Ally Bank 2011 Annual Report Download - page 176

Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10−K
The changes in the carrying amounts of goodwill for the periods shown were as follows.
($ in millions)
International
Automotive Finance
operations Insurance operations Total
Goodwill acquired prior to December 31, 2009 $ 490 $ 909 $ 1,399
Accumulated impairment losses (a) — (649) (b) (649)
Sale of reporting unit — (107) (107)
Transfer of assets of discontinued operations held−for−sale (22) (108) (130)
Foreign−currency translation 1 12 13
Goodwill at December 31, 2009 $ 469 $ 57 $ 526
Transfer of assets of discontinued operations held−for−sale (1) (1) (2)
Foreign−currency translation — 1 1
Goodwill at December 31, 2010 $ 468 $ 57 $ 525
Transfer of assets of discontinued operations held−for−sale — (4) (4)
Foreign−currency translation — (3) (3)
Goodwill at December 31, 2011 $ 468 $ 50 $ 518
(a) The impairment losses of our Insurance operations were reported as loss from discontinued operations, net of tax, in the Consolidated Statement of Income. All other impairment
losses were reported as other operating expenses in the Consolidated Statement of Income.
(b) During the three months ended June 30, 2009, our Insurance operations initiated an evaluation of goodwill for potential impairment, which was in addition to our annual impairment
evaluation. These tests were initiated in light of a more−than−likely expectation that a reporting unit or a significant portion of a reporting unit would be sold. The fair value was
determined using an offer provided by a willing purchaser. Based on the preliminary results of the assessments, our Insurance operations concluded that the carrying value of the
reporting unit exceeded the fair value resulting in an impairment loss during 2009.
15. Deposit Liabilities
Deposit liabilities consisted of the following.
December 31, ($ in millions) 2011 2010
Domestic deposits
Noninterest−bearing deposits $ 2,029 $ 2,108
Interest−bearing deposits
Savings and money market checking accounts 9,035 8,081
Certificates of deposit 28,540 23,728
Dealer deposits 1,769 1,459
Total domestic deposit liabilities 41,373 35,376
Foreign deposits
Noninterest−bearing deposits — 23
Interest−bearing deposits
Savings and money market checking accounts 1,408 961
Certificates of deposit 1,958 2,390
Dealer deposits 311 298
Total foreign deposit liabilities 3,677 3,672
Total deposit liabilities $ 45,050 $ 39,048
Noninterest−bearing deposits primarily represent third−party escrows associated with our mortgage loan−servicing portfolio. The escrow deposits are
not subject to an executed agreement and can be withdrawn without penalty at any time. At December 31, 2011 and 2010, certificates of deposit included
$10.0 billion and $7.0 billion, respectively, of domestic certificates of deposit in denominations of $100 thousand or more.
173