Ally Bank 2012 Annual Report Download - page 93

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Statistical Table
The accompanying supplemental information should be read in conjunction with the more detailed information, including our
Consolidated Financial Statements and the notes thereto, which appears elsewhere in this Annual Report.
Net Interest Margin Table
The following table presents an analysis of net interest margin excluding discontinued operations for the periods shown.
2012 2011 2010
Year ended December 31, ($ in millions)Average
balance (a)
Interest
income/
interest
expense Yield/ rate Average
balance (a)
Interest
income/
interest
expense Yield/ rate Average balance (a)
Interest
income/
interest
expense Yield/ rate
Assets
Interest-bearing cash and cash equivalents $ 10,731 $ 26 0.24% $ 10,939 $ 21 0.19% $ 12,634 $ 34 0.27%
Trading assets 273 13 4.76 359 19 5.29 163 15 9.20
Investment securities (b) 12,336 262 2.12 13,100 326 2.49 10,200 306 3.00
Loans held-for-sale, net 4,406 155 3.52 9,062 332 3.66 13,165 587 4.46
Finance receivables and loans, net (c) (d) 95,715 4,603 4.81 84,392 4,409 5.22 67,296 4,475 6.65
Investment in operating leases, net (e) 11,185 980 8.76 7,968 988 12.40 8,827 1,332 15.09
Total interest-earning assets 134,646 6,039 4.49 125,820 6,095 4.84 112,285 6,749 6.01
Noninterest-bearing cash and cash
equivalents 1,917 1,180 427
Other assets 17,500 22,274 30,492
Allowance for loan losses (1,246) (1,543) (2,113)
Assets of discontinued operations (f) 30,924 33,106 35,594
Total assets $ 183,741 $ 180,837 $ 176,685
Liabilities
Interest-bearing deposit liabilities $ 42,440 $ 644 1.52% $ 37,423 $ 614 1.64% $ 30,456 $ 579 1.90%
Short-term borrowings 3,945 90 2.28 4,345 116 2.67 5,309 141 2.66
Long-term debt (g) (h) (i) 79,044 3,466 4.38 76,780 4,309 5.61 72,526 4,740 6.54
Total interest-bearing liabilities (g) (h) (j) 125,429 4,200 3.35 118,548 5,039 4.25 108,291 5,460 5.04
Noninterest-bearing deposit liabilities 2,261 2,237 2,070
Total funding sources (h) (k) 127,690 4,200 3.29 120,785 5,039 4.17 110,361 5,460 4.95
Other liabilities 6,207 6,877 10,068
Liabilities of discontinued operations (f) 30,924 33,106 35,594
Total liabilities 164,821 160,768 156,023
Total equity 18,920 20,069 20,662
Total liabilities and equity $ 183,741 $ 180,837 $ 176,685
Net financing revenue $ 1,839 $ 1,056 $ 1,289
Net interest spread (l) 1.14% 0.59% 0.97%
Net interest spread excluding original issue discount (l) 1.46% 1.43% 2.21%
Net interest spread excluding original issue discount and
including noninterest-bearing deposit liabilities (l) 1.51% 1.49% 2.28%
Net yield on interest-earning assets (m) 1.37% 0.84% 1.15%
Net yield on interest-earning assets excluding original issue
discount (m) 1.62% 1.56% 2.22%
(a) Average balances are calculated using a combination of monthly and daily average methodologies.
(b) Excludes income on equity investments of $30 million, $25 million, and $17 million at December 31, 2012, 2011, and 2010, respectively. Yields on available-for-sale debt
securities are based on fair value as opposed to historical cost.
(c) Nonperforming finance receivables and loans are included in the average balances. For information on our accounting policies regarding nonperforming status, refer to Note 1
to the Consolidated Financial Statements.
(d) Includes other interest income of $5 million, $5 million, and $3 million at December 31, 2012, 2011, and 2010, respectively.
(e) Includes gains on sale of $116 million, $217 million, and $555 million at December 31, 2012, 2011, and 2010, respectively. Excluding these gains on sale, the annualized yield
would be 7.72%, 9.68%, and 8.80% at December 31, 2012, 2011, and 2010, respectively.
(f) Average balances and rates are impacted by allocations made to match assets of discontinued operations with liabilities of discontinued operations.
(g) Includes the effects of derivative financial instruments designated as hedges.
(h) Average balance includes $1,927 million, $2,522 million, and $3,710 million related to original issue discount at December 31, 2012, 2011, and 2010, respectively. Interest
expense includes original issue discount amortization of $336 million, $912 million, and $1,204 million during the year ended December 31, 2012, 2011, and 2010,
respectively.
(i) Excluding original issue discount the rate on long-term debt was 3.87%, 4.28%, and 4.64% at December 31, 2012, 2011, and 2010, respectively.
(j) Excluding original issue discount the rate on total interest-bearing liabilities was 3.03%, 3.41%, and 3.80% at December 31, 2012, 2011, and 2010, respectively.
(k) Excluding original issue discount the rate on total funding sources was 2.98%, 3.35%, and 3.73% at December 31, 2012, 2011, and 2010, respectively.
(l) Net interest spread represents the difference between the rate on total interest-earning assets and the rate on total interest-bearing liabilities.
(m) Net yield on interest-earning assets represents net financing revenue as a percentage of total interest-earning assets.
Table of Contents
Management's Discussion and Analysis
Ally Financial Inc. • Form 10-K