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Other Assets
 3 Months Ended
Mar. 31, 2022
Other Assets [Abstract]  
Other Assets Other Assets
The components of other assets were as follows.
($ in millions)March 31, 2022December 31, 2021
Property and equipment at cost (a)$2,178 $2,139 
Accumulated depreciation(980)(955)
Net property and equipment1,198 1,184 
Investment in qualified affordable housing projects1,373 1,378 
Nonmarketable equity investments1,116 998 
Goodwill822 822 
Net deferred tax assets625 254 
Accrued interest, fees, and rent receivables609 600 
Restricted cash held for securitization trusts (b)583 516 
Equity-method investments (c)544 472 
Other accounts receivable293 127 
Net intangible assets121 129 
Operating lease right-of-use assets111 148 
Restricted cash and cash equivalents (d)100 92 
Finance lease right-of-use assets (e)44 — 
Other assets1,418 1,337 
Total other assets$8,957 $8,057 
(a)Balance includes a new corporate facility purchased during the year ended December 31, 2021. Refer to Note 9 for additional information.
(b)Includes restricted cash collected from customer payments on securitized receivables, which are distributed by us to investors as payments on the related secured debt, and cash reserve deposits utilized as a form of credit enhancement for various securitization transactions.
(c)Primarily relates to investments made in connection with our CRA program.
(d)Primarily represents a number of arrangements with third parties where certain restrictions are placed on balances we hold due to collateral agreements associated with operational processes with a third-party bank, or letter of credit arrangements and corresponding collateral requirements.
(e)For additional information on finance lease right-of-use assets, refer to Note 9.
The total carrying value of the nonmarketable equity investments held at March 31, 2022, and December 31, 2021, including cumulative unrealized gains and losses was as follows.
($ in millions)March 31, 2022December 31, 2021
FHLB stock$407 $289 
FRB stock449 449 
Equity securities without a readily determinable fair value
Cost basis90 89 
Adjustments
Upward adjustments183 183 
Downward adjustments (including impairment)(13)(12)
Carrying amount, equity securities without a readily determinable fair value260 260 
Nonmarketable equity investments$1,116 $998 
During the three months ended March 31, 2022, and 2021, unrealized gains and losses included in the carrying value of the nonmarketable equity investments still held as of March 31, 2022, and 2021, were as follows.
Three months ended March 31,
($ in millions)20222021
Upward adjustments$1 $2 
Downward adjustments (including impairment) (a)$(2)$(1)
(a)No impairment on FHLB and FRB stock was recognized during both the three months ended March 31, 2022, and 2021.
Total (loss) gain on nonmarketable equity investments, net, which includes both realized and unrealized gains and losses was a loss of $1 million and a gain of $4 million for the three months ended March 31, 2022, and March 31, 2021, respectively.
The carrying balance of goodwill by reportable operating segment was as follows.
($ in millions)Automotive Finance operationsInsurance operationsCorporate and Other (a)Total
Goodwill at December 31, 2020$20 $27 $296 $343 
Goodwill acquired— — 479 479 
Goodwill at December 31, 2021$20 $27 $775 $822 
Goodwill acquired— — — — 
Goodwill at March 31, 2022$20 $27 $775 $822 
(a)Includes $479 million of goodwill associated with Ally Credit Card at both March 31, 2022, and December 31, 2021, and $153 million of goodwill associated with Ally Lending at both March 31, 2022, and December 31, 2021, and $143 million of goodwill associated with Ally Invest at both March 31, 2022, and December 31, 2021.
The net carrying value of intangible assets by class was as follows.
March 31, 2022 (a)December 31, 2021
($ in millions)Gross intangible assetsAccumulated amortizationNet carrying valueGross intangible assetsAccumulated amortizationNet carrying value
Technology$83 $(12)$71 $83 $(9)$74 
Customer lists58 (44)14 58 (42)16 
Purchased credit card relationships25 (1)24 25 — 25 
Trademarks2 — 2 2 — 2 
Other39 (29)10 39 (27)12 
Total intangible assets$207 $(86)$121 $207 $(78)$129 
(a)We expect to recognize amortization expense of $23 million during the remainder of 2022, $25 million in 2023, $18 million in 2024, $14 million in 2025, and $14 million in 2026.