Ally Bank 2012 Annual Report Download - page 197

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Year ended December 31, 2010 ($ in millions) Parent Guarantors Nonguarantors Consolidating adjustments Ally consolidated
Financing revenue and other interest income
Interest and fees on finance receivables and loans $ 938 $ — $ 3,538 $ (1) $ 4,475
Interest and fees on finance receivables and loans — intercompany 411 — 4 (415) —
Interest on loans held-for-sale 75 — 512 — 587
Interest on trading assets — — 15 — 15
Interest and dividends on available-for-sale investment securities 4 — 321 (2) 323
Interest and dividends on available-for-sale investment securities —
intercompany 112 — 9 (121) —
Interest-bearing cash 13 — 21 — 34
Operating leases 1,063 — 1,520 — 2,583
Total financing revenue and other interest income 2,616 — 5,940 (539) 8,017
Interest expense
Interest on deposits 52 — 527 — 579
Interest on short-term borrowings 43 — 98 — 141
Interest on long-term debt 3,735 (1) 1,026 (20) 4,740
Interest on intercompany debt (21) 2 417 (398) —
Total interest expense 3,809 1 2,068 (418) 5,460
Depreciation expense on operating lease assets 435 — 816 — 1,251
Net financing (loss) revenue (1,628) (1) 3,056 (121) 1,306
Dividends from subsidiaries
Nonbank subsidiaries 182 1 — (183) —
Other revenue
Servicing fees 434 — 1,055 (1) 1,488
Servicing asset valuation and hedge activities, net — — (394) — (394)
Total servicing income, net 434 — 661 (1) 1,094
Insurance premiums and service revenue earned — — 1,371 — 1,371
Gain on mortgage and automotive loans, net 31 — 1,208 — 1,239
Loss on extinguishment of debt (127) — (9) 12 (124)
Other gain on investments, net 6 — 502 (6) 502
Other income, net of losses (151) — 1,046 (561) 334
Total other revenue 193 — 4,779 (556) 4,416
Total net (loss) revenue (1,253) — 7,835 (860) 5,722
Provision for loan losses (200) — 557 — 357
Noninterest expense
Compensation and benefits expense 785 — 563 — 1,348
Insurance losses and loss adjustment expenses — — 547 — 547
Other operating expenses 744 — 2,930 (596) 3,078
Total noninterest expense 1,529 — 4,040 (596) 4,973
(Loss) income from continuing operations before income tax
(benefit) expense and undistributed income of subsidiaries (2,582) — 3,238 (264) 392
Income tax (benefit) expense from continuing operations (574) — 678 — 104
Net (loss) income from continuing operations (2,008) — 2,560 (264) 288
Income from discontinued operations, net of tax 150 3 592 (4) 741
Undistributed income of subsidiaries
Bank subsidiary 902 902 — (1,804) —
Nonbank subsidiaries 1,985 259 — (2,244) —
Net income $ 1,029 $ 1,164 $ 3,152 $ (4,316) $ 1,029
Table of Contents
Notes to Consolidated Financial Statements
Ally Financial Inc. • Form 10-K