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Revenue from Contracts with Customers
 6 Months Ended
Jun. 30, 2021
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
Our primary revenue sources, which include financing revenue and other interest income, are addressed by other GAAP and are not in the scope of ASC Topic 606, Revenue from Contracts with Customers. As part of our Insurance operations, we recognize revenue from insurance contracts, which are addressed by other GAAP and are not included in the scope of this standard. Certain noninsurance contracts within our Insurance operations, including VSCs, GAP contracts, and VMCs, are included in the scope of this standard. All revenue associated with noninsurance contracts is recognized over the contract term on a basis proportionate to the anticipated cost emergence. Further, commissions and sales expense incurred to obtain these contracts are amortized over the terms of the related policies and service contracts on the same basis as premiums and service revenue are earned, and all advertising costs are recognized as expense when incurred.
The following tables present a disaggregated view of our 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 2020 Annual Report on Form 10-K.
Three months ended June 30, ($ in millions)
Automotive Finance operationsInsurance operationsMortgage Finance operationsCorporate Finance operationsCorporate and OtherConsolidated
2021
Revenue from contracts with customers
Noninsurance contracts (a) (b) (c)$— $158 $— $— $— $158 
Remarketing fee income27 — — — — 27 
Brokerage commissions and other revenue— — — — 13 13 
Deposit account and other banking fees (d)— — — — 5 5 
Brokered/agent commissions— 4 — — — 4 
Other6 — — — 2 8 
Total revenue from contracts with customers
33 162 — — 20 215 
All other revenue
28 182 22 33 58 323 
Total other revenue (e)$61 $344 $22 $33 $78 $538 
2020
Revenue from contracts with customers
Noninsurance contracts (a) (b) (c)$— $142 $— $— $— $142 
Remarketing fee income15 — — — — 15 
Brokerage commissions and other revenue— — — — 14 14 
Deposit account and other banking fees (d)— — — — 1 1 
Brokered/agent commissions— 4 — — — 4 
Other3 — — — — 3 
Total revenue from contracts with customers
18 146 — — 15 179 
All other revenue22 292 19 6 37 376 
Total other revenue (e)$40 $438 $19 $6 $52 $555 
(a)We had opening balances of $3.0 billion and $2.9 billion in unearned revenue associated with outstanding contracts at April 1, 2021, and April 1, 2020, respectively, and $228 million and $211 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 June 30, 2021, and June 30, 2020, respectively.
(b)At June 30, 2021, we had unearned revenue of $3.1 billion associated with outstanding contracts, and with respect to this balance we expect to recognize revenue of $423 million during the remainder of 2021, $789 million in 2022, $700 million in 2023, $531 million in 2024, and $628 million thereafter. At June 30, 2020, we had unearned revenue of $2.9 billion associated with outstanding contracts.
(c)We had deferred insurance assets of $1.8 billion and $1.9 billion at April 1, 2021, and June 30, 2021, respectively, and recognized $133 million of expense during the three months ended June 30, 2021. We had deferred insurance assets of $1.7 billion and $1.8 billion at April 1, 2020, and June 30, 2020, respectively, and recognized $121 million of expense during the three months ended June 30, 2020.
(d)Reflects various services fees we charge depositors. Effective May 25, 2021, we eliminated all overdraft fees for Ally Bank deposit accounts.
(e)Represents a component of total net revenue. Refer to Note 22 for further information on our reportable operating segments.
Six months ended June 30, ($ in millions)
Automotive Finance operationsInsurance operationsMortgage Finance operationsCorporate Finance operationsCorporate and OtherConsolidated
2021
Revenue from contracts with customers
Noninsurance contracts (a) (b)$— $313 $— $— $— $313 
Remarketing fee income54 — — — — 54 
Brokerage commissions and other revenue— — — — 33 33 
Deposit account and other banking fees (c)— — — — 11 11 
Brokered/agent commissions— 8 — — — 8 
Other12 — — — 2 14 
Total revenue from contracts with customers
66 321 — — 46 433 
All other revenue
57 402 62 59 90 670 
Total other revenue (d)$123 $723 $62 $59 $136 $1,103 
2020
Revenue from contracts with customers
Noninsurance contracts (a) (b)$— $285 $— $— $— $285 
Remarketing fee income32 — — — — 32 
Brokerage commissions and other revenue— — — — 27 27 
Deposit account and other banking fees (c)— — — — 5 5 
Brokered/agent commissions— 8 — — — 8 
Other8 — — — — 8 
Total revenue from contracts with customers
40 293 — — 32 365 
All other revenue47 282 29 19 79 456 
Total other revenue (d)$87 $575 $29 $19 $111 $821 
(a)We had opening balances of $3.0 billion and $2.9 billion in unearned revenue associated with outstanding contracts at January 1, 2021, and January 1, 2020, respectively, and $453 million and $425 million of these balances were recognized as insurance premiums and service revenue earned in our Condensed Consolidated Statement of Comprehensive Income during the six months ended June 30, 2021, and June 30, 2020.
(b)We had deferred insurance assets of $1.8 billion and $1.9 billion at January 1, 2021, and June 30, 2021, respectively, and recognized $265 million of expense during the six months ended June 30, 2021. We had deferred insurance assets of $1.7 billion and $1.8 billion at January 1, 2020, and June 30, 2020, respectively, and recognized $246 million of expense during the six months ended June 30, 2020.
(c)Reflects various services fees we charge depositors. Effective May 25, 2021, we eliminated all overdraft fees for Ally Bank deposit accounts.
(d)Represents a component of total net revenue. Refer to Note 22 for further information on our reportable operating segments.
In addition to the components of other revenue presented above, as part of our Automotive Finance operations, we recognized net remarketing gains of $128 million and $192 million for the three months and six months ended June 30, 2021, respectively, and net remarketing losses of $11 million and $9 million for the three months and six months ended June 30, 2020, respectively, on the sale of off-lease vehicles. These gains and losses are included in depreciation expense on operating lease assets in our Condensed Consolidated Statement of Comprehensive Income.