Other Assets (Tables)

9 Months Ended

Sep. 30, 2022

Other Assets [Abstract]

Schedule of Other Assets

The components of other assets were as follows.

($ 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.

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

(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.

Summary of Equity Securities without Readily Determinable Fair Value

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)

(a)No impairment on FHLB and FRB stock was recognized during both the three months and nine months ended September 30, 2022, and 2021.

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
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.

Schedule of Finite-Lived Intangible Assets

The net carrying value of intangible assets by class was as follows.

	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.