Ally Financial (ALLY) 8-K Ally Financial Reports Second Quarter 2024 Financial Results

Exhibit 99.2

SECOND 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.

2

ALLY FINANCIAL INC. TABLE OF CONTENTS

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

3

ALLY FINANCIAL INC. CONSOLIDATED INCOME STATEMENT

($ in millions)	QUARTERLY TRENDS													CHANGE VS.
	2Q 24			1Q 24		4Q 23			3Q 23			2Q 23		1Q 24			2Q 23
Financing revenue and other interest income
Interest and fees on finance receivables and loans	$	2,845		$	2,827	$	2,887		$	2,837		$	2,721	$	18		$	124
Interest on loans held-for-sale		7			36		5			7			7		(29	)		-
Total interest and dividends on investment securities		255			255		260			256			238		-			17
Interest-bearing cash		88			97		90			99			87		(9	)		1
Other earning assets		10			11		10			11			9		(1	)		1
Operating leases		333			356		371			385			392		(23	)		(59	)
Total financing revenue and other interest income		3,538			3,582		3,623			3,595			3,454		(44	)		84
Interest expense
Interest on deposits		1,594			1,651		1,621			1,563			1,418		(57	)		176
Interest on short-term borrowings		27			23		37			13			11		4			16
Interest on long-term debt		244			248		248			274			252		(4	)		(8	)
Interest on other		1			-		2			-			-		1			1
Total interest expense		1,866			1,922		1,908			1,850			1,681		(56	)		185
Depreciation expense on operating lease assets		177			204		222			212			200		(27	)		(23	)
Net financing revenue	$	1,495		$	1,456	$	1,493		$	1,533		$	1,573	$	39		$	(78	)
Other revenue
Insurance premiums and service revenue earned		341			345		335			320			310		(4	)		31
Gain on mortgage and automotive loans, net		6			6		3			4			5		-			1
Other gain / (loss) on investments, net		(7	)		29		85			(41	)		26		(36	)		(33	)
Other income, net of losses		165			150		151			152			165		15			-
Total other revenue		505			530		574			435			506		(25	)		(1	)
Total net revenue		2,000			1,986		2,067			1,968			2,079		14			(79	)
Provision for loan losses		457			507		587			508			427		(50	)		30
Noninterest expense
Compensation and benefits expense		442			519		453			463			448		(77	)		(6	)
Insurance losses and loss adjustment expenses		181			112		93			107			134		69			47
Goodwill impairment		-			-		149			-			-		-			-
Other operating expenses		663			677		721			662			667		(14	)		(4	)
Total noninterest expense		1,286			1,308		1,416			1,232			1,249		(22	)		37
Pre-tax income from continuing operations	$	257		$	171	$	64		$	228		$	403	$	86		$	(146	)
Income tax (benefit) / expense from continuing operations		(37	)		14		(13	)		(68	)		74		(51	)		(111	)
Net income from continuing operations		294			157		77			296			329		137			(35	)
Loss from discontinued operations, net of tax		-			-		(1	)		-			-		-			-
Net income	$	294		$	157	$	76		$	296		$	329	$	137		$	(35	)
Preferred Dividends		28			28		27			27			28		-			-
Net income available to common shareholders	$	266		$	129	$	49		$	269		$	301	$	137		$	(35	)

Note: Numbers may not foot due to rounding

4

ALLY FINANCIAL INC. CONSOLIDATED PERIOD-END BALANCE SHEET

($ in millions)	QUARTERLY TRENDS															CHANGE VS.
	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Assets
Cash and cash equivalents
Noninterest-bearing	$	536		$	589		$	638		$	603		$	536		$	(53	)	$	-
Interest-bearing		6,833			7,564			6,307			7,912			9,436			(731	)		(2,603	)
Total cash and cash equivalents		7,369			8,153			6,945			8,515			9,972			(784	)		(2,603	)
Investment securities (1)		28,602			29,127			29,905			28,532			30,453			(525	)		(1,851	)
Loans held-for-sale, net		316			358			400			289			297			(42	)		19
Finance receivables and loans, net		138,783			137,960			139,439			140,260			138,449			823			334
Allowance for loan losses		(3,572	)		(3,550	)		(3,587	)		(3,837	)		(3,781	)		(22	)		209
Total finance receivables and loans, net		135,211			134,410			135,852			136,423			134,668			801			543
Investment in operating leases, net		8,374			8,731			9,171			9,569			9,930			(357	)		(1,556	)
Premiums receivables and other insurance assets		2,806			2,750			2,749			2,775			2,768			56			38
Other assets		9,853			9,348			9,395			9,601			9,153			505			700
Assets of operations held-for-sale (2)		-			-			1,975			-			-			-			-
Total assets	$	192,531		$	192,877		$	196,392		$	195,704		$	197,241		$	(346	)	$	(4,710	)
Liabilities
Deposit liabilities
Noninterest-bearing	$	156		$	137		$	139		$	188		$	160		$	19		$	(4	)
Interest-bearing		151,998			154,947			154,527			152,647			154,150			(2,949	)		(2,152	)
Total deposit liabilities		152,154			155,084			154,666			152,835			154,310			(2,930	)		(2,156	)
Short-term borrowings		3,122			-			3,297			2,410			2,194			3,122			928
Long-term debt		15,979			17,011			17,570			20,096			20,141			(1,032	)		(4,162	)
Interest payable		1,148			1,118			858			1,437			955			30			193
Unearned insurance premiums and service revenue		3,496			3,480			3,492			3,494			3,478			16			18
Accrued expense and other liabilities		2,781			2,527			2,726			2,607			2,631			254			150
Liabilities of operations held-for-sale		-			-			17			-			-			-			-
Total liabilities	$	178,680		$	179,220		$	182,626		$	182,879		$	183,709		$	(540	)	$	(5,029	)
Equity
Common stock and paid-in capital (3)	$	15,176		$	15,134		$	15,104		$	15,069		$	15,048		$	42		$	128
Preferred stock		2,324			2,324			2,324			2,324			2,324			-			-
Retained earnings		360			188			154			197			23			172			337
Accumulated other comprehensive loss		(4,009	)		(3,989	)		(3,816	)		(4,765	)		(3,863	)		(20	)		(146	)
Total equity		13,851			13,657			13,766			12,825			13,532			194			319
Total liabilities and equity	$	192,531		$	192,877		$	196,392		$	195,704		$	197,241		$	(346	)	$	(4,710	)

(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

5

ALLY FINANCIAL INC. CONSOLIDATED AVERAGE BALANCE SHEET ⁽¹⁾

($ in millions)	QUARTERLY TRENDS															CHANGE VS.
	2Q 24			1Q 24			4Q 23			3Q 23			2Q 23			1Q 24			2Q 23
Assets
Interest-bearing cash and cash equivalents	$	7,311		$	7,709		$	7,571		$	8,308		$	7,401		$	(398)		$	(90	)
Investment securities and other earning assets		29,233			29,939			29,407			30,364			31,537			(706	)		(2,304	)
Loans held-for-sale, net		220			382			237			278			422			(162	)		(202	)
Total finance receivables and loans, net (2) (5)		138,322			139,945			140,326			139,153			137,185			(1,623	)		1,137
Investment in operating leases, net		8,619			8,955			9,415			9,817			10,110			(336	)		(1,491	)
Total interest earning assets		183,705			186,930			186,956			187,920			186,655			(3,225	)		(2,950	)
Noninterest-bearing cash and cash equivalents		360			309			257			335			362			51			(2	)
Other assets		11,587			11,443			11,644			10,925			10,781			144			806
Allowance for loan losses		(3,557	)		(3,589	)		(3,801	)		(3,820	)		(3,777	)		32			220
Total assets	$	192,095		$	195,093		$	195,056		$	195,360		$	194,021		$	(2,998)		$	(1,926	)
Liabilities
Interest-bearing deposit liabilities
Retail deposit liabilities	$	142,949		$	143,491		$	140,117		$	139,372		$	138,285		$	(542	)	$	4,664
Other interest-bearing deposit liabilities (3)		9,316			11,712			13,391			13,973			13,935			(2,396	)		(4,619	)
Total Interest-bearing deposit liabilities		152,265			155,203			153,508			153,345			152,220			(2,938	)		45
Short-term borrowings		2,254			1,726			2,714			948			833			528			1,421
Long-term debt (4)		16,367			17,309			17,933			20,315			20,256			(942	)		(3,889	)
Total interest-bearing liabilities (4)		170,886			174,238			174,155			174,608			173,309			(3,352	)		(2,423	)
Noninterest-bearing deposit liabilities		147			149			164			181			162			(2	)		(15	)
Other liabilities		7,231			7,021			7,826			6,503			6,760			210			471
Total liabilities	$	178,264		$	181,408		$	182,145		$	181,292		$	180,231		$	(3,144)		$	(1,967	)
Equity
Total equity	$	13,831		$	13,685		$	12,911		$	14,068		$	13,790		$	146		$	41
Total liabilities and equity	$	192,095		$	195,093		$	195,056		$	195,360		$	194,021		$	(2,998)		$	(1,926	)

(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 $773 million in 2Q24, $786 million in 1Q24, $799 million in 4Q23, $812 million in 3Q23, and $824 million in 2Q23.

(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

6