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Parent Company Condensed Financial Information
 12 Months Ended
Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract]  
Parent Company Condensed Financial Information Parent Company Condensed Financial Information
The following tables present standalone condensed financial statements for Ally Financial Inc. (referred to within this section as the Parent). These condensed statements are provided in accordance with SEC rules, which require disclosure when the restricted net assets of consolidated subsidiaries exceed 25% of consolidated net assets, and should be read in conjunction with the Consolidated Financial Statements and the accompanying Notes to the Consolidated Financial Statements. For purposes of these condensed financial statements, the Parent’s wholly owned subsidiaries are presented in accordance with the equity method of accounting.
Condensed Statement of Comprehensive Income (Loss)
Year ended December 31, ($ in millions)
202420232022
Net financing loss and other interest income (a)$(884)$(945)$(1,000)
Dividends from bank subsidiaries1,200 1,350 3,150 
Dividends from nonbank subsidiaries— 250 1 
Total other revenue134 169 103 
Total net revenue450 824 2,254 
Provision for credit losses8 (14)(32)
Total noninterest expense473 466 665 
(Loss) income from continuing operations before income tax benefit and undistributed (loss) income of subsidiaries(31)372 1,621 
Income tax benefit from continuing operations (b)(327)(408)(253)
Net income from continuing operations296 780 1,874 
Loss from discontinued operations, net of tax(1)(2)(1)
Equity in undistributed earnings of subsidiaries373 179 (159)
Net income668 957 1,714 
Other comprehensive (loss) income, net of tax(108)243 (3,901)
Comprehensive income (loss)$560 $1,200 $(2,187)
(a)Net financing loss and other interest income is primarily driven by interest expense on long-term debt.
(b)There is a significant variation in the customary relationship between pretax income and income tax benefit due to our accounting policy elections and consolidated tax adjustments. The income tax benefit excludes tax effects on dividends from subsidiaries.
Condensed Balance Sheet
December 31, ($ in millions)
20242023
Assets
Cash and cash equivalents (a)$4,579 $3,911 
Equity securities1 16 
Finance receivables and loans, net of unearned income810 1,478 
Allowance for loan losses10 22 
Total finance receivables and loans, net820 1,500 
Investments in subsidiaries
Bank subsidiaries13,777 13,629 
Nonbank subsidiaries5,335 4,503 
Intercompany receivables from subsidiaries251 263 
Investment in operating leases, net10 16 
Other assets1,774 1,536 
Total assets$26,547 $25,374 
Liabilities and equity
Long-term debt (b)$11,068 $10,427 
Interest payable134 98 
Intercompany debt to subsidiaries1,046 772 
Intercompany payables to subsidiaries39 41 
Accrued expenses and other liabilities357 333 
Total liabilities12,644 11,671 
Total equity13,903 13,703 
Total liabilities and equity$26,547 $25,374 
(a)Includes $4.5 billion and $3.9 billion deposited by the Parent at Ally Bank as of December 31, 2024, and 2023, respectively. These funds are available to the Parent for liquidity purposes.
(b)Includes $2.0 billion of the outstanding principal balance of senior notes fully and unconditionally guaranteed by subsidiaries of the Parent as of both December 31, 2024, and 2023.
Condensed Statement of Cash Flows
Year ended December 31, ($ in millions)
202420232022
Operating activities
Net cash provided by operating activities$511 $879 $1,733 
Investing activities
Proceeds from sales of finance receivables and loans initially held-for-investment6 1 64 
Originations and repayments of finance receivables and loans held-for-investment and other, net(89)(37)(7)
Net change in loans — intercompany(51)(290)(65)
Proceeds from sales of equity securities— 5 1 
Capital contributions to subsidiaries(4)(8)— 
Returns of contributed capital— 1 52 
Net change in nonmarketable equity investments— (2)8 
Other, net(27)(10)(27)
Net cash (used in) provided by investing activities(165)(340)26 
Financing activities
Proceeds from issuance of long-term debt2,050 2,410 1,655 
Repayments of long-term debt(1,482)(2,087)(1,088)
Net change in debt — intercompany274 227 (496)
Repurchase of common stock(38)(33)(1,650)
Common stock dividends paid(372)(368)(384)
Preferred stock dividends paid(110)(110)(110)
Net cash provided by (used in) financing activities322 39 (2,073)
Net increase (decrease) in cash and cash equivalents and restricted cash668 578 (314)
Cash and cash equivalents and restricted cash at beginning of year3,944 3,366 3,680 
Cash and cash equivalents and restricted cash at end of year$4,612 $3,944 $3,366 
The following table provides a reconciliation of cash and cash equivalents and restricted cash from the Condensed Balance Sheet to the Condensed Statement of Cash Flows.
Year ended December 31, ($ in millions)
20242023
Cash and cash equivalents on the Condensed Balance Sheet $4,579 $3,911 
Restricted cash included in other assets on the Condensed Balance Sheet (a)33 33 
Total cash and cash equivalents and restricted cash in the Condensed Statement of Cash Flows$4,612 $3,944 
(a)Restricted cash balances relate primarily to Ally securitization arrangements. Refer to Note 13 for additional details describing the nature of restricted cash balances.