Ally Bank 2012 Annual Report Download - page 86

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contract provisions regarding securitizations and sales. Refer to Note 28 to the Consolidated Financial Statements for more information
regarding our outstanding guarantees to third parties.
Aggregate Contractual Obligations
The following table provides aggregated information about our outstanding contractual obligations disclosed elsewhere in our
Consolidated Financial Statements.
Payments due by period
December 31, 2012 ($ in millions) Total Less than 1 year 1-3 years 3-5 years More than 5 years
Description of obligation
Long-term debt
Total (a) $ 75,307 $ 12,834 $ 32,881 $ 11,797 $ 17,795
Scheduled interest payments for fixed-rate long-term debt 23,123 2,473 4,410 3,004 13,236
Estimated interest payments for variable-rate long-term debt (b) 1,053 437 516 94 6
Estimated net payments under interest rate swap agreements (b) 68———68
Originate/purchase mortgages or securities 4,249 4,249 — — —
Commitments to provide capital to investees 86 80 2 3 1
Home equity lines of credit 411 — 4 38 369
Lending commitments 768 184 176 380 28
Lease commitments 252 70 112 47 23
Purchase obligations 511 253 159 74 25
Bank certificates of deposit 31,084 15,688 10,469 4,927 —
Total $ 136,912 $ 36,268 $ 48,729 $ 20,364 $ 31,551
(a) Total amount reflects the remaining principal obligation and excludes original issue discount of $1.8 billion and fair value adjustments of $1.1 billion
related to fixed-rate debt designated as a hedged item.
(b) Estimate utilized a forecasted variable interest model, when available, or the applicable variable interest rate as of the most recent reset date prior to
December 31, 2012.
The foregoing table does not include our reserves for insurance losses and loss adjustment expenses, which total $341 million at
December 31, 2012. While payments due on insurance losses are considered contractual obligations because they related to insurance policies
issued by us, the ultimate amount to be paid and the timing of payment for an insurance loss is an estimate subject to significant uncertainty.
Furthermore, the timing on payment is also uncertain; however, the majority of the balance is expected to be paid out in less than five years.
Similarly, due to uncertainty in the timing of future cash flows related to our unrecognized tax benefits, the contractual obligations detailed
above do not include $102 million in unrecognized tax benefits.
The following provides a description of the items summarized in the preceding table of contractual obligations.
Long-term Debt
Amounts represent the scheduled maturity of long-term debt at December 31, 2012, assuming that no early redemptions occur. The
maturity of secured debt may vary based on the payment activity of the related secured assets. The amounts presented are before the effect of
any unamortized discount or fair value adjustment. Refer to Note 15 and Note 16 to the Consolidated Financial Statements for additional
information on our debt obligations.
Originate/Purchase Mortgages or Securities
As part of our Mortgage operations, we enter into commitments to originate and purchase mortgages and MBS. Refer to Note 28 to the
Consolidated Financial Statements for additional information.
Commitments to Provide Capital to Investees
As part of arrangements with specific private equity funds, we are obligated to provide capital to investees. Refer to Note 28 to the
Consolidated Financial Statements for additional information.
Home Equity Lines of Credit
We are committed to fund the future remaining balance on unused lines of credit on mortgage loans. The funding is subject to customary
lending conditions, such as a satisfactory credit rating, delinquency status, and adequate home equity value. Refer to Note 28 to the
Consolidated Financial Statements for additional information.
Table of Contents
Management's Discussion and Analysis
Ally Financial Inc. • Form 10-K