Revenue from Contracts with Customers (Tables)

3 Months Ended

Mar. 31, 2023

Revenue from Contract with Customer [Abstract]

The following table presents a disaggregated view of our revenue from contracts with customers. For further information regarding our revenue recognition policies and details about the nature of our respective revenue streams, refer to Note 1 and Note 3 to the Consolidated Financial Statements in our 2022 Annual Report on Form 10-K.


Three months ended March 31, ($ in millions)	Automotive Finance operations		Insurance operations		Mortgage Finance operations		Corporate Finance operations		Corporate and Other		Consolidated
2023
Revenue from contracts with customers
Noninsurance contracts (a) (b) (c)	$	—	$	169	$	—	$	—	$	—	$	169
Remarketing fee income	33		—		—		—		—		33
Brokerage commissions and other revenue	—		—		—		—		23		23
Banking fees and interchange income (d)	—		—		—		—		10		10
Brokered/agent commissions	—		3		—		—		—		3
Other	5		—		—		—		—		5
Total revenue from contracts with customers	38		172		—		—		33		243
All other revenue	39		209		4		29		(26)		255
Total other revenue (e)	$	77	$	381	$	4	$	29	$	7	$	498
2022
Revenue from contracts with customers
Noninsurance contracts (a) (b) (c)	$	—	$	162	$	—	$	—	$	—	$	162
Remarketing fee income	27		—		—		—		—		27
Brokerage commissions and other revenue	—		—		—		—		11		11
Banking fees and interchange income (d)	—		—		—		—		11		11
Brokered/agent commissions	—		4		—		—		—		4
Other	5		—		—		—		1		6
Total revenue from contracts with customers	32		166		—		—		23		221
All other revenue	36		104		14		24		43		221
Total other revenue (e)	$	68	$	270	$	14	$	24	$	66	$	442

(a)We had opening balances of $3.0 billion and $3.1 billion in unearned revenue associated with outstanding contracts at January 1, 2023, and 2022, respectively, and $241 million and $231 million of these balances were recognized as insurance premiums and service revenue earned in our Condensed Consolidated Statement of Comprehensive Income during the three months ended March 31, 2023, and 2022, respectively.

(b)At March 31, 2023, we had unearned revenue of $3.0 billion associated with outstanding contracts, and with respect to this balance we expect to recognize revenue of $680 million during the remainder of 2023, $779 million in 2024, $604 million in 2025, $423 million in 2026, and $481 million thereafter. At March 31, 2022, we had unearned revenue of $3.0 billion associated with outstanding contracts.

(c)We had deferred insurance assets of $1.8 billion at both March 31, 2023, and December 31, 2022, and recognized $144 million of expense during the three months ended March 31, 2023. We had deferred insurance assets of $1.8 billion and $1.9 billion at March 31, 2022, and December 31, 2021, respectively, and recognized $137 million of expense during the three months ended March 31, 2022.

(d)Interchange income is reported net of customer rewards. Customer rewards expense was $4 million and $3 million for the three months ended March 31, 2023, and 2022, respectively.

(e)Represents a component of total net revenue. Refer to Note 22 for further information on our reportable operating segments.