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Held-for-sale Operations (Tables) | 3 Months Ended
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Mar. 31, 2025
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) | March 31, 2025 |  |
Assets |  |  |
Loans held-for-sale, net | $ | 2,248 |  |  |
Other assets (a) | 192 |  |  |
Total assets | $ | 2,440 |  |  |
Liabilities |  |  |
Accrued expenses and other liabilities | $ | 35 |  |  |
Total liabilities | $ | 35 |  |  |
(a)Primarily includes goodwill of $56 million, intangible assets of $51 million, cash in transit of $51 million, and accrued unbilled interest receivable of $20 million at March 31, 2025.
Schedule of Fair Value Measurements - Nonrecurring Basis | The following table displays assets and liabilities of our held-for-sale operations measured at fair value on a nonrecurring basis and held at March 31, 2025. The disposal group was sold on April 1, 2025. Refer to Note 21 for descriptions of valuation methodologies used to measure material assets at fair value and details of the valuation models, key inputs to these models, and significant assumptions used.
|  | Nonrecurring fair value measurements |  | Lower-of-cost-or-fair-value reserve, valuation reserve, or cumulative adjustments |  | Total gain (loss) included in earnings |
March 31, 2025 ($ in millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Loans held-for-sale, net |  | $ | — |  |  | $ | 2,248 |  |  | $ | — |  |  | $ | 2,248 |  |  | $ | — |  |  | n/m | (a)
Other assets (b) (c) |  | — |  |  | 199 |  |  | — |  |  | 199 |  |  | (307) |  |  | (7) |  | (d)
Total assets |  | $ | — |  |  | $ | 2,447 |  |  | $ | — |  |  | $ | 2,447 |  |  | $ | (307) |  |  | $ | (7) |  |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |
Accrued expenses and other liabilities |  | $ | — |  |  | $ | 35 |  |  | $ | — |  |  | $ | 35 |  |  | $ | — |  |  | n/m | (a)
Total liabilities |  | $ | — |  |  | $ | 35 |  |  | $ | — |  |  | $ | 35 |  |  | $ | — |  |  | 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 $305 million impairment of goodwill at Ally Credit Card. At the time of impairment, the fair value of goodwill was classified as Level 2 under the fair value hierarchy. (c)Includes a $2 million impairment of other assets related to Ally Credit Card branded plastics acquired by the purchaser. At the time of impairment, the fair value of other assets was classified as Level 2 under the fair value hierarchy. (d)Represents estimated costs to sell related to the transaction. The following tables display assets and liabilities measured at fair value on a nonrecurring basis and still held at March 31, 2025, and December 31, 2024, respectively. The amounts are generally as of the end of each period presented, which approximate the fair value measurements that occurred during each period. These tables exclude operations held-for-sale, refer to Note 2 for additional information.
|  | Nonrecurring fair value measurements |  | Lower-of-cost-or-fair-value reserve, valuation reserve, or cumulative adjustments |  | Total gain (loss) included in earnings |
March 31, 2025 ($ in millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Loans held-for-sale, net |  | $ | — |  |  | $ | — |  |  | $ | 203 |  |  | $ | 203 |  |  | $ | — |  |  | n/m | (a)
Commercial finance receivables and loans, net (b) |  |  |  |  |  |  |  |  |  |  |  |  |
Automotive |  | — |  |  | — |  |  | 77 |  |  | 77 |  |  | (16) |  |  | n/m | (a)
Other |  | — |  |  | — |  |  | 21 |  |  | 21 |  |  | (67) |  |  | n/m | (a)
Total commercial finance receivables and loans, net |  | — |  |  | — |  |  | 98 |  |  | 98 |  |  | (83) |  |  | n/m | (a)
Other assets |  |  |  |  |  |  |  |  |  |  |  |  |
Repossessed and foreclosed assets (c) |  | — |  |  | — |  |  | 10 |  |  | 10 |  |  | (2) |  |  | n/m | (a)
Total assets |  | $ | — |  |  | $ | — |  |  | $ | 311 |  |  | $ | 311 |  |  | $ | (85) |  |  | 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, 2024 ($ in millions) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |
Loans held-for-sale, net |  | $ | — |  |  | $ | — |  |  | $ | 143 |  |  | $ | 143 |  |  | $ | — |  |  | n/m | (a)
Commercial finance receivables and loans, net (b) |  |  |  |  |  |  |  |  |  |  |  |  |
Automotive |  | — |  |  | — |  |  | 13 |  |  | 13 |  |  | (2) |  |  | n/m | (a)
Other |  | — |  |  | — |  |  | 26 |  |  | 26 |  |  | (63) |  |  | n/m | (a)
Total commercial finance receivables and loans, net |  | — |  |  | — |  |  | 39 |  |  | 39 |  |  | (65) |  |  | n/m | (a)
Other assets |  |  |  |  |  |  |  |  |  |  |  |  |
Goodwill (c) |  | — |  |  | — |  |  | 362 |  |  | 362 |  |  | (118) |  |  | n/m | (a)
Repossessed and foreclosed assets (d) |  | — |  |  | — |  |  | 8 |  |  | 8 |  |  | (1) |  |  | n/m | (a)
Total assets |  | $ | — |  |  | $ | — |  |  | $ | 552 |  |  | $ | 552 |  |  | $ | (184) |  |  | 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)As of December 31, 2024, we recognized a $118 million impairment of goodwill at Ally Credit Card. Refer to Note 11 for further discussion. (d)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://www.xbrl.org/2009/role/commonPracticeRef -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 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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