

($ in millions)	September 30, 2022		December 31, 2021
Property and equipment at cost	$	2,331	$	2,139
Accumulated depreciation	(1,063)		(955)
Net property and equipment	1,268		1,184
Investment in qualified affordable housing projects	1,520		1,378
Net deferred tax assets	1,255		254
Nonmarketable equity investments	1,130		998
Goodwill	822		822
Accrued interest, fees, and rent receivables	702		600
Restricted cash held for securitization trusts (a)	639		516
Equity-method investments (b)	576		472

Other accounts receivable	159		127
Operating lease right-of-use assets	115		148
Net intangible assets	104		129
Restricted cash and cash equivalents (c)	79		92

Other assets	974		1,337
Total other assets	$	9,343	$	8,057

(a)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 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 September 30, 2022, and December 31, 2021, including cumulative unrealized gains and losses was as follows.


($ in millions)	September 30, 2022		December 31, 2021
FHLB stock	$	571	$	289
FRB stock	439		449
Equity investments without a readily determinable fair value
Cost basis at acquisition	86		89
Adjustments
Upward adjustments	178		183
Downward adjustments (including impairment)	(144)		(12)
Carrying amount, equity investments without a readily determinable fair value	120		260
Nonmarketable equity investments	$	1,130	$	998

During the three months and nine months ended September 30, 2022, and September 30, 2021, unrealized gains and losses included in the carrying value of the nonmarketable equity investments still held as of September 30, 2022, and September 30, 2021, were as follows.


	Three months ended September 30,				Nine months ended September 30,
($ in millions)	2022		2021		2022		2021
Upward adjustments	$	—	$	1	$	1	$	83
Downward adjustments (including impairment) (a)	$	(137)	$	—	$	(140)	$	(1)

Total (loss) gain on nonmarketable equity investments, net, which includes both realized and unrealized gains and losses, were losses of $135 million and $133 million for the three months and nine months ended September 30, 2022, respectively, compared to gains of $1 million and $104 million for the three months and nine months ended September 30, 2021.

The downward adjustments (including impairment) during the three months and nine months ended September 30, 2022, were primarily driven by an impairment in our investment in the parent of BMC (BMC Holdco) during the third quarter of 2022.

•During 2021, we sold a portion of our investment in BMC Holdco for proceeds of $45 million and realized gains totaling $38 million. In addition, during 2021, BMC Holdco and Aurora Acquisition Corp (Aurora) announced several agreements relevant to the valuation of our remaining investment in BMC Holdco.

◦BMC Holdco entered into a merger agreement (together with all 2021 amendments, the Merger Agreement) with Aurora that provides for our remaining investment in BMC Holdco to be converted into publicly traded common stock of the entity surviving the merger. The Merger Agreement established a price per share reflecting a pre-money equity valuation of approximately $6.9 billion for BMC Holdco and included an Agreement End Date (as defined in the Merger Agreement) of September 30, 2022.

◦BMC Holdco and Aurora entered into a bridge note purchase agreement with investors to issue debt (the Notes) that converts into publicly traded common stock of the entity surviving the merger as contemplated by the Merger Agreement.

•During the third quarter of 2022, BMC Holdco and Aurora announced a further amendment of the Merger Agreement that extends the Agreement End Date to March 8, 2023. Contemporaneously, BMC Holdco and Aurora entered into a letter agreement with one of its existing investors that, in part and subject to specified conditions, (i) extends the maturity date of the investor’s Notes to March 8, 2023, and (ii) without limiting the investor’s rights under the bridge note purchase agreement, if the merger has not been consummated by the maturity date of the Notes, provides the investor with an option to alternatively exchange its Notes for Class B common stock and preferred stock of BMC Holdco at specified valuations.

The letter agreement was a triggering event to assess our remaining investment in BMC Holdco for impairment. We recognized an impairment charge on this investment of $136 million during the three months ended September 30, 2022. As of September 30, 2022, both the cost basis at acquisition and the carrying value of this investment were $19 million. The carrying value of this investment reflects cumulative upward adjustments of $136 million and cumulative downward adjustments (including impairment) of $136 million since acquisition.


($ in millions)	Automotive Finance operations		Insurance operations		Corporate 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 September 30, 2022	$	20	$	27	$	775	$	822

(a)Includes $479 million of goodwill associated with Ally Credit Card at both September 30, 2022, and December 31, 2021, and $153 million of goodwill associated with Ally Lending at both September 30, 2022, and December 31, 2021, and $143 million of goodwill associated with Ally Invest at both September 30, 2022, and December 31, 2021.


	September 30, 2022 (a)						December 31, 2021
($ in millions)	Gross intangible assets		Accumulated amortization		Net carrying value		Gross intangible assets		Accumulated amortization		Net carrying value
Technology	$	122	$	(49)	$	73	$	122	$	(36)	$	86
Customer lists	58		(50)		8		58		(42)		16
Purchased credit card relationships	25		(3)		22		25		—		25

Trademarks	2		(1)		1		2		—		2

Total intangible assets	$	207	$	(103)	$	104	$	207	$	(78)	$	129

(a)We expect to recognize amortization expense of $7 million during the remainder of 2022, $25 million in 2023, $18 million in 2024, $14 million in 2025, and $14 million in 2026.