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v3.20.2

Offsetting Assets and Liabilities (Tables) | 6 Months Ended
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Jun. 30, 2020
Offsetting [Abstract] |
Offsetting Assets | The composition of offsetting derivative instruments, financial assets, and financial liabilities was as follows.
|  | Gross amounts of recognized assets/liabilities |  | Gross amounts offset on the Condensed Consolidated Balance Sheet |  | Net amounts of assets/liabilities presented on the Condensed Consolidated Balance Sheet |  | Gross amounts not offset on the Condensed Consolidated Balance Sheet |  |
($ in millions) |  |  |  |  | Financial instruments |  | Collateral (a) (b) (c) |  | Net amount
June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets in net asset positions |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | (2 | ) |  | $ | — |  |  | $ | — |
Derivative assets with no offsetting arrangements |  | 12 |  |  | — |  |  | 12 |  |  | — |  |  | — |  |  | 12 |
Total assets |  | $ | 14 |  |  | $ | — |  |  | $ | 14 |  |  | $ | (2 | ) |  | $ | — |  |  | $ | 12 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities in net asset positions |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | (2 | ) |  | $ | — |  |  | $ | — |
Securities sold under agreements to repurchase (d) |  | 79 |  |  | — |  |  | 79 |  |  | — |  |  | (79 | ) |  | — |
Total liabilities |  | $ | 81 |  |  | $ | — |  |  | $ | 81 |  |  | $ | (2 | ) |  | $ | (79 | ) |  | $ | — |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets in net asset positions |  | $ | 62 |  |  | $ | — |  |  | $ | 62 |  |  | $ | — |  |  | $ | (36 | ) |  | $ | 26 |
Derivative assets with no offsetting arrangements |  | 2 |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | 2 |
Total assets |  | $ | 64 |  |  | $ | — |  |  | $ | 64 |  |  | $ | — |  |  | $ | (36 | ) |  | $ | 28 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities in net liability positions |  | $ | 5 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | (4 | ) |  | $ | 1 |
Total liabilities |  | $ | 5 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | (4 | ) |  | $ | 1 |
(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. There was $29 million of noncash derivative collateral pledged to us that was excluded at December 31, 2019. 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. Noncash collateral pledged to us where the agreement grants us the right to sell or pledge the underlying assets had a fair value of $29 million at December 31, 2019. We have not sold or pledged any of the noncash collateral received under these agreements.
(d) For additional information on securities sold under agreements to repurchase, refer to Note 13.
Offsetting Liabilities | The composition of offsetting derivative instruments, financial assets, and financial liabilities was as follows.
|  | Gross amounts of recognized assets/liabilities |  | Gross amounts offset on the Condensed Consolidated Balance Sheet |  | Net amounts of assets/liabilities presented on the Condensed Consolidated Balance Sheet |  | Gross amounts not offset on the Condensed Consolidated Balance Sheet |  |
($ in millions) |  |  |  |  | Financial instruments |  | Collateral (a) (b) (c) |  | Net amount
June 30, 2020 |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets in net asset positions |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | (2 | ) |  | $ | — |  |  | $ | — |
Derivative assets with no offsetting arrangements |  | 12 |  |  | — |  |  | 12 |  |  | — |  |  | — |  |  | 12 |
Total assets |  | $ | 14 |  |  | $ | — |  |  | $ | 14 |  |  | $ | (2 | ) |  | $ | — |  |  | $ | 12 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities in net asset positions |  | $ | 2 |  |  | $ | — |  |  | $ | 2 |  |  | $ | (2 | ) |  | $ | — |  |  | $ | — |
Securities sold under agreements to repurchase (d) |  | 79 |  |  | — |  |  | 79 |  |  | — |  |  | (79 | ) |  | — |
Total liabilities |  | $ | 81 |  |  | $ | — |  |  | $ | 81 |  |  | $ | (2 | ) |  | $ | (79 | ) |  | $ | — |
December 31, 2019 |  |  |  |  |  |  |  |  |  |  |  |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Derivative assets in net asset positions |  | $ | 62 |  |  | $ | — |  |  | $ | 62 |  |  | $ | — |  |  | $ | (36 | ) |  | $ | 26 |
Derivative assets with no offsetting arrangements |  | 2 |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | 2 |
Total assets |  | $ | 64 |  |  | $ | — |  |  | $ | 64 |  |  | $ | — |  |  | $ | (36 | ) |  | $ | 28 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Derivative liabilities in net liability positions |  | $ | 5 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | (4 | ) |  | $ | 1 |
Total liabilities |  | $ | 5 |  |  | $ | — |  |  | $ | 5 |  |  | $ | — |  |  | $ | (4 | ) |  | $ | 1 |
(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. There was $29 million of noncash derivative collateral pledged to us that was excluded at December 31, 2019. 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. Noncash collateral pledged to us where the agreement grants us the right to sell or pledge the underlying assets had a fair value of $29 million at December 31, 2019. We have not sold or pledged any of the noncash collateral received under these agreements.
(d) For additional information on securities sold under agreements to repurchase, refer to Note 13.

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