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Other Assets (Tables)
 6 Months Ended
Jun. 30, 2024
Other Assets [Abstract]  
Schedule of Other Assets
The components of other assets were as follows.
($ in millions)June 30, 2024December 31, 2023
Property and equipment at cost$2,207 $2,153 
Accumulated depreciation(935)(871)
Net property and equipment1,272 1,282 
Proportional amortization investments (a) (b)1,997 1,866 
Net deferred tax assets1,441 1,224 
Accrued interest, fees, and rent receivables (c)936 935 
Nonmarketable equity investments797 886 
Goodwill669 669 
Equity-method investments (a) (d)649 651 
Restricted cash and cash equivalents (e)430 87 
Restricted cash held for securitization trusts (f)325 407 
Other accounts receivable177 189 
Operating lease right-of-use assets91 90 
Net intangible assets62 73 
Other assets1,007 1,036 
Total other assets (g)$9,853 $9,395 
(a)Proportional amortization investments includes qualifying LIHTC, NMTC, and HTC investments as of June 30, 2024. Prior to the adoption of ASU 2023-02 on January 1, 2024, NMTC and HTC investments were included in equity-method investments. Refer to Note 1 for additional information.
(b)Presented gross of the associated unfunded commitment. Refer to Note 14 for further information.
(c)Primarily relates to accrued interest, fees, and rent receivables related to our consumer automotive and commercial automotive finance receivables and loans.
(d)Primarily relates to investments made in connection with our CRA program.
(e)Primarily represents restricted cash equivalents funded through the issuance of credit-linked notes. Additionally, includes a number of arrangements with third parties where certain restrictions are placed on balances we hold due to collateral agreements associated with operational processes with a third-party bank, or letter of credit arrangements and corresponding collateral requirements. Refer to Note 18 for further information about the issuance of credit-linked notes.
(f)Includes restricted cash collected from customer payments on securitized receivables, which are distributed by us to investors as payments on the related secured debt, and cash reserve deposits utilized as a form of credit enhancement for various securitization transactions.
(g)Excludes Ally Lending other assets which were transferred to assets of operations held-for-sale as of December 31, 2023. We closed the sale of Ally Lending on March 1, 2024. Refer to Note 2 for additional information.
Schedule of Activity in Proportional Amortization Investment
The following table summarizes information about our proportional amortization investments.
Three months ended June 30,Six months ended June 30,
($ in millions)2024202320242023
Tax credits and other tax benefits from proportional amortization investments (a) (b)$70 $75 $109 $122 
Investment amortization expense recognized as a component of income tax expense (a)56 61 88 99 
Net benefit from proportional amortization investments (a)$14 $14 $21 $23 
(a)Amounts are included within income tax (benefit) expense from continuing operations on our Condensed Consolidated Statement of Comprehensive Income and as a component of operating activities within deferred income taxes, other assets, and other liabilities on our Condensed Consolidated Statement of Cash Flows.
(b)There were no impairment losses recognized during both the three months and six months ended June 30, 2024, and June 30, 2023, resulting from the forfeiture or ineligibility of tax credits or other circumstances.
Schedule of Equity Securities without Readily Determinable Fair Value
The total carrying value of the nonmarketable equity investments held at June 30, 2024, and December 31, 2023, including cumulative unrealized gains and losses, was as follows.
($ in millions)June 30, 2024December 31, 2023
FRB stock$417 $392 
FHLB stock288 392 
Equity investments without a readily determinable fair value
Cost basis at acquisition74 74 
Adjustments
Upward adjustments53 51 
Downward adjustments (including impairment)(35)(23)
Carrying amount, equity investments without a readily determinable fair value92 102 
Nonmarketable equity investments$797 $886 
During the three months and six months ended June 30, 2024, and June 30, 2023, respectively, unrealized gains and losses included in the carrying value of the nonmarketable equity investments still held as of June 30, 2024, and June 30, 2023, were as follows.
Three months ended June 30,Six months ended June 30,
($ in millions)2024202320242023
Upward adjustments$— $1 $1 $7 
Downward adjustments (including impairment) (a)$(14)$— $(14)$(17)
(a)No impairment on FHLB and FRB stock was recognized during both the three months and six months ended June 30, 2024, and 2023.
Schedule of Goodwill
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, 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 June 30, 2024
$20 $27 $622 $669 
(a)Includes $479 million of goodwill associated with Ally Credit Card at both June 30, 2024, and December 31, 2023, and $143 million of goodwill associated with Ally Invest at both June 30, 2024, and December 31, 2023.
Schedule of Finite-Lived Intangible Assets
The net carrying value of intangible assets by class was as follows.
June 30, 2024December 31, 2023
($ in millions)Gross intangible assetsAccumulated amortizationNet carrying valueGross intangible assetsAccumulated amortizationNet carrying value
Technology$117 $(71)$46 $117 $(64)$53 
Customer lists41 (41)— 41 (39)2 
Purchased credit card relationships25 (9)16 25 (7)18 
Trademarks2 (2)— 2 (2)— 
Total intangible assets (a)$185 $(123)$62 $185 $(112)$73 
(a)Excludes $22 million of gross intangible assets and $22 million of accumulated amortization that were transferred to assets of operations held-for-sale related to Ally Lending as of December 31, 2023. The sale was closed on March 1, 2024. Refer to Note 2 for additional information.
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense
Estimated future amortization expense of intangible assets are as follows.
($ in millions)
2024$8 
202514 
202614 
202713 
202813 
Total estimated future amortization expense$62