changes in price. For both the three months and nine months ended September 30, 2020, we recorded $16 million of upward adjustments related to equity securities without a readily determinable fair value. During the three months and nine months ended September 30, 2020, we recorded $1 million and $6 million of impairments and downward adjustments related to equity securities without a readily determinable fair value, respectively. Through September 30, 2020, we recorded $25 million of cumulative upward adjustments and $12 million of cumulative impairments and downward adjustments related to equity securities without a readily determinable fair value held at September 30, 2020.

(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 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.

(f)Includes gross intangible assets of $109 million and $111 million at September 30, 2020, and December 31, 2019, respectively, and accumulated amortization of $55 million and $42 million at September 30, 2020, and December 31, 2019.

(g)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 September 30, 2020	$	20	$	27	$	296	$	343

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