
($ in millions)	March 31, 2024		December 31, 2023

Property and equipment at cost (a)	$	2,160	$	2,153
Accumulated depreciation (a)	(890)		(871)
Net property and equipment	1,270		1,282
Proportional amortization investments (b) (c)	1,877		1,866
Net deferred tax assets	1,323		1,224
Accrued interest, fees, and rent receivables (d)	941		935
Nonmarketable equity investments	747		886
Goodwill	669		669
Equity-method investments (b) (e)	638		651
Restricted cash held for securitization trusts (f)	397		407

Other accounts receivable	193		189
Operating lease right-of-use assets	98		90
Restricted cash and cash equivalents (g)	90		87
Net intangible assets	67		73

Other assets	1,038		1,036
Total other assets (h)	$	9,348	$	9,395

(a)During the year ended December 31, 2023, we retired software with a cost basis of $295 million with an accumulated depreciation of $295 million.

(b)Proportional amortization investments includes qualifying LIHTC, NMTC, and HTC investments as of March 31, 2024. Prior to the adoption of ASU 2023-02 on January 1, 2024, NMTC and HTC investments were included in equity-method investments. Refer to Note 1 to the Condensed Consolidated Financial Statements for additional information.

(d)Primarily relates to accrued interest, fees, and rent receivables related to our consumer automotive and commercial automotive finance receivables and loans.

(f)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.

(g)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.

(h)Excludes Ally Lending other assets which were transferred to assets of operations held-for-sale as of December 31, 2023. We closed the sale of Ally Lending on March 1, 2024. Refer to Note 2 for additional information.

We elected to apply the proportional amortization method to qualifying tax equity investments within our LIHTC, NMTC, and HTC programs upon adoption of ASU 2023-02 on January 1, 2024. Prior to adoption, the proportional amortization method applied to our qualifying LIHTC investments only. Refer to Note 1 for additional information.


	Three months ended March 31,
($ in millions)	2024		2023
Tax credits and other tax benefits from proportional amortization investments (a) (b)	$	39	$	47
Investment amortization expense recognized as a component of income tax expense (a)	32		38
Net benefit from proportional amortization investments (a)	$	7	$	9

(a)Amounts are included within income tax expense from continued operations on our Condensed Consolidated Statement of Comprehensive (Loss) Income and as a component of operating activities within deferred income taxes, other assets, and other liabilities on our Condensed Consolidated Statement of Cash Flows.

(b)There were no impairment losses recognized during both the three months ended March 31, 2024, and 2023, resulting from the forfeiture or ineligibility of tax credits or other circumstances.

Our proportional amortization investments were $1.9 billion at both March 31, 2024, and December 31, 2023, and are included within other assets on our Condensed Consolidated Balance Sheet. Additionally, unfunded commitments to provide additional capital to proportional amortization investments were $917 million and $973 million at March 31, 2024, and December 31, 2023, respectively, and are included within accrued expenses and other liabilities on our Condensed Consolidated Balance Sheet. Substantially all of the unfunded commitments at March 31, 2024, are expected to be paid out within the next five years.

The total carrying value of the nonmarketable equity investments held at March 31, 2024, and December 31, 2023, including cumulative unrealized gains and losses, was as follows.


($ in millions)	March 31, 2024		December 31, 2023
FRB stock	$	411	$	392
FHLB stock	230		392
Equity investments without a readily determinable fair value
Cost basis at acquisition	76		74
Adjustments
Upward adjustments	53		51
Downward adjustments (including impairment)	(23)		(23)
Carrying amount, equity investments without a readily determinable fair value	106		102
Nonmarketable equity investments	$	747	$	886

During the three months ended March 31, 2024, and 2023, unrealized gains and losses included in the carrying value of the nonmarketable equity investments still held as of March 31, 2024, and 2023, were as follows.


	Three months ended March 31,
($ in millions)		2024		2023
Upward adjustments		$	1	$	5
Downward adjustments (including impairment) (a)		$	—	$	(17)

Total gain on nonmarketable equity investments, net, which includes both realized and unrealized gains and losses, was a net gain of $2 million for the three months ended March 31, 2024, compared to a net loss of $11 million for the three months ended March 31, 2023.


($ in millions)	Automotive Finance operations		Insurance operations		Corporate and Other (a)		Total
Goodwill at December 31, 2022	$	20	$	27	$	775	$	822
Goodwill impairment	—		—		(149)		(149)
Transfer to assets of operations held-for-sale	—		—		(4)		(4)
Goodwill at December 31, 2023	$	20	$	27	$	622	$	669
Goodwill acquired	—		—		—		—


Goodwill at March 31, 2024	$	20	$	27	$	622	$	669

(a)Includes $479 million of goodwill associated with Ally Credit Card at both March 31, 2024, and December 31, 2023, and $143 million of goodwill associated with Ally Invest at both March 31, 2024, and December 31, 2023.

During the year ended December 31, 2023, we recognized a $149 million impairment of goodwill at Corporate and Other related to the transfer of Ally Lending to held-for-sale. Subsequent to the impairment charge, the goodwill balance of $4 million was transferred to assets of operations held-for-sale on the Condensed Consolidated Balance Sheet. We closed the sale of Ally Lending on March 1, 2024. For additional information, refer to Note 2.


	March 31, 2024						December 31, 2023
($ in millions)	Gross intangible assets		Accumulated amortization		Net carrying value		Gross intangible assets		Accumulated amortization		Net carrying value
Technology	$	117	$	(68)	$	49	$	117	$	(64)	$	53
Customer lists	41		(40)		1		41		(39)		2
Purchased credit card relationships	25		(8)		17		25		(7)		18

Trademarks	2		(2)		—		2		(2)		—

Total intangible assets (a)	$	185	$	(118)	$	67	$	185	$	(112)	$	73

(a)Excludes $22 million of gross intangible assets and $22 million of accumulated amortization that were transferred to assets of operations held-for-sale related to Ally Lending as of December 31, 2023. The sale was closed on March 1, 2024. Refer to Note 2 for additional information.