Ally Financial (ALLY) 8-K Completion of Acquisition or Disposition of Assets

Exhibit 99.1

ALLY FINANCIAL INC.

The following Unaudited Pro Forma Condensed Consolidated Financial Statements of Ally Financial Inc. and its consolidated subsidiaries (collectively, “Ally”, “we” and “our”) are included herein:

• Unaudited Pro Forma Condensed Consolidated Balance Sheet as of March 31, 2012

• Unaudited Pro Forma Condensed Consolidated Statement of Income for the three months ended March 31, 2012

• Unaudited Pro Forma Condensed Consolidated Statement of Income for the year ended December 31, 2011

• Notes to the Unaudited Pro Forma Condensed Consolidated Financial Statements

The Unaudited Pro Forma Condensed Consolidated Financial Statements and the related Notes presented reflect the deconsolidation of Residential Capital, LLC (“ResCap”) and its consolidated subsidiaries (collectively, “ResCap”) as a result of the filing by ResCap and certain of its subsidiaries on May 14, 2012 (the “Petition Date”) for relief under Chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the Southern District of New York. Ally has determined that, as a result of the bankruptcy filing and beginning on the Petition Date, ResCap will be deconsolidated from Ally’s financial statements.

The Unaudited Pro Forma Condensed Consolidated Financial Statements have been prepared by applying pro forma adjustments to the Consolidated Financial Statements included in our Annual Report on Form 10-K for the year ended December 31, 2011 and our Unaudited Condensed Consolidated Financial Statements included in our Quarterly Report on Form 10-Q for the period ended March 31, 2012. The Unaudited Pro Forma Condensed Consolidated Statements of Income for the three months ended March 31, 2012 and the year ended December 31, 2011 reflect the deconsolidation of ResCap, assuming the bankruptcy filing had occurred as of the beginning of the year ended December 31, 2011. The Unaudited Pro Forma Condensed Consolidated Balance Sheet reflects the deconsolidation of ResCap, assuming the bankruptcy filing had occurred on March 31, 2012. The pro forma adjustments, as described in the Notes to the Unaudited Pro Forma Condensed Consolidated Financial Statements, are based on currently available information. While such adjustments are subject to change, management believes such adjustments are reasonable and directly attributable to the deconsolidation of ResCap.

The Unaudited Pro Forma Condensed Consolidated Financial Statements are presented for informational purposes only and are not necessarily indicative of the operating results or financial position that would have occurred had the bankruptcy filing occurred on, or as of, the dates indicated, nor are they necessarily indicative of future operating results or financial position.

ALLY FINANCIAL INC.

CONDENSED CONSOLIDATED BALANCE SHEET (unaudited)

($ in millions)	March 31, 2012 As  Reported (a)			Less: Deconsolidation of ResCap (b)			Pro Forma Adjustments (c)			Pro Forma
Assets
Cash and cash equivalents
Noninterest-bearing	$	2,279		$	(500	)	$	1		$	1,780
Interest-bearing		10,800			(153	)		—			10,647
Total cash and cash equivalents		13,079			(653	)		1			12,427
Trading assets		895			(32	)		—			863
Investment securities		14,942			—			—			14,942
Loans held-for-sale, net		6,670			(4,271	)		—			2,399
Finance receivables and loans, net
Finance receivables and loans, net		119,818			(1,038	)		1,410	(d)		120,190
Allowance for loan losses		(1,546	)		29			—			(1,517	)
Total finance receivables and loans, net		118,272			(1,009	)		1,410	(d)		118,673
Investment in operating leases, net		10,048			—			—			10,048
Mortgage servicing rights		2,595			(1,254	)		—			1,341
Premiums receivable and other insurance assets		1,876			(3	)		—			1,873
Other assets		16,965			(8,454	)		6,975	(e)(f)		15,486
Assets of operations held-for-sale		1,008			—			—			1,008
Total assets	$	186,350		$	(15,676	)	$	8,386		$	179,060
Liabilities
Deposit liabilities
Noninterest-bearing	$	2,314		$	—		$	1		$	2,315
Interest-bearing		44,892			—			81			44,973
Total deposit liabilities		47,206			—			82			47,288
Short-term borrowings		7,203			(818	)		660	(d)		7,045
Long-term debt		93,990			(5,889	)		750	(d)		88,851
Interest payable		1,675			(124	)		—			1,551
Unearned insurance premiums and service revenue		2,632			—			—			2,632
Reserves for insurance losses and loss adjustment expenses		565			(87	)		—			478
Accrued expenses and other liabilities		13,089			(8,359	)		6,495	(e)		11,225
Liabilities of operations held-for-sale		323			—			—			323
Total liabilities		166,683			(15,277	)		7,987			159,393
Equity
Common stock and paid-in capital		19,668			—			—			19,668
Mandatorily convertible preferred stock held by U.S. Department of Treasury		5,685			—			—			5,685
Preferred stock		1,255			—			—			1,255
Accumulated deficit		(7,215	)		—			—			(7,215	)
Accumulated other comprehensive income		274			—			—			274
Total equity		19,667			(399	)		399	(f)		19,667
Total liabilities and equity	$	186,350		$	(15,676	)	$	8,386		$	179,060

See the notes to the Unaudited Pro Forma Condensed Consolidated Financial Statements.

ALLY FINANCIAL INC.

CONDENSED CONSOLIDATED STATEMENT OF INCOME (unaudited)

($ in millions)	Three months ended March 31, 2012 As Reported (a)		Less: Deconsolidation of ResCap (g)			Pro Forma Adjustments (h)			Pro Forma
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$	1,678	$	(49	)	$	12		$	1,641
Interest on loans held-for-sale		73		(42	)		—			31
Interest on trading assets		11		(2	)		—			9
Interest and dividends on available-for-sale investment securities		84		—			—			84
Interest-bearing cash		14		(2	)		—			12
Operating leases		540		—			—			540
Total financing revenue and other interest income		2,400		(95	)		12			2,317
Interest expense
Interest on deposits		186		—			—			186
Interest on short-term borrowings		75		(13	)		—			62
Interest on long-term debt		1,177		(91	)		12			1,098
Total interest expense		1,438		(104	)		12			1,346
Depreciation expense on operating lease assets		293		—			—			293
Net financing revenue		669		9			—			678
Other revenue
Servicing fees		310		(189	)		1			122
Servicing asset valuation and hedge activities, net		9		(115	)		—			(106	)
Total servicing income, net		319		(304	)		—			16
Insurance premiums and service revenue earned		375		(4	)		—			371
Gain on mortgage and automotive loans, net		126		(107	)		1			20
Other gain on investments, net		90		—			—			90
Other income, net of losses		277		(21	)		27			283
Total other revenue		1,187		(436	)		29			780
Total net revenue		1,856		(427	)		29			1,458
Provision for loan losses		140		1			(1	)		140
Noninterest expense
Compensation and benefits expense		475		(103	)		—			372
Insurance losses and loss adjustment expenses		159		(4	)		—			155
Other operating expenses		716		(202	)		26			540
Total noninterest expense		1,350		(309	)		26			1,067
Income from continuing operations before income tax expense	$	366	$	(119	)	$	4		$	251

See the notes to the Unaudited Pro Forma Condensed Consolidated Financial Statements.

ALLY FINANCIAL INC.

CONSOLIDATED STATEMENT OF INCOME (unaudited)

($ in millions)	Year ended December 31, 2011 As Reported (i)			Less: Deconsolidation of ResCap (g)			Pro Forma Adjustments (h)			Pro Forma
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$	6,635		$	(221	)	$	46		$	6,460
Interest on loans held-for-sale		332			(152	)		—			180
Interest on trading assets		19			(11	)		—			8
Interest and dividends on available-for-sale investment securities		398			(1	)		—			397
Interest-bearing cash		54			(6	)		—			48
Operating leases		2,298			—			—			2,298
Total financing revenue and other interest income		9,736			(391	)		46			9,391
Interest expense
Interest on deposits		700			—			1			701
Interest on short-term borrowings		314			(55	)		—			259
Interest on long-term debt		5,209			(379	)		45			4,875
Total interest expense		6,223			(434	)		46			5,835
Depreciation expense on operating lease assets		1,038			—			—			1,038
Net financing revenue		2,475			43			—			2,518
Other revenue
Servicing fees		1,358			(840	)		6			524
Servicing asset valuation and hedge activities, net		(789	)		356			—			(433	)
Total servicing income, net		569			(484	)		6			91
Insurance premiums and service revenue earned		1,573			(17	)		—			1,556
Gain on mortgage and automotive loans, net		470			(222	)		(19	)		229
Loss on extinguishment of debt		(64	)		—			—			(64	)
Other gain on investments, net		294			—			—			294
Other income, net of losses		754			48			79			881
Total other revenue		3,596			(675	)		66			2,987
Total net revenue		6,071			(632	)		66			5,505
Provision for loan losses		219			(24	)		(3	)		192
Noninterest expense
Compensation and benefits expense		1,574			(320	)		—			1,254
Insurance losses and loss adjustment expenses		713			(31	)		—			682
Other operating expenses		3,498			(1,087	)		72			2,483
Total noninterest expense		5,785			(1,438	)		72			4,419
Income from continuing operations before income tax expense	$	67		$	830		$	(3	)	$	894

See the notes to the Unaudited Pro Forma Condensed Consolidated Financial Statements.

ALLY FINANCIAL INC.

Notes to the Unaudited Pro Forma Condensed Consolidated Financial Statements

(a) Amounts represent historical financial information from our Quarterly Report on Form 10-Q for the period ended March 31, 2012.

(b) Reflects the reclassification of the previously consolidated assets and liabilities of ResCap to unconsolidated investments.

(c) We have made no adjustments to the Unaudited Pro Forma Condensed Balance Sheet as of March 31, 2012 for intercompany transactions that occurred subsequent to March 31, 2012.

(d) Amount was reclassified as finance receivables and loans, net for financial statement presentation. Prior to the deconsolidation, these amounts were considered intercompany short-term borrowings and intercompany long-term debt and eliminated in the consolidation process. Subsequent to the deconsolidation, these amounts are shown as transactions with affiliates.

(e) Amount, which includes derivatives, was reclassified as other assets for financial statement presentation. Prior to the deconsolidation, these amounts were considered intercompany accrued expenses and other liabilities and eliminated in the consolidation process. Subsequent to the deconsolidation, these amounts are shown as transactions with affiliates.

(f) Subsequent to the deconsolidation, we will account for our investment in ResCap using the cost method of accounting. For purposes of the Unaudited Pro Forma Condensed Consolidated Balance Sheet as of March 31, 2012 we have valued our investment in ResCap at an amount equal to the carrying value at that time.

(g) Represents the Condensed Consolidated Statement of Income of ResCap for the three months ended March 31, 2012 and for the year ended December 31, 2011.

(h) Adjustments relate to normal recurring intercompany transactions between Ally and ResCap, which as a result of the deconsolidation would no longer be eliminated.

(i) Amounts represent historical financial information from our Annual Report on Form 10-K for the year ended December 31, 2011.