Ally Bank 2014 Annual Report Download - page 163
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Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10-K
151
Year ended December 31, 2013 ($ in millions) Parent Guarantors Nonguarantors
Consolidating
adjustments
Ally
consolidated
Financing revenue and other interest income
Interest and fees on finance receivables and loans $ 771 $ — $ 3,758 $ — $ 4,529
Interest and fees on finance receivables and loans — intercompany 59 — 68 (127) —
Interest on loans held-for-sale — — 20 — 20
Interest and dividends on available-for-sale investment securities — — 325 — 325
Interest-bearing cash 3 — 7 — 10
Interest-bearing cash — intercompany — — 7 (7) —
Operating leases 500 — 2,709 — 3,209
Total financing revenue and other interest income 1,333 — 6,894 (134) 8,093
Interest expense
Interest on deposits 25 — 629 — 654
Interest on short-term borrowings 46 — 17 — 63
Interest on long-term debt 2,039 — 568 (5) 2,602
Interest on intercompany debt 66 — 62 (128) —
Total interest expense 2,176 — 1,276 (133) 3,319
Depreciation expense on operating lease assets 369 — 1,626 — 1,995
Net financing (loss) revenue (1,212) — 3,992 (1) 2,779
Dividends from subsidiaries
Nonbank subsidiaries 5,732 3,659 — (9,391) —
Other revenue
Servicing fees 152 — (26) — 126
Servicing asset valuation and hedge activities, net — — (213) — (213)
Total servicing income (loss), net 152 — (239) — (87)
Insurance premiums and service revenue earned — — 1,012 — 1,012
Gain on mortgage and automotive loans, net — — 55 — 55
(Loss) gain on extinguishment of debt (61) — 2 — (59)
Other gain on investments, net — — 180 — 180
Other income, net of losses 157 — 1,438 (1,212) 383
Total other revenue 248 — 2,448 (1,212) 1,484
Total net revenue 4,768 3,659 6,440 (10,604) 4,263
Provision for loan losses 196 — 305 — 501
Noninterest expense
Compensation and benefits expense 640 — 821 (442) 1,019
Insurance losses and loss adjustment expenses — — 405 — 405
Other operating expenses 501 — 2,250 (770) 1,981
Total noninterest expense 1,141 — 3,476 (1,212) 3,405
Income from continuing operations before income tax (benefit)
expense and undistributed income (loss) of subsidiaries 3,431 3,659 2,659 (9,392) 357
Income tax (benefit) expense from continuing operations (969) — 910 — (59)
Net income from continuing operations 4,400 3,659 1,749 (9,392) 416
(Loss) income from discontinued operations, net of tax (1,321) (19) 1,284 1 (55)
Undistributed income (loss) of subsidiaries
Bank subsidiary 883 883 — (1,766) —
Nonbank subsidiaries (3,601) (2,393) — 5,994 —
Net income 361 2,130 3,033 (5,163) 361
Other comprehensive loss, net of tax (587) (812) (873) 1,685 (587)
Comprehensive (loss) income $ (226) $ 1,318 $ 2,160 $ (3,478) $ (226)