Ally Bank 2012 Annual Report Download - page 105
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103
Year ended December 31, ($ in millions) 2012 2011 2010
Financing revenue and other interest income
Interest and fees on finance receivables and loans $ 4,603 $ 4,409 $ 4,475
Interest on loans held-for-sale 155 332 587
Interest on trading assets 13 19 15
Interest and dividends on available-for-sale investment securities 292 351 323
Interest-bearing cash 26 21 34
Operating leases 2,379 1,929 2,583
Total financing revenue and other interest income 7,468 7,061 8,017
Interest expense
Interest on deposits 644 614 579
Interest on short-term borrowings 90 116 141
Interest on long-term debt 3,466 4,309 4,740
Total interest expense 4,200 5,039 5,460
Depreciation expense on operating lease assets 1,399 941 1,251
Net financing revenue 1,869 1,081 1,306
Other revenue
Servicing fees 701 1,358 1,488
Servicing asset valuation and hedge activities, net (8) (789) (394)
Total servicing income, net 693 569 1,094
Insurance premiums and service revenue earned 1,059 1,170 1,371
Gain on mortgage and automotive loans, net 532 470 1,239
Loss on extinguishment of debt (148) (64) (124)
Other gain on investments, net 146 259 502
Other income, net of losses 747 493 334
Total other revenue 3,029 2,897 4,416
Total net revenue 4,898 3,978 5,722
Provision for loan losses 329 188 357
Noninterest expense
Compensation and benefits expense 1,365 1,322 1,348
Insurance losses and loss adjustment expenses 461 483 547
Other operating expenses 3,498 2,936 3,078
Total noninterest expense 5,324 4,741 4,973
(Loss) income from continuing operations before income tax expense (755) (951) 392
Income tax (benefit) expense from continuing operations (1,284) 51 104
Net income (loss) from continuing operations 529 (1,002) 288
Income from discontinued operations, net of tax 667 845 741
Net income (loss) $ 1,196 $ (157) $ 1,029
Statement continues on the next page.
The Notes to the Consolidated Financial Statements are an integral part of these statements.
Table of Contents
Consolidated Statement of Income
Ally Financial Inc. • Form 10-K