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Other Assets
 3 Months Ended
Mar. 31, 2023
Other Assets [Abstract]  
Other Assets Other Assets
The components of other assets were as follows.
($ in millions)March 31, 2023December 31, 2022
Property and equipment at cost$2,390 $2,352 
Accumulated depreciation(1,116)(1,076)
Net property and equipment1,274 1,276 
Investment in qualified affordable housing projects1,616 1,596 
Net deferred tax assets1,030 1,087 
Nonmarketable equity investments833 842 
Goodwill822 822 
Accrued interest, fees, and rent receivables807 786 
Restricted cash held for securitization trusts (a)740 585 
Equity-method investments (b)595 608 
Other accounts receivable153 164 
Operating lease right-of-use assets105 111 
Net intangible assets91 98 
Restricted cash and cash equivalents (c)75 66 
Other assets1,003 1,097 
Total other assets$9,144 $9,138 
(a)Includes restricted cash collected from customer payments on securitized receivables, which are distributed by us to investors as payments on the related secured debt, and cash reserve deposits utilized as a form of credit enhancement for various securitization transactions.
(b)Primarily relates to investments made in connection with our CRA program.
(c)Primarily represents a number of arrangements with third parties where certain restrictions are placed on balances we hold due to collateral agreements associated with operational processes with a third-party bank, or letter of credit arrangements and corresponding collateral requirements.
The total carrying value of the nonmarketable equity investments held at March 31, 2023, and December 31, 2022, including cumulative unrealized gains and losses, was as follows.
($ in millions)March 31, 2023December 31, 2022
FRB stock$396 $401 
FHLB stock324 318 
Equity investments without a readily determinable fair value
Cost basis at acquisition90 89 
Adjustments
Upward adjustments183 177 
Downward adjustments (including impairment)(160)(143)
Carrying amount, equity investments without a readily determinable fair value113 123 
Nonmarketable equity investments$833 $842 
During the three months ended March 31, 2023, and 2022, unrealized gains and losses included in the carrying value of the nonmarketable equity investments still held as of March 31, 2023, and 2022, were as follows.
Three months ended March 31,
($ in millions)20232022
Upward adjustments$5 $1 
Downward adjustments (including impairment) (a)(17)(2)
(a)No impairment on FHLB and FRB stock was recognized during the three months ended March 31, 2023, and 2022.
Total loss on nonmarketable equity investments, net, which includes both realized and unrealized gains and losses, were losses of $11 million and $1 million for the three months ended March 31, 2023, and March 31, 2022, respectively.
The carrying balance of goodwill by reportable operating segment was as follows.
($ in millions)Automotive Finance operationsInsurance operationsCorporate and Other (a)Total
Goodwill at December 31, 2021$20 $27 $775 $822 
Goodwill acquired— — — — 
Goodwill at December 31, 2022$20 $27 $775 $822 
Goodwill acquired— — — — 
Goodwill at March 31, 2023$20 $27 $775 $822 
(a)Includes $479 million of goodwill associated with Ally Credit Card at both March 31, 2023, and December 31, 2022, $153 million of goodwill associated with Ally Lending at both March 31, 2023, and December 31, 2022, and $143 million of goodwill associated with Ally Invest at both March 31, 2023, and December 31, 2022.
The net carrying value of intangible assets by class was as follows.
March 31, 2023 (a)December 31, 2022
($ in millions)Gross intangible assetsAccumulated amortizationNet carrying valueGross intangible assetsAccumulated amortizationNet carrying value
Technology$122 $(57)$65 $122 $(53)$69 
Customer lists58 (53)5 58 (51)7 
Purchased credit card relationships25 (5)20 25 (4)21 
Trademarks2 (1)1 2 (1)1 
Total intangible assets$207 $(116)$91 $207 $(109)$98 
(a)We expect to recognize amortization expense of $20 million during the remainder of 2023, $19 million in 2024, and $14 million in each of 2025, 2026, and 2027.