Ally Financial Inc

For the period ended Dec 31, 2023. Filed Feb 20, 2024.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 20, 2024

ALLY$38.53+0.9%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statement of Income

Year ended December 31, ($ in millions)	2023	2022	2021
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$11,020	$8,099	$6,468
Interest on loans held-for-sale	34	31	18
Interest and dividends on investment securities and other earning assets	1,022	841	600
Interest on cash and cash equivalents	332	54	15
Operating leases	1,550	1,596	1,550
Total financing revenue and other interest income	13,958	10,621	8,651
Interest expense
Interest on deposits	5,819	1,987	1,045
Interest on short-term borrowings	73	107	1
Interest on long-term debt	1,001	763	860
Interest on other	4	—	8
Total interest expense	6,897	2,857	1,914
Net depreciation expense on operating lease assets	860	914	570
Net financing revenue and other interest income	6,201	6,850	6,167
Other revenue
Insurance premiums and service revenue earned	1,271	1,151	1,117
Gain on mortgage and automotive loans, net	16	52	87
Loss on extinguishment of debt	—	—	(136)
Other gain (loss) on investments, net	144	(120)	285
Other income, net of losses	582	495	686
Total other revenue	2,013	1,578	2,039
Total net revenue	8,214	8,428	8,206
Provision for credit losses	1,968	1,399	241
Noninterest expense
Compensation and benefits expense	1,901	1,900	1,643
Insurance losses and loss adjustment expenses	422	280	261
Goodwill impairment	149	—	—
Other operating expenses	2,691	2,507	2,206
Total noninterest expense	5,163	4,687	4,110
Income from continuing operations before income tax expense	1,083	2,342	3,855
Income tax expense from continuing operations	61	627	790
Net income from continuing operations	1,022	1,715	3,065
Loss from discontinued operations, net of tax	(2)	(1)	(5)
Net income	$1,020	$1,714	$3,060

Statement continues on the next page.

Consolidated Statement of Income

Year ended December 31, ($ in millions, except per share data; shares in thousands) (a)	2023	2022	2021
Net income from continuing operations attributable to common stockholders	$912	$1,605	$3,008
Loss from discontinued operations, net of tax	(2)	(1)	(5)
Net income attributable to common stockholders	$910	$1,604	$3,003
Basic weighted-average common shares outstanding (b)	303,751	316,690	362,583
Diluted weighted-average common shares outstanding (b)	305,135	318,629	365,180
Basic earnings per common share
Net income from continuing operations	$3.00	$5.07	$8.30
Loss from discontinued operations, net of tax	(0.01)	—	(0.01)
Net income	$3.00	$5.06	$8.28
Diluted earnings per common share
Net income from continuing operations	$2.99	$5.04	$8.24
Loss from discontinued operations, net of tax	(0.01)	—	(0.01)
Net income	$2.98	$5.03	$8.22
Cash dividends declared per common share	$1.20	$1.20	$0.88

(a)Figures in the table may not recalculate exactly due to rounding. Earnings per share is calculated based on unrounded numbers.

(b)Includes shares related to share-based compensation that vested but were not yet issued.

Refer to Note 19 for additional earnings per share information. The Notes to the Consolidated Financial Statements are an integral part of these statements.

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.