XML 50 R40.htm IDEA: XBRL DOCUMENT

Securitizations and Variable Interest Entities (Tables)

9 Months Ended

Sep. 30, 2021

Securitizations And Variable Interest Entities [Abstract]

The following table presents our involvement in consolidated and nonconsolidated VIEs in which we hold variable interests. For additional detail related to the assets and liabilities of consolidated variable interest entities refer to the Condensed Consolidated Balance Sheet.


($ in millions)	Carrying value of total assets			Carrying value of total liabilities			Assets sold to nonconsolidated VIEs (a)		Maximum exposure to loss in nonconsolidated VIEs
September 30, 2021
On-balance sheet variable interest entities
Consumer automotive	$	19,580	(b)	$	1,563	(c)

Off-balance sheet variable interest entities

Commercial other	1,688		(d)	733		(e)	—		2,234		(f)
Total	$	21,268		$	2,296		$	—	$	2,234
December 31, 2020
On-balance sheet variable interest entities
Consumer automotive	$	17,833	(b)	$	3,103	(c)
Commercial automotive	6,276			1,152
Off-balance sheet variable interest entities

Commercial other	1,295		(d)	529		(e)	—		1,754		(f)
Total	$	25,404		$	4,784		$	—	$	1,754

(a)Asset values represent the current unpaid principal balance of outstanding consumer finance receivables and loans within the VIEs.

(b)Includes $11.1 billion and $9.9 billion of assets that were not encumbered by VIE beneficial interests held by third parties at September 30, 2021, and December 31, 2020, respectively. Ally or consolidated affiliates hold the interests in these assets.

(c)Includes $124 million and $94 million of liabilities that were not obligations to third-party beneficial interest holders at September 30, 2021, and December 31, 2020, respectively.

(d)Amounts are classified as other assets.

(e)Amounts are classified as accrued expenses and other liabilities.

(f)For certain nonconsolidated affordable housing entities, maximum exposure to loss represents the yield we guaranteed investors through long-term guarantee contracts. The amount disclosed is based on the unlikely event that the yield delivered to investors in the form of low-income tax housing credits is recaptured. For nonconsolidated equity investments, maximum exposure to loss represents our outstanding investment, additional committed capital, and low-income housing tax credits subject to recapture. The amount disclosed is based on the unlikely event that our committed capital is funded, our investments become worthless, and the tax credits previously delivered to us are recaptured. This required disclosure is not an indication of our expected loss.

Schedule of Cash Flow Received and Paid to Nonconsolidated Securitization Entities

The following table summarizes cash flows received and paid related to SPEs and asset-backed financings where the transfer is accounted for as a sale and we have a continuing involvement with the transferred consumer automotive assets (for example, servicing) that were outstanding during the nine months ended September 30, 2021, and 2020. Additionally, this table contains information regarding cash flows received from and paid to nonconsolidated SPEs that existed during each period.


	Nine months ended September 30,
($ in millions)	2021		2020


Consumer automotive
Cash flows received on retained interests in securitization entities	$	—	$	11
Servicing fees	—		3
Cash disbursements for repurchases during the period	—		(2)
Total	$	—	$	12

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details