Ally Bank 2011 Annual Report Download - page 150

Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10−K
December 31, 2010 Total
Due in
one year
or less
Due after one
year through
five years
Due after five
years through
ten years Due after ten years (a)
($ in millions) Amount Yield Amount Yield Amount Yield Amount Yield Amount Yield
Fair value of
available−for−sale
debt securities (b)
U.S. Treasury and
federal agencies $ 3,318 1.4% $ 124 1.2% $ 3,094 1.3% $ 100 3.7% $ — —%
States and political
subdivisions 2 8.7 — — — — — — 2 8.7
Foreign government 1,248 3.1 7 2.2 1,092 3.1 149 3.5 — —
Mortgage−backed
residential 5,825 3.8 — — 57 3.2 64 4.4 5,704 3.8
Asset−backed 1,948 2.5 — — 1,146 2.2 500 2.4 302 4.0
Corporate debt 1,558 3.9 22 5.7 811 3.5 593 4.3 132 4.0
Other 151 1.5 151 1.5 — — — — — —
Total available−for−sale
debt securities $ 14,050 3.0 $ 304 1.7 $ 6,200 2.1 $ 1,406 3.5 $ 6,140 3.8
Amortized cost of
available−for−sale
debt securities $ 14,008 $ 305 $ 6,152 $ 1,388 $ 6,163
(a) Investments with no stated maturities are included as contractual maturities of greater than 10 years. Actual maturities may differ due to call or prepayment options.
(b) Yields on tax−exempt obligations have been computed on a tax−equivalent basis.
The balance of cash equivalents was $5.6 billion and $5.3 billion at December 31, 2011 and 2010, respectively and are composed primarily of money
market accounts and short−term securities, including U.S. Treasury bills.
The following table presents gross gains and losses realized upon the sales of available−for−sale securities and other−than−temporary impairment.
Year ended December 31, ($ in millions) 2011 2010 2009
Gross realized gains $ 333 $ 540 $ 346
Gross realized losses (28) (35) (129)
Other−than−temporary impairment (11) (1) (55)
Net realized gains $ 294 $ 504 $ 162
The following table presents interest and dividends on available−for−sale securities.
Year ended December 31, ($ in millions) 2011 2010 2009
Taxable interest $ 373 $ 329 $ 174
Taxable dividends 25 17 9
Interest and dividends exempt from U.S. federal income tax — 10 37
Interest and dividends on available−for−sale securities $ 398 $ 356 $ 220
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