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Parent Company Condensed Financial Information
 12 Months Ended
Dec. 31, 2021
Condensed Financial Information Disclosure [Abstract]  
Condensed Financial Information of Parent Company Only Disclosure Parent Company Condensed Financial Information
The following tables present standalone condensed financial statements for Ally Financial Inc. (referred to within this section as the Parent). These condensed statements are provided in accordance with SEC rules, which require disclosure when the restricted net assets of consolidated subsidiaries exceed 25% of consolidated net assets, and should be read in conjunction with the Consolidated Financial Statements and the accompanying Notes to the Consolidated Financial Statements. For purposes of these condensed financial statements, the Parent’s wholly-owned subsidiaries are presented in accordance with the equity method of accounting.
Condensed Statement of Comprehensive Income
Year ended December 31, ($ in millions)
202120202019
Net financing loss and other interest income$(1,070)$(1,049)$(1,116)
Dividends from bank subsidiaries3,450 1,150 1,950 
Dividends from nonbank subsidiaries27 66 436 
Total other revenue243 367 343 
Total net revenue2,650 534 1,613 
Provision for credit losses(106)(68)35 
Total noninterest expense650 693 626 
Income (loss) from continuing operations before income tax benefit and undistributed income of subsidiaries2,106 (91)952 
Income tax benefit from continuing operations (a)(412)(300)(566)
Net income from continuing operations2,518 209 1,518 
Loss from discontinued operations, net of tax(5)(1)(6)
Undistributed income of subsidiaries547 877 203 
Net income3,060 1,085 1,715 
Other comprehensive (loss) income, net of tax(789)508 654 
Comprehensive income$2,271 $1,593 $2,369 
(a)There is a significant variation in the customary relationship between pretax income (loss) and income tax benefit due to our accounting policy elections and other adjustments.
Condensed Balance Sheet
December 31, ($ in millions)
20212020
Assets
Cash and cash equivalents (a)$3,647 $4,482 
Equity securities6 — 
Finance receivables and loans, net of unearned income (b)663 913 
Allowance for loan losses26 (10)
Total finance receivables and loans, net689 903 
Investments in subsidiaries
Bank subsidiaries16,728 17,146 
Nonbank subsidiaries5,890 6,090 
Intercompany receivables from subsidiaries216 176 
Investment in operating leases, net21 5 
Other assets1,157 2,034 
Total assets$28,354 $30,836 
Liabilities and equity
Short-term borrowings$— $2,136 
Long-term debt (c)9,410 12,014 
Interest payable87 111 
Intercompany debt to subsidiaries1,040 1,375 
Intercompany payables to subsidiaries98 91 
Accrued expenses and other liabilities669 406 
Total liabilities11,304 16,133 
Total equity17,050 14,703 
Total liabilities and equity$28,354 $30,836 
(a)Includes $3.6 billion and $4.4 billion deposited by the Parent at Ally Bank as of December 31, 2021, and 2020, respectively. These funds are available to the Parent for liquidity purposes.
(b)The Parent advanced $207 million and $197 million to Ally Bank as of December 31, 2021, and 2020, respectively. These funds, included in finance receivables and loans, net, are available to the Parent for liquidity purposes.
(c)Includes $2.0 billion of the outstanding principal balance of senior notes fully and unconditionally guaranteed by subsidiaries of the Parent as of both December 31, 2021, and 2020.
Condensed Statement of Cash Flows
Year ended December 31, ($ in millions)
202120202019
Operating activities
Net cash provided by operating activities$3,753 $848 $1,818 
Investing activities
Proceeds from sales of finance receivables and loans initially held-for-investment378 1,187 548 
Originations and repayments of finance receivables and loans held-for-investment and other, net189 601 (253)
Net change in loans — intercompany(10)(36)718 
Purchases of equity securities(8)— — 
Disposals of operating lease assets— 1 3 
Capital contributions to subsidiaries— (8)(2)
Returns of contributed capital24 23 259 
Net change in nonmarketable equity investments29 (7)(13)
Other, net44 (15)(4)
Net cash provided by investing activities646 1,746 1,256 
Financing activities
Net change in short-term borrowings(2,136)(445)104 
Proceeds from issuance of long-term debt765 2,885 801 
Repayments of long-term debt(777)(2,444)(2,173)
Net change in debt — intercompany(336)169 271 
Repurchase of common stock(1,994)(106)(1,039)
Preferred stock issuance2,324 — — 
Trust preferred securities redemption(2,710)— — 
Common stock dividends paid(324)(290)(273)
Preferred stock dividends paid(57)— — 
Net cash used in financing activities(5,245)(231)(2,309)
Net (decrease) increase in cash and cash equivalents and restricted cash(846)2,363 765 
Cash and cash equivalents and restricted cash at beginning of year4,526 2,163 1,398 
Cash and cash equivalents and restricted cash at end of year$3,680 $4,526 $2,163 
The following table provides a reconciliation of cash and cash equivalents and restricted cash from the Condensed Balance Sheet to the Condensed Statement of Cash Flows.
Year ended December 31, ($ in millions)
20212020
Cash and cash equivalents on the Condensed Balance Sheet $3,647 $4,482 
Restricted cash included in other assets on the Condensed Balance Sheet (a)33 44 
Total cash and cash equivalents and restricted cash in the Condensed Statement of Cash Flows$3,680 $4,526 
(a)Restricted cash balances relate primarily to Ally securitization arrangements. Refer to Note 13 for additional details describing the nature of restricted cash balances.