Other Assets (Tables)

6 Months Ended

Jun. 30, 2021

Other Assets [Abstract]

Schedule of Other Assets

The components of other assets were as follows.

($ in millions)	June 30, 2021		December 31, 2020
Property and equipment at cost	$	1,668	$	1,541
Accumulated depreciation	(877)		(815)
Net property and equipment	791		726
Investment in qualified affordable housing projects	1,261		1,095
Nonmarketable equity investments (a) (b)	939		915
Net deferred tax assets	889		94
Restricted cash held for securitization trusts (c)	702		875
Accrued interest, fees, and rent receivables	572		704
Equity-method investments (d)	382		320
Goodwill	343		343
Finance lease right-of-use assets (e)	327		—
Operating lease right-of-use assets	142		162
Other accounts receivable	128		166
Restricted cash and cash equivalents (f)	79		78
Net intangible assets (g)	41		50
Fair value of derivative contracts in receivable position (h)	16		17
Other assets	893		870
Total other assets	$	7,505	$	6,415

(a)Includes investments in FHLB stock of $239 million and $276 million at June 30, 2021, and December 31, 2020, respectively; FRB stock of $449 million at both June 30, 2021, and December 31, 2020; and equity securities without a readily determinable fair value of $251 million and $189 million at June 30, 2021, and December 31, 2020, respectively, measured at cost with adjustments for impairment and observable changes in price.

(b)During both the three months and six months ended June 30, 2021, we recorded $81 million of upward adjustments related to equity securities without a readily determinable fair value still held at June 30, 2021, driven primarily by an investment in one entity for which there was a subsequent funding round at a higher valuation during the period, resulting in an observable price change. During both the three months and six months ended June 30, 2021, we recorded $1 million of impairments and downward adjustments related to equity securities without a readily determinable fair value still held at June 30, 2021. Securities held in our portfolio of equity securities without a readily determinable fair value as of June 30, 2021, include cumulative upward adjustments of $176 million and impairments and downward adjustments of $13 million through June 30, 2021.

(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)For additional information on finance lease right-of-use assets, refer to Note 8.

(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 $109 million at both June 30, 2021, and December 31, 2020, and accumulated amortization of $68 million and $59 million at June 30, 2021, and December 31, 2020, 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, 2020	$	20	$	27	$	296	$	343
Impairment losses	—		—		—		—
Goodwill at June 30, 2021	$	20	$	27	$	296	$	343

(a)Includes $153 million of goodwill associated with Ally Lending at both June 30, 2021, and December 31, 2020, and $143 million of goodwill associated with Ally Invest at both June 30, 2021, and December 31, 2020.