Held-for-sale Operations (Tables)

6 Months Ended

Jun. 30, 2024

Discontinued Operations and Disposal Groups [Abstract]

Schedule of Assets and Liabilities of Operations Held-for-Sale

The assets and liabilities of operations held-for-sale are summarized below.

($ in millions)	December 31, 2023
Assets
Loans held-for-sale, net	$	1,940
Other assets (a)	35
Total assets	$	1,975
Liabilities
Accrued expenses and other liabilities (b)	$	17
Total liabilities	$	17

(a)Primarily includes accrued interest and fees of $25 million, goodwill of $4 million, and property and equipment of $4 million at December 31, 2023.

(b)Includes $5 million for reserves for unfunded lending commitments at December 31, 2023.

Schedule of Fair Value Measurements - Nonrecurring Basis

The following table displays assets and liabilities of our held-for-sale operations measured at fair value on a nonrecurring basis and held at December 31, 2023. The disposal group was sold on March 1, 2024. Refer to Note 21 for descriptions of valuation methodologies used to measure material assets at fair value and details of the valuation models, key inputs to these models, and significant assumptions used.

	Nonrecurring fair value measurements								Lower-of-cost-or-fair-value reserve, valuation reserve, or cumulative adjustments		Total gain (loss) included in earnings
December 31, 2023 ($ in millions)	Level 1		Level 2		Level 3		Total
Assets
Loans held-for-sale, net	$	—	$	1,940	$	—	$	1,940	$	—	n/m	(a)
Other assets (b)	—		35		—		35		(149)		n/m	(a)
Total assets	$	—	$	1,975	$	—	$	1,975	$	(149)	n/m
Liabilities
Accrued expenses and other liabilities	$	—	$	17	$	—	$	17	$	—	n/m	(a)
Total liabilities	$	—	$	17	$	—	$	17	$	—	n/m

n/m = not meaningful

(a)We consider the applicable valuation allowance, allowance for loan losses, or cumulative adjustments to be the most relevant indicator of the impact on earnings caused by the fair value measurement. Accordingly, the table above excludes total gains and losses included in earnings for these items.

(b)Includes a $149 million impairment of goodwill at Ally Lending. At the time of impairment, the fair value of goodwill at Ally Lending was classified as Level 2 under the fair value hierarchy.

The following tables display assets and liabilities measured at fair value on a nonrecurring basis and still held at June 30, 2024, and December 31, 2023, respectively. The amounts are generally as of the end of each period presented, which approximate the fair value measurements that occurred during each period. These tables exclude assets of operations held-for-sale, refer to Note 2 for additional information.

	Nonrecurring fair value measurements								Lower-of-cost-or-fair-value reserve, valuation reserve, or cumulative adjustments		Total gain (loss) included in earnings
June 30, 2024 ($ in millions)	Level 1		Level 2		Level 3		Total
Assets
Loans held-for-sale, net	$	—	$	—	$	159	$	159	$	—	n/m	(a)
Commercial finance receivables and loans, net (b)
Automotive	—		—		14		14		—		n/m	(a)
Other	—		—		44		44		(47)		n/m	(a)
Total commercial finance receivables and loans, net	—		—		58		58		(47)		n/m	(a)
Other assets
Nonmarketable equity investments	—		—		8		8		6		n/m	(a)
Repossessed and foreclosed assets (c)	—		—		6		6		(1)		n/m	(a)
Total assets	$	—	$	—	$	231	$	231	$	(42)	n/m

n/m = not meaningful

(a)We consider the applicable valuation allowance, allowance for loan losses, or cumulative adjustments to be the most relevant indicator of the impact on earnings caused by the fair value measurement. Accordingly, the table above excludes total gains and losses included in earnings for these items. The carrying values are inclusive of the respective valuation reserve, loan loss allowance, or cumulative adjustment.

(b)Represents collateral-dependent loans held for investment for which a nonrecurring measurement was made. The related allowance for loan losses represents the cumulative fair value adjustments for those specific receivables.

(c)The allowance provided for repossessed and foreclosed assets represents any cumulative valuation adjustment recognized to adjust the assets to fair value.

	Nonrecurring fair value measurements								Lower-of-cost-or-fair-value reserve, valuation reserve, or cumulative adjustments		Total gain (loss) included in earnings
December 31, 2023 ($ in millions)	Level 1		Level 2		Level 3		Total
Assets
Loans held-for-sale, net	$	—	$	—	$	375	$	375	$	—	n/m	(a)
Commercial finance receivables and loans, net (b)
Automotive	—		—		6		6		—		n/m	(a)
Other	—		—		49		49		(43)		n/m	(a)
Total commercial finance receivables and loans, net	—		—		55		55		(43)		n/m	(a)
Other assets
Nonmarketable equity investments	—		—		1		1		1		n/m	(a)
Repossessed and foreclosed assets (c)	—		—		10		10		(1)		n/m	(a)
Total assets	$	—	$	—	$	441	$	441	$	(43)	n/m

n/m = not meaningful

(a)We consider the applicable valuation allowance, allowance for loan losses, or cumulative adjustments to be the most relevant indicator of the impact on earnings caused by the fair value measurement. Accordingly, the table above excludes total gains and losses included in earnings for these items. The carrying values are inclusive of the respective valuation reserve, loan loss allowance, or cumulative adjustment.

(b)Represents collateral-dependent loans held for investment for which a nonrecurring measurement was made. The related allowance for loan losses represents the cumulative fair value adjustments for those specific receivables.

(c)The allowance provided for repossessed and foreclosed assets represents any cumulative valuation adjustment recognized to adjust the assets to fair value.