XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.24.1.u1

Revenue from Contracts with Customers | 3 Months Ended
--- | ---
Mar. 31, 2024
Revenue from Contract with Customer [Abstract] |
Revenue from Contracts with Customers | Revenue from Contracts with Customers Our primary revenue sources, which include financing revenue and other interest income, are addressed by other U.S. GAAP topics 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 U.S. GAAP topics 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 2023 Annual Report on Form 10-K.
Three months ended March 31, ($ in millions) |  | Automotive Finance operations |  | Insurance operations |  | Mortgage Finance operations |  | Corporate Finance operations |  | Corporate and Other |  | Consolidated
2024 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from contracts with customers |  |  |  |  |  |  |  |  |  |  |  |
Noninsurance contracts (a) (b) (c) |  | $ | — |  |  | $ | 173 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 173 |
Remarketing fee income |  | 30 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 30 |
Brokerage commissions and other revenue |  | — |  |  | — |  |  | — |  |  | — |  |  | 23 |  |  | 23 |
Banking fees and interchange income (d) |  | — |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | 9 |
Brokered/agent commissions |  | — |  |  | 4 |  |  | — |  |  | — |  |  | — |  |  | 4 |
Other |  | 5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5 |
Total revenue from contracts with customers |  | 35 |  |  | 177 |  |  | — |  |  | — |  |  | 32 |  |  | 244 |
All other revenue |  | 62 |  |  | 207 |  |  | 6 |  |  | 23 |  |  | (12) |  |  | 286 |
Total other revenue (e) |  | $ | 97 |  |  | $ | 384 |  |  | $ | 6 |  |  | $ | 23 |  |  | $ | 20 |  |  | $ | 530 |
2023 |  |  |  |  |  |  |  |  |  |  |  |
Revenue from contracts with customers |  |  |  |  |  |  |  |  |  |  |  |
Noninsurance contracts (a) (b) (c) |  | $ | — |  |  | $ | 169 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 169 |
Remarketing fee income |  | 33 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 33 |
Brokerage commissions and other revenue |  | — |  |  | — |  |  | — |  |  | — |  |  | 23 |  |  | 23 |
Banking fees and interchange income (d) |  | — |  |  | — |  |  | — |  |  | — |  |  | 10 |  |  | 10 |
Brokered/agent commissions |  | — |  |  | 3 |  |  | — |  |  | — |  |  | — |  |  | 3 |
Other |  | 5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5 |
Total revenue from contracts with customers |  | 38 |  |  | 172 |  |  | — |  |  | — |  |  | 33 |  |  | 243 |
All other revenue |  | 39 |  |  | 209 |  |  | 4 |  |  | 29 |  |  | (26) |  |  | 255 |
Total other revenue (e) |  | $ | 77 |  |  | $ | 381 |  |  | $ | 4 |  |  | $ | 29 |  |  | $ | 7 |  |  | $ | 498 |
(a)We had opening balances of $3.0 billion in unearned revenue associated with outstanding contracts at both January 1, 2024, and 2023, and $248 million and $241 million of these balances were recognized as insurance premiums and service revenue earned in our Condensed Consolidated Statement of Comprehensive (Loss) Income during the three months ended March 31, 2024, and 2023, respectively. (b)At March 31, 2024, we had unearned revenue of $2.9 billion associated with outstanding contracts, and with respect to this balance we expect to recognize revenue of $670 million during the remainder of 2024, $751 million in 2025, $594 million in 2026, $422 million in 2027, and $510 million thereafter. At March 31, 2023, we had unearned revenue of $3.0 billion associated with outstanding contracts. (c)We had deferred insurance assets of $1.8 billion at both March 31, 2024, and December 31, 2023, and recognized $147 million of expense during the three months ended March 31, 2024. We had deferred insurance assets of $1.8 billion at both March 31, 2023, and December 31, 2022, and recognized $144 million of expense during the three months ended March 31, 2023. (d)Interchange income is reported net of customer rewards. Customer rewards expense was $6 million and $4 million for the three months ended March 31, 2024, and 2023, respectively. (e)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 $46 million and $47 million for the three months ended March 31, 2024, and 2023, 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 (Loss) Income.

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration