Ally Bank 2014 Annual Report Download - page 116
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Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10-K
104
Held-for-sale Operations
The assets of operations held-for-sale are summarized below.
December 31, ($ in millions)
Select
Automotive
Finance
operations (a)
2014
Assets
Other assets $ 634
Total assets $ 634
2013
Assets
Other assets $ 516
Total assets $ 516
(a) Represents our joint venture interest in China, whose sale to GMF was completed on January 2, 2015.
3. Insurance Premiums and Service Revenue Earned
The following table is a summary of insurance premiums and service revenue written and earned.
2014 2013 2012
Year ended December 31, ($ in millions) Written Earned Written Earned Written Earned
Insurance premiums
Direct $ 294 $ 282 $ 270 $ 305 $ 332 $ 335
Assumed 43 54 61 58 44 49
Gross insurance premiums 337 336 331 363 376 384
Ceded (156) (117) (172) (120) (141) (109)
Net insurance premiums 181 219 159 243 235 275
Service revenue 842 760 838 769 826 780
Insurance premiums and service revenue written
and earned $ 1,023 $ 979 $ 997 $ 1,012 $ 1,061 $ 1,055
4. Other Income, Net of Losses
Details of other income, net of losses, were as follows.
Year ended December 31, ($ in millions) 2014 2013 2012
Remarketing fees $ 112 $82$63
Late charges and other administrative fees 88 94 83
Securitization income 13 23 45
Mortgage processing fees and other mortgage income —81 475
Fair value adjustment on derivatives (a) (31) 24 (30)
Other, net 98 79 101
Total other income, net of losses $ 280 $ 383 $ 737
(a) Refer to Note 22 for a description of derivative instruments and hedging activities.