Ally Bank 2012 Annual Report Download - page 192

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Information concerning principal geographic areas were as follows.
Year ended December 31, ($ in millions) Revenue
(a)
Income (loss)
from continuing
operations
before income
tax expense (b) Net income (loss) (b) Identifiable assets (c) Long-lived assets (d)
2012
Canada $ 236 $ 51 $ 295 $ 13,362 $ 1
Europe (e) 21 33 183 10,971 16
Latin America 2 (19) 219 8,050 33
Asia-Pacific 4 3 99 395 —
Total foreign 263 68 796 32,778 50
Total domestic (f) 4,635 (823) 400 149,542 13,831
Total $ 4,898 $ (755) $ 1,196 $ 182,320 $ 13,881
2011
Canada $ 175 $ (16) $ 436 $ 15,156 $ 282
Europe (e) (44) (11) 175 9,976 92
Latin America (50) (105) 104 7,647 30
Asia-Pacific 2 — 69 292 —
Total foreign 83 (132) 784 33,071 404
Total domestic (f) 3,895 (819) (941) 150,470 9,236
Total $ 3,978 $ (951) $ (157) $ 183,541 $ 9,640
2010
Canada $ 164 $ (35) $ 402 $ 17,321 $ 1,522
Europe (e) (58) (60) 278 11,321 406
Latin America 9 (14) 164 6,917 35
Asia-Pacific 4 6 7 202 —
Total foreign 119 (103) 851 35,761 1,963
Total domestic (f) 5,603 495 178 135,722 7,541
Total $ 5,722 $ 392 $ 1,029 $ 171,483 $ 9,504
(a) Revenue consists of net financing revenue and total other revenue as presented in our Consolidated Statement of Income.
(b) The domestic amounts include original discount amortization of $349 million, $925 million, and $1.2 billion for the year ended December 31, 2012, 2011,
and 2010, respectively.
(c) Identifiable assets consist of total assets excluding goodwill.
(d) Long-lived assets consist of investment in operating leases, net, and net property and equipment.
(e) Amounts include eliminations between our foreign operations.
(f) Amounts include eliminations between our domestic and foreign operations.
27. Parent and Guarantor Consolidating Financial Statements
Certain of our senior notes are guaranteed by a group of subsidiaries (the Guarantors). The Guarantors, each of which is a 100% directly
owned subsidiary of Ally Financial Inc., are Ally US LLC, IB Finance Holding Company, LLC (IB Finance), and GMAC
Continental Corporation (GMAC Continental). The Guarantors fully and unconditionally guarantee the senior notes on a joint and several
basis. In connection with the purchase and sale agreement with General Motors Financial (GMF) described in Note 2, all of the common
stock of GMAC Continental will be sold to GMF. Following the closing of this equity sale transaction, GMAC Continental will cease to be a
Guarantor, and the proceeds from the sale of GMAC Continental will be reinvested in IB Finance or a subsidiary of IB Finance. Following the
completion of this transaction, IB Finance and Ally US LLC will remain note Guarantors.
The following financial statements present condensed consolidating financial data for (i) Ally Financial Inc. (on a parent company-only
basis), (ii) the Guarantors, (iii) the nonguarantor subsidiaries (all other subsidiaries), and (iv) an elimination column for adjustments to arrive
at (v) the information for the parent company, Guarantors, and nonguarantors on a consolidated basis.
Investments in subsidiaries are accounted for by the parent company and the Guarantors using the equity-method for this presentation.
Results of operations of subsidiaries are therefore classified in the parent company’s and Guarantors’ investment in subsidiaries accounts. The
elimination entries set forth in the following condensed consolidating financial statements eliminate distributed and undistributed income of
subsidiaries, investments in subsidiaries, and intercompany balances and transactions between the parent, Guarantors, and nonguarantors.
Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10-K