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Other Assets
 6 Months Ended
Jun. 30, 2023
Other Assets [Abstract]  
Other Assets Other Assets
The components of other assets were as follows.
($ in millions)June 30, 2023December 31, 2022
Property and equipment at cost$2,435 $2,352 
Accumulated depreciation(1,154)(1,076)
Net property and equipment1,281 1,276 
Investment in qualified affordable housing projects (a)1,642 1,596 
Net deferred tax assets1,087 1,087 
Nonmarketable equity investments870 842 
Accrued interest, fees, and rent receivables847 786 
Goodwill822 822 
Equity-method investments (b)621 608 
Restricted cash held for securitization trusts (c)590 585 
Other accounts receivable155 164 
Operating lease right-of-use assets98 111 
Net intangible assets85 98 
Restricted cash and cash equivalents (d)76 66 
Other assets979 1,097 
Total other assets$9,153 $9,138 
(a)Presented gross of the associated unfunded commitment. Refer to Note 13 for further information.
(b)Primarily relates to investments made in connection with our CRA program.
(c)Includes restricted cash collected from customer payments on securitized receivables, which are distributed by us to investors as payments on the related secured debt, and cash reserve deposits utilized as a form of credit enhancement for various securitization transactions.
(d)Primarily represents a number of arrangements with third parties where certain restrictions are placed on balances we hold due to collateral agreements associated with operational processes with a third-party bank, or letter of credit arrangements and corresponding collateral requirements.
The total carrying value of the nonmarketable equity investments held at June 30, 2023, and December 31, 2022, including cumulative unrealized gains and losses, was as follows.
($ in millions)June 30, 2023December 31, 2022
FRB stock$415 $401 
FHLB stock339 318 
Equity investments without a readily determinable fair value
Cost basis at acquisition92 89 
Adjustments
Upward adjustments184 177 
Downward adjustments (including impairment)(160)(143)
Carrying amount, equity investments without a readily determinable fair value116 123 
Nonmarketable equity investments$870 $842 
During the three months and six months ended June 30, 2023, and June 30, 2022, respectively, unrealized gains and losses included in the carrying value of the nonmarketable equity investments still held as of June 30, 2023, and June 30, 2022, were as follows.
Three months ended June 30,Six months ended June 30,
($ in millions)2023202220232022
Upward adjustments$1 $— $7 $1 
Downward adjustments (including impairment) (a)$— $— $(17)$(3)
(a)No impairment on FHLB and FRB stock was recognized during both the three months and six months ended June 30, 2023, and 2022.
Total gain (loss) on nonmarketable equity investments, net, which includes both realized and unrealized gains and losses, was a loss of $11 million for the six months ended June 30, 2023, compared to gains of $3 million and $2 million for the three months and six months ended June 30, 2022, respectively.
The carrying balance of goodwill by reportable operating segment was as follows.
($ 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 June 30, 2023
$20 $27 $775 $822 
(a)Includes $479 million of goodwill associated with Ally Credit Card at both June 30, 2023, and December 31, 2022, $153 million of goodwill associated with Ally Lending at both June 30, 2023, and December 31, 2022, and $143 million of goodwill associated with Ally Invest at both June 30, 2023, and December 31, 2022.
The net carrying value of intangible assets by class was as follows.
June 30, 2023 (a)
December 31, 2022
($ in millions)Gross intangible assetsAccumulated amortizationNet carrying valueGross intangible assetsAccumulated amortizationNet carrying value
Technology$122 $(61)$61 $122 $(53)$69 
Customer lists58 (54)4 58 (51)7 
Purchased credit card relationships25 (6)19 25 (4)21 
Trademarks2 (1)1 2 (1)1 
Total intangible assets$207 $(122)$85 $207 $(109)$98 
(a)We expect to recognize amortization expense of $12 million during the remainder of 2023, $19 million in 2024, and $14 million per year for 2025, 2026, and 2027.