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Fair Value (Tables)

9 Months Ended

Sep. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on a Recurring Basis

The following tables display the assets and liabilities measured at fair value on a recurring basis including financial instruments elected for the fair value option. We often economically hedge the fair value change of our assets or liabilities with derivatives. The tables below display the hedges separately from the hedged items; therefore, they do not directly display the impact of our risk-management activities.

						Recurring fair value measurements
September 30, 2025 ($ in millions)						Level 1						Level 2						Level 3						Total
Assets
Investment securities
Equity securities (a) (b)						$	810					$	—					$	—					$	810
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies						2,194						—						—						2,194
U.S. States and political subdivisions						—						519						35						554
Foreign government						35						169						—						204
Agency mortgage-backed residential						—						12,822						—						12,822
Mortgage-backed residential						—						200						—						200
Agency mortgage-backed commercial						—						4,782						—						4,782
Asset-backed						—						25						—						25
Corporate debt						—						1,903						—						1,903
Total available-for-sale securities						2,229						20,420						35						22,684
Other assets
Derivative contracts in a receivable position
Foreign currency						—						4						—						4
Total derivative contracts in a receivable position						—						4						—						4
Total assets						$	3,039					$	20,424					$	35					$	23,498

(a)Our direct investment in any one industry did not exceed 14%. The concentration calculation excludes our investment in mutual funds and ETFs.

(b)Excludes $55 million of equity securities that are measured at fair value using the net asset value practical expedient and therefore are not classified in the fair value hierarchy.

						Recurring fair value measurements
December 31, 2024 ($ in millions)						Level 1						Level 2						Level 3						Total
Assets
Investment securities
Equity securities (a) (b)						$	820					$	—					$	—					$	820
Available-for-sale securities
Debt securities
U.S. Treasury and federal agencies						1,873						—						—						1,873
U.S. States and political subdivisions						—						582						35						617
Foreign government						36						158						—						194
Agency mortgage-backed residential						—						13,653						—						13,653
Mortgage-backed residential						—						206						—						206
Agency mortgage-backed commercial						—						3,984						—						3,984
Asset-backed						—						129						—						129
Corporate debt						—						1,754						—						1,754
Total available-for-sale securities						1,909						20,466						35						22,410
Loans held-for-sale (c)						—						11						5						16
Other assets
Derivative contracts in a receivable position
Interest rate						—						2						1						3
Foreign currency						—						9						—						9
Total derivative contracts in a receivable position						—						11						1						12
Total assets						$	2,729					$	20,488					$	41					$	23,258
Liabilities
Accrued expenses and other liabilities
Derivative contracts in a payable position
Credit						$	—					$	—					$	4					$	4
Total derivative contracts in a payable position						—						—						4						4
Total liabilities						$	—					$	—					$	4					$	4

(a)Our direct investment in any one industry did not exceed 14%. The concentration calculation excludes our investment in mutual funds and ETFs.

(b)Excludes $51 million of equity securities that are measured at fair value using the net asset value practical expedient and therefore are not classified in the fair value hierarchy.

(c)Consumer mortgage loans carried at fair value due to fair value option elections.

Schedule of Fair Value, Assets Measured on a Recurring Basis, Unobservable Input Reconciliation

The following tables present the reconciliation for all Level 3 assets and liabilities measured at fair value on a recurring basis. We often economically hedge the fair value change of our assets or liabilities with derivatives and other financial instruments. The Level 3 items presented below may be hedged by derivatives and other financial instruments that are classified as Level 1 or Level 2. Thus, the following tables do not fully reflect the impact of our risk-management activities.

			Equity securities									Available-for-sale securities									Loans held-for-sale (a)
($ in millions)			2025			2024						2025			2024						2025			2024
Assets
Fair value at July 1,			$	—		$	—					$	35		$	11					$	—		$	2
Net realized/unrealized gains
Included in earnings			—			—						—			—						—			—
Included in OCI			—			—						—			—						—			—
Purchases and originations (b)			—			—						—			27						—			16
Sales			—			—						—			—						—			(11)
Issuances			—			—						—			—						—			—
Settlements			—			—						—			—						—			—
Transfers into Level 3			—			—						—			—						—			—
Transfers out of Level 3			—			—						—			—						—			—
Fair value at September 30,			$	—		$	—					$	35		$	38					$	—		$	7
Net unrealized gains still held at September 30,
Included in earnings			$	—		$	—					$	—		$	—					$	—		$	—
Included in OCI			—			—						—			—						—			—

(a)Consumer mortgage loans carried at fair value due to fair value option elections.

(b)Includes a $27 million reclassification of a commercial and industrial exposure to an available-for-sale debt security during the three months ended September 30, 2024.

			Derivative liabilities, net of derivative assets (a)
($ in millions)			2025						2024
Liabilities
Fair value at July 1,			$	4					$	3
Net realized/unrealized gains
Included in earnings			—						(5)
Included in OCI			—						—
Purchases and originations			—						—
Sales			—						—
Issuances			—						—
Settlements			(4)						—
Transfers into Level 3			—						—
Transfers out of Level 3 (b)			—						5
Fair value at September 30,			$	—					$	3
Net unrealized gains still held at September 30,
Included in earnings			$	—					$	(2)
Included in OCI			—						—

(a)Net realized/unrealized gains are reported as (loss) gain on mortgage and automotive loans, net, and other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income.

(b)Represents the settlement value of interest rate derivative assets that are transferred to loans held-for-sale within Level 2 of the fair value hierarchy during the three months ended September 30, 2024. These transfers are deemed to have occurred at the end of the reporting period.

			Equity securities									Available-for-sale securities									Loans held-for-sale (a)
($ in millions)			2025			2024						2025			2024						2025			2024
Assets
Fair value at January 1,			$	—		$	1					$	35		$	9					$	5		$	—
Net realized/unrealized gains
Included in earnings			—			—						—			—						—			—
Included in OCI			—			—						—			—						—			—
Purchases and originations (b)			—			—						—			29						9			18
Sales			—			—						—			—						(14)			(11)
Issuances			—			—						—			—						—			—
Settlements			—			—						—			—						—			—
Transfers into Level 3			—			—						—			—						—			—
Transfers out of Level 3			—			(1)						—			—						—			—
Fair value at September 30,			$	—		$	—					$	35		$	38					$	—		$	7
Net unrealized gains still held at September 30,
Included in earnings			$	—		$	—					$	—		$	—					$	—		$	—
Included in OCI			—			—						—			—						—			—

(a)Consumer mortgage loans carried at fair value due to fair value option elections.

(b)Includes a $27 million reclassification of a commercial and industrial exposure to an available-for-sale debt security during the nine months ended September 30, 2024.

			Derivative liabilities, net of derivative assets (a)
($ in millions)			2025						2024
Liabilities
Fair value at January 1,			$	3					$	8
Net realized/unrealized gains
Included in earnings			(1)						(14)
Included in OCI			—						—
Purchases and originations			—						—
Sales			—						—
Issuances			—						—
Settlements			(4)						(5)
Transfers into Level 3			—						—
Transfers out of Level 3 (b)			2						14
Fair value at September 30,			$	—					$	3
Net unrealized gains still held at September 30,
Included in earnings			$	—					$	(7)
Included in OCI			—						—

(a)Net realized/unrealized gains are reported as (loss) gain on mortgage and automotive loans, net, and other income, net of losses, in the Condensed Consolidated Statement of Comprehensive Income.

(b)Represents the settlement value of interest rate derivative assets that are transferred to loans held-for-sale within Level 2 of the fair value hierarchy during both the nine months ended September 30, 2025, and September 30, 2024. These transfers are deemed to have occurred at the end of the reporting period.

Schedule of Fair Value Measurements - Nonrecurring Basis

The following tables display assets and liabilities measured at fair value on a nonrecurring basis and still held at September 30, 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.

						Nonrecurring fair value measurements																								Lower-of-cost-or-fair-value reserve, valuation reserve, or cumulative adjustments						Total gain (loss) included in earnings
September 30, 2025 ($ in millions)						Level 1						Level 2						Level 3						Total
Assets
Loans held-for-sale, net						$	—					$	—					$	179					$	179					$	—					n/m			(a)
Commercial finance receivables and loans, net (b)
Automotive						—						—						2						2						—						n/m			(a)
Other						—						—						25						25						(95)						n/m			(a)
Total commercial finance receivables and loans, net						—						—						27						27						(95)						n/m			(a)
Other assets
Repossessed and foreclosed assets (c)						—						—						7						7						(2)						n/m			(a)
Total assets						$	—					$	—					$	213					$	213					$	(97)					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.

Schedule of Fair Value, by Balance Sheet Grouping

The following table presents the carrying and estimated fair value of financial instruments, except for those recorded at fair value on a recurring basis presented in the previous section of this note titled Recurring Fair Value. When possible, we use quoted market prices to determine fair value. Where quoted market prices are not available, the fair value is internally derived based on appropriate valuation methodologies with respect to the amount and timing of future cash flows and estimated discount rates. However, considerable judgment is required in interpreting current market data to develop the market assumptions and inputs necessary to estimate fair value. As such, the actual amount received to sell an asset or the amount paid to settle a liability could differ from our estimates. Fair value information presented herein was based on information available at September 30, 2025, and December 31, 2024.

									Estimated fair value
($ in millions)			Carrying value						Level 1						Level 2						Level 3						Total
September 30, 2025
Financial assets
Held-to-maturity securities			$	4,433					$	—					$	4,493					$	—					$	4,493
Loans held-for-sale, net			179						—						—						179						179
Finance receivables and loans, net			131,107						—						—						134,472						134,472
FHLB/FRB stock (a)			752						—						752						—						752
Financial liabilities
Deposit liabilities			$	40,791					$	—					$	—					$	40,947					$	40,947
Short-term borrowings			3,879						—						—						3,880						3,880
Long-term debt			16,749						—						13,134						4,884						18,018
December 31, 2024
Financial assets
Held-to-maturity securities			$	4,346					$	—					$	4,293					$	—					$	4,293
Loans held-for-sale, net			144						—						—						144						144
Finance receivables and loans, net			132,316						—						—						134,603						134,603
FHLB/FRB stock (a)			698						—						698						—						698
Financial liabilities
Deposit liabilities			$	47,242					$	—					$	—					$	47,403					$	47,403
Short-term borrowings			1,625						—						—						1,625						1,625
Long-term debt			17,495						—						13,535						4,982						18,517

(a)Included in other assets on our Condensed Consolidated Balance Sheet.

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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).

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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