Ally Bank 2014 Annual Report Download - page 164
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Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10-K
152
Year ended December 31, 2012 ($ in millions) Parent Guarantors Nonguarantors
Consolidating
adjustments
Ally
consolidated
Financing revenue and other interest income
Interest and fees on finance receivables and loans $ 852 $ — $ 3,687 $ — $ 4,539
Interest and fees on finance receivables and loans — intercompany 104 — 22 (126) —
Interest on loans held-for-sale 15 — 83 — 98
Interest on trading assets — — 10 — 10
Interest and dividends on available-for-sale investment securities — — 292 — 292
Interest-bearing cash 16 — 8 — 24
Interest-bearing cash — intercompany — — 16 (16) —
Operating leases 232 — 2,147 — 2,379
Total financing revenue and other interest income 1,219 — 6,265 (142) 7,342
Interest expense
Interest on deposits 58 — 587 — 645
Interest on short-term borrowings 60 — 11 — 71
Interest on long-term debt 2,676 — 677 (17) 3,336
Interest on intercompany debt (1) 1 120 (120) —
Total interest expense 2,793 1 1,395 (137) 4,052
Depreciation expense on operating lease assets 113 — 1,286 — 1,399
Net financing (loss) revenue (1,687) (1) 3,584 (5) 1,891
Dividends from subsidiaries
Nonbank subsidiaries 1,074 448 — (1,522) —
Other revenue
Servicing fees 191 — 218 — 409
Servicing asset valuation and hedge activities, net — — (4) — (4)
Total servicing income, net 191 — 214 — 405
Insurance premiums and service revenue earned — — 1,055 — 1,055
(Loss) gain on mortgage and automotive loans, net (2) — 381 — 379
Loss on extinguishment of debt — — (148) — (148)
Other gain on investments, net — — 146 — 146
Other income, net of losses 173 474 1,280 (1,190) 737
Total other revenue 362 474 2,928 (1,190) 2,574
Total net (loss) revenue (251) 921 6,512 (2,717) 4,465
Provision for loan losses 81 — 248 — 329
Noninterest expense
Compensation and benefits expense 812 473 297 (476) 1,106
Insurance losses and loss adjustment expenses — — 454 — 454
Other operating expenses 1,532 1 1,243 (714) 2,062
Total noninterest expense 2,344 474 1,994 (1,190) 3,622
(Loss) income from continuing operations before income tax
(benefit) expense and undistributed income (loss) of
subsidiaries (2,676) 447 4,270 (1,527) 514
Income tax (benefit) expense from continuing operations (2,389) — 1,533 — (856)
Net (loss) income from continuing operations (287) 447 2,737 (1,527) 1,370
Income (loss) from discontinued operations, net of tax 49 (93) (130) — (174)
Undistributed income (loss) of subsidiaries
Bank subsidiary 859 859 — (1,718) —
Nonbank subsidiaries 575 (105) — (470) —
Net income 1,196 1,108 2,607 (3,715) 1,196
Other comprehensive income, net of tax 224 149 463 (612) 224
Comprehensive income $ 1,420 $ 1,257 $ 3,070 $ (4,327) $ 1,420