ALLY FINANCIAL INC., 10-Q filed on 5/2/2022
Quarterly Report
v3.22.1
Cover Page - shares
 3 Months Ended
Mar. 31, 2022
Apr. 28, 2022
Cover [Abstract]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Mar. 31, 2022  
Document Transition Report false  
Entity File Number 1-3754  
Entity Registrant Name Ally Financial Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 38-0572512  
Entity Address, Address Description Ally Detroit Center  
Entity Address, Address Line One 500 Woodward Avenue  
Entity Address, Address Line Two Floor 10  
Entity Address, City or Town Detroit  
Entity Address, State or Province MI  
Entity Address, Postal Zip Code 48226  
City Area Code 866  
Local Phone Number 710-4623  
Title of 12(b) Security Common Stock, par value $0.01 per share  
Trading Symbol ALLY  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Common Stock, Shares Outstanding   323,046,067
Entity Central Index Key 0000040729  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2022  
Document Fiscal Period Focus Q1  
Amendment Flag false  
v3.22.1
Consolidated Statement of Income - USD ($)
shares in Thousands, $ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Financing revenue and other interest income    
Interest and fees on finance receivables and loans $ 1,714 $ 1,582
Interest on loans held-for-sale 4 5
Interest and dividends on investment securities and other earning assets 188 131
Interest on cash and cash equivalents 2 4
Operating leases 403 370
Total financing revenue and other interest income 2,311 2,092
Interest expense    
Interest on deposits 211 306
Interest on short-term borrowings 5 1
Interest on long-term debt 185 250
Total interest expense 401 557
Net depreciation expense on operating lease assets 217 163
Net financing revenue and other interest income 1,693 1,372
Other revenue    
Insurance premiums and service revenue earned 280 280
Gain on mortgage and automotive loans, net 14 36
Loss on extinguishment of debt 0 (1)
Other gain on investments, net 5 123
Other income, net of losses 143 127
Total other revenue 442 565
Total net revenue 2,135 1,937
Provision for credit losses 167 (13)
Noninterest expense    
Compensation and benefits expense 493 395
Insurance losses and loss adjustment expenses 58 63
Other operating expenses 571 485
Total noninterest expense 1,122 943
Income from continuing operations before income tax expense 846 1,007
Income tax expense from continuing operations 191 211
Net income from continuing operations [1] 655 796
Net income 655 796
Other comprehensive loss, net of tax (1,633) (604)
Comprehensive (loss) income (978) 192
Net income from continuing operations attributable to common stockholders [1] 627 796
Net income attributable to common stockholders [1] $ 627 $ 796
Basic weighted-average common shares outstanding [1],[2] 335,678 375,229
Diluted weighted-average common shares outstanding [1],[2] 337,812 377,529
Basic earnings per common share    
Net income from continuing operations (in dollars per share) [1] $ 1.87 $ 2.12
Net income (in dollars per share) [1] 1.87 2.12
Diluted earnings per common share    
Net income from continuing operations (in dollars per share) [1] 1.86 2.11
Net income (in dollars per share) [1] 1.86 2.11
Cash dividends declared per common share (in dollars per share) [1] $ 0.30 $ 0.19
[1] Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers.
[2] Includes shares related to share-based compensation that vested but were not yet issued.
v3.22.1
Condensed Consolidated Balance Sheet - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Cash and cash equivalents    
Noninterest-bearing $ 470 $ 502
Interest-bearing 3,462 4,560
Total cash and cash equivalents (a) [1] 3,932 5,062
Equity securities 869 1,102
Available-for-sale securities (amortized cost of $35,592 and $33,650) [1] 33,385 33,587
Held-to-maturity securities (fair value of $1,106 and $1,204) 1,159 1,170
Loans held-for-sale, net 471 549
Finance receivables and loans, net    
Finance receivables and loans, net of unearned income 125,365 122,268
Allowance for loan losses (3,301) (3,267)
Total finance receivables and loans, net 122,064 119,001
Investment in operating leases, net 10,730 10,862
Premiums receivable and other insurance assets 2,730 2,724
Other assets 8,957 8,057
Total assets 184,297 182,114
Deposit liabilities    
Noninterest-bearing 175 150
Interest-bearing 142,300 141,408
Total deposit liabilities 142,475 141,558
Short-term borrowings 3,950 0
Long-term debt 15,885 17,029
Interest payable 302 210
Unearned insurance premiums and service revenue 3,500 3,514
Accrued expenses and other liabilities 2,772 2,753
Total liabilities 168,884 165,064
Contingencies (refer to Note 24)
Equity [Abstract]    
Common stock and paid-in capital ($0.01 par value, shares authorized 1,100,000,000; issued 506,435,119 and 504,521,535; and outstanding 327,306,298 and 337,940,636) 21,728 21,671
Preferred stock 2,324 2,324
Accumulated deficit (1,076) (1,599)
Accumulated other comprehensive loss (1,791) (158)
Treasury stock, at cost (179,128,821 and 166,580,899 shares) (5,772) (5,188)
Total equity 15,413 17,050
Total liabilities and equity $ 184,297 $ 182,114
[1] Refer to Note 7 for discussion of cash and cash equivalents and investment securities pledged as collateral.
v3.22.1
Condensed Consolidated Balance Sheet (Parenthetical) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Common stock, par value per share (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 1,100,000,000 1,100,000,000
Common stock, shares issued (in shares) 506,435,119 504,521,535
Common stock, shares outstanding (in shares) 327,306,298 337,940,636
Treasury stock, shares (in shares) 179,128,821 166,580,899
Available-for-sale debt securities | Available-for-sale securities    
Available-for-sale securities, amortized cost $ 35,592 $ 33,650
Held-to-maturity securities    
Held-to-maturity securities, fair value 1,106 1,204
Held-to-maturity securities | Held-to-maturity securities    
Held-to-maturity securities, fair value $ 1,106 $ 1,204
v3.22.1
Condensed Consolidated Balance Sheet (VIEs) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Total finance receivables and loans $ 125,365 $ 122,268
Allowance for loan losses (3,301) (3,267)
Finance receivables and loans, net 122,064 119,001
Other assets 8,957 8,057
Total assets 184,297 182,114
Long-term debt 15,885 17,029
Accrued expenses and other liabilities 2,772 2,753
Total liabilities 168,884 165,064
Consumer    
Total finance receivables and loans 99,869 98,226
Consumer | Automotive loan    
Total finance receivables and loans 78,911 78,252
Allowance for loan losses (2,763) (2,769)
Consumer | Other    
Total finance receivables and loans 2,245 1,962
Allowance for loan losses (258) (221)
On-balance sheet variable interest entities    
Allowance for loan losses (263) (278)
Finance receivables and loans, net 7,555 6,946
Other assets 633 563
Total assets 8,188 7,509
Long-term debt 797 1,337
Accrued expenses and other liabilities 2 2
Total liabilities 799 1,339
On-balance sheet variable interest entities | Consumer | Automotive loan    
Total finance receivables and loans 7,818 6,871
Total assets 19,016 18,158
Total liabilities 917 1,162
On-balance sheet variable interest entities | Consumer | Other    
Total finance receivables and loans [1] $ 0 353
Total assets   318
Total liabilities   $ 300
[1] Composed of credit card finance receivables and loans, net.
v3.22.1
Condensed Consolidated Statement of Changes in Equity - USD ($)
$ in Millions
Total
Series B Preferred Stock
Series C Preferred Stock
Common stock and paid-in capital
Preferred stock
Accumulated deficit
Accumulated deficit
Series B Preferred Stock
Accumulated deficit
Series C Preferred Stock
Accumulated other comprehensive income (loss)
Treasury stock
Beginning balance at Dec. 31, 2020 $ 14,703     $ 21,544 $ 0 $ (4,278)     $ 631 $ (3,194)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income 796         796        
Share-based compensation 22     22            
Other comprehensive income (loss) (604)               (604)  
Common stock repurchases (219)                 (219)
Common stock dividends (73)         (73)        
Ending balance at Mar. 31, 2021 14,625     21,566 0 (3,555)     27 (3,413)
Beginning balance at Dec. 31, 2021 17,050     21,671 2,324 (1,599)     (158) (5,188)
Increase (Decrease) in Stockholders' Equity [Roll Forward]                    
Net income 655         655        
Share-based compensation 57     57            
Other comprehensive income (loss) (1,633)               (1,633)  
Common stock repurchases (584)                 (584)
Common stock dividends (104)         (104)        
Preferred stock dividends   $ (16) $ (12)       $ (16) $ (12)    
Ending balance at Mar. 31, 2022 $ 15,413     $ 21,728 $ 2,324 $ (1,076)     $ (1,791) $ (5,772)
v3.22.1
Condensed Consolidated Statement of Changes in Equity (Parenthetical) - $ / shares
 3 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2021
Statement of Stockholders' Equity [Abstract]      
Cash dividends declared per common share (in dollars per share) $ 0.30 [1] $ 0.25 $ 0.19 [1]
[1] Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers.
v3.22.1
Condensed Consolidated Statement of Cash Flows - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating activities    
Net income $ 655 $ 796
Reconciliation of net income to net cash provided by operating activities    
Depreciation and amortization 339 373
Provision for credit losses 167 (13)
Gain on mortgage and automotive loans, net (14) (36)
Other gain on investments, net (5) (123)
Loss on extinguishment of debt 0 1
Originations and purchases of loans held-for-sale (1,355) (1,175)
Proceeds from sales and repayments of loans held-for-sale 1,465 1,137
Net change in    
Deferred income taxes 183 (19)
Interest payable 92 41
Other assets 214 78
Other liabilities (122) 105
Other, net 22 5
Net cash provided by operating activities 1,641 1,170
Investing activities    
Purchases of equity securities (349) (472)
Proceeds from sales of equity securities 548 589
Purchases of available-for-sale securities (3,962) (10,116)
Proceeds from sales of available-for-sale securities 474 2,327
Proceeds from repayments of available-for-sale securities 1,508 3,612
Purchases of held-to-maturity securities 0 (63)
Proceeds from repayments of held-to-maturity securities 59 118
Purchases of finance receivables and loans held-for-investment (1,364) (930)
Proceeds from sales of finance receivables and loans initially held-for-investment 1 164
Originations and repayments of finance receivables and loans held-for-investment and other, net (2,240) 5,783
Purchases of operating lease assets (946) (1,269)
Disposals of operating lease assets 865 780
Net change in nonmarketable equity investments (116) 29
Other, net (163) (100)
Net cash (used in) provided by investing activities (5,685) 452
Financing activities    
Net change in short-term borrowings 3,950 (2,136)
Net increase in deposits 916 2,545
Proceeds from issuance of long-term debt 1,059 56
Repayments of long-term debt (2,222) (1,340)
Repurchases of common stock (584) (219)
Common stock dividends paid (104) (73)
Preferred stock dividends paid (28) 0
Net cash provided by (used in) financing activities 2,987 (1,167)
Effect of exchange-rate changes on cash and cash equivalents and restricted cash 2 2
Net (decrease) increase in cash and cash equivalents and restricted cash (1,055) 457
Cash and cash equivalents and restricted cash at beginning of year 5,670 16,574
Cash and cash equivalents and restricted cash at March 31, 4,615 17,031
Cash paid for    
Interest 292 492
Income taxes 21 4
Noncash items    
Loans held-for-sale transferred to finance receivables and loans held-for-investment 25 4
Additions of property and equipment 0 46
Finance receivables and loans held-for-investment transferred to loans held-for-sale 0 329
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]    
Cash and cash equivalents on the Condensed Consolidated Balance Sheet 3,932 [1] 15,778
Restricted cash included in other assets on the Consolidated Balance Sheet [2] 683 1,253
Total cash and cash equivalents and restricted cash in the Condensed Consolidated Statement of Cash Flows $ 4,615 $ 17,031
[1] Refer to Note 7 for discussion of cash and cash equivalents and investment securities pledged as collateral.
[2] Restricted cash balances relate primarily to Ally securitization arrangements. Refer to Note 11 for additional details describing the nature of restricted cash balances.
v3.22.1
Description of Business, Basis of Presentation, and Changes in Significant Accounting Policies
 3 Months Ended
Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Description of Business, Basis of Presentation, and Changes in Significant Accounting Policies Description of Business, Basis of Presentation, and Changes in Significant Accounting Policies
Ally Financial Inc. (together with its consolidated subsidiaries unless the context otherwise requires, Ally, the Company, we, us, or our) is a digital financial-services company committed to its promise to “Do It Right” for its consumer, commercial, and corporate customers. Ally is composed of an industry-leading independent automotive finance and insurance operation, an award-winning digital direct bank (Ally Bank, Member FDIC and Equal Housing Lender, which offers mortgage lending, point-of-sale personal lending, and a variety of deposit and other banking products), a consumer credit card business, a corporate finance business for equity sponsors and middle-market companies, and securities brokerage and investment advisory services. We are a Delaware corporation and are registered as a BHC under the BHC Act, and an FHC under the GLB Act.
Our accounting and reporting policies conform to U.S. GAAP. Additionally, where applicable, the policies conform to the accounting and reporting guidelines prescribed by bank regulatory authorities. Certain reclassifications may have been made to the prior periods’ financial statements and notes to conform to the current period’s presentation, which did not have a material impact on our Condensed Consolidated Financial Statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and that affect income and expenses during the reporting period and related disclosures. In developing the estimates and assumptions, management uses all available evidence; however, actual results could differ because of uncertainties associated with estimating the amounts, timing, and likelihood of possible outcomes. Our most significant estimates pertain to the allowance for loan losses, valuations of automotive lease assets and residuals, fair value of financial instruments, and the determination of the provision for income taxes.
The Condensed Consolidated Financial Statements at March 31, 2022, and for the three months ended March 31, 2022, and 2021, are unaudited but reflect all adjustments that are, in management’s opinion, necessary for the fair presentation of the results for the interim periods presented. All such adjustments are of a normal recurring nature. These unaudited Condensed Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements (and the related Notes) included in our Annual Report on Form 10-K for the year ended December 31, 2021, as filed on February 25, 2022, with the SEC.
Significant Accounting Policies
Income Taxes
In calculating the provision for interim income taxes, in accordance with ASC 740, Income Taxes, we apply an estimated annual effective tax rate to year-to-date ordinary income. At the end of each interim period, we estimate the effective tax rate expected to be applicable for the full fiscal year. This method differs from that described in Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K, which describes our annual significant income tax accounting policy and related methodology.
Refer to Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K regarding additional significant accounting policies.
Recently Issued Accounting Standards
Fair Value Hedging—Portfolio Layer Method (ASU 2022-01)
In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method. The purpose of this guidance is to expand the current last-of-layer method to allow multiple hedged layers of a single closed portfolio. This change will allow hedge accounting to be achieved using different types of derivatives and layering techniques, including the use of amortizing swaps with clarification that such a trade would be viewed as being a single layer. Under this expanded scope, both prepayable and nonprepayable financial assets may be included in a single closed portfolio hedge. In addition, the guidance provides clarifications to breach requirements and disclosures. As a result of this change, the last-of-layer method has been renamed the portfolio layer method. The amendments are effective on January 1, 2023, with early adoption permitted. The amendments must be applied using a prospective approach and will not have a material impact upon adoption.
Troubled Debt Restructurings and Vintage Disclosures (ASU 2022-02)
In March 2022, the FASB issued ASU 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The purpose of this guidance is twofold. First, the guidance eliminates TDR recognition and measurement guidance that has been deemed no longer necessary under CECL. The guidance also adds a requirement to incorporate current year gross charge-offs by origination year into the vintage tables. With respect to the TDR impacts, under CECL, credit losses for financial assets measured at amortized cost are determined based on the total current expected credit losses over the life of the financial asset or group of financial assets. Therefore, credit losses on financial assets that have been modified as TDRs would have largely been incorporated in the allowance upon initial recognition. Under ASU 2022-02, we will be required to evaluate whether loan modifications previously characterized as TDRs represent a new loan or a continuation of an existing loan in accordance with ASC Topic 310, Receivables. The guidance also adds new disclosures that will require an entity to provide information related to loan modifications that are made to borrowers that are deemed to be in financial difficulty. The amendments are effective on January 1, 2023, with early adoption permitted. The amendments must be applied using a prospective approach; however, for the transition away from TDRs, the amendments may be adopted using a modified retrospective approach with a cumulative-effect adjustment through retained earnings as of the beginning of the fiscal year upon adoption. Management is currently evaluating the impact of these amendments.
v3.22.1
Acquisitions
 3 Months Ended
Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Acquisitions Acquisitions
On December 1, 2021, we acquired 100% of the equity of Fair Square Financial Holdings LLC and its subsidiaries, including Fair Square Financial LLC (collectively, Fair Square) for $741 million in cash. Fair Square, which we rebranded Ally Credit Card, is a digital-first, nonbank credit-card company that operates in the United States. Fair Square operates as a wholly owned subsidiary of Ally. We applied the acquisition method of accounting to this transaction, which generally requires the initial recognition of assets acquired, including identifiable intangible assets, and liabilities assumed at their respective fair value. Goodwill is recognized as the excess of the acquisition price after the recognition of the net assets, including the identifiable intangible assets. Beginning in December 2021, financial information related to Fair Square is included within Corporate and Other.
The following table summarizes the allocation of cash consideration paid for Fair Square and the amounts of the identifiable assets acquired and liabilities assumed at the acquisition date.
($ in millions)
Purchase price
Cash consideration$741 
Allocation of purchase price to net assets acquired
Finance receivables and loans (a)870 
Intangible assets (b)98 
Cash and short-term investments42 
Other assets46 
Debt(765)
Other liabilities(29)
Goodwill$479 
(a)Includes $22 million of PCD loans that have experienced a more-than-insignificant deterioration of credit quality since origination. We recognized an initial allowance for loan losses of $12 million on these PCD loans.
(b)The weighted average amortization period on the acquired intangible assets is 7 years. Refer to Note 11 for further information on our intangible assets.
The goodwill of $479 million arising from the acquisition consists largely of expected growth of the business as we leverage the Ally brand and our marketing capabilities to scale the acquired credit card provider and expand the suite of financial products we offer to our existing growing customer base. The goodwill recognized is generally expected to be amortized for income tax purposes over a 15-year period. Refer to Note 11 for the carrying amount of goodwill at the beginning and end of the reporting period.
v3.22.1
Revenue from Contracts with Customers
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with CustomersOur primary revenue sources, which include financing revenue and other interest income, are addressed by other GAAP and are not in the scope of ASC Topic 606, Revenue from Contracts with Customers. As part of our Insurance operations, we recognize revenue from insurance contracts, which are addressed by other GAAP and are not included in the scope of this standard. Certain noninsurance contracts within our Insurance operations, including VSCs, GAP contracts, and VMCs, are included in the scope of this standard. All revenue associated with noninsurance contracts is recognized over the contract term on a basis proportionate to the anticipated cost emergence. Further, commissions and sales expense incurred to obtain these contracts are amortized over the terms of the related policies and service contracts on the same basis as premiums and service revenue are earned, and all advertising costs are recognized as expense when incurred.
The following table presents 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 2021 Annual Report on Form 10-K.
Three months ended March 31, ($ in millions)
Automotive Finance operationsInsurance operationsMortgage Finance operationsCorporate Finance operationsCorporate and OtherConsolidated
2022
Revenue from contracts with customers
Noninsurance contracts (a) (b) (c)$— $162 $— $— $— $162 
Remarketing fee income27 — — — — 27 
Brokerage commissions and other revenue— — — — 11 11 
Banking fees and interchange income (d) (e)— — — — 11 11 
Brokered/agent commissions— 4 — — — 4 
Other5 — — — 1 6 
Total revenue from contracts with customers
32 166 — — 23 221 
All other revenue
36 104 14 24 43 221 
Total other revenue (f)$68 $270 $14 $24 $66 $442 
2021
Revenue from contracts with customers
Noninsurance contracts (a) (b) (c)$— $155 $— $— $— $155 
Remarketing fee income27 — — — — 27 
Brokerage commissions and other revenue— — — — 20 20 
Banking fees and interchange income— — — — 6 6 
Brokered/agent commissions— 4 — — — 4 
Other6 — — — — 6 
Total revenue from contracts with customers
33 159 — — 26 218 
All other revenue29 220 40 26 32 347 
Total other revenue (f)$62 $379 $40 $26 $58 $565 
(a)We had opening balances of $3.1 billion and $3.0 billion in unearned revenue associated with outstanding contracts at December 31, 2021, and 2020, respectively, and $231 million and $225 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 March 31, 2022, and 2021, respectively.
(b)At March 31, 2022, we had unearned revenue of $3.0 billion associated with outstanding contracts, and with respect to this balance we expect to recognize revenue of $648 million during the remainder of 2022, $794 million in 2023, $644 million in 2024, $448 million in 2025, and $490 million thereafter. At March 31, 2021, we had unearned revenue of $3.0 billion associated with outstanding contracts.
(c)We had deferred insurance assets of $1.8 billion and $1.9 billion at March 31, 2022, and December 31, 2021, respectively, and recognized $137 million of expense during the three months ended March 31, 2022. We had deferred insurance assets of $1.8 billion at both March 31, 2021, and December 31, 2020, and recognized $132 million of expense during the three months ended March 31, 2021.
(d)Effective May 25, 2021, we eliminated all overdraft fees for Ally Bank deposit accounts.
(e)Interchange income is reported net of customer rewards. Customer rewards expense was $3 million for the three months ended March 31, 2022.
(f)Represents a component of total net revenue. Refer to Note 23 for further information on our reportable operating segments.
In addition to the components of other revenue presented above, as part of our Automotive Finance operations, we recognized net remarketing gains of $50 million and $64 million for the three months ended March 31, 2022, and 2021, respectively, on the sale of off-lease vehicles. These gains are included in depreciation expense on operating lease assets in our Condensed Consolidated Statement of Comprehensive Income.
v3.22.1
Other Income, Net of Losses
 3 Months Ended
Mar. 31, 2022
Other Nonoperating Income (Expense) [Abstract]  
Other Income, Net of Losses Other Income, Net of Losses
Details of other income, net of losses, were as follows.
Three months ended March 31,
($ in millions)20222021
Late charges and other administrative fees$37 $31 
Remarketing fees27 27 
Income from equity-method investments20 14 
(Loss) gain on nonmarketable equity investments, net(1)4 
Other, net60 51 
Total other income, net of losses$143 $127 
v3.22.1
Reserves for Insurance Losses and Loss Adjustment Expenses
 3 Months Ended
Mar. 31, 2022
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract]  
Reserves for Insurance Losses and Loss Adjustment Expenses Reserves for Insurance Losses and Loss Adjustment Expenses
The following table shows a rollforward of our reserves for insurance losses and loss adjustment expenses.
($ in millions)20222021
Total gross reserves for insurance losses and loss adjustment expenses at January 1,$122 $129 
Less: Reinsurance recoverable81 90 
Net reserves for insurance losses and loss adjustment expenses at January 1,41 39 
Net insurance losses and loss adjustment expenses incurred related to:
Current year61 64 
Prior years (a)(3)(1)
Total net insurance losses and loss adjustment expenses incurred58 63 
Net insurance losses and loss adjustment expenses paid or payable related to:
Current year(36)(36)
Prior years(20)(23)
Total net insurance losses and loss adjustment expenses paid or payable(56)(59)
Net reserves for insurance losses and loss adjustment expenses at March 31,43 43 
Plus: Reinsurance recoverable80 89 
Total gross reserves for insurance losses and loss adjustment expenses at March 31,$123 $132 
(a)There have been no material adverse changes to the reserve for prior years.
v3.22.1
Other Operating Expenses
 3 Months Ended
Mar. 31, 2022
Operating Expenses [Abstract]  
Other Operating Expenses Other Operating Expenses
Details of other operating expenses were as follows.
Three months ended March 31,
($ in millions)20222021
Insurance commissions$149 $136 
Technology and communications97 78 
Advertising and marketing72 41 
Lease and loan administration51 55 
Professional services43 33 
Property and equipment depreciation39 36 
Regulatory and licensing fees26 18 
Vehicle remarketing and repossession20 21 
Amortization of intangible assets (a)8 5 
Other66 62 
Total other operating expenses$571 $485 
(a)Refer to Note 11 for further information on our intangible assets.
v3.22.1
Investment Securities
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Investment Securities Investment Securities
Our investment portfolio includes various debt and equity securities. Our debt securities, which are classified as available-for-sale or held-to-maturity, include government securities, corporate bonds, asset-backed securities, and mortgage-backed securities. The cost, fair value, and gross unrealized gains and losses on available-for-sale and held-to-maturity securities were as follows.
March 31, 2022December 31, 2021
Amortized costGross unrealized
Fair value
Amortized costGross unrealized
Fair value
($ in millions)gainslossesgainslosses
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies$2,517 $— $(130)$2,387 $2,173 $2 $(20)$2,155 
U.S. States and political subdivisions886 3 (47)842 841 27 (4)864 
Foreign government161 — (8)153 157 2 (2)157 
Agency mortgage-backed residential
20,100 12 (1,178)18,934 19,044 219 (224)19,039 
Mortgage-backed residential5,158 1 (320)4,839 4,448 11 (34)4,425 
Agency mortgage-backed commercial4,371 12 (433)3,950 4,573 66 (113)4,526 
Asset-backed499 — (16)483 536 1 (3)534 
Corporate debt1,900 3 (106)1,797 1,878 30 (21)1,887 
Total available-for-sale securities (a) (b) (c) (d) (e)
$35,592 $31 $(2,238)$33,385 $33,650 $358 $(421)$33,587 
Held-to-maturity securities
Debt securities
Agency mortgage-backed residential$1,159 $8 $(61)$1,106 $1,170 $48 $(14)$1,204 
Total held-to-maturity securities (e) (f)$1,159 $8 $(61)$1,106 $1,170 $48 $(14)$1,204 
(a)Certain entities related to our Insurance operations are required to deposit securities with state regulatory authorities. These deposited securities totaled $12 million and $13 million at March 31, 2022, and December 31, 2021, respectively.
(b)Certain available-for-sale securities are included in fair value hedging relationships. Refer to Note 19 for additional information.
(c)Available-for-sale securities with a fair value of $227 million and $203 million at March 31, 2022, and December 31, 2021, respectively, were pledged for purposes as required by contractual obligation or law. Under these agreements, we granted the counterparty the right to sell or pledge the underlying investment securities.
(d)Totals do not include accrued interest receivable, which was $88 million and $84 million at March 31, 2022, and December 31, 2021, respectively. Accrued interest receivable is included in other assets on our Condensed Consolidated Balance Sheet.
(e)There was no allowance for credit losses recorded at March 31, 2022, or December 31, 2021, as management determined that there were no expected credit losses in our portfolio of available-for-sale and held-to-maturity securities.
(f)Totals do not include accrued interest receivable, which was $2 million and $3 million at March 31, 2022, and December 31, 2021, respectively. Accrued interest receivable is included in other assets on our Condensed Consolidated Balance Sheet.
The maturity distribution of debt securities outstanding is summarized in the following tables based upon contractual maturities. Call or prepayment options may cause actual maturities to differ from contractual maturities.
TotalDue in one year or lessDue after one year through five yearsDue after five years through ten yearsDue after ten years
($ in millions)AmountYieldAmountYieldAmountYieldAmountYieldAmountYield
March 31, 2022
Fair value of available-for-sale securities (a)
U.S. Treasury and federal agencies$2,387 1.3 %$286 1.0 %$600 1.1 %$1,501 1.4 %$— — %
U.S. States and political subdivisions842 3.0 37 2.3 75 2.8 131 3.3 599 3.0 
Foreign government153 1.6 1 1.0 88 1.6 64 1.7 — — 
Agency mortgage-backed residential18,934 2.5 — — — — 23 2.0 18,911 2.5 
Mortgage-backed residential4,839 2.6 — — — — 20 2.9 4,819 2.6 
Agency mortgage-backed commercial3,950 2.0 — — — — 1,117 2.3 2,833 1.8 
Asset-backed483 1.8 — — 336 1.9 139 1.5 8 3.4 
Corporate debt1,797 2.3 69 2.4 814 2.2 901 2.3 13 3.0 
Total available-for-sale securities$33,385 2.3 $393 1.4 $1,913 1.8 $3,896 2.0 $27,183 2.4 
Amortized cost of available-for-sale securities
$35,592 $394 $1,979 $4,135 $29,084 
Amortized cost of held-to-maturity securities
Agency mortgage-backed residential$1,159 2.8 %$— — %$— — %$— — %$1,159 2.8 %
Total held-to-maturity securities
$1,159 2.8 $— — $— — $— — $1,159 2.8 
December 31, 2021
Fair value of available-for-sale securities (a)
U.S. Treasury and federal agencies$2,155 1.1 %$288 1.0 %$525 0.9 %$1,342 1.2 %$— — %
U.S. States and political subdivisions864 3.0 26 1.6 77 2.8 128 3.3 633 3.0 
Foreign government157 1.9 2 2.1 97 2.0 58 1.8 — — 
Agency mortgage-backed residential19,039 2.5 — — — — 26 2.0 19,013 2.5 
Mortgage-backed residential4,425 2.6 — — — — 23 2.9 4,402 2.6 
Agency mortgage-backed commercial4,526 1.9 — — 26 2.4 1,578 2.4 2,922 1.7 
Asset-backed534 1.9 — — 350 2.0 175 1.5 9 3.4 
Corporate debt1,887 2.3 54 2.9 830 2.3 994 2.3 9 2.5 
Total available-for-sale securities$33,587 2.3 $370 1.3 $1,905 1.9 $4,324 2.0 $26,988 2.4 
Amortized cost of available-for-sale securities
$33,650 $368 $1,893 $4,291 $27,098 
Amortized cost of held-to-maturity securities
Agency mortgage-backed residential
$1,170 2.8 %$— — %$— — %$— — %$1,170 2.8 %
Total held-to-maturity securities
$1,170 2.8 $— — $— — $— — $1,170 2.8 
(a)Yield is calculated using the effective yield of each security at the end of the period, weighted based on the market value. The effective yield considers the contractual coupon and amortized cost, and excludes expected capital gains and losses.
The balances of cash equivalents were $92 million and $40 million at March 31, 2022, and December 31, 2021, respectively, and were composed primarily of money-market funds and short-term securities, including U.S. Treasury bills. $33 million of these securities were pledged as collateral as of March 31, 2022. We granted the counterparty the right to sell or pledge these securities.
The following table presents interest and dividends on investment securities.
Three months ended March 31,
($ in millions)20222021
Taxable interest$174 $114 
Taxable dividends4 5 
Interest and dividends exempt from U.S. federal income tax5 5 
Interest and dividends on investment securities$183 $124 
The following table presents gross gains and losses realized upon the sales of available-for-sale securities, and net gains or losses on equity securities held during the period.
Three months ended March 31,
($ in millions)
20222021
Available-for-sale securities
Gross realized gains$18 $32 
Net realized gains on available-for-sale securities18 32 
Net realized gain on equity securities52 74 
Net unrealized (loss) gain on equity securities(65)17 
Other gain on investments, net$5 $123 
The following table presents the credit quality of our held-to-maturity securities, based on the latest available information as of March 31, 2022, and December 31, 2021. The credit ratings are sourced from nationally recognized statistical rating organizations, which include S&P, Moody’s, and Fitch. They represent a composite of the ratings or, where credit ratings cannot be sourced from the agencies, are presented based on the asset type. All of our held-to-maturity securities were current in their payment of principal and interest as of March 31, 2022, and December 31, 2021. We have not recorded any interest income reversals on our held-to-maturity securities during the three months ended March 31, 2022, or 2021.
March 31, 2022December 31, 2021
($ in millions)AATotal (a)AATotal (a)
Debt securities
Agency mortgage-backed residential$1,159 $1,159 $1,170 $1,170 
Total held-to-maturity securities$1,159 $1,159 $1,170 $1,170 
(a)Rating agencies indicate that they base their ratings on many quantitative and qualitative factors, which may include capital adequacy, liquidity, asset quality, business mix, level and quality of earnings, and the current operating, legislative, and regulatory environment. A credit rating is not a recommendation to buy, sell, or hold securities, and the ratings are subject to revision or withdrawal at any time by the assigning rating agency.
The following table summarizes available-for-sale securities in an unrealized loss position, which we evaluated to determine if a credit loss exists requiring the recognition of an allowance for credit losses. For additional information on our methodology, refer to Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K. As of March 31, 2022, and December 31, 2021, we did not have the intent to sell the available-for-sale securities with an unrealized loss position and we do not believe it is more likely than not that we will be required to sell these securities before recovery of their amortized cost basis. We have not recorded any interest income reversals on our available-for-sale securities during the three months ended March 31, 2022, or 2021.
March 31, 2022December 31, 2021
Less than 12 months12 months or longerLess than 12 months12 months or longer
($ in millions)
Fair value
Unrealized loss
Fair value
Unrealized loss
Fair valueUnrealized lossFair valueUnrealized loss
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies$1,952 $(93)$425 $(37)$1,682 $(20)$— $— 
U.S. States and political subdivisions541 (44)41 (3)160 (3)31 (1)
Foreign government115 (5)26 (3)76 (2)7 — 
Agency mortgage-backed residential13,237 (709)4,416 (469)12,244 (223)38 (1)
Mortgage-backed residential4,716 (319)19 (1)3,243 (34)22 — 
Agency mortgage-backed commercial2,713 (292)868 (141)2,553 (70)749 (43)
Asset-backed459 (16)3 — 360 (3)— — 
Corporate debt1,249 (75)261 (31)970 (18)49 (3)
Total available-for-sale securities
$24,982 $(1,553)$6,059 $(685)$21,288 $(373)$896 $(48)
During the three months ended March 31, 2022, and 2021, management determined that there were no expected credit losses for securities in an unrealized loss position. This analysis considered a variety of factors including, but not limited to, performance indicators of the issuer, default rates, industry analyst reports, credit ratings, and other relevant information, which indicated that contractual cash flows are expected to occur. As a result of this evaluation, management determined that no credit reserves were required at March 31, 2022, or December 31, 2021.
v3.22.1
Finance Receivables and Loans, Net
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Finance Receivables and Loans, Net Finance Receivables and Loans, Net
The composition of finance receivables and loans reported at amortized cost basis was as follows.
($ in millions)March 31, 2022December 31, 2021
Consumer
Consumer automotive (a)$78,911 $78,252 
Consumer mortgage
Mortgage Finance (b)18,372 17,644 
Mortgage — Legacy (c)341 368 
Total consumer mortgage18,713 18,012 
Consumer other
Personal Lending (d)1,209 1,009 
Credit Card (e)1,036 953 
Total consumer other2,245 1,962 
Total consumer99,869 98,226 
Commercial
Commercial and industrial
Automotive13,497 12,229 
Other6,997 6,874 
Commercial real estate5,002 4,939 
Total commercial25,496 24,042 
Total finance receivables and loans (f) (g)$125,365 $122,268 
(a)Certain finance receivables and loans are included in fair value hedging relationships. Refer to Note 19 for additional information.
(b)Includes loans originated as interest-only mortgage loans of $5 million at both March 31, 2022, and December 31, 2021. All of these loans have exited the interest-only period.
(c)Includes loans originated as interest-only mortgage loans of $20 million and $21 million at March 31, 2022, and December 31, 2021, respectively, of which all have exited the interest-only period.
(d)Includes $7 million of finance receivables at both March 31, 2022, and December 31, 2021, for which we have elected the fair value option.
(e)Refer to Note 2 for information regarding our acquisition of Fair Square.
(f)Totals include net unearned income, unamortized premiums and discounts, and deferred fees and costs of $2.3 billion at both March 31, 2022, and December 31, 2021.
(g)Totals do not include accrued interest receivable, which was $527 million and $514 million at March 31, 2022, and December 31, 2021, respectively. Accrued interest receivable is included in other assets on our Condensed Consolidated Balance Sheet. Billed interest on our credit card loans is included within finance receivables and loans, net.
The following tables present an analysis of the activity in the allowance for loan losses on finance receivables and loans for the three months ended March 31, 2022, and March 31, 2021.
Three months ended March 31, 2022 ($ in millions)
Consumer automotiveConsumer mortgageConsumer other (a)CommercialTotal
Allowance at January 1, 2022$2,769 $27 $221 $250 $3,267 
Charge-offs (b)(276)(1)(24)— (301)
Recoveries163 3 1 1 168 
Net charge-offs(113)2 (23)1 (133)
Provision for credit losses107 (3)59 4 167 
Other— — 1 (1)— 
Allowance at March 31, 2022$2,763 $26 $258 $254 $3,301 
(a)Excludes $7 million of finance receivables and loans at both March 31, 2022, and December 31, 2021, for which we have elected the fair value option and incorporate no allowance for loan losses.
(b)Refer to Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K for information regarding our charge-off policies.
Three months ended March 31, 2021 ($ in millions)
Consumer automotiveConsumer mortgageConsumer other (a)CommercialTotal
Allowance at January 1, 2021$2,902 $33 $73 $275 $3,283 
Charge-offs (b)(284)(2)(8)(14)(308)
Recoveries187 3 — — 190 
Net charge-offs(97)1 (8)(14)(118)
Provision for credit losses4 (7)3 (13)(13)
Other— (1)1 — — 
Allowance at March 31, 2021$2,809 $26 $69 $248 $3,152 
(a)Excludes $8 million of finance receivables and loans at both March 31, 2021, and December 31, 2020, for which we have elected the fair value option and incorporate no allowance for loan losses.
(b)Refer to Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K for information regarding our charge-off policies.
The following table presents information about significant sales of finance receivables and loans and transfers of finance receivables and loans from held-for-investment to held-for-sale based on net carrying value.
Three months ended March 31,
($ in millions)20222021
Consumer mortgage$— $329 
Total sales and transfers$— $329 
The following table presents information about significant purchases of finance receivables and loans based on unpaid principal balance at the time of purchase.
Three months ended March 31,
($ in millions)20222021
Consumer automotive$493 $577 
Consumer mortgage825 188 
Total purchases of finance receivables and loans$1,318 $765 
Nonaccrual Loans
The following tables present the amortized cost of our finance receivables and loans on nonaccrual status. All consumer or commercial finance receivables and loans that were 90 days or more past due were on nonaccrual status as of March 31, 2022, and December 31, 2021.
March 31, 2022
($ in millions)Nonaccrual status at Jan. 1, 2022Nonaccrual statusNonaccrual with no allowance (a)
Consumer automotive$1,078 $1,072 $422 
Consumer mortgage
Mortgage Finance59 51 41 
Mortgage — Legacy26 24 23 
Total consumer mortgage85 75 64 
Consumer other
Personal Lending5 6 — 
Credit Card11 14 — 
Total consumer other16 20 — 
Total consumer1,179 1,167 486 
Commercial
Commercial and industrial
Automotive33 3 2 
Other221 217 47 
Commercial real estate3 1 1 
Total commercial257 221 50 
Total finance receivables and loans$1,436 $1,388 $536 
(a)Represents a component of nonaccrual status at end of period.
December 31, 2021
($ in millions)Nonaccrual status at Jan. 1, 2021Nonaccrual statusNonaccrual with no allowance (a)
Consumer automotive$1,256 $1,078 $423 
Consumer mortgage
Mortgage Finance67 59 39 
Mortgage — Legacy35 26 23 
Total consumer mortgage102 85 62 
Consumer other
Personal Lending3 5 — 
Credit Card— 11 — 
Total consumer other3 16 — 
Total consumer1,361 1,179 485 
Commercial
Commercial and industrial
Automotive40 33 32 
Other116 221 48 
Commercial real estate5 3 3 
Total commercial161 257 83 
Total finance receivables and loans$1,522 $1,436 $568 
(a)Represents a component of nonaccrual status at end of period.
We recorded interest income from cash payments associated with finance receivables and loans in nonaccrual status of $3 million for the three months ended March 31, 2022, compared to $2 million for the three months ended March 31, 2021.
Credit Quality Indicators
We evaluate the credit quality of our consumer loan portfolio based on the aging status of the loan and by payment activity. Loan delinquency reporting is generally based upon borrower payment activity, relative to the contractual terms of the loan.
The following tables present the amortized cost basis of our consumer finance receivables and loans by credit quality indicator based on delinquency status and origination year.
Origination yearRevolving loans converted to term
March 31, 2022 ($ in millions)
202220212020201920182017 and priorRevolving loansTotal
Consumer automotive
Current$10,120 $31,561 $15,171 $10,051 $5,678 $4,186 $— $— $76,767 
30–59 days past due17 512 314 272 184 179 — — 1,478 
60–89 days past due1 153 105 86 55 52 — — 452 
90 or more days past due— 59 42 42 31 40 — — 214 
Total consumer automotive10,138 32,285 15,632 10,451 5,948 4,457 — — 78,911 
Consumer mortgage
Mortgage Finance
Current895 10,614 2,079 895 655 3,132 — — 18,270 
30–59 days past due3 23 3 4 6 15 — — 54 
60–89 days past due— 1 1 1 2 2 — — 7 
90 or more days past due— 3 — 5 11 22 — — 41 
Total Mortgage Finance898 10,641 2,083 905 674 3,171 — — 18,372 
Mortgage — Legacy
Current— — — — — 75 221 20 316 
30–59 days past due— — — — — 2 1 1 4 
60–89 days past due— — — — — 1 — — 1 
90 or more days past due— — — — — 12 6 2 20 
Total Mortgage — Legacy— — — — — 90 228 23 341 
Total consumer mortgage898 10,641 2,083 905 674 3,261 228 23 18,713 
Consumer other
Personal Lending
Current375 681 104 15 3 1 — — 1,179 
30–59 days past due2 7 1 — — — — — 10 
60–89 days past due— 6 1 — — — — — 7 
90 or more days past due— 5 1 — — — — — 6 
Total Personal Lending (a)377 699 107 15 3 1 — — 1,202 
Credit Card
Current— — — — — — 1,008 — 1,008 
30–59 days past due— — — — — — 8 — 8 
60–89 days past due— — — — — — 6 — 6 
90 or more days past due— — — — — — 14 — 14 
Total Credit Card— — — — — — 1,036 — 1,036 
Total consumer other377 699 107 15 3 1 1,036 — 2,238 
Total consumer$11,413 $43,625 $17,822 $11,371 $6,625 $7,719 $1,264 $23 $99,862 
(a)Excludes $7 million of finance receivables at March 31, 2022, for which we have elected the fair value option.
Origination yearRevolving loans converted to term
December 31, 2021 ($ in millions)
202120202019201820172016 and priorRevolving loansTotal
Consumer automotive
Current$35,222 $17,218 $11,512 $6,692 $3,403 $1,911 $— $— $75,958 
30–59 days past due424 353 334 226 139 101 — — 1,577 
60–89 days past due115 114 108 70 41 28 — — 476 
90 or more days past due41 51 56 40 27 26 — — 241 
Total consumer automotive35,802 17,736 12,010 7,028 3,610 2,066 — — 78,252 
Consumer mortgage
Mortgage Finance
Current10,169 2,212 977 744 1,041 2,363 — — 17,506 
30–59 days past due50 3 3 7 2 12 — — 77 
60–89 days past due8 — 1 — — 5 — — 14 
90 or more days past due— — 5 16 7 19 — — 47 
Total Mortgage Finance10,227 2,215 986 767 1,050 2,399 — — 17,644 
Mortgage — Legacy
Current— — — — — 79 238 23 340 
30–59 days past due— — — — — 2 1 — 3 
60–89 days past due— — — — — 1 — 1 2 
90 or more days past due— — — — — 15 5 3 23 
Total Mortgage — Legacy— — — — — 97 244 27 368 
Total consumer mortgage10,227 2,215 986 767 1,050 2,496 244 27 18,012 
Consumer other
Personal Lending
Current821 133 18 5 1 — — — 978 
30–59 days past due9 2 — — — — — — 11 
60–89 days past due6 1 1 — — — — — 8 
90 or more days past due4 1 — — — — — — 5 
Total Personal Lending (a)840 137 19 5 1 — — — 1,002 
Credit Card
Current— — — — — — 932 — 932 
30–59 days past due— — — — — — 6 — 6 
60–89 days past due— — — — — — 5 — 5 
90 or more days past due— — — — — — 10 — 10 
Total Credit Card— — — — — — 953 — 953 
Total consumer other840 137 19 5 1 — 953 — 1,955 
Total consumer$46,869 $20,088 $13,015 $7,800 $4,661 $4,562 $1,197 $27 $98,219 
(a)Excludes $7 million of finance receivables at December 31, 2021, for which we have elected the fair value option.
We evaluate the credit quality of our commercial loan portfolio using regulatory risk ratings, which are based on relevant information about the borrower’s financial condition, including current financial information, historical payment experience, credit documentation, and current economic trends, among other factors. We use the following definitions for risk rankings below Pass.
•Special mention — Loans that have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or the institution’s credit position at some future date.
•Substandard — Loans that are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. These loans have a well-defined weakness or weakness that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.
•Doubtful — Loans that have all the weaknesses inherent in those classified as substandard, with the additional characteristic that the weaknesses make collection or liquidation in full, based on the basis of currently existing facts, conditions, and values, highly questionable and improbable.
The regulatory risk classification utilized is influenced by internal credit risk ratings, which are based on a variety of factors. A borrower’s internal credit risk rating is updated at least annually, and more frequently when a borrower’s credit profile changes, including when we become aware of potential credit deterioration. The following tables present the amortized cost basis of our commercial finance receivables and loans by credit quality indicator based on risk rating and origination year.
Origination yearRevolving loans converted to term
March 31, 2022 ($ in millions)
202220212020201920182017 and priorRevolving loansTotal
Commercial and industrial
Automotive
Pass$70 $350 $163 $95 $45 $61 $12,121 $— $12,905 
Special mention— 2 1 5 12 42 469 — 531 
Substandard— — 1 1 1 — 58 — 61 
Total automotive70 352 165 101 58 103 12,648 — 13,497 
Other
Pass232 661 447 288 62 137 4,033 99 5,959 
Special mention— 15 169 96 44 133 111 20 588 
Substandard— — 22 94 — 166 55 21 358 
Doubtful— — — — — 82 7 3 92 
Total other232 676 638 478 106 518 4,206 143 6,997 
Commercial real estate
Pass302 1,285 1,027 781 523 919 8 9 4,854 
Special mention— 7 5 98 4 30 — — 144 
Substandard— — — — — 4 — — 4 
Total commercial real estate302 1,292 1,032 879 527 953 8 9 5,002 
Total commercial$604 $2,320 $1,835 $1,458 $691 $1,574 $16,862 $152 $25,496 
Origination yearRevolving loans converted to term
December 31, 2021 ($ in millions)
202120202019201820172016 and priorRevolving loansTotal
Commercial and industrial
Automotive
Pass$347 $190 $112 $49 $23 $56 $10,741 $— $11,518 
Special mention7 1 7 15 31 18 589 — 668 
Substandard— 1 — 1 — — 41 — 43 
Total automotive354 192 119 65 54 74 11,371 — 12,229 
Other
Pass739 448 374 86 99 68 4,032 83 5,929 
Special mention15 169 96 21 10 122 93 17 543 
Substandard— 22 95 — 140 83 13 23 376 
Doubtful— — — — — 26 — — 26 
Total other754 639 565 107 249 299 4,138 123 6,874 
Commercial real estate
Pass1,298 1,060 873 604 342 653 3 8 4,841 
Special mention13 5 29 7 18 19 — — 91 
Substandard— — — — — 7 — — 7 
Total commercial real estate1,311 1,065 902 611 360 679 3 8 4,939 
Total commercial$2,419 $1,896 $1,586 $783 $663 $1,052 $15,512 $131 $24,042 
The following table presents an analysis of our past-due commercial finance receivables and loans recorded at amortized cost basis.
($ in millions)30–59 days past due60–89 days past due90 days or more past dueTotal past dueCurrentTotal finance receivables and loans
March 31, 2022
Commercial
Commercial and industrial
Automotive$— $— $— $— $13,497 $13,497 
Other— — 1 1 6,996 6,997 
Commercial real estate— — — — 5,002 5,002 
Total commercial$— $— $1 $1 $25,495 $25,496 
December 31, 2021
Commercial
Commercial and industrial
Automotive$— $— $— $— $12,229 $12,229 
Other— — 1 1 6,873 6,874 
Commercial real estate— — — — 4,939 4,939 
Total commercial$— $— $1 $1 $24,041 $24,042 
Troubled Debt Restructurings
TDRs are loan modifications where concessions were granted to borrowers experiencing financial difficulties. For consumer automotive loans, we may offer several types of assistance to aid our customers, including payment extensions and rewrites of the loan terms. Additionally, for mortgage loans, as part of certain programs, we offer mortgage loan modifications to qualified borrowers. These programs are in place to provide support to our mortgage customers in financial distress, including principal forgiveness, maturity extensions, delinquent interest capitalization, and changes to contractual interest rates. Total TDRs recorded at amortized cost were $2.3 billion and $2.4 billion at March 31, 2022, and December 31, 2021, respectively.
Total commitments to lend additional funds to borrowers whose terms had been modified in a TDR were $19 million and $18 million at March 31, 2022, and December 31, 2021, respectively. Refer to Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K for additional information.
The following table presents information related to finance receivables and loans recorded at amortized cost modified in connection with a TDR during the period.
20222021
Three months ended March 31, ($ in millions)
Number of loansPre-modification amortized cost basisPost-modification amortized cost basisNumber of loansPre-modification amortized cost basisPost-modification amortized cost basis
Consumer automotive13,451 $231 $227 25,590 $472 $466 
Consumer mortgage
Mortgage Finance6 5 5 5 4 4 
Mortgage — Legacy4 1 1 1 — — 
Total consumer mortgage10 6 6 6 4 4 
Consumer other
Credit Card351 1 1 — — — 
Total consumer other351 1 1 — — — 
Total consumer13,812 238 234 25,596 476 470 
Commercial
Commercial and industrial
Other1 34 34 1 33 33 
Total commercial1 34 34 1 33 33 
Total finance receivables and loans13,813 $272 $268 25,597 $509 $503 
The following table presents information about finance receivables and loans recorded at amortized cost that have redefaulted during the reporting period and were within 12 months or less of being modified as a TDR. Redefault is when finance receivables and loans meet the requirements for evaluation under our charge-off policy (refer to Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K for additional information) except for commercial finance receivables and loans, where redefault is defined as 90 days past due.
20222021
Three months ended March 31, ($ in millions)
Number of loansAmortized costCharge-off amountNumber of loansAmortized costCharge-off amount
Consumer automotive2,111 $31 $13 2,814 $33 $20 
Consumer mortgage
Mortgage Finance22—— — — 
Mortgage — Legacy———2——
Total consumer mortgage2 2 — 2— — 
Total consumer finance receivables and loans2,113 $33 $13 2,816 $33 $20 
v3.22.1
Leasing
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Leasing Leasing
Ally as the Lessee
We have operating leases for our corporate facilities, which have remaining lease terms of 4 months to 7 years. Most of the property leases have fixed payment terms with annual fixed-escalation clauses and include options to extend the leases for periods that range from 1 to 15 years. Some of those lease agreements also include options to terminate the leases in periods that range from approximately 5 to 6 years after the commencement of the leases. We have not included any of these term extensions or termination provisions in our estimates of the lease term, as we do not consider it reasonably certain that the options will be exercised.
We also have operating leases for a fleet of vehicles that is used by our sales force for business purposes, with noncancelable lease terms of 367 days. Thereafter, the leases are month-to-month, up to a maximum of 48 months from inception.
During the three months ended March 31, 2022, and March 31, 2021, we paid $10 million and $13 million, respectively, in cash for amounts included in the measurement of lease liabilities. These amounts are included in net cash provided by operating activities in the Condensed Consolidated Statement of Cash Flows. During the three months ended March 31, 2022, and March 31, 2021, we obtained $12 million and $337 million, respectively, of ROU assets in exchange for new lease liabilities. As of March 31, 2022, the weighted-average remaining lease term of our operating lease portfolio was 5 years, and the weighted-average discount rate was 2.14%, compared to 6 years and 1.96% as of December 31, 2021.
The following table presents future minimum rental payments we are required to make under operating leases that have commenced as of March 31, 2022, and that have noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$28 
202329 
202423 
202518 
202617 
2027 and thereafter28 
Total undiscounted cash flows143 
Difference between undiscounted cash flows and discounted cash flows(8)
Total lease liability$135 
In March 2021, we commenced the lease for a new corporate facility in Charlotte, North Carolina, which included an underlying purchase option. We provided notice of our intent to exercise the purchase option in April 2021, and executed on the purchase agreement in July 2021. Additionally, we agreed to lease a portion of this corporate facility in exchange for $13 million in future lease payments over a ten year lease term.
In February 2022, we provided notice of our intent to exercise the purchase option for an operations center in Lewisville, Texas, which consisted of a leased facility. Upon exercise of the purchase option, the lease was reassessed and presented as a financing lease at March 31, 2022. The lease liability includes payments inherent in the purchase obligation totaling $42 million. The expense associated with the lease for the period in which it met the criteria for classification as a finance lease was not material. The purchase is scheduled to close in 2022.
The following table details the components of total net operating lease expense.
Three months ended March 31,
($ in millions)20222021
Operating lease expense$8 $12 
Variable lease expense1 2 
Total lease expense, net (a)$9 $14 
(a)Included in other operating expenses in our Condensed Consolidated Statement of Comprehensive Income.
Ally as the Lessor
Investment in Operating Leases
We purchase consumer operating lease contracts and the associated vehicles from dealerships after those contracts are executed by the dealers and the consumers. The amount we pay a dealer for an operating lease contract is based on the negotiated price for the vehicle less vehicle trade-in, down payment from the consumer, and available automotive manufacturer incentives. Under the operating lease, the consumer is obligated to make payments in amounts equal to the amount by which the negotiated purchase price of the vehicle (less any trade-in value, down payment, or available manufacturer incentives) exceeds the contract residual value (including residual support) of the vehicle at lease termination, plus operating lease rental charges. The customer can terminate the lease at any point after commencement, subject to additional charges and fees. Both the consumer and the dealership have the option to purchase the vehicle at the end of the lease term, which can range from 24 to 60 months, at the residual value of the vehicle, however it is not reasonably certain this option will be exercised and accordingly our consumer leases are classified as operating leases. In addition to the charges described above, the consumer is generally responsible for certain charges related to excess mileage or excessive wear and tear on the vehicle. These charges are deemed variable lease payments and, as these payments are not based on a rate or index, they are recognized as net depreciation expense on operating lease assets in our Condensed Consolidated Statement of Comprehensive Income as incurred.
When we acquire a consumer operating lease, we assume ownership of the vehicle from the dealer. We require that property damage, bodily injury, collision, and comprehensive insurance be obtained by the lessee on all consumer operating leases. Neither the consumer nor the dealer is responsible for the value of the vehicle at the time of lease termination. When vehicles are not purchased by customers or the
receiving dealer at scheduled lease termination, the vehicle is returned to us for remarketing. We generally bear the risk of loss to the extent the value of a leased vehicle upon remarketing is below the expected residual value. At termination, our actual sales proceeds from remarketing the vehicle may be higher or lower than the estimated residual value resulting in a gain or loss on remarketing, which is included in net depreciation expense on operating lease assets in our Condensed Consolidated Statement of Comprehensive Income. Excessive mileage or excessive wear and tear on the vehicle during the lease may impact the sales proceeds received upon remarketing. As of March 31, 2022, and December 31, 2021, consumer operating leases with a carrying value, net of accumulated depreciation, of $120 million and $165 million, respectively, were covered by a residual value guarantee of 15% of the manufacturer’s suggested retail price.
The following table details our investment in operating leases.
($ in millions)March 31, 2022December 31, 2021
Vehicles$12,316 $12,384 
Accumulated depreciation(1,586)(1,522)
Investment in operating leases, net$10,730 $10,862 
The following table presents future minimum rental payments we have the right to receive under operating leases with noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$1,201 
20231,247 
2024623 
2025169 
202613 
Total lease payments from operating leases$3,253 
We recognized operating lease revenue of $403 million for the three months ended March 31, 2022, and $370 million for the three months ended March 31, 2021. Depreciation expense on operating lease assets includes net remarketing gains recognized on the sale of operating lease assets. The following table summarizes the components of depreciation expense on operating lease assets.
Three months ended March 31,
($ in millions)20222021
Depreciation expense on operating lease assets (excluding remarketing gains) (a)$267 $227 
Remarketing gains, net(50)(64)
Net depreciation expense on operating lease assets$217 $163 
(a)Includes variable lease payments related to excess mileage and excessive wear and tear on vehicles of $2 million during the three months ended March 31, 2022, and $5 million during the three months ended March 31, 2021.
Finance Leases
In our Automotive Finance operations, we also hold automotive leases that require finance lease treatment as prescribed by ASC Topic 842, Leases. Our total gross investment in finance leases, which is included in finance receivables and loans, net, on our Condensed Consolidated Balance Sheet was $461 million and $470 million as of March 31, 2022, and December 31, 2021, respectively. This includes lease payment receivables of $448 million and $457 million at March 31, 2022, and December 31, 2021, respectively, and unguaranteed residual assets of $13 million at both March 31, 2022, and December 31, 2021, respectively. Interest income on finance lease receivables was $7 million for the three months ended March 31, 2022, and $6 million for the three months ended March 31, 2021, and is included in interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income.
The following table presents future minimum rental payments we have the right to receive under finance leases with noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$121 
2023140 
2024114 
202565 
202638 
2027 and thereafter17 
Total undiscounted cash flows495 
Difference between undiscounted cash flows and discounted cash flows(447)
Present value of lease payments recorded as lease receivable$48 
Leasing Leasing
Ally as the Lessee
We have operating leases for our corporate facilities, which have remaining lease terms of 4 months to 7 years. Most of the property leases have fixed payment terms with annual fixed-escalation clauses and include options to extend the leases for periods that range from 1 to 15 years. Some of those lease agreements also include options to terminate the leases in periods that range from approximately 5 to 6 years after the commencement of the leases. We have not included any of these term extensions or termination provisions in our estimates of the lease term, as we do not consider it reasonably certain that the options will be exercised.
We also have operating leases for a fleet of vehicles that is used by our sales force for business purposes, with noncancelable lease terms of 367 days. Thereafter, the leases are month-to-month, up to a maximum of 48 months from inception.
During the three months ended March 31, 2022, and March 31, 2021, we paid $10 million and $13 million, respectively, in cash for amounts included in the measurement of lease liabilities. These amounts are included in net cash provided by operating activities in the Condensed Consolidated Statement of Cash Flows. During the three months ended March 31, 2022, and March 31, 2021, we obtained $12 million and $337 million, respectively, of ROU assets in exchange for new lease liabilities. As of March 31, 2022, the weighted-average remaining lease term of our operating lease portfolio was 5 years, and the weighted-average discount rate was 2.14%, compared to 6 years and 1.96% as of December 31, 2021.
The following table presents future minimum rental payments we are required to make under operating leases that have commenced as of March 31, 2022, and that have noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$28 
202329 
202423 
202518 
202617 
2027 and thereafter28 
Total undiscounted cash flows143 
Difference between undiscounted cash flows and discounted cash flows(8)
Total lease liability$135 
In March 2021, we commenced the lease for a new corporate facility in Charlotte, North Carolina, which included an underlying purchase option. We provided notice of our intent to exercise the purchase option in April 2021, and executed on the purchase agreement in July 2021. Additionally, we agreed to lease a portion of this corporate facility in exchange for $13 million in future lease payments over a ten year lease term.
In February 2022, we provided notice of our intent to exercise the purchase option for an operations center in Lewisville, Texas, which consisted of a leased facility. Upon exercise of the purchase option, the lease was reassessed and presented as a financing lease at March 31, 2022. The lease liability includes payments inherent in the purchase obligation totaling $42 million. The expense associated with the lease for the period in which it met the criteria for classification as a finance lease was not material. The purchase is scheduled to close in 2022.
The following table details the components of total net operating lease expense.
Three months ended March 31,
($ in millions)20222021
Operating lease expense$8 $12 
Variable lease expense1 2 
Total lease expense, net (a)$9 $14 
(a)Included in other operating expenses in our Condensed Consolidated Statement of Comprehensive Income.
Ally as the Lessor
Investment in Operating Leases
We purchase consumer operating lease contracts and the associated vehicles from dealerships after those contracts are executed by the dealers and the consumers. The amount we pay a dealer for an operating lease contract is based on the negotiated price for the vehicle less vehicle trade-in, down payment from the consumer, and available automotive manufacturer incentives. Under the operating lease, the consumer is obligated to make payments in amounts equal to the amount by which the negotiated purchase price of the vehicle (less any trade-in value, down payment, or available manufacturer incentives) exceeds the contract residual value (including residual support) of the vehicle at lease termination, plus operating lease rental charges. The customer can terminate the lease at any point after commencement, subject to additional charges and fees. Both the consumer and the dealership have the option to purchase the vehicle at the end of the lease term, which can range from 24 to 60 months, at the residual value of the vehicle, however it is not reasonably certain this option will be exercised and accordingly our consumer leases are classified as operating leases. In addition to the charges described above, the consumer is generally responsible for certain charges related to excess mileage or excessive wear and tear on the vehicle. These charges are deemed variable lease payments and, as these payments are not based on a rate or index, they are recognized as net depreciation expense on operating lease assets in our Condensed Consolidated Statement of Comprehensive Income as incurred.
When we acquire a consumer operating lease, we assume ownership of the vehicle from the dealer. We require that property damage, bodily injury, collision, and comprehensive insurance be obtained by the lessee on all consumer operating leases. Neither the consumer nor the dealer is responsible for the value of the vehicle at the time of lease termination. When vehicles are not purchased by customers or the
receiving dealer at scheduled lease termination, the vehicle is returned to us for remarketing. We generally bear the risk of loss to the extent the value of a leased vehicle upon remarketing is below the expected residual value. At termination, our actual sales proceeds from remarketing the vehicle may be higher or lower than the estimated residual value resulting in a gain or loss on remarketing, which is included in net depreciation expense on operating lease assets in our Condensed Consolidated Statement of Comprehensive Income. Excessive mileage or excessive wear and tear on the vehicle during the lease may impact the sales proceeds received upon remarketing. As of March 31, 2022, and December 31, 2021, consumer operating leases with a carrying value, net of accumulated depreciation, of $120 million and $165 million, respectively, were covered by a residual value guarantee of 15% of the manufacturer’s suggested retail price.
The following table details our investment in operating leases.
($ in millions)March 31, 2022December 31, 2021
Vehicles$12,316 $12,384 
Accumulated depreciation(1,586)(1,522)
Investment in operating leases, net$10,730 $10,862 
The following table presents future minimum rental payments we have the right to receive under operating leases with noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$1,201 
20231,247 
2024623 
2025169 
202613 
Total lease payments from operating leases$3,253 
We recognized operating lease revenue of $403 million for the three months ended March 31, 2022, and $370 million for the three months ended March 31, 2021. Depreciation expense on operating lease assets includes net remarketing gains recognized on the sale of operating lease assets. The following table summarizes the components of depreciation expense on operating lease assets.
Three months ended March 31,
($ in millions)20222021
Depreciation expense on operating lease assets (excluding remarketing gains) (a)$267 $227 
Remarketing gains, net(50)(64)
Net depreciation expense on operating lease assets$217 $163 
(a)Includes variable lease payments related to excess mileage and excessive wear and tear on vehicles of $2 million during the three months ended March 31, 2022, and $5 million during the three months ended March 31, 2021.
Finance Leases
In our Automotive Finance operations, we also hold automotive leases that require finance lease treatment as prescribed by ASC Topic 842, Leases. Our total gross investment in finance leases, which is included in finance receivables and loans, net, on our Condensed Consolidated Balance Sheet was $461 million and $470 million as of March 31, 2022, and December 31, 2021, respectively. This includes lease payment receivables of $448 million and $457 million at March 31, 2022, and December 31, 2021, respectively, and unguaranteed residual assets of $13 million at both March 31, 2022, and December 31, 2021, respectively. Interest income on finance lease receivables was $7 million for the three months ended March 31, 2022, and $6 million for the three months ended March 31, 2021, and is included in interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income.
The following table presents future minimum rental payments we have the right to receive under finance leases with noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$121 
2023140 
2024114 
202565 
202638 
2027 and thereafter17 
Total undiscounted cash flows495 
Difference between undiscounted cash flows and discounted cash flows(447)
Present value of lease payments recorded as lease receivable$48 
Leasing Leasing
Ally as the Lessee
We have operating leases for our corporate facilities, which have remaining lease terms of 4 months to 7 years. Most of the property leases have fixed payment terms with annual fixed-escalation clauses and include options to extend the leases for periods that range from 1 to 15 years. Some of those lease agreements also include options to terminate the leases in periods that range from approximately 5 to 6 years after the commencement of the leases. We have not included any of these term extensions or termination provisions in our estimates of the lease term, as we do not consider it reasonably certain that the options will be exercised.
We also have operating leases for a fleet of vehicles that is used by our sales force for business purposes, with noncancelable lease terms of 367 days. Thereafter, the leases are month-to-month, up to a maximum of 48 months from inception.
During the three months ended March 31, 2022, and March 31, 2021, we paid $10 million and $13 million, respectively, in cash for amounts included in the measurement of lease liabilities. These amounts are included in net cash provided by operating activities in the Condensed Consolidated Statement of Cash Flows. During the three months ended March 31, 2022, and March 31, 2021, we obtained $12 million and $337 million, respectively, of ROU assets in exchange for new lease liabilities. As of March 31, 2022, the weighted-average remaining lease term of our operating lease portfolio was 5 years, and the weighted-average discount rate was 2.14%, compared to 6 years and 1.96% as of December 31, 2021.
The following table presents future minimum rental payments we are required to make under operating leases that have commenced as of March 31, 2022, and that have noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$28 
202329 
202423 
202518 
202617 
2027 and thereafter28 
Total undiscounted cash flows143 
Difference between undiscounted cash flows and discounted cash flows(8)
Total lease liability$135 
In March 2021, we commenced the lease for a new corporate facility in Charlotte, North Carolina, which included an underlying purchase option. We provided notice of our intent to exercise the purchase option in April 2021, and executed on the purchase agreement in July 2021. Additionally, we agreed to lease a portion of this corporate facility in exchange for $13 million in future lease payments over a ten year lease term.
In February 2022, we provided notice of our intent to exercise the purchase option for an operations center in Lewisville, Texas, which consisted of a leased facility. Upon exercise of the purchase option, the lease was reassessed and presented as a financing lease at March 31, 2022. The lease liability includes payments inherent in the purchase obligation totaling $42 million. The expense associated with the lease for the period in which it met the criteria for classification as a finance lease was not material. The purchase is scheduled to close in 2022.
The following table details the components of total net operating lease expense.
Three months ended March 31,
($ in millions)20222021
Operating lease expense$8 $12 
Variable lease expense1 2 
Total lease expense, net (a)$9 $14 
(a)Included in other operating expenses in our Condensed Consolidated Statement of Comprehensive Income.
Ally as the Lessor
Investment in Operating Leases
We purchase consumer operating lease contracts and the associated vehicles from dealerships after those contracts are executed by the dealers and the consumers. The amount we pay a dealer for an operating lease contract is based on the negotiated price for the vehicle less vehicle trade-in, down payment from the consumer, and available automotive manufacturer incentives. Under the operating lease, the consumer is obligated to make payments in amounts equal to the amount by which the negotiated purchase price of the vehicle (less any trade-in value, down payment, or available manufacturer incentives) exceeds the contract residual value (including residual support) of the vehicle at lease termination, plus operating lease rental charges. The customer can terminate the lease at any point after commencement, subject to additional charges and fees. Both the consumer and the dealership have the option to purchase the vehicle at the end of the lease term, which can range from 24 to 60 months, at the residual value of the vehicle, however it is not reasonably certain this option will be exercised and accordingly our consumer leases are classified as operating leases. In addition to the charges described above, the consumer is generally responsible for certain charges related to excess mileage or excessive wear and tear on the vehicle. These charges are deemed variable lease payments and, as these payments are not based on a rate or index, they are recognized as net depreciation expense on operating lease assets in our Condensed Consolidated Statement of Comprehensive Income as incurred.
When we acquire a consumer operating lease, we assume ownership of the vehicle from the dealer. We require that property damage, bodily injury, collision, and comprehensive insurance be obtained by the lessee on all consumer operating leases. Neither the consumer nor the dealer is responsible for the value of the vehicle at the time of lease termination. When vehicles are not purchased by customers or the
receiving dealer at scheduled lease termination, the vehicle is returned to us for remarketing. We generally bear the risk of loss to the extent the value of a leased vehicle upon remarketing is below the expected residual value. At termination, our actual sales proceeds from remarketing the vehicle may be higher or lower than the estimated residual value resulting in a gain or loss on remarketing, which is included in net depreciation expense on operating lease assets in our Condensed Consolidated Statement of Comprehensive Income. Excessive mileage or excessive wear and tear on the vehicle during the lease may impact the sales proceeds received upon remarketing. As of March 31, 2022, and December 31, 2021, consumer operating leases with a carrying value, net of accumulated depreciation, of $120 million and $165 million, respectively, were covered by a residual value guarantee of 15% of the manufacturer’s suggested retail price.
The following table details our investment in operating leases.
($ in millions)March 31, 2022December 31, 2021
Vehicles$12,316 $12,384 
Accumulated depreciation(1,586)(1,522)
Investment in operating leases, net$10,730 $10,862 
The following table presents future minimum rental payments we have the right to receive under operating leases with noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$1,201 
20231,247 
2024623 
2025169 
202613 
Total lease payments from operating leases$3,253 
We recognized operating lease revenue of $403 million for the three months ended March 31, 2022, and $370 million for the three months ended March 31, 2021. Depreciation expense on operating lease assets includes net remarketing gains recognized on the sale of operating lease assets. The following table summarizes the components of depreciation expense on operating lease assets.
Three months ended March 31,
($ in millions)20222021
Depreciation expense on operating lease assets (excluding remarketing gains) (a)$267 $227 
Remarketing gains, net(50)(64)
Net depreciation expense on operating lease assets$217 $163 
(a)Includes variable lease payments related to excess mileage and excessive wear and tear on vehicles of $2 million during the three months ended March 31, 2022, and $5 million during the three months ended March 31, 2021.
Finance Leases
In our Automotive Finance operations, we also hold automotive leases that require finance lease treatment as prescribed by ASC Topic 842, Leases. Our total gross investment in finance leases, which is included in finance receivables and loans, net, on our Condensed Consolidated Balance Sheet was $461 million and $470 million as of March 31, 2022, and December 31, 2021, respectively. This includes lease payment receivables of $448 million and $457 million at March 31, 2022, and December 31, 2021, respectively, and unguaranteed residual assets of $13 million at both March 31, 2022, and December 31, 2021, respectively. Interest income on finance lease receivables was $7 million for the three months ended March 31, 2022, and $6 million for the three months ended March 31, 2021, and is included in interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income.
The following table presents future minimum rental payments we have the right to receive under finance leases with noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$121 
2023140 
2024114 
202565 
202638 
2027 and thereafter17 
Total undiscounted cash flows495 
Difference between undiscounted cash flows and discounted cash flows(447)
Present value of lease payments recorded as lease receivable$48 
Leasing Leasing
Ally as the Lessee
We have operating leases for our corporate facilities, which have remaining lease terms of 4 months to 7 years. Most of the property leases have fixed payment terms with annual fixed-escalation clauses and include options to extend the leases for periods that range from 1 to 15 years. Some of those lease agreements also include options to terminate the leases in periods that range from approximately 5 to 6 years after the commencement of the leases. We have not included any of these term extensions or termination provisions in our estimates of the lease term, as we do not consider it reasonably certain that the options will be exercised.
We also have operating leases for a fleet of vehicles that is used by our sales force for business purposes, with noncancelable lease terms of 367 days. Thereafter, the leases are month-to-month, up to a maximum of 48 months from inception.
During the three months ended March 31, 2022, and March 31, 2021, we paid $10 million and $13 million, respectively, in cash for amounts included in the measurement of lease liabilities. These amounts are included in net cash provided by operating activities in the Condensed Consolidated Statement of Cash Flows. During the three months ended March 31, 2022, and March 31, 2021, we obtained $12 million and $337 million, respectively, of ROU assets in exchange for new lease liabilities. As of March 31, 2022, the weighted-average remaining lease term of our operating lease portfolio was 5 years, and the weighted-average discount rate was 2.14%, compared to 6 years and 1.96% as of December 31, 2021.
The following table presents future minimum rental payments we are required to make under operating leases that have commenced as of March 31, 2022, and that have noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$28 
202329 
202423 
202518 
202617 
2027 and thereafter28 
Total undiscounted cash flows143 
Difference between undiscounted cash flows and discounted cash flows(8)
Total lease liability$135 
In March 2021, we commenced the lease for a new corporate facility in Charlotte, North Carolina, which included an underlying purchase option. We provided notice of our intent to exercise the purchase option in April 2021, and executed on the purchase agreement in July 2021. Additionally, we agreed to lease a portion of this corporate facility in exchange for $13 million in future lease payments over a ten year lease term.
In February 2022, we provided notice of our intent to exercise the purchase option for an operations center in Lewisville, Texas, which consisted of a leased facility. Upon exercise of the purchase option, the lease was reassessed and presented as a financing lease at March 31, 2022. The lease liability includes payments inherent in the purchase obligation totaling $42 million. The expense associated with the lease for the period in which it met the criteria for classification as a finance lease was not material. The purchase is scheduled to close in 2022.
The following table details the components of total net operating lease expense.
Three months ended March 31,
($ in millions)20222021
Operating lease expense$8 $12 
Variable lease expense1 2 
Total lease expense, net (a)$9 $14 
(a)Included in other operating expenses in our Condensed Consolidated Statement of Comprehensive Income.
Ally as the Lessor
Investment in Operating Leases
We purchase consumer operating lease contracts and the associated vehicles from dealerships after those contracts are executed by the dealers and the consumers. The amount we pay a dealer for an operating lease contract is based on the negotiated price for the vehicle less vehicle trade-in, down payment from the consumer, and available automotive manufacturer incentives. Under the operating lease, the consumer is obligated to make payments in amounts equal to the amount by which the negotiated purchase price of the vehicle (less any trade-in value, down payment, or available manufacturer incentives) exceeds the contract residual value (including residual support) of the vehicle at lease termination, plus operating lease rental charges. The customer can terminate the lease at any point after commencement, subject to additional charges and fees. Both the consumer and the dealership have the option to purchase the vehicle at the end of the lease term, which can range from 24 to 60 months, at the residual value of the vehicle, however it is not reasonably certain this option will be exercised and accordingly our consumer leases are classified as operating leases. In addition to the charges described above, the consumer is generally responsible for certain charges related to excess mileage or excessive wear and tear on the vehicle. These charges are deemed variable lease payments and, as these payments are not based on a rate or index, they are recognized as net depreciation expense on operating lease assets in our Condensed Consolidated Statement of Comprehensive Income as incurred.
When we acquire a consumer operating lease, we assume ownership of the vehicle from the dealer. We require that property damage, bodily injury, collision, and comprehensive insurance be obtained by the lessee on all consumer operating leases. Neither the consumer nor the dealer is responsible for the value of the vehicle at the time of lease termination. When vehicles are not purchased by customers or the
receiving dealer at scheduled lease termination, the vehicle is returned to us for remarketing. We generally bear the risk of loss to the extent the value of a leased vehicle upon remarketing is below the expected residual value. At termination, our actual sales proceeds from remarketing the vehicle may be higher or lower than the estimated residual value resulting in a gain or loss on remarketing, which is included in net depreciation expense on operating lease assets in our Condensed Consolidated Statement of Comprehensive Income. Excessive mileage or excessive wear and tear on the vehicle during the lease may impact the sales proceeds received upon remarketing. As of March 31, 2022, and December 31, 2021, consumer operating leases with a carrying value, net of accumulated depreciation, of $120 million and $165 million, respectively, were covered by a residual value guarantee of 15% of the manufacturer’s suggested retail price.
The following table details our investment in operating leases.
($ in millions)March 31, 2022December 31, 2021
Vehicles$12,316 $12,384 
Accumulated depreciation(1,586)(1,522)
Investment in operating leases, net$10,730 $10,862 
The following table presents future minimum rental payments we have the right to receive under operating leases with noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$1,201 
20231,247 
2024623 
2025169 
202613 
Total lease payments from operating leases$3,253 
We recognized operating lease revenue of $403 million for the three months ended March 31, 2022, and $370 million for the three months ended March 31, 2021. Depreciation expense on operating lease assets includes net remarketing gains recognized on the sale of operating lease assets. The following table summarizes the components of depreciation expense on operating lease assets.
Three months ended March 31,
($ in millions)20222021
Depreciation expense on operating lease assets (excluding remarketing gains) (a)$267 $227 
Remarketing gains, net(50)(64)
Net depreciation expense on operating lease assets$217 $163 
(a)Includes variable lease payments related to excess mileage and excessive wear and tear on vehicles of $2 million during the three months ended March 31, 2022, and $5 million during the three months ended March 31, 2021.
Finance Leases
In our Automotive Finance operations, we also hold automotive leases that require finance lease treatment as prescribed by ASC Topic 842, Leases. Our total gross investment in finance leases, which is included in finance receivables and loans, net, on our Condensed Consolidated Balance Sheet was $461 million and $470 million as of March 31, 2022, and December 31, 2021, respectively. This includes lease payment receivables of $448 million and $457 million at March 31, 2022, and December 31, 2021, respectively, and unguaranteed residual assets of $13 million at both March 31, 2022, and December 31, 2021, respectively. Interest income on finance lease receivables was $7 million for the three months ended March 31, 2022, and $6 million for the three months ended March 31, 2021, and is included in interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income.
The following table presents future minimum rental payments we have the right to receive under finance leases with noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$121 
2023140 
2024114 
202565 
202638 
2027 and thereafter17 
Total undiscounted cash flows495 
Difference between undiscounted cash flows and discounted cash flows(447)
Present value of lease payments recorded as lease receivable$48 
v3.22.1
Securitizations and Variable Interest Entities
 3 Months Ended
Mar. 31, 2022
Securitizations And Variable Interest Entities [Abstract]  
Securitizations and Variable Interest Entities Securitizations and Variable Interest Entities
We securitize, transfer, and service consumer and commercial automotive loans. We often securitize these loans (also referred to as financial assets) using SPEs. An SPE is a legal entity that is designed to fulfill a specified limited need of the sponsor. Our principal use of
SPEs is to obtain liquidity by securitizing certain of our financial assets. SPEs are often VIEs and may or may not be included on our Condensed Consolidated Balance Sheet.
VIEs are legal entities that either have an insufficient amount of equity at risk for the entity to finance its activities without additional subordinated financial support or, as a group, the holders of the equity investment at risk lack the ability to control the entity’s activities that most significantly impact economic performance through voting or similar rights, or do not have the obligation to absorb the expected losses or the right to receive expected residual returns of the entity.
The VIEs included on the Condensed Consolidated Balance Sheet represent SPEs where we are deemed to be the primary beneficiary, primarily due to our servicing activities and our beneficial interests in the VIE that could be potentially significant.
The nature, purpose, and activities of nonconsolidated SPEs are similar to those of our consolidated SPEs with the primary difference being the nature and extent of our continuing involvement. For nonconsolidated SPEs, the transferred financial assets are removed from our balance sheet provided the conditions for sale accounting are met. The financial assets obtained from the securitization are primarily reported as cash or retained interests (if applicable). Liabilities incurred as part of these securitizations, are recorded at fair value at the time of sale and are reported as accrued expenses and other liabilities on our Condensed Consolidated Balance Sheet. Upon the sale of the loans, we recognize a gain or loss on sale for the difference between the assets recognized, the assets derecognized, and the liabilities recognized as part of the transaction. With respect to our ongoing right to service the assets we sell, the servicing fee we receive represents adequate compensation, and consequently, we do not recognize a servicing asset or liability.
There were no sales of financial assets into nonconsolidated VIEs for both the three months ended March 31, 2022, and March 31, 2021.
We provide long-term guarantee contracts to investors in certain nonconsolidated affordable housing entities and have extended a line of credit to provide liquidity. Since we do not have control over the entities or the power to make decisions, we do not consolidate the entities and our involvement is limited to the guarantee and the line of credit.
We are involved with various other nonconsolidated equity investments, including affordable housing entities and venture capital funds and loan funds. We do not consolidate these entities and our involvement is limited to our outstanding investment, additional capital committed to these funds plus any previously recognized low-income housing tax credits that are subject to recapture.
Refer to Note 1 and Note 11 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K for further description of our securitization activities and our involvement with VIEs.
The following table presents our involvement in consolidated and nonconsolidated VIEs in which we hold variable interests. We have excluded certain transactions with nonconsolidated entities from the balances presented in the table below, where our only continuing involvement relates to financial interests obtained through the ordinary course of business, primarily from lending and investing arrangements. For additional detail related to the assets and liabilities of consolidated variable interest entities refer to the Condensed Consolidated Balance Sheet.
($ in millions)Carrying value of total assetsCarrying value of total liabilitiesAssets sold to nonconsolidated VIEs (a)Maximum exposure to loss in nonconsolidated VIEs
March 31, 2022
On-balance sheet variable interest entities
Consumer automotive$19,016 (b)$917 (c)$— $— 
Off-balance sheet variable interest entities
Commercial other1,869 (d)716 (e)— 2,423 (f)
Consumer other (g)— — 13 13 
Total$20,885 $1,633 $13 $2,436 
December 31, 2021
On-balance sheet variable interest entities
Consumer automotive$18,158 (b)$1,162 (c)$— $— 
Consumer other (g)318 300 — — 
Off-balance sheet variable interest entities
Commercial other1,814 (d)726 (e)— 2,416 (f)
Total$20,290 $2,188 $— $2,416 
(a)Asset values represent the current unpaid principal balance of outstanding credit card finance receivables and loans within the VIEs.
(b)Includes $10.8 billion and $11.0 billion of assets that were not encumbered by VIE beneficial interests held by third parties at March 31, 2022, and December 31, 2021, respectively. Ally or consolidated affiliates hold the interests in these assets.
(c)Includes $118 million and $124 million of liabilities that were not obligations to third-party beneficial interest holders at March 31, 2022, and December 31, 2021, respectively.
(d)Amounts are classified as other assets except for $1 million and $8 million classified as equity securities at March 31, 2022, and December 31, 2021, respectively.
(e)Amounts are classified as accrued expenses and other liabilities.
(f)For certain nonconsolidated affordable housing entities, maximum exposure to loss represents the yield we guaranteed investors through long-term guarantee contracts. The amount disclosed is based on the unlikely event that the yield delivered to investors in the form of low-income tax housing credits is recaptured. For nonconsolidated equity investments, maximum exposure to loss represents our outstanding investment, additional committed capital, and low-income housing tax credits subject to recapture. The amount disclosed is based on the unlikely event that our committed capital is funded, our investments become worthless, and the tax credits previously delivered to us are recaptured. This required disclosure is not an indication of our expected loss.
(g)Represents balances from our credit card business.
Cash Flows with Nonconsolidated Special-Purpose Entities
The following table summarizes cash flows received and paid related to SPEs and asset-backed financings where the transfer is accounted for as a sale and we have a continuing involvement with the transferred consumer automotive and credit card assets (for example, servicing) that were outstanding during the three months ended March 31, 2022, and 2021. Additionally, this table contains information regarding cash flows received from and paid to nonconsolidated SPEs that existed during each period.
Three months ended March 31,
($ in millions)20222021
Consumer other (a)
Cash proceeds from transfers completed during the period$12 $— 
Servicing fees1 — 
Total$13 $— 
(a)Represents activity from our credit card business.
Delinquencies and Net Credit Losses
During both the three months ended March 31, 2022, and 2021, we did not recognize any net credit losses from off-balance sheet securitizations where we have continuing involvement.
The following table presents quantitative information about delinquencies and net credit losses for off-balance sheet whole-loan sales where we have continuing involvement.
Total amountAmount 60 days or more past due
($ in millions)March 31, 2022December 31, 2021March 31, 2022December 31, 2021
Whole-loan sales (a)
Consumer other$13 $4 $— $— 
Total$13 $4 $— $— 
(a)Whole-loan sales are not part of a securitization transaction, but represent credit card pools of loans sold to third-party investors.
v3.22.1
Other Assets
 3 Months Ended
Mar. 31, 2022
Other Assets [Abstract]  
Other Assets Other Assets
The components of other assets were as follows.
($ in millions)March 31, 2022December 31, 2021
Property and equipment at cost (a)$2,178 $2,139 
Accumulated depreciation(980)(955)
Net property and equipment1,198 1,184 
Investment in qualified affordable housing projects1,373 1,378 
Nonmarketable equity investments1,116 998 
Goodwill822 822 
Net deferred tax assets625 254 
Accrued interest, fees, and rent receivables609 600 
Restricted cash held for securitization trusts (b)583 516 
Equity-method investments (c)544 472 
Other accounts receivable293 127 
Net intangible assets121 129 
Operating lease right-of-use assets111 148 
Restricted cash and cash equivalents (d)100 92 
Finance lease right-of-use assets (e)44 — 
Other assets1,418 1,337 
Total other assets$8,957 $8,057 
(a)Balance includes a new corporate facility purchased during the year ended December 31, 2021. Refer to Note 9 for additional information.
(b)Includes restricted cash collected from customer payments on securitized receivables, which are distributed by us to investors as payments on the related secured debt, and cash reserve deposits utilized as a form of credit enhancement for various securitization transactions.
(c)Primarily relates to investments made in connection with our CRA program.
(d)Primarily represents a number of arrangements with third parties where certain restrictions are placed on balances we hold due to collateral agreements associated with operational processes with a third-party bank, or letter of credit arrangements and corresponding collateral requirements.
(e)For additional information on finance lease right-of-use assets, refer to Note 9.
The total carrying value of the nonmarketable equity investments held at March 31, 2022, and December 31, 2021, including cumulative unrealized gains and losses was as follows.
($ in millions)March 31, 2022December 31, 2021
FHLB stock$407 $289 
FRB stock449 449 
Equity securities without a readily determinable fair value
Cost basis90 89 
Adjustments
Upward adjustments183 183 
Downward adjustments (including impairment)(13)(12)
Carrying amount, equity securities without a readily determinable fair value260 260 
Nonmarketable equity investments$1,116 $998 
During the three months ended March 31, 2022, and 2021, unrealized gains and losses included in the carrying value of the nonmarketable equity investments still held as of March 31, 2022, and 2021, were as follows.
Three months ended March 31,
($ in millions)20222021
Upward adjustments$1 $2 
Downward adjustments (including impairment) (a)$(2)$(1)
(a)No impairment on FHLB and FRB stock was recognized during both the three months ended March 31, 2022, and 2021.
Total (loss) gain on nonmarketable equity investments, net, which includes both realized and unrealized gains and losses was a loss of $1 million and a gain of $4 million for the three months ended March 31, 2022, and March 31, 2021, respectively.
The carrying balance of goodwill by reportable operating segment was as follows.
($ in millions)Automotive Finance operationsInsurance operationsCorporate and Other (a)Total
Goodwill at December 31, 2020$20 $27 $296 $343 
Goodwill acquired— — 479 479 
Goodwill at December 31, 2021$20 $27 $775 $822 
Goodwill acquired— — — — 
Goodwill at March 31, 2022$20 $27 $775 $822 
(a)Includes $479 million of goodwill associated with Ally Credit Card at both March 31, 2022, and December 31, 2021, and $153 million of goodwill associated with Ally Lending at both March 31, 2022, and December 31, 2021, and $143 million of goodwill associated with Ally Invest at both March 31, 2022, and December 31, 2021.
The net carrying value of intangible assets by class was as follows.
March 31, 2022 (a)December 31, 2021
($ in millions)Gross intangible assetsAccumulated amortizationNet carrying valueGross intangible assetsAccumulated amortizationNet carrying value
Technology$83 $(12)$71 $83 $(9)$74 
Customer lists58 (44)14 58 (42)16 
Purchased credit card relationships25 (1)24 25 — 25 
Trademarks2 — 2 2 — 2 
Other39 (29)10 39 (27)12 
Total intangible assets$207 $(86)$121 $207 $(78)$129 
(a)We expect to recognize amortization expense of $23 million during the remainder of 2022, $25 million in 2023, $18 million in 2024, $14 million in 2025, and $14 million in 2026.
v3.22.1
Deposit Liabilities
 3 Months Ended
Mar. 31, 2022
Deposits [Abstract]  
Deposit Liabilities Deposit Liabilities
Deposit liabilities consisted of the following.
($ in millions)March 31, 2022December 31, 2021
Noninterest-bearing deposits$175 $150 
Interest-bearing deposits
Savings, money market, and checking accounts106,411 102,455 
Certificates of deposit35,889 38,953 
Total deposit liabilities$142,475 $141,558 
At March 31, 2022, and December 31, 2021, certificates of deposit included $6.6 billion and $7.2 billion, respectively, of those in denominations in excess of $250 thousand federal insurance limits.
v3.22.1
Debt
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Debt Debt
Short-Term Borrowings
The following table presents the composition of our short-term borrowings portfolio.
March 31, 2022December 31, 2021
($ in millions)
Unsecured
Secured (a)
Total
Unsecured
Secured (a)
Total
Federal Home Loan Bank
$— $2,950 $2,950 $— $— $— 
Other (b)— 1,000 1,000 — — — 
Total short-term borrowings$— $3,950 $3,950 $— $— $— 
(a)Refer to the section below titled Long-Term Debt for further details on assets restricted as collateral for payment of the related debt.
(b)Represents a loan participation agreement that did not meet the requirements for derecognition and was therefore accounted for as a secured borrowing.
Long-Term Debt
The following tables present the composition of our long-term debt portfolio.
March 31, 2022December 31, 2021
($ in millions)
Unsecured
Secured
Total
Unsecured
Secured
Total
Long-term debt (a)
Due within one year
$384 $3,789 $4,173 $1,028 $4,841 $5,869 
Due after one year
8,421 3,291 11,712 8,382 2,778 11,160 
Total long-term debt (b)$8,805 $7,080 $15,885 $9,410 $7,619 $17,029 
(a)Includes basis adjustments related to the application of hedge accounting. Refer to Note 19 for additional information.
(b)Includes advances, net of hedge basis adjustments, from the FHLB of Pittsburgh of $6.3 billion at both March 31, 2022, and December 31, 2021.
The following table presents the scheduled remaining maturity of long-term debt at March 31, 2022, assuming no early redemptions will occur. The amounts below include adjustments to the carrying value resulting from the application of hedge accounting. The actual payment of secured debt may vary based on the payment activity of the related pledged assets.
($ in millions)202220232024202520262027 and thereafter
Total
Unsecured
Long-term debt
$433 $2,085 $1,481 $2,377 $27 $3,312 $9,715 
Original issue discount
(40)(58)(65)(71)(79)(597)(910)
Total unsecured
393 2,027 1,416 2,306 (52)2,715 8,805 
Secured
Long-term debt
3,437 1,602 1,748 275 8 10 7,080 
Total long-term debt
$3,830 $3,629 $3,164 $2,581 $(44)$2,725 $15,885 
The following summarizes assets restricted as collateral for the payment of the related debt obligation.
March 31, 2022December 31, 2021
($ in millions)
Total (a)
Ally Bank
Total (a)
Ally Bank
Consumer mortgage finance receivables$18,655 $18,655 $17,941 $17,941 
Consumer automotive finance receivables
10,015 10,015 9,122 9,122 
Commercial finance receivables (b)1,010 1,010 10 10 
Credit card receivables— — 347 347 
Total assets restricted as collateral (c) (d)$29,680 $29,680 $27,420 $27,420 
Secured debt (e)$11,030 $11,030 $7,619 $7,619 
(a)Ally Bank is a component of the total column.
(b)Includes pledged commercial finance receivables related to a participation agreement at March 31, 2022.
(c)Ally Bank has an advance agreement with the FHLB, and had assets pledged to secure borrowings that were restricted as collateral to the FHLB totaling $18.7 billion and $18.0 billion at March 31, 2022, and December 31, 2021, respectively. These assets were composed primarily of consumer mortgage finance receivables and loans. Ally Bank has access to the FRB Discount Window and had assets pledged and restricted as collateral to the FRB totaling $2.4 billion at both March 31, 2022, and December 31, 2021. These assets were composed of consumer automotive finance receivables and loans. Availability under these programs is only for the operations of Ally Bank and cannot be used to fund the operations or liabilities of Ally or its other subsidiaries.
(d)Excludes restricted cash and cash reserves for securitization trusts recorded within other assets on the Condensed Consolidated Balance Sheet. Refer to Note 11 for additional information.
(e)Includes $4.0 billion of short-term borrowings at March 31, 2022.
v3.22.1
Accrued Expenses and Other Liabilities
 3 Months Ended
Mar. 31, 2022
Accounts Payable and Accrued Liabilities [Abstract]  
Accrued Expenses and Other Liabilities Accrued Expenses and Other Liabilities
The components of accrued expenses and other liabilities were as follows.
($ in millions)March 31, 2022December 31, 2021
Accounts payable$774 $584 
Unfunded commitments for investment in qualified affordable housing projects714 724 
Employee compensation and benefits302 512 
Deferred revenue172 176 
Operating lease liabilities135 175 
Reserves for insurance losses and loss adjustment expenses123 122 
Finance lease liabilities (a)42 — 
Other liabilities510 460 
Total accrued expenses and other liabilities$2,772 $2,753 
(a)For additional information on our finance lease liabilities, refer to Note 9.
v3.22.1
Preferred Stock
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Preferred Stock Preferred Stock
Series B Preferred Stock
In April 2021, we issued 1,350,000 shares of 4.700% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series B, with $0.01 par value and liquidation preference of $1,000 per share. Proceeds from the offering were used to redeem a portion of our 8.125% Fixed Rate/Floating Rate Trust Preferred Securities, Series 2 of GMAC Capital Trust I. Dividends on shares of the Series B Preferred Stock are discretionary and are not cumulative. Holders of the Series B Preferred Stock will be entitled to receive, if, when and as declared by our Board, or a duly authorized committee of the Board, out of legally available assets, non-cumulative cash dividends quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, beginning on August 15, 2021. Dividends will accrue (i) from the date of original issue to, but excluding, May 15, 2026, at a fixed rate of 4.700% per annum and (ii) from, and including, May 15, 2026, during each five-year reset period, at a rate per annum equal to the five-year treasury rate as of the most recent reset dividend determination date plus 3.868% on the liquidation preference amount of $1,000 per share. So long as any share of Series B Preferred Stock remains outstanding, unless the dividends for the most recently completed dividend period have been paid in full, or set aside for payment, on all outstanding shares of Series B Preferred Stock, we will be prohibited, subject to certain specified exceptions, from (i) declaring or paying any dividends or making any distributions with respect to any stock that ranks on a parity basis with, or junior in interest to, the Series B Preferred Stock or (ii) repurchasing, redeeming, or otherwise acquiring for consideration, directly or indirectly, any stock that ranks on a parity basis with, or junior in interest to, the Series B Preferred Stock.
The holders of the Series B Preferred Stock do not have voting rights other than those set forth in the certificate of designations for the Series B Preferred Stock included in Ally’s Certificate of Incorporation. The Series B Preferred Stock does not have a stated maturity date, and will be perpetual unless redeemed at Ally’s option. Ally is not required to redeem the Series B Preferred Stock and holders of the Series B
Preferred Stock have no right to require Ally to redeem their shares. Ally may, at its option, redeem the shares of Series B Preferred stock (i) in whole or in part, on any dividend payment date on or after May 15, 2026, or (ii) in whole, but not in part, at any time within 90 days following a regulatory capital treatment event. In the event of any liquidation, dissolution or winding up of the affairs of Ally, holders of the Series B Preferred Stock will be entitled to receive the liquidation amount per share of Series B Preferred Stock and an amount equal to all declared, but unpaid dividends declared prior to the date of payment out of assets available for distribution, before any distribution is made for holders of stock that ranks junior in interest to the Series B Preferred Stock, subject to the rights of Ally’s creditors.
Series C Preferred Stock
In June 2021, we issued 1,000,000 shares of 4.700% Fixed-Rate Reset Non-Cumulative Perpetual Preferred Stock, Series C, with $0.01 par value and liquidation preference of $1,000 per share. Proceeds from the offering were used to redeem a portion of our 8.125% Fixed Rate/Floating Rate Trust Preferred Securities, Series 2 of GMAC Capital Trust I. Dividends on shares of the Series C Preferred Stock are discretionary and are not cumulative. Holders of the Series C Preferred Stock will be entitled to receive, if, when and as declared by our Board, or a duly authorized committee of the Board, out of legally available assets, non-cumulative cash dividends quarterly in arrears on February 15, May 15, August 15 and November 15 of each year, beginning on August 15, 2021. Dividends will accrue (i) from the date of original issue to, but excluding, May 15, 2028, at a fixed rate of 4.700% per annum and (ii) from, and including, May 15, 2028, during each seven-year reset period, at a rate per annum equal to the seven-year treasury rate as of the most recent reset dividend determination date plus 3.481% on the liquidation preference amount of $1,000 per share. So long as any share of Series C Preferred Stock remains outstanding, unless the dividends for the most recently completed dividend period have been paid in full, or set aside for payment, on all outstanding shares of Series C Preferred Stock, we will be prohibited, subject to certain specified exceptions, from (i) declaring or paying any dividends or making any distributions with respect to any stock that ranks on a parity basis with, or junior in interest to, the Series C Preferred Stock or (ii) repurchasing, redeeming, or otherwise acquiring for consideration, directly or indirectly, any stock that ranks on a parity basis with, or junior in interest to, the Series C Preferred Stock.
The holders of the Series C Preferred Stock do not have voting rights other than those set forth in the certificate of designations for the Series C Preferred Stock included in Ally’s Certificate of Incorporation. The Series C Preferred Stock does not have a stated maturity date, and will be perpetual unless redeemed at Ally’s option. Ally is not required to redeem the Series C Preferred Stock and holders of the Series C Preferred Stock have no right to require Ally to redeem their shares. Ally may, at its option, redeem the shares of Series C Preferred stock (i) in whole or in part, on any dividend payment date on or after May 15, 2028, or (ii) in whole, but not in part, at any time within 90 days following a regulatory capital treatment event. In the event of any liquidation, dissolution or winding up of the affairs of Ally, holders of the Series C Preferred Stock will be entitled to receive the liquidation amount per share of Series C Preferred Stock and an amount equal to all declared, but unpaid dividends declared prior to the date of payment out of assets available for distribution, before any distribution is made for holders of stock that ranks junior in interest to the Series C Preferred Stock, subject to the rights of Ally’s creditors.
The following table summarizes information about our preferred stock.
March 31, 2022
Series B preferred stock (a)
Issuance dateApril 22, 2021
Carrying value ($ in millions)
$1,335
Par value (per share)
$0.01
Liquidation preference (per share)
$1,000
Number of shares authorized1,350,000
Number of shares issued and outstanding1,350,000
Dividend/coupon
Prior to May 15, 20264.700%
On and after May 15, 2026
Five Year Treasury + 3.868%
Series C preferred stock (a)
Issuance dateJune 2, 2021
Carrying value ($ in millions)
$989
Par value (per share)
$0.01
Liquidation preference (per share)
$1,000
Number of shares authorized1,000,000
Number of shares issued and outstanding1,000,000
Dividend/coupon
Prior to May 15, 20284.700%
On and after May 15, 2028
Seven Year Treasury + 3.481%
(a)We may, at our option, redeem the Series B and Series C shares on any dividend payment date on or after May 15, 2026, or May 15, 2028, respectively, or at any time within 90 days following a regulatory event that precludes the instruments from being included in additional Tier 1 capital.
v3.22.1
Accumulated Other Comprehensive Loss
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Accumulated Other Comprehensive Loss Accumulated Other Comprehensive Loss
The following table presents changes, net of tax, in each component of accumulated other comprehensive loss.
($ in millions)
Unrealized gains (losses) on investment securities (a)Translation adjustments and net investment hedges (b)Cash flow hedges (b)
Defined benefit pension plans
Accumulated other comprehensive income (loss)
Balance at January 1, 2021$640 $19 $82 $(110)$631 
Net change(587)1 (17)(1)(604)
Balance at March 31, 2021$53 $20 $65 $(111)$27 
Balance at January 1, 2022$(95)$19 $35 $(117)$(158)
Net change(1,631)1 (5)2 (1,633)
Balance at March 31, 2022 (c)$(1,726)$20 $30 $(115)$(1,791)
(a)Represents the after-tax difference between the fair value and amortized cost of our available-for-sale securities portfolio.
(b)For additional information on derivative instruments and hedging activities, refer to Note 19.
(c)The valuation of our defined benefit plan reflects our current intention to terminate our qualified defined benefit plan in the future. Upon termination and settlement, the unrealized loss and associated tax effects related to our qualified defined benefit pension plan recorded in accumulated other comprehensive income would be recognized in net income from continuing operations of our Condensed Consolidated Statement of Comprehensive Income.
The following tables present the before- and after-tax changes in each component of accumulated other comprehensive loss.
Three months ended March 31, 2022 ($ in millions)
Before taxTax effectAfter tax
Investment securities
Net unrealized losses arising during the period$(2,120)$503 $(1,617)
Less: Net realized gains reclassified to income from continuing operations18 (a)(4)(b)14 
Net change(2,138)507 (1,631)
Translation adjustments
Net unrealized gains arising during the period3 — 3 
Net investment hedges (c)
Net unrealized losses arising during the period(3)1 (2)
Cash flow hedges (c)
Less: Net realized gains reclassified to income from continuing operations6 (d)(1)(b)5 
Defined benefit pension plans
Net unrealized gains arising during the period2 — 2 
Other comprehensive loss$(2,142)$509 $(1,633)
(a)Includes gains reclassified to other gain on investments, net in our Condensed Consolidated Statement of Comprehensive Income.
(b)Includes amounts reclassified to income tax expense from continuing operations in our Condensed Consolidated Statement of Comprehensive Income.
(c)For additional information on derivative instruments and hedging activities, refer to Note 19.
(d)Includes gains reclassified to interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income.
Three months ended March 31, 2021 ($ in millions)
Before taxTax effectAfter tax
Investment securities
Net unrealized losses arising during the period$(736)$174 $(562)
Less: Net realized gains reclassified to income from continuing operations32(a)(7)(b)25
Net change(768)181 (587)
Translation adjustments
Net unrealized gains arising during the period3 (1)2 
Net investment hedges (c)
Net unrealized losses arising during the period(2)1 (1)
Cash flow hedges (c)
Less: Net realized gains reclassified to income from continuing operations21 (d)(4)(b)17 
Defined benefit pension plans
Net unrealized losses arising during the period(2)1 (1)
Other comprehensive loss$(790)$186 $(604)
(a)Includes gains reclassified to other gain on investments, net in our Condensed Consolidated Statement of Comprehensive Income.
(b)Includes amounts reclassified to income tax expense from continuing operations in our Condensed Consolidated Statement of Comprehensive Income.
(c)For additional information on derivative instruments and hedging activities, refer to Note 19.
(d)Includes gains reclassified to interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income.
v3.22.1
Earnings per Common Share
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Earnings per Common Share Earnings per Common Share
The following table presents the calculation of basic and diluted earnings per common share.
Three months ended March 31,
($ in millions, except per share data; shares in thousands) (a)
20222021
Net income from continuing operations$655 $796 
Preferred stock dividends — Series B(16)— 
Preferred stock dividends — Series C(12)— 
Net income from continuing operations attributable to common stockholders$627 $796 
Net income attributable to common stockholders$627 $796 
Basic weighted-average common shares outstanding (b)335,678 375,229 
Diluted weighted-average common shares outstanding (b)337,812 377,529 
Basic earnings per common share
Net income from continuing operations$1.87 $2.12 
Net income$1.87 $2.12 
Diluted earnings per common share
Net income from continuing operations$1.86 $2.11 
Net income$1.86 $2.11 
(a)Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers.
(b)Includes shares related to share-based compensation that vested but were not yet issued.
v3.22.1
Regulatory Capital and Other Regulatory Matters
 3 Months Ended
Mar. 31, 2022
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]  
Regulatory Capital and Other Regulatory Matters Regulatory Capital and Other Regulatory Matters
Ally is currently subject to enhanced prudential standards that were established by the FRB under the Dodd-Frank Act. Targeted amendments to the Dodd-Frank Act and other financial-services laws were enacted through the EGRRCP Act, including amendments that affect whether and, if so, how the FRB applies enhanced prudential standards to BHCs like us with $100 billion or more but less than $250 billion in total consolidated assets. Through final rules implementing these amendments—which are commonly known as the tailoring framework—the FRB and other U.S. banking agencies established four risk-based categories of prudential standards and capital and liquidity requirements for banking organizations with $100 billion or more in total consolidated assets. The most stringent standards and requirements apply to U.S. global systemically important BHCs, which are assigned to Category I. The assignment of other banking organizations to the remaining three categories is based on measures of size and four other risk-based indicators: cross-jurisdictional activity, wSTWF, nonbank assets, and off-balance-sheet exposure.
Under the tailoring framework, Ally is a Category IV firm and, as such, is (1) subject to supervisory stress testing on a two-year cycle, (2) required to submit an annual capital plan to the FRB, (3) required to maintain a buffer of unencumbered highly liquid assets to meet projected net stressed cash outflows over a 30-day planning horizon, (4) exempted from company-run capital stress testing requirements, (5) exempted from the requirements of the LCR and the net stable funding ratio provided that our average wSTWF continues to remain under $50 billion, and (6) exempted from the requirements of the supplementary leverage ratio, the countercyclical capital buffer, and single-counterparty credit limits. Refer to Note 20 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K for additional details on the tailoring framework and other applicable capital and liquidity requirements.
We continue to be subject to rules enabling the FRB to conduct supervisory stress testing on a more or less frequent basis based on our financial condition, size, complexity, risk profile, scope of operations, or activities, or risks to the U.S. economy. Further, we remain subject to rules requiring the resubmission of our capital plan if we determine that there has been or will be a material change in our risk profile, financial condition, or corporate structure since we last submitted the capital plan or if the FRB determines that (a) our capital plan is incomplete or our capital plan or internal capital adequacy process contains material weaknesses, (b) there has been, or will likely be, a material change in our risk profile (including a material change in our business strategy or any risk exposure), financial condition, or corporate structure, or (c) the BHC stress scenario(s) are not appropriate for our business model and portfolios, or changes in the financial markets or the macroeconomic outlook that could have a material impact on our risk profile and financial condition require the use of updated scenarios.
Basel Capital Framework
The FRB and other U.S. banking agencies have adopted risk-based and leverage capital standards that establish minimum capital-to-asset ratios for BHCs, like Ally, and depository institutions, like Ally Bank. The risk-based capital ratios are based on a banking organization’s RWAs, which are generally determined under the standardized approach applicable to Ally and Ally Bank by (1) assigning on-balance-sheet exposures to broad risk-weight categories according to the counterparty or, if relevant, the guarantor or collateral (with higher risk weights assigned to categories of exposures perceived as representing greater risk), and (2) multiplying off-balance-sheet exposures by specified credit
conversion factors to calculate credit equivalent amounts and assigning those credit equivalent amounts to the relevant risk-weight categories. The leverage ratio, in contrast, is based on an institution’s average unweighted on-balance-sheet exposures.
Under U.S. Basel III, Ally and Ally Bank must maintain a minimum Common Equity Tier 1 risk-based capital ratio of 4.5%, a minimum Tier 1 risk-based capital ratio of 6%, and a minimum total risk-based capital ratio of 8%. In addition to these minimum risk-based capital ratios, Ally and Ally Bank are subject to a capital conservation buffer requirement, which for Ally was 3.5% and for Ally Bank was 2.5% as of March 31, 2022, as further described in the next paragraph. Failure to maintain more than the full amount of the capital conservation buffer requirement would result in automatic restrictions on the ability of Ally and Ally Bank to make capital distributions, including dividend payments and stock repurchases and redemptions, and to pay discretionary bonuses to executive officers. U.S. Basel III also subjects Ally and Ally Bank to a minimum Tier 1 leverage ratio of 4%.
Prompted by the enactment of the EGRRCP Act, the FRB and other U.S. banking agencies tailored the capital and liquidity requirements that apply to large U.S. banking organizations. In March 2020, the FRB issued a final rule to more closely align forward-looking stress testing results with the FRB’s non-stress regulatory capital requirements for BHCs with $100 billion or more in total consolidated assets and other specified companies. The final rule introduced a stress capital buffer requirement based on firm-specific stress test performance and planned dividends, which for Ally replaced the fixed 2.5% component of the capital conservation buffer requirement. The final rule also made several changes to the CCAR process effective May 2020, such as eliminating the CCAR quantitative objection, narrowing the set of planned capital actions assumed to occur in the stress scenario, assuming that a firm maintains a constant level of assets over the planning horizon, eliminating the 30% dividend payout ratio as a criterion for heightened scrutiny of a firm’s capital plan, and allowing a firm to make capital distributions in excess of those included in its capital plan if the firm is otherwise in compliance with the automatic distribution limits of the capital framework. Under the final rule, Ally’s stress capital buffer requirement is the greater of 2.5% and the result of the following calculation: (1) the difference between Ally’s starting and minimum projected Common Equity Tier 1 capital ratios under the severely adverse scenario in the supervisory stress test, plus (2) the sum of the dollar amount of Ally’s planned common stock dividends for each of the fourth through seventh quarters of its nine-quarter capital planning horizon, as a percentage of RWAs. For a Category IV firm like Ally, the capital conservation buffer requirement comprises the stress capital buffer requirement. The capital conservation buffer requirement applicable to Ally’s depository-institution subsidiary, Ally Bank, continues to be a fixed 2.5%. Ally received its first preliminary stress capital buffer requirement from the FRB in June 2020, which was determined under this new methodology to be 3.5%, was finalized in August 2020, and became effective in October 2020. In June 2020, the FRB also announced its determination that changes in financial markets or the macroeconomic outlook could have a material effect on the risk profiles and financial conditions of firms subject to the capital-plan rule and that, as a result, the firms (including Ally) would be required to resubmit capital plans to the FRB within 45 days after receiving updated stress scenarios from the FRB. On June 24, 2021, we received notification from the FRB that our stress capital buffer requirement would not be recalculated in connection with the second round of 2020 supervisory stress testing.
Under applicable capital rules, the maximum amount of capital distributions and discretionary bonus payments that can be made by a banking organization, such as Ally or Ally Bank, is a function of its eligible retained income. During the COVID-19 pandemic, the FRB and other U.S. banking agencies expressed a concern that the definition of eligible retained income would not limit distributions in the gradual manner intended but instead could do so in a sudden and severe manner even if a banking organization were to experience only a modest reduction in its capital ratios. As a result, to better allow a banking organization to use its capital buffer as intended and continue lending in adverse conditions, the U.S. banking agencies issued an interim final rule that became effective in March 2020, and revised the definition of eligible retained income to the greater of (1) a banking organization’s net income for the four preceding calendar quarters, net of any distributions and associated tax effects not already reflected in net income, and (2) the average of a banking organization’s net income over the preceding four quarters. This interim final rule was adopted as final with no changes effective January 1, 2021.
Ally and Ally Bank are subject to the U.S. Basel III standardized approach for counterparty credit risk but not to the U.S. Basel III advanced approaches for credit risk or operational risk. Ally is also not subject to the U.S. market-risk capital rule, which applies only to banking organizations with significant trading assets and liabilities.
The risk-based capital ratios and the Tier 1 leverage ratio play a central role in PCA, which is an enforcement framework used by the U.S. banking agencies to constrain the activities of depository institutions based on their levels of regulatory capital. Five categories have been established using thresholds for the Common Equity Tier 1 risk-based capital ratio, the Tier 1 risk-based capital ratio, the total risk-based capital ratio, and the Tier 1 leverage ratio: well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized. FDICIA generally prohibits a depository institution from making any capital distribution, including any payment of a cash dividend or a management fee to its BHC, if the depository institution would become undercapitalized after the distribution. An undercapitalized institution is also subject to growth limitations and must submit and fulfill a capital restoration plan. While BHCs are not subject to the PCA framework, the FRB is empowered to compel a BHC to take measures—such as the execution of financial or performance guarantees—when PCA is required in connection with one of its depository-institution subsidiaries. At both March 31, 2022, and December 31, 2021, Ally Bank was well capitalized under the PCA framework.
Under FDICIA and the PCA framework, insured depository institutions such as Ally Bank must be well capitalized or, with a waiver from the FDIC, adequately capitalized in order to accept brokered deposits, and even adequately capitalized institutions are subject to some restrictions on the rates they may offer for brokered deposits. Brokered deposits totaled $4.0 billion at March 31, 2022, which represented 2.8% of Ally Bank’s total deposits.
The following table summarizes our capital ratios under U.S. Basel III.
March 31, 2022December 31, 2021Required minimum (a)Well-capitalized minimum
($ in millions)AmountRatioAmountRatio
Capital ratios
Common Equity Tier 1 (to risk-weighted assets)
Ally Financial Inc.$14,849 9.97 %$15,143 10.34 %4.50 %(b)
Ally Bank17,220 12.09 17,253 12.39 4.50 6.50 %
Tier 1 (to risk-weighted assets)
Ally Financial Inc.$17,124 11.49 %$17,403 11.89 %6.00 %6.00 %
Ally Bank17,220 12.09 17,253 12.39 6.00 8.00 
Total (to risk-weighted assets)
Ally Financial Inc.$19,564 13.13 %$19,724 13.47 %8.00 %10.00 %
Ally Bank19,006 13.34 18,995 13.64 8.00 10.00 
Tier 1 leverage (to adjusted quarterly average assets) (c)
Ally Financial Inc.$17,124 9.36 %$17,403 9.67 %4.00 %(b)
Ally Bank17,220 9.93 17,253 10.12 4.00 5.00 %
(a)In addition to the minimum risk-based capital requirements for the Common Equity Tier 1 capital, Tier 1 capital, and total capital ratios, Ally was required to maintain a minimum capital conservation buffer of 3.5% at both March 31, 2022, and December 31, 2021, and Ally Bank was required to maintain a minimum capital conservation buffer of 2.5% at both March 31, 2022, and December 31, 2021.
(b)Currently, there is no ratio component for determining whether a BHC is “well-capitalized.”
(c)Federal regulatory reporting guidelines require the calculation of adjusted quarterly average assets using a daily average methodology.
On January 1, 2020, we adopted CECL, which is further described in Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K. In December 2018, the FRB and other U.S. banking agencies approved a final rule to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, the option to phase in the day-one impact of CECL over a three-year period. In March 2020, the FRB and other U.S. banking agencies issued an interim final rule that became effective for the first quarter of 2020 and that provided BHCs and banks with an alternative option to temporarily delay an estimate of the impact of CECL, relative to the incurred loss methodology for estimating the allowance for loan losses, on regulatory capital. The interim final rule was clarified and adjusted in a final rule that became effective in September 2020. We elected this alternative option instead of the one described in the December 2018 rule. As a result, under the final rule, we delayed recognizing the estimated impact of CECL on regulatory capital until after a two-year deferral period, which for us extended through December 31, 2021. Beginning on January 1, 2022, we were required to phase in 25% of the previously deferred estimated capital impact of CECL, with an additional 25% to be phased in at the beginning of each subsequent year until fully phased in by the first quarter of 2025. The estimated impact of CECL on regulatory capital that we deferred and began phasing in on January 1, 2022, is generally calculated as the entire day-one impact at adoption plus 25% of the subsequent change in allowance during the two-year deferral period. As of March 31, 2022, the total deferred impact on Common Equity Tier 1 capital related to our adoption of CECL was $887 million.
Capital Planning and Stress Tests
Under the tailoring framework described earlier in the section titled Basel Capital Framework, we are generally subject to supervisory stress testing on a two-year cycle and exempted from mandated company-run capital stress testing requirements. We are also required to submit an annual capital plan to the FRB. Our annual capital plan must include an assessment of our expected uses and sources of capital and a description of all planned capital actions over a nine-quarter planning horizon, including any issuance of a debt or equity capital instrument, any dividend or other capital distribution, and any similar action that the FRB determines could have an impact on our capital. The plan must also include a detailed description of our process for assessing capital adequacy, including a discussion of how we, under expected and stressful conditions, will maintain capital commensurate with our risks and above the minimum regulatory capital ratios, will serve as a source of strength to Ally Bank, and will maintain sufficient capital to continue our operations by maintaining ready access to funding, meeting our obligations to creditors and other counterparties, and continuing to serve as a credit intermediary.
In January 2021, the FRB issued a final rule effective April 5, 2021, to align its capital planning and stress capital buffer requirements with the tailoring framework. Under the final rule, unless otherwise directed by the FRB in specified circumstances, Ally and other Category IV firms are generally no longer required to calculate forward-looking projections of revenues, losses, reserves, and pro forma capital levels under scenarios provided by the FRB. Each firm continues to be required, however, to provide a forward-looking analysis of income and capital levels under expected and stressful conditions that are designed by the firm. In addition, for Category IV firms, the final rule updated the frequency of calculating the portion of the stress capital buffer derived from the supervisory stress test to every other year. These firms have the ability to elect to participate in the supervisory stress test—and receive a correspondingly updated stress capital buffer requirement—in a year in which they would not generally be subject to the supervisory stress test. During a year in which a Category IV firm does not undergo a supervisory stress test, the firm would receive an updated stress capital buffer requirement that reflects its updated planned common-stock dividends. The final rule also includes reporting and other changes consistent with the tailoring framework. Ally did not opt into the 2021 supervisory stress test but will be subject to the 2022 supervisory stress test.
We submitted our 2021 capital plan on April 5, 2021, which included planned capital distributions to common stockholders through share repurchases and cash dividends and other capital actions over the nine-quarter planning horizon. On January 11, 2021, our Board authorized a stock-repurchase program, permitting us to repurchase up to $1.6 billion of our common stock from time to time from the first quarter of 2021 through the fourth quarter of 2021 subject to restrictions imposed by the FRB. On July 12, 2021, our Board authorized an increase in the maximum amount of this stock-repurchase program, from $1.6 billion to $2.0 billion. During the second quarter of 2021, we issued $1.35 billion of Series B Preferred Stock and $1.0 billion of Series C Preferred Stock, both of which qualify as additional Tier 1 capital under U.S. Basel III. The proceeds from these issuances were used to redeem a portion of the Series 2 TRUPS then outstanding. Refer to Note 15 for additional details about these instruments and capital actions. In June 2021, we submitted an updated capital plan to the FRB reflecting these capital actions and increases in our stock-repurchase program and common-stock dividend. This updated capital plan was used by the FRB to recalculate Ally’s final stress capital buffer requirement, which was announced in August 2021 and remained unchanged at 3.5%. We submitted our 2022 capital plan to the FRB on April 5, 2022.
On January 10, 2022, our Board authorized a stock-repurchase program, permitting us to repurchase up to $2.0 billion of our common stock from time to time from the first quarter of 2022 through the fourth quarter of 2022 subject to restrictions imposed by the FRB, and an increase in our cash dividend on common stock from $0.25 per share for the fourth quarter of 2021 to $0.30 per share for the first quarter of 2022. Our ability to make capital distributions, including our ability to pay dividends or repurchase shares of our common stock, will continue to be subject to the FRB’s review and our internal governance requirements, including approval by our Board. The amount and size of any future dividends and share repurchases also will be subject to various factors, including Ally’s capital and liquidity positions, accounting and regulatory considerations (including any restrictions that may be imposed by the FRB), impacts related to the COVID-19 pandemic, financial and operational performance, alternative uses of capital, common-stock price, and general market conditions, and may be extended, modified, or discontinued at any time.
The following table presents information related to our common stock and distributions to our common stockholders.
Common stock repurchased during period (a) (b)Number of common shares outstandingCash dividends declared per common share (c)
($ in millions, except per share data; shares in thousands)Approximate dollar valueNumber of sharesBeginning of periodEnd of period
2021
First quarter$219 5,276 374,674 371,805 $0.19 
Second quarter502 9,641 371,805 362,639 0.19 
Third quarter679 13,055 362,639 349,599 0.25 
Fourth quarter594 12,046 349,599 337,941 0.25 
2022
First quarter$584 12,548 337,941 327,306 $0.30 
(a)Includes shares of common stock withheld to cover income taxes owed by participants in our share-based incentive plans.
(b)Our aggregate common-stock dividends and share repurchases in the first and second quarters of 2021 were limited by actions taken by the FRB to address the economic uncertainty from the COVID-19 pandemic. Refer to Note 20 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K for further details about these actions.
(c)On April 13, 2022, our Board declared a quarterly cash dividend of $0.30 per share on all common stock, payable on May 16, 2022, to stockholders of record at the close of business on May 2, 2022. Refer to Note 25 for further information regarding this common-stock dividend.
v3.22.1
Derivative Instruments and Hedging Activities
 3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Derivative Instruments and Hedging Activities Derivative Instruments and Hedging ActivitiesWe enter into derivative instruments, which may include interest rate swaps, foreign-currency forwards, equity options, and interest rate options in connection with our risk-management activities. Our primary objective for utilizing derivative financial instruments is to manage interest rate risk associated with our fixed-rate and variable-rate assets and liabilities, foreign exchange risks related to our foreign-currency denominated assets and liabilities, and other market risks related to our investment portfolio.
Interest Rate Risk
We monitor our mix of fixed-rate and variable-rate assets and liabilities and may enter into interest rate swaps, forwards, and options to achieve our desired mix of fixed-rate and variable-rate assets and liabilities. We execute these trades to modify our exposure to interest rate risk by converting certain fixed-rate instruments to a variable-rate and certain variable-rate instruments to a fixed-rate. We use a mix of both derivatives that qualify for hedge accounting treatment and economic hedges (which do not qualify for hedge accounting treatment).
Derivatives qualifying for hedge accounting treatment can include receive-fixed swaps designated as fair value hedges of specific fixed-rate unsecured debt obligations, receive-fixed swaps designated as fair value hedges of specific fixed-rate FHLB advances, pay-fixed swaps designated as fair value hedges of securities within our available-for-sale portfolio, and pay-fixed swaps designated as fair value hedges of fixed-rate held-for-investment consumer automotive loan assets. Other derivatives qualifying for hedge accounting consist of pay-fixed swaps designated as cash flow hedges of the expected future cash flows in the form of interest payments on certain variable-rate borrowings and deposit liabilities, as well as interest rate floor contracts designated as cash flow hedges of the expected future cash flows in the form of interest receipts on a portion of our dealer floorplan commercial loans.
We execute economic hedges, which may consist of interest rate swaps, interest rate caps, forwards, and options to mitigate interest rate risk.
We also enter into interest rate lock commitments and forward commitments that are executed as part of our mortgage business that meet the accounting definition of a derivative.
Foreign Exchange Risk
We enter into derivative financial instrument contracts to mitigate the risk associated with variability in cash flows related to our various foreign-currency exposures.
We enter into foreign-currency forwards with external counterparties as net investment hedges of foreign exchange exposure on our investment in foreign subsidiaries. Our equity is impacted by the cumulative translation adjustments resulting from the translation of foreign subsidiary results; this impact is reflected in our accumulated other comprehensive income. We also periodically enter into foreign-currency forwards to economically hedge any foreign-denominated debt, centralized lending, and foreign-denominated third-party loans. These foreign-currency forwards that are used as economic hedges are recorded at fair value with changes recorded as income or expense offsetting the gains and losses on the associated foreign-currency transactions.
Investment Risk
We enter into equity options to mitigate the risk associated with our exposure to the equity markets.
Credit Risk
We enter into various retail automotive-loan purchase agreements with certain counterparties. As part of those agreements, we may withhold a portion of the purchase price from the counterparty and be required to pay the counterparty all or part of the amount withheld at agreed upon measurement dates and determinable amounts if actual credit performance of the acquired loans on the measurement date is better than or equal to what was estimated at the time of acquisition. Based upon these terms, these contracts meet the accounting definition of a derivative.
Counterparty Credit Risk
Derivative financial instruments contain an element of credit risk if counterparties are unable to meet the terms of the agreements. Credit risk associated with derivative financial instruments is measured as the net replacement cost should the counterparties that owe us under the contract completely fail to perform under the terms of those contracts, assuming no recoveries of underlying collateral as measured by the market value of the derivative financial instrument.
We manage our risk to financial counterparties through internal credit analysis, limits, and monitoring. Additionally, derivatives and repurchase agreements are entered into with approved counterparties using industry standard agreements.
We execute certain OTC derivatives, such as interest rate caps and floors, using bilateral agreements with financial counterparties. Bilateral agreements generally require both parties to post collateral in the event the fair values of the derivative financial instruments meet posting thresholds established under the agreements. In the event that either party defaults on the obligation, the secured party may seize the collateral. Payments related to the exchange of collateral for OTC derivatives are recognized as collateral.
We also execute certain derivatives, such as interest rate swaps, with clearinghouses, which requires us to post and receive collateral. For these clearinghouse derivatives, these payments are recognized as settlements rather than collateral.
Certain derivative instruments contain provisions that require us to either post additional collateral or immediately settle any outstanding liability balances upon the occurrence of a specified credit-risk-related event. No such specified credit-risk-related events occurred during the three months ended March 31, 2022, or 2021.
We placed cash and noncash collateral totaling $6 million and $260 million, respectively, supporting our derivative positions at March 31, 2022, compared to $2 million and $203 million of cash and noncash collateral at December 31, 2021, in accounts maintained by counterparties. These amounts include collateral placed at clearinghouses and exclude cash and noncash collateral pledged under repurchase agreements. The receivables for cash collateral placed are included on our Condensed Consolidated Balance Sheet in other assets.
We received cash collateral from counterparties totaling $13 million and $4 million in accounts maintained by counterparties at March 31, 2022, and December 31, 2021, respectively. This amount includes collateral received from clearinghouses and exclude cash and noncash collateral pledged under repurchase agreements. The payables for cash collateral received are included on our Condensed Consolidated Balance Sheet in accrued expenses and other liabilities. Included in these amounts is noncash collateral where we have been granted the right to sell or pledge the underlying assets. We have not sold or pledged any of the noncash collateral received under these agreements.
Balance Sheet Presentation
The following table summarizes the amounts of derivative instruments reported on our Condensed Consolidated Balance Sheet. The amounts are presented on a gross basis, are segregated by derivatives that are designated and qualifying as hedging instruments or those that are not, and are further segregated by type of contract within those two categories.
Derivative contracts in a receivable and payable position exclude open trade equity on derivatives cleared through central clearing counterparties. Any associated margin exchanged with our central clearing counterparties are treated as settlements of the derivative exposure, rather than collateral. Such payments are recognized as settlements of the derivatives contracts in a receivable and payable position on our Condensed Consolidated Balance Sheet.
Notional amounts are reference amounts from which contractual obligations are derived and are not recorded on the balance sheet. In our view, derivative notional is not an accurate measure of our derivative exposure when viewed in isolation from other factors, such as market rate fluctuations and counterparty credit risk.
March 31, 2022December 31, 2021
Derivative contracts in a
Notional amount
Derivative contracts in a
Notional amount
($ in millions)
receivable position
payable position
receivable position
payable position
Derivatives designated as accounting hedges
Interest rate contracts
Swaps
$— $— $20,043 $— $— $17,039 
Foreign exchange contracts
Forwards
— 3 160 — 2 171 
Total derivatives designated as accounting hedges
— 3 20,203 — 2 17,210 
Derivatives not designated as accounting hedges
Interest rate contracts
Futures and forwards
2 — 328 1 — 223 
Written options
3 7 389 5 2 580 
Total interest rate risk
5 7 717 6 2 803 
Foreign exchange contracts
Futures and forwards— 2 439 — 1 154 
Total foreign exchange risk— 2 439 — 1 154 
Credit contracts (a)
Other credit derivatives— 57 n/a— 56 n/a
Total credit risk— 57 n/a— 56 n/a
Equity contracts
Written options
— 4 2 — 1 2 
Purchased options
3 — — 1 — — 
Total equity risk
3 4 2 1 1 2 
Total derivatives not designated as accounting hedges
8 70 1,158 7 60 959 
Total derivatives
$8 $73 $21,361 $7 $62 $18,169 
n/a = not applicable
(a)The maximum potential amount of undiscounted future payments that could be required under these credit derivatives was $116 million and $119 million as of March 31, 2022, and December 31, 2021, respectively.
The following table presents amounts recorded on our Condensed Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges.
($ in millions)Carrying amount of the hedged itemsCumulative amount of fair value hedging adjustment included in the carrying amount of the hedged items
TotalDiscontinued (a)
March 31, 2022December 31, 2021March 31, 2022December 31, 2021March 31, 2022December 31, 2021
Assets
Available-for-sale securities (b)$5,405 $5,119 $(59)$(14)$(68)$(30)
Finance receivables and loans, net (c)43,485 44,098 (350)(37)36 46 
Liabilities
Long-term debt$7,190 $7,213 $112 $110 $110 $110 
(a)Represents the fair value hedging adjustment on qualifying hedges for which the hedging relationship was discontinued. This represents a subset of the amounts reported in the total hedging adjustment.
(b)These amounts include amortized cost basis of closed portfolios of available-for-sale securities used to designate hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. At March 31, 2022, and December 31, 2021, the amortized cost basis of the closed portfolios used in these hedging relationships was $4.1 billion and $3.9 billion, respectively. At March 31, 2022, and December 31, 2021, the total cumulative basis adjustments associated with these hedging relationships was a $44 million liability and a $6 million liability, respectively, of which the portion related to discontinued hedging relationships was a $54 million liability and a $20 million liability, respectively. At March 31, 2022, and December 31, 2021, the notional amounts of the designated hedged items were $2.0 billion and $1.2 billion, respectively, with cumulative basis adjustments of a $10 million asset and a $14 million asset, respectively, which would be allocated across the entire remaining closed pool upon termination or maturity of the hedge relationship. Refer to Note 7 for a reconciliation of the amortized cost and fair value of available-for-sale securities.
(c)These amounts include the amortized cost basis of closed portfolios of loan receivables used to designate hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. At March 31, 2022, and December 31, 2021, the amortized cost basis of the closed portfolios used in these hedging relationships was $43.5 billion and $44.1 billion, respectively. At March 31, 2022, and December 31, 2021, the total cumulative basis adjustments associated with these hedging relationships was a $350 million liability and a $37 million liability, respectively, of which the portion related to discontinued hedging relationships was a $36 million asset and a $46 million asset, respectively. At March 31, 2022, and December 31, 2021, the notional amounts of the designated hedged items were $17.6 billion and $15.6 billion, respectively, with cumulative basis adjustments of a $386 million liability and an $82 million liability, respectively, which would be allocated across the entire remaining closed pool upon termination or maturity of the hedge relationship.
Statement of Income Presentation
The following table summarizes the location and amounts of gains and losses on derivative instruments not designated as accounting hedges reported in our Condensed Consolidated Statement of Comprehensive Income.
Three months ended March 31,
($ in millions)20222021
(Loss) gain recognized in earnings
Interest rate contracts
Loss on mortgage and automotive loans, net$(2)$(7)
Other income, net of losses
3 — 
Total interest rate contracts
1 (7)
Foreign exchange contracts
Other operating expenses(3)(2)
Total foreign exchange contracts
(3)(2)
Credit contracts
Other income, net of losses(1)(8)
Total credit contracts(1)(8)
Total loss recognized in earnings$(3)$(17)
The following table summarizes the location and amounts of gains and losses on derivative instruments designated as qualifying fair value and cash flow hedges reported in our Condensed Consolidated Statement of Comprehensive Income.
Interest and fees on finance receivables and loansInterest and dividends on investment securities and other earning assetsInterest on depositsInterest on long-term debt
Three months ended March 31, ($ in millions)
20222021202220212022202120222021
(Loss) gain on fair value hedging relationships
Interest rate contracts
Hedged fixed-rate unsecured debt$— $— $— $— $— $— $(2)$139 
Derivatives designated as hedging instruments on fixed-rate unsecured debt— — — — — — 2 (139)
Hedged available-for-sale securities— — (42)(13)— — — — 
Derivatives designated as hedging instruments on available-for-sale securities— — 42 13 — — — — 
Hedged fixed-rate consumer automotive loans(304)(39)— — — — — — 
Derivatives designated as hedging instruments on fixed-rate consumer automotive loans304 39 — — — — — — 
Total gain on fair value hedging relationships
— — — — — — — — 
(Loss) gain on cash flow hedging relationships
Interest rate contracts
Hedged deposit liabilities
Reclassified from accumulated other comprehensive income into income— — — — — (1)— — 
Hedged variable-rate commercial loans
Reclassified from accumulated other comprehensive income into income6 22 — — — — — — 
Total gain (loss) on cash flow hedging relationships
$6 $22 $— $— $— $(1)$— $— 
Total amounts presented in the Condensed Consolidated Statement of Comprehensive Income$1,714 $1,582 $188 $131 $211 $306 $185 $250 
During the next 12 months, we estimate $20 million of gains will be reclassified into pretax earnings from derivatives designated as cash flow hedges.
The following table summarizes the location and amounts of gains and losses related to interest and amortization on derivative instruments designated as qualifying fair value and cash flow hedges reported in our Condensed Consolidated Statement of Comprehensive Income.
Interest and fees on finance receivables and loansInterest and dividends on investment securities and other earning assetsInterest on long-term debt
Three months ended March 31, ($ in millions)
202220212022202120222021
Gain (loss) on fair value hedging relationships
Interest rate contracts
Amortization of deferred unsecured debt basis adjustments$— $— $— $— $1 $1 
Interest for qualifying accounting hedges of unsecured debt— — — — — 1 
Amortization of deferred secured debt basis adjustments (FHLB advances)— — — — (1)(5)
Amortization of deferred basis adjustments of available-for-sale securities— — 1 (2)— — 
Interest for qualifying accounting hedges of available-for-sale securities— — (1)(1)— — 
Amortization of deferred loan basis adjustments(9)(13)— — — — 
Interest for qualifying accounting hedges of consumer automotive loans held for investment(18)(30)— — — — 
Total loss on fair value hedging relationships$(27)$(43)$— $(3)$— $(3)
The following table summarizes the effect of cash flow hedges on accumulated other comprehensive loss.
Three months ended March 31,
($ in millions)20222021
Interest rate contracts
Loss recognized in other comprehensive loss$(6)$(21)
The following table summarizes the effect of net investment hedges on accumulated other comprehensive loss and the Condensed Consolidated Statement of Comprehensive Income.
Three months ended March 31,
($ in millions)20222021
Foreign exchange contracts (a) (b)
Loss recognized in other comprehensive loss$(3)$(2)
(a)There were no amounts excluded from effectiveness testing for the three months ended March 31, 2022, or 2021.
(b)Gains and losses reclassified from accumulated other comprehensive loss are reported as other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income. There were no amounts reclassified for the three months ended March 31, 2022, or 2021
v3.22.1
Income Taxes
 3 Months Ended
Mar. 31, 2022
Income Tax Disclosure [Abstract]  
Income Taxes Income Taxes
We recognized total income tax expense from continuing operations of $191 million for the three months ended March 31, 2022, compared to income tax expense of $211 million for the same period in 2021. The decrease in income tax expense for the three months ended March 31, 2022, compared to the same period in 2021, was primarily due to the tax effects of a decrease in pretax earnings, partially offset by an increase of valuation allowance on foreign tax credit carryforwards.
As of each reporting date, we consider existing evidence, both positive and negative, that could impact our view with regard to future realization of deferred tax assets. We continue to believe it is more likely than not that the benefit for certain foreign tax credit carryforwards and state net operating loss carryforwards will not be realized. In recognition of this risk, we continue to provide a partial valuation allowance on the deferred tax assets relating to these carryforwards and it is reasonably possible that the valuation allowance may change in the next 12 months.
v3.22.1
Fair Value
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Value Fair Value
Fair Value Measurements
For purposes of this disclosure, fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market in an orderly transaction between market participants at the measurement date under current market conditions. Fair value is based on the assumptions we believe market participants would use when pricing an asset
or liability. Additionally, entities are required to consider all aspects of nonperformance risk, including the entity’s own credit standing, when measuring the fair value of a liability.
GAAP specifies a three-level hierarchy that is used when measuring and disclosing fair value. The fair value hierarchy gives the highest priority to quoted prices available in active markets (i.e., observable inputs) and the lowest priority to data lacking transparency (i.e., unobservable inputs). An instrument’s categorization within the fair value hierarchy is based on the lowest level of significant input to its valuation. The following is a description of the three hierarchy levels.
Level 1    Inputs are quoted prices in active markets for identical assets or liabilities at the measurement date. Additionally, the entity must have the ability to access the active market, and the quoted prices cannot be adjusted by the entity.
Level 2    Inputs are other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices in active markets for similar assets or liabilities; quoted prices in inactive markets for identical or similar assets or liabilities; or inputs that are observable or can be corroborated by observable market data by correlation or other means for substantially the full term of the assets or liabilities.
Level 3    Unobservable inputs are supported by little or no market activity. The unobservable inputs represent management’s best assumptions of how market participants would price the assets or liabilities. Generally, Level 3 assets and liabilities are valued using pricing models, discounted cash flow methodologies, or similar techniques that require significant judgment or estimation.
Judgment is used in estimating inputs to our internal valuation models used to estimate our Level 3 fair value measurements. Level 3 inputs such as interest rate movements, prepayment speeds, credit losses, and discount rates are inherently difficult to estimate. Changes to these inputs can have a significant effect on fair value measurements and amounts that could be realized.
The following are descriptions of the valuation methodologies used to measure material assets and liabilities at fair value and details of the valuation models, key inputs to those models, and significant assumptions utilized.
•Equity securities — We hold various marketable equity securities measured at fair value with changes in fair value recognized in net income. Measurements based on observable market prices are classified as Level 1.
•Available-for-sale securities — We carry our available-for-sale securities at fair value based on external pricing sources. We classify our securities as Level 1 when fair value is determined using quoted prices available for the same instruments trading in active markets. We classify our securities as Level 2 when fair value is determined using prices for similar instruments trading in active markets. We perform pricing validation procedures for our available-for-sale securities.
•Derivative instruments — We enter into a variety of derivative financial instruments as part of our risk-management strategies. Certain of these derivatives are exchange traded, such as equity options. To determine the fair value of these instruments, we utilize the quoted market prices for those particular derivative contracts; therefore, we classified these contracts as Level 1.
We also execute OTC and centrally cleared derivative contracts, such as interest rate swaps, foreign-currency denominated forward contracts, caps, floors, and agency to-be-announced securities. We utilize third-party-developed valuation models that are widely accepted in the market to value these derivative contracts. The specific terms of the contract and market observable inputs (such as interest rate forward curves, interpolated volatility assumptions, or equity pricing) are used in the model. We classified these derivative contracts as Level 2 because all significant inputs into these models were market observable.
We also enter into interest rate lock commitments that are executed as part of our mortgage business, certain of which meet the accounting definition of a derivative and therefore are recorded as derivatives on our Condensed Consolidated Balance Sheet. Interest rate lock commitments are valued using internal pricing models with unobservable inputs, so they are classified as Level 3.
We purchase automotive finance receivables and loans from third parties as part of forward flow arrangements and, from time-to-time, execute opportunistic ad-hoc bulk purchases. As part of those agreements, we may withhold a portion of the purchase price from the counterparty and be required to pay the counterparty all or part of the amount withheld at agreed upon measurement dates and determinable amounts if actual credit performance of the acquired loans on the measurement date is better than or equal to what was estimated at the time of acquisition. Because these contracts meet the accounting definition of a derivative, we recognize a liability at fair value for these deferred purchase price payments. The fair value of these liabilities is determined using a discounted cash flow method. To estimate cash flows, we utilize various significant assumptions, including market observable inputs (for example, forward interest rates) and internally developed inputs (for example, prepayment speeds, delinquency levels, and expected credit losses). These liabilities are valued using internal loss models with unobservable inputs, and are classified as Level 3.
We are required to consider all aspects of nonperformance risk, including our own credit standing, when measuring fair value of a liability. We reduce credit risk on the majority of our derivatives by entering into legally enforceable agreements that enable the posting and receiving of collateral associated with the fair value of our derivative positions on an ongoing basis. In the event that we do not enter into legally enforceable agreements that enable the posting and receiving of collateral, we will consider our credit risk and the credit risk of our counterparties in the valuation of derivative instruments through a CVA, if warranted. The CVA calculation would utilize the credit default swap spreads of the counterparty.
Recurring Fair Value
The following tables display the assets and liabilities measured at fair value on a recurring basis including financial instruments elected for the fair value option. We often economically hedge the fair value change of our assets or liabilities with derivatives and other financial instruments. The tables below display the hedges separately from the hedged items; therefore, they do not directly display the impact of our risk-management activities.
Recurring fair value measurements
March 31, 2022 ($ in millions)
Level 1Level 2Level 3Total
Assets
Investment securities
Equity securities (a)$868 $— $1 $869 
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies
2,387 — — 2,387 
U.S. States and political subdivisions
— 831 11 842 
Foreign government28 125 — 153 
Agency mortgage-backed residential
— 18,934 — 18,934 
Mortgage-backed residential
— 4,839 — 4,839 
Agency mortgage-backed commercial— 3,950 — 3,950 
Asset-backed— 483 — 483 
Corporate debt
— 1,797 — 1,797 
Total available-for-sale securities2,415 30,959 11 33,385 
Mortgage loans held-for-sale (b)
— 95 — 95 
Finance receivables and loans, net
Consumer other (b)— — 7 7 
Other assets
Derivative contracts in a receivable position
Interest rate— 2 3 5 
Equity contracts3 — — 3 
Total derivative contracts in a receivable position3 2 3 8 
Total assets$3,286 $31,056 $22 $34,364 
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position
Interest rate$— $— $7 $7 
Foreign currency— 5 — 5 
Credit contracts— — 57 57 
Equity contracts4 — — 4 
Total derivative contracts in a payable position
4 5 64 73 
Total liabilities$4 $5 $64 $73 
(a)Our direct investment in any one industry did not exceed 14%.
(b)Carried at fair value due to fair value option elections.
Recurring fair value measurements
December 31, 2021 ($ in millions)
Level 1Level 2Level 3Total
Assets
Investment securities
Equity securities (a)$1,093 $— $9 $1,102 
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies
2,155 — — 2,155 
U.S. States and political subdivisions
— 855 9 864 
Foreign government19 138 — 157 
Agency mortgage-backed residential
— 19,039 — 19,039 
Mortgage-backed residential
— 4,425 — 4,425 
Agency mortgage-backed commercial— 4,526 — 4,526 
Asset-backed— 534 — 534 
Corporate debt
— 1,887 — 1,887 
Total available-for-sale securities2,174 31,404 9 33,587 
Mortgage loans held-for-sale (b)
— 80 — 80 
Finance receivables and loans, net
Consumer other (b)— — 7 7 
Other assets
Derivative contracts in a receivable position
Interest rate— 1 5 6 
Equity contracts1 — — 1 
Total derivative contracts in a receivable position1 1 5 7 
Total assets$3,268 $31,485 $30 $34,783 
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position
Interest rate$— $— $2 $2 
Foreign currency— 3 — 3 
Credit contracts— — 56 56 
Equity contracts1 — — 1 
Total derivative contracts in a payable position
1 3 58 62 
Total liabilities$1 $3 $58 $62 
(a)Our direct investment in any one industry did not exceed 8%.
(b)Carried at fair value due to fair value option elections.
The following tables present the reconciliation for all Level 3 assets and liabilities measured at fair value on a recurring basis. We often economically hedge the fair value change of our assets or liabilities with derivatives and other financial instruments. The Level 3 items presented below may be hedged by derivatives and other financial instruments that are classified as Level 1 or Level 2. Thus, the following tables do not fully reflect the impact of our risk-management activities.
Equity securities (a)Available-for-sale securitiesMortgage loans held-for-sale (b) (c)Finance receivables and loans, net (b) (d)
($ in millions)20222021202220212022202120222021
Assets
Fair value at January 1,$9 $7 $9 $7 $— $91 $7 $8 
Net realized/unrealized gains (losses)
Included in earnings1 4 — — — 28 (1)2 
Included in OCI— — — — — — — — 
Purchases— — 2 — — 1,039 4 4 
Sales(9)— — — — (1,012)— — 
Issuances— — — — — — — — 
Settlements— — — — — — (3)(6)
Transfers into Level 3— — — — — — — — 
Transfers out of Level 3— — — — — — — — 
Fair value at March 31,$1 $11 $11 $7 $— $146 $7 $8 
Net unrealized gains (losses) still held at March 31,
Included in earnings$— $4 $— $— $— $1 $(1)$— 
Included in OCI— — — — — — — — 
(a)Net realized/unrealized gains (losses) are reported as other gain on investments, net, in the Condensed Consolidated Statement of Comprehensive Income.
(b)Carried at fair value due to fair value option elections.
(c)Net realized/unrealized gains (losses) are reported as gain on mortgage and automotive loans, net, in the Condensed Consolidated Statement of Comprehensive Income.
(d)Net realized/unrealized gains are reported as other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income.
Derivative liabilities, net of derivative assets (a)
($ in millions)20222021
Liabilities
Fair value at January 1,$53 $12 
Net realized/unrealized losses (gains)
Included in earnings8 15 
Included in OCI— — 
Purchases— — 
Sales— — 
Issuances— 1 
Settlements— — 
Transfers into Level 3— — 
Transfers out of Level 3— — 
Fair value at March 31,$61 $28 
Net unrealized losses (gains) still held at March 31,
Included in earnings$5 $15 
Included in OCI— — 
(a)Net realized/unrealized losses are reported as gain on mortgage and automotive loans, net, and other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income.
Nonrecurring Fair Value
We may be required to measure certain assets and liabilities at fair value from time to time. These periodic fair value measures typically result from the application of lower-of-cost or fair value accounting or certain impairment measures. These items would constitute nonrecurring fair value measures.
The following tables display assets and liabilities measured at fair value on a nonrecurring basis and still held at March 31, 2022, and December 31, 2021, respectively. The amounts are generally as of the end of each period presented, which approximate the fair value measurements that occurred during each period.
Nonrecurring fair value measurements
Lower-of-cost-or-fair-value reserve, valuation reserve, or cumulative adjustments
Total gain (loss) included in earnings
March 31, 2022 ($ in millions)
Level 1
Level 2
Level 3
Total
Assets
Loans held-for-sale, net$— $— $376 $376 $— n/m(a)
Commercial finance receivables and loans, net (b)
Automotive
— — 1 1 — n/m(a)
Other
— — 87 87 (85)n/m(a)
Total commercial finance receivables and loans, net
— — 88 88 (85)n/m(a)
Other assets
Nonmarketable equity investments— — 13 13 (2)n/m(a)
Repossessed and foreclosed assets (c)— — 4 4 — n/m(a)
Total assets
$— $— $481 $481 $(87)n/m
n/m = not meaningful
(a)We consider the applicable valuation allowance, allowance for loan losses, or cumulative impairment to be the most relevant indicator of the impact on earnings caused by the fair value measurement. Accordingly, the table above excludes total gains and losses included in earnings for these items. The carrying values are inclusive of the respective valuation reserve, loan loss allowance, or cumulative adjustment.
(b)Represents collateral-dependent loans held for investment for which a nonrecurring measurement was made. The related allowance for loan losses represents the cumulative fair value adjustments for those specific receivables.
(c)The allowance provided for repossessed and foreclosed assets represents any cumulative valuation adjustment recognized to adjust the assets to fair value.
Nonrecurring fair value measurementsLower-of-cost-or-fair-value reserve, valuation reserve, or cumulative adjustmentsTotal gain (loss) included in earnings
December 31, 2021 ($ in millions)
Level 1Level 2Level 3Total
Assets
Loans held-for-sale, net$— $— $468 $468 $— n/m(a)
Commercial finance receivables and loans, net (b)
Automotive— — 4 4 — n/m(a)
Other— — 112 112 (65)n/m(a)
Total commercial finance receivables and loans, net— — 116 116 (65)n/m(a)
Other assets
Nonmarketable equity investments— — 7 7 (5)n/m(a)
Repossessed and foreclosed assets (c)— — 4 4 — n/m(a)
Total assets$— $— $595 $595 $(70)n/m
n/m = not meaningful
(a)We consider the applicable valuation allowance, allowance for loan losses, or cumulative impairment 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.
Fair Value Option for Financial Assets
We elected the fair value option for an insignificant amount of conforming mortgage loans held-for-sale and certain acquired unsecured consumer finance receivables. We elected the fair value option for conforming mortgage loans held-for-sale to mitigate earnings volatility by better matching the accounting for the assets with the related derivatives. We elected the fair value option for certain acquired unsecured consumer finance receivables to mitigate the complexities of recording these loans at amortized cost. Our intent in electing fair value measurement was to mitigate a divergence between accounting gains or losses and economic exposure for certain assets and liabilities.
Fair Value of Financial Instruments
The following table presents the carrying and estimated fair value of financial instruments, except for those recorded at fair value on a recurring basis presented in the previous section of this note titled Recurring Fair Value. When possible, we use quoted market prices to determine fair value. Where quoted market prices are not available, the fair value is internally derived based on appropriate valuation methodologies with respect to the amount and timing of future cash flows and estimated discount rates. However, considerable judgment is required in interpreting current market data to develop the market assumptions and inputs necessary to estimate fair value. As such, the actual amount received to sell an asset or the amount paid to settle a liability could differ from our estimates. Fair value information presented herein was based on information available at March 31, 2022, and December 31, 2021.
Estimated fair value
($ in millions)
Carrying value
Level 1
Level 2
Level 3
Total
March 31, 2022
Financial assets
Held-to-maturity securities
$1,159 $— $1,106 $— $1,106 
Loans held-for-sale, net
376 — — 376 376 
Finance receivables and loans, net
122,057 — — 126,765 126,765 
FHLB/FRB stock (a)
856 — 856 — 856 
Financial liabilities
Deposit liabilities
$37,889 $— $— $37,793 $37,793 
Short-term borrowings
3,950 — — 3,950 3,950 
Long-term debt
15,885 — 10,991 6,514 17,505 
December 31, 2021
Financial assets
Held-to-maturity securities$1,170 $— $1,204 $— $1,204 
Loans held-for-sale, net469 — — 469 469 
Finance receivables and loans, net118,994 — — 126,044 126,044 
FHLB/FRB stock (a)738 — 738 — 738 
Financial liabilities
Deposit liabilities$40,953 $— $— $41,164 $41,164 
Long-term debt17,029 — 12,637 6,892 19,529 
(a)Included in other assets on our Condensed Consolidated Balance Sheet.
In addition to the financial instruments presented in the above table, we have various financial instruments for which the carrying value approximates the fair value due to their short-term nature and limited credit risk. These instruments include cash and cash equivalents, restricted cash, cash collateral, accrued interest receivable, accrued interest payable, trade receivables and payables, and other short-term receivables and payables. Included in cash and cash equivalents are highly liquid investments that are readily convertible to known amounts of cash and which are subject to an insignificant risk of change in value due to interest rate, quoted price, or penalty on withdrawal. Classified as Level 1 under the fair value hierarchy, cash and cash equivalents generally expose us to limited credit risk and are so near maturity that they present insignificant risk of changes in value because of changes in interest rates.
v3.22.1
Offsetting Assets and Liabilities
 3 Months Ended
Mar. 31, 2022
Offsetting [Abstract]  
Offsetting Assets and Liabilities Offsetting Assets and LiabilitiesOur derivative contracts and repurchase/reverse repurchase transactions are supported by qualifying master netting and master repurchase agreements. These agreements are legally enforceable bilateral agreements that (i) create a single legal obligation for all individual transactions covered by the agreement to the nondefaulting entity upon an event of default of the counterparty, including bankruptcy, insolvency, or similar proceeding, and (ii) provide the nondefaulting entity the right to accelerate, terminate, and close-out on a net basis all transactions under the agreement and to liquidate or set off collateral promptly upon an event of default of the counterparty.
To further mitigate the risk of counterparty default related to derivative instruments, we maintain collateral agreements with certain counterparties. The agreements require both parties to maintain collateral in the event the fair values of the derivative financial instruments meet established thresholds. In the event that either party defaults on the obligation, the secured party may seize the collateral. Generally, our collateral arrangements are bilateral such that we and the counterparty post collateral for the obligation. Contractual terms provide for standard and customary exchange of collateral based on changes in the market value of the outstanding derivatives. A party posts additional collateral when their obligation rises or removes collateral when it falls, such that the net replacement cost of the nondefaulting party is covered in the event of counterparty default.
In certain instances, as it relates to our derivative instruments, we have the option to report derivative assets and liabilities as well as assets and liabilities associated with cash collateral received or delivered that is governed by a master netting agreement on a net basis as long as certain qualifying criteria are met. Similarly, for our repurchase/reverse repurchase transactions, we have the option to report recognized assets and liabilities subject to a master netting agreement on a net basis if certain qualifying criteria are met. At March 31, 2022, these instruments are reported as gross assets and gross liabilities on the Condensed Consolidated Balance Sheet. For additional information on derivative instruments and hedging activities, refer to Note 19.
The composition of offsetting derivative instruments, financial assets, and financial liabilities was as follows.
Gross amounts of recognized assets/liabilitiesGross amounts offset on the Condensed Consolidated Balance SheetNet amounts of assets/liabilities presented on the Condensed Consolidated Balance SheetGross amounts not offset on the Condensed Consolidated Balance Sheet
($ in millions)
Financial instruments
Collateral (a) (b) (c)
Net amount
March 31, 2022
Assets
Derivative assets in net liability positions
$3 $— $3 $(3)$— $— 
Derivative assets with no offsetting arrangements
5 — 5 — — 5 
Total assets
$8 $— $8 $(3)$— $5 
Liabilities
Derivative liabilities in net liability positions
$9 $— $9 $(3)$(6)$— 
Derivative liabilities with no offsetting arrangements64 — 64 — — 64 
Total liabilities$73 $— $73 $(3)$(6)$64 
December 31, 2021
Assets
Derivative assets in net asset positions$1 $— $1 $(1)$— $— 
Derivative assets with no offsetting arrangements
6 — 6 — — 6 
Total assets
$7 $— $7 $(1)$— $6 
Liabilities
Derivative liabilities in net liability positions
$3 $— $3 $— $(2)$1 
Derivative liabilities in net asset positions
1 — 1 (1)— — 
Derivative liabilities with no offsetting arrangements58 — 58 — — 58 
Total liabilities$62 $— $62 $(1)$(2)$59 
(a)Financial collateral received/pledged shown as a balance based on the sum of all net asset and liability positions between Ally and each individual derivative counterparty.
(b)Amounts disclosed are limited to the financial asset or liability balance and, accordingly, exclude excess collateral received or pledged and noncash collateral received. We do not record such collateral received on our Condensed Consolidated Balance Sheet unless certain conditions are met.
(c)Certain agreements grant us the right to sell or pledge the noncash assets we receive as collateral. We have not sold or pledged any of the noncash collateral received under these agreements.
v3.22.1
Segment Information
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Segment Information Segment Information
Operating segments are defined as components of an enterprise that engage in business activity from which revenues are earned and expenses incurred for which discrete financial information is available that is evaluated regularly by our chief operating decision maker in deciding how to allocate resources and in assessing performance.
We report our results of operations on a business-line basis through four operating segments: Automotive Finance operations, Insurance operations, Mortgage Finance operations, and Corporate Finance operations, with the remaining activity reported in Corporate and Other. The operating segments are determined based on the products and services offered, and reflect the manner in which financial information is currently evaluated by management. The following is a description of each of our reportable operating segments.
Dealer Financial Services
Dealer Financial Services comprises our Automotive Finance and Insurance segments.
•Automotive Finance operations — One of the largest full-service automotive finance operations in the United States providing automotive financing services to consumers, automotive dealers, companies, and municipalities. Our automotive finance services include providing retail installment sales contracts, loans and operating leases, offering term loans to dealers, financing dealer floorplans and other lines of credit to dealers, warehouse lines to automotive retailers, fleet financing, providing financing to companies and municipalities for the purchase or lease of vehicles, and vehicle-remarketing services.
•Insurance operations — A complementary automotive-focused business offering both consumer finance protection and insurance products sold primarily through the automotive dealer channel, and commercial insurance products sold directly to dealers. As part of our focus on offering dealers a broad range of consumer financial and insurance products, we provide VSCs, VMCs, and GAP products. We also underwrite select commercial insurance coverages, which primarily insure dealers’ vehicle inventory.
Mortgage Finance operations
Our held-for-investment portfolio includes our direct-to-consumer Ally Home mortgage offering and bulk purchases of high-quality jumbo and LMI mortgage loans originated by third parties. Through our direct-to-consumer channel, we offer a variety of competitively priced jumbo and conforming fixed- and adjustable-rate mortgage products through a third-party fulfillment provider. Through the bulk loan channel, we purchase loans from several qualified sellers on a servicing-released basis, allowing us to directly oversee servicing activities and manage refinancing through our direct-to-consumer channel.
Corporate Finance operations
Primarily provides senior secured leveraged cash flow and asset-based loans to mostly U.S.-based middle-market companies, with a focus on businesses owned by private equity sponsors. These loans are typically used for leveraged buyouts, refinancing and recapitalizations, mergers and acquisitions, growth, turnarounds, and debtor-in-possession financings. We also provide, through our Lender Finance business, nonbank wholesale-funded managers with partial funding for their direct-lending activities, which is principally leveraged loans. Additionally, we offer a commercial real estate product to serve companies in the healthcare industry.
Corporate and Other primarily consists of centralized corporate treasury activities, such as management of the cash and corporate investment securities and loan portfolios, short- and long-term debt, retail and brokered deposit liabilities, derivative instruments, original issue discount, and the residual impacts of our corporate FTP and treasury ALM activities. Corporate and Other also includes certain equity investments, which primarily consist of FHLB and FRB stock—as well as other strategic investments—and the management of our legacy mortgage portfolio, which primarily consists of loans originated prior to January 1, 2009, and reclassifications and eliminations between the reportable operating segments. Financial results related to Ally Invest, our digital brokerage and wealth management offering, Ally Lending, our point-of-sale financing business, Ally Credit Card, and CRA loans and related investments are also included within Corporate and Other.
We utilize an FTP methodology for the majority of our business operations. The FTP methodology assigns charge rates and credit rates to classes of assets and liabilities based on expected duration and the benchmark rate curve plus an assumed credit spread. Matching duration allocates interest income and interest expense to these reportable segments so their respective results are insulated from interest rate risk. This methodology is consistent with our ALM practices, which includes managing interest rate risk centrally at a corporate level. The net residual impact of the FTP methodology is included within the results of Corporate and Other.
The information presented in our reportable operating segments is based in part on internal allocations, which involve management judgment.
Financial information for our reportable operating segments is summarized as follows.
Three months ended March 31, ($ in millions)
Automotive Finance operationsInsurance operationsMortgage Finance operationsCorporate Finance operationsCorporate and OtherConsolidated (a)
2022
Net financing revenue and other interest income$1,295 $17 $53 $83 $245 $1,693 
Other revenue68 270 14 24 66 442 
Total net revenue1,363 287 67 107 311 2,135 
Provision for credit losses104 — — 6 57 167 
Total noninterest expense534 274 56 37 221 1,122 
Income from continuing operations before income tax expense$725 $13 $11 $64 $33 $846 
Total assets$105,754 $9,220 $18,596 $8,086 $42,641 $184,297 
2021
Net financing revenue and other interest income$1,206 $15 $23 $71 $57 $1,372 
Other revenue62 379 40 26 58 565 
Total net revenue1,268 394 63 97 115 1,937 
Provision for credit losses(22)— (4)13 — (13)
Total noninterest expense487 253 44 31 128 943 
Income (loss) from continuing operations before income tax expense$803 $141 $23 $53 $(13)$1,007 
Total assets$101,566 $9,221 $12,923 $6,421 $51,748 $181,879 
(a)Net financing revenue and other interest income after the provision for credit losses totaled $1.5 billion and $1.4 billion for the three months ended March 31, 2022, and March 31, 2021, respectively.
v3.22.1
Contingencies and Other Risks
 3 Months Ended
Mar. 31, 2022
Loss Contingency [Abstract]  
Contingencies and Other Risks Contingencies and Other Risks
As a financial-services company, we are regularly involved in pending or threatened legal proceedings and other matters and are or may be subject to potential liability in connection with them. These legal matters may be formal or informal and include litigation and arbitration with one or more identified claimants, certified or purported class actions with yet-to-be-identified claimants, and regulatory or other governmental information-gathering requests, examinations, investigations, and enforcement proceedings. Our legal matters exist in varying stages of adjudication, arbitration, negotiation, or investigation and span our business lines and operations. Claims may be based in law or equity—such as those arising under contracts or in tort and those involving banking, consumer-protection, securities, tax, employment, and other laws—and some can present novel legal theories and allege substantial or indeterminate damages.
Ally and its subsidiaries, including Ally Bank, also are or may be subject to potential liability under other contingent exposures, including indemnification, tax, self-insurance, and other miscellaneous contingencies.
We accrue for a legal matter or other contingent exposure when a loss becomes probable and the amount of loss can be reasonably estimated. Accruals are evaluated each quarter and may be adjusted, upward or downward, based on our best judgment after consultation with counsel. No assurance exists that our accruals will not need to be adjusted in the future. When a probable or reasonably possible loss on a legal matter or other contingent exposure could be material to our consolidated financial condition, results of operations, or cash flows, we provide disclosure in this note as prescribed by ASC Topic 450, Contingencies. Refer to Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K for additional information related to our policy for establishing accruals.
The course and outcome of legal matters are inherently unpredictable. This is especially so when a matter is still in its early stages, the damages sought are indeterminate or unsupported, significant facts are unclear or disputed, novel questions of law or other meaningful legal uncertainties exist, a request to certify a proceeding as a class action is outstanding or granted, multiple parties are named, or regulatory or other governmental entities are involved. Other contingent exposures and their ultimate resolution are similarly unpredictable for reasons that can vary based on the circumstances.
As a result, we often are unable to determine how or when threatened or pending legal matters and other contingent exposures will be resolved and what losses may be incrementally and ultimately incurred. Actual losses may be higher or lower than any amounts accrued or estimated for those matters and other exposures, possibly to a significant degree.
Subject to the foregoing, based on our current knowledge and after consultation with counsel, we do not believe that the ultimate outcomes of currently threatened or pending legal matters and other contingent exposures are likely to be material to our consolidated
financial condition after taking into account existing accruals. In light of the uncertainties inherent in these matters and other exposures, however, one or more of them could be material to our results of operations or cash flows during a particular reporting period, depending on factors such as the amount of the loss or liability and the level of our income for that period.
v3.22.1
Subsequent Events
 3 Months Ended
Mar. 31, 2022
Subsequent Events [Abstract]  
Subsequent Events Subsequent Events
Declaration of Common Dividend
On April 13, 2022, our Board declared a quarterly cash dividend of $0.30 per share on all common stock. The dividend is payable on May 16, 2022, to stockholders of record at the close of business on May 2, 2022.
v3.22.1
Description of Business, Basis of Presentation, and Changes in Significant Accounting Policies (Policies)
 3 Months Ended
Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation Our accounting and reporting policies conform to U.S. GAAP. Additionally, where applicable, the policies conform to the accounting and reporting guidelines prescribed by bank regulatory authorities. Certain reclassifications may have been made to the prior periods’ financial statements and notes to conform to the current period’s presentation, which did not have a material impact on our Condensed Consolidated Financial Statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and that affect income and expenses during the reporting period and related disclosures. In developing the estimates and assumptions, management uses all available evidence; however, actual results could differ because of uncertainties associated with estimating the amounts, timing, and likelihood of possible outcomes. Our most significant estimates pertain to the allowance for loan losses, valuations of automotive lease assets and residuals, fair value of financial instruments, and the determination of the provision for income taxes.
Income Taxes
Income Taxes
In calculating the provision for interim income taxes, in accordance with ASC 740, Income Taxes, we apply an estimated annual effective tax rate to year-to-date ordinary income. At the end of each interim period, we estimate the effective tax rate expected to be applicable for the full fiscal year. This method differs from that described in Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K, which describes our annual significant income tax accounting policy and related methodology.
Refer to Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K regarding additional significant accounting policies.
Recently Issued Accounting Standards
Recently Issued Accounting Standards
Fair Value Hedging—Portfolio Layer Method (ASU 2022-01)
In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method. The purpose of this guidance is to expand the current last-of-layer method to allow multiple hedged layers of a single closed portfolio. This change will allow hedge accounting to be achieved using different types of derivatives and layering techniques, including the use of amortizing swaps with clarification that such a trade would be viewed as being a single layer. Under this expanded scope, both prepayable and nonprepayable financial assets may be included in a single closed portfolio hedge. In addition, the guidance provides clarifications to breach requirements and disclosures. As a result of this change, the last-of-layer method has been renamed the portfolio layer method. The amendments are effective on January 1, 2023, with early adoption permitted. The amendments must be applied using a prospective approach and will not have a material impact upon adoption.
Troubled Debt Restructurings and Vintage Disclosures (ASU 2022-02)
In March 2022, the FASB issued ASU 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. The purpose of this guidance is twofold. First, the guidance eliminates TDR recognition and measurement guidance that has been deemed no longer necessary under CECL. The guidance also adds a requirement to incorporate current year gross charge-offs by origination year into the vintage tables. With respect to the TDR impacts, under CECL, credit losses for financial assets measured at amortized cost are determined based on the total current expected credit losses over the life of the financial asset or group of financial assets. Therefore, credit losses on financial assets that have been modified as TDRs would have largely been incorporated in the allowance upon initial recognition. Under ASU 2022-02, we will be required to evaluate whether loan modifications previously characterized as TDRs represent a new loan or a continuation of an existing loan in accordance with ASC Topic 310, Receivables. The guidance also adds new disclosures that will require an entity to provide information related to loan modifications that are made to borrowers that are deemed to be in financial difficulty. The amendments are effective on January 1, 2023, with early adoption permitted. The amendments must be applied using a prospective approach; however, for the transition away from TDRs, the amendments may be adopted using a modified retrospective approach with a cumulative-effect adjustment through retained earnings as of the beginning of the fiscal year upon adoption. Management is currently evaluating the impact of these amendments.
Fair Value Measurements
Fair Value Measurements
For purposes of this disclosure, fair value is defined as the exchange price that would be received to sell an asset or paid to transfer a liability (exit price) in the principal or most advantageous market in an orderly transaction between market participants at the measurement date under current market conditions. Fair value is based on the assumptions we believe market participants would use when pricing an asset
or liability. Additionally, entities are required to consider all aspects of nonperformance risk, including the entity’s own credit standing, when measuring the fair value of a liability.
GAAP specifies a three-level hierarchy that is used when measuring and disclosing fair value. The fair value hierarchy gives the highest priority to quoted prices available in active markets (i.e., observable inputs) and the lowest priority to data lacking transparency (i.e., unobservable inputs). An instrument’s categorization within the fair value hierarchy is based on the lowest level of significant input to its valuation. The following is a description of the three hierarchy levels.
Level 1    Inputs are quoted prices in active markets for identical assets or liabilities at the measurement date. Additionally, the entity must have the ability to access the active market, and the quoted prices cannot be adjusted by the entity.
Level 2    Inputs are other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices in active markets for similar assets or liabilities; quoted prices in inactive markets for identical or similar assets or liabilities; or inputs that are observable or can be corroborated by observable market data by correlation or other means for substantially the full term of the assets or liabilities.
Level 3    Unobservable inputs are supported by little or no market activity. The unobservable inputs represent management’s best assumptions of how market participants would price the assets or liabilities. Generally, Level 3 assets and liabilities are valued using pricing models, discounted cash flow methodologies, or similar techniques that require significant judgment or estimation.
Judgment is used in estimating inputs to our internal valuation models used to estimate our Level 3 fair value measurements. Level 3 inputs such as interest rate movements, prepayment speeds, credit losses, and discount rates are inherently difficult to estimate. Changes to these inputs can have a significant effect on fair value measurements and amounts that could be realized.
v3.22.1
Acquisitions (Tables)
 3 Months Ended
Mar. 31, 2022
Business Combination and Asset Acquisition [Abstract]  
Schedule of Business Acquisitions, by Acquisition
The following table summarizes the allocation of cash consideration paid for Fair Square and the amounts of the identifiable assets acquired and liabilities assumed at the acquisition date.
($ in millions)
Purchase price
Cash consideration$741 
Allocation of purchase price to net assets acquired
Finance receivables and loans (a)870 
Intangible assets (b)98 
Cash and short-term investments42 
Other assets46 
Debt(765)
Other liabilities(29)
Goodwill$479 
(a)Includes $22 million of PCD loans that have experienced a more-than-insignificant deterioration of credit quality since origination. We recognized an initial allowance for loan losses of $12 million on these PCD loans.
(b)The weighted average amortization period on the acquired intangible assets is 7 years. Refer to Note 11 for further information on our intangible assets.
v3.22.1
Revenue from Contracts with Customers (Tables)
 3 Months Ended
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]  
Disaggregation of Revenue
The following table presents a disaggregated view of our revenue from contracts with customers. For further information regarding our revenue recognition policies and details about the nature of our respective revenue streams, refer to Note 1 and Note 3 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K.
Three months ended March 31, ($ in millions)
Automotive Finance operationsInsurance operationsMortgage Finance operationsCorporate Finance operationsCorporate and OtherConsolidated
2022
Revenue from contracts with customers
Noninsurance contracts (a) (b) (c)$— $162 $— $— $— $162 
Remarketing fee income27 — — — — 27 
Brokerage commissions and other revenue— — — — 11 11 
Banking fees and interchange income (d) (e)— — — — 11 11 
Brokered/agent commissions— 4 — — — 4 
Other5 — — — 1 6 
Total revenue from contracts with customers
32 166 — — 23 221 
All other revenue
36 104 14 24 43 221 
Total other revenue (f)$68 $270 $14 $24 $66 $442 
2021
Revenue from contracts with customers
Noninsurance contracts (a) (b) (c)$— $155 $— $— $— $155 
Remarketing fee income27 — — — — 27 
Brokerage commissions and other revenue— — — — 20 20 
Banking fees and interchange income— — — — 6 6 
Brokered/agent commissions— 4 — — — 4 
Other6 — — — — 6 
Total revenue from contracts with customers
33 159 — — 26 218 
All other revenue29 220 40 26 32 347 
Total other revenue (f)$62 $379 $40 $26 $58 $565 
(a)We had opening balances of $3.1 billion and $3.0 billion in unearned revenue associated with outstanding contracts at December 31, 2021, and 2020, respectively, and $231 million and $225 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 March 31, 2022, and 2021, respectively.
(b)At March 31, 2022, we had unearned revenue of $3.0 billion associated with outstanding contracts, and with respect to this balance we expect to recognize revenue of $648 million during the remainder of 2022, $794 million in 2023, $644 million in 2024, $448 million in 2025, and $490 million thereafter. At March 31, 2021, we had unearned revenue of $3.0 billion associated with outstanding contracts.
(c)We had deferred insurance assets of $1.8 billion and $1.9 billion at March 31, 2022, and December 31, 2021, respectively, and recognized $137 million of expense during the three months ended March 31, 2022. We had deferred insurance assets of $1.8 billion at both March 31, 2021, and December 31, 2020, and recognized $132 million of expense during the three months ended March 31, 2021.
(d)Effective May 25, 2021, we eliminated all overdraft fees for Ally Bank deposit accounts.
(e)Interchange income is reported net of customer rewards. Customer rewards expense was $3 million for the three months ended March 31, 2022.
(f)Represents a component of total net revenue. Refer to Note 23 for further information on our reportable operating segments.
v3.22.1
Other Income, Net of Losses (Tables)
 3 Months Ended
Mar. 31, 2022
Other Nonoperating Income (Expense) [Abstract]  
Schedule of Other Income, by Component
Details of other income, net of losses, were as follows.
Three months ended March 31,
($ in millions)20222021
Late charges and other administrative fees$37 $31 
Remarketing fees27 27 
Income from equity-method investments20 14 
(Loss) gain on nonmarketable equity investments, net(1)4 
Other, net60 51 
Total other income, net of losses$143 $127 
v3.22.1
Reserves for Insurance Losses and Loss Adjustment Expenses (Tables)
 3 Months Ended
Mar. 31, 2022
Short-duration Insurance Contracts, Liability for Unpaid Claims and Allocated Claim Adjustment Expense, Net [Abstract]  
Schedule of Liability for Unpaid Claims and Claims Adjustment Expense
The following table shows a rollforward of our reserves for insurance losses and loss adjustment expenses.
($ in millions)20222021
Total gross reserves for insurance losses and loss adjustment expenses at January 1,$122 $129 
Less: Reinsurance recoverable81 90 
Net reserves for insurance losses and loss adjustment expenses at January 1,41 39 
Net insurance losses and loss adjustment expenses incurred related to:
Current year61 64 
Prior years (a)(3)(1)
Total net insurance losses and loss adjustment expenses incurred58 63 
Net insurance losses and loss adjustment expenses paid or payable related to:
Current year(36)(36)
Prior years(20)(23)
Total net insurance losses and loss adjustment expenses paid or payable(56)(59)
Net reserves for insurance losses and loss adjustment expenses at March 31,43 43 
Plus: Reinsurance recoverable80 89 
Total gross reserves for insurance losses and loss adjustment expenses at March 31,$123 $132 
(a)There have been no material adverse changes to the reserve for prior years.
v3.22.1
Other Operating Expenses (Tables)
 3 Months Ended
Mar. 31, 2022
Operating Expenses [Abstract]  
Schedule of Other Operating Cost and Expense, by Component
Details of other operating expenses were as follows.
Three months ended March 31,
($ in millions)20222021
Insurance commissions$149 $136 
Technology and communications97 78 
Advertising and marketing72 41 
Lease and loan administration51 55 
Professional services43 33 
Property and equipment depreciation39 36 
Regulatory and licensing fees26 18 
Vehicle remarketing and repossession20 21 
Amortization of intangible assets (a)8 5 
Other66 62 
Total other operating expenses$571 $485 
(a)Refer to Note 11 for further information on our intangible assets.
v3.22.1
Investment Securities (Tables)
 3 Months Ended
Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
Investment Portfolio The cost, fair value, and gross unrealized gains and losses on available-for-sale and held-to-maturity securities were as follows.
March 31, 2022December 31, 2021
Amortized costGross unrealized
Fair value
Amortized costGross unrealized
Fair value
($ in millions)gainslossesgainslosses
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies$2,517 $— $(130)$2,387 $2,173 $2 $(20)$2,155 
U.S. States and political subdivisions886 3 (47)842 841 27 (4)864 
Foreign government161 — (8)153 157 2 (2)157 
Agency mortgage-backed residential
20,100 12 (1,178)18,934 19,044 219 (224)19,039 
Mortgage-backed residential5,158 1 (320)4,839 4,448 11 (34)4,425 
Agency mortgage-backed commercial4,371 12 (433)3,950 4,573 66 (113)4,526 
Asset-backed499 — (16)483 536 1 (3)534 
Corporate debt1,900 3 (106)1,797 1,878 30 (21)1,887 
Total available-for-sale securities (a) (b) (c) (d) (e)
$35,592 $31 $(2,238)$33,385 $33,650 $358 $(421)$33,587 
Held-to-maturity securities
Debt securities
Agency mortgage-backed residential$1,159 $8 $(61)$1,106 $1,170 $48 $(14)$1,204 
Total held-to-maturity securities (e) (f)$1,159 $8 $(61)$1,106 $1,170 $48 $(14)$1,204 
(a)Certain entities related to our Insurance operations are required to deposit securities with state regulatory authorities. These deposited securities totaled $12 million and $13 million at March 31, 2022, and December 31, 2021, respectively.
(b)Certain available-for-sale securities are included in fair value hedging relationships. Refer to Note 19 for additional information.
(c)Available-for-sale securities with a fair value of $227 million and $203 million at March 31, 2022, and December 31, 2021, respectively, were pledged for purposes as required by contractual obligation or law. Under these agreements, we granted the counterparty the right to sell or pledge the underlying investment securities.
(d)Totals do not include accrued interest receivable, which was $88 million and $84 million at March 31, 2022, and December 31, 2021, respectively. Accrued interest receivable is included in other assets on our Condensed Consolidated Balance Sheet.
(e)There was no allowance for credit losses recorded at March 31, 2022, or December 31, 2021, as management determined that there were no expected credit losses in our portfolio of available-for-sale and held-to-maturity securities.
(f)Totals do not include accrued interest receivable, which was $2 million and $3 million at March 31, 2022, and December 31, 2021, respectively. Accrued interest receivable is included in other assets on our Condensed Consolidated Balance Sheet.
Investments Classified by Contractual Maturity Date
The maturity distribution of debt securities outstanding is summarized in the following tables based upon contractual maturities. Call or prepayment options may cause actual maturities to differ from contractual maturities.
TotalDue in one year or lessDue after one year through five yearsDue after five years through ten yearsDue after ten years
($ in millions)AmountYieldAmountYieldAmountYieldAmountYieldAmountYield
March 31, 2022
Fair value of available-for-sale securities (a)
U.S. Treasury and federal agencies$2,387 1.3 %$286 1.0 %$600 1.1 %$1,501 1.4 %$— — %
U.S. States and political subdivisions842 3.0 37 2.3 75 2.8 131 3.3 599 3.0 
Foreign government153 1.6 1 1.0 88 1.6 64 1.7 — — 
Agency mortgage-backed residential18,934 2.5 — — — — 23 2.0 18,911 2.5 
Mortgage-backed residential4,839 2.6 — — — — 20 2.9 4,819 2.6 
Agency mortgage-backed commercial3,950 2.0 — — — — 1,117 2.3 2,833 1.8 
Asset-backed483 1.8 — — 336 1.9 139 1.5 8 3.4 
Corporate debt1,797 2.3 69 2.4 814 2.2 901 2.3 13 3.0 
Total available-for-sale securities$33,385 2.3 $393 1.4 $1,913 1.8 $3,896 2.0 $27,183 2.4 
Amortized cost of available-for-sale securities
$35,592 $394 $1,979 $4,135 $29,084 
Amortized cost of held-to-maturity securities
Agency mortgage-backed residential$1,159 2.8 %$— — %$— — %$— — %$1,159 2.8 %
Total held-to-maturity securities
$1,159 2.8 $— — $— — $— — $1,159 2.8 
December 31, 2021
Fair value of available-for-sale securities (a)
U.S. Treasury and federal agencies$2,155 1.1 %$288 1.0 %$525 0.9 %$1,342 1.2 %$— — %
U.S. States and political subdivisions864 3.0 26 1.6 77 2.8 128 3.3 633 3.0 
Foreign government157 1.9 2 2.1 97 2.0 58 1.8 — — 
Agency mortgage-backed residential19,039 2.5 — — — — 26 2.0 19,013 2.5 
Mortgage-backed residential4,425 2.6 — — — — 23 2.9 4,402 2.6 
Agency mortgage-backed commercial4,526 1.9 — — 26 2.4 1,578 2.4 2,922 1.7 
Asset-backed534 1.9 — — 350 2.0 175 1.5 9 3.4 
Corporate debt1,887 2.3 54 2.9 830 2.3 994 2.3 9 2.5 
Total available-for-sale securities$33,587 2.3 $370 1.3 $1,905 1.9 $4,324 2.0 $26,988 2.4 
Amortized cost of available-for-sale securities
$33,650 $368 $1,893 $4,291 $27,098 
Amortized cost of held-to-maturity securities
Agency mortgage-backed residential
$1,170 2.8 %$— — %$— — %$— — %$1,170 2.8 %
Total held-to-maturity securities
$1,170 2.8 $— — $— — $— — $1,170 2.8 
(a)Yield is calculated using the effective yield of each security at the end of the period, weighted based on the market value. The effective yield considers the contractual coupon and amortized cost, and excludes expected capital gains and losses.
Investment Income
The following table presents interest and dividends on investment securities.
Three months ended March 31,
($ in millions)20222021
Taxable interest$174 $114 
Taxable dividends4 5 
Interest and dividends exempt from U.S. federal income tax5 5 
Interest and dividends on investment securities$183 $124 
Schedule of Realized Gain (Loss)
The following table presents gross gains and losses realized upon the sales of available-for-sale securities, and net gains or losses on equity securities held during the period.
Three months ended March 31,
($ in millions)
20222021
Available-for-sale securities
Gross realized gains$18 $32 
Net realized gains on available-for-sale securities18 32 
Net realized gain on equity securities52 74 
Net unrealized (loss) gain on equity securities(65)17 
Other gain on investments, net$5 $123 
Held to Maturity Debt Securities by Credit Quality
The following table presents the credit quality of our held-to-maturity securities, based on the latest available information as of March 31, 2022, and December 31, 2021. The credit ratings are sourced from nationally recognized statistical rating organizations, which include S&P, Moody’s, and Fitch. They represent a composite of the ratings or, where credit ratings cannot be sourced from the agencies, are presented based on the asset type. All of our held-to-maturity securities were current in their payment of principal and interest as of March 31, 2022, and December 31, 2021. We have not recorded any interest income reversals on our held-to-maturity securities during the three months ended March 31, 2022, or 2021.
March 31, 2022December 31, 2021
($ in millions)AATotal (a)AATotal (a)
Debt securities
Agency mortgage-backed residential$1,159 $1,159 $1,170 $1,170 
Total held-to-maturity securities$1,159 $1,159 $1,170 $1,170 
(a)Rating agencies indicate that they base their ratings on many quantitative and qualitative factors, which may include capital adequacy, liquidity, asset quality, business mix, level and quality of earnings, and the current operating, legislative, and regulatory environment. A credit rating is not a recommendation to buy, sell, or hold securities, and the ratings are subject to revision or withdrawal at any time by the assigning rating agency.
Schedule of Unrealized Loss on Investments
The following table summarizes available-for-sale securities in an unrealized loss position, which we evaluated to determine if a credit loss exists requiring the recognition of an allowance for credit losses. For additional information on our methodology, refer to Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K. As of March 31, 2022, and December 31, 2021, we did not have the intent to sell the available-for-sale securities with an unrealized loss position and we do not believe it is more likely than not that we will be required to sell these securities before recovery of their amortized cost basis. We have not recorded any interest income reversals on our available-for-sale securities during the three months ended March 31, 2022, or 2021.
March 31, 2022December 31, 2021
Less than 12 months12 months or longerLess than 12 months12 months or longer
($ in millions)
Fair value
Unrealized loss
Fair value
Unrealized loss
Fair valueUnrealized lossFair valueUnrealized loss
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies$1,952 $(93)$425 $(37)$1,682 $(20)$— $— 
U.S. States and political subdivisions541 (44)41 (3)160 (3)31 (1)
Foreign government115 (5)26 (3)76 (2)7 — 
Agency mortgage-backed residential13,237 (709)4,416 (469)12,244 (223)38 (1)
Mortgage-backed residential4,716 (319)19 (1)3,243 (34)22 — 
Agency mortgage-backed commercial2,713 (292)868 (141)2,553 (70)749 (43)
Asset-backed459 (16)3 — 360 (3)— — 
Corporate debt1,249 (75)261 (31)970 (18)49 (3)
Total available-for-sale securities
$24,982 $(1,553)$6,059 $(685)$21,288 $(373)$896 $(48)
v3.22.1
Finance Receivables and Loans, Net (Tables)
 3 Months Ended
Mar. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]  
Schedule of Accounts, Notes, Loans and Financing Receivable
The composition of finance receivables and loans reported at amortized cost basis was as follows.
($ in millions)March 31, 2022December 31, 2021
Consumer
Consumer automotive (a)$78,911 $78,252 
Consumer mortgage
Mortgage Finance (b)18,372 17,644 
Mortgage — Legacy (c)341 368 
Total consumer mortgage18,713 18,012 
Consumer other
Personal Lending (d)1,209 1,009 
Credit Card (e)1,036 953 
Total consumer other2,245 1,962 
Total consumer99,869 98,226 
Commercial
Commercial and industrial
Automotive13,497 12,229 
Other6,997 6,874 
Commercial real estate5,002 4,939 
Total commercial25,496 24,042 
Total finance receivables and loans (f) (g)$125,365 $122,268 
(a)Certain finance receivables and loans are included in fair value hedging relationships. Refer to Note 19 for additional information.
(b)Includes loans originated as interest-only mortgage loans of $5 million at both March 31, 2022, and December 31, 2021. All of these loans have exited the interest-only period.
(c)Includes loans originated as interest-only mortgage loans of $20 million and $21 million at March 31, 2022, and December 31, 2021, respectively, of which all have exited the interest-only period.
(d)Includes $7 million of finance receivables at both March 31, 2022, and December 31, 2021, for which we have elected the fair value option.
(e)Refer to Note 2 for information regarding our acquisition of Fair Square.
(f)Totals include net unearned income, unamortized premiums and discounts, and deferred fees and costs of $2.3 billion at both March 31, 2022, and December 31, 2021.
(g)Totals do not include accrued interest receivable, which was $527 million and $514 million at March 31, 2022, and December 31, 2021, respectively. Accrued interest receivable is included in other assets on our Condensed Consolidated Balance Sheet. Billed interest on our credit card loans is included within finance receivables and loans, net.
Allowance for Credit Losses on Financing Receivables
The following tables present an analysis of the activity in the allowance for loan losses on finance receivables and loans for the three months ended March 31, 2022, and March 31, 2021.
Three months ended March 31, 2022 ($ in millions)
Consumer automotiveConsumer mortgageConsumer other (a)CommercialTotal
Allowance at January 1, 2022$2,769 $27 $221 $250 $3,267 
Charge-offs (b)(276)(1)(24)— (301)
Recoveries163 3 1 1 168 
Net charge-offs(113)2 (23)1 (133)
Provision for credit losses107 (3)59 4 167 
Other— — 1 (1)— 
Allowance at March 31, 2022$2,763 $26 $258 $254 $3,301 
(a)Excludes $7 million of finance receivables and loans at both March 31, 2022, and December 31, 2021, for which we have elected the fair value option and incorporate no allowance for loan losses.
(b)Refer to Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K for information regarding our charge-off policies.
Three months ended March 31, 2021 ($ in millions)
Consumer automotiveConsumer mortgageConsumer other (a)CommercialTotal
Allowance at January 1, 2021$2,902 $33 $73 $275 $3,283 
Charge-offs (b)(284)(2)(8)(14)(308)
Recoveries187 3 — — 190 
Net charge-offs(97)1 (8)(14)(118)
Provision for credit losses4 (7)3 (13)(13)
Other— (1)1 — — 
Allowance at March 31, 2021$2,809 $26 $69 $248 $3,152 
(a)Excludes $8 million of finance receivables and loans at both March 31, 2021, and December 31, 2020, for which we have elected the fair value option and incorporate no allowance for loan losses.
(b)Refer to Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K for information regarding our charge-off policies.
Schedule of Sales of Financing Receivables and Loans
The following table presents information about significant sales of finance receivables and loans and transfers of finance receivables and loans from held-for-investment to held-for-sale based on net carrying value.
Three months ended March 31,
($ in millions)20222021
Consumer mortgage$— $329 
Total sales and transfers$— $329 
Schedule of Purchases of Financing Receivables and Loans
The following table presents information about significant purchases of finance receivables and loans based on unpaid principal balance at the time of purchase.
Three months ended March 31,
($ in millions)20222021
Consumer automotive$493 $577 
Consumer mortgage825 188 
Total purchases of finance receivables and loans$1,318 $765 
Schedule of Financing Receivables, Nonaccrual Status
The following tables present the amortized cost of our finance receivables and loans on nonaccrual status. All consumer or commercial finance receivables and loans that were 90 days or more past due were on nonaccrual status as of March 31, 2022, and December 31, 2021.
March 31, 2022
($ in millions)Nonaccrual status at Jan. 1, 2022Nonaccrual statusNonaccrual with no allowance (a)
Consumer automotive$1,078 $1,072 $422 
Consumer mortgage
Mortgage Finance59 51 41 
Mortgage — Legacy26 24 23 
Total consumer mortgage85 75 64 
Consumer other
Personal Lending5 6 — 
Credit Card11 14 — 
Total consumer other16 20 — 
Total consumer1,179 1,167 486 
Commercial
Commercial and industrial
Automotive33 3 2 
Other221 217 47 
Commercial real estate3 1 1 
Total commercial257 221 50 
Total finance receivables and loans$1,436 $1,388 $536 
(a)Represents a component of nonaccrual status at end of period.
December 31, 2021
($ in millions)Nonaccrual status at Jan. 1, 2021Nonaccrual statusNonaccrual with no allowance (a)
Consumer automotive$1,256 $1,078 $423 
Consumer mortgage
Mortgage Finance67 59 39 
Mortgage — Legacy35 26 23 
Total consumer mortgage102 85 62 
Consumer other
Personal Lending3 5 — 
Credit Card— 11 — 
Total consumer other3 16 — 
Total consumer1,361 1,179 485 
Commercial
Commercial and industrial
Automotive40 33 32 
Other116 221 48 
Commercial real estate5 3 3 
Total commercial161 257 83 
Total finance receivables and loans$1,522 $1,436 $568 
(a)Represents a component of nonaccrual status at end of period.
Troubled Debt Restructurings on Financing Receivables
The following table presents information related to finance receivables and loans recorded at amortized cost modified in connection with a TDR during the period.
20222021
Three months ended March 31, ($ in millions)
Number of loansPre-modification amortized cost basisPost-modification amortized cost basisNumber of loansPre-modification amortized cost basisPost-modification amortized cost basis
Consumer automotive13,451 $231 $227 25,590 $472 $466 
Consumer mortgage
Mortgage Finance6 5 5 5 4 4 
Mortgage — Legacy4 1 1 1 — — 
Total consumer mortgage10 6 6 6 4 4 
Consumer other
Credit Card351 1 1 — — — 
Total consumer other351 1 1 — — — 
Total consumer13,812 238 234 25,596 476 470 
Commercial
Commercial and industrial
Other1 34 34 1 33 33 
Total commercial1 34 34 1 33 33 
Total finance receivables and loans13,813 $272 $268 25,597 $509 $503 
Finance Receivables and Loans Redefaulted During the Period
The following table presents information about finance receivables and loans recorded at amortized cost that have redefaulted during the reporting period and were within 12 months or less of being modified as a TDR. Redefault is when finance receivables and loans meet the requirements for evaluation under our charge-off policy (refer to Note 1 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K for additional information) except for commercial finance receivables and loans, where redefault is defined as 90 days past due.
20222021
Three months ended March 31, ($ in millions)
Number of loansAmortized costCharge-off amountNumber of loansAmortized costCharge-off amount
Consumer automotive2,111 $31 $13 2,814 $33 $20 
Consumer mortgage
Mortgage Finance22—— — — 
Mortgage — Legacy———2——
Total consumer mortgage2 2 — 2— — 
Total consumer finance receivables and loans2,113 $33 $13 2,816 $33 $20 
Consumer  
Financing Receivable, Credit Quality Indicator [Line Items]  
Financing Receivable Credit Quality Indicators
The following tables present the amortized cost basis of our consumer finance receivables and loans by credit quality indicator based on delinquency status and origination year.
Origination yearRevolving loans converted to term
March 31, 2022 ($ in millions)
202220212020201920182017 and priorRevolving loansTotal
Consumer automotive
Current$10,120 $31,561 $15,171 $10,051 $5,678 $4,186 $— $— $76,767 
30–59 days past due17 512 314 272 184 179 — — 1,478 
60–89 days past due1 153 105 86 55 52 — — 452 
90 or more days past due— 59 42 42 31 40 — — 214 
Total consumer automotive10,138 32,285 15,632 10,451 5,948 4,457 — — 78,911 
Consumer mortgage
Mortgage Finance
Current895 10,614 2,079 895 655 3,132 — — 18,270 
30–59 days past due3 23 3 4 6 15 — — 54 
60–89 days past due— 1 1 1 2 2 — — 7 
90 or more days past due— 3 — 5 11 22 — — 41 
Total Mortgage Finance898 10,641 2,083 905 674 3,171 — — 18,372 
Mortgage — Legacy
Current— — — — — 75 221 20 316 
30–59 days past due— — — — — 2 1 1 4 
60–89 days past due— — — — — 1 — — 1 
90 or more days past due— — — — — 12 6 2 20 
Total Mortgage — Legacy— — — — — 90 228 23 341 
Total consumer mortgage898 10,641 2,083 905 674 3,261 228 23 18,713 
Consumer other
Personal Lending
Current375 681 104 15 3 1 — — 1,179 
30–59 days past due2 7 1 — — — — — 10 
60–89 days past due— 6 1 — — — — — 7 
90 or more days past due— 5 1 — — — — — 6 
Total Personal Lending (a)377 699 107 15 3 1 — — 1,202 
Credit Card
Current— — — — — — 1,008 — 1,008 
30–59 days past due— — — — — — 8 — 8 
60–89 days past due— — — — — — 6 — 6 
90 or more days past due— — — — — — 14 — 14 
Total Credit Card— — — — — — 1,036 — 1,036 
Total consumer other377 699 107 15 3 1 1,036 — 2,238 
Total consumer$11,413 $43,625 $17,822 $11,371 $6,625 $7,719 $1,264 $23 $99,862 
(a)Excludes $7 million of finance receivables at March 31, 2022, for which we have elected the fair value option.
Origination yearRevolving loans converted to term
December 31, 2021 ($ in millions)
202120202019201820172016 and priorRevolving loansTotal
Consumer automotive
Current$35,222 $17,218 $11,512 $6,692 $3,403 $1,911 $— $— $75,958 
30–59 days past due424 353 334 226 139 101 — — 1,577 
60–89 days past due115 114 108 70 41 28 — — 476 
90 or more days past due41 51 56 40 27 26 — — 241 
Total consumer automotive35,802 17,736 12,010 7,028 3,610 2,066 — — 78,252 
Consumer mortgage
Mortgage Finance
Current10,169 2,212 977 744 1,041 2,363 — — 17,506 
30–59 days past due50 3 3 7 2 12 — — 77 
60–89 days past due8 — 1 — — 5 — — 14 
90 or more days past due— — 5 16 7 19 — — 47 
Total Mortgage Finance10,227 2,215 986 767 1,050 2,399 — — 17,644 
Mortgage — Legacy
Current— — — — — 79 238 23 340 
30–59 days past due— — — — — 2 1 — 3 
60–89 days past due— — — — — 1 — 1 2 
90 or more days past due— — — — — 15 5 3 23 
Total Mortgage — Legacy— — — — — 97 244 27 368 
Total consumer mortgage10,227 2,215 986 767 1,050 2,496 244 27 18,012 
Consumer other
Personal Lending
Current821 133 18 5 1 — — — 978 
30–59 days past due9 2 — — — — — — 11 
60–89 days past due6 1 1 — — — — — 8 
90 or more days past due4 1 — — — — — — 5 
Total Personal Lending (a)840 137 19 5 1 — — — 1,002 
Credit Card
Current— — — — — — 932 — 932 
30–59 days past due— — — — — — 6 — 6 
60–89 days past due— — — — — — 5 — 5 
90 or more days past due— — — — — — 10 — 10 
Total Credit Card— — — — — — 953 — 953 
Total consumer other840 137 19 5 1 — 953 — 1,955 
Total consumer$46,869 $20,088 $13,015 $7,800 $4,661 $4,562 $1,197 $27 $98,219 
(a)Excludes $7 million of finance receivables at December 31, 2021, for which we have elected the fair value option.
Commercial  
Financing Receivable, Credit Quality Indicator [Line Items]  
Financing Receivable Credit Quality Indicators The following tables present the amortized cost basis of our commercial finance receivables and loans by credit quality indicator based on risk rating and origination year.
Origination yearRevolving loans converted to term
March 31, 2022 ($ in millions)
202220212020201920182017 and priorRevolving loansTotal
Commercial and industrial
Automotive
Pass$70 $350 $163 $95 $45 $61 $12,121 $— $12,905 
Special mention— 2 1 5 12 42 469 — 531 
Substandard— — 1 1 1 — 58 — 61 
Total automotive70 352 165 101 58 103 12,648 — 13,497 
Other
Pass232 661 447 288 62 137 4,033 99 5,959 
Special mention— 15 169 96 44 133 111 20 588 
Substandard— — 22 94 — 166 55 21 358 
Doubtful— — — — — 82 7 3 92 
Total other232 676 638 478 106 518 4,206 143 6,997 
Commercial real estate
Pass302 1,285 1,027 781 523 919 8 9 4,854 
Special mention— 7 5 98 4 30 — — 144 
Substandard— — — — — 4 — — 4 
Total commercial real estate302 1,292 1,032 879 527 953 8 9 5,002 
Total commercial$604 $2,320 $1,835 $1,458 $691 $1,574 $16,862 $152 $25,496 
Origination yearRevolving loans converted to term
December 31, 2021 ($ in millions)
202120202019201820172016 and priorRevolving loansTotal
Commercial and industrial
Automotive
Pass$347 $190 $112 $49 $23 $56 $10,741 $— $11,518 
Special mention7 1 7 15 31 18 589 — 668 
Substandard— 1 — 1 — — 41 — 43 
Total automotive354 192 119 65 54 74 11,371 — 12,229 
Other
Pass739 448 374 86 99 68 4,032 83 5,929 
Special mention15 169 96 21 10 122 93 17 543 
Substandard— 22 95 — 140 83 13 23 376 
Doubtful— — — — — 26 — — 26 
Total other754 639 565 107 249 299 4,138 123 6,874 
Commercial real estate
Pass1,298 1,060 873 604 342 653 3 8 4,841 
Special mention13 5 29 7 18 19 — — 91 
Substandard— — — — — 7 — — 7 
Total commercial real estate1,311 1,065 902 611 360 679 3 8 4,939 
Total commercial$2,419 $1,896 $1,586 $783 $663 $1,052 $15,512 $131 $24,042 
Past Due Financing Receivables
The following table presents an analysis of our past-due commercial finance receivables and loans recorded at amortized cost basis.
($ in millions)30–59 days past due60–89 days past due90 days or more past dueTotal past dueCurrentTotal finance receivables and loans
March 31, 2022
Commercial
Commercial and industrial
Automotive$— $— $— $— $13,497 $13,497 
Other— — 1 1 6,996 6,997 
Commercial real estate— — — — 5,002 5,002 
Total commercial$— $— $1 $1 $25,495 $25,496 
December 31, 2021
Commercial
Commercial and industrial
Automotive$— $— $— $— $12,229 $12,229 
Other— — 1 1 6,873 6,874 
Commercial real estate— — — — 4,939 4,939 
Total commercial$— $— $1 $1 $24,041 $24,042 
v3.22.1
Leasing (Tables)
 3 Months Ended
Mar. 31, 2022
Leases [Abstract]  
Lessee, Operating Lease, Liability, Maturity
The following table presents future minimum rental payments we are required to make under operating leases that have commenced as of March 31, 2022, and that have noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$28 
202329 
202423 
202518 
202617 
2027 and thereafter28 
Total undiscounted cash flows143 
Difference between undiscounted cash flows and discounted cash flows(8)
Total lease liability$135 
Lease, Cost
The following table details the components of total net operating lease expense.
Three months ended March 31,
($ in millions)20222021
Operating lease expense$8 $12 
Variable lease expense1 2 
Total lease expense, net (a)$9 $14 
(a)Included in other operating expenses in our Condensed Consolidated Statement of Comprehensive Income.
Schedule of Investment in Operating Lease
The following table details our investment in operating leases.
($ in millions)March 31, 2022December 31, 2021
Vehicles$12,316 $12,384 
Accumulated depreciation(1,586)(1,522)
Investment in operating leases, net$10,730 $10,862 
Lessor, Operating Lease, Payments to be Received, Maturity
The following table presents future minimum rental payments we have the right to receive under operating leases with noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$1,201 
20231,247 
2024623 
2025169 
202613 
Total lease payments from operating leases$3,253 
Depreciation Expense on Operating Lease Assets The following table summarizes the components of depreciation expense on operating lease assets.
Three months ended March 31,
($ in millions)20222021
Depreciation expense on operating lease assets (excluding remarketing gains) (a)$267 $227 
Remarketing gains, net(50)(64)
Net depreciation expense on operating lease assets$217 $163 
(a)Includes variable lease payments related to excess mileage and excessive wear and tear on vehicles of $2 million during the three months ended March 31, 2022, and $5 million during the three months ended March 31, 2021.
Finance Lease, Liability, Maturity
The following table presents future minimum rental payments we have the right to receive under finance leases with noncancelable lease terms expiring after March 31, 2022.
($ in millions)
2022$121 
2023140 
2024114 
202565 
202638 
2027 and thereafter17 
Total undiscounted cash flows495 
Difference between undiscounted cash flows and discounted cash flows(447)
Present value of lease payments recorded as lease receivable$48 
v3.22.1
Securitizations and Variable Interest Entities (Tables)
 3 Months Ended
Mar. 31, 2022
Securitizations And Variable Interest Entities [Abstract]  
Schedule of Variable Interest Entities
The following table presents our involvement in consolidated and nonconsolidated VIEs in which we hold variable interests. We have excluded certain transactions with nonconsolidated entities from the balances presented in the table below, where our only continuing involvement relates to financial interests obtained through the ordinary course of business, primarily from lending and investing arrangements. For additional detail related to the assets and liabilities of consolidated variable interest entities refer to the Condensed Consolidated Balance Sheet.
($ in millions)Carrying value of total assetsCarrying value of total liabilitiesAssets sold to nonconsolidated VIEs (a)Maximum exposure to loss in nonconsolidated VIEs
March 31, 2022
On-balance sheet variable interest entities
Consumer automotive$19,016 (b)$917 (c)$— $— 
Off-balance sheet variable interest entities
Commercial other1,869 (d)716 (e)— 2,423 (f)
Consumer other (g)— — 13 13 
Total$20,885 $1,633 $13 $2,436 
December 31, 2021
On-balance sheet variable interest entities
Consumer automotive$18,158 (b)$1,162 (c)$— $— 
Consumer other (g)318 300 — — 
Off-balance sheet variable interest entities
Commercial other1,814 (d)726 (e)— 2,416 (f)
Total$20,290 $2,188 $— $2,416 
(a)Asset values represent the current unpaid principal balance of outstanding credit card finance receivables and loans within the VIEs.
(b)Includes $10.8 billion and $11.0 billion of assets that were not encumbered by VIE beneficial interests held by third parties at March 31, 2022, and December 31, 2021, respectively. Ally or consolidated affiliates hold the interests in these assets.
(c)Includes $118 million and $124 million of liabilities that were not obligations to third-party beneficial interest holders at March 31, 2022, and December 31, 2021, respectively.
(d)Amounts are classified as other assets except for $1 million and $8 million classified as equity securities at March 31, 2022, and December 31, 2021, respectively.
(e)Amounts are classified as accrued expenses and other liabilities.
(f)For certain nonconsolidated affordable housing entities, maximum exposure to loss represents the yield we guaranteed investors through long-term guarantee contracts. The amount disclosed is based on the unlikely event that the yield delivered to investors in the form of low-income tax housing credits is recaptured. For nonconsolidated equity investments, maximum exposure to loss represents our outstanding investment, additional committed capital, and low-income housing tax credits subject to recapture. The amount disclosed is based on the unlikely event that our committed capital is funded, our investments become worthless, and the tax credits previously delivered to us are recaptured. This required disclosure is not an indication of our expected loss.
(g)Represents balances from our credit card business.
Schedule of Cash Flows with Nonconsolidated Special-Purpose Entities
The following table summarizes cash flows received and paid related to SPEs and asset-backed financings where the transfer is accounted for as a sale and we have a continuing involvement with the transferred consumer automotive and credit card assets (for example, servicing) that were outstanding during the three months ended March 31, 2022, and 2021. Additionally, this table contains information regarding cash flows received from and paid to nonconsolidated SPEs that existed during each period.
Three months ended March 31,
($ in millions)20222021
Consumer other (a)
Cash proceeds from transfers completed during the period$12 $— 
Servicing fees1 — 
Total$13 $— 
(a)Represents activity from our credit card business.
Schedule of Quantitative Information and Net Credit Losses about Securitized and Other Financial Assets Managed Together
The following table presents quantitative information about delinquencies and net credit losses for off-balance sheet whole-loan sales where we have continuing involvement.
Total amountAmount 60 days or more past due
($ in millions)March 31, 2022December 31, 2021March 31, 2022December 31, 2021
Whole-loan sales (a)
Consumer other$13 $4 $— $— 
Total$13 $4 $— $— 
(a)Whole-loan sales are not part of a securitization transaction, but represent credit card pools of loans sold to third-party investors.
v3.22.1
Other Assets (Tables)
 3 Months Ended
Mar. 31, 2022
Other Assets [Abstract]  
Schedule of Other Assets
The components of other assets were as follows.
($ in millions)March 31, 2022December 31, 2021
Property and equipment at cost (a)$2,178 $2,139 
Accumulated depreciation(980)(955)
Net property and equipment1,198 1,184 
Investment in qualified affordable housing projects1,373 1,378 
Nonmarketable equity investments1,116 998 
Goodwill822 822 
Net deferred tax assets625 254 
Accrued interest, fees, and rent receivables609 600 
Restricted cash held for securitization trusts (b)583 516 
Equity-method investments (c)544 472 
Other accounts receivable293 127 
Net intangible assets121 129 
Operating lease right-of-use assets111 148 
Restricted cash and cash equivalents (d)100 92 
Finance lease right-of-use assets (e)44 — 
Other assets1,418 1,337 
Total other assets$8,957 $8,057 
(a)Balance includes a new corporate facility purchased during the year ended December 31, 2021. Refer to Note 9 for additional information.
(b)Includes restricted cash collected from customer payments on securitized receivables, which are distributed by us to investors as payments on the related secured debt, and cash reserve deposits utilized as a form of credit enhancement for various securitization transactions.
(c)Primarily relates to investments made in connection with our CRA program.
(d)Primarily represents a number of arrangements with third parties where certain restrictions are placed on balances we hold due to collateral agreements associated with operational processes with a third-party bank, or letter of credit arrangements and corresponding collateral requirements.
(e)For additional information on finance lease right-of-use assets, refer to Note 9.
Summary of Equity Securities without Readily Determinable Fair Value
The total carrying value of the nonmarketable equity investments held at March 31, 2022, and December 31, 2021, including cumulative unrealized gains and losses was as follows.
($ in millions)March 31, 2022December 31, 2021
FHLB stock$407 $289 
FRB stock449 449 
Equity securities without a readily determinable fair value
Cost basis90 89 
Adjustments
Upward adjustments183 183 
Downward adjustments (including impairment)(13)(12)
Carrying amount, equity securities without a readily determinable fair value260 260 
Nonmarketable equity investments$1,116 $998 
During the three months ended March 31, 2022, and 2021, unrealized gains and losses included in the carrying value of the nonmarketable equity investments still held as of March 31, 2022, and 2021, were as follows.
Three months ended March 31,
($ in millions)20222021
Upward adjustments$1 $2 
Downward adjustments (including impairment) (a)$(2)$(1)
(a)No impairment on FHLB and FRB stock was recognized during both the three months ended March 31, 2022, and 2021.
Schedule of Goodwill
The carrying balance of goodwill by reportable operating segment was as follows.
($ in millions)Automotive Finance operationsInsurance operationsCorporate and Other (a)Total
Goodwill at December 31, 2020$20 $27 $296 $343 
Goodwill acquired— — 479 479 
Goodwill at December 31, 2021$20 $27 $775 $822 
Goodwill acquired— — — — 
Goodwill at March 31, 2022$20 $27 $775 $822 
(a)Includes $479 million of goodwill associated with Ally Credit Card at both March 31, 2022, and December 31, 2021, and $153 million of goodwill associated with Ally Lending at both March 31, 2022, and December 31, 2021, and $143 million of goodwill associated with Ally Invest at both March 31, 2022, and December 31, 2021.
Schedule of Finite-Lived Intangible Assets
The net carrying value of intangible assets by class was as follows.
March 31, 2022 (a)December 31, 2021
($ in millions)Gross intangible assetsAccumulated amortizationNet carrying valueGross intangible assetsAccumulated amortizationNet carrying value
Technology$83 $(12)$71 $83 $(9)$74 
Customer lists58 (44)14 58 (42)16 
Purchased credit card relationships25 (1)24 25 — 25 
Trademarks2 — 2 2 — 2 
Other39 (29)10 39 (27)12 
Total intangible assets$207 $(86)$121 $207 $(78)$129 
(a)We expect to recognize amortization expense of $23 million during the remainder of 2022, $25 million in 2023, $18 million in 2024, $14 million in 2025, and $14 million in 2026.
v3.22.1
Deposit Liabilities (Tables)
 3 Months Ended
Mar. 31, 2022
Deposits [Abstract]  
Schedule of Deposit Liabilities
Deposit liabilities consisted of the following.
($ in millions)March 31, 2022December 31, 2021
Noninterest-bearing deposits$175 $150 
Interest-bearing deposits
Savings, money market, and checking accounts106,411 102,455 
Certificates of deposit35,889 38,953 
Total deposit liabilities$142,475 $141,558 
v3.22.1
Debt (Tables)
 3 Months Ended
Mar. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Short-term Debt
The following table presents the composition of our short-term borrowings portfolio.
March 31, 2022December 31, 2021
($ in millions)
Unsecured
Secured (a)
Total
Unsecured
Secured (a)
Total
Federal Home Loan Bank
$— $2,950 $2,950 $— $— $— 
Other (b)— 1,000 1,000 — — — 
Total short-term borrowings$— $3,950 $3,950 $— $— $— 
(a)Refer to the section below titled Long-Term Debt for further details on assets restricted as collateral for payment of the related debt.
(b)Represents a loan participation agreement that did not meet the requirements for derecognition and was therefore accounted for as a secured borrowing.
Long-term Debt
The following tables present the composition of our long-term debt portfolio.
March 31, 2022December 31, 2021
($ in millions)
Unsecured
Secured
Total
Unsecured
Secured
Total
Long-term debt (a)
Due within one year
$384 $3,789 $4,173 $1,028 $4,841 $5,869 
Due after one year
8,421 3,291 11,712 8,382 2,778 11,160 
Total long-term debt (b)$8,805 $7,080 $15,885 $9,410 $7,619 $17,029 
(a)Includes basis adjustments related to the application of hedge accounting. Refer to Note 19 for additional information.
(b)Includes advances, net of hedge basis adjustments, from the FHLB of Pittsburgh of $6.3 billion at both March 31, 2022, and December 31, 2021.
Schedule of Maturities of Long-term Debt
The following table presents the scheduled remaining maturity of long-term debt at March 31, 2022, assuming no early redemptions will occur. The amounts below include adjustments to the carrying value resulting from the application of hedge accounting. The actual payment of secured debt may vary based on the payment activity of the related pledged assets.
($ in millions)202220232024202520262027 and thereafter
Total
Unsecured
Long-term debt
$433 $2,085 $1,481 $2,377 $27 $3,312 $9,715 
Original issue discount
(40)(58)(65)(71)(79)(597)(910)
Total unsecured
393 2,027 1,416 2,306 (52)2,715 8,805 
Secured
Long-term debt
3,437 1,602 1,748 275 8 10 7,080 
Total long-term debt
$3,830 $3,629 $3,164 $2,581 $(44)$2,725 $15,885 
Pledged Assets for the Payment of the Related Secured Borrowings and Repurchase Agreements
The following summarizes assets restricted as collateral for the payment of the related debt obligation.
March 31, 2022December 31, 2021
($ in millions)
Total (a)
Ally Bank
Total (a)
Ally Bank
Consumer mortgage finance receivables$18,655 $18,655 $17,941 $17,941 
Consumer automotive finance receivables
10,015 10,015 9,122 9,122 
Commercial finance receivables (b)1,010 1,010 10 10 
Credit card receivables— — 347 347 
Total assets restricted as collateral (c) (d)$29,680 $29,680 $27,420 $27,420 
Secured debt (e)$11,030 $11,030 $7,619 $7,619 
(a)Ally Bank is a component of the total column.
(b)Includes pledged commercial finance receivables related to a participation agreement at March 31, 2022.
(c)Ally Bank has an advance agreement with the FHLB, and had assets pledged to secure borrowings that were restricted as collateral to the FHLB totaling $18.7 billion and $18.0 billion at March 31, 2022, and December 31, 2021, respectively. These assets were composed primarily of consumer mortgage finance receivables and loans. Ally Bank has access to the FRB Discount Window and had assets pledged and restricted as collateral to the FRB totaling $2.4 billion at both March 31, 2022, and December 31, 2021. These assets were composed of consumer automotive finance receivables and loans. Availability under these programs is only for the operations of Ally Bank and cannot be used to fund the operations or liabilities of Ally or its other subsidiaries.
(d)Excludes restricted cash and cash reserves for securitization trusts recorded within other assets on the Condensed Consolidated Balance Sheet. Refer to Note 11 for additional information.
(e)Includes $4.0 billion of short-term borrowings at March 31, 2022.
v3.22.1
Accrued Expenses and Other Liabilities (Tables)
 3 Months Ended
Mar. 31, 2022
Accounts Payable and Accrued Liabilities [Abstract]  
Schedule of Accrued Expenses and Other Liabilities
The components of accrued expenses and other liabilities were as follows.
($ in millions)March 31, 2022December 31, 2021
Accounts payable$774 $584 
Unfunded commitments for investment in qualified affordable housing projects714 724 
Employee compensation and benefits302 512 
Deferred revenue172 176 
Operating lease liabilities135 175 
Reserves for insurance losses and loss adjustment expenses123 122 
Finance lease liabilities (a)42 — 
Other liabilities510 460 
Total accrued expenses and other liabilities$2,772 $2,753 
(a)For additional information on our finance lease liabilities, refer to Note 9.
v3.22.1
Preferred Stock (Tables)
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Schedule of Preferred Stock
The following table summarizes information about our preferred stock.
March 31, 2022
Series B preferred stock (a)
Issuance dateApril 22, 2021
Carrying value ($ in millions)
$1,335
Par value (per share)
$0.01
Liquidation preference (per share)
$1,000
Number of shares authorized1,350,000
Number of shares issued and outstanding1,350,000
Dividend/coupon
Prior to May 15, 20264.700%
On and after May 15, 2026
Five Year Treasury + 3.868%
Series C preferred stock (a)
Issuance dateJune 2, 2021
Carrying value ($ in millions)
$989
Par value (per share)
$0.01
Liquidation preference (per share)
$1,000
Number of shares authorized1,000,000
Number of shares issued and outstanding1,000,000
Dividend/coupon
Prior to May 15, 20284.700%
On and after May 15, 2028
Seven Year Treasury + 3.481%
(a)We may, at our option, redeem the Series B and Series C shares on any dividend payment date on or after May 15, 2026, or May 15, 2028, respectively, or at any time within 90 days following a regulatory event that precludes the instruments from being included in additional Tier 1 capital.
v3.22.1
Accumulated Other Comprehensive Loss (Tables)
 3 Months Ended
Mar. 31, 2022
Equity [Abstract]  
Schedule of Accumulated Other Comprehensive Income
The following table presents changes, net of tax, in each component of accumulated other comprehensive loss.
($ in millions)
Unrealized gains (losses) on investment securities (a)Translation adjustments and net investment hedges (b)Cash flow hedges (b)
Defined benefit pension plans
Accumulated other comprehensive income (loss)
Balance at January 1, 2021$640 $19 $82 $(110)$631 
Net change(587)1 (17)(1)(604)
Balance at March 31, 2021$53 $20 $65 $(111)$27 
Balance at January 1, 2022$(95)$19 $35 $(117)$(158)
Net change(1,631)1 (5)2 (1,633)
Balance at March 31, 2022 (c)$(1,726)$20 $30 $(115)$(1,791)
(a)Represents the after-tax difference between the fair value and amortized cost of our available-for-sale securities portfolio.
(b)For additional information on derivative instruments and hedging activities, refer to Note 19.
(c)The valuation of our defined benefit plan reflects our current intention to terminate our qualified defined benefit plan in the future. Upon termination and settlement, the unrealized loss and associated tax effects related to our qualified defined benefit pension plan recorded in accumulated other comprehensive income would be recognized in net income from continuing operations of our Condensed Consolidated Statement of Comprehensive Income.
Reclassification Out of Accumulated Other Comprehensive Income
The following tables present the before- and after-tax changes in each component of accumulated other comprehensive loss.
Three months ended March 31, 2022 ($ in millions)
Before taxTax effectAfter tax
Investment securities
Net unrealized losses arising during the period$(2,120)$503 $(1,617)
Less: Net realized gains reclassified to income from continuing operations18 (a)(4)(b)14 
Net change(2,138)507 (1,631)
Translation adjustments
Net unrealized gains arising during the period3 — 3 
Net investment hedges (c)
Net unrealized losses arising during the period(3)1 (2)
Cash flow hedges (c)
Less: Net realized gains reclassified to income from continuing operations6 (d)(1)(b)5 
Defined benefit pension plans
Net unrealized gains arising during the period2 — 2 
Other comprehensive loss$(2,142)$509 $(1,633)
(a)Includes gains reclassified to other gain on investments, net in our Condensed Consolidated Statement of Comprehensive Income.
(b)Includes amounts reclassified to income tax expense from continuing operations in our Condensed Consolidated Statement of Comprehensive Income.
(c)For additional information on derivative instruments and hedging activities, refer to Note 19.
(d)Includes gains reclassified to interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income.
Three months ended March 31, 2021 ($ in millions)
Before taxTax effectAfter tax
Investment securities
Net unrealized losses arising during the period$(736)$174 $(562)
Less: Net realized gains reclassified to income from continuing operations32(a)(7)(b)25
Net change(768)181 (587)
Translation adjustments
Net unrealized gains arising during the period3 (1)2 
Net investment hedges (c)
Net unrealized losses arising during the period(2)1 (1)
Cash flow hedges (c)
Less: Net realized gains reclassified to income from continuing operations21 (d)(4)(b)17 
Defined benefit pension plans
Net unrealized losses arising during the period(2)1 (1)
Other comprehensive loss$(790)$186 $(604)
(a)Includes gains reclassified to other gain on investments, net in our Condensed Consolidated Statement of Comprehensive Income.
(b)Includes amounts reclassified to income tax expense from continuing operations in our Condensed Consolidated Statement of Comprehensive Income.
(c)For additional information on derivative instruments and hedging activities, refer to Note 19.
(d)Includes gains reclassified to interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income.
v3.22.1
Earnings per Common Share (Tables)
 3 Months Ended
Mar. 31, 2022
Earnings Per Share [Abstract]  
Schedule of Earnings Per Share, Basic and Diluted
The following table presents the calculation of basic and diluted earnings per common share.
Three months ended March 31,
($ in millions, except per share data; shares in thousands) (a)
20222021
Net income from continuing operations$655 $796 
Preferred stock dividends — Series B(16)— 
Preferred stock dividends — Series C(12)— 
Net income from continuing operations attributable to common stockholders$627 $796 
Net income attributable to common stockholders$627 $796 
Basic weighted-average common shares outstanding (b)335,678 375,229 
Diluted weighted-average common shares outstanding (b)337,812 377,529 
Basic earnings per common share
Net income from continuing operations$1.87 $2.12 
Net income$1.87 $2.12 
Diluted earnings per common share
Net income from continuing operations$1.86 $2.11 
Net income$1.86 $2.11 
(a)Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers.
(b)Includes shares related to share-based compensation that vested but were not yet issued.
v3.22.1
Regulatory Capital and Other Regulatory Matters (Tables)
 3 Months Ended
Mar. 31, 2022
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]  
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations
The following table summarizes our capital ratios under U.S. Basel III.
March 31, 2022December 31, 2021Required minimum (a)Well-capitalized minimum
($ in millions)AmountRatioAmountRatio
Capital ratios
Common Equity Tier 1 (to risk-weighted assets)
Ally Financial Inc.$14,849 9.97 %$15,143 10.34 %4.50 %(b)
Ally Bank17,220 12.09 17,253 12.39 4.50 6.50 %
Tier 1 (to risk-weighted assets)
Ally Financial Inc.$17,124 11.49 %$17,403 11.89 %6.00 %6.00 %
Ally Bank17,220 12.09 17,253 12.39 6.00 8.00 
Total (to risk-weighted assets)
Ally Financial Inc.$19,564 13.13 %$19,724 13.47 %8.00 %10.00 %
Ally Bank19,006 13.34 18,995 13.64 8.00 10.00 
Tier 1 leverage (to adjusted quarterly average assets) (c)
Ally Financial Inc.$17,124 9.36 %$17,403 9.67 %4.00 %(b)
Ally Bank17,220 9.93 17,253 10.12 4.00 5.00 %
(a)In addition to the minimum risk-based capital requirements for the Common Equity Tier 1 capital, Tier 1 capital, and total capital ratios, Ally was required to maintain a minimum capital conservation buffer of 3.5% at both March 31, 2022, and December 31, 2021, and Ally Bank was required to maintain a minimum capital conservation buffer of 2.5% at both March 31, 2022, and December 31, 2021.
(b)Currently, there is no ratio component for determining whether a BHC is “well-capitalized.”
(c)Federal regulatory reporting guidelines require the calculation of adjusted quarterly average assets using a daily average methodology.
Schedule of Common Share Distribution Activity
The following table presents information related to our common stock and distributions to our common stockholders.
Common stock repurchased during period (a) (b)Number of common shares outstandingCash dividends declared per common share (c)
($ in millions, except per share data; shares in thousands)Approximate dollar valueNumber of sharesBeginning of periodEnd of period
2021
First quarter$219 5,276 374,674 371,805 $0.19 
Second quarter502 9,641 371,805 362,639 0.19 
Third quarter679 13,055 362,639 349,599 0.25 
Fourth quarter594 12,046 349,599 337,941 0.25 
2022
First quarter$584 12,548 337,941 327,306 $0.30 
(a)Includes shares of common stock withheld to cover income taxes owed by participants in our share-based incentive plans.
(b)Our aggregate common-stock dividends and share repurchases in the first and second quarters of 2021 were limited by actions taken by the FRB to address the economic uncertainty from the COVID-19 pandemic. Refer to Note 20 to the Consolidated Financial Statements in our 2021 Annual Report on Form 10-K for further details about these actions.
(c)On April 13, 2022, our Board declared a quarterly cash dividend of $0.30 per share on all common stock, payable on May 16, 2022, to stockholders of record at the close of business on May 2, 2022. Refer to Note 25 for further information regarding this common-stock dividend.
v3.22.1
Derivative Instruments and Hedging Activities (Tables)
 3 Months Ended
Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of Derivative Instruments in Statement of Financial Position
The following table summarizes the amounts of derivative instruments reported on our Condensed Consolidated Balance Sheet. The amounts are presented on a gross basis, are segregated by derivatives that are designated and qualifying as hedging instruments or those that are not, and are further segregated by type of contract within those two categories.
Derivative contracts in a receivable and payable position exclude open trade equity on derivatives cleared through central clearing counterparties. Any associated margin exchanged with our central clearing counterparties are treated as settlements of the derivative exposure, rather than collateral. Such payments are recognized as settlements of the derivatives contracts in a receivable and payable position on our Condensed Consolidated Balance Sheet.
Notional amounts are reference amounts from which contractual obligations are derived and are not recorded on the balance sheet. In our view, derivative notional is not an accurate measure of our derivative exposure when viewed in isolation from other factors, such as market rate fluctuations and counterparty credit risk.
March 31, 2022December 31, 2021
Derivative contracts in a
Notional amount
Derivative contracts in a
Notional amount
($ in millions)
receivable position
payable position
receivable position
payable position
Derivatives designated as accounting hedges
Interest rate contracts
Swaps
$— $— $20,043 $— $— $17,039 
Foreign exchange contracts
Forwards
— 3 160 — 2 171 
Total derivatives designated as accounting hedges
— 3 20,203 — 2 17,210 
Derivatives not designated as accounting hedges
Interest rate contracts
Futures and forwards
2 — 328 1 — 223 
Written options
3 7 389 5 2 580 
Total interest rate risk
5 7 717 6 2 803 
Foreign exchange contracts
Futures and forwards— 2 439 — 1 154 
Total foreign exchange risk— 2 439 — 1 154 
Credit contracts (a)
Other credit derivatives— 57 n/a— 56 n/a
Total credit risk— 57 n/a— 56 n/a
Equity contracts
Written options
— 4 2 — 1 2 
Purchased options
3 — — 1 — — 
Total equity risk
3 4 2 1 1 2 
Total derivatives not designated as accounting hedges
8 70 1,158 7 60 959 
Total derivatives
$8 $73 $21,361 $7 $62 $18,169 
n/a = not applicable
(a)The maximum potential amount of undiscounted future payments that could be required under these credit derivatives was $116 million and $119 million as of March 31, 2022, and December 31, 2021, respectively.
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location
The following table presents amounts recorded on our Condensed Consolidated Balance Sheet related to cumulative basis adjustments for fair value hedges.
($ in millions)Carrying amount of the hedged itemsCumulative amount of fair value hedging adjustment included in the carrying amount of the hedged items
TotalDiscontinued (a)
March 31, 2022December 31, 2021March 31, 2022December 31, 2021March 31, 2022December 31, 2021
Assets
Available-for-sale securities (b)$5,405 $5,119 $(59)$(14)$(68)$(30)
Finance receivables and loans, net (c)43,485 44,098 (350)(37)36 46 
Liabilities
Long-term debt$7,190 $7,213 $112 $110 $110 $110 
(a)Represents the fair value hedging adjustment on qualifying hedges for which the hedging relationship was discontinued. This represents a subset of the amounts reported in the total hedging adjustment.
(b)These amounts include amortized cost basis of closed portfolios of available-for-sale securities used to designate hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. At March 31, 2022, and December 31, 2021, the amortized cost basis of the closed portfolios used in these hedging relationships was $4.1 billion and $3.9 billion, respectively. At March 31, 2022, and December 31, 2021, the total cumulative basis adjustments associated with these hedging relationships was a $44 million liability and a $6 million liability, respectively, of which the portion related to discontinued hedging relationships was a $54 million liability and a $20 million liability, respectively. At March 31, 2022, and December 31, 2021, the notional amounts of the designated hedged items were $2.0 billion and $1.2 billion, respectively, with cumulative basis adjustments of a $10 million asset and a $14 million asset, respectively, which would be allocated across the entire remaining closed pool upon termination or maturity of the hedge relationship. Refer to Note 7 for a reconciliation of the amortized cost and fair value of available-for-sale securities.
(c)These amounts include the amortized cost basis of closed portfolios of loan receivables used to designate hedging relationships in which the hedged item is the last layer expected to be remaining at the end of the hedging relationship. At March 31, 2022, and December 31, 2021, the amortized cost basis of the closed portfolios used in these hedging relationships was $43.5 billion and $44.1 billion, respectively. At March 31, 2022, and December 31, 2021, the total cumulative basis adjustments associated with these hedging relationships was a $350 million liability and a $37 million liability, respectively, of which the portion related to discontinued hedging relationships was a $36 million asset and a $46 million asset, respectively. At March 31, 2022, and December 31, 2021, the notional amounts of the designated hedged items were $17.6 billion and $15.6 billion, respectively, with cumulative basis adjustments of a $386 million liability and an $82 million liability, respectively, which would be allocated across the entire remaining closed pool upon termination or maturity of the hedge relationship.
Schedule of Derivative Instruments Not Designated as Accounting Hedge
The following table summarizes the location and amounts of gains and losses on derivative instruments not designated as accounting hedges reported in our Condensed Consolidated Statement of Comprehensive Income.
Three months ended March 31,
($ in millions)20222021
(Loss) gain recognized in earnings
Interest rate contracts
Loss on mortgage and automotive loans, net$(2)$(7)
Other income, net of losses
3 — 
Total interest rate contracts
1 (7)
Foreign exchange contracts
Other operating expenses(3)(2)
Total foreign exchange contracts
(3)(2)
Credit contracts
Other income, net of losses(1)(8)
Total credit contracts(1)(8)
Total loss recognized in earnings$(3)$(17)
Schedule of Location and Amounts of Gains and Losses on Derivative Instruments
The following table summarizes the location and amounts of gains and losses on derivative instruments designated as qualifying fair value and cash flow hedges reported in our Condensed Consolidated Statement of Comprehensive Income.
Interest and fees on finance receivables and loansInterest and dividends on investment securities and other earning assetsInterest on depositsInterest on long-term debt
Three months ended March 31, ($ in millions)
20222021202220212022202120222021
(Loss) gain on fair value hedging relationships
Interest rate contracts
Hedged fixed-rate unsecured debt$— $— $— $— $— $— $(2)$139 
Derivatives designated as hedging instruments on fixed-rate unsecured debt— — — — — — 2 (139)
Hedged available-for-sale securities— — (42)(13)— — — — 
Derivatives designated as hedging instruments on available-for-sale securities— — 42 13 — — — — 
Hedged fixed-rate consumer automotive loans(304)(39)— — — — — — 
Derivatives designated as hedging instruments on fixed-rate consumer automotive loans304 39 — — — — — — 
Total gain on fair value hedging relationships
— — — — — — — — 
(Loss) gain on cash flow hedging relationships
Interest rate contracts
Hedged deposit liabilities
Reclassified from accumulated other comprehensive income into income— — — — — (1)— — 
Hedged variable-rate commercial loans
Reclassified from accumulated other comprehensive income into income6 22 — — — — — — 
Total gain (loss) on cash flow hedging relationships
$6 $22 $— $— $— $(1)$— $— 
Total amounts presented in the Condensed Consolidated Statement of Comprehensive Income$1,714 $1,582 $188 $131 $211 $306 $185 $250 
Schedule of Derivative Instruments
The following table summarizes the location and amounts of gains and losses related to interest and amortization on derivative instruments designated as qualifying fair value and cash flow hedges reported in our Condensed Consolidated Statement of Comprehensive Income.
Interest and fees on finance receivables and loansInterest and dividends on investment securities and other earning assetsInterest on long-term debt
Three months ended March 31, ($ in millions)
202220212022202120222021
Gain (loss) on fair value hedging relationships
Interest rate contracts
Amortization of deferred unsecured debt basis adjustments$— $— $— $— $1 $1 
Interest for qualifying accounting hedges of unsecured debt— — — — — 1 
Amortization of deferred secured debt basis adjustments (FHLB advances)— — — — (1)(5)
Amortization of deferred basis adjustments of available-for-sale securities— — 1 (2)— — 
Interest for qualifying accounting hedges of available-for-sale securities— — (1)(1)— — 
Amortization of deferred loan basis adjustments(9)(13)— — — — 
Interest for qualifying accounting hedges of consumer automotive loans held for investment(18)(30)— — — — 
Total loss on fair value hedging relationships$(27)$(43)$— $(3)$— $(3)
Schedule of Cash Flow Hedges Included in Accumulated Other Comprehensive Income (Loss)
The following table summarizes the effect of cash flow hedges on accumulated other comprehensive loss.
Three months ended March 31,
($ in millions)20222021
Interest rate contracts
Loss recognized in other comprehensive loss$(6)$(21)
Schedule of Net Investment Hedges in Accumulated Other Comprehensive Income (Loss)
The following table summarizes the effect of net investment hedges on accumulated other comprehensive loss and the Condensed Consolidated Statement of Comprehensive Income.
Three months ended March 31,
($ in millions)20222021
Foreign exchange contracts (a) (b)
Loss recognized in other comprehensive loss$(3)$(2)
(a)There were no amounts excluded from effectiveness testing for the three months ended March 31, 2022, or 2021.
(b)Gains and losses reclassified from accumulated other comprehensive loss are reported as other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income. There were no amounts reclassified for the three months ended March 31, 2022, or 2021
v3.22.1
Fair Value (Tables)
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value, Assets and Liabilities Measured on a Recurring Basis
The following tables display the assets and liabilities measured at fair value on a recurring basis including financial instruments elected for the fair value option. We often economically hedge the fair value change of our assets or liabilities with derivatives and other financial instruments. The tables below display the hedges separately from the hedged items; therefore, they do not directly display the impact of our risk-management activities.
Recurring fair value measurements
March 31, 2022 ($ in millions)
Level 1Level 2Level 3Total
Assets
Investment securities
Equity securities (a)$868 $— $1 $869 
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies
2,387 — — 2,387 
U.S. States and political subdivisions
— 831 11 842 
Foreign government28 125 — 153 
Agency mortgage-backed residential
— 18,934 — 18,934 
Mortgage-backed residential
— 4,839 — 4,839 
Agency mortgage-backed commercial— 3,950 — 3,950 
Asset-backed— 483 — 483 
Corporate debt
— 1,797 — 1,797 
Total available-for-sale securities2,415 30,959 11 33,385 
Mortgage loans held-for-sale (b)
— 95 — 95 
Finance receivables and loans, net
Consumer other (b)— — 7 7 
Other assets
Derivative contracts in a receivable position
Interest rate— 2 3 5 
Equity contracts3 — — 3 
Total derivative contracts in a receivable position3 2 3 8 
Total assets$3,286 $31,056 $22 $34,364 
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position
Interest rate$— $— $7 $7 
Foreign currency— 5 — 5 
Credit contracts— — 57 57 
Equity contracts4 — — 4 
Total derivative contracts in a payable position
4 5 64 73 
Total liabilities$4 $5 $64 $73 
(a)Our direct investment in any one industry did not exceed 14%.
(b)Carried at fair value due to fair value option elections.
Recurring fair value measurements
December 31, 2021 ($ in millions)
Level 1Level 2Level 3Total
Assets
Investment securities
Equity securities (a)$1,093 $— $9 $1,102 
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies
2,155 — — 2,155 
U.S. States and political subdivisions
— 855 9 864 
Foreign government19 138 — 157 
Agency mortgage-backed residential
— 19,039 — 19,039 
Mortgage-backed residential
— 4,425 — 4,425 
Agency mortgage-backed commercial— 4,526 — 4,526 
Asset-backed— 534 — 534 
Corporate debt
— 1,887 — 1,887 
Total available-for-sale securities2,174 31,404 9 33,587 
Mortgage loans held-for-sale (b)
— 80 — 80 
Finance receivables and loans, net
Consumer other (b)— — 7 7 
Other assets
Derivative contracts in a receivable position
Interest rate— 1 5 6 
Equity contracts1 — — 1 
Total derivative contracts in a receivable position1 1 5 7 
Total assets$3,268 $31,485 $30 $34,783 
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position
Interest rate$— $— $2 $2 
Foreign currency— 3 — 3 
Credit contracts— — 56 56 
Equity contracts1 — — 1 
Total derivative contracts in a payable position
1 3 58 62 
Total liabilities$1 $3 $58 $62 
(a)Our direct investment in any one industry did not exceed 8%.
(b)Carried at fair value due to fair value option elections.
Fair Value, Assets Measured on a Recurring Basis, Unobservable Input Reconciliation
The following tables present the reconciliation for all Level 3 assets and liabilities measured at fair value on a recurring basis. We often economically hedge the fair value change of our assets or liabilities with derivatives and other financial instruments. The Level 3 items presented below may be hedged by derivatives and other financial instruments that are classified as Level 1 or Level 2. Thus, the following tables do not fully reflect the impact of our risk-management activities.
Equity securities (a)Available-for-sale securitiesMortgage loans held-for-sale (b) (c)Finance receivables and loans, net (b) (d)
($ in millions)20222021202220212022202120222021
Assets
Fair value at January 1,$9 $7 $9 $7 $— $91 $7 $8 
Net realized/unrealized gains (losses)
Included in earnings1 4 — — — 28 (1)2 
Included in OCI— — — — — — — — 
Purchases— — 2 — — 1,039 4 4 
Sales(9)— — — — (1,012)— — 
Issuances— — — — — — — — 
Settlements— — — — — — (3)(6)
Transfers into Level 3— — — — — — — — 
Transfers out of Level 3— — — — — — — — 
Fair value at March 31,$1 $11 $11 $7 $— $146 $7 $8 
Net unrealized gains (losses) still held at March 31,
Included in earnings$— $4 $— $— $— $1 $(1)$— 
Included in OCI— — — — — — — — 
(a)Net realized/unrealized gains (losses) are reported as other gain on investments, net, in the Condensed Consolidated Statement of Comprehensive Income.
(b)Carried at fair value due to fair value option elections.
(c)Net realized/unrealized gains (losses) are reported as gain on mortgage and automotive loans, net, in the Condensed Consolidated Statement of Comprehensive Income.
(d)Net realized/unrealized gains are reported as other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income.
Derivative liabilities, net of derivative assets (a)
($ in millions)20222021
Liabilities
Fair value at January 1,$53 $12 
Net realized/unrealized losses (gains)
Included in earnings8 15 
Included in OCI— — 
Purchases— — 
Sales— — 
Issuances— 1 
Settlements— — 
Transfers into Level 3— — 
Transfers out of Level 3— — 
Fair value at March 31,$61 $28 
Net unrealized losses (gains) still held at March 31,
Included in earnings$5 $15 
Included in OCI— — 
(a)Net realized/unrealized losses are reported as gain on mortgage and automotive loans, net, and other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income.
Fair Value Measurements - Nonrecurring Basis
The following tables display assets and liabilities measured at fair value on a nonrecurring basis and still held at March 31, 2022, and December 31, 2021, respectively. The amounts are generally as of the end of each period presented, which approximate the fair value measurements that occurred during each period.
Nonrecurring fair value measurements
Lower-of-cost-or-fair-value reserve, valuation reserve, or cumulative adjustments
Total gain (loss) included in earnings
March 31, 2022 ($ in millions)
Level 1
Level 2
Level 3
Total
Assets
Loans held-for-sale, net$— $— $376 $376 $— n/m(a)
Commercial finance receivables and loans, net (b)
Automotive
— — 1 1 — n/m(a)
Other
— — 87 87 (85)n/m(a)
Total commercial finance receivables and loans, net
— — 88 88 (85)n/m(a)
Other assets
Nonmarketable equity investments— — 13 13 (2)n/m(a)
Repossessed and foreclosed assets (c)— — 4 4 — n/m(a)
Total assets
$— $— $481 $481 $(87)n/m
n/m = not meaningful
(a)We consider the applicable valuation allowance, allowance for loan losses, or cumulative impairment to be the most relevant indicator of the impact on earnings caused by the fair value measurement. Accordingly, the table above excludes total gains and losses included in earnings for these items. The carrying values are inclusive of the respective valuation reserve, loan loss allowance, or cumulative adjustment.
(b)Represents collateral-dependent loans held for investment for which a nonrecurring measurement was made. The related allowance for loan losses represents the cumulative fair value adjustments for those specific receivables.
(c)The allowance provided for repossessed and foreclosed assets represents any cumulative valuation adjustment recognized to adjust the assets to fair value.
Nonrecurring fair value measurementsLower-of-cost-or-fair-value reserve, valuation reserve, or cumulative adjustmentsTotal gain (loss) included in earnings
December 31, 2021 ($ in millions)
Level 1Level 2Level 3Total
Assets
Loans held-for-sale, net$— $— $468 $468 $— n/m(a)
Commercial finance receivables and loans, net (b)
Automotive— — 4 4 — n/m(a)
Other— — 112 112 (65)n/m(a)
Total commercial finance receivables and loans, net— — 116 116 (65)n/m(a)
Other assets
Nonmarketable equity investments— — 7 7 (5)n/m(a)
Repossessed and foreclosed assets (c)— — 4 4 — n/m(a)
Total assets$— $— $595 $595 $(70)n/m
n/m = not meaningful
(a)We consider the applicable valuation allowance, allowance for loan losses, or cumulative impairment to be the most relevant indicator of the impact on earnings caused by the fair value measurement. Accordingly, the table above excludes total gains and losses included in earnings for these items. The carrying values are inclusive of the respective valuation reserve, loan loss allowance, or cumulative adjustment.
(b)Represents collateral-dependent loans held for investment for which a nonrecurring measurement was made. The related allowance for loan losses represents the cumulative fair value adjustments for those specific receivables.
(c)The allowance provided for repossessed and foreclosed assets represents any cumulative valuation adjustment recognized to adjust the assets to fair value.
Fair Value, by Balance Sheet Grouping
The following table presents the carrying and estimated fair value of financial instruments, except for those recorded at fair value on a recurring basis presented in the previous section of this note titled Recurring Fair Value. When possible, we use quoted market prices to determine fair value. Where quoted market prices are not available, the fair value is internally derived based on appropriate valuation methodologies with respect to the amount and timing of future cash flows and estimated discount rates. However, considerable judgment is required in interpreting current market data to develop the market assumptions and inputs necessary to estimate fair value. As such, the actual amount received to sell an asset or the amount paid to settle a liability could differ from our estimates. Fair value information presented herein was based on information available at March 31, 2022, and December 31, 2021.
Estimated fair value
($ in millions)
Carrying value
Level 1
Level 2
Level 3
Total
March 31, 2022
Financial assets
Held-to-maturity securities
$1,159 $— $1,106 $— $1,106 
Loans held-for-sale, net
376 — — 376 376 
Finance receivables and loans, net
122,057 — — 126,765 126,765 
FHLB/FRB stock (a)
856 — 856 — 856 
Financial liabilities
Deposit liabilities
$37,889 $— $— $37,793 $37,793 
Short-term borrowings
3,950 — — 3,950 3,950 
Long-term debt
15,885 — 10,991 6,514 17,505 
December 31, 2021
Financial assets
Held-to-maturity securities$1,170 $— $1,204 $— $1,204 
Loans held-for-sale, net469 — — 469 469 
Finance receivables and loans, net118,994 — — 126,044 126,044 
FHLB/FRB stock (a)738 — 738 — 738 
Financial liabilities
Deposit liabilities$40,953 $— $— $41,164 $41,164 
Long-term debt17,029 — 12,637 6,892 19,529 
(a)Included in other assets on our Condensed Consolidated Balance Sheet.
v3.22.1
Offsetting Assets and Liabilities (Tables)
 3 Months Ended
Mar. 31, 2022
Offsetting [Abstract]  
Offsetting Assets
The composition of offsetting derivative instruments, financial assets, and financial liabilities was as follows.
Gross amounts of recognized assets/liabilitiesGross amounts offset on the Condensed Consolidated Balance SheetNet amounts of assets/liabilities presented on the Condensed Consolidated Balance SheetGross amounts not offset on the Condensed Consolidated Balance Sheet
($ in millions)
Financial instruments
Collateral (a) (b) (c)
Net amount
March 31, 2022
Assets
Derivative assets in net liability positions
$3 $— $3 $(3)$— $— 
Derivative assets with no offsetting arrangements
5 — 5 — — 5 
Total assets
$8 $— $8 $(3)$— $5 
Liabilities
Derivative liabilities in net liability positions
$9 $— $9 $(3)$(6)$— 
Derivative liabilities with no offsetting arrangements64 — 64 — — 64 
Total liabilities$73 $— $73 $(3)$(6)$64 
December 31, 2021
Assets
Derivative assets in net asset positions$1 $— $1 $(1)$— $— 
Derivative assets with no offsetting arrangements
6 — 6 — — 6 
Total assets
$7 $— $7 $(1)$— $6 
Liabilities
Derivative liabilities in net liability positions
$3 $— $3 $— $(2)$1 
Derivative liabilities in net asset positions
1 — 1 (1)— — 
Derivative liabilities with no offsetting arrangements58 — 58 — — 58 
Total liabilities$62 $— $62 $(1)$(2)$59 
(a)Financial collateral received/pledged shown as a balance based on the sum of all net asset and liability positions between Ally and each individual derivative counterparty.
(b)Amounts disclosed are limited to the financial asset or liability balance and, accordingly, exclude excess collateral received or pledged and noncash collateral received. We do not record such collateral received on our Condensed Consolidated Balance Sheet unless certain conditions are met.
(c)Certain agreements grant us the right to sell or pledge the noncash assets we receive as collateral. We have not sold or pledged any of the noncash collateral received under these agreements.
Offsetting Liabilities
The composition of offsetting derivative instruments, financial assets, and financial liabilities was as follows.
Gross amounts of recognized assets/liabilitiesGross amounts offset on the Condensed Consolidated Balance SheetNet amounts of assets/liabilities presented on the Condensed Consolidated Balance SheetGross amounts not offset on the Condensed Consolidated Balance Sheet
($ in millions)
Financial instruments
Collateral (a) (b) (c)
Net amount
March 31, 2022
Assets
Derivative assets in net liability positions
$3 $— $3 $(3)$— $— 
Derivative assets with no offsetting arrangements
5 — 5 — — 5 
Total assets
$8 $— $8 $(3)$— $5 
Liabilities
Derivative liabilities in net liability positions
$9 $— $9 $(3)$(6)$— 
Derivative liabilities with no offsetting arrangements64 — 64 — — 64 
Total liabilities$73 $— $73 $(3)$(6)$64 
December 31, 2021
Assets
Derivative assets in net asset positions$1 $— $1 $(1)$— $— 
Derivative assets with no offsetting arrangements
6 — 6 — — 6 
Total assets
$7 $— $7 $(1)$— $6 
Liabilities
Derivative liabilities in net liability positions
$3 $— $3 $— $(2)$1 
Derivative liabilities in net asset positions
1 — 1 (1)— — 
Derivative liabilities with no offsetting arrangements58 — 58 — — 58 
Total liabilities$62 $— $62 $(1)$(2)$59 
(a)Financial collateral received/pledged shown as a balance based on the sum of all net asset and liability positions between Ally and each individual derivative counterparty.
(b)Amounts disclosed are limited to the financial asset or liability balance and, accordingly, exclude excess collateral received or pledged and noncash collateral received. We do not record such collateral received on our Condensed Consolidated Balance Sheet unless certain conditions are met.
(c)Certain agreements grant us the right to sell or pledge the noncash assets we receive as collateral. We have not sold or pledged any of the noncash collateral received under these agreements.
v3.22.1
Segment Information (Tables)
 3 Months Ended
Mar. 31, 2022
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
Financial information for our reportable operating segments is summarized as follows.
Three months ended March 31, ($ in millions)
Automotive Finance operationsInsurance operationsMortgage Finance operationsCorporate Finance operationsCorporate and OtherConsolidated (a)
2022
Net financing revenue and other interest income$1,295 $17 $53 $83 $245 $1,693 
Other revenue68 270 14 24 66 442 
Total net revenue1,363 287 67 107 311 2,135 
Provision for credit losses104 — — 6 57 167 
Total noninterest expense534 274 56 37 221 1,122 
Income from continuing operations before income tax expense$725 $13 $11 $64 $33 $846 
Total assets$105,754 $9,220 $18,596 $8,086 $42,641 $184,297 
2021
Net financing revenue and other interest income$1,206 $15 $23 $71 $57 $1,372 
Other revenue62 379 40 26 58 565 
Total net revenue1,268 394 63 97 115 1,937 
Provision for credit losses(22)— (4)13 — (13)
Total noninterest expense487 253 44 31 128 943 
Income (loss) from continuing operations before income tax expense$803 $141 $23 $53 $(13)$1,007 
Total assets$101,566 $9,221 $12,923 $6,421 $51,748 $181,879 
(a)Net financing revenue and other interest income after the provision for credit losses totaled $1.5 billion and $1.4 billion for the three months ended March 31, 2022, and March 31, 2021, respectively.
v3.22.1
Acquisitions (Narrative) (Details) - USD ($)
$ in Millions
Dec. 01, 2021
Mar. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Business Acquisition [Line Items]        
Goodwill   $ 822 $ 822 $ 343
Fair Square Financial Holdings LLC        
Business Acquisition [Line Items]        
Percentage of voting interests acquired 100.00%      
Cash consideration $ 741      
Goodwill $ 479      
v3.22.1
Acquisitions (Details) - USD ($)
$ in Millions
Dec. 01, 2021
Mar. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Business Acquisition [Line Items]        
Goodwill   $ 822 $ 822 $ 343
Fair Square Financial Holdings LLC        
Business Acquisition [Line Items]        
Cash consideration $ 741      
Finance receivables and loans 870      
Intangible assets 98      
Cash and short-term investments 42      
Other assets 46      
Debt (765)      
Other liabilities (29)      
Goodwill 479      
Financing receivable, purchased with credit deterioration, amount 22      
Financing receivable, purchased with credit deterioration, allowance for credit loss $ 12      
Weighted average amortization period 7 years      
v3.22.1
Revenue from Contracts with Customers (Disaggregation of Revenue) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers $ 221 $ 218    
All other revenue 221 347    
Total other revenue 442 565    
Remarketing gains (losses), net 50 64    
Corporate and Other        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 23 26    
All other revenue 43 32    
Total other revenue 66 58    
Automotive Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 32 33    
All other revenue 36 29    
Total other revenue 68 62    
Remarketing gains (losses), net 50 64    
Insurance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 166 159    
All other revenue 104 220    
Total other revenue 270 379    
Mortgage Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
All other revenue 14 40    
Total other revenue 14 40    
Corporate Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
All other revenue 24 26    
Total other revenue 24 26    
Noninsurance contracts        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 162 155    
Noninsurance contracts | Corporate and Other        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Noninsurance contracts | Automotive Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Noninsurance contracts | Insurance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 162 155    
Unearned revenue, remaining performance obligation, amount 3,000 3,000 $ 3,100 $ 3,000
Unearned revenue, revenue recognized 231 225    
Capitalized contract cost, net 1,800 1,800 $ 1,900 $ 1,800
Capitalized contract cost, amortization 137 132    
Noninsurance contracts | Insurance operations | Operating Segments | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-04-01        
Disaggregation of Revenue [Line Items]        
Unearned revenue, remaining performance obligation, amount $ 648      
Remaining performance obligation, expected timing of satisfaction, period 9 months      
Noninsurance contracts | Insurance operations | Operating Segments | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01        
Disaggregation of Revenue [Line Items]        
Unearned revenue, remaining performance obligation, amount $ 794      
Remaining performance obligation, expected timing of satisfaction, period 1 year      
Noninsurance contracts | Insurance operations | Operating Segments | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01        
Disaggregation of Revenue [Line Items]        
Unearned revenue, remaining performance obligation, amount $ 644      
Remaining performance obligation, expected timing of satisfaction, period 1 year      
Noninsurance contracts | Insurance operations | Operating Segments | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01        
Disaggregation of Revenue [Line Items]        
Unearned revenue, remaining performance obligation, amount $ 448      
Remaining performance obligation, expected timing of satisfaction, period 1 year      
Noninsurance contracts | Insurance operations | Operating Segments | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01        
Disaggregation of Revenue [Line Items]        
Unearned revenue, remaining performance obligation, amount $ 490      
Remaining performance obligation, expected timing of satisfaction, period      
Noninsurance contracts | Mortgage Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers $ 0 0    
Noninsurance contracts | Corporate Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Remarketing fee income        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 27 27    
Remarketing fee income | Corporate and Other        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Remarketing fee income | Automotive Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 27 27    
Remarketing fee income | Insurance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Remarketing fee income | Mortgage Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Remarketing fee income | Corporate Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Brokerage commissions and other revenue        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 11 20    
Brokerage commissions and other revenue | Corporate and Other        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 11 20    
Brokerage commissions and other revenue | Automotive Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Brokerage commissions and other revenue | Insurance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Brokerage commissions and other revenue | Mortgage Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Brokerage commissions and other revenue | Corporate Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Banking fees and interchange income        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 11 6    
Customer rewards expense 3      
Banking fees and interchange income | Corporate and Other        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 11 6    
Banking fees and interchange income | Automotive Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Banking fees and interchange income | Insurance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Banking fees and interchange income | Mortgage Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Banking fees and interchange income | Corporate Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Brokered/agent commissions        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 4 4    
Brokered/agent commissions | Corporate and Other        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Brokered/agent commissions | Automotive Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Brokered/agent commissions | Insurance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 4 4    
Brokered/agent commissions | Mortgage Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Brokered/agent commissions | Corporate Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Other        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 6 6    
Other | Corporate and Other        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 1 0    
Other | Automotive Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 5 6    
Other | Insurance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Other | Mortgage Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers 0 0    
Other | Corporate Finance operations | Operating Segments        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers $ 0 $ 0    
v3.22.1
Other Income, Net of Losses (Schedule of Other Income, Net of Losses) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Other Nonoperating Income (Expense) [Abstract]    
Late charges and other administrative fees $ 37 $ 31
Remarketing fees 27 27
Income from equity-method investments 20 14
(Loss) gain on nonmarketable equity investments, net (1) 4
Other, net 60 51
Total other income, net of losses $ 143 $ 127
v3.22.1
Reserves for Insurance Losses and Loss Adjustment Expenses (Rollforward of Reserves for Insurance Losses and Loss Adjustment Expenses) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Liability for Unpaid Claims and Claims Adjustment Expense [Roll Forward]    
Gross reserves for insurance losses and loss adjustment expenses, beginning balance $ 122 $ 129
Reinsurance recoverable 81 90
Net reserves for insurance losses and loss adjustment expenses, beginning balance 41 39
Net insurance losses and loss adjustment expenses, current year 61 64
Net insurance losses and loss adjustment expenses, prior years (3) (1)
Total net insurance losses and loss adjustment expenses incurred 58 63
Net insurance losses and loss adjustment expenses paid or payable, current year (36) (36)
Net insurance losses and loss adjustment expenses paid or payable, prior years (20) (23)
Total net insurance losses and loss adjustment expenses paid or payable (56) (59)
Net reserves for insurance losses and loss adjustment expenses, ending balance 43 43
Reinsurance recoverable 80 89
Gross reserves for insurance losses and loss adjustment expenses, ending balance $ 123 $ 132
v3.22.1
Other Operating Expenses (Schedule Of Other Operating Expenses) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Operating Expenses [Abstract]    
Insurance commissions $ 149 $ 136
Technology and communications 97 78
Advertising and marketing 72 41
Lease and loan administration 51 55
Professional services 43 33
Property and equipment depreciation 39 36
Regulatory and licensing fees 26 18
Vehicle remarketing and repossession 20 21
Amortization of intangible assets 8 5
Other 66 62
Total other operating expenses $ 571 $ 485
v3.22.1
Investment Securities (Investment Portfolio) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Available-for-sale securities    
Fair value [1] $ 33,385 $ 33,587
Held-to-maturity securities    
Amortized cost 1,159 1,170
Available-for-sale securities    
Held-to-maturity securities    
Securities pledged for Federal Home Loan Bank, at fair value 227 203
Operating Segments | Insurance operations | Available-for-sale securities    
Held-to-maturity securities    
Deposit securities 12 13
Available-for-sale debt securities | Available-for-sale securities    
Available-for-sale securities    
Amortized cost 35,592 33,650
Gross unrealized gains 31 358
Gross unrealized losses (2,238) (421)
Fair value 33,385 33,587
Held-to-maturity securities    
Debt securities, available-for-sale, accrued interest receivable 88 84
U.S. Treasury and federal agencies | Available-for-sale securities    
Available-for-sale securities    
Amortized cost 2,517 2,173
Gross unrealized gains 0 2
Gross unrealized losses (130) (20)
Fair value 2,387 2,155
U.S. States and political subdivisions | Available-for-sale securities    
Available-for-sale securities    
Amortized cost 886 841
Gross unrealized gains 3 27
Gross unrealized losses (47) (4)
Fair value 842 864
Foreign government | Available-for-sale securities    
Available-for-sale securities    
Amortized cost 161 157
Gross unrealized gains 0 2
Gross unrealized losses (8) (2)
Fair value 153 157
Agency mortgage-backed securities    
Held-to-maturity securities    
Amortized cost 1,159 1,170
Agency mortgage-backed securities | Available-for-sale securities    
Available-for-sale securities    
Amortized cost 20,100 19,044
Gross unrealized gains 12 219
Gross unrealized losses (1,178) (224)
Fair value 18,934 19,039
Agency mortgage-backed securities | Held-to-maturity securities    
Held-to-maturity securities    
Amortized cost 1,159 1,170
Gross unrealized gains 8 48
Gross unrealized losses (61) (14)
Fair value 1,106 1,204
Mortgage-backed residential | Available-for-sale securities    
Available-for-sale securities    
Amortized cost 5,158 4,448
Gross unrealized gains 1 11
Gross unrealized losses (320) (34)
Fair value 4,839 4,425
Agency mortgage-backed commercial | Available-for-sale securities    
Available-for-sale securities    
Amortized cost 4,371 4,573
Gross unrealized gains 12 66
Gross unrealized losses (433) (113)
Fair value 3,950 4,526
Asset-backed | Available-for-sale securities    
Available-for-sale securities    
Amortized cost 499 536
Gross unrealized gains 0 1
Gross unrealized losses (16) (3)
Fair value 483 534
Corporate debt | Available-for-sale securities    
Available-for-sale securities    
Amortized cost 1,900 1,878
Gross unrealized gains 3 30
Gross unrealized losses (106) (21)
Fair value 1,797 1,887
Held-to-maturity securities    
Held-to-maturity securities    
Amortized cost 1,159 1,170
Gross unrealized gains 8 48
Gross unrealized losses (61) (14)
Fair value 1,106 1,204
Debt securities, held-to-maturity, accrued interest receivable 2 3
Held-to-maturity securities | Held-to-maturity securities    
Held-to-maturity securities    
Fair value $ 1,106 $ 1,204
[1] Refer to Note 7 for discussion of cash and cash equivalents and investment securities pledged as collateral.
v3.22.1
Investment Securities (Investments Classified by Contractual Maturity Date) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Available-for-sale securities    
Total available-for-sale debt securities [1] $ 33,385 $ 33,587
Held-to-maturity securities    
Debt securities, held-to-maturity, amortized cost, amount 1,159 1,170
Cash equivalents 92 40
Asset Pledged as Collateral with Right    
Held-to-maturity securities    
Cash equivalents 33  
Agency mortgage-backed securities    
Held-to-maturity securities    
Debt securities, held-to-maturity, amortized cost, amount 1,159 1,170
Held-to-maturity securities    
Held-to-maturity securities    
Debt securities, held-to-maturity, amortized cost, amount $ 1,159 $ 1,170
Debt securities, held-to-maturity, yield 2.80% 2.80%
Debt securities, held-to-maturity, maturity, within one year, amortized cost $ 0 $ 0
Debt securities, held-to-maturity, due in one year or less, yield 0.00% 0.00%
Debt securities, held-to-maturity, maturity, one through five years, amortized cost $ 0 $ 0
Debt securities, held-to-maturity, due after one year through five years, yield 0.00% 0.00%
Debt securities, held-to-maturity, maturity, after five through ten years, amortized cost $ 0 $ 0
Debt securities, held-to-maturity, due after five years through ten years, yield 0.00% 0.00%
Debt securities, held-to-maturity, maturity, after ten years, amortized cost $ 1,159 $ 1,170
Debt securities, held-to-maturity, due after ten years, yield 2.80% 2.80%
Available-for-sale securities | Available-for-sale debt securities    
Available-for-sale securities    
Total available-for-sale debt securities $ 33,385 $ 33,587
Debt securities, available-for-sale, yield 2.30% 2.30%
Debt securities, available-for-sale, due in one year or less $ 393 $ 370
Debt securities, available-for-sale, due in one year or less, yield 1.40% 1.30%
Debt securities, available-for-sale, due after one year through five years $ 1,913 $ 1,905
Debt securities, available-for-sale, due after one year through five years, yield 1.80% 1.90%
Debt securities, available-for-sale, due after five years through ten years $ 3,896 $ 4,324
Debt securities, available-for-sale, due after five years through ten years, yield 2.00% 2.00%
Debt securities, available-for-sale, due after ten years $ 27,183 $ 26,988
Debt securities, available-for-sale, due after ten years, yield 2.40% 2.40%
Debt securities, available-for-sale, amortized cost $ 35,592 $ 33,650
Debt securities, available-for-sale, maturity, within one year, amortized cost 394 368
Debt securities, available-for-sale, maturity, after one through five years, amortized cost 1,979 1,893
Debt securities, available-for-sale, maturity, after five through ten years, amortized cost 4,135 4,291
Debt securities, available-for-sale, maturity, after ten years, amortized cost 29,084 27,098
Available-for-sale securities | U.S. Treasury and federal agencies    
Available-for-sale securities    
Total available-for-sale debt securities $ 2,387 $ 2,155
Debt securities, available-for-sale, yield 1.30% 1.10%
Debt securities, available-for-sale, due in one year or less $ 286 $ 288
Debt securities, available-for-sale, due in one year or less, yield 1.00% 1.00%
Debt securities, available-for-sale, due after one year through five years $ 600 $ 525
Debt securities, available-for-sale, due after one year through five years, yield 1.10% 0.90%
Debt securities, available-for-sale, due after five years through ten years $ 1,501 $ 1,342
Debt securities, available-for-sale, due after five years through ten years, yield 1.40% 1.20%
Debt securities, available-for-sale, due after ten years $ 0 $ 0
Debt securities, available-for-sale, due after ten years, yield 0.00% 0.00%
Debt securities, available-for-sale, amortized cost $ 2,517 $ 2,173
Available-for-sale securities | U.S. States and political subdivisions    
Available-for-sale securities    
Total available-for-sale debt securities $ 842 $ 864
Debt securities, available-for-sale, yield 3.00% 3.00%
Debt securities, available-for-sale, due in one year or less $ 37 $ 26
Debt securities, available-for-sale, due in one year or less, yield 2.30% 1.60%
Debt securities, available-for-sale, due after one year through five years $ 75 $ 77
Debt securities, available-for-sale, due after one year through five years, yield 2.80% 2.80%
Debt securities, available-for-sale, due after five years through ten years $ 131 $ 128
Debt securities, available-for-sale, due after five years through ten years, yield 3.30% 3.30%
Debt securities, available-for-sale, due after ten years $ 599 $ 633
Debt securities, available-for-sale, due after ten years, yield 3.00% 3.00%
Debt securities, available-for-sale, amortized cost $ 886 $ 841
Available-for-sale securities | Foreign government    
Available-for-sale securities    
Total available-for-sale debt securities $ 153 $ 157
Debt securities, available-for-sale, yield 1.60% 1.90%
Debt securities, available-for-sale, due in one year or less $ 1 $ 2
Debt securities, available-for-sale, due in one year or less, yield 1.00% 2.10%
Debt securities, available-for-sale, due after one year through five years $ 88 $ 97
Debt securities, available-for-sale, due after one year through five years, yield 1.60% 2.00%
Debt securities, available-for-sale, due after five years through ten years $ 64 $ 58
Debt securities, available-for-sale, due after five years through ten years, yield 1.70% 1.80%
Debt securities, available-for-sale, due after ten years $ 0 $ 0
Debt securities, available-for-sale, due after ten years, yield 0.00% 0.00%
Debt securities, available-for-sale, amortized cost $ 161 $ 157
Available-for-sale securities | Agency mortgage-backed securities    
Available-for-sale securities    
Total available-for-sale debt securities $ 18,934 $ 19,039
Debt securities, available-for-sale, yield 2.50% 2.50%
Debt securities, available-for-sale, due in one year or less $ 0 $ 0
Debt securities, available-for-sale, due in one year or less, yield 0.00% 0.00%
Debt securities, available-for-sale, due after one year through five years $ 0 $ 0
Debt securities, available-for-sale, due after one year through five years, yield 0.00% 0.00%
Debt securities, available-for-sale, due after five years through ten years $ 23 $ 26
Debt securities, available-for-sale, due after five years through ten years, yield 2.00% 2.00%
Debt securities, available-for-sale, due after ten years $ 18,911 $ 19,013
Debt securities, available-for-sale, due after ten years, yield 2.50% 2.50%
Debt securities, available-for-sale, amortized cost $ 20,100 $ 19,044
Available-for-sale securities | Mortgage-backed residential    
Available-for-sale securities    
Total available-for-sale debt securities $ 4,839 $ 4,425
Debt securities, available-for-sale, yield 2.60% 2.60%
Debt securities, available-for-sale, due in one year or less $ 0 $ 0
Debt securities, available-for-sale, due in one year or less, yield 0.00% 0.00%
Debt securities, available-for-sale, due after one year through five years $ 0 $ 0
Debt securities, available-for-sale, due after one year through five years, yield 0.00% 0.00%
Debt securities, available-for-sale, due after five years through ten years $ 20 $ 23
Debt securities, available-for-sale, due after five years through ten years, yield 2.90% 2.90%
Debt securities, available-for-sale, due after ten years $ 4,819 $ 4,402
Debt securities, available-for-sale, due after ten years, yield 2.60% 2.60%
Debt securities, available-for-sale, amortized cost $ 5,158 $ 4,448
Available-for-sale securities | Agency mortgage-backed commercial    
Available-for-sale securities    
Total available-for-sale debt securities $ 3,950 $ 4,526
Debt securities, available-for-sale, yield 2.00% 1.90%
Debt securities, available-for-sale, due in one year or less $ 0 $ 0
Debt securities, available-for-sale, due in one year or less, yield 0.00% 0.00%
Debt securities, available-for-sale, due after one year through five years $ 0 $ 26
Debt securities, available-for-sale, due after one year through five years, yield 0.00% 2.40%
Debt securities, available-for-sale, due after five years through ten years $ 1,117 $ 1,578
Debt securities, available-for-sale, due after five years through ten years, yield 2.30% 2.40%
Debt securities, available-for-sale, due after ten years $ 2,833 $ 2,922
Debt securities, available-for-sale, due after ten years, yield 1.80% 1.70%
Debt securities, available-for-sale, amortized cost $ 4,371 $ 4,573
Available-for-sale securities | Asset-backed    
Available-for-sale securities    
Total available-for-sale debt securities $ 483 $ 534
Debt securities, available-for-sale, yield 1.80% 1.90%
Debt securities, available-for-sale, due in one year or less $ 0 $ 0
Debt securities, available-for-sale, due in one year or less, yield 0.00% 0.00%
Debt securities, available-for-sale, due after one year through five years $ 336 $ 350
Debt securities, available-for-sale, due after one year through five years, yield 1.90% 2.00%
Debt securities, available-for-sale, due after five years through ten years $ 139 $ 175
Debt securities, available-for-sale, due after five years through ten years, yield 1.50% 1.50%
Debt securities, available-for-sale, due after ten years $ 8 $ 9
Debt securities, available-for-sale, due after ten years, yield 3.40% 3.40%
Debt securities, available-for-sale, amortized cost $ 499 $ 536
Available-for-sale securities | Corporate debt    
Available-for-sale securities    
Total available-for-sale debt securities $ 1,797 $ 1,887
Debt securities, available-for-sale, yield 2.30% 2.30%
Debt securities, available-for-sale, due in one year or less $ 69 $ 54
Debt securities, available-for-sale, due in one year or less, yield 2.40% 2.90%
Debt securities, available-for-sale, due after one year through five years $ 814 $ 830
Debt securities, available-for-sale, due after one year through five years, yield 2.20% 2.30%
Debt securities, available-for-sale, due after five years through ten years $ 901 $ 994
Debt securities, available-for-sale, due after five years through ten years, yield 2.30% 2.30%
Debt securities, available-for-sale, due after ten years $ 13 $ 9
Debt securities, available-for-sale, due after ten years, yield 3.00% 2.50%
Debt securities, available-for-sale, amortized cost $ 1,900 $ 1,878
Held-to-maturity securities | Agency mortgage-backed securities    
Held-to-maturity securities    
Debt securities, held-to-maturity, amortized cost, amount $ 1,159 $ 1,170
Debt securities, held-to-maturity, yield 2.80% 2.80%
Debt securities, held-to-maturity, maturity, within one year, amortized cost $ 0 $ 0
Debt securities, held-to-maturity, due in one year or less, yield 0.00% 0.00%
Debt securities, held-to-maturity, maturity, one through five years, amortized cost $ 0 $ 0
Debt securities, held-to-maturity, due after one year through five years, yield 0.00% 0.00%
Debt securities, held-to-maturity, maturity, after five through ten years, amortized cost $ 0 $ 0
Debt securities, held-to-maturity, due after five years through ten years, yield 0.00% 0.00%
Debt securities, held-to-maturity, maturity, after ten years, amortized cost $ 1,159 $ 1,170
Debt securities, held-to-maturity, due after ten years, yield 2.80% 2.80%
[1] Refer to Note 7 for discussion of cash and cash equivalents and investment securities pledged as collateral.
v3.22.1
Investment Securities (Investment Income) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest and dividends on investment securities $ 188 $ 131
Excludes other earning assets    
Taxable interest 174 114
Taxable dividends 4 5
Interest and dividends exempt from U.S. federal income tax 5 5
Interest and dividends on investment securities $ 183 $ 124
v3.22.1
Investment Securities (Schedule Of Realized Gain (Loss)) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Investments, Debt and Equity Securities [Abstract]    
Available-for-sale securities, gross realized gains $ 18 $ 32
Net realized gains on available-for-sale securities 18 32
Net realized gain on equity securities 52 74
Net unrealized (loss) gain on equity securities (65) 17
Other gain on investments, net $ 5 $ 123
v3.22.1
Investment securities (Investments Classified by Credit Rating) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Schedule of Held-to-maturity Securities [Line Items]    
Held-to-maturity securities $ 1,159 $ 1,170
Agency mortgage-backed securities    
Schedule of Held-to-maturity Securities [Line Items]    
Held-to-maturity securities 1,159 1,170
AA Rating    
Schedule of Held-to-maturity Securities [Line Items]    
Held-to-maturity securities 1,159 1,170
AA Rating | Agency mortgage-backed securities    
Schedule of Held-to-maturity Securities [Line Items]    
Held-to-maturity securities $ 1,159 $ 1,170
v3.22.1
Investment Securities (Schedule of Unrealized Loss on Investments) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Debt Securities [Line Items]    
Debt securities, available-for-sale, fair value, less than 12 months $ 24,982 $ 21,288
Debt securities, available-for-sale, unrealized loss, less than 12 months (1,553) (373)
Debt securities, available-for-sale, fair value, 12 months or longer 6,059 896
Debt securities, available-for-sale, unrealized loss, 12 months or longer (685) (48)
U.S. Treasury and federal agencies    
Debt Securities [Line Items]    
Debt securities, available-for-sale, fair value, less than 12 months 1,952 1,682
Debt securities, available-for-sale, unrealized loss, less than 12 months (93) (20)
Debt securities, available-for-sale, fair value, 12 months or longer 425 0
Debt securities, available-for-sale, unrealized loss, 12 months or longer (37) 0
U.S. States and political subdivisions    
Debt Securities [Line Items]    
Debt securities, available-for-sale, fair value, less than 12 months 541 160
Debt securities, available-for-sale, unrealized loss, less than 12 months (44) (3)
Debt securities, available-for-sale, fair value, 12 months or longer 41 31
Debt securities, available-for-sale, unrealized loss, 12 months or longer (3) (1)
Foreign government    
Debt Securities [Line Items]    
Debt securities, available-for-sale, fair value, less than 12 months 115 76
Debt securities, available-for-sale, unrealized loss, less than 12 months (5) (2)
Debt securities, available-for-sale, fair value, 12 months or longer 26 7
Debt securities, available-for-sale, unrealized loss, 12 months or longer (3) 0
Agency mortgage-backed securities    
Debt Securities [Line Items]    
Debt securities, available-for-sale, fair value, less than 12 months 13,237 12,244
Debt securities, available-for-sale, unrealized loss, less than 12 months (709) (223)
Debt securities, available-for-sale, fair value, 12 months or longer 4,416 38
Debt securities, available-for-sale, unrealized loss, 12 months or longer (469) (1)
Mortgage-backed residential    
Debt Securities [Line Items]    
Debt securities, available-for-sale, fair value, less than 12 months 4,716 3,243
Debt securities, available-for-sale, unrealized loss, less than 12 months (319) (34)
Debt securities, available-for-sale, fair value, 12 months or longer 19 22
Debt securities, available-for-sale, unrealized loss, 12 months or longer (1) 0
Agency mortgage-backed commercial    
Debt Securities [Line Items]    
Debt securities, available-for-sale, fair value, less than 12 months 2,713 2,553
Debt securities, available-for-sale, unrealized loss, less than 12 months (292) (70)
Debt securities, available-for-sale, fair value, 12 months or longer 868 749
Debt securities, available-for-sale, unrealized loss, 12 months or longer (141) (43)
Asset-backed    
Debt Securities [Line Items]    
Debt securities, available-for-sale, fair value, less than 12 months 459 360
Debt securities, available-for-sale, unrealized loss, less than 12 months (16) (3)
Debt securities, available-for-sale, fair value, 12 months or longer 3 0
Debt securities, available-for-sale, unrealized loss, 12 months or longer 0 0
Corporate debt    
Debt Securities [Line Items]    
Debt securities, available-for-sale, fair value, less than 12 months 1,249 970
Debt securities, available-for-sale, unrealized loss, less than 12 months (75) (18)
Debt securities, available-for-sale, fair value, 12 months or longer 261 49
Debt securities, available-for-sale, unrealized loss, 12 months or longer $ (31) $ (3)
v3.22.1
Finance Receivables and Loans, Net (Schedule of Accounts, Notes, Loans and Financing Receivables) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2021
Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total finance receivables and loans $ 125,365 $ 122,268    
Unamortized premiums and discounts and deferred fees and costs 2,300 2,300    
Accrued interest receivable 527 514    
Consumer        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total finance receivables and loans 99,869 98,226    
Consumer | Automotive        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total finance receivables and loans 78,911 78,252    
Consumer | Mortgage/Real Estate        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total finance receivables and loans 18,713 18,012    
Consumer | Mortgage Finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total finance receivables and loans 18,372 17,644    
Interest-only mortgage loans 5 5    
Consumer | Mortgage - Legacy        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total finance receivables and loans 341 368    
Interest-only mortgage loans 20 21    
Consumer | Other        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total finance receivables and loans 2,245 1,962    
Finance receivables, fair value 7 7 $ 8 $ 8
Consumer | Personal Lending        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total finance receivables and loans 1,209 1,009    
Consumer | Credit Card        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total finance receivables and loans 1,036 953    
Commercial        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total finance receivables and loans 25,496 24,042    
Commercial | Automotive        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total finance receivables and loans 13,497 12,229    
Commercial | Mortgage/Real Estate        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total finance receivables and loans 5,002 4,939    
Commercial | Other        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Total finance receivables and loans $ 6,997 $ 6,874    
v3.22.1
Finance Receivables and Loans, Net (Allowance for Credit Losses on Financing Receivables) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Financing Receivable, Allowance for Loan and Lease Losses [Roll Forward]        
Allowance, beginning balance $ 3,267 $ 3,283    
Charge-offs (301) (308)    
Recoveries 168 190    
Net charge-offs (133) (118)    
Provision for credit losses 167 (13)    
Other 0 0    
Allowance, ending balance 3,301 3,152    
Consumer | Automotive        
Financing Receivable, Allowance for Loan and Lease Losses [Roll Forward]        
Allowance, beginning balance 2,769 2,902    
Charge-offs (276) (284)    
Recoveries 163 187    
Net charge-offs (113) (97)    
Provision for credit losses 107 4    
Other 0 0    
Allowance, ending balance 2,763 2,809    
Consumer | Mortgage/Real Estate        
Financing Receivable, Allowance for Loan and Lease Losses [Roll Forward]        
Allowance, beginning balance 27 33    
Charge-offs (1) (2)    
Recoveries 3 3    
Net charge-offs 2 1    
Provision for credit losses (3) (7)    
Other 0 (1)    
Allowance, ending balance 26 26    
Consumer | Other        
Financing Receivable, Allowance for Loan and Lease Losses [Roll Forward]        
Allowance, beginning balance 221 73    
Charge-offs (24) (8)    
Recoveries 1 0    
Net charge-offs (23) (8)    
Provision for credit losses 59 3    
Other 1 1    
Allowance, ending balance 258 69    
Finance receivables, fair value 7 8 $ 7 $ 8
Commercial        
Financing Receivable, Allowance for Loan and Lease Losses [Roll Forward]        
Allowance, beginning balance 250 275    
Charge-offs 0 (14)    
Recoveries 1 0    
Net charge-offs 1 (14)    
Provision for credit losses 4 (13)    
Other (1) 0    
Allowance, ending balance $ 254 $ 248    
v3.22.1
Finance Receivables and Loans, Net (Schedule of Sales of Financing Receivables and Loans) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total sales and transfers $ 0 $ 329
Consumer | Mortgage/Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total sales and transfers $ 0 $ 329
v3.22.1
Finance Receivables and Loans, Net (Schedule of Purchases of Financing Receivables and Loans) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing receivables and loans, significant purchases $ 1,318 $ 765
Consumer | Automotive    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing receivables and loans, significant purchases 493 577
Consumer | Mortgage/Real Estate    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Financing receivables and loans, significant purchases $ 825 $ 188
v3.22.1
Finance Receivables and Loans, Net (Schedule of Financing Receivables, Nonaccrual Status) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivable, recorded investment, nonaccrual status $ 1,388   $ 1,436 $ 1,522
Financing receivable, nonaccrual, with no allowance 536   568  
Financing receivable, nonaccrual, interest income 3 $ 2    
Consumer        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivable, recorded investment, nonaccrual status 1,167   1,179 1,361
Financing receivable, nonaccrual, with no allowance 486   485  
Consumer | Automotive        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivable, recorded investment, nonaccrual status 1,072   1,078 1,256
Financing receivable, nonaccrual, with no allowance 422   423  
Consumer | Mortgage/Real Estate        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivable, recorded investment, nonaccrual status 75   85 102
Financing receivable, nonaccrual, with no allowance 64   62  
Consumer | Mortgage Finance        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivable, recorded investment, nonaccrual status 51   59 67
Financing receivable, nonaccrual, with no allowance 41   39  
Consumer | Mortgage - Legacy        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivable, recorded investment, nonaccrual status 24   26 35
Financing receivable, nonaccrual, with no allowance 23   23  
Consumer | Other        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivable, recorded investment, nonaccrual status 20   16 3
Financing receivable, nonaccrual, with no allowance 0   0  
Consumer | Personal Lending        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivable, recorded investment, nonaccrual status 6   5 3
Financing receivable, nonaccrual, with no allowance 0   0  
Consumer | Credit card receivables        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivable, recorded investment, nonaccrual status 14   11 0
Financing receivable, nonaccrual, with no allowance 0   0  
Commercial        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivable, recorded investment, nonaccrual status 221   257 161
Financing receivable, nonaccrual, with no allowance 50   83  
Commercial | Automotive        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivable, recorded investment, nonaccrual status 3   33 40
Financing receivable, nonaccrual, with no allowance 2   32  
Commercial | Mortgage/Real Estate        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivable, recorded investment, nonaccrual status 1   3 5
Financing receivable, nonaccrual, with no allowance 1   3  
Commercial | Other        
Accounts, Notes, Loans and Financing Receivable [Line Items]        
Financing receivable, recorded investment, nonaccrual status 217   221 $ 116
Financing receivable, nonaccrual, with no allowance $ 47   $ 48  
v3.22.1
Finance Receivables and Loans, Net (Financing Receivable Credit Quality Indicators Consumer) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2021
Dec. 31, 2020
Financing Receivable, Credit Quality Indicator [Line Items]        
Total finance receivables and loans $ 125,365 $ 122,268    
Consumer        
Financing Receivable, Credit Quality Indicator [Line Items]        
Total finance receivables and loans 99,869 98,226    
Consumer | Excludes fair value option elected other loans        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 11,413 46,869    
Year two, originated, fiscal year before current fiscal year 43,625 20,088    
Year three, originated, two years before current fiscal year 17,822 13,015    
Year four, originated, three years before current fiscal year 11,371 7,800    
Year five, originated, four years before current fiscal year 6,625 4,661    
Originated, more than five years before current fiscal year 7,719 4,562    
Revolving loans 1,264 1,197    
Revolving loans converted to term 23 27    
Total finance receivables and loans 99,862 98,219    
Consumer | Automotive        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 10,138 35,802    
Year two, originated, fiscal year before current fiscal year 32,285 17,736    
Year three, originated, two years before current fiscal year 15,632 12,010    
Year four, originated, three years before current fiscal year 10,451 7,028    
Year five, originated, four years before current fiscal year 5,948 3,610    
Originated, more than five years before current fiscal year 4,457 2,066    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 78,911 78,252    
Consumer | Mortgage/Real Estate        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 898 10,227    
Year two, originated, fiscal year before current fiscal year 10,641 2,215    
Year three, originated, two years before current fiscal year 2,083 986    
Year four, originated, three years before current fiscal year 905 767    
Year five, originated, four years before current fiscal year 674 1,050    
Originated, more than five years before current fiscal year 3,261 2,496    
Revolving loans 228 244    
Revolving loans converted to term 23 27    
Total finance receivables and loans 18,713 18,012    
Consumer | Mortgage Finance        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 898 10,227    
Year two, originated, fiscal year before current fiscal year 10,641 2,215    
Year three, originated, two years before current fiscal year 2,083 986    
Year four, originated, three years before current fiscal year 905 767    
Year five, originated, four years before current fiscal year 674 1,050    
Originated, more than five years before current fiscal year 3,171 2,399    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 18,372 17,644    
Consumer | Mortgage - Legacy        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 0    
Year two, originated, fiscal year before current fiscal year 0 0    
Year three, originated, two years before current fiscal year 0 0    
Year four, originated, three years before current fiscal year 0 0    
Year five, originated, four years before current fiscal year 0 0    
Originated, more than five years before current fiscal year 90 97    
Revolving loans 228 244    
Revolving loans converted to term 23 27    
Total finance receivables and loans 341 368    
Consumer | Other        
Financing Receivable, Credit Quality Indicator [Line Items]        
Total finance receivables and loans 2,245 1,962    
Finance receivables, fair value 7 7 $ 8 $ 8
Consumer | Other | Excludes fair value option elected other loans        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 377 840    
Year two, originated, fiscal year before current fiscal year 699 137    
Year three, originated, two years before current fiscal year 107 19    
Year four, originated, three years before current fiscal year 15 5    
Year five, originated, four years before current fiscal year 3 1    
Originated, more than five years before current fiscal year 1 0    
Revolving loans 1,036 953    
Revolving loans converted to term 0 0    
Total finance receivables and loans 2,238 1,955    
Consumer | Personal Lending        
Financing Receivable, Credit Quality Indicator [Line Items]        
Total finance receivables and loans 1,209 1,009    
Consumer | Personal Lending | Excludes fair value option elected other loans        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 377 840    
Year two, originated, fiscal year before current fiscal year 699 137    
Year three, originated, two years before current fiscal year 107 19    
Year four, originated, three years before current fiscal year 15 5    
Year five, originated, four years before current fiscal year 3 1    
Originated, more than five years before current fiscal year 1 0    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 1,202 1,002    
Consumer | Credit card receivables        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 0    
Year two, originated, fiscal year before current fiscal year 0 0    
Year three, originated, two years before current fiscal year 0 0    
Year four, originated, three years before current fiscal year 0 0    
Year five, originated, four years before current fiscal year 0 0    
Originated, more than five years before current fiscal year 0 0    
Revolving loans 1,036 953    
Revolving loans converted to term 0 0    
Total finance receivables and loans 1,036 953    
Current | Consumer | Automotive        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 10,120 35,222    
Year two, originated, fiscal year before current fiscal year 31,561 17,218    
Year three, originated, two years before current fiscal year 15,171 11,512    
Year four, originated, three years before current fiscal year 10,051 6,692    
Year five, originated, four years before current fiscal year 5,678 3,403    
Originated, more than five years before current fiscal year 4,186 1,911    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 76,767 75,958    
Current | Consumer | Mortgage Finance        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 895 10,169    
Year two, originated, fiscal year before current fiscal year 10,614 2,212    
Year three, originated, two years before current fiscal year 2,079 977    
Year four, originated, three years before current fiscal year 895 744    
Year five, originated, four years before current fiscal year 655 1,041    
Originated, more than five years before current fiscal year 3,132 2,363    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 18,270 17,506    
Current | Consumer | Mortgage - Legacy        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 0    
Year two, originated, fiscal year before current fiscal year 0 0    
Year three, originated, two years before current fiscal year 0 0    
Year four, originated, three years before current fiscal year 0 0    
Year five, originated, four years before current fiscal year 0 0    
Originated, more than five years before current fiscal year 75 79    
Revolving loans 221 238    
Revolving loans converted to term 20 23    
Total finance receivables and loans 316 340    
Current | Consumer | Personal Lending | Excludes fair value option elected other loans        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 375 821    
Year two, originated, fiscal year before current fiscal year 681 133    
Year three, originated, two years before current fiscal year 104 18    
Year four, originated, three years before current fiscal year 15 5    
Year five, originated, four years before current fiscal year 3 1    
Originated, more than five years before current fiscal year 1 0    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 1,179 978    
Current | Consumer | Credit card receivables        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 0    
Year two, originated, fiscal year before current fiscal year 0 0    
Year three, originated, two years before current fiscal year 0 0    
Year four, originated, three years before current fiscal year 0 0    
Year five, originated, four years before current fiscal year 0 0    
Originated, more than five years before current fiscal year 0 0    
Revolving loans 1,008 932    
Revolving loans converted to term 0 0    
Total finance receivables and loans 1,008 932    
Financing receivables, 30 to 59 days past due | Consumer | Automotive        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 17 424    
Year two, originated, fiscal year before current fiscal year 512 353    
Year three, originated, two years before current fiscal year 314 334    
Year four, originated, three years before current fiscal year 272 226    
Year five, originated, four years before current fiscal year 184 139    
Originated, more than five years before current fiscal year 179 101    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 1,478 1,577    
Financing receivables, 30 to 59 days past due | Consumer | Mortgage Finance        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 3 50    
Year two, originated, fiscal year before current fiscal year 23 3    
Year three, originated, two years before current fiscal year 3 3    
Year four, originated, three years before current fiscal year 4 7    
Year five, originated, four years before current fiscal year 6 2    
Originated, more than five years before current fiscal year 15 12    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 54 77    
Financing receivables, 30 to 59 days past due | Consumer | Mortgage - Legacy        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 0    
Year two, originated, fiscal year before current fiscal year 0 0    
Year three, originated, two years before current fiscal year 0 0    
Year four, originated, three years before current fiscal year 0 0    
Year five, originated, four years before current fiscal year 0 0    
Originated, more than five years before current fiscal year 2 2    
Revolving loans 1 1    
Revolving loans converted to term 1 0    
Total finance receivables and loans 4 3    
Financing receivables, 30 to 59 days past due | Consumer | Personal Lending | Excludes fair value option elected other loans        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 2 9    
Year two, originated, fiscal year before current fiscal year 7 2    
Year three, originated, two years before current fiscal year 1 0    
Year four, originated, three years before current fiscal year 0 0    
Year five, originated, four years before current fiscal year 0 0    
Originated, more than five years before current fiscal year 0 0    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 10 11    
Financing receivables, 30 to 59 days past due | Consumer | Credit card receivables        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 0    
Year two, originated, fiscal year before current fiscal year 0 0    
Year three, originated, two years before current fiscal year 0 0    
Year four, originated, three years before current fiscal year 0 0    
Year five, originated, four years before current fiscal year 0 0    
Originated, more than five years before current fiscal year 0 0    
Revolving loans 8 6    
Revolving loans converted to term 0 0    
Total finance receivables and loans 8 6    
Financing receivables, 60 to 89 days past due | Consumer | Automotive        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 1 115    
Year two, originated, fiscal year before current fiscal year 153 114    
Year three, originated, two years before current fiscal year 105 108    
Year four, originated, three years before current fiscal year 86 70    
Year five, originated, four years before current fiscal year 55 41    
Originated, more than five years before current fiscal year 52 28    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 452 476    
Financing receivables, 60 to 89 days past due | Consumer | Mortgage Finance        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 8    
Year two, originated, fiscal year before current fiscal year 1 0    
Year three, originated, two years before current fiscal year 1 1    
Year four, originated, three years before current fiscal year 1 0    
Year five, originated, four years before current fiscal year 2 0    
Originated, more than five years before current fiscal year 2 5    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 7 14    
Financing receivables, 60 to 89 days past due | Consumer | Mortgage - Legacy        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 0    
Year two, originated, fiscal year before current fiscal year 0 0    
Year three, originated, two years before current fiscal year 0 0    
Year four, originated, three years before current fiscal year 0 0    
Year five, originated, four years before current fiscal year 0 0    
Originated, more than five years before current fiscal year 1 1    
Revolving loans 0 0    
Revolving loans converted to term 0 1    
Total finance receivables and loans 1 2    
Financing receivables, 60 to 89 days past due | Consumer | Personal Lending | Excludes fair value option elected other loans        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 6    
Year two, originated, fiscal year before current fiscal year 6 1    
Year three, originated, two years before current fiscal year 1 1    
Year four, originated, three years before current fiscal year 0 0    
Year five, originated, four years before current fiscal year 0 0    
Originated, more than five years before current fiscal year 0 0    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 7 8    
Financing receivables, 60 to 89 days past due | Consumer | Credit card receivables        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 0    
Year two, originated, fiscal year before current fiscal year 0 0    
Year three, originated, two years before current fiscal year 0 0    
Year four, originated, three years before current fiscal year 0 0    
Year five, originated, four years before current fiscal year 0 0    
Originated, more than five years before current fiscal year 0 0    
Revolving loans 6 5    
Revolving loans converted to term 0 0    
Total finance receivables and loans 6 5    
Financing receivables, 90 or more days past due | Consumer | Automotive        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 41    
Year two, originated, fiscal year before current fiscal year 59 51    
Year three, originated, two years before current fiscal year 42 56    
Year four, originated, three years before current fiscal year 42 40    
Year five, originated, four years before current fiscal year 31 27    
Originated, more than five years before current fiscal year 40 26    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 214 241    
Financing receivables, 90 or more days past due | Consumer | Mortgage Finance        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 0    
Year two, originated, fiscal year before current fiscal year 3 0    
Year three, originated, two years before current fiscal year 0 5    
Year four, originated, three years before current fiscal year 5 16    
Year five, originated, four years before current fiscal year 11 7    
Originated, more than five years before current fiscal year 22 19    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 41 47    
Financing receivables, 90 or more days past due | Consumer | Mortgage - Legacy        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 0    
Year two, originated, fiscal year before current fiscal year 0 0    
Year three, originated, two years before current fiscal year 0 0    
Year four, originated, three years before current fiscal year 0 0    
Year five, originated, four years before current fiscal year 0 0    
Originated, more than five years before current fiscal year 12 15    
Revolving loans 6 5    
Revolving loans converted to term 2 3    
Total finance receivables and loans 20 23    
Financing receivables, 90 or more days past due | Consumer | Personal Lending | Excludes fair value option elected other loans        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 4    
Year two, originated, fiscal year before current fiscal year 5 1    
Year three, originated, two years before current fiscal year 1 0    
Year four, originated, three years before current fiscal year 0 0    
Year five, originated, four years before current fiscal year 0 0    
Originated, more than five years before current fiscal year 0 0    
Revolving loans 0 0    
Revolving loans converted to term 0 0    
Total finance receivables and loans 6 5    
Financing receivables, 90 or more days past due | Consumer | Credit card receivables        
Financing Receivable, Credit Quality Indicator [Line Items]        
Year one, originated, current fiscal year 0 0    
Year two, originated, fiscal year before current fiscal year 0 0    
Year three, originated, two years before current fiscal year 0 0    
Year four, originated, three years before current fiscal year 0 0    
Year five, originated, four years before current fiscal year 0 0    
Originated, more than five years before current fiscal year 0 0    
Revolving loans 14 10    
Revolving loans converted to term 0 0    
Total finance receivables and loans $ 14 $ 10    
v3.22.1
Finance Receivables and Loans, Net (Financing Receivable Credit Quality Indicators Commercial) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Financing Receivable, Credit Quality Indicator [Line Items]    
Total finance receivables and loans $ 125,365 $ 122,268
Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 604 2,419
Year two, originated, fiscal year before current fiscal year 2,320 1,896
Year three, originated, two years before current fiscal year 1,835 1,586
Year four, originated, three years before current fiscal year 1,458 783
Year five, originated, four years before current fiscal year 691 663
Originated, more than five years before current fiscal year 1,574 1,052
Revolving loans 16,862 15,512
Revolving loans converted to term 152 131
Total finance receivables and loans 25,496 24,042
Automotive loan | Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 70 354
Year two, originated, fiscal year before current fiscal year 352 192
Year three, originated, two years before current fiscal year 165 119
Year four, originated, three years before current fiscal year 101 65
Year five, originated, four years before current fiscal year 58 54
Originated, more than five years before current fiscal year 103 74
Revolving loans 12,648 11,371
Revolving loans converted to term 0 0
Total finance receivables and loans 13,497 12,229
Automotive loan | Pass | Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 70 347
Year two, originated, fiscal year before current fiscal year 350 190
Year three, originated, two years before current fiscal year 163 112
Year four, originated, three years before current fiscal year 95 49
Year five, originated, four years before current fiscal year 45 23
Originated, more than five years before current fiscal year 61 56
Revolving loans 12,121 10,741
Revolving loans converted to term 0 0
Total finance receivables and loans 12,905 11,518
Automotive loan | Special Mention | Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 0 7
Year two, originated, fiscal year before current fiscal year 2 1
Year three, originated, two years before current fiscal year 1 7
Year four, originated, three years before current fiscal year 5 15
Year five, originated, four years before current fiscal year 12 31
Originated, more than five years before current fiscal year 42 18
Revolving loans 469 589
Revolving loans converted to term 0 0
Total finance receivables and loans 531 668
Automotive loan | Substandard | Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 0 0
Year two, originated, fiscal year before current fiscal year 0 1
Year three, originated, two years before current fiscal year 1 0
Year four, originated, three years before current fiscal year 1 1
Year five, originated, four years before current fiscal year 1 0
Originated, more than five years before current fiscal year 0 0
Revolving loans 58 41
Revolving loans converted to term 0 0
Total finance receivables and loans 61 43
Other | Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 232 754
Year two, originated, fiscal year before current fiscal year 676 639
Year three, originated, two years before current fiscal year 638 565
Year four, originated, three years before current fiscal year 478 107
Year five, originated, four years before current fiscal year 106 249
Originated, more than five years before current fiscal year 518 299
Revolving loans 4,206 4,138
Revolving loans converted to term 143 123
Total finance receivables and loans 6,997 6,874
Other | Pass | Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 232 739
Year two, originated, fiscal year before current fiscal year 661 448
Year three, originated, two years before current fiscal year 447 374
Year four, originated, three years before current fiscal year 288 86
Year five, originated, four years before current fiscal year 62 99
Originated, more than five years before current fiscal year 137 68
Revolving loans 4,033 4,032
Revolving loans converted to term 99 83
Total finance receivables and loans 5,959 5,929
Other | Special Mention | Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 0 15
Year two, originated, fiscal year before current fiscal year 15 169
Year three, originated, two years before current fiscal year 169 96
Year four, originated, three years before current fiscal year 96 21
Year five, originated, four years before current fiscal year 44 10
Originated, more than five years before current fiscal year 133 122
Revolving loans 111 93
Revolving loans converted to term 20 17
Total finance receivables and loans 588 543
Other | Substandard | Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 0 0
Year two, originated, fiscal year before current fiscal year 0 22
Year three, originated, two years before current fiscal year 22 95
Year four, originated, three years before current fiscal year 94 0
Year five, originated, four years before current fiscal year 0 140
Originated, more than five years before current fiscal year 166 83
Revolving loans 55 13
Revolving loans converted to term 21 23
Total finance receivables and loans 358 376
Other | Doubtful | Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 0 0
Year two, originated, fiscal year before current fiscal year 0 0
Year three, originated, two years before current fiscal year 0 0
Year four, originated, three years before current fiscal year 0 0
Year five, originated, four years before current fiscal year 0 0
Originated, more than five years before current fiscal year 82 26
Revolving loans 7 0
Revolving loans converted to term 3 0
Total finance receivables and loans 92 26
Commercial real estate | Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 302 1,311
Year two, originated, fiscal year before current fiscal year 1,292 1,065
Year three, originated, two years before current fiscal year 1,032 902
Year four, originated, three years before current fiscal year 879 611
Year five, originated, four years before current fiscal year 527 360
Originated, more than five years before current fiscal year 953 679
Revolving loans 8 3
Revolving loans converted to term 9 8
Total finance receivables and loans 5,002 4,939
Commercial real estate | Pass | Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 302 1,298
Year two, originated, fiscal year before current fiscal year 1,285 1,060
Year three, originated, two years before current fiscal year 1,027 873
Year four, originated, three years before current fiscal year 781 604
Year five, originated, four years before current fiscal year 523 342
Originated, more than five years before current fiscal year 919 653
Revolving loans 8 3
Revolving loans converted to term 9 8
Total finance receivables and loans 4,854 4,841
Commercial real estate | Special Mention | Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 0 13
Year two, originated, fiscal year before current fiscal year 7 5
Year three, originated, two years before current fiscal year 5 29
Year four, originated, three years before current fiscal year 98 7
Year five, originated, four years before current fiscal year 4 18
Originated, more than five years before current fiscal year 30 19
Revolving loans 0 0
Revolving loans converted to term 0 0
Total finance receivables and loans 144 91
Commercial real estate | Substandard | Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Year one, originated, current fiscal year 0 0
Year two, originated, fiscal year before current fiscal year 0 0
Year three, originated, two years before current fiscal year 0 0
Year four, originated, three years before current fiscal year 0 0
Year five, originated, four years before current fiscal year 0 0
Originated, more than five years before current fiscal year 4 7
Revolving loans 0 0
Revolving loans converted to term 0 0
Total finance receivables and loans $ 4 $ 7
v3.22.1
Finance Receivables and Loans, Net (Past Due Financing Receivables and Loans Commercial) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans $ 125,365 $ 122,268
Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 25,496 24,042
Automotive loan | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 13,497 12,229
Other | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 6,997 6,874
Mortgage/Real Estate | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 5,002 4,939
Total past due | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 1 1
Total past due | Automotive loan | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 0 0
Total past due | Other | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 1 1
Total past due | Mortgage/Real Estate | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 0 0
Financing receivables, 30 to 59 days past due | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 0 0
Financing receivables, 30 to 59 days past due | Automotive loan | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 0 0
Financing receivables, 30 to 59 days past due | Other | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 0 0
Financing receivables, 30 to 59 days past due | Mortgage/Real Estate | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 0 0
Financing receivables, 60 to 89 days past due | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 0 0
Financing receivables, 60 to 89 days past due | Automotive loan | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 0 0
Financing receivables, 60 to 89 days past due | Other | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 0 0
Financing receivables, 60 to 89 days past due | Mortgage/Real Estate | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 0 0
Financing receivables, 90 or more days past due | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 1 1
Financing receivables, 90 or more days past due | Automotive loan | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 0 0
Financing receivables, 90 or more days past due | Other | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 1 1
Financing receivables, 90 or more days past due | Mortgage/Real Estate | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 0 0
Current | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 25,495 24,041
Current | Automotive loan | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 13,497 12,229
Current | Other | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans 6,996 6,873
Current | Mortgage/Real Estate | Commercial    
Financing Receivable, Past Due [Line Items]    
Total finance receivables and loans $ 5,002 $ 4,939
v3.22.1
Finance Receivables and Loans, Net (Troubled Debt Restructurings) (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2022
USD ($)
loan
Mar. 31, 2021
USD ($)
loan
Dec. 31, 2021
USD ($)
Financing Receivable, Troubled Debt Restructuring      
Financing receivable, modifications, gross carrying value $ 2,300   $ 2,400
Loans and leases receivable, impaired, commitment to lend $ 19   $ 18
Financing receivable, modifications, number of loans | loan 13,813 25,597  
Financing receivable, modifications, pre-modification amortized cost basis $ 272 $ 509  
Financing receivable, modifications, post-modification amortized cost basis $ 268 $ 503  
Consumer      
Financing Receivable, Troubled Debt Restructuring      
Financing receivable, modifications, number of loans | loan 13,812 25,596  
Financing receivable, modifications, pre-modification amortized cost basis $ 238 $ 476  
Financing receivable, modifications, post-modification amortized cost basis $ 234 $ 470  
Consumer | Automotive loan      
Financing Receivable, Troubled Debt Restructuring      
Financing receivable, modifications, number of loans | loan 13,451 25,590  
Financing receivable, modifications, pre-modification amortized cost basis $ 231 $ 472  
Financing receivable, modifications, post-modification amortized cost basis $ 227 $ 466  
Consumer | Mortgage/Real Estate      
Financing Receivable, Troubled Debt Restructuring      
Financing receivable, modifications, number of loans | loan 10 6  
Financing receivable, modifications, pre-modification amortized cost basis $ 6 $ 4  
Financing receivable, modifications, post-modification amortized cost basis $ 6 $ 4  
Consumer | Mortgage Finance      
Financing Receivable, Troubled Debt Restructuring      
Financing receivable, modifications, number of loans | loan 6 5  
Financing receivable, modifications, pre-modification amortized cost basis $ 5 $ 4  
Financing receivable, modifications, post-modification amortized cost basis $ 5 $ 4  
Consumer | Mortgage - Legacy      
Financing Receivable, Troubled Debt Restructuring      
Financing receivable, modifications, number of loans | loan 4 1  
Financing receivable, modifications, pre-modification amortized cost basis $ 1 $ 0  
Financing receivable, modifications, post-modification amortized cost basis $ 1 $ 0  
Consumer | Other      
Financing Receivable, Troubled Debt Restructuring      
Financing receivable, modifications, number of loans | loan 351 0  
Financing receivable, modifications, pre-modification amortized cost basis $ 1 $ 0  
Financing receivable, modifications, post-modification amortized cost basis $ 1 $ 0  
Consumer | Credit card receivables      
Financing Receivable, Troubled Debt Restructuring      
Financing receivable, modifications, number of loans | loan 351 0  
Financing receivable, modifications, pre-modification amortized cost basis $ 1 $ 0  
Financing receivable, modifications, post-modification amortized cost basis $ 1 $ 0  
Commercial      
Financing Receivable, Troubled Debt Restructuring      
Financing receivable, modifications, number of loans | loan 1 1  
Financing receivable, modifications, pre-modification amortized cost basis $ 34 $ 33  
Financing receivable, modifications, post-modification amortized cost basis $ 34 $ 33  
Commercial | Other      
Financing Receivable, Troubled Debt Restructuring      
Financing receivable, modifications, number of loans | loan 1 1  
Financing receivable, modifications, pre-modification amortized cost basis $ 34 $ 33  
Financing receivable, modifications, post-modification amortized cost basis $ 34 $ 33  
v3.22.1
Finance Receivables and Loans, Net (Finance Receivables and Loans Redefaulted During the Period) (Details) - Consumer
$ in Millions
 3 Months Ended
Mar. 31, 2022
USD ($)
loan
Mar. 31, 2021
USD ($)
loan
Accounts, Notes, Loans and Financing Receivable    
Number of loans | loan 2,113 2,816
Amortized cost $ 33 $ 33
Charge-off amount $ 13 $ 20
Automotive loan    
Accounts, Notes, Loans and Financing Receivable    
Number of loans | loan 2,111 2,814
Amortized cost $ 31 $ 33
Charge-off amount $ 13 $ 20
Mortgage/Real Estate    
Accounts, Notes, Loans and Financing Receivable    
Number of loans | loan 2 2
Amortized cost $ 2 $ 0
Charge-off amount $ 0 $ 0
Mortgage Finance    
Accounts, Notes, Loans and Financing Receivable    
Number of loans | loan 2 0
Amortized cost $ 2 $ 0
Charge-off amount $ 0 $ 0
Mortgage - Legacy    
Accounts, Notes, Loans and Financing Receivable    
Number of loans | loan 0 2
Amortized cost $ 0 $ 0
Charge-off amount $ 0 $ 0
v3.22.1
Leasing (Ally as the Lessee) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Lessee, Lease, Description [Line Items]      
Noncancelable lease term 367 days    
Lease extension, maximum 48 months    
Cash paid for amounts included in the measurement of lease liabilities $ 10 $ 13  
Right-of-use asset obtained in exchange for operating lease liability $ 12 $ 337  
Operating lease, weighted-average remaining lease term 5 years   6 years
Operating lease, weighted average discount rate 2.14%   1.96%
Undiscounted future lease payments $ 13    
Term of contract 10 years    
Finance lease liabilities $ 42   $ 0
Minimum      
Lessee, Lease, Description [Line Items]      
Operating lease remaining lease term 4 months    
Option to terminate 5 years    
Maximum      
Lessee, Lease, Description [Line Items]      
Operating lease remaining lease term 7 years    
Option to terminate 6 years    
Land and Building | Minimum      
Lessee, Lease, Description [Line Items]      
Option to extend 1 year    
Land and Building | Maximum      
Lessee, Lease, Description [Line Items]      
Option to extend 15 years    
v3.22.1
Leasing (Lessee, Operating Lease, Liability, Maturity) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Leases [Abstract]    
2022 $ 28  
2023 29  
2024 23  
2025 18  
2026 17  
2027 and thereafter 28  
Total undiscounted cash flows 143  
Difference between undiscounted cash flows and discounted cash flows (8)  
Total lease liability $ 135 $ 175
v3.22.1
Leasing (Lease, Cost) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Leases [Abstract]    
Operating lease expense $ 8 $ 12
Variable lease expense 1 2
Total lease expense, net $ 9 $ 14
v3.22.1
Leasing (Ally as the Lessor) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Lessor, Lease, Description [Line Items]    
Residual value guarantee, percentage 15.00% 15.00%
Vehicles $ 12,316 $ 12,384
Accumulated depreciation (1,586) (1,522)
Investment in operating leases, net $ 10,730 10,862
Minimum    
Lessor, Lease, Description [Line Items]    
Lessor, term of contract 24 months  
Maximum    
Lessor, Lease, Description [Line Items]    
Lessor, term of contract 60 months  
Vehicles    
Lessor, Lease, Description [Line Items]    
Residual value of leased asset $ 120 $ 165
v3.22.1
Leasing (Lessor, Operating Lease, Payments to be Received, Maturity) (Details)
$ in Millions
Mar. 31, 2022
USD ($)
Leases [Abstract]  
2022 $ 1,201
2023 1,247
2024 623
2025 169
2026 13
Total lease payments from operating leases $ 3,253
v3.22.1
Leasing (Depreciation Expense on Operating Lease Assets) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Leases [Abstract]    
Operating lease revenue $ 403 $ 370
Depreciation expense on operating lease assets 267 227
Remarketing gains, net (50) (64)
Net depreciation expense on operating lease assets 217 163
Variable lease payments, excessive wear and tear $ 2 $ 5
v3.22.1
Leasing (Sales-type and Direct Financing Leases, Lease Receivable, Maturity) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Leases [Abstract]      
Direct financing lease, net investment in lease $ 461   $ 470
Direct financing lease, present value of lease payments recorded as lease receivable 448   457
Direct financing lease, unguaranteed residual asset 13   $ 13
Direct financing lease, interest income 7 $ 6  
2022 121    
2023 140    
2024 114    
2025 65    
2026 38    
2027 and thereafter 17    
Total undiscounted cash flows 495    
Difference between undiscounted cash flows and discounted cash flows (447)    
Present value of lease payments recorded as lease receivable $ 48    
v3.22.1
Securitizations and Variable Interest Entities (Narrative) (Details) - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Derecognized Assets, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items]    
Sales of financial assets $ 0 $ 0
Off-balance sheet variable interest entities | Consumer Automotive Industry Sector    
Derecognized Assets, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items]    
Net credit losses recognized $ 0 $ 0
v3.22.1
Securitizations and Variable Interest Entities (Schedule of Variable Interest Entities) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2021
Variable Interest Entity [Line Items]      
Carrying value of total assets $ 184,297 $ 182,114 $ 181,879
Carrying value of total liabilities 168,884 165,064  
Other assets 8,957 8,057  
On-balance sheet variable interest entities      
Variable Interest Entity [Line Items]      
Carrying value of total assets 8,188 7,509  
Carrying value of total liabilities 799 1,339  
Other assets 633 563  
On-balance sheet variable interest entities | Consumer | Automotive loan      
Variable Interest Entity [Line Items]      
Carrying value of total assets 19,016 18,158  
Carrying value of total liabilities 917 1,162  
Assets sold to nonconsolidated VIEs 0 0  
Maximum exposure to loss in nonconsolidated VIEs 0 0  
Assets held-in-trust 10,800 11,000  
Non-recourse debt 118 124  
On-balance sheet variable interest entities | Consumer | Other      
Variable Interest Entity [Line Items]      
Carrying value of total assets   318  
Carrying value of total liabilities   300  
Assets sold to nonconsolidated VIEs   0  
Maximum exposure to loss in nonconsolidated VIEs   0  
Off-balance sheet variable interest entities      
Variable Interest Entity [Line Items]      
Carrying value of total assets 20,885 20,290  
Carrying value of total liabilities 1,633 2,188  
Assets sold to nonconsolidated VIEs 13 0  
Maximum exposure to loss in nonconsolidated VIEs 2,436 2,416  
Off-balance sheet variable interest entities | Consumer | Other      
Variable Interest Entity [Line Items]      
Carrying value of total assets 0    
Carrying value of total liabilities 0    
Assets sold to nonconsolidated VIEs 13    
Maximum exposure to loss in nonconsolidated VIEs 13    
Off-balance sheet variable interest entities | Commercial | Other      
Variable Interest Entity [Line Items]      
Carrying value of total assets 1,869 1,814  
Carrying value of total liabilities 716 726  
Assets sold to nonconsolidated VIEs 0 0  
Maximum exposure to loss in nonconsolidated VIEs 2,423 2,416  
Other assets $ 1 $ 8  
v3.22.1
Securitizations and Variable Interest Entities (Schedule of Cash Flows with Nonconsolidated Special-Purpose Entities) (Details) - Off-balance sheet variable interest entities - Consumer Other Portfolio Sector - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Cash Flow Received and Paid to Nonconsolidated Securitization Entities [Line Items]    
Cash proceeds from transfers completed during the period $ 12 $ 0
Servicing fees 1 0
Total $ 13 $ 0
v3.22.1
Securitizations and Variable Interest Entities (Schedule of Quantitative Information and Net Credit Losses about Securitized and Other Financial Assets Managed Together) (Details) - Consumer Other Portfolio Sector - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Derecognized Assets, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items]    
Total amount $ 13 $ 4
Amount 60 days or more past due 0 0
Whole-loan sales    
Derecognized Assets, Securitized or Asset-backed Financing Arrangement Assets and any Other Financial Assets Managed Together [Line Items]    
Total amount 13 4
Amount 60 days or more past due $ 0 $ 0
v3.22.1
Other Assets (Schedule of Other Assets) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Other Assets [Abstract]      
Property and equipment at cost $ 2,178 $ 2,139  
Accumulated depreciation (980) (955)  
Net property and equipment 1,198 1,184  
Investment in qualified affordable housing projects 1,373 1,378  
Nonmarketable equity investments 1,116 998  
Goodwill 822 822 $ 343
Net deferred tax assets 625 254  
Accrued interest, fees, and rent receivables 609 600  
Restricted cash held for securitization trusts 583 516  
Equity-method investments 544 472  
Other accounts receivable 293 127  
Net intangible assets 121 129  
Operating lease right-of-use assets 111 148  
Restricted cash and cash equivalents 100 92  
Finance lease right-of-use assets 44 0  
Other assets 1,418 1,337  
Total other assets $ 8,957 $ 8,057  
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Total other assets Total other assets  
v3.22.1
Other Assets (Summary of Equity Securities without Readily Determinable Fair Value) (Details) - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Dec. 31, 2021
Other Assets [Abstract]      
FHLB stock $ 407,000,000   $ 289,000,000
FRB stock 449,000,000   449,000,000
Equity securities without a readily determinable fair value      
Cost basis 90,000,000   89,000,000
Upward adjustments 183,000,000   183,000,000
Downward adjustments (including impairment) (13,000,000)   (12,000,000)
Carrying amount, equity securities without a readily determinable fair value 260,000,000   260,000,000
Nonmarketable equity investments 1,116,000,000   $ 998,000,000
Upward adjustments 1,000,000 $ 2,000,000  
Downward adjustments (including impairment) (2,000,000) (1,000,000)  
Impairment of FHLB and FRB stock 0 0  
(Loss) gain on nonmarketable equity investments, net $ (1,000,000) $ 4,000,000  
v3.22.1
Other Assets (Schedule of Goodwill) (Details) - USD ($)
$ in Millions
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Goodwill [Roll Forward]    
Goodwill beginning balance $ 822 $ 343
Goodwill acquired 0 479
Goodwill ending balance 822 822
Operating Segments | Automotive Finance operations    
Goodwill [Roll Forward]    
Goodwill beginning balance 20 20
Goodwill acquired 0 0
Goodwill ending balance 20 20
Operating Segments | Insurance operations    
Goodwill [Roll Forward]    
Goodwill beginning balance 27 27
Goodwill acquired 0 0
Goodwill ending balance 27 27
Corporate and Other    
Goodwill [Roll Forward]    
Goodwill beginning balance 775 296
Goodwill acquired 0 479
Goodwill ending balance 775 775
Ally Credit Card    
Goodwill [Roll Forward]    
Goodwill beginning balance 479  
Goodwill ending balance 479 479
Ally Lending | Corporate and Other    
Goodwill [Roll Forward]    
Goodwill beginning balance 153  
Goodwill ending balance 153 153
Ally Invest | Corporate and Other    
Goodwill [Roll Forward]    
Goodwill beginning balance 143  
Goodwill ending balance $ 143 $ 143
v3.22.1
Other Assets (Intangible Assets) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]    
Accumulated amortization $ (86) $ (78)
Total intangible assets, gross 207 207
Net intangible assets 121 129
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]    
2022 23  
2023 25  
2024 18  
2025 14  
2026 14  
Technology    
Finite-Lived Intangible Assets [Line Items]    
Gross intangible assets 83 83
Accumulated amortization (12) (9)
Net carrying value 71 74
Customer lists    
Finite-Lived Intangible Assets [Line Items]    
Gross intangible assets 58 58
Accumulated amortization (44) (42)
Net carrying value 14 16
Purchased credit card relationships    
Finite-Lived Intangible Assets [Line Items]    
Gross intangible assets 25 25
Accumulated amortization (1) 0
Net carrying value 24 25
Trademarks    
Finite-Lived Intangible Assets [Line Items]    
Gross intangible assets 2 2
Accumulated amortization 0 0
Net carrying value 2 2
Other    
Finite-Lived Intangible Assets [Line Items]    
Gross intangible assets 39 39
Accumulated amortization (29) (27)
Net carrying value $ 10 $ 12
v3.22.1
Deposit Liabilities (Schedule of Deposit Liabilities) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Deposits [Abstract]    
Noninterest-bearing deposits $ 175 $ 150
Interest-bearing deposits    
Savings, money market, and checking accounts 106,411 102,455
Certificates of deposit 35,889 38,953
Total deposit liabilities 142,475 141,558
Certificates of deposit, in excess of $250,000 federal insurance limits $ 6,600 $ 7,200
v3.22.1
Debt (Schedule of Short-term Debt) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Short-term Debt [Line Items]    
Federal Home Loan Bank $ 2,950 $ 0
Other 1,000 0
Total short-term borrowings 3,950 0
Unsecured debt    
Short-term Debt [Line Items]    
Federal Home Loan Bank 0 0
Other 0 0
Total short-term borrowings 0 0
Secured debt    
Short-term Debt [Line Items]    
Federal Home Loan Bank 2,950 0
Other 1,000 0
Total short-term borrowings $ 3,950 $ 0
v3.22.1
Debt (Long-term Debt) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Debt Instrument [Line Items]    
Long-term debt, due within one year $ 4,173 $ 5,869
Long-term debt, due after one year 11,712 11,160
Long-term debt 15,885 17,029
Secured debt 11,030 7,619
Unsecured debt    
Debt Instrument [Line Items]    
Long-term debt, due within one year 384 1,028
Long-term debt, due after one year 8,421 8,382
Long-term debt 8,805 9,410
Secured debt    
Debt Instrument [Line Items]    
Long-term debt, due within one year 3,789 4,841
Long-term debt, due after one year 3,291 2,778
Long-term debt 7,080 7,619
Federal Home Loan Bank advances    
Debt Instrument [Line Items]    
Secured debt $ 6,300 $ 6,300
v3.22.1
Debt (Scheduled Remaining Maturity of Long-term Debt) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Debt Instrument [Line Items]    
Long-term debt, maturities, repayments of principal in next 12 months $ 3,830  
Long-term debt, maturities, repayments of principal in year two 3,629  
Long-term debt, maturities, repayments of principal in year three 3,164  
Long-term debt, maturities, repayments of principal in year four 2,581  
Long-term debt, maturities, repayments of principal in year five (44)  
Long-term debt, maturities, repayments of principal after year five 2,725  
Total long-term debt 15,885 $ 17,029
Unsecured debt    
Debt Instrument [Line Items]    
Long-term debt, maturities, repayments of principal in next 12 months 393  
Long-term debt, maturities, repayments of principal in year two 2,027  
Long-term debt, maturities, repayments of principal in year three 1,416  
Long-term debt, maturities, repayments of principal in year four 2,306  
Long-term debt, maturities, repayments of principal in year five (52)  
Long-term debt, maturities, repayments of principal after year five 2,715  
Total long-term debt 8,805 9,410
Secured debt    
Debt Instrument [Line Items]    
Total long-term debt 7,080 $ 7,619
Long-term debt | Unsecured debt    
Debt Instrument [Line Items]    
Long-term debt, maturities, repayments of principal in next 12 months 433  
Long-term debt, maturities, repayments of principal in year two 2,085  
Long-term debt, maturities, repayments of principal in year three 1,481  
Long-term debt, maturities, repayments of principal in year four 2,377  
Long-term debt, maturities, repayments of principal in year five 27  
Long-term debt, maturities, repayments of principal after year five 3,312  
Total long-term debt 9,715  
Long-term debt | Secured debt    
Debt Instrument [Line Items]    
Long-term debt, maturities, repayments of principal in next 12 months 3,437  
Long-term debt, maturities, repayments of principal in year two 1,602  
Long-term debt, maturities, repayments of principal in year three 1,748  
Long-term debt, maturities, repayments of principal in year four 275  
Long-term debt, maturities, repayments of principal in year five 8  
Long-term debt, maturities, repayments of principal after year five 10  
Total long-term debt 7,080  
Original issue discount | Unsecured debt    
Debt Instrument [Line Items]    
Debt instrument, unamortized discount (910)  
Original issue discount | Unsecured debt | 2022    
Debt Instrument [Line Items]    
Debt instrument, unamortized discount, current (40)  
Original issue discount | Unsecured debt | 2023    
Debt Instrument [Line Items]    
Debt instrument, unamortized discount, noncurrent (58)  
Original issue discount | Unsecured debt | 2024    
Debt Instrument [Line Items]    
Debt instrument, unamortized discount, noncurrent (65)  
Original issue discount | Unsecured debt | 2025    
Debt Instrument [Line Items]    
Debt instrument, unamortized discount, noncurrent (71)  
Original issue discount | Unsecured debt | 2026    
Debt Instrument [Line Items]    
Debt instrument, unamortized discount, noncurrent (79)  
Original issue discount | Unsecured debt | 2027 and thereafter    
Debt Instrument [Line Items]    
Debt instrument, unamortized discount, noncurrent $ (597)  
v3.22.1
Debt (Pledged Assets Related to Secured Borrowings and Repurchase Agreement) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Pledged Assets related to secured borrowings [Line Items]    
Pledged assets, restricted as collateral $ 29,680 $ 27,420
Secured debt 11,030 7,619
Short-term borrowings 3,950 0
Consumer    
Pledged Assets related to secured borrowings [Line Items]    
Pledged assets, mortgage finance receivables 18,655 17,941
Consumer | Automotive loan    
Pledged Assets related to secured borrowings [Line Items]    
Pledged assets, finance receivables 10,015 9,122
Consumer | Credit card receivables    
Pledged Assets related to secured borrowings [Line Items]    
Pledged assets, finance receivables 0 347
Commercial    
Pledged Assets related to secured borrowings [Line Items]    
Pledged assets, finance receivables 1,010 10
Ally Bank    
Pledged Assets related to secured borrowings [Line Items]    
Pledged assets, restricted as collateral 29,680 27,420
Secured debt 11,030 7,619
Ally Bank | Pledged assets for Federal Home Loan Bank    
Pledged Assets related to secured borrowings [Line Items]    
Pledged assets, restricted as collateral 18,700 18,000
Ally Bank | Pledged assets for Federal Reserve Bank    
Pledged Assets related to secured borrowings [Line Items]    
Pledged assets, restricted as collateral 2,400 2,400
Ally Bank | Consumer    
Pledged Assets related to secured borrowings [Line Items]    
Pledged assets, mortgage finance receivables 18,655 17,941
Ally Bank | Consumer | Automotive loan    
Pledged Assets related to secured borrowings [Line Items]    
Pledged assets, finance receivables 10,015 9,122
Ally Bank | Consumer | Credit card receivables    
Pledged Assets related to secured borrowings [Line Items]    
Pledged assets, finance receivables 0 347
Ally Bank | Commercial    
Pledged Assets related to secured borrowings [Line Items]    
Pledged assets, finance receivables $ 1,010 $ 10
v3.22.1
Accrued Expenses and Other Liabilities (Schedule of Accrued Expenses and Other Liabilities) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2021
Dec. 31, 2020
Accounts Payable and Accrued Liabilities [Abstract]        
Accounts payable $ 774 $ 584    
Unfunded commitments for investment in qualified affordable housing projects 714 724    
Employee compensation and benefits 302 512    
Deferred revenue 172 176    
Operating lease liabilities 135 175    
Reserves for insurance losses and loss adjustment expenses 123 122 $ 132 $ 129
Finance lease liabilities 42 0    
Other liabilities 510 460    
Total accrued expenses and other liabilities $ 2,772 $ 2,753    
Operating lease, liability, statement of financial position [Extensible Enumeration] Total accrued expenses and other liabilities Total accrued expenses and other liabilities    
Finance lease, liability, statement of financial position [Extensible Enumeration] Total accrued expenses and other liabilities Total accrued expenses and other liabilities    
v3.22.1
Preferred Stock (Details) - $ / shares
 1 Months Ended 3 Months Ended
May 15, 2028
May 15, 2026
Jun. 30, 2021
Apr. 30, 2021
Mar. 31, 2022
Series B Preferred Stock          
Class of Stock [Line Items]          
Number of shares issued       1,350,000 1,350,000
Dividend/coupon rate       4.70%  
Par value (in dollars per share)       $ 0.01 $ 0.01
Liquidation preference (in dollars per share)       $ 1,000 $ 1,000
Series B Preferred Stock, On And After May 15, 2026 | US Treasury (UST) Interest Rate          
Class of Stock [Line Items]          
Dividend/coupon rate         3.868%
Series B Preferred Stock, On And After May 15, 2026 | US Treasury (UST) Interest Rate | Subsequent event          
Class of Stock [Line Items]          
Dividend/coupon rate   3.868%      
Series C Preferred Stock          
Class of Stock [Line Items]          
Number of shares issued     1,000,000   1,000,000
Dividend/coupon rate     4.70%    
Par value (in dollars per share)     $ 0.01   $ 0.01
Liquidation preference (in dollars per share)     $ 1,000   $ 1,000
Series C Preferred Stock, On And After May 15, 2028 | US Treasury (UST) Interest Rate          
Class of Stock [Line Items]          
Dividend/coupon rate         3.481%
Series C Preferred Stock, On And After May 15, 2028 | US Treasury (UST) Interest Rate | Subsequent event          
Class of Stock [Line Items]          
Dividend/coupon rate 3.481%        
v3.22.1
Preferred Stock (Schedule of Preferred Stock) (Details) - USD ($)
$ / shares in Units, $ in Millions
 1 Months Ended 3 Months Ended
Jun. 30, 2021
Apr. 30, 2021
Mar. 31, 2022
Dec. 31, 2021
Class of Stock [Line Items]        
Carrying value     $ 2,324 $ 2,324
Series B Preferred Stock        
Class of Stock [Line Items]        
Carrying value     $ 1,335  
Par value (in dollars per share)   $ 0.01 $ 0.01  
Liquidation preference (in dollars per share)   $ 1,000 $ 1,000  
Number of shares authorized     1,350,000  
Number of shares issued   1,350,000 1,350,000  
Number of shares outstanding     1,350,000  
Dividend/coupon rate   4.70%    
Series B Preferred Stock, Prior To May 15, 2026        
Class of Stock [Line Items]        
Dividend/coupon rate     4.70%  
Series B Preferred Stock, On And After May 15, 2026 | US Treasury (UST) Interest Rate        
Class of Stock [Line Items]        
Dividend/coupon rate     3.868%  
Series C Preferred Stock        
Class of Stock [Line Items]        
Carrying value     $ 989  
Par value (in dollars per share) $ 0.01   $ 0.01  
Liquidation preference (in dollars per share) $ 1,000   $ 1,000  
Number of shares authorized     1,000,000  
Number of shares issued 1,000,000   1,000,000  
Number of shares outstanding     1,000,000  
Dividend/coupon rate 4.70%      
Series C Preferred Stock, Prior To May 15, 2028        
Class of Stock [Line Items]        
Dividend/coupon rate     4.70%  
Series C Preferred Stock, On And After May 15, 2028 | US Treasury (UST) Interest Rate        
Class of Stock [Line Items]        
Dividend/coupon rate     3.481%  
v3.22.1
Accumulated Other Comprehensive Loss (Schedule of Accumulated Other Comprehensive Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance $ 17,050 $ 14,703
Net change (1,633) (604)
Ending balance 15,413 14,625
Accumulated other comprehensive income (loss)    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance (158) 631
Ending balance (1,791) 27
Unrealized gains on investment securities    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance (95) 640
Net change (1,631) (587)
Ending balance (1,726) 53
Translation adjustments and net investment hedges    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance 19 19
Net change 1 1
Ending balance 20 20
Cash flow hedges    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance 35 82
Net change (5) (17)
Ending balance 30 65
Defined benefit pension plans    
AOCI Attributable to Parent, Net of Tax [Roll Forward]    
Beginning balance (117) (110)
Net change 2 (1)
Ending balance $ (115) $ (111)
v3.22.1
Accumulated Other Comprehensive Loss (Reclassification Out of Accumulated Other Comprehensive Loss) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Other comprehensive income (loss), before tax $ (2,142) $ (790)
Other comprehensive income (loss), tax effect 509 186
Other comprehensive income (loss), net of tax (1,633) (604)
Investment securities    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Net unrealized gains (losses) arising during the period, before tax (2,120) (736)
Net unrealized gains (losses) arising during the period, tax 503 174
Net unrealized gains (losses) arising during the period, net of tax (1,617) (562)
Net realized gains reclassified to income from continuing operations, before tax 18 32
Net realized gains reclassified to income from continuing operations, tax (4) (7)
Net realized gains reclassified to income from continuing operations, net of tax 14 25
Other comprehensive income (loss), before tax (2,138) (768)
Other comprehensive income (loss), tax effect 507 181
Other comprehensive income (loss), net of tax (1,631) (587)
Translation adjustments and net investment hedges    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Other comprehensive income (loss), before tax 3 3
Other comprehensive income (loss), tax effect 0 (1)
Other comprehensive income (loss), net of tax 3 2
Net investment hedges    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Other comprehensive income (loss), before tax (3) (2)
Other comprehensive income (loss), tax effect 1 1
Other comprehensive income (loss), net of tax (2) (1)
Cash flow hedges    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Net realized gains reclassified to income from continuing operations, before tax 6 21
Net realized gains reclassified to income from continuing operations, tax (1) (4)
Net realized gains reclassified to income from continuing operations, net of tax 5 17
Defined benefit pension plans    
Accumulated Other Comprehensive Income (Loss) [Line Items]    
Other comprehensive income (loss), before tax 2 (2)
Other comprehensive income (loss), tax effect 0 1
Other comprehensive income (loss), net of tax $ 2 $ (1)
v3.22.1
Earnings per Common Share (Schedule of Basic and Diluted Earnings per Common Share) (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Class of Stock [Line Items]    
Net income from continuing operations [1] $ 655 $ 796
Net income from continuing operations attributable to common stockholders [1] 627 796
Net income attributable to common stockholders [1] $ 627 $ 796
Basic weighted-average common shares outstanding [1],[2] 335,678 375,229
Diluted weighted-average common shares outstanding [1],[2] 337,812 377,529
Basic earnings per common share    
Net income from continuing operations (in dollars per share) [1] $ 1.87 $ 2.12
Net income (in dollars per share) [1] 1.87 2.12
Diluted earnings per common share    
Net income from continuing operations (in dollars per share) [1] 1.86 2.11
Net income (in dollars per share) [1] $ 1.86 $ 2.11
Series B Preferred Stock    
Class of Stock [Line Items]    
Preferred stock dividends [1] $ (16) $ 0
Series C Preferred Stock    
Class of Stock [Line Items]    
Preferred stock dividends [1] $ (12) $ 0
[1] Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers.
[2] Includes shares related to share-based compensation that vested but were not yet issued.
v3.22.1
Regulatory Capital and Other Regulatory Matters (Schedule of Regulatory Capital Amount and Ratios) (Details)
$ in Millions
Mar. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
BHC enhanced prudential standards, minimum $ 100,000  
BHC enhanced prudential standards, maximum 250,000  
Average wSTWF exemption threshold $ 50,000  
Minimum capital conservation buffer 0.025  
Brokered deposits $ 4,000  
Percentage of interest-bearing domestic deposits to deposits, brokered 2.80%  
Accounting Standards Update 2016-13    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Phase-in of capital impact of Accounting Standards Update 2016-13 25.00%  
CECL scaling factor 25.00%  
Deferred reduction to Common Equity Tier 1 Capital from CECL $ 887  
Ally Financial Inc    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Common equity tier one capital ratio 0.0997 0.1034
Minimum capital conservation buffer 0.035 0.035
Common equity tier one capital $ 14,849 $ 15,143
Tier one capital to risk-weighted assets, amount $ 17,124 $ 17,403
Tier one capital to risk-weighted assets, ratio 0.1149 0.1189
Tier one capital to risk-weighted assets, well-capitalized minimum 0.0600  
Capital to risk-weighted assets, amount $ 19,564 $ 19,724
Capital to risk-weighted assets, ratio 0.1313 0.1347
Capital to risk weighted assets, well-capitalzed minimum 0.1000  
Tier one leverage to adjusted quarterly average assets, amount $ 17,124 $ 17,403
Tier one leverage to adjusted quarterly average assets, ratio 0.0936 0.0967
Ally Bank    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Common equity tier one capital ratio 0.1209 0.1239
Minimum capital conservation buffer 0.025 0.025
Common equity tier one capital $ 17,220 $ 17,253
Common equity tier one capital, well capitalized minimum 0.0650  
Tier one capital to risk-weighted assets, amount $ 17,220 $ 17,253
Tier one capital to risk-weighted assets, ratio 0.1209 0.1239
Tier one capital to risk-weighted assets, well-capitalized minimum 0.0800  
Capital to risk-weighted assets, amount $ 19,006 $ 18,995
Capital to risk-weighted assets, ratio 0.1334 0.1364
Capital to risk weighted assets, well-capitalzed minimum 0.1000  
Tier one leverage to adjusted quarterly average assets, amount $ 17,220 $ 17,253
Tier one leverage to adjusted quarterly average assets, ratio 0.0993 0.1012
Tier one leverage to adjusted quarterly average assets, well-capitalized minimum 0.0500  
Minimum    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Common equity tier one capital ratio 0.045  
Tier one capital to risk-weighted assets, required minimum 0.06  
Capital to risk-weighted assets, required minimum 0.08  
Tier one leverage ratio, minimum 0.04  
Minimum | Ally Financial Inc    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Common equity tier one capital ratio 0.0450  
Tier one capital to risk-weighted assets, required minimum 0.0600  
Capital to risk-weighted assets, required minimum 0.0800  
Tier one leverage ratio, minimum 0.0400  
Minimum | Ally Bank    
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]    
Common equity tier one capital ratio 0.0450  
Tier one capital to risk-weighted assets, required minimum 0.0600  
Capital to risk-weighted assets, required minimum 0.0800  
Tier one leverage ratio, minimum 0.0400  
v3.22.1
Regulatory Capital and Other Regulatory Matters (Common Share Repurchases) (Details) - USD ($)
 3 Months Ended
Apr. 13, 2022
Mar. 31, 2022
Dec. 31, 2021
Jun. 30, 2021
Mar. 31, 2021
Jan. 10, 2022
Sep. 30, 2021
Jul. 12, 2021
Jan. 11, 2021
Dec. 31, 2020
Accelerated Share Repurchases [Line Items]                    
Cash dividends declared per common share (in dollars per share)   $ 0.30 [1] $ 0.25   $ 0.19 [1]          
Treasury stock, common, amount   $ 584,000,000 $ 594,000,000 $ 502,000,000 $ 219,000,000   $ 679,000,000      
Treasury stock, common, shares (in shares)   12,548,000 12,046,000 9,641,000 5,276,000   13,055,000      
Common stock, shares outstanding (in shares)   327,306,298 337,940,636 362,639,000 371,805,000   349,599,000     374,674,000
Dividends declared (in dollars per share)   $ 0.30 $ 0.25 $ 0.19 $ 0.19   $ 0.25      
Common stock                    
Accelerated Share Repurchases [Line Items]                    
Stock repurchase program, authorized amount           $ 2,000,000,000   $ 2,000,000,000 $ 1,600,000,000  
Cash dividends declared per common share (in dollars per share)   $ 0.30                
Common stock | Subsequent event                    
Accelerated Share Repurchases [Line Items]                    
Cash dividends declared per common share (in dollars per share) $ 0.30                  
Dividends payable, date declared Apr. 13, 2022                  
Dividends payable, date to be paid May 16, 2022                  
Dividends payable, date of record May 02, 2022                  
Series B Preferred Stock                    
Accelerated Share Repurchases [Line Items]                    
Gross proceeds from issuance of series preferred stock       $ 1,350,000,000            
Series C Preferred Stock                    
Accelerated Share Repurchases [Line Items]                    
Gross proceeds from issuance of series preferred stock       $ 1,000,000,000            
[1] Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers.
v3.22.1
Derivative Instruments and Hedging Activities (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]    
Cash collateral placed with counterparties $ 6 $ 2
Noncash collateral placed with counterparties 260 203
Cash collateral received from counterparties $ 13 $ 4
v3.22.1
Derivative Instruments and Hedging Activities (Fair Value Amounts of Derivative Instruments Reported on our Condensed Consolidated Balance Sheet) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position $ 8 $ 7
Fair value of derivative contracts in payable position 73 62
Derivative, notional amount 21,361 18,169
Credit derivative, maximum exposure, undiscounted 116 119
Designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position 0 0
Fair value of derivative contracts in payable position 3 2
Derivative, notional amount 20,203 17,210
Not designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position 8 7
Fair value of derivative contracts in payable position 70 60
Derivative, notional amount 1,158 959
Interest rate contracts | Not designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position 5 6
Fair value of derivative contracts in payable position 7 2
Derivative, notional amount 717 803
Interest rate swaps | Designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position 0 0
Fair value of derivative contracts in payable position 0 0
Derivative, notional amount 20,043 17,039
Interest rate futures and forwards | Not designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position 2 1
Fair value of derivative contracts in payable position 0 0
Derivative, notional amount 328 223
Interest rate written options | Not designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position 3 5
Fair value of derivative contracts in payable position 7 2
Derivative, notional amount 389 580
Foreign exchange contracts | Not designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position 0 0
Fair value of derivative contracts in payable position 2 1
Derivative, notional amount 439 154
Foreign exchange forwards | Designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position 0 0
Fair value of derivative contracts in payable position 3 2
Derivative, notional amount 160 171
Foreign exchange futures and forwards | Not designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position 0 0
Fair value of derivative contracts in payable position 2 1
Derivative, notional amount 439 154
Other credit derivatives | Not designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position 0 0
Fair value of derivative contracts in payable position 57 56
Equity contracts | Not designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position 3 1
Fair value of derivative contracts in payable position 4 1
Derivative, notional amount 2 2
Equity contract written options | Not designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position 0 0
Fair value of derivative contracts in payable position 4 1
Derivative, notional amount 2 2
Purchased Options | Not designated as hedging instrument    
Derivatives, Fair Value [Line Items]    
Fair value of derivative contracts in receivable position 3 1
Fair value of derivative contracts in payable position 0 0
Derivative, notional amount $ 0 $ 0
v3.22.1
Derivative Instruments and Hedging Activities (Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Available-for-sale securities    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Hedged asset, fair value hedge $ 5,405 $ 5,119
Hedged asset, fair value hedge, cumulative increase (decrease) (59) (14)
Closed portfolio and beneficial interest, last-of-layer, amortized cost 4,100 3,900
Hedge basis adjustment, last-of-layer increase (decrease) (44) (6)
Hedged asset, last-of-layer, amount 2,000 1,200
Available-for-sale securities | Designated as hedging instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Hedge basis adjustment, last-of-layer increase (decrease) 10 14
Finance receivables and loans, net    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Hedged asset, fair value hedge 43,485 44,098
Hedged asset, fair value hedge, cumulative increase (decrease) (350) (37)
Hedge basis adjustment, last-of-layer increase (decrease) (350) (37)
Hedged asset, last-of-layer, amount 17,600 15,600
Finance receivables and loans, net | Designated as hedging instrument    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Hedge basis adjustment, last-of-layer increase (decrease) (386) (82)
Long-term debt    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Hedged liability, fair value hedge 7,190 7,213
Hedged liability, fair value hedge, cumulative increase (decrease) 112 110
Discontinued hedge | Available-for-sale securities    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Hedged asset, discontinued fair value hedge, cumulative increase (decrease) (68) (30)
Hedge basis adjustment, last-of-layer increase (decrease) (54) (20)
Discontinued hedge | Finance receivables and loans, net    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Hedged asset, discontinued fair value hedge, cumulative increase (decrease) 36 46
Hedge basis adjustment, last-of-layer increase (decrease) 36 46
Discontinued hedge | Long-term debt    
Derivative Instruments and Hedging Activities Disclosures [Line Items]    
Hedged liability, discontinued fair value hedge, cumulative increase (decrease) $ 110 $ 110
v3.22.1
Derivative Instruments and Hedging Activities (Statement of Gains and Losses on Derivative Instruments Reported in Statement of Comprehensive Income) (Details) - Not designated as hedging instrument - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on derivative instruments recognized in earnings $ (3) $ (17)
Interest rate contracts    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on derivative instruments recognized in earnings 1 (7)
Foreign exchange contracts    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on derivative instruments recognized in earnings (3) (2)
Other credit derivatives    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on derivative instruments recognized in earnings (1) (8)
Loss on mortgage and automotive loans, net | Interest rate contracts    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on derivative instruments recognized in earnings (2) (7)
Other income, net of losses | Interest rate contracts    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on derivative instruments recognized in earnings 3 0
Other income, net of losses | Other credit derivatives    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on derivative instruments recognized in earnings (1) (8)
Other operating expenses | Foreign exchange contracts    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on derivative instruments recognized in earnings $ (3) $ (2)
v3.22.1
Derivative Instruments and Hedging Activities (Derivative Instruments Designated as Fair Value Hedges, Gain (Loss)) (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]    
Interest and fees on finance receivables and loans $ 1,714 $ 1,582
Interest and dividends on investment securities and other earning assets 188 131
Interest on deposits 211 306
Interest on long-term debt 185 250
Earnings on cash flow hedges to be recognized within twelve months 20  
Designated as hedging instrument | Interest and fees on finance receivables and loans    
Derivative Instruments, Gain (Loss) [Line Items]    
Total gain on fair value hedging relationships 0 0
Total gain (loss) on cash flow hedging relationships 6 22
Designated as hedging instrument | Interest and dividends on investment securities and other earning assets    
Derivative Instruments, Gain (Loss) [Line Items]    
Total gain on fair value hedging relationships 0 0
Total gain (loss) on cash flow hedging relationships 0 0
Designated as hedging instrument | Interest on deposits    
Derivative Instruments, Gain (Loss) [Line Items]    
Total gain on fair value hedging relationships 0 0
Total gain (loss) on cash flow hedging relationships 0 (1)
Designated as hedging instrument | Interest on long-term debt    
Derivative Instruments, Gain (Loss) [Line Items]    
Total gain on fair value hedging relationships 0 0
Total gain (loss) on cash flow hedging relationships 0 0
Designated as hedging instrument | Unsecured debt | Interest and fees on finance receivables and loans    
Derivative Instruments, Gain (Loss) [Line Items]    
Change in unrealized gain (loss) on hedged item in fair value hedge 0 0
Change in unrealized gain (loss) on fair value hedging instruments 0 0
Designated as hedging instrument | Unsecured debt | Interest and dividends on investment securities and other earning assets    
Derivative Instruments, Gain (Loss) [Line Items]    
Change in unrealized gain (loss) on hedged item in fair value hedge 0 0
Change in unrealized gain (loss) on fair value hedging instruments 0 0
Designated as hedging instrument | Unsecured debt | Interest on deposits    
Derivative Instruments, Gain (Loss) [Line Items]    
Change in unrealized gain (loss) on hedged item in fair value hedge 0 0
Change in unrealized gain (loss) on fair value hedging instruments 0 0
Designated as hedging instrument | Unsecured debt | Interest on long-term debt    
Derivative Instruments, Gain (Loss) [Line Items]    
Change in unrealized gain (loss) on hedged item in fair value hedge (2) 139
Change in unrealized gain (loss) on fair value hedging instruments 2 (139)
Designated as hedging instrument | Available-for-sale securities | Interest and fees on finance receivables and loans    
Derivative Instruments, Gain (Loss) [Line Items]    
Change in unrealized gain (loss) on hedged item in fair value hedge 0 0
Change in unrealized gain (loss) on fair value hedging instruments 0 0
Designated as hedging instrument | Available-for-sale securities | Interest and dividends on investment securities and other earning assets    
Derivative Instruments, Gain (Loss) [Line Items]    
Change in unrealized gain (loss) on hedged item in fair value hedge (42) (13)
Change in unrealized gain (loss) on fair value hedging instruments 42 13
Designated as hedging instrument | Available-for-sale securities | Interest on deposits    
Derivative Instruments, Gain (Loss) [Line Items]    
Change in unrealized gain (loss) on hedged item in fair value hedge 0 0
Change in unrealized gain (loss) on fair value hedging instruments 0 0
Designated as hedging instrument | Available-for-sale securities | Interest on long-term debt    
Derivative Instruments, Gain (Loss) [Line Items]    
Change in unrealized gain (loss) on hedged item in fair value hedge 0 0
Change in unrealized gain (loss) on fair value hedging instruments 0 0
Designated as hedging instrument | Fixed-rate automotive loans | Interest and fees on finance receivables and loans    
Derivative Instruments, Gain (Loss) [Line Items]    
Change in unrealized gain (loss) on hedged item in fair value hedge (304) (39)
Change in unrealized gain (loss) on fair value hedging instruments 304 39
Designated as hedging instrument | Fixed-rate automotive loans | Interest and dividends on investment securities and other earning assets    
Derivative Instruments, Gain (Loss) [Line Items]    
Change in unrealized gain (loss) on hedged item in fair value hedge 0 0
Change in unrealized gain (loss) on fair value hedging instruments 0 0
Designated as hedging instrument | Fixed-rate automotive loans | Interest on deposits    
Derivative Instruments, Gain (Loss) [Line Items]    
Change in unrealized gain (loss) on hedged item in fair value hedge 0 0
Change in unrealized gain (loss) on fair value hedging instruments 0 0
Designated as hedging instrument | Fixed-rate automotive loans | Interest on long-term debt    
Derivative Instruments, Gain (Loss) [Line Items]    
Change in unrealized gain (loss) on hedged item in fair value hedge 0 0
Change in unrealized gain (loss) on fair value hedging instruments 0 0
Designated as hedging instrument | Deposit liabilities | Interest and fees on finance receivables and loans    
Derivative Instruments, Gain (Loss) [Line Items]    
Interest rate cash flow hedge gain (loss) reclassified to earnings 0 0
Designated as hedging instrument | Deposit liabilities | Interest and dividends on investment securities and other earning assets    
Derivative Instruments, Gain (Loss) [Line Items]    
Interest rate cash flow hedge gain (loss) reclassified to earnings 0 0
Designated as hedging instrument | Deposit liabilities | Interest on deposits    
Derivative Instruments, Gain (Loss) [Line Items]    
Interest rate cash flow hedge gain (loss) reclassified to earnings 0 (1)
Designated as hedging instrument | Deposit liabilities | Interest on long-term debt    
Derivative Instruments, Gain (Loss) [Line Items]    
Interest rate cash flow hedge gain (loss) reclassified to earnings 0 0
Designated as hedging instrument | Variable-rate commercial loans | Interest and fees on finance receivables and loans    
Derivative Instruments, Gain (Loss) [Line Items]    
Interest rate cash flow hedge gain (loss) reclassified to earnings 6 22
Designated as hedging instrument | Variable-rate commercial loans | Interest and dividends on investment securities and other earning assets    
Derivative Instruments, Gain (Loss) [Line Items]    
Interest rate cash flow hedge gain (loss) reclassified to earnings 0 0
Designated as hedging instrument | Variable-rate commercial loans | Interest on deposits    
Derivative Instruments, Gain (Loss) [Line Items]    
Interest rate cash flow hedge gain (loss) reclassified to earnings 0 0
Designated as hedging instrument | Variable-rate commercial loans | Interest on long-term debt    
Derivative Instruments, Gain (Loss) [Line Items]    
Interest rate cash flow hedge gain (loss) reclassified to earnings $ 0 $ 0
v3.22.1
Derivative Instruments and Hedging Activities (Interest and Amortization on Derivative Instruments) (Details) - Designated as hedging instrument - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest and fees on finance receivables and loans    
Derivative Instruments, Gain (Loss) [Line Items]    
Total loss on fair value hedging relationships $ (27) $ (43)
Interest and dividends on investment securities and other earning assets    
Derivative Instruments, Gain (Loss) [Line Items]    
Total loss on fair value hedging relationships 0 (3)
Interest on long-term debt    
Derivative Instruments, Gain (Loss) [Line Items]    
Total loss on fair value hedging relationships 0 (3)
Unsecured debt | Interest and fees on finance receivables and loans    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on amortization of deferred basis adjustments 0 0
Gain (loss) on interest for qualifying hedge 0 0
Unsecured debt | Interest and dividends on investment securities and other earning assets    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on amortization of deferred basis adjustments 0 0
Gain (loss) on interest for qualifying hedge 0 0
Unsecured debt | Interest on long-term debt    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on amortization of deferred basis adjustments 1 1
Gain (loss) on interest for qualifying hedge 0 1
Federal Home Loan Bank certificates and obligations | Interest and fees on finance receivables and loans    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on amortization of deferred basis adjustments 0 0
Federal Home Loan Bank certificates and obligations | Interest and dividends on investment securities and other earning assets    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on amortization of deferred basis adjustments 0 0
Federal Home Loan Bank certificates and obligations | Interest on long-term debt    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on amortization of deferred basis adjustments (1) (5)
Available-for-sale securities | Interest and fees on finance receivables and loans    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on amortization of deferred basis adjustments 0 0
Gain (loss) on interest for qualifying hedge 0 0
Available-for-sale securities | Interest and dividends on investment securities and other earning assets    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on amortization of deferred basis adjustments 1 (2)
Gain (loss) on interest for qualifying hedge (1) (1)
Available-for-sale securities | Interest on long-term debt    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on amortization of deferred basis adjustments 0 0
Gain (loss) on interest for qualifying hedge 0 0
Fixed-rate automotive loans | Interest and fees on finance receivables and loans    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on amortization of deferred basis adjustments (9) (13)
Gain (loss) on interest for qualifying hedge (18) (30)
Fixed-rate automotive loans | Interest and dividends on investment securities and other earning assets    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on amortization of deferred basis adjustments 0 0
Gain (loss) on interest for qualifying hedge 0 0
Fixed-rate automotive loans | Interest on long-term debt    
Derivative Instruments, Gain (Loss) [Line Items]    
Gain (loss) on amortization of deferred basis adjustments 0 0
Gain (loss) on interest for qualifying hedge $ 0 $ 0
v3.22.1
Derivative Instruments and Hedging Activities (Derivative Instruments Used in Net Investment Hedge Accounting Relationships) (Details) - USD ($)
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Interest rate contracts | Cash flow hedging    
Derivative Instruments, Gain (Loss) [Line Items]    
(Loss) gain recognized in other comprehensive income, cash flow hedge, interest rate contracts $ (6,000,000) $ (21,000,000)
Foreign exchange contracts | Net investment hedging    
Derivative Instruments, Gain (Loss) [Line Items]    
(Loss) gain recognized in other comprehensive income, net investment hedge, foreign exchange contracts (3,000,000) (2,000,000)
Amounts excluded from effectiveness testing 0 0
Amounts reclassified from accumulated other comprehensive income $ 0 $ 0
v3.22.1
Income Taxes (Details) - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Income Tax Disclosure [Abstract]    
Income tax expense from continuing operations $ 191 $ 211
v3.22.1
Fair Value (Fair Value Measurements - Recurring Basis) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity securities $ 869 $ 1,102
Debt securities, available-for-sale, fair value [1] 33,385 33,587
Derivative contracts in a receivable position 5 6
Derivative contracts in a payable position $ 64 $ 59
Investment in any one industry did not exceed percentage 14.00% 8.00%
Fair value, measurements, recurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value $ 33,385 $ 33,587
Derivative contracts in a receivable position 8 7
Total assets 34,364 34,783
Derivative contracts in a payable position 73 62
Total liabilities 73 62
Fair value, measurements, recurring | Interest rate contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 7 2
Fair value, measurements, recurring | Foreign currency contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 5 3
Fair value, measurements, recurring | Credit contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 57 56
Fair value, measurements, recurring | Equity contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 4 1
Fair value, measurements, recurring | Equity securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity securities 869 1,102
Fair value, measurements, recurring | U.S. Treasury and federal agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 2,387 2,155
Fair value, measurements, recurring | U.S. States and political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 842 864
Fair value, measurements, recurring | Foreign government    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 153 157
Fair value, measurements, recurring | Agency mortgage-backed securities | Residential Mortgage    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 18,934 19,039
Fair value, measurements, recurring | Agency mortgage-backed securities | Commercial Loan    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 3,950 4,526
Fair value, measurements, recurring | Mortgage-backed residential    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 4,839 4,425
Fair value, measurements, recurring | Asset-backed    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 483 534
Fair value, measurements, recurring | Corporate debt    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 1,797 1,887
Fair value, measurements, recurring | Mortgage loans held-for-sale    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage loans held-for-sale, fair value 95 80
Fair value, measurements, recurring | Consumer other | Consumer    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 7 7
Fair value, measurements, recurring | Interest rate contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a receivable position 5 6
Fair value, measurements, recurring | Equity contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a receivable position 3 1
Fair value, measurements, recurring | Fair value, inputs, level 1    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 2,415 2,174
Derivative contracts in a receivable position 3 1
Total assets 3,286 3,268
Derivative contracts in a payable position 4 1
Total liabilities 4 1
Fair value, measurements, recurring | Fair value, inputs, level 1 | Interest rate contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 0 0
Fair value, measurements, recurring | Fair value, inputs, level 1 | Foreign currency contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 0 0
Fair value, measurements, recurring | Fair value, inputs, level 1 | Credit contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 0 0
Fair value, measurements, recurring | Fair value, inputs, level 1 | Equity contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 4 1
Fair value, measurements, recurring | Fair value, inputs, level 1 | Equity securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity securities 868 1,093
Fair value, measurements, recurring | Fair value, inputs, level 1 | U.S. Treasury and federal agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 2,387 2,155
Fair value, measurements, recurring | Fair value, inputs, level 1 | U.S. States and political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 1 | Foreign government    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 28 19
Fair value, measurements, recurring | Fair value, inputs, level 1 | Agency mortgage-backed securities | Residential Mortgage    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 1 | Agency mortgage-backed securities | Commercial Loan    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 1 | Mortgage-backed residential    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 1 | Asset-backed    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 1 | Corporate debt    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 1 | Mortgage loans held-for-sale    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage loans held-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 1 | Consumer other | Consumer    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 0 0
Fair value, measurements, recurring | Fair value, inputs, level 1 | Interest rate contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a receivable position 0 0
Fair value, measurements, recurring | Fair value, inputs, level 1 | Equity contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a receivable position 3 1
Fair value, measurements, recurring | Fair value, inputs, level 2    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 30,959 31,404
Derivative contracts in a receivable position 2 1
Total assets 31,056 31,485
Derivative contracts in a payable position 5 3
Total liabilities 5 3
Fair value, measurements, recurring | Fair value, inputs, level 2 | Interest rate contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 0 0
Fair value, measurements, recurring | Fair value, inputs, level 2 | Foreign currency contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 5 3
Fair value, measurements, recurring | Fair value, inputs, level 2 | Credit contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 0 0
Fair value, measurements, recurring | Fair value, inputs, level 2 | Equity contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 0 0
Fair value, measurements, recurring | Fair value, inputs, level 2 | Equity securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity securities 0 0
Fair value, measurements, recurring | Fair value, inputs, level 2 | U.S. Treasury and federal agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 2 | U.S. States and political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 831 855
Fair value, measurements, recurring | Fair value, inputs, level 2 | Foreign government    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 125 138
Fair value, measurements, recurring | Fair value, inputs, level 2 | Agency mortgage-backed securities | Residential Mortgage    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 18,934 19,039
Fair value, measurements, recurring | Fair value, inputs, level 2 | Agency mortgage-backed securities | Commercial Loan    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 3,950 4,526
Fair value, measurements, recurring | Fair value, inputs, level 2 | Mortgage-backed residential    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 4,839 4,425
Fair value, measurements, recurring | Fair value, inputs, level 2 | Asset-backed    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 483 534
Fair value, measurements, recurring | Fair value, inputs, level 2 | Corporate debt    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 1,797 1,887
Fair value, measurements, recurring | Fair value, inputs, level 2 | Mortgage loans held-for-sale    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage loans held-for-sale, fair value 95 80
Fair value, measurements, recurring | Fair value, inputs, level 2 | Consumer other | Consumer    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 0 0
Fair value, measurements, recurring | Fair value, inputs, level 2 | Interest rate contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a receivable position 2 1
Fair value, measurements, recurring | Fair value, inputs, level 2 | Equity contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a receivable position 0 0
Fair value, measurements, recurring | Fair value, inputs, level 3    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 11 9
Derivative contracts in a receivable position 3 5
Total assets 22 30
Derivative contracts in a payable position 64 58
Total liabilities 64 58
Fair value, measurements, recurring | Fair value, inputs, level 3 | Interest rate contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 7 2
Fair value, measurements, recurring | Fair value, inputs, level 3 | Foreign currency contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 0 0
Fair value, measurements, recurring | Fair value, inputs, level 3 | Credit contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 57 56
Fair value, measurements, recurring | Fair value, inputs, level 3 | Equity contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a payable position 0 0
Fair value, measurements, recurring | Fair value, inputs, level 3 | Equity securities    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Equity securities 1 9
Fair value, measurements, recurring | Fair value, inputs, level 3 | U.S. Treasury and federal agencies    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 3 | U.S. States and political subdivisions    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 11 9
Fair value, measurements, recurring | Fair value, inputs, level 3 | Foreign government    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 3 | Agency mortgage-backed securities | Residential Mortgage    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 3 | Agency mortgage-backed securities | Commercial Loan    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 3 | Mortgage-backed residential    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 3 | Asset-backed    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 3 | Corporate debt    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt securities, available-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 3 | Mortgage loans held-for-sale    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Mortgage loans held-for-sale, fair value 0 0
Fair value, measurements, recurring | Fair value, inputs, level 3 | Consumer other | Consumer    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 7 7
Fair value, measurements, recurring | Fair value, inputs, level 3 | Interest rate contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a receivable position 3 5
Fair value, measurements, recurring | Fair value, inputs, level 3 | Equity contracts    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Derivative contracts in a receivable position $ 0 $ 0
[1] Refer to Note 7 for discussion of cash and cash equivalents and investment securities pledged as collateral.
v3.22.1
Fair Value (Fair Value Measurements - Reconciliation of Level 3 Assets And Liabilities) (Details) - Fair value, measurements, recurring - USD ($)
$ in Millions
 3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Derivative liabilities, net of derivative assets    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value, measurement, recurring, asset, transfers into level 3 $ 0 $ 0
Fair value, measurement, recurring, transfers out of level 3 0 0
Fair value, assets measured on recurring basis, change in unrealized gain (loss) included in other comprehensive income 0 0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability value, beginning balance 53 12
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability, gain (loss) included in earnings 8 15
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability, gain (loss) included in other comprehensive income (loss) 0 0
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability, purchases 0 0
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability, sales 0 0
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability, issuances 0 1
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability, settlements 0 0
Fair value, measurement, recurring, asset, transfers into level 3 0 0
Fair value, measurement, recurring, transfers out of level 3 0 0
Fair value, measurement with unobservable inputs reconciliation, recurring basis, liability value, ending balance 61 28
Fair value, assets measured on recurring basis, change in unrealized gain (loss) included in earnings 5 15
Fair value, liabilities measured on recurring basis, change in unrealized gain (loss) included in other comprehensive income 0 0
Equity securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value, measurement, recurring, asset value, beginning balance 9 7
Fair value, measurement, recurring, asset, gain (loss) included in earnings 1 4
Fair value, measurement, recurring, asset, gain (loss) included in other comprehensive income (loss) 0 0
Fair value, measurement, recurring, asset, purchases 0 0
Fair value, measurement, recurring, asset, sales (9) 0
Fair value, measurement, recurring, asset, issuances 0 0
Fair value, measurement, recurring, asset, settlements 0 0
Fair value, measurement, recurring, asset, transfers into level 3 0 0
Fair value, measurement, recurring, transfers out of level 3 0 0
Fair value, measurement, recurring, asset value, ending balance 1 11
Fair value, assets, recurring, net unrealized gains (losses) included in earnings 0 4
Fair value, assets measured on recurring basis, change in unrealized gain (loss) included in other comprehensive income 0 0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value, measurement, recurring, asset, transfers into level 3 0 0
Fair value, measurement, recurring, transfers out of level 3 0 0
Fair value, liabilities measured on recurring basis, change in unrealized gain (loss) included in other comprehensive income 0 0
Available-for-sale securities    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value, measurement, recurring, asset value, beginning balance 9 7
Fair value, measurement, recurring, asset, gain (loss) included in earnings 0 0
Fair value, measurement, recurring, asset, gain (loss) included in other comprehensive income (loss) 0 0
Fair value, measurement, recurring, asset, purchases 2 0
Fair value, measurement, recurring, asset, sales 0 0
Fair value, measurement, recurring, asset, issuances 0 0
Fair value, measurement, recurring, asset, settlements 0 0
Fair value, measurement, recurring, asset, transfers into level 3 0 0
Fair value, measurement, recurring, transfers out of level 3 0 0
Fair value, measurement, recurring, asset value, ending balance 11 7
Fair value, assets, recurring, net unrealized gains (losses) included in earnings 0 0
Fair value, assets measured on recurring basis, change in unrealized gain (loss) included in other comprehensive income 0 0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value, measurement, recurring, asset, transfers into level 3 0 0
Fair value, measurement, recurring, transfers out of level 3 0 0
Fair value, liabilities measured on recurring basis, change in unrealized gain (loss) included in other comprehensive income 0 0
Mortgage loans held-for-sale    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value, measurement, recurring, asset value, beginning balance 0 91
Fair value, measurement, recurring, asset, gain (loss) included in earnings 0 28
Fair value, measurement, recurring, asset, gain (loss) included in other comprehensive income (loss) 0 0
Fair value, measurement, recurring, asset, purchases 0 1,039
Fair value, measurement, recurring, asset, sales 0 (1,012)
Fair value, measurement, recurring, asset, issuances 0 0
Fair value, measurement, recurring, asset, settlements 0 0
Fair value, measurement, recurring, asset, transfers into level 3 0 0
Fair value, measurement, recurring, transfers out of level 3 0 0
Fair value, measurement, recurring, asset value, ending balance 0 146
Fair value, assets, recurring, net unrealized gains (losses) included in earnings 0 1
Fair value, assets measured on recurring basis, change in unrealized gain (loss) included in other comprehensive income 0 0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value, measurement, recurring, asset, transfers into level 3 0 0
Fair value, measurement, recurring, transfers out of level 3 0 0
Fair value, liabilities measured on recurring basis, change in unrealized gain (loss) included in other comprehensive income 0 0
Finance receivables and loans, net | Consumer Loan    
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value, measurement, recurring, asset value, beginning balance 7 8
Fair value, measurement, recurring, asset, gain (loss) included in earnings (1) 2
Fair value, measurement, recurring, asset, gain (loss) included in other comprehensive income (loss) 0 0
Fair value, measurement, recurring, asset, purchases 4 4
Fair value, measurement, recurring, asset, sales 0 0
Fair value, measurement, recurring, asset, issuances 0 0
Fair value, measurement, recurring, asset, settlements (3) (6)
Fair value, measurement, recurring, asset, transfers into level 3 0 0
Fair value, measurement, recurring, transfers out of level 3 0 0
Fair value, measurement, recurring, asset value, ending balance 7 8
Fair value, assets, recurring, net unrealized gains (losses) included in earnings (1) 0
Fair value, assets measured on recurring basis, change in unrealized gain (loss) included in other comprehensive income 0 0
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]    
Fair value, measurement, recurring, asset, transfers into level 3 0 0
Fair value, measurement, recurring, transfers out of level 3 0 0
Fair value, liabilities measured on recurring basis, change in unrealized gain (loss) included in other comprehensive income $ 0 $ 0
v3.22.1
Fair Value (Fair Value Measurements - Nonrecurring Basis) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans held-for-sale, net $ 471 $ 549
Finance receivables and loans, net 122,064 119,001
Assets | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total assets 481 595
Lower of cost or fair value, valuation reserve, or cumulative adjustments (87) (70)
Mortgage loans held-for-sale | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans held-for-sale, net 376 468
Lower of cost or fair value, valuation reserve, or cumulative adjustments 0 0
Nonmarketable equity investments | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 13 7
Lower of cost or fair value, valuation reserve, or cumulative adjustments (2) (5)
Repossessed and foreclosed assets | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 4 4
Lower of cost or fair value, valuation reserve, or cumulative adjustments 0 0
Fair value, inputs, level 1 | Assets | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total assets 0 0
Fair value, inputs, level 1 | Mortgage loans held-for-sale | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans held-for-sale, net 0 0
Fair value, inputs, level 1 | Nonmarketable equity investments | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 0 0
Fair value, inputs, level 1 | Repossessed and foreclosed assets | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 0 0
Fair value, inputs, level 2 | Assets | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total assets 0 0
Fair value, inputs, level 2 | Mortgage loans held-for-sale | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans held-for-sale, net 0 0
Fair value, inputs, level 2 | Nonmarketable equity investments | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 0 0
Fair value, inputs, level 2 | Repossessed and foreclosed assets | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 0 0
Fair value, inputs, level 3 | Assets | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Total assets 481 595
Fair value, inputs, level 3 | Mortgage loans held-for-sale | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans held-for-sale, net 376 468
Fair value, inputs, level 3 | Nonmarketable equity investments | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 13 7
Fair value, inputs, level 3 | Repossessed and foreclosed assets | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Other assets 4 4
Commercial | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 88 116
Lower of cost or fair value, valuation reserve, or cumulative adjustments (85) (65)
Commercial | Fair value, inputs, level 1 | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 0 0
Commercial | Fair value, inputs, level 2 | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 0 0
Commercial | Fair value, inputs, level 3 | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 88 116
Automotive loan | Commercial | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 1 4
Lower of cost or fair value, valuation reserve, or cumulative adjustments 0 0
Automotive loan | Commercial | Fair value, inputs, level 1 | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 0 0
Automotive loan | Commercial | Fair value, inputs, level 2 | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 0 0
Automotive loan | Commercial | Fair value, inputs, level 3 | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 1 4
Other | Commercial | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 87 112
Lower of cost or fair value, valuation reserve, or cumulative adjustments (85) (65)
Other | Commercial | Fair value, inputs, level 1 | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 0 0
Other | Commercial | Fair value, inputs, level 2 | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net 0 0
Other | Commercial | Fair value, inputs, level 3 | Fair Value, measurements, nonrecurring    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Finance receivables and loans, net $ 87 $ 112
v3.22.1
Fair Value (Fair Value, by Balance Sheet Grouping) (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Held-to-maturity securities $ 1,159 $ 1,170
Loans held-for-sale, net 471 549
Finance receivables and loans, net 122,064 119,001
Deposit liabilities 142,475 141,558
Short-term borrowings 3,950 0
Long-term debt 15,885 17,029
Carrying value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Held-to-maturity securities 1,159 1,170
Loans held-for-sale, net 376 469
Finance receivables and loans, net 122,057 118,994
FHLB/FRB stock 856 738
Deposit liabilities 37,889 40,953
Short-term borrowings 3,950  
Long-term debt 15,885 17,029
Estimated fair value    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Held-to-maturity securities 1,106 1,204
Loans held-for-sale, net 376 469
Finance receivables and loans, net 126,765 126,044
FHLB/FRB stock 856 738
Deposit liabilities 37,793 41,164
Short-term borrowings 3,950  
Long-term debt 17,505 19,529
Estimated fair value | Fair value, inputs, level 1    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Held-to-maturity securities 0 0
Loans held-for-sale, net 0 0
Finance receivables and loans, net 0 0
FHLB/FRB stock 0 0
Deposit liabilities 0 0
Short-term borrowings 0  
Long-term debt 0 0
Estimated fair value | Fair value, inputs, level 2    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Held-to-maturity securities 1,106 1,204
Loans held-for-sale, net 0 0
Finance receivables and loans, net 0 0
FHLB/FRB stock 856 738
Deposit liabilities 0 0
Short-term borrowings 0  
Long-term debt 10,991 12,637
Estimated fair value | Fair value, inputs, level 3    
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]    
Held-to-maturity securities 0 0
Loans held-for-sale, net 376 469
Finance receivables and loans, net 126,765 126,044
FHLB/FRB stock 0 0
Deposit liabilities 37,793 41,164
Short-term borrowings 3,950  
Long-term debt $ 6,514 $ 6,892
v3.22.1
Offsetting Assets and Liabilities (Details) - USD ($)
$ in Millions
Mar. 31, 2022
Dec. 31, 2021
Offsetting Assets [Line Items]    
Derivative asset, Gross amounts offset on the Condensed Consolidated Balance Sheet $ 0 $ 0
Derivative asset, Gross amounts not offset on the Condensed Consolidated Balance Sheet, Financial instruments (3) (1)
Derivative asset, Gross amounts not offset on the Condensed Consolidated Balance Sheet, Collateral 0 0
Derivative assets with no offsetting arrangements 5 6
Total assets, Gross amounts of recognized assets/liabilities 8 7
Total assets, Net amounts of assets/liabilities presented on the Condensed Consolidated Balance Sheet 8 7
Total assets, Net amount 5 6
Derivative liabilities, Gross amounts offset on the Condensed Consolidated Balance Sheet 0 0
Derivative liabilities, Gross amounts not offset on the Condensed Consolidated Balance Sheet, Financial instruments (3) (1)
Derivative liabilities, Gross amounts not offset on the Condensed Consolidated Balance Sheet, Collateral (6) (2)
Derivative liabilities with no offsetting arrangements 64 58
Total liabilities, Gross amounts of recognized assets/liabilities 73 62
Total liabilities, Net amounts of assets/liabilities presented on the Condensed Consolidated Balance Sheet 73 62
Total liabilities, Net amount 64 59
Derivative Assets Net Asset Position    
Offsetting Assets [Line Items]    
Derivative asset, Gross amounts of recognized assets/liabilities   1
Derivative asset, Gross amounts offset on the Condensed Consolidated Balance Sheet   0
Net amounts of assets presented on the Consolidated Balance Sheet   1
Derivative asset, Gross amounts not offset on the Condensed Consolidated Balance Sheet, Financial instruments   (1)
Derivative asset, Gross amounts not offset on the Condensed Consolidated Balance Sheet, Collateral   0
Derivative assets, Net amount   0
Derivative Liabilities Net Liability Position    
Offsetting Assets [Line Items]    
Derivative liabilities, Gross amounts of recognized assets/liabilities 9 3
Derivative liabilities, Gross amounts offset on the Condensed Consolidated Balance Sheet 0 0
Net amounts of liabilities presented on the Consolidated Balance Sheet 9 3
Derivative liabilities, Gross amounts not offset on the Condensed Consolidated Balance Sheet, Financial instruments (3) 0
Derivative liabilities, Gross amounts not offset on the Condensed Consolidated Balance Sheet, Collateral (6) (2)
Derivative liabilities, Net amount 0 1
Derivative Liabilities Net Asset Position    
Offsetting Assets [Line Items]    
Derivative liabilities, Gross amounts of recognized assets/liabilities   1
Derivative liabilities, Gross amounts offset on the Condensed Consolidated Balance Sheet   0
Net amounts of liabilities presented on the Consolidated Balance Sheet   1
Derivative liabilities, Gross amounts not offset on the Condensed Consolidated Balance Sheet, Financial instruments   (1)
Derivative liabilities, Gross amounts not offset on the Condensed Consolidated Balance Sheet, Collateral   0
Derivative liabilities, Net amount   $ 0
Derivative Asset Net Liability Position    
Offsetting Assets [Line Items]    
Derivative asset, Gross amounts of recognized assets/liabilities 3  
Derivative asset, Gross amounts offset on the Condensed Consolidated Balance Sheet 0  
Net amounts of assets presented on the Consolidated Balance Sheet 3  
Derivative asset, Gross amounts not offset on the Condensed Consolidated Balance Sheet, Financial instruments (3)  
Derivative asset, Gross amounts not offset on the Condensed Consolidated Balance Sheet, Collateral 0  
Derivative assets, Net amount $ 0  
v3.22.1
Segment Information (Details)
$ in Millions
 3 Months Ended
Mar. 31, 2022
USD ($)
segment
Mar. 31, 2021
USD ($)
Dec. 31, 2021
USD ($)
Segment Reporting Information [Line Items]      
Number of operating segments | segment 4    
Net financing revenue and other interest income $ 1,693 $ 1,372  
Other revenue 442 565  
Total net revenue 2,135 1,937  
Provision for credit losses 167 (13)  
Total noninterest expense 1,122 943  
Income from continuing operations before income tax expense 846 1,007  
Total assets 184,297 181,879 $ 182,114
Net financing revenue and other interest income after the provision for credit losses 1,500 1,400  
Operating Segments | Automotive Finance operations      
Segment Reporting Information [Line Items]      
Net financing revenue and other interest income 1,295 1,206  
Other revenue 68 62  
Total net revenue 1,363 1,268  
Provision for credit losses 104 (22)  
Total noninterest expense 534 487  
Income from continuing operations before income tax expense 725 803  
Total assets 105,754 101,566  
Operating Segments | Insurance operations      
Segment Reporting Information [Line Items]      
Net financing revenue and other interest income 17 15  
Other revenue 270 379  
Total net revenue 287 394  
Provision for credit losses 0 0  
Total noninterest expense 274 253  
Income from continuing operations before income tax expense 13 141  
Total assets 9,220 9,221  
Operating Segments | Mortgage Finance operations      
Segment Reporting Information [Line Items]      
Net financing revenue and other interest income 53 23  
Other revenue 14 40  
Total net revenue 67 63  
Provision for credit losses 0 (4)  
Total noninterest expense 56 44  
Income from continuing operations before income tax expense 11 23  
Total assets 18,596 12,923  
Operating Segments | Corporate Finance operations      
Segment Reporting Information [Line Items]      
Net financing revenue and other interest income 83 71  
Other revenue 24 26  
Total net revenue 107 97  
Provision for credit losses 6 13  
Total noninterest expense 37 31  
Income from continuing operations before income tax expense 64 53  
Total assets 8,086 6,421  
Corporate and Other      
Segment Reporting Information [Line Items]      
Net financing revenue and other interest income 245 57  
Other revenue 66 58  
Total net revenue 311 115  
Provision for credit losses 57 0  
Total noninterest expense 221 128  
Income from continuing operations before income tax expense 33 (13)  
Total assets $ 42,641 $ 51,748  
v3.22.1
Subsequent Events (Details) - $ / shares
 3 Months Ended
Apr. 13, 2022
Mar. 31, 2022
Dec. 31, 2021
Mar. 31, 2021
 [1]
Subsequent Event [Line Items]        
Cash dividends declared per common share (in dollars per share)   $ 0.30 [1] $ 0.25 $ 0.19
Common stock        
Subsequent Event [Line Items]        
Cash dividends declared per common share (in dollars per share)   $ 0.30    
Subsequent event | Common stock        
Subsequent Event [Line Items]        
Dividends payable, date declared Apr. 13, 2022      
Cash dividends declared per common share (in dollars per share) $ 0.30      
Dividends payable, date to be paid May 16, 2022      
Dividends payable, date of record May 02, 2022      
[1] Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers.