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Other Assets
 12 Months Ended
Dec. 31, 2021
Other Assets [Abstract]  
Other Assets Other Assets
The components of other assets were as follows.
December 31, ($ in millions)
20212020
Property and equipment at cost (a)$2,139 $1,541 
Accumulated depreciation(955)(815)
Net property and equipment1,184 726 
Investment in qualified affordable housing projects1,378 1,095 
Nonmarketable equity investments998 915 
Goodwill822 343 
Accrued interest, fees, and rent receivables600 704 
Restricted cash held for securitization trusts (b)516 875 
Equity-method investments (c)472 320 
Net deferred tax assets254 94 
Operating lease right-of-use assets148 162 
Net intangible assets129 50 
Other accounts receivable127 166 
Restricted cash and cash equivalents (d)92 78 
Other assets1,337 887 
Total other assets$8,057 $6,415 
(a)Balance includes a new corporate facility purchased during the year ended December 31, 2021. Refer to Note 10 for additional information.
(b)Includes restricted cash collected from customer payments on securitized receivables, which are distributed by us to investors as payments on the related secured debt, and cash reserve deposits utilized as a form of credit enhancement for various securitization transactions.
(c)Primarily relates to investments made in connection with our CRA program.
(d)Primarily represents a number of arrangements with third parties where certain restrictions are placed on balances we hold due to collateral agreements associated with operational processes with a third-party bank, or letter of credit arrangements and corresponding collateral requirements.
The total carrying value of the nonmarketable equity investments held at December 31, 2021, and 2020, including cumulative unrealized gains and losses was as follows.
December 31, ($ in millions)
20212020
FHLB stock$289 $276 
FRB stock449 449 
Equity securities without a readily determinable fair value
Cost basis89 87 
Adjustments
Upward adjustments183 115 
Downward adjustments (including impairment)(12)(12)
Carrying amount, equity securities without a readily determinable fair value260 190 
Nonmarketable equity investments$998 $915 
During the years ended December 31, 2021, and 2020, unrealized gains and losses included in the carrying value of the nonmarketable equity investments still held as of December 31, 2021, and 2020, were as follows.
Year ended December 31, ($ in millions)
20212020
Upward adjustments$88 $105 
Downward adjustments (including impairment) (a)(1)(6)
(a) No impairment on FHLB and FRB stock was recognized during both the years ended December 31, 2021, and 2020.
Total gain on nonmarketable equity investments, net, which includes both realized and unrealized gains and losses was $142 million and $99 million at December 31, 2021, and December 31, 2020, respectively.
The carrying balance of goodwill by reportable operating segment was as follows.
($ in millions)Automotive Finance operationsInsurance operationsCorporate and Other (a)Total
Goodwill at December 31, 2019$20 $27 $346 $393 
Impairment losses— — (50)(50)
Goodwill at December 31, 2020$20 $27 $296 $343 
Goodwill acquired— — 479 479 
Goodwill at December 31, 2021$20 $27 $775 $822 
(a)Includes $479 million of goodwill associated with Fair Square at December 31, 2021, $153 million of goodwill associated with Ally Lending at both December 31, 2021, and December 31, 2020, and $143 million of goodwill associated with Ally Invest at both December 31, 2021, and December 31, 2020.
During the year ended December 31, 2020, we recognized a $50 million impairment of goodwill at Ally Invest. The recognition of this impairment was the result of certain business developments that impacted the expected growth and timing of revenue at Ally Invest, which constituted a triggering event for goodwill testing purposes. We used a combination of valuation methodologies, including discounted cash flow and comparable transaction analyses, to determine the fair market value of Ally Invest as of the April 30, 2020, valuation date and determined that the carrying value exceeded fair market value, resulting in the impairment charge in the second quarter of 2020.
The net carrying value of intangible assets by class was as follows.
2021 (a)2020
December 31, ($ in millions)
Gross intangible assetsAccumulated amortizationNet carrying valueGross intangible assetsAccumulated amortizationNet carrying value
Technology$83 $(9)$74 $12 $(6)$6 
Customer lists58 (42)16 58 (31)27 
Purchased credit card relationships25 — 25 — — — 
Trademarks2 — 2 — — — 
Other39 (27)12 39 (22)17 
Total intangible assets$207 $(78)$129 $109 $(59)$50 
(a)We expect to recognize amortization expense of $31 million in 2022, $25 million in 2023, $18 million in 2024, $14 million in 2025, and $14 million in 2026.