Other Assets (Tables)

9 Months Ended

Sep. 30, 2021

Other Assets [Abstract]

Schedule of Other Assets

The components of other assets were as follows.

($ in millions)	September 30, 2021		December 31, 2020
Property and equipment at cost (a)	$	2,075	$	1,541
Accumulated depreciation	(917)		(815)
Net property and equipment	1,158		726
Investment in qualified affordable housing projects	1,341		1,095
Nonmarketable equity investments (b) (c)	931		915
Net deferred tax assets	852		94
Accrued interest, fees, and rent receivables	580		704
Restricted cash held for securitization trusts (d)	567		875
Equity-method investments (e)	402		320
Goodwill	343		343
Other accounts receivable	158		166
Operating lease right-of-use assets	148		162
Restricted cash and cash equivalents (f)	57		78
Net intangible assets (g)	37		50
Fair value of derivative contracts in receivable position (h)	9		17
Other assets	869		870
Total other assets	$	7,452	$	6,415

(a)Balance includes a new corporate facility purchased during the three months ended September 30, 2021. Refer to Note 8 for additional information.

(b)Includes investments in FHLB stock of $224 million and $276 million at September 30, 2021, and December 31, 2020, respectively; FRB stock of $449 million at both September 30, 2021, and December 31, 2020; and equity securities without a readily determinable fair value of $258 million and $189 million at September 30, 2021, and December 31, 2020, respectively, measured at cost with adjustments for impairment and observable changes in price.

(c)During the three months and nine months ended September 30, 2021, we recorded $1 million and $83 million of upward adjustments related to equity securities without a readily determinable fair value still held at September 30, 2021, respectively, driven primarily by an investment in one entity for which there was a subsequent funding round at a higher valuation during the nine months ended September 30, 2021, resulting in an observable price change. During the nine months ended September 30, 2021, we recorded $1 million of impairments and downward adjustments related to equity securities without a readily determinable fair value still held at September 30, 2021, respectively. Securities held in our portfolio of equity securities without a readily determinable fair value as of September 30, 2021, include cumulative upward adjustments of $178 million and impairments and downward adjustments of $12 million through September 30, 2021.

(d)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.

(e)Primarily relates to investments made in connection with our CRA program.

(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 September 30, 2021, and December 31, 2020, and accumulated amortization of $72 million and $59 million at September 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 September 30, 2021	$	20	$	27	$	296	$	343

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