Attached files
| file | filename |
|---|---|
| 8-K - FORM 8-K - Ally Financial Inc. | d8k.htm |
| EX-99.1 - SELECTED FINANCIAL DATA - Ally Financial Inc. | dex991.htm |
| EX-23.1 - CONSENT OF DELOITTE & TOUCHE LLP. - Ally Financial Inc. | dex231.htm |
Exhibit 99.2
Ratio of Earnings to Fixed Charges
| Year ended December 31, ($ in millions) | 2008(a) | 2007(a) | 2006(a) | 2005(a) | 2004(a) | |||||||||||||||
| Earnings |
||||||||||||||||||||
| Consolidated net income (loss) |
$ | 1,846 | $ | (2,418 | ) | $ | 2,007 | $ | 2,185 | $ | 2,793 | |||||||||
| Income tax (benefit) expense |
(18 | ) | 345 | 74 | 1,149 | 1,311 | ||||||||||||||
| Equity-method investee distribution |
111 | 65 | 651 | 283 | 259 | |||||||||||||||
| Equity-method investee earnings (losses) |
533 | 5 | (512 | ) | (142 | ) | (169 | ) | ||||||||||||
| Minority interest expense |
1 | 2 | (9 | ) | (57 | ) | 2 | |||||||||||||
| Consolidated income (loss) before income taxes, minority interest, and income or loss from equity investees |
2,473 | (2,001 | ) | 2,211 | 3,418 | 4,196 | ||||||||||||||
| Fixed charges |
11,834 | 14,772 | 15,571 | 12,662 | 9,602 | |||||||||||||||
| Earnings available for fixed charges |
14,307 | 12,771 | 17,782 | 16,080 | 13,798 | |||||||||||||||
| Fixed charges |
||||||||||||||||||||
| Interest, discount, and issuance expense on debt |
11,772 | 14,701 | 15,499 | 12,596 | 9,539 | |||||||||||||||
| Portion of rentals representative of the interest factor |
62 | 71 | 72 | 66 | 63 | |||||||||||||||
| Total fixed charges |
$ | 11,834 | $ | 14,772 | $ | 15,571 | $ | 12,662 | $ | 9,602 | ||||||||||
| Preferred dividend requirements |
— | 192 | 22 | — | — | |||||||||||||||
| Total fixed charges and preferred dividend requirements |
11,834 | 14,964 | 15,593 | 12,662 | 9,602 | |||||||||||||||
| Ratio of earnings to fixed charges (b) |
1.21 | 0.86 | 1.14 | 1.27 | 1.44 | |||||||||||||||
| Ratio of earnings to fixed charges and preferred dividend requirements (c) |
1.21 | 0.85 | 1.14 | 1.27 | 1.44 | |||||||||||||||
| (a) | During the three months ended September 30, 2009, we committed to sell the U.S. consumer property and casualty insurance businesses of our Insurance operations and certain operations of our International Automotive Finance operations. We report these businesses separately as discontinued operations in the Consolidated Financial Statements. See Note 28 to the Consolidated Financial Statements for further discussion of our discontinued operations. All reported periods of the calculation of the ratio of earnings to fixed charges exclude discontinued operations. |
| (b) | The ratio calculation indicates a less than one-to-one coverage for the year ended December 31, 2007. Earnings available for fixed charges for the year ended December 31, 2007, was inadequate to cover total fixed charges. The deficient amount for the ratio was $2,001 million. |
| (c) | The ratio calculation indicates a less than one-to-one coverage for the year ended December 31, 2007. Earnings available for fixed charges and preferred dividend requirements for the year ended December 31, 2007, was inadequate to cover total fixed charges. The deficient amount for the ratio was $2,193 million. |