Ally Bank 2011 Annual Report Download - page 235

Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10−K
32. Quarterly Financial Statements (unaudited)
2011 ($ in millions) First quarter Second quarter Third quarter Fourth quarter
Net financing revenue $ 544 $ 718 $ 607 $ 606
Total other revenue 1,008 1,057 554 977
Total net revenue 1,552 1,775 1,161 1,583
Provision for loan losses 113 50 50 6
Other noninterest expense 1,340 1,534 1,217 1,694
Income (loss) from continuing operations before income tax expense (benefit) 99 191 (106) (117)
Income tax (benefit) expense from continuing operations (70) 83 93 73
Net income (loss) from continuing operations 169 108 (199) (190)
(Loss) income from discontinued operations, net of tax (23) 5 (11) (16)
Net income (loss) $ 146 $ 113 $ (210) $ (206)
Basic and diluted earnings per common share
Net (loss) from continuing operations $ (2) $ (62) $ (300) $ (294)
Net (loss) (19) (58) (308) (305)
2010
Net financing revenue $ 758 $ 718 $ 593 $ 545
Total other revenue 1,022 1,329 1,377 1,300
Total net revenue 1,780 2,047 1,970 1,845
Provision for loan losses 145 218 8 71
Other noninterest expense 1,450 1,400 1,662 1,549
Income from continuing operations before income tax expense 185 429 300 225
Income tax expense from continuing operations 35 31 42 45
Net income from continuing operations 150 398 258 180
Income (loss) from discontinued operations, net of tax 12 167 11 (101)
Net income $ 162 $ 565 $ 269 $ 79
Basic earnings per common share
Net (loss) income from continuing operations $ (441) $ 467 $ (87) $ (1,025)
Net (loss) income (426) 676 (73) (1,151)
Diluted earnings per common share
Net (loss) income from continuing operations $ (441) $ 209 $ (87) $ (1,025)
Net (loss) income (426) 302 (73) (1,151)
2009
Net financing revenue $ 505 $ 418 $ 567 $ 672
Total other revenue 1,163 756 1,310 811
Total net revenue 1,668 1,174 1,877 1,483
Provision for loan losses 744 1,116 680 3,063
Other noninterest expense 1,574 1,648 2,069 2,217
Loss from continuing operations before income tax (benefit) expense (650) (1,590) (872) (3,797)
Income tax (benefit) expense from continuing operations (116) 1,092 (294) (608)
Net loss from continuing operations (534) (2,682) (578) (3,189)
Loss from discontinued operations, net of tax (141) (1,221) (189) (1,764)
Net loss $ (675) $ (3,903) $ (767) $ (4,953)
Basic and diluted earnings per common share
Net loss from continuing operations $ (1,328) $ (5,395) $ (1,764) $ (6,788)
Net loss (1,613) (7,657) (2,114) (10,037)
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