Ally Bank 2012 Annual Report Download - page 195

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Year ended December 31, 2011 ($ in millions) Parent Guarantors Nonguarantors Consolidating adjustments Ally consolidated
Financing revenue and other interest income
Interest and fees on finance receivables and loans $ 1,071 $ — $ 3,348 $ (10) $ 4,409
Interest and fees on finance receivables and loans — intercompany 213 — 26 (239) —
Interest on loans held-for-sale 5 — 327 — 332
Interest on trading assets — — 19 — 19
Interest and dividends on available-for-sale investment securities 4 — 347 — 351
Interest-bearing cash 5 — 16 — 21
Operating leases 713 — 1,216 — 1,929
Total financing revenue and other interest income 2,011 — 5,299 (249) 7,061
Interest expense
Interest on deposits 65 — 549 — 614
Interest on short-term borrowings 56 — 60 — 116
Interest on long-term debt 3,405 (1) 926 (21) 4,309
Interest on intercompany debt (13) 2 236 (225) —
Total interest expense 3,513 1 1,771 (246) 5,039
Depreciation expense on operating lease assets 250 — 691 — 941
Net financing (loss) revenue (1,752) (1) 2,837 (3) 1,081
Dividends from subsidiaries
Nonbank subsidiaries 1,383 — — (1,383) —
Other revenue
Servicing fees 270 — 1,089 (1) 1,358
Servicing asset valuation and hedge activities, net — — (789) — (789)
Total servicing income, net 270 — 300 (1) 569
Insurance premiums and service revenue earned — — 1,170 — 1,170
Gain on mortgage and automotive loans, net 22 — 448 — 470
Loss on extinguishment of debt (64) — — — (64)
Other gain on investments, net 10 — 249 — 259
Other income, net of losses (167) 37 1,287 (664) 493
Total other revenue 71 37 3,454 (665) 2,897
Total net (loss) revenue (298) 36 6,291 (2,051) 3,978
Provision for loan losses 58 — 130 — 188
Noninterest expense
Compensation and benefits expense 694 37 628 (37) 1,322
Insurance losses and loss adjustment expenses — — 483 — 483
Other operating expenses 546 1 3,017 (628) 2,936
Total noninterest expense 1,240 38 4,128 (665) 4,741
(Loss) income from continuing operations before income tax
(benefit) expense and undistributed income (loss) of
subsidiaries (1,596) (2) 2,033 (1,386) (951)
Income tax (benefit) expense from continuing operations (616) (1) 668 — 51
Net (loss) income from continuing operations (980) (1) 1,365 (1,386) (1,002)
Income (loss) from discontinued operations, net of tax 24 (8) 826 3 845
Undistributed income (loss) of subsidiaries
Bank subsidiary 1,254 1,254 — (2,508) —
Nonbank subsidiaries (455) 477 — (22) —
Net (loss) income $ (157) $ 1,722 $ 2,191 $ (3,913) $ (157)
Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10-K