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v3.20.2

Debt (Tables) | 6 Months Ended
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Jun. 30, 2020
Debt Disclosure [Abstract] |
Schedule of Short-term Debt | The following table presents the composition of our short-term borrowings portfolio.
|  | June 30, 2020 |  | December 31, 2019
($ in millions) |  | Unsecured |  | Secured (a) |  | Total |  | Unsecured |  | Secured (a) |  | Total
Demand notes |  | $ | 2,510 |  |  | $ | — |  |  | $ | 2,510 |  |  | $ | 2,581 |  |  | $ | — |  |  | $ | 2,581 |
Federal Home Loan Bank |  | — |  |  | 1,100 |  |  | 1,100 |  |  | — |  |  | 2,950 |  |  | 2,950 |
Securities sold under agreements to repurchase |  | — |  |  | 79 |  |  | 79 |  |  | — |  |  | — |  |  | — |
Total short-term borrowings |  | $ | 2,510 |  |  | $ | 1,179 |  |  | $ | 3,689 |  |  | $ | 2,581 |  |  | $ | 2,950 |  |  | $ | 5,531 |
(a) Refer to the section below titled Long-Term Debt for further details on assets restricted as collateral for payment of the related debt.
Long-term Debt | The following table presents the composition of our long-term debt portfolio.
|  | June 30, 2020 |  | December 31, 2019
($ in millions) |  | Unsecured |  | Secured |  | Total |  | Unsecured |  | Secured |  | Total
Long-term debt (a) |  |  |  |  |  |  |  |  |  |  |  |
Due within one year |  | $ | 1,063 |  |  | $ | 7,642 |  |  | $ | 8,705 |  |  | $ | 2,214 |  |  | $ | 7,005 |  |  | $ | 9,219 |
Due after one year |  | 10,146 |  |  | 10,325 |  |  | 20,471 |  |  | 8,990 |  |  | 15,818 |  |  | 24,808 |
Total long-term debt (b) (c) |  | $ | 11,209 |  |  | $ | 17,967 |  |  | $ | 29,176 |  |  | $ | 11,204 |  |  | $ | 22,823 |  |  | $ | 34,027 |
(a) | Includes basis adjustments related to the application of hedge accounting.
(b) | Includes $2.6 billion of trust preferred securities at both June 30, 2020, and December 31, 2019.
(c) Includes advances net of hedge basis adjustment from the FHLB of Pittsburgh of $11.5 billion and $13.3 billion at June 30, 2020, and December 31, 2019, respectively.
Schedule of Maturities of Long-term Debt | The following table presents the scheduled remaining maturity of long-term debt at June 30, 2020, assuming no early redemptions will occur. The amounts below include adjustments to the carrying value resulting from the application of hedge accounting. The actual payment of secured debt may vary based on the payment activity of the related pledged assets.
($ in millions) |  | 2020 |  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 and thereafter |  | Total
Unsecured |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt |  | $ | 474 |  |  | $ | 701 |  |  | $ | 1,123 |  |  | $ | 865 |  |  | $ | 1,475 |  |  | $ | 7,663 |  |  | $ | 12,301 |
Original issue discount |  | (25 | ) |  | (53 | ) |  | (57 | ) |  | (63 | ) |  | (69 | ) |  | (825 | ) |  | (1,092 | )
Total unsecured |  | 449 |  |  | 648 |  |  | 1,066 |  |  | 802 |  |  | 1,406 |  |  | 6,838 |  |  | 11,209 |
Secured |  |  |  |  |  |  |  |  |  |  |  |  |  |
Long-term debt |  | 2,571 |  |  | 9,253 |  |  | 5,435 |  |  | 588 |  |  | 102 |  |  | 18 |  |  | 17,967 |
Total long-term debt |  | $ | 3,020 |  |  | $ | 9,901 |  |  | $ | 6,501 |  |  | $ | 1,390 |  |  | $ | 1,508 |  |  | $ | 6,856 |  |  | $ | 29,176 |
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, primarily arising from securitization transactions accounted for as secured borrowings and repurchase agreements.
|  | June 30, 2020 |  | December 31, 2019
($ in millions) |  | Total (a) |  | Ally Bank |  | Total (a) |  | Ally Bank
Investment securities (b) |  | $ | 72 |  |  | $ | 72 |  |  | $ | 2,698 |  |  | $ | 2,698 |
Mortgage assets held-for-investment and lending receivables |  | 17,256 |  |  | 17,256 |  |  | 17,135 |  |  | 17,135 |
Consumer automotive finance receivables |  | 12,341 |  |  | 11,490 |  |  | 13,481 |  |  | 11,534 |
Commercial automotive finance receivables |  | 10,921 |  |  | 10,921 |  |  | 12,890 |  |  | 12,890 |
Total assets restricted as collateral (c) (d) |  | $ | 40,590 |  |  | $ | 39,739 |  |  | $ | 46,204 |  |  | $ | 44,257 |
Secured debt |  | $ | 19,146 |  | (e) | $ | 18,410 |  |  | $ | 25,773 |  | (e) | $ | 24,069 |
(a) | Ally Bank is a component of the total column.
(b) | A portion of the restricted investment securities at June 30, 2020, was restricted under repurchase agreements. Refer to the section above titled Short-Term Borrowings for information on the repurchase agreements.
(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 $22.1 billion and $24.8 billion at June 30, 2020, and December 31, 2019, respectively. These assets were composed primarily of consumer mortgage finance receivables and loans and investment securities. 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 June 30, 2020, and December 31, 2019. 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 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 $1.2 billion and $3.0 billion of short-term borrowings at June 30, 2020, and December 31, 2019, respectively.
Schedule Of Committed Funding Facilities | Committed Secured Credit Facilities
|  | Outstanding |  | Unused capacity (a) |  | Total capacity
($ in millions) |  | June 30, 2020 |  | December 31, 2019 |  | June 30, 2020 |  | December 31, 2019 |  | June 30, 2020 |  | December 31, 2019
Parent funding |  |  |  |  |  |  |  |  |  |  |  |
Secured |  | $ | — |  |  | $ | 450 |  |  | $ | 1,550 |  |  | $ | 2,050 |  |  | $ | 1,550 |  |  | $ | 2,500 |
Total committed secured credit facilities |  | $ | — |  |  | $ | 450 |  |  | $ | 1,550 |  |  | $ | 2,050 |  |  | $ | 1,550 |  |  | $ | 2,500 |
(a) Funding from committed secured credit facilities is available on request in the event excess collateral resides in certain facilities or the extent incremental collateral is available and contributed to the facilities.

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- Definition Tabular disclosure of short-term or long-term contractual arrangements with lenders, including letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(b),22(b)) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08.(e),(f)) -URI http://asc.fasb.org/extlink&oid=26873400&loc=d3e23780-122690 + Details
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- Definition Tabular disclosure of short-term debt arrangements (having initial terms of repayment within one year or the normal operating cycle, if longer) including: (1) description of the short-term debt arrangement; (2) identification of the lender or type of lender; (3) repayment terms; (4) weighted average interest rate; (5) carrying amount of funds borrowed under the specified short-term debt arrangement as of the balance sheet date; (6) description of the refinancing of a short-term obligation when that obligation is excluded from current liabilities in the balance sheet; and (7) amount of a short-term obligation that has been excluded from current liabilities in the balance sheet because of a refinancing of the obligation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19) -URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682 + Details
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