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Held-for-sale Operations (Tables) | 3 Months Ended
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Mar. 31, 2024
Discontinued Operations and Disposal Groups [Abstract] |
Schedule of Assets and Liabilities of Operations Held-for-Sale | The assets and liabilities of operations held-for-sale are summarized below.
($ in millions) |  |  | December 31, 2023
Assets |  |  |
Loans held-for-sale, net |  |  | $ | 1,940 |
Other assets (a) |  |  | 35 |
Total assets |  |  | $ | 1,975 |
Liabilities |  |  |
Accrued expenses and other liabilities (b) |  |  | $ | 17 |
Total liabilities |  |  | $ | 17 |
(a)Primarily includes accrued interest and fees of $25 million, goodwill of $4 million, and property and equipment of $4 million at December 31, 2023. (b)Includes $5 million for reserves for unfunded lending commitments at December 31, 2023.
Schedule of Fair Value Measurements - Nonrecurring Basis | The following table displays assets and liabilities of our held-for-sale operations measured at fair value on a nonrecurring basis and held at December 31, 2023. The disposal group was sold on March 1, 2024. Refer to Note 21 for descriptions of valuation methodologies used to measure material assets at fair value and details of the valuation models, key inputs to these models, and significant assumptions used.
|  | Nonrecurring fair value measurements |  | Lower-of-cost-or-fair-value reserve, valuation reserve, or cumulative adjustments |  | Total gain (loss) included in earnings |
December 31, 2023 ($ in millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Loans held-for-sale, net |  | $ | — |  |  | $ | 1,940 |  |  | $ | — |  |  | $ | 1,940 |  |  | $ | — |  |  | n/m | (a)
Other assets (b) |  | — |  |  | 35 |  |  | — |  |  | 35 |  |  | (149) |  |  | n/m | (a)
Total assets |  | $ | — |  |  | $ | 1,975 |  |  | $ | — |  |  | $ | 1,975 |  |  | $ | (149) |  |  | n/m |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued expenses and other liabilities |  | $ | — |  |  | $ | 17 |  |  | $ | — |  |  | $ | 17 |  |  | $ | — |  |  | n/m | (a)
Total liabilities |  | $ | — |  |  | $ | 17 |  |  | $ | — |  |  | $ | 17 |  |  | $ | — |  |  | n/m |
n/m = not meaningful (a)We consider the applicable valuation allowance, allowance for loan losses, or cumulative adjustments 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. (b)Includes a $149 million impairment of goodwill at Ally Lending. At the time of impairment, the fair value of goodwill at Ally Lending was classified as Level 2 under the fair value hierarchy. The following tables display assets and liabilities measured at fair value on a nonrecurring basis and still held at March 31, 2024, and December 31, 2023, respectively. The amounts are generally as of the end of each period presented, which approximate the fair value measurements that occurred during each period. These tables exclude assets of operations held-for-sale, refer to Note 2 for additional information.
|  | Nonrecurring fair value measurements |  | Lower-of-cost-or-fair-value reserve, valuation reserve, or cumulative adjustments |  | Total gain (loss) included in earnings |
March 31, 2024 ($ in millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Loans held-for-sale, net |  | $ | — |  |  | $ | — |  |  | $ | 331 |  |  | $ | 331 |  |  | $ | — |  |  | n/m | (a)
Commercial finance receivables and loans, net (b) |  |  |  |  |  |  |  |  |  |  |  |  |
Automotive |  | — |  |  | — |  |  | 2 |  |  | 2 |  |  | — |  |  | n/m | (a)
Other |  | — |  |  | — |  |  | 49 |  |  | 49 |  |  | (43) |  |  | n/m | (a)
Total commercial finance receivables and loans, net |  | — |  |  | — |  |  | 51 |  |  | 51 |  |  | (43) |  |  | n/m | (a)
Other assets |  |  |  |  |  |  |  |  |  |  |  |  |
Nonmarketable equity investments |  | — |  |  | 3 |  |  | 2 |  |  | 5 |  |  | 2 |  |  | n/m | (a)
Repossessed and foreclosed assets (c) |  | — |  |  | — |  |  | 8 |  |  | 8 |  |  | (1) |  |  | n/m | (a)
Total assets |  | $ | — |  |  | $ | 3 |  |  | $ | 392 |  |  | $ | 395 |  |  | $ | (42) |  |  | n/m |
n/m = not meaningful (a)We consider the applicable valuation allowance, allowance for loan losses, or cumulative adjustments 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 measurements |  | Lower-of-cost-or-fair-value reserve, valuation reserve, or cumulative adjustments |  | Total gain (loss) included in earnings |
December 31, 2023 ($ in millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Loans held-for-sale, net |  | $ | — |  |  | $ | — |  |  | $ | 375 |  |  | $ | 375 |  |  | $ | — |  |  | n/m | (a)
Commercial finance receivables and loans, net (b) |  |  |  |  |  |  |  |  |  |  |  |  |
Automotive |  | — |  |  | — |  |  | 6 |  |  | 6 |  |  | — |  |  | n/m | (a)
Other |  | — |  |  | — |  |  | 49 |  |  | 49 |  |  | (43) |  |  | n/m | (a)
Total commercial finance receivables and loans, net |  | — |  |  | — |  |  | 55 |  |  | 55 |  |  | (43) |  |  | n/m | (a)
Other assets |  |  |  |  |  |  |  |  |  |  |  |  |
Nonmarketable equity investments |  | — |  |  | — |  |  | 1 |  |  | 1 |  |  | 1 |  |  | n/m | (a)
Repossessed and foreclosed assets (c) |  | — |  |  | — |  |  | 10 |  |  | 10 |  |  | (1) |  |  | n/m | (a)
Total assets |  | $ | — |  |  | $ | — |  |  | $ | 441 |  |  | $ | 441 |  |  | $ | (43) |  |  | n/m |
n/m = not meaningful (a)We consider the applicable valuation allowance, allowance for loan losses, or cumulative adjustments 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.

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- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (bbb) -SubTopic 10 -Topic 820 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
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