Ally Financial Inc

For the period ended Jun 30, 2024. Filed Aug 5, 2024.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2024 · Filed Aug 5, 2024

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

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Contents

Item 1. Financial Statements

Condensed Consolidated Statement of Comprehensive Income (unaudited)

	Three months ended June 30,		Six months ended June 30,
($ in millions)	2024	2023	2024	2023
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$2,845	$2,721	$5,672	$5,296
Interest on loans held-for-sale	7	7	43	22
Interest and dividends on investment securities and other earning assets	265	247	531	485
Interest on cash and cash equivalents	88	87	185	143
Operating leases	333	392	689	794
Total financing revenue and other interest income	3,538	3,454	7,120	6,740
Interest expense
Interest on deposits	1,594	1,418	3,245	2,635
Interest on short-term borrowings	27	11	50	23
Interest on long-term debt	244	252	492	479
Interest on other	1	—	1	2
Total interest expense	1,866	1,681	3,788	3,139
Net depreciation expense on operating lease assets	177	200	381	426
Net financing revenue and other interest income	1,495	1,573	2,951	3,175
Other revenue
Insurance premiums and service revenue earned	341	310	686	616
Gain on mortgage and automotive loans, net	6	5	12	9
Other (loss) gain on investments, net	(7)	26	22	100
Other income, net of losses	165	165	315	279
Total other revenue	505	506	1,035	1,004
Total net revenue	2,000	2,079	3,986	4,179
Provision for credit losses	457	427	964	873
Noninterest expense
Compensation and benefits expense	442	448	961	985
Insurance losses and loss adjustment expenses	181	134	293	222
Other operating expenses	663	667	1,340	1,308
Total noninterest expense	1,286	1,249	2,594	2,515
Income from continuing operations before income tax (benefit) expense	257	403	428	791
Income tax (benefit) expense from continuing operations	(37)	74	(23)	142
Net income from continuing operations	294	329	451	649
Loss from discontinued operations, net of tax	—	—	—	(1)
Net income	294	329	451	648
Other comprehensive (loss) income, net of tax	(20)	(87)	(193)	196
Comprehensive income	$274	$242	$258	$844

Statement continues on the next page.

Condensed Consolidated Statement of Comprehensive Income (unaudited)

	Three months ended June 30,		Six months ended June 30,
($ in millions, except per share data; shares in thousands) (a)	2024	2023	2024	2023
Net income from continuing operations attributable to common stockholders	$266	$301	$395	$593
Loss from discontinued operations, net of tax	—	—	—	(1)
Net income attributable to common stockholders	$266	$301	$395	$592
Basic weighted-average common shares outstanding (b)	306,774	303,684	306,388	303,173
Diluted weighted-average common shares outstanding (b)	309,886	304,646	309,154	304,050
Basic earnings per common share
Net income from continuing operations	$0.87	$0.99	$1.29	$1.96
Net income	$0.87	$0.99	$1.29	$1.95
Diluted earnings per common share
Net income from continuing operations	$0.86	$0.99	$1.28	$1.95
Net income	$0.86	$0.99	$1.28	$1.95
Cash dividends declared per common share	$0.30	$0.30	$0.60	$0.60

(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 17 for additional earnings per share information. The Notes to the Condensed Consolidated Financial Statements (unaudited) 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.