Parent Company Condensed Financial Information (Tables) - Parent company

12 Months Ended

Dec. 31, 2020

Condensed Statement of Comprehensive Income


Year ended December 31, ($ in millions)	2020		2019		2018
Net financing loss and other interest income	$	(1,049)	$	(1,116)	$	(1,083)
Dividends from bank subsidiaries	1,150		1,950		2,600
Dividends from nonbank subsidiaries	66		436		443
Total other revenue	367		343		481
Total net revenue	534		1,613		2,441
Provision for credit losses	(68)		35		176
Total noninterest expense	693		626		764
(Loss) income from continuing operations before income tax benefit and undistributed income (loss) of subsidiaries	(91)		952		1,501
Income tax benefit from continuing operations (a)	(300)		(566)		(300)
Net income from continuing operations	209		1,518		1,801
Loss from discontinued operations, net of tax	(1)		(6)		(2)
Undistributed income (loss) of subsidiaries	877		203		(536)
Net income	1,085		1,715		1,263
Other comprehensive income (loss), net of tax	508		654		(289)
Comprehensive income	$	1,593	$	2,369	$	974

(a)There is a significant variation in the customary relationship between pretax (loss) income and income tax benefit due to our accounting policy elections and other adjustments.

Condensed Balance Sheet


December 31, ($ in millions)	2020		2019
Assets
Cash and cash equivalents (a)	$	4,482	$	2,105
Finance receivables and loans, net of unearned income (b)	913		2,328
Allowance for loan losses	(10)		(22)
Total finance receivables and loans, net	903		2,306
Investments in subsidiaries
Bank subsidiaries	17,146		16,954
Nonbank subsidiaries	6,090		6,535
Intercompany receivables from subsidiaries	176		144
Investment in operating leases, net	5		1
Other assets	2,034		2,193
Total assets	$	30,836	$	30,238
Liabilities and equity
Short-term borrowings	$	2,136	$	2,581
Long-term debt (c)	12,014		11,389
Interest payable	111		145
Intercompany debt to subsidiaries	1,375		1,207
Intercompany payables to subsidiaries	91		116
Accrued expenses and other liabilities	406		384
Total liabilities	16,133		15,822
Total equity	14,703		14,416
Total liabilities and equity	$	30,836	$	30,238

(a)Includes $4.4 billion and $2.1 billion deposited by the Parent at Ally Bank as of December 31, 2020, and 2019, respectively. These funds are available to the Parent for liquidity purposes.

(b)The Parent advanced $197 million and $161 million to Ally Bank as of December 31, 2020, and 2019, respectively. These funds, included in finance receivables and loans, net, are available to the Parent for liquidity purposes.

(c)Includes $2.0 billion and $2.9 billion of the outstanding principal balance of senior notes fully and unconditionally guaranteed by subsidiaries of the Parent as of December 31, 2020, and 2019, respectively.

Condensed Statement of Cash Flows


Year ended December 31, ($ in millions)	2020		2019		2018
Operating activities
Net cash provided by operating activities	$	848	$	1,818	$	1,659
Investing activities
Proceeds from sales of finance receivables and loans initially held-for-investment	1,187		548		1,596
Originations and repayments of finance receivables and loans held-for-investment and other, net	601		(253)		3,489
Net change in loans — intercompany	(36)		718		(20)
Purchases of finance receivables and loans held-for-investment	—		—		(131)
Disposals of operating lease assets	1		3		10
Capital contributions to subsidiaries	(8)		(2)		(61)
Returns of contributed capital	23		259		266
Net change in nonmarketable equity investments	(7)		(13)		(16)
Other, net	(15)		(4)		—
Net cash provided by investing activities	1,746		1,256		5,133
Financing activities
Net change in short-term borrowings	(445)		104		(694)
Net decrease in deposits	—		—		(11)
Proceeds from issuance of long-term debt	2,885		801		69
Repayments of long-term debt	(2,444)		(2,173)		(4,774)
Net change in debt — intercompany	169		271		(198)
Repurchase of common stock	(106)		(1,039)		(939)
Dividends paid	(290)		(273)		(242)
Net cash used in financing activities	(231)		(2,309)		(6,789)

Net increase in cash and cash equivalents and restricted cash	2,363		765		3
Cash and cash equivalents and restricted cash at beginning of year	2,163		1,398		1,395
Cash and cash equivalents and restricted cash at end of year	$	4,526	$	2,163	$	1,398

The following table provides a reconciliation of cash and cash equivalents and restricted cash from the Condensed Balance Sheet to the Condensed Statement of Cash Flows.


Year ended December 31, ($ in millions)	2020		2019
Cash and cash equivalents on the Condensed Balance Sheet	$	4,482	$	2,105
Restricted cash included in other assets on the Condensed Balance Sheet (a)	44		58
Total cash and cash equivalents and restricted cash in the Condensed Statement of Cash Flows	$	4,526	$	2,163

(a)Restricted cash balances relate primarily to Ally securitization arrangements. Refer to Note 13 for additional details describing the nature of restricted cash balances.