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Revenue from Contracts with Customers (Tables)
 9 Months Ended
Sep. 30, 2023
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following tables present 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 September 30,
($ in millions)
Automotive Finance operationsInsurance operationsMortgage Finance operationsCorporate Finance operationsCorporate and OtherConsolidated
2023
Revenue from contracts with customers
Noninsurance contracts (a) (b) (c)$— $173 $— $— $— $173 
Remarketing fee income27 — — — — 27 
Brokerage commissions and other revenue— — — — 23 23 
Banking fees and interchange income (d)— — — — 10 10 
Brokered/agent commissions— 3 — — — 3 
Other5 1 — — — 6 
Total revenue from contracts with customers
32 177 — — 33 242 
All other revenue
47 116 4 24 2 193 
Total other revenue (e)$79 $293 $4 $24 $35 $435 
2022
Revenue from contracts with customers
Noninsurance contracts (a) (b) (c)$— $164 $— $— $— $164 
Remarketing fee income26 — — — — 26 
Brokerage commissions and other revenue— — — — 18 18 
Banking fees and interchange income (d)— — — — 11 11 
Brokered/agent commissions— 3 — — — 3 
Other5 — — — 1 6 
Total revenue from contracts with customers
31 167 — — 30 228 
All other revenue43 69 7 54 (104)69 
Total other revenue (e)$74 $236 $7 $54 $(74)$297 
(a)We had opening balances of $3.0 billion in unearned revenue associated with outstanding contracts at both July 1, 2023, and 2022, and $249 million and $236 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 September 30, 2023, and 2022, respectively.
(b)At September 30, 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 $238 million during the remainder of 2023, $845 million in 2024, $683 million in 2025, $513 million in 2026, and $695 million thereafter. At September 30, 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 July 1, 2023, and September 30, 2023, and recognized $148 million of expense during the three months ended September 30, 2023. We had deferred insurance assets of $1.8 billion at both July 1, 2022, and September 30, 2022, and recognized $143 million of expense during the three months ended September 30, 2022.
(d)Interchange income is reported net of customer rewards. Customer rewards expense was $5 million and $4 million for the three months ended September 30, 2023, and 2022, respectively.
(e)Represents a component of total net revenue. Refer to Note 22 for further information on our reportable operating segments.
Nine months ended September 30,
($ in millions)
Automotive Finance operationsInsurance operationsMortgage Finance operationsCorporate Finance operationsCorporate and OtherConsolidated
2023
Revenue from contracts with customers
Noninsurance contracts (a) (b)$— $513 $— $— $— $513 
Remarketing fee income91 — — — — 91 
Brokerage commissions and other revenue— — — — 69 69 
Banking fees and interchange income (c)— — — — 31 31 
Brokered/agent commissions— 10 — — — 10 
Other15 1 — — — 16 
Total revenue from contracts with customers
106 524 — — 100 730 
All other revenue
133 487 13 81 (5)709 
Total other revenue (d)$239 $1,011 $13 $81 $95 $1,439 
2022
Revenue from contracts with customers
Noninsurance contracts (a) (b)$— $489 $— $— $— $489 
Remarketing fee income82 — — — — 82 
Brokerage commissions and other revenue— — — — 42 42 
Banking fees and interchange income (c)— — — — 32 32 
Brokered/agent commissions— 11 — — — 11 
Other16 — — — 3 19 
Total revenue from contracts with customers
98 500 — — 77 675 
All other revenue116 164 25 97 (26)376 
Total other revenue (d)$214 $664 $25 $97 $51 $1,051 
(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 $733 million and $701 million of these balances were recognized as insurance premiums and service revenue earned in our Condensed Consolidated Statement of Comprehensive Income during the nine months ended September 30, 2023, and 2022, respectively.
(b)We had deferred insurance assets of $1.8 billion at both January 1, 2023, and September 30, 2023, and recognized $436 million of expense during the nine months ended September 30, 2023. We had deferred insurance assets of $1.9 billion and $1.8 billion at January 1, 2022, and September 30, 2022, respectively, and recognized $420 million of expense during the nine months ended September 30, 2022.
(c)Interchange income is reported net of customer rewards. Customer rewards expense was $14 million and $10 million for the nine months ended September 30, 2023, and 2022, respectively.
(d)Represents a component of total net revenue. Refer to Note 22 for further information on our reportable operating segments.