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Parent Company Condensed Financial Information
 12 Months Ended
Dec. 31, 2022
Condensed Financial Information Disclosure [Abstract]  
Parent Company Condensed Financial Information 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 (Loss) Income
Year ended December 31, ($ in millions)
202220212020
Net financing loss and other interest income (a)$(1,000)$(1,070)$(1,049)
Dividends from bank subsidiaries3,150 3,450 1,150 
Dividends from nonbank subsidiaries1 27 66 
Total other revenue103 243 367 
Total net revenue2,254 2,650 534 
Provision for credit losses(32)(106)(68)
Total noninterest expense665 650 693 
Income (loss) from continuing operations before income tax benefit and undistributed (loss) income of subsidiaries1,621 2,106 (91)
Income tax benefit from continuing operations (b)(253)(412)(300)
Net income from continuing operations1,874 2,518 209 
Loss from discontinued operations, net of tax(1)(5)(1)
Equity in undistributed earnings of subsidiaries(159)547 877 
Net income1,714 3,060 1,085 
Other comprehensive (loss) income, net of tax(3,901)(789)508 
Comprehensive (loss) income$(2,187)$2,271 $1,593 
(a)Net financing loss and other interest income is primarily driven by interest expense on long-term debt. Refer to Note 15 for further discussion.
(b)There is a significant variation in the customary relationship between pretax income (loss) and income tax benefit due to our accounting policy elections and consolidated tax adjustments. The income tax benefit excludes tax effects on dividends from subsidiaries.
Condensed Balance Sheet
December 31, ($ in millions)
20222021
Assets
Cash and cash equivalents (a)$3,333 $3,647 
Equity securities— 6 
Finance receivables and loans, net of unearned income560 663 
Allowance for loan losses23 26 
Total finance receivables and loans, net583 689 
Investments in subsidiaries
Bank subsidiaries13,197 16,728 
Nonbank subsidiaries5,191 5,890 
Intercompany receivables from subsidiaries223 216 
Investment in operating leases, net21 21 
Other assets1,307 1,157 
Total assets$23,855 $28,354 
Liabilities and equity
Long-term debt (b)$10,035 $9,410 
Interest payable84 87 
Intercompany debt to subsidiaries545 1,040 
Intercompany payables to subsidiaries41 98 
Accrued expenses and other liabilities291 669 
Total liabilities10,996 11,304 
Total equity12,859 17,050 
Total liabilities and equity$23,855 $28,354 
(a)Includes $3.3 billion and $3.6 billion deposited by the Parent at Ally Bank as of December 31, 2022, and 2021, respectively. These funds are available to the Parent for liquidity purposes.
(b)Includes $2.0 billion of the outstanding principal balance of senior notes fully and unconditionally guaranteed by subsidiaries of the Parent as of both December 31, 2022, and 2021.
Condensed Statement of Cash Flows
Year ended December 31, ($ in millions)
202220212020
Operating activities
Net cash provided by operating activities$1,733 $3,753 $848 
Investing activities
Proceeds from sales of finance receivables and loans initially held-for-investment64 378 1,187 
Originations and repayments of finance receivables and loans held-for-investment and other, net(7)189 601 
Net change in loans — intercompany(65)(10)(36)
Purchases of equity securities— (8)— 
Proceeds from sales of equity securities1 — — 
Disposals of operating lease assets— — 1 
Capital contributions to subsidiaries— — (8)
Returns of contributed capital52 24 23 
Net change in nonmarketable equity investments8 29 (7)
Other, net(27)44 (15)
Net cash provided by investing activities26 646 1,746 
Financing activities
Net change in short-term borrowings— (2,136)(445)
Proceeds from issuance of long-term debt1,655 765 2,885 
Repayments of long-term debt(1,088)(777)(2,444)
Net change in debt — intercompany(496)(336)169 
Repurchase of common stock(1,650)(1,994)(106)
Preferred stock issuance— 2,324 — 
Trust preferred securities redemption— (2,710)— 
Common stock dividends paid(384)(324)(290)
Preferred stock dividends paid(110)(57)— 
Net cash used in financing activities(2,073)(5,245)(231)
Net (decrease) increase in cash and cash equivalents and restricted cash(314)(846)2,363 
Cash and cash equivalents and restricted cash at beginning of year3,680 4,526 2,163 
Cash and cash equivalents and restricted cash at end of year$3,366 $3,680 $4,526 
The following table provides a reconciliation of cash and cash equivalents and restricted cash from the Condensed Balance Sheet to the Condensed Statement of Cash Flows.
Year ended December 31, ($ in millions)
20222021
Cash and cash equivalents on the Condensed Balance Sheet $3,333 $3,647 
Restricted cash included in other assets on the Condensed Balance Sheet (a)33 33 
Total cash and cash equivalents and restricted cash in the Condensed Statement of Cash Flows$3,366 $3,680 
(a)Restricted cash balances relate primarily to Ally securitization arrangements. Refer to Note 13 for additional details describing the nature of restricted cash balances.