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Q4 2024 Ally Financial Inc. Earnings Financial Supplement

FOURTH QUARTER 2024

FINANCIAL SUPPLEMENT

ALLY FINANCIAL INC.

TABLE OF CONTENTS

Consolidated Results

Page(s)

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

3

ALLY FINANCIAL INC.

CONSOLIDATED FINANCIAL HIGHLIGHTS

($ in millions, shares in thousands)

QUARTERLY TRENDS

CHANGE VS.

FULL YEAR

Selected Income Statement Data

4Q 24

3Q 24

2Q 24

1Q 24

4Q 23

3Q 24

4Q 23

FY 2024

FY 2023

CHANGE

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%

Retuon average assets

0.2%

0.4%

0.4%

0.2%

0.1%

0.3%

0.4%

Retuon average total equity

2.3%

4.9%

5.6%

3.4%

1.1%

4.0%

6.4%

Retuon 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

4

ALLY FINANCIAL INC.

CONSOLIDATED INCOME STATEMENT

($ 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

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

$

1,509

$

1,520

$

1,517

$

1,468

$

1,502

$

(11)

$

7

$

6,014

$

6,221

$

(207)

Net financing revenue

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: 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.

Note: Numbers may not foot due to rounding

5

ALLY FINANCIAL INC.

CONSOLIDATED PERIOD-END BALANCE SHEET

($ in millions)

QUARTERLY TRENDS

CHANGE VS.

Assets

4Q 24

3Q 24

2Q 24

1Q 24

4Q 23

3Q 24

4Q 23

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: 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.

Note: Numbers may not foot due to rounding

6

ALLY FINANCIAL INC.

CONSOLIDATED AVERAGE BALANCE SHEET (1)

($ in millions)

QUARTERLY TRENDS

CHANGE VS.

FULL YEAR

Assets

4Q 24

3Q 24

2Q 24

1Q 24

4Q 23

3Q 24

4Q 23

FY 2024

FY 2023

CHANGE

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: 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.

Note: Numbers may not foot due to rounding

7

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: 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. Note: Numbers may not foot due to rounding

8

ALLY FINANCIAL INC.

AUTOMOTIVE FINANCE - CONDENSED FINANCIAL STATEMENTS

($ in millions)

QUARTERLY TRENDS

CHANGE VS.

FULL YEAR

Income Statement

4Q 24

3Q 24

2Q 24

1Q 24

4Q 23

3Q 24

4Q 23

FY 2024

FY 2023

CHANGE

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: 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.
    Note: Numbers may not foot due to rounding

9

ALLY FINANCIAL INC.

AUTOMOTIVE FINANCE - KEY STATISTICS

QUARTERLY TRENDS

CHANGE VS.

FULL YEAR

U.S. Consumer Originations(1)($ in billions)

4Q 24

3Q 24

2Q 24

1Q 24

4Q 23

3Q 24

4Q 23

FY 2024

FY 2023

CHANGE

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

10

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Disclaimer

Ally Financial Inc. published this content on January 22, 2025, and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on January 22, 2025 at 12:25:34.440.

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