EX-99.3

EX-99.3 4 d891549dex993.htm EX-99.3 EX-99.3

Exhibit 99.3

LOGO

FOURTH QUARTER 2024

FINANCIAL SUPPLEMENT

ALLY FINANCIAL INC.

FORWARD-LOOKING STATEMENTS AND ADDITIONAL INFORMATION

This document and related communications should be read in conjunction with the financial statements, notes, and other information contained in our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, and Current Reports on Form 8-K. This information is preliminary and based on company and third-party data available at the time of the presentation or related communication.

This document and related communications contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts—such as statements about the outlook for financial and operating metrics, and future capital allocation and actions. Forward-looking statements often use words such as “believe,” “expect,” “anticipate,” “intend,” “pursue,” “seek,” “continue,” “estimate,” “project,” “outlook,” “forecast,” “potential,” “target,” “objective,” “trend,” “plan,” “goal,” “initiative,” “priorities,” or other words of comparable meaning or future-tense or conditional verbs such as “may,” “will,” “should,” “would,” or “could.” Forward-looking statements convey our expectations, intentions, or forecasts about future events, circumstances, or results. All forward-looking statements, by their nature, are subject to assumptions, risks, and uncertainties, which may change over time and many of which are beyond our control. You should not rely on any forward-looking statement as a prediction or guarantee about the future. Actual future objectives, strategies, plans, prospects, performance, conditions, or results may differ materially from those set forth in any forward-looking statement. Some of the factors that may cause actual results or other future events or circumstances to differ from those in forward-looking statements are described in our Annual Report on Form 10-K for the year ended December 31, 2023, our subsequent Quarterly Reports on Form 10-Q or Current Reports on Form 8-K, or other applicable documents that are filed or furnished with the U.S. Securities and Exchange Commission (collectively, our “SEC filings”). Any forward-looking statement made by us or on our behalf speaks only as of the date that it was made. We do not undertake to update any forward-looking statement to reflect the impact of events, circumstances, or results that arise after the date that the statement was made, except as required by applicable securities laws. You, however, should consult further disclosures (including disclosures of a forward-looking nature) that we may make in any subsequent SEC filings.

This document and related communications contain specifically identified non-GAAP financial measures, which supplement the results that are reported according to U.S. generally accepted accounting principles (“GAAP”). These non-GAAP financial measures may be useful to investors but should not be viewed in isolation from, or as a substitute for, GAAP results. Differences between non-GAAP financial measures and comparable GAAP financial measures are reconciled in the presentation.

Unless the context otherwise requires, the following definitions apply. The term “loans” means the following consumer and commercial products associated with our direct and indirect financing activities: loans, retail installment sales contracts, lines of credit, and other financing products excluding operating leases. The term “operating leases” means consumer- and commercial-vehicle lease agreements where Ally is the lessor and the lessee is generally not obligated to acquire ownership of the vehicle at lease-end or compensate Ally for the vehicle’s residual value. The terms “lend,” “finance,” and “originate” mean our direct extension or origination of loans, our purchase or acquisition of loans, or our purchase of operating leases, as applicable. The term “consumer” means all consumer products associated with our loan and operating-lease activities and all commercial retail installment sales contracts. The term “commercial” means all commercial products associated with our loan activities, other than commercial retail installment sales contracts. The term “partnerships” means business arrangements rather than partnerships as defined by law.

ALLY FINANCIAL INC.

TABLE OF CONTENTS


	Page(s)
Consolidated Results
Consolidated Financial Highlights		4
Consolidated Income Statement		5
Consolidated Period-End Balance Sheet		6
Consolidated Average Balance Sheet		7

Segment Detail
Segment Highlights		8
Automotive Finance		9-10
Insurance		11
Corporate Finance		12
Corporate and Other		13

Credit Related Information		14-15

Supplemental Detail
Capital		16
Liquidity and Deposits		17
Net Interest Margin		18
Earnings Per Share Related Information		19
Adjusted Tangible Book Per Share Related Information		20
Core ROTCE Related Information		21
Adjusted Efficiency Ratio Related Information		22

ALLY FINANCIAL INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS


($in millions, shares in thousands)	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23			FY 2024			FY 2023			CHANGE
Selected Income Statement Data
Net financing revenue		1,509			1,520			1,517			1,468			1,502			(11	)		7			6,014			6,221			(207	)
Core OID ⁽¹⁾		15			14			14			13			13			1			2			56			48			8
Net financing revenue (excluding Core OID) ⁽¹⁾		1,524			1,534			1,531			1,481			1,515			(10	)		9			6,070			6,269			(199	)
Other revenue		517			615			505			530			574			(98	)		(57	)		2,167			2,013			154
Change in fair value of equity securities ⁽²⁾		47			(59	)		28			(11	)		(74	)		106			121			6			(107	)		113
Adjusted other revenue ⁽¹⁾		564			556			533			519			500			8			64			2,173			1,906			267
Provision for credit losses		557			645			457			507			587			(88	)		(30	)		2,166			1,968			198
Repositioning		—			—			—			—			16			—			(16	)		—			16			(16	)
Adjusted provision for credit losses ⁽¹⁾		557			645			457			507			603			(88	)		(46	)		2,166			1,984			182
Total noninterest expense ⁽³⁾		1,360			1,225			1,286			1,308			1,416			135			(56	)		5,179			5,163			16
Repositioning		(140	)		—			—			(10	)		(187	)		(140	)		47			(150	)		(217	)		67
Noninterest expense (ex. Repositioning) ⁽¹⁾		1,220			1,225			1,286			1,298			1,229			(5	)		(9	)		5,029			4,946			83

Pre-tax income from continuing operations		109			265			279			183			73			(156	)		36			836			1,103			(267	)
Income tax expense (benefit)		—			67			60			40			10			(67	)		(10	)		167			144			23
(Loss) from discontinued operations, net of tax		(1	)		—			—			—			(1	)		(1	)		—			(1	)		(2	)		1

Net Income	$	108		$	198		$	219		$	143		$	62		$	(90	)	$	46		$	668		$	957		$	(289	)
Preferred Dividends		27			27			28			28			27			—			—			110			110			—

Net income attributable to common shareholders	$	81		$	171		$	191		$	115		$	35		$	(90	)	$	46		$	558		$	847		$	(289	)

Selected Balance Sheet Data (Period-End)
Total assets	$	191,836		$	192,670		$	192,379		$	192,800		$	196,329		$	(834	)	$	(4,493	)
Consumer loans		103,285			103,095			103,585			103,809			104,977			190			(1,692	)
Commercial loans		32,745			34,406			35,198			34,151			34,462			(1,661	)		(1,717	)
Allowance for loan losses		(3,714	)		(3,700	)		(3,572	)		(3,550	)		(3,587	)		(14	)		(127	)
Deposits		151,574			151,950			152,154			155,084			154,666			(376	)		(3,092	)
Total equity		13,903			14,414			13,699			13,580			13,703			(511	)		200
Common Share Count
Weighted average basic		307,553			307,312			306,774			306,003			304,506			241			3,047			306,913			303,751			3,162
Weighted average diluted		311,277			311,044			309,886			308,421			306,730			233			4,547			310,160			305,135			5,025
Issued shares outstanding (period-end)		305,388			304,715			304,656			303,978			302,459			673			2,928
Per Common Share Data
Earnings per share (basic)	$	0.26		$	0.55		$	0.63		$	0.38		$	0.11		$	(0.29	)	$	0.15		$	1.82		$	2.79		$	(0.97	)
Earnings per share (diluted)		0.26			0.55			0.62			0.37			0.11			(0.29	)		0.14			1.80			2.77			(0.98	)
Adjusted earnings per share ⁽¹⁾		0.78			0.43			0.73			0.41			0.40			0.35			0.39			2.35			2.84			(0.49	)
Book value per share		37.92			39.68			37.34			37.03			37.62			(1.76	)		0.29
Tangible book value per share		35.94			37.36			35.00			34.66			35.22			(1.42	)		0.72
Adjusted tangible book value per share ⁽¹⁾		34.04			35.41			33.01			32.63			33.15			(1.37	)		0.89
Select Financial Ratios
Net interest margin		3.30	%		3.29	%		3.32	%		3.16	%		3.19	%								3.27	%		3.33	%
Net interest margin (ex. Core OID) ⁽¹⁾		3.33	%		3.32	%		3.36	%		3.19	%		3.22	%								3.30	%		3.36	%
Cost of funds		4.25	%		4.42	%		4.39	%		4.44	%		4.35	%								4.37	%		3.97	%
Cost of funds (ex. Core OID) ⁽¹⁾		4.19	%		4.36	%		4.34	%		4.38	%		4.29	%								4.32	%		3.92	%
Efficiency Ratio		67.1	%		57.4	%		63.6	%		65.5	%		68.2	%								63.3	%		62.7	%
Adjusted efficiency ratio ⁽¹⁾		52.8	%		51.1	%		52.7	%		59.8	%		55.4	%								54.1	%		53.8	%
Return on average assets		0.2	%		0.4	%		0.4	%		0.2	%		0.1	%								0.3	%		0.4	%
Return on average total equity		2.3	%		4.9	%		5.6	%		3.4	%		1.1	%								4.0	%		6.4	%
Return on average tangible common equity		2.9	%		6.2	%		7.2	%		4.3	%		1.4	%								5.1	%		8.4	%
Core ROTCE ⁽¹⁾		11.3	%		6.2	%		10.7	%		5.9	%		6.2	%								8.5	%		10.8	%
Capital Ratios ⁽⁴⁾
Common Equity Tier 1 (CET1) capital ratio		9.8	%		9.8	%		9.6	%		9.4	%		9.4	%
Tier 1 capital ratio		11.3	%		11.2	%		11.0	%		10.8	%		10.8	%
Total capital ratio		13.2	%		12.9	%		12.7	%		12.5	%		12.4	%
Tier 1 leverage ratio		8.9	%		9.0	%		8.8	%		8.6	%		8.7	%

(1)

Represents a non-GAAP financial measure. For more details refer to pages 19-25.

(2)

For more details refer to pages 23-25.

(3)

Including but not limited to employee related expenses, commissions and provision for losses and loss adjustment expense related to the insurance business, information technology expenses, servicing expenses, facilities expenses, marketing expenses, and other professional and legal expenses.

(4)

For more details on the final rules to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, to delay and subsequently phase-in its impact, see page 24.

Note: Prior period results for 2023 and 2024 have been retrospectively adjusted to reflect a change in the method of accounting with respect to the recognition of investment tax credits obtained in connection with our electric vehicle lease originations from the flow-through method of accounting to the deferral method of accounting. See pages 24-25 of the 4Q24 Earnings Presentation for a full reconciliation of the deferral vs. flow-through accounting method. Historical regulatory capital, ratios, and RWA have not been recast in relation to the accounting method change.

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

CONSOLIDATED INCOME STATEMENT


	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
($ in millions)	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23			FY 2024			FY 2023			CHANGE
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$	2,833		$	2,889		$	2,845		$	2,827		$	2,887		$	(56	)	$	(54	)	$	11,394		$	11,020		$	374
Interest on loans held-for-sale		2			5			7			36			5			(3	)		(3	)		50			34			16
Total interest and dividends on investment securities		233			253			255			255			260			(20	)		(27	)		996			980			16
Interest-bearing cash		99			102			88			97			90			(3	)		9			386			332			54
Other earning assets		11			9			10			11			10			2			1			41			42			(1	)
Operating leases		350			348			354			368			380			2			(30	)		1,420			1,570			(150	)

Total financing revenue and other interest income		3,528			3,606			3,559			3,594			3,632			(78	)		(104	)		14,287			13,978			309
Interest expense
Interest on deposits		1,527			1,616			1,594			1,651			1,621			(89	)		(94	)		6,388			5,819			569
Interest on short-term borrowings		3			13			27			23			37			(10	)		(34	)		66			73			(7	)
Interest on long-term debt		269			256			244			248			248			13			21			1,017			1,001			16
Interest on other		—			—			1			—			2			—			(2	)		1			4			(3	)

Total interest expense		1,799			1,885			1,866			1,922			1,908			(86	)		(109	)		7,472			6,897			575
Depreciation expense on operating lease assets		220			201			176			204			222			19			(2	)		801			860			(59	)

Net financing revenue	$	1,509		$	1,520		$	1,517		$	1,468		$	1,502		$	(11	)	$	7		$	6,014		$	6,221		$	(207	)
Other revenue
Insurance premiums and service revenue earned		368			359			341			345			335			9			33			1,413			1,271			142
Gain on mortgage and automotive loans, net		6			6			6			6			3			—			3			24			16			8
Other gain / (loss) on investments, net		(24	)		74			(7	)		29			85			(98	)		(109	)		72			144			(72	)
Other income, net of losses		167			176			165			150			151			(9	)		16			658			582			76

Total other revenue		517			615			505			530			574			(98	)		(57	)		2,167			2,013			154
Total net revenue		2,026			2,135			2,022			1,998			2,076			(109	)		(50	)		8,181			8,234			(53	)
Provision for loan losses		557			645			457			507			587			(88	)		(30	)		2,166			1,968			198
Noninterest expense
Compensation and benefits expense		446			435			442			519			453			11			(7	)		1,842			1,901			(59	)
Insurance losses and loss adjustment expenses		116			135			181			112			93			(19	)		23			544			422			122
Goodwill impairment		118			—			—			—			149			118			(31	)		118			149			(31	)
Other operating expenses		680			655			663			677			721			25			(41	)		2,675			2,691			(16	)

Total noninterest expense		1,360			1,225			1,286			1,308			1,416			135			(56	)		5,179			5,163			16
Pre-tax income from continuing operations	$	109		$	265		$	279		$	183		$	73		$	(156	)	$	36		$	836		$	1,103		$	(267	)
Income tax (benefit) / expense from continuing operations		—			67			60			40			10			(67	)		(10	)		167			144			23

Net income from continuing operations		109			198			219			143			63			(89	)		46			669			959			(290	)
Loss from discontinued operations, net of tax		(1	)		—			—			—			(1	)		(1	)		—			(1	)		(2	)		1

Net income	$	108		$	198		$	219		$	143		$	62		$	(90	)	$	46		$	668		$	957		$	(289	)
Preferred Dividends		27			27			28			28			27			—			—			110			110			—

Net income available to common shareholders	$	81		$	171		$	191		$	115		$	35		$	(90	)	$	46		$	558		$	847		$	(289	)

Core pre-tax Income walk
Net financing revenue	$	1,509		$	1,520		$	1,517		$	1,468		$	1,502		$	(11	)	$	7		$	6,014		$	6,221		$	(207	)
Other revenue		517			615			505			530			574			(98	)		(57	)		2,167			2,013			154
Provision for credit losses		557			645			457			507			587			(88	)		(30	)		2,166			1,968			198
Total noninterest expense		1,360			1,225			1,286			1,308			1,416			135			(56	)		5,179			5,163			16

Pre-tax income from continuing operations	$	109		$	265		$	279		$	183		$	73		$	(156	)	$	36		$	836		$	1,103		$	(267	)
Core OID ⁽¹⁾		15			14			14			13			13			1			2			56			48			8
Change in the fair value of equity securities ⁽²⁾		47			(59	)		28			(11	)		(74	)		106			121			6			(107	)		113
Repositioning ⁽²⁾		140			—			—			10			172			140			(32	)		150			201			(52	)

Core pre-tax income ⁽¹⁾	$	310		$	220		$	321		$	195		$	183		$	90		$	127		$	1,047		$	1,246		$	(198	)

(1)

Represents a non-GAAP financial measure. For more details refer to pages 19-25.

(2)

For more details refer to pages 23-25.

Note:

Numbers may not foot due to rounding

ALLY FINANCIAL INC.

CONSOLIDATED PERIOD-END BALANCE SHEET


($ in millions)	QUARTERLY TRENDS															CHANGE VS.
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23
Assets
Cash and cash equivalents
Noninterest-bearing	$	522		$	544		$	536		$	589		$	638		$	(22	)	$	(116	)
Interest-bearing		9,770			8,072			6,833			7,564			6,307			1,698			3,463

Total cash and cash equivalents		10,292			8,616			7,369			8,153			6,945			1,676			3,347
Investment securities ⁽¹⁾		27,627			29,223			28,602			29,127			29,905			(1,596	)		(2,278	)
Loans held-for-sale, net		160			306			316			358			400			(146	)		(240	)
Finance receivables and loans, net		136,030			137,501			138,783			137,960			139,439			(1,471	)		(3,409	)
Allowance for loan losses		(3,714	)		(3,700	)		(3,572	)		(3,550	)		(3,587	)		(14	)		(127	)

Total finance receivables and loans, net		132,316			133,801			135,211			134,410			135,852			(1,485	)		(3,536	)
Investment in operating leases, net		7,991			7,967			8,126			8,582			9,085			24			(1,094	)
Premiums receivable and other insurance assets		2,790			2,810			2,806			2,750			2,749			(20	)		41
Other assets		10,660			9,947			9,949			9,420			9,418			713			1,242
Assets of operations held-for-sale ⁽²⁾		—			—			—			—			1,975			—			(1,975	)

Total assets	$	191,836		$	192,670		$	192,379		$	192,800		$	196,329		$	(834	)	$	(4,493	)

Liabilities
Deposit liabilities
Noninterest-bearing	$	131		$	174		$	156		$	137		$	139		$	(43	)	$	(8	)
Interest-bearing		151,443			151,776			151,998			154,947			154,527			(333	)		(3,084	)

Total deposit liabilities		151,574			151,950			152,154			155,084			154,666			(376	)		(3,092	)
Short-term borrowings		1,625			1,771			3,122			—			3,297			(146	)		(1,672	)
Long-term debt		17,495			16,807			15,979			17,011			17,570			688			(75	)
Interest payable		890			1,425			1,148			1,118			858			(535	)		32
Unearned insurance premiums and service revenue		3,535			3,534			3,496			3,480			3,492			1			43
Accrued expense and other liabilities		2,814			2,769			2,781			2,527			2,726			45			88
Liabilities of operations held-for-sale		—			—			—			—			17			—			(17	)

Total liabilities	$	177,933		$	178,256		$	178,680		$	179,220		$	182,626		$	(323	)	$	(4,693	)
Equity
Common stock and paid-in capital ⁽³⁾	$	15,233		$	15,199		$	15,176		$	15,134		$	15,104		$	34		$	129
Preferred stock		2,324			2,324			2,324			2,324			2,324			—			—
Retained earnings		270			284			208			111			91			(14	)		179
Accumulated other comprehensive loss		(3,924	)		(3,393	)		(4,009	)		(3,989	)		(3,816	)		(531	)		(108	)

Total equity		13,903			14,414			13,699			13,580			13,703			(511	)		200

Total liabilities and equity	$	191,836		$	192,670		$	192,379		$	192,800		$	196,329		$	(834	)	$	(4,493	)

(1)

Includes Held-to-maturity securities.

(2)

Unsecured lending from point-of-sale financing. Moved to Assets of Operations Held-For-Sale (HFS) on 12/31/23. Sale of Ally Lending closed on 03/01/24.

(3)

Includes Treasury stock.

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

CONSOLIDATED AVERAGE BALANCE SHEET (1)


($ in millions)
	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23			FY 2024			FY 2023			CHANGE
Assets
Interest-bearing cash and cash equivalents	$	8,721		$	7,867		$	7,276		$	7,709		$	7,571		$	854		$	1,150		$	7,895		$	7,261		$	634
Investment securities and other earning assets		28,894			29,695			29,233			29,939			29,407			(801	)		(513	)		29,439			30,861			(1,422	)
Loans held-for-sale, net		123			267			220			382			237			(144	)		(114	)		248			417			(169	)
Total finance receivables and loans, net ⁽²⁾⁽⁵⁾		136,636			137,625			138,322			139,945			140,326			(989	)		(3,690	)		138,127			138,136			(9	)
Investment in operating leases, net		7,794			8,038			8,417			8,848			9,342			(244	)		(1,548	)		8,133			9,901			(1,768	)

Total interest earning assets		182,168			183,492			183,468			186,823			186,883			(1,324	)		(4,715	)		183,842			186,576			(2,734	)
Noninterest-bearing cash and cash equivalents		278			266			360			309			257			12			21			303			322			(19	)
Other assets		11,772			11,711			11,720			11,484			11,661			61			111			11,732			11,049			683
Allowance for loan losses		(3,714	)		(3,584	)		(3,557	)		(3,589	)		(3,801	)		(130	)		87			(3,611	)		(3,782	)		171

Total assets	$	190,504		$	191,885		$	191,991		$	195,027		$	195,000		$	(1,381)		$	(4,496	)	$	192,266		$	194,165		$	(1,899	)

Liabilities
Interest-bearing deposit liabilities
Retail deposit liabilities	$	141,868		$	141,286		$	142,949		$	143,491		$	140,117		$	582		$	1,751		$	142,394		$	138,968		$	3,426
Other interest-bearing deposit liabilities ⁽³⁾		9,476			10,789			9,316			11,712			13,391			(1,313	)		(3,915	)		10,322			13,947			(3,625	)

Total Interest-bearing deposit liabilities		151,344			152,075			152,265			155,203			153,508			(731	)		(2,164	)		152,716			152,915			(199	)
Short-term borrowings		239			994			2,254			1,726			2,714			(755	)		(2,475	)		1,300			1,383			(83	)
Long-term debt ⁽⁴⁾		16,954			16,597			16,367			17,309			17,933			357			(979	)		16,806			19,226			(2,420	)

Total interest-bearing liabilities ⁽⁴⁾		168,537			169,666			170,886			174,238			174,155			(1,129	)		(5,618	)		170,822			173,524			(2,702	)
Noninterest-bearing deposit liabilities		158			166			147			149			164			(8	)		(6	)		155			172			(17	)
Other liabilities		7,757			7,619			7,231			7,021			7,826			138			(69	)		7,408			6,940			468

Total liabilities	$	176,452		$	177,451		$	178,264		$	181,408		$	182,145		$	(999	)	$	(5,693	)	$	178,385		$	180,636		$	(2,251	)
Equity
Total equity	$	14,052		$	14,434		$	13,727		$	13,619		$	12,855		$	(382	)	$	1,197		$	13,881		$	13,529		$	352

Total liabilities and equity	$	190,504		$	191,885		$	191,991		$	195,027		$	195,000		$	(1,381)		$	(4,496	)	$	192,266		$	194,165		$	(1,899	)

(1)

Average balances are calculated using a combination of monthly and daily average methodologies.

(2)

Nonperforming finance receivables and loans are included in the average balances net of unearned income, unamortized premiums and discounts, and deferred fees and costs.

(3)

Includes brokered (inclusive of sweep deposits) and other deposits.

(4)

Includes average Core OID balance of $744 million in 4Q24, $759 million in 3Q24, $773 million in 2Q24, $786 million in 1Q24, and $799 million in 4Q23.

(5)

Includes the effects of finance receivables and loans, net that were transferred to loans held-for-sale, net and subsequently transferred to assets of operations held-for-sale as of December 31, 2023.

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

SEGMENT HIGHLIGHTS

($ in millions)


	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
Pre-tax Income / (Loss)	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23			FY 2024			FY 2023			CHANGE
Automotive Finance	$	397		$	355		$	584		$	480		$	466		$	42		$	(69	)	$	1,816		$	2,214		$	(398	)
Insurance		36			102			(40	)		70			127			(66	)		(91	)		168			216			(48	)

Dealer Financial Services		433			457			544			550			593			(24	)		(160	)		1,984			2,430			(446	)
Corporate Finance		120			105			109			100			92			15			28			434			354			80
Corporate and Other ⁽¹⁾		(444	)		(297	)		(374	)		(467	)		(612	)		(147	)		168			(1,582	)		(1,681	)		99

Pre-tax income from continuing operations	$	109		$	265		$	279		$	183		$	73		$	(156	)	$	36		$	836		$	1,103		$	(267	)
Core OID ⁽²⁾⁽⁴⁾		15			14			14			13			13			1			2			56			48			8
Change in the fair value of equity securities ⁽³⁾		47			(59	)		28			(11	)		(74	)		106			121			6			(107	)		113
Repositioning and other ⁽⁴⁾		140			—			—			10			172			140			(32	)		150			201			(52	)

Core pre-tax income ⁽⁴⁾	$	310		$	220		$	321		$	195		$	183		$	90		$	127		$	1,047		$	1,246		$	(198	)

(1)

Corporate and Other includes the impact of centralized asset and liability management, corporate overhead allocation activities, the consumer mortgage portfolio, Ally Invest activity, Ally Lending activity and the Credit Card portfolio. The sale of Ally Lending closed on 03/01/24. During the fourth quarter of 2024 we updated the composition of our reportable segments to better reflect how the Chief Operating Decision Maker views and operates the business. Financial information related to the Mortgage Finance business is now included in Corporate and Other. Further, during the quarter we updated our corporate overhead allocation methodology to eliminate the allocation of operating costs associated with our deposits business, which will now reside within Corporate and Other, as our reportable segments do not receive the related benefits of deposit funding. Reportable segments will be allocated all centralized functional costs.

(2)

Core OID for all periods shown are applied to the pre-tax income of the Corporate and Other segment.

(3)

For more details refer to pages 23-25.

(4)

Represents a non-GAAP measure. For more details refer to pages 19-25.

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

AUTOMOTIVE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)


	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23			FY 2024			FY 2023			CHANGE
Income Statement
Net financing revenue
Consumer	$	1,907		$	1,889		$	1,837		$	1,808		$	1,799		$	18		$	108		$	7,441		$	6,772		$	669
Commercial		396			432			435			411			394			(36	)		2			1,674			1,392			282
Loans held-for-sale		1			—			1			1			1			1			—			3			7			(4	)
Operating leases		350			348			354			368			380			2			(30	)		1,420			1,570			(150	)

Total financing revenue and other interest income		2,654			2,669			2,627			2,588			2,574			(15	)		80			10,538			9,741			797
Interest expense		1,090			1,101			1,065			1,010			970			(11	)		120			4,266			3,364			902
Depreciation expense on operating lease assets:
Depreciation expense on operating lease assets (ex. remarketing)		224			224			236			249			260			(0	)		(36	)		933			1,071			(138	)
Remarketing gains, net of repo valuation		(3	)		(24	)		(59	)		(46	)		(37	)		21			34			(132	)		(211	)		79

Total depreciation expense on operating lease assets		220			201			176			204			222			19			(2	)		801			860			(59	)

Net financing revenue		1,344			1,367			1,386			1,374			1,382			(23	)		(38	)		5,471			5,517			(46	)
Other revenue

Total other revenue		88			85			93			97			82			3			6			363			321			42

Total net revenue		1,432			1,452			1,479			1,471			1,464			(20	)		(32	)		5,834			5,838			(4	)
Provision for credit losses		495			579			383			448			492			(84	)		3			1,905			1,618			287
Noninterest expense ⁽¹⁾
Compensation and benefits		165			165			160			178			163			—			2			668			668			—
Other operating expenses		375			353			352			365			343			22			32			1,445			1,338			107

Total noninterest expense		540			518			512			543			506			22			34			2,113			2,006			107

Pre-tax Income	$	397		$	355		$	584		$	480		$	466		$	42		$	(69	)	$	1,816		$	2,214		$	(398	)

Memo: Net lease revenue
Operating lease revenue	$	350		$	348		$	354		$	368		$	380		$	2		$	(30	)	$	1,420		$	1,570		$	(150	)
Depreciation expense on operating lease assets (ex. remarketing)		224			224			236			249			260			(0	)		(36	)		933			1,071			(138	)
Remarketing gains, net of repo valuation		(3	)		(24	)		(59	)		(46	)		(37	)		21			34			(132	)		(211	)		79

Total depreciation expense on operating lease assets		220			201			176			204			222			19			(2	)		801			860			(59	)

Net lease revenue	$	130		$	147		$	178		$	164		$	158		$	(17	)	$	(28	)	$	619		$	710		$	(91	)

Balance Sheet (Period-End)
Loans held-for-sale, net		5			3			6			5			13			2			(8	)
Consumer loans		83,808			83,396			83,694			83,587			84,414			412			(606	)
Commercial loans		22,898			23,842			25,220			23,765			23,334			(944	)		(436	)
Allowance for loan losses		(3,211	)		(3,204	)		(3,092	)		(3,083	)		(3,117	)		(7	)		(94	)

Total finance receivables and loans, net		103,495			104,034			105,822			104,269			104,631			(539	)		(1,136	)
Investment in operating leases, net		7,991			7,967			8,126			8,582			9,085			24			(1,094	)
Other assets		1,566			1,579			1,570			1,608			1,572			(13	)		(6	)

Total assets	$	113,057		$	113,583		$	115,524		$	114,464		$	115,301		$	(526	)	$	(2,244	)

(1)

During the fourth quarter of 2024 we updated our corporate overhead allocation methodology to eliminate the allocation of costs associated with our deposits business, which will now reside within Corporate and Other, as our reportable segments do not receive the related benefits of deposit funding. Further, reportable segments will be allocated all centralized functional costs to better reflect how the Chief Operating Decision Maker views and operates business.

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

AUTOMOTIVE FINANCE – KEY STATISTICS


	QUARTERLY TRENDS										CHANGE VS.						FULL YEAR
	4Q 24		3Q 24		2Q 24		1Q 24		4Q 23		3Q 24			4Q 23			FY 2024		FY 2023		CHANGE
U.S. Consumer Originations ⁽¹⁾($ in billions)
Retail standard - new vehicle GM	$	1.1	$	0.9	$	1.1	$	1.0	$	1.1	$	0.2		$	—		$	4.2	$	4.3	$	(0.1	)
Retail standard - new vehicle Stellantis		0.7		0.6		0.7		0.6		0.7		0.1			—			2.5		2.9		(0.4	)
Retail standard - new vehicle Other		1.5		1.0		1.0		0.9		1.0		0.5			0.5			4.4		4.1		0.3
Used vehicle		6.0		5.9		6.1		6.6		6.2		0.1			(0.2	)		24.5		25.8		(1.3	)
Lease		1.0		1.0		0.9		0.7		0.6		0.0			0.4			3.6		2.9		0.7

Total originations	$	10.3	$	9.4	$	9.8	$	9.8	$	9.6	$	0.9		$	0.7		$	39.2	$	40.0	$	(0.8	)
U.S. Consumer Originations - FICO Score
Super prime (760-999)	$	3.5	$	2.6	$	2.7	$	2.4	$	2.4	$	0.9		$	1.1		$	11.2	$	9.0	$	2.2
High prime (720-759)		1.5		1.4		1.4		1.4		1.4		0.1			0.1			5.7		5.5		0.2
Prime (660-719)		2.5		2.6		2.8		2.8		2.7		(0.1	)		(0.2	)		10.7		11.6		(0.9	)
Prime/Near (620-659)		1.5		1.5		1.6		1.7		1.5		—			—			6.2		7.1		(0.9	)
Non-Prime (540-619)		0.6		0.6		0.6		0.7		0.6		—			—			2.6		2.8		(0.2	)
Sub-Prime (0-539)		0.1		0.1		0.1		0.2		0.2		—			(0.1	)		0.4		0.7		(0.3	)
No FICO (Primarily CSG)		0.6		0.5		0.6		0.7		0.8		0.1			(0.2	)		2.4		3.2		(0.8	)

Total originations	$	10.3	$	9.4	$	9.8	$	9.8	$	9.6	$	0.9		$	0.7		$	39.2	$	40.0	$	(0.8	)
U.S. Consumer Retail Originations - Average FICO
New vehicle		738		716		714		712		718		22			20			722		710		12
Used vehicle		711		707		710		702		703		4			8			707		697		10
Total retail originations		720		710		712		704		707		10			13			712		701		11
U.S. Market
New light vehicle sales (SAAR - units in millions)		16.5		15.6		15.6		15.5		15.6		0.9			0.9			15.8		15.5		0.3
New light vehicle sales (quarterly - units in millions)		4.2		3.9		4.1		3.7		3.9		0.3			0.3			15.9		15.5		0.4
Dealer Engagement
Total Active DFS Dealers ⁽²⁾		21,368		21,656		21,825		21,787		21,829		(288	)		(461	)		21,368		21,829		(461	)
Total Application Volume (000s)		3,478		3,632		3,733		3,764		3,322		(154	)		156			14,607		13,832		775
Ally U.S. Commercial Outstandings EOP ($ in billions)
Floorplan outstandings	$	16.4	$	17.5	$	18.7	$	17.3	$	17.0	$	(1.1	)	$	(0.6	)
Dealer loans and other		6.5		6.3		6.6		6.4		6.3		0.1			0.1

Total Commercial outstandings	$	22.9	$	23.8	$	25.2	$	23.8	$	23.3	$	(0.9	)	$	(0.4	)
U.S. Off-Lease Remarketing
Off-lease vehicles terminated - on-balance sheet (# in units)		23,301		31,033		41,601		31,926		26,237		(7,732	)		(2,936	)		127,861		109,756		18,105
Average gain per vehicle	$	145	$	771	$	1,420	$	1,431	$	1,422	$	(626	)	$	(1,277	)	$	1,033	$	1,923	$	(890	)
Total gain ($ in millions)	$	3	$	24	$	59	$	46	$	37	$	(21	)		(34	)	$	132	$	211	$	(79	)

(1)

Some standard rate loan originations contain manufacturer sponsored cash back rebate incentives. Some lease originations contain rate subvention. While Ally may jointly develop marketing programs for these originations, Ally does not have exclusive rights to such originations under operating agreements with manufacturers.

(2)

A dealer is considered to have an active relationship with us if we provided automotive financing, remarketing, or insurance services during three months ended December 31, 2024.

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

INSURANCE – CONDENSED FINANCIAL STATEMENTS AND KEY STATISTICS


($ in millions)	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23			FY 2024			FY 2023			CHANGE
Income Statement *(GAAP View)*
Net financing revenue
Total interest and fees on finance receivables and loans⁽¹⁾	$	5		$	4		$	4		$	3		$	3		$	1		$	2		$	16		$	10		$	6
Interest and dividends on investment securities		34			31			32			31			34			3			—			128			126			2
Interest bearing cash		6			8			5			5			5			(2	)		1			24			13			11

Total financing revenue and other interest revenue		45			43			41			39			42			2			3			168			149			19
Interest expense		14			13			14			13			13			1			1			54			45			9

Net financing revenue		31			30			27			26			29			1			2			114			104			10
Other revenue
Insurance premiums and service revenue earned		368			359			341			345			335			9			33			1,413			1,271			142
Other gain / (loss) on investments, net		(24	)		75			(6	)		35			78			(99	)		(102	)		80			144			(64	)
Other income, net of losses		4			3			3			4			4			1			—			14			13			1

Total other revenue		348			437			338			384			417			(89	)		(69	)		1,507			1,428			79

Total net revenue		379			467			365			410			446			(88	)		(67	)		1,621			1,532			89
Noninterest expense ⁽⁷⁾
Compensation and benefits expense		27			27			26			28			27			—			—			108			108			—
Insurance losses and loss adjustment expenses		116			135			181			112			93			(19	)		23			544			422			122
Other operating expenses		200			203			198			200			199			(3	)		1			801			786			15

Total noninterest expense		343			365			405			340			319			(22	)		24			1,453			1,316			137

Pre-tax income (loss)	$	36		$	102		$	(40	)	$	70		$	127		$	(66	)	$	(91	)	$	168		$	216		$	(48	)

Memo: Income Statement (Managerial View)
Insurance premiums and other income
Insurance premiums and service revenue earned	$	368		$	359		$	341		$	345		$	335		$	9		$	33		$	1,413		$	1,271		$	142
Investment income and other (adjusted) ⁽²⁾		55			49			49			44			40			7			16			197			138			58
Other income		4			3			3			4			4			1			—			14			13			1

Total insurance premiums and other income		427			411			393			393			379			17			49			1,624			1,422			201
Expense
Insurance losses and loss adjustment expenses		116			135			181			112			93			(19	)		23			544			422			122
Acquisition and underwriting expenses
Compensation and benefit expense		27			27			26			28			27			—			—			108			108			—
Insurance commission expense		162			164			162			161			161			(2	)		—			649			637			11
Other expense		38			39			36			39			38			(1	)		1			152			149			4

Total acquistion and underwriting expense		227			230			224			228			226			(3	)		1			909			894			15

Total expense		343			365			405			340			319			(22	)		24			1,453			1,316			137

Core pre-tax (loss) / income ⁽²⁾		84			46			(12	)		53			60			39			25			171			106			64
Change in the fair value of equity securities ⁽³⁾		(48	)		56			(28	)		17			67			(105	)		(116	)		(3	)		110			(112	)

Income (loss) before income tax expense	$	36		$	102		$	(40	)	$	70		$	127		$	(66	)	$	(91	)	$	168		$	216		$	(48	)

Balance Sheet (Period-End)
Cash and investment securities	$	5,317		$	5,461		$	5,285		$	5,285		$	5,333		$	(144	)	$	(16	)
Intercompany loans⁽¹⁾		864			826			727			719			619			38			245
Premiums receivable and other insurance assets		2,809			2,829			2,824			2,768			2,767			(20	)		42
Other assets		335			339			338			328			362			(4	)		(27	)

Total assets	$	9,325		$	9,455		$	9,174		$	9,100		$	9,081		$	(130	)	$	244

Key Statistics
Total written premiums and revenue ⁽⁴⁾	$	390		$	384		$	344		$	354		$	333		$	6		$	57		$	1,472		$	1,274		$	198
Loss ratio ⁽⁵⁾		31.3	%		37.1	%		52.5	%		32.2	%		27.6	%								38.1	%		32.9	%
Underwriting expense ratio ⁽⁶⁾		61.2	%		63.5	%		65.1	%		65.4	%		66.3	%								63.7	%		69.6	%

Combined ratio		92.5	%		100.6	%		117.6	%		97.6	%		93.9	%								101.9	%		102.4	%

(1)

Intercompany activity represents excess liquidity placed with corporate segment.

(2)

Represents a non-GAAP financial measure. For more details refer to pages 19-25.

(3)

For more details refer to pages 23-25.

(4)

Written premiums are net of ceded premium for reinsurance.

(5)

Loss Ratio is calculated as Insurance losses and loss adjustment expenses divided by Insurance premiums and service revenue earned and Other Income, net of losses.

(6)

Underwriting Expense Ratio is calculated as Compensation and benefits expense and Other operating expenses divided by Insurance premiums and service revenue earned and Other Income, net of losses.

(7)

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

CORPORATE FINANCE - CONDENSED FINANCIAL STATEMENTS


($ in millions)	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23			FY 2024			FY 2023			CHANGE
Income Statement
Net financing revenue
Total financing revenue and other interest income	$	237		$	248		$	252		$	269		$	264		$	(11	)	$	(27	)	$	1,006		$	980		$	26
Interest expense		122			139			140			149			150			(17	)		(28	)		550			550			—

Net financing revenue		115			109			112			120			114			6			1			456			430			26
Total other revenue		33			37			30			23			23			(4	)		10			123			104			19

Total net revenue		148			146			142			143			137			2			11			579			534			45
Provision for loan losses		(5	)		11			3			(1	)		17			(16	)		(22	)		8			52			(44	)
Noninterest expense ⁽¹⁾
Compensation and benefits expense		19			17			17			27			17			2			2			80			78			2
Other operating expense		14			13			13			17			11			1			3			57			50			7

Total noninterest expense		33			30			30			44			28			3			5			137			128			9

Pre-tax income	$	120		$	105		$	109		$	100		$	92		$	15		$	28		$	434		$	354		$	80

Change in the fair value of equity securities ⁽²⁾		0			(1	)		(0	)		0			0			1			(0	)		(1	)		(1	)		—

Core pre-tax income ⁽³⁾	$	120		$	104		$	109		$	100		$	92		$	16		$	28		$	433		$	353		$	80

Balance Sheet (Period-End)
Equity securities	$	3		$	3		$	2		$	5		$	6		$	—		$	(3	)
Loans held for sale, net		105			65			101			213			253			40			(148	)
Commercial loans		9,593			10,300			9,737			10,144			10,905			(707	)		(1,312	)
Allowance for loan losses		(162	)		(167	)		(156	)		(152	)		(153	)		5			(9	)

Total finance receivables and loans, net		9,431			10,133			9,581			9,992			10,752			(702	)		(1,321	)
Other assets		165			197			185			200			201			(32	)		(36	)

Total assets	$	9,704		$	10,398		$	9,869		$	10,410		$	11,212		$	(694	)	$	(1,508	)

(1)

(2)

For more details refer to pages 23-25.

(3)

Represents a non-GAAP financial measure. For more details refer to pages 19-25.

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

CORPORATE AND OTHER - CONDENSED FINANCIAL STATEMENTS


($ in millions)	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23			FY 2024			FY 2023			CHANGE
Income Statement
Net financing revenue
Total financing revenue and other interest income $		592		$	646		$	639		$	698		$	752		$	(54	)	$	(160	)	$	2,575		$	3,108		$	(533	)
Interest expense		573			632			647			750			775			(59	)		(202	)		2,602			2,938			(336	)

Net financing revenue		19			14			(8	)		(52	)		(23	)		5			42			(27	)		170			(197	)
Other revenue
Other gain/(loss) on investments, net		—			(2	)		(1	)		(6	)		8			2			(8	)		(9	)		—			(9	)
Other income, net of losses ⁽¹⁾		44			52			40			26			41			(8	)		3			162			144			18

Total other revenue		48			56			44			26			52			(8	)		(4	)		174			160			14

Total net revenue		67			70			36			(26	)		29			(3	)		38			147			330			(183	)
Provision for loan losses		67			55			71			60			78			12			(11	)		253			298			(45	)
Noninterest expense
Compensation and benefits expense		235			226			239			286			246			9			(11	)		986			1,047			(61	)
Goodwill impairment		118			—			—			—			149			118			(31	)		118			149			(31	)
Other operating expense ⁽²⁾		91			86			100			95			168			5			(77	)		372			517			(145	)

Total noninterest expense		444			312			339			381			563			132			(119	)		1,476			1,713			(237	)

Pre-tax (loss) income	$	(444	)	$	(297	)	$	(374	)	$	(467	)	$	(612	)	$	(147	)	$	168		$	(1,582	)	$	(1,681	)	$	99

Change in the fair value of equity securities ⁽³⁾		(2	)		(2	)		1			6			(7	)		—			5			3			3			—
Core OID ⁽⁴⁾		15			14			14			13			13			1			2			56			48			8
Repositioning ⁽³⁾		140			—			—			10			172			140			(32	)		150			201			(52	)

Core pre-tax (loss) income ⁽⁴⁾	$	(291	)	$	(285	)	$	(359	)	$	(438	)	$	(434	)	$	(6	)	$	143		$	(1,373	)	$	(1,428	) $		55

Balance Sheet (Period-End)
Cash, trading and investment securities	$	32,599		$	32,375		$	30,684		$	31,990		$	31,511		$	224		$	1,088
Loans held-for-sale, net		50			238			209			140			134			(188	)		(84	)
Consumer loans		19,477			19,699			19,891			20,222			20,563			(222	)		(1,086	)
Commercial loans		239			252			241			242			223			(13	)		16
Intercompany loans⁽⁵⁾		(864	)		(826	)		(727	)		(719	)		(619	)		(38	)		(245	)
Allowance for loan losses		(341	)		(329	)		(324	)		(315	)		(317	)		(12	)		(24	)

Total finance receivables and loans, net		18,511			18,796			19,081			19,430			19,850			(285	)		(1,339	)
Other assets		8,590			7,825			7,838			7,266			7,265			765			1,325
Assets of operations held-for-sale ⁽⁶⁾		—			—			—			—			1,975			—			(1,975	)
Total assets	$	59,750		$	59,234		$	57,812		$	58,826		$	60,735		$	516		$	(985	)

Core OID Amortization Schedule ⁽⁴⁾	2025			2026			2027			2028			2029_After &
Remaining Core OID amortization expense	$	66		$	77		$	89		$	104		Avg = $	133/yr

(1)

Includes the impact of centralized asset and liability management, corporate overhead allocation activities, the consumer mortgage portfolio, Ally Invest activity, Ally Lending activity, and Ally Credit Card.

(2)

Other operating expenses includes corporate overhead allocated to the other business segments. Amounts of corporate overhead allocated were $296 million for 4Q24, $286 million for 3Q24, $280 million for 2Q24, $310 million for 1Q24, and $279 million for 4Q23. The receiving business segment records the allocation of corporate overhead expense within other operating expenses. During the fourth quarter of 2024 we updated our corporate overhead allocation methodology to eliminate the allocation of costs associated with our deposits business, which will now reside within Corporate and Other, as our reportable segments do not receive the related benefits of deposit funding. Further, reportable segments will be allocated all centralized functional costs reflecting management’s updated view of operations.

(3)

For more details refer to pages 23-25.

(4)

Represents a non-GAAP financial measure. For more details refer to pages 19-25.

(5)

Intercompany loans related to activity between Insurance and Corporate and Other for liquidity purposes.

(6)

Unsecured lending from point-of-sale financing. Moved to Assets of Operations Held-For-Sale (HFS) on 12/31/23. Sale of Ally Lending closed on 03/01/24.

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

CREDIT RELATED INFORMATION


($ in millions)	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23			FY 2024			FY 2023			CHANGE
Asset Quality – Consolidated ⁽¹⁾
Ending loan balance	$	136,030		$	137,501		$	138,783		$	137,960		$	139,439		$	(1,471	)	$	(3,409	)
30+ Accruing DPD	$	3,800		$	3,645		$	3,737		$	3,347		$	3,856		$	155		$	(56	)
30+ Accruing DPD %		2.79	%		2.65	%		2.69	%		2.43	%		2.76	%
60+ Accruing DPD	$	1,026		$	987		$	1,087		$	948		$	1,077		$	39		$	(51	)
60+ Accruing DPD %		0.75	%		0.72	%		0.78	%		0.69	%		0.77	%
Non-performing loans (NPLs)	$	1,486		$	1,490		$	1,215		$	1,252		$	1,394		$	(4	)	$	92
Net charge-offs (NCOs)	$	543		$	517		$	435		$	539		$	623		$	26		$	(80	)	$	2,034		$	1,887		$	147
Net charge-off rate ⁽²⁾		1.59	%		1.50	%		1.26	%		1.55	%		1.77	%								1.48	%		1.36	%
Provision for loan losses	$	557		$	645		$	457		$	507		$	587		$	(88	)	$	(30	)	$	2,166		$	1,968		$	198
Allowance for loan losses (ALLL)	$	3,714		$	3,700		$	3,572		$	3,550		$	3,587		$	14		$	127
ALLL as % of Loans ⁽³⁾(4)		2.73	%		2.69	%		2.57	%		2.57	%		2.57	%
ALLL as % of NPLs ⁽³⁾		250	%		248	%		294	%		284	%		257	%
ALLL as % of NCOs ⁽³⁾		171	%		179	%		205	%		165	%		144	%
U.S. Auto Delinquencies – HFI Retail Contract $‘s ⁽⁵⁾
30+ Delinquent contract $	$	3,681		$	3,534		$	3,620		$	3,239		$	3,730		$	147		$	(49	)
% of retail contract $ outstanding		4.39	%		4.24	%		4.33	%		3.88	%		4.42	%
60+ Delinquent contract $	$	984		$	951		$	1,049		$	915		$	1,037		$	33		$	(53	)
% of retail contract $ outstanding		1.18	%		1.14	%		1.26	%		1.10	%		1.23	%
U.S. Auto Annualized Net Charge-Offs – HFI Retail Contract $‘s
Net charge-offs	$	488		$	467		$	378		$	477		$	470		$	21		$	18		$	1,810		$	1,491		$	319
% of avg. HFI assets ⁽²⁾		2.34	%		2.24	%		1.81	%		2.27	%		2.21	%								2.16	%		1.77	%
U.S. Auto Annualized Net Charge-Offs – HFI Commercial Contract $‘s ⁽⁶⁾
Net charge-offs	$	0		$	(0	)	$	(4	)	$	1		$	19		$	—		$	(19	)	$	(3	)	$	23		$	(26	)
% of avg. HFI assets ⁽²⁾		—	%		(0.01	)%		(0.07	)%		0.02	%		0.34	%								(0.01	)%		0.11	%

(1)

Loans within this table are classified as held-for-investment recorded at amortized cost as these loans are included in our allowance for loan losses.

(2)

Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding finance receivables and loans excluding loans measured at fair value, conditional repurchase loans and loans held-for-sale during the year for each loan category.

(3)

Excludes provision for credit losses related to our reserve for unfunded commitments.

(4)

ALLL coverage ratios are based on the allowance for loan losses related to loans held-for-investment excluding those loans held at fair value as a percentage of the unpaid principal balance, net of premiums and discounts.

(5)

Auto delinquency metrics include accruing contracts only.

(6)

Commercial Auto data includes Insurance advances

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

CREDIT RELATED INFORMATION, CONTINUED


($ in millions)
	QUARTERLY TRENDS															CHANGE VS.
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23
Automotive Finance ⁽¹⁾
*Consumer*
Allowance for loan losses	$	3,170		$	3,166		$	3,055		$	3,050		$	3,083		$	4		$	87
Total consumer loans ⁽²⁾	$	83,757		$	83,424		$	83,528		$	83,406		$	84,320		$	333		$	(563	)
Coverage ratio ⁽³⁾		3.78	%		3.80	%		3.65	%		3.65	%		3.65	%
*Commercial ⁽⁴⁾*
Allowance for loan losses	$	41		$	38		$	37		$	33		$	34		$	3		$	7
Total commercial loans	$	22,913		$	23,854		$	25,220		$	23,765		$	23,334		$	(941	)	$	(421	)
Coverage ratio		0.18	%		0.16	%		0.15	%		0.14	%		0.15	%
Consumer Mortgage ⁽¹⁾
Allowance for loan losses	$	19		$	19		$	19		$	21		$	21		$	—		$	(2	)
Total consumer loans	$	17,234		$	17,501		$	18,008		$	18,441		$	18,667		$	(267	)	$	(1,433	)
Coverage ratio		0.10	%		0.11	%		0.11	%		0.11	%		0.11	%
Consumer Other – Ally Credit Card ⁽¹⁾
Allowance for loan losses	$	319		$	307		$	302		$	291			293		$	12		$	26
Total consumer loans	$	2,294		$	2,170		$	2,049		$	1,962			1,990		$	124		$	304
Coverage ratio		13.92	%		14.14	%		14.73	%		14.85	%		14.72	%
Corporate Finance ⁽¹⁾
Allowance for loan losses	$	162		$	167		$	156		$	152		$	153		$	(5	)	$	9
Total commercial loans	$	9,593		$	10,300		$	9,737		$	10,144		$	10,905		$	(707	)	$	(1,312	)
Coverage ratio		1.69	%		1.62	%		1.60	%		1.50	%		1.40	%
Corporate and Other ⁽¹⁾
Allowance for loan losses	$	3		$	3		$	3		$	3		$	3		$	—		$	—
Total commercial loans	$	239		$	252		$	241		$	242		$	223		$	(13	)	$	16
Coverage ratio		1.36	%		1.36	%		1.36	%		1.36	%		1.36	%

(1)

ALLL coverage ratios are based on the domestic allowance as a percentage of finance receivables and loans reported at their gross carrying value, which includes the principal amount outstanding, net of unearned income, unamortized deferred fees reduced by costs on originated loans, unamortized premiums and discounts on purchased loans, unamortized basis adjustments arising from the designation of finance receivables and loans as the hedged item in qualifying fair value hedge relationships, and cumulative principal charge-offs. Excludes loans held at fair value.

(2)

Includes ($51M) of fair value adjustment for loans in hedge accounting relationships in 4Q24, $28M in 3Q24, ($166M) in 2Q24, ($181M) in 1Q24 and ($93M) in 4Q23.

(3)

Excludes ($51M) of fair value adjustment for loans in hedge accounting relationships in 4Q24, $28M in 3Q24, ($166M) in 2Q24, ($181M) in 1Q24 and ($93M) in 4Q23.

(4)

Commercial Auto data includes Insurance advances.

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

CAPITAL


($in billions)	QUARTERLY TRENDS															CHANGE VS.
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23
Capital
Risk-weighted assets	$	153.4		$	156.3		$	157.5		$	158.3		$	161.6		$	(2.9	)	$	(8.2	)
Common Equity Tier 1 (CET1) capital ratio		9.8	%		9.8	%		9.6	%		9.4	%		9.4	%
Tier 1 capital ratio		11.3	%		11.2	%		11.0	%		10.8	%		10.8	%
Total capital ratio		13.2	%		12.9	%		12.7	%		12.5	%		12.4	%
Tangible common equity / Tangible assets ⁽¹⁾⁽²⁾		5.7	%		5.9	%		5.6	%		5.5	%		5.4	%
Tangible common equity / Risk-weighted assets ⁽¹⁾		7.2	%		7.3	%		6.8	%		6.7	%		6.6	%
Shareholders’ equity	$	13.9		$	14.4		$	13.7		$	13.6		$	13.7		$	(0.5	)	$	0.2
add: CECL phase-in adjustment		0.3			0.3			0.3			0.3			0.6			—			(0.3	)
less: Certain AOCI items and other adjustments		3.2			2.6			3.3			3.3			3.1			0.6			0.1
less: Adjustments related to deferral method accounting		—			0.3			0.2			0.1			0.1			(0.3	)		(0.1	)
Preferred equity		(2.3	)		(2.3	)		(2.3	)		(2.3	)		(2.3	)		—			—

Common Equity Tier 1 capital	$	15.1		$	15.3		$	15.1		$	14.9		$	15.1		$	(0.2	)	$	—

Common Equity Tier 1 capital	$	15.1		$	15.3		$	15.1		$	14.9		$	15.1		$	(0.2	)	$	—
add: Preferred equity		2.3			2.3			2.3			2.3			2.3			—			—
less: Other adjustments		(0.1	)		(0.1	)		(0.1	)		(0.1	)		(0.1	)		—			—

Tier 1 capital	$	17.3		$	17.6		$	17.4		$	17.2		$	17.4		$	(0.3	)	$	(0.1	)

Tier 1 capital	$	17.3		$	17.6		$	17.4		$	17.2		$	17.4		$	(0.3	)	$	(0.1	)
add: Qualifying subordinated debt		1.0			0.7			0.7			0.7			0.7			0.3			0.3
Allowance for loan and lease losses includible in Tier 2 capital and other adjustments		1.9			1.9			1.9			1.9			2.0			—			(0.1	)

Total capital	$	20.2		$	20.2		$	20.0		$	19.8		$	20.1		$	—		$	0.1

Total shareholders’ equity	$	13.9		$	14.4		$	13.7		$	13.6		$	13.7		$	(0.5	)	$	0.2
less: Preferred equity		(2.3	)		(2.3	)		(2.3	)		(2.3	)		(2.3	)		—			—
Goodwill and intangible assets, net of deferred tax liabilities		(0.6	)		(0.7	)		(0.7	)		(0.7	)		(0.7	)		0.1			0.1

Tangible common equity ⁽¹⁾	$	11.0		$	11.4		$	10.7		$	10.5		$	10.7		$	(0.4	)	$	0.3

Total assets	$	191.8		$	192.7		$	192.4		$	192.8		$	196.3		$	(0.9	)	$	(4.5	)
less: Goodwill and intangible assets, net of deferred tax liabilities		(0.6	)		(0.7	)		(0.7	)		(0.7	)		(0.7	)		0.1			0.1

Tangible assets ⁽²⁾	$	191.2		$	192.0		$	191.7		$	192.1		$	195.6		$	(0.8	)	$	(4.4	)

Note: Numbers may not foot due to rounding

(1)

Represents a non-GAAP financial measure. For more details refer to pages 19-25.

(2)

Ally defines tangible assets as total assets less goodwill and intangible assets, net of deferred tax liabilities.

For more details on the final rules to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, to delay and subsequently phase-in its impact, see page 24.

Historical regulatory capital, ratios and RWA have not been recast in relation to the accounting method change for EV tax credits.

ALLY FINANCIAL INC.

LIQUIDITY AND DEPOSITS


	QUARTERLY TRENDS															CHANGE VS.
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23
Consolidated Available Liquidity ($in billions)
Liquid cash and cash equivalents ⁽¹⁾	$	9.6		$	7.9		$	6.7		$	7.4		$	6.5		$	1.6		$	3.1
Highly liquid securities ⁽²⁾		19.9			20.8			18.9			20.9			20.6			(0.9	)		(0.7	)

Subtotal	$	29.5		$	28.8		$	25.6		$	28.3		$	27.1		$	0.8		$	2.4

FHLB Unused Pledged Borrowing Capacity		12.2			12.5			12.2			13.8			10.3			(0.3	)		1.9
FRB Discount Window Unused Pledged Capacity		26.7			26.7			26.5			26.3			26.0			0.1			0.7

Total unused pledged capacity	$	38.9		$	39.2		$	38.8		$	40.0		$	36.4		$	(0.2	)	$	2.6

Total current available liquidity	$	68.5		$	67.9		$	64.3		$	68.3		$	63.5		$	0.5		$	5.0


Unsecured Long-Term Debt Maturity Profile	2025			2026			2027			2028			2029			2030 & After
Consolidated remaining maturities ⁽³⁾	$	2.3		$	—		$	1.5		$	0.8		$	0.9		$	5.4
Ally Bank Deposits
Key Deposit Statistics
Average retail CD maturity (months)		17.6			18.4			18.7			18.6			19.0			(0.8	)		(1.4	)
Average retail deposit rate		3.97	%		4.18	%		4.18	%		4.25	%		4.15	%
End of Period Deposit Levels ($in millions)
Retail	$	143,430		$	141,449		$	142,075		$	145,147		$	142,265		$	1,981		$	1,165
Brokered & other		8,144			10,501			10,079			9,937			12,401			(2,357	)		(4,257	)

Total deposits	$	151,574		$	151,950		$	152,154		$	155,084		$	154,666		$	(376	)	$	(3,092	)

Deposit Mix
Retail CD		27	%		27	%		26	%		27	%		29	%
MMA/OSA/Checking		68	%		66	%		67	%		67	%		63	%
Brokered & other		5	%		7	%		7	%		6	%		8	%

(1)

May include the restricted cash accumulation for retained notes maturing within the following 30 days and returned to Ally on the distribution date

(2)

Includes unencumbered UST, Agency MBS, and highly liquid Corporates

(3)

Excludes retail notes; as of 12/31/2024. Reflects notional value of outstanding bond. Excludes total GAAP OID and capitalized transaction costs.

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

NET INTEREST MARGIN


($ in millions)	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23			FY 2024			FY 2023			CHANGE
Average Balance Details
Retail Auto Loans	$	83,554		$	83,574		$	83,427		$	84,056		$	84,711		$	(20	)	$	(1,157	)	$	83,652		$	84,393		$	(741	)
Auto Lease (net of dep)		7,794			8,038			8,417			8,848			9,342			(244	)		(1,548	)		8,133			9,901			(1,768	)
Dealer Floorplan		17,074			17,535			18,003			16,833			15,693			(461	)		1,381			17,361			14,223			3,138
Other Dealer Loans		6,374			6,348			6,421			6,339			6,115			26			259			6,370			5,961			409
Corporate Finance		9,824			10,101			10,079			10,937			10,787			(277	)		(963	)		10,216			10,486			(270	)
Mortgage⁽¹⁾		17,438			17,922			18,302			18,578			18,788			(484	)		(1,350	)		18,058			19,188			(1,130	)
Consumer Other - Ally Lending ⁽²⁾		—			—			—			1,274			2,167			—			(2,167	)		317			2,130			(1,813	)
Consumer Other - Ally Credit Card		2,220			2,125			2,001			1,975			1,925			95			295			2,081			1,769			312
Cash and Cash Equivalents		8,721			7,867			7,276			7,709			7,571			854			1,150			7,895			7,261			634
Investment Securities and Other		29,169			29,982			29,542			30,274			29,784			(813	)		(615	)		29,759			31,264			(1,505	)

Total Earning Assets	$	182,168		$	183,492		$	183,468		$	186,823		$	186,883		$	(1,324	)	$	(4,715	)	$	183,842		$	186,576		$	(2,734	)
Interest Revenue		3,308			3,405			3,383			3,390			3,410			(97	)		(102	)		13,486			13,118			368
Unsecured Debt (ex. Core OID balance) ⁽³⁾	$	11,083		$	11,243		$	11,053		$	11,290		$	10,595		$	(160	)	$	488		$	11,167		$	11,205		$	(38	)
Secured Debt		2,155			1,364			1,227			1,409			2,279			791			(124	)		1,540			2,708			(1,168	)
Deposits ⁽⁴⁾		151,502			152,241			152,412			155,352			153,672			(739	)		(2,170	)		152,871			153,087			(216	)
Other Borrowings		4,699			5,743			7,114			7,122			8,572			(1,044	)		(3,873	)		6,164			7,513			(1,349	)

Total Funding Sources (ex. Core OID balance) ⁽³⁾	$	169,439		$	170,591		$	171,806		$	175,173		$	175,118		$	(1,152	)	$	(5,679	)	$	171,742		$	174,513		$	(2,771	)
Interest Expense (ex. Core OID) ⁽³⁾		1,784			1,871			1,852			1,909			1,895			(87	)		(111	)		7,416			6,849			567
Net Financing Revenue (ex. Core OID) ⁽³⁾	$	1,524		$	1,534		$	1,531		$	1,481		$	1,515		$	(10	)	$	9		$	6,070		$	6,269		$	(199	)
Net Interest Margin (yield details)
Retail Auto Loan		9.27	%		9.29	%		9.19	%		9.07	%		8.98	%		(0.02	)%		0.29	%		9.20	%		8.80	%		0.40	%
Retail Auto Loan (excl. hedge impact)		9.09	%		8.99	%		8.86	%		8.65	%		8.43	%		0.10	%		0.66	%		8.90	%		8.03	%		0.87	%
Auto Lease (net of dep)		6.60	%		7.22	%		8.49	%		7.46	%		6.66	%		(0.62	)%		(0.06	)%		7.60	%		7.16	%		0.44	%
Dealer Floorplan		7.01	%		7.68	%		7.64	%		7.69	%		7.84	%		(0.67	)%		(0.83	)%		7.51	%		7.70	%		(0.19	)%
Other Dealer Loans		5.60	%		5.65	%		5.67	%		5.61	%		5.35	%		(0.05	)%		0.25	%		5.63	%		5.20	%		0.43	%
Corporate Finance		9.68	%		9.82	%		10.06	%		9.88	%		9.70	%		(0.14	)%		(0.02	)%		9.88	%		9.34	%		0.54	%
Mortgage		3.17	%		3.21	%		3.26	%		3.25	%		3.21	%		(0.04	)%		(0.04	)%		3.22	%		3.22	%		—	%
Consumer Other - Ally Lending		—	%		—	%		—	%		8.77	%		9.86	%		—	%		(9.86	)%		8.77	%		9.94	%		(1.17	)%
Consumer Other - Ally Credit Card		21.48	%		22.13	%		21.59	%		21.61	%		22.02	%		(0.65	)%		(0.54	)%		21.71	%		22.04	%		(0.33	)%
Cash and Cash Equivalents⁽⁵⁾		4.52	%		5.14	%		4.90	%		5.04	%		4.72	%		(0.62	)%		(0.20	)%		4.89	%		4.57	%		0.32	%
Investment Securities and Other		3.34	%		3.51	%		3.66	%		3.60	%		3.66	%		(0.17	)%		(0.32	)%		3.53	%		3.34	%		0.19	%

Total Earning Assets		7.22	%		7.38	%		7.41	%		7.30	%		7.24	%		(0.16	)%		(0.02	)%		7.34	%		7.03	%		0.31	%
Unsecured Debt (ex. Core OID & Core OID balance) ⁽³⁾		6.37	%		6.27	%		6.22	%		6.19	%		6.08	%		0.10	%		0.29	%		6.26	%		5.58	%		0.68	%
Secured Debt		6.29	%		6.39	%		6.08	%		5.74	%		5.15	%		(0.10	)%		1.14	%		6.14	%		5.96	%		0.18	%
Deposits ⁽⁴⁾		4.01	%		4.23	%		4.21	%		4.28	%		4.19	%		(0.22	)%		(0.18	)%		4.18	%		3.81	%		0.37	%
Other Borrowings ⁽⁶⁾		3.88	%		3.83	%		3.86	%		3.63	%		3.79	%		0.05	%		0.09	%		3.79	%		3.23	%		0.56	%

Total Funding Sources (ex. Core OID & Core OID balance) ⁽³⁾		4.19	%		4.36	%		4.34	%		4.38	%		4.29	%		(0.17	)%		(0.10	)%		4.32	%		3.92	%		0.40	%
NIM (as reported)		3.30	%		3.29	%		3.32	%		3.16	%		3.19	%		0.01	%		0.11	%		3.27	%		3.33	%		(0.06	)%
NIM (ex. Core OID & Core OID balance) ⁽³⁾		3.33	%		3.32	%		3.36	%		3.19	%		3.22	%		0.01	%		0.11	%		3.30	%		3.36	%		(0.06	)%

(1)

Mortgage includes held-for-investment (HFI) loans in run-off at the Corporate and Other segment.

(2)

Unsecured lending from point-of-sale financing. Moved to assets of operations held-for-sale (HFS) on 12/31/23.

(3)

Represents a non-GAAP financial measure. Excludes Core OID from interest expense and Core OID balance from Unsecured Debt. For more details refer to pages 23-25.

(4)

Includes retail, brokered, and other deposits. Other includes sweep deposits and other deposits.

(5)

Includes interest expense related to margin received on derivative contracts. Excluding this expense, annualized yields were 4.68% for 4Q24, 5.29% for 3Q24, and 5.24% for 3Q23. Annualized yields excluding this expense for FY2024 and FY2023 were 5.15% and 5.06%, respectively.

(6)

Includes FHLB Borrowings, Repurchase Agreements and other.

ALLY FINANCIAL INC.

EARNINGS PER SHARE RELATED INFORMATION


($ in millions, shares in thousands)			QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
			4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23			FY 2024			FY 2023			CHANGE
Earnings Per Share Data
GAAP net income attributable to common shareholders			$	81		$	171		$	191		$	115		$	35		$	(90	)	$	46		$	558		$	847		$	(289	)
Weighted-average common shares outstanding - basic				307,553			307,312			306,774			306,003			304,506			241			3,047			306,913			303,751			3,162
Weighted-average common shares outstanding - diluted				311,277			311,044			309,886			308,421			306,730			233			4,547			310,160			305,135			5,025
Issued shares outstanding (period-end)				305,388			304,715			304,656			303,978			302,459			673			2,928			305,388			302,459			2,928

Net income per share - basic			$	0.26		$	0.55		$	0.63		$	0.38		$	0.11		$	(0.29	)	$	0.15		$	1.82		$	2.79		$	(0.97	)

Net income per share - diluted			$	0.26		$	0.55		$	0.62		$	0.37		$	0.11		$	(0.29	)	$	0.14		$	1.80		$	2.77		$	(0.98	)

Adjusted Earnings per Share (“Adjusted EPS”) ⁽²⁾
Numerator
GAAP net income attributable to common shareholders			$	81		$	171		$	191		$	115		$	35		$	(90	)	$	46		$	558		$	847		$	(289	)
Discontinued operations, net of tax				1			—			—			—			1			1			—			1			2			(1	)
Core OID ⁽¹⁾				15			14			14			13			13			1			2			56			48			8
Change in the fair value of equity securities ⁽³⁾				47			(59	)		28			(11	)		(74	)		106			121			6			(107	)		113
Core OID, repositioning & change in the fair value of equity securities tax (tax rate 21%)				(38	)		9			(9	)		(3	)		(23	)		(47	)		(15	)		(40	)		(30	)		(10	)
Repositioning ⁽³⁾				140			—			—			10			172			140			(32	)		150			201			(52	)
Significant discrete tax items				—			—			—			—			—			—			—			—			(94	)		94

Core net income attributable to common shareholders ⁽¹⁾			$	246		$	136		$	224		$	125		$	123		$	110		$	123		$	731		$	867		$	(137	)
Denominator
Weighted-average common shares outstanding - diluted				311,277			311,044			309,886			308,421			306,730			233			4,547			310,160			305,135			5,025
Adjusted EPS ⁽²⁾			$	0.78		$	0.43		$	0.73		$	0.41		$	0.40		$	0.35		$	0.39		$	2.35		$	2.84		$	(0.49	)
GAAP original issue discount amortization expense			$	17		$	17		$	17		$	17		$	16		$	—		$	1		$	68		$	61		$	7
Other OID				(3	)		(3	)		(3	)		(3	)		(3	)		—			1			(12	)		(13	)		1

Core original issue discount (Core OID) amortization expense ⁽¹⁾			$	15		$	14		$	14		$	13		$	13		$	1		$	2		$	56		$	48		$	8

GAAP outstanding original issue discount balance			$	(763	)	$	(780	)	$	(797	)	$	(815	)	$	(831	)	$	17		$	68		$	(763	)	$	(831	)	$	68
Other outstanding OID balance				27			29			31			35			39			(3	)		(12	)		27			39			(12	)

Core outstanding original issue discount balance (Core OID balance) ⁽¹⁾			$	(736	)	$	(751	)	$	(766	)	$	(779	)	$	(793	)	$	15		$	56		$	(736	)	$	(793	)	$	56

GAAP Net Financing Revenue	[A	]	$	1,509		$	1,520		$	1,517		$	1,468		$	1,502		$	(11	)	$	7		$	6,014		$	6,221		$	(207	)
Core OID ⁽¹⁾				15			14			14			13			13			1			2			56			48			8
Net Financing Revenue (ex. Core OID) ⁽¹⁾	[B	]	$	1,524		$	1,534		$	1,531		$	1,481		$	1,515		$	(10	)	$	9		$	6,070		$	6,269		$	(199	)

GAAP Other Revenue	[C	]	$	517		$	615		$	505		$	530		$	574		$	(98	)	$	(57	)	$	2,167		$	2,013		$	154
Change in the fair value of equity securities ⁽³⁾				47			(59	)		28			(11	)		(74	)		106			121			6			(107	)		113

Adjusted Other Revenue ⁽¹⁾	[D	]	$	564		$	556		$	533		$	519		$	500		$	8		$	64		$	2,173		$	1,906		$	267

GAAP Provision Expense			$	557		$	645		$	457		$	507		$	587		$	(88	)	$	(30	)	$	2,166		$	1,968		$	198
Repositioning				—			—			—			—			16			—			(16	)		—			16			(16	)

Adjusted Provision (ex. Repositioning) ⁽¹⁾			$	557		$	645		$	457		$	507		$	603		$	(88	)	$	(46	)	$	2,166		$	1,984		$	182

GAAP Noninterest Expense	[E	]	$	1,360		$	1,225		$	1,286		$	1,308		$	1,416		$	135		$	(56	)	$	5,179		$	5,163		$	16
Repositioning and other				(140	)		—			—			(10	)		(187	)		(140	)		47			(150	)		(217	)		67

Adjusted Noninterest Expense ⁽¹⁾	[F	]	$	1,220		$	1,225		$	1,286		$	1,298		$	1,229		$	(5	)	$	(9	)	$	5,029		$	4,946		$	83

(1)

Represents a non-GAAP financial measure. For more details refer to pages 19-25.

(2)

Adjusted earnings per share (Adjusted EPS) is a non-GAAP financial measure that adjusts GAAP EPS for revenue and expense items that are typically strategic in nature or that management otherwise does not view as reflecting the operating performance of the company. Management believes Adjusted EPS can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. In the numerator of Adjusted EPS, GAAP net income attributable to common shareholders is adjusted for the following items: (1) excludes discontinued operations, net of tax, as Ally is primarily a domestic company and sales of international businesses and other discontinued operations in the past have significantly impacted GAAP EPS, (2) adds back the tax-effected non-cash Core OID, (3) adjusts for tax-effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, (4) change in fair value of equity securities, (5) excludes significant discrete tax items that do not relate to the operating performance of the core businesses, and adjusts for preferred stock capital actions that have been taken by the company to normalize its capital structure, as applicable for respective periods. See pages 23-25 for details.

(3)

For more details refer to pages 23-25.

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

ADJUSTED TANGIBLE BOOK PER SHARE RELATED INFORMATION


($ in millions, shares in thousands)	QUARTERLY TRENDS															CHANGE VS.
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23
Adjusted Tangible Book Value Per Share (“Adjusted TBVPS”) Information
Numerator
GAAP shareholder’s equity	$	13,903		$	14,414		$	13,699		$	13,580		$	13,703		$	(511	)	$	200
Preferred equity		(2,324	)		(2,324	)		(2,324	)		(2,324	)		(2,324	)		—			—

GAAP common shareholder’s equity	$	11,579		$	12,090		$	11,375		$	11,256		$	11,379		$	(511	)	$	200
Goodwill and identifiable intangibles, net of DTLs		(603	)		(707	)		(713	)		(720	)		(727	)		104			124

Tangible common equity ⁽¹⁾		10,976			11,383			10,662			10,536			10,652			(407	)		324
Tax-effected Core OID balance (21% tax rate) ⁽¹⁾		(582	)		(594	)		(605	)		(616	)		(626	)		12			45

Adjusted tangible book value ⁽²⁾	$	10,395		$	10,790		$	10,057		$	9,920		$	10,026		$	(395	)	$	369

Denominator
Issued shares outstanding (period-end, thousands)		305,388			304,715			304,656			303,978			302,459			673			2,928
GAAP shareholder’s equity per share	$	45.53		$	47.30		$	44.97		$	44.67		$	45.31		$	(1.78	)	$	0.22
Preferred equity per share		(7.61	)		(7.63	)		(7.63	)		(7.65	)		(7.68	)		0.02			0.07
GAAP common shareholder’s equity per share	$	37.92		$	39.68		$	37.34		$	37.03		$	37.62		$	(1.76	)	$	0.29
Goodwill and identifiable intangibles, net of DTLs per share		(1.97	)		(2.32	)		(2.34	)		(2.37	)		(2.40	)		0.35			0.43

Tangible common equity per share ⁽¹⁾		35.94			37.36			35.00			34.66			35.22			(1.42	)		0.72
Tax-effected Core OID balance (21% tax rate) per share ⁽¹⁾		(1.90	)		(1.95	)		(1.99	)		(2.03	)		(2.07	)		0.04			0.17

Adjusted tangible book value per share ⁽²⁾	$	34.04		$	35.41		$	33.01		$	32.63		$	33.15		$	(1.37	)	$	0.89

(1)

Represents a non-GAAP financial measure. For more details refer to pages 23-25.

(2)

Adjusted tangible book value per share (Adjusted TBVPS) is a non-GAAP financial measure that reflects the book value of equity attributable to shareholders even if Core OID balance were accelerated immediately through the financial statements. As a result, management believes Adjusted TBVPS provides the reader with an assessment of value that is more conservative than GAAP common shareholder’s equity per share. Adjusted TBVPS generally adjusts common equity for (1) goodwill and identifiable intangibles, net of DTLs, and (2) tax-effected Core OID balance to reduce tangible common equity in the event the corresponding discounted bonds are redeemed/tendered and (3) Series G discount which reduces tangible common equity as the company has normalized its capital structure, as applicable for respective periods.

Note: Numbers may not foot due to rounding

ALLY FINANCIAL INC.

CORE ROTCE RELATED INFORMATION


($ in millions) unless noted otherwise	QUARTERLY TRENDS															CHANGE VS.						FULL YEAR
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23			FY 2024			FY 2023			CHANGE
Core Return on Tangible Common Equity (“Core ROTCE”)
Numerator
GAAP net income attributable to common shareholders	$	81		$	171		$	191		$	115		$	35		$	(90	)	$	46		$	558		$	847		$	(289	)
Discontinued operations, net of tax		1			—			—			—			1			1			—			1			2			(1	)
Core OID ⁽²⁾		15			14			14			13			13			1			2			56			48			8
Change in the fair value of equity securities ⁽²⁾		47			(59	)		28			(11	)		(74	)		106			121			6			(107	)		113
Core OID, repositioning & change in the fair value of equity securities tax (tax rate 21%)		(38	)		9			(9	)		(3	)		(23	)		(47	)		(15	)		(40	)		(30	)		(10	)
Repositioning ⁽²⁾		140			—			—			10			172			140			(32	)		150			201			(52	)
Significant discrete tax items		—			—			—			—			—			—			—			—			(94	)		94

Core net income attributable to common shareholders ⁽¹⁾	$	246		$	136		$	224		$	125		$	123		$	110		$	123		$	731		$	867		$	(137	)
Denominator (average, $ millions)
GAAP shareholder’s equity	$	14,159		$	14,057		$	13,640		$	13,642		$	13,240		$	102		$	919		$	13,860		$	13,238		$	622
Preferred equity		(2,324	)		(2,324	)		(2,324	)		(2,324	)		(2,324	)		—			—			(2,324	)		(2,324	)		—
Goodwill & identifiable intangibles, net of deferred tax liabilities (“DTLs”)		(655	)		(710	)		(717	)		(723	)		(803	)		55			148			(694	)		(858	)		164

Tangible common equity ⁽¹⁾	$	11,180		$	11,023		$	10,599		$	10,594		$	10,113		$	157		$	1,067		$	10,842		$	10,056		$	786
Core OID balance		(744	)		(759	)		(773	)		(786	)		(799	)		15			55			(765	)		(817	)		52
Net deferred tax asset (“DTA”)		(1,713	)		(1,531	)		(1,472	)		(1,325	)		(1,395	)		(182	)		(318	)		(1,524	)		(1,200	)		(324	)

Normalized common equity	$	8,723		$	8,733		$	8,354		$	8,482		$	7,918		$	(11	)	$	805		$	8,553		$	8,039		$	514
Core Return on Tangible Common Equity ⁽³⁾		11.3	%		6.2	%		10.7	%		5.9	%		6.2	%								8.5	%		10.8	%

(1)

Represents a non-GAAP measure. See pages 23-25 for methodology and detail.

(2)

For more details see pages 23-25.

(3)

Core return on tangible common equity (Core ROTCE) is a non-GAAP financial measure that management believes is helpful for readers to better understand the ongoing ability of the company to generate returns on its equity base that supports core operations. For purposes of this calculation, tangible common equity is adjusted for Core OID balance and net DTA. Ally’s Core net income attributable to common shareholders for purposes of calculating Core ROTCE is based on the actual effective tax rate for the period adjusted for significant discrete tax items including tax reserve releases, which aligns with the methodology used in calculating adjusted earnings per share.

(1)

In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations net of tax, tax-effected Core OID, tax-effected repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items, change in fair value of equity securities, significant discrete tax items, and preferred stock capital actions, as applicable for respective periods.

(2)

In the denominator, GAAP shareholder’s equity is adjusted for goodwill and identifiable intangibles net of DTL, Core OID balance, and net DTA.

Note:

Numbers may not foot due to rounding

ALLY FINANCIAL INC.

ADJUSTED EFFICIENCY RATIO RELATED INFORMATION


($ in millions)	QUARTERLY TREND															CHANGE VS.						FULL YEAR
	4Q 24			3Q 24			2Q 24			1Q 24			4Q 23			3Q 24			4Q 23			FY 2024			FY 2023			CHANGE
Adjusted Efficiency Ratio Calculation
Numerator
GAAP Noninterest Expense	$	1,360		$	1,225		$	1,286		$	1,308		$	1,416		$	135		$	(56	)	$	5,179		$	5,163		$	16
Insurance expense		(343	)		(365	)		(405	)		(340	)		(319	)		22			(24	)		(1,453	)		(1,316	)		(137	)
Repositioning ⁽²⁾		(140	)		—			—			(10	)		(187	)		(140	)		47			(150	)		(217	)		67

Adjusted noninterest expense for the efficiency ratio	$	877		$	860		$	881		$	958		$	910		$	17		$	(33	)	$	3,576		$	3,630		$	(54	)
Denominator
Total net revenue	$	2,026		$	2,135		$	2,022		$	1,998		$	2,076		$	(109	)	$	(50	)	$	8,181		$	8,234		$	(53	)
Core OID ⁽²⁾		15			14			14			13			13			1			2			56			48			8
Insurance revenue		(379	)		(467	)		(365	)		(410	)		(446	)		88			67			(1,621	)		(1,532	)		(89	)

Adjusted net revenue for the efficiency ratio	$	1,662		$	1,682		$	1,671		$	1,601		$	1,643		$	(20	)	$	19		$	6,616		$	6,750		$	(134	)
Adjusted Efficiency Ratio ⁽¹⁾		52.8	%		51.1	%		52.7	%		59.8	%		55.4	%								54.1	%		53.8	%

(1)

Adjusted efficiency ratio is a non-GAAP financial measure that management believes is helpful to readers in comparing the efficiency of its core banking and lending businesses with those of its peers. In the numerator of Adjusted efficiency ratio, total noninterest expense is adjusted for Insurance segment expense, Rep and warrant expense, and repositioning and other which is primarily related to the extinguishment of high cost legacy debt, strategic activities and significant one-time items, as applicable for respective periods. In the denominator, total net revenue is adjusted for Insurance segment revenue and Core OID. See page 11 for the combined ratio for the Insurance segment which management uses as a primary measure of underwriting profitability for the Insurance business.

(2)

For more details see pages 23-25.

Note: Numbers may not foot due to rounding


ALLY FINANCIAL INC.

The following are non-GAAP financial measures which Ally believes are important to the reader of the Consolidated Financial Statements, but which are supplemental to and not a substitute for GAAP measures: Accelerated issuance expense (Accelerated OID), Adjusted earnings per share (Adjusted EPS), Adjusted efficiency ratio, Adjusted noninterest expense, Adjusted other revenue, Adjusted tangible book value per share (Adjusted TBVPS), Adjusted total net revenue, Core net income attributable to common shareholders, Core original issue discount (Core OID) amortization expense, Core outstanding original issue discount balance (Core OID balance), Core pre-tax income, Core return on tangible common equity (Core ROTCE), Investment income and other (adjusted), Net financing revenue (excluding Core OID), Net interest margin (excluding Core OID), and Tangible Common Equity. These measures are used by management and we believe are useful to investors in assessing the company’s operating performance and capital.

1) Accelerated issuance expense (Accelerated OID) is the recognition of issuance expenses related to calls of redeemable debt.

2) Adjusted earnings per share (Adjusted EPS) is a non-GAAP financial measure that adjusts GAAP EPS for revenue and expense items that are typically strategic in nature or that management otherwise does not view as reflecting the operating performance of the company. Management believes Adjusted EPS can help the reader better understand the operating performance of the core businesses and their ability to generate earnings. In the numerator of Adjusted EPS, GAAP net income attributable to common shareholders is adjusted for the following items: (1) excludes discontinued operations, net of tax, as Ally is primarily a domestic company and sales of international businesses and other discontinued operations in the past have significantly impacted GAAP EPS, (2) adds back the tax-effected non-cash Core OID, (3) adjusts for tax-effected repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, (4) change in fair value of equity securities, (5) excludes significant discrete tax items that do not relate to the operating performance of the core businesses, and adjusts for preferred stock capital actions that have been taken by the company to normalize its capital structure, as applicable for respective periods.

3) Adjusted efficiency ratio is a non-GAAP financial measure that management believes is helpful to readers in comparing the efficiency of its core banking and lending businesses with those of its peers.

(1) In the numerator of Adjusted efficiency ratio, total noninterest expense is adjusted for Rep and warrant expense, Insurance segment expense, and repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods.

(2) In the denominator, total net revenue is adjusted for Core OID and Insurance segment revenue.

4) Adjusted noninterest expense is a non-GAAP financial measure that adjusts GAAP noninterest expense for repositioning items. Management believes adjusted noninterest expense is a helpful financial metric because it enables the reader better understand the business’ expenses excluding nonrecurring items.

5) Adjusted other revenue is a non-GAAP financial measure that adjusts GAAP other revenue for OID expenses, repositioning, and change in fair value of equity securities.

Management believes adjusted other revenue is a helpful financial metric because it enables the reader to better understand the business’ ability to generate other revenue.

6) Adjusted Provision for Credit Losses is a non-GAAP financial measure that adjusts GAAP provision for credit losses for repositioning items. Management believes adjusted provision for credit losses is a helpful financial metric because it enables the reader better understand the business’s expenses excluding nonrecurring items.

7) Adjusted tangible book value per share (Adjusted TBVPS) is a non-GAAP financial measure that reflects the book value of equity attributable to shareholders even if Core OID balance were accelerated immediately through the financial statements. As a result, management believes Adjusted TBVPS provides the reader with an assessment of value that is more conservative than GAAP common shareholder’s equity per share. Adjusted TBVPS generally adjusts common equity for: (1) goodwill and identifiable intangibles, net of DTLs, (2) tax-effected Core OID balance to reduce tangible common equity in the event the corresponding discounted bonds are redeemed/tendered, and (3) Series G discount which reduces tangible common equity as the company has normalized its capital structure, as applicable for respective periods. Note: In December 2017, tax-effected Core OID balance was adjusted from a statutory U.S. Federal tax rate of 35% to 21% (“rate”) as a result of changes to U.S. tax law. The adjustment conservatively increased the tax-effected Core OID balance and consequently reduced Adjusted TBVPS as any acceleration of the non-cash charge in future periods would flow through the financial statements at a 21% rate versus a previously modeled 35% rate.

8) Adjusted total net revenue is a non-GAAP financial measure that management believes is helpful for readers to understand the ongoing ability of the company to generate revenue. For purposes of this calculation, GAAP net financing revenue is adjusted by excluding Core OID to calculate net financing revenue ex. core OID. GAAP other revenue is adjusted for OID expenses, repositioning, and change in fair value of equity securities to calculate adjusted other revenue. Adjusted total net revenue is calculated by adding net financing revenue ex. core OID to adjusted other revenue.

9) Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business’ ongoing ability to generate revenue and income.


ALLY FINANCIAL INC.

10) Core net income attributable to common shareholders is a non-GAAP financial measure that serves as the numerator in the calculations of Adjusted EPS and Core ROTCE and that, like those measures, is believed by management to help the reader better understand the operating performance of the core businesses and their ability to generate earnings. Core net income attributable to common shareholders adjusts GAAP net income attributable to common shareholders for discontinued operations net of tax, tax-effected Core OID expense, tax-effected repositioning and other primarily related to the extinguishment of high-cost legacy debt and strategic activities and significant other, preferred stock capital actions, significant discrete tax items and tax-effected changes in equity investments measured at fair value, as applicable for respective periods.

11) Core original issue discount (Core OID) amortization expense is a non-GAAP financial measure for OID and is believed by management to help the reader better understand the activity removed from: Core pre-tax income (loss), Core net income (loss) attributable to common shareholders, Adjusted EPS, Core ROTCE, Adjusted efficiency ratio, Adjusted total net revenue, and Net financing revenue (excluding Core OID). Core OID is primarily related to bond exchange OID which excludes international operations and future issuances. Core OID for all periods shown is applied to the pre-tax income of the Corporate and Other segment.

12) Core outstanding original issue discount balance (Core OID balance) is a non-GAAP financial measure for outstanding OID and is believed by management to help the reader better understand the balance removed from Core ROTCE and Adjusted TBVPS. Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances.

13) Core pre-tax income is a non-GAAP financial measure that adjusts pre-tax income from continuing operations by excluding (1) Core OID, and (2) change in fair value of equity securities (change in fair value of equity securities impacts the Insurance and Corporate Finance segments), and (3) Repositioning and other which are primarily related to the extinguishment of high cost legacy debt, strategic activities and significant other one-time items, as applicable for respective periods or businesses. Management believes core pre- tax income can help the reader better understand the operating performance of the core businesses and their ability to generate earnings.

14) Core return on tangible common equity (Core ROTCE) is a non-GAAP financial measure that management believes is helpful for readers to better understand the ongoing ability of the company to generate returns on its equity base that supports core operations. For purposes of this calculation, tangible common equity is adjusted for Core OID balance and net DTA. Ally’s Core net income attributable to common shareholders for purposes of calculating Core ROTCE is based on the actual effective tax rate for the period adjusted for significant discrete tax items including tax reserve releases, which aligns with the methodology used in calculating adjusted earnings per share.

(1) In the numerator of Core ROTCE, GAAP net income attributable to common shareholders is adjusted for discontinued operations net of tax, tax-effected Core OID, tax-effected repositioning and other which are primarily related to the extinguishment of high-cost legacy debt, strategic activities and significant other one- time items, change in fair value of equity securities, significant discrete tax items, and preferred stock capital actions, as applicable for respective periods.

(2) In the denominator, GAAP shareholder’s equity is adjusted for goodwill and identifiable intangibles net of DTL, Core OID balance, and net DTA.

15) Estimated impact of CECL on regulatory capital per final rule issued by U.S. banking agencies - In December 2018, the FRB and other U.S. banking agencies approved a final rule to address the impact of CECL on regulatory capital by allowing BHCs and banks, including Ally, the option to phase in the day-one impact of CECL over a three-year period. In March 2020, the FRB and other U.S. banking agencies issued an interim final rule that became effective on March 31, 2020 and provided an alternative option for banks to temporarily delay the impacts of CECL, relative to the incurred loss methodology for estimating the allowance for loan losses, on regulatory capital. A final rule that was largely unchanged from the March 2020 interim final rule was issued by the FRB and other U.S. banking agencies in August 2020, and became effective in September 2020. For regulatory capital purposes, these rules permitted us to delay recognizing the estimated impact of CECL on regulatory capital until after a two-year deferral period, which for us extended through December 31, 2021. Beginning on January 1, 2022, we are required to phase in 25% of the previously deferred estimated capital impact of CECL, with an additional 25% to be phased in at the beginning of each subsequent year until fully phased in by the first quarter of 2025. Under these rules, firms that adopt CECL and elect the five-year transition will calculate the estimated impact of CECL on regulatory capital as the day-one impact of adoption plus 25% of the subsequent change in allowance during the two-year deferral period, which according to the final rule approximates the impact of CECL relative to an incurred loss model. We adopted this transition option during the first quarter of 2020, and beginning January 1, 2022, are phasing in the regulatory capital impacts of CECL based on this five-year transition period.

16) Investment income and other (adjusted) is a non-GAAP financial measure that adjusts GAAP investment income and other for repositioning, and the change in fair value of equity securities. Management believes investment income and other (adjusted) is a helpful financial metric because it enables the reader to better understand the business' ability to generate investment income.


ALLY FINANCIAL INC.

17) Net financing revenue excluding core OID is calculated using a non-GAAP measure that adjusts net financing revenue by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net financing revenue ex. Core OID is a helpful financial metric because it enables the reader to better understand the business' ability to generate revenue.

18) Net interest margin excluding core OID is calculated using a non-GAAP measure that adjusts net interest margin by excluding Core OID. The Core OID balance is primarily related to bond exchange OID which excludes international operations and future issuances. Management believes net interest margin ex. Core OID is a helpful financial metric because it enables the reader to better understand the business' profitability and margins.

19) Repositioning is primarily related to the extinguishment of high-cost legacy debt, strategic activities, restructuring, amounts related to nonrecurring business transactions or pending transactions, and significant other one-time items.

20) Tangible Common Equity is a non-GAAP financial measure that is defined as common stockholders’ equity less goodwill and identifiable intangible assets, net of deferred tax liabilities. Ally considers various measures when evaluating capital adequacy, including tangible common equity. Ally believes that tangible common equity is important because we believe readers may assess our capital adequacy using this measure. Additionally, presentation of this measure allows readers to compare certain aspects of our capital adequacy on the same basis to other companies in the industry. For purposes of calculating Core return on tangible common equity (Core ROTCE), tangible common equity is further adjusted for Core OID balance and net deferred tax asset.